Document:

EX-10.10

 Exhibit 10.10 

EXECUTION VERSION 
 AMENDED AND
RESTATED LOAN AND SECURITY AGREEMENT 
 This AMENDED AND RESTATED LOAN AND SECURITY AGREEMENT, dated as of December 16, 2014
(this “Loan Agreement”), is entered by and between AQUANTIA CORP., a Delaware corporation (“Borrower”); and PINNACLE VENTURES, L.L.C. as agent (“Agent”) for the
lenders identified on Schedule 1 hereto (such lenders, together with their respective successors and assigns are referred to hereinafter each individually as a “Lender” and collectively as the
“Lenders”), and the Lenders. Capitalized terms used and not otherwise defined in this Loan Agreement shall have the respective meanings given to such terms in Article 10. 

In consideration of the covenants, conditions and agreements set forth herein and intending to be legally bound, the parties agree as follows:

  

	Article 1.	THE LOANS. 

 Section 1.01 Commitment. 

 

	 	(a)	Tranche 1 Commitment. Pursuant to the Original Loan Agreement, the Lenders advanced to Borrower (the “Tranche 1 Advance”) on April 5, 2013, a term loan in an aggregate principal
amount of Fifteen Million Dollars ($15,000,000). Borrower may prepay the Tranche 1 Advance in accordance with Section 1.02(e)(i). 

  

	 	(b)	Tranche 2 Commitment. Subject to the terms and conditions of this Loan Agreement, the Lenders agree to advance to Borrower (the “Tranche 2 Advance”, and together with the Tranche 1
Advance, each an “Advance”) on or within 1 Business Day of Closing, a term loan in an aggregate principal amount of Eight Million Eight Hundred Thousand Dollars ($8,800,000). Borrower may prepay the Tranche 2 Advance in
accordance with Section 1.02(e)(ii). 

 Section 1.02 Interest and Payments. 

 

	 	(a)	Interest. 

  

	 	(i)	Tranche 1 Advance. 

  

	 	1)	From the date of such Advance through December 31, 2014 Borrower shall pay interest in advance on the unpaid principal amount of the Tranche 1 Advance at a per annum rate of interest equal to the greater of:
(A) the Prime Rate determined as of the date of such Advance plus nine hundred twenty-five (925) basis points or (B) twelve and one-half percent (12.5%), based on a year of 360 days and actual days elapsed, such interest to be fixed
on the date of such Advance. 

  

	 	2)	From January 1, 2015 until such Advance is paid in full Borrower shall pay interest in arrears on the unpaid principal amount of the Tranche 1 Advance at a per annum rate of interest equal to the greater of:
(A) the Prime Rate determined as of fifteen (15) days before the date of the applicable payment plus five hundred fifty (550) basis points or (B) eight and 3/4 percent (8.75%), based on a year of 360 days and actual days elapsed.

  

	 	(ii)	Tranche 2 Advance. Borrower shall pay interest in arrears on the unpaid principal amount of the Tranche 2 Advance from the date of such Advance until such Advance is paid in full at a variable per annum rate of
interest equal to the greater of: (A) the Prime Rate determined as of fifteen (15) days before the date of the applicable payment plus five hundred fifty (550) basis points or (B) eight and 3/4 percent (8.75%), based on a year of
360 days and actual days elapsed. 

  

	 	(iii)	If Borrower pays interest on any Advance which is determined to be in excess of the then legal maximum rate, then that portion of each interest payment representing an amount in excess of the then legal maximum rate
shall be deemed a payment of principal and applied against the principal of such Advance. 

	 	(b)	Payments of Principal and Interest. 

  

	 	(i)	Tranche 1 Advance. For the Tranche 1 Advance, Borrower shall make monthly payments of interest only (payable in advance) on the first Business Day of each month after the Funding Date (each, a “Payment
Date”) through December 31, 2014 (the “Tranche 1 Interest Only Period”). Beginning January 1, 2015, Borrower shall make fifteen (15) monthly payments of interest only (payable in arrears) on each
Payment Date (the “Tranche 1 Additional Interest Only Period”). Thereafter, Borrower shall make twenty-seven (27) equal payments of principal and interest on each Payment Date until such Advance is paid in full (the
“Tranche 1 Amortization Period”). The amount of each such payment shall be sufficient to fully amortize the principal and interest due on the applicable Advance over such Tranche 1 Amortization Period. 

 

	 	(ii)	Tranche 2 Advance. For the Tranche 2 Advance, Borrower shall make fifteen (15) monthly payments of interest only (payable in arrears) on each Payment Date (the “Tranche 2 Interest Only
Period”). Thereafter, Borrower shall make twenty-seven (27) equal payments of principal and interest (payable in arrears) on each Payment Date until the Tranche 2 Advance is paid in full (the “Tranche 2 Amortization
Period”). The amount of each such payment shall be sufficient to fully amortize the principal and interest due on the applicable Tranche 2 Advance over such Tranche 2 Amortization Period. 

 

	 	(iii)	Extended Interest-Only Period. If the Performance Milestone is achieved, for the Tranche 1 Advance and Tranche 2 Advance, the Tranche 1 Additional Interest Only Period and the Tranche 2 Interest Only Period shall
be extended to eighteen (18) monthly payments, and the Tranche 1 Amortization Period and the Tranche 2 Amortization Period shall be shortened to twenty-four (24) equal payments of principal and interest. The amount of each such payment
shall be sufficient to fully amortize the principal and interest due on the applicable Advance over such twenty-four (24) month period. 

  

	 	(c)	Interim Interest Payment. For each Advance, unless the Funding Date is a Payment Date, Borrower shall make a payment of interest on the Funding Date for the period from the Funding Date to the first Payment Date.

