Document:

form8k021813ex10-1.htm

MINERALS LEASE AND AGREEMENT

Gent Claims – Lander County, Nevada

THIS MINERALS LEASE AND AGREEMENT (“Agreement”) is dated and effective this 18th of February, 2013 (“Effective Date”), by and between Nevada Mine Properties II, Inc., a Nevada corporation (“Lessor”), and Ranger Gold Corp. (“Lessee”).

RECITALS

A.           Lessor owns unpatented mining claims that comprise the property described in Schedule A, collectively referred to herein as the “Property.”

B.           Lessor desires to lease to Lessee, and Lessee desires to lease from Lessor, the right to conduct mineral exploration activities on and in the Property with the subsequent right to participate in the development of minerals from the Property subject to the terms and conditions of this Agreement.

THEREFORE, for good and valuable consideration, the receipt of which is hereby acknowledged, Lessor and Lessee agree as follows:

AGREEMENT

1.           Grant.

(a)           Lessor leases exclusively to Lessee, for a period of twenty (20) years with the right to renew, the right to prospect, explore and mine for Minerals, including the right to develop, mine, process, mill, prepare for market, store, market, sell, and dispose of Minerals, any easement rights across the property, and the right to erect, construct, maintain or operate buildings, structures, waste storage, ore impoundments or facilities on or in on and beneath the Property, and to use, occupy, excavate and disturb so much of the surface and subsurface of the Property as is reasonably necessary and convenient in exploring for and mining such Minerals, subject to the terms of this Agreement.

2.           Term

(a)           The term of this agreement shall commence on the effective date set forth above and shall continue for a term of twenty (20) years with the right to renew unless sooner terminated, forfeited or surrendered as provided in section 9 below. 

3.           Lease

The Lessor hereby grants to the Lessee the sole and exclusive right to lease (“Lease”) the Property under the terms as follows:

 

 

  

  

  

 

(a)           At signing, the Lessee paying the sum of $5,000 USD to the Lessor by way of cash and reimburse all holding costs and expenses of location of mining claims, such expenses to be identified in Schedule “C”;

(b)           Annually, on or before February 15 of each year of the Lease:

	
(i)  

	
The Lessee paying $5,000 USD to the Lessor;

	
(ii)  

	
Starting on the fifth anniversary of the lease the Lessee will be obligated to spend a minimum of $50,000 on the project as annual exploration expenditure requirements.  Any exploration programs undertaken by the Lessee during the Lease period shall constitute an aggregate and carry forward against any future expenditure requirements between the Lessor and Lessee.

	
(iii)  

	
Following which the Lessee shall have the right to enter into an additional 10 year contract with the Lessor.  The renewal of the contract will be based on payments and expenditures identified in 3(a) and 3(b)(i) and (ii), and will be adjusted for inflation from year 2018 onward in accordance with changes in the BLS index for industrial Commodities (Producer Price Index).  The base index will be the index for the month that is three months prior to the effective date of the lease.

All of the above Payments to Lessor are considered advance minimum royalty payments and will be an offset to production royalty due until the total amount paid to Lessor has been recouped.

(c)           The doing of any act or the incurrence of any cash payments by the                                                                                                           Lessee shall not obligate the Lessee to do any further acts or make any further payments with the exception of fees and expenses to keep said property in good standing as per paragraph 7.

(d)           For purposes of this Agreement, “Minerals” shall mean any and all metals, materials, minerals and mineral rights of whatever kind and nature, which are included in the Property.  A 3% NSR royalty includes all Mineral production from the Property. For definition purposes, the NSR royalty includes any benefit derived from the sale of or beneficial use of material from the property and is further defined in Schedule B.

4.           Representations and Warranties.

(a)           Lessor represents and warrants that it has not encumbered, mortgaged or conveyed its interest in the Property, including but not limited to conveying any royalty interest therein; and it has no knowledge of any pending litigation or other claims challenging its rights and title to the Property.

  

  

  

(b)           Lessee represents and warrants to Lessor that it is in good standing under the laws of the jurisdiction in which it is incorporated, and that it has all the requisite power, right and authority to enter into this Agreement, to perform its obligations under this Agreement, and to commit to this Agreement.  The execution and delivery of this Agreement and the consummation of the obligations, indemnities and payments provided herein have been duly and validly authorized by all necessary corporate or company action on the part of each party.

5.           Area of Interest.  For purposes of this Agreement, the Area of Interest is defined as all lands and minerals within two (2) miles of the area defined in Schedule A hereto.  Any claims located within the Area of Interest by the Lessee shall automatically become part of this agreement.  Any claims located by the Lessor within the Area of Interest will be offered to the Lessee.  In the event the Lessee accepts the offered claims, lessee shall pay all associated invoiced costs for staking incurred by the Lessor and the claims shall automatically become part of this agreement.  If the claims are rejected by the Lessee, then the proffered claims shall remain distinct and separate from the agreement while the area of interest identified above is retained.

6.           Construction and Mining Activities.  Subject to the terms of this section 6, if  Lessee determines that it desires to commence mine construction activities for the production of Minerals from any part of the Property, building of access roads to other portions of the property or adjacent properties, storage of waste materials, tailings or ore products upon the property or otherwise cause devaluation to the property, Lessee shall use industry standard industry practices to ensure that any area contemplated for construction of processing facilities or storage of waste upon the Property has been substantially tested to determine the lack of ore or sub-ore grade material, and will be required to secure all permits, obtain insurance and provide adequate bond with appropriate government agencies to cover any and all reclamation costs before commencement of any of the aforementioned construction activities.

7.           Property Maintenance.

(a)           Subject to the additional requirements under Section 11 below, for so long as this Agreement is in effect, Lessee shall reimburse all payments to Lessor as are necessary to keep the Lessor’s Property in good standing, including, but not limited to payment of any government filings, fees or taxes relating to Lessee’s operations on the Property, and satisfying any federal and state filing and bonding requirements for maintaining the Property in good standing for one year of termination.

