Document:

EX-10.24

 Exhibit 10.24 

SILVERBACK TWO CANADA MERGER CORPORATION 

LOAN AND SECURITY AGREEMENT 

 This LOAN AND SECURITY AGREEMENT (this “Agreement”) is entered into as of February 10, 2012, by
and between Comerica Bank (“Bank”) and Silverback Two Canada Merger Corporation (“Borrower”). 
 RECITALS

 Borrower wishes to obtain credit from time to time from Bank, and Bank desires to extend credit to Borrower. This Agreement sets forth the terms
on which Bank will advance credit to Borrower, and Borrower will repay the amounts owing to Bank. 
 AGREEMENT 

The parties agree as follows: 
 1. DEFINITIONS AND
CONSTRUCTION. 
 1.1 Definitions. As used in this Agreement, all capitalized terms shall have the definitions set forth on
Exhibit A. Any term used in the Code and not defined herein shall have the meaning given to the term in the Code. 
 1.2 Accounting
Terms. Any accounting term not specifically defined on Exhibit A shall be construed in accordance with GAAP and all calculations shall be made in accordance with GAAP. The term “financial statements” shall include the accompanying
notes and schedules. 
 1.3 References. For purposes of any Collateral located in the Province of Quebec or charged by any deed of
hypothec (or any other Loan Document) and for all other purposes pursuant to which the interpretation or construction of a Loan Document may be subject to the laws of the Province of Quebec or a court or tribunal exercising jurisdiction in the
Province of Quebec, any reference in this Agreement to: (i) “personal property” shall be deemed to include “movable property”, (ii) “real property” shall be deemed to include “immovable property”,
(iii) “tangible property” shall be deemed to include “corporeal property”, (iv) “intangible property” shall be deemed to include “incorporeal property”, (v) “security interest” and
“mortgage” shall be deemed to include a “hypothec”, (vi) all references to filing, registering or recording under the Code or the Personal Property Security Act of PPSA (of any Canadian province or territory) or otherwise
shall be deemed to include publication under the Civil Code of Québec, (vii) all references to “perfection of’ or “perfected” Liens shall be deemed to include a reference to the “opposability” of such Liens
to third parties, (viii) any “right of offset”, “right of setoff” or similar expression shall be deemed to include a “right of compensation”, (ix) “goods” shall be deemed to include “corporeal
movable property” other than chattel paper, documents of title, instruments, money and securities, and (x) an “agent” shall be deemed to include a “mandatary”, and (xi) “chief executive office” shall be
deemed to include “domicile”. 
 2. LOAN AND TERMS OF PAYMENT. 

2.1 Credit Extensions. 

(a) Promise to Pay. Borrower promises to pay to Bank, in lawful money of the United States of America, the aggregate unpaid principal
amount of all Credit Extensions made by Bank to Borrower, together with interest on the unpaid principal amount of such Credit Extensions at rates in accordance with the terms hereof. 

(b) Term Loan Advances. 

(i) Subject to and upon the terms and conditions of this Agreement, Bank agrees to make Term Loan Advances to Borrower. Borrower may request
Term Loan Advances from the date hereof through August     , 2012. The aggregate outstanding amount of Term Loan Advances shall not exceed the Term Loan. The proceeds of the Term Loan shall be used to finance the Acquisition.

 (ii) Interest shall accrue from the date of each Term Loan Advance at the rate specified in
Section 2.3(a), and shall be payable in accordance with Section 2.3(c). Any Term Loan Advances that are outstanding on August     , 2012 shall be payable in forty two (42) equal monthly installments of principal,
plus all accrued interest, beginning on September 1, 2012, and continuing on the same day of each month thereafter until paid in full. Term Loan Advances, once repaid, may not be reborrowed. Borrower may prepay any Term Loan Advances without
penalty or premium. 
 (iii) When Borrower desires to obtain a Term Loan Advance, Borrower shall notify Bank (which notice shall be
irrevocable) by facsimile transmission to be received no later than 3:00 p.m. Central (1:30 p.m. Central time for wire transfers), on the Business Day the Term Loan Advance is to be made. Such notice shall be substantially in the form of Exhibit
C. The notice shall be signed by a Responsible Officer or its designee and include a copy of the invoice for any Equipment to be financed. Bank shall be entitled to rely on any facsimile or telephonic notice given by a person who Bank reasonably
believes to be a Responsible Officer or a designee thereof, and Borrower shall indemnify and hold Bank harmless for any damages or loss suffered by Bank as a result of such reliance. 

2.2 [Reserved.] 
 2.3
Interest Rates, Payments, and Calculations. 
 (a) Interest Rate. Except as set forth in Section 2.3(b), Term Loan
Advances shall bear interest, on the outstanding daily balance thereof, as set forth in the Prime Referenced Rate Addendum to Loan Security Agreement attached hereto as Exhibit E (“Interest Rate Addendum”). 

(b) Late Fee; Default Rate. If any payment is not made within 10 days after the date such payment is due, Borrower shall pay Bank a late
fee equal to the lesser of (i) five percent (5%) of the amount of such unpaid amount or (ii) the maximum amount permitted to be charged under applicable law. All Obligations shall bear interest, from and after the occurrence and
during the continuance of an Event of Default, at a rate equal to five (5) percentage points above the interest rate applicable immediately prior to the occurrence of the Event of Default. 

(c) Payments. Except as set forth in the Interest Rate Addendum, interest hereunder shall be due and payable on the first (1st) Business Day of each month during the term hereof. Bank shall, at its option, charge such interest, all Bank Expenses, and all Periodic Payments against any of Borrower’s deposit accounts
or against the Term Loan, in which case those amounts shall thereafter accrue interest at the rate then applicable hereunder. Any interest not paid when due shall be compounded by becoming a part of the Obligations, and such interest shall
thereafter accrue interest at the rate then applicable hereunder. All payments shall be free and clear of any taxes, withholdings, duties, impositions or other charges, to the end that Bank will receive the entire amount of any Obligations payable
hereunder, regardless of source of payment. 
 (d) Computation. With respect to Obligations bearing interest at the Prime Rate, in the
event the Prime Rate is changed from time to time hereafter, the applicable rate of interest hereunder shall be increased or decreased, effective as of the day the Prime Rate is changed, by an amount equal to such change in the Prime Rate. All
interest chargeable under the Loan Documents shall be computed on the basis of a three hundred sixty (360) day year for the actual number of days elapsed. 

(e) Interest Act (Canada). For the purposes of this Agreement, whenever interest or a fee to be paid hereunder is to be
calculated on the basis of a year of three hundred and sixty (360) days or any other period of time that is less than a calendar year, the yearly rate of interest or the yearly fee to which the rate determined pursuant to such calculation is
equivalent is the rate so determined multiplied by the actual number of days in the calendar year in which the same is to be ascertained and divided by either three hundred and sixty (360) or such other period of time, as the case may be. 

  
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 2.4 Crediting Payments. Prior to the occurrence of an Event of Default, Bank shall credit
a wire transfer of funds, check or other item of payment to such deposit account or Obligation as Borrower specifies. After the occurrence and during the continuance of an Event of Default, Bank shall have the right, in its sole discretion, to
immediately apply any wire transfer of funds, check, or other item of payment Bank may receive to conditionally reduce Obligations, but such applications of funds shall not be considered a payment on account unless such payment is of immediately
available federal funds or unless and until such check or other item of payment is honored when presented for payment. Notwithstanding anything to the contrary contained herein, any wire transfer or payment received by Bank after 12:00 noon Central
time shall be deemed to have been received by Bank as of the opening of business on the immediately following Business Day. Whenever any payment to Bank under the Loan Documents would otherwise be due (except by reason of acceleration) on a date
that is not a Business Day, such payment shall instead be due on the next Business Day, and additional fees or interest, as the case may be, shall accrue and be payable for the period of such extension. 

2.5 Fees. Borrower shall pay to Bank the following: 

(a) Facility Fee. On the Closing Date, a fee equal to $30,000, which shall be nonrefundable; and 

(b) Bank Expenses. On the Closing Date, all Bank Expenses incurred through the Closing Date, and, after the Closing Date, all Bank
Expenses, as and when they become due. 
 2.6 Term. This Agreement shall become effective on the Closing Date and, subject to
Section 13.8, shall continue in full force and effect for so long as any Obligations (other than inchoate indemnity obligations) remain outstanding or Bank has any obligation to make Credit Extensions under this Agreement. Notwithstanding the
foregoing, Bank shall have the right to terminate its obligation to make Credit Extensions under this Agreement immediately and without notice upon the occurrence and during the continuance of an Event of Default. 

3. CONDITIONS OF LOANS. 
 3.1
Conditions Precedent to Initial Credit Extension. The obligation of Bank to make the initial Credit Extension is subject to the condition precedent that Bank shall have received, in form and substance satisfactory to Bank, the following: 

(a) this Agreement; 
 (b) an
officer’s certificate of Borrower with respect to incumbency and resolutions authorizing the execution and delivery of this Agreement; 

(c) such UCC, PPSA and other filings as Bank determines are necessary to perfect all security interests granted to Bank by Borrower and
Guarantors; 
 (d) the Canadian Security Agreement; 

(e) intellectual property security agreements, duly executed by Borrower and each Guarantor; 

(f) agreements to furnish insurance, duly executed by Borrower and each Guarantor; 

(g) the Interest Rate Addendum; 

(h) the Itemization of Amount Financed Disbursement Instructions; 

(i) a pledge and security agreement, duly executed by Silverback Enterprise Group, Inc.; 

(j) a security agreement from each Guarantor; 

(k) a guaranty from each Guarantor; 

  
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 (l) an officer’s certificate of Guarantor with respect to, among other things, incumbency
and resolutions authorizing the execution and delivery of a guaranty, intellectual property agreement, security agreement and related documents; 

(m) executed copies of the Acquisition Documents, certified by a Responsible Officer as being true, correct and complete; 

(n) a closing certificate from the Sellers, Borrower, TENROX Canada and Silverback Enterprise that all conditions to closing under the
Acquisition Documents (other than payment of the purchase price) have been satisfied, and such other evidence reasonably requested by Bank that each of the Persons party to such documents are in material compliance therewith, to the extent
applicable, and that no condition to consummation of the Acquisition under the Acquisition Documents shall have been waived in a manner detrimental in any material respect to Bank or Borrower, or either one of them, by any of the parties thereto;

 (o) for (i) the location with the address 600 Armand Frappier Blvd., Laral, Quebec H7V 4B4, Canada and (ii) each other
collateral location or warehouse location of Borrower and each Guarantor or any Collateral location not owned by Borrower or the applicable Guarantor where the aggregate value of Collateral at such locations is in excess of $250,000, a landlord
subordination agreement, collateral access agreement or bailment waiver, executed by the landlord, warehouseman or bailee of such location, as applicable, together with a copy of the lease, warehouse or bailment agreement for each such location, as
applicable; 
 (p) payment of the fees and Bank Expenses then due specified in Section 2.5; 

(q) current lien searches indicating that except for Permitted Liens, there are no other security interests or Liens of record in the
Collateral; 
 (r) current financial statements and other updated financial information as Bank may reasonably request; 

(s) current Compliance Certificate in accordance with Section 6.2; 

(t) a Warrant in form and substance satisfactory to Bank, together with a copy of (i) Silverback Enterprise’s capitalization table and
(ii) Silverback Enterprise’s investors rights agreement; 
 (u) information certificates for Borrower and each Guarantor; 

(v) an Automatic Debit Authorization; 

(w) a payoff letter from HSBC; 

(x) evidence satisfactory to Bank of Borrower’s receipt of cash proceeds in a minimum amount of Six Million Dollars ($6,000,000) from the
sale of its equity securities; and 
 (y) such other documents or certificates, and completion of such other matters, as Bank may reasonably
deem necessary or appropriate. 
 3.2 Conditions Precedent to all Credit Extensions. The obligation of Bank to make each Credit
Extension, including the initial Credit Extension, is further subject to the following conditions: 
 (a) timely receipt by Bank of the
Payment/Advance Form as provided in Section 2.1; and 

  
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 (b) the representations and warranties contained in Article 5 shall be true and correct in all
material respects on and as of the date of such Payment/Advance Form and on the effective date of each Credit Extension as though made at and as of each such date, and no Event of Default shall have occurred and be continuing, or would exist after
giving effect to such Credit Extension (provided, however, that those representations and warranties expressly referring to another date shall be true, correct and complete in all material respects as of such date). The making of each Credit
Extension shall be deemed to be a representation and warranty by Borrower on the date of such Credit Extension as to the accuracy of the facts referred to in this Section 3.2. 

3.3 Post Closing Conditions. 

(a) Within fourteen (14) days from the Closing Date, Borrower shall deliver, or cause to be delivered, to Bank original stock certificates
of Visionael, TENROX US, TENROX UK, and TENROX Canada reflecting Silverback Enterprise as the owner, and one stock or bond assignment executed in blank, per stock certificate; and 

(b) Within forty five (45) days after the Closing Date, Borrower shall deliver a landlord subordination agreement, collateral access
agreement or bailment waiver, as applicable, for the location with the address 1512–1080 Beaver Hall; Montreal, Quebec H2Z 1S8, together with a copy of the lease, warehouse or bailment agreement, as applicable, for such location. 

4. CREATION OF SECURITY INTEREST. 
 4.1
Grant of Security Interest. Borrower grants and pledges to Bank a continuing security interest in the Collateral, now existing or hereafter acquired, to secure prompt repayment of any and all Obligations and to secure prompt performance by
Borrower of each of its covenants and duties under the Loan Documents (other than any warrant issued by Borrower to Bank). Except as set forth in the Schedule and for Permitted Liens that are not required to be subordinate to Bank’s Liens, such
security interest constitutes a valid, first priority security interest in the presently existing Collateral, and will constitute a valid, first priority security interest in later-acquired Collateral. Notwithstanding any termination of this
Agreement, Bank’s Lien on the Collateral shall remain in effect for so long as any Obligations (other than inchoate indemnity obligations) are outstanding. 

4.2 Perfection of Security Interest. Borrower authorizes Bank to file at any time financing statements, continuation statements, and
amendments thereto that (i) either specifically describe the Collateral or describe the Collateral as all assets of Borrower of the kind pledged hereunder, and (ii) contain any other information required by the Code for the sufficiency of
filing office acceptance of any financing statement, continuation statement, or amendment, including whether Borrower is an organization, the type of organization and any organizational identification number issued to Borrower, if applicable. Any
such financing statements may be filed by Bank at any time in any jurisdiction whether or not Revised Article 9 of the Code is then in effect in that jurisdiction. Borrower shall from time to time endorse and deliver to Bank, at the request of Bank,
all Negotiable Collateral and other documents that Bank may reasonably request, in form satisfactory to Bank, to perfect and continue perfection of Bank’s security interests in the Collateral and in order to fully consummate all of the
transactions contemplated under the Loan Documents. Borrower shall have possession of the Collateral, except where expressly otherwise provided in this Agreement or where Bank chooses to perfect its security interest by possession in addition to the
filing of a financing statement. Where Collateral is in possession of a third party, Borrower shall take such steps as Bank reasonably requests for Bank (i) to obtain an acknowledgment, in form and substance satisfactory to Bank, of the bailee
of any Collateral with an aggregate book value in excess of Two Hundred Fifty Thousand Dollars ($250,000), that the bailee holds such Collateral for the benefit of Bank; provided, however, the aggregate book value of all such Collateral locations
not subject to the preceding requirement shall not exceed Five Hundred Thousand Dollars ($500,000) at any time, (ii) to obtain “control” of any Collateral consisting of investment property, deposit accounts, letter-of-credit rights or
electronic chattel paper (as such items and the term “control” are defined in Revised Article 9 of the Code, the PPSA or Securities Transfer Act in the applicable jurisdiction) by causing the securities intermediary or depositary
institution or issuing bank to execute a control agreement in form and substance satisfactory to Bank. Borrower will not create any chattel paper in which Borrower is a lessor or secured party without placing a legend on the chattel paper acceptable
to Bank indicating that Bank has a security interest in the chattel paper. Borrower from time to time may deposit with Bank specific cash collateral to secure specific Obligations; Borrower authorizes Bank to hold such specific balances in pledge
and to decline to honor any drafts thereon or any request by Borrower or any other Person to pay or otherwise transfer any part of such balances for so long as the specific Obligations are outstanding. 

  
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 4.3 Right to Inspect. Bank (through any of its officers, employees, or agents) shall have
the right, upon reasonable prior notice, from time to time during Borrower’s usual business hours but no more than once a year (unless an Event of Default has occurred and is continuing), to inspect Borrower’s Books and to make copies
thereof and to check, test, and appraise the Collateral in order to verify Borrower’s financial condition or the amount, condition of, or any other matter relating to, the Collateral. 

5. REPRESENTATIONS AND WARRANTIES. 

Borrower represents and warrants as follows: 

5.1 Due Organization and Qualification. Borrower and each Subsidiary of Borrower are duly existing under the laws of the jurisdiction
in which it is incorporated or organized, as applicable, and qualified and licensed to do business in any state in which the conduct of its business or its ownership of property requires that it be so qualified, except where the failure to do so
could not reasonably be expected to cause a Material Adverse Effect. 
 5.2 Due Authorization; No Conflict. The execution, delivery,
and performance of the Loan Documents are within Borrower’s powers, have been duly authorized, and are not in conflict with nor constitute a breach of any provision contained in Borrower’s organizational documents, nor will they constitute
an event of default under any material agreement by which Borrower is bound. Borrower is not in default under any agreement by which it is bound, except to the extent such default would not reasonably be expected to cause a Material Adverse Effect.

 5.3 Collateral. Borrower has rights in or the power to transfer the Collateral, and its title to the Collateral is free and clear
of Liens, adverse claims, and restrictions on transfer or pledge except for Permitted Liens and restrictions created under this Agreement. All Collateral is located solely in the Collateral Locations. All Inventory is in all material respects of
good and merchantable quality, free from all material defects, except for Inventory for which adequate reserves have been made. Except as set forth in the Schedule, none of the Collateral consisting of deposit or investment accounts is maintained or
invested with a Person other than Bank or Bank’s Affiliates, provided that accounts at Bank’s Affiliates are governed by a control agreement in form and substance acceptable to Bank. 

5.4 Intellectual Property Collateral. Borrower is the sole owner of the Intellectual Property Collateral, except for non-exclusive
licenses granted by Borrower to its customers in the ordinary course of business. To the best of Borrower’s knowledge, each of the Copyrights, Trademarks and Patents is valid and enforceable, and no part of the Intellectual Property Collateral
has been judged invalid or unenforceable, in whole or in part, and no claim has been made to Borrower in writing that any part of the Intellectual Property Collateral violates the rights of any third party except to the extent such claim could not
reasonably be expected to cause a Material Adverse Effect. Except as set forth in the Schedule, Borrower’s rights as a licensee of intellectual property do not give rise to more than 5% of its gross revenue in any given month, including without
limitation revenue derived from the sale, licensing, rendering or disposition of any product or service. 
 5.5 Name; Location of Chief
Executive Office. Except as disclosed in the Schedule, Borrower has not done business under any name other than that specified on the signature page hereof, and its exact legal name is as set forth in the first paragraph of this Agreement or
such other name as Borrower has given notice of in accordance with Section 7.2. The chief executive office of Borrower is located in the Chief Executive Office Location at the address indicated in Section 10 hereof or such other address as
Borrower has given notice of in accordance with Section 7.2. 
 5.6 Actions, Suits, Litigation, or Proceedings. Except as set
forth in the Schedule, there are no actions, suits, litigation or proceedings, at law or in equity, pending by or against Borrower or any Subsidiary of Borrower before any court, administrative agency, or arbitrator in which a likely adverse
decision could reasonably be expected to have a Material Adverse Effect. 

  
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 5.7 No Material Adverse Change in Financial Statements. All consolidated and consolidating
financial statements related to Borrower and any Subsidiary of Borrower that are delivered by Borrower to Bank fairly present in all material respects Borrower’s consolidated and consolidating financial condition as of the date thereof and
Borrower’s consolidated and consolidating results of operations for the period then ended. There has not been a material adverse change in the consolidated or in the consolidating financial condition of Borrower since the date of the most
recent of such financial statements submitted to Bank. 
 5.8 Solvency, Payment of Debts. Borrower is able to pay its debts
(including trade debts) as they mature; the fair saleable value of Borrower’s assets (including goodwill minus disposition costs) exceeds the fair value of its liabilities; and Borrower is not left with unreasonably small capital after the
transactions contemplated by this Agreement. 
 5.9 Compliance with Laws and Regulations. Borrower and each Subsidiary have met the
minimum funding requirements of ERISA with respect to any employee benefit plans subject to ERISA. No event has occurred resulting from Borrower’s failure to comply with ERISA that is reasonably likely to result in Borrower’s incurring any
liability that could reasonably be expected to have a Material Adverse Effect. Neither Borrower nor any Subsidiary has any undisclosed or unfunded liabilities under Canadian Pension Plans or Canadian Benefit Plans. Borrower is not an
“investment company” or a company “controlled” by an “investment company” within the meaning of the Investment Company Act of 1940. Borrower is not engaged principally, or as one of the important activities, in the
business of extending credit for the purpose of purchasing or carrying margin stock (within the meaning of Regulations T and U of the Board of Governors of the Federal Reserve System). Borrower has complied in all material respects with all the
provisions of the Federal Fair Labor Standards Act, An Act Respecting Labour Standards (Quebec), An Act Respecting Occupational Health and Safety (Quebec), An Act Respecting Industrial Accidents and Occupational Diseases
(Quebec) or any other applicable federal, provincial, territorial, state, local or foreign law dealing with such matters. Borrower is in compliance with all environmental laws, regulations and ordinances except where the failure to comply is not
reasonably likely to have a Material Adverse Effect. Borrower has not violated any statutes, laws, ordinances or rules applicable to it, the violation of which could reasonably be expected to have a Material Adverse Effect. Borrower and each
Subsidiary of Borrower have filed or caused to be filed all tax returns required to be filed, and have paid, or have made adequate provision for the payment of, all taxes reflected therein except those being contested in good faith with adequate
reserves under GAAP or where the failure to file such returns or pay such taxes could not reasonably be expected to have a Material Adverse Effect. 

5.10 Subsidiaries. Borrower does not own any stock, partnership interest or other equity securities of any Person, except for Permitted
Investments and except as set forth on the Schedule. 
 5.11 Government Consents. Borrower and each Subsidiary have obtained all
consents, approvals and authorizations of, made all declarations or filings with, and given all notices to, all governmental authorities that are necessary for the continued operation of Borrower’s business as currently conducted, except where
the failure to do so would not reasonably be expected to cause a Material Adverse Effect. 
 5.12 Inbound Licenses. Except as
disclosed on the Schedule, Borrower is not a party to, nor is bound by, any material inbound license or other agreement, the failure, breach, or termination of which could reasonably be expected to cause a Material Adverse Effect, or that prohibits
or otherwise restricts Borrower from granting a security interest in Borrower’s interest in such license. 
 5.13 Full
Disclosure. No representation, warranty or other statement made by Borrower in any certificate or written statement furnished to Bank taken together with all such certificates and written statements furnished to Bank contains any untrue
statement of a material fact or omits to state a material fact necessary in order to make the statements contained in such certificates or statements not misleading, it being recognized by Bank that the projections and forecasts provided by Borrower
in good faith and based upon reasonable assumptions are not to be viewed as facts and that actual results during the period or periods covered by any such projections and forecasts may differ from the projected or forecasted results. 

5.14 No Material Adverse Effect. No Material Adverse Effect or event reasonably expected to cause a Material Adverse Effect has
occurred. 

  
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 5.15 Acquisition Documents. As of the Closing Date: 

(a) Borrower has furnished Bank with true, correct and complete execution copies of all Acquisition Documents. Borrower has taken all necessary
corporate action to authorize the execution, delivery and performance of each Acquisition Document to which it is a party. 
 (b) Borrower
has complied with all applicable federal, state, provincial and local laws, ordinances, codes, rules, regulations and guidelines (including consent decrees and administrative orders) relating to the consummation of the Acquisition and all applicable
waiting periods with respect to the transactions contemplated by the Acquisition Documents have expired without any action being taken by any competent governmental authority which restrains, prevents or imposes material adverse conditions upon the
consummation of such transactions. 
 (c) All necessary authorization, consent, approval, license, qualification or formal exemption from,
and all necessary filing, declaration or registration with, any court, governmental agency or regulatory authority or any securities exchange or any other Person (whether or not governmental, and including without limit any shareholder, partner or
member of an applicable party) required to be made prior to the closing of the Acquisition in connection with the execution, delivery and performance by Borrower, and to Borrower’s best knowledge, each other party to the Acquisition Documents
to which Borrower or such other Person is a party, have been obtained and will be in full force and effect, and, to the knowledge of Borrower, are not the subject of any attack or threatened attack (in each case in any material respect) by appeal or
direct proceeding or otherwise. 
 (d) The execution, delivery and performance of the Acquisition Documents, and the consummation of the
transactions contemplated thereby, are not in contravention of the terms of any indenture, material contract, instrument, any judgment, order or decree, to which Borrower is a party or by which it or its properties are bound, except, in each case,
where such contravention could not reasonably be expected to have a Material Adverse Effect. 
 (e) Borrower has not granted a collateral
assignment of, or a security interest over the Acquisition Documents (other than in favor of Bank) and Borrower has not sold, transferred or assigned any Acquisition Document to any Person (other than to or in favor of Bank). 

(f) No Acquisition Document to which Borrower is a party has been modified, amended, altered or changed in any manner except in compliance with
Section 7.12 of this Agreement, and to Borrower’s best knowledge, there are no unwaived defaults existing under the Acquisition Documents by Borrower that is a party thereto, or, to the best of the knowledge of Borrower, by any other party
thereto. 
 6. AFFIRMATIVE COVENANTS. 

Borrower covenants that, until payment in full of all outstanding Obligations (other than inchoate indemnity obligations), and for so long as
Bank may have any commitment to make a Credit Extension hereunder, Borrower shall do all of the following: 
 6.1 Good Standing and
Government Compliance. Borrower shall maintain its, and each of its Subsidiaries’ organizational existence and good standing in its respective state or jurisdiction of organization or incorporation, as applicable, shall maintain
qualification and good standing in each other jurisdiction in which the failure to so qualify could reasonably be expected to have a Material Adverse Effect, and shall furnish to Bank the organizational identification number issued to Borrower by
the authorities of the jurisdiction in which Borrower is organized, if applicable. Borrower shall meet, and shall cause each of its Subsidiaries to meet, as applicable, the minimum funding requirements of ERISA with respect to any employee benefit
plans subject to ERISA. Borrower shall ensure that each Canadian Pension Plan and Canadian Benefit Plan is administered in a timely manner in all respects in accordance with the applicable pension plan text, funding agreement, the Income Tax Act
(Canada) and all other applicable laws. Borrower shall comply in all material respects with all applicable Environmental Laws, and maintain all material permits, licenses and approvals required thereunder where the failure to do so could reasonably
be expected to have a Material Adverse Effect. Borrower shall comply, and shall cause each of its Subsidiaries to comply, with all statutes, laws, ordinances and government rules and regulations to which it is subject, and shall maintain, and shall
cause each of its Subsidiaries to maintain, in force all licenses, approvals and agreements, the loss of which or failure to comply with which would reasonably be expected to have a Material Adverse Effect. 

  
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 6.2 Financial Statements, Reports, Certificates. Borrower shall deliver or cause to be
delivered to Bank: (i) as soon as available, but in any event within thirty (30) days after the end of each calendar month, commencing with the calendar month ending May 31, 2012, a company prepared consolidated and consolidating
balance sheet, income statement and statement of cash flows covering Borrower’s and its consolidated Subsidiaries’ and Silverback Enterprise’s and its consolidated Subsidiaries’ operations during such period, prepared in
accordance with GAAP, and in a form reasonably acceptable to Bank and certified by a Responsible Officer; (ii) as soon as available, but in any event within one hundred fifty (150) days after the end of Borrower’s fiscal year, company
prepared consolidated and consolidating financial statements of Borrower prepared in accordance with GAAP, consistently applied; (iii) as soon as available, but in any event within one hundred fifty (150) days after the end of Silverback
Enterprise’s fiscal year, audited consolidated financial statements of Silverback Enterprise prepared in accordance with GAAP, consistently applied, together with an opinion which is unqualified (including no going concern comment or
qualification) or otherwise consented to in writing by Bank on such financial statements of an independent certified public accounting firm reasonably acceptable to Bank; (v) if applicable, copies of all statements, reports and notices sent or
made available generally by Borrower to its security holders or to any holders of Subordinated Debt and all reports on Forms 10-K and 10-Q filed with the Securities and Exchange Commission; (v) promptly upon receipt of notice thereof, a report
of any legal actions pending or threatened in writing against Borrower, any Subsidiary or any Guarantor that could result in damages or costs to Borrower, any Subsidiary or any Guarantor of One Hundred Thousand Dollars ($100,000) or more;
(vi) promptly upon receipt, each management letter prepared by Borrower’s independent certified public accounting firm regarding Borrower’s management control systems; (vii) as soon as available, but in any event not later than
December 31 of each year, Silverback Enterprise’s financial and business projections and budget for the immediately following year, which projections shall include a consolidated and consolidating balance sheet, income statement and
statement of cash flows, with evidence of approval thereof by Silverback Enterprise’s board of directors; (viii) such budgets, sales projections, operating plans or other financial information generally prepared by Borrower in the ordinary
course of business as Bank may reasonably request from time to time; and (ix) within thirty (30) days of the last day of each fiscal quarter, a report signed by Borrower, in form reasonably acceptable to Bank, listing any applications or
registrations that Borrower has made or filed in respect of any Patents, Copyrights or Trademarks and the status of any outstanding applications or registrations, as well as any material change in Borrower’s Intellectual Property Collateral,
including but not limited to any subsequent ownership right of Borrower in or to any Trademark, Patent or Copyright not specified in Exhibits A, B, and C of any Intellectual Property Security Agreement delivered to Bank by
Borrower in connection with this Agreement. 
 (a) Within thirty (30) days after the last day of each month, Borrower shall deliver to
Bank aged listings by invoice date of accounts receivable and accounts payable, which shall be certified by a Responsible Officer. 
 (b)
Within thirty (30) days after the last day of each month, Borrower shall deliver to Bank with the monthly financial statements a Compliance Certificate certified as of the last day of the applicable month and signed by a Responsible Officer in
substantially the form of Exhibit D hereto. 
 (c) Within three (3) Business Days after becoming aware of the occurrence or
existence of an Event of Default hereunder, a written statement of a Responsible Officer setting forth details of the Event of Default, and the action which Borrower has taken or proposes to take with respect thereto. 

(d) Bank shall have a right from time to time hereafter to audit Borrower’s Accounts and appraise Collateral at Borrower’s expense,
provided that such audits will be conducted no more often than once every twelve (12) months unless an Event of Default has occurred and is continuing. 

Borrower may deliver to Bank on an electronic basis any certificates, reports or information required pursuant to this Section 6.2, and
Bank shall be entitled to rely on the information contained in the electronic files, provided that Bank in good faith believes that the files were delivered by a Responsible Officer. If Borrower delivers this information electronically, it shall
also deliver to Bank by U.S. Mail, reputable overnight courier service, hand delivery, facsimile or .pdf file within five (5) Business Days of submission of the unsigned electronic copy the certification of monthly financial statements, the
intellectual property report and the Compliance Certificate, each bearing the physical signature of the Responsible Officer. 

  
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 6.3 Inventory; Returns. Borrower shall keep all Inventory in good and merchantable
condition, free from all material defects except for Inventory for which adequate reserves have been made. Returns and allowances, if any, as between Borrower and its account debtors shall be on the same basis and in accordance with the usual
customary practices of Borrower, as they exist on the Closing Date. Borrower shall promptly notify Bank of all returns and recoveries and of all disputes and claims involving more than One Hundred Thousand Dollars ($100,000). 

