Document:

First Loan Modification Agreement

 Exhibit 10.2 

FIRST LOAN MODIFICATION AGREEMENT 

This First Loan Modification Agreement (this “Loan Modification Agreement”) is entered into as of July 1, 2010, by and among
(a) SILICON VALLEY BANK, a California corporation with a loan production office located at 2400 Hanover Street, Palo Alto, CA 94304 (“SVB”), as agent (the “Agent”) and a Lender and GOLD HILL VENTURE LENDING 03,
L.P. (“Gold Hill”) as a Lender, and (b) MERU NETWORKS, INC., a Delaware corporation with its chief executive office located at 894 Ross Drive, Sunnyvale, California 94089 (“Borrower”). 

1. DESCRIPTION OF EXISTING INDEBTEDNESS AND OBLIGATIONS. Among other indebtedness and obligations which may be owing by Borrower to Lenders,
Borrower is indebted to Lenders pursuant to a loan arrangement dated as of November 30, 2007, evidenced by, among other documents, a certain Term Loan and Security Agreement dated as of November 30, 2007, between Borrower and Lenders (as
amended, the “Loan Agreement”). Capitalized terms used but not otherwise defined herein shall have the same meaning as in the Loan Agreement. 

2. DESCRIPTION OF COLLATERAL. Repayment of the Obligations is secured by the Collateral as described in the Loan Agreement and that certain
Intellectual Property Security Agreement dated as of January 29, 2007, between Borrower and SVB (the “IP Security Agreement” and together with the Loan Agreement and any other collateral security granted to Lenders, the “Security
Documents”). Hereinafter, the Security Documents, together with all other documents evidencing or securing the Obligations, shall be referred to as the “Existing Loan Documents”. 

3. DESCRIPTION OF CHANGE IN TERMS. 
  

	 	A.	Modifications to Loan Agreement. 

  

	 	1.	The Loan Agreement shall be amended by deleting the definitions of “Final Payment” and “Final Payment Percentage” appearing in Section 13.1
thereof and replacing them with the following definitions: 

“         “Final Payment” is, with respect to each Term Loan, 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 for such Term Loan, or (b) the prepayment of such Term Loan, equal to the amount
of such Term Loan multiplied by the Final Payment Percentage.” 
 “        
“Final Payment Percentage” is, for each Term Loan, (a) if such Term Loan is not repaid prior to the Term Loan Maturity Date, one and one sixth of one percent (1.1667%), and (b) if such Term Loan is repaid prior to the Term
Loan Maturity Date, two percent (2.0%).” 
 4. FEES. Borrower shall reimburse Lenders for all legal fees and expenses incurred in
connection with this amendment to the Existing Loan Documents. 
 5. RATIFICATION OF INTELLECTUAL PROPERTY SECURITY AGREEMENT. Borrower
hereby ratifies, confirms and reaffirms, all and singular, the terms and conditions of the IP Security Agreement and acknowledges, confirms and agrees that said IP Security Agreement contains an accurate and complete listing of all Intellectual
Property Collateral as defined in said IP Security Agreement, which shall remain in full force and effect. 
 6. RATIFICATION OF
REPRESENTATIONS AND WARRANTIES. Borrower hereby ratifies, confirms and reaffirms, all and singular, the terms and disclosures contained in a certain Representations and Warranties dated as of January 9, 2007, between Borrower and SVB (the
“Representations and Warranties”), and acknowledges, confirms and agrees the disclosures and information Borrower provided to SVB in the 

 
Representations and Warranties have not changed, as of the date hereof, except that (a) Borrower has an additional subsidiary, Meru Networks International, Inc., a Delaware corporation, and
(b) Borrower’s chief executive address is 894 Ross Drive, Sunnyvale, California 94089. 
 7. AUTHORIZATION TO FILE. Borrower
hereby authorizes Agent to file UCC financing statements without notice to Borrower, with all appropriate jurisdictions, as Agent deems appropriate, in order to further perfect or protect Lenders’ interest in the Collateral, including a notice
that any disposition of the Collateral, by either Borrower or any other Person, shall be deemed to violate the rights of Lenders under the Code. 

8. CONSISTENT CHANGES. The Existing Loan Documents are hereby amended wherever necessary to reflect the changes described above. 

9. RATIFICATION OF LOAN DOCUMENTS. Borrower hereby ratifies, confirms, and reaffirms all terms and conditions of all security or other collateral
granted to Lenders and confirms that the indebtedness secured thereby includes, without limitation, the Obligations. 
 10. NO DEFENSES OF
BORROWER. Borrower hereby acknowledges and agrees that Borrower has no offsets, defenses, claims, or counterclaims against Lenders with respect to the Obligations, or otherwise, and that if Borrower now has, or ever did have, any offsets,
defenses, claims, or counterclaims against Lenders, whether known or unknown, at law or in equity, all of them are hereby expressly WAIVED and Borrower hereby RELEASES Lenders from any liability thereunder. 

