Document:

EX-10.17

 Exhibit 10.17 

EMPLOYMENT AGREEMENT 

This EMPLOYMENT AGREEMENT (“Agreement”), effective as of January 1, 2014 (the “Effective Date”), is
made by and between AIRGAIN, INC. (the “Company”), and GLENN SELBO (“Employee”). 
 WHEREAS, Employee is
employed by the Company as its Chief Operating Officer; 
 WHEREAS, the Board of Directors of the Company (the “Board”) has
determined that it is in the best interests of the Company and its shareholders to continue to employ Employee as the Company’s Chief Operating Officer under revised terms and conditions; and 

WHEREAS, Employee desires to continue as the Company’s Chief Operating Officer and to accept such revised terms and conditions of
employment as are contained in this Agreement. 
 NOW, THEREFORE, in consideration of the promises and mutual covenants contained herein and
for other good and valuable consideration, the receipt of which is mutually acknowledged, the Company and Employee (individually a “Party” and together the “Parties”) agree as follows: 

AGREEMENT 
 1.
Effective Date. 
 Employee’s employment under the terms of this Agreement shall commence on the Effective Date. 

2. At-will Employment. 

Employee’s employment relationship with the Company under this Agreement (“Employment”) is at-will, terminable at any
time and for any reason by either the Company or Employee. While certain sections of this Agreement describe events that could occur at a particular time in the future, nothing in this Agreement shall be construed as a guarantee of employment of any
length. 
 3. Employment Duties. 

a. Title/Responsibilities. Employee shall be the Chief Operating Officer of the Company, reporting to the Chief Executive Officer and
President (the “CEO”) of the Company. Employee shall perform all of the duties and responsibilities of such offices set forth in the Bylaws of the Company and those commonly associated with such offices and such further duties and
responsibilities as may from time to time be assigned to him by the Board or the CEO. 
 b. Full-Time Attention. Employee shall
devote his full time, attention, energy and skills to the Company during the period he is employed under this Agreement. 
 c. Policy
Compliance. Employee shall comply with all of the Company’s policies, practices and procedures, as well as, all applicable laws. Employee has previously executed and delivered to the Company the Confidentiality and Inventions Assignment

  
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Agreement (the “Confidentiality and Inventions Assignment Agreement”) attached hereto as Exhibit 1. 

4. Compensation. 
 a.
Base Salary. The Company shall pay Employee a base salary of $225,000 per year, or such higher amount as the Board may determine from time to time, less applicable federal and state withholding taxes, in accordance with the Company’s
regular payroll practices (the “Base Salary”). 
 b. Annual Bonus Compensation. In addition to the Base Salary,
Employee will be eligible to receive an incentive bonus (the “Bonus”) at an initial target for CY 2014 of 50% of Base Salary. 

c. Stock Options. As soon as practicable following the execution of this Agreement, the Company shall grant to Employee stock options
to purchase an aggregate of 225,000 shares of the Company’s common stock (the “Stock Option”). The Stock Option shall vest as follows: 25% of the original number of shares subject to the Stock Option shall vest on each of
the first four anniversaries of the date of grant, subject to Employee’s continued service to the Company through each such vesting date, so that all of the shares subject to the Stock Option shall be vested on the fourth (4th) anniversary of the date of grant. Notwithstanding the foregoing, the Stock Option shall become fully vested and exercisable, in the event of Employee’s termination of employment by the
Company without Cause (as defined below), or Employee’s Resignation for Good Reason (as defined below), in each case following a Change in Control (as defined below). The Stock Option will be granted pursuant to the Company’s 2013 Equity
Incentive Plan (the “Plan”). The Stock Option will have an exercise price per share equal to the then-current fair market value per share of the common stock of the Company (as determined pursuant to the Plan) on the date the
grant is approved by the Board. The Stock Option shall be an incentive stock option to the extent permitted under Section 422 of the Internal Revenue Code of 1986, as amended (the “Code”). The Stock Option shall have
a ten-year term and shall be subject to the terms and conditions of the Plan and the stock option agreement pursuant to which the Stock Option is granted. 

d. Additional Equity Awards. Employee shall be entitled to participate in any equity or other employee benefit plan that is generally
available to senior executive officers, as distinguished from general management, of the Company. Except as otherwise provided in this Agreement, Employee’s participation in and benefits under any such plan shall be on the terms and subject to
the conditions specified in the governing document of the particular plan. 
 e. Employee Benefits. Employee shall be entitled to
participate in all employee benefit plans, programs and arrangements maintained by the Company and made available to employees generally, including, without limitation, bonus, retirement, profit sharing and savings plans and medical, disability,
dental, life and accidental death and dismemberment insurance plans. 
 f. Reimbursement of Expenses. During his Employment with the
Company, Employee shall be entitled to reimbursement for all reasonable and necessary business expenses incurred on behalf of the Company, including without limitation, travel and entertainment expenses, business supplies and communication expenses,
in accordance with the Company’s policies and procedures. 

  
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 5. Voluntary Resignation or Termination for “Cause.” 

a. Payment upon Voluntary Resignation other than for Good Reason or Termination for Cause. If Employee voluntarily resigns his
Employment other than for Good Reason or if Employee is terminated for Cause, the Company shall pay Employee the following: (i) all accrued and unpaid Base Salary, if any is due, through the date of termination and any vacation which is accrued
but unused as of such date; (ii) Employee’s business expenses that are reimbursable pursuant to this Agreement and Company policies, but which have not been reimbursed by the Company as of the date of termination; and (iii) the
Employee’s Bonus compensation for the calendar year immediately preceding the year in which the date of termination occurs if such Bonus has been determined but not paid as of the date of termination (payable at the time such Bonus would
otherwise have been paid to Employee, but in no event later than March 15 of the year in which the date of termination occurs) (collectively, the “Accrued Obligations”). Employee shall not be eligible for severance payments
under Sections 6, 7 or 8 below, or any continuation of benefits (other than as required by law), or any other compensation pursuant to this Agreement or otherwise. 