(b)           Upon making any payment or filing to maintain the Property, Lessor shall promptly deliver to Lessee a copy of the documents that were filed and written evidence of any payment that was made along with an invoice for repayment of same within 20 days of receipt of invoice.  Lessor’s rights under this Section 9(b) shall not affect Lessor’s right to any other remedy for Lessee’s failure to reimburse said fees in accordance with this Agreement.  Lessor shall satisfy all county, state and federal requirements to maintain the Lessor Property in good standing and deliver to Lessee written documentation of such satisfaction at least 15 days prior to the legal deadline (whether required by statute, regulation, contract or otherwise) for satisfying such requirement.  If Lessee has not received the documentation required under this Section 9(c) within the prescribed time, Lessee may, but has no obligation to, satisfy such requirement(s).

  

  

  

8.           Reporting.  Lessee shall provide to Lessor annual reports of all activities and operations conducted on or in connection within the Lessor Property Area of Interest pursuant to this Agreement, together with copies of all factual data generated as a result of those activities or operations including all digital data, maps, drill logs, assays and any other data bearing on the mineral potential of the Property.  Those reports shall be provided to Lessor by March 1 of each calendar year.  Each annual report shall include details of:  (i) the preceding year’s activities, operations and expenditures with respect to the Lessor Property Area of Interest; (ii) exploration and ore reserve data for the previous year; and (iii) a summary of anticipated activities for the upcoming year.  The annual report required to be delivered by March 1 of each year shall be accompanied by digital factual data generated during the previous calendar year, to the extent the data exists in such format and hard copies of any other factual data bearing relevance to the Property’s mineral potential.  Reports due pursuant to this Section 8 shall be sent to:

Nevada Mine Properties II, Inc.,

5819 North White Sands Rd.

Reno, NV  89511 USA

Lessor may change such address from time to time by written notice to Lessee.

9.           Termination.

(a)           Subject to the terms of this Section 9, at any time after completion of thirty thousand dollars ($30,000.00) in Lease fees and payment of fees for federal and County filing for 2013-2016 in accordance with the schedule set forth in Section 3 (a) and (b) above, Lessee may terminate this Agreement upon providing Lessor 60 days advance written notice.  Upon termination, Lessee will have no further obligations, except for reclamation obligations and environmental responsibilities that accrued as determined by local, state and federal entities.

(b)           If Lessee defaults on any of its obligations under this Agreement, including, but not limited to its obligations under Sections 3, 4, 7, 11 and 12, Lessor may give Lessee written notice of the default or defaults.  If Lessee has not begun to cure any such default, other than a default that may be satisfied by cash payment, within 30 days from the date of delivery of such notice and completely cured such default within a reasonable time thereafter, Lessor may terminate this Agreement by written notice to Lessee.  Such termination by Lessor shall not affect Lessor’s rights to seek any other available remedies.

  

  

  

(c)           In the event that the Lessee declines to enter an offer of a joint venture, joint entity, partnership or other similar arrangement within or adjacent to the Property and the Lessor subsequently does enter into a definitive agreement under the same terms as those declined by the Lessee, then the Lessor may serve termination notice on Lessee.  Such termination shall be considered immediate upon receipt of notice and Lessee shall have no recourse, no residual rights of title, and no further financial obligations on the Property.  Upon any notice of termination of this Agreement, Lessee shall, within 30 days after the effective date of termination either, (i) surrender the Property to Lessor free and clear of any encumbrances, and deliver to Lessor a written instrument or instruments, in a form appropriate for recording and acceptable to Lessor, further evidencing termination of this Agreement and reconveyance of the Property, or; (ii) initiate the Lessee’s right of first refusal and agree to the terms of the offer identified in 9(c)(i) above.

(d)           Upon any termination of this Agreement, Lessee shall, within 30 days after the effective date of termination, (i) surrender the Property to Lessor free and clear of any encumbrances, and deliver to Lessor a written instrument or instruments, in a form appropriate for recording and acceptable to Lessor, further evidencing termination of this Agreement and reconveyance of the Property; (ii) satisfy all requirements to maintain the Property in good standing through 90 days after the effective date of termination, including, but not limited to payment of any taxes, and making any filings and payments necessary to maintain the Property that would become due during that period; and (iii) deliver to Lessor copies of all factual data including all available digital data obtained by Lessee in conducting activities or operations on the Property, not already provided to Lessor.  Upon any termination of this Agreement, Lessee shall promptly reclaim all disturbance caused by its activities on the Property in accordance with applicable statutory and regulatory requirements, unless Lessor agrees in writing to assume such reclamation obligations and relieve Lessee of the performance thereof.

10.           Transfer of Interests, Assignments.

(a)           Lessee and Lessor may assign or sell all or parts of their interest under this Agreement to any third party (the “Assignee”) without consent of either party (but upon notice) provided that the Assignee agrees to execute an acknowledgement to be bound by the terms hereof insofar as each party’s rights hereunder are concerned.

11.           Standard of Conduct; Environmental Compliance.

(a)           Lessee shall ensure that all activities conducted by, or on its behalf on the Property, is in compliance with the laws and regulations of the United States, the State of Nevada, and any local governmental entity with jurisdiction over the Property or activities thereon, including, but not limited to any laws or regulations regarding environmental protection or reclamation of the Property.  Lessee shall provide Lessor with satisfactory evidence of such compliance upon lessee’s receipt of such document.  All operations under this Agreement shall be conducted in a good and workmanlike manner in accordance with generally accepted mining practices.

  

  

  

(b)           Lessee shall provide to Lessor a copy of any permit application or other permitting documents relating to activities or operations on the Property after submission to the applicable government entity.

(c)           Should any unpermitted discharge, leakage, spillage, release, emission or pollution of any type occur upon, to or from the Property or overlying surface due to Lessee’s activities or possession, Lessee, at its sole expense, shall promptly clean and restore the Property and overlying surface to standards equal to or exceeding all standards adopted or required by any governmental body having jurisdiction over the affected property.