11. CONTINUING VALIDITY. Borrower understands and agrees that in modifying the existing Obligations, Lenders are relying upon Borrower’s
representations, warranties, and agreements, as set forth in the Existing Loan Documents. Except as expressly modified pursuant to this Loan Modification Agreement, the terms of the Existing Loan Documents remain unchanged and in full force and
effect. Lenders’ agreement to modifications to the existing Obligations pursuant to this Loan Modification Agreement in no way shall obligate Lenders to make any future modifications to the Obligations. Nothing in this Loan Modification
Agreement shall constitute a satisfaction of the Obligations. It is the intention of Lenders and Borrower to retain as liable parties all makers of Existing Loan Documents, unless the party is expressly released by Lenders in writing. No maker will
be released by virtue of this Loan Modification Agreement. 
 12. RIGHT OF SET-OFF. In consideration of Lenders’ agreement to enter
into this Loan Modification Agreement, Borrower hereby reaffirms and hereby grants to Lenders, a lien, security interest and right of set off as security for all Obligations to Lenders, whether now existing or hereafter arising upon and against all
deposits, credits, collateral and property, now or hereafter in the possession, custody, safekeeping or control of Lenders or any entity under the control of Lenders (including a Lender subsidiary) or in transit to any of them. At any time after the
occurrence and during the continuance of an Event of Default, without demand or notice, Lenders may set off the same or any part thereof and apply the same to any liability or obligation of Borrower even though unmatured and regardless of the
adequacy of any other collateral securing the loan. ANY AND ALL RIGHTS TO REQUIRE LENDERS TO EXERCISE ITS RIGHTS OR REMEDIES WITH RESPECT TO ANY OTHER COLLATERAL WHICH SECURES THE OBLIGATIONS, PRIOR TO EXERCISING ITS RIGHT OF SETOFF WITH RESPECT TO
SUCH DEPOSITS, CREDITS OR OTHER PROPERTY OF BORROWER, ARE HEREBY KNOWINGLY, VOLUNTARILY AND IRREVOCABLY WAIVED. 
 13.
JURISDICTION/VENUE. Borrower accepts for itself and in connection with its properties, unconditionally, the exclusive jurisdiction of any state or federal court of competent jurisdiction in the State of California in any action, suit, or
proceeding of any kind against it which arises out of or by reason of this Loan Modification Agreement. NOTWITHSTANDING THE FOREGOING, LENDERS SHALL HAVE THE RIGHT TO BRING ANY ACTION OR PROCEEDING AGAINST BORROWER OR ITS PROPERTY IN THE COURTS OF
ANY OTHER JURISDICTION WHICH LENDERS DEEMS NECESSARY OR APPROPRIATE IN ORDER TO REALIZE ON THE COLLATERAL OR TO OTHERWISE ENFORCE LENDERS’ RIGHTS AGAINST BORROWER OR ITS PROPERTY. 

14. CONFIDENTIALITY. Lenders may use confidential information for the development of databases, reporting purposes, and market analysis, so long
as such confidential information is aggregated and anonymized 

 
prior to distribution unless otherwise expressly permitted by Borrower. The provisions of the immediately preceding sentence shall survive the termination of the Loan Agreement. 

15. COUNTERSIGNATURE. This Loan Modification Agreement shall become effective only when it shall have been executed by Borrower and Lenders.

 [The remainder of this page is intentionally left blank] 

 This Loan Modification Agreement is executed under the laws of the State of California as of
the date first written above. 
  

			
	BORROWER:
	
	MERU NETWORKS, INC.
		
	By	 	 /s/ Brett White

	Name:	 	 Brett White

	Title:	 	 CFO

	
	LENDERS:
	
