Document:

EX-10.25

 Exhibit 10.25 
 COMMERCIAL LEASE AGREEMENT 
 STATE OF TEXAS 

COUNTY OF DALLAS 
 THIS LEASE AGREEMENT, made and entered into as of the 20th day of July, 2012, by and between Landlord and Tenant hereinafter named. 

1) DEFINITIONS AND BASIC PROVISIONS. The following definitions and basic provisions shall be used in conjunction with and
limited by the reference thereto in the provisions of this Lease. 
 (a) “Landlord” Telecom Commerce III, Ltd.

 (b) “Tenant” Mavenir Systems, Inc. 
 (c) “Initial Premises” approximately 30,500 square feet within the building or project known as International Business Center II and located on a certain tract of land known as
1700 International Parkway, Suite 200, City of Richardson, Collin County, Texas. A fuller description of the Initial Premises, including a floor plan thereof, is contained in Exhibit A attached hereto. 

(d) “Expansion Premises” is approximately 13,250 square feet within the building or project known as International Business
Center II and located on a certain tract of land known as 1700 International Parkway, Suite 200, City of Richardson, Collin County, Texas. The Expansion Premises is contiguous and located next to the Initial Premises. A fuller description of the
Expansion Premises, including a floor plan thereof, is contained in Exhibit A attached hereto. Tenant agrees to Lease the Expansion Premises by no later than April 1, 2014; provided, however, that Tenant may Lease such space sooner by providing
Landlord with notice of its intent. Prior to Tenant’s expected move-in date to the Expansion Premises, Landlord shall provide Tenant with a tenant improvements allowance of no less than one hundred thousand dollars ($100,000.00) for the
Expansion Premises, such allowance being in addition to the improvements, allowances or the like that Landlord is providing for the Initial Premises as described in this Lease. Following completion of the improvements, such being the Commencement
Date for the addition of the Expansion Premises. Beginning on such Commencement Date, Tenant shall pay Rent for both the Initial Premises and the Expansion Premises in accordance with the terms of this Lease. 

(e) “Premises” shall refer to the Initial Premises prior to Tenant expanding to use the Expansion Premises in accordance with
the terms of this Lease Agreement. Beginning on the date that Tenant moves into and begins to use the Expansion Premises, Premises shall be deemed to refer to both the Initial Premises and the Expansion Premises as one. In the event that Tenant
leases the ROFR Space in the Building in accordance with Exhibit F, the definition of Premises shall be extended to include such ROFR Space upon the date Tenant begins to occupy such (following completion of any premises improvements related to
such). 
 (f) “Project” shall refer to the land (which is described in the attached Exhibit A), together with the
building(s), landscaping, parking and driveway areas, sidewalks, and other improvements thereon including the Initial Premises, Premises and any other such inhabitable spaces located at 1700 International Parkway, Richardson, Collin County, Texas.

 (g) “Lease Term” is the period commencing on October 1 , 2012 or on such later date as may be
determined pursuant to the provisions of Paragraph 2 herein (the “Commencement Date”) and ending the last day of the month following the expiration of Seventy Eight (78) months from the Commencement Date, unless sooner
terminated as herein provided (the “Expiration Date”) . 
 (h) “Maximum Rate” is the maximum
non-usurious rate of interest permitted by applicable law, including, without limitation, Article 5069-1.04, Vernon Texas Civil Statutes, as the same may be incorporated by reference in other Texas statutes, and, unless otherwise required by law,
said rate shall be based upon the “indicated rate ceiling”. 
 2) LEASE GRANT. Landlord, in
consideration of the rent to be paid and the other covenants and agreements to be performed by Tenant and upon the terms and conditions herein stated, does hereby lease and let unto Tenant the Premises, in their “as is” condition on the
date hereof, unless Landlord is required by the terms of this Lease to perform any work to prepare the Premises for Tenant’s occupancy, commencing on the Commencement Date (as may be adjusted as hereinafter provided) and ending on the
Expiration Date, unless sooner terminated as herein provided. If this Lease is executed before the Premises become vacant, or otherwise available and ready for occupancy, or if any present tenant or occupant of the Premises holds over, and Landlord
cannot acquire possession of the Premises prior to the Commencement Date of this Lease or cannot tender possession to Tenant for any reason, except as shall result from any act or omission of Tenant or its agents or employees (in which event the
Commencement Date will not be changed and Rental will not be waived), Landlord shall not be deemed to be in default hereunder, and Tenant agrees to accept possession of the Premises at such time as Landlord is able to tender the same in accordance
with the terms of this Lease Agreement, such date shall be deemed to be the Commencement Date, this Lease shall continue for the term specified in Paragraph 1 (d) hereof, and Landlord hereby waives the Monthly Rental Payments or portion(s)
thereof for such period prior to the tendering of possession of the Premises to Tenant. Should Tenant occupy the Premises prior to the Commencement Date specified in Paragraph 1 (d), the Commencement Date shall be altered to coincide with said
occupancy, however, the Expiration Date shall remain unchanged. The taking of possession, or the occupying or assuming control over the Premises by Tenant shall be conclusive evidence (i) that the Premises are suitable for the purpose herein
intended and that the Premises comply fully with Landlord’s covenants and obligations related thereto, except for “punchlist” items, if any, of which Tenant shall give Landlord written notice within twenty (20) days following
such possession, occupancy or assumption of control; and (ii) that Tenant accepts the Building and the Land and each and every part and appurtenance thereof as being in a good and satisfactory condition, and acknowledges that same comply fully
with Landlord’s covenants and obligations. Notwithstanding the foregoing, Landlord and Tenant agree that Tenant may use the Expansion Premises between October 1, 2012 and March 31, 2014 (“Interim Use”) and such Interim Use
shall not be deemed as the Commencement Date for Tenant’s use of the Expansion Premises nor shall such use be conclusive evidence (i) that the Expansion Premises are suitable for the purpose herein intended and that the Expansion Premises
comply fully with Landlord’s covenants and obligations related thereto, except for “punchlist” items, if any, of which Tenant shall give Landlord written notice within twenty (20) days following such possession, occupancy or
assumption of control; and (ii) that Tenant accepts the Expansion Premises and each and every part and appurtenance thereof as being in a good and satisfactory condition, and acknowledges that same comply fully with Landlord’s covenants
and obligations. Tenant agrees to pay all utilities related to the Expansion Premises (on a prorated basis) that are directly attributable to Tenant’s Interim Use as well as all Additional Rent (on a prorated Basis) in accordance with this
Lease. Tenant shall not be required to pay Basic Monthly Rental during such Interim Use period unless otherwise agreed to herein. 
 3) BASIC MONTHLY RENTAL AND SECURITY DEPOSIT. 
 (a) In consideration
of this Lease, Tenant promises and agrees to pay Landlord the Basic Monthly Rental *See Below without any abatement, deduction or set off for any reason whatsoever, except as may be expressly provided in this Lease, for each and every

  

	*	Basic Monthly Rental 

  

							
		  				  	
	 October 1, 2012 thru February 28, 2013
	  	 	=	  	  	$0.00 per month
	 March 1, 2013 thru March 31, 2014
	  	 	=	  	  	$23,739.17 per month
	 April 1, 2014 thru March 31, 2019
	  	 	=	  	  	$32,947.92 per month

 In the event that Tenant decides to accept the Expansion Premises prior to April 1, 2014 in
accordance with the terms of Section 1 and 2 of the Lease, then all months prior to April 1, 2014 in which Tenant occupies the Initial Premises and the Expansion Premises (following the Commencement Date for such Expansion Premises), the Base
Monthly Rent shall be $32,947.92. 

 
month of the Lease Term. All sums of money, other than Monthly Rental Payments, which become due under this Lease are deemed to be “Additional Rent”. Monthly Rental Payments and
Additional Rent shall collectively constitute the “Rent” or “Rentals” due or to become due under this Lease and are herein so called. The nonpayment of any Additional Rent shall afford Landlord all the rights and remedies as are
herein provided in the case of nonpayment of any Monthly Rental Payment. 
 (b) The Security Deposit in the amount of
$23,739.17 shall be payable by Tenant to Landlord contemporaneously with the execution hereof, and a like Monthly Rental Payment shall be due and payable on or before the first day of each succeeding calendar month during the Lease Term
except for such months where no Rent fee is due as set herein. A Monthly Rental Payment for any fractional month at the beginning or the end of the Lease Term shall be prorated on a daily basis unless such is provided at no charge per the terms of
this Lease. 
 (c) No payment by Tenant, or receipt or acceptance by Landlord of a lesser amount than the correct Basic Annual
Rent and/or Additional Rent, shall be deemed to be other than a payment on account, nor shall any endorsement or statement on any check or any letter accompanying any check or payment be deemed an accord and satisfaction, and Landlord may accept
such check or payment without prejudice to Landlord’s right to recover the balance or pursue any other remedies in the Lease or at law or in equity. 
 (d) Other remedies for nonpayment of Rent notwithstanding, if the monthly Base Rental payment is not received by Landlord on or before the tenth (10th) day of the month for which such rent is due, or
if any other payment due Landlord by Tenant hereunder (such sums being deemed to be additional Rent) is not received by Landlord on or before the tenth (10th) day of the month next following the month in which Tenant was invoiced, a service
charge of five percent (5%) of such past due amount shall be additionally due and payable by Tenant. Such service charge shall be cumulative of any other remedies Landlord may have for nonpayment of Rent and other sums payable under this Lease.
Landlord and Tenant acknowledge and agree that Landlord shall send a monthly invoice to Tenant for the Basic Monthly Rental and the absence of same at any time does not relieve Tenant from its obligation to pay any rental when due per this Lease
Agreement. 
 (e) Upon execution of this Lease, Landlord acknowledges receipt in full of the Security Deposit. The Security
Deposit shall be held by Landlord without liability for interest as security for the performance by Tenant of Tenant’s covenants and obligations under this Lease. It is expressly understood that the Security Deposit shall not be considered an
advance payment of Rent or a measure of Landlord’s damages in case of a default by Tenant. Upon the occurrence of any event of default by Tenant, Landlord may, from time to time, without prejudice to any other remedy, use the Security Deposit
to the extent necessary to satisfy any arrearages of Rent and any other damage, injury, expense or liability caused to Landlord by such event of default by Tenant. Following any such application of the Security Deposit, Tenant shall pay to Landlord
within ten (10) business days of receipt of written request the amount so applied in order to restore the Security Deposit to its original amount. If Tenant is not then in default hereunder, any remaining balance of the Security Deposit shall
be returned by Landlord to Tenant upon the expiration or earlier termination of this Lease. If Landlord transfers its interest in the Premises during the Lease Term, Landlord may assign the Security Deposit to the transferee or return the Security
Deposit to Tenant and thereafter shall have no further liability for the return of the Security Deposit. 
 4) ADDITIONAL
RENT. 
 (a) Taxes and Insurance and Common Area Maintenance (CAM): 

(1) Tenant agrees to pay as additional rental Tenant’s pro rata share of the Tax and Insurance and CAM within ten (10) days
following receipt of an invoice from Landlord stating the amount due. The pro rata share to be paid by Tenant is fifty two percent (52%) for the Initial Premises and seventy five percent (75%) at such time as Tenant is using both the
Initial Premises and the Expansion Premises following the Commencement Date as discussed herein. Percentage to be attributed to Tenant may be subject, however, to adjustment for any expansion of the Premises outside of the Expansion Premises.

 (2) “Tax and Insurance Expenses” shall mean: (i) all ad valorem, rental, sales, use, and other taxes (other
than Landlord’s income taxes), special assessments, and other governmental charges, and all assessments due to deed restrictions which accrue against the Building during the term of this Lease; and (ii) all reasonable insurance premiums
paid by Landlord with respect to the Building including, without limitation, public liability, casualty, rental, and property damage insurance. 
 (3) “Common Area Maintenance Expenses” shall mean all expenses (other than the Tax and Insurance Expenses described above) incurred by Landlord for the reasonable maintenance, repair, and
operation of the Building,(excluding only structural soundness of the roof, foundation and exterior walls) including, but not limited to, management fees, utility expenses (if not separately metered), maintenance and repair costs, sewer,
landscaping, trash and security costs (if furnished by Landlord), wages and fringe benefits payable to employees of Landlord whose duties are connected with the operation and maintenance of the Building, amounts paid to contractors or subcontractors
for work or services performed in connection with the operation and maintenance of the Building, all services, supplies, repairs, replacements or other expenses for maintaining, repairing, and operating the Building, including, without limitation
common areas and parking areas and roof, exterior wall and foundation work that is not related to structural soundness. 
 (4)
The term “Common Area Maintenance Expenses” does not include the cost of any capital improvement to the Building other than the reasonably amortized cost of capital improvements which result in the reduction of Insurance Expenses or Common
Area Maintenance Expenses. Further, the term “Common Area Maintenance Expenses” shall not include repair, restoration or other work occasioned by fire, windstorm or other casualty with respect to which Landlord actually receives insurance
proceeds, income and franchise taxes of Landlord, expenses incurred in leasing to or the procuring of tenants, leasing commissions, advertising expenses, expenses for the renovating of space for new tenants, interest or principal payments on any
mortgage or other indebtedness of Landlord, compensation paid to any employee of Landlord above the grade of building superintendent, or depreciation allowance or expense. 
 (5) At or prior to the commencement of this Lease and at any time during the Lease term, Landlord may deliver to Tenant a written estimate of any additional rent applicable to the Premises (based on the
pro rata share stated above) which may be anticipated for Tax and Insurance and CAM Expenses during the calendar year in which this Lease commences or for any succeeding calendar year, as the case may be. Based upon such written estimate, the
Monthly Rental Payment shall be increased by one-twelfth (1/12) of the estimated additional rent. 
 (6) Statements
showing the actual Tax and Insurance Expenses, Common Area Maintenance Expenses and Tenant’s proportionate share thereof (hereinafter referred to as the “Statement of Actual Adjustment”) shall be delivered by Landlord to Tenant after
any calendar year in which additional rental was paid or due by Tenant. Within ten (10) days after the delivery by Landlord to Tenant of such Statement of Actual Adjustment, Tenant shall pay to Landlord the amount of any additional rental shown
on such statement as being due and unpaid. If such Statement of Actual Adjustment shows that Tenant has paid more than the amount of additional rental actually due from Tenant for the preceding calendar year and if Tenant is not then in default
under this Lease, Landlord shall credit the amount of such excess to the next Base Rental installment due from Tenant. The amount of the monthly additional rent for the Initial Premises is estimated by the Landlord as follows: 

 

							
	 Additional Rent:(2012 Estimates for 30,500 SF)
	  	1)Tax	  	$	4,066.67 per month	  
		  		  	  
	  
	 
		  	 2) Insurance
	  	$	559.17 per month	  
		  		  	  
	  
	 
		  	3) Common Area Maintenance	  	$	1,423.33 per month	  
		  		  	  
	  
	 

 (b) If the Commencement Date of this Lease is a day other than the first day of a month, or if the
Termination Date is a day other than the last day of a month, the amount shown as due by Tenant on the Statement of Actual Adjustment shall reflect a proration based on the ratio that the number of days this Lease was in effect during such month
bears to the actual number of days in said month. 
 (c) The failure of Landlord to exercise its rights hereunder to estimate
expenses and require payment of same as additional rental shall not constitute a waiver of such rights which rights may be exercised from time to time at Landlord’s discretion, provided, however, that in no event shall Tenant be required to pay
Additional Rent if such was accrued by Landlord more than six (6) months prior to Landlord requesting payment for such from Tenant. 

 5) UTILITY SERVICE. Tenant shall pay the cost of the utility services,
including, but not limited to, initial connection charges and all charges for gas, water, and electricity used by Tenant on the Premises; provided, however, that Tenant shall not be responsible for initial connection charges if such is already
connected on the Commencement Date nor shall Tenant be responsible for any utility charges accrued prior to the Commencement Date unless otherwise agreed to by Tenant in writing. If the Premises are separately metered, Tenant shall pay such costs
directly to the appropriate utility company. Otherwise, Tenant shall pay such costs pursuant to Paragraph 4(b) above. Tenant shall pay all costs caused by Tenant introducing excessive pollutants into the sanitary sewer system, including permits,
fees and charges levied by any governmental subdivision for any pollutants or solids other than ordinary human waste. If Tenant can be clearly identified as being responsible for obstructions or stoppage of the common sanitary sewage line, Tenant
shall pay the entire cost of repair thereof, following receipt of invoice therefore, as Additional Rent. Tenant shall be responsible for the installation and maintenance of any dilution tanks, holding tanks, settling tanks, sewer sampling devices,
sand traps, grease traps or similar devices which may be required by the appropriate governmental subdivision for Tenant’s use of the sanitary sewer system but not if such are already installed in the Premises prior to the Commencement Date or
if such are the responsibility of the Landlord in preparation of the Premises prior to the Commencement Date. Tenant shall also pay all surcharges (i.e., charges in excess of normal charges) levied due to Tenant’s abnormal use of sanitary sewer
or waste removal services so that no such surcharges shall affect Landlord or other tenants in the Project under Paragraph 4(b) above. 
 (6) USE. Tenant shall occupy and use the Premises for the purpose of general office, R & D, assembly and storage space related to the telecommunications industry. Tenant will not
occupy or use the Premises, or permit any portion of the Premises to be occupied or used for any business or purpose which is unlawful in part or in whole or deemed to be disreputable in any manner or extra-hazardous on account of fire or other
casualty. Tenant shall not permit anything to be done which will in any way increase the rate of fire insurance on the Building or contents, and in the event that, by reason of acts of Tenant, there shall be any increase in the rate of insurance on
the Building or contents created by Tenant’s acts or conduct of business, then such acts of Tenant shall be deemed to be an event of default hereunder, and Tenant hereby agrees to pay to Landlord the actual amount of such increase in accordance
with the terms of this Lease Agreement and acceptance of such payment shall not constitute a waiver of any of Landlord’s other rights provided herein. Tenant will conduct its business and control its agents, employees and invitees in such a
manner as not to create any nuisance or interfere with, annoy or disturb other tenants of the Building or Landlord in management of the Building. Tenant will maintain the Premises in a clean, healthful and safe condition and will comply with all
applicable laws, ordinances, orders, rules and regulations (state, federal, municipal and other agencies or bodies having any jurisdiction thereof) with reference to the use, condition and/or occupancy of Premises, except to the extent that the
responsibility for such is Landlord’s hereunder. 
 7) REPAIRS AND MAINTENANCE. 

(a) By Landlord: Landlord shall be responsible, at its expense, only for the structural soundness of the roof, foundation and
exterior walls of the Building. Any repair to the roof, foundation or exterior walls required due to the fault or omission of Tenant, or its agents, employees, guests or invitees shall be the sole responsibility of Tenant. The term “walls”
as used in this Paragraph 7(a) shall not include windows, glass or plate glass, interior doors, special store fronts, office entries or exterior doors. Landlord’s liability with respect to any defects, repairs or maintenance for which Landlord
is responsible at its expense under this Lease shall be limited to the cost of such repairs or maintenance or the curing of such defect. As expenses included in Common Area Maintenance Expenses, Landlord will be responsible for landscaping and
maintenance of common areas and parking areas, exterior painting, and common sewage line plumbing. Tenant shall immediately give Landlord written notice of defects or need for repairs, after which Landlord shall have a reasonable opportunity to
repair same or cure such defect. Landlord shall not be required to perform any covenant or obligation of this Lease, or be liable in damages to Tenant, so long as the performance or non-performance of the covenant or obligation is delayed, caused
by, or prevented by an act of God or force majeure. An “act of God” or “force majeure” is defined for purposes of this Lease as strikes, lockouts, sit-downs, material or labor restrictions by any governmental authority, riots,
floods, washouts, explosions, earthquakes, fire, storms, acts of the public enemy, wars, insurrections and any other similar cause not reasonably within the control of Landlord, and which by the exercise of due diligence Landlord is unable, wholly
or in part, to prevent or overcome. Notwithstanding the foregoing, Landlord agrees to be monetarily responsible for any repairs/replacements caused by any non- working interior items including but not limited to electrical, plumbing and mechanical
equipment within the Premises for the first sixty (60) days following the Commencement Date of the Lease unless the need for such repairs or replacements is caused by Tenant, in which case, Tenant shall be monetarily responsible. 

(b) By Tenant: 
 (1) Tenant shall maintain all parts of the Premises and their appurtenances (except those for which Landlord is expressly responsible under this Lease) in good, clean and sanitary condition at its own
expense. Tenant shall promptly make all necessary repairs and replacements to the Premises, including, but not limited to, electric light lamps or tubes, windows, glass and plate glass, interior and exterior doors, any special office entry, interior
walls and finish work, floors and floor coverings, downspouts, gutters, heating and air conditioning systems, dock boards, truck doors, dock bumpers, plumbing work and fixtures other than common building sewage lines. Tenant shall be obligated to
repair wind damage to glass caused by events other than hurricanes or tornadoes. Otherwise, however, Tenant shall not be obligated to repair any damage caused by fire, hurricane, tornado or other casualty covered by the insurance maintained by
Landlord. 
 (2) Tenant shall not damage or disturb the integrity, structural soundness, or support of any wall, roof, or
foundation of the Premises. Any damage to these walls caused by Tenant or its employees, agents or invitees shall be promptly repaired by Tenant at its sole cost and expense. 
 (3) Tenant shall, at its own cost and expense, enter into a regularly scheduled preventive maintenance/service contract with a licensed maintenance contractor for servicing all heating and air
conditioning systems and equipment within the Premises. The maintenance contractor and the contract must be approved by Landlord; such approval not to be unreasonably withheld or delayed. The service contract must include all services suggested by
the equipment manufacturer within the operation/maintenance manual and must become effective (and a copy delivered to Landlord) within thirty (30) days of the date Tenant takes possession of the Premises. If Tenant fails to enter into such
service contract as required, Landlord shall have the right to do so on Tenant’s behalf and Tenant agrees to pay Landlord the reasonable cost and expense of same as Additional Rent. Notwithstanding the foregoing, Landlord agrees to deliver all
new and existing HVAC units in good working condition prior to the Commencement Date of the Lease. So long as Tenant maintains the preventative maintenance/service contract stated above, then Landlord will warrant all new and existing HVAC units for
a period of six (6) months from the Commencement Date. After the six (6) month period from the Commencement Date, Tenant shall be responsible for all costs associated with maintenance, service or repair of all units. In the event, that any
HVAC unit cannot be repaired and requires replacement then Landlord and Tenant shall mutually agree on replacement cost prior to installation and Landlord will, upon final installation and receipt of invoice, reimburse Tenant for fifty percent
(50%) of the total replacement cost. 
 (4) Tenant shall pay all charges for pest control and extermination within the
Premises. 
 (5) At the termination of this Lease, Tenant shall deliver the Premises “broom clean” to Landlord in the
same good order and condition as existed at the Commencement Date of this Lease, ordinary wear, natural deterioration beyond the control of Tenant, damage by fire, tornado or other casualty excepted. 

(6) Not in limitation on the foregoing, it is expressly understood that Tenant shall repair and pay for all damage caused by the acts or
omissions of Tenant, Tenant’s employees, agents or invitees, or caused by Tenant’s default hereunder. All requests for repairs or maintenance that are the responsibility of Landlord under this Lease must be made in writing to Landlord at
the address set forth below. 
 8) COMMON AREAS. The use and occupation by Tenant of the Premises shall include
the use in common with others entitled thereto of the common areas, parking areas, service roads, loading facilities (except those that are part of the Premises), sidewalk, and other facilities as may be reasonably designated from time to time by
Landlord. All such common areas and other areas and facilities shall at all times be subject to the exclusive control and management of Landlord, and Landlord shall have the right to construct, maintain, and operate lighting facilities on all said
areas and improvements; to police same; from time to time to change the area, level, location and arrangement of parking areas and other facilities herein above referred to; and to restrict parking by tenants, their officers, agents, and employees
to employee parking areas; provided that, in all cases, that such does not unreasonably interfere with the business operations conducted by Tenant in the Building. Landlord may also segregate and/or designate parking spaces for the exclusive use of

 
customers of other tenants, in which event Tenant and its employees, agents, and invitees shall not make use of same; provided, however, that the number of parking spots available to Tenant
shall, in no event, be less than the product of 1 parking space per 360 Sq feet of the Premises. All common areas and facilities not within the Premises, which Tenant may be permitted to use, are to be used under a revocable license, and if the
amount of such areas be diminished, Landlord shall not be subject to liability nor shall Tenant be entitled to any compensation or diminution or abatement of Rent, nor shall such diminution of such areas be deemed constructive or actual eviction
provided, however, that such does not unreasonably interfere with the business operations conducted by Tenant in the Building. 

9) ASSIGNMENT AND SUBLETTING. Tenant shall not assign its interest in this Lease or any part therein, or allow this Lease
to be assigned, in whole or in part, by operation of law or otherwise (including, without limitation, by transfer of stock or other transfer of ownership of Tenant, merger, reorganization, dissolution or change in occupancy) or mortgage or pledge
the same, or sublet the Premises, or any part thereof, without, in each case, the prior written consent of Landlord, which consent shall not be unreasonably withheld or delayed. In no event shall any such assignment or sublease ever release Tenant
or Guarantor from any obligation or liability hereunder. No assignee or sublessee of the Premises or any portion thereof may assign or sublet the Premises or any portion thereof without Landlord’s prior written consent which will not be
unreasonably withheld or delayed. 
 If Tenant desires to assign its interest in the Lease or any part therein, or sublet all or
any part of the Premises, it shall so notify Landlord at least sixty (60) days in advance of the date on which Tenant desires to make such assignment or sublease. Tenant shall provide Landlord with a copy of the proposed assignment or sublease
(in a form provided by Landlord), and such information as Landlord might reasonably request concerning the proposed sublessee or assignee to allow Landlord to make informed judgments as to the financial condition, reputation, operations and general
desirability of the proposed subtenant(s) or assignee(s). Tenant shall reimburse Landlord for the reasonable cost of reviewing the proposed assignment or sublease, as the case may be. Within thirty (30) days after Landlord’s receipt of
Tenant’s proposed assignment or sublease, and all required information concerning the proposed subtenant(s) or assignee(s), Landlord shall have the option to: 
 (a) Cancel this Lease with respect to the proposed assignment, provided, however, that Tenant may then withdraw its request for assignment and the Lease shall not be canceled in any part and shall
continue with its then current term or; 
 (b) Cancel this Lease as to that portion of the Premises proposed to be sublet, or;

 (c) Sublet (on the terms set forth in the proposed sublease) that portion of the Premises proposed to be sublet, or;

 (d) Consent to the proposed assignment or sublease, in which event, however, if the rent due and payable by any sublessee or
assignee under any such permitted assignment or sublease (or a combination of the rent payable under such assignment or sublease plus any bonus or any other consideration therefor or any payment, incident thereto) exceeds the Rent payable under this
Lease for such space, Tenant shall pay to Landlord fifty (50) percent of all such excess rent remaining after deducting costs (including tenant improvements and commissions, repair and/or improvement costs solely applicable to the assignment or
sublease transaction) within ten (10) days following receipt thereof by Tenant, or; 
 (e) Refuse its consent to the
proposed assignment or sublease, and thereafter, this Lease will remain in full force and effect throughout the then-balance of the Lease Term, which option shall be deemed to be elected unless Landlord gives Tenant written notice providing
otherwise. 
 Notwithstanding the foregoing, Landlord shall release Tenant of responsibility for all obligations, terms, duties
and conditions of this Lease and allow the Lease to be assigned to a proposed assignee of Tenant if all of the following are met: 
 (i) The assignee has a current net worth of five (5) million dollars ($5,000,000) or more; 
 (ii) The intended use of the Premises by the assignee is not inconsistent with the use described in Paragraph 6 (USE) of the Lease, provided that such use does not have to be in the telecommunications
industry; 
 (iii) The intended use of the Premises by the assignee would not materially increase the pedestrian or vehicular
traffic to the Premises or the Building; and 
 (iv) The identity or business reputation of the assignee will not, in the good
faith and commercially reasonable judgment of Landlord, tend to damage the goodwill or reputation of the Building or Project. 