b. Definition of “Cause”. As set forth above, the employment relationship between the Parties is at-will, terminable at any
time by either Party for any reason or no reason. The termination may nonetheless be for “Cause”. For purposes of this Agreement, “Cause” is defined as the Company’s good faith determination of:
(i) Employee’s material breach of this Agreement or the Confidentiality and Inventions Assignment Agreement or the definitive agreements relating to the Stock Option referenced in Section 4(c) above; (ii) Employee’s
continued substantial and material failure or refusal to perform according to, or to comply with, the policies, procedures or practices established by the Company; (iii) the appropriation (or attempted appropriation) of a material business
opportunity of the Company, including attempting to secure or securing any personal profit in connection with any transaction entered into on behalf of the Company; (iv) the misappropriation (or attempted appropriation) of any of the
Company’s funds or property of any kind; (v) willful gross misconduct; or (vi) Employee’s conviction of a felony involving moral turpitude that is likely to inflict or has inflicted material injury on the business of the Company;
provided, however, that except for Cause being the result of item (vi) above, the Company shall provide written notice to Employee, which notice specifically identifies the nature of the alleged Cause claimed by the Company with enough
specificity for Employee to be able to cure, and Employee shall thereafter have fifteen (15) days to cure the purported ground(s) for Cause. 

c. Definition of “Good Reason”. For purposes of this Agreement, “Good Reason” and “Resignation for
Good Reason” are defined as: 
  

	 	i.	a material reduction in Employee’s authority, duties or responsibilities relative to Employee’s authority, duties or responsibilities in effect immediately prior to such reduction; as set forth in this
Agreement; 

  

	 	ii.	a material reduction by the Company in Employee’s base salary relative to Employee’s base salary in effect immediately prior to such reduction (and the Parties agree that a reduction of ten percent
(10%) or more will be considered material for purposes of this clause (ii)), other than a general reduction in the base salaries of similarly-situated employees of the Company; 

 

	 	iii.	 a relocation of Employee’s or the Company’s principal

  
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executive offices to a location outside of San Diego County, if Employee’s principal office is at such offices; or 

 

	 	iv.	the Company’s material breach of this Agreement; 

 provided, however, that Employee must provide written
notice to the Board of the condition that could constitute a “Good Reason” event within ninety (90) days of the initial existence of such condition and such condition must not have been remedied by the Company within thirty
(30) days (the “Cure Period”) of such written notice. Employee’s Resignation for Good Reason must occur within six (6) months following the initial existence of such condition. 

6. Termination Without “Cause” or “Resignation for Good Reason”. In the event Employee is terminated without Cause
or resigns for Good Reason, Employee shall be entitled to: 
 a. the Accrued Obligations; plus 

b. subject to Employee’s execution and non-revocation of a full and final Release (as defined in Section 9 below) and
Employee’s continued compliance with the Confidentiality and Inventions Assignment Agreement, severance pay in an amount equal to six (6) months’ Base Salary as in effect immediately prior to the date of termination, payable in a lump
sum on the date that is thirty (30) days following the date of termination; plus 
 c. subject to Employee’s execution and
non-revocation of a full and final Release and Employee’s continued compliance with the Confidentiality and Inventions Assignment Agreement, for the period beginning on the date of Employee’s termination of employment and ending on the
date which is six (6) full months following the date of Employee’s termination of employment (or, if earlier, the date on which the applicable continuation period under the Consolidated Omnibus Budget Reconciliation Act of 1985, as amended
(“COBRA”) expires) (the “COBRA Coverage Period”), the Company shall arrange to provide Employee and his eligible dependents who were covered under the Company’s health insurance plans as of the date of
Employee’s termination of employment with health (including medical and dental) insurance benefits substantially similar to those provided to Employee and his dependents immediately prior to the date of such termination. If the Company is not
reasonably able to continue health insurance benefits coverage under the Company’s insurance plans, the Company shall provide substantially equivalent coverage under other third-party insurance sources. If any of the Company’s health
benefits are self-funded as of the date of Employee’s termination of employment, or if the Company cannot provide the foregoing benefits in a manner that is exempt from or otherwise compliant with applicable law (including, without limitation,
Section 409A of the Code and Section 2716 of the Public Health Service Act), instead of providing continued health insurance benefits as set forth above, the Company shall instead pay to Employee an amount equal to the monthly premium
payment for Employee and his eligible dependents who were covered under the Company’s health plans as of the date of Employee’s termination of employment (calculated by reference to the premium as of the date of termination) as currently
taxable compensation in substantially equal monthly installments over the COBRA Coverage Period (or the remaining portion thereof). 
 7.
Employee’s Disability or Death. Employee’s employment shall terminate automatically in the event of Employee’s death or termination of employment by reason of his “Disability.” In the event of Employee’s death or
termination of employment as a result of Employee’s Disability, Employee or his heirs shall be entitled to (a) the Accrued Obligations, 

  
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plus (b) payment of an amount equal to Employee’s “earned” Bonus for the calendar year during which Employee’s date of termination occurs calculated as of the date of
termination (wherein “earned” means that Employee has met the applicable bonus metrics as of date of such termination, as determined by the Board), prorated for such portion of the calendar year during which such termination occurs that
has elapsed through the date of termination, payable in a lump sum on the date that is thirty (30) days following the date of termination. For purposes of this Agreement, “Disability” shall mean the Employee’s failure to perform
his duties hereunder, for a period of not less than one hundred twenty (120) consecutive days because of Employee’s incapacitation due to physical or mental injury, disability, or illness. 

8. Change in Control Termination. 

a. Payment Upon Change in Control Termination. In the event of a “Change in Control Termination”, as defined below,
Employee shall be entitled to: 
  

	 	i.	the Accrued Obligations; plus 

  

	 	ii.	subject to Employee’s execution and non-revocation of a full and final Release and Employee’s continued compliance with the Confidentiality and Inventions Assignment Agreement, severance pay in an amount equal
to the sum of (A) twelve (12) months’ Base Salary as in effect immediately prior to the date of termination, plus (B) Employee’s target Bonus for the calendar year during which such date of termination occurs, payable in a
lump sum on the date that is thirty (30) days following the date of termination; plus 

  

	 	iii.	 subject to Employee’s execution and non-revocation of a full and final Release and Employee’s continued
compliance with the Confidentiality and Inventions Assignment Agreement, for the period beginning on the date of Employee’s termination of employment and ending on the date which is eighteen (18) full months following the date of
Employee’s termination of employment (or, if earlier, the date on which the applicable continuation period under COBRA expires) (the “CIC COBRA Coverage Period”), the Company shall arrange to provide Employee and his eligible
dependents who were covered under the Company’s health insurance plans as of the date of Employee’s termination of employment with health (including medical and dental) insurance benefits substantially similar to those provided to Employee
and his dependents immediately prior to the date of such termination. If the Company is not reasonably able to continue health insurance benefits coverage under the Company’s insurance plans, the Company shall provide substantially equivalent
coverage under other third-party insurance sources. If any of the Company’s health benefits are self-funded as of the date of Employee’s termination of employment, or if the Company cannot provide the foregoing benefits in a manner that is
exempt from or otherwise compliant with applicable law (including, without limitation, Section 409A of the Code and Section 2716 of the Public Health Service Act), instead of providing continued health insurance benefits as set