12.           Audit and Inspection.

(a)           Lessor shall be entitled to enter the Property for purposes of inspecting any of Lessee’s operations, facilities or structures at reasonable times, upon reasonable advance notice, provided that Lessor or its agents shall so enter at its own risk and shall indemnify and hold Lessee and its Affiliates harmless against and from any and all loss, cost, damage, liability and expense (including but not limited to reasonable attorneys fees and costs) by reason of injury to Lessor or its agents or representatives, or damage to or destruction of any property of Lessor or its agents or representatives while on the Property, or in such workings, facilities and structures, except to the extent that such injury, damage, or destruction is a result, in whole or in part, of the negligence of Lessee.  Lessor shall have the right during regular business hours to review and copy all of Lessee’s files and documents relating to activities on the Property.

(b)           If Lessor determines that activities or operations being conducted on the Property or overlying surface are in material non-compliance with applicable laws, regulations, ordinances or permits, Lessor may provide notice to Lessee, and Lessee shall immediately begin and promptly complete corrective action to bring such activities or operations into compliance.  If, after receiving such notice, Lessee does not promptly take corrective actions to Lessor’s reasonable satisfaction, Lessor may, but has no obligation to, take such actions as it deems necessary to bring Lessee’s operations into compliance, including, but not limited to taking over operational control of Lessee’s operations.  Lessee shall thereafter pay to Lessor one hundred fifty percent (150%) of Lessor’s costs for an amount equal to the costs reasonably incurred by Lessor in connection with such actions.  Lessor’s rights under this Section 12(b) shall not affect Lessor’s right to any other remedy for Lessee’s failure to comply with Section 12.

  

  

  

13.           Property As Is.  Lessee acknowledges that it has been given full access to the Property for its due diligence review.  Lessee acknowledges that the Property may have environmental and physical conditions related to prior mineral exploration or mining activities, including, but not limited to pits, adits, shafts and roads.  Prior to entering into this Agreement, Lessee has investigated the Property, including the environmental conditions on that property and the overlying surface, to its satisfaction.  Lessee is acquiring the interests in the Property hereunder “as is” without warranty of any kind as to the condition, suitability or usability of the Property for any purpose, or the ability to obtain any necessary permits or authorizations to access or mine the Property.  The parties intend that this “as is” provision shall be effective specifically with respect to environmental conditions, and any and all common law or statutory claims with respect thereto.  Lessee assumes the risk of any environmental contamination, hazardous substances and other conditions on or related to the Property and overlying surface.  Lessor makes no representation or warranty as to the accuracy or completeness of any environmental, geological, financial, operating or other information it has provided relating to the Property, and Lessee agrees that Lessor shall have no liability for any damages relating to any inaccuracies or incompleteness of such information.

14.           Indemnities.  Lessee shall fully indemnify, defend, release and hold harmless Lessor, its Affiliates and successors, and their agents, and employees from and against all loss, costs, penalties, expense, damage and liability (including without limitation, loss due to injury or death, reasonable attorneys fees, expert fees and other expenses incurred in defending against litigation or administrative enforcement actions, either pending or threatened), arising out of or relating to any claim or cause of action relating in any way to conditions, operations or other activities, whether known or unknown, at, or in connection with, the Property (including, but not limited to, any environmental conditions) created, existing or occurring prior to the date of this Agreement or while this Agreement is in effect, or arising out of or resulting from activities conducted by or on behalf of Lessee, its Affiliates or Assigns, which arise in whole or in part under any federal, state or local law, now existing or hereafter enacted, adopted or amended, including, without limitation, any statutory or common law governing liability to third parties for personal injury or property damage.  This indemnity shall survive termination of this Agreement.

15.           Liens.  Lessee shall keep the Property free of all encumbrances, adverse claims and liens, including, but not limited to, any mortgages, deeds of trust or liens for labor or materials furnished to it in its operations hereunder.

16.           General Provisions.

  

  

  

(a)           Notice.  All notices or other communications to either party shall be in writing and shall be sufficiently given if (i) delivered in person, (ii) sent by electronic communication, with confirmation sent by registered or certified mail, return receipt requested, (iii) sent by registered or certified mail, return receipt requested, or (iv) sent by overnight mail by a courier that maintains a delivery tracking system.  Subject to the following sentence, all notices shall be effective and shall be deemed delivered (i) if by personal delivery, on the date of delivery, (ii) if by electronic communication, on the date of receipt of the electronic communication, (iii) if by mail, on the date of delivery as shown on the actual receipt, and (iv) if by overnight courier, as documented by the courier’s tracking system.  If the date of such delivery or receipt is not a business day, the notice or other communication delivered or received shall be effective on the next business day (“business day” means a day, other than a Saturday, Sunday or statutory holiday observed by banks in the jurisdiction in which the intended recipient of a notice or other communication is situated.)  A party may change its address from time to time by notice to the other party as indicated above.  All notices to Lessor shall be addressed to:

Nevada Mine Properties II, Inc.,

5819 North White Sands Rd.

Reno, NV  89511 USA

All notices to Lessee shall be addressed to:

Ranger Gold Corp.

9120 Double Diamond Parkway,

Suite 5018

Reno, Nevada  89521

(b)           Inurement.  All covenants, conditions, indemnities, limitations and provisions contained in this Agreement apply to, and are binding upon, the parties to this Agreement, their heirs, representatives, successors and assigns.

(c)           Implied Covenants.  The only implied covenants in this Agreement are those of good faith and fair dealing.

(d)           Waiver.  No waiver of any provision of this Agreement, or waiver of any breach of this Agreement, shall be effective unless the waiver is in writing and is signed by the party against whom the waiver is claimed.  No waiver of any breach shall be deemed to be a waiver of any other subsequent breach.

(e)           Modification.  No modification, variation or amendment of this Agreement shall be effective unless it is in writing and signed by all parties to this Agreement.

(f)           Entire Agreement.  This Agreement sets forth the entire agreement of the parties with respect to the transactions contemplated herein and supercede any other agreement, representation, warranty or undertaking, written or oral, between Lessor and Lessee.

  

  

  

(g)           Memorandum.  A memorandum of this Agreement shall be recorded in the records of Grant County, New Mexico, promptly after execution of this Agreement.