10) INDEMNITY. Tenant hereby indemnifies and holds Landlord harmless from and against all fines, suits, claims, demands,
losses, expenses, costs, fees and actions (including, without limitation, attorney’s fees, costs and expenses) with respect to any injury to person or damage to or loss of property on or about the Premises or in the Building or in or on the
grounds and parking areas caused by the acts or omissions of Tenant, its agents, employees, subtenants, invitees or by any other person entering the Building, the Premises, or related facilities under express or implied invitation of Tenant, or
arising out of the Tenant’s use of the Building, the Premises, or related facilities. Landlord hereby indemnifies and holds Tenant harmless from and against all fines, suits, claims, demands, losses, expenses, costs, fees and actions
(including, without limitation, attorney’s fees, costs and expenses) with respect to any injury to person or damage to or loss of property on or about the Premises or in the Building or in or on the grounds and parking areas caused by the acts
or omissions of Landlord, its agents, employees, invitees, or by any other person entering the Building, the Premises, or related facilities under express or implied invitation of Landlord, or arising out of the Landlord’s use or maintenance of
the Building, the Premises, or related facilities. Neither party shall be liable or responsible for any loss of, or damage to, any property or death of or injury to any person occasioned by theft, fire, act of God, public enemy, injunction, riot,
strike, insurrection, war, or any other matter beyond control of such party. 
 11) MORTGAGES. Tenant accepts this
Lease subject to the liens and substance of any deeds of trust, mortgages, or other such instruments and any security interests and any ground leases which might now or hereafter constitute a lien upon or affect Landlord’s interest in the
Building or improvements therein, the Premises, the Land, or related facilities, and to zoning ordinances and other building and fire ordinances and governmental regulations relating to the use of the Property of which the Premises is a part. This
Paragraph 11 is self-operative and no further instrument of subordination shall be required; provided, however, Tenant shall at any time hereafter, on demand, execute any reasonable instruments, releases or other documents that may be required by
any mortgagee for the purpose of subjecting and subordinating this Lease to the lien of any such deed of trust, mortgage, or other instruments and to any such security interest and to any ground lease. Tenant shall not be required to execute any
such instrument, release or other document that would in any way limit or change its rights in this Lease or impair its ability to use the Premises for its business operations. With respect to any deed of trust, mortgage or other instrument
constituting a lien on the Building or improvements therein, the Premises, or related land and facilities, or any security interest with respect thereto, or any ground lease affecting the Land and/or the Building, Landlord, at its sole option, with
the approval of the holder of such deed of trust, security interest or mortgage, or ground lease, shall have the right to waive the applicability of this Paragraph 11 so that this Lease will not be subject and subordinate to any such deed of trust,
security interest or mortgage, or ground lease. Tenant shall, upon request by Landlord, execute and deliver from time to time, one or more instruments certifying that this Lease is in full force and not in default (or if it is in default, the nature
of such default), that it is unmodified (or if modified, stating the date and nature of each modification), the date through which Rent has been paid, the unexpired Lease Term, and such other matters pertaining to this Lease as may be reasonably
requested by Landlord; provided, however, that Tenant shall have a reasonable amount of time to review and act on such request from Landlord. If the interests of Landlord under this Lease shall be transferred by reason of foreclosure or other
proceedings for enforcement of any mortgage on the Premises, or if Landlord shall sell its interest in the Building and/or the Land, Tenant shall be bound to the transferee (sometimes called the “Purchaser”) under the terms and conditions
of this Lease for the balance of the remaining Lease term, including any extensions or renewals, with the same force and effect as if the Purchaser were Landlord under this Lease. Tenant further agrees to attorn to the Purchaser, including the
mortgagee under any such mortgage (or ground lessor under any such ground lease) if it be the Purchaser, as its Landlord. Such attornment shall be effective without the execution of any further instruments upon the Purchaser succeeding to the
interest of Landlord under this Lease. The respective rights and obligations of Tenant and Purchaser upon the attornment, to the extent of the then remaining balance of the term of this Lease, and any extensions and renewals that are mutually agreed
in writing, shall be and are the same as those set forth in this Lease. Each such holder of any mortgage, deed of trust, lien, or ground lease and each such Purchaser, shall be a third-party beneficiary of the provisions of this Paragraph.
Notwithstanding anything to the contrary contained herein, in no event shall Tenant be required to subordinate this Lease or attorn to any other party unless and until Tenant shall receive a Subordination and Non-Disturbance Agreement in form and
substance reasonably satisfactory to Tenant and executed by all applicable parties. 

 12) INSURANCE. 

(a) Tenant shall not permit the Premises to be used in any way which would, in the reasonable opinion of Landlord, be hazardous or which
would in any way increase the cost of or render void the fire insurance on improvements or contents in the Project belonging to Landlord or other tenants; provided, however, that a Tenant caused increase in the cost of insurance shall not be a
breach or act of default of this Lease if Tenant pays 100% of such increase attributable to the increase for such in accordance with the terms of this Lease. If at any time during the term of this Lease the State Board of Insurance or other
insurance authority disallows any of Landlord’s sprinkler credits or imposes an additional penalty or surcharge in Landlord’s insurance premiums because of Tenant’s original or subsequent placement or use of storage racks or bins,
method of storage or nature of Tenant’s inventory or any other act of Tenant, Tenant agrees to pay as Additional Rent the increase in Landlord’s insurance premiums. If an increase in the fire and extended coverage premiums paid by Landlord
for the Building is caused by Tenant’s use or occupancy of the Premises, or if Tenant vacates the Premises in breach of this Lease and causes an increase, then Tenant shall pay as Additional Rent the amount of such increase to Landlord.

 (b) Tenant shall procure and maintain throughout the term of this Lease a policy or policies of commercial general liability
insurance of the occurrence form and not the claims made form, at Tenant’s sole cost and expense, insuring both Landlord (as an additional insured) and Tenant against all claims, demands or actions arising out of or in connection with:

 (1) the Premises; 
 (2) the condition of the Premises; 
 (3) Tenant’s operations in and
maintenance and use of the Premises; and 
 (4) Tenant’s liability assumed under this Lease including, but not necessarily
limited to, Tenant’s business interruption insurance policy. 
 The limits of such policy or policies shall be not less than one million
dollars ($1,000,000) combined single limit coverage per occurrence for injury to persons (including death) and/or property damage or destruction, including loss of use. All such policies shall be procured by Tenant from responsible insurance
companies. Tenant shall provide a certificate of insurance indicating that all required coverage is in force. All such original and renewal policies shall provide for at least thirty (30) days written notice to Landlord before such policy may
be canceled or changed to reduce insurance coverage provided thereby. Upon request by Landlord, Tenant further agrees to complete and return to Landlord an insurance questionnaire (such form to be provided by Landlord) approved in advance by the
Texas Department of Insurance regarding Tenant’s insurance coverage and intended use of the Premises. Tenant warrants and represents that all information contained in such questionnaire shall be true and correct as of the date thereof and shall
be updated by Tenant from time to time upon Landlord’s request. 
 13) INSPECTION. Landlord or its
representatives shall have the right to enter into, and upon any and all parts of the Premises at reasonable hours with prior notice except in the case of an emergency, to (i) inspect same or clean or make repairs or alterations or additions as
Landlord may deem necessary (but without any obligation to do so, except as expressly provided for herein), (ii) show the Premises to prospective tenants, purchasers or lenders, or (iii) determine Tenant’s use of the Premises or
determine if an event of default under this Lease has occurred; and Tenant shall not be entitled to any abatement or reduction of Rent by reason thereof, nor shall such be deemed to be an actual or constructive eviction. 

14) CONDEMNATION. If, during the Lease Term, all or such lesser portion of the Premises (and Tenant’s associated
parking) that would make the remainder of the Project unfit for Tenant’s use should be taken for any public or quasi-public use under any governmental law, ordinance or regulation or by right of eminent domain or by private purchase in lieu
thereof, this Lease shall terminate and the Monthly Rental Payment and Additional Rent shall be abated during the unexpired portion of this Lease, effective on the date that Tenant must exit and clear the Premises. Tenant shall have no claim against
Landlord for the value of any unexpired portion of the Lease Term. Landlord has the duty to give Tenant the notice of any action that may occur pursuant to this section promptly after Landlord receives such notice. In the event of a partial taking
of the Premises (and Tenant’s associated parking) and the remainder is still for Tenant’s business operations , then the Rent shall be fairly and justly reduced in proportion to the amount remainder under the Lease. 

In the event of any condemnation or taking, total or partial, Tenant shall not be entitled to any part of the award or price paid in lieu
thereof, and Landlord shall receive the full amount of such award or price, Tenant hereby expressly waiving any right or claim to any part thereof. Notwithstanding the foregoing, Tenant shall be entitled to assert a separate claim against the
condemning authority for the moving and relocation expenses incurred as a result of such condemnation; provided such award would not adversely affect Landlord’s award. 
 In the event of a temporary taking, the Lease shall remain in full force and effect and Tenant shall continue to be obligated to make all payments required of it under this Lease, provided, however,
Tenant shall not be required to pay Monthly Rent payment(s) and/or Additional Rent during the period of such temporary taking. 

15) FIRE OR OTHER CASUALTY. In the event that the Premises or any part thereof shall be damaged by fire or other casualty,
Tenant shall give prompt written notice thereof to Landlord. In the event the Building shall be damaged by fire or other casualty, and substantial alteration or reconstruction of the Building shall, in Landlord’s reasonable opinion, be required
(whether or not the Premises shall have been damaged by such fire or other casualty), or in the event any mortgagee under a mortgage or deed of trust covering the Building should require that the insurance proceeds payable as a result of any fire or
other casualty be applied against the mortgage debt, Landlord may terminate this Lease by notifying Tenant in writing of such termination within ninety (90) days after the date of notification to Landlord of such damage and the Monthly Rental
Payment and Additional Rent shall be abated during the unexpired portion of this Lease effective with the date of such damage; provided, however, Tenant’s obligation to pay any and all Additional Rent under this Lease shall continue and shall
cover all periods up to the date of such damage. If Landlord elects not to terminate this Lease, Landlord shall, within ninety (90) days after notification from Tenant of such damage, commence to rebuild or repair the Building and shall proceed
with reasonable diligence to restore the Building (except that Landlord shall not be responsible for delays outside its control) to substantially the same condition it was in immediately prior to the happening of the casualty. Landlord shall not be
required to rebuild, repair, or replace any part of the furniture, equipment, or other personal property or any fixtures and other improvements which may have been placed by Tenant within the Building or the Premises, or related facilities.

 If the Building is to be rebuilt or repaired, Landlord shall allow Tenant a fair and reasonable diminution of Rent during the
time and to the extent the Premises are unfit for Tenant’s intended use. Landlord shall not be liable for any inconvenience or annoyance to Tenant or injury to the business of Tenant resulting in any way from any damage or repair thereof. Any
insurance which may be carried by Landlord or Tenant against loss or damage to the Building or, the Premises, therein shall be for the sole benefit of Landlord; provided, however, any insurance payments to Tenant for loss of any furniture,
furnishings, fixtures, equipment, alterations, additions or improvements which were to become the property of Landlord upon the expiration or earlier termination of this Lease shall be prorated. Tenant shall receive that portion of the insurance
proceeds allocable to the months remaining in the Lease Term, and Landlord shall receive the portion allocable to the months remaining in the useful life of the item lost. 
 16) HOLDING OVER. Should Tenant, or any of its successors-in-interest, hold over in the Premises, or any part thereof, after the expiration or earlier termination of the Lease Term, unless
otherwise agreed in writing, such holding over shall constitute and be construed as tenancy at will, terminable by Landlord on three (3) days notice, at a rental equal to one hundred and fifty percent (150%) of the Base Monthly Rental
payment together with the most current rental adjustment which may have been made thereto pursuant to Paragraph 3 hereof. The holding over by Tenant for any part of a month shall entitle Landlord to collect the Rent called for under this Paragraph
16 for the entirety of such month. Nothing contained in this paragraph shall be construed as Landlord’s consent for the Tenant to hold over. Landlord shall also be entitled to all of its other rights and remedies available at law or in equity,
including, without limitation, the right of forcible detainer. 
 17) TAXES ON TENANT’S PROPERTY. Tenant
shall be liable for all taxes levied or assessed against personal property or fixtures placed by Tenant in the Premises and/or the Building except to the extent such taxes are levied or assessed on such property after it becomes the property of
Landlord. If any taxes for which Tenant is liable pursuant to this Paragraph 17 are levied or assessed against Landlord or Landlord’s property and if Landlord elects to pay the same or if the assessed value of the Landlord’s property is
increased by inclusion of personal property or fixtures placed by Tenant in the Premises and/or the Building, and Landlord elects to pay the taxes based on such increase, Tenant shall pay to Landlord upon demand that part of such taxes for which
Tenant is primarily liable hereunder. 

 18) EVENT OF DEFAULT. The following shall be events of default by Tenant under
this Lease: 
 (a) Tenant shall fail to pay any Rental, Monthly Rental Payment, Additional Rent, or any other sum due hereunder
when due; 
 (b) Tenant shall fail to comply with any term, provision or covenant of this Lease other than the payment of Rent,
and shall not cure such failure within ten (10) days after written notice thereof to Tenant; 
 (c) Tenant shall make a
general assignment for the benefit of creditors; 
 (d) Tenant shall file a petition under any section or chapter of the United
States Bankruptcy Code, as amended, or under any similar law or statute of the United States or any State thereof, or an involuntary bankruptcy shall be filed against the Tenant and such action/filing shall not be dismissed within thirty
(30) days thereafter; or 
 (e) A receiver or Trustee shall be appointed for all or substantially all of the assets of
Tenant, and such receivership or trusteeship shall not be terminated or stayed within thirty (30) days; 
 19)
REMEDIES. Upon the occurrence of any event of default specified in Paragraph 18 hereof, Landlord shall have the option to pursue any one or more of the following remedies without any notice or demand whatsoever in addition to all other
rights or remedies provided herein or at law or in equity: 
 (a) Terminate this Lease, in which event Tenant shall immediately
surrender the Premises to Landlord, and if Tenant fails to do so, Landlord may, without prejudice to any other remedy which it may have for possession or arrearages in Rent, enter and take possession and expel or remove Tenant and any other person
who may be occupying the Premises or any part thereof, without being liable for prosecution or any claim of damages therefore. 

(b) Enter upon and take possession of the Premises and expel or remove Tenant and any other person who may be occupying the Premises or
any part thereof, without being liable for prosecution or any claim for damages therefor, and if Landlord so elects, relet the Premises on such terms as Landlord shall deem advisable and receive the rent therefrom; 

(c) Enter upon the Premises, without being liable for prosecution or any claim for damages therefor, and do whatever Tenant is obligated
to do under the terms of this Lease, and Tenant agrees to reimburse Landlord, on demand, for any reasonable expenses which Landlord may incur in thus effecting compliance with Tenant’s obligations under this Lease; 

No re-entry or taking possession of the Premises by Landlord in accordance with the terms of this Lease shall be construed as an election
by Landlord on its part to terminate Tenant’s right to possession under this Lease, unless a written notice of such intention is given by Landlord to Tenant. Notwithstanding any such reletting or re-entry or taking possession, Landlord may at
any time thereafter elect to terminate this Lease for a previous event of default. Pursuit of any remedy herein provided shall not constitute a forfeiture or waiver of any Rent due to Landlord hereunder or of any damages accruing to Landlord by
reason of the violation of any of the terms, provisions and covenants herein contained. Landlord’s acceptance of rent following an event of default hereunder shall not be construed as Landlord’s waiver of such event of default. No waiver
by Landlord of any violation or breach of any of the terms, provisions, and covenants herein contained shall be deemed or construed to constitute a waiver of any other violation or breach of any of the terms, provisions, and covenants herein
contained. Forbearance by Landlord to enforce one of more of the remedies herein provided upon an event of default shall not be deemed or construed to constitute a waiver of any other violation or default. The loss or damage that Landlord may suffer
by reason of termination of this Lease or the deficiency from any reletting as provided for above shall include the reasonable expense of repossession and any repairs or remodeling reasonably required to be undertaken by Landlord following
possession. Should Landlord at any time terminate this Lease for any event of default, in addition to any other remedy Landlord may have, Landlord may recover from Tenant all reasonable damages Landlord may incur by reason of such event of default,
including, without limitation, the cost of recovering the Premises and the loss of the Basic Annual Rental remaining unpaid. The use of remedy by Landlord shall not limit Landlord’s rights with respect to its use of all other remedies available
at law and/or in equity. Notwithstanding anything to the contrary, i) Landlord shall use commercially reasonable efforts to mitigate any damages resulting from an Event of Default by Tenant under this Lease; and ii) the actions described in
subsections (c), (d) or (e) of Section 18 shall not be considered an event of default for so long as Tenant continues to meet its material commitments in this Lease, including making all payments in accordance with the terms herein,
during the period such action(s) is taking place. 
 20) SURRENDER OF PREMISES. 

(a) On the last day of the term of this Lease, or upon any earlier termination of this Lease, or upon any re-entry by Landlord upon the
Premises, Tenant shall quit and surrender the Premises to Landlord broom-clean and in good order, condition and repair, except for ordinary wear and tear and such change or destruction as Landlord is required to repair or restore under this Lease,
and Tenant shall remove all of Tenant’s property therefrom, except as otherwise expressly provided in this Lease. 
 (b) No
act or thing done by Landlord or its agents during the Lease Term shall be deemed an acceptance of a surrender of the Premises, and no agreement to accept a surrender of the Premises shall be valid unless the same be made in writing and subscribed
by Landlord. 
 21) ATTORNEY’S FEES. In case it should be necessary or proper for Tenant or Landlord to bring
any action under this Lease or to consult or place this Lease with an attorney concerning the enforcement of any provision hereof, then Tenant and Landlord agree in each and such case that the prevailing party in such action shall be entitled to
recover its reasonable attorney’s fees from the losing party. 
 22) LANDLORD’S LIEN. Landlord waives
and relinquishes any and all landlord’s liens that it may have under statute or the Texas constitution, and Landlord acknowledges and agrees that no landlord’s lien or security interest is granted by Tenant under this Lease Agreement.

 23) MECHANIC’S LIEN. Tenant will not permit any mechanics’, materialmans’ or similar lien or
liens to be placed upon the Premises or the Building or improvements thereon caused by or resulting from any work performed, materials furnished or obligation incurred by or at the request of Tenant, and in the case of the filing of any such lien,
Tenant will promptly pay or contest same to cause such lien to be released and/or discharged. If default in payment thereof shall continue for thirty (30) days after written notice thereof from Landlord to Tenant, and such claim is not being
contested, Landlord shall have the right and privilege, but not the obligation, at Landlord’s option, of paying the same, or any portion thereof, without inquiry as to the validity thereof, and any amounts so paid, including reasonable, actual
expenses, shall constitute Additional Rent hereunder due from Tenant to Landlord and shall be repaid to Landlord in accordance with the terms for payment of Additional Rent hereunder. 

24) WAIVER OF SUBROGATION. Landlord and Tenant hereby waive and release any and all rights, claims, demands and causes of
action each may have against the other on account of any loss or damage occasioned to Landlord or to Tenant (as the case may be), their respective businesses, real and personal properties, the Premises, the Building, the project of which the
Building is a part, or its contents, arising from any risk or peril covered by any insurance policy carried by either party. Inasmuch as the above mutual waivers will preclude the assignment of any such claim by way of subrogation (or otherwise) to
an insurance company (or any other person), each party hereto hereby agrees immediately to give to its respective insurance companies written notice of the terms of such mutual waivers and to have their respective insurance policies properly
endorsed, if necessary, to prevent the invalidation of such insurance coverages by reason of such waivers. This provision shall be cumulative with Paragraph 11 above. 
 25) NOTICES. Each provision of this Agreement, or of any applicable governmental laws, ordinances, regulations, and other requirements with reference to the sending, mailing or delivery of
any notice, or with reference to the making of any payment by Tenant to Landlord, shall be deemed to be complied with when and if the following steps are taken: 

 (a) All Monthly Rental Payments and Additional Rent required to be made by Tenant to
Landlord hereunder shall be payable to Landlord in Dallas County, Texas, at the address hereinbelow set forth, or at other such address as Landlord may specify from time to time by written notice in accordance herewith; 

(b) Any notice or document required to be delivered hereunder shall be deemed to be delivered if actually received in person, sent by
electronic means or by facsimile with confirmation or, mailed postage prepaid within the U.S. notice shall be effective five (5) days after mailing and, if sent by overnight courier, then deemed received the next day. Any such notice shall be
addressed to the parties hereto at the respective addresses set out opposite their names below, or at such other address as they have heretofore specified by written notice delivered in accordance herewith: 

LANDLORD: 
 Telecom Commerce III, Ltd. 
 c/o JSC Realty Services, Inc. 

2711 LBJ Freeway, Suite 130 
 Dallas, TX 75234 
 TENANT: 

Mavenir Systems, Inc. 
 1700 International Parkway, Suite 200 
 Richardson, TX 75081 

Attn: General Counsel 
 26) FORCE MAJEURE. Whenever a period of time is herein prescribed for action to be taken by Landlord or Tenant (except for the obligation of Tenant to pay the Monthly Rental Payments,
Additional Rent or other sums due hereunder), then neither party shall be liable or responsible for, and there shall be excluded from the computation of any such period of time, any delays due to strikes, riots, acts of God, shortages of labor or
materials, war, governmental laws, regulations or restrictions or any other causes of any kind whatsoever which are beyond the control of such party. 
 27) SEPARABILITY. If any clause or provision of this Lease is held by a court of competent jurisdiction to be illegal, invalid or unenforceable under present or future laws effective during
the Lease Term, then, and in that event, it is the intention of the parties hereto that the remainder of this Lease shall not be affected thereby, and it is also the intention of the parties to this Lease that in lieu of each clause or provision of
this Lease that is illegal, invalid, or unenforceable there be added as a part of this Lease a clause or provision as similar in terms to such illegal, invalid or unenforceable clause or provision as may be possible and be legal, valid and
enforceable. 
 28) ENTIRE AGREEMENT; AMENDMENTS; BINDING EFFECT. This Lease contains the entire agreement between
the parties and may not be amended, supplemented or terminated except by instrument in writing signed by both parties hereto. No provision of this Lease shall be deemed to have been waived by either party unless such waiver be in writing, signed by
such party and delivered to the other party in accordance with the notice provision herein, nor shall any custom or practice which may arise between the parties in the administration of the terms hereof be construed to waive or lessen the right of
Landlord to insist upon the performance by Tenant in strict adherence with the terms hereof. The terms, provisions, covenants and conditions contained in this Lease shall apply to, inure to the benefit of, and be binding upon the parties hereto, and
upon their respective successors-in-interest, permitted assigns and legal representatives, except as otherwise herein expressly provided. 
 29) QUIET ENJOYMENT. Provided Tenant has performed all of the terms, covenants, agreements and conditions of this Lease, including, without limitation, the payment of Monthly Rental Payments
and Additional Rent, to be performed by Tenant, Tenant shall peaceably and quietly hold and enjoy the Premises for the Lease Term, without hindrance from Landlord, subject to the terms and conditions of this Lease. 

30) RULES AND REGULATIONS. Tenant and Tenant’s agents, employees, and invitees will comply fully with all requirements
of the Rules and Regulations of the Building and related facilities which are attached hereto as Exhibit “D”, and made a part hereof as though fully set forth herein. Landlord shall at all times have the right to change or amend such Rules
and Regulations or to promulgate other rules and regulations in such reasonable manner as may be deemed advisable for safety, care, or cleanliness of the Building, the Premises, or related land and facilities, and for preservation of good order
therein, all of which Rules and Regulations, changes and amendments will be forwarded to Tenant in writing and shall be carried out and observed by Tenant. Tenant shall further be responsible for the compliance with such Rules and Regulations by the
employees, servants, agents, visitors and invitees of Tenant. Nothing in this Lease shall be construed to impose upon Landlord any duty or obligation to enforce the Rules and Regulations against any other tenant or any employee or agent of any other
tenant and Landlord shall not be liable to Tenant for violation of the Rules and Regulations by any other tenant or its agents, employees, invitees or licensees. 
 31) BROKER’S OR AGENT’S COMMISSION. Tenant represents and warrants that it has dealt with no Broker or Agent in connection with this Lease, except as listed below, and Tenant
agrees to indemnify and hold Landlord harmless from and against all liabilities and costs arising from a breach of such representation and warranty including, without limitation, attorney’s fees, costs and expenses in connection therewith:
CBRE, Inc. For clarity, Landlord acknowledges and agrees that it will compensate the Tenant’s Broker, CBRE, Inc., for its work related to this Lease in accordance with the terms of a separate commission agreement. Additionally, Landlord
shall be fully responsible for compensating any Broker or Agent it used in connection with this Lease. 
 32)
GENDER. Words of any gender used in this Lease shall be held and construed to include any other gender, and words in the singular number shall be held to include the plural, unless the context otherwise requires. 

33) GUARANTY, JOINT AND SEVERAL LIABILITY Intentionally Deleted. 

34) CAPTIONS. The captions in this Lease are for convenience of reference only, and in no way limit or enlarge the terms and
conditions of this Lease. 
 35) PLACE OF PERFORMANCE. Tenant shall perform all covenants, conditions and
agreements contained herein, including but not limited to payment of the Monthly Rental Payments and Additional Rent, in Dallas County, Texas. Any suit arising from or relating to this Lease shall be brought in Dallas County, Texas.