  
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forth above, the Company shall instead pay to Employee an amount equal to the monthly premium payment for Employee and his eligible dependents who were covered under the Company’s health
plans as of the date of Employee’s termination of employment (calculated by reference to the premium as of the date of termination) as currently taxable compensation in substantially equal monthly installments over the CIC COBRA Coverage Period
(or the remaining portion thereof). 

 b. Definition of “Change in Control Termination”. A “Change in
Control Termination” occurs if Employee (i) is terminated without Cause, or (ii) terminates his employment pursuant to a Resignation for Good Reason, in each case within twelve (12) months following a “Change in
Control” (as defined below). For purposes of this Agreement, a “Change in Control” 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) (other than the Company, any of its
subsidiaries, or any existing shareholder of the Company) becomes the “beneficial owner” (as defined in Rule 13d-3 of the Securities and Exchange Act of 1934, as amended), 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, liquidation or disposition by the Company of all or substantially all of the Company’s assets; or 
 iii.
The consummation of a merger, consolidation, reorganization or other similar transaction involving the Company (“Transaction”) in each case, in which the voting securities of the Company outstanding immediately prior thereto do not
continue 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 power represented by the voting securities of the Company or such
surviving entity or its parent outstanding immediately after such Transaction. 
 In addition, if a Change in Control constitutes a payment
event with respect to any payment under this Agreement which provides for the deferral of compensation and is subject to Section 409A of the Code, the transaction or event described in clause (i), (ii) or (iii) with respect to such
payment must also constitute a “change in control event,” as defined in Treasury Regulation Section 1.409A-3(i)(5) to the extent required by Section 409A of the Code. 

9. Release. Notwithstanding any provision to the contrary in this Agreement, no amount shall be paid or benefit provided pursuant to
Section 6 or Section 8 (other than the Accrued Obligations) and no accelerated vesting of the Stock Option shall occur as a result of Employee’s termination of employment pursuant to Section 4(c) unless, on or prior to the
thirtieth (30th) day following the date of Employee’s termination of employment, an effective general release of claims agreement (the “Release”) in substantially the
form attached hereto as Exhibit 2 has been executed by Employee and remains effective on such date and any applicable revocation period thereunder has expired. 

10. Notices. Any reports, notices or other communications required or permitted to be given by either Party hereto, shall be given in
writing by personal delivery, overnight courier service, or by registered or certified mail, postage prepaid, return receipt requested, addressed to 

  
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each respective Party at the address shown below: 
 If to Company: 

AIRGAIN, INC. 
 1930 Palomar Point
Way, Suite 107 
 Carlsbad, CA 92008 

Fax: (760) 579-0892 
 Attn:
Chairman of the Board 
 If to Employee: 
  

							
		 	Glenn Selbo	 		  	
		 	  
	 		  	
		 	  
	 		  	
		 	  
	 		  	

 11. Notice of Termination. Any purported termination of Employment by the Company or the Employee shall
be communicated by written Notice of Termination to the other Party. For purposes of this Agreement, a “Notice of Termination” shall mean a notice which indicates, if applicable, the specific termination provision in this Agreement
relied upon and shall set forth in reasonable detail the facts and circumstances claimed to provide a basis for termination of the Employee’s employment under the provision so indicated. For purposes of this Agreement, no such purported
termination of employment shall be effective without delivery of such a Notice of Termination. 
 12. General Provisions. 

a. Governing Law; Venue. This Agreement shall be governed by and construed in accordance with the laws of the State of California
without regard to the conflicts of laws principles thereof. Employee and the Company agree that any litigation regarding this Agreement shall be conducted in San Diego, California. Employee and the Company hereby consent to the jurisdiction of the
courts of the State of California and the United States District Court for the Southern District of California. 
 b. Assignment;
Assumption by Successor. The rights of the Company under this Agreement may, without the consent of Employee, be assigned by the Company, in its sole and unfettered discretion, to any person, firm, corporation or other business entity which at
any time, whether by purchase, merger or otherwise, directly or indirectly, acquires all or substantially all of the assets or business of the Company. The Company will require any successor (whether direct or indirect, by purchase, merger or
otherwise) to all or substantially all of the business or assets of the Company expressly to assume and to agree to perform this Agreement in the same manner and to the same extent that the Company would be required to perform it if no such
succession had taken place; provided, however, that no such assumption shall relieve the Company of its obligations hereunder. As used in this Agreement, the “Company” shall mean the Company as hereinbefore defined and any successor
to its business and/or assets as aforesaid which assumes and agrees to perform this Agreement by operation of law or otherwise. 
 c. No
Waiver of Breach. The failure to enforce any provision of this 

  
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Agreement shall not be construed as a waiver of any such provision, nor prevent a Party thereafter from enforcing the provision or any other provision of this Agreement. The rights granted the
Parties are cumulative, and the election of one shall not constitute a waiver of such Party’s right to assert all other legal and equitable remedies available under the circumstances. 

d. Severability. The provisions of this Agreement are severable, and if any provision shall be held to be invalid or otherwise
unenforceable, in whole or in part, the remainder of the provisions, or enforceable parts of this Agreement, shall not be affected. 
 e.
Entire Agreement. This Agreement and the Confidentiality and Inventions Assignment Agreement constitute the entire agreement of the Parties with respect to the subject matter of this Agreement and supersede all prior and contemporaneous
negotiations, agreements and understandings between the Parties, whether oral or written, including, without limitation, any offer letter between the parties. 

f. Modifications and Waivers. No modification or waiver of this Agreement shall be valid unless in writing, signed by the Party against
whom such modification or waiver is sought to be enforced. 
 g. Amendment. This Agreement may be amended or supplemented only by a
writing signed by both of the Parties hereto. 
 h. Duplicate Counterparts; Facsimile. This Agreement may be executed in duplicate
counterparts, each of which shall be deemed an original; provided, however, such counterparts shall together constitute only one agreement. Facsimile signatures or signatures sent via electronic mail shall be as effective as original signatures.

 i. Interpretation. The headings contained in this Agreement are for reference purposes only and shall not affect in any way the
meaning or interpretation of this Agreement. 
 j. Non-transferability of Interest. None of the rights of Employee to receive any
form of compensation payable pursuant to this Agreement shall be assignable or transferable except through a testamentary disposition or by the laws of descent and distribution upon the death of Employee. Any attempted assignment, transfer,
conveyance, or other disposition (other than as aforesaid) of any interest in the rights of Employee to receive any form of compensation to be made by the Company pursuant to this Agreement shall be void. 