(i)           Force Majeure.  If a party is prevented from completing any obligation under this Agreement, other than an obligation that may be satisfied by the payment of money, by a force majeure (the “Affected Obligation”), the Affected Obligation shall be suspended and that party shall not be deemed in default or liable for damages or other remedies as a result thereof for so long as that party is prevented from complying with the Affected Obligation by the force majeure.  For purposes of this Agreement, “force majeure” shall mean any matter (whether foreseeable or unforeseeable) beyond a party’s reasonable control, including but not limited to: acts of God, unusually inclement weather, acts of war, insurrection, riots or terrorism, lock-outs; inability to obtain necessary materials; damage to, destruction of, or unavoidable shut-down of necessary facilities or equipment; provided, that that party shall promptly notify the other party in writing of the existence of any event of force majeure, and shall exercise diligence and reasonable efforts to remove or overcome the cause of such inability to undertake the Affected Obligation, and shall recommence performance thereof as soon as reasonably possible.  The affected party shall thereafter have an additional period of time equal to the duration of the force majeure to complete the Affected Obligation.  Lessee shall remain obligated to meet the lease payment schedule under Section 3.

(j)           Further Assurances.  Each of the parties agrees that it shall take from time to time such actions and execute such additional instruments as may be reasonably necessary or convenient to implement and carry out the intent and purpose of this Agreement.

(k)           Attorneys Fees.  In any litigation between the parties to this Agreement or persons claiming under them resulting from, arising out of, or in connection with this Agreement or the construction or enforcement thereof, the substantially prevailing party or parties shall be entitled to recover from the defaulting party or parties, all reasonable costs, expenses, attorneys fees, expert fees, and other costs of suit incurred by it in connection with such litigation, including such costs, expenses and fees incurred prior to the commencement of the litigation, in connection with any appeals, and collecting any final judgment entered therein.  If a party or parties substantially prevails on some aspects of such action, but not on others, the court may apportion any award of costs and attorneys fees in such manner as it deems equitable.

(l)           Construction.  The section and paragraph headings contained in this Agreement are for convenience only, and shall not be used in the construction of this Agreement.  The invalidity of any provision of this Agreement shall not affect the enforceability of any other provision of this Agreement.

(m)           Currency.  All references to dollars herein shall mean United States dollars.

(n)           Governing Law.  This Agreement shall be governed by, interpreted and enforced in accordance with the laws of the State of Nevada, without regard to its conflicts of laws and provisions.

  

  

  

IN WITNESS WHEREOF, the parties have executed this Agreement as of the 18th day of February, 2013.

Nevada Mine Properties II, Inc.

By:_/s/ Herb Duerr_________________________________________________________

Name: Herb Duerr

Title: Vice President

Ranger Gold Corp.

By:_/s/ Gurpartap Singh Basrai_______________________

Name: Gurpartap Singh Basrai

Title: President

  

  

  

SCHEDULE “A”

	
  

	
Gent Property – Lander County, Nevada

	
  

	
Located within Township 32 North, Range 47 East, Section 8.

This agreement includes all listed claims and any open lands surrounding the claim group for a distance of one (1) mile from the boundary.

	
CLAIM NAME

	
NMC NUMBER

	
CLAIMANT’S NAME

	
Gent #1

	
359652

	
Nevada Mine Properties II

	
Gent #2

	
359653

	
Nevada Mine Properties II

	
Gent #3

	
359654

	
Nevada Mine Properties II

	
Gent #4

	
359655

	
Nevada Mine Properties II

  

  

  

SCHEDULE “B”

“Net Smelter Return” shall mean the aggregate proceeds received by the Lessee from time to time from any smelter or other purchaser from the sale of any ores, concentrates, metals or any other material of commercial value produced by and from the Property after deducting from such proceeds the following charges only to the extent that they are not deducted by the smelter or other purchaser in computing the proceeds:

(a)           The cost of transportation of the ores, concentrates or metals from the Property to such smelter or other purchaser, including related insurance;

(b)           Smelting and refining charges including penalties; and

The Lessee shall reserve and pay to the Lessor a NSR equal to three (3%) percent of Net Smelter Return.

Payment of NSR payable to the Lessor hereunder shall be made monthly within thirty (30) days after the end of each calendar month during which the Lessee receives payments on all products produced and used from the property and will be paid in US dollars or in kind bullion at the discretion of the Lessor.

Within (60) days after the end of each calendar year for which the NSR for such year shall be audited by the Lessee, any adjustments in the payments of NSR to the Lessor shall be made forthwith after completion of the audit. Lessor shall have the right, but not the obligation to audit and give written dispute of Lessee’s records within 180 days after the Lessee’s yearly audits.  All payments of NSR to the Lessor for a calendar year shall be deemed final and in full satisfaction of all obligations of the Lessee in respect thereof if such payments or the calculations thereof are not disputed by the Lessor of the same audited statement unless and until any new information is revealed after the time frames stated above. The Lessee shall maintain accurate records relevant to the determination of the NSR and the Lessor or its authorized agent, shall be permitted the right to examine such records at all reasonable times.

  

  

  

SCHEDULE “C”

Reimbursement costs for filing fees with County and Federal agencies

	
BLM Filing Fees:

	
4 @ $140.00

	 	$	560.00	 
	
County Annual Filing Fees:

	
4 @ $14 + $4

	 	$	60.00	 
	
Administrative Fees

	
$5/claim:

	 	$	20.00	 
	
Total

	  	 	$	640.00Warrant to purchase shares

 Exhibit 4.03 
 THIS WARRANT AND THE SHARES ISSUABLE HEREUNDER HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “ACT”), OR THE SECURITIES LAWS OF ANY STATE AND, EXCEPT AND PURSUANT TO
THE PROVISIONS OF ARTICLE 5 BELOW, MAY NOT BE OFFERED, SOLD OR OTHERWISE TRANSFERRED, PLEDGED OR HYPOTHECATED UNLESS AND UNTIL REGISTERED UNDER SAID ACT AND APPLICABLE STATE SECURITIES LAW OR, IN THE OPINION OF LEGAL COUNSEL IN FORM AND SUBSTANCE
SATISFACTORY TO THE ISSUER OF THESE SECURITIES, SUCH OFFER, SALE OR TRANSFER, PLEDGE OR HYPOTHECATION IS EXEMPT FROM REGISTRATION. 
 WARRANT TO PURCHASE STOCK 
  

			
	Company:	  	MODEL N, INC., a Delaware corporation
	Number of Shares:	  	That number of shares equal to $300,000 divided by the Warrant Price
	Class of Stock:	  	Series C Preferred
	Warrant Price:	  	$1.154 per share
	Issue Date:	  	October 19, 2010
	Expiration Date:	  	The 10th anniversary after the Issue Date
	Credit Facility:	  	This Warrant is issued in connection with the Second Amended and Restated Loan and Security Agreement between Company and Silicon Valley Bank dated October 19,
2010.

