Document:

EX-10.1

 Exhibit 10.1 

FIFTH AMENDMENT TO LOAN AND SECURITY AGREEMENT 

THIS FIFTH AMENDMENT TO LOAN AND SECURITY AGREEMENT (this “Amendment”) is entered into this 31st day of March, 2015 (the “Fifth Amendment Effective Date”), by and between SILICON VALLEY BANK, a California corporation (“Bank”) and AEROHIVE NETWORKS,
INC., a Delaware corporation (“Borrower”). 
 RECITALS 

A. Bank and Borrower have entered into that certain Loan and Security Agreement dated as of June 21, 2012 (as the same may from time to
time be further amended, modified, supplemented or restated, the “Loan Agreement”). 
 B. Bank has extended credit to
Borrower for the purposes permitted in the Loan Agreement. 
 C. Borrower has requested that Bank amend the Loan Agreement to
(i) increase the Revolving Line, (ii) extend the Revolving Line Maturity Date, (iii) increase the Non-Formula Amount, (iv) remove the EXIM sublimit, and (v) make certain other revisions to the Loan Agreement as more fully
set forth herein. 
 D. Bank has agreed to so amend certain provisions of the Loan Agreement, but only to the extent, in accordance with the
terms, subject to the conditions and in reliance upon the representations and warranties set forth below. 
 AGREEMENT

 NOW, THEREFORE, in consideration of the foregoing recitals and
other good and valuable consideration, the receipt and adequacy of which is hereby acknowledged, and intending to be legally bound, the parties hereto agree as follows: 

1. Definitions. Capitalized terms used but not defined in this Amendment shall have the meanings given to them in the Loan Agreement.

 2. Amendments to Loan Agreement. 

2.1 Payoff of TriplePoint Indebtedness. Bank and Borrower hereby agree that the proceeds of the initial Advance made on the Fifth
Amendment Effective Date (the “Initial Fifth Amendment Advance”) shall be used to pay off, on the Fifth Amendment Effective Date, all of the TriplePoint Indebtedness existing immediately prior to the Fifth Amendment Effective Date
(the “TriplePoint Payoff”). On or before the consummation of the TriplePoint Payoff, Borrower shall deliver to Bank a duly executed original signature to a payoff letter from TriplePoint which provides evidence that (i) the
TriplePoint Loan Documents will be terminated upon the TriplePoint Payoff and all amounts thereunder will be paid in full, (ii) the Liens securing TriplePoint Indebtedness will be terminated and (iii) the documents and/or filings
evidencing the perfection of such Liens, including without limitation any financing statements and/or control agreements, have or will, concurrently with the Initial Fifth Amendment Advance, be terminated. 

 2.2 Removal of EXIM Loan Facility. Bank and Borrower hereby agree that effective as of the
date hereof, all Obligations due and owing to Bank in connection with the EXIM Advances have been paid in full and that Bank has no further commitment or obligation to make EXIM Advances to Borrower under the EXIM Loan Agreement. Bank and Borrower
further agree that the EXIM Loan Agreement and each of the other EXIM Loan Documents (as defined in the EXIM Loan Agreement) are hereby terminated in their entirety and are of no further force or effect. 

2.3 Section 2.1.1 (Revolving Advances). The first sentence of Section 2.1.1(b) of the Loan Agreement is hereby amended in its
entirety and replaced with the following: 
 Subject to the terms and conditions of this Agreement, as part of the Revolving Line, Bank shall
make non-formula advances (the “Non-Formula Advances”) to Borrower in an aggregate amount not to exceed (a) the Non-Formula Amount minus (b) the sum of all outstanding principal amounts of any Non-Formula Advances. 

2.4 Section 2.3 (Payment of Interest on the Credit Extensions). Section 2.3 of the Loan Agreement is hereby amended in its
entirety and replaced with the following: 
 2.3 Payment of Interest on the Credit Extensions. 

(a) Interest; Payment. Subject to Section 2.3(e), each Advance shall bear interest on the outstanding principal
amount thereof from the date when made, continued or converted until paid in full at a rate per annum equal to (i) for Prime Rate Advances, the Prime Rate minus the Prime Rate Margin, and (ii) for LIBOR Advances, the LIBOR Rate plus the
LIBOR Rate Margin. On and after the expiration of any Interest Period applicable to any LIBOR Advance outstanding on the date of occurrence of an Event of Default or acceleration of the Obligations, the amount of such LIBOR Advance shall, during the
continuance of such Event of Default or after acceleration, bear interest at a rate per annum equal to the Prime Rate plus five percent (5.0%). Pursuant to the terms hereof, interest on each Advance shall be paid in arrears on each Interest Payment
Date. Interest shall also be paid on the date of any prepayment of any Advance pursuant to this Agreement for the portion of any Advance so prepaid and upon payment (including prepayment) in full thereof. All accrued but unpaid interest on the
Advances shall be due and payable on the Revolving Line Maturity Date. 
 (b) Prime Rate Advances. Each change in the
interest rate of the Prime Rate Advances based on changes in the Prime Rate shall be effective on the effective date of such change and to the extent of such change. 

(c) LIBOR Advances. The interest rate applicable to each LIBOR Advance shall be determined in accordance with
Section 3.5 hereunder. Subject to Sections 3.6 and 3.7, such rate shall apply during the entire Interest Period applicable to such LIBOR Advance, and interest calculated thereon shall be payable on the Interest Payment Date applicable to
such LIBOR Advance. 

  
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 (d) Computation of Interest. Any interest hereunder will accrue from day
to day and is calculated on the basis of the actual number of days elapsed and a year of 360 days. In computing interest on any Credit Extension, the date of the making of such Credit Extension shall be included and the date of payment shall be
excluded; provided, however, that if any Credit Extension is repaid on the same day on which it is made, such day shall be included in computing interest on such Credit Extension. 

(e) Default Rate. Immediately upon the occurrence and during the continuance of an Event of Default, Obligations shall
bear interest at a rate per annum which is five percentage points (5.0%) above the rate that is otherwise applicable thereto (the “Default Rate”). Fees and expenses which are required to be paid by Borrower pursuant to the Loan
Documents (including, without limitation, Bank Expenses) but are not paid when due shall bear interest until paid at a rate equal to the highest rate applicable to the Obligations. Payment or acceptance of the increased interest rate provided in
this Section 2.3(e) is not a permitted alternative to timely payment and shall not constitute a waiver of any Event of Default or otherwise prejudice or limit any rights or remedies of Bank. 

(f) Debit of Accounts. Bank may debit any of Borrower’s deposit accounts, including the Designated Deposit Account,
for principal and interest payments or any other amounts Borrower owes Bank when due. These debits shall not constitute a set-off. 

(g) Minimum Interest. In the event the aggregate amount of interest earned by Bank in any month (such period, the
“Minimum Interest Period,” with the initial period beginning on the Fifth Amendment Effective Date and continuing with each month thereafter until the earlier of the Revolving Line Maturity Date or the date this Agreement is
terminated) is less than the amount of interest which would have accrued if the average daily outstanding balance of the Revolving Line during such month had been Ten Million Dollars ($10,000,000) (exclusive of any collateral monitoring fees, unused
line fees, or any other fees and charges hereunder) (“Minimum Interest”), Borrower shall pay to Bank, upon demand by Bank, an amount equal to (i) the Minimum Interest minus (ii) the aggregate amount of all interest earned
by Bank (exclusive of any collateral monitoring fees, unused line fees, or any other fees and charges hereunder) in such Minimum Interest Period. The amount of Minimum Interest charged shall be prorated for any partial Minimum Interest Period.
Borrower shall not be entitled to any credit, rebate, or repayment of any Minimum Interest pursuant to this Section 2.3(g) notwithstanding any termination of this Agreement or the suspension or termination of Bank’s obligation to make
loans and advances hereunder. Bank may deduct amounts owing by Borrower under this Section 2.3(g) pursuant to the terms of Section 2.3(f). Bank shall provide Borrower written notice of deductions made from the Designated Deposit Account
pursuant to the terms of this Section 2.3(g). 

  
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 2.5 Section 2.4 (Fees). Section 2.4 of the Loan Agreement is hereby amended by
adding Sections 2.4(d) and 2.4(e) in their entirety immediately after Section 2.4(c) of the Loan Agreement as follows: 

(d) Termination Fee. Upon termination of this Agreement for any reason prior to the Revolving Line Maturity Date, in
addition to the payment of any other amounts then-owing, a termination fee in an amount equal to Four Hundred Thousand Dollars ($400,000), provided that no termination fee shall be charged if the credit facility hereunder is replaced with a new
facility from Bank. 
 (e) Fees Fully Earned. Unless otherwise provided in this Agreement or in a separate writing by
Bank, Borrower shall not be entitled to any credit, rebate, or repayment of any fees earned by Bank pursuant to this Agreement notwithstanding any termination of this Agreement or the suspension or termination of Bank’s obligation to make loans
and advances hereunder. Bank may deduct amounts owing by Borrower under the clauses of this Section 2.4 pursuant to the terms of Section 2.3(f). Bank shall provide Borrower written notice of deductions made from the Designated Deposit
Account pursuant to the terms of the clauses of this Section 2.4. 
 2.6 Section 3.3 (Conditions Precedent to all Credit
Extensions). Section 3.3(c) of the Loan Agreement is hereby amended in its entirety and replaced with the following: 

(c) in Bank’s sole discretion, there has not been (i) a material adverse change in the business, operations, or
condition (financial or otherwise) of Borrower and its Subsidiaries, taken as a whole or (ii) a material impairment of the propsect of repayment of any portion of the Obligations. 

2.7 Section 3.5 (Procedures for Borrowing). Section 3.5 of the Loan Agreement is hereby amended in its entirety and replaced
with the following: 
 3.5 Procedures for Borrowing. 

(a) Advances. 

(i) Subject to the prior satisfaction of all other applicable conditions to the making of an Advance set forth in this
Agreement, an Advance shall be made upon Borrower’s irrevocable written notice delivered to Bank by electronic mail in the form of a Notice of Borrowing executed by an Authorized Signer or without instructions if any Advances is necessary to
meet Obligations which have become due. Such Notice of Borrowing must be received by Bank prior to 12:00 p.m. Pacific time, (i) at least three (3) Business Days prior to the requested Funding Date, in the case of any LIBOR Advance,
and (ii) on the requested Funding Date, in the case of a Prime Rate Advance, specifying: (1) the amount of the Advance; (2) the requested Funding Date; (3) whether the Advance is to be comprised of LIBOR Advances or Prime
Rate Advances; and (4) the duration of the Interest Period applicable to any such LIBOR Advances included in such notice; provided that if the Notice of Borrowing shall fail to specify the duration of the Interest Period for any Advance
comprised of LIBOR Advances, such Interest Period shall be one (1) month. In addition to such Notice of Borrowing, Borrower must promptly deliver to Bank by electronic mail a completed Transaction Report executed by an Authorized Signer
together with such other reports and information, including without limitation, sales journals, cash receipts journals, accounts receivable aging reports, as Bank may request in its sole discretion. 

  
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 (ii) On the Funding Date, Bank shall credit proceeds of an Advance to the
Designated Deposit Account and, subsequently, shall transfer such proceeds by wire transfer to such other account as Borrower may instruct in the Notice of Borrowing. No Advances shall be deemed made to Borrower, and no interest shall accrue on any
such Advance, until the related funds have been deposited in the applicable Designated Deposit Account. 
 2.8 Section 3 (Conditions
of Loans). Section 3 of the Loan Agreement is hereby amended by adding Sections 3.6, 3.7 and 3.8 in their entirety immediately after Section 3.5 of the Loan Agreement as follows: 

3.6 Conversion and Continuation Elections. 

(a) So long as (i) no Event of Default exists and is continuing; (ii) Borrower shall not have sent any notice of
termination of this Agreement; and (iii) Borrower shall have complied with such customary procedures as Bank has established from time to time for Borrower’s requests for LIBOR Advances, Borrower may, upon irrevocable written notice to
Bank: 
 (1) elect to convert on any Business Day, Prime Rate Advances into LIBOR Advances; 

(2) elect to continue on any Interest Payment Date any LIBOR Advances maturing on such Interest Payment Date; or 

(3) elect to convert on any Interest Payment Date any LIBOR Advances maturing on such Interest Payment Date into Prime Rate
Advances. 
 (b) Borrower shall deliver a Notice of Conversion/Continuation by electronic mail to be received by Bank prior
to 12:00 p.m. Pacific time (i) at least three (3) Business Days in advance of the Conversion Date or Continuation Date, if any Advances are to be converted into or continued as LIBOR Advances; and (ii) on the Conversion Date, if
any Advances are to be converted into Prime Rate Advances, in each case specifying the: 
 (1) proposed Conversion Date or
Continuation Date; 
 (2) aggregate amount of the Advances to be converted or continued; 

(3) nature of the proposed conversion or continuation; and 

(4) if the resulting Advance is to be a LIBOR Advance, the duration of the requested Interest Period. 

  
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 (c) If upon the expiration of any Interest Period applicable to any LIBOR
Advances, Borrower shall have timely failed to select a new Interest Period to be applicable to such LIBOR Advances or request to convert a LIBOR Advance into a Prime Rate Advance, Borrower shall be deemed to have elected to convert such LIBOR
Advances into Prime Rate Advances. 
 (d) Any LIBOR Advances shall, at Bank’s option, convert into Prime Rate Advances
in the event that (i) an Event of Default exists, or (ii) the aggregate principal amount of the Prime Rate Advances which have been previously converted to LIBOR Advances, or the aggregate principal amount of existing LIBOR Advances
continued, as the case may be, at the beginning of an Interest Period shall at any time during such Interest Period exceeds the lesser of the Revolving Line or the Borrowing Base. Borrower agrees to pay Bank, upon demand by Bank (or Bank may, at its
option, debit the Designated Deposit Account or any other account Borrower maintains with Bank) any amounts required to compensate Bank for any loss (including loss of anticipated profits), cost, or expense incurred by Bank, as a result of the
conversion of LIBOR Advances to Prime Rate Advances pursuant to this Section 3.6(d). 
 (e) Notwithstanding anything to
the contrary contained herein, Bank shall not be required to purchase Dollar deposits in the London interbank market or other applicable LIBOR market to fund any LIBOR Advances, but the provisions hereof shall be deemed to apply as if Bank had
purchased such deposits to fund the LIBOR Advances. 
 3.7 Special Provisions Governing LIBOR Advances.
Notwithstanding any other provision of this Agreement to the contrary, the following provisions shall govern with respect to LIBOR Advances as to the matters covered: 

(a) Determination of Applicable Interest Rate. As soon as practicable on each Interest Rate Determination Date, Bank
shall determine (which determination shall, absent manifest error in calculation, be final, conclusive and binding upon all parties) the interest rate that shall apply to the LIBOR Advances for which an interest rate is then being determined for the
applicable Interest Period and shall promptly give notice thereof (in writing or by telephone confirmed in writing) to Borrower. 

(b) Inability to Determine Applicable Interest Rate. In the event that Bank shall have determined (which determination
shall be final and conclusive and binding upon all parties hereto), on any Interest Rate Determination Date with respect to any LIBOR Advance, that by reason of circumstances affecting the London interbank market adequate and fair means do not exist
for ascertaining the interest rate applicable to such LIBOR Advance on the basis provided for in the definition of LIBOR, Bank shall on such date give notice (by facsimile or by telephone confirmed in writing) to Borrower of such determination,
whereupon (i) no Advances may be made as, or converted to, LIBOR Advances until such time as Bank notifies Borrower that the circumstances giving rise to such notice no longer exist, and (ii) any Notice of Borrowing or Notice of
Conversion/Continuation given by Borrower with respect to LIBOR Advances in respect of which such determination was made shall be deemed to be rescinded by Borrower. 