 36) ESTOPPEL CERTIFICATES. Tenant shall at any time and from time to time, upon not less than ten
(10) days prior request by Landlord, execute, acknowledge and deliver to Landlord a statement in writing certifying that this Lease is unmodified and in full force and effect (or if there have been any modifications, that the same is in full
force and effect as modified and stating the modifications), and the dates to which the Rent and any other charges have been paid, and either stating that to the knowledge of Tenant no default exists hereunder or specifying each such default known
to Tenant, and stating such other matters as may be reasonably requested by landlord; it being intended that any such statement delivered pursuant to this paragraph may be relied upon by any prospective purchaser or encumbrancer (including
assignees) of the Premises. 
 37) NOTICE TO LANDLORD. In the event of any act or omission by Landlord which would
give Tenant the right to damages from Landlord or the right to terminate this Lease by reason of a constructive or actual eviction from all or part of the Premises or otherwise, Tenant shall not sue for such damages or exercise any such right to
terminate until it shall have given written notice of such act or omission to Landlord a reasonable period of time, for remedying such act or omission shall have elapsed following the giving of such notices, during which time Landlord, their agents
or employees, shall be entitled to enter upon the Premises and do therein whatever may be necessary to remedy such act or omission. During the period after the giving of such notice, and during the remedying of such act or omission, the Rental
payable by tenant for such period as provided in this Lease shall be abated and apportioned only to the extent that any part of the Premises shall be untenantable. 
 38) LIMITATION ON LANDLORD LIABILITY. The liability of Landlord and its shareholders, officers and directors to Tenant for any default by Landlord under the terms of this Lease shall be
limited to the monetary interest of Landlord in the Building and the Land, and Tenant agrees to look solely to Landlord’s and its shareholders, officers and directors interest in the Building and the Land for the recovery of any judgment from
Landlord and its shareholders, officers and directors, it being intended that Landlord and its shareholders, officers and directors shall not be personally liable for any judgment or deficiency. 

 39) PARKING. During the term of this Lease, Tenant, in common with Landlord
and other tenants of the Building and their guests and invitees, and tenants, guests and invitees of owners of property in the area of the Building, shall have the non-exclusive use of the uncovered automobile parking areas serving the Building,
subject to the reasonable rules and regulations for the use thereof, as prescribed from time to time by Landlord. Landlord shall not be responsible for security with respect to parking areas and shall not be liable or responsible for any loss of or
damage to any car or vehicle or equipment or other property therein or damage to property or injuries (fatal or non-fatal), unless such loss, damage, or injury be proximately caused by the negligence of Landlord or its employees. Landlord may make,
modify, and enforce reasonable rules and regulations relating to the parking of automobiles, and Tenant will abide by such reasonable rules and regulations. 
 40) MISCELLANEOUS. 
 (a) Each party warrants and represents that it
has the right and power to enter into this Lease. 
 (b) Because the Premises are on the open market and are presently being
shown, this Lease shall be treated as an offer to lease only. Unless and until this Lease is accepted by Landlord and Tenant in writing and a fully executed copy delivered to both parties, this offer is subject to withdrawal or non-acceptance by
either party and the Premises may be leased to another party or used for another purpose by Landlord without notice. 
 (c) If
Tenant shall fail to pay, when the same is due and payable, any Rent, any Additional Rent, or any other sum due hereunder, such unpaid amount shall bear interest from the due date thereof to the date of payment at the highest non-usurious rate
permitted by the then-applicable law. 
 (d) Landlord does not in any way or for any purpose in connection with this Lease
become a partner of Tenant in the conduct of its business or otherwise, nor a member of a joint venture with Tenant. 
 (e) Time
is of the essence in the performance of all the covenants, conditions and agreements contained in this Lease. 
 (f) This Lease
may be executed in one or more counterparts, each of which counterparts shall for all purposes be deemed to be an original, but all such counterparts together shall constitute but one instrument. 

41) NO REPRESENTATIONS. Tenant will make no claim on account of any representations whatsoever, whether made by any renting
agent, broker, officer or other representative of Landlord or which may be contained in any circular, prospectus or advertisement relating to the Premises or the Building, or otherwise, unless the same is specifically set forth in this Lease.

 42) COMPLIANCE WITH LAWS. 
 (a) Tenant shall give prompt notice to Landlord of any notice it receives of the violation of any law or requirement of any public authority with respect to the Premises or the use or occupation thereof.
Tenant shall, at Tenant’s expense, comply with all laws and requirements of any public authorities which shall, in respect of the Premises or the use and occupation thereof, or the abatement of any nuisance in, on or about the Premises, impose
any violation, order or duty on Landlord or Tenant, arising from (i) Tenant’s use of the Premises, (ii) the manner of conduct of Tenant’s business or operation of its installations, equipment or other property therein,
(iii) any cause or condition created by or at the instance of Tenant, or (iv) breach of any of Tenant’s obligations hereunder; and Tenant shall pay all the costs, expenses, fines, penalties and damages which may be imposed upon
Landlord or any ground lessor of the Landlord or the Building affecting the Premises by reason of or arising out of Tenant’s failure to fully and promptly comply with and observe the provisions of this section. However, Tenant need not comply
with any such law or requirement of any public authority so long as Tenant shall be contesting the validity thereof, or the applicability thereof to the Premises, in accordance with Section 42(b). Subject to the provisions of
Section 42(c), Landlord, at its expense, shall comply with all other such laws and requirements of public authorities as shall affect the Premises, but may similarly defer compliance so long as Landlord shall be contesting the validity or
applicability thereof. 
 (b) Tenant, at its expense, after notice to Landlord, may contest, by appropriate proceedings
prosecuted diligently and in good faith, the validity, or applicability to the Premises, of any law or requirement of any public authority, provided that (a) Landlord shall not be subject to criminal penalty or to prosecution for a crime, nor
shall the Premises or any part thereof be subject to being condemned or vacated, by reason of non-compliance or otherwise by reason of such contest; (b) before the commencement of such contest, Tenant shall furnish to Landlord either
(i) the bond of a surety company satisfactory to Landlord, which bond shall be, as to its provisions and form, satisfactory to Landlord, and shall be in an amount at least equal to one hundred twenty-five percent (125%) of the cost of such
compliance (as estimated by a reputable contractor designated by Landlord) and shall indemnify Landlord against the cost thereof and against all liability for damages, interest, penalties and expenses (including reasonable attorneys’ fees and
expenses), resulting from or incurred in connection with such contest or non-compliance. or (ii) cash in the amount of such bond or other security reasonably satisfactory to Landlord in place of such bond; and (c) Tenant shall keep
Landlord advised as to the status of such proceedings. 
 (c) Landlord represents and warrants that to the best of its
knowledge, the Building is in compliance with all applicable municipal and federal codes, including, but not limited to, the Americans with Disabilities Act. 
 (d) Landlord represents and warrants that to the best of its knowledge, the Premises, Building and Project do not contain asbestos, hazardous waste, PCB’s or underground tanks. 

43) MEMORANDUM OF LEASE. Tenant shall not record this Lease. However, at the request of Landlord, Tenant shall promptly
execute, acknowledge and deliver to Landlord a memorandum of lease in respect of this Lease sufficient for recording. Such memorandum shall not be deemed to change or otherwise affect any of the obligations or provisions of this Lease. 

44) CONSENT TO JURISDICTION. Each party hereby consents to the jurisdiction of the courts of Texas (both Federal and State)
in any action brought by the other party. 
 45) MORTGAGEE MODIFICATION. In the event that a mortgagee of the
Building or the Land requires a modification to this Lease, Landlord shall provide notice and content of such modification to Tenant and Tenant shall have thirty (30) days to review such. If Tenant consents to such modification, such consent
not to be unreasonably withheld or delayed, then Tenant will execute an amendment in connection therewith, provided such modification does not change the Lease Term, the Basic Annual Rental, the Additional Rent nor does such modification materially
adversely affect Tenant. 
 46) TEXAS LAW. This Lease is governed by and construed in accordance with the laws of
the State of Texas. 
 47) SIGNS. No sign, door plaques or advertisement shall be displayed, painted or affixed by
Tenant on any external part of the Project or the Building, parking facilities, or external part of the Premises without the prior written consent of Landlord; such consent not to be unreasonably withheld or delayed. The color, size, character,
style, material, and placement of any external signs shall be approved by Landlord, acting reasonably and shall be subject to any applicable governmental laws, ordinances, regulations and mutually agreed project specifications. Signs on external
doors and entrances to the Premises, if approved by Landlord, shall be placed thereon by a reasonably qualified contractor and paid for by Tenant. Tenant shall remove all such signs at the expiration or earlier termination of this Lease. Such
installations and removals shall be made in such manner as to avoid defacement of the Project and other improvements, and Tenant, at its sole expense, shall repair any defacement caused by such installation and/or removal. 

48) HAZARDOUS WASTE. The term “Hazardous Substances,” as used in this Lease shall mean pollutants, contaminants,
toxic or hazardous wastes, or any other substances, the use and/or the removal of which is required or the use of which is restricted, prohibited or penalized by any “Environmental Law,” which term shall mean any federal, state or local
law, ordinance or other statute of a governmental or quasi-governmental authority relating to the pollution or protection of the environment. Tenant hereby agrees that (i) no activity will be conducted on the Premises that will produce any
Hazardous Substances; (ii) the Premises will not be used in any manner for the storage of any Hazardous Substances; (iii) no portion of the Premises will be used as a landfill or a dump; (iv) Tenant will not install any underground
tanks of any type; (v) Tenant will not allow any surface of subsurface conditions to exist or come into existence 

 
that constitute, or with the passage of time may constitute a public or private nuisance; (vi) Tenant will not permit any hazardous Substances to be brought onto the Premises, and if so
brought thereon, then the same shall be immediately removed with proper disposal, and all required clean-up procedures shall be diligently undertaken pursuant to all Environmental Laws. Landlord or Landlord’s representative shall have the right
but not the obligation to enter the Premises upon reasonable notice except in case of an emergency for the purpose of ensuring compliance with all Environmental Laws. If Tenant so contaminates the Premises, then Tenant shall promptly and diligently
institute proper and thorough clean-up procedures at Tenant’s sole cost, and Tenant hereby indemnifies and holds Landlord harmless from and against all claims, demands, actions, liabilities, costs, expenses, damages and obligations of any
nature arising from or as a result of Tenant’s failure to comply with this Paragraph 48. The foregoing indemnification and the responsibilities of Tenant shall survive the expiration or earlier termination of this Lease. 

49) INDEPENDENT OBLIGATIONS OF TENANT. The obligation of Tenant to pay all Rental and other sums hereunder provided to be
paid by Tenant and the obligation of Tenant to perform Tenant’s other covenants and duties hereunder constitute independent, unconditional obligations to be performed at all times provided for hereunder, save and except only when an abatement
thereof or reduction therein is hereinabove expressly provided for and not otherwise. Tenant waives and relinquishes all rights which Tenant might have to claim any nature of lien against or withhold, or deduct from or offset against any Rental and
other sums provided hereunder to be paid Landlord by Tenant. Tenant waives and relinquishes any right to assert, either as a claim or as a defense, that Landlord is bound to perform or is liable for the nonperformance of any implied covenant or
implied duty of Landlord not expressly herein set forth. 
 50) COUNTERPART EXECUTION. This Lease may be executed
in multiple counterparts, including fax, electronic mail and other electronic means, each of which shall be deemed to constitute an original, but all of which, when taken together, shall constitute one and the same instrument, with the same effect
as if all of the parties to this Lease had executed the same counterpart. The signature pages may be consolidated to form one single instrument. 
 51) TERMINATION OPTION. Tenant shall have a one-time option to terminate the Lease for the entire 43,750 SF Premises and any additional space that may be leased hereunder or pursuant to this
Lease, effective at midnight (CST) February 28, 2018 (the “Termination Date”). In order for this one-time option to be effective, Tenant must give written notice of its intention to terminate the Lease to Landlord prior to
September 1, 2017 and, together with such written notice, provide to Landlord a termination payment equal to the unamortized cost of Tenant Improvements and Commissions at eight percent (8%) amortization rate equaling the amount of
$95,100.89 plus five (5) additional months of Basic Monthly and Additional Rental; such Additional Rental to be reasonably approximated if not known for certain. In the event Tenant has leased additional space beyond the 43,750 SF Premises,
Tenant shall provide a termination payment equal to the unamortized cost of Tenant Improvements and Commissions at eight percent (8%) amortization rate for the additional space plus five (5) additional months of Basic Monthly and
Additional Rental; such Additional Rental to be reasonably approximated if not known for certain. 
 EXHIBITS: 

 

	A.	Legal Description 

	B.	Existing Floor Plan 

	C.	Leasehold Improvements 

	C1.	Preliminary Plan 

	D.	Rules & Regulations 

	E.	Option To Renew 

	F.	Right of First Refusal 

									
	 LANDLORD:
	 		 		 	TENANT:
	 Telecom Commerce III, Ltd
	 		 		 	Mavenir Systems, Inc.
	 A Texas Limited Partnership
	 		 		 	
					
	By:	 	International at Glenville, Inc.	 		 		 	
		 	A Texas corporation, its General Partner	 		 		 	
					
	By: 	 	 /s/ Kenneth W. Shaw
	 		 	By:	 	 /s/ Terry Hungle

		 	 Kenneth W. Shaw
	 		 		 	 Terry Hungle

					
	Its:	 	 President
	 		 	Its:	 	 Chief Financial Officer

					
	Date:	 	 July 20, 2012
	 		 	Date:	 	 July 19, 2012

 EXHIBIT “A” 

LEGAL DESCRIPTION 

BEING a tract of land situated in the Jesse N. Everett Survey, Abstract No. 440, Dallas county, Texas, said tract of land being Lot 1B, Block E,
CENTRAL PARK SUBDIVISION, an addition to the city of Richardson, according to the plat recorded in Volume 84124, Page 2041, Map Records, Dallas County, Texas, with Certificate of Correction recorded in Volume 85121, Page 1263 of the Deed Records of
Dallas County, Texas, and being more particularly described as follows: 
 BEGINNING at a found “X” on a concrete headwall at the
intersection of the east line of International Parkway (60 foot right-of-way), with the centerline of a drainage easement (110 feet wide) recorded in Volume 73245, Page 1642 of the Deed Records of Dallas county, Texas, said point also being in the
north line of Lot 1, Block F, as recorded in Volume 83118, Page 1449 of the Deed Records of Dallas County, Texas, said point lying on a circular curve to the left having a radius of 3875.00 feet whose center bears North 48 degrees 24 minutes 18
seconds West; 
 THENCE Northeasterly, along said curve through a central angle of 06 degrees 53 minutes 30 seconds, an arc distance of 466.10
feet to a found iron rod for a corner; 
 THENCE South 55 degrees 16 minutes 42 seconds East, departing said east line and along the common line
between said Lot 1B and Lot 1A, Block E of said Central Park addition, a distance of 298.18 feet to a found “V” for a corner; 

THENCE South 10 degrees 16 minutes 42 seconds East, continuing along said common line, a distance of 77.75 feet to a found “X” for a corner;

 THENCE South 34 degrees 43 minutes 18 seconds West, continuing along said common line, a distance of 410.00 feet to set P.K. nail for a
corner, said P.K. nail lying in the north line of said Lot 1, Block F; 
 THENCE North 55 degrees 16 minutes 42 seconds West, departing said
common line and along the north line of said Lot 1, Block F and along the centerline of said 110 foot wide drainage easement, a distance of 381.01 feet to the POINT OF BEGINNING AND CONTAINING 167,000 square feet or 3.834 acres of land, more or
less. 

 EXHIBIT “B” 

EXISTING FLOOR PLAN 
 The floor plan below is representative of the existing layout of the Premises. It is agreed that the final floor plan shall be mutually agreed to by both Landlord and Tenant, after which it will be
incorporated into this Exhibit “B”. 
  
 

 

 EXHIBIT “C” 

LEASEHOLD IMPROVEMENTS 
 Landlord shall construct in the Premises the Leasehold Improvements (including the three (3) alternates) as are described on the Tenant Improvement Summary below dated May 2, 2012 and the
Preliminary Plan attached hereto as Exhibit “C1”. For clarity, the Landlord acknowledges and agrees that at the end of the Lease term (due to expiration or earlier termination in accordance with the terms of the Lease), the generator being
provided will be owned in full by Tenant and Tenant may, at the expiration or earlier termination of the Agreement, remove such generator and upon removal Tenant shall repair any damage caused by such removal. In addition to the summary below,
Landlord shall provide, based upon mutually acceptable plans, an allowance of One Hundred Thousand dollars ($100,000.00) to be utilized within the 13,250 SF “Expansion Premises” described on Exhibit “B” herein, such being the
Expansion Premises. This allowance shall be applied to coincide with an April 1, 2014 Base Rental Commencement Date or such earlier date if Tenant gives Landlord written notice of such in accordance with the terms of this Lease. Any
modification to this summary shall be mutually agreed to by Landlord and Tenant with the cost difference reflected accordingly on any unamortized cost associated herein. 

 
 

 

 EXHIBIT “C1” 

Preliminary Plan 
  

 

 EXHIBIT “D” 

RULES AND REGULATIONS 
 The following Rules and Regulations are prescribed by Landlord in order to provide and maintain, to the best of Landlord’s ability, orderly, clean and desirable Premises, building and parking
facilities for the tenants therein and to regulate conduct in and use of the Premises, the Building and parking facilities in such a manner as to minimize interference by others in the proper use of the Premises by Tenant. In the following Rules and
Regulations, all references to Tenant include not only Tenant, but, also, Tenant’s agents, servants, employees, invitees, licensees, visitors, permitted assignees, and/or sublessees: 
 1. Tenant shall not block or obstruct any of the entries, passages, doors, hallways, or stairways of the Building or the parking area, or place, empty, or throw any rubbish, litter, trash, or material of
any nature into such areas, or permit such areas to be used at any time except for ingress or egress of Tenants. 
 2. Landlord will not be
responsible for lost or stolen personal property, equipment, money, or any article taken from the Premises, Building, or parking facilities, unless or to the extent such is due to the negligence or willful misconduct of Landlord or its employee or
contractor. 
 3. The plumbing facilities shall not be used for any other purpose than that for which they are constructed, and no foreign
substance of any kind shall be placed therein, and the expense of any breakage, stoppage, or damage resulting from a violation of this provision by Tenant shall be borne by Tenant. 
 4. Tenant shall permit Landlord, during the twelve (12) months prior to the expiration of this Lease to show the Premises, with at least twenty-four (24) hour prior written notice, during
business or non-business hours to prospective lessees and to advertise the Premises for rent. 
 5. Any keys required by Tenant during the term
of this Lease shall be requested from Landlord and shall be paid for by Tenant upon delivery of keys to the Premises; provided, however, i) Landlord shall present Tenant with a reasonable number of keys to each exterior lock currently serving the
Premises upon the Commencement Date of the Initial Premises and as regards the Expansion Premises and, if applicable, the space discussed in Exhibit F; and, ii) Tenant may operate a pass card scanner or related system for entry to the Premises and
distribute pass cards or the like as it deems necessary without fee to be paid to Landlord. Prior to or upon the Commencement Date, Landlord shall replace all exterior locks at its expense and the keys provided to Tenant hereunder shall be to such
new locks. In the event new locks are requested by Tenant after the Commencement Date, then all costs associated with such request (including hardware, installation and keys) shall be paid by Tenant. 

6. The common parking facilities are available for use by any and all Tenants. Landlord reserves the right to assign or allocate parking in the event of
conflicts, abuse or improper use of these common parking facilities. It is generally understood that any Tenant should utilize only those parking spaces immediately adjacent to that Tenant’s specific premises. 

Proper use of the common parking facilities is deemed to be that use which is occasioned by the normal in and out traffic required by the
Tenant, in the normal course of the Tenant’s business operations. 
 Vehicles that are abandoned, disabled, obstructing any
means of ingress or egress to the Premises, or are in any way a general nuisance or hazard are subject to removal, without notice by Landlord’s designated wrecker and towing service. All costs associated with such removal shall be at the
Vehicle Owner’s expense. 
 7. Tenant shall not use the Building, the Premises, or parking facilities for housing, lodging, or sleeping
purposes without express written consent of Landlord. 
 8. No birds or animals shall be brought into or kept in or about the Premises or any
other part of the Building, except animals used to assist impaired individuals. 

 EXHIBIT “E” 

OPTION TO RENEW 

Tenant shall have, and is hereby granted, one (1) option to renew and to extend the term of this Lease for a period of Five (5) years (the
“Renewal Term”), such option to follow consecutively upon the expiration of the initial term of this Lease, provided that at the time such option to renew is exercised, this Lease shall be in full force and effect and Tenant shall not be
in default hereunder. Such option shall be exercised, if at all, by Tenant giving written notice of its intention to renew and extend the term of this Lease to Landlord at least six months before the Expiration Date of this Lease. Any assignment or
subletting by Tenant in violation or breach of Paragraph 9 of this Lease shall terminate all rights of renewal and extension set forth herein. The renewal, if elected by Tenant, shall unless otherwise mutually agreed in writing be under all of the
terms and conditions of this Lease except Basic Rental (below provided) which will be changed in an amount corresponding to the new Basic Rental, and except that no further renewal option shall exist. 

Commencing with the first (1st) day of the first (1st) calendar month for the Renewal term, the applicable Basic Annual Rental for each
calendar month for the Renewal Term shall be adjusted so that it is equal to the mutually agreed prevailing market rate per annum for comparable space available in buildings of a quality similar to the Building within reasonable proximity thereto at
such time. Landlord and Tenant shall, after reviewing market conditions, mutually agree on the Basic Annual Rental to be charged for the Renewal Term and any other incentives or terms related thereto. 

 EXHIBIT “F” 

RIGHT OF FIRST REFUSAL OPTION 
 1. The Tenant is hereby granted a continuing right of first refusal (the “ROFR”) to lease the approximately 14,875 square feet of contiguous space to the south of the Premises also known as
Suite 300 (hereinafter sometimes called the “ROFR Space”) as such space is available. 
 2. Tenant may exercise a ROFR only if, at the
time of such exercise and at the time of Landlord’s delivery of the ROFR Space to Tenant, (a) no uncured material event of default exists and (b) Tenant (together with any permitted assignees per Paragraph 9) are occupying the
Premises. If such condition(s) are not satisfied or waived by Landlord, any purported exercise of the ROFR shall be null and void. No assignee of Tenant (other than an assignee pursuant to Paragraph 9 of the Lease), or sub lessee of the Premises,
may exercise a ROFR unless otherwise agreed to in writing by Landlord. 
 3. If Landlord receives a bona-fide written third-party offer to lease
the ROFR Space that Landlord desires to accept, Landlord will contemporaneously submit a proposal to Tenant upon the same terms of this offer (a “Refusal Lease Proposal”) setting forth, the effective rental rate, tenant improvement
allowance, lease term, parking ratios and rates, any free rent, rights and first refusal and expansion rights that are contained in the written third-party offer. Tenant shall have a period of ten (10) business days after receipt of a Refusal
Lease Proposal to irrevocably and unconditionally exercise its ROFR to lease the applicable ROFR Space upon the terms of the Refusal Lease Proposal by written notice to Landlord; provided that such is added to this Lease by mutually agreed amendment
as discussed herein. If Tenant does not exercise a ROFR within such ten (10) business day period, the ROFR shall be waived with respect to such space. Upon Tenant’s exercise of a ROFR, Landlord and Tenant shall promptly execute an
amendment to this Lease evidencing same. 
 4. If Landlord does not receive written notice from Tenant of its exercise of the ROFR within said
ten (10) business day period, Landlord may proceed to lease the applicable ROFR Space to the third party offeror referred to in paragraph 3, above. If Landlord does not lease such ROFR Space to third party offeror, Tenant shall have a ROFR on
any subsequent leasing thereof on the terms set forth above. 
 5. In addition to the Right of First Refusal Option above, Landlord hereby
grants Tenant the option to lease the 14,875 SF at any time prior to April 1, 2014 at the Annual Basic Rental of $8.34 psf plus Additional Rent as defined herein; the term of such Lease shall be for the remainder of the term of this Lease.
Landlord shall provide, based upon mutually acceptable plans, an allowance of $112,264.00 to be utilized within the 14,875 SF space.EX-10.26

 Exhibit 10.26 
 SENIOR LOAN AND SECURITY AGREEMENT 
 THIS SENIOR LOAN AND SECURITY
AGREEMENT (this “Agreement”) dated as of October 18, 2012 (the “Effective Date”) by and among (i) SILICON VALLEY BANK, a California corporation with a loan production office located at 14185
Dallas Parkway, Suite 760, Dallas TX 75254 (“Bank”), (ii) MAVENIR SYSTEMS, INC., a Delaware corporation (“Mavenir”) and (iii) MAVENIR HOLDINGS, INC., a Delaware corporation,
(“Holdings”, and together with Mavenir, individually and collectively, jointly and severally, the “Borrower”) each with offices located at 1651 North Glenville Drive, Suite 216, Richardson, Texas 75081, provides the
terms on which Bank shall lend to Borrower and Borrower shall repay Bank. The parties agree as follows: 
 1
ACCOUNTING AND OTHER TERMS 
 Accounting terms not defined in this Agreement shall be construed following GAAP.
Calculations and determinations must be made following GAAP. Capitalized terms not otherwise defined in this Agreement shall have the meanings set forth in Section 13. All other terms contained in this Agreement, unless otherwise indicated,
shall have the meaning provided by the Code to the extent such terms are defined therein. 
 2 LOAN AND TERMS OF
PAYMENT 
 2.1 Promise to Pay. Borrower hereby unconditionally promises to pay Bank the outstanding principal
amount of all Credit Extensions and accrued and unpaid interest thereon as and when due in accordance with this Agreement. 

2.1.1 Revolving Advances. 
 (a) Availability. Subject to the terms and conditions of this Agreement and to deduction of Reserves, Bank shall make Advances not exceeding the Availability Amount. Amounts borrowed under the
Revolving Line may be repaid, and prior to the Revolving Line Maturity Date, reborrowed, subject to the applicable terms and conditions precedent herein. 
 (b) Termination; Repayment. The Revolving Line terminates on the Revolving Line Maturity Date, when the principal amount of all Advances, the unpaid interest thereon, and all other Obligations
relating to the Revolving Line shall be immediately due and payable. The Revolving Line may be prepaid at any time in full or in part without prepayment premium or penalty. 
 2.1.2 Non-formula Revolving Advances. 
 (a) Availability. Subject to
the terms and conditions of this Agreement, Bank shall make Non-formula Advances not exceeding the Non-formula Availability Amount. Amounts borrowed under the Non-formula Revolving Line may be repaid, and prior to the Non-formula Revolving Line
Maturity Date, reborrowed, subject to the applicable terms and conditions precedent herein. 
 (b) Termination;
Repayment. The Non-formula Revolving Line terminates on the Non-formula Revolving Line Maturity Date, when the principal amount of all Non-formula Advances, the unpaid interest thereon, and all other Obligations relating to the Non-formula
Revolving Line shall be immediately due and payable. The Non-formula Revolving Line may be prepaid at any time in full or in part without prepayment premium or penalty. 
 2.1.3 Letters of Credit. 
 (a) Bank shall issue or have issued Letters of
Credit denominated in Dollars or a Foreign Currency for Borrower’s account. The aggregate Dollar Equivalent of the face amount of outstanding Letters of Credit (including drawn but unreimbursed Letters of Credit and any Letter of Credit
Reserve) may not exceed Two Million Five Hundred Thousand Dollars ($2,500,000.00), minus (i) the sum of all amounts used for Cash Management Services, and minus (ii) the FX Reduction Amount. 