k. Construction. The language in all parts of this Agreement shall in all cases be construed simply, according to its fair meaning, and
not strictly for or against any of the parties hereto. Without limitation, there shall be no presumption against any party on the ground that such party was responsible for drafting this Agreement or any part thereof. 

l. Section 409A. 

i. Notwithstanding anything to the contrary in this Agreement, no payment or benefit to be paid or provided to Employee upon his termination
of employment, if any, pursuant to this Agreement that, when considered together with any other payments or benefits, are considered deferred compensation under Section 409A (together, the “Deferred Payments”) will be paid or
otherwise provided until Employee has a “separation from service” within the meaning of Section 409A. Similarly, no amounts payable to Employee, if any, pursuant to this Agreement that otherwise would be exempt from Section 409A
pursuant to 

  
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Treasury Regulation Section 1.409A-1(b)(9) will be payable until Employee has a “separation from service” within the meaning of Section 409A. 

ii. Notwithstanding anything to the contrary in this Agreement, if Employee is a “specified employee” within the meaning of
Section 409A at the time of Employee’s termination of employment (other than due to death), then the Deferred Payments that are payable within the first six (6) months following Employee’s separation from service, will become
payable on the first payroll date that occurs on or after the date six (6) months and one (1) day following the date of Employee’s separation from service. All subsequent Deferred Payments, if any, will be payable in accordance with
the payment schedule applicable to each payment or benefit. Notwithstanding anything herein to the contrary, if Employee dies following Employee’s separation from service, but prior to the six (6) month anniversary of the separation from
service, then any payments delayed in accordance with this paragraph will be payable in a lump sum as soon as administratively practicable after the date of Employee’s death and all other Deferred Payments will be payable in accordance with the
payment schedule applicable to each payment or benefit. Each payment and benefit payable under this Agreement is intended to constitute a separate payment for purposes of Section 1.409A-2(b)(2) of the Treasury Regulations. 

iii. Any amount paid under this Agreement that satisfies the requirements of the “short-term deferral” rule set forth in
Section 1.409A-1(b)(4) of the Treasury Regulations will not constitute a Deferred Payment for purposes of clauses (i) and (ii) above. 

iv. Any amount paid under this Agreement that qualifies as a payment made as a result of an involuntary separation from service pursuant to
Section 1.409A-1(b)(9)(iii) of the Treasury Regulations that does not exceed the limits set forth therein will not constitute a Deferred Payment for purposes of clauses (i) and (ii) above. 

v. This Agreement is intended to be written, administered, interpreted and construed in a manner such that no payment or benefits provided
under the Agreement become subject to (A) the gross income inclusion set forth within Code Section 409A(a)(1)(A) or (B) the interest and additional tax set forth within Code Section 409A(a)(1)(B) (together, referred to herein as
the “Section 409A Penalties”), including, where appropriate, the construction of defined terms to have meanings that would not cause the imposition of Section 409A Penalties. In no event shall the Company be required to provide
a tax gross-up payment to Employee or otherwise reimburse Employee with respect to Section 409A Penalties. The Company and Employee agree to work together in good faith to consider amendments to this Agreement and to take such reasonable
actions which are necessary, appropriate or desirable to avoid imposition of any Section 409A Penalties on Employee. 
 vi. Any
reimbursement of expenses or in-kind benefits payable under this Agreement shall be made in accordance with Treasury Regulation Section 1.409A-3(i)(1)(iv) and shall be paid on or before the last day of Employee’s taxable year following the
taxable year in which Employee incurred the expenses. The amount of expenses reimbursed or in-kind benefits payable in one year shall not affect the amount eligible for reimbursement or in-kind benefits payable in any other taxable year of
Employee’s, and Employee’s right to reimbursement for such amounts shall not be subject to liquidation or exchange for any other benefit. 

(Signature Page Follows) 

  
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 IN WITNESS WHEREOF, the Parties have executed this Agreement as of the date(s) set forth below.

  

									
		 		 		 	AIRGAIN, INC.
					
	Dated:	 	 February 18, 2014
	 		 	By:	 	 /s/ Charles A. Myers

					
		 		 		 	Name:	 	 Charles A. Myers

					
		 		 		 	Title:	 	 CEO

				
		 		 		 	EMPLOYEE
				
	Dated:	 	 February 18, 2014
	 		 	 /s/ Glenn Selbo

		 		 		 	GLENN SELBO

  
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 EXHIBIT 2 

GENERAL RELEASE OF CLAIMS 

[The language in this Release may change based on legal developments and evolving best practices; this form is provided as an example
of what will be included in the final Release document.] 
 This General Release of Claims (“Release”) is
entered into as of this      day of             ,         , between GLENN SELBO (“Employee”), and AIRGAIN, INC.,
a California corporation (the “Company”) (collectively referred to herein as the “Parties”). 
 WHEREAS,
Employee and the Company are parties to that certain Employment Agreement effective as of January 1, 2014 (the “Agreement”); 

WHEREAS, the Parties agree that Employee is entitled to certain severance benefits under the Agreement, subject to Employee’s execution
of this Release; and 
 WHEREAS, the Company and Employee now wish to fully and finally to resolve all matters between them. 

NOW, THEREFORE, in consideration of, and subject to, the severance benefits payable to Employee pursuant to the Agreement, the adequacy of
which is hereby acknowledged by Employee, and which Employee acknowledges that he would not otherwise be entitled to receive, Employee and the Company hereby agree as follows: 

1. General Release of Claims by Employee. 

(a) Employee, on behalf of himself and his executors, heirs, administrators, representatives and assigns, hereby agrees to release and forever
discharge the Company and all predecessors, successors and their respective parent corporations, affiliates, related, and/or subsidiary entities, and all of their past and present investors, directors, shareholders, officers, general or limited
partners, employees, attorneys, agents and representatives, and the employee benefit plans in which Employee is or has been a participant by virtue of his employment with or service to the Company (collectively, the “Company
Releasees”), from any and all claims, debts, demands, accounts, judgments, rights, causes of action, equitable relief, damages, costs, charges, complaints, obligations, promises, agreements, controversies, suits, expenses, compensation,
responsibility and liability of every kind and character whatsoever (including attorneys’ fees and costs), whether in law or equity, known or unknown, asserted or unasserted, suspected or unsuspected (collectively, “Claims”),
which Employee has or may have had against such entities based on any events or circumstances arising or occurring on or prior to the date hereof or on or prior to the date hereof, arising directly or indirectly out of, relating to, or in any other
way involving in any manner whatsoever Employee’s employment by or service to the Company or the termination thereof, including any and all claims arising under federal, state, or local laws relating to employment, including without limitation
claims of wrongful discharge, breach of express or implied contract, fraud, misrepresentation, defamation, or liability in tort, and claims of any kind that may be brought in any court or administrative agency including, without