 THIS WARRANT CERTIFIES THAT, for good and valuable consideration, SILICON VALLEY BANK (Silicon Valley
Bank, together with any registered holder from time to time of this Warrant or any holder of the shares issuable or issued upon exercise of this Warrant, “Holder”) is entitled to purchase the number of fully paid and nonassessable shares
of the class of securities (the “Shares”) of the Company at the Warrant Price, all as set forth above and as adjusted pursuant to Article 2 of this Warrant, subject to the provisions and upon the terms and conditions set forth in this
Warrant. 
 ARTICLE 1 
 EXERCISE 
 1.1 Method of Exercise. Holder may exercise this Warrant
by delivering a duly executed Notice of Exercise in substantially the form attached as Appendix 1 to the principal office of the Company. Unless Holder is exercising the conversion right set forth in Article 1.2, Holder shall also deliver to the
Company a check, wire transfer (to an account designated by the Company), or other form of payment acceptable to the Company for the aggregate Warrant Price for the Shares being purchased. 

1.2 Conversion Right. In lieu of exercising this Warrant as specified in Article 1.1, Holder may from time to time convert this
Warrant, in whole or in part, into a number of Shares determined by dividing (a) the aggregate fair market value of the number of Shares being converted (or other securities otherwise issuable upon exercise of this Warrant) minus the aggregate
Warrant Price of such Shares by (b) the fair market value of one Share. The fair market value of the Shares shall be determined pursuant to Article 1.3. 
 1.3 Fair Market Value. If the Company’s common stock is traded in a public market and the Shares are common stock, the fair market value of each Share shall be the closing price of a Share
reported for the business day immediately before Holder delivers its Notice of Exercise to the Company (or in the instance where the Warrant is exercised 

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

1.6.1 “Acquisition”. For the purpose of this Warrant, “Acquisition” means any sale, license, or other
disposition of all or substantially all of the assets of the Company, or any reorganization, consolidation, or merger of the Company where the holders of the Company’s securities before the transaction beneficially own less than 50% of the
outstanding voting securities of the surviving entity after the transaction. 
 1.6.2 Treatment of Warrant at
Acquisition. 
 (A) Upon the written request of the Company, Holder agrees that, in the event of an Acquisition that is not
an asset sale and in which the sole consideration is cash, either (a) Holder shall exercise its conversion or purchase right under this Warrant and such exercise will be deemed effective immediately prior to the consummation of such Acquisition
or (b) if Holder elects not to exercise the Warrant, this Warrant will expire upon the consummation of such Acquisition. The Company shall provide Holder with written notice of its request relating to the foregoing (together with such
reasonable information as Holder may request in connection with such contemplated Acquisition giving rise to such notice), which is to be delivered to Holder not less than ten (10) days prior to the closing of the proposed Acquisition.

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

  
 2 

 
Warrant will continue until the Expiration Date if the Company continues as a going concern following the closing of any such True Asset Sale. The Company shall provide Holder with written notice
of its request relating to the foregoing (together with such reasonable information as Holder may request in connection with such contemplated Acquisition giving rise to such notice), which is to be delivered to Holder not less than ten
(10) days prior to the closing of the proposed Acquisition. 
 (C) Upon the written request of the Company, Holder agrees
that, in the event of a stock for stock Acquisition of the Company by a publicly traded acquirer, the Company may require the Warrant to be deemed automatically exercised and the Holder shall participate in the Acquisition as a holder of the Shares
(or other securities issuable upon exercise of the Warrant) on the same terms as other holders of the same class of securities of the Company. 
 (D) Upon the closing of any Acquisition other than those particularly described in subsections (A), (B) and (C) above, the successor entity shall assume the obligations of this Warrant, and this
Warrant shall be exercisable for the same securities, cash, and property as would be payable for the Shares issuable upon exercise of the unexercised portion of this Warrant as if such Shares were outstanding on the record date for the Acquisition
and subsequent closing. The Warrant Price and/or number of Shares shall be adjusted accordingly. 
 As used herein “Affiliate” shall
mean any person or entity that owns or controls directly or indirectly ten (10) percent or more of the stock of Company, any person or entity that controls or is controlled by or is under common control with such persons or entities, and each
of such person’s or entity’s officers, directors, joint venturers or partners, as applicable. 
 ARTICLE 2 

ADJUSTMENTS TO THE SHARES 
 2.1 Stock Dividends, Splits, Etc. If the Company declares or pays a dividend on the Shares payable in common stock, or other securities, then upon exercise of this Warrant, for each Share acquired,
Holder shall receive, without cost to Holder, the total number and kind of securities to which Holder would have been entitled had Holder owned the Shares of record as of the date the dividend occurred. If the Company subdivides the Shares by
reclassification or otherwise into a greater number of shares or takes any other action which increases the amount of stock into which the Shares are convertible, the number of shares purchasable hereunder shall be proportionately increased and the
Warrant Price shall be proportionately decreased. If the outstanding shares are combined or consolidated, by reclassification or otherwise, into a lesser number of shares, the Warrant Price shall be proportionately increased and the number of Shares
shall be proportionately decreased. 
 2.2 Reclassification, Exchange, Combinations or Substitution. Upon any
reclassification, exchange, substitution, or other event that results in a change of the number and/or class of the securities issuable upon exercise or conversion of this Warrant, Holder shall be entitled to receive, upon exercise or conversion of
this Warrant, the number and kind of securities and property that Holder would have received for the Shares if this Warrant had been exercised immediately before such reclassification, exchange, substitution, or other event. Such an event shall
include any automatic conversion of the outstanding or issuable securities of the Company of the same class or series as the Shares to common stock pursuant to the terms of the Company’s Articles or Certificate (as applicable) of Incorporation
upon the closing 