 (b) If, on the later of the Non-formula Revolving Line Maturity Date or Revolving Line
Maturity Date (or the effective date of any termination of this Agreement), there are any outstanding Letters of Credit, then on such date Borrower shall provide to Bank cash collateral in an amount equal to 105% (110% for Letters of Credit
denominated in a currency other than Dollars) of the Dollar Equivalent of the face amount of all such Letters of Credit plus all interest, fees, and costs due or to become due in connection therewith (as estimated by Bank in its good faith business
judgment), to secure all of the Obligations relating to such Letters of Credit. All Letters of Credit shall be in form and substance acceptable to Bank in its sole discretion and shall be subject to the terms and conditions of Bank’s standard
Application and Letter of Credit Agreement (the “Letter of Credit Application”). Borrower agrees to execute any further documentation in connection with the Letters of Credit as Bank may reasonably request. Borrower further agrees
to be bound by the regulations and interpretations of the issuer of any Letters of Credit guarantied by Bank and opened for Borrower’s account or by Bank’s interpretations of any Letter of Credit issued by Bank for Borrower’s account,
and Borrower understands and agrees that Bank shall not be liable for any error, negligence, or mistake, whether of omission or commission, in following Borrower’s instructions or those contained in the Letters of Credit or any modifications,
amendments, or supplements thereto. 
 (c) The obligation of Borrower to immediately reimburse Bank for drawings made under
Letters of Credit shall be absolute, unconditional, and irrevocable, and shall be performed strictly in accordance with the terms of this Agreement, such Letters of Credit, and the Letter of Credit Application. 

(d) Borrower may request that Bank issue a Letter of Credit payable in a Foreign Currency. If a demand for payment is made under any such
Letter of Credit, Bank shall treat such demand as an Advance to Borrower of the Dollar Equivalent of the amount thereof (plus fees and charges in connection therewith such as wire, cable, SWIFT or similar charges). 

(e) To guard against fluctuations in currency exchange rates, upon the issuance of any Letter of Credit payable in a Foreign Currency,
Bank shall create a reserve (the “Letter of Credit Reserve”) under the Revolving Line in an amount equal to ten percent (10%) of the face amount of such Letter of Credit. The amount of the Letter of Credit Reserve may be
adjusted by Bank from time to time to account for fluctuations in the exchange rate. The availability of funds under the Revolving Line shall be reduced by the amount of such Letter of Credit Reserve for as long as such Letter of Credit remains
outstanding. 
 2.1.4 Foreign Exchange. Borrower may enter into foreign exchange contracts with Bank under which Borrower
commits to purchase from or sell to Bank a specific amount of Foreign Currency (each, a “FX Forward Contract”) on a specified date (the “Settlement Date”). FX Forward Contracts shall have a Settlement Date of at
least one (1) FX Business Day after the contract date and shall be subject to a reserve of ten percent (10%) of each outstanding FX Forward Contract. The aggregate amount of FX Forward Contracts at any one time may not exceed ten
(10) times Two Million Five Hundred Thousand Dollars ($2,500,000.00) minus (i) the sum of all amounts used for Cash Management Services, and minus (ii) the Dollar Equivalent of the face amount of any outstanding Letters
of Credit (including drawn but unreimbursed Letters of Credit and any Letter of Credit Reserve). The amount otherwise available shall be reduced by an amount equal to ten percent (10%) of each outstanding FX Forward Contract (the “FX
Reduction Amount”). Any amounts needed to fully reimburse Bank for any amounts not paid by Borrower in connection with FX Forward Contracts will accrue interest at the greater of (i) the interest rate applicable to Advances and
(ii) the interest rate applicable to Non-formula Advances. 
 2.1.5 Cash Management Services. Borrower may use an
aggregate amount not to exceed Two Million Five Hundred Thousand Dollars ($2,500,000.00) minus (i) the Dollar Equivalent of the face amount of any outstanding Letters of Credit (including drawn but unreimbursed Letters of Credit and any
Letter of Credit Reserve), and minus (ii) the FX Reduction Amount for Bank’s cash management services, which may include merchant services, direct deposit of payroll, business credit card, and check cashing services identified in
Bank’s various cash management services agreements (collectively, the “Cash Management Services”). Any amounts Bank pays on behalf of Borrower for any Cash Management Services will accrue interest at the greater of (i) the
interest rate applicable to Advances and (ii) the interest rate applicable to Non-formula Advances. 
 2.2
Overadvances. If, at any time, (i) the outstanding principal amount of any Advances exceeds the lesser of either the Revolving Line or the Borrowing Base or (ii) the outstanding principal amount of any Non-Formula Advances exceeds the
Non-formula Revolving Line or (iii) the sum of (A) the outstanding principal amount of any Cash Management Services, plus (B) the face amount of any outstanding Letters of Credit (including drawn but unreimbursed Letters of
Credit and any Letter of Credit Reserve), plus (C) the FX Reduction Amount exceeds Two Million Five Hundred Thousand Dollars ($2,500,000.00) (any such excess amounts referred to in clauses (i), (ii) or (iii) being an
“Overadvance”), Borrower shall, not later than one (1) Business Day, pay to Bank in cash such Overadvance. Without limiting Borrower’s obligation to repay Bank any amount of the Overadvance, Borrower agrees to pay Bank interest
on the outstanding amount of any Overadvance, on demand, at the Default Rate. 

  
 -2-

 2.3 Payment of Interest on the Credit Extensions. 

(a) Interest Rate. 
 (i) Advances. Subject to Section 2.3(b), the principal amount outstanding under the Revolving Line shall accrue interest at a floating per annum rate equal to the greater of the (i) Prime
Rate plus one percent (1.00%) and (ii) four and one-quarter percent (4.25%), which interest shall be payable monthly, in arrears, in accordance with Section 2.3(f) below. 

(ii) Non-Formula Advances. Subject to Section 2.3(b), the principal amount outstanding under the Non-formula Revolving Line
shall accrue interest at a floating per annum rate equal to the greater of the (i) Prime Rate plus one percent (1.00%) and (ii) four and one-quarter percent (4.25%), which interest shall be payable monthly, in arrears, in
accordance with Section 2.3(f) below. 
 (b) Default Rate. Immediately upon the occurrence and during the
continuance of an Event of Default, Obligations shall bear interest at a rate per annum which is five percentage points (5.00%) above the rate that is otherwise applicable thereto (the “Default Rate”) unless Bank otherwise
elects from time to time in its sole discretion to impose a smaller increase. Fees and expenses which are required to be paid by Borrower pursuant to the Loan Documents (including, without limitation, Bank Expenses) but are not paid when due shall
bear interest until paid at a rate equal to the highest rate applicable to the Obligations. Payment or acceptance of the increased interest rate provided in this Section 2.3(b) is not a permitted alternative to timely payment and shall not
constitute a waiver of any Event of Default or otherwise prejudice or limit any rights or remedies of Bank. 
 (c) Adjustment
to Interest Rate. Changes to the interest rate of any Credit Extension based on changes to the Prime Rate shall be effective on the effective date of any change to the Prime Rate and to the extent of any such change. 

(d) Computation; 360-Day Year. In computing interest, the date of the making of any Credit Extension shall be included and the
date of payment shall be excluded; provided, however, that if any Credit Extension is repaid on the same day on which it is made, such day shall be included in computing interest on such Credit Extension. Interest shall be computed on
the basis of a 360-day year for the actual number of days elapsed. 
 (e) Debit of Accounts. Bank may debit any of
Borrower’s deposit accounts, including the Designated Deposit Account, for principal and interest payments or any other amounts Borrower owes Bank under the Loan Documents when due. These debits shall not constitute a set-off. 

(f) Payment; Interest Computation. Interest is payable monthly, in arrears, on the first calendar day of each month. In computing
interest on the Obligations, all Payments received after 12:00 noon Pacific time on any day shall be deemed received on the next Business Day. Bank shall not, however, be required to credit Borrower’s account for the amount of any item of
payment which is unsatisfactory to Bank in its good faith business judgment, and Bank may charge Borrower’s Designated Deposit Account for the amount of any item of payment which is returned to Bank unpaid. 

2.4 Fees. Borrower shall pay to Bank: 
 (a) Commitment Fee. A fully earned, non-refundable commitment fee of Seventy-Five Thousand Dollars ($75,000.00), payable on the Effective Date (which, for the avoidance of doubt, shall be in
addition to any fees payable under the Subordinated Loan Agreement); 
 (b) Good Faith Deposit. Borrower has paid to Bank
a deposit of Twenty-Five Thousand Dollars ($25,000.00) (the “Good Faith Deposit”) to initiate Bank’s due diligence review process, which Good Faith Deposit net of Bank Expenses will be applied to the commitment fee referenced
in Section 2.4(a) herein on the Effective Date. 

  
 -3-

 (c) Letter of Credit Fee. Bank’s customary fees and expenses for the issuance or
renewal of Letters of Credit, including, without limitation, a letter of credit fee of one and one-half percent (1.50%) per annum of the Dollar Equivalent of the face amount of each Letter of Credit issued, upon the issuance of such Letter of
Credit, each anniversary of the issuance during the term of such Letter of Credit, and upon the renewal of such Letter of Credit by Bank; 
 (d) Unused Facility Fee. A fee (the “Unused Facility Fee”), payable monthly, in arrears, on a calendar year basis, in an amount equal to one-quarter of one percent (0.25%) per
annum of the sum of (i) the average unused portion of the Revolving Line plus (ii) the average unused portion of the Non-formula Revolving Line plus (iii) the average unused portion of the Bank Services Facility. The
unused portion of the Revolving Line, for purposes of this calculation, shall equal the difference between (x) the Revolving Line amount (as it may be reduced from time to time, including by any Reserves) and (y) the average for the period
of the daily closing balance of the Revolving Line outstanding. The unused portion of the Non-formula Revolving Line, for purposes of this calculation, shall equal the difference between (x) the Non-formula Revolving Line amount (as it may be
reduced from time to time) and (y) the average for the period of the daily closing balance of the Non-formula Revolving Line outstanding. The unused portion of the Bank Services Facility for such calculation shall equal the difference between
(x) Two Million Five Hundred Thousand Dollars ($2,500,000.00) (as it may be reduced from time to time) and (y) (i) the average Dollar amount for the period of the daily closing amount of issued Letters of Credit (whether or not drawn)
plus (ii) the average daily closing balance of the FX Reduction Amount plus (iii) the average daily closing balance of all amounts used for Cash Management Services. Borrower shall not be entitled to any credit, rebate or
repayment of any Unused Facility Fee previously earned by Bank pursuant to this Section notwithstanding any termination of the Agreement or the suspension or termination of Bank’s obligation to make loans and advances or issue Letters of Credit
hereunder; and 
 (e) Bank Expenses. All Bank Expenses (including reasonable attorneys’ fees and expenses for
documentation and negotiation of this Agreement, the Subordinated Loan Agreement and any other Loan Documents) incurred through and after the Effective Date, when due. 
 2.5 Payments; Application of Payments. 
 (a) All payments (including
prepayments) to be made by Borrower under any Loan Document shall be made in immediately available funds in Dollars, without setoff or counterclaim, before 12:00 noon Pacific time on the date when due. Payments of principal and/or interest received
after 12:00 noon 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. 
 (b) Subject to Section 6.3(c), Bank shall apply the whole or any part
of collected funds against amounts then due under the Revolving Line with any surplus collected funds being credited to a depository account of Borrower with Bank (or an account of Borrower maintained by an Affiliate of Bank), the order and method
of such application shall be in the sole discretion of Bank. 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 when any such allocation or application is not specified elsewhere in this Agreement. 
 3 CONDITIONS
OF LOANS 
 3.1 Conditions Precedent to Initial Credit Extension. Bank’s obligation to make the initial
Credit Extension is subject to the condition precedent that Bank shall have received, in form and substance satisfactory to Bank, such documents, and completion of such other matters, as Bank may reasonably deem necessary or appropriate, including,
without limitation: 
 (a) delivery of the Subordinated Loan Agreement and satisfaction of all conditions precedent thereto;

 (b) duly executed original signature pages to the Loan Documents; 

  
 -4-

 (c) Operating Documents for each Borrower and long-form good standing certificates certified
by the proper authority for each jurisdiction in which each Borrower is incorporated, organized or is otherwise authorized to do business as a foreign entity (as required by Bank), as of a date no earlier than thirty (30) days prior to the
Effective Date; 
 (d) duly executed original signature pages to the Secretary’s Certificate of each Borrower with
completed Borrowing Resolutions for each Borrower; 
 (e) duly executed original signature pages to the Canadian Guaranty,
together with Secretary’s Certificate and completed Borrowing Resolutions for Canadian Guarantor; 
 (f) duly executed
signature to a payoff letter from Comerica Bank, N.A. (“Prior Lender”), identifying the amount required to be paid to Prior Lender to fully satisfy outstanding obligations owed by the Borrower to Prior Lender as of the date of the
initial Credit Extension; 
 (g) evidence that (i) the Liens securing Indebtedness owed by the Borrower to Prior Lender
will be terminated and (ii) the documents and/or filings evidencing the perfection of such Liens, including without limitation any financing statements and/or control agreements, have or will, concurrently with or promptly following the initial
Credit Extension, be terminated; 
 (h) certified copies, dated as of a recent date, of financing statement searches, as Bank
shall request, accompanied by written evidence (including any UCC termination statements) that the Liens indicated in any such financing statements either constitute Permitted Liens or have been or, in connection with the initial Credit Extension,
will be terminated or released; 
 (i) the Perfection Certificate of each Borrower and Guarantor, together with the duly
executed original signature pages thereto; 
 (j) a bailee’s/warehouseman’s waiver executed by each bailee, if any, of
Borrower as required by Bank, in favor of Bank; 
 (k) a legal opinion of Borrower’s counsel, in form and substance
acceptable to Bank, in its reasonable discretion, dated as of the Effective Date, together with the duly executed original signature pages thereto; 
 (l) legal opinion of Borrower’s Canadian counsel in respect of Canadian Guarantor, in form and substance acceptable to Bank, dated as of the Effective Date, together with the duly executed signatures
thereto; 
 (m) evidence satisfactory to Bank that the insurance policies required by Section 6.7 hereof are in full force
and effect, together with appropriate evidence showing lender loss payable and/or additional insured clauses and cancellation notice to Bank (or endorsements reflecting the same) in favor of Bank; and 

(n) payment of the fees and Bank Expenses then due as specified in Section 2.4 hereof. 

3.2 Conditions Precedent to all Credit Extensions. Bank’s obligation to make each Credit Extension, including the initial
Credit Extension, is subject to the following conditions precedent: 
 (a) timely receipt of an executed Transaction Report (with
respect to the Revolving Line) and/or Payment Advance Form (with respect to the Non-formula Revolving Line); 
 (b) the
representations and warranties in Section 5 of this Agreement shall be true, accurate, and complete in all material respects on the date of the Transaction Report and/or Payment/Advance Form and on the Funding Date of each Credit Extension;
provided, however, that such materiality qualifier shall not be applicable to any representations and warranties that already are qualified or modified by materiality in the text thereof; and provided, further that those
representations and warranties expressly referring to a specific date shall be true, accurate and complete in all material respects as of such date, and no Default or Event of Default shall have occurred and be continuing or result from the Credit
Extension. Each Credit Extension is Borrower’s representation and warranty on that date that the representations and warranties in Section 5 of this Agreement remain true, 

  
 -5-

 
accurate, and complete in all material respects; provided, however, that such materiality qualifier shall not be applicable to any representations and warranties that already are
qualified or modified by materiality in the text thereof; and provided, further that those representations and warranties expressly referring to a specific date shall be true, accurate and complete in all material respects as of such date;
and 
 (c) in Bank’s sole discretion, there has not been any material impairment in the general affairs, management,
results of operation, financial condition or the prospect of repayment of the Obligations, or any material adverse deviation by Borrower from the most recent business plan of Borrower presented to and accepted by Bank. 

3.3 Covenant to Deliver. Borrower agrees to deliver to Bank each item required to be delivered to Bank under this Agreement as a
condition precedent to any Credit Extension. Borrower expressly agrees that a Credit Extension made prior to the receipt by Bank of any such item shall not constitute a waiver by Bank of Borrower’s obligation to deliver such item, and the
making of any Credit Extension in the absence of a required item shall be in Bank’s sole discretion. 
 3.4 Procedures
for Borrowing. 
 (a) Advances; Non-formula Advances. Subject to the prior satisfaction of all other applicable
conditions to the making of an Advance or a Non-formula Advance, each as set forth in this Agreement, to obtain an Advance or Non-formula Advance, Borrower shall notify Bank (which notice shall be irrevocable) by electronic mail, facsimile, or
telephone by 12:00 noon Pacific time on the Funding Date of the Advance or Non-formula Advance, as applicable. Together with any such electronic or facsimile notification, Borrower shall deliver to Bank by electronic mail or facsimile a completed
Transaction Report (with respect to Advances) or a Payment/Advance Form (with respect to any Non-formula Advance) executed by a Responsible Officer or his or her designee. Bank may rely on any telephone notice given by a person whom Bank believes is
a Responsible Officer or designee. Bank shall credit Advances and Non-formula Advances to the Designated Deposit Account. Bank may make Advances and Non-formula Advances under this Agreement based on instructions from a Responsible Officer or his or
her designee or without instructions if the Advances are necessary to meet Obligations which have become due. 
 (b) Letters
of Credit. Subject to the prior satisfaction of all other applicable conditions to the issuance of Letters of Credit set forth in this Agreement, to request the Bank to issue a Letter of Credit, Borrower shall deliver an executed Letter of
Credit Application, which, once received, shall be irrevocable. Bank may issue Letters of Credit under this Agreement based on instructions from a Responsible Officer or his or her designee. Bank may rely on any telephone notice/requests for the
issuance of a Letter of Credit given by a person whom Bank believes is a Responsible Officer or designee. 
 (c) FX Forward
Contracts; Cash Management Services. Subject to the prior satisfaction of all other applicable conditions to the issuance of FX Forward Contracts or Cash Management Services set forth in this Agreement, to request the Bank to issue a FX Forward
Contract or any Cash Management Services, Borrower shall notify Bank (which notice shall be irrevocable) by electronic mail, facsimile, or telephone. Together with any such electronic or facsimile notification, Borrower shall deliver to Bank by
electronic mail or facsimile a completed Payment/Advance Form and the applicable foreign exchange forward contract (with respect to FX Forward Contracts) or bank services agreement (with respect to Cash Management Services) provided by Bank executed
by a Responsible Officer or his or her designee. Bank may issue FX Forward Contracts or Cash Management Services under this Agreement based on instructions from a Responsible Officer or his or her designee. Bank may rely on any telephone
notice/requests for the issuance of any FX Forward Contract or Cash Management Services given by a person whom Bank believes is a Responsible Officer or designee. 
 4 CREATION OF SECURITY INTEREST 
 4.1 Grant of Security
Interest. Borrower hereby grants Bank, to secure the payment and performance in full of all of the Obligations, a continuing security interest in, and pledges to Bank, the Collateral, wherever located, whether now owned or hereafter acquired or
arising, and all proceeds and products thereof. 

  
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 Regardless of the terms of any agreements related to the Bank Services Facility, Borrower
agrees that any amounts Borrower owes Bank thereunder shall be deemed to be Obligations hereunder and that it is the intent of Borrower and Bank to have all such Obligations secured by the first priority perfected security interest in the Collateral
granted herein (subject only to Permitted Liens that expressly or by operation of law have superior priority to Bank’s Lien in this Agreement). 
 If this Agreement is terminated, Bank’s Lien in the Collateral shall continue until the Obligations (other than inchoate indemnity obligations) are satisfied in full, and at such time, Bank shall, at
Borrower’s sole cost and expense, terminate its security interest in the Collateral and all rights therein shall revert to Borrower. In the event (a) all Obligations (other than inchoate indemnity obligations), except for any Obligations
with respect to the Bank Services Facility, are satisfied in full, and (b) this Agreement is terminated, Bank shall terminate the security interest granted herein upon Borrower providing cash collateral acceptable to Bank in its good faith
business judgment for any amounts outstanding under the Bank Services Facility, if any. In the event such amounts under the Bank Services Facility consist of outstanding letters of credit (other than letters of credit issued under the Letters of
Credit Facility), Borrower shall provide to Bank cash collateral in an amount equal to 105% (110% for letters of credit denominated in a currency other than Dollars), of the Dollar Equivalent of the face amount of all such letters of credit plus all
interest, fees, and costs due or to become due in connection therewith (as estimated by Bank in its good faith business judgment), to secure all of the Obligations relating to such letters of credit. 

4.2 Priority of Security Interest. Borrower represents, warrants, and covenants that the security interest granted herein and
shall at all times continue to be a first priority perfected security interest in the Collateral (subject only to Permitted Liens that expressly or by operation of law have superior priority to Bank’s Lien under this Agreement). If Borrower
shall acquire a commercial tort claim, Borrower shall promptly notify Bank in a writing signed by Borrower of the general details thereof and grant to Bank in such writing a security interest therein and in the proceeds thereof, all upon the terms
of this Agreement, with such writing to be in form and substance reasonably satisfactory to Bank. 
 4.3 Authorization to
File Financing Statements. Borrower hereby authorizes Bank to file financing statements, without notice to Borrower, with all appropriate jurisdictions to perfect or protect Bank’s interest or rights hereunder, including a notice that any
disposition of the Collateral, by either Borrower or any other Person, may be deemed to violate the rights of Bank under the Code. Such financing statements may indicate the Collateral as “all assets of the Debtor” or words of similar
effect, or as being of an equal or lesser scope, or with greater detail, all in Bank’s discretion. 
 4.4 Subsequent
Security. At any time following the Effective Date, the Bank may, in its sole discretion, require any Subsidiary to grant the Bank such further security interests over their present and future undertaking and assets as the Bank may require,
including for the avoidance of doubt, a fixed charge over all book and other debts and monetary claims due or owing or incurred to any Subsidiary, including all accounts with banks and the moneys deposited therein and interest accruing and arrears
and claims arising in respect of accounts, together with the full benefit of all guarantees and securities therefore and indemnities in respect thereof and all liens, reservations of title, rights of tracing and other rights enabling any Subsidiary
to enforce any such debts or claims. 
 5 REPRESENTATIONS AND WARRANTIES 

Borrower represents and warrants as follows: 
 5.1 Due Organization; Authorization; Power and Authority. Borrower and each of its Subsidiaries are duly existing and in good standing, as a Registered Organization in its jurisdiction of formation
and each is qualified and licensed to do business and each is in good standing in any jurisdiction in which the conduct of each 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 have a material adverse effect on Borrower’s business, taken as a whole. In connection with this Agreement, Borrower has delivered to Bank completed certificates signed by each Borrower and Guarantor, respectively,
entitled “Perfection Certificate”. Borrower represents and warrants to Bank that (a) Borrower’s exact legal name is that indicated on the Perfection Certificate and on the signature page hereof; (b) Borrower is an
organization of the type and is organized in the jurisdiction set forth in the Perfection Certificate; (c) the Perfection Certificate accurately sets forth Borrower’s organizational identification number or accurately states that Borrower
has none; (d) the Perfection Certificate accurately sets forth Borrower’s place of business, or, if more than one, its chief executive office as well as Borrower’s mailing address (if different than its chief executive office);
(e) except as set forth in the Perfection Certificate, Borrower (and each of its predecessors) has not, in the 

  
 -7-

 
five (5) years immediately preceding the Effective Date, changed its jurisdiction of formation, organizational structure or type, or any organizational number assigned by its jurisdiction;
and (f) all other information set forth on the Perfection Certificate pertaining to Borrower and each of its Subsidiaries is accurate and complete in all material respects (it being understood and agreed that Borrower may from time to time
update certain information in the Perfection Certificate after the Effective Date to the extent the event of change reflected in such updated Perfection Certificate is not prohibited by one or more specific provisions in this Agreement, and upon
written notification by Borrower to Bank of such event or change, the Perfection Certificate shall be deemed to have been updated to include such information). If Borrower is not now a Registered Organization but later becomes one, Borrower shall
promptly notify Bank of such occurrence and provide Bank with Borrower’s organizational identification number. 
 The
execution, delivery and performance by Borrower of the Loan Documents to which it is a party have been duly authorized, and do not (i) conflict with any of Borrower’s organizational documents, (ii) contravene, conflict with,
constitute a default under or violate any material Requirement of Law, (iii) contravene, conflict or violate any applicable material order, writ, judgment, injunction, decree, determination or award of any Governmental Authority by which
Borrower or any of its Subsidiaries or any of their property or assets may be bound or affected, (iv) require any action by, filing, registration, or qualification with, or Governmental Approval from, any Governmental Authority (except such
Governmental Approvals which have already been obtained and are in full force and effect or (v) constitute an event of default under any material agreement by which Borrower is bound. Borrower is not in default under any agreement to which it
is a party or by which it is bound in which the default could reasonably be expected to have a material adverse effect on Borrower’s business, taken as a whole. 
 5.2 Collateral. Borrower has good title to, has rights in, and the power to transfer each item of the Collateral upon which it purports to grant a Lien hereunder, free and clear of any and all
Liens except Permitted Liens. Borrower has no deposit accounts other than the deposit accounts with Bank, the deposit accounts, if any described in the Perfection Certificate delivered to Bank in connection herewith, or of which Borrower has given
Bank notice and taken such actions as are necessary to give Bank a perfected security interest therein. The Accounts are bona fide, existing obligations of the Account Debtors. 

The Collateral is not in the possession of any third party bailee (such as a warehouse) except as otherwise provided in the Perfection
Certificate. None of the components of the Collateral shall be maintained at locations other than as provided in the Perfection Certificate or as permitted pursuant to Section 7.2. In the event that Borrower, after the date hereof, intends to
store or otherwise deliver any portion of the Collateral with an aggregate value in excess of $50,000 to a bailee, and such bailee and Bank are not already parties to a bailee agreement covering both the Collateral and the location where the
Collateral will be stored, then Borrower will first receive the written consent of Bank and such bailee must execute and deliver a bailee agreement in form and substance satisfactory to Bank in its sole discretion. The provisions of this paragraph
shall not apply to Demonstration Systems delivered to Borrower’s customers or prospective customers in the ordinary course of business. 
 All Inventory is in all material respects of good and marketable quality, free from material defects. 
 Borrower is the sole owner of the Intellectual Property which it owns or purports to own except for (a) non-exclusive licenses granted to its customers in the ordinary course of business,
(b) over-the-counter software that is commercially available to the public, and (c) material Intellectual Property licensed to Borrower and noted on the Perfection Certificate. Each Patent which it owns or purports to own and which is
material to Borrower’s business, taken as a whole, is valid and enforceable, and no part of the Intellectual Property which Borrower owns or purports to own and which is material to Borrower’s business, taken as a whole, has been judged
invalid or unenforceable, in whole or in part. To the best of Borrower’s knowledge, no claim has been made that any part of the Intellectual Property violates the rights of any third party except to the extent such claim would not have a
material adverse effect on Borrower’s business, taken as a whole. 
 Except as noted on the Perfection Certificate,
Borrower is not a party to, nor is it bound by, any Restricted License. 
 5.3 Accounts Receivable. For any Eligible
Account in any Borrowing Base Certificate, all statements made and all unpaid balances appearing in all invoices, instruments and other documents evidencing such Eligible Accounts are and shall be true and correct and all such invoices, instruments
and other documents, and all of Borrower’s Books are genuine and in all respects what they purport to be. Whether or not an Event of Default 

  
 -8-

 
has occurred and is continuing, Bank may notify any Account Debtor owing Borrower money of Bank’s security interest in such funds and verify the amount of such Eligible Account. All sales
and other transactions underlying or giving rise to each Eligible Account shall comply in all material respects with all applicable laws and governmental rules and regulations. Borrower has no knowledge of any actual or imminent Insolvency
Proceeding of any Account Debtor whose accounts are Eligible Accounts in any Borrowing Base Certificate. To the best of Borrower’s knowledge, all signatures and endorsements on all documents, instruments, and agreements relating to all Eligible
Accounts are genuine, and all such documents, instruments and agreements are legally enforceable in accordance with their terms, subject to bankruptcy, insolvency and other similar laws and general equitable principles. 