 
limitation, claims under Title VII of the Civil Rights Act of 1964, as amended, 42 U.S.C. Section 2000, et seq.; the Americans with Disabilities Act, as amended, 42 U.S.C.
§ 12101 et seq.; the Rehabilitation Act of 1973, as amended, 29 U.S.C. § 701 et seq.; the Civil Rights Act of 1866, and the Civil Rights Act of 1991; 42 U.S.C. Section 1981, et
seq.; the Age Discrimination in Employment Act, as amended, 29 U.S.C. Section 621, et seq. (the “ADEA”); the Equal Pay Act, as amended, 29 U.S.C. Section 206(d); regulations of the Office of Federal
Contract Compliance, 41 C.F.R. Section 60, et seq.; the Family and Medical Leave Act, as amended, 29 U.S.C. § 2601 et seq.; the Fair Labor Standards Act of 1938, as amended, 29 U.S.C.
§ 201 et seq.; the Employee Retirement Income Security Act, as amended, 29 U.S.C. § 1001 et seq.; and the California Fair Employment and Housing Act, California Government Code Section 12940,
et seq. 
 Notwithstanding the generality of the foregoing, Employee does not release the following claims: 

(i) Claims for unemployment compensation or any state disability insurance benefits pursuant to the terms of applicable state
law; 
 (ii) Claims for workers’ compensation insurance benefits under the terms of any worker’s compensation
insurance policy or fund of the Company; 
 (iii) Claims pursuant to the terms and conditions of the federal law known as
COBRA; 
 (iv) Claims for indemnity under the bylaws of the Company, as provided for by California law or under any
applicable insurance policy with respect to Employee’s liability as an employee, director or officer of the Company; 

(v) Claims based on any right Employee may have to enforce the Company’s executory obligations under the Agreement; and

 (vi) Claims Employee may have to vested or earned compensation and benefits. 

(b) EMPLOYEE ACKNOWLEDGES THAT HE HAS BEEN ADVISED OF AND IS FAMILIAR WITH THE PROVISIONS OF CALIFORNIA CIVIL CODE SECTION 1542, WHICH
PROVIDES AS FOLLOWS: 
 “A GENERAL RELEASE DOES NOT EXTEND TO CLAIMS WHICH THE CREDITOR DOES NOT KNOW OR SUSPECT TO EXIST IN HIS OR
HER FAVOR AT THE TIME OF EXECUTING THE RELEASE, WHICH, IF KNOWN BY HIM OR HER, MUST HAVE MATERIALLY AFFECTED HIS OR HER SETTLEMENT WITH THE DEBTOR.” 

BEING AWARE OF SAID CODE SECTION, EMPLOYEE HEREBY EXPRESSLY WAIVES ANY RIGHTS HE MAY HAVE THEREUNDER, AS WELL AS UNDER ANY OTHER

  
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STATUTES OR COMMON LAW PRINCIPLES OF SIMILAR EFFECT. 
 [Note: Clauses (c),
(d) and (e) apply only if Employee is age 40 or older at time of termination] 
 (c) Employee acknowledges that this
Release was presented to him on the date indicated above and that Employee is entitled to have twenty-one (21) days’ time in which to consider it. Employee further acknowledges that the Company has advised him that he is waiving his rights
under the ADEA, and that Employee should consult with an attorney of his choice before signing this Release, and Employee has had sufficient time to consider the terms of this Release. Employee represents and acknowledges that if Employee executes
this Release before twenty-one (21) days have elapsed, Employee does so knowingly, voluntarily, and upon the advice and with the approval of Employee’s legal counsel (if any), and that Employee voluntarily waives any remaining
consideration period. 
 (d) Employee understands that after executing this Release, Employee has the right to revoke it within seven
(7) days after his execution of it. Employee understands that this Release will not become effective and enforceable unless the seven (7) day revocation period passes and Employee does not revoke the Release in writing. Employee
understands that this Release may not be revoked after the seven (7) day revocation period has passed. Employee also understands that any revocation of this Release must be made in writing and delivered to the Company at its principal place of
business within the seven (7) day period. 
 (e) Employee understands that this Release shall become effective, irrevocable, and
binding upon Employee on the eighth (8th) day after his execution of it, so long as Employee has not revoked it within the time period and in the manner specified in clause (d) above.

 (f) Employee further understands that Employee will not be given any severance benefits under the Agreement unless this Release is
effective on or before the date that is thirty (30) days following the date of Employee’s termination of employment. 
 2. No
Assignment. Employee represents and warrants to the Company Releasees that there has been no assignment or other transfer of any interest in any Claim that Employee may have against the Company Releasees. Employee agrees to indemnify and hold
harmless the Company Releasees from any liability, claims, demands, damages, costs, expenses and attorneys’ fees incurred as a result of any such assignment or transfer from Employee. 

3. Severability. In the event any provision of this Release is found to be unenforceable by an arbitrator or court of competent
jurisdiction, such provision shall be deemed modified to the extent necessary to allow enforceability of the provision as so limited, it being intended that the parties shall receive the benefit contemplated herein to the fullest extent permitted by
law. If a deemed modification is not satisfactory in the judgment of such arbitrator or court, the unenforceable provision shall be deemed deleted, and the validity and enforceability of the remaining provisions shall not be affected thereby. 

  
 3 

 4. Interpretation; Construction. The headings set forth in this Release are for
convenience only and shall not be used in interpreting this Agreement. This Release has been drafted by legal counsel representing the Company, but Employee has participated in the negotiation of its terms. Furthermore, Employee acknowledges that
Employee has had an opportunity to review and revise the Release and have it reviewed by legal counsel, if desired, and, therefore, the normal rule of construction to the effect that any ambiguities are to be resolved against the drafting party
shall not be employed in the interpretation of this Release. Either party’s failure to enforce any provision of this Release shall not in any way be construed as a waiver of any such provision, or prevent that party thereafter from enforcing
each and every other provision of this Release. 
 5. Governing Law; Venue. This Release shall be governed by and construed in
accordance with the laws of the State of California without regard to the conflicts of laws principles thereof. Employee and the Company agree that any litigation regarding this Release shall be conducted in San Diego, California. Employee and the
Company hereby consent to the jurisdiction of the courts of the State of California and the United States District Court for the Southern District of California. 