  
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 (c) Compensation for Breakage or Non-Commencement of Interest Periods. If
(i) for any reason, other than a default by Bank or any failure of Bank to fund LIBOR Advances due to impracticability or illegality under Sections 3.8(c) and 3.8(d) of this Agreement, a borrowing or a conversion to or continuation of any
LIBOR Advance does not occur on a date specified in a Notice of Borrowing or a Notice of Conversion/Continuation, as the case may be, or (ii) any complete or partial principal payment or reduction of a LIBOR Advance, or any conversion of any
LIBOR Advance, occurs on a date prior to the last day of an Interest Period applicable to that LIBOR Advance, including due to voluntary or mandatory prepayment or acceleration, then, in each case, Borrower shall compensate Bank, upon written
request by Bank, for all losses and expenses incurred by Bank in an amount equal to the excess, if any, of: 
 (A) the
amount of interest that would have accrued on the amount (1) not borrowed, converted or continued as provided in clause (i) above, or (2) paid, reduced or converted as provided in clause (ii) above, for the period from
(y) the date of such failure to borrow, convert or continue as provided in clause (i) above, or the date of such payment, reduction or conversion as provided in clause (ii) above, as the case may be, to (z) in the case of a
failure to borrow, convert or continue as provided in clause (i) above, the last day of the Interest Period that would have commenced on the date of such borrowing, conversion or continuing but for such failure, and in the case of a payment,
reduction or conversion prior to the last day of an Interest Period applicable to a LIBOR Advance as provided in clause (ii) above, the last day of such Interest Period, in each case at the applicable rate of interest or other return for such
LIBOR Advance(s) provided for herein (excluding, however, the LIBOR Rate Margin included therein, if any), over 
 (B) the
interest which would have accrued to Bank on the applicable amount provided in clause (A) above through the purchase of a Eurodollar deposit bearing interest at the rate obtained pursuant to the definition of LIBOR Rate on the date of such
failure to borrow, convert or continue as provided in clause (i) above, or the date of such payment, reduction or conversion as provided in clause (ii) above, as the case may be, for a period equal to the remaining period of such
applicable Interest Period provided in clause (A) above. 
 Bank’s request shall set forth the manner and method of computing such
compensation and such determination as to such compensation shall be conclusive absent manifest error. 
 (d) Assumptions
Concerning Funding of LIBOR Advances. Calculation of all amounts payable to Bank under this Section 3.7 and under Section 3.8 shall be made as though Bank had actually funded each relevant LIBOR Advance through the purchase of a
Eurodollar deposit bearing interest at the rate obtained pursuant to the definition of LIBOR Rate in an amount equal to the amount of such LIBOR Advance and having a maturity comparable to the relevant Interest Period; provided,

  
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however, that Bank may fund each of its LIBOR Advances in any manner it sees fit and the foregoing assumptions shall be utilized only for the purposes of calculating amounts payable under this
Section 3.7 and under Section 3.8. 
 (e) LIBOR Advances After Default. After the occurrence and during the
continuance of an Event of Default, (i) Borrower may not elect to have an Advance be made or continued as, or converted to, a LIBOR Advance after the expiration of any Interest Period then in effect for such Advance and (ii) subject to the
provisions of Section 3.7(c), any Notice of Conversion/Continuation given by Borrower with respect to a requested conversion/continuation that has not yet occurred shall, at Bank’s option, be deemed to be rescinded by Borrower and be
deemed a request to convert or continue Advances referred to therein as Prime Rate Advances. 
 3.8 Additional Requirements/Provisions
Regarding LIBOR Advances. 
 (a) Borrower shall pay Bank, upon demand by Bank, from time to time such amounts as Bank may
in its reasonable discretion determine to be necessary to compensate it for any costs incurred by Bank that Bank in its reasonable discretion determines are attributable to its making or maintaining of any amount receivable by Bank hereunder in
respect of any LIBOR Advances relating thereto (such increases in costs and reductions in amounts receivable being herein called “Additional Costs”), in each case resulting from any Regulatory Change which: 

(i) changes the basis of taxation of any amounts payable to Bank under this Agreement in respect of any LIBOR Advances (other
than changes which affect taxes measured by or imposed on the overall net income of Bank by the jurisdiction in which Bank has its principal office); 

(ii) imposes or modifies any reserve, special deposit or similar requirements relating to any extensions of credit or other
assets of, or any deposits with, or other liabilities of Bank (including any LIBOR Advances or any deposits referred to in the definition of LIBOR); or 

(iii) imposes any other condition affecting this Agreement (or any of such extensions of credit or liabilities). 

Bank will notify Borrower of any event occurring after the Effective Date which will entitle Bank to compensation pursuant to
this Section 3.8(a) as promptly as practicable after it obtains knowledge thereof and determines to request such compensation. Bank will furnish Borrower with a statement setting forth the basis and amount of each request by Bank for
compensation under this Section 3.8(a). Determinations and allocations by Bank for purposes of this Section 3.8(a) of the effect of any Regulatory Change on its costs of maintaining its obligations to make LIBOR Advances, of making or
maintaining LIBOR Advances, or on amounts receivable by it in respect of LIBOR Advances, and of the additional amounts required to compensate Bank in respect of any Additional Costs, shall be conclusive absent manifest error. 

  
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 (b) If Bank shall determine that the adoption or implementation of any applicable
law, rule, regulation, or treaty regarding capital adequacy, or any change therein, or any change in the interpretation or administration thereof by any governmental authority, central bank, or comparable agency charged with the interpretation or
administration thereof, or compliance by Bank (or its applicable lending office) with any request or directive regarding capital adequacy (whether or not having the force of law) of any such authority, central bank, or comparable agency, has or
would have the effect of reducing the rate of return on capital of Bank or any person or entity controlling Bank (a “Parent”) as a consequence of its obligations hereunder to a level below that which Bank (or its Parent) could have
achieved but for such adoption, change, or compliance (taking into consideration policies with respect to capital adequacy) by an amount deemed by Bank to be material, then from time to time, within five (5) days after demand by Bank, Borrower
shall pay to Bank such additional amount or amounts as will compensate Bank for such reduction. A statement of Bank claiming compensation under this Section 3.8(b) and setting forth the additional amount or amounts to be paid to it hereunder
shall be conclusive absent manifest error. 
 Notwithstanding anything to the contrary in this Section 3.8, Borrower
shall not be required to compensate Bank pursuant to this Section 3.8(b) for any amounts incurred more than nine (9) months prior to the date that Bank notifies Borrower of Bank’s intention to claim compensation therefor;
provided that if the circumstances giving rise to such claim have a retroactive effect, then such nine-month period shall be extended to include the period of such retroactive effect. The obligations of the Borrower arising pursuant to this
Section 3.8(b) shall survive the Revolving Line Maturity Date, the termination of this Agreement and the repayment of all Obligations. 

(c) If, at any time, Bank, in its sole and absolute discretion, determines that (i) the amount of LIBOR Advances for
periods equal to the corresponding Interest Periods are not available to Bank in the offshore currency interbank markets, or (ii) LIBOR does not accurately reflect the cost to Bank of lending the LIBOR Advances, then Bank shall promptly give
notice thereof to Borrower. Upon the giving of such notice, Bank’s obligation to make the LIBOR Advances shall terminate; provided, however, LIBOR Advances shall not terminate if Bank and Borrower agree in writing to a different interest rate
applicable to LIBOR Advances. 
 (d) If it shall become unlawful for Bank to continue to fund or maintain any LIBOR Advances,
or to perform its obligations hereunder, upon demand by Bank, Borrower shall prepay the LIBOR Advances in full with accrued interest thereon and all other amounts payable by Borrower hereunder (including, without limitation, any amount payable in
connection with such prepayment pursuant to Section 3.7(c)(ii)). Notwithstanding the foregoing, to the extent a determination by Bank as described above relates to a LIBOR Advance then being requested by Borrower pursuant to a Notice of
Borrowing or a Notice of Conversion/Continuation, Borrower shall have the option, subject to the provisions of Section 3.7(c)(ii), to (i) rescind such Notice of Borrowing or Notice of Conversion/Continuation by giving notice (by facsimile
or by telephone confirmed in writing) to Bank of such rescission on the date on which Bank gives notice of its determination as described above, or (ii) modify such Notice of Borrowing or 

  
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Notice of Conversion/Continuation to obtain a Prime Rate Advance or to have outstanding Advances converted into or continued as Prime Rate Advances by giving notice (by facsimile or by telephone
confirmed in writing) to Bank of such modification on the date on which Bank gives notice of its determination as described above. 
 2.9
Section 5.4 (Litigation). Section 5.4 of the Loan Agreement is hereby amended in its entirety and replaced with the following: 

5.4 Litigation. 

Except as otherwise disclosed to Bank pursuant to the terms of Section 6.2(i), there are no actions or proceedings pending
or, to the knowledge of the Responsible Officers, threatened in writing by or against Borrower or any of its Subsidiaries that could reasonably be expected to result in damages or costs payable by Borrower or any of its Subsidiaries in an amount
that is more than, individually or in the aggregate, Five Hundred Thousand Dollars ($500,000) (and not covered by independent third-party insurers as to which liability has been accepted by such third-party insurance company). 

2.10 Section 5.8 (Subsidiaries; Investments). Section 5.8 of the Loan Agreement is hereby amended in its entirety and
replaced with the following: 
 5.8 Subsidiaries; Investments. 

Except for (i) equity interests in the Cayman Subsidiary, UK Subsidiary, PRC Subsidiary, New Zealand Subsidiary,
Australian Subsidiary, Dutch Subsidiary, German Subsidiary and French Subsidiary, and (ii) Permitted Investments, Borrower does not own any stock, partnership, or other ownership interest or other equity securities. 

2.11 Section 5.9 (Tax Returns and Payments; Pension Contributions). Section 5.9 of the Loan Agreement is hereby amended in
its entirety and replaced with the following: 
 5.9 Tax Returns and Payments; Pension Contributions. 

Borrower has timely filed all required tax returns and reports (except where the failure to file any such tax return or report
does not result in penalties or other liabilities to Borrower in excess of, individually, Fifty Thousand Dollars ($50,000), or in the aggregate at any time, Two Hundred Thousand Dollars ($250,000), and there are no Liens on any of the Collateral in
favor of a Governmental Authority resulting from the failure to file any such tax return or report except for “Permitted Liens”), and Borrower has timely paid all foreign, federal, state and local taxes, assessments, deposits and
contributions owed by Borrower, except for taxes, assessments, deposits and contributions that do not at any time exceed an amount of, individually, Fifty Thousand Dollars ($50,000), or in the aggregate at any time, Two Hundred Fifty Thousand
Dollars ($250,000) and there are no Liens on any of the Collateral in favor of a Governmental Authority resulting from such unpaid taxes, assessments, deposits and contributions except for “Permitted Liens”. Borrower may defer payment of
any contested taxes, provided that Borrower (i) in good faith contests its obligation to pay the taxes by 

  
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appropriate proceedings promptly and diligently instituted and conducted, (ii) notifies Bank in writing of the commencement of, and any material development in, the proceedings, and
(iii) posts bonds or takes any other steps required to prevent the Governmental Authority levying such contested taxes from obtaining a Lien upon any of the Collateral that is other than a “Permitted Lien.” Borrower is unaware of any
claims or adjustments proposed for any of Borrower’s prior tax years which could result in additional taxes becoming due and payable by Borrower. Borrower has paid all amounts necessary to fund all present pension, profit sharing and deferred
compensation plans in accordance with their terms, and Borrower has not withdrawn from participation in, and has not permitted partial or complete termination of, or permitted the occurrence of any other event with respect to, any such plan which
could reasonably be expected to result in any liability of Borrower, including any liability to the Pension Benefit Guaranty Corporation or its successors or any other governmental agency. 

2.12 Section 6.2 (Financial Statements, Reports, Certificates). Section 6.2 of the Loan Agreement is hereby amended in its
entirety and replaced with the following: 
 6.2 Financial Statements, Reports, Certificates. 

Deliver to Bank: 

(a) Borrowing Base Reports. At all times that Borrower is not Streamline Eligible, within thirty (30) days after
the last day of each month, (i) aged listings of accounts receivable and accounts payable (by invoice date), (ii) a Deferred Revenue report, in form acceptable to Bank, (iii) and sell-through reports (if applicable), in a form
acceptable to Bank in its reasonable discretion (the “Borrowing Base Reports”); 
 (b) Borrowing Base
Certificate. At all times that Borrower is not Streamline Eligible, within thirty (30) days after the last day of each month and together with the Borrowing Base Reports, a duly completed Borrowing Base Certificate signed by a Responsible
Officer; 
 (c) Monthly Financial Statements. At all times that Borrower is not Streamline Eligible, as soon as
available, but no later than thirty (30) days after the last day of each month, a company prepared consolidated and consolidating balance sheet and income statement covering Borrower’s and each of its Subsidiary’s operations for such
month certified by a Responsible Officer and in a form acceptable to Bank in its reasonable discretion (the “Monthly Financial Statements”); 

(d) Monthly Compliance Certificate. At all times that Borrower is not Streamline Eligible, within thirty (30) days
after the last day of each month and together with the Monthly Financial Statements, a duly completed Compliance Certificate signed by a Responsible Officer, certifying that as of the end of such month, Borrower was in full compliance with all of
the terms and conditions of this Agreement (except as otherwise set forth therein), and setting forth calculations showing compliance with the financial covenants set forth in this Agreement and such other information as Bank shall reasonably
request; 

  
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 (e) Quarterly Compliance Certificate. At all times that Borrower is
Streamline Eligible, within forty-five (45) days after the last day of each quarter and together with the latest quarterly SEC Filings (as defined below), a duly completed Compliance Certificate signed by a Responsible Officer, certifying that
as of the end of such quarter, Borrower was in full compliance with all of the terms and conditions of this Agreement (except as otherwise set forth therein), and setting forth calculations showing compliance with the financial covenants set forth
in this Agreement and such other information as Bank shall reasonably request; 
 (f) Annual Audited Financial
Statements. As soon as available, but no later than ninety (90) days after the last day of Borrower’s fiscal year, audited consolidated financial statements prepared under GAAP, consistently applied, together with an unqualified
opinion on the financial statements from an independent certified public accounting firm acceptable to Bank in its reasonable discretion; 

(g) Other Statements. Within five (5) days of delivery, copies of all statements, reports and notices made
available to Borrower’s security holders generally or to any holders of Subordinated Debt; 
 (h) SEC Filings. At
all times that Borrower is subject to the reporting requirements under the Exchange Act, within five (5) Business Days of filing, copies of all periodic and other reports, proxy statements and other materials filed by Borrower (i.e.,
10-Q, 10-K and 8-K) with the SEC, any Governmental Authority succeeding to any or all of the functions of the SEC or with any national securities exchange, or distributed to its shareholders, as the case may be (collectively, the “SEC
Filings”). Documents required to be delivered pursuant to the terms hereof (to the extent any such documents are included in materials otherwise filed with the SEC) may be delivered electronically and if so delivered, shall be deemed to
have been delivered on the date on which the SEC makes such documents publically available or Borrower posts such documents, or provides a link thereto, on Borrower’s website on the Internet at Borrower’s website address; 

(i) Legal Action Notice. A prompt report of any legal actions pending or threatened in writing against Borrower or any
of its Subsidiaries that could reasonably be expected to result in damages or costs to Borrower or any of its Subsidiaries of, individually or in the aggregate, Five Hundred Thousand Dollars ($500,000) or more (and not covered by independent
third-party insurers as to which liability has been accepted by such third-party insurance company); 
 (j) Intellectual
Property Notice. Promptly, but in no event later than forty-five (45) days after the last day of each quarter, written notice to Bank of (i) the registration of any copyright, including any subsequent ownership right of Borrower in or
to any copyright, patent or trademark not previously disclosed in writing to Bank, and (ii) Borrower’s receipt of written notice of an event that could reasonably be expected to materially and adversely affect the value of the Intellectual
Property; 

  
 12 

 (k) Board Approved Projections. As soon as available, but no later than
fifteen (15) days after approval by Borrower’s Board of Directors, balance sheet, income statement projections, and annual financial projections for the following fiscal year approved by Borrower’s Board of Directors and commensurate
in form and substance with those provided to Borrower’s Board of Directors, together with any related business forecasts used in the preparation of such annual financial plans and projections; and 

(l) Other Financial Information. Budgets, sales projections, operating plans and other financial information reasonably
requested by Bank. 
 2.13 Section 6.4 (Taxes; Pensions). Section 6.4 of the Loan Agreement is hereby amended in its
entirety and replaced with the following: 
 6.4 Taxes; Pensions. 

Timely file, and require each of its Subsidiaries to timely file, all required tax returns and reports (except where the failure to file any
such tax return or report does not result in penalties or other liabilities to Borrower in excess of, individually, Fifty Thousand Dollars ($50,000), or in the aggregate at any time, Two Hundred Fifty Thousand Dollars ($250,000), and there are no
Liens on any of the Collateral in favor of a Governmental Authority resulting from the failure to file any such tax return or report except for “Permitted Liens”) and timely pay, and require each of its Subsidiaries to timely pay, all
foreign, federal, state and local taxes, assessments, deposits and contributions owed by Borrower and each of its Subsidiaries, except for (i) taxes, assessments, deposits and contributions that do not at any time exceed an amount of,
individually, Fifty Thousand Dollars ($50,000), or in the aggregate, Two Hundred Fifty Thousand Dollars ($250,000) and there are no Liens on any of the Collateral in favor of a Governmental Authority resulting from such unpaid taxes, assessments,
deposits and contributions except for “Permitted Liens”, and (ii) deferred payment of any taxes contested pursuant to the terms of Section 5.9 hereof, and shall deliver to Bank, on demand, appropriate certificates attesting to
such payments, and pay all amounts necessary to fund all present pension, profit sharing and deferred compensation plans in accordance with their terms. 