6.4 Taxes. Borrower shall make, and cause each of its Subsidiaries to make, due and timely payment or deposit of all material federal,
state, and local taxes, assessments, or contributions required of it by law, including, but not limited to, those laws concerning income taxes, F.I.C.A., F.U.T.A. and state disability, and will execute and deliver to Bank, on demand, proof
satisfactory to Bank indicating that Borrower or a Subsidiary of Borrower has made such payments or deposits and any appropriate certificates attesting to the payment or deposit thereof; provided that Borrower or a Subsidiary of Borrower need not
make any payment if the amount or validity of such payment is contested in good faith by appropriate proceedings and is reserved against (to the extent required by GAAP) by Borrower or its Subsidiary, as applicable. 

6.5 Insurance. 
 (a)
Borrower, at its expense, shall keep the Collateral insured against loss or damage by fire, theft, explosion, sprinklers, and all other hazards and risks, and in such amounts, as ordinarily insured against by other owners in similar businesses
conducted in the locations where Borrower’s business is conducted on the date hereof. Borrower shall also maintain liability and other insurance in amounts and of a type that are customary to businesses similar to Borrower’s. 

(b) All such policies of insurance shall be in such form, with such companies, and in such amounts as reasonably satisfactory to Bank. All
policies of property insurance shall contain a lender’s loss payable endorsement, in a form satisfactory to Bank, showing Bank as an additional loss payee, and all liability insurance policies shall show Bank as an additional insured and
specify that the insurer must give at least twenty (20) days notice to Bank before canceling its policy for any reason with the exception of non-payment of premium. Borrower shall immediately provide Bank with copies of any notices of policy
cancellation Borrower receives from an insurer. Upon Bank’s request, Borrower shall deliver to Bank certified copies of the policies of insurance and evidence of all premium payments. If no Event of Default has occurred and is continuing,
proceeds payable under any casualty policy will, at Borrower’s option, be payable to Borrower to replace the property subject to the claim or otherwise acquire property useful to the business of Borrower, provided that if such property
constituted Collateral any such replacement property shall be deemed Collateral in which Bank has been granted a first priority security interest, subject to Permitted Liens that are not required to be subordinate to Bank’s Liens. If an Event
of Default has occurred and is continuing, all proceeds payable under any such policy, to the extent such proceeds constitute Collateral, shall, at Bank’s option, be payable to Bank to be applied on account of the Obligations. 

6.6 Accounts. Within ninety (90) days after the Closing Date, Borrower and each Guarantor shall maintain all of their depository
and operating accounts with Bank and their investment accounts with Bank’s Affiliates covered by a control agreement in form and substance reasonably acceptable to Bank. For the avoidance of doubt, Bank acknowledges and agrees that a control
agreement governing Borrower’s accounts with Bank that are maintained in Canada is not required. 
 6.7 Financial Covenants.
Borrower shall maintain, or cause to be maintained, the following financial ratios and covenants: 
 (a) Borrower’s Minimum Cash.
Maintain at all times, a balance of Borrower’s Cash at Bank of not less than Five Hundred Thousand Dollars ($500,000). 

  
 10 

 Borrower authorizes Bank to decline to honor any drafts upon Borrower’s accounts with Bank
or any requests by Borrower or any other Person to pay or otherwise transfer any part of funds held in such accounts if (i) the aggregate balance of such accounts is less than the minimum cash requirement in effect under this
Section 6.7(a) at such time, or (ii) honoring such drafts or requests would cause the aggregate balance of such accounts to be, less than the minimum cash Requirement in effect under this Section 6.7(a) at such time. 

(b) Silverback Enterprise’s Minimum Cash. On February 22, 2012, and at all times thereafter, maintain a balance of Silverback
Enterprise’s Cash at Bank of not less Five Hundred Thousand Dollars ($500,000). 
 (c) Minimum EBITDA. Tested quarterly,
commencing with the Borrower’s fiscal quarter ending June 30, 2012, EBITDA of not less than (i) One Million Eight Hundred Thousand Dollars ($1,800,000) for the fiscal quarter ending June 30, 2012, (ii) Two Million Dollars
($2,000,000) for the fiscal quarters ending September 30, 2012 and December 31, 20112 and (iii) Two Million Five Hundred Thousand Dollars ($2,500,000) for the fiscal quarter ending March 31, 2013 and thereafter, as determined,
(A) for the three month period ending June 30, 2012, by multiplying EBITDA for such period by four (4), (B) for the six month period ending September 30, 2012, by multiplying EBITDA for such period by two (2), (C) for the
nine month period ending December 31, 2012, by multiplying EBITDA for such period by four-thirds (4/3), and (D) on a trailing twelve month basis for all testing periods commencing with the quarter ending March 31, 2013 and thereafter.

 6.8 Registration of Intellectual Property Rights. 

(a) Borrower shall register or cause to be registered on an expedited basis (to the extent not already registered) with the United States
Patent and Trademark Office or the United States Copyright Office, as the case may be, those registrable intellectual property rights now owned or hereafter developed or acquired by Borrower, to the extent that Borrower, in its reasonable business
judgment, deems it appropriate to so protect such intellectual property rights. 
 (b) Borrower shall promptly give Bank written notice of
any applications or registrations of intellectual property rights filed with the United States Patent and Trademark Office, including the date of such filing and the registration or application numbers, if any. 

(c) Borrower shall (i) give Bank not less than thirty (30) days prior written notice of the filing of any applications or
registrations with the United States Copyright Office, including the title of such intellectual property rights to be registered, as such title will appear on such applications or registrations, and the date such applications or registrations will
be filed; (ii) prior to the filing of any such applications or registrations, execute such documents as Bank may reasonably request for Bank to maintain its perfection in such intellectual property rights to be registered by Borrower;
(iii) upon the request of Bank, either deliver to Bank or file such documents simultaneously with the filing of any such applications or registrations; (iv) upon filing any such applications or registrations, promptly provide Bank with a
copy of such applications or registrations together with any exhibits, evidence of the filing of any documents requested by Bank to be filed for Bank to maintain the perfection and priority of its security interest in such intellectual property
rights, and the date of such filing. 
 (d) Borrower shall execute and deliver such additional instruments and documents from time to time as
Bank shall reasonably request to perfect and maintain the perfection and priority of Bank’s security interest in the Intellectual Property Collateral. 

(e) Borrower shall use commercially reasonably efforts to (i) protect, defend and maintain the validity and enforceability its material
Trademarks, Patents, Copyrights, and trade secrets, (ii) detect infringements of the Trademarks, Patents and Copyrights and promptly advise Bank in writing of material infringements detected and (iii) not allow any material Trademarks,
Patents or Copyrights to be abandoned, forfeited or dedicated to the public unless Borrower, in each case, deems, in its reasonable business judgment, that it is in the best interest of Borrower’s business to do otherwise or has obtained the
written consent of Bank, which shall not be unreasonably withheld. 

  
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 (f) Bank may audit Borrower’s Intellectual Property Collateral to confirm compliance with
this Section 6.8, provided such audit may not occur more often than once per year, unless an Event of Default has occurred and is continuing. Bank shall have the right, but not the obligation, to take, at Borrower’s sole expense, any
actions that Borrower is required under this Section 6.8 to take but which Borrower fails to take, after fifteen (15) days’ notice to Borrower. Borrower shall reimburse and indemnify Bank for all reasonable costs and reasonable
expenses incurred in the reasonable exercise of its rights under this Section 6.8. 
 6.9 Consent of Inbound Licensors. Prior to
entering into or becoming bound by any material inbound license (other than over-the-counter software that is commercially available to the public), the failure, breach, or termination of which could reasonably be expected to cause a Material
Adverse Effect, Borrower shall: (i) provide written notice to Bank of the material terms of such agreement with a description of its likely impact on Borrower’s business or financial condition; and (ii) in good faith take such actions
as Bank may reasonably request to obtain the consent of, or waiver by, any person whose consent or waiver is necessary for (A) Borrower’s interest in such licenses or contract rights to be deemed Collateral and for Bank to have a security
interest in it that might otherwise be restricted by the terms of the applicable license or agreement, whether now existing or entered into in the future, and (B) Bank to have the ability in the event of a liquidation of any Collateral to
dispose of such Collateral in accordance with Bank’s rights and remedies under this Agreement and the other Loan Documents, provided, however, that the failure to obtain any such consent or waiver shall not constitute a default under this
Agreement. 
 6.10 Further Assurances. At any time and from time to time Borrower shall execute and deliver such further instruments
and take such further action as may reasonably be requested by Bank to effect the purposes of this Agreement. 
 7. NEGATIVE COVENANTS. 

Borrower covenants and agrees that, so long as any credit hereunder shall be available and until the outstanding Obligations (other than
inchoate indemnity obligations) are paid in full or for so long as Bank may have any commitment to make any Credit Extensions, Borrower will not do any of the following without Bank’s prior written consent, which shall not be unreasonably
withheld: 
 7.1 Dispositions. Convey, sell, lease, license, transfer or otherwise dispose of (collectively, to
“Transfer”), or permit any of its Subsidiaries to Transfer, all or any part of its business or property, or subject to Section 6.6 of the Agreement, move cash balances on deposit with Bank to accounts opened at another financial
institution, other than Permitted Transfers. 
 7.2 Change in Name, Location, Executive Office, or Executive Management; Change in
Business; Change in Fiscal Year; Change in Control. Change its name or the Borrower Location or relocate its chief executive office without thirty (30) days prior written notification to Bank; replace its chief executive officer or chief
financial officer without prompt prior written notification to Bank; engage in any business, or permit any of its Subsidiaries to engage in any business, other than or reasonably related or incidental to the businesses currently engaged in by
Borrower; change its fiscal year end; or have a Change in Control. 
 7.3 Mergers or Acquisitions. Other than the amalgamation
permitted under Section 14, amalgamate, merge or consolidate, or permit any of its Subsidiaries to merge or consolidate, with or into any other business organization (other than mergers or consolidations of a Subsidiary into another Subsidiary
or into Borrower), or acquire, or permit any of its Subsidiaries to acquire, all or substantially all of the capital stock or property of another Person, or enter into any agreement to do any of the same, other than the Acquisition and except where
(i) the cash consideration paid by Borrower or its Subsidiaries in connection with such transactions do not in the aggregate exceed One Hundred Thousand Dollars ($100,000) during any fiscal year, (ii) no Event of Default has occurred, is
continuing or would exist after giving effect to such transactions, (iii) such transactions do not result in a Change in Control, and (iv) Borrower is the surviving entity, if it is a party to the merger. 

7.4 Indebtedness. Create, incur, assume, guarantee or be or remain liable with respect to any Indebtedness, or permit any of its
Subsidiaries to do so, other than Permitted Indebtedness, or prepay any Indebtedness or take any actions which impose on Borrower an obligation to prepay any Indebtedness, except Indebtedness to Bank. 

  
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 7.5 Encumbrances. Create, incur, assume or allow any Lien with respect to any of its
property, or assign or otherwise convey any right to receive income, including the sale of any Accounts, or permit any of its Subsidiaries so to do, except for Permitted Liens, or covenant to any other Person that Borrower in the future will refrain
from creating, incurring, assuming or allowing any Lien with respect to any of Borrower’s property (a “Negative Pledge Covenant”) except for (i) Negative Pledge Covenants with respect to specific property subject to a Lien
described in, and permitted by, subsection (c) of the defined term Permitted Liens, and (ii) Negative Pledge Covenants in merger or acquisition agreements, provided that (1) the counter-parties to such Negative Pledge Covenants do not
receive a security interest in Borrower’s property and (2) on or prior to the consummation of such acquisition or merger Borrower shall either be required to repay the Obligations in accordance with the provisions hereunder or Borrower
shall have obtained Bank’s written consent to such acquisition or merger. 
 7.6 Distributions. Pay any dividends or make any
other distribution or payment on account of or in redemption, retirement or repurchase of any capital stock, except that Borrower may (i) repurchase the stock of former employees, directors and consultants pursuant to stock repurchase
agreements in an aggregate amount not to exceed One Hundred Thousand Dollars ($100,000) during any fiscal year as long as an Event of Default does not exist prior to such repurchase or would not exist after giving effect to such repurchase, and
(ii) repurchase the stock of former employees, directors and consultants pursuant to stock repurchase agreements by the cancellation of indebtedness owed by such former employees to Borrower regardless of whether an Event of Default exists,
(iii) pay dividends in equity securities, (iv) convert any of its convertible securities (including warrants) into other securities pursuant to the terms of such convertible securities, and (v) make cash payments in lieu of the
issuance of fractional shares; provided, that the aggregate amount of such payments made during a fiscal year, when added to the aggregate amount of payments made under clause (i) above during such fiscal year, does not exceed One
Hundred Thousand Dollars ($100,000). 
 7.7 Investments. Directly or indirectly acquire or own, or make any Investment in or to any
Person, or permit any of its Subsidiaries so to do, other than Permitted Investments, or, subject to Section 6.6, maintain or invest any of its property consisting of deposit and investment accounts with a Person other than Bank or Bank’s
Affiliates subject to a control agreement or permit any of its Subsidiaries to do so unless such Person has entered into a control agreement with Bank, in form and substance satisfactory to Bank, or suffer or permit any of its Subsidiaries to be a
party to, or be bound by, an agreement that restricts such Subsidiary of Borrower from paying dividends or otherwise distributing property to Borrower. For the avoidance of doubt, Bank acknowledges and agrees that a control agreement governing
Borrower’s or any of its Subsidiaries’ accounts with Bank that are maintained in Canada is not required. Further, Borrower shall not enter into any license or agreement with any Prohibited Territory or with any Person organized under or
doing business in a Prohibited Territory. 
 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, 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 permitted under Article 7 of this Agreement; (iii) employment or compensation arrangements and employee benefit plans approved by
Borrower’s board of directors and entered into in the ordinary course of Borrower’s business and (iv) equity investments (that are not in the form of notes without the prior written consent of Bank) with Borrower’s existing
investors provided that a Change in Control does not result. 
 7.9 Subordinated Debt. Make any payment in respect of any
Subordinated Debt, or permit any of its Subsidiaries to make any such payment, except in compliance with the terms of such Subordinated Debt and the terms of the subordination agreement relating to such Subordinated Debt, or amend any provision of
any document evidencing such Subordinated Debt, except in compliance with the terms of the subordination agreement relating to such Subordinated Debt, or amend any provision affecting Bank’s rights contained in any documentation relating to the
Subordinated Debt without Bank’s prior written consent. 
 7.10 Inventory and Equipment. Store the Inventory or the Equipment
having an aggregate book value in excess of Two Hundred Fifty Thousand Dollars ($250,000) with a bailee, warehouseman, or similar third party unless the third party has been notified of Bank’s security interest and Bank (a) has received an
acknowledgment from the third party that it is holding or will hold the Inventory or Equipment for Bank’s benefit or (b) is in possession of the warehouse receipt, where negotiable, covering such Inventory or

  
 13 

 
Equipment; provided, however, that the aggregate book value of all Equipment and Inventory at all locations not subject to the foregoing requirements shall not exceed Five Hundred Thousand
Dollars ($500,000) at any time. Except for Inventory sold in the ordinary course of business and movable items of personal property such as laptop computers and except for such other locations as Bank may approve in writing, Borrower shall keep the
Inventory and Equipment only at the location set forth in Section 10, 600 Armand Frappier Blvd., Laral, Quebec H7V 4B4, Canada, and such other locations of which Borrower gives Bank prior written notice and as to which Bank files a financing
statement where needed to perfect its security interest. 
 7.11 No Investment Company; Margin Regulation. Become or be controlled by
an “investment company,” within the meaning of the Investment Company Act of 1940, or become principally engaged in, or undertake as one of its important activities, the business of extending credit for the purpose of purchasing or
carrying margin stock, or use the proceeds of any Credit Extension for such purpose. 
 7.12 Modification of Acquisition Documents.
Make or consent to any material amendment or other material modification to the Acquisition Documents without the prior written consent of Bank, except to the extent that any such amendment or modification (i) does not violate the terms and
conditions of this Agreement or any of the other Loan Documents, (ii) does not materially and adversely affect the interest of the Bank as creditor and/or as secured party under any Loan Document and (iii) could not reasonably be expected
to have a Material Adverse Effect. 
 8. EVENTS OF DEFAULT. 

Any one or more of the following events shall constitute an Event of Default by Borrower under this Agreement: 

8.1 Payment Default. If Borrower fails to pay any of the Obligations when due; 

8.2 Covenant Default. 

(a) If Borrower fails to perform any obligation under Section 6.2, 6.4, 6.5, 6.6 or 6.7, or violates any of the covenants contained in
Article 7 of this Agreement; 
 (b) If Borrower fails or neglects to perform any obligation under Sections 6.1, 6.3, 6.8, 6.9 or 6.10 and has
failed to cure such default within 10 days after Borrower receives notice thereof or any officer of Borrower becomes aware thereof; or 
 (c)
If Borrower fails or neglects to perform or observe any other material term, provision, condition, covenant contained in this Agreement, in any of the Loan Documents, or in any other present or future agreement between Borrower and Bank and as to
any default under such other term, provision, condition or covenant that can be cured, has failed to cure such default within ten (10) days after Borrower receives notice thereof or any officer of Borrower becomes aware thereof; provided,
however, that if the default cannot by its nature be cured within the ten (10) day period or cannot after diligent attempts by Borrower be cured within such ten (10) day period, and such default is likely to be cured within a reasonable
time, then Borrower shall have an additional reasonable period (which shall not in any case exceed thirty (30) days) to attempt to cure such default, so long as Borrower continues to diligently attempt to cure such default, and within such
reasonable time period the failure to have cured such default shall not be deemed an Event of Default but no Credit Extensions will be made; 

8.3 Material Adverse Change. If there occurs any circumstance or circumstances that could reasonably be expected to have a Material
Adverse Effect; 
 8.4 Defective Perfection. If Bank shall receive at any time following the Closing Date lien searches indicating
that except for Permitted Liens, Bank’s security interest in the Collateral is not prior to all other security interests or Liens of record reflected in the report; 

  
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 8.5 Attachment. If any material portion of Borrower’s or any of its
Subsidiaries’ assets is attached, seized, subjected to a writ or distress warrant, or is levied upon, or comes into the possession of any trustee, receiver or person acting in a similar capacity and such attachment, seizure, writ or distress
warrant or levy has not been removed, discharged or rescinded within five (5) days, or if Borrower or any of its Subsidiaries is enjoined, restrained, or in any way prevented by court order from continuing to conduct all or any material part of
its business affairs, or if a judgment or other claim becomes a lien or encumbrance upon any material portion of Borrower’s or any of its Subsidiaries’ assets, or if a notice of lien, levy, or assessment is filed of record with respect to
any of Borrower’s or any of its Subsidiaries’ assets by the United States Government, or any department, agency, or instrumentality thereof, or by any state, county, municipal, or governmental agency, and the same is not paid within five
(5) days after Borrower receives notice thereof, provided that none of the foregoing shall constitute an Event of Default where such action or event is stayed or an adequate bond has been posted pending a good faith contest by Borrower or a
Subsidiary of Borrower, as applicable (provided that no Credit Extensions will be made during such cure period); 
 8.6 Insolvency.
If Borrower or a Subsidiary of Borrower becomes insolvent, or if an Insolvency Proceeding is commenced by Borrower or a Subsidiary of Borrower, or if an Insolvency Proceeding is commenced against Borrower or a Subsidiary of Borrower and is not
dismissed or stayed within thirty (30) days (provided that no Credit Extensions will be made prior to the dismissal of such Insolvency Proceeding); 

8.7 Other Agreements. If there is a default or other failure to perform in any agreement to which Borrower is a party with a third
party or parties resulting in a right by such third party or parties, whether or not exercised, to accelerate the maturity of any Indebtedness in an amount in excess of Two Hundred Fifty Thousand Dollars ($250,000) or that would reasonably be
expected to have a Material Adverse Effect; 
 8.8 Subordinated Debt. If Borrower or any of its Subsidiaries makes any payment on
account of Subordinated Debt, except to the extent such payment is allowed under the terms of any subordination agreement entered into with Bank; 

8.9 Judgments; Settlements. If one or more (a) judgments, orders, decrees or arbitration awards requiring the Borrower and/or its
Subsidiaries to pay an aggregate amount of Two Hundred Thousand Dollars ($200,000) or greater shall be rendered against Borrower and/or its Subsidiaries and the same shall not have been vacated or stayed within ten (10) days thereafter
(provided that no Credit Extensions will be made prior to such matter being vacated or stayed); or (b) settlements is agreed by Borrower and/or its Subsidiaries for the payment by Borrower and/or its Subsidiaries of an aggregate amount of Two
Hundred Thousand Dollars ($200,000) or greater; 
 8.10 Misrepresentations. If any material misrepresentation or material
misstatement exists when made or deemed made now or hereafter in any warranty or representation set forth herein or in any certificate delivered to Bank by any Responsible Officer pursuant to this Agreement or to induce Bank to enter into this
Agreement or any other Loan Document; or 
 8.11 Guaranty. If any guaranty of all or a portion of the Obligations (a
“Guaranty”) ceases for any reason to be in full force and effect, or any guarantor fails to perform any obligation under any Guaranty or a security agreement securing any Guaranty (collectively, the “Guaranty Documents”), or any
event of default occurs under any Guaranty Document or any guarantor revokes or purports to revoke a Guaranty, or any material misrepresentation or material misstatement exists now or hereafter in any warranty or representation set forth in any
Guaranty Document or in any certificate delivered to Bank in connection with any Guaranty Document, or if any of the circumstances described in Sections 8.3 through 8.9 occur with respect to any guarantor. 

9. BANK’S RIGHTS AND REMEDIES. 
 9.1
Rights and Remedies. Upon the occurrence and during the continuance of an Event of Default, Bank may, at its election, without notice of its election and without demand, do any one or more of the following, all of which are authorized by
Borrower: 

  
 15 

 (a) Declare all Obligations, whether evidenced by this Agreement, by any of the other Loan
Documents, or otherwise, immediately due and payable (provided that upon the occurrence of an Event of Default described in Section 8.6 (insolvency), all Obligations shall become immediately due and payable without any action by Bank); 

(b) Cease advancing money or extending credit to or for the benefit of Borrower under this Agreement or under any other agreement between
Borrower and Bank; 
 (c) Settle or adjust disputes and claims directly with account debtors for amounts, upon terms and in whatever order
that Bank reasonably considers advisable; 
 (d) Make such payments and do such acts as Bank considers necessary or reasonable to protect its
security interest in the Collateral. Borrower agrees to assemble the Collateral if Bank so requires, and to make the Collateral available to Bank as Bank may designate. Borrower authorizes Bank to enter the premises where the Collateral is located,
to take and maintain possession of the Collateral, or any part of it, and to pay, purchase, contest, or compromise any encumbrance, charge, or lien which in Bank’s determination appears to be prior or superior to its security interest and to
pay all expenses incurred in connection therewith. With respect to any of Borrower’s owned premises, Borrower hereby grants Bank a license to enter into possession of such premises and to occupy the same, without charge, in order to exercise
any of Bank’s rights or remedies provided herein, at law, in equity, or otherwise; 
 (e) Set off and apply to the Obligations any and
all (i) balances and deposits of Borrower held by Bank, and (ii) indebtedness at any time owing to or for the credit or the account of Borrower held by Bank; 

(f) Ship, reclaim, recover, store, finish, maintain, repair, prepare for sale, advertise for sale, and sell (in the manner provided for herein)
the Collateral. Bank is hereby granted a license or other right, solely pursuant to the provisions of this Section 9.1, to use, without charge, Borrower’s labels, patents, copyrights, rights of use of any name, trade secrets, trade names,
trademarks, service marks, and advertising matter, or any property of a similar nature, as it pertains to the Collateral, in completing production of, advertising for sale, and selling any Collateral and, in connection with Bank’s exercise of
its rights under this Section 9.1, Borrower’s rights under all licenses and all franchise agreements shall inure to Bank’s benefit; 

(g) Sell the Collateral at either a public or private sale, or both, by way of one or more contracts or transactions, for cash or on terms, in
such manner and at such places (including Borrower’s premises) as Bank determines is commercially reasonable, and apply any proceeds to the Obligations in whatever manner or order Bank deems appropriate. Bank may sell the Collateral without
giving any warranties as to the Collateral. Bank may specifically disclaim any warranties of title or the like. This procedure will not be considered adversely to affect the commercial reasonableness of any sale of the Collateral. If Bank sells any
of the Collateral upon credit, Borrower will be credited only with payments actually made by the purchaser, received by Bank, and applied to the indebtedness of the purchaser. If the purchaser fails to pay for the Collateral, Bank may resell the
Collateral and Borrower shall be credited with the proceeds of the sale; 
 (h) Bank may credit bid and purchase at any public sale; 

(i) Apply for the appointment of a receiver, trustee, liquidator or conservator of the Collateral, without notice and without regard to the
adequacy of the security for the Obligations and without regard to the solvency of Borrower, any guarantor or any other Person liable for any of the Obligations; and 

(j) Any deficiency that exists after disposition of the Collateral as provided above will be paid immediately by Borrower. 

Bank may comply with any applicable state, provincial or federal law requirements in connection with a disposition of the Collateral and compliance will not
be considered adversely to affect the commercial reasonableness of any sale of the Collateral. 

  
 16 

 9.2 Power of Attorney. Effective only upon the occurrence and during the continuance of an
Event of Default, Borrower hereby irrevocably appoints Bank (and any of Bank’s designated officers, or employees) as Borrower’s true and lawful attorney to: (a) send requests for verification of Accounts or notify account debtors of
Bank’s security interest in the Accounts; (b) endorse Borrower’s name on any checks or other forms of payment or security that may come into Bank’s possession; (c) sign Borrower’s name on any invoice or bill of lading
relating to any Account, drafts against account debtors, schedules and assignments of Accounts, verifications of Accounts, and notices to account debtors; (d) dispose of any Collateral; (e) make, settle, and adjust all claims under and
decisions with respect to Borrower’s policies of insurance; (f) settle and adjust disputes and claims respecting the accounts directly with account debtors, for amounts and upon terms which Bank determines to be reasonable; (g) enter
into a short-form intellectual property security agreement consistent with the terms of this Agreement for recording purposes only or modify, in its sole discretion, any intellectual property security agreement entered into between Borrower and Bank
without first obtaining Borrower’s approval of or signature to such modification by amending Exhibits A, B, and C, thereof, as appropriate, to include reference to any right, title or interest in any Copyrights, Patents or
Trademarks acquired by Borrower after the execution hereof or to delete any reference to any right, title or interest in any Copyrights, Patents or Trademarks in which Borrower no longer has or claims to have any right, title or interest; and
(h) file, in its sole discretion, one or more financing or continuation statements and amendments thereto, relative to any of the Collateral without the signature of Borrower where permitted by law; provided Bank may exercise such power of
attorney to sign the name of Borrower on any of the documents described in clauses (g) and (h) above, regardless of whether an Event of Default has occurred. The appointment of Bank as Borrower’s attorney in fact, and each and every
one of Bank’s rights and powers, being coupled with an interest, is irrevocable until all of the Obligations (other than inchoate indemnity obligations) have been fully repaid and performed and Bank’s obligation to provide advances
hereunder is terminated. 
 9.3 Accounts Collection. At any time after the occurrence and during the continuation of an Event of
Default, Bank may notify any Person owing funds to Borrower of Bank’s security interest in such funds and verify the amount of such Account. Borrower shall collect all amounts owing to Borrower for Bank, receive in trust all payments as
Bank’s trustee, and immediately deliver such payments to Bank in their original form as received from the account debtor, with proper endorsements for deposit. 

9.4 Bank Expenses. If Borrower fails to pay any amounts or furnish any required proof of payment due to third persons or entities, as
required under the terms of this Agreement, then Bank may do any or all of the following after reasonable notice to Borrower: (a) make payment of the same or any part thereof; (b) set up such reserves under the Term Loan as Bank deems
necessary to protect Bank from the exposure created by such failure; or (c) obtain and maintain insurance policies of the type discussed in Section 6.5 of this Agreement, and take any action with respect to such policies as Bank deems
prudent. Any amounts so paid or deposited by Bank shall constitute Bank Expenses, shall be immediately due and payable, and shall bear interest at the then applicable rate hereinabove provided, and shall be secured by the Collateral. Any payments
made by Bank shall not constitute an agreement by Bank to make similar payments in the future or a waiver by Bank of any Event of Default under this Agreement. 

9.5 Bank’s Liability for Collateral. Bank has no obligation to clean up or otherwise prepare the Collateral for sale. All risk of
loss, damage or destruction of the Collateral shall be borne by Borrower. 
 9.6 No Obligation to Pursue Others. Bank has no
obligation to attempt to satisfy the Obligations by collecting them from any other person liable for them and Bank may release, modify or waive any collateral provided by any other Person to secure any of the Obligations, all without affecting
Bank’s rights against Borrower. Borrower waives any right it may have to require Bank to pursue any other Person for any of the Obligations. 

9.7 Remedies Cumulative. Bank’s rights and remedies under this Agreement, the Loan Documents, and all other agreements shall be
cumulative. Bank shall have all other rights and remedies not inconsistent herewith as provided under the Code, the PPSA, by law, or in equity. No exercise by Bank of one right or remedy shall be deemed an election, and no waiver by Bank of any
Event of Default on Borrower’s part shall be deemed a continuing waiver. No delay by Bank shall constitute a waiver, election, or acquiescence by it. No waiver by Bank shall be effective unless made in a written document signed on behalf of
Bank and then shall be effective only in the specific instance and for the specific purpose for which it was given. Borrower expressly agrees that this Section 9.7 may not be waived or modified by Bank by course of performance, conduct,
estoppel or otherwise. 

  
 17 

 9.8 Demand; Protest. Except as otherwise provided in this Agreement, Borrower waives
demand, protest, notice of protest, notice of default or dishonor, notice of payment and nonpayment and any other notices relating to the Obligations. 

10. NOTICES. 
 Unless otherwise provided
in this Agreement, all notices or demands by any party relating to this Agreement or any other agreement entered into in connection herewith shall be in writing and (except for financial statements and other informational documents which may be sent
by first-class mail, postage prepaid) shall be personally delivered or sent by a recognized overnight delivery service, certified mail, postage prepaid, return receipt requested, or by telefacsimile to Borrower or to Bank, as the case may be, at its
addresses set forth below: 
  

			
	 If to Borrower:
	  	 Silverback Two Canada Merger Corporation 

		  	 c/o Silverback Enterprise Group, Inc.

		  	 Frost Tower, 29th Floor

		  	 401 Congress Avenue

		  	 Austin, Texas 78701

		  	 Attn: Chief Financial Officer

		  	FAX: (521) 721-1218
		
	 with a copy (which is not
	  	Wilson Sonsini Goodrich & Rosati, Professional Corporation
	 required to constitute notice
	  	650 Page Mill Road
	 hereunder) to:
	  	Palo Alto, CA 94304 
		  	Attn: Andrew J. Hirsch
		  	Fax: (650) 493-6811
		
	 If to Bank:
	  	 Comerica Bank 

		  	 M/C 7578

		  	 39200 Six Mile Rd.

		  	 Livonia, MI 48152

		  	 Attn: National Documentation Services

		
	 with a copy to:
	  	 Comerica Bank 

		  	300 W. Sixth St.
		  	 Suite 1300

		  	 Austin, TX 78701

		  	 Attn: Megan Kirk

		  	 FAX: (512) 427-7178

 The parties hereto may change the address at which they are to receive notices hereunder, by notice in writing
in the foregoing manner given to the other. 
 11. CHOICE OF LAW AND VENUE; JURY TRIAL WAIVER. 