6. Entire Agreement. This Release and the Agreement constitute the entire agreement of the Parties in respect of the subject matter
contained herein and therein and supersede all prior or simultaneous representations, discussions, negotiations and agreements, whether written or oral. This Release may be amended or modified only with the written consent of Employee and an
authorized representative of the Company. No oral waiver, amendment or modification will be effective under any circumstances whatsoever. 

7. Counterparts. This Release may be executed in multiple counterparts, each of which shall be deemed to be an original but all of
which together shall constitute one and the same instrument. 
 (Signature Page Follows) 

  
 4 

 IN WITNESS WHEREOF, the Parties have executed this Release as of the date(s) set forth below.

  

									
		 		 		 	AIRGAIN, INC.
					
	Dated:	 	  
	 		 	By:	 	  

					
		 		 		 	Name:	 	  

					
		 		 		 	Title:	 	  

				
		 		 		 	EMPLOYEE
				
	Dated:	 	  
	 		 	  

		 		 		 	GLENN SELBO

  
 5EX-10.18

 Exhibit 10.18 

SECOND AMENDMENT 
 TO

 AMENDED AND RESTATED LOAN AND SECURITY AGREEMENT 

THIS SECOND AMENDMENT to Amended and Restated Loan and Security Agreement (this “Amendment”) is entered into this 16th
day of December, 2015, by and between SILICON VALLEY BANK (“Bank”) and AIRGAIN, INC., a California corporation (“Borrower”). 

RECITALS 

A. Bank and Borrower have entered into that certain Amended and Restated Loan and Security Agreement dated as of May 21, 2012 (as
the same may from time to time be amended, modified, supplemented or restated, including without limitation by that certain First Amendment to Amended and Restated Loan and Security Agreement dated as of December 12, 2013, collectively, the
“Loan Agreement”).  
 B. Bank has extended credit to Borrower for the purposes permitted in the Loan Agreement. 

 C. Borrower has informed Bank that Borrower intends to consummate the SkyCross Asset Purchase (as defined in the Loan
Agreement, as amended by this Amendment). 
 D. Borrower has requested that Bank consent to the SkyCross Asset Purchase and
amend the Loan Agreement as more fully set forth herein. 
 E. Bank has agreed to so consent to the SkyCross Asset Purchase and
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. Consent. Notwithstanding any provision to the contrary in Sections 7.4 or 7.6 of the
Loan Agreement, Bank hereby consents to Borrower’s consummation of the SkyCross Asset Purchase. 
 3. Amendments to Loan
Agreement. 
 3.1 Section 2.1.3 (Term Loan). New Section 2.1.3 hereby is added to the Loan Agreement as follows:

 “2.1.3 Term Loan. 

(a) Availability. Subject to the terms and conditions of this Agreement and provided that the conditions precedent to
the making thereto have been satisfied, Bank shall make a term loan to Borrower on or about the Second Amendment Effective Date, in an amount equal to Four Million Dollars ($4,000,000) (the “Term Loan”). Borrower shall use the
proceeds of the Term Loan to finance the SkyCross Asset Purchase. 
 (b) Repayment. Borrower shall repay the
Term Loan in (i) thirty-six (36) equal installments of principal, plus (ii) monthly payments of accrued interest (the “Term Loan Payment”) commencing on January 1, 2016 and continuing on the first day of each
month thereafter through the Term Loan Maturity Date. Borrower’s final Term Loan Payment, due on the Term Loan Maturity Date, shall include all outstanding principal and accrued and unpaid interest under the Term Loan. Once repaid, the Term
Loan may not be reborrowed. 
 (c) Prepayment. 

(i) Mandatory Prepayment Upon an Acceleration. If the Term Loan is accelerated following the occurrence and during the
continuance of an Event of Default, Borrower shall immediately pay to Bank an amount equal to the sum of (i) all outstanding principal, plus accrued and unpaid interest thereon, (ii) the Final Payment and (iii) all other sums, if any,
that shall have become due and payable hereunder in connection with the Term Loan. 
 (ii) Permitted Prepayment. So
long as no Event of Default has occurred and is continuing, Borrower shall have the option to prepay in whole or in part the Term Loan advanced by Bank under this Agreement, provided Borrower (i) delivers written notice to Bank of its election
to prepay the Term Loan at least thirty (30) days prior to such prepayment, and (ii) pays, on the date of such prepayment (a) all outstanding principal, plus accrued and unpaid interest with respect to the prepaid Term Loan,
(c) the Final 

  
 2 

 
Payment and (c) all other sums, if any, that shall have become due and payable hereunder in connection with the prepaid Term Loan. Any partial prepayment of the Term Loan paid by Borrower
shall be applied to prepay amounts owing under the Term Loan in inverse order of maturity. 
 (d) Interest on the Term
Loan. Subject to Section 2.1.3(e), the principal amount outstanding under the Term Loan shall accrue interest at a fixed per annum rate equal to five percentage points (5.00%), which interest shall be payable monthly. 

(e) Default Rate. Immediately upon the occurrence and during the continuance of an Event of Default, Obligations under
the Term Loan shall bear interest at the Growth Capital Default Rate as defined in and in accordance with Section 2.1.2(f). 

(f) Computation; 360-Day Year. In computing interest for the Term Loan, the Funding Date shall be included and the date
of payment shall be excluded; provided, however, that if any portion of the Term Loan is repaid on the same day on which it is made, such day shall be included in computing interest on such portion of the Term Loan. Interest shall be computed on the
basis of a 360-day year for the actual number of days elapsed. 
 (i) Debit of Accounts. For each Term Loan Payment,
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. 

(j) Interest Payment Date. Unless otherwise provided, interest is payable monthly on the first (1st) calendar day
of each month. 
 (k) Payments; Application of Payments. 

(i) All payments (including prepayments) to be made by Borrower in connection with the Term Loan under any Loan Document shall
be made in immediately available funds in U.S. Dollars, without setoff or counterclaim, before 12:00 p.m. Pacific time on the date when due. Payments of principal and/or interest received after 12:00 p.m. Pacific time are considered received at the
opening of business on the next Business Day. When a payment is due on a day that is not a Business Day, the payment shall be due the next Business Day, and additional fees or interest, as applicable, shall continue to accrue until paid. 

  
 3 

 (ii) Borrower shall have no right to specify the order or the accounts to which
Bank shall allocate or apply any payments required to be made by Borrower to Bank or otherwise received by Bank under this Agreement in connection with the Term Loan when any such allocation or application is not specified elsewhere in this
Agreement.” 
 3.2 Section 2.4.1 (Final Payment). The Final Payment, when due hereunder. 