2.14 Section 6.5 (Insurance). The fifth sentence of Section 6.5 of the Loan Agreement is hereby amended in its entirety and
replaced with the following: 
 All policies (or their respective endorsements) shall provide that the insurer shall give Bank at least
(i) thirty (30) days notice before canceling, or amending its policy, (ii) ten (10) days notice in the case of nonpayment of premium and (iii) ten (10) days notice before the expiration of the policy after the insurer
declines to renew its policy. 
 2.15 Section 6.6 (Operating Accounts). Reference is made to Section 2.2 of that certain
Fourth Amendment to Loan and Security Agreement dated April 4, 2014 by and between Bank and Borrower (the “Fourth Amendment”) which incorrectly referred to Section 6.6 of the Loan Agreement (Operating and Investment
Accounts) as Section 6.8 of the Loan 

  
 13 

 
Agreement. In furtherance of the foregoing and for purposes of clarification, Bank and Borrower hereby agree that the Operating Accounts section as described in Section 2.2 of the Fourth
Amendment effectively amended Section 6.6 of the Loan Agreement (Operating and Investment Accounts) and not Section 6.8 of the Loan Agreement (Protection of Intellectual Property Rights) and that all of the terms of Section 6.8 of the
Loan Agreement (Protection of Intellectual Property Rights) remain in full force and effect without having been deemed amended or modified in any way by the Fourth Amendment. Notwithstanding anything to the contrary herein, Section 6.6 of the
Loan Agreement (Operating Accounts), as amended pursuant to the terms in Section 2.2 of the Fourth Amendment, is hereby amended in its entirety and replaced with the following: 

6.6 Operating and Investment Accounts. 

(a) Maintain all of its primary operating and investment accounts with Bank and Bank’s Affiliates and conduct all of its
primary domestic banking services and foreign currency exchange and letters of credit through Bank and Bank’s Affiliates. 

(b) Provide Bank five (5) days prior written notice before establishing any Collateral Account at or with any bank or
financial institution other than Bank or Bank’s Affiliates. For each Collateral Account that Borrower at any time maintains, Borrower shall cause the applicable bank or financial institution (other than Bank) at or with which any Collateral
Account is maintained to execute and deliver a Control Agreement or other appropriate instrument with respect to such Collateral Account to perfect Bank’s Lien in such Collateral Account in accordance with the terms hereunder which Control
Agreement may not be terminated without the prior written consent of Bank. The provisions of the previous sentence shall not apply to deposit accounts exclusively used for payroll, payroll taxes and other employee wage and benefit payments to or for
the benefit of Borrower’s employees and identified to Bank by Borrower as such. 
 2.16 Section 6.7 (Financial Covenants).
Section 6.7 of the Loan Agreement is hereby amended in its entirety and replaced with the following: 
 6.7 Financial Covenants.

 Maintain at all times, to be tested as of the last day of each month, unless otherwise noted, on a consolidated basis
with respect to Borrower and its Subsidiaries: 
 (a) Adjusted Quick Ratio. An Adjusted Quick Ratio of at least 1.25
to 1.00. 
 2.17 Section 6.10 (Access to Collateral; Books and Records). The second sentence of Section 6.10 of the Loan
Agreement is hereby amended in its entirety and replaced with the following: 
 Such inspections or audits shall be conducted no more often
than once every twelve (12) months (or as more frequently as Bank shall determine conditions warrant based on the results of field examinations, in its sole discretion) unless an Event of Default has occurred and is continuing. 

  
 14 

 2.18 Section 7.2 (Changes in Business, Management, Ownership, or Business Locations).
Clause (c)(i) in the first paragraph of Section 7.2 is hereby amended in its entirety and replaced with the following: 

(c)(i) [Reserved]; 

2.19 Section 7.2 (Changes in Business, Management, Ownership, or Business Locations). The second sentence in the second paragraph
of Section 7.2 is hereby amended in its entirety and replaced with the following: 
 If Borrower intends to deliver any
portion of the Collateral (other than Inventory in transit in the ordinary course of business) valued, individually or in the aggregate, in excess of Five Hundred Thousand Dollars ($500,000) to a bailee in the United States, and Bank and such bailee
are not already parties to a bailee agreement governing both the Collateral and the location to which Borrower intends to deliver the Collateral, then Borrower will first receive the written consent of Bank, and Borrower shall use commercially
reasonable efforts to cause such bailee to execute and deliver a bailee agreement in form and substance satisfactory to Bank in its sole discretion. 

2.20 Section 7.7 (Distributions; Investments). Section 7.7 of the Loan Agreement is hereby amended in its entirety and
replaced with the following: 
 7.7 Distributions; Investments. 

(a) Pay any dividends or make any distribution or payment or redeem, retire or purchase any capital stock, provided that
(i) Borrower may convert any of its convertible securities into other securities pursuant to the terms of such convertible securities or otherwise in exchange thereof, (ii) Borrower may pay dividends solely in common stock; and
(iii) Borrower may repurchase (with such amount to include any withholding taxes) the stock of former directors, officers, employees or consultants pursuant to stock repurchase agreements so long as an Event of Default does not exist at the
time of such repurchase and would not exist after giving effect to such repurchase, provided (A) such repurchase does not exceed Fifteen Million Dollars ($15,000,000) in the aggregate per fiscal year and (B) after such repurchase Borrower
is in pro forma compliance with the financial covenant set forth in Section 6.7 above, on the closing date of each such repurchase, and on a projected twelve (12) month basis; or (b) directly or indirectly make any Investment other
than Permitted Investments, or permit any of its Subsidiaries to do so. 

  
 15 

 2.21 Section 8.7 (Judgments). Section 8.7 of the Loan Agreement is hereby
amended in its entirety and replaced with the following: 
 8.7 Judgments. 

One or more final judgments, orders, or decrees for the payment of money in an amount, individually or in the aggregate, of at
least Five Hundred Thousand Dollars ($500,000) (unless such matter is adequately covered by independent third-party insurance as to which liability has been accepted by such insurance carrier or undertaken the defense thereof subject only to
customary reservation of rights) shall be rendered against Borrower and the same are not, within ten (10) days after the entry thereof, discharged or execution thereof stayed or bonded pending appeal, or such judgments are not discharged prior
to the expiration of any such stay (provided that no Credit Extensions will be made prior to the discharge, stay, or bonding of such judgment, order, or decree); 

2.22 Section 8.13 (Cross-Default with TriplePoint Loan Documents). Effective immediately after the consummation of the TriplePoint
Payoff, Section 8.13 of the Loan Agreement is hereby amended in its entirety and replaced with the following: 
 8.13
[Reserved]. 
 2.23 Section 10 (Notices). The address and contact information of Borrower and Bank set forth in
Section 10 of the Loan Agreement are amended in their entirety and replaced with the following: 
  

			
	 If to Borrower:
		Aerohive Networks, Inc.
			330 Gibraltar Drive
			Sunnyvale, California 94089
			Attn: Chief Financial Officer
			Email: gbrooks@aerohive.com
		
	 If to Bank:
		Silicon Valley Bank
			555 Mission Street, Suite 900
			San Francisco, California 94105
			Attn: Alina Zinchik, Vice President
			Email: azinchik@svb.com

 2.24 Section 13 (Definitions). 

(a) The following terms and their respective definitions set forth in Section 13.1 of the Loan Agreement are hereby amended in their
entirety and replaced with the following: 
 “Availability Amount” is (A) the lesser of (x) the
Revolving Line or (y) the amount available under the Aggregate Borrowing Base, minus (B) the outstanding principal balance of any and all Formula Advances. 

“Business Day” is any day that is not a Saturday, Sunday or other day on which banking institutions in the
State of California are authorized or required by law or other governmental action to close, except that if any determination of a “Business Day” shall relate to a LIBOR Advance, the term “Business Day” shall also mean a day on
which dealings are carried on in the London interbank market. 

  
 16 

 “Default Rate” is defined in Section 2.3(e). 

“Designated Deposit Account” is the multicurrency account denominated in Dollars, account number (last three
digits) 575, maintained by Borrower with Bank. 
 “Foreign Borrowing Base” is seventy percent (70%) of
Eligible Foreign Accounts, as determined by Bank from Borrower’s most recent Borrowing Base Certificate; provided, however, that Bank may decrease the foregoing percentage in its good faith business judgment based on events, conditions,
contingencies, or risks which, as determined by Bank, may adversely affect Collateral. 
 “Loan Documents”
are, collectively, this Agreement, the Perfection Certificate, any Bank Services Agreement, the Floating Charge, any subordination agreement, any note, or notes or guaranties executed by Borrower, and any other present or future agreement between
Borrower and/or for the benefit of Bank in connection with this Agreement, all as amended, restated, or otherwise modified. 

“Non-Formula Amount” is, at all times that Borrower is Streamline Eligible, an aggregate amount not to exceed
Twenty Million Dollars ($20,000,000), and at all other times, an aggregate amount not to exceed Ten Million Dollars ($10,000,000). 

“Permitted Acquisition” means any Acquisition (whether by purchase, merger, consolidation or otherwise) or
series of related Acquisitions by Borrower or Borrower’s Subsidiaries of all or substantially all of the capital stock, ownership interest or property of another Person in which: (a) the Borrower’s board of directors has approved;
(b) the Person so acquired is in a similar line of business or a business reasonably related thereto; (c) the Borrower is the sole surviving corporation; (d) total cash consideration for all Acquisitions during any fiscal year does
not exceed Fifteen Million Dollars ($15,000,000); (e) the Acquisition is not a hostile acquisition; (f) at the time of the Acquisition and after giving effect to the Acquisition, there shall not exist any Event of Default under this
Agreement or any of the Loan Documents; and (g) Borrower is in pro forma compliance with the financial covenant set forth in Section 6.7 of this Agreement, on the closing date of each Permitted Acquisition, and on a projected twelve
(12) month basis. 
 “Prime Rate” is the rate of interest per annum from time to time published in the
money rates section of The Wall Street Journal or any successor publication thereto as the “prime rate” then in effect; provided that if such rate of interest, as set forth from time to time in the money rates section of The Wall
Street Journal, becomes unavailable for any reason as determined by Bank, the “Prime Rate” shall mean the rate of interest per annum announced by Bank as its prime rate in effect at its principal office in the State of California (such
Bank announced Prime Rate not being intended to be the lowest rate of interest charged by Bank in connection with extensions of credit to debtors). 

  
 17 

 “Revolving Line” is an Advance or Advances in an amount equal to
Twenty Million Dollars ($20,000,000). 
 “Revolving Line Maturity Date” is March 31, 2017. 

(b) Effective immediately after the consummation of the TriplePoint Payoff, clause (j) of the definition of “Permitted
Indebtedness” set forth in Section 13.1 of the Loan Agreement is hereby amended in its entirety and replaced with the following: 

(j) [Reserved]. 

(c) Clause (h) of the definition of “Permitted Indebtedness” set forth in Section 13.1 of the Loan Agreement is
hereby amended in its entirety and replaced with the following: 
 (h) other Indebtedness not otherwise permitted by
Section 7.4 not exceeding Five Hundred Thousand Dollars ($500,000) in the aggregate outstanding at any time; and 
 (d) Clauses
(f) and (k) of the definition of “Permitted Investments” set forth in Section 13.1 of the Loan Agreement are hereby amended in their entirety and replaced with the following: 

(f) Investments (i) by Borrower in Subsidiaries not to exceed Five Hundred Thousand Dollars ($500,000) in the aggregate in
any fiscal year and (ii) by Subsidiaries in other Subsidiaries or in Borrower; 
 (k) provided no Event of Default has
occurred and is continuing, other Investments not otherwise permitted by Section 7.7 not exceeding One Million Dollars ($1,000,000) in the aggregate outstanding in any fiscal year. 

(e) The definition of “Permitted Investments” set forth in Section 13.1 of the Loan Agreement is hereby amended by
adding clause (l) in its entirety immediately after clause (k) of the definition as follows: 
 (l) (i) Permitted
Acquisitions and (ii) Investments consisting of the creation of a Subsidiary for the purpose of consummating a merger transaction permitted by Section 7.3 of this Agreement which is otherwise a Permitted Investment. 

(f) Clauses (c) and (d) of the definition of “Permitted Liens” set forth in Section 13.1 of the Loan Agreement
are hereby amended in their entirety and replaced with the following: 
 (c) purchase money Liens (i) on Equipment (and
any attachments, accessions, parts, replacements, or improvements thereon and the proceeds thereof) acquired or held by Borrower incurred for financing the acquisition of the Equipment securing no more than Five Hundred Thousand Dollars ($500,000)
in the aggregate amount outstanding, or (ii) existing on Equipment when acquired, if the Lien is confined to the property and improvements and the proceeds of the Equipment; 

  
 18 

 (d) Liens of mechanics, carriers, warehousemen, suppliers, or other similar
Persons that are possessory in nature arising in the ordinary course of business so long as such Liens attach only to Inventory, securing liabilities in the aggregate amount not to exceed Two Hundred Fifty Thousand Dollars ($250,000) and which are
not delinquent or remain payable without penalty or which are being contested in good faith and by appropriate proceedings which proceedings have the effect of preventing the forfeiture or sale of the property subject thereto; 

(g) Effective immediately after the consummation of the TriplePoint Payoff, clause (l) of the definition of “Permitted
Liens” set forth in Section 13.1 of the Loan Agreement is hereby amended in its entirety and replaced with the following: 

(l) [Reserved]. 

(h) The following terms and their respective definitions are hereby added in alphabetical order to Section 13.1 of the Loan Agreement:

 “Adjusted Quick Ratio” means, as of the date of determination, a ratio of (a) Quick Assets to
(b) (i) Current Liabilities minus the current portion of Deferred Revenue, plus (without duplication) (ii) all Consolidated Funded Indebtedness. 

“Authorized Signer” is any individual listed in Borrower’s Borrowing Resolution who is authorized to
execute the Loan Documents, including any Notice of Borrowing or other Advance request, on behalf of Borrower. 

“Consolidated Funded Indebtedness” means, as of any date of determination, for the Borrower and its
Subsidiaries on a consolidated basis, the sum (without duplication) of (a) the outstanding principal amount of all Indebtedness, whether current or long-term, for borrowed money and all obligations and indebtedness evidenced by bonds,
debentures, notes, loan agreements or other similar instruments, (b) all purchase money Indebtedness, (c) the face amount of all outstanding letters of credit (including standby and commercial), and all Indebtedness arising under
bankers’ acceptances, bank guaranties, surety bonds and similar instruments, (d) all Indebtedness in respect of the deferred purchase price of property or services (other than trade accounts payable in the ordinary course of business),
(e) Indebtedness in respect of capital leases and synthetic lease obligations, (f) without duplication, all guarantees with respect to outstanding Indebtedness of the types specified in clauses (a) through (e) above of Persons
other than the Borrower or any Subsidiary, and (g) all Indebtedness of the types referred to in clauses (a) through (f) above of any partnership or joint venture (other than a joint venture that is itself a corporation or limited
liability company) in which the Borrower or a Subsidiary is a general partner or joint venturer, unless such Indebtedness is expressly made non-recourse to the Borrower or such Subsidiary. 

“Continuation Date” means any date on which Borrower continues a LIBOR Advance into another Interest Period.

  
 19 

 “Conversion Date” means any date on which Borrower converts a
Prime Rate Advance to a LIBOR Advance or a LIBOR Advance to a Prime Rate Advance. 
 “Current Liabilities”
are all Obligations of Borrower to Bank, plus, without duplication, the aggregate amount of Borrower’s Total Liabilities that mature within one (1) year. 

“Dutch Subsidiaries” mean Aerohive Networks Netherlands Cooperatief U.A. (Dutch Co-Op) and Aerohive Networks
Netherlands B.V., companies registered under the laws of the Netherlands and a wholly-owned Subsidiary of Borrower. 

“Eligible Foreign Accounts” are Accounts for which the Account Debtor does not have its principal place of
business in the United States and which (a) otherwise satisfy the definition of Eligible Accounts, and (b) are billed and collected in the United States 

“Fifth Amendment Effective Date” means March 31, 2015. 

“French Subsidiary” means a company expected to be registered under the laws of France and a wholly-owned
Subsidiary of Borrower. 
 “German Subsidiary” means a company expected to be registered under the laws of
Germany and a wholly-owned Subsidiary of Borrower. 
 “Interest Payment Date” means, with respect to any
LIBOR Advance, the last day of each Interest Period applicable to such LIBOR Advance and, with respect to Prime Rate Advances, the first day of each month (or, if that day of the month does not fall on a Business Day, then on the first Business Day
following such date), and each date a Prime Rate Advance is converted into a LIBOR Advance to the extent of the amount converted to a LIBOR Advance. 

“Interest Period” means, as to any LIBOR Advance, the period commencing on the date of such LIBOR Advance, or
on the conversion/continuation date on which the LIBOR Advance is converted into or continued as a LIBOR Advance, and ending on the date that is one, two, three, or six months thereafter, in each case as Borrower may elect in the applicable Notice
of Borrowing or Notice of Conversion/Continuation; provided, however, that (a) no Interest Period with respect to any LIBOR Advance shall end later than the Revolving Line Maturity Date, (b) the last day of an Interest Period shall be
determined in accordance with the practices of the LIBOR interbank market as from time to time in effect, (c) if any Interest Period would otherwise end on a day that is not a Business Day, that Interest Period shall be extended to the
following Business Day unless, in the case of a LIBOR Advance, the result of such extension would be to carry such Interest Period into another calendar month, in which event such Interest Period shall end on the preceding Business Day, (d) any
Interest Period pertaining to a LIBOR Advance that begins on the last Business Day of a calendar month (or on a day for which there is no numerically corresponding day in the calendar month at the end of such Interest Period) shall end on the last
Business Day of the calendar month at the end of such Interest Period, and (e) interest shall accrue from and include the first Business Day of an Interest Period but exclude the last Business Day of such Interest Period. 