5.4 Litigation. Except for those actions or proceedings disclosed to Bank in writing, there are no actions or proceedings pending
or, to the knowledge of the Responsible Officers, threatened in writing by or against Borrower or any of its Subsidiaries involving more than, individually or in the aggregate, Two Hundred Fifty Thousand Dollars ($250,000.00). 

5.5 Financial Condition. All consolidated financial statements for Borrower and any of its Subsidiaries delivered to Bank fairly
present in all material respects Borrower’s consolidated financial condition and Borrower’s consolidated results of operations. There has not been any material deterioration in Borrower’s consolidated financial condition since the
date of the most recent financial statements submitted to Bank. 
 5.6 Solvency. The fair salable value of
Borrower’s assets (including goodwill minus disposition costs) exceeds the fair value of its liabilities; Borrower is not left with unreasonably small capital after the transactions in this Agreement; and Borrower is able to pay its debts
(including trade debts) as they mature. 
 5.7 Regulatory Compliance. 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. Neither Borrower nor any of its Subsidiaries is a “holding company” or an “affiliate” of
a “holding company” or a “subsidiary company” of a “holding company” as each term is defined and used in the Public Utility Holding Company Act of 2005. Borrower has not violated any laws, ordinances or rules, the
violation of which could reasonably be expected to have a material adverse effect on Borrower’s business, taken as a whole. None of Borrower’s or any of its Subsidiaries’ 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 of its Subsidiaries have obtained all consents,
approvals and authorizations of, made all declarations or filings with, and given all notices to, all Governmental Authorities that are necessary to continue their respective businesses as currently conducted. 

5.8 Subsidiaries; Investments. Borrower does not own any stock, partnership interest or other equity securities except for
Permitted Investments. 
 5.9 Tax Returns and Payments; Pension Contributions. Borrower has timely filed all required tax
returns and reports, and Borrower has timely paid all foreign, federal, state and local taxes, assessments, deposits and contributions owed by Borrower. Borrower may defer payment of any contested taxes, provided that Borrower (a) in good faith
contests its obligation to pay the taxes by appropriate proceedings promptly and diligently instituted and conducted, (b) notifies Bank in writing of the commencement of, and any material development in, the proceedings, (c) posts bonds or
takes any other steps required to prevent the Governmental Authority levying such contested taxes from obtaining a Lien upon any of the Collateral that is other than a “Permitted Lien”. Borrower is unaware of any claims or adjustments
proposed for any of Borrower’s prior tax years which could result in additional taxes becoming due and payable by Borrower. Borrower has paid all amounts necessary to fund all present pension, profit sharing and deferred compensation plans in
accordance with their terms, and Borrower has not withdrawn from participation in, and has not permitted partial or complete termination of, or permitted the occurrence of any other event with respect to, any such plan which could reasonably be
expected to result in any liability of Borrower, including any liability to the Pension Benefit Guaranty Corporation or its successors or any other governmental agency. 
 5.10 Use of Proceeds. Borrower shall use the proceeds of the Credit Extensions as working capital and to fund its general business requirements and not for personal, family, household or
agricultural purposes. 

  
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 5.11 Full Disclosure. No written representation, warranty or other statement of
Borrower in any certificate or written statement given to Bank, as of the date such representation, warranty, or other statement was made, taken together with all such written certificates and written statements given to Bank, contains any untrue
statement of a material fact or omits to state a material fact necessary to make the statements contained in the certificates or statements not misleading (it being recognized by Bank that the projections and forecasts provided by Borrower in good
faith and based upon reasonable assumptions are not viewed as facts and that actual results during the period or periods covered by such projections and forecasts may differ from the projected or forecasted results). 

5.12 Definition of “Knowledge.” For purposes of the Loan Documents, whenever a representation or warranty is made to
Borrower’s knowledge or awareness, to the “best of” Borrower’s knowledge, or with a similar qualification, knowledge or awareness means the actual knowledge, after reasonable investigation, of the Responsible Officers.

 5.13 Designated Senior Indebtedness. The Loan Documents and all of the Obligations shall be deemed “Designated
Senior Indebtedness” or a similar concept thereof for purposes of any Indebtedness of the Borrower. 
 6 AFFIRMATIVE
COVENANTS 
 Borrower shall do all of the following: 

6.1 Government Compliance. (a) Maintain its and all its Subsidiaries’ legal existence and good standing in their
respective jurisdictions of formation and maintain qualification in each jurisdiction in which the failure to so qualify would reasonably be expected to have a material adverse effect on Borrower’s business or operations, taken as a whole.
Borrower shall comply, and have each Subsidiary comply, with all laws, ordinances and regulations to which it is subject, the noncompliance with which could have a material adverse effect on Borrower’s business, taken as a whole. 

(b) Obtain all of the Governmental Approvals necessary for the performance by Borrower of its obligations under the Loan Documents to
which it is a party and the grant of a security interest to Bank in all of its property. Borrower, upon Bank’s request, shall promptly provide copies of any such obtained Governmental Approvals to Bank. 

6.2 Financial Statements, Reports, Certificates. 
 (a) Borrower shall provide Bank with the following: 
 (i) (A) weekly, and
(B) upon each request for a Credit Extension, a Transaction Report; 
 (ii) within twenty (20) days after the
end of each month, (A) monthly accounts receivable agings, aged by invoice date, (B) monthly accounts payable agings, aged by invoice date, and outstanding or held check registers, if any, and (C) monthly reconciliations of accounts
receivable agings (aged by invoice date), transaction reports, Deferred Revenue report and general ledger; 
 (iii) as
soon as available, and in any event within thirty (30) days after the end of each month, monthly unaudited financial statements including balance sheet, income statement and statement of cash flows; 

(iv) within thirty (30) days after the end of each month a monthly Compliance Certificate signed by a Responsible Officer,
certifying that as of the end of such month, Borrower was in full compliance with all of the terms and conditions of this Agreement, and setting forth calculations showing compliance with the financial covenants set forth in this Agreement and such
other information as Bank shall reasonably request, including, without limitation, a statement that at the end of such month there were no held checks; 
 (v) no later than the earlier to occur of (i) fifteen (15) days following approval by Borrower’s board of directors and (ii) January 31st of each fiscal year, (A) annual operating budgets (including
income statements, balance sheets and cash flow statements, by month) for the upcoming fiscal year of Borrower, and (B) annual financial projections for the following fiscal year (on a quarterly basis) as approved by Borrower’s board of
directors, together with any related business forecasts used in the preparation of such annual financial projections; 

  
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 (vi) as soon as available, and in any event within one hundred fifty (150) days
following the end of Borrower’s fiscal year, annual audited financial statements certified by, and with an unqualified opinion of, independent certified public accountants acceptable to Bank; 

(vii) within five (5) days of delivery, copies of all statements, reports and notices made available to Borrower’s security
holders or to any holders of Subordinated Debt; 
 (viii) a prompt report of any legal actions pending or threatened in writing
against Borrower or any of its Subsidiaries that could result in damages or costs to Borrower or any of its Subsidiaries of, individually or in the aggregate, Two Hundred Fifty Thousand Dollars ($250,000.00) or more; 

Notwithstanding the foregoing, during a Streamline Period, provided no Event of Default has occurred and is continuing, Borrower shall be
required to provide Bank with the reports and schedules required pursuant to clause (a)(i)(A) above monthly, within twenty (20) days after the end of each month. 
 (b) In the event that Borrower is or becomes subject to the reporting requirements under the Securities Exchange Act of 1934, as amended, within five (5) days after filing, all reports on Form 10-K,
10-Q and 8-K filed with the SEC or a link thereto on Borrower’s or another website on the Internet. 
 (c) Borrower shall
provide Bank with prompt written notice of (i) any material change in the composition of the Intellectual Property, (ii) the registration of any Copyright (including any subsequent ownership right of Borrower in or to any Copyright),
Patent or Trademark not previously disclosed to Bank, or (iii) Borrower’s knowledge of an event that materially adversely affects the value of the Intellectual Property. 

6.3 Accounts Receivable. 
 (a) Schedules and Documents Relating to Accounts. Borrower shall deliver to Bank transaction reports and schedules of collections, as provided in Section 6.2, on Bank’s standard
forms; provided, however, that Borrower’s failure to execute and deliver the same shall not affect or limit Bank’s Lien and other rights in all of Borrower’s Accounts, nor shall Bank’s failure to advance or lend
against a specific Account affect or limit Bank’s Lien and other rights therein. If requested by Bank, Borrower shall furnish Bank with copies (or, at Bank’s request, originals) of all contracts, orders, invoices, and other similar
documents, and all shipping instructions, delivery receipts, bills of lading, and other evidence of delivery, for any goods the sale or disposition of which gave rise to such Accounts. In addition, Borrower shall deliver to Bank, on its request, the
originals of all instruments, chattel paper, security agreements, guarantees and other documents and property evidencing or securing any Accounts, in the same form as received, with all necessary endorsements, and copies of all credit memos.

 (b) Disputes. Borrower shall promptly notify Bank of all disputes or claims relating to Accounts involving more than,
individually or in the aggregate, Fifty Thousand Dollars ($50,000.00). Borrower may forgive (completely or partially), compromise, or settle any Account for less than payment in full, or agree to do any of the foregoing so long as (i) Borrower
does so in good faith, in a commercially reasonable manner, in the ordinary course of business, in arm’s-length transactions, and reports the same to Bank in the regular reports provided to Bank; (ii) no Default or Event of Default has
occurred and is continuing; and (iii) after taking into account all such discounts, settlements and forgiveness, the total outstanding Advances will not exceed the Availability Amount. 

(c) Collection of Accounts. Borrower shall have the right to collect all Accounts, unless and until a Default or an Event of
Default has occurred and is continuing. All payments on, and proceeds of, Accounts shall be deposited directly by the applicable Account Debtor into a lockbox account, or such other “blocked account” as Bank may specify, pursuant to a
blocked account agreement in form and substance satisfactory to Bank in its sole discretion. Whether or not an Event of Default has occurred and is continuing, Borrower shall immediately deliver all payments on and proceeds of Accounts to an account
maintained with Bank to be applied (i) prior to an Event of Default, to the Revolving Line and Non-formula Revolving Line pursuant to the terms of 

  
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Section 2.5(b) hereof, and (ii) after the occurrence and during the continuance of an Event of Default, pursuant to the terms of Section 9.4 hereof; provided,
however, during a Streamline Period, such payments and proceeds shall be transferred to an account of Borrower maintained at Bank. 
 (d) Returns. Provided no Event of Default has occurred and is continuing, if any Account Debtor returns any Inventory to Borrower, Borrower shall promptly (i) determine the reason for
such return, (ii) issue a credit memorandum to the Account Debtor in the appropriate amount, and (iii) provide a copy of such credit memorandum to Bank, upon request from Bank. In the event any attempted return occurs after the
occurrence and during the continuance of any Event of Default, Borrower shall immediately notify Bank of the return of the Inventory. 
 (e) Verification. Bank may, from time to time, verify directly with the respective Account Debtors the validity, amount and other matters relating to the Accounts, either in the name of
Borrower or Bank or such other name as Bank may choose. 
 (f) No Liability. Bank shall not be responsible or
liable for any shortage or discrepancy in, damage to, or loss or destruction of, any goods, the sale or other disposition of which gives rise to an Account, or, after the occurrence and during the continuation of an Event of Default, for any error,
act, omission, or delay of any kind occurring in the settlement, failure to settle, collection or failure to collect any Account, or for settling any Account in good faith for less than the full amount thereof, nor shall Bank be deemed to be
responsible for any of Borrower’s obligations under any contract or agreement giving rise to an Account. Nothing herein shall, however, relieve Bank from liability for its own gross negligence or willful misconduct. 

6.4 Remittance of Proceeds. Except as otherwise provided in Section 6.3(c), deliver, in kind, all proceeds arising from the
disposition of any Collateral to Bank in the original form in which received by Borrower not later than the following Business Day after receipt by Borrower, to be applied to the Obligations (1) prior to an Event of Default, pursuant to the
terms of Section 2.5(b) hereof, and (2) after the occurrence and during the continuance of an Event of Default, pursuant to the terms of Section 9.4 hereof; provided that, if no Event of Default has occurred and is
continuing, Borrower shall not be obligated to remit to Bank the proceeds of the sale of surplus, worn out or obsolete Equipment disposed of by Borrower in good faith in an arm’s length transaction for an aggregate purchase price of Two Hundred
Thousand Dollars ($200,000) or less (for all such transactions in any fiscal year). Borrower agrees that it will maintain all proceeds of Collateral in an account maintained with Bank. Nothing in this Section limits the restrictions on
disposition of Collateral set forth elsewhere in this Agreement. 
 6.5 Taxes; Pensions. Timely file, and require each of
its Subsidiaries to timely file, all required tax returns and reports and timely pay, and require each of its Subsidiaries to timely pay, all foreign, federal, state and local taxes, assessments, deposits and contributions owed by Borrower and each
of its Subsidiaries, except for deferred payment of any taxes contested pursuant to the terms of Section 5.9 hereof, and shall deliver to Bank, on demand, appropriate certificates attesting to such payments, and pay all amounts necessary to
fund all present pension, profit sharing and deferred compensation plans in accordance with their terms. 
 6.6 Access to
Collateral; Books and Records. At reasonable times, on not less than five (5) Business Days’ notice (provided no notice is required if an Event of Default has occurred and is continuing), Bank, or its agents, shall have the right to
inspect the Collateral and the right to audit and copy Borrower’s Books. The foregoing inspections and audits shall be at Borrower’s expense, and the charge therefor shall be $850 per person per day (or such higher amount as shall
represent Bank’s then-current standard charge for the same), plus reasonable out-of-pocket expenses. In the event Borrower and Bank schedule an audit more than ten (10) days in advance, and Borrower cancels or seeks to reschedule the audit
with less than ten (10) days written notice to Bank, then (without limiting any of Bank’s rights or remedies), Borrower shall pay Bank a fee of $1,000 plus any out-of-pocket expenses incurred by Bank to compensate Bank for the anticipated
costs and expenses of the cancellation or rescheduling. 
 6.7 Insurance. Keep its business and the Collateral insured
for risks and in amounts standard for companies in Borrower’s industry and location and as Bank may reasonably request. Insurance policies shall be in a form, with companies, and in amounts that are satisfactory to Bank, in its reasonable
discretion. Bank hereby confirms that Borrower’s insurance in effect on the Effective Date is acceptable to Bank as of the Effective Date. All property policies shall have a lender’s loss payable endorsement showing Bank as a lender loss
payee and waive subrogation against Bank. All liability policies of Borrower shall show, or have endorsements showing, Bank as an additional insured. All policies (or their respective endorsements) shall provide that the insurer shall give Bank at

  
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least twenty (20) days’ notice before canceling, amending, or declining to renew its policy. At Bank’s request, Borrower shall deliver certified copies of policies and evidence of
all premium payments. Proceeds payable under any policy shall, at Bank’s option, be payable to Bank on account of the Obligations. Notwithstanding the foregoing, (a) so long as no Event of Default has occurred and is continuing, Borrower
shall have the option of applying the proceeds of any casualty policy up to Two Hundred Fifty Thousand Dollars ($250,000.00) with respect to any loss, but not exceeding Two Hundred Fifty Thousand Dollars ($250,000.00) in the aggregate for all losses
under all casualty policies in any one fiscal year, toward the replacement or repair of destroyed or damaged property; provided, that any such replaced or repaired property (i) shall be of materially equal or like value as the
replaced or repaired Collateral and (ii) shall be deemed Collateral in which Bank has been granted a first priority security interest, and (b) after the occurrence and during the continuance of an Event of Default, all proceeds payable
under such casualty policy shall, at the option of Bank, be payable to Bank on account of the Obligations. If Borrower fails to obtain insurance as required under this Section 6.7 or to pay any amount or furnish any required proof of payment to
third persons and Bank, Bank may make all or part of such payment or obtain such insurance policies required in this Section 6.7, and take any action under the policies Bank deems prudent. 

6.8 Operating Accounts. 
 (a) Maintain its (i) depository accounts and operating accounts and (ii) securities accounts (which such accounts shall represent at least eighty-five percent (85%) of the dollar value of
Borrower’s securities accounts at all financial institutions worldwide), each with Bank and Bank’s affiliates with all excess funds maintained at or invested through Bank or an affiliate of Bank, excluding however, cash collateral held at
other financial institutions used to secure letters of credit or cash held as lease deposits, in each case as described in the Perfection Certificate. 
 (b) Provide Bank five (5) days prior-written notice before establishing any Collateral Account at or with any bank or financial institution other than Bank or Bank’s Affiliates. For each
Collateral Account that Borrower at any time maintains (excluding however, cash collateral held at other financial institutions used to secure letters of credit or cash held as lease deposits, in each case as described in the Perfection
Certificate), Borrower shall cause the applicable bank or financial institution (other than Bank) at or with which any Collateral Account is maintained to execute and deliver a Control Agreement or other appropriate instrument with respect to such
Collateral Account to perfect Bank’s Lien in such Collateral Account in accordance with the terms hereunder which Control Agreement may not be terminated without the prior written consent of Bank. The provisions of the previous sentence shall
not apply to (i) deposit accounts exclusively used for payroll, payroll taxes and other employee wage and benefit payments to or for the benefit of Borrower’s employees and identified to Bank by Borrower as such and (ii) Collateral
Accounts existing on the Effective Date but solely for a period of sixty (60) days following the Effective Date. 
 6.9
Tangible Net Worth. Borrower shall maintain at all times, to be tested as of the last day of each month, on a consolidated basis with respect to Borrower and its Subsidiaries, a Tangible Net Worth of at least Eleven Million Five Hundred Thousand
Dollars ($11,500,000), increasing by (i) fifty percent (50%) of the net proceeds from the issuance of equity, and (ii), twenty-five percent (25%) of quarterly Net Income. 

6.10 Protection and Registration of Intellectual Property Rights. 

(a)(i) Protect, defend and maintain the validity and enforceability of its Intellectual Property; (ii) promptly advise Bank in
writing of material infringements of its Intellectual Property; and (iii) not allow any Intellectual Property material to Borrower’s business, taken as a whole, to be abandoned, forfeited or dedicated to the public without Bank’s
written consent. 
 (b) If Borrower (i) obtains any Patent, registered Trademark, registered Copyright, registered mask
work, or any pending application for any of the foregoing, whether as owner, licensee or otherwise, or (ii) applies for any Patent or the registration of any Trademark, then Borrower shall immediately provide written notice thereof to Bank and
shall execute such intellectual property security agreements and other documents and take such other actions as Bank shall request in its good faith business judgment to perfect and maintain a first priority perfected security interest in favor of
Bank in such property. If Borrower decides to register any Copyrights or mask works in the United States Copyright Office, Borrower shall: (x) provide Bank with at least fifteen (15) days prior written notice of Borrower’s intent to
register such Copyrights or mask works together with a copy of the application it intends to file with the United States Copyright Office (excluding exhibits thereto); (y) execute an 

  
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intellectual property security agreement and such other documents and take such other actions as Bank may request in its good faith business judgment to perfect and maintain a first priority
perfected security interest in favor of Bank in the Copyrights or mask works intended to be registered with the United States Copyright Office; and (z) record such intellectual property security agreement with the United States Copyright Office
contemporaneously with filing the Copyright or mask work application(s) with the United States Copyright Office. Borrower shall promptly provide to Bank copies of all applications that it files for Patents or for the registration of Trademarks,
Copyrights or mask works, together with evidence of the recording of the intellectual property security agreement necessary for Bank to perfect and maintain a first priority security interest in such property. 

(c) Provide written notice to Bank within ten (10) days of entering or becoming bound by any Restricted License (other than
over-the-counter software that is commercially available to the public). Borrower shall take such steps as Bank reasonably requests to obtain the consent of, or waiver by, any person whose consent or waiver is necessary for (i) any Restricted
License to be deemed “Collateral” and for Bank to have a security interest in it that might otherwise be restricted or prohibited by law or by the terms of any such Restricted License, whether now existing or entered into in the future,
and (ii) Bank to have the ability in the event of a liquidation of any Collateral to dispose of such Collateral in accordance with Bank’s rights and remedies under this Agreement and the other Loan Documents. 

6.11 Litigation Cooperation. From the date hereof and continuing through the termination of this Agreement, make available to
Bank, without expense to Bank, Borrower and its officers, employees and agents and Borrower’s Books, to the extent that Bank may deem them reasonably necessary to prosecute or defend any third-party suit or proceeding instituted by or against
Bank with respect to any Collateral or relating to Borrower. 
 6.12 Creation/Acquisition of Subsidiaries.
Notwithstanding and without limiting the negative covenant contained in Section 7.3 hereof, in the event Borrower or any Subsidiary creates or acquires any Subsidiary, Borrower and such Subsidiary shall promptly notify Bank of the creation or
acquisition of such new Subsidiary and, at Bank’s request, in its sole discretion, take all such action as may be reasonably required by Bank to cause each such Subsidiary to, in Bank’s sole discretion, become a co-Borrower or Guarantor
under the Loan Documents and grant a continuing pledge and security interest in and to the assets of such Subsidiary (substantially as defined as “Collateral” herein and as described on Exhibit A hereto); and Borrower shall grant and
pledge to Bank a perfected security interest in the stock, units or other evidence of ownership of each Subsidiary. 
 6.13
Further Assurances. Execute any further instruments and take further action as Bank reasonably requests to perfect or continue Bank’s Lien in the Collateral or to effect the purposes of this Agreement. Borrower shall deliver to Bank, within
five (5) days after the same are sent or received, copies of all correspondence, reports, documents and other filings with any Governmental Authority regarding compliance with or maintenance of Governmental Approvals or Requirements of Law or
that could reasonably be expected to have a material effect on any of the Governmental Approvals or otherwise on the operations of Borrower or any of its Subsidiaries. 
 6.14 Post-closing Obligations.  
 (a) Within ninety (90) days
following the Effective Date (or such later date as Bank shall determine in its sole discretion), Borrower take all such action as may be reasonably required by Bank to cause each of MAVENIR SYSTEMS HOLDINGS LIMITED (“U.K.
Holdings”), MAVENIR SYSTEMS UK LIMITED (“Mavenir U.K.”) and MAVENIR SYSTEMS PTE LTD. (“Mavenir Singapore”) to become a co-Borrower under the Loan Documents and grant a continuing
pledge and security interest in and to the assets of each such entity (substantially as described on Exhibit A hereto), including, without limitation, delivery of the following, in each case in form and substance acceptable to Bank, in its sole
discretion: 
 (i) duly executed original signature pages to the applicable joinder agreement; 

(ii) duly executed original signature pages to mortgage debentures granted by each of Mavenir U.K. and U.K. Holdings in favor of Bank;

 (iii) duly executed original signature pages to (A) a first charge over the entire issued share capital of U.K.
Holdings granted by U.S. Holdings as the shareholder of U.K. Holdings to Bank and (B) a first charge over the entire issued share capital Mavenir U.K. granted by U.K. Holdings as the shareholder of Mavenir U.K. to Bank dated as of the Effective
Date; 

  
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 (iv) original share certificates representing the shares in each of Mavenir U.K. and U.K.
Holdings charged in favor of Bank pursuant to the terms of the charges referenced in item (iii) above, together with duly executed blank stock transfer forms in respect of such shares; 

(v) duly executed original signature pages to a debenture by Mavenir Singapore in favor of Bank; 

(vi) evidence of the establishment of blocked account(s) (as appropriate) established with Royal Bank of Scotland plc or such other
designated account(s) with such bank(s) as Bank may stipulate or reasonably approve from time to time, or to wire any other transfer payments to a cash collateral account that Bank controls; 

(vii) duly executed original certificate of the Secretary or a Director of each of U.K. Holdings and Mavenir U.K. certifying the
memorandum and articles of association, register of charges, specimen signatures, board minutes authorizing the execution and delivery of any Loan Documents to which it is a party, and (if required) written resolutions of the sole shareholder of
each U.K. Holdings and Mavenir U.K. amending its articles of association; 
 (viii) duly executed original certificate of the
Secretary or a Director of Mavenir Singapore certifying the certificate of incorporation, memorandum and articles of association, register of members, specimen signatures and directors’ resolutions authorizing the execution and delivery of any
Loan Documents to which it is a party, and shareholder’s resolutions of the Mavenir Singapore (and if required, amending its constitution documents); 
 (ix) duly executed original signature to a payoff letter from The Hong Kong and Shanghai Banking Corporation Limited, as necessary, evidencing repayment in full of all obligations owed by the Mavenir
Singapore to such entity; 
 (x) evidence that, (i) the Liens securing Indebtedness owed by the Mavenir Singapore to The
Hong Kong and Shanghai Banking Corporation Limited (including, without limitation, the Security over Deposits with the Bank dated 30 July 2003 granted by the Mavenir Singapore to such entity) will be terminated and (ii) the documents
and/or filings evidencing the perfection of such Liens, including without limitation any financing statements and/or control agreements have been terminated, in each case, as necessary; 

(xi) certified copies, dated as of a recent date, of financing statement searches, as Bank shall request, accompanied by written
evidence (including any UCC termination statements) that the Liens indicated in any such financing statements either constitute Permitted Liens or have been terminated or released; 

(xii) an updated Perfection Certificate of each Borrower and Guarantor, together with the duly executed original signature pages
thereto; 
 (xiii) a legal opinion of Bank’s UK counsel (authority/enforceability) in respect of each of Mavenir U.K. and
U.K. Holdings, in form and substance acceptable to Bank, together with the duly executed signatures thereto; and 
 (xiv) a
legal opinion of Borrower’s Singapore counsel in respect of Mavenir Singapore, in form and substance acceptable to Bank, dated as of the Effective Date, together with the duly executed signatures thereto. 

(b) Within fifteen (15) days following the Effective Date (or such later date as Bank shall determine in its sole discretion),
Borrower shall deliver to Bank evidence of recordation of releases of any security agreement or other filings recorded with the U.S. Patent and Trademark Office with respect to the security granted to Prior Lender. 