This Agreement shall be governed by, and construed in accordance with, the internal laws of the State of California, without regard to
principles of conflicts of law. Each of Borrower and Bank hereby submits to the exclusive jurisdiction of the State and Federal courts located in the State of California. THE UNDERSIGNED ACKNOWLEDGE THAT THE RIGHT TO TRIAL BY JURY IS A
CONSTITUTIONAL ONE, BUT THAT IT MAY BE WAIVED UNDER CERTAIN CIRCUMSTANCES. TO THE EXTENT PERMITTED BY LAW, EACH PARTY, AFTER CONSULTING (OR HAVING HAD THE OPPORTUNITY TO CONSULT) WITH COUNSEL OF ITS, HIS OR HER CHOICE, KNOWINGLY AND VOLUNTARILY, AND
FOR THE MUTUAL BENEFIT OF ALL PARTIES, WAIVES ANY RIGHT TO TRIAL BY JURY IN THE EVENT OF LITIGATION ARISING OUT OF OR RELATED TO THIS AGREEMENT OR ANY OTHER DOCUMENT, INSTRUMENT OR AGREEMENT BETWEEN THE UNDERSIGNED PARTIES. 

  
 18 

 12. REFERENCE PROVISION. 

12.1 In the event the Jury Trial Waiver set forth above is not enforceable, the parties elect to proceed under this Judicial Reference
Provision. 
 12.2 With the exception of the items specified in Section 12.3, below, any controversy, dispute or claim (each, a
“Claim”) between the parties arising out of or relating to this Agreement or any other document, instrument or agreement between the undersigned parties (collectively in this Section, the “Loan Documents”), will be resolved by a
reference proceeding in California in accordance with the provisions of Sections 638 et seq. of the California Code of Civil Procedure (“CCP”), or their successor sections, which shall constitute the exclusive remedy for the resolution of
any Claim, including whether the Claim is subject to the reference proceeding. Except as otherwise provided in the Loan Documents, venue for the reference proceeding will be in the Superior Court in the County where the real property involved in the
action, if any, is located or in a County where venue is otherwise appropriate under applicable law (the “Court”). 
 12.3 The
matters that shall not be subject to a reference are the following: (i) non-judicial foreclosure of any security interests in real or personal property, (ii) exercise of selfhelp remedies (including, without limitation, set-off),
(iii) appointment of a receiver and (iv) temporary, provisional or ancillary remedies (including, without limitation, writs of attachment, writs of possession, temporary restraining orders or preliminary injunctions). This Agreement does
not limit the right of any party to exercise or oppose any of the rights and remedies described in clauses (i) and (ii) or to seek or oppose from a court of competent jurisdiction any of the items described in clauses (iii) and (iv).
The exercise of, or opposition to, any of those items does not waive the right of any party to a reference pursuant to this Agreement. 

12.4 The referee shall be a retired Judge or Justice selected by mutual written agreement of the parties. If the parties do not agree within
ten (10) days of a written request to do so by any party, then, upon request of any party, the referee shall be selected by the Presiding Judge of the Court (or his or her representative). A request for appointment of a referee may be heard on
an ex parte or expedited basis, and the parties agree that irreparable harm would result if ex parte relief is not granted. 
 12.5 The
parties agree that time is of the essence in conducting the reference proceedings. Accordingly, the referee shall be requested, subject to change in the time periods specified herein for good cause shown, to (i) set the matter for a status and
trial-setting conference within fifteen (15) days after the date of selection of the referee, (ii) if practicable, try all issues of law or fact within one hundred twenty (120) days after the date of the conference and
(iii) report a statement of decision within twenty (20) days after the matter has been submitted for decision. 
 12.6 The referee
will have power to expand or limit the amount and duration of discovery. The referee may set or extend discovery deadlines or cutoffs for good cause, including a party’s failure to provide requested discovery for any reason whatsoever. Unless
otherwise ordered based upon good cause shown, no party shall be entitled to “priority” in conducting discovery, depositions may be taken by either party upon seven (7) days written notice, and all other discovery shall be responded
to within fifteen (15) days after service. All disputes relating to discovery which cannot be resolved by the parties shall be submitted to the referee whose decision shall be final and binding. 

12.7 Except as expressly set forth in this Agreement, the referee shall determine the manner in which the reference proceeding is conducted
including the time and place of hearings, the order of presentation of evidence, and all other questions that arise with respect to the course of the reference proceeding. All proceedings and hearings conducted before the referee, except for trial,
shall be conducted without a court reporter, except that when any party so requests, a court reporter will be used at any hearing conducted before the referee, and the referee will be provided a courtesy copy of the transcript. The party making such
a request shall have the obligation to arrange for and pay the court reporter. Subject to the referee’s power to award costs to the prevailing party, the parties will equally share the cost of the referee and the court reporter at trial. 

  
 19 

 12.8 The referee shall be required to determine all issues in accordance with existing case law
and the statutory laws of the State of California. The rules of evidence applicable to proceedings at law in the State of California will be applicable to the reference proceeding. The referee shall be empowered to enter equitable as well as legal
relief, enter equitable orders that will be binding on the parties and rule on any motion which would be authorized in a court proceeding, including without limitation motions for summary judgment or summary adjudication. The referee shall issue a
decision at the close of the reference proceeding which disposes of all claims of the parties that are the subject of the reference. Pursuant to CCP § 644, such decision shall be entered by the Court as a judgment or an order in the same manner
as if the action had been tried by the Court and any such decision will be final, binding and conclusive. The parties reserve the right to appeal from the final judgment or order or from any appealable decision or order entered by the referee. The
parties reserve the right to findings of fact, conclusions of laws, a written statement of decision, and the right to move for a new trial or a different judgment, which new trial, if granted, is also to be a reference proceeding under this
provision. 
 12.9 If the enabling legislation which provides for appointment of a referee is repealed (and no successor statute is
enacted), any dispute between the parties that would otherwise be determined by reference procedure will be resolved and determined by arbitration. The arbitration will be conducted by a retired judge or Justice, in accordance with the California
Arbitration Act §1280 through §1294.2 of the CCP as amended from time to time. The limitations with respect to discovery set forth above shall apply to any such arbitration proceeding. 

12.10 THE PARTIES RECOGNIZE AND AGREE THAT ALL CONTROVERSIES, DISPUTES AND CLAIMS RESOLVED UNDER THIS REFERENCE PROVISION WILL BE DECIDED BY A
REFEREE AND NOT BY A JURY. AFTER CONSULTING (OR HAVING HAD THE OPPORTUNITY TO CONSULT) WITH COUNSEL OF ITS, HIS OR HER OWN CHOICE, EACH PARTY KNOWINGLY AND VOLUNTARILY, AND FOR THE MUTUAL BENEFIT OF ALL PARTIES, AGREES THAT THIS REFERENCE PROVISION
WILL APPLY TO ANY CONTROVERSY, DISPUTE OR CLAIM BETWEEN OR AMONG THEM ARISING OUT OF OR IN ANY WAY RELATED TO, THIS AGREEMENT OR THE OTHER LOAN DOCUMENTS. 

13. GENERAL PROVISIONS. 
 13.1
Successors and Assigns. This Agreement shall bind and inure to the benefit of the respective successors and permitted assigns of each of the parties and shall bind all persons who become bound as a debtor to this Agreement; provided, however,
that neither this Agreement nor any rights hereunder may be assigned by Borrower without Bank’s prior written consent, which consent may be granted or withheld in Bank’s sole discretion. Bank shall have the right without the consent of or
notice to Borrower to sell, transfer, negotiate, or grant participation in all or any part of, or any interest in, Bank’s obligations, rights and benefits hereunder. 

13.2 Indemnification. Borrower shall defend, indemnify and hold harmless Bank and its officers, employees, and agents (each, an
“Indemnified Person”) against: (a) all obligations, demands, claims, and liabilities claimed or asserted by any other party in connection with the transactions contemplated by this Agreement and/or the Loan Documents; and (b) all
losses or Bank Expenses in any way suffered, incurred, or paid by Bank, its officers, employees and agents as a result of or in any way arising out of, following, or consequential to transactions between Bank and Borrower whether under this
Agreement, or otherwise (including without limitation reasonable attorneys fees and expenses), except for losses caused by an Indemnified Person’s gross negligence or willful misconduct. 

13.3 Time of Essence. Time is of the essence for the performance of all obligations set forth in this Agreement. 

13.4 Severability of Provisions. Each provision of this Agreement shall be severable from every other provision of this Agreement for
the purpose of determining the legal enforceability of any specific provision. 
 13.5 Correction of Loan Documents. Bank may correct
patent errors and fill in any blanks in this Agreement and the other Loan Documents consistent with the agreement of the parties. 

  
 20 

 13.6 Amendments in Writing, Integration. All amendments to or terminations of this
Agreement or the other Loan Documents must be in writing signed by the parties. All prior agreements, understandings, representations, warranties, and negotiations between the parties hereto with respect to the subject matter of this Agreement and
the other Loan Documents, if any, are merged into this Agreement and the Loan Documents. 
 13.7 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, shall be deemed to be an original, and all of which, when taken together, shall constitute but one and the same
Agreement. 
 13.8 Survival. All covenants, representations and warranties made in this Agreement shall continue in full force and
effect so long as any Obligations (other than inchoate indemnity obligations) remain outstanding or Bank has any obligation to make any Credit Extension to Borrower. The obligations of Borrower to indemnify Bank with respect to the expenses,
damages, losses, costs and liabilities described in Section 13.2 shall survive until all applicable statute of limitations periods with respect to actions that may be brought against Bank have run. 

13.9 Confidentiality. In handling any confidential information, Bank and all employees and agents of Bank shall exercise the same
degree of care that Bank exercises with respect to its own proprietary information of the same types to maintain the confidentiality of any non-public information thereby received or received pursuant to this Agreement except that disclosure of such
information may be made (i) to the subsidiaries or Affiliates of Bank in connection with their present or prospective business relations with Borrower, (ii) to prospective transferees or purchasers of any interest in the Loans,
(iii) as required by law, regulations, rule or order, subpoena, judicial order or similar order, (iv) as may be required in connection with the examination, audit or similar investigation of Bank, (v) to Bank’s accountants,
auditors and regulators, and (vi) as Bank may determine in connection with the enforcement of any remedies hereunder. Confidential information hereunder shall not include information that either: (a) is in the public domain or in the
knowledge or possession of Bank when disclosed to Bank, or becomes part of the public domain after disclosure to Bank through no fault of Bank; or (b) is disclosed to Bank by a third party, provided Bank does not have actual knowledge that such
third party is prohibited from disclosing such information. 
 14. AMALGAMATION. Within one (1) Business Day after the Closing Date, Borrower
will amalgamate with TENROX Canada, with TENROX Canada as the resulting amalgamated entity (the “Amalgamation”). Upon the completion of the Amalgamation, TENROX Canada will be the “Borrower” under this Agreement and all other
Loan Documents as if an original signatory and all references in this Agreement and the other Loan Documents to “Silverback Two Canada Merger Corporation” shall refer to “TENROX Inc.”, the amalgamated entity. The failure of the
Amalgamation to occur within one (1) Business Day after the Closing Date shall constitute an Event of Default. 
 [Remainder of Page
Intentionally Left Blank] 

  
 21 

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

			
	 SILVERBACK TWO CANADA MERGER
CORPORATION

		
	By:	 	      

			
		
	Name:	 	  

 
			
		
	 Title:
	 	  

  

			
	COMERICA BANK
		
	By:	 	      

			
		
	Name:	 	      

			
		
	 Title:
	 	      

  
 22 

 EXHIBIT A 

DEFINITIONS 
 “Accounts” means all presently existing
and hereafter arising accounts, contract rights, payment intangibles and all other forms of obligations owing to Borrower arising out of the sale or lease of goods (including, without limitation, the licensing of software and other technology) or
the rendering of services by Borrower and any and all credit insurance, guaranties, and other security therefor, as well as all merchandise returned to or reclaimed by Borrower and Borrower’s Books relating to any of the foregoing. 

“Acquisition” shall mean the acquisition by Borrower of all of the issued and outstanding shares of capital stock of TENROX Canada from Sellers
pursuant to the Acquisition Documents. 
 “Acquisition Documents” shall mean the Stock Purchase Agreement and any other related documents or
agreements to which a Borrower is party arising from or entered into pursuant to the terms of the Stock Purchase Agreement, in each case as amended as permitted hereunder from time to time, excluding, for the avoidance of doubt, the Loan Documents.

 “Affiliate” means, with respect to any Person, any Person that owns or controls directly or indirectly such Person, any Person that controls or
is controlled by or is under common control with such Person, and each of such Person’s senior executive officers, directors, and partners. 

“Bank Expenses” means all reasonable costs or expenses (including reasonable attorneys’ fees and expenses, whether generated in-house or by
outside counsel) incurred in connection with the preparation, negotiation, administration, and enforcement of the Loan Documents; reasonable Collateral audit fees; and Bank’s reasonable attorneys’ fees and expenses (whether generated
in-house or by outside counsel) incurred in amending, enforcing or defending the Loan Documents (including fees and expenses of appeal), incurred before, during and after an Insolvency Proceeding, whether or not suit is brought. 

“Borrower Location” means Canada, the jurisdiction under whose laws Borrower is organized. 

“Borrower’s Books” means all of Borrower’s books and records including: ledgers; records concerning Borrower’s assets or liabilities,
the Collateral, business operations or financial condition; and all computer programs, or tape files, and the equipment, containing such information. 

“Business Day” means any day that is not a Saturday, Sunday, or other day on which banks in the State of California are authorized or required to
close. 
 “Canadian Benefit Plans” means all material employee benefit plans or arrangements maintained or contributed to by Borrower that are not
Canadian Pension Plans, including all profit sharing, savings, supplemental retirement, retiring allowance, severance, pension, deferred compensation, welfare, bonus, incentive compensation, phantom stock, legal services, supplementary unemployment
benefit plans or arrangements and all life, health, dental and disability plans and arrangements in which the employees or former employees of Borrower participate or are eligible to participate but excluding all stock option or stock purchase
plans. 
 “Canadian Pension Plans” means all plans or arrangements that are considered to be pension plans for the purposes of any applicable
pension benefits standards statute or regulation in Canada established, maintained or contributed to by Borrower for its employees or former employees. 

“Canadian Security Agreement” means the movable hypothec dated as of February 1, 2012, executed by Borrower in favor of Bank, as amended,
varied, supplemented, restated, renewed or replaced at any time from time to time. 
 “Cash” means unrestricted cash and cash equivalents. 

  

Exhibit A – Page 1 

 “Change in Control” shall mean a transaction in which any “person” or “group”
(within the meaning of Section 13(d) and 14(d)(2) of the Securities Exchange Act of 1934) becomes the “beneficial owner” (as defined in Rule 13d- 3 under the Securities Exchange Act of 1934), directly or indirectly, of a sufficient
number of shares of all classes of stock then outstanding of Borrower ordinarily entitled to vote in the election of directors, empowering such “person” or “group” to elect a majority of the Board of Directors of Borrower, who
did not have such power before such transaction. 
 “Chief Executive Office Location” means Quebec, Canada, where Borrower’s chief executive
office is located. 
 “Closing Date” means the date of this Agreement. 

“Code” means the California Uniform Commercial Code as amended or supplemented from time to time. 

“Collateral” means the property described on Exhibit B attached hereto and all Negotiable Collateral and Intellectual Property Collateral to
the extent not described on Exhibit B, except to the extent any such property (i) is nonassignable by its terms without the consent of the licensor thereof or another party (but only to the extent such prohibition on transfer is
enforceable under applicable law, including, without limitation, Sections 9406 and 9408 of the Code), (ii) is property where the granting of a security interest therein is contrary to applicable law, provided that upon the cessation of any such
restriction or prohibition, such property shall automatically become part of the Collateral, (iii) any intent-to-use trademarks at all times prior to the first use thereof, whether by the actual use thereof in commerce, the recording of a
statement of use with the United States Patent and Trademark Office or otherwise, but only to the extent the granting of a security interest in such intent-to-use trademark would be contrary to applicable law, (iv) is subject to a lien in favor
of Dell Financial Services Canada Limited under Commercial Lease (200-0271342-020) or Commercial Lease (200-0271342-021), provided that upon the payment in full of property purchased under such agreements, such property shall automatically be part
of the Collateral or (v) is Borrower’s equity interests of TENROX Australia. 
 “Collateral Locations” means the province where the
Collateral is located, which is Quebec, Canada. 
 “Consolidated Net Income (or Deficit)” means the consolidated net income (or deficit) of any
Person and its Subsidiaries, after deduction of all expenses, taxes, and other proper charges, determined in accordance with GAAP, after eliminating therefrom all extraordinary nonrecurring items of income. 

“Consolidated Total Interest Expense” means with respect to any Person for any period, the aggregate amount of interest required to be paid or
accrued by a Person and its Subsidiaries during such period on all Indebtedness of such Person and its Subsidiaries outstanding during all or any part of such period, whether such interest was or is required to be reflected as an item of expense or
capitalized, including payments consisting of interest in respect of any capitalized lease or any synthetic lease, and including commitment fees, agency fees, facility fees, balance deficiency fees and similar fees or expenses in connection with the
borrowing of money. 
 “Contingent Obligation” means, as applied to any Person, any direct or indirect liability, contingent or otherwise, of that
Person with respect to (i) any indebtedness, lease, dividend, letter of credit or other obligation of another, including, without limitation, any such obligation directly or indirectly guaranteed, endorsed, co-made or discounted or sold with
recourse by that Person, or in respect of which that Person is otherwise directly or indirectly liable; (ii) any obligations with respect to undrawn letters of credit, corporate credit cards or merchant services issued for the account of that
Person; and (iii) all obligations arising under any interest rate, currency or commodity swap agreement, interest rate cap agreement, interest rate collar agreement, or other agreement or arrangement designated to protect a Person against
fluctuation in interest rates, currency exchange rates or commodity prices; provided, however, that the term “Contingent Obligation” shall not include endorsements for collection or deposit in the ordinary course of business. The amount of
any Contingent Obligation shall be deemed to be an amount equal to the stated or determined amount of the primary obligation in respect of which such Contingent Obligation is made or, if not stated or determinable, the maximum reasonably anticipated
liability in respect thereof as determined by such Person in good faith; provided, however, that such amount shall not in any event exceed the maximum amount of the obligations under the guarantee or other support arrangement. 

  

Exhibit A – Page 2 

 “Copyrights” means 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, now or hereafter existing, created, acquired or held. 

“Credit Extension” means each Term Loan Advance or any other extension of credit by Bank to or for the benefit of Borrower hereunder. 

“EBITDA” means with respect to any fiscal period an amount equal to the sum of (a) Consolidated Net Income of the Borrower and its Subsidiaries
for such fiscal period, plus (b) in each case to the extent deducted in the calculation of the Borrower’s Consolidated Net Income and without duplication, (i) depreciation and amortization for such period, plus
(ii) income tax expense for such period, plus (iii) Consolidated Total Interest Expense paid or accrued during such period, plus (iv) non-cash expense, including without limit those expenses associated with granting
stock options, plus (v) restructuring expenses incurred by Borrower within nine (9) months after the Closing Date in an aggregate amount not exceeding Eight Hundred Thousand Dollars ($800,000), plus (vi) deferred revenue
of an acquired company that, due to the business combination, is not recognized as revenue of the acquiring company under GAAP and minus, to the extent added in computing Consolidated Net Income, and without duplication, non-cash tax credits
of Borrower and its Subsidiaries for such period, all as determined in accordance with GAAP other than with respect to clause (v) above. 

“Environmental Laws” means all laws, rules, regulations, orders and the like issued by any federal state, local foreign or other governmental or
quasi-governmental authority or any agency pertaining to the environment or to any hazardous materials or wastes, toxic substances, flammable, explosive or radioactive materials, asbestos or other similar materials. 

“Equipment” means all present and future machinery, equipment, tenant improvements, furniture, fixtures, vehicles, tools, parts and attachments in
which Borrower has any interest. 
 “ERISA” means the Employee Retirement Income Security Act of 1974, as amended, and the regulations thereunder.

 “Event of Default” has the meaning assigned in Article 8. 

“GAAP” means generally accepted accounting principles, consistently applied, as in effect from time to time. 

“Guarantors” means, collectively, Silverback Enterprise, TENROX US, Visionael Corporation and PowerSteering, and “Guarantor” shall mean
each individually. 
 “Indebtedness” means (a) all indebtedness for borrowed money or the deferred purchase price of property or services,
including without limitation reimbursement and other obligations with respect to surety bonds and letters of credit, (b) all obligations evidenced by notes, bonds, debentures or similar instruments, (c) all capital lease obligations and
(d) all Contingent Obligations. 
 “Insolvency Proceeding” means any proceeding commenced by or against any Person or entity under any
provision of the United States Bankruptcy Code, as amended, or under any other bankruptcy or insolvency law, including assignments for the benefit of creditors, formal or informal moratoria, compositions, extension generally with its creditors, or
proceedings seeking reorganization, arrangement, or other relief. 
 “Intellectual Property Collateral” means all of Borrower’s right, title,
and interest in and to the following: 
 (a) Copyrights, Trademarks and Patents; 

(b) Any and all trade secrets, and any and all intellectual property rights in computer software and computer software products now or
hereafter existing, created, acquired or held; 

  

Exhibit A – Page 3 

 (c) Any and all design rights which may be available to Borrower now or hereafter existing,
created, acquired or held; 
 (d) Any and all claims for damages by way of past, present and future infringement of any of the rights
included above, 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; 

(e) All licenses or other rights to use any of the Copyrights, Patents or Trademarks, and all license fees and royalties arising from such use
to the extent permitted by such license or rights; 
 (f) All amendments, renewals and extensions of any of the Copyrights, Trademarks or
Patents; and 
 (g) All proceeds and products of the foregoing, including without limitation all payments under insurance or any indemnity or
warranty payable in respect of any of the foregoing. 
 “Interest Rate Addendum” has the meaning assigned in Section 2.3(a). 

“Inventory” means all present and future inventory in which Borrower has any interest. 

“Investment” means any beneficial ownership of (including stock, partnership or limited liability company interest or other securities) any Person,
or any loan, advance or capital contribution to any Person. 
 “IRC” means the Internal Revenue Code of 1986, as amended, and the regulations
thereunder. 
 “Lien” means any mortgage, lien, deed of trust, charge, pledge, security interest or other encumbrance. 

“Loan Documents” means, collectively, this Agreement, any note or notes executed by Borrower, and any other document, instrument or agreement
entered into in connection with this Agreement, all as amended or extended from time to time. 
 “Material Adverse Effect” means (i) a
material adverse change in Borrower’s business or financial condition (including without limitation, evidence of a lack of investor support and/or Borrower’s inability to attract sufficient additional equity financing from its investors),
or (ii) a material impairment in the prospect of repayment of all or any portion of the Obligations or in otherwise performing Borrower’s obligations under the Loan Documents, (iii) a material impairment in the perfection, value or
priority of Bank’s security interests in the Collateral. 
 “Negotiable Collateral” means all of Borrower’s present and future letters
of credit of which it is a beneficiary, drafts, instruments (including promissory notes), securities, documents of title, and chattel paper, and Borrower’s Books relating to any of the foregoing. 

“Obligations” means all debt, principal, interest, Bank Expenses and other amounts owed to Bank by Borrower pursuant to this Agreement or any other
agreement, whether absolute or contingent, due or to become due, now existing or hereafter arising, including any interest that accrues after the commencement of an Insolvency Proceeding and including any debt, liability, or obligation owing from
Borrower to others that Bank may have obtained by assignment or otherwise. Notwithstanding the foregoing, the term “Obligations” shall not include any of Borrower’s obligations under any warrants issued to Bank. 

“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. 
 “Periodic Payments” means all installments or similar recurring payments that
Borrower may now or hereafter become obligated to pay to Bank pursuant to the terms and provisions of any instrument, or agreement now or hereafter in existence between Borrower and Bank. 

  

Exhibit A – Page 4 

 “Permitted Indebtedness” means: 

(a) Indebtedness of Borrower in favor of Bank arising under this Agreement or any other Loan Document; 

(b) Indebtedness existing on the Closing Date and disclosed in the Schedule; 

(c) Indebtedness not to exceed One Hundred Thousand Dollars ($100,000) in the aggregate in any fiscal year of Borrower secured by a lien
described in clause (c) of the defined term “Permitted Liens,” provided such Indebtedness does not exceed the lesser of the cost or fair market value of the equipment financed with such Indebtedness; 

(d) Subordinated Debt (including without limit Subordinated Debt of Borrower in favor of Silverback Enterprise); 

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

(f) Indebtedness of Borrower or its Subsidiaries permitted under clauses (d) or (e) of the defined term “Permitted Investments”;

 (g) Indebtedness consisting of the endorsement of negotiable instruments for deposit or collection or similar transactions in the ordinary
course of business; 
 (h) Indebtedness incurred in connection with corporate credit cards; provided that the aggregate limit of all such
cards does not exceed Fifty Thousand Dollars ($50,000) at any time; 
 (i) Extensions, refinancings and renewals of any items of Permitted
Indebtedness, provided that the principal amount is not increased or the terms modified to impose more burdensome terms upon Borrower or its Subsidiary, as the case may be. 

“Permitted Investment” means: 
 (a)
Investments existing on the Closing Date disclosed in the Schedule; 
 (b) (i) Marketable direct obligations issued or unconditionally
guaranteed by the United States of America or any agency or any State thereof maturing within one (1) year from the date of acquisition thereof, (ii) commercial paper maturing no more than one (1) year from the date of creation
thereof and currently having rating of at least A-2 or P-2 from either Standard & Poor’s Corporation or Moody’s Investors Service, (iii) Bank’s or Bank’s Affiliates certificates of deposit maturing no more than one
(1) year from the date of investment therein, and (iv) Bank’s or Bank’s Affiliates money market accounts; 
 (c)
Investments accepted in connection with Permitted Transfers; 
 (d) Investments of Borrower and/or its Subsidiaries in or to Guarantors that
are also borrowers of Bank; 
 (e) Investments of Borrower and/or its Subsidiaries in or to Subsidiaries that are not both Guarantors and
borrowers of Bank, not to exceed One Hundred Thousand Dollars ($100,000) in the aggregate in any fiscal year; 
 (f) Investments (other than
Investments consisting of loans) of Subsidiaries in Borrower; 
 (g) Investments not to exceed One Hundred Thousand Dollars ($100,000) in the
aggregate in any fiscal year 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 plan agreements approved by Borrower’s Board of Directors; 

  

Exhibit A – Page 5 

 (h) 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 Borrower’s business; 

(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 subparagraph (h) shall not apply to Investments of Borrower in any Subsidiary; 

(j) Joint ventures or strategic alliances in the ordinary course of Borrower’s business consisting of the non-exclusive licensing of
technology, the development of technology or the providing of technical support, provided that any cash Investments by Borrower do not exceed One Hundred Thousand Dollars ($100,000) in the aggregate in any fiscal year; 

(k) Investments permitted by Section 7.3 hereof; and 

(l) Other Investments in an aggregate amount not to exceed One Hundred Thousand Dollars ($100,000). 

“Permitted Liens” means the following: 

(a) Any Liens existing on the Closing Date and disclosed in the Schedule (excluding Liens to be satisfied with the proceeds of the Advances) or
arising under this Agreement or the other Loan Documents; 
 (b) Liens for taxes, fees, assessments or other governmental charges or levies,
either not delinquent or being contested in good faith by appropriate proceedings and for which Borrower maintains adequate reserves, provided the same have no priority over any of Bank’s security interests; 

(c) Liens securing obligations not to exceed One Hundred Thousand Dollars ($100,000) in the aggregate (i) upon or in any Equipment (other
than Equipment financed by a Credit Extension) acquired or held by Borrower or any of its Subsidiaries to secure the purchase price of such Equipment or indebtedness incurred solely for the purpose of financing the acquisition or lease of such
Equipment, or (ii) existing on such Equipment at the time of its acquisition, provided that the Lien is confined solely to the property so acquired and improvements thereon, and the proceeds of such Equipment; 

(d) Liens incurred in connection with the extension, renewal or refinancing of the indebtedness secured by Liens of the type described in
clauses (a) through (c) above, provided that any extension, renewal or replacement Lien shall be limited to the property encumbered by the existing Lien and the principal amount of the indebtedness being extended, renewed or refinanced
does not increase; 
 (e) Liens arising from judgments, decrees or attachments in circumstances not constituting an Event of Default under
Sections 8.5 (attachment) or 8.9 (judgments); 
 (f) Until Borrower’s and the Guarantors’ accounts are opened at Bank in accordance
with Section 6.6, Liens in favor of other financial institutions arising in connection with Borrower’s deposit accounts held at such institutions to secure standard fees for deposit services charged by, but not financing made available by
such institutions; 
 (g) Statutory and common law rights of set-off and other similar rights in connection with Borrower’s accounts
held at Bank’s Affiliates to secure standard fees for services charged by such institutions; 
 (h) carriers, warehousemen’s,
mechanics’, materialmen’s, repairmen’s or other like Liens arising in the ordinary course of business which are not overdue for a period of more than 30 days or which are being contested in good faith and by appropriate proceedings if
adequate reserves with respect thereto are maintained on the books of the applicable Person; 

  

Exhibit A – Page 6 

 (i) deposits to secure the performance of bids, trade contracts (other than for borrowed money),
contracts for the purchase of property, leases, statutory obligations, surety and appeal bonds, performance bonds and other obligations of a like nature, in each case, incurred in the ordinary course of business and not representing an obligations
for borrowed money; 
 (j) Liens on insurance proceeds securing the payment of financed insurance premiums; and 

(k) Liens in favor of customs and revenue authorities arising as a matter of law to secure payments of custom duties in connection with the
importation of goods. 
 “Permitted Transfer” means the conveyance, sale, lease, license, transfer or disposition by Borrower or any Subsidiary of:

 (a) Inventory in the ordinary course of business; 

(b) Non-exclusive licenses and similar arrangements for the use of the property of Borrower or its Subsidiaries in the ordinary course of
business; 
 (c) Transfers from any Subsidiary that constitute a Permitted Investment or Permitted Lien; 

(d) Worn-out or obsolete Equipment not financed with the proceeds of a Credit Extension; or 

(e) Other assets of Borrower or its Subsidiaries that do not in the aggregate exceed One Hundred Thousand Dollars ($100,000) during any fiscal
year. 
 “Person” means any individual, sole proprietorship, partnership, limited liability company, joint venture, trust, unincorporated
organization, association, corporation, institution, public benefit corporation, firm, joint stock company, estate, entity or governmental agency. 

“PowerSteering” means PowerSteering Software, Inc., a Delaware corporation. 

“PPSA” shall mean the Personal Property Security Act (Ontario) and the Regulations thereunder, as from time to time in effect, provided, however, if
attachment, perfection or priority of Bank’s security interests in any Collateral are governed by the personal property security laws of any jurisdiction other than Ontario, PPSA shall mean those personal property security laws in such other
jurisdiction for the purposes of the provisions hereof relating to such attachment, perfection or priority and for the definitions related to such provisions. 

“Prime Rate” means the variable rate of interest, per annum, most recently announced by Bank, as its “prime rate,” whether or not such
announced rate is the lowest rate available from Bank. 
 “Prohibited Territory” means any person or country listed by the Office of Foreign
Assets Control of the United States Department of Treasury as to which transactions between a United States Person and that territory are prohibited. 

“Responsible Officer” means each of the Chief Executive Officer, the Chief Operating Officer, the Chief Financial Officer and the Controller of
Borrower. 
 “Schedule” means the schedule of exceptions attached hereto and approved by Bank, if any. 

  

Exhibit A – Page 7 

 “Sellers” means, collectively, NOVACAP II, L.P., Rudolf Melik Holding (6991947 Canada Inc.), Rudolf
Melik Family Trust, Rudolf Melik, Ludwig Melik Holding (6991963 Canada Inc.), Ludwig Melik Family Trust, Ludwig Melik, Aramazd Israilian, Aramazd Israilian Family Trust, Kohar Terzian, Edwin Badalian, Edwin Badalian Family Trust, Edna Badalian,
Rafat Hilal, Rafat Hilal Family Trust, Mouni Hilal, Zaven Laleyan, Knar Najarian and Harmig Amedjian. 
 “Silverback Enterprise” means Silverback
Enterprise Group, Inc., a Delaware corporation. 
 “Stock Purchase Agreement” means the Stock Purchase Agreement dated as of February
    , 2012 among Borrower, Silverback Enterprise, the Sellers and TENROX Canada, as amended or modified from time to time in accordance with the terms of this Agreement. 