  
 20 

 “Interest Rate Determination Date” means each date for
calculating the LIBOR for purposes of determining the interest rate in respect of an Interest Period. The Interest Rate Determination Date shall be the second Business Day prior to the first day of the related Interest Period for a LIBOR Advance.

 “LIBOR” means, for any Interest Rate Determination Date with respect to an Interest Period for any
Advance to be made, continued as or converted into a LIBOR Advance, the rate of interest per annum determined by Bank to be the per annum rate of interest at which deposits in Dollars are offered to Bank in the London interbank market (rounded
upward, if necessary, to the nearest 0.0001%) in which Bank customarily participates at 11:00 a.m. (local time in such interbank market) two (2) Business Days prior to the first day of such Interest Period for a period approximately equal to
such Interest Period and in an amount approximately equal to the amount of such Advance. 
 “LIBOR Advance”
means an Advance that bears interest based at the LIBOR Rate. 
 “LIBOR Rate” means, for each Interest
Period in respect of LIBOR Advances comprising part of the same Advances, an interest rate per annum (rounded upward, if necessary, to the nearest 0.0001%) equal to LIBOR for such Interest Period divided by one (1) minus the Reserve Requirement
for such Interest Period. 
 “LIBOR Rate Margin” is two and one-quarter of one percent (2.25%). 

“Minimum Interest” is defined in Section 2.3(g). 

“Minimum Interest Period” is defined in Section 2.3(g). 

“Net Cash” is, as of the date of determination, the sum of all of Borrower’s unrestricted cash maintained
at Bank less short and long term outstanding Indebtedness. 
 “Notice of Borrowing” means a notice given by
Borrower to Bank in accordance with Section 3.5(a), substantially in the form of Exhibit F, with appropriate insertions. 

“Notice of Conversion/Continuation” means a notice given by Borrower to Bank in accordance with
Section 3.6, substantially in the form of Exhibit G, with appropriate insertions. 
 “Prime Rate
Advance” means an Advance that bears interest based at the Prime Rate. 
 “Prime Rate Margin” is
one-half of one percent (0.50%). 

  
 21 

 “Quick Assets” is, on any date, Borrower’s and its
Subsidiaries’ consolidated, unrestricted cash and Cash Equivalents maintained with Bank, plus net billed accounts receivable. 

“Regulatory Change” means, with respect to Bank, any change on or after the date of this Agreement in United
States federal, state, or foreign laws or regulations, including Regulation D, or the adoption or making on or after such date of any interpretations, directives, or requests applying to a class of lenders including Bank, of or under any United
States federal or state, or any foreign laws or regulations (whether or not having the force of law) by any court or governmental or monetary authority charged with the interpretation or administration thereof. 

“Reserve Requirement” means, for any Interest Period, the average maximum rate at which reserves (including
any marginal, supplemental, or emergency reserves) are required to be maintained during such Interest Period under Regulation D against “Eurocurrency liabilities” (as such term is used in Regulation D) by member banks of the Federal
Reserve System. Without limiting the effect of the foregoing, the Reserve Requirement shall reflect any other reserves required to be maintained by Bank by reason of any Regulatory Change against (a) any category of liabilities which includes
deposits by reference to which the LIBOR Rate is to be determined as provided in the definition of LIBOR or (b) any category of extensions of credit or other assets which include Advances. 

“SEC Filings” is defined in Section 6.2(h). 

“Streamline Eligible” means, at all times that Borrower’s Net Cash is greater than or equal to Fifty
Million Dollars ($50,000,000) and no Event of Default has occurred and is continuing; provided, however, if Borrower’s Net Cash is less than Fifty Million Dollars ($50,000,000) on any day, Borrower will not be Streamline Eligible until such
time as Bank confirms that Borrower’s Net Cash was greater than or equal to Fifty Million Dollars ($50,000,000) at all times during the immediately preceding full calendar month. A period in which Borrower is Streamline Eligible (other than one
commencing on the Fifth Amendment Effective Date, if applicable) may only commence on the first (1st) day of a calendar month. 

“Total Liabilities” is on any day, obligations that should, under GAAP, be classified as liabilities on
Borrower’s and its Subsidiaries’ consolidated balance sheets, but excluding all Subordinated Debt (if any). 
 (i) The defined
terms “EXIM Advance”, “EXIM Bank”, “EXIM Borrower Agreement”, “EXIM Effective Date”, “EXIM Eligible Foreign Accounts”, “EXIM Loan Agreement”,
“EXIM Loan Documents”, “Export Order”, “Liquidity Ratio”, and “Key Person”, and their respective definitions as set forth in Section 13.1 of the Loan Agreement are hereby
deleted in their entirety and all occurrences of and references to such terms in the Loan Agreement are hereby deleted in their entirety and from and after the date hereof shall be of no further force and effect under the Loan Agreement. 

  
 22 

 (j) Effective immediately after the consummation of the TriplePoint Payoff, the defined terms
“TriplePoint”, “TriplePoint Indebtedness”, “TriplePoint Loan Documents”, and “TriplePoint Subordination Agreement”, and their respective definitions as set forth in
Section 13.1 of the Loan Agreement are hereby deleted in their entirety and all occurrences of and references to such terms in the Loan Agreement are hereby deleted in their entirety and from and after the date hereof shall be of no further
force and effect under the Loan Agreement. 
 2.25 Payment/Advance Form. The Payment/Advance Form attached to the Loan Agreement as
Exhibit B is amended in its entirety and replaced with the Payment/Advance Form in the form of Exhibit B attached hereto. From and after the Fifth Amendment Effective Date, all references in the Loan Agreement to the
Payment/Advance Form shall mean the Payment/Advance Form in the form attached hereto as Exhibit B. 
 2.26 Borrowing Base
Certificate. The Borrowing Base Certificate attached to the Loan Agreement as Exhibit C is amended in its entirety and replaced with the Borrowing Base Certificate in the form of Exhibit C attached hereto. From and after the
Fifth Amendment Effective Date, all references in the Loan Agreement to the Borrowing Base Certificate shall mean the Borrowing Base Certificate in the form attached hereto as Exhibit C. 

2.27 Compliance Certificate. The Compliance Certificate attached to the Loan Agreement as Exhibit D is amended in its entirety
and replaced with the Compliance Certificate attached hereto as Exhibit D. From and after the Fifth Amendment Effective Date, all references in the Loan Agreement to the Compliance Certificate shall mean the Compliance Certificate in the form
attached hereto as Exhibit D. 
 2.28 Notice of Borrowing. From and after the Fifth Amendment Effective Date,
Exhibit F (Form of Notice of Borrowing) is hereby added to the Loan Agreement in its entirety in the form attached hereto as Exhibit F. From and after the Fifth Amendment Effective Date, all references in the Loan Agreement to the
Notice of Borrowing shall mean the Loan Supplement in the form attached hereto as Exhibit F. 
 2.29 Notice of
Conversion/Continuation. From and after the Fifth Amendment Effective Date, Exhibit G (Form of Notice of Conversion/Continuation) is hereby added to the Loan Agreement in its entirety in the form attached hereto as Exhibit G.
From and after the Fifth Amendment Effective Date, all references in the Loan Agreement to the Notice of Conversion/Continuation shall mean the Notice of Conversion/Continuation in the form attached hereto as Exhibit G. 

3. Limitation of Amendments. 

3.1 The amendments set forth in Section 2, above, are effective for the purposes set forth herein and shall be limited precisely as
written and shall not be deemed to (a) be a consent to any amendment, waiver or modification of any other term or condition of any Loan Document, or (b) otherwise prejudice any right or remedy which Bank may now have or may have in the
future under or in connection with any Loan Document. 

  
 23 

 3.2 This Amendment shall be construed in connection with and as part of the Loan Documents
and all terms, conditions, representations, warranties, covenants and agreements set forth in the Loan Documents, except as herein amended, are hereby ratified and confirmed and shall remain in full force and effect. 

3.3 In addition to those Events of Default specifically enumerated in the Loan Documents, the failure to comply with the terms of any
covenant or agreement contained herein shall constitute an Event of Default and shall entitle the Bank to exercise all rights and remedies provided to the Bank under the terms of any of the other Loan Documents as a result of the occurrence of the
same. 
 4. Representations and Warranties. To induce Bank to enter into this Amendment, Borrower hereby represents and warrants to
Bank as follows: 
 4.1 Immediately after giving effect to this Amendment (a) the representations and warranties contained in
the Loan Documents are true, accurate and complete in all material respects as of the date hereof (except to the extent such representations and warranties relate to an earlier date, in which case they are true and correct as of such date), and
(b) no Event of Default has occurred and is continuing; 
 4.2 Borrower has the power and authority to execute and deliver this
Amendment and to perform its obligations under the Loan Agreement, as amended by this Amendment; 
 4.3 The organizational documents
of Borrower delivered to Bank on April 4, 2014 remain true, accurate and complete and have not been amended, supplemented or restated and are and continue to be in full force and effect; 

4.4 The execution and delivery by Borrower of this Amendment and the performance by Borrower of its obligations under the Loan
Agreement, as amended by this Amendment, have been duly authorized; 
 4.5 The execution and delivery by Borrower of this Amendment
and the performance by Borrower of its obligations under the Loan Agreement, as amended by this Amendment, do not and will not contravene (a) any law or regulation binding on or affecting Borrower, (b) any contractual restriction with a
Person binding on Borrower, (c) any order, judgment or decree of any court or other governmental or public body or authority, or subdivision thereof, binding on Borrower, or (d) the organizational documents of Borrower; 

4.6 The execution and delivery by Borrower of this Amendment and the performance by Borrower of its obligations under the Loan
Agreement, as amended by this Amendment, do not require any order, consent, approval, license, authorization or validation of, or filing, recording or registration with, or exemption by any governmental or public body or authority, or subdivision
thereof, binding on Borrower, except as already has been obtained or made; and 
 4.7 This Amendment has been duly executed and
delivered by Borrower and is the binding obligation of Borrower, enforceable against Borrower in accordance with its terms, 

  
 24 

 
except as such enforceability may be limited by bankruptcy, insolvency, reorganization, liquidation, moratorium or other similar laws of general application and equitable principles relating to
or affecting creditors’ rights. 
 5. Integration. This Amendment and the Loan Documents represent the entire agreement about
this subject matter and supersede prior negotiations or agreements. All prior agreements, understandings, representations, warranties, and negotiations between the parties about the subject matter of this Amendment and the Loan Documents merge into
this Amendment and the Loan Documents. 
 6. Counterparts. This Amendment may be executed in any number of counterparts and
all of such counterparts taken together shall be deemed to constitute one and the same instrument. 
 7. Effectiveness. This
Amendment shall be deemed effective as of the Fifth Amendment Effective Date upon (a) the due execution and delivery to Bank of this Amendment by each party hereto, (b) the due execution and delivery to Bank of the Perfection Certificate
of Borrower dated of even date herewith, (c) the duly executed signatures to the completed Borrowing Resolutions for Borrower dated of even date herewith, and (d) Bank’s receipt of evidence satisfactory to Bank that the insurance
policies and endorsements required by Section 6.5 of the Loan Agreement are in full force and effect, together with appropriate evidence showing lender loss payable and/or additional insured clauses or endorsements in favor of Bank. 

[Signature page follows.] 

  
 25 

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

			
	BORROWER:
	
	AEROHIVE NETWORKS, INC.
		
	By:	 	 /s/ Gordon C. Brooks

	Name: 	 	Gordon C. Brooks
	Title:	 	Senior Vice President and Chief Financial Officer
	
	BANK:
	
	SILICON VALLEY BANK
		
	By:	 	 /s/ Alina Zinchik

	Name: 	 	Alina Zinchik
	Title:	 	Vice President

  
 [Signature Page to 5th Amendment to Loan and Security Agreement] 

 EXHIBIT B – LOAN PAYMENT/ADVANCE REQUEST FORM 

DEADLINE FOR SAME DAY PROCESSING IS
NOON PACIFIC TIME* 
  

			
	Fax To:		Date:                     

  

									
	LOAN PAYMENT:		 		 		 		 
	 	 
	Borrower: AEROHIVE NETWORKS, INC.		 
	 		 
	From Account #                       
                                         
  		To Account #                                
                                     		 
	 		(Deposit Account #)				 (Loan Account #)
		 
	 		 
	Principal $
                                         
                                  		and/or Interest $                               
                                  		 
	 		 
	Authorized Signature:
                                         
              		
Phone Number:                         
                         
		 
	 			 
	Print Name/Title:
                                         
                       						 
	 								 
	
	 
	LOAN ADVANCE:
	 
	
Complete Outgoing Wire Request section below if all or a portion of the funds from this loan advance are for an outgoing
wire.

	 		 
	From Account #                       
                                         
 		To Account #                                
                                         
		 
	 		(Loan Account #)				 (Deposit Account #)
		 
	 			 
	Amount of Advance $
                                         
             						 
	 
	All Borrower’s representations and warranties in the Loan and Security Agreement are true, correct and
complete in all material respects on the date of the request for an advance; provided, however, that such materiality qualifier shall not be applicable to any representations and warranties that already are qualified or modified by materiality in
the text thereof; and provided, further that those representations and warranties expressly referring to a specific date shall be true, accurate and complete in all material respects as of such date:
	 		 
	Authorized Signature:
                                         
              		
Phone Number:                         
                         
		 
	 			 
	Print Name/Title:
                                         
                       						 
	 								 
	 	 	 	    	 	 	 	 	 
	OUTGOING WIRE REQUEST:		 		 		 
	 	 
	Complete only if all or a portion of funds from the loan advance above is to be wired.		 
	 	 
	Deadline for same day processing is noon, Pacific Time		 
	 	 
	Beneficiary Name:
                                         
               		Amount of Wire: $                     
                                         
        
	 	 
	Beneficiary Bank:
                                         
                 		Account Number:                       
                                         
        
	 			 
	City and State:
                                         
                     						 
	 	 
	Beneficiary Bank Transit (ABA) #:
                           		Beneficiary Bank Code (Swift, Sort, Chip, etc.):
                    
	 				 (For International Wire Only)
		 
	 	 
	Intermediary Bank:
                                         
             		Transit (ABA) #:
                                         
                               
	 
	For Further Credit to:
____________________________________________________________________________________
	 
	Special Instruction: 
_____________________________________________________________________________________
	 	 
	By signing below, I (we) acknowledge and agree that my (our) funds transfer request shall be processed in accordance with and subject to the terms and conditions
set forth in the agreements(s) covering funds transfer service(s), which agreements(s) were previously received and executed by me (us).		 
	 		 
	Authorized Signature:
                                         
                		2nd Signature (if required):
                                         
		 
	 		 
	Print Name/Title:
                                         
                          		Print Name/Title:
                                         
                		 
	 		 
	 Telephone #:
                                         
                                

 
		Telephone #:
                                         
                       		 

  

	*	Unless otherwise provided for an Advance bearing interest at LIBOR. 

 EXHIBIT C - BORROWING BASE CERTIFICATE 

 
  
  

			
	
Borrower:                        
Aerohive Networks, Inc.
		
	Lender:                            Silicon Valley Bank		
	Commitment Amount:        $20,000,000
		
	ACCOUNTS RECEIVABLE		
	 1.        Accounts Receivable (invoiced) Book Value as of
                    
		$                    
	 2.        Additions (Please explain on next page)
		$                    
	 3.        Less: Intercompany / Employee / Non-Trade Accounts
		$                    
	 4.        NET TRADE ACCOUNTS RECEIVABLE
		$                    
		
	ACCOUNTS RECEIVABLE DEDUCTIONS (without duplication)		
	 5.        Affiliate Accounts
		$                    
	 6.        90 Days Past Invoice Date
		$                    
	 7.        Credit Balances over 90 Days
		$                    
	 8.        Balance of 50% over 90 Day Accounts (Cross-Age or Current Affected)
		$                    
	 9.        Foreign Account Debtor Accounts
		$                    
	 10.      Foreign Invoiced and/or Collected Accounts
		$                    
	 11.      Contra / Customer Deposit Accounts
		$                    
	 12.      U.S. Government Accounts
		$                    
	 13.      Promotion or Demo Accounts; Guaranteed Sale or Consignment Sale Accounts
		$                    
	 14.      Accounts with Memo or Pre-Billings
		$                    
	 15.      Contract Accounts; Accounts with Progress / Milestone Billings
		$                    
	 16.      Accounts for Retainage Billings
		$                    
	 17.      Trust / Bonded Accounts
		$                    
	 18.      Bill and Hold Accounts
		$                    
	 19.      Unbilled Accounts
		$                    
	 20.      Non-Trade Accounts (If not already deducted above)
		$                    
	 21.      Accounts with Extended Term Invoices (Net 90+)
		$                    
	 22.      Chargebacks Accounts / Debit Memos
		$                    
	 23.      Product Returns / Exchanges
		$                    
	 24.      Disputed Accounts; Insolvent Account Debtor Accounts
		$                    
	 25.      Other (Please explain on next page)
		$                    
	 26.      Concentration Limits
		$                    
	 27.      TOTAL ACCOUNTS RECEIVABLE DEDUCTIONS
		$                    
		
	 28.      Eligible Accounts (#4 minus #27)
		$                    
	 29.      ELIGIBLE AMOUNT OF ACCOUNTS (80% of #28)
		$                    
		
	ELIGIBLE FOREIGN ACCOUNTS		
	 30.      Eligible Foreign Accounts as of
                    
		$                    
	 31.      ELIGIBLE AMOUNT OF ELIGIBLE FOREIGN ACCOUNTS (70% of #30)
		$                    
		
	BALANCES		
	 32.      Maximum Loan Amount
		$20,000,000
	 33.      Total Funds Available [Lesser of #32 or (#29 plus #31)]
		$                    
	 34.      Present balance owing on Line of Credit (including any outstanding Non-Formula
Advances)
		$                    
	 35.      RESERVE POSITION (#33 minus #34)
		$                    

 [Continued on following page.] 