  
 3 

 
of a registered public offering of the Company’s common stock. The Company or its successor shall promptly issue to Holder an amendment to this Warrant setting forth the number and kind of
such new securities or other property issuable upon exercise or conversion of this Warrant as a result of such reclassification, exchange, substitution or other event that results in a change of the number and/or class of securities issuable upon
exercise or conversion of this Warrant. The amendment to this Warrant shall provide for adjustments which shall be as nearly equivalent as may be practicable to the adjustments provided for in this Article 2 including, without limitation,
adjustments to the Warrant Price and to the number of securities or property issuable upon exercise of the new Warrant. The provisions of this Article 2.2 shall similarly apply to successive reclassifications, exchanges, substitutions, or other
events. 
 2.3 Adjustments for Diluting Issuances. The Warrant Price and the number of Shares issuable upon exercise of
this Warrant or, if the Shares are preferred stock, the number of shares of common stock issuable upon conversion of the Shares, shall be subject to adjustment, from time to time in the manner set forth in the Company’s Articles or Certificate
of Incorporation as if the Shares were issued and outstanding on and as of the date of any such required adjustment. The provisions set forth for the Shares in the Company’s Articles or Certificate (as applicable) of Incorporation relating to
the above in effect as of the Issue Date may not be amended, modified or waived, without the prior written consent of Holder unless such amendment, modification or waiver affects the rights associated with the Shares in the same manner as such
amendment, modification or waiver affects the rights associated with all other shares of the same series and class as the Shares granted to Holder. 
 2.4 No Impairment. The Company shall not, by amendment of its Articles or Certificate (as applicable) of Incorporation or through a reorganization, transfer of assets, consolidation, merger,
dissolution, issue, or sale of securities or any other voluntary action, avoid or seek to avoid the observance or performance of any of the terms to be observed or performed under this Warrant by the Company, but shall at all times in good faith
assist in carrying out of all the provisions of this Article 2 and in taking all such action as may be necessary or appropriate to protect Holder’s rights under this Article against impairment. 

2.5 Fractional Shares. No fractional Shares shall be issuable upon exercise or conversion of this Warrant and the number of Shares
to be issued shall be rounded down to the nearest whole Share. If a fractional share interest arises upon any exercise or conversion of the Warrant, the Company shall eliminate such fractional share interest by paying Holder the amount computed by
multiplying the fractional interest by the fair market value of a full Share. 
 2.6 Certificate as to Adjustments. Upon
each adjustment of the Warrant Price, the Company shall promptly notify Holder in writing, and, at the Company’s expense, promptly compute such adjustment, and furnish Holder with a certificate of its Chief Financial Officer setting forth such
adjustment and the facts upon which such adjustment is based. The Company shall, upon written request, furnish Holder a certificate setting forth the Warrant Price in effect upon the date thereof and the series of adjustments leading to such Warrant
Price. 
 ARTICLE 3 
 REPRESENTATIONS AND COVENANTS OF THE COMPANY 
 3.1 Representations and
Warranties. The Company represents and warrants to Holder as follows: 

  
 4 

 (a) The initial Warrant Price referenced on the first page of this Warrant is not greater
than the price per share at which the Shares were last issued in an arms-length transaction in which at least $500,000 of the Shares were sold. 
 (b) All Shares which may be issued upon the exercise of the purchase right represented by this Warrant, and all securities, if any, issuable upon conversion of the Shares, shall, upon issuance, be duly
authorized, validly issued, fully paid and nonassessable, and free of any liens and encumbrances except for restrictions on transfer provided for herein or under applicable federal and state securities laws. 

(c) The Company’s capitalization table attached hereto as Schedule 1 is true and complete as of the Issue Date. 

3.2 Notice of Certain Events. If the Company proposes at any time (a) to declare any dividend or distribution upon any of its
stock, whether in cash, property, stock, or other securities and whether or not a regular cash dividend; (b) to offer for sale any shares of the Company’s capital stock (or other securities convertible into such capital stock), other than
(i) pursuant to the Company’s stock option or other compensatory plans, (ii) in connection with commercial credit arrangements or equipment financings, or (iii) in connection with strategic transactions for purposes other than
capital raising; (c) to effect any reclassification or recapitalization of any of its stock; (d) to merge or consolidate with or into any other corporation, or sell, lease, license, or convey all or substantially all of its assets, or to
liquidate, dissolve or wind up; or (e) offer holders of registration rights the opportunity to participate in an underwritten public offering of the Company’s securities for cash, then, in connection with each such event, the Company shall
give Holder: (1) at least 10 days prior written notice of the date on which a record will be taken for such dividend, distribution, or subscription rights (and specifying the date on which the holders of common stock will be entitled thereto)
or for determining rights to vote, if any, in respect of the matters referred to in (a) and (b) above; (2) in the case of the matters referred to in (c) and (d) above at least 10 days prior written notice of the date when
the same will take place (and specifying the date on which the holders of common stock will be entitled to exchange their common stock for securities or other property deliverable upon the occurrence of such event); and (3) in the case of the
matter referred to in (e) above, the same notice as is given to the holders of such registration rights. Company will also provide information requested by Holder reasonably necessary to enable Holder to comply with Holder’s accounting or
reporting requirements. 
 3.3 Registration Under Securities Act of 1933, as amended. The Company agrees that the Shares
or, if the Shares are convertible into common stock of the Company, such common stock, shall have certain “piggyback” and S-3 registration rights pursuant to and as set forth in the Company’s investor Rights Agreement or similar
agreement. The provisions set forth in the Company’s Investors’ Right Agreement or similar agreement relating to the above in effect as of the Issue Date may not be amended, modified or waived without the prior written consent of Holder
unless such amendment, modification or waiver affects the rights associated with the Shares in the same manner as such amendment, modification, or waiver affects the rights associated with all other shares of the same series and class as the Shares
granted to Holder. 
 3.4 No Shareholder Rights. Except as provided in this Warrant, Holder will not have any rights as a
shareholder of the Company until the exercise of this Warrant. 