“Subordinated Debt” means any debt incurred by Borrower that is subordinated in writing to the debt owing by Borrower to Bank on terms reasonably
acceptable to Bank (and identified as being such by Borrower and Bank). 
 “Subsidiary” means any corporation, partnership or limited liability
company or joint venture in which (i) any general partnership interest or (ii) more than 50% of the stock, limited liability company interest or joint venture of which by the terms thereof ordinary voting power to elect the Board of
Directors, managers or trustees of the entity, at the time as of which any determination is being made, is owned by Borrower, either directly or through an Affiliate. 

“TENROX Australia” means TENROX Australasia Pty Ltd, an Australian proprietary company limited by shares. 

“TENROX Canada” means TENROX Inc., a Canadian corporation. 

“TENROX UK” means TENROX Ltd, a company formed under the laws of England and Wales. 

“TENROX US” means TENROX Inc., a Delaware corporation. 

“Term Loan Advance(s)” means a cash advance or cash advances under the Term Loan. 

“Term Loan” means a Credit Extension of up to Six Million Dollars ($6,000,000). 

“Term Loan Maturity Date” means August     , 2015. 

“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. 
 “Visionael Corporation”
means Visionael Corporation, a Delaware corporation. 

  

Exhibit A – Page 8 

			
	DEBTOR:	  	SILVERBACK TWO CANADA MERGER CORPORATION
	SECURED PARTY:	  	COMERICA BANK

 EXHIBIT B 

COLLATERAL DESCRIPTION ATTACHMENT TO LOAN AND SECURITY AGREEMENT 

All personal property of Borrower (herein referred to as “Borrower” or “Debtor”) whether presently existing or hereafter created or
acquired, and wherever located, including, but not limited to: 
  

	(a)	all accounts (including health-care-insurance receivables), chattel paper (including tangible and electronic chattel paper), deposit accounts, documents (including negotiable documents), equipment (including all
accessions and additions thereto), general intangibles (including payment intangibles and software), goods (including fixtures), instruments (including promissory notes), inventory (including all goods held for sale or lease or to be furnished under
a contract of service, and including returns and repossessions), investment property (including securities and securities entitlements), letter of credit rights, money, and all of Debtor’s books and records with respect to any of the foregoing,
and the computers and equipment containing said books and records; 

  

	(b)	all common law and statutory copyrights and copyright registrations, applications for registration, now existing or hereafter arising, in the United States of America or in any foreign jurisdiction, obtained or to be
obtained on or in connection with any of the foregoing, or any parts thereof or any underlying or component elements of any of the foregoing, together with the right to copyright and all rights to renew or extend such copyrights and the right (but
not the obligation) of Secured Party to sue in its own name and/or in the name of the Debtor for past, present and future infringements of copyright; 

  

	(c)	all trademarks, service marks, trade names and service names and the goodwill associated therewith, together with the right to trademark and all rights to renew or extend such trademarks and the right (but not the
obligation) of Secured Party to sue in its own name and/or in the name of the Debtor for past, present and future infringements of trademark; 

  

	(d)	all (i) patents and patent applications filed in the United States Patent and Trademark Office or any similar office of any foreign jurisdiction, and interests under patent license agreements, including, without
limitation, the inventions and improvements described and claimed therein, (ii) licenses pertaining to any patent whether Debtor is licensor or licensee, (iii) income, royalties, damages, payments, accounts and accounts receivable now or
hereafter due and/or payable under and with respect thereto, including, without limitation, damages and payments for past, present or future infringements thereof, (iv) right (but not the obligation) to sue in the name of Debtor and/or in the name
of Secured Party for past, present and future infringements thereof, (v) rights corresponding thereto throughout the world in all jurisdictions in which such patents have been issued or applied for, and (vi) reissues, divisions,
continuations, renewals, extensions and continuations-in-part with respect to any of the foregoing; and 

  

	(e)	any and all cash proceeds and/or noncash proceeds of any of the foregoing, including, without limitation, insurance proceeds, and all supporting obligations and the security therefor or for any right to payment. All
terms above have the meanings given to them in the California Uniform Commercial Code, as amended or supplemented from time to time. 

Notwithstanding the foregoing, the Collateral shall not include (i) any property that is nonassignable by its terms without the consent of the licensor
thereof or another party (but only to the extent such prohibition on transfer is enforceable under applicable law, including, without limitation, Section 9406 and 9408 of the Code), (ii) any property where the granting of a security
interest therein is contrary to applicable law, provided that upon the cessation of any such restriction or prohibition, such property shall automatically become part of the Collateral, (iii) any intent-to-use trademarks at all times prior to
the first use thereof, whether by the actual use thereof in commerce, the recording of a statement of use with the United States Patent and Trademark Office or other wise, but only to the extent the granting of a security interest in such
intent-to-use trademark would be contrary to applicable law, (iv) is subject to a lien in favor of Dell Financial Services Canada Limited under Commercial Lease (200-0271342-020) or Commercial Lease
(200-0271342-021), provided that upon the payment in full of property purchased under such agreements, such property shall automatically be part of the Collateral or (v) Borrower’s equity interests
of TENROX Australia. 

  

Exhibit B – Page 1 

 EXHIBIT C 

TECHNOLOGY & LIFE SCIENCES DIVISION 

LOAN ANALYSIS 
 LOAN
ADVANCE/PAYDOWN REQUEST FORM 
 DEADLINE FOR SAME DAY PROCESSING IS 3:00* P.M, C.S.T 

DEADLINE FOR WIRE TRANSFERS IS 1.30 P.M, C.S.T 

*At month end and the day before a holiday, the cut off time is 1:30 P.M., C.S.T 

**Subject to 3 day advance notice. 
  

									
	 TO: Loan Analysis
	  	 	DATE:                                 	  	  	 	TIME:                                 	  
	 FAX #: (512) 427-7178
	  				  			
	 EMAIL: tlstxcompliance@comerica.com
	  				  			

  

											
	 	 	 	 	 
	 FROM:
	  	 SILVERBACK TWO CANADA MERGER
	 	 	  	 TELEPHONE REQUEST (For Bank Use Only):
	 	 
	 	  	 CORPORATION
	 	 	  		  		 	 
	 	  	 Borrower’s Name
	 	 	  	 The following person is authorized to request the loan payment
transfer/loan advance on the designated account and is known to me.

	 FROM:
	  	  
	 	 	  	 
	 	  	Authorized Signer’s Name	 	 	  		  	  
	 	 
	 	  		 	 	  		  	Authorized Requester & Phone #	 	 
	 FROM:
	  	  
	 	 	  		  		 	 
	 		 			 
	 	  	Authorized Signature (Borrower)	 	 	  		  	  
	 	 
	 	  		 	 	  		  	Received by (Bank) & Phone #	 	 
	 PHONE #
	  	      
	 	 	  		  		 	 
	 		 			 
	 FROM ACCOUNT#:
	  	  
	 	 	  		  	  
	 	 
	 (please include Note number, if applicable)
	 	 	  		  	Authorized Signature (Bank)	 	 
	 		 			 
	 TO ACCOUNT#:
	  	  
	 	 	  		  		 	 
	 (please include Note number, if applicable)
	 	 	  		  		 	 
	 	 	 	  	 	  	 	 	 

  

													
	 REQUESTED TRANSACTION TYPE 
	 	 	 	REQUESTED DOLLAR AMOUNT	 	 	 	For Bank Use Only
	 			 			 
	 PRINCIPAL INCREASE* (ADVANCE) 
	 	$	 	  
	 	 	 	Date Rec’d:	  		  	 
	 PRINCIPAL PAYMENT (ONLY)
	 		 	        $                             
                                 	 	 	 	Time:	  		  	 
	 	 		 		 	 	 	 Comp. Status:
	  	YES	  	NO
	 OTHER INSTRUCTIONS:
	 		 		 	 	 	Status Date:	  		  	 
	
     
	 	 	 	Time:	  		  	 
	
     
	 	 	 	Approval:	  		  	 
	
     
	 	 	 		  		  	 
	 	 	 	 	 	 	 	 	 	  	 	  	 

 All representations and warranties of Borrower stated in the Loan and Security Agreement are true, correct and complete in all
material respects as of the date of the telephone request for an advance confirmed by this Borrowing Certificate, including without limitation the representation that Borrower has paid for and owns the equipment financed by Bank; provided, however,
that those representations and warranties expressly referring to another date shall be true, correct and complete in all material respects as of such date. 

*IS THERE A WIRE REQUEST TIED TO THIS LOAN ADVANCE? (PLEASE CIRCLE ONE)    YES    NO 

If YES, the Outgoing Wire Transfer Instructions must be completed below. 

 

													
	 OUTGOING WIRE TRANSFER INSTRUCTIONS
	 	 	 	Fed Reference Number	 	 	  	 
	Bank Transfer Number
	  
	  	 
	 	 		 		 	 	  				  	
                     
        

	 
	
The items marked with an asterisk (*) are required to be completed.

	 	 	 
	 *Beneficiary Name
	 	 	 	 	 	 	  	 	 
	 *Beneficiary Account Number
	 	 	 	 	 	 	  	 	 
	 *Beneficiary Address
	 	 	 	 	 	 	  	 	 
	 Currency Type
	 	 	 	 US DOLLARS ONLY
	 	 	  	 	 
	 *ABA Routing Number (9 Digits)
	 	 	 	 	 	 	  	 	 
	 *Receiving Institution Name
	 	 	 	 	 	 	  	 	 
	 *Receiving Institution Address
	 	 	 	 	 	 	  	 	 
	 *Wire Amount
	 	 	 	 $
	 	 	  	 	 

  

Exhibit C – Page 1 

 EXHIBIT D 

COMPLIANCE CERTIFICATE 
  

					
	Please send all Required Reporting to:	  	 Comerica Bank
 Technology & Life Sciences
Division
 Loan Analysis Department
 300 W. Sixth St., Suite
1300
 Austin, TX 78701
 Fax: (512) 427-7178

Email: tlstxcompliance@comerica.com
	  	

 FROM: SILVERBACK TWO CANADA MERGER CORPORATION 

The undersigned authorized Officer of SILVERBACK TWO CANADA MERGER CORPORATION (“Borrower”), hereby certifies that in accordance with the terms and
conditions of the Loan and Security Agreement between Borrower and Bank (the “Agreement”), (i) Borrower is in complete compliance for the period ending with all required covenants, including without limitation the ongoing registration
of intellectual property rights in accordance with Section 6.8, except as noted below and (ii) all representations and warranties of Borrower stated in the Agreement are true and correct in all material respects as of the date hereof
except as noted below; provided however, that those representations and warranties expressly referring to another date shall be true, correct and complete in all material respects as of such date. Attached herewith are the required documents
supporting the above certification (the “Supporting Documents”). The Officer further certifies the Supporting Documents are prepared in accordance with Generally Accepted Accounting Principles (GAAP) and are consistently applied form one
period to the next except as explained in an accompanying letter or footnotes and with respect to unaudited financial statements, for the absence of footnotes and subject to year-end adjustments. 

Please indicate compliance status by circling Yes/No under “Complies” or “Applicable” column, 

 

											
	 REPORTING COVENANTS
	  	 REQUIRED
	    	 COMPLIES
	 
	 Company Prepared Monthly F/S
	  	Monthly, within 30 days	    	 	YES	  	    	 	NO	  
	 Compliance Certificate
	  	Monthly, within 30 days	    	 	YES	  	    	 	NO	  
	 CPA Audited re .Silverback Enterprise Unqualified F/S
	  	Annually, within 150 days of FYE	    	 	YES	  	    	 	NO	  
	 Company Prepared re Borrower F/S
	  	Annually, within 150 days of FYE	    	 	YES	  	    	 	NO	  
	 A/R & A/P Agings
	  	Monthly, within 30 days	    	 	YES	  	    	 	NO	  
	 Annual Business Plan (incl. operating budget)
	  	Annually, by 12/31	    	 	YES	  	    	 	NO	  
	 Intellectual Property Report
	  	Quarterly within 30 days	    	 	YES	  	    	 	NO	  
	 Audit
	  	Annual	    	 	YES	  	    	 	NO	  
				
	 If Public:
	  		    				    			
	 10-Q
	  	Quarterly, within 5 days of SEC filing (50 days)	    	 	YES	  	    	 	NO	  
	 10-K
	  	Annually, within 5 days of SEC filing (95 days)	    	 	YES	  	    	 	NO	  
				
	 Total amount of Borrower’s cash and
	  	Amount: $                        	    	 	YES	  	    	 	NO	  
	 investments
	  		    				    			
	 Total amount of Borrower’s cash and investments maintained with
	  	Amount: $                        	    	 	YES	  	    	 	NO	  
	 Bank
	  		    				    			
			
	 	  	 DESCRIPTION
	    	 APPLICABLE
	 
	 Legal Action > $100,000 (Sect. 6.2(iv))
	  	Notify promptly upon notice
                                	    	 	YES	  	    	 	NO	  
	 Inventory Disputes> $100,000 (Sect. 6.3)
	  	Notify promptly upon notice
                                	    	 	YES	  	    	 	NO	  
	 Mergers & Acquisitions> $100,000 (Sect. 7.3)
	  	Notify promptly upon notice
                                	    	 	YES	  	    	 	NO	  
	 Cross default with other agreements> $250,000 (Sect. 8.7)
	  	Notify promptly upon notice
                                	    	 	YES	  	    	 	NO	  
				
	 Judgments/Settlements > $200,000 (Sect. 8.9)
	  	Notify promptly upon notice
                                	    	 	YES	  	    	 	NO	  

  

																	
	FINANCIAL COVENANTS	  	REQUIRED	  	ACTUAL	    	 COMPLIES
	 
				
	TO BE TESTED MONTHLY, UNLESS OTHERWISE NOTED	 	  	 	    	 	 	    	 	 
	 Minimum Cash – Borrower
	  	$500,000	  	$	                    	  	  		    	 	YES	  	    	 	NO	  
	 Minimum Cash – Silverback Enterprise
	  	$500,000	  	$	                    	  	  		    	 	YES	  	    	 	NO	  
	 Minimum EBITDA (tested quarterly commencing 6/30/12)
	  	See Section 6.7(c)	  	$	                    	  	  		    	 	YES	  	    	 	NO	  

  

																	
	FINANCIAL COVENANTS	  	REQUIRED	 	  	ACTUAL	 	    	 COMPLIES
	 
	 Permitted Indebtedness for equipment leases
	  	<$	100,000	  	  	$	                                   
 	  	    	 	YES	  	    	 	NO	  
	 Permitted Investments for stock repurchase
	  	<$	100,000	  	  	$	                                   
 	  	    	 	YES	  	    	 	NO	  
	 Permitted Investments for subsidiaries
	  	<$	100,000	  	  	$	                                   
 	  	    	 	YES	  	    	 	NO	  
	 Permitted Investments for employee loans
	  	<$	100,000	  	  	$	                                   
 	  	    	 	YES	  	    	 	NO	  
	 Permitted Investments for joint ventures
	  	<$	100,000	  	  	$	                                   
 	  	    	 	YES	  	    	 	NO	  
	 Permitted Liens for equipment leases
	  	<$	100,000	  	  	$	                                   
 	  	    	 	YES	  	    	 	NO	  
	 Permitted Transfers
	  	<$	100,000	  	  	$	                                   
 	  	    	 	YES	  	    	 	NO	  

 Please Enter Below Comments Regarding Violations and Exceptions to Representations and Warranties: 

  

Exhibit D – Page 1 

 The undersigned further acknowledges that at any time Borrower is not in compliance with all the terms set forth
in the Agreement, including, without limitation, the financial covenants, no credit extensions will be made. 
  

	
	 Very truly yours,

	
	  

Authorized Signer

	
	  

Name

	
	  

Title

  

Exhibit D – Page 2 

 EXHIBIT E 

INTEREST RATE ADDENDUM 

  

Exhibit E – Page 1 

 FIRST AMENDMENT TO 

LOAN AND SECURITY AGREEMENT 

This First Amendment to Loan and Security Agreement (this “Amendment”) is entered into as of May 31, 2012, between COMERICA
BANK (“Bank”) and TENROX INC., successor by amalgamation to Silverback Two Canada Merger Corporation (“Borrower”). 

RECITALS 
 Borrower and
Bank are parties to that certain Loan and Security Agreement dated as of February 10, 2012 (as it may be amended from time to time, the “Agreement”). The parties desire to amend the Agreement, in accordance with the terms of
this Amendment. 
 NOW, THEREFORE, the parties agree as follows: 

1. The “Term Loan Maturity Date” in Exhibit A to the Agreement is hereby extended from August 10, 2015 to February 10,
2016. 
 2. Section 6.6 of the Agreement is amended and restated to read in its entirety as follows: 

“6.6 Accounts. On or before May 31, 2012, Borrower and each Guarantor shall maintain all of their depository
and operating accounts with Bank and their investment accounts with Bank’s Affiliates covered by a control agreement in form and substance reasonably acceptable to Bank. For the avoidance of doubt, Bank acknowledges and agrees that a control
agreement governing Borrower’s accounts with Bank that are maintained in Canada is not required.” 
 3. The “.” at the
end of Section 8.11 is deleted and replaced with “; and”, and new Section 8.12 is added to the Agreement, to read in its entirety as follows: 

“8.12 Cross-Default. Silverback Enterprise, PowerSteering, and Visionael Corporation, or any of them, default in
the payment of any obligations for borrowed money from the Bank (whether by acceleration or otherwise), including, without limitation any obligations under that certain Loan and Security Agreement dated as of March 5, 2012, among Bank,
Silverback Enterprise, PowerSteering, and Visionael Corporation, as it may be amended, restated, replaced or supplemented from time to time, and continuance thereof beyond any applicable period of cure provided with respect thereto, or in the
observance or performance of any conditions, covenants or agreements related to or agreed to with respect to any such obligations for borrowed money from the Bank, which continues beyond any applicable period of cure.” 

4. No course of dealing on the part of Bank or its officers, nor any failure or delay in the exercise of any right by Bank, shall operate as a
waiver thereof, and any single or partial exercise of any such right shall not preclude any later exercise of any such right. Bank’s failure at any time to require strict performance by Borrower of any provision shall not affect any right of
Bank thereafter to demand strict compliance and performance. Any suspension or waiver of a right must be in writing signed by an officer of Bank. 

5. Unless otherwise defined, all initially capitalized terms in this Amendment shall be as defined in the Agreement. The Agreement, as amended
hereby, shall be and remains in full force and effect in accordance with its terms and hereby is ratified and confirmed in all respects. Except as expressly set forth herein, the execution, delivery, and performance of this Amendment shall not
operate as a waiver of, or as an amendment of, any right, power, or remedy of Bank under the Agreement, as in effect prior to the date hereof. 

 6. Borrower represents and warrants that the Representations and Warranties contained in the
Agreement are true and correct in all material respects as of the date of this Amendment (provided, however, that those representations and warranties expressly referring to another date shall be true, correct and complete in all material respects
as of such date), and that no Event of Default has occurred and is continuing. 
 7. As a condition to the effectiveness of this Amendment,
Bank shall have received, in form and substance satisfactory to Bank, the following: 
 (a) this Amendment, executed by Borrower; 

(b) Amendments to Security Agreements, executed by each of PowerSteering, Visonael Corporation, Silverback Enterprise and Tenrox US; 

(c) all reasonable Bank Expenses incurred through the date of this Amendment, which may be debited from any of Borrower’s accounts; and

 (d) such other documents, and completion of such other matters, as Bank may reasonably deem necessary or appropriate. 

8. This Amendment may be executed in two or more counterparts, each of which shall be deemed an original, but all of which together shall
constitute one instrument. 
 [Signatures on following page] 

 IN WITNESS WHEREOF, the undersigned have executed this Amendment as of the first date above
written. 
  

			
	TENROX INC., successor by amalgamation to Silverback Two Canada Merger Corporation
		
	By:	 	     /s/ John T.
McDonald

 
			
		
	Name:	 	     John T.
McDonald

 
			
		
	 Title:
	 	     President

  

			
	COMERICA BANK
		
	By:	 	     /s/ Paul
Gerling

 
			
		
	Name:	 	     Paul
Gerling

 
			
		
	 Title:
	 	     Senior Vice
President

 SECOND AMENDMENT TO 

LOAN AND SECURITY AGREEMENT 

This Second Amendment to Loan and Security Agreement (this “Amendment”) is entered into as of June 25, 2012, between
COMERICA BANK (“Bank”) and TENROX INC., successor by amalgamation to Silverback Two Canada Merger Corporation (“Borrower”). 

RECITALS 
 Borrower and
Bank are parties to a Loan and Security Agreement dated February 10, 2012, as amended by the First Amendment to Loan and Security Agreement dated May 31, 2012 (as amended, “Agreement”). The parties desire to amend the
Agreement further, in accordance with the terms of this Amendment. 
 NOW, THEREFORE, the parties agree as follows: 

1. Exhibit A to the Agreement is hereby amended by adding (in the appropriate alphabetical order) or amending and restating the following
terms to read in its entirety as follows: 
 “‘Minimum Cash Amount’ shall initially mean $3,000,000.00. The
undrawn availability under the Term Loan (as defined in the Silverback Loan Agreement), up to $2,000,000, shall be included in the calculation of Borrower’s ‘Cash’ for the purpose of calculating compliance with the ‘Minimum Cash
Amount’. Subject to the last sentence of this definition, on such date, if ever, as Silverback Enterprise Group, Inc. (“Silverback”) achieves, on a consolidated basis with its consolidated Subsidiaries, including, without limitation
PowerSteering, Visionael, TENROX Canada and TENROX US, a Fixed Charge Coverage Ratio for the two fiscal quarter period then ending (calculated on an annualized basis) of at least 1.20 to 1.00, the ‘Minimum Cash Amount’ shall reduce to
$2,000,000.00. Subject to the last sentence of this definition, on such date, if ever, as Silverback achieves, on a consolidated basis with its consolidated Subsidiaries, a Fixed Charge Coverage Ratio for the four fiscal quarter period then ending
of at least 1.20 to 1.00, the ‘Minimum Cash Amount’ shall reduce to $1,000,000.00. Notwithstanding the foregoing, the Minimum Cash Amount reductions set forth above shall not take effect prior to October 5, 2012.” 

“‘Silverback Loan Agreement’ means that certain Loan and Security Agreement dated as of March 5, 2012,
among Bank, Silverback, Visionael Corporation, a Delaware corporation, and PowerSteering Software, Inc., a Delaware corporation, as it may be amended, restated, replaced or supplemented from time to time.” 

2. Section 6.7(a) of the Agreement is amended in its entirety to read as follows: 

“(a) Minimum Cash. Borrower shall maintain at all times, on a consolidated basis with Silverback and its
consolidated Subsidiaries, including, without limitation PowerSteering, Visionael, TENROX Canada and TENROX US, a balance of Cash at Bank of not less than the Minimum Cash Amount, Notwithstanding the foregoing, the balance of Silverback’s and
its consolidated Subsidiaries’ Cash maintained in accounts at Bank located in the United States shall be at least $500,000 at all times.” 

Borrower authorizes Bank to decline to honor any drafts upon Borrower’s accounts with Bank or any requests by Borrower or
any other Person to pay or otherwise transfer any part of funds held in such accounts if (i) the aggregate balance of such accounts is less than the minimum cash requirement in effect under this Section 6.7(a) at such time, or
(ii) honoring such drafts or requests would cause the aggregate balance of such accounts to be, less than the minimum cash Requirement in effect under this Section 6.7(a) at such time.” 

 3. No course of dealing on the part of Bank or its officers, nor any failure or delay in the
exercise of any right by Bank, shall operate as a waiver thereof, and any single or partial exercise of any such right shall not preclude any later exercise of any such right. Bank’s failure at any time to require strict performance by Borrower
of any provision shall not affect any right of Bank thereafter to demand strict compliance and performance. Any suspension or waiver of a right must be in writing signed by an officer of Bank. 

4. Unless otherwise defined, all initially capitalized terms in this Amendment shall be as defined in the Agreement. The Agreement, as amended
hereby, shall be and remains in full force and effect in accordance with its terms and hereby is ratified and confirmed in all respects. Except as expressly set forth herein, the execution, delivery, and performance of this Amendment shall not
operate as a waiver of, or as an amendment of, any right, power, or remedy of Bank under the Agreement, as in effect prior to the date hereof. 

5. Borrower represents and warrants that the Representations and Warranties contained in the Agreement are true and correct in all material
respects as of the date of this Amendment (provided, however, that those representations and warranties expressly referring to another date shall be true, correct and complete in all material respects as of such date), and that no Event of Default
has occurred and is continuing. 
 6. As a condition to the effectiveness of this Amendment, Bank shall have received, in form and substance
satisfactory to Bank, the following: 
 (a) this Amendment, executed by Borrower; 

(b) all reasonable Bank Expenses incurred through the date of this Amendment, which may be debited from any of Borrower’s accounts; and

 (c) such other documents, and completion of such other matters, as Bank may reasonably deem necessary or appropriate. 

7. This Amendment may be executed in two or more counterparts, each of which shall be deemed an original, but all of which together shall
constitute one instrument. 
 [Signatures on following page] 

 IN WITNESS WHEREOF, the undersigned have executed this Amendment as of the first date above
written. 
  

			
	 TENROX INC., successor by amalgamation to Silverback Two Canada Merger Corporation 

		
	By:	 	     /s/ MICHAEL
HILL

 
			
	Name:	 	 Michael Hill

 
			
	 Title:
	 	 Corporate Secretary

  

			
	COMERICA BANK
		
	By:	 	      

			
	Name:	 	      

			
	Title:	 	      

 THIRD AMENDMENT TO 

LOAN AND SECURITY AGREEMENT 

This Third Amendment to Loan and Security Agreement (this “Amendment”) is entered into as of December 3, 2012, between
COMERICA BANK (“Bank”) and TENROX INC., successor by amalgamation to Silverback Two Canada Merger Corporation (“Borrower”). 

RECITALS 
 Borrower and
Bank are parties to that certain Loan and Security Agreement dated as of February 10, 2012 as amended by the First Amendment to Loan and Security Agreement dated May 31, 2012 and the Second Amendment to Loan and Security Agreement dated as
of June 25, 2012 (as amended, the “Agreement”). The parties desire to amend the Agreement, in accordance with the terms of this Amendment. 

NOW, THEREFORE, the parties agree as follows: 

1. All references to “Tenrox UK” in the Agreement and the other Loan Documents shall hereafter mean and refer to PowerSteering UK
(as defined in this Amendment). 
 2. Exhibit A to the Agreement is amended by adding (in the correct alphabetical order) or amending and
restating the following defined terms to read in their entirety as follows: 
 “‘Guarantors’ means,
collectively, Silverback Enterprise, Tenrox US, Visionael Corporation, PowerSteering, LMR Solutions, and each Subsidiary of a Guarantor which has executed and delivered to Bank a Guaranty and ‘Guarantor’ shall mean each individually.”

 “‘LMR Solutions’ means LMR Solutions LLC, a Delaware limited liability company.” 

“‘PowerSteering UK’ means PowerSteering Software Limited, formerly known as TENROX LTD, a private company
limited by shares formed under the laws of England and Wales.” 
 3. The following sentence is added to the end of Section 6.6 of
the Agreement: 
 “LMR Solutions may maintain accounts outside of Bank and Bank’s Affiliates until March 1,
2013, at which time, all accounts of LMR Solutions must be maintained at Bank or Bank’s Affiliates, which Bank Affiliate accounts shall be covered by a control agreement in form and substance reasonably acceptable to Bank.” 

4. Section 8.12 of the Agreement is amended and restated to read in its entirety as follows: 

“8.12 Cross-Default. Silverback Enterprise, PowerSteering, Visionael Corporation, LMR Solutions and any Person
that becomes a co-borrower under the Silverback Loan Agreement (as defined below), or any of them, default in the payment of any obligations for borrowed money from the Bank (whether by acceleration or otherwise), including, without limitation any
obligations under that certain Loan and Security Agreement dated as of March 5, 2012, among Bank, Silverback Enterprise, PowerSteering, Visionael Corporation and LMR Solutions, as it may be amended, restated, replaced or supplemented from time
to time (the “Silverback Loan Agreement”), and continuance thereof beyond any applicable period of cure provided with respect thereto, or in the observance or performance of any conditions, covenants or agreements related to or agreed to
with respect to any such obligations for borrowed money from the Bank, which continues beyond any applicable period of cure.” 

 5. No course of dealing on the part of Bank or its officers, nor any failure or delay in the
exercise of any right by Bank, shall operate as a waiver thereof, and any single or partial exercise of any such right shall not preclude any later exercise of any such right. Bank’s failure at any time to require strict performance by Borrower
of any provision shall not affect any right of Bank thereafter to demand strict compliance and performance. Any suspension or waiver of a right must be in writing signed by an officer of Bank. 

6. Unless otherwise defined, all initially capitalized terms in this Amendment shall be as defined in the Agreement. The Agreement, as amended
hereby, shall be and remains in full force and effect in accordance with its terms and hereby is ratified and confirmed in all respects. Except as expressly set forth herein, the execution, delivery, and performance of this Amendment shall not
operate as a waiver of, or as an amendment of, any right, power, or remedy of Bank under the Agreement, as in effect prior to the date hereof. 

7. Borrower represents and warrants that the Representations and Warranties contained in the Agreement are true and correct in all material
respects as of the date of this Amendment (provided, however, that those representations and warranties expressly referring to another date shall be true, correct and complete in all material respects as of such date), and that no Event of Default
has occurred and is continuing. 
 8. As a condition to the effectiveness of this Amendment, Bank shall have received, in form and substance
satisfactory to Bank, the following: 
 (a) this Amendment, executed by Borrower; 

(b) all reasonable Bank Expenses incurred through the date of this Amendment, which may be debited from any of Borrower’s accounts; and

 (c) such other documents, and completion of such other matters, as Bank may reasonably deem necessary or appropriate. 

9. This Amendment may be executed in two or more counterparts, each of which shall be deemed an original, but all of which together shall
constitute one instrument. 
 [Signatures on following page] 

 IN WITNESS WHEREOF, the undersigned have executed this Amendment as of the first date above
written. 
  

			
	 TENROX INC., successor by amalgamation to Silverback Two Canada Merger Corporation

		
	By:	 	 /s/ John T. McDonald

			
		
	Name:	 	 John T. McDonald

			
		
	 Title:
	 	 President

  

			
	COMERICA BANK
		
	By:	 	 /s/ Paul
Gerling    

 
			
		
	Name:	 	 Paul
Gerling    

 
			
		
	 Title:
	 	 Senior Vice
President    

 [Signature Page to Third Amendment to
Loan and Security Agreement] 

 FOURTH AMENDMENT TO 

LOAN AND SECURITY AGREEMENT AND WAIVER 

This Fourth Amendment to Loan and Security Agreement and Waiver (this “Amendment”) is entered into as of April 11, 2013,
between COMERICA BANK (“Bank”) and TENROX INC., successor by amalgamation to Silverback Two Canada Merger Corporation (“Borrower”). 