	SILICON VALLEY BANK, as Agent and as Lender
		
	By	 	 /s/ Nick Tsiagkas

	Name:	 	 Nick Tsiagkas

	Title:	 	 Relationship Manager

	
	GOLD HILL VENTURE LENDING 03, L.P., as Lender
	
	By: GOLD HILL VENTURE LENDING
	PARTNERS 03, LLC, its General Partner
		
	By	 	 /s/ Rob Helm

	Name:	 	 Rob Helm

	Title:	 	 Managing Director

		 	 Gold Hill CapitalSeventh Loan Modification Agreement - Silicon Valley Bank

 Exhibit 10.3 

SEVENTH LOAN MODIFICATION AGREEMENT 

This Seventh Loan Modification Agreement (this “Loan Modification Agreement”) is entered into as of June 29, 2010, by and
between SILICON VALLEY BANK, a California corporation with a loan production office located at 2400 Hanover Street, Palo Alto, CA 94304 (“Bank”) and MERU NETWORKS, INC., a Delaware corporation with its chief executive office
located at 894 Ross Drive, Sunnyvale, California 94089 (“Borrower”). 
 1. DESCRIPTION OF EXISTING INDEBTEDNESS AND
OBLIGATIONS. Among other indebtedness and obligations which may be owing by Borrower to Bank, Borrower is indebted to Bank pursuant to a loan arrangement dated as of January 29, 2007, evidenced by, among other documents, a certain Loan and
Security Agreement dated as of January 29, 2007, between Borrower and Bank, as amended by a certain First Loan Modification Agreement dated as of November 30, 2007, between Borrower and Bank, as further amended by a certain Second Loan
Modification Agreement dated as of July 30, 2008, between Borrower and Bank, as further amended by a certain Third Loan Modification Agreement dated as of November 30, 2008, between Borrower and Bank, as further amended by a certain Fourth
Loan Modification Agreement dated as of February 26, 2009, between Borrower and Bank, as further amended by a certain Fifth Loan Modification Agreement dated as of April 27, 2009, between Borrower and Bank, and as further amended by a
certain Sixth Loan Modification Agreement dated as of March 22, 2010, between Borrower and Bank (as amended, the “Loan Agreement”). Capitalized terms used but not otherwise defined herein shall have the same meaning as in the Loan
Agreement. 
 2. DESCRIPTION OF COLLATERAL. Repayment of the Obligations is secured by the Collateral as described in the Loan Agreement
and that certain Intellectual Property Security Agreement dated as of January 29, 2007, between Borrower and Bank (the “IP Security Agreement” and together with the Loan Agreement and any other collateral security granted to Bank, the
“Security Documents”). Hereinafter, the Security Documents, together with all other documents evidencing or securing the Obligations, shall be referred to as the “Existing Loan Documents”. 

3. DESCRIPTION OF CHANGE IN TERMS. 
  

	 	A.	Modifications to Loan Agreement. 

  

	 	1.	The Loan Agreement shall be amended by deleting Section 2.3(a)(i) thereof (entitled “Advances”) in its entirety and replacing such Section 2.3(a)(i)
with the following: 

 “        (i) Advances. Subject to
Section 2.3(b), on and after June 29, 2010 [the date of this Loan Modification Agreement], the amounts outstanding under the Revolving Line shall accrue interest at a per annum rate equal to the WSJ Prime Rate in effect from time to
time.” 
  

	 	2.	The Loan Agreement shall be amended by inserting the following new definition to appear alphabetically in Section 13.1 thereof: 

“         “WSJ Prime Rate” means, with respect to any day, the “Prime
Rate” as quoted in the Wall Street Journal print edition on such day (or, if such day is not a day on which the Wall Street Journal is published, the immediately preceding day on which the Wall Street Journal was
published).” 
  

	 	3.	The Loan Agreement shall be amended by deleting the definition of “Revolving Line Maturity Date” appearing in Section 13.1 thereof and replacing it with
the following definition: 

 “         “Revolving Line
Maturity Date” is the earliest of (a) August 31, 2010, or (b) the occurrence of an Event of Default.” 

 4. FEES. Borrower shall pay to Bank a modification fee equal to One Thousand Two Hundred Dollars
($1,200.00), which fee shall be due on the date hereof and shall be deemed fully earned as of the date hereof. Borrower shall also reimburse Bank for all legal fees and expenses incurred in connection with this amendment to the Existing Loan
Documents. 
 5. RATIFICATION OF INTELLECTUAL PROPERTY SECURITY AGREEMENT. Borrower hereby ratifies, confirms and reaffirms, all and
singular, the terms and conditions of the IP Security Agreement and acknowledges, confirms and agrees that said IP Security Agreement contains an accurate and complete listing of all Intellectual Property Collateral as defined in said IP Security
Agreement, which shall remain in full force and effect. 
 6. RATIFICATION OF REPRESENTATIONS AND WARRANTIES. Borrower hereby ratifies,
confirms and reaffirms, all and singular, the terms and disclosures contained in a certain Representations and Warranties dated as of January 9, 2007, between Borrower and Bank (the “Representations and Warranties”), and acknowledges,
confirms and agrees the disclosures and information Borrower provided to Bank in the Representations and Warranties have not changed, as of the date hereof, except that (a) Borrower has an additional subsidiary, Meru Networks International,
Inc., a Delaware corporation, and (b) Borrower’s chief executive address is 894 Ross Drive, Sunnyvale, California 94089. 
 7.
AUTHORIZATION TO FILE. Borrower hereby authorizes Bank to file UCC financing statements without notice to Borrower, with all appropriate jurisdictions, as Bank deems appropriate, in order to further perfect or protect Bank’s interest in
the Collateral, including a notice that any disposition of the Collateral, by either Borrower or any other Person, shall be deemed to violate the rights of Bank under the Code. 