  
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 (c) Completion of the Initial Audit with results satisfactory to Bank in its sole and
absolute discretion within thirty (30) days following the Effective Date (provided that, completion of such Initial Audit shall not be condition precedent to any Credit Extension under the Non-formula Revolving Line or the Bank
Services Facility. 
 (d) Within thirty (30) days following the Effective Date (or such later date as Bank shall determine
in its sole discretion), Borrower shall cause Mavenir Systems IP Holdings, LLC (“Mavenir IP”), a Delaware corporation and a direct subsidiary of Mavenir, to join the Loan Documents as a Borrower and granting to Bank a continuing,
first-priority security interest in and to all assets of Mavenir IP. 
 (e) Within sixty (60) days following the Effective
Date (or such later date as Bank shall determine in its sole discretion), Borrower shall deliver a landlord’s consent in favor of Bank for Borrower’s leased location at 1700 International Parkway, Suite 200, Richardson, Texas 75081 by the
respective landlord thereof, together with the duly executed original signature pages thereto. 
 (f) Within sixty
(60) days following the Effective Date (or such later date as Bank shall determine in its sole discretion), Borrower shall deliver to Bank duly executed original signature pages to the Control Agreements for Collateral Accounts existing on the
Effective Date, as required pursuant to Section 6.8(b). 
 (g) Within ninety (90) days following the Effective Date
(or such later date as Bank shall determine in its sole discretion), Borrower shall deliver to Bank duly executed original signature pages to the Australian Guaranty, together with Secretary’s Certificate and completed Borrowing Resolutions for
Australian Guarantor. 
 7 NEGATIVE COVENANTS 

Borrower shall not do any of the following without Bank’s prior written consent: 

7.1 Dispositions. Convey, sell, lease, transfer, assign, or otherwise dispose of (collectively, “Transfer”), or
permit any of its Subsidiaries to Transfer, all or any part of its business or property, except for Transfers (a) of Inventory in the ordinary course of business; (b) of Equipment or other property which is worn out, obsolete, being
replaced by Equipment or property of reasonably equivalent or better value or usefulness, or no longer necessary for the business of Borrower or such Subsidiary; (c) in connection with Permitted Liens and Permitted Investments, (d) of
non-exclusive licenses for the use of the property of Borrower or any of its Subsidiaries in the ordinary course of business and consistent with past practice; (e) of Demonstration Systems to customers or prospective customers in the ordinary
course of business and consistent with past practice; (f) of property from one Borrower to another Borrower; and (g) otherwise expressly permitted pursuant to this Agreement. 

7.2 Changes in Business, Management, Ownership, or Business Locations. (a) Engage in or permit any of its Subsidiaries, if
any, to engage in any material line of business other than those lines of business currently engaged in by Borrower and its Subsidiaries, or business reasonably related, complimentary or incidental thereto; (b) liquidate or dissolve; or
(c) (i) have a change in the Chief Executive Officer or Chief Financial Officer of Mavenir and replacements satisfactory to Mavenir’s board of directors are not made within sixty (60) days after their departure from Mavenir; or
(ii) enter into any transaction or series of related transactions in which the stockholders of such Borrower who were not stockholders immediately prior to the first such transaction own more than 49.00% of the voting stock of such Borrower
immediately after giving effect to such transaction or related series of such transactions (other than by the sale of Borrower’s equity securities in a public offering or to venture capital investors so long as Borrower identifies to Bank the
venture capital investors prior to the closing of the transaction and provides to Bank a description of the material terms of the transaction). 
 Borrower shall not, without at least thirty (30) days prior written notice to Bank: (1) add any new offices or business locations, including warehouses (unless such new offices or business
locations contain less than Fifty Thousand Dollars ($50,000.00) in Borrower’s assets or property) or deliver any portion of the Collateral valued, individually or in the aggregate, in excess of Fifty Thousand Dollars ($50,000.00) to a bailee at
a location other than to a bailee and at a location already disclosed in the Perfection Certificate, (2) change its jurisdiction of organization, (3) change its organizational structure or type, (4) change its legal name, or
(5) change any organizational number (if any) assigned by its jurisdiction of organization. If Borrower intends to deliver any portion of the Collateral valued, individually or in the aggregate, in excess of Fifty Thousand Dollars ($50,000.00)
to a bailee, and Bank and such bailee are not already parties to a bailee agreement governing both the Collateral and the location to which Borrower intends to deliver the Collateral, then Borrower will first receive the written consent of Bank, and
such bailee shall execute and deliver a bailee agreement in form and substance satisfactory to Bank in its sole discretion. 

  
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 7.3 Mergers or Acquisitions. Merge or consolidate, or permit any of its Subsidiaries
to merge or consolidate, with any other Person, or acquire, or permit any of its Subsidiaries to acquire, all or substantially all of the capital stock or property of another Person. A Subsidiary may merge or consolidate into another Subsidiary or
into Borrower. 
 7.4 Indebtedness. Create, incur, assume, or be liable for any Indebtedness, or permit any Subsidiary to
do so, other than Permitted Indebtedness. 
 7.5 Encumbrance. Create, incur, allow, or suffer any Lien on any of the
Collateral, or assign or convey any right to receive income, including the sale of any Accounts, or permit any of its Subsidiaries to do so, except for Permitted Liens, permit any Collateral not to be subject to the first priority security interest
granted herein, or enter into any agreement, document, instrument or other arrangement (except with or in favor of Bank) with any Person which directly or indirectly prohibits or has the effect of prohibiting Borrower or any Subsidiary from
assigning, mortgaging, pledging, granting a security interest in or upon, or encumbering any of Borrower’s or any Subsidiary’s Intellectual Property, except as is otherwise permitted in Section 7.1 hereof and the definition of
“Permitted Liens” herein. 
 7.6 Maintenance of Collateral Accounts. Maintain any Collateral Account except
pursuant to the terms of Section 6.8(b) hereof. 
 7.7 Distributions; Investments. (a) Pay any dividends or
make any distribution or payment or redeem, retire or purchase any capital stock provided that (i) Borrower may convert any of its convertible securities into other securities pursuant to the terms of such convertible securities or otherwise in
exchange thereof, (ii) Borrower may pay dividends solely in common stock; and (iii) Borrower may repurchase the stock of former directors, employees or consultants pursuant to stock repurchase agreements or similar agreements so long as an
Event of Default does not exist at the time of such repurchase and would not exist after giving effect to such repurchase, provided such repurchase does not exceed in the aggregate of One Hundred Thousand Dollars ($100,000.00) per fiscal year; or
(b) directly or indirectly make any Investment (including, without limitation, any additional Investment in any Subsidiary) other than Permitted Investments, or permit any of its Subsidiaries to do so. 

7.8 Transactions with Affiliates. Directly or indirectly enter into or permit to exist any material transaction with any Affiliate
of Borrower, except for transactions that are in the ordinary course of Borrower’s business, upon fair and reasonable terms that are no less favorable to Borrower than would be obtained in an arm’s length transaction with a non-affiliated
Person. 
 7.9 Subordinated Debt. (a) Make or permit any payment on any Subordinated Debt, except under the terms of
the subordination, intercreditor, or other similar agreement to which such Subordinated Debt is subject, or (b) amend any provision in any document relating to the Subordinated Debt which would increase the amount thereof or adversely affect
the subordination thereof to Obligations owed to Bank. Notwithstanding the foregoing, so long as no Event of Default has occurred and is continuing or would result from such payment, Bank consents to payments made in respect of Indebtedness
described under clause (f) of the definition of Permitted Indebtedness. 
 7.10 Compliance. Become an
“investment company” or a company controlled by an “investment company”, under the Investment Company Act of 1940, as amended, or undertake as one of its important activities extending credit to purchase or carry margin stock (as
defined in Regulation U of the Board of Governors of the Federal Reserve System), or use the proceeds of any Credit Extension for that purpose; fail to meet the minimum funding requirements of ERISA, permit a Reportable Event or non-exempt
Prohibited Transaction, as defined in ERISA, to occur; fail to comply with the Federal Fair Labor Standards Act or violate any other law or regulation, if the violation could reasonably be expected to have a material adverse effect on
Borrower’s business, taken as a whole, or permit any of its Subsidiaries to do so; withdraw or permit any Subsidiary to withdraw from participation in, permit partial or complete termination of, or permit the occurrence of any other event with
respect to, any present pension, profit sharing and deferred compensation plan which could reasonably be expected to result in any liability of Borrower, including any liability to the Pension Benefit Guaranty Corporation or its successors or any
other governmental agency. 

  
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 8 EVENTS OF DEFAULT 

Any one of the following shall constitute an event of default (an “Event of Default”) under this Agreement: 

8.1 Payment Default. Borrower fails to (a) make any payment of principal or interest on any Credit Extension on its due date,
or (b) pay any other Obligations within three (3) Business Days after such Obligations are due and payable (which three (3) Business Day cure period shall not apply to payments due on the Revolving Line Maturity Date or Non-formula
Revolving Line Maturity Date, as applicable); provided that no Event of Default under this Section 8.1 shall occur as a result of the failure by Bank to timely debit Borrower’s account for any such payments of principal
and/or interest. During the cure period, the failure to make or pay any payment specified under clause (a) or (b) hereunder is not an Event of Default (but no Credit Extension will be made during the cure period); 

8.2 Covenant Default. 
 (a) Borrower fails or neglects to perform any obligation in Sections 2.2, 6.2, 6.4, 6.5, 6.6, 6.7, 6.8, 6.9, 6.10, or 6.11, or violates any covenant in Section 7; or 

(b) Borrower fails or neglects to perform, keep, or observe any other term, provision, condition, covenant or agreement contained in
this Agreement or any Loan Documents, and as to any default (other than those specified in this Section 8) under such other term, provision, condition, covenant or agreement that can be cured, has failed to cure the default within ten
(10) days after the occurrence thereof; provided, however, that if the default cannot by its nature be cured within the ten (10) day period or cannot after diligent attempts by Borrower be cured within such ten (10) day
period, and such default is likely to be cured within a reasonable time, then Borrower shall have an additional period (which shall not in any case exceed thirty (30) days) to attempt to cure such default, and within such reasonable time period
the failure to cure the default shall not be deemed an Event of Default (but no Credit Extensions shall be made during such cure period). Cure periods provided under this section shall not apply, among other things, to financial covenants or any
other covenants set forth in clause (a) above; 
 8.3 Material Adverse Change. A Material Adverse Change occurs;

 8.4 Attachment; Levy; Restraint on Business. 
 (a) (i) The service of process seeking to attach, by trustee or similar process, any funds of Borrower or of any entity under the control of Borrower (including a Subsidiary) on deposit or otherwise
maintained with Bank or any Bank Affiliate, or (ii) a notice of lien or levy is filed against any of Borrower’s assets by any government agency, and the same under subclauses (i) and (ii) hereof are not, within ten (10) days
after the occurrence thereof, discharged or stayed (whether through the posting of a bond or otherwise); provided, however, no Credit Extensions shall be made during any ten (10) day cure period; or 

(b)(i) any material portion of Borrower’s assets is attached, seized, levied on, or comes into possession of a trustee or receiver,
or (ii) any court order enjoins, restrains, or prevents Borrower from conducting any material part of its business; 

8.5 Insolvency. (a) Borrower is unable to pay its debts (including trade debts) as they become due or otherwise becomes
insolvent; (b) Borrower begins an Insolvency Proceeding; or (c) an Insolvency Proceeding is begun against Borrower and not dismissed or stayed within thirty (30) days (but no Credit Extensions shall be made while of any of the
conditions described in clause (a) exist and/or until any Insolvency Proceeding is dismissed); 
 8.6 Other
Agreements. There is, under any agreement to which Borrower or any Guarantor is a party with a third party or parties (other than the Subordinated Loan Agreement), (a) any default resulting in a right by such third party or parties, whether
or not exercised, to accelerate the maturity of any Indebtedness in an amount individually or in the aggregate in excess of Two Hundred Fifty Thousand Dollars ($250,000.00); or (b) any default under any material agreement of Borrower or
Guarantor that could have a material adverse effect on Borrower’s or Guarantor’s business, taken as a whole; 

  
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 8.7 Judgments. One or more final judgments, orders, or decrees for the payment of
money in an amount, individually or in the aggregate, of at least Five Hundred Thousand Dollars ($500,000.00) (not covered by independent third-party insurance as to which liability has been accepted by such insurance carrier) shall be rendered
against Borrower and the same are not, within ten (10) days after the entry thereof, discharged or execution thereof stayed or bonded pending appeal, or such judgments are not discharged prior to the expiration of any such stay (provided that
no Credit Extensions will be made prior to the discharge, stay, or bonding of such judgment, order, or decree); 
 8.8
Misrepresentations. Borrower or any Person acting for Borrower makes any representation, warranty, or other statement now or later in this Agreement, any Loan Document or in any writing delivered to Bank or to induce Bank to enter this Agreement
or any Loan Document, and such representation, warranty, or other statement is incorrect in any material respect when made; 

8.9 Subordinated Debt. Any document, instrument, or agreement evidencing any Subordinated Debt shall for any reason be revoked or
invalidated or otherwise cease to be in full force and effect, any Person shall be in breach thereof or contest in any manner the validity or enforceability thereof or deny that it has any further liability or obligation thereunder, or the
Obligations shall for any reason be subordinated or shall not have the priority contemplated by this Agreement; 
 8.10
Governmental Approvals. Any Governmental Approval shall have been (a) revoked, rescinded, suspended, modified in a material adverse manner or not renewed in the ordinary course for a full term or (b) subject to any decision by a
Governmental Authority that designates a hearing with respect to any applications for renewal of any of such Governmental Approval or that could result in the Governmental Authority taking any of the actions described in clause (a) above, and
such decision or such revocation, rescission, suspension, modification or non-renewal (i) has, or could reasonably be expected to have, a Material Adverse Change, or (ii) adversely affects the legal qualifications of Borrower or any of its
Subsidiaries to hold such Governmental Approval in any applicable jurisdiction and such revocation, rescission, suspension, modification or non-renewal could reasonably be expected to affect the status of or legal qualifications of Borrower or any
of its Subsidiaries to hold any Governmental Approval in any other jurisdiction; 
 8.11 Subordinated Loan Agreement.
(a) The occurrence of an Event of Default (as defined in the Subordinated Loan Agreement) resulting from Borrower’s failure to comply with Section 2.1.1(b) of the Subordinated Loan Agreement or (b) Bank’s exercise of
remedies pursuant to Section 9.1(a) of the Subordinated Loan Agreement; or 
 8.12 Guaranty. (a) Any guaranty
of any Obligations terminates or ceases for any reason to be in full force and effect; (b) any Guarantor does not perform any obligation or covenant relating to the Obligations under any guaranty of the Obligations; (c) any circumstance
described in Sections 8.3, 8.4, 8.5, 8.7, or 8.8. occurs with respect to any Guarantor, or (d) the liquidation, winding up, or termination of existence of any Guarantor; or (e) a material adverse change in the general affairs, management,
results of operation, condition (financial or otherwise) or the prospect of repayment of the Obligations occurs with respect to any Guarantor. 
 9 BANK’S RIGHTS AND REMEDIES 
 9.1 Rights and Remedies.
While an Event of Default occurs and continues Bank may, without notice or demand, do any or all of the following: 
 (a)
declare all Obligations immediately due and payable (but if an Event of Default described in Section 8.5 occurs all Obligations are immediately due and payable without any action by Bank); 

(b) stop advancing money or extending credit for Borrower’s benefit under this Agreement or under any other agreement between
Borrower and Bank; 
 (c) for any Letters of Credit, whether issued under the Bank Services Facility, or otherwise, demand that
Borrower (i) deposit cash with Bank in an amount equal to 105% (110% for Letters of Credit issued in a currency other than Dollars), of the Dollar Equivalent of the aggregate face amount of all Letters of Credit remaining undrawn plus all
interest, fees, and costs due or to become due in connection therewith (as estimated by Bank in its good faith business judgment), to secure all of the Obligations relating to such Letters of Credit, as

  
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collateral security for the repayment of any future drawings under such Letters of Credit, and Borrower shall forthwith deposit and pay such amounts, and (ii) pay in advance all Letter of
Credit fees scheduled to be paid or payable over the remaining term of any Letters of Credit; provided, however, if an Event of Default described in Section 8.5 occurs, the obligation of Borrower to cash collateralize all Letters
of Credit remaining undrawn shall automatically become effective without any action by Bank; 
 (d) terminate any FX Forward
Contracts; 
 (e) settle or adjust disputes and claims directly with Account Debtors for amounts on terms and in any order that
Bank considers advisable, notify any Person owing Borrower money of Bank’s security interest in such funds, and verify the amount of such account; 
 (f) make any payments and do any acts it considers necessary or reasonable to protect the Collateral and/or its security interest in the Collateral. Borrower shall assemble the Collateral if Bank requests
and make it available as Bank designates. Bank may enter premises where the Collateral is located, take and maintain possession of any part of the Collateral, and pay, purchase, contest, or compromise any Lien which appears to be prior or superior
to its security interest and pay all expenses incurred. Borrower grants Bank a license to enter and occupy any of its premises, without charge, to exercise any of Bank’s rights or remedies; 

(g) apply to the Obligations any (i) balances and deposits of Borrower it holds, or (ii) any amount held by Bank owing to or
for the credit or the account of Borrower; 
 (h) ship, reclaim, recover, store, finish, maintain, repair, prepare for sale,
advertise for sale, and sell the Collateral. Bank is hereby granted a non-exclusive, royalty-free license or other right to use, without charge, Borrower’s labels, Patents, Copyrights, mask works, rights of use of any name, trade secrets, trade
names, Trademarks, and advertising matter, or any similar property as it pertains to the Collateral, in completing production of, advertising for sale, and selling any Collateral and, in connection with Bank’s exercise of its rights under this
Section, Borrower’s rights under all licenses and all franchise agreements inure to Bank’s benefit; 
 (i) place a
“hold” on any account maintained with Bank and/or deliver a notice of exclusive control, any entitlement order, or other directions or instructions pursuant to any Control Agreement or similar agreements providing control of any
Collateral; 
 (j) demand and receive possession of Borrower’s Books; and 

(k) exercise all rights and remedies available to Bank under the Loan Documents or at law or equity, including all remedies provided
under the Code (including disposal of the Collateral pursuant to the terms thereof). 
 9.2 Power of Attorney. Borrower
hereby irrevocably appoints Bank as its lawful attorney-in-fact, exercisable upon the occurrence and during the continuance of an Event of Default, to: (a) endorse Borrower’s name on any checks or other forms of payment or security;
(b) sign Borrower’s name on any invoice or bill of lading for any Account or drafts against Account Debtors; (c) settle and adjust disputes and claims about the Accounts directly with Account Debtors, for amounts and on terms Bank
determines reasonable; (d) make, settle, and adjust all claims under Borrower’s insurance policies; (e) pay, contest or settle any Lien, charge, encumbrance, security interest, and adverse claim in or to the Collateral, or any
judgment based thereon, or otherwise take any action to terminate or discharge the same; and (f) transfer the Collateral into the name of Bank or a third party as the Code permits. Borrower hereby appoints Bank as its lawful attorney-in-fact to
sign Borrower’s name on any documents necessary to perfect or continue the perfection of Bank’s security interest in the Collateral regardless of whether an Event of Default has occurred until all Obligations have been satisfied in full
and Bank is under no further obligation to make Credit Extensions hereunder. Bank’s foregoing appointment as Borrower’s attorney in fact, and all of Bank’s rights and powers, being coupled with an interest, are irrevocable until all
Obligations have been fully repaid and performed and Bank’s obligation to provide Credit Extensions terminates. 
 9.3
Protective Payments. If Borrower fails to obtain the insurance called for by Section 6.7 or fails to pay any premium thereon or fails to pay any other amount which Borrower is obligated to pay under this Agreement or any other Loan
Document, Bank may obtain such insurance or make such payment, and all amounts so paid by Bank are Bank Expenses and immediately due and payable, bearing interest at the then highest rate 

  
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applicable to the Obligations, and secured by the Collateral. Bank will make reasonable efforts to provide Borrower with notice of Bank obtaining such insurance at the time it is obtained or
within a reasonable time thereafter. No payments by Bank are deemed an agreement to make similar payments in the future or Bank’s waiver of any Event of Default. 
 9.4 Application of Payments and Proceeds. If an Event of Default has occurred and is continuing, Bank may apply any funds in its possession, whether from Borrower account balances, payments,
proceeds realized as the result of any collection of Accounts or other disposition of the Collateral, or otherwise, to the Obligations in such order as Bank shall determine in its sole discretion. Any surplus shall be paid to Borrower or to other
Persons legally entitled thereto; Borrower shall remain liable to Bank for any deficiency. If Bank, in its good faith business judgment, directly or indirectly enters into a deferred payment or other credit transaction with any purchaser at any sale
of Collateral, Bank shall have the option, exercisable at any time, of either reducing the Obligations by the principal amount of the purchase price or deferring the reduction of the Obligations until the actual receipt by Bank of cash therefor.

 9.5 Bank’s Liability for Collateral. So long as Bank complies with reasonable banking practices regarding the
safekeeping of the Collateral in the possession or under the control of Bank, Bank shall not be liable or responsible for: (a) the safekeeping of the Collateral; (b) any loss or damage to the Collateral; (c) any diminution in the
value of the Collateral; or (d) any act or default of any carrier, warehouseman, bailee, or other Person. Borrower bears all risk of loss, damage or destruction of the Collateral. 

9.6 No Waiver; Remedies Cumulative. Bank’s failure, at any time or times, to require strict performance by Borrower of any
provision of this Agreement or any other Loan Document shall not waive, affect, or diminish any right of Bank thereafter to demand strict performance and compliance herewith or therewith. No waiver hereunder shall be effective unless signed by the
party granting the waiver and then is only effective for the specific instance and purpose for which it is given. Bank’s rights and remedies under this Agreement and the other Loan Documents are cumulative. Bank has all rights and remedies
provided under the Code, by law, or in equity. Bank’s exercise of one right or remedy is not an election and shall not preclude Bank from exercising any other remedy under this Agreement or other remedy available at law or in equity, and
Bank’s waiver of any Event of Default is not a continuing waiver. Bank’s delay in exercising any remedy is not a waiver, election, or acquiescence. 
 9.7 Demand Waiver. Borrower waives demand, notice of default or dishonor, notice of payment and nonpayment, notice of any default, nonpayment at maturity, release, compromise, settlement,
extension, or renewal of accounts, documents, instruments, chattel paper, and guarantees held by Bank on which Borrower is liable. 
 9.8 Borrower Liability. Any Borrower may, acting singly, request Credit Extensions hereunder. Each Borrower hereby appoints the other as agent for the other for all purposes hereunder, including
with respect to requesting Credit Extensions hereunder. Each Borrower hereunder shall be jointly and severally obligated to repay all Credit Extensions made hereunder, regardless of which Borrower actually receives said Credit Extension, as if each
Borrower hereunder directly received all Credit Extensions. Each Borrower waives (a) any suretyship defenses available to it under the Code or any other applicable law, and (b) any right to require Bank to: (i) proceed against any
Borrower or any other person; (ii) proceed against or exhaust any security; or (iii) pursue any other remedy. Bank may exercise or not exercise any right or remedy it has against any Borrower or any security it holds (including the right
to foreclose by judicial or non-judicial sale) without affecting any Borrower’s liability. Notwithstanding any other provision of this Agreement or other related document, so long as any Obligation remains outstanding, each Borrower irrevocably
subordinates in priority and payment to the indefeasible repayment in full in cash of the Obligations all rights that it may have at law or in equity (including, without limitation, any law subrogating Borrower to the rights of Bank under this
Agreement) to seek contribution, indemnification or any other form of reimbursement from any other Borrower, or any other Person now or hereafter primarily or secondarily liable for any of the Obligations, for any payment made by Borrower with
respect to the Obligations in connection with this Agreement or otherwise and all rights that it might have to benefit from, or to participate in, any security for the Obligations as a result of any payment made by Borrower with respect to the
Obligations in connection with this Agreement or otherwise. Any agreement providing for indemnification, reimbursement or any other arrangement prohibited under this Section shall be null and void. If any payment is made to a Borrower in
contravention of this Section, such Borrower shall hold such payment in trust for Bank and such payment shall be promptly delivered to Bank for application to the Obligations, whether matured or unmatured. 

  
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 10 NOTICES 

All notices, consents, requests, approvals, demands, or other communication (collectively, “Communication”), other than
Advance requests made pursuant to Section 3.4, by any party to this Agreement or any other Loan Document must be in writing and be delivered or sent by facsimile at the addresses or facsimile numbers listed below. Bank or Borrower may change
its notice address by giving the other party written notice thereof. Each such Communication shall be deemed to have been validly served, given, or delivered: (a) upon the earlier of actual receipt and three (3) Business Days after deposit
in the U.S mail, registered or certified mail, return receipt requested, with proper postage prepaid; (b) upon transmission, when sent by facsimile transmission (with such facsimile promptly confirmed by delivery of a copy by personal delivery
or United States mail as otherwise provided in this Section 10); (c) one (1) Business Day after deposit with a reputable overnight courier with all charges prepaid; or (d) when delivered, if hand-delivered by messenger, all of
which shall be addressed to the party to be notified and sent to the address or facsimile number indicated below. Advance requests made pursuant to Section 3.4 must be in writing and may be in the form of electronic mail, delivered to Bank by
Borrower at the e-mail address of Bank provided below and shall be deemed to have been validly served, given, or delivered when sent (with such electronic mail promptly confirmed by delivery of a copy by personal delivery or United States mail as
otherwise provided in this Section 10). Bank or Borrower may change its address, facsimile number, or electronic mail address by giving the other party written notice thereof in accordance with the terms of this Section 10. 