3.3 Section 6.7 (Liquidity Ratio). Section 6.7 of the Loan Agreement hereby is amended and restated in its entirety to read
as follows: 
 “6.7 Financial Covenants. Effective until all Obligations owing under the Growth Capital
Advances and the Term Loan are repaid in full in cash and Bank no longer has any obligation to make Growth Capital Advances under the Loan Agreement, maintain at all times, measured as of the last day of each month: 

(a) Liquidity Ratio. Borrower shall maintain at all times, measured as of the last day of each month, a Liquidity
Ratio of not less than 1.25 to 1.00. 
 (b) EBITDA. Borrower shall maintain at all times, measured as of
the last day of each fiscal quarter of Borrower, on a trailing six (6) month basis, EBITDA of not less than the following amounts for the respective periods below: 

 

					
	 Measuring Period Ending:
	  	Minimum EBITDA	 
	 December 31, 2015
	  	($	350,000	) 
	 March 31, 2016
	  	($	350,000	) 
	 June 30, 2016
	  	$	1.00	  
	 September 30, 2016
	  	$	250,000	  
	 December 31, 2016
	  	$	500,000	  
	 March 31, 2017 and thereafter
	  	$	750,000	” 

 3.4 Section 13 (Definitions). The following terms and their respective definitions set forth in
Section 13.1 of the Loan Agreement hereby are added, or amended and restated, as follows: 

  
 4 

 “Account Advance Maturity Date” is April 3, 2018.

 “Credit Extension” is any Advance, any Growth Capital Advance, Term Loan or any other
extension of credit by Bank for Borrower’s benefit under this Agreement. 
 “EBITDA”
shall mean (a) Net Income, plus (b) Interest Expense, plus (c) to the extent deducted in the calculation of Net Income, depreciation expense and amortization expense, plus (d) income tax expense, plus (e) fair market value
adjustments for warrants. 
 “Final Payment” is a payment (in addition to and not a
substitution for the regular monthly payments of principal plus accrued interest) due on the earlier of (a) the Term Loan Maturity Date or (b) the acceleration of the Term Loan, equal to the Term Loan multiplied by the Final Payment
Percentage. 
 “Final Payment Percentage” is one and one half of one percent (1.50%).

 “Interest Expense” means for any fiscal period, interest expense (whether cash or non-cash)
determined in accordance with GAAP for the relevant period ending on such date, including, in any event, interest expense with respect to any Credit Extension and other Indebtedness of Borrower and its Subsidiaries, including, without limitation or
duplication, all commissions, discounts, or related amortization and other fees and charges with respect to letters of credit and bankers’ acceptance financing and the net costs associated with interest rate swap, cap, and similar arrangements,
and the interest portion of any deferred payment obligation (including leases of all types). 
 “Net
Income” means, as calculated on a consolidated basis for Borrower and its Subsidiaries for any period as at any date of determination, the net profit (or loss), after provision for taxes, of Borrower and its Subsidiaries for such period
taken as a single accounting period. 
 “Second Amendment Effective Date” is December 16,
2015. 
 “SkyCross Asset Purchase” means the assignment to Borrower of certain customer
contracts and related assets from SkyCross, Inc. for an aggregate purchase price of approximately Five Million Dollars ($5,000,000) (inclusive of an upfront payment of approximately Four Million Dollars ($4,000,000) and a deferred payment of One
Million Dollars ($1,000,000)  

  
 5 

 
following the expiration or termination of the transition services agreement relating thereto. 

“Streamline Period” means any period of time where Borrower maintained a Liquidity Ratio greater than
or equal to 1.50 to 1.00 at all times during the prior three (3) Reconciliation Periods; provided that any Streamline Period shall immediately terminate upon the occurrence of an Event of Default and no new Streamline Period shall begin until
Borrower has maintained a Liquidity Ratio of at least 1.50 to 1.00 at all times for three (3) consecutive Reconciliation Periods thereafter. 

“Term Loan” is defined in Section 2.1.3(a) of this Agreement. 

“Term Loan Maturity Date” is December 1, 2018. 

“Term Loan Payment” is defined in Section 2.1.3(b) of this Agreement. 

2.7 Exhibit B to the Loan Agreement hereby is replaced with Exhibit B attached hereto. 

4. Limitation of Amendments. 

4.1 The amendments set forth in Section 3, 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. 
 4.2 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. 
 5. Representations and Warranties. To induce Bank to enter into this Amendment, Borrower hereby represents and
warrants to Bank as follows: 
 5.1 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; 

  
 6 

 5.2 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; 
 5.3 The organizational documents of
Borrower delivered to Bank on the Effective Date remain true, accurate and complete and have not been amended, supplemented or restated and are and continue to be in full force and effect; 

5.4 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; 
 5.5 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; 

5.6 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 either Borrower, except as already has been obtained or made; and 
 5.7 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, 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. 
 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 upon (a) the due execution and delivery to Bank of this Amendment by
each party hereto, (b) updated Borrowing Resolutions for Borrower and (c) payment of all Bank Expenses incurred through the date of this Amendment, which may be debited from any of Borrower’s accounts at Bank. 

[Balance of Page Intentionally Left Blank] 

  
 7 

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

									
	 BANK
  

SILICON VALLEY BANK
	 		 	 BORROWER
  

AIRGAIN, INC.

					
	By:	 		 		 	By:	 	
	Name:	 	 /s/ Kadie Sobel
	 		 	Name:	 	 /s/ Charles Myers

	Title:	 	VP	 		 	Title:	 	CEO

 [Signature Page to Second Amendment to Amended and Restated 

Loan and Security Agreement] 

 EXHIBIT B 
  

 
 SPECIALTY FINANCE DIVISION 

Compliance Certificate 
 I,
an authorized officer of AIRGAIN, INC. (“Borrower”) certify under the Amended and Restated Loan and Security Agreement (as amended, the “Agreement”) between Borrower and Silicon Valley Bank (“Bank”)
as follows for the period ending                      (all capitalized terms used herein shall have the meaning set forth in this Agreement): 

Borrower represents and warrants for each Financed Receivable: 

Each Financed Receivable is an Eligible Account; 

Borrower is the owner with legal right to sell, transfer, assign and encumber such Financed Receivable; 

The correct amount is on the Invoice Transmittal and is not disputed; 

Payment is not contingent on any obligation or contract and Borrower has fulfilled all its obligations as of the Invoice Transmittal date;

 Each Financed Receivable is based on an actual sale and delivery of goods and/or services rendered, is due to Borrower, is not past due
or in default, has not been previously sold, assigned, transferred, or pledged and is free of any liens, security interests and encumbrances other than Permitted Liens; 

There are no defenses, offsets, counterclaims or agreements for which the Account Debtor may claim any deduction or discount; 

Borrower reasonably believes no Account Debtor is insolvent or subject to any Insolvency Proceedings; 

Borrower has not filed or had filed against it Insolvency Proceedings and does not anticipate any filing; 

Bank has the right to endorse and/ or require Borrower to endorse all payments received on Financed Receivables and all proceeds of
Collateral. 
 No representation, warranty or other statement of Borrower in any certificate or written statement given to Bank, when taken
as a whole, contains any untrue statement of a material fact or omits to state a material fact necessary to make the statement contained in the certificates or statement not misleading. 