8. CONSISTENT CHANGES. The Existing Loan Documents are hereby amended wherever necessary to reflect the changes described above. 

9. RATIFICATION OF LOAN DOCUMENTS. Borrower hereby ratifies, confirms, and reaffirms all terms and conditions of all security or other collateral
granted to Bank and confirms that the indebtedness secured thereby includes, without limitation, the Obligations. 
 10. NO DEFENSES OF
BORROWER. Borrower hereby acknowledges and agrees that Borrower has no offsets, defenses, claims, or counterclaims against Bank with respect to the Obligations, or otherwise, and that if Borrower now has, or ever did have, any offsets, defenses,
claims, or counterclaims against Bank, whether known or unknown, at law or in equity, all of them are hereby expressly WAIVED and Borrower hereby RELEASES Bank from any liability thereunder. 

11. CONTINUING VALIDITY. Borrower understands and agrees that in modifying the existing Obligations, Bank is relying upon Borrower’s
representations, warranties, and agreements, as set forth in the Existing Loan Documents. Except as expressly modified pursuant to this Loan Modification Agreement, the terms of the Existing Loan Documents remain unchanged and in full force and
effect. Bank’s agreement to modifications to the existing Obligations pursuant to this Loan Modification Agreement in no way shall obligate Bank to make any future modifications to the Obligations. Nothing in this Loan Modification Agreement
shall constitute a satisfaction of the Obligations. It is the intention of Bank and Borrower to retain as liable parties all makers of Existing Loan Documents, unless the party is expressly released by Bank in writing. No maker will be released by
virtue of this Loan Modification Agreement. 
 12. RIGHT OF SET-OFF. In consideration of Bank’s agreement to enter into this Loan
Modification Agreement, Borrower hereby reaffirms and hereby grants to Bank, a lien, security interest and right of set off as security for all Obligations to Bank, whether now existing or hereafter arising upon and against all deposits, credits,
collateral and property, now or hereafter in the possession, custody, safekeeping or control of Bank or any entity under the control of Bank (including a Bank subsidiary) or in transit to any of them. At any time after the occurrence and during the
continuance of an Event of Default, without demand or notice, Bank may set off the same or any part thereof and apply the same to any liability or obligation of Borrower even though unmatured and regardless of the adequacy of any other collateral
securing the loan. ANY AND ALL RIGHTS TO REQUIRE BANK TO EXERCISE ITS RIGHTS OR REMEDIES WITH RESPECT TO ANY OTHER COLLATERAL WHICH SECURES THE OBLIGATIONS, PRIOR TO EXERCISING ITS RIGHT OF SETOFF WITH RESPECT

 
TO SUCH DEPOSITS, CREDITS OR OTHER PROPERTY OF BORROWER, ARE HEREBY KNOWINGLY, VOLUNTARILY AND IRREVOCABLY WAIVED. 

13. JURISDICTION/VENUE. Borrower accepts for itself and in connection with its properties, unconditionally, the exclusive jurisdiction of any
state or federal court of competent jurisdiction in the State of California in any action, suit, or proceeding of any kind against it which arises out of or by reason of this Loan Modification Agreement. NOTWITHSTANDING THE FOREGOING, BANK SHALL
HAVE THE RIGHT TO BRING ANY ACTION OR PROCEEDING AGAINST BORROWER OR ITS PROPERTY IN THE COURTS OF ANY OTHER JURISDICTION WHICH BANK DEEMS NECESSARY OR APPROPRIATE IN ORDER TO REALIZE ON THE COLLATERAL OR TO OTHERWISE ENFORCE BANK’S RIGHTS
AGAINST BORROWER OR ITS PROPERTY. 
 14. CONFIDENTIALITY. Bank may use confidential information for the development of databases,
reporting purposes, and market analysis, so long as such confidential information is aggregated and anonymized prior to distribution unless otherwise expressly permitted by Borrower. The provisions of the immediately preceding sentence shall survive
the termination of the Loan Agreement. 
 15. COUNTERSIGNATURE. This Loan Modification Agreement shall become effective only when it
shall have been executed by Borrower and Bank. 
 [The remainder of this page is intentionally left blank] 

 This Loan Modification Agreement is executed under the laws of the State of California as of
the date first written above. 
  

									
	BORROWER:	 		  	BANK:
			
	MERU NETWORKS, INC.	 		  	SILICON VALLEY BANK
					
	By:	 	 /s/ Brett White
	 		  	By:	  	 /s/ Nick Tsiagkas

					
	Name:	 	 Brett White
	 		  	Name:	  	 Nick Tsiagkas

					
	Title:	 	 CFO
	 		  	Title:	  	 Relationship Manager

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