 

			
	 If to Borrower:
	  	Mavenir Systems, Inc.
		  	1651 North Glenville Drive, Suite 216
		  	Richardson, Texas 75081
		  	Attn: Sam Garrett, General Counsel
		  	Fax: (469) 916-4397
		  	Email: sam@mavenir.com
		
	 with a copy to:
	  	Andrews Kurth LLP
		  	111 Congress Avenue, Suite 1700
		  	Austin, Texas 78701
		  	Attn: Alan D. Bickerstaff
		  	Fax: (512) 542-5219
		  	Email: abickerstaff@andrewskurth.com
		
	 If to Bank:
	  	Silicon Valley Bank
		  	14185 Dallas Parkway, Suite 780
		  	Dallas, Texas 75254
		  	Attn: Jennifer Bentley
		  	Fax: (972) 212-7289
		  	Email: jbentley@svb.com
		
	 with a copy to:
	  	Riemer & Braunstein LLP
		  	Three Center Plaza
		  	Boston, Massachusetts 02108
		  	Attn: Charles W. Stavros, Esquire
		  	Fax: (617) 880-3456
		  	Email: cstavros@riemerlaw.com

 11 CHOICE OF LAW, VENUE, AND JURY TRIAL WAIVER 

New York law governs the Loan Documents without regard to principles of conflicts of law. Borrower and Bank each submit to the exclusive
jurisdiction of the State and Federal courts in New York; provided, however, that nothing in this Agreement shall be deemed to operate to preclude Bank from bringing suit or taking other legal action in any other jurisdiction to
realize on the Collateral or any other security for the Obligations, or to enforce a judgment or other court order in favor of Bank. Borrower expressly submits and consents in advance to such jurisdiction in any action or suit commenced in any such
court, and Borrower hereby waives any objection that 

  
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it may have based upon lack of personal jurisdiction, improper venue, or forum non conveniens and hereby consents to the granting of such legal or equitable relief as is deemed appropriate by
such court. Borrower hereby waives personal service of the summons, complaints, and other process issued in such action or suit and agrees that service of such summons, complaints, and other process may be made by registered or certified mail
addressed to Borrower at the address set forth in Section 10 of this Agreement and that service so made shall be deemed completed upon the earlier to occur of Borrower’s actual receipt thereof or three (3) days after deposit in the
U.S. mails, proper postage prepaid. NOTWITHSTANDING ANYTHING TO THE CONTRARY SET FORTH HEREINABOVE, BANK SHALL SPECIFICALLY 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. 
 TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, BORROWER AND BANK EACH WAIVE THEIR RIGHT TO A JURY TRIAL OF ANY CLAIM OR CAUSE OF ACTION ARISING OUT OF OR BASED UPON THIS AGREEMENT, THE LOAN
DOCUMENTS OR ANY CONTEMPLATED TRANSACTION, INCLUDING CONTRACT, TORT, BREACH OF DUTY AND ALL OTHER CLAIMS. THIS WAIVER IS A MATERIAL INDUCEMENT FOR BOTH PARTIES TO ENTER INTO THIS AGREEMENT. EACH PARTY HAS REVIEWED THIS WAIVER WITH ITS COUNSEL.

 12 GENERAL PROVISIONS 
 12.1 [Reserved]. 
 12.2 Successors and Assigns. This Agreement binds
and is for the benefit of the successors and permitted assigns of each party. Borrower may not assign this Agreement or any rights or obligations under it without Bank’s prior written consent (which may be granted or withheld in Bank’s
discretion). Bank has the right, without the consent of or notice to Borrower, to sell, transfer, assign, negotiate, or grant participation in all or any part of, or any interest in, Bank’s obligations, rights, and benefits under this Agreement
and the other Loan Documents. 
 12.3 Indemnification. Borrower agrees to indemnify, defend and hold Bank and its
directors, officers, employees, agents, attorneys, or any other Person affiliated with or representing Bank (each, an “Indemnified Person”) harmless against: (a) all obligations, demands, claims, and liabilities (collectively,
“Claims”) claimed or asserted by any other party in connection with the transactions contemplated by the Loan Documents; and (b) all losses or expenses (including Bank Expenses) in any way suffered, incurred, or paid by such
Indemnified Person as a result of, following from, consequential to, or arising from transactions between Bank and Borrower contemplated by the Loan Documents (including reasonable attorneys’ fees and expenses), except for Claims and/or losses
directly caused by such Indemnified Person’s gross negligence or willful misconduct. 
 12.4 Time of Essence. Time
is of the essence for the performance of all Obligations in this Agreement. 
 12.5 Correction of Loan Documents. Bank
may correct patent errors and fill in any blanks in the Loan Documents consistent with the agreement of the parties. 
 12.6
Severability of Provisions. Each provision of this Agreement is severable from every other provision in determining the enforceability of any provision. 
 12.7 Amendments in Writing; Waiver; Integration. No purported amendment or modification of any Loan Document, or waiver, discharge or termination of any obligation under any Loan Document, shall be
enforceable or admissible unless, and only to the extent, expressly set forth in a writing signed by the party against which enforcement or admission is sought. Without limiting the generality of the foregoing, no oral promise or statement, nor any
action, inaction, delay, failure to require performance or course of conduct shall operate as, or evidence, an amendment, supplement or waiver or have any other effect on any Loan Document. Any waiver granted shall be limited to the specific
circumstance expressly described in it, and shall not apply to any subsequent or other circumstance, whether similar or dissimilar, or give rise to, or evidence, any obligation or commitment to grant any further waiver. The Loan Documents represent
the entire agreement about this subject matter and supersede prior negotiations or agreements. All prior agreements, understandings, representations, warranties, and negotiations between the parties about the subject matter of the Loan Documents
merge into the Loan Documents. 

  
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 12.8 Counterparts. This Agreement may be executed in any number of counterparts and
by different parties on separate counterparts, each of which, when executed and delivered, is an original, and all taken together, constitute one Agreement. 
 12.9 Survival. All covenants, representations and warranties made in this Agreement continue in full force until this Agreement has terminated pursuant to its terms and all Obligations (other than
inchoate indemnity obligations and any other obligations which, by their terms, are to survive the termination of this Agreement) have been paid in full and satisfied. Without limiting the foregoing, except as otherwise provided in Section 4.1,
the grant of security interest by Borrower in Section 4.1 shall survive until the termination of all agreements under the Bank Services Facility. The obligation of Borrower in Section 12.3 to indemnify Bank shall survive until the statute
of limitations with respect to such claim or cause of action shall have run. 
 12.10 Confidentiality. In handling any
confidential information, Bank shall exercise the same degree of care that it exercises for its own proprietary information, but disclosure of information may be made: (a) to Bank’s Subsidiaries or Affiliates (such Subsidiaries and
Affiliates, together with Bank, collectively, “Bank Entities”); (b) to prospective transferees or purchasers of any interest in the Credit Extensions (provided, however, Bank shall use commercially reasonable
efforts to obtain any prospective transferee’s or purchaser’s agreement to the terms of this provision); (c) as required by law, regulation, subpoena, or other order; (d) to Bank’s regulators or as otherwise required in
connection with Bank’s examination or audit; (e) as Bank considers appropriate in exercising remedies under the Loan Documents; and (f) to third-party service providers of Bank so long as such service providers have executed a
confidentiality agreement with Bank with terms no less restrictive than those contained herein. Confidential information does not include information that is either: (i) in the public domain or in Bank’s possession when disclosed to
Bank, or becomes part of the public domain after disclosure to Bank; or (ii) disclosed to Bank by a third party if Bank does not know that the third party is prohibited from disclosing the information. 

Bank Entities may use the confidential information for reporting purposes and the development and distribution of databases and market
analyses 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
this Agreement. 
 12.11 Attorneys’ Fees, Costs and Expenses. In any action or proceeding between Borrower and Bank
arising out of or relating to the Loan Documents, Bank shall be entitled to recover its reasonable attorneys’ fees and other costs and expenses incurred, in addition to any other relief to which it may be entitled. 

12.12 Right of Set Off. Borrower 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 Obligations. 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. 

12.13 Electronic Execution of Documents. The words “execution,” “signed,” “signature” and words of
like import in any Loan Document shall be deemed to include electronic signatures or the keeping of records in electronic form, each of which shall be of the same legal effect, validity and enforceability as a manually executed signature or the use
of a paper-based recordkeeping systems, as the case may be, to the extent and as provided for in any applicable law, including, without limitation, any state law based on the Uniform Electronic Transactions Act. 

12.14 Captions. The headings used in this Agreement are for convenience only and shall not affect the interpretation of this
Agreement. 

  
 -24-

 12.15 Construction of Agreement. The parties mutually acknowledge that they and their
attorneys have participated in the preparation and negotiation of this Agreement. In cases of uncertainty this Agreement shall be construed without regard to which of the parties caused the uncertainty to exist. 

12.16 Relationship. The relationship of the parties to this Agreement is determined solely by the provisions of this Agreement.
The parties do not intend to create any agency, partnership, joint venture, trust, fiduciary or other relationship with duties or incidents different from those of parties to an arm’s-length contract. 

12.17 Third Parties. Nothing in this Agreement, whether express or implied, is intended to: (a) confer any benefits, rights
or remedies under or by reason of this Agreement on any Persons other than the express parties to it and their respective permitted successors and assigns; (b) relieve or discharge the obligation or liability of any Person not an express party
to this Agreement; or (c) give any Person not an express party to this Agreement any right of subrogation or action against any party to this Agreement. 
 12.18 Aylus Acquisition. The Bank hereby consents to the acquisition by Borrower or a Subsidiary of Borrower of Aylus Networks, Inc., a Delaware corporation; provided that, Borrower
or such Subsidiary shall comply with the provisions of Section 6.12 hereof. 
 13 DEFINITIONS 

13.1 Definitions. As used in the Loan Documents, the word “shall” is mandatory, the word “may” is permissive,
the word “or” is not exclusive, the words “includes” and “including” are not limiting and the singular includes the plural. As used in this Agreement, the following capitalized terms have the following meanings:

 “Account” is any “account” as defined in the Code with such additions to such term as may hereafter
be made, and includes, without limitation, all accounts receivable and other sums owing to Loan Party. 
 “Account
Debtor” is any “account debtor” as defined in the Code with such additions to such term as may hereafter be made. 
 “Advance” or “Advances” means an advance (or advances) under the Revolving Line. 
 “Affiliate” is, with respect to any Person, each other Person that owns or controls directly or indirectly the Person, any Person that controls or is controlled by or is under common
control with the Person, and each of that Person’s senior executive officers, directors, partners and, for any Person that is a limited liability company or limited liability partnership, that Person’s managers and members. 

“Agreement” is defined in the preamble hereof. 
 “Australian Guarantor” is Mavenir Systems Australia Pty. Limited, an entity organized under the laws of Australia. 

“Australian Guaranty” is that certain Unconditional Guaranty by Australian Guarantor in favor of Bank, dated as of the
Effective Date. 
 “Availability Amount” is (a) the lesser of (i) the Revolving Line or (ii) the
amount available under the Borrowing Base minus (b) the outstanding principal balance of any Advances. 

“Bank” is defined in the preamble hereof. 
 “Bank Expenses” are all audit fees and expenses, costs, and expenses (including reasonable attorneys’ fees and expenses) for preparing, amending, negotiating, administering,
defending and enforcing the Loan Documents (including, without limitation, those incurred in connection with appeals or Insolvency Proceedings) or otherwise incurred with respect to Borrower or any Guarantor. 

“Bank Services Facility” is the collective reference to the letter of credit facility described in Section 2.1.3,
the foreign exchange contract facility described in Section 2.1.4 and the cash management services facility described in Section 2.1.5. 

  
 -25-

 “Borrower” is defined in the preamble hereof. 

“Borrower’s Books” are all Borrower’s books and records including ledgers, federal and state tax returns,
records regarding Borrower’s assets or liabilities, the Collateral, business operations or financial condition, and all computer programs or storage or any equipment containing such information. 

“Borrowing Base” is the sum of (a) eighty percent (80%) of Eligible Accounts plus (b) without
duplication, the lesser of (i) fifty percent (50%) of Borrower’s Eligible Unbilled Accounts and (ii) Two Million Five Hundred Thousand Dollars ($2,500,000.00) in the aggregate, in each case as determined by Bank from
Borrower’s most recent Borrowing Base Certificate, provided, however, that Bank may decrease the foregoing amounts/percentages in its good faith business judgment based on events, conditions, contingencies, or risks which, as determined by
Bank, may adversely affect the Collateral. 
 “Borrowing Base Certificate” is that certain certificate included
within each Transaction Report. 
 “Borrowing Resolutions” are, with respect to any Person, those resolutions
adopted by such Person’s board of directors or other appropriate body and delivered by such Person to Bank approving the Loan Documents to which such Person is a party and the transactions contemplated thereby, together with a certificate
executed by its secretary or other appropriate person on behalf of such Person certifying that (a) such Person has the authority to execute, deliver, and perform its obligations under each of the Loan Documents to which it is a party,
(b) that attached as Exhibit A to such certificate is a true, correct, and complete copy of the resolutions then in full force and effect authorizing and ratifying the execution, delivery, and performance by such Person of the Loan Documents to
which it is a party, (c) the name(s) of the Person(s) authorized to execute the Loan Documents on behalf of such Person, together with a sample of the true signature(s) of such Person(s), and (d) that Bank may conclusively rely on such
certificate unless and until such Person shall have delivered to Bank a further certificate canceling or amending such prior certificate. 
 “Business Day” is any day that is not a Saturday, Sunday or a day on which Bank is closed. 
 “Canadian Guarantor” is Mavenir Systems North America Ltd., an entity organized under the laws of Canada. 
 “Canadian Guaranty” is that certain Unconditional Guaranty by Canadian Guarantor in favor of Bank, dated as of the Effective Date. 

“Cash Equivalents” means (a) marketable direct obligations issued or unconditionally guaranteed by the United
States or any agency or any State thereof having maturities of not more than one (1) year from the date of acquisition; (b) commercial paper maturing no more than one (1) year after its creation and having the highest rating from
either Standard & Poor’s Ratings Group or Moody’s Investors Service, Inc., (c) Bank’s certificates of deposit issued maturing no more than one (1) year after issue; and (d) money market funds at least
ninety-five percent (95%) of the assets of which constitute Cash Equivalents of the kinds described in clauses (a) through (c) of this definition. 
 “Cash Management Services” is defined in Section 2.1.5. 

“Code” is the Uniform Commercial Code, as the same may, from time to time, be enacted and in effect in the State of New
York; provided, that, to the extent that the Code is used to define any term herein or in any Loan Document and such term is defined differently in different Articles or Divisions of the Code, the definition of such term contained in
Article or Division 9 shall govern; provided further, that in the event that, by reason of mandatory provisions of law, any or all of the attachment, perfection, or priority of, or remedies with respect to, Bank’s Lien on any
Collateral is governed by the Uniform Commercial Code in effect in a jurisdiction other than the State of New York, the term “Code” shall mean the Uniform Commercial Code as enacted and in effect in such other jurisdiction solely
for purposes of the provisions thereof relating to such attachment, perfection, priority, or remedies and for purposes of definitions relating to such provisions. 
 “Collateral” is any and all properties, rights and assets of Borrower described on Exhibit A. 
 “Collateral Account” is any Deposit Account, Securities Account, or Commodity Account. 

  
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 “Commodity Account” is any “commodity account” as defined in the
Code with such additions to such term as may hereafter be made. 
 “Communication” is defined in
Section 10. 
 “Compliance Certificate” is that certain certificate in the form attached hereto as Exhibit
B. 
 “Contingent Obligation” is, for any Person, any direct or indirect liability, contingent or not, of that
Person for (a) any indebtedness, lease, dividend, letter of credit or other obligation of another such as an obligation, in each case directly or indirectly guaranteed, endorsed, co made, discounted or sold with recourse by that Person, or for
which that Person is directly or indirectly liable; (b) any obligations for undrawn letters of credit for the account of that Person; and (c) all obligations from any interest rate, currency or commodity swap agreement, interest rate cap
or collar agreement, or other agreement or arrangement designated to protect a Person against fluctuation in interest rates, currency exchange rates or commodity prices; but “Contingent Obligation” does not include endorsements in the
ordinary course of business. The amount of a Contingent Obligation is the stated or determined amount of the primary obligation for which the Contingent Obligation is made or, if not determinable, the maximum reasonably anticipated liability for it
determined by the Person in good faith; but the amount may not exceed the maximum of the obligations under any guarantee or other support arrangement. 
 “Control Agreement” is any control agreement entered into among the depository institution at which Borrower maintains a Deposit Account or the securities intermediary or commodity
intermediary at which Borrower maintains a Securities Account or a Commodity Account, Borrower, and Bank pursuant to which Bank obtains control (within the meaning of the Code) over such Deposit Account, Securities Account, or Commodity Account.

 “Copyrights” are any and all copyright rights, copyright applications, copyright registrations and like
protections in each work or authorship and derivative work thereof, whether published or unpublished and whether or not the same also constitutes a trade secret. 
 “Credit Extension” is any Advance, Non-Formula Advance, Letter of Credit, FX Forward Contract, amount utilized for Cash Management Services, or any other extension of credit by Bank for
Borrower’s benefit pursuant to any Loan Document. 
 “Default” means any event which with notice or
passage of time or both, would constitute an Event of Default. 
 “Default Rate” is defined in
Section 2.3(b). 
 “Deferred Revenue” is all amounts received or invoiced in advance of performance under
contracts and not yet recognized as revenue. 
 “Demonstration Systems” shall mean equipment and related goods
provided to customers or prospective customers for the purpose of allowing such parties to test Borrower’s products and services. 
 “Deposit Account” is any “deposit account” as defined in the Code with such additions to such term as may hereafter be made. 

“Designated Deposit Account” is Borrower’s deposit account, account number 3300923666, maintained with Bank.

 “Dollars,” “dollars” or use of the sign “$” means only lawful money of the United
States and not any other currency, regardless of whether that currency uses the “$” sign to denote its currency or may be readily converted into lawful money of the United States. 

“Dollar Equivalent” is, at any time, (a) with respect to any amount denominated in Dollars, such amount, and
(b) with respect to any amount denominated in a Foreign Currency, the equivalent amount therefor in Dollars as determined by Bank at such time on the basis of the then-prevailing rate of exchange in San Francisco, California, for sales of the
Foreign Currency for transfer to the country issuing such Foreign Currency. 

  
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 “Effective Date” is defined in the preamble hereof. 

“Eligible Accounts” means Accounts which arise in the ordinary course of a Loan Party’s business that meet all
Borrower’s representations and warranties in Section 5.3. Bank reserves the right at any time and from time to time after the Effective Date upon notice to Borrower, to adjust any of the criteria set forth below and to establish new
criteria in its good faith business judgment. Without limiting the fact that the determination of which Accounts are eligible for borrowing is a matter of Bank’s good faith judgment, unless Bank agrees otherwise in writing, Eligible Accounts
shall not include: 
 (a) Accounts for which the Account Debtor is Loan Parties’ Affiliate, officer, employee, or agent;

 (b) Accounts that the Account Debtor has not paid within ninety (90) days of invoice date regardless of invoice payment
period terms; 
 (c) Accounts with credit balances over ninety (90) days from invoice date; 

(d) Accounts owing from an Account Debtor, in which fifty percent (50%) or more of the Accounts have not been paid within ninety
(90) days of invoice date; 
 (e) Accounts owing from an Account Debtor which does not have its principal place of business
in the United States; 
 (f) Accounts billed and/or payable outside of the United States (sometimes called foreign invoiced
accounts); 
 (g) Accounts owing from an Account Debtor to the extent that the applicable Loan Party is indebted or obligated in
any manner to the Account Debtor (as creditor, lessor, supplier or otherwise—sometimes called “contra” accounts, accounts payable, customer deposits or credit accounts), with the exception of customary credit adjustments and/or
discounts given to an Account Debtor by such Loan Party in the ordinary course of its business, in amounts and in a manner consistent with past practices; 
 (h) Accounts owing from an Account Debtor which is a United States government entity or any department, agency, or instrumentality thereof unless the applicable Loan Party has assigned its payment rights
to Bank and the assignment has been acknowledged under the Federal Assignment of Claims Act of 1940, as amended; 
 (i) Accounts
for demonstration or promotional equipment, or in which goods are consigned, or sold on a “sale guaranteed”, “sale or return”, “sale on approval”, or other terms if Account Debtor’s payment may be conditional;

 (j) Accounts owing from an Account Debtor where goods or services have not yet been rendered to the Account Debtor (sometimes
called memo billings or pre-billings); 
 (k) Accounts subject to contractual arrangements between Loan Party and an Account
Debtor where payments shall be scheduled or due according to completion or fulfillment requirements where the Account Debtor has a right of offset for damages suffered as a result of Loan Party’s failure to perform in accordance with the
contract (sometimes called contracts accounts receivable, progress billings, milestone billings, or fulfillment contracts); 

(l) Accounts owing from an Account Debtor the amount of which may be subject to withholding based on the Account Debtor’s
satisfaction of Loan Party’s complete performance (but only to the extent of the amount withheld; sometimes called retainage billings); 
 (m) Accounts subject to trust provisions, subrogation rights of a bonding company, or a statutory trust; 
 (n) Accounts owing from an Account Debtor that has been invoiced for goods that have not been shipped to the Account Debtor unless Bank, the applicable Loan Party, and the Account Debtor have entered into
an agreement acceptable to Bank in its sole discretion wherein the Account Debtor acknowledges that (i) it has title to and has ownership of the goods wherever located, (ii) a bona fide sale of the goods has occurred, and (iii) it
owes payment for such goods in accordance with invoices from such Loan Party (sometimes called “bill and hold” accounts); 

  
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 (o) Accounts for which the Account Debtor has not been invoiced; 

(p) Accounts that represent non-trade receivables or that are derived by means other than in the ordinary course of Loan Party’s
business; 
 (q) Accounts for which Borrower has permitted Account Debtor’s payment to extend beyond ninety (90) days;

 (r) Accounts arising from chargebacks, debit memos or other payment deductions taken by an Account Debtor; 

(s) Accounts arising from product returns and/or exchanges (sometimes called “warranty” or “RMA” accounts);

 (t) Accounts in which the Account Debtor disputes liability or makes any claim (but only up to the disputed or claimed
amount), or if the Account Debtor is subject to an Insolvency Proceeding, or becomes insolvent, or goes out of business; 
 (u)
Accounts owing from an Account Debtor with respect to which the applicable Loan Party has received Deferred Revenue (but only to the extent of such Deferred Revenue), except software related Deferred Revenue; 

(v) Accounts owing from an Account Debtor, whose total obligations to the applicable Loan Party exceed twenty-five percent (25%) of
all Accounts (except for Flextronics/Cisco, for which such percentage is thirty-five percent (35%)), for the amounts that exceed that percentage, unless Bank approves in writing; 

(w) Accounts for which Bank in its good faith business judgment determines collection to be doubtful, including, without limitation,
accounts represented by “refreshed” or “recycled” invoices; and 
 (x) other Accounts Bank, after notice and
consultation with such Loan Party, deems ineligible in the exercise of its good faith business judgment. 
 “Eligible
Unbilled Accounts” are Accounts for which the Account Debtor has not been invoiced or where goods or services have not yet been rendered to the Account Debtor but are otherwise Eligible Accounts; provided such Accounts are billed and
goods and services will have been rendered to the applicable Account Debtor within fifteen (15) days of delivery of the applicable Borrowing Base Certificate and which must thereafter satisfy all of the requirements of Eligible Accounts.

 “Equipment” is all “equipment” as defined in the Code with such additions to such term as
may hereafter be made, and includes without limitation all machinery, fixtures, goods, vehicles (including motor vehicles and trailers), and any interest in any of the foregoing. 

“ERISA” is the Employee Retirement Income Security Act of 1974, and its regulations. 

“Event of Default” is defined in Section 8. 

“Excluded Property” means any property, right or asset that is described on Exhibit A held by the Borrower, to the
extent that such property, right or asset, or any agreement evidencing such property, right or asset, contains a term or is subject to a rule of law, statute or regulation that restricts, prohibits or requires a consent (that has not been obtained)
of a Person (other than the Borrower) to the creation, attachment or perfection of the security interest granted herein, and any such restriction, prohibition and/or requirement of consent is effective and enforceable under applicable law;
provided, that (x) “Excluded Property” shall not include any proceeds of any property, right or asset, and (y) any property, right or asset that at any time ceases to satisfy the definition of

  
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“Excluded Property,” whether as a result of the Borrower obtaining any necessary consent, any change in any rule of law, statute or regulation, or otherwise, shall no longer be
“Excluded Property” and shall immediately thereafter be deemed Collateral hereunder, subject to no Liens other than (i) the first priority Lien and security interest in favor of Bank and (ii) other Permitted Liens. 

“Foreign Currency” means lawful money of a country other than the United States. 

“Funding Date” is any date on which a Credit Extension is made to or for the account of Borrower which shall be a
Business Day. 
 “FX Business Day” is any day when (a) Bank’s Foreign Exchange Department is
conducting its normal business and (b) the Foreign Currency being purchased or sold by Borrower is available to Bank from the entity from which Bank shall buy or sell such Foreign Currency. 

“FX Forward Contract” is defined in Section 2.1.4. 

“FX Reduction Amount” is defined in Section 2.1.4. 

“GAAP” is generally accepted accounting principles set forth in the opinions and pronouncements of the Accounting
Principles Board of the American Institute of Certified Public Accountants and statements and pronouncements of the Financial Accounting Standards Board or in such other statements by such other Person as may be approved by a significant segment of
the accounting profession, which are applicable to the circumstances as of the date of determination. 
 “General
Intangibles” is all “general intangibles” as defined in the Code in effect on the date hereof with such additions to such term as may hereafter be made, and includes without limitation, all Intellectual Property, claims, income
and other tax refunds, security and other deposits, payment intangibles, contract rights, options to purchase or sell real or personal property, rights in all litigation presently or hereafter pending (whether in contract, tort or otherwise),
insurance policies (including without limitation key man, property damage, and business interruption insurance), payments of insurance and rights to payment of any kind. 
 “Governmental Approval” is any consent, authorization, approval, order, license, franchise, permit, certificate, accreditation, registration, filing or notice, of, issued by, from or to,
or other act by or in respect of, any Governmental Authority. 
 “Governmental Authority” is any nation or
government, any state or other political subdivision thereof, any agency, authority, instrumentality, regulatory body, court, central bank or other entity exercising executive, legislative, judicial, taxing, regulatory or administrative functions of
or pertaining to government, any securities exchange and any self-regulatory organization. 
 “Guarantor” is
any present or future guarantor of the Obligations, including as of the Effective Date, Australian Guarantor and Canadian Guarantor. 
 “Indebtedness” is (a) indebtedness for borrowed money or the deferred price of property or services, such as reimbursement and other obligations for surety bonds and letters of
credit, (b) obligations evidenced by notes, bonds, debentures or similar instruments, (c) capital lease obligations, and (d) Contingent Obligations. 
 “Indemnified Person” is defined in Section 12.3. 

“Initial Audit” is Bank’s inspection of Borrower’s Accounts, the Collateral, and Borrower’s Books with
results satisfactory to Bank in its sole and absolute discretion. 
 “Insolvency Proceeding” is any proceeding
by or against any Person under the United States Bankruptcy Code, or any other bankruptcy or insolvency law, including assignments for the benefit of creditors, compositions, extensions generally with its creditors, or proceedings seeking
reorganization, arrangement, or other relief. 

  
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 “Intellectual Property” means all of Borrower’s right, title, and
interest in and to the following: 
 (a) its Copyrights, Trademarks and Patents; 

(b) any and all trade secrets and trade secret rights, including, without limitation, any rights to unpatented inventions, know-how,
operating manuals; 
 (c) any and all source code; 
 (d) any and all design rights which may be available to a Borrower; 
 (e) any and
all claims for damages by way of past, present and future infringement of any of the foregoing, with the right, but not the obligation, to sue for and collect such damages for said use or infringement of the Intellectual Property rights identified
above; and 
 (f) all amendments, renewals and extensions of any of the Copyrights, Trademarks or Patents. 

“Inventory” is all “inventory” as defined in the Code in effect on the date hereof with such additions to such
term as may hereafter be made, and includes without limitation all merchandise, raw materials, parts, supplies, packing and shipping materials, work in process and finished products, including without limitation such inventory as is temporarily out
of Borrower’s custody or possession or in transit and including any returned goods and any documents of title representing any of the above. 
 “Investment” is any beneficial ownership interest in any Person (including stock, partnership interest or other securities), and any loan, advance or capital contribution to any Person.