 Explanatory comments from previous page: 

 

	
	
	  

	
	  

	
	  

 The undersigned represents and warrants on behalf of Borrower that this is true, complete and correct, and that the
information in this Borrowing Base Certificate complies with the representations and warranties in the Loan and Security Agreement between the undersigned and Silicon Valley Bank. 

 

									
							BANK USE ONLY
			 	 
	COMMENTS:				Received by:		  

									    AUTHORIZED SIGNER
							Date:		  

	By:		  
				Verified:		  

			    Authorized Signer						    AUTHORIZED SIGNER
				 	 
	Date:		  
				Date:		  

							 Compliance Status:
    Yes     No
  

 EXHIBIT D 

COMPLIANCE CERTIFICATE 
  

					
	TO:	  	SILICON VALLEY BANK	  	Date:                    
	FROM:	  	AEROHIVE NETWORKS, INC.	  	

 The undersigned authorized officer of Aerohive Networks, Inc. (“Borrower”) certifies on behalf of Borrower and not
in any individual capacity that under the terms and conditions of the Loan and Security Agreement between Borrower and Bank (the “Agreement”): 

(1) Borrower is in complete compliance for the period ending
                     with all required covenants except as noted below; (2) no Events of Default have occurred and are continuing; (3) all
representations and warranties in the Agreement are true and correct in all material respects on this date except as noted below; provided, however, that such materiality qualifier shall not be applicable to any representations and warranties that
already are qualified or modified by materiality in the text thereof; and provided, further that those representations and warranties expressly referring to a specific date shall be true, accurate and complete in all material respects as of such
date; (4) Borrower, and each of its Subsidiaries, has timely filed all required tax returns and reports, and Borrower has timely paid all foreign, federal, state and local taxes, assessments, deposits and contributions owed by Borrower except
as otherwise permitted pursuant to the terms of Section 5.9 of the Agreement; and (5) no Liens have been levied or claims made against Borrower or any of its Subsidiaries relating to unpaid employee payroll or benefits of which Borrower
has not previously provided written notification to Bank. 
 Attached are the required documents supporting the certification. The undersigned certifies
that these are prepared in accordance with GAAP (subject in the case of unaudited financial statements to normal year-end adjustments and the absence of footnotes) consistently applied from one period to the next except as explained in an
accompanying letter or footnotes. The undersigned acknowledges that no borrowings may be requested at any time or date of determination that Borrower is not in compliance with any of the terms of the Agreement, and that compliance is determined not
just at the date this certificate is delivered. Capitalized terms used but not otherwise defined herein shall have the meanings given them in the Agreement. 

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

 

					
	 Reporting Covenant
	  	 Required
	  	 Complies

	 Monthly financial statements with Compliance Certificate (“CC”)
	  	 When not Streamline Eligible: Monthly within 30 days
	  	     Yes     No    

			
	 Quarterly Compliance Certificate (“CC”) with latest quarterly SEC Filings
	  	 When Streamline Eligible: Quarterly within 45 days
	  	     Yes     No    

			
	 Annual financial statement (CPA Audited) + CC
	  	 FYE within 90 days
	  	     Yes     No    

			
	 SEC Filings (i.e., 10-Q, 10-K and 8-K)
	  	 Within 5 days after filing with SEC
	  	     Yes     No    

			
	 Borrowing Base Certificate, A/R & A/P Agings
	  	 When not Streamline Eligible: Monthly within 30 days
	  	     Yes     No    

			
	 Deferred Revenue Reports, Sell-Through Reports (if applicable)
	  	 When not Streamline Eligible: Monthly within 30 days
	  	     Yes    No    

			
	 Annual Board-Approved Financial Projections
	  	 Within 15 days after Board Approval
	  	     Yes    No    

  

									
	 Streamline Eligibility
	  	Required	  	Actual	  	Complies	  	Non-Formula
Amount
	 If Net Cash is greater than or equal to:
	  	$50,000,000	  	$            	  	    Yes    No    	  	$20,000,000
	 If Net Cash is less than:
	  	$50,000,000	  	$            	  	    Yes    No    	  	$10,000,000

  

							
	 Financial Covenant
	  	Required	  	Actual	  	Complies
	 Maintain on a Monthly Basis:
	  		  		  	
	 Minimum Adjusted Quick Ratio
	  	1.25:1.00	  	        :1.00	  	    Yes    No    

 The following financial covenant analysis and information set forth in Schedule 1 attached hereto
are true and accurate as of the date of this Certificate. 

	
	
	 The following is a list of (i) any material change in the composition of the Intellectual Property,
(ii) the registration of any
copyright, including any subsequent ownership right of Borrower in or to any copyright, patent or trademark not previously disclosed
in writing to Bank, and (iii) Borrower’s knowledge of an event
that could reasonably be expected to materially and adversely affect
the value of the Intellectual Property:

	
	  

	
	  

	
	  

	
	(For the avoidance of doubt, Section 6.2(j) of the Agreement requires that Borrower provide written notice of the matters described in the aforementioned clauses (i), (ii) and (iii) promptly, but in no event later
than forty-five (45) days after the last day of each quarter.)
	
	 The following are the exceptions with respect to the certification above: (If no exceptions exist, state “No exceptions to note.”)

	
	  

	
	  

	
	  

  

									
	AEROHIVE NETWORKS, INC.		 		BANK USE ONLY
					
							Received by:		  

	By:		  
						 AUTHORIZED SIGNER

					
	Name:		  
				Date:		  

					
	Title:		  
						
							Verified:		  

									 AUTHORIZED SIGNER

					
							Date:		  

				
							Compliance Status:     Yes     No

 Schedule 1 to Compliance Certificate 

Financial Covenants of Borrower 

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

Dated:                      

 

	I.	Adjusted Quick Ratio (Section 6.7(a)) 

 Required:
            1.25:1.00 
 Actual: 

 

					
	A.		Aggregate value of Borrower and its Subsidiaries’ consolidated, unrestricted cash and cash equivalents maintained with Bank, plus net billed accounts receivable		$            
			
	B.		Aggregate value of Borrower and its Subsidiaries’ consolidated net billed accounts receivable		$            
			
	C.		Quick Assets (line A plus line B)		$            
			
	D.		Aggregate value of Obligations to Bank		$            
			
	E.		Aggregate value of obligations that should, under GAAP, be classified as liabilities on Borrower and its Subsidiaries’ consolidated balance sheets, but excluding all subordinated debt (if any), and not otherwise reflected in
line D above that matures within one (1) year		$            
			
	F.		Current Liabilities (line D plus line E), minus all amounts received or invoiced in advance of performance under contracts and not yet recognized as revenue		$            
			
	G.		On a consolidated basis, the sum (without duplication) of Borrower and its Subsidiaries’ (a) outstanding principal amount of all Indebtedness, whether current or long-term, for borrowed money and all obligations and
indebtedness evidenced by bonds, debentures, notes, loan agreements or other similar instruments, (b) purchase money Indebtedness, (c) the face amount of all outstanding letters of credit (including standby and commercial), and all Indebtedness
arising under bankers’ acceptances, bank guaranties, surety bonds and similar instruments, (d) indebtedness in respect of the deferred purchase price of property or services (other than trade accounts payable in the ordinary course of
business), (e) Indebtedness in respect of capital leases and synthetic lease obligations, (f) without duplication, guarantees with respect to outstanding Indebtedness of the types specified in clauses (a) through (e) above of Persons other than the
Borrower or any Subsidiary, and (g) indebtedness of the types referred to in clauses (a) through (f) above of any partnership or joint venture (other than a joint venture that is itself a corporation or limited liability company) in which the
Borrower or a Subsidiary is a general partner or joint venturer, unless such indebtedness is expressly made non-recourse to the Borrower or such Subsidiary.		$            
			
	H.		Aggregate Liabilities (line F plus line G)		$            
			
	I.		Adjusted Quick Ratio (line C divided by line H)		              

 Is line I equal to or greater than 1.25:1:00? 
  

					
	              No, not in compliance
				             Yes, in compliance

 EXHIBIT F 

FORM OF NOTICE OF BORROWING 

AEROHIVE NETWORKS, INC. 

Date:                      

 

	TO:	SILICON VALLEY BANK 

 3003
Tasman Drive 
 Santa Clara, CA 95054 

Attention: Alina Zinchik, Vice President 

Email: azinchik@svb.com 
  

	RE:	That certain LOAN AND SECURITY AGREEMENT dated as of June 21, 2012 (as amended, modified, supplemented or restated from time to time, the “Loan Agreement”), by and between AEROHIVE NETWORKS, INC.,
a Delaware corporation (“Borrower”), and SILICON VALLEY BANK, a California corporation (the “Bank”) 

Ladies and Gentlemen: 
 The undersigned refers
to the Loan Agreement, the terms defined therein and used herein as so defined, and hereby gives you notice irrevocably, pursuant to Section 3.5(a) of the Loan Agreement, of the borrowing of an Advance. 

1. The Funding Date1, which shall be a Business Day, of the requested borrowing is
                    . 
 2. The
currency of the requested borrowing is U.S. Dollars. 
 3. The aggregate amount of the requested Advance is
$        . 
 4. The requested Advance shall consist of
$         of Prime Rate Advances and $         of LIBOR Advances. 

5. The duration of the Interest Period for the LIBOR Advances included in the requested Advance shall be
             months. 
  

	1 	Advance requests for LIBOR Advances must be submitted by 12:00 pm Pacific time at least three (3) Business Days prior to Funding Date. Advance requests for Prime Rate Advances must be submitted by 12:00 pm Pacific
time on the Funding Date. 

 The undersigned hereby certifies that the following statements are true on the date hereof, and
will be true on the date of the proposed Advance before and after giving effect thereto, and to the application of the proceeds therefrom, as applicable: 

(a) all representations and warranties of Borrower contained in the Loan Agreement are true, accurate and complete in
all material respects as of the date hereof; provided, however, that such materiality qualifier shall not be applicable to any representations and warranties that already are qualified or modified by materiality in the text thereof; and provided,
further that those representations and warranties expressly referring to a specific date shall be true, accurate and complete in all material respects as of such date; 

(b) no Event of Default has occurred and is continuing, or would result from such proposed Advance; and 

(c) the requested Advance will not cause the aggregate principal amount of the outstanding Advances to exceed, as of the
designated Funding Date: (i) if Borrower is Streamline Eligible, the Revolving Line, or (ii) if Borrower is not Streamline Eligible, the lesser of either (A) the Revolving Line or (B) the Aggregate Borrowing Base plus the
Non-Formula Amount. 
  

					
	BORROWER	 	 AEROHIVE NETWORKS, INC.

			
		 	By:	 	  

		 	Name:	 	  

		 	Title:	 	  

 For internal Bank use only 
  

							
	 LIBOR Pricing Date
	 	LIBOR	 	LIBOR Variance	 	 Maturity Date

		 		 	    %	 	

 EXHIBIT G 

FORM OF NOTICE OF CONVERSION/CONTINUATION 

AEROHIVE NETWORKS, INC. 

Date:                      

 

	TO:	SILICON VALLEY BANK 

 3003
Tasman Drive 
 Santa Clara, CA 95054 

Attention: Alina Zinchik, Vice President 

Email: azinchik@svb.com 
  

	RE:	That certain LOAN AND SECURITY AGREEMENT dated as of June 21, 2012 (as amended, modified, supplemented or restated from time to time, the “Loan Agreement”), by and between AEROHIVE NETWORKS, INC.,
a Delaware corporation (“Borrower”), and SILICON VALLEY BANK, a California corporation (the “Bank”) 

Ladies and Gentlemen: 
 The undersigned refers
to the Loan Agreement, the terms defined therein being used herein as therein defined, and hereby gives you notice irrevocably, pursuant to Section 3.6 of the Loan Agreement, of the [conversion] [continuation] of the Advances specified herein,
that: 
 1. The date of the [conversion] [continuation] is             ,
20    . 
 2. The aggregate amount of the proposed Advances to be [converted] is
$         or [continued] is $        . 
 3.
The Advances are to be [converted into] [continued as] [LIBOR] [Prime Rate] Advances. 
 4. The duration of the Interest Period for
the LIBOR Advances included in the [conversion] [continuation] shall be              months. 

The undersigned, on behalf of Borrower, hereby certifies that the following statements are true on the date hereof, and will be true on the
date of the proposed [conversion] [continuation], before and after giving effect thereto and to the application of the proceeds therefrom: 

(a) all representations and warranties of Borrower stated in the Loan Agreement are true, accurate and complete in all
material respects as of the date hereof; provided, however, that such materiality qualifier shall not be applicable to any representations and warranties that already are qualified or modified by materiality in the text thereof; and provided,
further that those representations and warranties expressly referring to a specific date shall be true, accurate and complete in all material respects as of such date; 

 (b) no Event of Default has occurred and is continuing, or would result
from such proposed [conversion] [continuation]; and 
 (c) at any time in which Borrower is Streamline Eligible, the
requested [conversion] [continuation] will not cause the aggregate principal amount of the outstanding Advances to exceed, as of the designated Funding Date, the Revolving Line, 

(d) at any time, (a) the requested [conversion] [continuation] will not cause the outstanding principal amount of
any Formula Advances to exceed, as of the designated Funding Date, the lesser of either the Revolving Line or the Aggregate Borrowing Base, and (b) the requested [conversion] [continuation] will not cause the outstanding principal amount of any
Formula Advances and Non-Formula Advances to exceed, as of the designated Funding Date, the lesser of either (A) the Revolving Line or (B) the Aggregate Borrowing Base plus the Non-Formula Amount. 

 

					
	BORROWER	 	AEROHIVE NETWORKS, INC.
			
		 	By:	 	  

		 	Name:	 	  

		 	Title:	 	  

 For internal Bank use only 
  

							
	 LIBOR Pricing Date
	 	LIBOR	 	LIBOR Variance	 	 Maturity Date

		 		 	    %Exhibit 4.1 

 

SOUL AND VIBE INTERACTIVE INC.

2015 EQUITY INCENTIVE PLAN

 

1.PURPOSE.
The purpose of this Plan is to provide incentives to attract, retain and motivate eligible persons whose present and potential
contributions are important to the success of the Company, and any Parents and Subsidiaries that exist now or in the future, by
offering them an opportunity to participate in the Company’s future performance through the grant of Awards. Capitalized
terms not defined elsewhere in the text are defined in Section 27.

 

2.SHARES
SUBJECT TO THE PLAN.

 

2.1Number of Shares
Available. Subject to Sections 2.6 and 21 and any other applicable provisions hereof, the total number of Shares reserved and
available for grant and issuance pursuant to this Plan as of the date of adoption of the Plan by the Board, is 10,000,000 Shares.

 

2.2Lapsed, Returned
Awards. Shares subject to Awards, and Shares issued under the Plan under any Award, will again be available for grant and issuance
in connection with subsequent Awards under this Plan to the extent such Shares: (a) are subject to issuance upon exercise of an
Option or SAR granted under this Plan but which cease to be subject to the Option or SAR for any reason other than exercise of
the Option or SAR; (b) are subject to Awards granted under this Plan that are forfeited or are repurchased by the Company at the
original issue price; (c) are subject to Awards granted under this Plan that otherwise terminate without such Shares being issued;
or (d) are surrendered pursuant to an Exchange Program. To the extent an Award under the Plan is paid out in cash rather than Shares,
such cash payment will not result in reducing the number of Shares available for issuance under the Plan. Shares used or withheld
to pay the exercise price of an Award or to satisfy the tax withholding obligations related to an Award will become available for
future grant or sale under the Plan. For the avoidance of doubt, Shares that otherwise become available for grant and issuance
because of the provisions of this Section 2.2 shall not include Shares subject to Awards that initially became available because
of the substitution clause in Section 21.2 hereof.

 

2.3Minimum Share
Reserve. At all times the Company shall reserve and keep available a sufficient number of Shares as shall be required to satisfy
the requirements of all outstanding Awards granted under this Plan.

 

2.4Automatic Share
Reserve Increase. The number of Shares available for grant and issuance under the Plan shall be increased on January 1, of
each of the ten (10) calendar years during the term of the Plan, by the lesser of (i) two and one half percent (2.5%) of the number
of Shares issued and outstanding on each December 31 immediately prior to the date of increase or (ii) such number of Shares determined
by the Board.

 

 

2.5Limitations.
No more than 1,000,000 Shares shall be issued pursuant to the exercise of ISO's.