RECITALS 
 Borrower and Bank are parties
to that certain Loan and Security Agreement dated as of February 10, 2012 as amended by the First Amendment to Loan and Security Agreement dated May 31, 2012, the Second Amendment to Loan and Security Agreement dated as of June 25,
2012 and the Third Amendment to Loan and Security Agreement dated as of December 3, 2012 (as amended, the “Agreement”). The parties desire to further amend the Agreement in accordance with the terms of this Amendment, and
Borrower has requested that Bank waive certain covenant defaults existing under the Agreement. 
 NOW, THEREFORE, the parties agree as
follows: 
 1. Bank hereby waives Borrower’s violation of Section 7.4 of the Agreement (Indebtedness) and Section 7.5 of the
Agreement (Encumbrances) for the period beginning on August 31, 2012 through the Fourth Amendment Date. This waiver is specific as to content and time, shall be limited precisely as written, and shall not constitute a waiver of any other
current or future Default or Event of Default or breach of any covenant contained in the Agreement or the terms and conditions of any other Loan Documents. Bank expressly reserves all of its various rights, remedies, powers and privileges under the
Agreement and the other Loan Documents due to any other Default or breach not waived herein. 
 2. Exhibit A to the Agreement is amended by
adding (in the correct alphabetical order) or amending and restating the following defined terms to read in their entirety as follows: 

“‘Adjusted EBITDA’ means with respect to any fiscal period an amount equal to the sum of (a) Consolidated
Net Income for such fiscal period, plus (b) in each case to the extent deducted in the calculation of Consolidated Net Income and without duplication, (i) depreciation and amortization for such period, plus (ii) income
tax expense for such period, plus (iii) Consolidated Total Interest Expense paid or accrued during such period, plus (iv) non-cash expenses of Silverback and its consolidated Subsidiaries, including without limit those
expenses associated with granting stock options and restricted stock, plus (v) restructuring expenses incurred by Silverback and its Consolidated Subsidiaries in connection with the acquisitions by Silverback of Visionael, PowerSteering
and Borrower within twelve (12) months after the date of the consummation of the applicable acquisition in an aggregate amount not exceeding Two Million Two Hundred Thousand Dollars ($2,200,000), plus (vi) one-time transaction and
restructuring expenses incurred by Silverback and its consolidated Subsidiaries in connection with the acquisition by Silverback of LMR Solutions within twelve (12) months after the date of the consummation of the acquisition in an aggregate
amount not exceeding One Million Two Hundred Thousand Dollars ($1,200,000), plus (vii) one-time transaction and restructuring expenses incurred by Borrowers in connection with an acquisition and approved by Bank in writing, plus
(viii) any net change in deferred revenue during such period, including without limitation deferred revenue of an acquired company that, due to the business combination, is not recognized as revenue of the acquiring company under GAAP,
plus (ix) Silverback’s and its consolidated Subsidiaries’ expenses related to foreign exchange losses for such period, and minus, to the extent added in computing Consolidated Net Income, and without duplication,
(x) non-cash tax credits for such period and (y) foreign exchange related gains, all as determined in accordance with GAAP other than with respect to clauses (v), (vi) and (vii) above. Adjusted EBITDA shall be calculated on a
trailing four quarter basis for all testing periods commencing with the quarter ending March 31, 2013 

 
and thereafter; provided however, with respect to any acquired company, Adjusted EBITDA shall be calculated on (A) as of the first measuring period ending after the date such acquired
company was acquired (the ‘Acquisition Date’), a trailing four quarter basis, (B) as of the second measuring period ending after the Acquisition Date, an annualized basis and the relevant period of determination shall be the one
fiscal quarter period ending as of such date, (C) as of the third measuring period ending after the Acquisition Date, an annualized basis and the relevant period of determination shall be the two fiscal quarter period ending as of such date,
(D) as of the fourth measuring period ending after the Acquisition Date, an annualized basis and the relevant period of determination shall be the three fiscal quarter period ending as of such date, and (E) as of the fifth measuring period
ending after the Acquisition Date, and for each measuring period thereafter, a trailing four quarter basis.” 

“‘Advance’ or ‘Advances’ means a cash advance or cash advances under the Revolving Line.” 

“Applicable Measuring Period” means, (i) with respect to the fiscal quarters ending June 30,
2012, September 30, 2012 and December 31, 2012, the period commencing on April 1, 2012, and ending on such date of determination, and (ii) with respect to the fiscal quarter ending March 31, 2013, and each fiscal
quarter ending thereafter, the four fiscal quarter period then ending. 
 “‘Borrowing Base’ means an amount
equal to the sum of: (a) eighty percent (80%) of Eligible Accounts, plus (b) the product of Borrower’s Eligible Monthly Recurring Revenue for the trailing three (3) month period ending on any applicable date of determination
multiplied by Borrower’s weighted average Renewal Rate for the two (2) most recent calendar quarters ended as of such date of determination, as determined by Bank with reference to the most recent Borrowing Base Certificate delivered by or
on behalf of Borrower.” 
 “‘Credit Extension’ means each Advance, Term Loan A Advance, Term Loan
Advance or any other extension of credit by Bank to or for the benefit of Borrower hereunder.” 

“‘EBITDA’ means with respect to any fiscal period an amount equal to the sum of (a) Consolidated Net
Income for such fiscal period, plus (b) in each case to the extent deducted in the calculation of Consolidated Net Income and without duplication, (i) depreciation and amortization for such period, plus (ii) income tax
expense for such period, plus (iii) Consolidated Total Interest Expense paid or accrued during such period, plus (iv) non-cash expenses of Silverback and its consolidated Subsidiaries, including without limit those expenses
associated with granting stock options and restricted stock, plus (v) restructuring expenses incurred by Silverback and its Consolidated Subsidiaries in connection with the acquisitions by Silverback of Visionael, PowerSteering and
Borrower within twelve (12) months after the date of the consummation of the applicable acquisition in an aggregate amount not exceeding One Hundred Fifty Six Thousand Dollars ($156,000), plus (vi) one-time transaction and
restructuring expenses incurred by Silverback and its consolidated Subsidiaries in connection with the acquisition by Silverback of LMR Solutions within twelve (12) months after the date of the consummation of the acquisition in an aggregate
amount not exceeding One Million Two Hundred Thousand Dollars ($1,200,000), plus (vii) any net change in deferred revenue during such period, including without limitation deferred revenue of an acquired company that, due to the business
combination, is not recognized as revenue of the acquiring company under GAAP, plus (ix) Silverback’s and its consolidated Subsidiaries’ expenses related to foreign exchange losses for such period, and minus, to the
extent added in computing Consolidated Net Income, and without duplication, (x) non-cash tax credits for such period and (y) foreign exchange related gains, all as determined in accordance with GAAP other than with respect to clauses
(v) and (vi) above. EBITDA shall be calculated on a trailing four quarter basis for all testing periods commencing with the quarter ending March 31, 2013 and thereafter.” 

 “‘Eligible Accounts’ means those Accounts that arise in the
ordinary course of Borrower’s business that comply with all of Borrower’s representations and warranties to Bank set forth in Section 5.3; provided, that Bank may change the standards of eligibility by giving Borrower thirty
(30) days prior written notice. Unless otherwise agreed to by Bank, Eligible Accounts shall not include the following: 
  

	 	(a)	Accounts that the account debtor has failed to pay in full within ninety (90) days of invoice date; 

  

	 	(b)	Credit balances over ninety (90) days; 

  

	 	(c)	Accounts with respect to an account debtor, twenty-five percent (25%) of whose Accounts the account debtor has failed to pay within ninety (90) days of invoice date; 

 

	 	(d)	Accounts with respect to an account debtor, including Subsidiaries and Affiliates, whose total obligations to Borrower exceed twenty-five percent (25%) of all Accounts, to the extent such obligations exceed the
aforementioned percentage, except as approved in writing by Bank; 

  

	 	(e)	Accounts with respect to which the account debtor does not have its principal place of business in the United States, except for Eligible Foreign Accounts; 

 

	 	(f)	Accounts with respect to which the account debtor is the United States or any department, agency, or instrumentality of the United States, except for Accounts of the United States if the payee has assigned its payment
rights to Bank and the assignment has been acknowledged under the Assignment of Claims Act of 1940 (31 U.S.C. 3727); 

  

	 	(g)	Accounts with respect to which Borrower is liable to the account debtor for goods sold or services rendered by the account debtor to Borrower, but only to the extent of any amounts owing to the account debtor against
amounts owed to Borrower; 

  

	 	(h)	Accounts with respect to which goods are placed on consignment, guaranteed sale, sale or return, sale on approval, bill and hold, demo or promotional, or other terms by reason of which the payment by the account debtor
may be conditional; 

  

	 	(i)	Accounts with respect to which the account debtor is an officer, employee, agent or Affiliate of Borrower other than Tenrox US; 

  

	 	(j)	Accounts that have not yet been billed to the account debtor or that relate to deposits (such as good faith deposits) or other property of the account debtor held by Borrower for the performance of services or delivery
of goods which Borrower has not yet performed or delivered; 

  

	 	(k)	Accounts with respect to which the account debtor disputes liability or makes any claim with respect thereto as to which Bank believes, in its sole discretion, that there may be a basis for dispute (but only to the
extent of the amount subject to such dispute or claim), or is subject to any Insolvency Proceeding, or becomes insolvent, or goes out of business; 

  

	 	(l)	Accounts the collection of which Bank reasonably determines after inquiry and consultation with Borrower to be doubtful; and 

  

	 	(m)	Retentions and hold-backs.” 

 “‘Eligible Foreign Accounts’ means Accounts (i) with respect
to which the account debtor does not have its principal place of business in the United States and is not located in an OFAC sanctioned country, (ii) that are (a) supported by one or more letters of credit in an amount and of a tenor, and
issued by a financial institution, acceptable to Bank, (b) insured by the Export Import Bank of the United States, (c) generated by an account debtor with its principal place of business in Canada, provided that the Bank has perfected its
security interest in the appropriate Canadian province, or (d) approved by Bank on a case-by-case basis, and (iii) that otherwise meet the definition of Eligible Accounts, other than clause (e). All Eligible Foreign Accounts must be
calculated in U.S. Dollars.” 
 “‘Eligible Monthly Recurring Revenue’ means, as of any applicable
measuring period, Borrower’s revenues (as determined in accordance with GAAP) for such period from account debtors that have executed a service contract with Borrower that is effective as of the date of determination and entered into in the
ordinary course of Borrower’s business and consistency with past practices; provided, however, that (A) all extraordinary and non-recurring revenue and (B) the service contract (excluding extraordinary and non-recurring
contracts) revenue of any account debtor (1) whose contracts with Borrower the account debtor has failed to pay within 90 days of invoice date, (2) whose contracts are not renewed within 30 days subsequent to the renewal date for each such
contract, (3) whose contracts are not performing acceptably to Bank in its sole discretion, (4) whose contracts the Bank has reasonably determined may not collectible, or (5) that is subject to any Insolvency Proceeding, or becomes
insolvent, or goes out of business, will be excluded from the calculation of Eligible Monthly Recurring Revenue.” 
 “‘Fixed
Charge Coverage Ratio’ means for any Applicable Measuring Period and with respect to any Person, the ratio of (i) the Adjusted EBITDA of such Person for such period, to (ii) the sum of (A) the current portion of all long-term
Indebtedness of such Person, plus (B) the Consolidated Total Interest Expense paid or accrued of such Person during such period, plus (C) all income taxes paid or payable during such period (other than income taxes properly deferred for
payment in a subsequent period) by such Person, plus (D) unfinanced capital expenditures of such Person during such period. For the purpose of calculating the Fixed Charge Coverage Ratio, the current portion of long-term Indebtedness shall not
include amounts owing under the Sellers’ Notes.” 
 “‘Fourth Amendment Date’ shall mean April 11, 2013.”

 “‘Minimum Cash Amount’ means the following amounts during the following respective
periods: 
  

					
	 Period
	  	 Minimum Cash
	 
	 Fourth Amendment Date through and including June 29, 2013
	  	 	$1,150,000	  
	 June 30, 2013 through and including September 29, 2013
	  	 	$1,300,000	  
	 September 30, 2013 through and including the earlier of (i) date of payment of the Holdback Amount and
(ii) December 30, 2013
	  	 	$1,450,000	  
	 Date of payment of the Holdback Amount through and including March 30, 2014
	  	 	$1,000,000	  
	 March 31, 2014 through and including June 29, 2014
	  	 	$1,375,000	  
	 June 30, 2014 through and including September 29, 2014
	  	 	$1,750,000	  
	 September 30, 2014 through the date of repayment of the Sellers’ Notes
	  	 	$2,125,000	  
	 Date of repayment of Sellers’ Notes and thereafter
	  	 	$1,000,000”	  

 “‘Post-Fourth Amendment Audit’ has the meaning set forth for such term in
Section 6.11 hereof.” 
 “‘Renewal Rate’ means, as of any applicable date of determination, one
hundred percent (100%), minus the percentage of annual recurring revenue from Borrower’s clients under recurring service contracts (‘Contracts’) who discontinue their Contracts during the twelve month period ending on the last
day of the last fiscal quarter immediately preceding the applicable date of determination out of the total annual recurring revenue value of Contracts up for renewal during the twelve month period ending on the last day of the last fiscal quarter
immediately preceding the applicable date of determination and the total annual recurring value of multi-year Contracts which have an anniversary (not renewal date) during the twelve month period ending on the last day of the last fiscal quarter
immediately preceding the applicable date of determination (collectively, “Total ARR”), plus the percentage of annual recurring revenue from price increases on Borrower’s clients under Contracts who have a price increase in
their Contracts during the twelve month period ending on the last day of the last fiscal quarter immediately preceding the applicable date of determination out of Total ARR, plus the percentage of annual recurring revenue expansion on
Borrower’s clients under Contracts who have a license expansion in their Contracts during the twelve month period ending on the last day of the last fiscal quarter immediately preceding the applicable date of determination out of Total ARR,
minus the percentage of annual recurring revenue contraction on Borrower’s clients under Contracts who have a license contraction in their Contracts during the twelve month period ending on the last day of the last fiscal quarter
immediately preceding the applicable date of determination out of Total ARR, plus the percentage of annual recurring revenue from Borrower’s clients under Contracts which were previously treated as not renewing their Contracts in
preceding fiscal quarters but which did in fact renew their Contracts within the calendar quarter immediately following each such Contract’s applicable termination date out of Total ARR. Notwithstanding the foregoing, the Renewal Rate shall not
exceed 100%.” 
 “‘Revolving Line’ means a Credit Extension of up to Three Million Dollars
($3,000,000).” 
 “‘Revolving Maturity Date’ means April 11, 2015.” 

“‘Sellers’ means, collectively, Joseph Larscheid and Cheryl Larscheid.” 

“‘Sellers’ Notes” means, collectively, the promissory notes, each dated November 14, 2012, in the
aggregate amount of $1,500,000 payable by Silverback to Sellers, which indebtedness constitutes Subordinated Debt.” 

 “‘Silverback Loan Agreement’ means that certain Loan and Security
Agreement among Bank, Silverback, Visionael Corporation, a Delaware corporation, and PowerSteering Software, Inc., a Delaware corporation, and LMR Solutions LLC, a Delaware limited liability company, dated as of March 5, 2012, as amended,
restated, replaced or supplemented from time to time.” 
 “‘Term Loan A’ means a Credit Extension of up
to Two Million Five Hundred Thousand Dollars ($2,500,000).” 
 “‘Term Loan A Advance’ means a cash
advance under the Term Loan A.” 
 “‘Term Loan A Maturity Date’ means April 11, 2015.” 

3. Subsection (c) of the definition of “Permitted Indebtedness” in Exhibit A of the Agreement is amended and restated to read
in its entirety as follows: 
 “(c) Indebtedness not to exceed One Million Two Hundred Thousand Dollars ($1,200,000) in
the aggregate in any fiscal year of Borrower secured by a lien described in clause (c) of the defined term “Permitted Liens,” provided such Indebtedness does not exceed the lesser of the cost or fair market value of the equipment
financed with such Indebtedness;” 
 4. Subsection (c) of the definition of “Permitted Liens” in Exhibit A of the
Agreement is amended and restated to read in its entirety as follows: 
 “(c) Liens securing obligations not to exceed
One Million Two Hundred Thousand Dollars ($1,200,000) in the aggregate (i) upon or in any Equipment (other than Equipment financed by a Credit Extension) acquired or held by Borrower or any of its Subsidiaries to secure the purchase price of
such Equipment or indebtedness incurred solely for the purpose of financing the acquisition or lease of such Equipment, or (ii) existing on such Equipment at the time of its acquisition, provided that the Lien is confined solely to the property
so acquired and improvements thereon, and the proceeds of such Equipment;” 
 5. New Sections 2.1(c) and 2.1(d) are added to the
Agreement immediately following Section 2.1(b) to read in their entirety as follows: 
 “(c) Advances Under Revolving Line.

 (i) Amount. Subject to and upon the terms and conditions of this Agreement Borrower may request Advances in an
aggregate outstanding amount not to exceed the lesser of (A) the Revolving Line or (B) the Borrowing Base. Amounts borrowed pursuant to this Section 2.1(c) may be repaid and reborrowed at any time without penalty or premium prior to
the Revolving Maturity Date, at which time all Advances under this Section 2.1(c) shall be immediately due and payable. 

 (ii) Form of Request. Whenever Borrower desires an Advance, Borrower will
notify Bank by facsimile transmission or telephone no later than 3:00 p.m. Central time (12:00 p.m. Central time for wire transfers), on the Business Day that the Advance is to be made. Each such notification shall be promptly confirmed by a
Payment/Advance Form in substantially the form of Exhibit C. Bank is authorized to make Advances under this Agreement, based upon instructions received from a Responsible Officer or a designee of a Responsible Officer, or without instructions if in
Bank’s discretion such Advances are necessary to meet Obligations which have become due and remain unpaid. Bank shall be entitled to rely on any facsimile or telephonic notice given by a person who Bank reasonably believes to be a Responsible
Officer or a designee thereof, and Borrower shall indemnify and hold Bank harmless for any damages or loss suffered by Bank as a result of such reliance. Bank will credit the amount of Advances made under this Section 2.1(c) to Borrower’s
deposit account. 
 (d) Term Loan A Advances. 

(i) Subject to and upon the terms and conditions of this Agreement, Bank agrees to make one Term Loan A Advance to Borrower.
Borrower may request the Term Loan A Advance on the Fourth Amendment Date. The aggregate outstanding amount of the Term Loan A Advance shall not exceed the Term Loan A. Proceeds of the Term Loan A shall be used to repay to Bank $2,500,000 of the
principal outstanding under the Term Loan.” 
 (ii) Interest shall accrue from the date of the Term Loan A Advance at
the rate specified in Section 2.3(a), and shall be payable in accordance with Section 2.3(c). The Term Loan A Advance shall be payable in twenty four (24) equal monthly installments of principal, plus all accrued interest, beginning
on May 1, 2013, and continuing on the same day of each month thereafter until paid in full. The Term Loan A Advance, once repaid, may not be reborrowed. Borrower may prepay the Term Loan A Advance without penalty or premium. 

(iii) When Borrower desires to obtain the Term Loan A Advance, Borrower shall notify Bank (which notice shall be irrevocable)
by facsimile transmission to be received no later than 3:00 p.m. Central time on the Business Days on which the Term Loan A Advance is to be made. Such notice shall be substantially in the form of Exhibit C. The notice shall be signed by a
Responsible Officer or its designee. Bank shall be entitled to rely on any facsimile or telephonic notice given by a person who Bank reasonably believes to be a Responsible Officer or a designee thereof, and Borrower shall indemnify and hold Bank
harmless for any damages or loss suffered by Bank as a result of such reliance.” 
 6. Section 2.2 of the Agreement is amended and
restated in its entirety to read as follows: 
 “2.2 Overadvances. If the aggregate amount of the outstanding Advances exceeds
the lesser of the Revolving Line or the Borrowing Base at any time, Borrower shall immediately pay to Bank, in cash, the amount of such excess.” 

7. Section 2.3(a) of the Agreement is amended and restated in its entirety to read as follows: 

“(a) Interest Rate. 

(i) Advances. Except as set forth in Section 2.3(b), the Advances shall bear interest, on the outstanding daily
balance thereof as set forth in the Prime Referenced Rate Addendum to Loan and Security Agreement attached hereto as Exhibit E (‘Interest Rate Addendum’). 

(ii) Term Loan A Advances. Except as set forth in Section 2.3(b), the Term Loan A Advances shall bear interest, on
the outstanding daily balance thereof as set forth in the Interest Rate Addendum.” 

 8. Section 5.3 of the Agreement is amended and restated in its entirety to read as follows:

 “5.3 Collateral. Borrower has rights in or the power to transfer the Collateral, and its title to the Collateral is free and
clear of Liens, adverse claims, and restrictions on transfer or pledge except for Permitted Liens and restrictions created under this Agreement. All Collateral is located solely in the Collateral Locations. The Eligible Accounts are bona fide
existing obligations. The property or services giving rise to such Eligible Accounts has been delivered or rendered to the account debtor or its agent for immediate shipment to and unconditional acceptance by the account debtor. Borrower has not
received notice of actual or imminent Insolvency Proceeding of any account debtor whose accounts are included in any Borrowing Base Certificate as an Eligible Account. No licenses or agreements giving rise to such Eligible Accounts is with any
Prohibited Territory or with any Person organized under or doing business in a Prohibited Territory. All Inventory is in all material respects of good and merchantable quality, free from all material defects, except for Inventory for which adequate
reserves have been made. Except as set forth in the Schedule, none of the Collateral consisting of deposit or investment accounts is maintained or invested with a Person other than Bank or Bank’s Affiliates.” 

9. Section 6.7 of the Agreement is amended and restated to read in its entirety as follows: 

“6.7 Financial Covenants. Borrower shall maintain, or cause to be maintained, the following financial ratios and covenants: 

(a) Minimum Cash. Silverback shall maintain at all times, on a consolidated basis with its consolidated Subsidiaries,
including, without limitation PowerSteering, Visionael, Borrower, LMR Solutions and Tenrox US, Cash at Bank of not less than the Minimum Cash Amount. Notwithstanding the foregoing, the balance of Silverback’s and its consolidated
Subsidiaries’ Cash maintained in accounts at Bank located in the United States shall be at least $500,000 at all times. 

Borrower authorizes Bank to decline to honor any drafts upon Borrower’s accounts with Bank or any requests by Borrower or
any other Person to pay or otherwise transfer any part of funds held in such accounts if (i) the aggregate balance of such accounts is less than the Minimum Cash Amount in effect under this Section 6.7(a) at such time, or
(ii) honoring such drafts or requests would cause the aggregate balance of such accounts to be, less than the Minimum Cash Amount in effect under this Section 6.7(a) at such time. 

(b) Fixed Charge Coverage Ratio. Silverback shall maintain on a consolidated basis with its consolidated Subsidiaries,
including, without limitation Borrower, Tenrox US, PowerSteering, PowerSteering UK and Visionael, and commencing with the fiscal quarter ending March 31, 2013, LMR Solutions, as of the last day of each fiscal quarter, a Fixed Charge Coverage
Ratio of not less than 1.25 to 1.00. 
 (c) Indebtedness to Adjusted EBITDA Ratio. Silverback shall maintain on a
consolidated basis with its consolidated Subsidiaries, including, without limitation Borrower, Tenrox US, PowerSteering, PowerSteering UK and Visionael, and commencing with the fiscal quarter ending March 31, 2013, LMR Solutions, as of the last
day of each fiscal quarter, a ratio of (i) all Indebtedness of Silverback and its consolidated Subsidiaries to (ii) Adjusted EBITDA of not more than 3.25 to 1.00. 

(d) EBITDA. Silverback shall maintain on a consolidated basis with its consolidated Subsidiaries, including, without
limitation Borrower, Tenrox US, PowerSteering, PowerSteering UK and Visionael, and commencing with the fiscal quarter ending March 31, 2013, LMR Solutions, EBITDA of not less than $5,000,000; provided, that if Borrower acquires any other
Persons after the Fourth Amendment Date, Bank reserves the right to reset the amount set forth in this section for the fiscal year ending December 31, 2014.” 

 10. New Section 6.11 is added to the Agreement immediately after Section 6.10 thereof
to read in its entirety as follows: 
 “6.11 Post-Fourth Amendment Audit. Within sixty (60) days after the Fourth Amendment
Date, Bank shall have a right to audit each Borrower’s Accounts and appraise Collateral (‘Post-Fourth Amendment Audit’).” 

11. Bank’s notice address in Section 10 of the Agreement is amended and restated in its entirety to read as follows: 

 

			
	 “If to Bank:
	 	 Comerica Bank
 M/C 7578

39200 Six Mile Rd.
 Livonia, MI 48152

Attn: National Documentation Services

		
	 with a copy to:
	 	 Comerica Bank
 300 W. Sixth St.

Suite 2250
 Austin, TX 78701

Attn: Megan Kirk
 FAX: (512) 427-7178”

 12. Exhibit D to the Agreement is deleted and replaced with Exhibit D attached hereto. 

13. Exhibit F is added to the Agreement in the form of Exhibit F attached hereto. 

14. The Schedule of Exceptions to the Agreement is amended as set forth in the Amendment to Schedule of Exceptions attached hereto. 

15. Notwithstanding anything to the contrary in the Agreement, the principal installment payment of the Term Loan due April 1, 2013 is
deferred until the earlier of May 1, 2013 and the refinancing of the Term Loan. 
 16. No course of dealing on the part of Bank or its
officers, nor any failure or delay in the exercise of any right by Bank, shall operate as a waiver thereof, and any single or partial exercise of any such right shall not preclude any later exercise of any such right. Bank’s failure at any time
to require strict performance by Borrower of any provision shall not affect any right of Bank thereafter to demand strict compliance and performance. Any suspension or waiver of a right must be in writing signed by an officer of Bank. 

17. Unless otherwise defined, all initially capitalized terms in this Amendment shall be as defined in the Agreement. The Agreement, as
amended hereby, shall be and remains in full force and effect in accordance with its terms and hereby is ratified and confirmed in all respects. Except as expressly set forth herein, the execution, delivery, and performance of this Amendment shall
not operate as a waiver of, or as an amendment of, any right, power, or remedy of Bank under the Agreement, as in effect prior to the date hereof. 

18. Borrower represents and warrants that the Representations and Warranties contained in the Agreement are true and correct in all material
respects as of the date of this Amendment (provided, however, that those representations and warranties expressly referring to another date shall be true, correct and complete in all material respects as of such date), and that no Event of Default
has occurred and is continuing. 

 19. As a condition to the effectiveness of this Amendment, Bank shall have received, in form and
substance satisfactory to Bank, the following: 
 (a) this Amendment, executed by Borrower; 

(b) an officer’s certificate of Borrower with respect to incumbency and resolutions authorizing the execution and delivery of this
Amendment and related documents; 
 (c) an Itemization of Amount Financed Disbursement Instructions (Revolving Line); 

(d) an Itemization of Amount Financed Disbursement Instructions (Term Loan A); 

(e) an Amendment to and Affirmation of Guaranty Documents, executed by Silverback, Visionael, PowerSteering, LMR and Tenrox US; 

(f) an automatic debit authorization, executed by Borrower; 

(g) all reasonable Bank Expenses incurred through the date of this Amendment, which may be debited from any of Borrower’s accounts; and

 (h) such other documents, and completion of such other matters, as Bank may reasonably deem necessary or appropriate. 

20. This Amendment may be executed in two or more counterparts, each of which shall be deemed an original, but all of which together shall
constitute one instrument. 
 [Remainder of Page Intentionally Left Blank] 

 IN WITNESS WHEREOF, the undersigned have executed this Amendment as of the first date above
written. 
  

			
	TENROX INC., successor by amalgamation to Silverback Two Canada Merger Corporation
		
	By:	 	/s/ JOHN T. MCDONALD

 
			
	Name:	 	 John T. McDonald

			
	Title:	 	 President

  

			
	COMERICA BANK 
		
	By:	 	/s/ PAUL GERLING

 
			
	Name:	 	 Paul Gerling

 
			
	Title:	 	 Senior Vice President

 [Signature Page to Fourth Amendment to Loan and Security Agreement and Waiver] 

  
 55 

 EXHIBIT D 

COMPLIANCE CERTIFICATE 
  

					
	Please send all Required Reporting to:	  	Comerica Bank	  	
		  	Technology & Life Sciences Division 	  	
		  	 Loan Analysis Department
	  	
		  	300 W. Sixth St., Suite 1300	  	
		  	 Austin, TX 78701
	  	
		  	 Fax: (512) 427-7178
 Email:
tlstxcompliance@comerica.com
	  	

 FROM: SILVERBACK TWO CANADA MERGER CORPORATION 

The undersigned authorized Officer of SILVERBACK TWO CANADA MERGER CORPORATION (“Borrower”), hereby certifies that in accordance with the terms and
conditions of the Loan and Security Agreement between Borrower and Bank (the “Agreement”), (i) Borrower is in complete compliance for the period ending with all required covenants, including without limitation the ongoing registration
of intellectual property rights in accordance with Section 6.8, except as noted below and (ii) all representations and warranties of Borrower stated in the Agreement are true and correct in all material respects as of the date hereof
except as noted below; provided however, that those representations and warranties expressly referring to another date shall be true, correct and complete in all material respects as of such date. Attached herewith are the required documents
supporting the above certification (the “Supporting Documents”). The Officer further certifies the Supporting Documents are prepared in accordance with Generally Accepted Accounting Principles (GAAP) and are consistently applied form one
period to the next except as explained in an accompanying letter or footnotes and with respect to unaudited financial statements, for the absence of footnotes and subject to year-end adjustments. 

Please indicate compliance status by circling Yes/No under “Complies” or “Applicable” column, 

 

											
	 REPORTING COVENANTS
	  	 REQUIRED
	    	 COMPLIES
	 
	 Company Prepared Monthly F/S
	  	Monthly, within 30 days	    	 	YES	  	    	 	NO	  
	 Compliance Certificate
	  	Monthly, within 30 days	    	 	YES	  	    	 	NO	  
	 CPA Audited re .Silverback Enterprise Unqualified F/S
	  	Annually, within 150 days of FYE	    	 	YES	  	    	 	NO	  
	 Company Prepared re Borrower F/S
	  	Annually, within 150 days of FYE	    	 	YES	  	    	 	NO	  
	 A/R & A/P Agings
	  	Monthly, within 30 days	    	 	YES	  	    	 	NO	  
	 Annual Business Plan (incl. operating budget)
	  	Annually, by 12/31	    	 	YES	  	    	 	NO	  
	 Intellectual Property Report
	  	Quarterly within 30 days	    	 	YES	  	    	 	NO	  
	 Audit
	  	Annual	    	 	YES	  	    	 	NO	  
				
	 If Public:
	  		    				    			
	 10-Q
	  	Quarterly, within 5 days of SEC filing (50 days)	    	 	YES	  	    	 	NO	  
	 10-K
	  	Annually, within 5 days of SEC filing (95 days)	    	 	YES	  	    	 	NO	  
				
	 Total amount of Borrower’s cash and

investments
	  	Amount: $                        	    	 	YES	  	    	 	NO	  
	 Total amount of Borrower’s cash and investments maintained with Bank
	  	Amount: $                        	    	 	YES	  	    	 	NO	  
			
	 	  	 DESCRIPTION
	    	 APPLICABLE

	 
	 Legal Action > $100,000 (Sect. 6.2(iv))
	  	Notify promptly upon notice
                                	    	 	YES	  	    	 	NO	  
	 Inventory Disputes> $100,000 (Sect. 6.3)
	  	Notify promptly upon notice
                                	    	 	YES	  	    	 	NO	  
	 Mergers & Acquisitions> $100,000 (Sect. 7.3)
	  	Notify promptly upon notice
                                	    	 	YES	  	    	 	NO	  
	 Cross default with other agreements>$250,000 (Sect. 8.7)
	  	Notify promptly upon notice
                                	    	 	YES	  	    	 	NO	  
				
	 Judgments/Settlements > $200,000 (Sect. 8.9)
	  	Notify promptly upon notice
                                	    	 	YES	  	    	 	NO	  

  

																	
	FINANCIAL COVENANTS	  	REQUIRED	  	ACTUAL	 	    	COMPLIES	 	  	 
				
	TO BE TESTED MONTHLY, UNLESS OTHERWISE NOTED	 	    	 	 	    	 	 	  	 
	 Minimum Cash Amount
	  	See Section 6.7(a)	  	$	                            	  	    	 	YES	  	    	 	NO	  	  	
	 Consolidated Fixed Charge Coverage Ratio
	  	1.25 to 1.00	  	 	                to 1.00	  	    	 	YES	  	    	 	NO	  	  	
	 Consolidated Indebtedness to Adjusted EBITDA Ratio
	  	3.25 to 1.00	  	 	                to 1.00	  	    	 	YES	  	    	 	NO	  	  	
	 EBITDA
	  	$5,000,000	  	$	                            	  	    	 	YES	  	    	 	NO	  	  	

  

															
	FINANCIAL COVENANTS	    	REQUIRED	  	ACTUAL	 	    	COMPLIES	 
	 Permitted Indebtedness for equipment leases
	    	<$1,200,000	  	$	                                   
 	  	    	 	YES	  	    	 	NO	  
	 Permitted Investments for stock repurchase
	    	<$100,000	  	$	                                   
 	  	    	 	YES	  	    	 	NO	  
	 Permitted Investments for subsidiaries
	    	<$100,000	  	$	                                   
 	  	    	 	YES	  	    	 	NO	  
	 Permitted Investments for employee loans
	    	<$100,000	  	$	                                   
 	  	    	 	YES	  	    	 	NO	  
	 Permitted Investments for joint ventures
	    	<$100,000	  	$	                                   
 	  	    	 	YES	  	    	 	NO	  
	 Permitted Liens for equipment leases
	    	<$1,200,000	  	$	                                   
 	  	    	 	YES	  	    	 	NO	  
	 Permitted Transfers
	    	<$100,000	  	$	                                   
 	  	    	 	YES	  	    	 	NO	  

 Please Enter Below Comments Regarding Violations and Exceptions to Representations and Warranties: 

The undersigned further acknowledges that at any time Borrower is not in compliance with all the terms set forth in the Agreement, including, without
limitation, the financial covenants, no credit extensions will be made. 
  