  
 5 

 
ARTICLE 4 
 REPRESENTATIONS, WARRANTIES OF HOLDER 

Holder represents and warrants to the Company as follows: 
 4.1 Purchase for Own Account. This Warrant and the securities to be acquired upon exercise of this Warrant by Holder will be acquired for investment for Holder’s account, not as a nominee or
agent, and not with a view to the public resale or distribution within the meaning of the Act, Holder also represents that Holder has not been formed for the specific purpose of acquiring this Warrant or the Shares. 

4.2 Disclosure of Information. Holder has received or has had full access to all the information it considers necessary or
appropriate to make an informed investment decision with respect to the acquisition of this Warrant and its underlying securities. Holder further has had an opportunity to ask questions and receive answers from the Company regarding the terms and
conditions of the offering of this Warrant and its underlying securities and to obtain additional information (to the extent the Company possessed such information or could acquire it without unreasonable effort or expense) necessary to verify any
information furnished to Holder or to which Holder has access. 
 4.3 Investment Experience. Holder understands that the
purchase of this Warrant and its underlying securities involves substantial risk. Holder has experience as an investor in securities of companies in the development stage and acknowledges that Holder can bear the economic risk of such Holder’s
investment in this Warrant and its underlying securities and has such knowledge and experience in financial or business matters that Holder is capable of evaluating the merits and risks of its investment in this Warrant and its underlying securities
and/or has a preexisting personal or business relationship with the Company and certain of its officers, directors or controlling persons of a nature and duration that enables Holder to be aware of the character, business acumen and financial
circumstances of such persons. 
 4.4 Accredited Investor Status. Holder is an “accredited investor” within the
meaning of Regulation D promulgated under the Act. 
 4.5 The Act. Holder understands that this Warrant and the Shares
issuable upon exercise or conversion hereof have not been registered under the Act in reliance upon a specific exemption therefrom, which exemption depends upon, among other things, the bona fide nature of Holder’s investment intent as
expressed herein, Holder understands that this Warrant and the Shares issued upon any exercise or conversion hereof must be held indefinitely unless subsequently registered under the Act and qualified under applicable state securities laws, or
unless exemption from such registration and qualification are otherwise available. 
 ARTICLE 5 

MISCELLANEOUS 
 5.1 Term. This Warrant is exercisable in whole or in part at any time and from time to time on or before the Expiration Date. 

5.2 Legends. This Warrant and the Shares (and the securities issuable, directly or indirectly, upon conversion of the Shares, if
any) shall be imprinted with a legend in substantially the following form: 

  
 6 

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

 5.3 Compliance with Securities Laws on Transfer. This Warrant and the Shares issuable upon exercise of this Warrant
(and the securities issuable, directly or indirectly, upon conversion of the Shares, if any) may not be transferred or assigned in whole or in part without compliance with applicable federal and state securities laws by the transferor and the
transferee (including, without limitation, the delivery of investment representation letters and legal opinions reasonably satisfactory to the Company, as reasonably requested by the Company) and unless transferee makes each of the representations
and warranties set forth in Article 4 of this Warrant and agrees to be bound by all other provisions of this Warrant. The Company shall not require Silicon Valley Bank (“Bank”) to provide an opinion of counsel if the transfer is to
Bank’s parent company, SVB Financial Group (formerly Silicon Valley Bancshares), or any other affiliate of Bank. Additionally, the Company shall also not require an opinion of counsel if there is no material question as to the availability of
current information as referenced in Rule 144(c), Holder represents that it has complied with Rule 144(d) and (e) in reasonable detail, the selling broker represents that it has complied with Rule 144(f), and the Company is provided with a copy
of Holder’s notice of proposed sale. 
 5.4 Transfer Procedure. After receipt by Bank of the executed Warrant, Bank
will transfer all of this Warrant to SVB Financial Group by execution of an Assignment substantially in the form of Appendix 2. Subject to the provisions of Article 5.3 and upon providing the Company with written notice, SVB Financial Group and any
subsequent Holder may transfer all or part of this Warrant or the Shares issuable upon exercise of this Warrant (or the Shares issuable directly or indirectly, upon conversion of the Shares, if any) to any transferee, provided, however, in
connection with any such transfer, SVB Financial Group or any subsequent Holder will give the Company notice of the portion of the Warrant being transferred with the name, address and taxpayer identification number of the transferee and Holder will
surrender this Warrant to the Company for reissuance to the transferee(s) (and Holder if applicable). The Company may refuse to transfer this Warrant or the Shares to any person who directly competes with the Company, unless, in either case, the
stock of the Company is publicly traded. 
 5.5 Notices. All notices and other communications from the Company to Holder,
or vice versa, shall be deemed delivered and effective when given personally or mailed by first-class registered or certified mail, postage prepaid, at such address as may have been furnished to the Company or Holder, as the case may (or on the
first business day after transmission by facsimile) be, in writing by the Company or such Holder from time to time. Effective upon receipt of the fully executed Warrant and the initial transfer described in Article 5.4 above, all notices to Holder
shall be addressed as follows until the Company receives notice of a change of address in connection with a transfer or otherwise: 
 SVB Financial Group 
 Attn: Treasury Department 

3003 Tasman Drive, HA 200 
 Santa Clara, California 95054 
 Telephone: 408-654-7400 

Facsimile: 408-496-2405 

  
 7 

 Notice to the Company shall be addressed as follows until Holder receives notice of a change in address:

  

					
	Model N, Inc.
	1800 Bridge Parkway
	Redwood Shores, California 94065
	Attn: 	 	  
	 	
	Telephone:	 	
                    
                         
	 	
	Facsimile: 	 	  
	 	