 

2.6Adjustment
of Shares. If the number of outstanding Shares is changed by a stock dividend, recapitalization, stock split, reverse stock
split, subdivision, combination, reclassification or similar change in the capital structure of the Company, without consideration,
then (a) the number of Shares reserved for issuance and future grant under the Plan set forth in Section 2.1, (b) the Exercise
Prices of and number of Shares subject to outstanding Options and SARs, (c) the number of Shares subject to other outstanding Awards,
(d) the maximum number of shares that may be issued as ISO’s set forth in Section 2.5, (e) the maximum number of Shares that
may be issued to an individual or to a new Employee in any one calendar year set forth in Section 3 and (f) the number of Shares
that are granted as Awards to Non-Employee Directors as set forth in Section 12, shall be proportionately adjusted, subject to
any required action by the Board or the stockholders of the Company and in compliance with applicable securities laws; provided
that fractions of a Share will not be issued.

 

    	 

    	 

    

 

3.ELIGIBILITY.
ISO’s may be granted only to Employees. All other Awards may be granted to Employees, Consultants, Directors and Non-Employee
Directors of the Company or any Parent or Subsidiary of the Company; provided such Consultants, Directors and Non-Employee Directors
render bona fide services not in connection with the offer and sale of securities in a capital-raising transaction. No Participant
will be eligible to receive more than 500,000 Shares in any calendar year under this Plan pursuant to the grant of Awards except
that new Employees of the Company or of a Parent or Subsidiary of the Company (including new Employees who are also officers and
directors of the Company or any Parent or Subsidiary of the Company) are eligible to receive up to a maximum of 500,000 Shares
in the calendar year in which they commence their employment.

 

4.ADMINISTRATION.

 

4.1Committee Composition;
Authority. This Plan will be administered by the Committee or by the Board acting as the Committee. Subject to the general
purposes, terms and conditions of this Plan, and to the direction of the Board, the Committee will have full power to implement
and carry out this Plan, except, however, the Board shall establish the terms for the grant of an Award to Non-Employee Directors.
The Committee will have the authority to:

 

(a)construe and
interpret this Plan, any Award Agreement and any other agreement or document executed pursuant to this Plan;

 

(b)prescribe, amend
and rescind rules and regulations relating to this Plan or any Award;

 

(c)select persons
to receive Awards;

 

(d)determine the
form and terms and conditions, not inconsistent with the terms of the Plan, of any Award granted hereunder. Such terms and conditions
include, but are not limited to, the exercise price, the time or times when Awards may vest and be exercised (which may be based
on performance criteria), any vesting acceleration or waiver of forfeiture restrictions, and any restriction or limitation regarding
any Award or the Shares relating thereto, based in each case on such factors as the Committee will determine;

 

(e)determine the
number of Shares or other consideration subject to Awards;

 

(f)determine the
Fair Market Value in good faith and interpret the applicable provisions of this Plan and the definition of Fair Market Value in
connection with circumstances that impact the Fair Market Value, if necessary;

 

(g)determine whether
Awards will be granted singly, in combination with, in tandem with, in replacement of, or as alternatives to, other Awards under
this Plan or any other incentive or compensation plan of the Company or any Parent or Subsidiary of the Company;

 

(h)grant waivers
of Plan or Award conditions;

 

(i)determine the
vesting, exercisability and payment of Awards;

 

(j)correct any
defect, supply any omission or reconcile any inconsistency in this Plan, any Award or any Award Agreement;

 

(k)determine whether
an Award has been earned;

 

(l)determine the
terms and conditions of any, and to institute any Exchange Program;

 

(m)reduce or waive
any criteria with respect to Performance Factors;

 

(n)adjust Performance
Factors to take into account changes in law and accounting or tax rules as the Committee deems necessary or appropriate to reflect
the impact of extraordinary or unusual items, events or circumstances to avoid windfalls or hardships provided that such adjustments
are consistent with the regulations promulgated under Section 162(m) of the Code with respect to persons whose compensation is
subject to Section 162(m) of the Code;

 

    	2

    	 

    

 

(o)adopt rules
and/or procedures (including the adoption of any subplan under this Plan) relating to the operation and administration of the Plan
to accommodate requirements of local law and procedures outside of the United States;

 

(p)make all other
determinations necessary or advisable for the administration of this Plan; and

 

(q)delegate any
of the foregoing to a subcommittee consisting of one or more executive officers pursuant to a specific delegation.

 

4.2Committee Interpretation
and Discretion. Any determination made by the Committee with respect to any Award shall be made in its sole discretion at the
time of grant of the Award or, unless in contravention of any express term of the Plan or Award, at any later time, and such determination
shall be final and binding on the Company and all persons having an interest in any Award under the Plan. Any dispute regarding
the interpretation of the Plan or any Award Agreement shall be submitted by the Participant or Company to the Committee for review.
The resolution of such a dispute by the Committee shall be final and binding on the Company and the Participant. The Committee
may delegate to one or more executive officers the authority to review and resolve disputes with respect to Awards held by Participants
who are not Insiders, and such resolution shall be final and binding on the Company and the Participant.

 

4.3Section 162(m)
of the Code and Section 16 of the Exchange Act. When necessary or desirable for an Award to qualify as “performance-based
compensation” under Section 162(m) of the Code the Committee shall include at least two persons who are “outside directors”
(as defined under Section 162(m) of the Code) and at least two (or a majority if more than two then serve on the Committee) such
“outside directors” shall approve the grant of such Award and timely determine (as applicable) the Performance Period
and any Performance Factors upon which vesting or settlement of any portion of such Award is to be subject. When required by Section
162(m) of the Code, prior to settlement of any such Award at least two (or a majority if more than two then serve on the Committee)
such “outside directors” then serving on the Committee shall determine and certify in writing the extent to which such
Performance Factors have been timely achieved and the extent to which the Shares subject to such Award have thereby been earned.
Awards granted to Participants who are subject to Section 16 of the Exchange Act must be approved by two or more “non-employee
directors” (as defined in the regulations promulgated under Section 16 of the Exchange Act). With respect to Participants
whose compensation is subject to Section 162(m) of the Code, and provided that such adjustments are consistent with the regulations
promulgated under Section 162(m) of the Code, the Committee may adjust the performance goals to account for changes in law and
accounting and to make such adjustments as the Committee deems necessary or appropriate to reflect the impact of extraordinary
or unusual items, events or circumstances to avoid windfalls or hardships, including without limitation (i) restructurings, discontinued
operations, extraordinary items, and other unusual or non-recurring charges, (ii) an event either not directly related to the operations
of the Company or not within the reasonable control of the Company’s management, or (iii) a change in accounting standards
required by generally accepted accounting principles.

 

4.4Documentation.
The Award Agreement for a given Award, the Plan and any other documents may be delivered to, and accepted by, a Participant or
any other person in any manner (including electronic distribution or posting) that meets applicable legal requirements.

 

5.OPTIONS.
The Committee may grant Options to Participants and will determine whether such Options will be Incentive Stock Options within
the meaning of the Code (“ISO’s”) or Nonqualified Stock Options (“NQSO’s”),
the number of Shares subject to the Option, the Exercise Price of the Option, the period during which the Option may vest and be
exercised, and all other terms and conditions of the Option, subject to the following:

 

5.1Option Grant.
Each Option granted under this Plan will identify the Option as an ISO or an NQSO. An Option may be, but need not be, awarded upon
satisfaction of such Performance Factors during any Performance Period as are set out in advance in the Participant’s individual
Award Agreement. If the Option is being earned upon the satisfaction of Performance Factors, then the Committee will: (x) determine
the nature, length and starting date of any Performance Period for each Option; and (y) select from among the Performance Factors
to be used to measure the performance, if any. Performance Periods may overlap and Participants may participate simultaneously
with respect to Options that are subject to different performance goals and other criteria.

 

    	3

    	 

    

 

5.2Date of Grant.
The date of grant of an Option will be the date on which the Committee makes the determination to grant such Option, or a specified
future date. The Award Agreement and a copy of this Plan will be delivered to the Participant within a reasonable time after the
granting of the Option.

 

5.3Exercise Period.
Options may be vested and exercisable within the times or upon the conditions as set forth in the Award Agreement governing such
Option; provided, however, that no Option will be exercisable after the expiration of ten (10) years from the date the Option is
granted; and provided further that no ISO granted to a person who, at the time the ISO is granted, directly or by attribution owns
more than ten percent (10%) of the total combined voting power of all classes of stock of the Company or of any Parent or Subsidiary
of the Company (“Ten Percent Stockholder”) will be exercisable after the expiration of five (5) years
from the date the ISO is granted. The Committee also may provide for Options to become exercisable at one time or from time to
time, periodically or otherwise, in such number of Shares or percentage of Shares as the Committee determines.

 

5.4Exercise Price.
The Exercise Price of an Option will be determined by the Committee when the Option is granted; provided that: (i) the Exercise
Price of an Option will be not less than one hundred percent (100%) of the Fair Market Value of the Shares on the date of grant
and (ii) the Exercise Price of any ISO granted to a Ten Percent Stockholder will not be less than one hundred ten percent (110%)
of the Fair Market Value of the Shares on the date of grant. Payment for the Shares purchased may be made in accordance with Section
11 and the Award Agreement and in accordance with any procedures established by the Company.

 

5.5Method of Exercise.
Any Option granted hereunder will be vested and exercisable according to the terms of the Plan and at such times and under such
conditions as determined by the Committee and set forth in the Award Agreement. An Option may not be exercised for a fraction of
a Share. An Option will be deemed exercised when the Company receives: (i) notice of exercise (in such form as the Committee may
specify from time to time) from the person entitled to exercise the Option, and (ii) full payment for the Shares with respect to
which the Option is exercised (together with applicable withholding taxes). Full payment may consist of any consideration and method
of payment authorized by the Committee and permitted by the Award Agreement and the Plan. Shares issued upon exercise of an Option
will be issued in the name of the Participant. Until the Shares are issued (as evidenced by the appropriate entry on the books
of the Company or of a duly authorized transfer agent of the Company), no right to vote or receive dividends or any other rights
as a stockholder will exist with respect to the Shares, notwithstanding the exercise of the Option. The Company will issue (or
cause to be issued) such Shares promptly after the Option is exercised. No adjustment will be made for a dividend or other right
for which the record date is prior to the date the Shares are issued, except as provided in Section 2.6 of the Plan. Exercising
an Option in any manner will decrease the number of Shares thereafter available, both for purposes of the Plan and for sale under
the Option, by the number of Shares as to which the Option is exercised.

 

5.6Termination.
The exercise of an Option will be subject to the following (except as may be otherwise provided in an Award Agreement):

 

(a)If the Participant
is Terminated for any reason except for Cause or the Participant’s death or Disability, then the Participant may exercise
such Participant’s Options only to the extent that such Options would have been exercisable by the Participant on the Termination
Date no later than ninety (90) days after the Termination Date (or such shorter time period or longer time period not exceeding
five (5) years as may be determined by the Committee, with any exercise beyond three (3) months after the Termination Date deemed
to be the exercise of an NQSO), but in any event no later than the expiration date of the Options.

 

(b)If the Participant
is Terminated because of the Participant’s death (or the Participant dies within ninety (90) days after a Termination other
than for Cause or because of the Participant’s Disability), then the Participant’s Options may be exercised only to
the extent that such Options would have been exercisable by the Participant on the Termination Date and must be exercised by the
Participant’s legal representative, or authorized assignee, no later than twelve (12) months after the Termination Date (or
such shorter time period not less than six (6) months or longer time period not exceeding five (5) years as may be determined by
the Committee), but in any event no later than the expiration date of the Options.

 

    	4

    	 

    

 

(c)If the Participant
is Terminated because of the Participant’s Disability, then the Participant’s Options may be exercised only to the
extent that such Options would have been exercisable by the Participant on the Termination Date and must be exercised by the Participant
(or the Participant’s legal representative or authorized assignee) no later than six (6) months after the Termination Date
(with any exercise beyond (a) three (3) months after the Termination Date when the Termination is for a Disability that is not
a “permanent and total disability” as defined in Section 22(e)(3) of the Code, or (b) twelve (12) months after the
Termination Date when the Termination is for a Disability that is a “permanent and total disability” as defined in
Section 22(e)(3) of the Code, deemed to be exercise of an NQSO), but in any event no later than the expiration date of the Options.

 

(d)If the Participant
is terminated for Cause, then Participant’s Options shall expire on such Participant’s Termination Date, or at such
later time and on such conditions as are determined by the Committee, but in any no event later than the expiration date of the
Options. Unless otherwise provided in the Award Agreement, Cause will have the meaning set forth in the Plan.

 

5.7Limitations
on Exercise. The Committee may specify a minimum number of Shares that may be purchased on any exercise of an Option, provided
that such minimum number will not prevent any Participant from exercising the Option for the full number of Shares for which it
is then exercisable.

 

5.8Limitations
on ISO’s. With respect to Awards granted as ISO’s, to the extent that the aggregate Fair Market Value of the Shares
with respect to which such ISO’s are exercisable for the first time by the Participant during any calendar year (under all
plans of the Company and any Parent or Subsidiary) exceeds one hundred thousand dollars ($100,000), such Options will be treated
as NQSO’s. For purposes of this Section 5.8, ISO’s will be taken into account in the order in which they were granted.
The Fair Market Value of the Shares will be determined as of the time the Option with respect to such Shares is granted. In the
event that the Code or the regulations promulgated thereunder are amended after the Effective Date to provide for a different limit
on the Fair Market Value of Shares permitted to be subject to ISO’s, such different limit will be automatically incorporated
herein and will apply to any Options granted after the effective date of such amendment.

 

5.9Modification,
Extension or Renewal. The Committee may modify, extend or renew outstanding Options and authorize the grant of new Options
in substitution therefor, provided that any such action may not, without the written consent of a Participant, impair any of such
Participant’s rights under any Option previously granted. Any outstanding ISO that is modified, extended, renewed or otherwise
altered will be treated in accordance with Section 424(h) of the Code. Subject to Section 18 of this Plan, by written notice to
affected Participants, the Committee may reduce the Exercise Price of outstanding Options without the consent of such Participants;
provided, however, that the Exercise Price may not be reduced below the Fair Market Value on the date the action is taken to reduce
the Exercise Price.

 

5.10No Disqualification.
Notwithstanding any other provision in this Plan, no term of this Plan relating to ISO’s will be interpreted, amended or
altered, nor will any discretion or authority granted under this Plan be exercised, so as to disqualify this Plan under Section
422 of the Code or, without the consent of the Participant affected, to disqualify any ISO under Section 422 of the Code.

 

6.RESTRICTED
STOCK AWARDS.

 

6.1Awards of Restricted
Stock. A Restricted Stock Award is an offer by the Company to sell to a Participant Shares that are subject to restrictions
(“Restricted Stock”). The Committee will determine to whom an offer will be made, the number of Shares
the Participant may purchase, the Purchase Price, the restrictions under which the Shares will be subject and all other terms and
conditions of the Restricted Stock Award, subject to the Plan.

 

6.2Restricted
Stock Purchase Agreement. All purchases under a Restricted Stock Award will be evidenced by an Award Agreement. Except as may
otherwise be provided in an Award Agreement, a Participant accepts a Restricted Stock Award by signing and delivering to the Company
an Award Agreement with full payment of the Purchase Price, within thirty (30) days from the date the Award Agreement was delivered
to the Participant. If the Participant does not accept such Award within thirty (30) days, then the offer of such Restricted Stock
Award will terminate, unless the Committee determines otherwise.

 

    	5

    	 

    

 

6.3Purchase Price.
The Purchase Price for a Restricted Stock Award will be determined by the Committee and may be less than Fair Market Value on the
date the Restricted Stock Award is granted. Payment of the Purchase Price must be made in accordance with Section 11 of the Plan,
and the Award Agreement and in accordance with any procedures established by the Company.

 

6.4Terms of Restricted
Stock Awards. Restricted Stock Awards will be subject to such restrictions as the Committee may impose or are required by law.
These restrictions may be based on completion of a specified number of years of service with the Company or upon completion of
Performance Factors, if any, during any Performance Period as set out in advance in the Participant’s Award Agreement. Prior
to the grant of a Restricted Stock Award, the Committee shall: (a) determine the nature, length and starting date of any Performance
Period for the Restricted Stock Award; (b) select from among the Performance Factors to be used to measure performance goals, if
any; and (c) determine the number of Shares that may be awarded to the Participant. Performance Periods may overlap and a Participant
may participate simultaneously with respect to Restricted Stock Awards that are subject to different Performance Periods and having
different performance goals and other criteria.

 

6.5Termination
of Participant. Except as may be set forth in the Participant’s Award Agreement, vesting ceases on such Participant’s
Termination Date (unless determined otherwise by the Committee).

 

7. STOCK
BONUS AWARDS.

 

7.1Awards of Stock
Bonuses. A Stock Bonus Award is an award to an eligible person of Shares for services to be rendered or for past services already
rendered to the Company or any Parent or Subsidiary. All Stock Bonus Awards shall be made pursuant to an Award Agreement. No payment
from the Participant will be required for Shares awarded pursuant to a Stock Bonus Award.