  
 1 

 Additionally, Borrower represents and warrants as follows: 

Borrower and each Subsidiary is duly existing and in good standing in its state of formation and qualified and licensed to do business in, and
in good standing in, any state in which the conduct of its business or its ownership of property requires that it be qualified except where the failure to do so could not reasonably be expected to cause a Material Adverse Change. The execution,
delivery and performance of the Loan Documents have been duly authorized, and do not conflict with Borrower’s organizational documents, nor constitute an event of default under any material agreement by which Borrower is bound. Borrower is not
in default under any agreement to which or by which it is bound in which the default could reasonably be expected to cause a Material Adverse Change. 

Borrower has good title to the Collateral, free of Liens except Permitted Liens. All inventory is in all material respects of good and
marketable quality, free from material defects. 
 Borrower is not an “investment company” or a company “controlled” by
an “investment company” under the Investment Company Act of 1940, as amended. Borrower is not engaged as one of its important activities in extending credit for margin stock (under Regulations X, T and U of the Federal Reserve Board of
Governors). Borrower has complied in all material respects with the Federal Fair Labor Standards Act. Borrower has not violated any laws, ordinances or rules, the violation of which could reasonably be expected to cause a Material Adverse Change.
None of Borrower’s or any Subsidiary’s properties or assets has been used by Borrower or any Subsidiary or, to the best of Borrower’s knowledge, by previous Persons, in disposing, producing, storing, treating, or transporting any
hazardous substance other than legally. Borrower and each Subsidiary has timely filed all required tax returns and paid, or made adequate provision to pay, all material taxes, except those being contested in good faith with adequate reserves under
GAAP. Borrower and each Subsidiary has obtained all consents, approvals and authorizations of, made all declarations or filings with, and given all notices to, all government authorities that are necessary to continue its business as currently
conducted except where the failure to obtain or make such consents, declarations, notices or filings would not reasonably be expected to cause a Material Adverse Change. 

Borrower is in compliance with the Financial Covenant(s) set forth in Section 6.7 of this Agreement. Attached are the required documents
supporting the certification. The undersigned certifies that these are prepared in accordance with GAAP consistently applied from one period to the next except 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. 

  
 2 

 Streamline Availability 

 

							
	 	  	Required	  	Actual	  	Compliance
	Liquidity Ratio	  	1.50 :1.00	  	___ : 1.00	  	Yes    No    

 Financial Covenant 
  

							
	 	  	Required	  	Actual	  	Compliance
	Liquidity Ratio*	  	1.25 :1.00	  	___ : 1.00	  	Yes    No    
	EBITDA	  	**	  	$_______	  	Yes    No    

  

	*	Effective until all Obligations owing under the Growth Capital Advances and the Term Loan are repaid in full in cash and Bank no longer has any obligation to make Growth Capital Advances under the Loan Agreement

	**	measured as of the end of each fiscal quarter, on a trailing 6-month basis: 

  

					
	 Measuring Period Ending:
	  	Minimum EBITDA	 
	 December 31, 2015
	  	($	350,000	) 
	 March 31, 2016
	  	($	350,000	) 
	 June 30, 2016
	  	$	1.00	  
	 September 30, 2016
	  	$	250,000	  
	 December 31, 2016
	  	$	500,000	  
	 March 31, 2017 and thereafter
	  	$	750,000	  

 All other representations and warranties in this Agreement are true and correct in all material respects on this date,
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 

  
 3 

 
a specific date shall be true, accurate and complete in all material respects as of such date, and no Event of Default shall have occurred and be continuing or result from the Credit Extension.

  

	
	Sincerely,
	
	AIRGAIN, INC.
	
	  
 Signature

	
	  
 Title

	
	  
 Date

  
 4 

 BORROWING RESOLUTIONS 

 

							
		  	

	  	Silicon Valley Bank            	  	

 CORPORATE BORROWING CERTIFICATE 

 

			
	BORROWER: AIRGAIN, INC.	  	DATE: December 16, 2015        

 BANK: Silicon Valley Bank 

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

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

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

3. Attached hereto are true, correct and complete copies of Borrower’s Articles/Certificate of Incorporation (including amendments), as filed with the
Secretary of State of the state in which Borrower is incorporated as set forth in paragraph 1 above. Such Articles/Certificate of Incorporation have not been amended, annulled, rescinded, revoked or supplemented, and remain in full force and effect
as of the date hereof. 
 4. The following resolutions were duly and validly adopted by Borrower’s Board of Directors at a duly held meeting of such
directors (or pursuant to a unanimous written consent or other authorized corporate action). Such resolutions are in full force and effect as of the date hereof and have not been in any way modified, repealed, rescinded, amended or revoked, and Bank
may rely on them until Bank receives written notice of revocation from Borrower. 
 RESOLVED, that
any one of the following officers or employees of Borrower, whose names, titles and signatures are below, may act on behalf of Borrower: 
  

							
	 Name
	  	 Title
	  	 Signature
	  	 Authorized to
Add
or
Remove
Signatories

				
	  
	  	  
	  	  
	  	 ̈
				
	  
	  	  
	  	  
	  	 ̈
				
	  
	  	  
	  	  
	  	 ̈
				
	  
	  	  
	  	  
	  	 ̈

  
 5 

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

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

Borrow Money. Borrow money from Silicon Valley Bank (“Bank”). 

Execute Loan Documents. Execute any loan documents Bank requires. 

Grant Security. Grant Bank a security interest in any of Borrower’s assets. 

Negotiate Items. Negotiate or discount all drafts, trade acceptances, promissory notes, or other indebtedness in which Borrower has an
interest and receive cash or otherwise use the proceeds. 
 Letters of Credit. Apply for letters of credit from Bank. 

Foreign Exchange Contracts. Execute spot or forward foreign exchange contracts. 

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

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

 

			
	By:	 	  

	Name:	 	  

	Title:	 	  

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

I, the                      of
Borrower, hereby certify as to paragraphs 1 through 5 above, as 
 [print title] 

of the date set forth above. 
  

			
	By:	 	  

	Name:	 	  

	Title:	 	  

  
 6

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