	
	Very truly yours,
	
	 
	Authorized Signer
	
	 
	Name
	
	 
	Title

 [Signature Page to Fourth Amendment to Loan and Security Agreement and Waiver] 

 EXHIBIT F 

Borrowing Base Certificate 

  
 2 

 FIFTH AMENDMENT TO 

LOAN AND SECURITY AGREEMENT 

This Fifth Amendment to Loan and Security Agreement (this “Amendment”) is entered into as of May 16, 2013, between
COMERICA BANK (“Bank”) and TENROX INC., successor by amalgamation to Silverback Two Canada Merger Corporation (“Borrower”). 

RECITALS 
 Borrower and
Bank are parties to that certain Loan and Security Agreement dated as of February 10, 2012 as amended by the First Amendment to Loan and Security Agreement dated May 31, 2012, the Second Amendment to Loan and Security Agreement dated as of
June 25, 2012, the Third Amendment to Loan and Security Agreement dated as of December 3, 2012 and the Fourth Amendment to Loan and Security Agreement and Waiver dated as of April 11, 2013 (as amended, the
“Agreement”). The parties desire to amend the Agreement, in accordance with the terms of this Amendment. 
 NOW, THEREFORE,
the parties agree as follows: 
 1. Exhibit A to the Agreement is amended by adding (in the correct alphabetical order) or amending and
restating the following defined terms to read in their entirety as follows: 
 “‘FileBound’ means FileBound
Solutions, Inc., a Florida corporation.” 
 “‘Guarantors’ means, collectively, Silverback Enterprise,
Tenrox US, Visionael Corporation, PowerSteering, LMR Solutions, Marex and FileBound and each Subsidiary of a Guarantor which has executed and delivered to Bank a Guaranty and ‘Guarantor’ shall mean each individually.” 

“‘Marex’ means Marex Group, Inc., a Nebraska corporation.” 

“‘Silverback Loan Agreement’ means that certain Loan and Security Agreement among Bank, Silverback, Visionael
Corporation, PowerSteering, LMR Solutions, Marex and FileBound, dated as of March 5, 2012, as amended, restated, replaced or supplemented from time to time.” 
  

	2.	Section 8.12 of the Agreement is amended and restated to read in its entirety as follows: 

“8.12 Cross-Default. Silverback Enterprise, PowerSteering, Visionael Corporation, LMR Solutions, Marex and
FileBound and any Person that becomes a co-borrower under the Silverback Loan Agreement, or any of them, default in the payment of any obligations for borrowed money from the Bank (whether by acceleration or otherwise), including, without limitation
any obligations under the Silverback Loan Agreement, and continuance thereof beyond any applicable period of cure provided with respect thereto, or in the observance or performance of any conditions, covenants or agreements related to or agreed to
with respect to any such obligations for borrowed money from the Bank, which continues beyond any applicable period of cure.” 
 3. No
course of dealing on the part of Bank or its officers, nor any failure or delay in the exercise of any right by Bank, shall operate as a waiver thereof, and any single or partial exercise of any such right shall not preclude any later exercise of
any such right. Bank’s failure at any time to require strict performance by Borrower of any provision shall not affect any right of Bank thereafter to demand strict compliance and performance. Any suspension or waiver of a right must be in
writing signed by an officer of Bank. 

 4. Unless otherwise defined, all initially capitalized terms in this Amendment shall be as
defined in the Agreement. The Agreement, as amended hereby, shall be and remains in full force and effect in accordance with its terms and hereby is ratified and confirmed in all respects. Except as expressly set forth herein, the execution,
delivery, and performance of this Amendment shall not operate as a waiver of, or as an amendment of, any right, power, or remedy of Bank under the Agreement, as in effect prior to the date hereof. 

5. Borrower represents and warrants that the Representations and Warranties contained in the Agreement are true and correct in all material
respects as of the date of this Amendment (provided, however, that those representations and warranties expressly referring to another date shall be true, correct and complete in all material respects as of such date), and that no Event of Default
has occurred and is continuing. 
 6. As a condition to the effectiveness of this Amendment, Bank shall have received, in form and substance
satisfactory to Bank, the following: 
 (a) this Amendment, executed by Borrower; 

(b) Security Agreements, executed by each of Marex and FileBound; 

(c) Unconditional Guaranties, executed by each of Marex and FileBound; 

(d) an Amendment No. 4 to Pledge and Security Agreement, executed by Silverback; 

(e) an officer’s certificate of each of Marex and FileBound with respect to incumbency and resolutions authorizing the execution and
delivery of the Security Agreements, Unconditional Guaranties and all related documents; 
 (f) all reasonable Bank Expenses incurred through
the date of this Amendment, which may be debited from any of Borrower’s accounts; and 
 (g) such other documents, and completion of
such other matters, as Bank may reasonably deem necessary or appropriate. 
 7. This Amendment may be executed in two or more counterparts,
each of which shall be deemed an original, but all of which together shall constitute one instrument. 
 [Signatures on following page] 

 IN WITNESS WHEREOF, the undersigned have executed this Amendment as of the first date above
written. 
  

			
	TENROX INC., successor by amalgamation to Silverback Two Canada Merger Corporation
		
	By:	 	     /s/ John T. McDonald

 
			
		
	Name:	 	     John T.
McDonald

 
			
		
	Title:	 	     President

  

			
	COMERICA BANK
		
	By:	 	    /s/ Paul Gerling

 
			
		
	Name:	 	     Paul
Gerling

 
			
		
	Title:	 	     Senior Vice President

 [Signature Page to Fifth Amendment to Loan and Security Agreement (1302520)] 

 SIXTH AMENDMENT TO 

LOAN AND SECURITY AGREEMENT 

This Sixth Amendment to Loan and Security Agreement (this “Amendment”) is entered into as of December 6, 2013, between
COMERICA BANK (“Bank”) and TENROX INC., successor by amalgamation to Silverback Two Canada Merger Corporation (“Borrower”). 

RECITALS 
 Borrower and
Bank are parties to that certain Loan and Security Agreement dated as of February 10, 2012 as amended by the First Amendment to Loan and Security Agreement dated May 31, 2012, the Second Amendment to Loan and Security Agreement dated as of
June 25, 2012, the Third Amendment to Loan and Security Agreement dated as of December 3, 2012, the Fourth Amendment to Loan and Security Agreement and Waiver dated as of April 11, 2013, and the Fifth Amendment to Loan and Security
Agreement dated as of May 15, 2013 (as amended, the “Agreement”). The parties desire to amend the Agreement, in accordance with the terms of this Amendment. 

NOW, THEREFORE, the parties agree as follows: 

1. Exhibit A to the Agreement is amended by adding (in the correct alphabetical order) or amending and restating the following defined terms
to read in their entirety as follows: 
 “‘ComSci’ means ComSci, Inc., a Delaware corporation.” 

“‘ComSci, LLC’ means ComSci, LLC, a New Jersey limited liability company.” 

“‘Guarantors’ means, collectively, Silverback Enterprise, Tenrox US, ComSci, ComSci, LLC, PowerSteering, LMR
Solutions, Marex and FileBound and each Subsidiary of a Guarantor which has executed and delivered to Bank a Guaranty and ‘Guarantor’ shall mean each individually.” 

“‘Silverback Enterprise’ means Upland Software, Inc., a Delaware corporation.” 

“‘Silverback Loan Agreement’ means that certain Loan and Security Agreement among Bank, Silverback, ComSci,
ComSci, LLC, PowerSteering, LMR Solutions, Marex and FileBound, dated as of March 5, 2012, as amended, restated, replaced or supplemented from time to time.” 

2. All references to “Visionael Corporation” shall hereafter be deleted. 

3. Section 8.12 of the Agreement is amended and restated to read in its entirety as follows: 

“8.12 Cross-Default. Silverback Enterprise, PowerSteering, ComSci, ComSci, LLC, LMR Solutions, Marex and FileBound
and any Person that becomes a co-borrower under the Silverback Loan Agreement, or any of them, default in the payment of any obligations for borrowed money from the Bank (whether by acceleration or otherwise), including, without limitation any
obligations under the Silverback Loan Agreement, and continuance thereof beyond any applicable period of cure provided with respect thereto, or in the observance or performance of any conditions, covenants or agreements related to or agreed to with
respect to any such obligations for borrowed money from the Bank, which continues beyond any applicable period of cure.” 
 4. No
course of dealing on the part of Bank or its officers, nor any failure or delay in the exercise of any right by Bank, shall operate as a waiver thereof, and any single or partial exercise of any such right shall not preclude any later exercise of
any such right. Bank’s failure at any time to require strict performance by Borrower of any provision shall not affect any right of Bank thereafter to demand strict compliance and performance. Any suspension or waiver of a right must be in
writing signed by an officer of Bank. 

 5. Unless otherwise defined, all initially capitalized terms in this Amendment shall be as
defined in the Agreement. The Agreement, as amended hereby, shall be and remains in full force and effect in accordance with its terms and hereby is ratified and confirmed in all respects. Except as expressly set forth herein, the execution,
delivery, and performance of this Amendment shall not operate as a waiver of, or as an amendment of, any right, power, or remedy of Bank under the Agreement, as in effect prior to the date hereof. 

6. Borrower represents and warrants that the Representations and Warranties contained in the Agreement are true and correct in all material
respects as of the date of this Amendment (provided, however, that those representations and warranties expressly referring to another date shall be true, correct and complete in all material respects as of such date), and that no Event of Default
has occurred and is continuing. 
 7. As a condition to the effectiveness of this Amendment, Bank shall have received, in form and substance
satisfactory to Bank, the following: 
 (a) this Amendment, executed by Borrower; 

(b) Security Agreements, executed by each of ComSci and ComSci, LLC; 

(c) Intellectual Property Security Agreements, executed by each of ComSci and ComSci, LLC; 

(d) Unconditional Guaranties, executed by each of ComSci and ComSci, LLC; 

(e) an Amendment No. 5 to Pledge and Security Agreement, executed by Silverback; 

(f) an officer’s certificate of each of ComSci and ComSci, LLC with respect to incumbency and resolutions authorizing the execution and
delivery of the Security Agreements, Unconditional Guaranties and all related documents; 
 (g) all reasonable Bank Expenses incurred through
the date of this Amendment, which may be debited from any of Borrower’s accounts; and 
 (h) such other documents, and completion of
such other matters, as Bank may reasonably deem necessary or appropriate. 
 8. This Amendment may be executed in two or more counterparts,
each of which shall be deemed an original, but all of which together shall constitute one instrument. 
 [Signatures on following page] 

 IN WITNESS WHEREOF, the undersigned have executed this Amendment as of the first date above
written. 
  

			
	TENROX INC., successor by amalgamation to Silverback Two Canada Merger Corporation 
		
	By:	 	/s/ John T. McDonald

 
			
		
	Name:	 	 John T. McDonald

			
		
	Title:	 	 President

  

			
	COMERICA BANK
		
	By:	 	/s/ Paul Gerling

 
			
		
	Name:	 	 Paul Gerling

 
			
		
	Title:	 	 Senior Vice President

 [Signature Page to Sixth Amendment to Loan and Security Agreement (3043364)] 

 SEVENTH AMENDMENT TO 

LOAN AND SECURITY AGREEMENT 

This Seventh Amendment to Loan and Security Agreement (this “Amendment”) is entered into as of March 19, 2014, between
COMERICA BANK (“Bank”) and TENROX INC., successor by amalgamation to Silverback Two Canada Merger Corporation (“Borrower”). 

RECITALS 
 Borrower and
Bank are parties to that certain Loan and Security Agreement dated as of February 10, 2012 as amended by the First Amendment to Loan and Security Agreement dated May 31, 2012, the Second Amendment to Loan and Security Agreement dated as of
June 25, 2012, the Third Amendment to Loan and Security Agreement dated as of December 3, 2012, the Fourth Amendment to Loan and Security Agreement and Waiver dated as of April 11, 2013, the Fifth Amendment to Loan and Security
Agreement dated as of May 15, 2013, and the Sixth Amendment to Loan and Security Agreement dated as of December 6, 2013 (as amended, the “Agreement”). The parties desire to amend the Agreement, in accordance with the terms
of this Amendment. 
 NOW, THEREFORE, the parties agree as follows: 

1. Exhibit A to the Agreement is amended by adding (in the correct alphabetical order) or amending and restating the following defined terms
to read in their entirety as follows: 
 “‘Clickability’ means Clickability, Inc., a Delaware
corporation.” 
 “‘FileBound’ means FileBound Solutions, Inc., a Nebraska corporation f/k/a Marex Group,
Inc., successor by merger to FileBound Solutions, Inc., a Florida corporation.” 
 “‘Guarantors’ means,
collectively, Silverback Enterprise, Tenrox US, ComSci, ComSci, LLC, PowerSteering, LMR Solutions, Clickability and FileBound and each Subsidiary of a Guarantor which has executed and delivered to Bank a Guaranty and ‘Guarantor’ shall mean
each individually.” 
 “‘Silverback Loan Agreement’ means that certain Loan and Security Agreement among
Bank, Silverback Enterprise, ComSci, ComSci, LLC, PowerSteering, LMR Solutions, Clickability and FileBound, dated as of March 5, 2012, as amended, restated, replaced or supplemented from time to time.” 

2. Section 8.12 of the Agreement is amended and restated to read in its entirety as follows: 

“8.12 Cross-Default. Silverback Enterprise, PowerSteering, ComSci, ComSci, LLC, Clickability, LMR Solutions and
FileBound and any Person that becomes a co-borrower under the Silverback Loan Agreement, or any of them, default in the payment of any obligations for borrowed money from the Bank (whether by acceleration or otherwise), including, without limitation
any obligations under the Silverback Loan Agreement, and continuance thereof beyond any applicable period of cure provided with respect thereto, or in the observance or performance of any conditions, covenants or agreements related to or agreed to
with respect to any such obligations for borrowed money from the Bank, which continues beyond any applicable period of cure.” 
 3.
Pursuant to Section 7.2 of the Agreement, Borrower may not change its name without thirty (30) days prior written notification to Bank. Borrower has informed Bank that Borrower intends to change its name not later than thirty
(30) days after the date of this Amendment (“Name Change”). Notwithstanding any provisions of the Loan Documents to the contrary, Borrower requested that Bank consent to the Name Change. Bank hereby consents to the Name Change;
provided, that, Borrower (a) provides to Bank in writing the new name of Borrower not later than seven (7) days prior to the occurrence of the Name Change, and (b) executes and/or delivers to Bank all documents that Bank shall
reasonably request in connection therewith. 

 4. No course of dealing on the part of Bank or its officers, nor any failure or delay in the
exercise of any right by Bank, shall operate as a waiver thereof, and any single or partial exercise of any such right shall not preclude any later exercise of any such right. Bank’s failure at any time to require strict performance by Borrower
of any provision shall not affect any right of Bank thereafter to demand strict compliance and performance. Any suspension or waiver of a right must be in writing signed by an officer of Bank. 

5. Unless otherwise defined, all initially capitalized terms in this Amendment shall be as defined in the Agreement. The Agreement, as amended
hereby, shall be and remains in full force and effect in accordance with its terms and hereby is ratified and confirmed in all respects. Except as expressly set forth herein, the execution, delivery, and performance of this Amendment shall not
operate as a waiver of, or as an amendment of, any right, power, or remedy of Bank under the Agreement, as in effect prior to the date hereof. 

6. Borrower represents and warrants that the Representations and Warranties contained in the Agreement are true and correct in all material
respects as of the date of this Amendment (provided, however, that those representations and warranties expressly referring to another date shall be true, correct and complete in all material respects as of such date), and that no Event of Default
has occurred and is continuing. 
 7. As a condition to the effectiveness of this Amendment, Bank shall have received, in form and substance
satisfactory to Bank, the following: 
 (a) this Amendment, executed by Borrower; 

(b) a Security Agreement, executed by Clickability; 

(c) an Intellectual Property Security Agreement, executed by Clickability; 

(d) an Unconditional Guaranty, executed by Clickability; 

(e) an Amendment No. 6 to Pledge and Security Agreement, executed by Silverback Enterprise; 

(f) Amendments to Security Agreements, executed by each of PowerSteering, ComSci, ComSci, LLC, FileBound and LMR Solutions; 

(g) an officer’s certificate of Clickability with respect to incumbency and resolutions authorizing the execution and delivery of the
Security Agreement, Unconditional Guaranty, the Intellectual Property Security Agreement and all related documents; 
 (h) all reasonable
Bank Expenses incurred through the date of this Amendment, which may be debited from any of Borrower’s accounts; and 
 (i) such other
documents, and completion of such other matters, as Bank may reasonably deem necessary or appropriate. 
 8. This Amendment may be executed
in two or more counterparts, each of which shall be deemed an original, but all of which together shall constitute one instrument. 

[Signatures on following page] 

 IN WITNESS WHEREOF, the undersigned have executed this Amendment as of the first date above
written. 
  

			
	TENROX INC., successor by amalgamation to Silverback Two Canada Merger Corporation
		
	By:	 	/s/ John T. McDonald

 
			
		
	Name:	 	 John T. McDonald

			
		
	Title:	 	 President

  

			
	COMERICA BANK
		
	By:	 	/s/ Paul Gerling

 
			
		
	Name:	 	 Paul Gerling

 
			
		
	Title:	 	 Senior Vice President

 [Signature Page to Seventh Amendment to Loan and Security Agreement (3229960)]EX-10.25

 Exhibit 10.25 

PLEDGE AND SECURITY AGREEMENT 

(Silverback Enterprise) 

This Pledge and Security Agreement (this “Agreement”) is made and entered into as of February 10, 2012 (“Closing
Date”) by and between the undersigned (“Grantor”), and COMERICA BANK (the “Bank”). 
 RECITALS

 A. Bank has agreed to make certain advances of money and to extend certain financial accommodations (the “Financial
Accommodations”) to SILVERBACK TWO CANADA MERGER CORPORATION, a corporation constituted under the Canada Business Corporations Act (“Borrower”) in the amounts and manner set forth in that certain Loan and Security
Agreement, dated as of even date herewith between Borrower and Bank (as the same may be amended, modified or supplemented from time to time, the “Loan Agreement”). 

B. Bank is willing to make the Financial Accommodations to Borrower, but only upon the condition, among others, that Grantor grant to Bank a
security interest in all of Grantor’s right title, and interest in, to and under all of the Collateral (defined below) whether presently existing or hereafter acquired. 

C. On the date hereof, Grantor will acquire 100% of the equity interests of TENROX Inc., a corporation organized under the laws of Canada (the
“Acquisition”). 
 D. Within fourteen (14) days after the date hereof, Grantor will acquire 100% of the equity
interests of (i) TENROX Inc., a Delaware corporation, and (ii) TENROX Ltd., a private company limited by shares formed under the laws of England and Wales. 

E. Borrower is a Subsidiary of Grantor and Grantor is financially interested in the affairs of Borrower, and deems it advisable, desirable,
and in the best interests of Grantor to enter into this Agreement. 
 NOW, THEREFORE, Grantor and the Bank agree as follows: 

1. Definitions. All terms used without definition in this Agreement shall have the meaning assigned to them in the Loan Agreement. All
terms used without definition in this Agreement or in the Loan Agreement shall have the meaning assigned to them in the Code. As used in this Agreement: 

(a) “Code” means the California Uniform Commercial Code, as amended or supplemented from time to time. 

(b) “Collateral” means the property described in Exhibit A attached hereto. 

(c) “Collateral Locations” means each location where any Collateral is now or hereafter located, including,
without limitation, those Collateral Locations listed in Section 13 of this Agreement. 
 (d) “Event of
Default” shall have the meaning ascribed thereto in Section 5 of this Agreement. 
 (e) “Foreign
Subsidiary” means any Subsidiary that is not a registered organization which is organized under the laws of one of the states comprising the United States (e.g. corporation, limited partnership, registered limited liability partnership or
limited liability company). 

 (f) “Grantor Obligations” means all debt, principal, interest,
Bank Expenses and other amounts owed to Bank by Grantor pursuant to this Agreement or any other agreement, including, without limitation, that certain Unconditional Guaranty dated as of even date herewith by Grantor in favor of Bank and that certain
Standby Letter of Credit No. 5647-30 in the face amount of $200,000.00, issued by Bank for the account of Grantor on or about February 3, 2012, in all cases, whether absolute or contingent, due or to become due, now existing or hereafter
arising, including any interest that accrues after the commencement of an Insolvency Proceeding and including any debt, liability, or obligation owing from Grantor to others that Bank may have obtained by assignment or otherwise. 

(g) “Insolvency Proceeding” means any proceeding commenced by or against any Person or entity under any
provision of the United States Bankruptcy Code, as amended, or under any other bankruptcy or insolvency law, including assignments for the benefit of creditors, formal or informal moratoria, compositions, extension generally with its creditors, or
proceedings seeking reorganization, arrangement, or other relief. 
 (h) “Issuer” shall have the meaning
given such term in Exhibit A attached hereto. 
 (i) “Material Adverse Effect” means a material
adverse effect on (a) the business operations, condition (financial or otherwise) of Grantor and its Subsidiaries taken as a whole, (b) the ability of Grantor to repay the Grantor Obligations or otherwise perform its obligations under the
Loan Documents, or (c) Grantor’s interest in, or the value, perfection or priority of Bank’s security interest in the Collateral. 

(j) “Obligations” shall have the meaning given such term in the Loan Agreement. 

(k) “Permitted Indebtedness” means: 

(i) Indebtedness of Grantor in favor of Bank; 

(ii) Indebtedness existing on the Closing Date and disclosed in the Schedule; 

(iii) Indebtedness not to exceed One Hundred Thousand Dollars ($100,000) in the aggregate in any fiscal year of Grantor secured by a lien
described in clause (ii) of the defined term “Permitted Liens,” provided such Indebtedness does not exceed the lesser of the cost or fair market value of the equipment financed with such Indebtedness; 

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

(v) Indebtedness of Grantor or its Subsidiaries permitted under clauses (iv) and (v) of the defined term “Permitted
Investments”; 
 (vi) Indebtedness consisting of the endorsement of negotiable instruments for deposit or collection or similar
transactions in the ordinary course of business; 
 (vii) Indebtedness incurred in connection with corporate credit cards; provided that
the aggregate limit of all such cards does not exceed Fifty Thousand Dollars ($50,000) at any time; 
 (viii) Unsecured Indebtedness from
John T. McDonald, in an aggregate amount not to exceed One Million Five Hundred Thousand Dollars ($1,500,000); and 
 (ix) Extensions,
refinancings and renewals of any items of Permitted Indebtedness, provided that the principal amount is not increased or the terms modified to impose more burdensome terms upon Grantor or its Subsidiary, as the case may be. 

  
 2 

 (l) “Permitted Investment” means: 

(i) Investments existing on the Closing Date and disclosed in the Schedule; 

(ii)(a) Marketable direct obligations issued or unconditionally guaranteed by the United States of America or any agency or any State thereof
maturing within one (1) year from the date of acquisition thereof, (b) commercial paper maturing no more than one (1) year from the date of creation thereof and currently having rating of at least A-2 or P-2 from either
Standard & Poor’s Corporation or Moody’s Investors Service, (c) Bank’s or Bank’s Affiliates certificates of deposit maturing no more than one (1) year from the date of investment therein, and
(d) Bank’s or Bank’s Affiliates money market accounts; 
 (iii) Investments accepted in connection with Permitted Transfers;

 (iv) Investments of Grantor and/or its Subsidiaries in or to Guarantors that are also borrowers of Bank; 

(v) Investments of Grantor and/or its Subsidiaries in or to Subsidiaries that are not both Guarantors and borrowers of Bank, not to exceed
One Hundred Thousand Dollars ($100,000) in the aggregate in any fiscal year; 
 (vi) Investments (other than Investments consisting of
loans) of Grantor in Borrower; 
 (vii) Investments that are loans and debt obligations of Grantor in or to Borrower in an unlimited
amount, so long as such Investments are unsecured and are subordinated to the Secured Obligations under a subordination agreement and on terms and conditions acceptable to Bank; 

(viii) Investments not to exceed One Hundred Thousand Dollars ($100,000) in the aggregate in any fiscal year consisting of (a) travel
advances and employee relocation loans and other employee loans and advances in the ordinary course of business, and (b) loans to employees, officers or directors relating to the purchase of equity securities of Grantor or its Subsidiaries
pursuant to employee stock purchase plan agreements approved by Grantor’s Board of Directors; 
 (ix) 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 Grantor’s
business; 
 (x) 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 subparagraph (vii) shall not apply to Investments of Grantor in any Subsidiary; and 

(xi) Joint ventures or strategic alliances in the ordinary course of Grantor’s business consisting of the non-exclusive licensing of
technology, the development of technology or the providing of technical support, provided that any cash Investments by Grantor do not exceed One Hundred Thousand Dollars ($100,000) in the aggregate in any fiscal year. 

(m) “Permitted Liens” means the following: 

(i) Any Liens existing on the Closing Date and disclosed in the Schedule or arising under this Agreement or the other Loan Documents; 

  
 3 

 (ii) Liens for taxes, fees, assessments or other governmental charges or levies, either not
delinquent or being contested in good faith by appropriate proceedings and for which Grantor maintains adequate reserves, provided the same have no priority over any of Bank’s security interests; 

(iii) Liens securing obligations not to exceed One Hundred Thousand Dollars ($100,000) in the aggregate (a) upon or in any Equipment
acquired or held by Grantor or any of its Subsidiaries to secure the purchase price of such Equipment or indebtedness incurred solely for the purpose of financing the acquisition or lease of such Equipment, or (b) existing on such Equipment at
the time of its acquisition, provided that the Lien is confined solely to the property so acquired and improvements thereon, and the proceeds of such Equipment; 

(iv) Liens incurred in connection with the extension, renewal or refinancing of the indebtedness secured by Liens of the type described in
clauses (i) and (ii) above, provided that any extension, renewal or replacement Lien shall be limited to the property encumbered by the existing Lien and the principal amount of the indebtedness being extended, renewed or refinanced does
not increase; 
 (v) Liens arising from judgments, decrees or attachments in circumstances not constituting an Event of Default under
Sections 8.5 (attachment) of the Loan Agreement or 8.9 (judgments) of the Loan Agreement; 
 (vi) Until Grantor’s accounts are opened
at Bank in accordance with Section 4(n) of this Agreement, Liens in favor of other financial institutions arising in connection with Grantor’s accounts held at such institutions to secure standard fees for deposit services charged by, but
not financing made available by such institutions; 
 (vii) carriers, warehousemen’s, mechanics’, materialmen’s,
repairmen’s or other like Liens arising in the ordinary course of business which are not overdue for a period of more than 30 days or which are being contested in good faith and by appropriate proceedings if adequate reserves with respect
thereto are maintained on the books of the applicable Person; 
 (viii) deposits to secure the performance of bids, trade contracts (other
than for borrowed money), contracts for the purchase of property, leases, statutory obligations, surety and appeal bonds, performance bonds and other obligations of a like nature, in each case, incurred in the ordinary course of business and not
representing an obligations for borrowed money; 
 (ix) Liens on insurance proceeds securing the payment of financed insurance premiums;
and 
 (x) Liens in favor of customs and revenue authorities arising as a matter of law to secure payments of custom duties in connection
with the importation of goods. 
 (n) “Permitted Transfer” means the conveyance, sale, lease, license,
transfer or disposition by Grantor or any Subsidiary of: 
 (i) Inventory in the ordinary course of business; 

(ii) Non-exclusive licenses and similar arrangements for the use of the property of Grantor in the ordinary course of business; 

(iii) Worn-out or obsolete Equipment; 

  
 4 

 (iv) Other assets of Grantor that do not in the aggregate exceed One Hundred Thousand Dollars
($100,000) during any fiscal year; or 
 (v) Transfers that constitute a Permitted Lien or Permitted Investment. 

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

(p) “Pledged Interests” shall have the meaning given such term in Exhibit A attached hereto. 

(q) “Schedule” means the schedule of exceptions attached hereto and approved by Bank, if any. 

(r) “Secured Obligations” means collectively, the Obligations and the Grantor Obligations. 

(s) “Securities Laws” means the Securities Act of 1933, as amended, and applicable state securities laws.

 (t) “Subsidiary” means any corporation, partnership or limited liability company or joint venture in
which (i) any general partnership interest or (ii) more than 50% of the stock, limited liability company interest or joint venture of which by the terms thereof ordinary voting power to elect the Board of Directors, managers or trustees of
the entity, at the time as of which any determination is being made, is owned by Grantor, either directly or through an Affiliate. 

(u) “Visionael Sweden” means Visionael ApS (Sweden). 

2. Grant of Security Interest. 

(a) To secure all of the Secured Obligations, Grantor grants to the Bank a continuing security interest in the Collateral, now
existing or hereafter acquired. Except for Permitted Liens that are not required to be subordinate to Bank’s Liens, such security interest constitutes a valid, first priority security interest in the presently existing Collateral, and will
constitute a valid, first-priority security interest in later acquired Collateral. Grantor authorizes Bank to file at any time financing statements, continuation statements, and amendments thereto that (i) either specifically describe the
Collateral or describe the Collateral as all assets of Grantor of the kind pledged hereunder, and (ii) contain any other information required by the Code for the sufficiency of filing office acceptance of any financing statement, continuation
statement, or amendment, including whether Grantor is an organization, the type of organization and any organizational identification number issued to Grantor, if applicable. Any such financing statements may be filed by Bank at any time in any
jurisdiction. 
 (b) Notwithstanding the foregoing, the security interest granted by Grantor over the Pledged Interests
where the Issuer is a Foreign Subsidiary, shall: 
 (i) Be limited to a pledge of 65% (or such lesser percentage owned by Grantor) of the
aggregate issued and outstanding voting equity interests of such Issuer (determined based on the total voting rights represented by such equity interests) to secure the Grantor Obligations; and 

(ii) Be a pledge of 100% of the aggregate issued and outstanding equity interests of such Issuer to secure the Obligations (provided, that
notwithstanding anything herein to the contrary, in no event shall there be a pledge of more than 65% of the total voting power of such Issuer to secure an obligation which is considered an “obligation of a United States person” within the
meaning of Treasury Regulation Section 1.956-2(c)). 