 

7.2Terms of Stock
Bonus Awards. The Committee will determine the number of Shares to be awarded to the Participant under a Stock Bonus Award
and any restrictions thereon. These restrictions may be based upon completion of a specified number of years of service with the
Company or upon satisfaction of performance goals based on Performance Factors during any Performance Period as set out in advance
in the Participant’s Stock Bonus Agreement. Prior to the grant of any Stock Bonus Award the Committee shall: (a) determine
the nature, length and starting date of any Performance Period for the Stock Bonus Award; (b) select from among the Performance
Factors to be used to measure performance goals; and (c) determine the number of Shares that may be awarded to the Participant.
Performance Periods may overlap and a Participant may participate simultaneously with respect to Stock Bonus Awards that are subject
to different Performance Periods and different performance goals and other criteria.

 

7.3Form of Payment
to Participant. Payment may be made in the form of cash, whole Shares, or a combination thereof, based on the Fair Market Value
of the Shares earned under a Stock Bonus Award on the date of payment, as determined in the sole discretion of the Committee.

 

7.4Termination
of Participation. Except as may be set forth in the Participant’s Award Agreement, vesting ceases on such Participant’s
Termination Date (unless determined otherwise by the Committee).

 

8. STOCK
APPRECIATION RIGHTS.

 

8.1Awards of SARs.
A Stock Appreciation Right (“SAR”) is an award to a Participant that may be settled in cash, or Shares
(which may consist of Restricted Stock), having a value equal to (a) the difference between the Fair Market Value on the date of
exercise over the Exercise Price multiplied by (b) the number of Shares with respect to which the SAR is being settled (subject
to any maximum number of Shares that may be issuable as specified in an Award Agreement). All SARs shall be made pursuant to an
Award Agreement.

 

    	6

    	 

    

 

8.2Terms of SARs.
The Committee will determine the terms of each SAR including, without limitation: (a) the number of Shares subject to the SAR;
(b) the Exercise Price and the time or times during which the SAR may be settled; (c) the consideration to be distributed on settlement
of the SAR; and (d) the effect of the Participant’s Termination on each SAR. The Exercise Price of the SAR will be determined
by the Committee when the SAR is granted, and may not be less than Fair Market Value. A SAR may be awarded upon satisfaction of
Performance Factors, if any, during any Performance Period as are set out in advance in the Participant’s individual Award
Agreement. If the SAR is being earned upon the satisfaction of Performance Factors, then the Committee will: (x) determine the
nature, length and starting date of any Performance Period for each SAR; and (y) select from among the Performance Factors to be
used to measure the performance, if any. Performance Periods may overlap and Participants may participate simultaneously with respect
to SARs that are subject to different Performance Factors and other criteria.

 

8.3Exercise Period
and Expiration Date. A SAR will be exercisable within the times or upon the occurrence of events determined by the Committee
and set forth in the Award Agreement governing such SAR. The SAR Agreement shall set forth the expiration date; provided that no
SAR will be exercisable after the expiration of ten (10) years from the date the SAR is granted. The Committee may also provide
for SARs to become exercisable at one time or from time to time, periodically or otherwise (including, without limitation, upon
the attainment during a Performance Period of performance goals based on Performance Factors), in such number of Shares or percentage
of the Shares subject to the SAR as the Committee determines. Except as may be set forth in the Participant’s Award Agreement,
vesting ceases on such Participant’s Termination Date (unless determined otherwise by the Committee). Notwithstanding the
foregoing, the rules of Section 5.6 also will apply to SARs.

 

8.4Form of Settlement.
Upon exercise of a SAR, a Participant will be entitled to receive payment from the Company in an amount determined by multiplying
(i) the difference between the Fair Market Value of a Share on the date of exercise over the Exercise Price; times (ii) the number
of Shares with respect to which the SAR is exercised. At the discretion of the Committee, the payment from the Company for the
SAR exercise may be in cash, in Shares of equivalent value, or in some combination thereof. The portion of a SAR being settled
may be paid currently or on a deferred basis with such interest or dividend equivalent, if any, as the Committee determines, provided
that the terms of the SAR and any deferral satisfy the requirements of Section 409A of the Code.

 

8.5Termination
of Participation. Except as may be set forth in the Participant’s Award Agreement, vesting ceases on such Participant’s
Termination Date (unless determined otherwise by the Committee).

 

9.RESTRICTED
STOCK UNITS.

 

9.1Awards of Restricted
Stock Units. A Restricted Stock Unit (“RSU”) is an award to a Participant covering a number of Shares
that may be settled in cash, or by issuance of those Shares (which may consist of Restricted Stock). All RSU’s shall be made
pursuant to an Award Agreement.

 

9.2Terms of RSU’s.
The Committee will determine the terms of an RSU including, without limitation: (a) the number of Shares subject to the RSU; (b)
the time or times during which the RSU may be settled; (c) the consideration to be distributed on settlement; and (d) the effect
of the Participant’s Termination on each RSU. An RSU may be awarded upon satisfaction of such performance goals based on
Performance Factors during any Performance Period as are set out in advance in the Participant’s Award Agreement. If the
RSU is being earned upon satisfaction of Performance Factors, then the Committee will: (x) determine the nature, length and starting
date of any Performance Period for the RSU; (y) select from among the Performance Factors to be used to measure the performance,
if any; and (z) determine the number of Shares deemed subject to the RSU. Performance Periods may overlap and participants may
participate simultaneously with respect to RSU’s that are subject to different Performance Periods and different performance
goals and other criteria.

 

9.3Form and Timing
of Settlement. Payment of earned RSU’s shall be made as soon as practicable after the date(s) determined by the Committee
and set forth in the Award Agreement. The Committee, in its sole discretion, may settle earned RSU’s in cash, Shares, or
a combination of both. The Committee may also permit a Participant to defer payment under a RSU to a date or dates after the RSU
is earned provided that the terms of the RSU and any deferral satisfy the requirements of Section 409A of the Code.

 

9.4Termination
of Participant. Except as may be set forth in the Participant’s Award Agreement, vesting ceases on such Participant’s
Termination Date (unless determined otherwise by the Committee).

 

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10.PERFORMANCE
AWARDS.

 

10.1Performance
Awards. A Performance Award is an award to a Participant of a cash bonus or a Performance Share bonus. Grants of Performance
Awards shall be made pursuant to an Award Agreement.

 

10.2Terms of Performance
Awards. The Committee will determine, and each Award Agreement shall set forth, the terms of each award of Performance Award
including, without limitation: (a) the amount of any cash bonus; (b) the number of Shares deemed subject to a Performance Share
bonus; (c) the Performance Factors and Performance Period that shall determine the time and extent to which each Performance Award
shall be settled; (d) the consideration to be distributed on settlement; and (e) the effect of the Participant’s Termination
on each Performance Award. In establishing Performance Factors and the Performance Period the Committee will: (x) determine the
nature, length and starting date of any Performance Period; and (y) select from among the Performance Factors to be used. Prior
to settlement the Committee shall determine the extent to which Performance Awards have been earned. Performance Periods may overlap
and Participants may participate simultaneously with respect to Performance Awards that are subject to different Performance Periods
and different performance goals and other criteria. No Participant will be eligible to receive more than $100,000 in Performance
Awards in any calendar year under this Plan.

 

10.3Value, Earning
and Timing of Performance Shares. Any Performance Share bonus will have an initial value equal to the Fair Market Value of
a Share on the date of grant. After the applicable Performance Period has ended, the holder of a Performance Share bonus will be
entitled to receive a payout of the number of Shares earned by the Participant over the Performance Period, to be determined as
a function of the extent to which the corresponding Performance Factors or other vesting provisions have been achieved. The Committee,
in its sole discretion, may pay an earned Performance Share bonus in the form of cash, in Shares (which have an aggregate Fair
Market Value equal to the value of the earned Performance Shares at the close of the applicable Performance Period) or in a combination
thereof. Performance Share bonuses may also be settled in Restricted Stock.

 

10.4Termination
of Participant. Except as may be set forth in the Participant’s Award Agreement, vesting ceases on such Participant’s
Termination Date (unless determined otherwise by the Committee).

 

11.PAYMENT FOR
SHARE PURCHASES.

 

Payment from a Participant
for Shares purchased pursuant to this Plan may be made in cash or by check or, where expressly approved for the Participant by
the Committee and where permitted by law (and to the extent not otherwise set forth in the applicable Award Agreement):

 

(a)by cancellation
of indebtedness of the Company to the Participant;

 

(b)by surrender of
shares of the Company held by the Participant that have a Fair Market Value on the date of surrender equal to the aggregate exercise
price of the Shares as to which said Award will be exercised or settled;

 

(c)by waiver of compensation
due or accrued to the Participant for services rendered or to be rendered to the Company or a Parent or Subsidiary of the Company;

 

(d)by consideration
received by the Company pursuant to a broker-assisted or other form of cashless exercise program implemented by the Company in
connection with the Plan;

 

(e)by any combination
of the foregoing; or

 

(f)by any other method
of payment as is permitted by applicable law.

 

12.GRANTS
TO NON-EMPLOYEE DIRECTORS.

 

12.1Types of Awards.
Non-Employee Directors are eligible to receive any type of Award offered under this Plan except ISO’s. Awards pursuant to
this Section 12 may be automatically made pursuant to policy adopted by the Board, or made from time to time as determined in the
discretion of the Board.

 

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12.2Eligibility.
Awards pursuant to this Section 12 shall be granted only to Non-Employee Directors. A Non-Employee Director who is elected or re-elected
as a member of the Board will be eligible to receive an Award under this Section 12.

 

12.3Vesting, Exercisability
and Settlement. Except as set forth in Section 21, Awards shall vest, become exercisable and be settled as determined by the
Board. With respect to Options and SARs, the exercise price granted to Non-Employee Directors shall not be less than the Fair Market
Value of the Shares at the time that such Option or SAR is granted.

 

12.4Election to
receive Awards in Lieu of Cash. A Non-Employee Director may elect to receive his or her annual retainer payments and/or meeting
fees from the Company in the form of cash or Awards or a combination thereof, as determined by the Committee. Such Awards shall
be issued under the Plan. An election under this Section 12.4 shall be filed with the Company on the form prescribed by the Company.

 

13.WITHHOLDING
TAXES.

 

13.1Withholding
Generally. Whenever Shares are to be issued in satisfaction of Awards granted under this Plan, the Company may require the
Participant to remit to the Company, or to the Parent or Subsidiary employing the Participant, an amount sufficient to satisfy
applicable U.S. federal, state, local and international withholding tax requirements or any other tax liability legally due from
the Participant prior to the delivery of Shares pursuant to exercise or settlement of any Award. Whenever payments in satisfaction
of Awards granted under this Plan are to be made in cash, such payment will be net of an amount sufficient to satisfy applicable
U.S. federal, state, local and international withholding tax requirements or any other tax liability legally due from the Participant.
The Fair Market Value of the Shares will be determined as of the date that the taxes are required to be withheld and such Shares
will be valued based on the value of the actual trade or, if there is none, the Fair Market Value of the Shares as of the previous
trading day.

 

 

13.2Stock Withholding.
The Committee, in its sole discretion and pursuant to such procedures as it may specify from time to time and to limitations of
local law, may require or permit a Participant to satisfy such tax withholding obligation or any other tax liability legally due
from the Participant, in whole or in part by (without limitation) (i) paying cash, (ii) electing to have the Company withhold otherwise
deliverable cash or Shares having a Fair Market Value equal to the minimum statutory amount required to be withheld, or (iii) delivering
to the Company already-owned Shares having a Fair Market Value equal to the minimum amount required to be withheld.

 

14.TRANSFERABILITY.

 

14.1Transfer Generally.
Unless determined otherwise by the Committee or pursuant to Section 14.2, an Award may not be sold, pledged, assigned, hypothecated,
transferred, or disposed of in any manner other than by will or by the laws of descent or distribution. If the Committee makes
an Award transferable, including, without limitation, by instrument to an inter vivos or testamentary trust in which the Awards
are to be passed to beneficiaries upon the death of the trustor (settlor) or by gift to a Permitted Transferee, such Award will
contain such additional terms and conditions as the Committee deems appropriate. All Awards shall be exercisable: (i) during the
Participant’s lifetime only by (A) the Participant, or (B) the Participant’s guardian or legal representative; (ii)
after the Participant’s death, by the legal representative of the Participant’s heirs or legatees; and (iii) in the
case of all awards except ISO’s, by a Permitted Transferee.

 

14.2Award Transfer
Program. Notwithstanding any contrary provision of the Plan, the Committee shall have all discretion and authority to determine
and implement the terms and conditions of any Award Transfer Program instituted pursuant to this Section 14.2 and shall have the
authority to amend the terms of any Award participating, or otherwise eligible to participate in, the Award Transfer Program, including
(but not limited to) the authority to (i) amend (including to extend) the expiration date, post-termination exercise period and/or
forfeiture conditions of any such Award, (ii) amend or remove any provisions of the Award relating to the Award holder’s
continued service to the Company, (iii) amend the permissible payment methods with respect to the exercise or purchase of any such
Award, (iv) amend the adjustments to be implemented in the event of changes in the capitalization and other similar events with
respect to such Award, and (v) make such other changes to the terms of such Award as the Committee deems necessary or appropriate
in its sole discretion.

 

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15.PRIVILEGES
OF STOCK OWNERSHIP; RESTRICTIONS ON SHARES.

 

15.1Voting and
Dividends. No Participant will have any of the rights of a stockholder with respect to any Shares until the Shares are issued
to the Participant, except for any dividend equivalent rights permitted by an applicable Award Agreement. After Shares are issued
to the Participant, the Participant will be a stockholder and have all the rights of a stockholder with respect to such Shares,
including the right to vote and receive all dividends or other distributions made or paid with respect to such Shares; provided,
that if such Shares are Restricted Stock, then any new, additional or different securities the Participant may become entitled
to receive with respect to such Shares by virtue of a stock dividend, stock split or any other change in the corporate or capital
structure of the Company will be subject to the same restrictions as the Restricted Stock; provided, further, that the Participant
will have no right to retain such stock dividends or stock distributions with respect to Shares that are repurchased at the Participant’s
Purchase Price or Exercise Price, as the case may be, pursuant to Section 15.2.

 

15.2Restrictions
on Shares. At the discretion of the Committee, the Company may reserve to itself and/or its assignee(s) a right to repurchase
(a “Right of Repurchase”) a portion of any or all Unvested Shares held by a Participant following such
Participant’s Termination at any time within ninety (90) days after the later of the Participant’s Termination Date
and the date the Participant purchases Shares under this Plan, for cash and/or cancellation of purchase money indebtedness, at
the Participant’s Purchase Price or Exercise Price, as the case may be.

 

16.CERTIFICATES.
All Shares or other securities whether or not certificated, delivered under this Plan will be subject to such stock transfer orders,
legends and other restrictions as the Committee may deem necessary or advisable, including restrictions under any applicable U.S.
federal, state or foreign securities law, or any rules, regulations and other requirements of the SEC or any stock exchange or
automated quotation system upon which the Shares may be listed or quoted and any non-U.S. exchange controls or securities law restrictions
to which the Shares are subject.

 

17.ESCROW;
PLEDGE OF SHARES. To enforce any restrictions on a Participant’s Shares, the Committee may require the Participant to
deposit all certificates representing Shares, together with stock powers or other instruments of transfer approved by the Committee,
appropriately endorsed in blank, with the Company or an agent designated by the Company to hold in escrow until such restrictions
have lapsed or terminated, and the Committee may cause a legend or legends referencing such restrictions to be placed on the certificates.
Any Participant who is permitted to execute a promissory note as partial or full consideration for the purchase of Shares under
this Plan will be required to pledge and deposit with the Company all or part of the Shares so purchased as collateral to secure
the payment of the Participant’s obligation to the Company under the promissory note; provided, however, that the Committee
may require or accept other or additional forms of collateral to secure the payment of such obligation and, in any event, the Company
will have full recourse against the Participant under the promissory note notwithstanding any pledge of the Participant’s
Shares or other collateral. In connection with any pledge of the Shares, the Participant will be required to execute and deliver
a written pledge agreement in such form as the Committee will from time to time approve. The Shares purchased with the promissory
note may be released from the pledge on a pro rata basis as the promissory note is paid.

 

18.REPRICING;
EXCHANGE AND BUYOUT OF AWARDS. Without prior stockholder approval the Committee may (i) reprice Options or SARS (and where
such repricing is a reduction in the Exercise Price of outstanding Options or SARS, the consent of the affected Participants is
not required provided written notice is provided to them, notwithstanding any adverse tax consequences to them arising from the
repricing), and (ii) with the consent of the respective Participants (unless not required pursuant to Section 5.9 of the Plan),
pay cash or issue new Awards in exchange for the surrender and cancellation of any, or all, outstanding Awards.

 

19.SECURITIES
LAW AND OTHER REGULATORY COMPLIANCE. An Award will not be effective unless such Award is in compliance with all applicable
U.S. and foreign federal and state securities laws, rules and regulations of any governmental body, and the requirements of any
stock exchange or automated quotation system upon which the Shares may then be listed or quoted, as they are in effect on the date
of grant of the Award and also on the date of exercise or other issuance. Notwithstanding any other provision in this Plan, the
Company will have no obligation to issue or deliver certificates for Shares under this Plan prior to: (a) obtaining any approvals
from governmental agencies that the Company determines are necessary or advisable; and/or (b) completion of any registration or
other qualification of such Shares under any state or federal or foreign law or ruling of any governmental body that the Company
determines to be necessary or advisable. The Company will be under no obligation to register the Shares with the SEC or to effect
compliance with the registration, qualification or listing requirements of any foreign or state securities laws, stock exchange
or automated quotation system, and the Company will have no liability for any inability or failure to do so.