 5.6 Waiver. This Warrant and any term hereof may be changed, waived, discharged or terminated only
by an instrument in writing signed by the party against which enforcement of such change, waiver, discharge or termination is sought. 
 5.7 Attorneys’ Fees. In the event of any dispute between the parties concerning the terms and provisions of this Warrant, the party prevailing in such dispute shall be entitled to collect from
the other party all costs incurred in such dispute, including reasonable attorneys’ fees. 
 5.8 Automatic Conversion
upon Expiration. In the event that, upon the Expiration Date, the fair market value of one Share (or other security issuable upon the exercise hereof) as determined in accordance with Section 1.3 above is greater than the Warrant Price in
effect on such date, then this Warrant shall automatically be deemed on and as of such date to be converted pursuant to Section 1.2 above as to ail Shares (or such other securities) for which it shall not previously have been exercised or
converted, and the Company shall promptly deliver a certificate representing the Shares (or such other securities) issued upon such conversion to Holder. 
 5.9 Counterparts. This Warrant may be executed in counterparts, all of which together shall constitute one and the same agreement. 

5.10 Market Stand-Off Provision. Holder hereby agrees to be bound by the “Market Stand-Off” provision (the “Market
Stand Off Provision”) in Section 1.12 of Company’s Amended and Restated Investors’ Rights Agreement dated December 12, 2003 (the “Rights Agreement”). The Market Stand-Off Provision set forth in the Rights Agreement
may not be amended, modified or waived without the prior written consent of Holder unless such amendment, modification or waiver affects the rights associated with all other shares of the same series and class as the Shares granted pursuant to this
Warrant. 
 5.11 Governing Law. This Warrant shall be governed by and construed in accordance with the laws of the State
of California, without giving effect to its principles regarding conflicts of law. 
 [Signature page follows.] 

  
 8 

			
	“COMPANY”
	
	MODEL N, INC.
		
	By:	 	 /s/ Marianne Zhen

		
	Name:	 	 Marianne Zhen

		
	Title:	 	 Corporate Controller

	
	“HOLDER”
	
	SILICON VALLEY BANK
		
	By:	 	 /s/ Mike Meier

		
	Name:	 	 Mike Meier

		
	Title:	 	 Relationship Manager

 SCHEDULE 1 
 CAPITALIZATION TABLE 
 Model N, Inc. 

Summary Capitalization Table 
  

																									
	 	  	Authorized
(as of 12/11/09)	 	  	Shares
as Issued	 	  	Conversion
Ratio	 	  	Shares
as Converted	 	  	% As Issued	 	 	% As Converted	 
							
	 Common Stock

(par value $0.00005):
	  	 	100,000,000	  	  	 	21,178,681	  	  	 	1.000000	  	  	 	21,178,681	  	  	 	38.76	% 	 	 	37.62	% 
							
	 Preferred Stock

(par value $0.00005):
	  				  				  				  				  				 			
	 Series A
	  	 	2,000,000	  	  	 	2,000,000	  	  	 	1.000000	  	  	 	2,000,000	  	  	 	3.66	% 	 	 	3.55	% 
	 Series B
	  	 	8,571,428	  	  	 	8,571,428	  	  	 	1.192095	  	  	 	10,217,960	  	  	 	15.69	% 	 	 	18.15	% 
	 Series C
	  	 	10,000,000	  	  	 	9,532,063	  	  	 	1.000000	  	  	 	9,532,063	  	  	 	17.44	% 	 	 	16.93	% 
							
	 Warrant:
	  				  				  				  				  				 			
	 Series C
	  				  	 	259,965	  	  	 	1.000000	  	  	 	259,965	  	  	 	0.48	% 	 	 	0.46	% 
							
	 2000 Stock Plan:
	  				  				  				  				  				 			
	 Outstanding
	  				  	 	10,537,143	  	  	 	1.000000	  	  	 	10,537,143	  	  	 	19.28	% 	 	 	18.72	% 
							
	 2010 Equity Incentive Plan:
	  				  				  				  				  				 			
	 Outstanding
	  				  	 	2,469,532	  	  	 	1.000000	  	  	 	2,469,532	  	  	 	4.52	% 	 	 	4.39	% 
	 Available for Grant
	  				  	 	94,529	  	  	 	1.000000	  	  	 	94,529	  	  	 	0.17	% 	 	 	0.17	% 
		  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	 	  
	  
	 
							
	 Totals:
	  				  	 	54,643,341	  	  				  	 	56,289,873	  	  	 	100.00	% 	 	 	100.00	% 
		  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	 	  
	  
	 

 APPENDIX 1 
 NOTICE OF EXERCISE 
 1. Holder elects to purchase
                 shares of the Common/Series                  Preferred
[strike one] Stock of Model N, Inc. pursuant to the terms of the attached Warrant, and tenders payment of the purchase price of the shares in full. 
 [or] 
 1. Holder elects to convert the attached Warrant into Shares/cash [strike
one] in the manner specified in the Warrant. This conversion is exercised for                      of the Shares covered by the Warrant.

 [Strike paragraph that does not apply.] 
 2. Please issue a certificate or certificates representing the shares in the name specified below: 
  

	
	  

	 Holders Name

	
	  

	
	  

	 (Address)

 3. By its execution below and for the benefit of the Company, Holder hereby restates each of the
representations and warranties in Article 4 of the Warrant as the date hereof and agrees to be bound by all other provisions of this Warrant. 
  

			
	HOLDER:
	
	  

		
	By:	 	  

		
	Name:	 	  

		
	Title:	 	  

		
	(Date):	 	  

 APPENDIX 2 
 ASSIGNMENT 
 For value received, Silicon Valley Bank hereby sells,
assigns and transfers unto 
  

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

 that certain Warrant to Purchase Stock issued by Model N, Inc. (the “Company”), on October 15, 2010 (the
“Warrant”) together with all rights, title and interest therein. 
  

			
	SILICON VALLEY BANK
		
	By:	 	  

	Name:	 	
	Title:	 	

  

			
	Date:	 	  

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

			
	SVB FINANCIAL GROUP
		
	By:	 	  

	Name:	 	  

	Title:

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