  
 5 

 3. Grantor’s Representations and Warranties. Grantor represents and warrants as follows: 

(a) Authorization. Grantor has authority and has obtained all approvals and consents necessary to enter into this
Agreement, and Grantor’s execution, delivery and performance of this Agreement will not violate or conflict with the terms of Grantor’s Certificate of Incorporation, Bylaws or other charter document, or any material law, any material
agreement, or other material instrument or writing to which Grantor is party or by which is it bound. 
 (b) Title.
The Collateral is owned by Grantor and is free of all liens, encumbrances and other security interests, except for (a) liens, encumbrances and other security interests in favor of Bank, (b) Permitted Liens and (c) restrictions on
transfer imposed by the Securities Laws. 
 (c) Solvency, Payment of Debts. Grantor is solvent and able to pay its
debts (including trade debts) as they mature. 
 (d) Further Representations. Grantor further represents, warrants,
and covenants that (i) Grantor is not in default under any agreement under which Grantor owes any money, or any agreement, the violation or termination of which could have a Material Adverse Effect on Grantor; (ii) the information provided
to Bank on or prior to the date of this Agreement is true and correct in all material respects; (iii) all financial statements and other information provided to Bank fairly present Grantor’s financial condition, and there has not been a
change in the financial condition of Grantor since the date of the most recent of the financial statements submitted to Bank which could have a Material Adverse Effect; (iv) Grantor is in compliance with all material laws and orders applicable
to it; (v) Grantor is not party to any litigation, an adverse determination of which could reasonably be expected to have a Material Adverse Effect, and is not the subject of any government investigation, and Grantor has no knowledge of any
pending litigation or investigation; (vi) Grantor’s principal place of business is located at the address specified in Section 13; and (vii) no representation or other statement made by Grantor to Bank contains any untrue
statement of a material fact or omits to state a material fact necessary to make any statements made to Bank not misleading. 

(e) Pledged Interests. Grantor further represents, warrants, and covenants that: 

(i) Grantor has taken all steps it deems necessary or appropriate to be informed on a continuing basis of changes or potential changes
affecting the Pledged Interests (including rights of conversion and exchange, rights to subscribe, payment of dividends, reorganizations or recapitalization, tender offers and voting rights), and agrees that Bank shall have no responsibility or
liability for informing Grantor of any such changes or potential changes or for taking any action or omitting to take any action with respect thereto; 

(ii) Schedule 3(e) to this Agreement is true and correct and complete in all material respects; without limiting the generality of the
foregoing: (i) the Pledged Interests are represented by the security certificates identified on Schedule 3(e) to this Agreement, (ii) all the Pledged Interests, except to the extent registered in the name of Bank or its nominee
pursuant to the provisions of this Agreement, are registered on the books of the applicable Issuer in the name of such Grantor; and (iii) the Pledged Interests of Issuer constitute at least the percentage of all equity interests of such Issuer
as set forth in Schedule 3(e) to this Agreement; 
 (iii) The Pledged Interests have been duly authorized and validly issued,
constitute all the issued and outstanding equity interests of Visionael Corporation, a Delaware corporation, TENROX Inc., a Delaware corporation, TENROX Inc., a Canadian corporation and TENROX Ltd., a United Kingdom corporation, as applicable, are
freely and validly assignable by Grantor, and are not subject to any option, warrant right to call or commitment of any kind or nature; and 

(iv) Neither the pledge of the Pledged Interests pursuant to this Agreement nor the extensions of credit represented by the Secured
Obligations violates Regulation T, U or X of the Board of Governors of the Federal Reserve System. 

  
 6 

	4.	Covenants. 

 (a) Encumbrances. Grantor shall not (i) grant a
security interest in any of the Collateral other than security interests in favor of Bank and security interests granted in connection with Permitted Liens, or (ii) execute any financing statements covering any of the Collateral in favor of any
person other than Bank and in connection with Permitted Liens. 
 (b) Use of Collateral. The Collateral will not be
used for any unlawful purpose or in any way that will void any insurance required to be carried in connection therewith. Grantor will keep the Collateral free and clear of liens (other than Permitted Liens and restrictions created under this
Agreement) and will keep it in good condition, ordinary wear and tear excepted. 
 (c) Indemnification. Grantor shall
indemnify Bank against all losses, claims, demands and liabilities of any kind caused by the Collateral, except to the extent that such losses, claims, demands and liabilities are caused by Bank’s gross negligence or willful misconduct. 

(d) Perfection of Security Interest. Grantor shall execute and deliver such documents as Bank reasonably deems
necessary to create, perfect and continue the first priority security interest in the Collateral. 
 (e) Insurance of
Collateral. 
 (i) Grantor, at its expense, shall keep the Collateral insured against loss or damage by fire, theft, explosion,
sprinklers, and all other hazards and risks, and in such amounts, as ordinarily insured against by other owners in similar businesses conducted in the locations where Grantor’s business is conducted on the date hereof. Grantor shall also
maintain liability and other insurance in amounts and of a type that are customary to businesses similar to Grantor’s. 
 (ii) All
policies of insurance shall be in such form, with such companies, and in such amounts as reasonably satisfactory to Bank. All policies of property insurance shall contain a lender’s loss payable endorsement, in a form satisfactory to Bank,
showing Bank as an additional loss payee, and all liability insurance policies shall show Bank as an additional insured and specify that the insurer must give at least 20 days notice to Bank before canceling its policy for any reason, with the
exception of for non-payment of premium. Grantor shall immediately provide Bank with copies of any notices of policy cancellation Grantor receives from an insurer. Upon Bank’s request, Grantor shall deliver to Bank certified copies of the
policies of insurance and evidence of the payments of all premiums. If no Event of Default has occurred and is continuing, proceeds payable under any casualty policy will, at Grantor’s option, be payable to Grantor to replace the property
subject to the claim or otherwise acquire property useful to the business of Grantor, provided that if such property constituted Collateral, any such replacement property shall be deemed Collateral in which Bank has been granted a first priority
security interest, subject to Permitted Liens that are not required to be subordinate to Bank’s Liens. If an Event of Default has occurred and is continuing, all proceeds payable under any such policy, to the extent that such proceeds
constitute Collateral, shall, at the option of Bank, be payable to Bank to be applied on account of the Secured Obligations. 

(f) Inventory and Equipment. 

(i) Grantor shall not store its Inventory or the Equipment with an aggregate book value in excess of Two Hundred Fifty Thousand Dollars
($250,000) with a bailee, warehouseman, or other third party unless the third party has been notified of Bank’s security interest and Bank (a) has received an acknowledgment from the third party that it is holding or will hold the
Inventory or Equipment for Bank’s benefit or (b) is in pledge possession of the warehouse receipt, where negotiable, covering such Inventory or Equipment; provided, however, that the aggregate book value of all Equipment and Inventory at
all locations not subject to the foregoing requirements shall not exceed Five Hundred Thousand Dollars ($500,000) at any time. Except for Inventory sold in the ordinary course of business and movable items of personal property such as laptop
computers and except for such other locations as Bank may approve in writing, Grantor shall not store or maintain any Equipment or Inventory at a location other than the location set forth in Section 13 of this Agreement. 

  
 7 

 (ii) Grantor shall maintain the Collateral in good and saleable condition, repair it (if
necessary) and otherwise deal with the Collateral in all such ways as are considered good practice by owners of like property, use it lawfully and only as permitted by insurance policies, and permit Bank to inspect the Collateral upon reasonable
prior notice, from time to time during Grantor’s usual business hours but no more than once a year (unless an Event of Default has occurred and is continuing). 

(iii) Grantor shall not sell, contract to sell, lease, encumber or transfer the Collateral (other than the disposition of Inventory in the
ordinary course of Grantor’s business and other assets which are obsolete or otherwise considered surplus, in connection with Permitted Liens and in connection with Permitted Transfers) until the Secured Obligations have been paid or performed
in full. Grantor acknowledges and agrees that Bank has a security interest in the proceeds of such Collateral. 
 (g)
Accounts, Chattel Paper and General Intangibles. As to Collateral which are Accounts, Chattel Paper, General Intangibles and Proceeds, Grantor warrants, represents and agrees: 

(i) All such Collateral is genuine, enforceable in accordance with its terms and conditions precedent (except as disclosed to and accepted by
Bank in writing). Grantor will supply Bank with duplicate invoices or other evidence of Grantor’s rights on Bank’s request. 

(ii) To the best of Grantor’s knowledge, all persons appearing to be obligated on such Collateral have authority and capacity to
contract. 
 (iii) Grantor will mark conspicuously all Chattel Paper with a legend, in form and substance satisfactory to Bank, indicating
that such Chattel Paper is subject to the security interests of Bank and will, upon Bank’s request after the occurrence of an Event of Default, deliver possession thereof to Bank. 

(iv) Grantor agrees that following the occurrence and during the continuance of an Event of Default, Grantor shall not compromise, settle or
adjust any Account or renew or extend the time of payment thereof without Bank’s prior written consent. 
 (v) Until Bank exercises
its rights to collect the Accounts pursuant hereto, Grantor will collect with diligence all Grantor’s Accounts. Any collection of Accounts by Grantor, whether in the form of cash, checks, notes, or other instruments for the payment of money
(properly endorsed or assigned where required to enable Bank to collect same), shall be in trust for Bank. If an Event of Default has occurred and is continuing, Grantor shall keep all such collections separate and apart from all other funds and
property so as to be capable of identification as the property of Bank and deliver said collections daily to Bank in the identical form received. The proceeds of such collections when received by Bank may be applied by Bank directly to the payment
of the Secured Obligations. Any credit given by Bank upon receipt of said proceeds shall be conditional credit subject to collection. Returned items at Bank’s option may be charged to the Grantor. All collections of the Accounts shall be set
forth on an itemized schedule, showing the name of the account debtor, the amount of each payment and such other information as Bank may request. 

  
 8 

 (vi) Until Bank exercises its rights to collect the Accounts pursuant hereto, Grantor may
continue its present policies with respect to returned merchandise and adjustments. However, Grantor shall promptly, and in any event within three (3) Business Days, notify Bank of all cases involving repossessions, and material loss or damage
of or to merchandise represented by the Accounts. 
 (h) Binding Agreement. Anything herein to the contrary
notwithstanding, (i) Grantor shall remain liable under the contracts and agreements included in the Collateral to the extent set forth therein to perform all of its duties and obligations thereunder to the same extent as if this Agreement had
not been executed; (ii) the exercise by Bank of any of the rights granted hereunder shall not release Grantor from any of its duties or obligations under the contracts and agreements included in the Collateral; and (iii) Bank shall not
have any obligation or liability under the contracts and agreements included in the Collateral by reason of this Agreement, nor shall Bank be obligated to perform any of the obligations or duties of Grantor thereunder or to take any action to
collect or enforce any claim for payment assigned hereunder. 
 (i) Pledged Interests. 

(i) Within fourteen (14) days after the Closing Date, all certificates or instruments, if any, representing or evidencing the Pledged
Interests, together with certificates of assignments for such certificates or instruments, executed in blank, and any additional Pledged Interests pledged to Bank shall be delivered by Grantor to Bank or Bank’s designee pursuant hereto at a
location designated by Bank and shall be held by or on behalf of Bank pursuant hereto, and shall be in suitable form for transfer by delivery, or shall be accompanied by duly executed instruments of transfer or assignment in blank, all in form and
substance satisfactory to Bank, and, the case of additional Pledged Interests pledged to Bank, shall be accompanied by an addendum to Schedule 3(e), identifying the Pledged Interests comprising any such additional Collateral and the issuers
thereof. 
 (ii) Bank shall have the right at any time to exchange certificates or instruments representing or evidencing Pledged Interests
for certificates or instruments of smaller or larger denominations. 
 (iii) If, at any time and from time to time, any Pledged Interests
(including any certificate or instrument representing or evidencing any Pledged Interests) is in the possession of a Person other than Bank or the Grantor (each, a “Holder”), then Grantor shall promptly, but in any event within
three (3) Business Days, at Bank’s option, either cause such Pledged Interests to be delivered into Bank’s possession, or execute and deliver to such Holder a written notification/instruction, and take all other steps necessary to
perfect the security interest of Bank in such Pledged Interests, including obtaining from such Holder a written acknowledgement that such Holder holds such Pledged Interests for Bank, all pursuant to the Code or other applicable law governing the
perfection of Bank’s security interest in the Pledged Interests in the possession of such Holder. Each such notification/instruction and acknowledgement shall be in form and substance satisfactory to Bank. 

(iv) Any and all Pledged Interests (including dividends, interest, and other cash distributions) at any time received or held by Grantor
shall be so received or held in trust for Bank, shall be segregated from other funds and property of Grantor and shall be forthwith delivered to Bank in the same form as so received or held, with any necessary endorsements; provided that cash
dividends or distributions received by Grantor, if and to the extent they are not prohibited by this Agreement, may be retained by Grantor in accordance with Section 4(i)(v) below, and used in the ordinary course of Grantor’s business.

  
 9 

 (v) So long as no Event of Default shall have occurred and be continuing, Grantor shall be
entitled to exercise any and all voting and other consensual rights pertaining to the Pledged Interests or any part thereof for any purpose not inconsistent with the terms of the Loan Documents and shall be entitled to receive and retain any cash
dividends or distributions paid in respect of the Pledged Interests. 
 (vi) If at any time and from time to time any Pledged Interests
consists of an uncertificated security or a security in book entry form, then Grantor shall promptly, but in any event within three (3) Business Days, cause such Pledged Interests to be registered or entered, as the case may be, in the name of
Bank, or otherwise cause Bank’s security interest thereon to be perfected in accordance with applicable law. 
 (vii) Upon the
occurrence and during the continuance of a Default or Event of Default, all rights of Grantor to exercise the voting and other consensual rights or receive and retain cash dividends or distributions that it would otherwise be entitled to exercise or
receive and retain, as applicable pursuant to Section 4(i)(v) shall cease, and all such rights shall thereupon become vested in Bank, who shall thereupon have the sole right to exercise such voting or other consensual rights and to receive and
retain such cash dividends and distributions. Grantor shall execute and deliver (or cause to be executed and delivered) to Bank all such proxies and other instruments as Bank may reasonably request for the purpose of enabling Bank to exercise the
voting and other rights which it is entitled to exercise and to receive the dividends and distributions that it is entitled to receive and retain pursuant to the preceding sentence. 

(j) Instruments. Grantor will deliver and pledge to Bank all Instruments that are part of the Collateral duly endorsed
and accompanied by duly executed instruments of transfer or assignment, all in form and substance reasonably satisfactory to Bank. 

(k) Records. Grantor shall prepare and keep, in accordance with generally accepted accounting principles consistently
applied, complete and accurate records regarding the Collateral in all material respects and, if and when requested by Bank, shall prepare and deliver a complete and accurate schedule of all the Collateral in such detail as Bank may reasonably
require. 
 (l) Inspection of Grantor’s Books. Grantor shall permit Bank or its designee at reasonable times and
from time to time, but not more than once a year, to inspect Grantor’s books, records and properties and to audit and to make copies of extracts from such books and records. 

(m) Fees and Costs. Grantor shall pay all expenses, including reasonable attorneys’ fees, incurred by Bank in the
preservation, realization, enforcement or exercise of any of Bank’s rights under this Agreement and in the establishment, determination, continuation or defense of the validity or priority of Bank’s security interest under this Agreement.

 (n) Accounts. Within ninety (90) days after the Closing Date, Grantor shall maintain and shall cause each of
its Subsidiaries to maintain their depository and operating accounts with Bank and their investment accounts with Bank’s Affiliates covered by a control agreement in form and substance reasonably acceptable to Bank. 

(o) Corporate Existence. Grantor will maintain its corporate existence and good standing and will maintain in force all
licenses and agreements, the loss of which could have a material adverse effect on Grantor’s business. Grantor will timely pay all material taxes and will comply with all laws and orders applicable to it except where the failure to comply is
not reasonably expected to have a Material Adverse Effect. 

  
 10 

 (p) Negative Covenants. Grantor will not (i) make any investments in,
or loans or advances to, any person other than in the ordinary course of business as currently conducted, other than Permitted Investments, (ii) acquire any assets other than in the ordinary course of business as currently conducted,
(iii) make any distributions or pay any dividends to any person on account of Grantor’s shares, except that Grantor may (A) repurchase the stock of former employees, directors and consultants pursuant to stock repurchase agreements in
an aggregate amount not to exceed One Hundred Thousand Dollars ($100,000) during any fiscal year as long as an Event of Default does not exist prior to such repurchase or would not exist after giving effect to such repurchase, (B) repurchase
the stock of former employees, directors and consultants pursuant to stock repurchase agreements by the cancellation of indebtedness owed by such former employees to Grantor regardless of whether an Event of Default exists, (C) pay dividends in
equity securities, (D) convert any of its convertible securities (including warrants) into other securities pursuant to the terms of such convertible securities and (E) make cash payments in lieu of the issuance of fractional shares,
provided that the aggregate amount of such payments made during a fiscal year, when added to the aggregate amount of payments made under clause (A) above during such fiscal year, does not exceed One Hundred Thousand Dollars ($100,000),
(iv) borrow any money except (A) in the ordinary course of business as currently conducted and (B) Permitted Indebtedness, (v) move, dispose of or encumber any portion of its assets, except for (A) dispositions of inventory
in the ordinary course of Grantor’s business, (B) Permitted Liens and (C) Permitted Transfers, (vi) merge or consolidate with or into any person or entity, (vii) create, incur, assume or suffer to exist any lien (other than
liens in favor of Bank and Permitted Liens) with respect to any of its property, or assign or otherwise convey any right to receive income, including the sale of any of Grantor’s accounts, (viii) except for Inventory sold in the ordinary
course of business and movable items of personal property such as laptop computers and except for such other locations as Bank may approve in writing, keep Inventory or Equipment at a location other than the address specified in Section 13
hereof; (ix) relocate its chief executive office or state of incorporation without thirty (30) days prior written notice to Bank, or (x) or, subject to Section 4(n), maintain or invest any of its property consisting of deposit
accounts or securities accounts with a Person other than Bank or Bank’s Affiliates subject to a control agreement or permit any of its Subsidiaries to do so unless such Person has entered into an account control agreement with Bank in form and
substance reasonably satisfactory to Bank, or suffer or permit any Subsidiary to be a party to, or be bound by, an agreement that restricts such Subsidiary from paying dividends or otherwise distributing property to Grantor. Notwithstanding anything
to the contrary in the foregoing, Grantor shall be permitted to transfer to Visionael Sweden not more than Two Hundred Thousand Dollars ($200,000) during Grantor’s fiscal year ending December 31, 2012. 

(q) Further Assurances. At any time and from time to time, upon the written request of Bank, and at the sole expense of
Grantor, Grantor shall promptly and duly execute and deliver any and all such further instruments and documents and take such further action as Bank may reasonably deem desirable to obtain the full benefits of this Agreement and of the rights and
powers herein granted, including, without limitation, (i) to secure all consents and approvals necessary or appropriate for the grant of a security interest to Bank in any Collateral held by Grantor or in which Grantor has any rights not
heretofore assigned, (ii) filing any financing or continuation statements under the Code with respect to the security interests granted hereby, (iii) transferring Collateral to Bank’s possession (if a security interest in such
Collateral can be perfected by possession), (iv) placing the interest of Bank as lienholder on the certificate of title (or other evidence of ownership) of any vehicle owned by Grantor or in or with respect to which Grantor holds a beneficial
interest and (v) obtaining, for each Collateral Location with Collateral with an aggregate book value in excess of Two Hundred Fifty Thousand Dollars ($250,000) that is not owned by Grantor, a landlord subordination agreement, collateral access
agreement or bailment waiver, executed by the landlord, warehouseman or bailee of such location, as applicable, together with a copy of the lease, warehouse or bailment agreement for each such location; provided, however, the aggregate book value of
Collateral at Collateral Locations not subject to the foregoing requirements shall not exceed Five Hundred Thousand Dollars ($500,000). Grantor also hereby authorizes Bank to file any such financing or continuation statement. If any amount payable
under or in connection with any of the Collateral is or shall become evidenced by any Instrument, such Instrument, other than checks and notes received in the ordinary course of business, shall be duly endorsed in a manner reasonably satisfactory to
Bank and delivered to Bank promptly upon Grantor’s receipt thereof. 

  
 11 

 (r) Minimum Cash. On February 22, 2012, and at all times thereafter,
Grantor shall maintain a balance of Grantor’s unrestricted cash and cash equivalents at Bank of not less Five Hundred Thousand Dollars ($500,000). 

(s) Evidence of Mergers. Within fourteen (14) days after the Closing Date, Grantor shall provide, or cause to be
provided, to Bank, evidence in form and detail acceptable to Bank in Bank’s reasonable discretion that Grantor acquired 100% of the equity interests of (i) TENROX Inc., a Delaware corporation, and (ii) TENROX Ltd., a private company
limited by shares formed under the laws of England and Wales. 
 5. Events of Default. The occurrence of any Event of Default under
the Loan Agreement or Grantor’s breach of any term provision, covenant warranty or representation under this Agreement, or under any other document, instrument or agreement entered into between Grantor and Bank, as the same may be amended
modified or supplemented from time to time, shall constitute an “Event of Default” under this Agreement. 
 6. Remedies.
Upon the occurrence and during the continuance of an Event of Default, Bank shall have all rights, privileges, powers and remedies provided by law, including, but not limited to, exercise of any or all of the following remedies only during the
continuance of an Event of Default. 
 (a) Bank may declare all Secured Obligations to be immediately due and payable, and
thereupon all such amounts shall be and become immediately due and payable to the Bank. 
 (b) Bank may dispose of the
Collateral in accordance with applicable law. 
 (c) Bank may use, operate, consume and sell the Collateral in its
possession as appropriate for the purpose of performing Grantor’s obligations with respect thereto to the extent necessary to satisfy the obligations of Grantor. 

(d) Bank may transfer to or to register on the books of any Issuer (or of any other Person maintaining records with respect to
the Pledged Interests) in the name of Bank or any of its nominees any or all of the Pledged Interests. 
 (e) All payments
received and amounts realized by Bank shall be promptly applied and distributed by the Bank in the following order of priority: 

(i) first, to the payment of all costs and expenses, including legal expenses and reasonable attorneys fees, incurred or made
hereunder by Bank, including any such costs and expenses of foreclosure or suit, if any, and of any sale or the exercise of any other remedy under this Section 6, and of all taxes, assessments or liens superior to the lien granted under this
Agreement; and 
 (ii) second, to the payment to Bank of the amount then owing under the Secured Obligations; and 

(iii) third, to Grantor, to the extent permitted under applicable law. 

  
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 7. Sale of Pledged Interests. 

(a) Grantor acknowledges that the sale by Bank of any Pledged Interests pledged by it pursuant to the terms hereof in
compliance with the Securities Laws may require strict limitations as to the manner in which Bank or any subsequent transferee of the Pledged Interests may dispose thereof. Grantor acknowledges and agrees that in order to protect Bank’s
interest it may be necessary to sell the Pledged Interests at a price less than the maximum price attainable if a sale were delayed or were made in another manner, such as a public offering under the Securities Laws. Grantor has no objection to any
sale in such a manner and agrees that Bank shall have no obligation to obtain the maximum possible price for the Pledged Interests. Without limiting the generality of the foregoing, Grantor agrees that, upon the occurrence and during the
continuation of an Event of Default, Bank may, subject to applicable law, from time to time attempt to sell all or any part of the Pledged Interests by a private placement, restricting the bidders and prospective purchasers to those who will
represent and agree that they are purchasing for investment only and not for distribution. In so doing, Bank may solicit offers to buy the Pledged Interests or any part thereof for cash, from a limited number of investors deemed by Bank, in its
reasonable judgment, to be institutional investors or other responsible parties who might be interested in purchasing the Pledged Interests. If Bank shall solicit such offers in accordance with the terms hereof and applicable Securities Laws, then
the acceptance by Bank of one of the offers shall be deemed to be a commercially reasonable method of disposition of the Pledged Interests. 

(b) If Bank shall determine to exercise its right to sell all or any portion of the Pledged Interests pursuant to this
Section, Grantor agrees that, upon request of Bank, Grantor will, at its own expense, as applicable, execute and deliver to Bank or other Person, as directed by Bank, or cause the officers and directors of Issuer to execute and deliver, any and all
documents and instruments which, in Bank’s reasonable judgment, may be necessary or appropriate in order to transfer or to more effectively transfer the Pledged Interests or otherwise enforce Bank’s rights hereunder. 

8. Power of Attorney. Effective only upon the occurrence and during the continuance of an Event of Default, Grantor hereby irrevocably
appoints Bank (and any of Bank’s designated officers, or employees) as Grantor’s true and lawful attorney to: (a) send requests for verification of Accounts or notify account debtors of Bank’s security interest in the Accounts;
(b) endorse Grantor’s name on any checks or other forms of payment or security that may come into Bank’s possession; (c) sign Grantor’s name on any invoice or bill of lading relating to any Account, drafts against account
debtors, schedules and assignments of Accounts, verifications of Accounts, and notices to account debtors; (d) dispose of any Collateral; (e) make, settle, and adjust all claims under and decisions with respect to Grantor’s policies
of insurance; (f) settle and adjust disputes and claims respecting the accounts directly with account debtors, for amounts and upon terms which Bank determines to be reasonable; (g) file Grantor’s tax returns and related documents
with the appropriate governmental authority; (h) enter into a short-form intellectual property security agreement consistent with the terms of this Agreement for recording purposes only or modify, in its sole discretion, any intellectual
property security agreement entered into between Grantor and Bank without first obtaining Grantor’s approval of or signature to such modification by amending the exhibits or schedules thereof, as appropriate, to include reference to any right,
title or interest in any Copyrights, Patents, Trademarks or other intellectual property collateral acquired by Grantor after the execution hereof or to delete any reference to any right, title or interest in any Copyrights, Patents, Trademarks or
other Intellectual Property Collateral in which Grantor no longer has or claims to have any right, title or interest; and (i) file, in its sole discretion, one or more financing statements, financing change statements or continuation statements
and amendments thereto, relative to any of the Collateral without the signature of Grantor where permitted by law; provided Bank may exercise such power of attorney to sign the name of Grantor on any of the documents described in clauses
(h) and (i) above, regardless of whether an Event of Default has occurred. The appointment of Bank as Grantor’s attorney in fact, and each and every one of Bank’s rights and powers, being coupled with an interest, is irrevocable
until all of the Secured Obligations have been fully repaid and performed and Bank’s obligation to provide advances hereunder is terminated. 

9. Remedies Cumulative. Bank’s rights and remedies under this Agreement, the Loan Documents, and all other agreements shall be
cumulative. Bank shall have all other rights and remedies not inconsistent herewith as provided under the Code, by law, or in equity. No exercise by Bank of one right or remedy shall be deemed an election, and no waiver by Bank of any Event of
Default on Borrower’s part shall be deemed a continuing waiver. No delay by Bank shall constitute a waiver, election, or acquiescence by it. No waiver by Bank shall be effective unless made in a written document signed on behalf of Bank and
then shall be effective only in the specific instance and for the specific purpose for which it was given. 

  
 13 

 10. Amendment of Loan Documents. Grantor authorizes Bank, without notice or demand and
without affecting its liability hereunder, from time to time to (a) renew, extend, or (with the approval of Borrower) otherwise change the terms of any Loan Document, or any part thereof; (b) take and hold security for the payment of any
Loan Document, and exchange, enforce, waive and release any such security; and (c) apply such security and direct the order or manner of sale thereof as Bank in its sole discretion may determine. 

11. Grantor Waivers. Grantor waives any right to require Bank to (a) proceed against Borrower, any guarantor or any other person;
(b) proceed against or exhaust any security held from Borrower; (c) marshal any assets of Borrower; or (d) pursue any other remedy in Bank’s power whatsoever. Bank may, at its election, release, exchange, modify, enforce and
otherwise exercise or decline or fail to exercise any right or remedy it may have against Borrower, any guarantor or any security held by Bank, including without limitation the right to foreclose upon any such security by judicial or nonjudicial
sale, without affecting or impairing in any way the liability of Grantor hereunder. Grantor is not relying upon any guaranty which Bank has or may have or assets in which Bank has or may have a lien or security interest for payment of the Secured
Obligations. Grantor agrees that no security or guaranty now or later held by Bank for the payment of any Secured Obligations, whether from Borrower, any guarantor, or otherwise, and whether in the nature of a security interest, pledge, lien,
assignment, setoff, suretyship, guaranty, indemnity, insurance or otherwise, shall affect in any manner the unconditional pledge of Grantor under this Agreement. Grantor waives any defense arising by reason of any disability or other defense of
Borrower or by reason of the cessation from any cause whatsoever of the liability of Borrower. Grantor waives any setoff, defense or counterclaim that Borrower may have against Bank. Grantor waives any defense arising out of the absence, impairment
or loss of any right of reimbursement or subrogation or any other rights against Borrower. Until all Secured Obligations have been satisfied, Grantor shall have no right of subrogation or reimbursement, contribution or other rights against Borrower,
and Grantor waives any right to enforce any remedy that Bank now has or may hereafter have against Borrower. Grantor waives all rights to participate in any security now or hereafter held by Bank. Grantor waives all presentments, demands for
performance, notices of nonperformance, protests, notices of protest, notices of dishonor, and notices of acceptance of this Agreement and of the existence, creation, or incurring of new or additional indebtedness. Grantor assumes the responsibility
for being and keeping itself informed of the financial condition of Borrower and of all other circumstances bearing upon the risk of nonpayment of any indebtedness or nonperformance of any obligation of Borrower, warrants to Bank that it will keep
so informed, and agrees that absent a request for particular information by Grantor, Bank shall have no duty to advise Grantor of information known to Bank regarding such condition or any such circumstances. Until all Obligations have been
satisfied, Grantor waives the benefits of California Civil Code sections 2799, 2809, 2810, 2815, 2819, 2820, 2821, 2822, 2838, 2839, 2845, 2847, 2848, 2849, 2850, 2899 and 3433. 

12. Borrower Insolvency. If Borrower becomes insolvent or is adjudicated bankrupt or files a petition for reorganization, arrangement,
composition or similar relief under any present or future provision of the United States Bankruptcy Code, or if such a petition is filed against Borrower, and in any such proceeding some or all of any indebtedness or obligations under the Loan
Documents are terminated or rejected or any obligation of Borrower is modified or abrogated, or if Borrower’s obligations are otherwise avoided for insolvency, bankruptcy or any similar reason, Grantor agrees that Grantor’s liability
hereunder shall not thereby be affected or modified and such liability shall continue in full force and effect as if no such action or proceeding had occurred. This Agreement shall continue to be effective or be reinstated, as the case may be, if
any payment must be returned by Bank upon the insolvency, bankruptcy or reorganization of Borrower, Grantor, any other person, or otherwise, as though such payment had not been made. 

  
 14 

 13. Notices. Unless otherwise provided in this Agreement, all notices or demands by any
party relating to this Agreement or any other agreement entered into in connection herewith shall be in writing and (except for financial statements and other informational documents which may be sent by first-class mail, postage prepaid) shall be
personally delivered or sent by a recognized overnight delivery service, certified mail, postage prepaid, return receipt requested, or by telefacsimile to Grantor or to Bank, as the case may be, at its addresses set forth below: 

 

			
	If to Grantor:	  	 Silverback Enterprise Group, Inc.
 Frost Tower,
29th Floor
 401 Congress Avenue, Suite 2950

Austin, TX 78701
 Attn: Chief Financial Officer

FAX: (512) 721-1218

  

			
	with a copy to (which copy is not required to constitute notice):	  	 Wilson Sonsini Goodrick & Rosati, Professional Corporation

650 Page Mill Road
 Palo Alto, CA 94304

Attn: Andrew J. Hirsch
 FAX: (650) 493-6811

		
	If to Bank:	  	 Comerica Bank
 Livonia Operations Center

MC 7512
 39200 Six Mile Rd.

Livonia, MI 48152
 Attn: Credit Manager

		
	with a copy to:	  	 Comerica Bank
 300 W. Sixth St.