 

    	10

    	 

    

 

20.NO
OBLIGATION TO EMPLOY. Nothing in this Plan or any Award granted under this Plan will confer or be deemed to confer on any Participant
any right to continue in the employ of, or to continue any other relationship with, the Company or any Parent or Subsidiary of
the Company or limit in any way the right of the Company or any Parent or Subsidiary of the Company to terminate Participant’s
employment or other relationship at any time.

 

21.CORPORATE
TRANSACTIONS.

 

21.1Assumption
or Replacement of Awards by Successor. In the event of a Corporate Transaction any or all outstanding Awards may be assumed
or replaced by the successor corporation, which assumption or replacement shall be binding on all Participants. In the alternative,
the successor corporation may substitute equivalent Awards or provide substantially similar consideration to Participants as was
provided to stockholders (after taking into account the existing provisions of the Awards). The successor corporation may also
issue, in place of outstanding Shares of the Company held by the Participant, substantially similar shares or other property subject
to repurchase restrictions no less favorable to the Participant. In the event such successor or acquiring corporation (if any)
refuses to assume, convert, replace or substitute Awards, as provided above, pursuant to a Corporate Transaction, then notwithstanding
any other provision in this Plan to the contrary, such Awards shall have their vesting accelerate as to all shares subject to such
Award (and any applicable right of repurchase fully lapse) immediately prior to the Corporate Transaction unless otherwise determined
by the Board and then such Awards will terminate. In addition, in the event such successor or acquiring corporation (if any) refuses
to assume, convert, replace or substitute Awards, as provided above, pursuant to a Corporate Transaction, the Committee will notify
the Participant in writing or electronically that such Award will be exercisable for a period of time determined by the Committee
in its sole discretion, and such Award will terminate upon the expiration of such period. Awards need not be treated similarly
in a Corporate Transaction.

 

21.2Assumption
of Awards by the Company. The Company, from time to time, also may substitute or assume outstanding awards granted by another
company, whether in connection with an acquisition of such other company or otherwise, by either; (a) granting an Award under this
Plan in substitution of such other company’s award; or (b) assuming such award as if it had been granted under this Plan
if the terms of such assumed award could be applied to an Award granted under this Plan. Such substitution or assumption will be
permissible if the holder of the substituted or assumed award would have been eligible to be granted an Award under this Plan if
the other company had applied the rules of this Plan to such grant. In the event the Company assumes an award granted by another
company, the terms and conditions of such award will remain unchanged (except that the Purchase Price or the Exercise Price, as
the case may be, and the number and nature of Shares issuable upon exercise or settlement of any such Award will be adjusted appropriately
pursuant to Section 424(a) of the Code). In the event the Company elects to grant a new Option in substitution rather than assuming
an existing option, such new Option may be granted with a similarly adjusted Exercise Price.

 

21.3Non-Employee
Directors’ Awards. Notwithstanding any provision to the contrary herein, in the event of a Corporate Transaction, the
vesting of all Awards granted to Non-Employee Directors shall accelerate and such Awards shall become exercisable (as applicable)
in full prior to the consummation of such event at such times and on such conditions as the Committee determines.

 

22.ADOPTION
AND STOCKHOLDER APPROVAL. This Plan shall be submitted for the approval of the Company’s stockholders, consistent with
applicable laws, within twelve (12) months before or after the date this Plan is adopted by the Board.

 

23.TERM OF PLAN/GOVERNING
LAW. Unless earlier terminated as provided herein, this Plan will become effective on the Effective Date and will terminate
ten (10) years from the date this Plan is adopted by the Board. This Plan and all Awards granted hereunder shall be governed by
and construed in accordance with the laws of the State of Nevada.

 

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24.AMENDMENT
OR TERMINATION OF PLAN. The Board may at any time terminate or amend this Plan in any respect, including, without limitation,
amendment of any form of Award Agreement or instrument to be executed pursuant to this Plan; provided, however, that the Board
will not, without the approval of the stockholders of the Company, amend this Plan in any manner that requires such stockholder
approval; provided further, that a Participant’s Award shall be governed by the version of this Plan then in effect at the
time such Award was granted.

 

25.NON-EXCLUSIVITY
OF THE PLAN. Neither the adoption of this Plan by the Board, the submission of this Plan to the stockholders of the Company
for approval, nor any provision of this Plan will be construed as creating any limitations on the power of the Board to adopt such
additional compensation arrangements as it may deem desirable, including, without limitation, the granting of stock awards and
bonuses otherwise than under this Plan, and such arrangements may be either generally applicable or applicable only in specific
cases.

 

26.INSIDER
TRADING POLICY. Each Participant who receives an Award shall comply with any policy adopted by the Company from time to time
covering transactions in the Company’s securities by Employees, officers and/or directors of the Company.

 

27.DEFINITIONS.
As used in this Plan, and except as elsewhere defined herein, the following terms will have the following meanings:

 

 

“Award”
means any award under the Plan, including any Option, Restricted Stock, Stock Bonus, Stock Appreciation Right, Restricted Stock
Unit or award of Performance Shares.

 

“Award
Agreement” means, with respect to each Award, the written or electronic agreement between the Company and the Participant
setting forth the terms and conditions of the Award, which shall be in substantially a form (which need not be the same for each
Participant) that the Committee has from time to time approved, and will comply with and be subject to the terms and conditions
of this Plan.

 

“Award
Transfer Program” means any program instituted by the Committee which would permit Participants the opportunity to
transfer any outstanding Awards to a financial institution or other person or entity approved by the Committee.

 

“Board”
means the Board of Directors of the Company.

 

“Cause”
means (i) Participant’s willful failure substantially to perform his or her duties and responsibilities to the Company or
deliberate violation of a Company policy; (ii) Participant’s commission of any act of fraud, embezzlement, dishonesty or
any other willful misconduct that has caused or is reasonably expected to result in material injury to the Company; (iii) unauthorized
use or disclosure by Participant of any proprietary information or trade secrets of the Company or any other party to whom the
Participant owes an obligation of nondisclosure as a result of his or her relationship with the Company; or (iv) Participant’s
willful breach of any of his or her obligations under any written agreement or covenant with the Company. The determination as
to whether a Participant is being terminated for Cause shall be made in good faith by the Company and shall be final and binding
on the Participant. The foregoing definition does not in any way limit the Company’s ability to terminate a Participant’s
employment or consulting relationship at any time as provided in Section 20 above, and the term “Company” will be interpreted
to include any Subsidiary or Parent, as appropriate.

 

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

 

“Committee”
means the Compensation Committee of the Board or those persons to whom administration of the Plan, or part of the Plan, has been
delegated as permitted by law.

 

“Common
Stock” means the Common Stock of the Company.

 

    	12

    	 

    

 

“Company”
means Soul and Vibe Interactive Inc., or any successor corporation.

 

“Consultant”
means any person, including an advisor or independent contractor, engaged by the Company or a Parent or Subsidiary to render services
to such entity.

 

“Corporate
Transaction” means the occurrence of any of the following events: (i) any “person” (as such term is used
in Sections 13(d) and 14(d) of the Exchange Act) becomes the “beneficial owner” (as defined in Rule 13d-3 of the Exchange
Act), directly or indirectly, of securities of the Company representing fifty percent (50%) or more of the total voting power represented
by the Company’s then-outstanding voting securities; (ii) the consummation of the sale or disposition by the Company of all
or substantially all of the Company’s assets; (iii) the consummation of a merger or consolidation of the Company with any
other corporation, other than a merger or consolidation which would result in the voting securities of the Company outstanding
immediately prior thereto continuing to represent (either by remaining outstanding or by being converted into voting securities
of the surviving entity or its parent) at least fifty percent (50%) of the total voting power represented by the voting securities
of the Company or such surviving entity or its parent outstanding immediately after such merger or consolidation or (iv) any other
transaction which qualifies as a “corporate transaction” under Section 424(a) of the Code wherein the stockholders
of the Company give up all of their equity interest in the Company (except for the acquisition, sale or transfer of all or substantially
all of the outstanding shares of the Company).

 

“Director”
means a member of the Board.

 

“Disability”
means in the case of incentive stock options, total and permanent disability as defined in Section 22(e)(3) of the Code and in
the case of other Awards, that the Participant is unable to engage in any substantial gainful activity by reason of any medically
determinable physical or mental impairment that can be expected to result in death or can be expected to last for a continuous
period of not less than 12 months.

 

“Effective
Date” means the day immediately prior to the date of the underwritten initial public offering of the Company’s
Common Stock pursuant to a registration statement that is declared effective by the SEC.

 

“Employee”
means any person, including Officers and Directors, employed by the Company or any Parent or Subsidiary of the Company. Neither
service as a Director nor payment of a director’s fee by the Company will be sufficient to constitute “employment”
by the Company.

 

“Exchange
Act” means the United States Securities Exchange Act of 1934, as amended.

 

“Exchange
Program” means a program pursuant to which outstanding Awards are surrendered, cancelled or exchanged for cash, the
same type of Award or a different Award (or combination thereof).

 

“Exercise
Price” means, with respect to an Option, the price at which a holder may purchase the Shares issuable upon exercise
of an Option and with respect to a SAR, the price at which the SAR is granted to the holder thereof.

 

“Fair Market
Value” means, as of any date, the value of a share of the Company’s Common Stock determined as follows:

 

(a)if such Common
Stock is publicly traded and is then listed on a national securities exchange, the closing price on the date of determination on
the principal national securities exchange on which the Common Stock is listed or admitted to trading as officially quoted in the
composite tape of transactions on such exchange or such other source as the Committee deems reliable for the applicable date;

 

(b)if such Common
Stock is publicly traded but is neither listed nor admitted to trading on a national securities exchange, the average of the closing
bid and asked prices on the date of determination as reported in The Wall Street Journal or such other source as the Committee
deems reliable;

 

    	13

    	 

    

 

(c)in the case of
an Option or SAR grant made on the Effective Date, the price per share at which shares of the Company’s Common Stock are
initially offered for sale to the public by the Company’s underwriters in the initial public offering of the Company’s
Common Stock pursuant to a registration statement filed with the SEC under the Securities Act; or

 

(d)if none of the
foregoing is applicable, by the Board or the Committee in good faith.

 

“Insider”
means an officer or director of the Company or any other person whose transactions in the Company’s Common Stock are subject
to Section 16 of the Exchange Act.

 

“Non-Employee
Director” means a Director who is not an Employee of the Company or any Parent or Subsidiary.

 

“Option”
means an award of an option to purchase Shares pursuant to Section 5.

 

“Parent”
means any corporation (other than the Company) in an unbroken chain of corporations ending with the Company if each of such corporations
other than the Company owns stock possessing fifty percent (50%) or more of the total combined voting power of all classes of stock
in one of the other corporations in such chain.

 

“Participant”
means a person who holds an Award under this Plan.

 

“Performance
Award” means cash or stock granted pursuant to Section 10 or Section 12 of the Plan.

 

“Performance
Factors” means any of the factors selected by the Committee and specified in an Award Agreement, from among the following
objective measures, either individually, alternatively or in any combination, applied to the Company as a whole or any business
unit or Subsidiary, either individually, alternatively, or in any combination, on a GAAP or non-GAAP basis, and measured, to the
extent applicable on an absolute basis or relative to a pre-established target, to determine whether the performance goals established
by the Committee with respect to applicable Awards have been satisfied:

 

		•	Profit Before Tax;

 

		•	Billings;

 

		•	Revenue;

 

		•	(Net revenue;

 

		•	Earnings (which may include earnings before interest and taxes, earnings before taxes, and net earnings);

 

		•	Operating income;

 

		•	Operating margin;

 

		•	Operating profit;

 

		•	Controllable operating profit, or net operating profit;

 

		•	Net Profit;

 

		•	Gross margin;

 

		•	Operating expenses or operating expenses as a percentage
of revenue;

 

		•	Net income;

 

    	14

    	 

    

 

		•	Earnings per share;

 

		•	Total stockholder return;

 

		•	Market share;

 

		•	Return on assets or net assets;

 

		•	The Company’s stock price;

 

		•	Growth in stockholder value relative to a pre-determined
index;

 

		•	Return on equity;

 

		•	Return on invested capital;

 

		•	Cash Flow (including free cash flow or operating cash
flows)

 

		•	Cash conversion cycle;

 

		•	Economic value added;

 

		•	Individual confidential business objectives;

 

		•	Contract awards or backlog;

 

		•	Overhead or other expense reduction;

 

		•	Credit rating;

 

		•	Strategic plan development and implementation;

 

		•	Succession plan development and implementation;

 

		•	Customer indicators;

 

		•	New product invention or innovation;

 

		•	Attainment of research and development milestones;

 

		•	Attainment of objective operating goals and employee
metrics; and

 

		•	Any other metric that is capable of measurement as
determined by the Committee.

 

The Committee may,
in recognition of unusual or non-recurring items such as acquisition-related activities or changes in applicable accounting rules,
provide for one or more equitable adjustments (based on objective standards) to the Performance Factors to preserve the Committee’s
original intent regarding the Performance Factors at the time of the initial award grant. It is within the sole discretion of the
Committee to make or not make any such equitable adjustments.

 

“Performance
Period” means the period of service determined by the Committee, during which years of service or performance is
to be measured for the Award.

 

“Performance
Share” means a performance share bonus granted as a Performance Award.

 

    	15

    	 

    

 

“Permitted
Transferee” means any child, stepchild, grandchild, parent, stepparent, grandparent, spouse, former spouse, sibling,
niece, nephew, mother-in-law, father-in-law, son-in-law, daughter-in-law, brother-in-law, or sister-in-law (including adoptive
relationships) of the Employee, any person sharing the Employee’s household (other than a tenant or employee), a trust in
which these persons (or the Employee) have more than 50% of the beneficial interest, a foundation in which these persons (or the
Employee) control the management of assets, and any other entity in which these persons (or the Employee) own more than 50% of
the voting interests.

 

“Plan”
means this Soul and Vibe Interactive Inc. 2015 Equity Incentive Plan.

 

“Purchase
Price” means the price to be paid for Shares acquired under the Plan, other than Shares acquired upon exercise of
an Option or SAR.

 

“Restricted
Stock Award” means an award of Shares pursuant to Section 6 or Section 12 of the Plan, or issued pursuant to the
early exercise of an Option.

 

“Restricted
Stock Unit” means an Award granted pursuant to Section 9 or Section 12 of the Plan.

 

“SEC”
means the United States Securities and Exchange Commission.

 

“Securities
Act” means the United States Securities Act of 1933, as amended.

 

“Shares”
means shares of the Company’s Common Stock and the common stock of any successor security.

 

“Stock
Appreciation Right” means an Award granted pursuant to Section 8 or Section 12 of the Plan.

 

“Stock
Bonus” means an Award granted pursuant to Section 7 or Section 12 of the Plan.

 

“Subsidiary”
means any corporation (other than the Company) in an unbroken chain of corporations beginning with the Company if each of the corporations
other than the last corporation in the unbroken chain owns stock possessing fifty percent (50%) or more of the total combined voting
power of all classes of stock in one of the other corporations in such chain.

 

“Termination”
or “Terminated” means, for purposes of this Plan with respect to a Participant, that the Participant
has for any reason ceased to provide services as an employee, officer, director, consultant, independent contractor or advisor
to the Company or a Parent or Subsidiary of the Company. An employee will not be deemed to have ceased to provide services in the
case of (i) sick leave, (ii) military leave, or (iii) any other leave of absence approved by the Committee; provided, that such
leave is for a period of not more than 90 days, unless reemployment upon the expiration of such leave is guaranteed by contract
or statute or unless provided otherwise pursuant to formal policy adopted from time to time by the Company and issued and promulgated
to employees in writing. In the case of any employee on an approved leave of absence, the Committee may make such provisions respecting
suspension of vesting of the Award while on leave from the employ of the Company or a Parent or Subsidiary of the Company as it
may deem appropriate, except that in no event may an Award be exercised after the expiration of the term set forth in the applicable
Award Agreement. In the event of military leave, if required by applicable laws, vesting shall continue for the longest period
that vesting continues under any other statutory or Company approved leave of absence and, upon a Participant’s returning
from military leave (under conditions that would entitle him or her to protection upon such return under the Uniform Services Employment
and Reemployment Rights Act), he or she shall be given vesting credit with respect to Awards to the same extent as would have applied
had the Participant continued to provide services to the Company throughout the leave on the same terms as he or she was providing
services immediately prior to such leave. An employee shall have terminated employment as of the date he or she ceases to be employed
(regardless of whether the termination is in breach of local laws or is later found to be invalid) and employment shall not be
extended by any notice period or garden leave mandated by local law. The Committee will have sole discretion to determine whether
a Participant has ceased to provide services for purposes of the Plan and the effective date on which the Participant ceased to
provide services (the “Termination Date”).

 

“Unvested
Shares” means Shares that have not yet vested or are subject to a right of repurchase in favor of the Company (or
any successor thereto).

 

    	16

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