 “IP Agreement” is that certain Intellectual Property Security Agreement executed and delivered by Borrower
to Bank dated as of the Effective Date including any amendments thereto together with any subsequent Intellectual Property Security Agreement delivered to Bank pursuant to this Agreement after the Effective Date. 

“Letter of Credit” is a standby or commercial letter of credit issued by Bank upon request of Borrower based upon an
application, guarantee, indemnity or similar agreement on the part of Bank as set forth in Section 2.1.3. 

“Letter of Credit Application” is defined in Section 2.1.3(b). 

“Letter of Credit Reserve” is defined in Section 2.1.3(e). 

“Lien” is a claim, mortgage, deed of trust, levy, charge, pledge, security interest or other encumbrance of any kind,
whether voluntarily incurred or arising by operation of law or otherwise against any property. 
 “Loan
Documents” are, collectively, this Agreement, the Perfection Certificate, the IP Agreement, the Canadian Guaranty, any agreements with respect to the Bank Services Facility, any subordination agreement, any note, or notes or guaranties
executed by Borrower and/or any Guarantor, and any other present or future agreement between Borrower and/or any Guarantor and for the benefit of Bank in connection with the foregoing, all as amended, restated, or otherwise modified. For the sake of
clarity, the Subordinated Loan Agreement and the documents and agreements entered into solely with respect to the Subordinated Loan Agreement (including, without limitation, the Warrant (as defined in the Subordinated Loan Agreement)) shall not be
considered “Loan Documents” under this Agreement. 
 “Loan Party” means Borrower, Australian
Guarantor and Canadian Guarantor, and any other Affiliate that becomes a Borrower or Guarantor under the Loan Documents after the Effective Date. 
 “Material Adverse Change” is (a) a material impairment in the perfection or priority of Bank’s Lien in the Collateral or in the value of such Collateral; (b) a material
adverse change in the business, operations, or condition (financial or otherwise) of Borrower, taken as a whole; (c) a material impairment of the prospect of 

  
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repayment of any portion of the Obligations or (d) Bank determines, based upon information available to it and in its reasonable judgment, that there is a reasonable likelihood that Borrower
shall fail to comply with one or more of the financial covenants in Section 6 during the next succeeding financial reporting period. 
 “Mavenir” is defined in the preamble hereto. 
 “Net
Income” is, as calculated on a consolidated basis for Borrower and its Subsidiaries, if any, 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. 
 “Non-formula Advance” or “Non-formula Advances”
is an advance (or advances) under the Non-formula Revolving Line. 
 “Non-formula Availability Amount” is an
amount equal to (a) the Non-formula Revolving Line minus (b) the outstanding principal balance of any Non-formula Advances. 
 “Non-formula Revolving Line” is a Non-formula Advance or Non-formula Advances in an aggregate amount not to exceed Five Million Dollars ($5,000,000.00) outstanding at any time.

 “Non-formula Revolving Line Maturity Date” is October
            , 2015. 
 “Obligations” are
Borrower’s obligation to pay when due any debts, principal, interest, Bank Expenses and other amounts Borrower owes Bank now or later, whether under this Agreement, the Loan Documents or otherwise (excluding, however, Borrower’s
obligations to Bank under the Subordinated Loan Agreement and the documents and agreements entered into solely with respect to the Subordinated Loan Agreement), including, without limitation, all obligations relating to Letters of Credit (including
reimbursement obligations for drawn and undrawn Letters of Credit), cash management services, and foreign exchange contracts, if any, (including any amounts under any Bank Services Facility) and including interest accruing after Insolvency
Proceedings begin and debts, liabilities, or obligations of Borrower assigned to Bank, and to perform Borrower’s duties under the Loan Documents. For the sake of clarity, any of Borrower’s obligations arising solely under the Subordinated
Loan Agreement (and the documents and agreements entered into solely with respect to the Subordinated Loan Agreement including, without limitation, the Warrant (as defined in the Subordinated Loan Agreement)) shall not constitute an
“Obligation” under this Agreement. 
 “Operating Documents” are, for any Person, such Person’s
formation documents, as certified with the Secretary of State of such Person’s state of formation on a date that is no earlier than 30 days prior to the Effective Date, and, (a) if such Person is a corporation, its bylaws in current form,
(b) if such Person is a limited liability company, its limited liability company agreement, memorandum and articles of association (or similar agreement), and (c) if such Person is a partnership, its partnership agreement (or similar
agreement), each of the foregoing with all current amendments or modifications thereto. 
 “Patents” means all
patents, patent applications and like protections including without limitation improvements, divisions, continuations, renewals, reissues, extensions and continuations-in-part of the same. 

“Payment” means all checks, wire transfers and other items of payment received by Bank (including proceeds of Accounts
and payment of all the Obligations in full) for credit to Borrower’s outstanding Credit Extensions or, if the balance of the Credit Extensions has been reduced to zero, for credit to its Deposit Accounts. 

“Payment/Advance Form” is that certain form attached hereto as Exhibit C. 

“Perfection Certificate” is defined in Section 5.1. 

“Permitted Indebtedness” is: 
 (g) Borrower’s Indebtedness to Bank under this Agreement and the other Loan Documents; 
 (h) Indebtedness existing on the Effective Date and shown on the Perfection Certificate; 

  
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 (i) Subordinated Debt, if any; 

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

(k) Indebtedness secured by Liens permitted under clauses (a) and (c) of the definition of “Permitted Liens”
hereunder; 
 (l)(i) (X) unsecured Indebtedness of any Subsidiary owed to a Loan Party plus (Y) unsecured guarantee
obligations of Borrower with respect to leases or commercial contacts of any other Borrower or any Subsidiary entered into in the ordinary course of business, in an aggregate amount for all such Indebtedness permitted pursuant to this clause (i),
together with Investments permitted in connection with clause (d) of the definition of “Permitted Investments”, not to exceed Five Million Five Hundred Thousand Dollars ($5,500,000.00) in the aggregate for any trailing three-month
period, for reasonable operating expenses and capital expenditures of such Borrower or Subsidiaries incurred in the ordinary course of business, in amounts and in a manner consistent with past practices, (ii) Indebtedness of any Borrower owing
to any other Borrower and (iii) Indebtedness of any Subsidiary (which is not a Loan Party) to any other Subsidiary (which is not a Loan Party); 
 (m) Indebtedness of Borrower to Bank under the Subordinated Loan Agreement and related documents and agreements; 
 (n) Indebtedness incurred as a result of endorsing negotiable instruments received in the ordinary course of business; 
 (o) Subject to Section 6.5, current and deferred taxes; 
 (p) extensions,
refinancings, modifications, amendments and restatements of any items of Permitted Indebtedness (a) through (i) above, provided that the principal amount thereof is not increased or the terms thereof are not modified to impose more
burdensome terms upon Borrower or its Subsidiary, as the case may be; and 
 (q) other unsecured Indebtedness in an amount not
to exceed Twenty Five Thousand Dollars ($25,000.00). 
 “Permitted Investments” are: 

(r) Investments shown on the Perfection Certificate and existing on the Effective Date; 

(s) Cash Equivalents; 
 (t) Investments consisting of the endorsement of negotiable instruments for deposit or collection or similar transactions in the ordinary course of Borrower’s business; 

(u)(i) Investments by a Loan Party in any Subsidiary, in an aggregate amount for all such Investments, together with Indebtedness
permitted in connection with clause (f) of the definition of “Permitted Indebtedness”, not to exceed Five Million Five Hundred Thousand Dollars ($5,500,000.00) in the aggregate for each trailing three-month period, for reasonable
operating expenses and capital expenditures of such Borrower or Subsidiaries incurred in the ordinary course of business, in amounts and in a manner consistent with past practices, (ii) Investments by any Borrower in any other Borrower and
(iii) Investments by any Subsidiary in any Loan Party; 
 (v) Investments consisting of (i) travel advances and
employee relocation loans and other employee loans and advances in the ordinary course of business, and (ii) loans to employees, officers or directors relating to the purchase of equity securities of Borrower or its Subsidiaries pursuant to
employee stock purchase plans or agreements approved by Borrower’s board of directors; 
 (w) Investments (including debt
obligations) received in connection with the bankruptcy or reorganization of customers or suppliers and in settlement of delinquent obligations of, and other disputes with, customers or suppliers arising in the ordinary course of business;

  
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 (x) Investments consisting of notes receivable of, or prepaid royalties and other credit
extensions, to customers and suppliers who are not Affiliates, in the ordinary course of business; provided that this paragraph (g) shall not apply to Investments of Borrower in any Subsidiary; 

(y) Investments consisting of deposit accounts in which Bank has a perfected security interest; 

(z) Investments accepted in connection with Transfers permitted by Section 7.1; 

(aa) Investments in connection with transactions permitted pursuant to Section 7.3; and 

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

“Permitted Liens” are: 
 (cc) Liens existing on the Effective Date and shown on the Perfection Certificate or arising under this Agreement and the other Loan Documents; 

(dd) Liens for taxes, fees, assessments or other government charges or levies, either (i) not due and payable or (ii) being
contested in good faith and for which Borrower maintains adequate reserves on its Books, provided that no notice of any such Lien has been filed or recorded under the Internal Revenue Code of 1986, as amended, and the Treasury Regulations
adopted thereunder; 
 (ee) purchase money Liens (i) on Equipment acquired or held by Borrower incurred for financing the
acquisition of the Equipment securing no more than Two Hundred Fifty Thousand Dollars ($250,000.00) in the aggregate amount outstanding, or (ii) existing on Equipment when acquired, if the Lien is confined to the property and improvements and
the proceeds of the Equipment; 
 (ff) Liens of carriers, warehousemen, suppliers, landlords or other Persons that are
possessory in nature arising in the ordinary course of business so long as such Liens are not delinquent or remain payable without penalty or which are being contested in good faith and by appropriate proceedings which proceedings have the effect of
preventing the forfeiture or sale of the property subject thereto; 
 (gg) Liens to secure payment of workers’
compensation, employment insurance, old-age pensions, social security and other like obligations incurred in the ordinary course of business (other than Liens imposed by ERISA); 

(hh) Liens incurred in the extension, renewal or refinancing of the indebtedness secured by Liens described in (a) through (c), but
any extension, renewal or replacement Lien must be limited to the property encumbered by the existing Lien and the principal amount of the indebtedness may not increase; 
 (ii) leases or subleases of real property granted in the ordinary course of business, and leases, subleases, non-exclusive licenses or sublicenses of property (other than real property or Intellectual
Property) granted in the ordinary course of Borrower’s business, if the leases, subleases, licenses and sublicenses do not prohibit granting Bank a security interest; 
 (jj) Liens granted by Borrower to Bank under the Subordinated Loan Agreement and related documents and agreements; 
 (kk) non-exclusive license of Intellectual Property granted to third parties in the ordinary course of business; 
 (ll) Liens arising from judgments, orders, decrees or attachments in circumstances not constituting an Event of Default under Section 8.4 or 8.7; 

  
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 (mm) Easements, rights of way, covenants, restrictions, reservations, exceptions and other
similar restrictions and encumbrances or title defects, in each case incurred in the ordinary course of business which, in the aggregate, do not materially detract from the value or usefulness of the property subject thereto or materially interfere
with the ordinary conduct of business of Borrower; and 
 (nn) Liens in favor of other financial institutions arising in
connection with Borrower’s deposit and/or securities accounts held at such institutions; provided that (except as otherwise permitted in Section 6.8(b)) Bank has a perfected security interest in the amounts held in such
deposit and/or securities accounts. 
 “Person” is any individual, sole proprietorship, partnership, limited
liability company, joint venture, company, trust, unincorporated organization, association, corporation, institution, public benefit corporation, firm, joint stock company, estate, entity or government agency. 

“Prime Rate” means the rate of interest published in the “Money Rates” section of The Wall Street
Journal, Eastern Edition as the “United States Prime Rate.” In the event that The Wall Street Journal, Eastern Edition is not published or such rate does not appear in The Wall Street Journal, Eastern Edition, the Prime
Rate shall be determined by Bank until such time as the Prime Rate becomes available in accordance with past practices. 

“Registered Organization” is any “registered organization” as defined in the Code with such additions to such
term as may hereafter be made. 
 “Requirement of Law” is as to any Person, the organizational or governing
documents of such Person, and any law (statutory or common), treaty, rule or regulation or determination of an arbitrator or a court or other Governmental Authority, in each case applicable to or binding upon such Person or any of its property or to
which such Person or any of its property is subject. 
 “Reserves” means, as of any date of determination, such
amounts as Bank, after notice and consultation with Borrower, may from time to time establish and revise in good faith reducing the amount of Advances, Letters of Credit and other financial accommodations which would otherwise be available to
Borrower under the lending formulas: (a) to reflect events, conditions, contingencies or risks which, as determined by Bank in good faith, do or may affect (i) the Collateral or any other property which is security for the Obligations or
its value (including without limitation any increase in delinquencies of Accounts), (ii) the assets or business of Borrower or any guarantor, or (iii) the security interests and other rights of Bank in the Collateral (including the
enforceability, perfection and priority thereof); or (b) to reflect Bank’s good faith belief that any collateral report or financial information furnished by or on behalf of Borrower or any guarantor to Bank is or may have been incomplete,
inaccurate or misleading in any material respect; or (c) in respect of any state of facts which Bank determines in good faith constitutes an Event of Default or may, with notice or passage of time or both, constitute an Event of Default.

 “Responsible Officer” is any of the Chief Executive Officer, President, Chief Financial Officer and
Controller of Borrower. 
 “Restricted License” is any material license or other agreement with respect to
which Borrower is the licensee (a) that prohibits or otherwise restricts Borrower from granting a security interest in Borrower’s interest in such license or agreement or any other property, or (b) for which a default under or
termination of could interfere with the Bank’s right to sell any Collateral. 
 “Revolving Line” is an
Advance or Advances in an amount not to exceed Fifteen Million Dollars ($15,000,000.00) outstanding at any time. 

“Revolving Line Maturity Date” is October         , 2015. 

“SEC” shall mean the Securities and Exchange Commission, any successor thereto, and any analogous Governmental
Authority. 
 “Securities Account” is any “securities account” as defined in the Code with such
additions to such term as may hereafter be made. 

  
 -35-

 “Settlement Date” is defined in Section 2.1.4.

 “Streamline Period” is, on and after the Effective Date, provided no Default or Event
of Default has occurred and is continuing, the period (i) beginning on the first (1st) day in which Borrower has, for each consecutive day in the immediately preceding sixty (60) day period, maintained Tangible Net Worth, in an amount at all times greater than Fourteen Million
Five Hundred Thousand Dollars ($14,500,000), as determined by Bank, in its sole discretion (the “Streamline Balance”); and (ii) ending on the earlier to occur of (A) the occurrence of a Default or an Event of Default; and
(B) the first day thereafter in which Borrower fails to maintain the Streamline Balance, as determined by Bank, in its sole discretion. Upon the termination of a Streamline Period, Borrower must maintain the Streamline Balance each consecutive
day for sixty (60) consecutive days, as determined by Bank, in its sole discretion, prior to entering into a subsequent Streamline Period. Borrower shall give Bank prior-written notice of Borrower’s intention to enter into any such
Streamline Period. 
 “Subordinated Debt” is (i) Indebtedness incurred pursuant to the Subordinated Loan
Agreement and (ii) indebtedness incurred by Borrower subordinated to all of Borrower’s now or hereafter indebtedness to Bank (pursuant to a subordination, intercreditor, or other similar agreement in form and substance satisfactory to Bank
entered into between Bank and the other creditor), on terms acceptable to Bank. 
 “Subordinated Loan
Agreement” is that certain Subordinated Loan and Security Agreement dated as of October    , 2012 by and between Bank and Borrower, as may be amended from time to time. 

“Subsidiary” is, as to any Person, (a) a corporation, partnership, limited liability company or other entity of
which shares of stock or other ownership interests having ordinary voting power (other than stock or such other ownership interests having such power only by reason of the happening of a contingency) to elect a majority of the board of directors or
other managers of such corporation, partnership or other entity are at the time owned, or the management of which is otherwise controlled, directly or indirectly through one or more intermediaries, or both, by such Person, (b) a subsidiary as
defined in Section 1159 of the U.K. Companies Act 2006, or (c) unless the context otherwise requires, a subsidiary undertaking within the meaning of Section 1162 of the U.K. Companies Act 2006. Unless the context otherwise requires,
each reference to a Subsidiary herein shall be a reference to a Subsidiary of Borrower or Guarantor. 
 “Tangible Net
Worth” is, on any date, the consolidated total assets of Borrower and its Subsidiaries minus (a) any amounts included in such assets attributable to (i) goodwill, (ii) intangible items including unamortized debt
discount and expense, Patents, Trademarks, Copyrights, and research and development expenses except prepaid expenses, (iii) notes, accounts receivable and other obligations owing to Borrower from its officers or other Affiliates, and
(iv) reserves not already deducted from assets, minus (b) Total Liabilities. 
 “Total
Liabilities” is on any day, obligations that should, under GAAP, be classified as liabilities on Borrower’s consolidated balance sheet, including all Indebtedness. 

“Trademarks” means any trademark and servicemark rights, whether registered or not, applications to register and
registrations of the same and like protections, and the entire goodwill of the business of Borrower connected with and symbolized by such trademarks. 
 “Transaction Report” is the Bank’s standard reporting package provided by Bank to Borrower. 
 “Transfer” is defined in Section 7.1. 
 “Unused
Revolving Line Facility Fee” is defined in Section 2.4(d). 
 [Signature page follows.] 

  
 -36-

 IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be executed as
of the Effective Date. 
  

			
	BORROWER:
	
	MAVENIR SYSTEMS, INC.
		
	By	 	 /s/ Terry Hungle

	Name:	 	Terry Hungle
	Title:	 	Chief Financial Officer
	
	MAVENIR HOLDINGS, INC.
		
	By	 	 /s/ Terry Hungle

	Name:	 	Terry Hungle
	Title:	 	Secretary and Chief Financial Officer
	
	BANK:
	
	SILICON VALLEY BANK
		
	By	 	 /s/ Jennifer Bentley

	Name:	 	Jennifer Bentley
	Title:	 	Relationship Manager

  
 [Signature
page to Senior Loan and Security Agreement] 

 EXHIBIT A – COLLATERAL DESCRIPTION 

The Collateral consists of all of Borrower’s right, title and interest in and to the following personal property: 

All goods, Accounts (including health-care receivables), Equipment, Inventory, contract rights or rights to payment of money, leases,
license agreements, franchise agreements, General Intangibles, commercial tort claims, documents, instruments (including any promissory notes), chattel paper (whether tangible or electronic), cash, deposit accounts, fixtures, letters of credit
rights (whether or not the letter of credit is evidenced by a writing), securities, and all other investment property, supporting obligations, and financial assets, whether now owned or hereafter acquired, wherever located; and 

all Borrower’s Books relating to the foregoing, and any and all claims, rights and interests in any of the above and all
substitutions for, additions, attachments, accessories, accessions and improvements to and replacements, products, proceeds and insurance proceeds of any or all of the foregoing. 

Notwithstanding the foregoing, the Collateral does not include any Excluded Property. 

  
 1 

 EXHIBIT B 

COMPLIANCE CERTIFICATE 
  

									
	TO:	 	SILICON VALLEY BANK	 		 	Date:	 	  

	FROM:	 	MAVENIR SYSTEMS, INC.	 		 		 	

 The undersigned authorized officer of MAVENIR SYSTEMS, INC. (“Borrower”)
certifies that under the terms and conditions of the Senior Loan and Security Agreement between Borrower and Bank (the “Agreement”), (1) Borrower is in complete compliance for the period ending
            with all required covenants except as noted below, (2) there are no Events of Default, (3) all representations and warranties in the Agreement are true and correct in
all material respects on this date except as noted below; provided, however, that such materiality qualifier shall not be applicable to any representations and warranties that already are qualified or modified by materiality in the
text thereof; and provided, further that those representations and warranties expressly referring to a specific date shall be true, accurate and complete in all material respects as of such date, (4) Borrower has timely filed all required tax
returns and reports, and Borrower has timely paid all foreign, federal, state and local taxes, assessments, deposits and contributions owed by Borrower except as otherwise permitted pursuant to the terms of Section 5.9 of the Agreement, and
(5) no Liens have been levied or claims made against Borrower or any of its Subsidiaries, if any, relating to unpaid employee payroll or benefits of which Borrower has not previously provided written notification to Bank. Attached are the
required documents supporting the certification. The undersigned certifies that these are prepared in accordance with GAAP consistently applied from one period to the next except as explained in an accompanying letter or footnotes. The undersigned
acknowledges that no borrowings may be requested at any time or date of determination that Borrower is not in compliance with any of the terms of the Agreement, and that compliance is determined not just at the date this certificate is delivered.
Capitalized terms used but not otherwise defined herein shall have the meanings given them in the Agreement. 
 Please indicate compliance
status by circling Yes/No under “Complies” column. 
  

					
	 Reporting Covenant
	  	 Required
	  	 Complies

	 Monthly financial statements (including income statement and statement of cash flows) with Compliance Certificate
	  	Monthly within 30 days	  	Yes    No
	 Annual financial statement (CPA Audited) + CC
	  	FYE within 150 days	  	Yes    No
	 10-Q, 10-K and 8-K
	  	Within 5 days after filing with SEC	  	Yes    No
	 A/R & A/P Agings
	  	Monthly within 20 days	  	Yes    No
	 Transaction Reports
	  	Weekly and with each Credit Extension (Monthly within 20 days under Streamline)	  	Yes    No
	 Projections/Operating Budgets
	  	Earlier of (i) 15 days after approval by board of directors or (ii) January 31st of each fiscal year	  	Yes    No

 The following Intellectual Property was registered after the Effective Date (if no registrations, state “None”)

  
  

 

													
	 Financial Covenant
	  	Required	 	  	Actual	 	  	Complies	 
	 Maintain as indicated:
	  				  				  			
	 Minimum Tangible Net Worth
	  	 	11,500,000	  	  	$	            	  	  	 	Yes    No	  

  
 1 

					
	 Streamline Reporting
	  	Applies	 
	 Tangible Net Worth 3 $14,500,000
	  	 	Yes    No	  
	 Tangible Net Worth < $14,500,000
	  	 	Yes    No	  

 The following financial covenant analyses and information set forth in Schedule 1 attached hereto are
true and accurate as of the date of this Certificate. 
 The following are the exceptions with respect to the certification
above: (If no exceptions exist, state “No exceptions to note.”) 
  

 
  

 
  

 
  

											
	MAVENIR SYSTEMS, INC.	 		 	BANK USE ONLY
					
	By:	 	  
	 		 	Received by:	 	  

	Name:	 	  
	 		 		 	AUTHORIZED SIGNER
	Title:	 	  
	 		 	Date:	 	  

					
		 		 		 	Verified:	 	  

		 		 		 		 	AUTHORIZED SIGNER
		 		 		 	Date:	 	  

				
		 		 		 	Compliance Status:            Yes    No

  
 2 

 Schedule 1 to Compliance Certificate 

Financial Covenants of Borrower 
 In the event of a conflict between this Schedule and the Loan Agreement, the terms of the Loan Agreement shall govern. 
 Dated:
                                 

I. Tangible Net Worth (Section 6.9) 

Required:             Borrower shall maintain at all times, to be tested as of the last day of
each month, on a consolidated basis with respect to Borrower and its Subsidiaries, a Tangible Net Worth of at least Eleven Million Five Hundred Thousand Dollars ($11,500,000), increasing by (i) fifty percent (50%) of the net proceeds from
the issuance of equity, and (ii) twenty-five percent (25%) of quarterly Net Income. 
 Actual: 

 

							
	 A.
	  	Aggregate value of total assets of Borrower and its Subsidiaries	  	 	$_________	  
			
	 B.
	  	Aggregate value of goodwill of Borrower and its Subsidiaries*	  	 	$_________	  
			
	 C.
	  	Aggregate value of intangible assets of Borrower and its Subsidiaries*	  	 	$_________	  
			
	 D.
	  	Aggregate value of any reserves not already deducted from assets*	  	 	$_________	  
			
	 E.
	  	Total Liabilities	  	 	$_________	  
			
	 E.
	  	Tangible Net Worth (line A minus line B minus line C minus line D minus line E)	  	 	$_________	  

 Is line F equal to or greater than $11,500,000? 

 

			
	              No, not in compliance
	  	              Yes, in compliance

  

	*	To the extent included in Line A. 

  
 3 

 EXHIBIT C 
 LOAN PAYMENT/ADVANCE REQUEST FORM 
 DEADLINE
FOR SAME DAY PROCESSING IS NOON P.S.T. 
  

					
	Fax To:	 	Date:	 	  

 LOAN PAYMENT: 

MAVENIR SYSTEMS, INC. 
  

							
	 From Account #
	 	  
	    	To Account #	 	  

		 	(Deposit Account #)	    		 	(Loan Account #)
				
	 Principal $
	 	  
	    	and/or Interest $	 	  

				
	 Authorized Signature:
	 	  
	    	Phone Number:	 	  

	 Print Name/Title:
	 	  
	    		 	

 LOAN ADVANCE: 
 Complete Outgoing Wire Request section below if all or a portion of the funds from this loan advance are for an outgoing wire. 

 

							
	 From Account #
	 	  
	    	To Account #	 	  

		 	(Loan Account #)	    		 	(Deposit Account #)

  

					
	Amount of Non-formula Advance $	 	  
	  	

 All Borrower’s representations and warranties in the Senior Loan and Security Agreement are true, accurate and
complete in all material respects on the date of the request for an advance; provided, however, that such materiality qualifier shall not be applicable to any representations and warranties that already are qualified or modified by
materiality in the text thereof; and provided, further that those representations and warranties expressly referring to a specific date shall be true, accurate and complete in all material respects as of such date: 

 

							
	 Authorized Signature:
	 	  
	    	Phone Number:	 	  

	 Print Name/Title:
	 	  
	    		 	

 OUTGOING WIRE REQUEST: 

Complete only if all or a portion of funds from the loan advance above is to be wired. 
 Deadline for same day processing is noon, P.S.T. 
  

							
	Beneficiary Name:	 	  
	    	Amount of Wire: $	 	  

	Beneficiary Bank:	 	  
	    	Account Number:	 	  

	City and State:	 	  
	    		 	

  

							
	Beneficiary Bank Transit (ABA) #:	 	  
	    	Beneficiary Bank Code (Swift, Sort, Chip, etc.):	 	  

		 		    	 (For International Wire Only)
	 	

  

							
	Intermediary Bank:	 	  
	    	Transit (ABA) #:	 	  

	For Further Credit to:	 	  

		
	Special Instruction:	 	  

 By signing below, I (we) acknowledge and agree that my (our) funds transfer request shall be processed in accordance
with and subject to the terms and conditions set forth in the agreements(s) covering funds transfer service(s), which agreements(s) were previously received and executed by me (us). 

 

							
	Authorized Signature:	 	  
	    	2nd Signature (if required):	 	  

	Print Name/Title:	 	  
	    	Print Name/Title:	 	  

  
 1

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