Suite 1300
 Austin, TX 78701

Attn: Megan Kirk
 FAX: (512) 427-7178

 The parties hereto may change the address at which they are to receive notices hereunder, by notice in writing
in the foregoing manner given to the other. Failure to deliver a copy of any notice or demand to a Person who is not a party to this Agreement shall not render ineffective any notice or demand otherwise delivered to a party to this Agreement in
accordance with this Section. 
 14. Choice of Law and Venue; Jury Trial Waiver. 

This Agreement shall be governed by, and construed in accordance with, the internal laws of the State of California, without regard to
principles of conflicts of law. Each of the parties hereto hereby submits to the exclusive jurisdiction of the state and Federal courts located in the County of Santa Clara, State of California. THE UNDERSIGNED ACKNOWLEDGE THAT THE RIGHT TO TRIAL BY
JURY IS A CONSTITUTIONAL ONE, BUT THAT IT MAY BE WAIVED UNDER CERTAIN CIRCUMSTANCES. TO THE EXTENT PERMITTED BY LAW, EACH PARTY, AFTER CONSULTING (OR HAVING HAD THE OPPORTUNITY TO CONSULT) WITH COUNSEL OF ITS CHOICE, KNOWINGLY AND VOLUNTARILY, AND
FOR THE MUTUAL BENEFIT OF ALL PARTIES, WAIVES ANY RIGHT TO TRIAL BY JURY IN THE EVENT OF LITIGATION ARISING OUT OF OR RELATED TO THIS AGREEMENT OR ANY OTHER DOCUMENT, INSTRUMENT OR AGREEMENT BETWEEN THE UNDERSIGNED PARTIES. 

  
 15 

 15. Reference Provision. 

(a) In the event the Jury Trial Waiver set forth above is not enforceable, the parties elect to proceed under this Judicial
Reference Provision. 
 (b) With the exception of the items specified in clause (c), below, any controversy, dispute or
claim (each, a “Claim”) between the parties arising out of or relating to this Agreement or any other document, instrument or agreement between the undersigned parties (collectively in this Section, the “Comerica Documents”),
will be resolved by a reference proceeding in California in accordance with the provisions of Sections 638 et seq. of the California Code of Civil Procedure (“CCP”), or their successor sections, which shall constitute the exclusive remedy
for the resolution of any Claim, including whether the Claim is subject to the reference proceeding. Except as otherwise provided in the Comerica Documents, venue for the reference proceeding will be in the state or federal court in the county or
district where the real property involved in the action, if any, is located or in the state or federal court in the county or district where venue is otherwise appropriate under applicable law (the “Court”). 

(c) The matters that shall not be subject to a reference are the following: (i) nonjudicial foreclosure of any security
interests in real or personal property, (ii) exercise of self-help remedies (including, without limitation, set-off), (iii) appointment of a receiver and (iv) temporary, provisional or ancillary remedies (including, without
limitation, writs of attachment, writs of possession, temporary restraining orders or preliminary injunctions). This reference provision does not limit the right of any party to exercise or oppose any of the rights and remedies described in clauses
(i) and (ii) or to seek or oppose from a court of competent jurisdiction any of the items described in clauses (iii) and (iv). The exercise of, or opposition to, any of those items does not waive the right of any party to a reference
pursuant to this reference provision as provided herein. 
 (d) The referee shall be a retired judge or justice selected by
mutual written agreement of the parties. If the parties do not agree within ten (10) days of a written request to do so by any party, then, upon request of any party, the referee shall be selected by the Presiding Judge of the Court (or his or
her representative). A request for appointment of a referee may be heard on an ex parte or expedited basis, and the parties agree that irreparable harm would result if ex parte relief is not granted. Pursuant to CCP § 170.6, each party shall
have one peremptory challenge to the referee selected by the Presiding Judge of the Court (or his or her representative). 

(e) The parties agree that time is of the essence in conducting the reference proceedings. Accordingly, the referee shall be
requested, subject to change in the time periods specified herein for good cause shown, to (i) set the matter for a status and trial-setting conference within fifteen (15) days after the date of selection of the referee, (ii) if
practicable, try all issues of law or fact within one hundred twenty (120) days after the date of the conference and (iii) report a statement of decision within twenty (20) days after the matter has been submitted for decision. 

(f) The referee will have power to expand or limit the amount and duration of discovery. The referee may set or extend
discovery deadlines or cutoffs for good cause, including a party’s failure to provide requested discovery for any reason whatsoever. Unless otherwise ordered based upon good cause shown, no party shall be entitled to “priority” in
conducting discovery, depositions may be taken by either party upon seven (7) days written notice, and all other discovery shall be responded to within fifteen (15) days after service. All disputes relating to discovery which cannot be
resolved by the parties shall be submitted to the referee whose decision shall be final and binding. 
 (g) Except as
expressly set forth herein, the referee shall determine the manner in which the reference proceeding is conducted including the time and place of hearings, the order of presentation of evidence, and all other questions that arise with respect to the
course of the reference proceeding. All proceedings and hearings conducted before the referee, except for trial, shall be conducted without a court reporter, except that when any party so requests, a court reporter will be used at any hearing
conducted before the referee, and the referee will be provided a courtesy copy of the transcript. The party making such a request shall have the obligation to arrange for and pay the court reporter. Subject to the referee’s power to award costs
to the prevailing party, the parties will equally share the cost of the referee and the court reporter at trial. 

  
 16 

 (h) The referee shall be required to determine all issues in accordance with
existing case law and the statutory laws of the State of California. The rules of evidence applicable to proceedings at law in the State of California will be applicable to the reference proceeding. The referee shall be empowered to enter equitable
as well as legal relief, enter equitable orders that will be binding on the parties and rule on any motion which would be authorized in a court proceeding, including without limitation motions for summary judgment or summary adjudication. The
referee shall issue a decision at the close of the reference proceeding which disposes of all claims of the parties that are the subject of the reference. Pursuant to CCP § 644, such decision shall be entered by the Court as a judgment or an
order in the same manner as if the action had been tried by the Court and any such decision will be final, binding and conclusive. The parties reserve the right to appeal from the final judgment or order or from any appealable decision or order
entered by the referee. The parties reserve the right to findings of fact, conclusions of laws, a written statement of decision, and the right to move for a new trial or a different judgment, which new trial, if granted, is also to be a reference
proceeding under this provision. 
 (i) If the enabling legislation which provides for appointment of a referee is repealed
(and no successor statute is enacted), any dispute between the parties that would otherwise be determined by reference procedure will be resolved and determined by arbitration. The arbitration will be conducted by a retired judge or justice, in
accordance with the California Arbitration Act § 1280 through § 1294.2 of the CCP as amended from time to time. The limitations with respect to discovery set forth above shall apply to any such arbitration proceeding. 

(j) THE PARTIES RECOGNIZE AND AGREE THAT ALL CONTROVERSIES, DISPUTES AND CLAIMS RESOLVED UNDER THIS REFERENCE PROVISION WILL
BE DECIDED BY A REFEREE AND NOT BY A JURY. AFTER CONSULTING (OR HAVING HAD THE OPPORTUNITY TO CONSULT) WITH COUNSEL OF ITS OWN CHOICE, EACH PARTY KNOWINGLY AND VOLUNTARILY, AND FOR THE MUTUAL BENEFIT OF ALL PARTIES, AGREES THAT THIS REFERENCE
PROVISION WILL APPLY TO ANY CONTROVERSY, DISPUTE OR CLAIM BETWEEN OR AMONG THEM ARISING OUT OF OR IN ANY WAY RELATED TO, THIS AGREEMENT OR THE OTHER COMERICA DOCUMENTS. 

16. Amalgamation of Borrower. Within one Business Day of the date hereof, Silverback Two Canada Merger Corporation will amalgamate with
its wholly owned subsidiary, TENROX Inc., a Canadian corporation, with TENROX Inc. as the resulting amalgamated entity (the “Amalgamation”). Upon the completion of the Amalgamation, TENROX Inc. will be the Borrower under the Loan Agreement
and all other Loan Documents and all references in this Agreement and the other Loan Documents to “Silverback Two Canada Merger Corporation” shall refer to “TENROX Inc.”, the amalgamated entity. 

17. General Provisions. 

(a) Successors and Assigns. This Agreement shall bind and inure to the benefit of the respective successors and
permitted assigns of each of the parties; provided, however, that neither this Agreement nor any rights hereunder may be assigned by Grantor without Bank’s prior written consent, which consent may be granted or withheld in Bank’s sole
discretion. Bank shall have the right without the consent of or notice to Grantor to sell, transfer, negotiate, or grant participation in all or any part of, or any interest in, Bank’s obligations, rights and benefits hereunder. 

(b) Indemnification. Grantor shall defend, indemnify and hold harmless Bank and its officers, employees, and agents
against: (a) all obligations, demands, claims, and liabilities claimed or asserted by any other party in connection with Grantor’s failure to comply with the terms of this Agreement; and (b) all losses or Bank Expenses (as defined in
the Loan Agreement) in any way suffered, incurred, or paid by Bank as a result of or in any way arising out of, following, or consequential to Grantor’s failure to comply with the terms of this Agreement (including without limitation reasonable
attorneys fees and expenses), except for losses caused by Bank’s gross negligence or willful misconduct. 

  
 17 

 (c) Time of Essence. Time is of the essence for the performance of all
obligations set forth in this Agreement. 
 (d) Severability of Provisions. Each provision of this Agreement shall be
severable from every other provision of this Agreement for the purpose of determining the legal enforceability of any specific provision. 

(e) Amendments in Writing, Integration. This Agreement cannot be amended or terminated orally. All prior agreements,
understandings, representations, warranties, and negotiations between the parties hereto with respect to the subject matter of this Agreement, if any, are merged into this Agreement and the Loan Documents. 

(f) 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, shall be deemed to be an original, and all of which, when taken together, shall constitute but one and the same Agreement. 

(g) Survival. All covenants, representations and warranties made in this Agreement shall continue in full force and
effect so long as any Secured Obligations remain outstanding or Bank has any obligation to make Credit Extensions to Borrower. The obligations of Grantor to indemnify Bank with respect to the expenses, damages, losses, costs and liabilities
described in this Agreement shall survive until all applicable statute of limitations periods with respect to actions that may be brought against Bank have run. 

[Remainder of Page Intentionally Left Blank] 
  

  
 18 

 IN WITNESS WHEREOF, the parties have executed this Agreement on the date set forth above. 

 

									
	GRANTOR:	 		 	BANK
			
	SILVERBACK ENTERPRISE GROUP, INC.	 		 	COMERICA BANK
					
	By:	 	/s/ JOHN T. MCDONALD        	 		 	By:	 	/s/ PAUL GERLING         

									
					
	Name:	 	John T. McDonald	 		 	Name:	 	Paul Gerling

									
					
	Title:	 	Chief Executive Officer	 		 	Title: 	 	Senior Vice President

			
	DEBTOR:	    	SILVERBACK ENTERPRISE GROUP, INC.
	SECURED PARTY:	    	COMERICA BANK

 EXHIBIT A 

COLLATERAL DESCRIPTION ATTACHMENT

TO SECURITY AGREEMENT 
 All
personal property of Grantor (herein referred to as “Grantor” or “Debtor”) whether presently existing or hereafter created or acquired, and wherever located, including, but not limited to: 

(a) all accounts (including health-care-insurance receivables), chattel paper (including tangible and electronic chattel
paper), deposit accounts, documents (including negotiable documents), equipment (including all accessions and additions thereto), general intangibles (including payment intangibles and software), goods (including fixtures), instruments (including
promissory notes), inventory (including all goods held for sale or lease or to be furnished under a contract of service, and including returns and repossessions), investment property (including securities and securities entitlements), letter of
credit rights, money, and all of Debtor’s books and records with respect to any of the foregoing, and the computers and equipment containing said books and records; 

(b) all of the equity interests of each Subsidiary of Grantor, including without limit the equity interests identified on
Schedule 3(e) attached hereto (or any addendum thereto), all equity interests of the Persons identified as Issuers on Schedule 3(e) attached hereto (each an “Issuer”), and all securities convertible or exchangeable
into, and all warrants, options, or other rights to purchase, the equity interests of Issuer; to the extent of Grantor’s interest therein, all shares of, all securities convertible or exchangeable into, and all warrants, options, or other
rights to purchase shares of stock of any Person in which a Grantor acquires a direct equity interest, irrespective of whether such Person is or becomes a Subsidiary of Grantor; the certificates or instruments representing such additional shares,
convertible or exchangeable securities, warrants, and other rights and all dividends, cash, options, warrants, rights, instruments, and other property or proceeds from time to time received, receivable, or otherwise distributed in respect of or in
exchange for any or all of such shares (collectively, the “Pledged Interests”). Notwithstanding the foregoing, (i) “Pledged Interests” shall not include Grantor’s equity interests of Visionael ApS (Sweden) and
(ii) the security interest granted by Grantor over the Pledged Interests where the Issuer is a Foreign Subsidiary, shall: 

(i) Be limited to a pledge of 65% (or such lesser percentage owned by Grantor) of the aggregate issued and outstanding voting
equity interests of such Issuer (determined based on the total voting rights represented by such equity interests) to secure the Grantor Obligations; and 

(ii) Be a pledge of 100% of the aggregate issued and outstanding equity interests of such Issuer to secure the Obligations
(provided, that notwithstanding anything herein to the contrary, in no event shall there be a pledge of more than 65% of the total voting power of such Issuer to secure an obligation which is considered an “obligation of a United States
person” within the meaning of Treasury Regulation Section 1.956-2(c)). 
 (c) all common law and statutory
copyrights and copyright registrations, applications for registration, now existing or hereafter arising, in the United States of America or in any foreign jurisdiction, obtained or to be obtained on or in connection with any of the forgoing, or any
parts thereof or any underlying or component elements of any of the forgoing, together with the right to copyright and all rights to renew or extend such copyrights and the right (but not the obligation) of Bank (herein referred to as
“Bank” or “Secured Party”) to sue in its own name and/or in the name of the Debtor for past, present and future infringements of copyright; 

 (d) all trademarks, service marks, trade names and service names and the goodwill
associated therewith, together with the right to trademark and all rights to renew or extend such trademarks and the right (but not the obligation) of Secured Party to sue in its own name and/or in the name of the Debtor for past, present and future
infringements of trademark; 
 (e) all (i) patents and patent applications filed in the United States Patent and
Trademark Office or any similar office of any foreign jurisdiction, and interests under patent license agreements, including, without limitation, the inventions and improvements described and claimed therein, (ii) licenses pertaining to any
patent whether Debtor is licensor or licensee, (iii) income, royalties, damages, payments, accounts and accounts receivable now or hereafter due and/or payable under and with respect thereto, including, without limitation, damages and payments
for past, present or future infringements thereof, (iv) right (but not the obligation) to sue in the name of Debtor and/or in the name of Secured Party for past, present and future infringements thereof, (v) rights corresponding thereto
throughout the world in all jurisdictions in which such patents have been issued or applied for, and (vi) reissues, divisions, continuations, renewals, extensions and continuations-in-part with respect to any of the foregoing; and 

(f) any and all cash proceeds and/or noncash proceeds of any of the foregoing, including, without limitation, insurance
proceeds, and all supporting obligations and the security therefor or for any right to payment. All terms above have the meanings given to them in the California Uniform Commercial Code, as amended or supplemented from time to time. 

Notwithstanding the foregoing, the Collateral shall not include (i) any property that is nonassignable by its terms without the consent
of the licensor thereof or another party (but only to the extent such prohibition on transfer is enforceable under applicable law, including, without limitation, Sections 9406 and 9408 of the Code), (ii) any property where the granting of a
security interest therein is contrary to applicable law, provided that upon the cessation of any such restriction or prohibition, such property shall automatically become part of the Collateral, or (iii) any intent-to-use trademarks at all
times prior to the first use thereof, whether by the actual use thereof in commerce, the recording of a statement of use with the United States Patent and Trademark Office or otherwise, but only to the extent the granting of a security interest in
such intent-to-use trademark would be contrary to applicable law. 
 Terms not specifically defined herein shall have the meanings ascribed to such terms in
that certain Pledge and Security Agreement dated as of February 10, 2012 between Debtor and Secured Party. 

  
 21 

 AMENDMENT TO PLEDGE AND SECURITY AGREEMENT 

This Amendment to Pledge and Security Agreement (“Amendment”), is made, delivered, and effective as of March 5, 2012
(“Effective Date”) between SILVERBACK ENTERPRISE GROUP, INC., a Delaware corporation (“Grantor”) and COMERICA BANK (“Bank”). 

RECITALS 
 A. Grantor and Bank
are parties to that certain Pledge and Security Agreement dated as of February 10, 2012 (the “Security Agreement”). 

B. Grantor and Bank desire to amend the Security Agreement as set forth herein. 

NOW, THEREFORE, in consideration of the premises and other good and valuable consideration, the receipt and adequacy of which are hereby
acknowledged, Grantor and Bank agree as follows: 
  

	 	1.	Section 2(b) of the Security Agreement is amended and restated to read in its entirety as follows: 

“(b) Notwithstanding the foregoing, the security interest granted by Grantor over the Pledged Interests where the Issuer
is a Foreign Subsidiary, shall: 
 (i) Be a pledge of 100% of the aggregate issued and outstanding equity interests of such Issuer to
secure (x) the Obligations, and (y) any Grantor Obligations arising under that certain Unconditional Guaranty dated as of even date herewith by Grantor in favor of Bank; 

(ii) Be limited to a pledge of 65% (or such lesser percentage owned by Grantor) of the aggregate issued and outstanding voting equity
interests of such Issuer (determined based on the total voting rights represented by such equity interests) to secure any Grantor Obligations other than any Grantor Obligations arising under that certain Unconditional Guaranty dated as of even date
herewith by Grantor in favor of Bank.” 
  

	 	2.	Grantor acknowledges and agrees that except as expressly amended in this Amendment, the Security Agreement, as amended, remains in full force and effect, subject to no setoff, defense or counterclaim. 

 

	 	3.	Grantor affirms its obligations to Bank under the Security Agreement. 

  

	 	4.	All the terms used in this Amendment which are defined in the Security Agreement shall have the same meaning as used in the Security Agreement, unless otherwise defined in this Amendment. 

 

	 	5.	This Amendment is not an agreement to any further or other amendment of the Security Agreement. 

  

	 	6.	This Amendment may be executed in two or more counterparts, each of which shall be deemed an original, but all of which together shall constitute one Amendment. 

[signatures on following pages] 

 IN WITNESS WHEREOF, the parties have executed this Amendment on the date set forth above. 

 

									
	GRANTOR:	 		 	BANK
			
	SILVERBACK ENTERPRISE GROUP, INC.	 		 	COMERICA BANK
					
	By:	 	 	 		 	By:	 	 

									
					
	Name:	 	 	 		 	Name:	 	 

									
					
	Title:	 	 	 		 	Title:	 	 

 [Signature Page to Amendment to Pledge and Security Agreement (Silverback)] 

 SECOND AMENDMENT TO PLEDGE AND 

SECURITY AGREEMENT 
 This Second Amendment
to Pledge and Security Agreement (this “Amendment”) is entered into as of November 30, 2012, between COMERICA BANK (“Bank”), and SILVERBACK ENTERPRISE GROUP, INC. (“Grantor”). 

RECITALS 
 Grantor and
Bank are parties to that certain Pledge and Security Agreement dated as of February 10, 2012 (as it may be amended from time to time, the “Security Agreement”). The parties desire to amend the Security Agreement, in accordance
with the terms of this Amendment. 
 NOW, THEREFORE, the parties agree as follows: 

1. Section 4(n) of the Security Agreement is amended and restated to read in its entirety as follows: 

“(n) Accounts. On or before May 31, 2012, Grantor shall maintain and shall cause each of its Subsidiaries to maintain their
depository and operating accounts with Bank and their investment accounts with Bank’s Affiliates covered by a control agreement in form and substance reasonably acceptable to Bank.” 

2. Unless otherwise defined, all initially capitalized terms in this Amendment shall be as defined in the Security Agreement. The Security
Agreement, as amended hereby, shall be and remains in full force and effect in accordance with its terms and hereby is ratified and confirmed in all respects. Except as expressly set forth herein, the execution, delivery, and performance of this
Amendment shall not operate as a waiver of, or as an amendment of, any right, power, or remedy of Bank under the Security Agreement, as in effect prior to the date hereof. 

3. Grantor represents and warrants that the Representations and Warranties contained in the Security Agreement are true and correct in all
material respects as of the date of this Amendment (provided, however, that those representations and warranties expressly referring to another date shall be true, correct and complete in all material respects as of such date), and that no Event of
Default has occurred and is continuing. 
 4. This Amendment may be executed in two or more counterparts, each of which shall be deemed an
original, but all of which together shall constitute one instrument. 
 [Signatures on following page] 

 IN WITNESS WHEREOF, the undersigned have executed this Amendment as of the first date above
written. 
  

			
	“Grantor”
	
	 SILVERBACK ENTERPRISE GROUP, INC.

		
	By:	 	 

 
			
		
	 Name:
	 	 

 
			
		
	 Title:
	 	 
	
	“Bank”
	
	 COMERICA BANK

 
			
		
	By:	 	 

 
			
		
	 Name:
	 	 

 
			
		
	 Title:
	 	 

 AMENDMENT NO. 3 TO 

PLEDGE AND SECURITY AGREEMENT AND WAIVER 

This Amendment and Waiver executed as of April 11, 2013 by Silverback Enterprise Group, Inc. (“Grantor”) and Comerica Bank
(“Bank”). 
 Recitals 

A. Grantor executed a Pledge and Security Agreement dated as of February 10, 2012 in favor of Bank (as may have been amended, restated,
supplemented or replaced from time to time, the “Pledge and Security Agreement”). 
 B. Debtor and Bank desire to amend the Pledge
and Security Agreement as set forth below. 
 The parties agree as follows: 

1. Bank hereby waives Grantor’s violation of Section 4(p)(iv) of the Pledge and Security Agreement and those Sections of the Pledge
and Security Agreement related to clause (iii) of the definition of Permitted Liens for the period beginning on December 31, 2012 through the date hereof. This waiver is specific as to content and time, shall be limited precisely as
written, and shall not constitute a waiver of any other current or future Default or Event of Default or breach of any covenant contained in the Pledge and Security Agreement or the terms and conditions of any other Loan Documents. Bank expressly
reserves all of its various rights, remedies, powers and privileges under the Pledge and Security Agreement and the other Loan Documents due to any other Default or breach not waived herein. 

2. Subsection (iii) of the definition of “Permitted Indebtedness” in Section 1 of the Pledge and Security Agreement is
amended and restated to read in its entirety as follows: 
 “(iii) Indebtedness of Grantor, Visionael Corporation, a Delaware
corporation, Tenrox Inc., a Delaware corporation, Powersteering Software, Inc., a Delaware corporation and LMR Solutions LLC, a Delaware limited liability company (collectively, the ‘Secured Guarantors’, and each individually a
‘Secured Guarantor’), or any of them, individually or in the aggregate, in an amount not to exceed Six Hundred Thousand Dollars ($600,000.00) in any fiscal year secured by a lien described in clause (iii) of the defined term
‘Permitted Liens’, provided such Indebtedness does not exceed the lesser of the cost or fair market value of the equipment financed with such Indebtedness;” 

3. Subsection (iii) of the definition of “Permitted Liens” in Section 1 of the Pledge and Security Agreement is amended
and restated to read in its entirety as follows: 
 “(iii) Liens securing obligations of Secured Guarantors, or any of them,
individually or in the aggregate, not to exceed Six Hundred Thousand Dollars ($600,000.00) (i) upon or in any Equipment acquired or held by a Secured Guarantor or any of its Subsidiaries to secure the purchase price of such Equipment or
indebtedness incurred solely for the purpose of financing the acquisition or lease of such Equipment, or (ii) existing on such Equipment at the time of its acquisition, provided that the lien is confined solely to the property so acquired and
improvements thereon, and the proceeds of such Equipment;” 
 4. The Schedule of Exceptions to the Pledge and Security Agreement is
amended as set forth on the Amendment to Schedule of Exceptions attached hereto. 
 5. Except as expressly modified hereby, all of the terms
and conditions of the Pledge and Security Agreement remain in full force and effect. 

 IN WITNESS WHEREOF, the parties execute this Amendment as of the date set forth above. 

 

									
	SILVERBACK ENTERPRISE GROUP, INC.	 		 	COMERICA BANK

									
					
	 By:
	 	 /s/ JOHN T. MCDONALD
	 		 	By:	 	 /s/ PAUL GERLING

					
	 Its:
	 	 Chairman and CEO
	 		 	Its:	 	 Senior Vice President

  
 2 

 AMENDMENT NO. 4 TO PLEDGE AND SECURITY AGREEMENT AND CONSENT 

This Amendment No. 4 to Pledge and Security Agreement and Consent (“Amendment”), is made, delivered, and effective as of
May 16, 2013 between SILVERBACK ENTERPRISE GROUP, INC., a Delaware corporation (“Grantor”) and COMERICA BANK (“Bank”). 

RECITALS 
 A. Grantor and Bank
are parties to that certain Pledge and Security Agreement dated as of February 10, 2012, as amended by that certain Amendment to Pledge and Security Agreement dated as of March 5, 2012 (as amended, the “Security
Agreement”). 
 B. Grantor has informed Bank that it intends to acquire substantially all of the stock of Marex Group, Inc., a
Nebraska corporation (“Marex”), and FileBound Solutions, Inc., a Florida corporation (“FileBound”) under the terms of a Stock Purchase Agreement among Grantor, Marex, FileBound, Mark Creglow, Rex Lamb, Vicki Lamb,
Sean Nathaniel and Dan Yount dated on or about the date hereof (the “Purchase Agreement”). The transactions described in the Purchase Agreement are referred to as the “Transaction”. 

C. Grantor has requested that Bank consent to the Transaction and waive any Event of Default which would arise under Section 4(p)(ii) of
the Security Agreement as a result of the Transaction, and Bank has agreed to do so, subject to the terms and conditions of this Amendment. 

D. Grantor and Bank desire to amend the Security Agreement as set forth herein. 

NOW, THEREFORE, in consideration of the premises and other good and valuable consideration, the receipt and adequacy of which are hereby
acknowledged, Grantor and Bank agree as follows: 
 1. Bank hereby consents to the Transaction (“Consent”) and waives any
Event of Default which would arise under Section 4(p)(ii) of the Security Agreement as a result of the Transaction, so long as (a) the Purchase Agreement is in full force and effect without any material amendment or modification from the
version last provided to Bank, (b) the Transaction is consummated in accordance with the terms of the Purchase Agreement, and (c) after giving effect to this Consent, no default or Event of Default has occurred under any of the Loan
Documents prior to the consummation of the Transaction or would result after giving effect thereto. 
 Except as specifically set forth
herein, the Consent shall not be deemed to amend or alter in any respect the terms and conditions of the Security Agreement or any of the other Loan Documents, or to constitute a waiver or release by Bank of any right, remedy, Collateral, default or
Event of Default under the Security Agreement or any of the other Loan Documents, except to the extent specifically set forth herein. The Consent shall not act as a consent to any other transaction, act or omission, whether related or unrelated
thereto and shall not extend to or affect any obligation, covenant or agreement not expressly consented hereto. Furthermore, the Consent shall not affect in any manner whatsoever any rights or remedies of Bank with respect to any other
non-compliance by Grantor with the Security Agreement or the other Loan Documents, whether in the nature of a default or Event of Default, and whether now in existence or subsequently arising, and shall not apply to any other transaction. 

2. Section 3(e)(iii) of the Security Agreement is amended and restated to read in its entirety as follows: 

“(iii) The Pledged Interests have been duly authorized and validly issued, constitute all the issued and outstanding equity interests of
Visionael Corporation, a Delaware corporation, TENROX Inc., a Delaware corporation, TENROX Inc., a Canadian corporation, TENROX Ltd., a United Kingdom corporation, LMR Solutions LLC, a Delaware limited liability company, Marex Group, Inc., a
Nebraska corporation and FileBound Solutions, Inc., a Florida corporation, as applicable, are freely and validly assignable by Grantor, and are not subject to any option, warrant right to call or commitment of any kind or nature; and” 

 3. Subsection (iii) of the definition of “Permitted Indebtedness” in
Section 1 of the Pledge and Security Agreement is amended and restated to read in its entirety as follows: 
 “(iii) Indebtedness
of Grantor, Visionael Corporation, a Delaware corporation, Tenrox Inc., a Delaware corporation, Powersteering Software, Inc., a Delaware corporation and LMR Solutions LLC, a Delaware limited liability company, Marex Group, Inc., a Nebraska
corporation, and FileBound Solutions, Inc., a Florida corporation (collectively, the ‘Secured Guarantors’, and each individually a ‘Secured Guarantor’), or any of them, individually or in the aggregate, in an amount not to exceed
One Million Dollars ($1,000,000.00) in any fiscal year secured by a lien described in clause (iii) of the defined term ‘Permitted Liens’, provided such Indebtedness does not exceed the lesser of the cost or fair market value of the
equipment financed with such Indebtedness;” 
 4. Subsection (iii) of the definition of “Permitted Liens” in
Section 1 of the Pledge and Security Agreement is amended and restated to read in its entirety as follows: 
 “(iii) Liens
securing obligations of Secured Guarantors, or any of them, individually or in the aggregate, not to exceed One Million Dollars ($1,000,000.00) (i) upon or in any Equipment acquired or held by a Secured Guarantor or any of its Subsidiaries to
secure the purchase price of such Equipment or indebtedness incurred solely for the purpose of financing the acquisition or lease of such Equipment, or (ii) existing on such Equipment at the time of its acquisition, provided that the lien is
confined solely to the property so acquired and improvements thereon, and the proceeds of such Equipment;” 
 5. The following sentence
is added to the end of Section 4(n) of the Security Agreement: 
 “Notwithstanding the foregoing, Marex Group, Inc., a Nebraska
corporation, and FileBound Solutions, Inc., a Florida corporation, may maintain accounts outside of Bank and Bank’s Affiliates until August             , 2013. On August
            , 2013, and at all times thereafter, Grantor shall cause Marex Group, Inc., a Nebraska corporation, and FileBound Solutions, Inc., a Florida corporation, to maintain all of
their depository and operating accounts at Bank, and all of their investment accounts with Bank’s Affiliates covered by control agreements in form and substance reasonably acceptable to Bank.” 

6. The Schedule of Exceptions to the Pledge and Security Agreement is amended as set forth on the Amendment to Schedule of Exceptions attached
hereto. 
 7. Schedule 3(e) attached to the Security Agreement is deleted and replaced with the Schedule 3(e) attached hereto. 

8. Grantor acknowledges and agrees that except as expressly amended in this Amendment, the Security Agreement, as amended, remains in full
force and effect, subject to no setoff, defense or counterclaim. 
 9. Grantor affirms its obligations to Bank under the Security Agreement.

 10. All the terms used in this Amendment which are defined in the Security Agreement shall have the same meaning as used in the Security
Agreement, unless otherwise defined in this Amendment. 
 11. This Amendment is not an agreement to any further or other amendment of the
Security Agreement. 
 12. This Amendment may be executed in two or more counterparts, each of which shall be deemed an original, but all of
which together shall constitute one Amendment. 
 [signatures on following page] 

 IN WITNESS WHEREOF, the parties have executed this Amendment on the date set forth above. 

 

									
	GRANTOR:	 		 	BANK
			
	SILVERBACK ENTERPRISE GROUP, INC.	 		 	COMERICA BANK
					
	By:	 	    /s/ John T. McDonald	 		 	By:	 	     /s/ Paul Gerling

									
					
	Name:	 	    John T. McDonald	 		 	Name:	 	    Paul Gerling

									
					
	Title:	 	    Chief Executive Officer	 		 	Title:	 	    Senior Vice President

 [Signature Page to Amendment No. 4 to Pledge and Security Agreement and Consent (Silverback)]

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