  

	 	(d)	Final Payment. On July 1, 2018 (the “Maturity Date”), Borrower shall pay to Agent, all remaining unpaid principal and accrued interest and all other amounts previously due with
respect to all Advances, plus an amount equal to $1,535,100 (the “Final Payment”). If the Tranche 1 Advance and the Tranche 2 Advance are fully funded at Closing and are not prepaid prior to the Maturity Date, Agent will
credit to Borrower $238,000, such that Borrower’s final payment in full of the Obligations will be reduced by such amount. 

  

	 	(e)	Prepayment. 

  

	 	(i)	Voluntary Prepayment. Upon seven (7) Business Days’ prior written notice to Agent, Borrower may, at its option, at any time, prepay all and not less than all of the Advances, in an amount equal to the
outstanding principal amounts Advances, plus accrued and unpaid interest thereon through and including the date of such prepayment, plus the Final Payment, plus any other amounts then due to Lenders; provided, that if any such Advances are prepaid
(i) on or prior to the date that is 2 years after Closing, there will be a 2.0% premium on the outstanding principal amount payable in conjunction with the prepayment, and (ii) after the date that is 2 years after Closing, there will be a
1.0% premium on the outstanding principal amount payable in conjunction with the prepayment (the “Voluntary Prepayment Premium”). 

  
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	 	(ii)	Mandatory Prepayment on Change of Control. Upon an acquisition of Borrower by a “person” (as such term is used in Section 13(d) and 14(d) of the Securities Exchange Act of 1934), whether by merger or
consolidation, or a transaction or series of transactions pursuant to which the holders of Borrower’s voting Equity Securities immediately prior to such transaction or series of transactions do not hold at least 50% of the voting power of
Borrower or any resulting company after such transaction or transactions, or the sale of all or substantially all of Borrower’s assets (a “Change of Control”), Borrower shall prepay the Advances, in an amount equal to the outstanding
principal amounts Advances, plus accrued and unpaid interest thereon through and including the date of such prepayment, plus the Final Payment, plus any other amounts then due to Agent or Lenders; provided, that if any such Advances are prepaid
(i) on or prior to the date that is 2 years after Closing, there will be a 2.0% premium on the outstanding principal amount payable in conjunction with the prepayment, and (ii) after the date that is 2 years after Closing, there will be a
1.0% premium on the outstanding principal amount payable in conjunction with the prepayment (the “Mandatory Prepayment Premium”). 

  

	 	(iii)	Reduction for Warrant Gain. Notwithstanding anything in this Section 1.02(e), should the Lenders realize an aggregate minimum return of 300.00% on the Warrants as of the time of any prepayment, then there
shall be no Voluntary Prepayment Premium or Mandatory Prepayment Premium payable in connection with such prepayment. 

 Section 1.02
Use of Proceeds; the Advances and the Notes; Disbursement. 
  

	 	(a)	Use of Proceeds. The proceeds of the Advances shall be used for general corporate purposes. 

  

	 	(b)	The Advances and the Notes. The obligation of Borrower to repay the aggregate unpaid principal amount of and interest on each Advance shall be evidenced by Notes setting forth the principal amount of such Advance
and the payments due. Agent shall keep a record of the payments made under each Note on its books which records shall be prima facie evidence of the amounts paid under the Notes absent manifest error. Any failure by Agent to obtain or retain such a
Note shall not limit or otherwise affect the obligations of Borrower to pay amounts due hereunder with respect to an Advance. 

  

	 	(c)	Notice and Disbursement. Whenever Borrower desires Lenders to make an Advance, Borrower shall notify Agent in writing at least fifteen (15) Business Days in advance of the desired Funding Date,
which notice shall be irrevocable. Lenders’ obligation to make Advances shall be subject to the satisfaction of the conditions set forth in Section 3.01(b). Lenders shall have the right to request that Borrower
furnish Lenders with such additional information with respect to the Advance as Lenders shall reasonably request. Subject to the satisfaction of the conditions set forth in this Loan Agreement, each Lender shall disburse its pro
rata portion of each Advance to the account of Borrower as specified in Section 9.06. 

 Section 1.03 Other Payment
Terms. 
  

	 	(a)	Place and Manner. All regularly scheduled payments due to the Lenders shall be effected by automatic debit of the appropriate funds from Borrower’s Primary Operating Account. Borrower shall make all other
payments due to the Lenders in lawful money of the United States, in immediately available funds, at the address for payments specified in Section 9.06. 

  

	 	(b)	Date. Whenever any payment due hereunder shall fall due on a day other than a Business Day, such payment shall be made on the next succeeding Business Day, and such extension of time shall be included in the
computation of interest or fees, as the case may be. 

  

	 	(c)	Default Rate. If any amounts required to be paid by Borrower under this Loan Agreement or the other Transaction Documents (including principal or interest payable on the Advance, any fees or other amounts) remain
unpaid after such amounts are due, Borrower shall pay interest on the aggregate, outstanding principal balance hereunder from the date due until such past due amounts are paid in full, at a per annum rate equal to the Default Rate. All computations
of such interest shall be based on a year of 360 days and actual days elapsed. 

  
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	 	(d)	Legal and Due Diligence Costs. Borrower shall reimburse Lender for Lender’s costs and expenses, including reasonable legal fees incurred in preparing and negotiating the Transaction Documents and travel
expenses incurred in performing due diligence. 

  

	 	(e)	Commitment Fee. Agent has received a commitment fee from Borrower in the amount of Five Hundred Thirty Eight Thousand ($538,000) (the “Commitment Fee”). The Commitment Fee is fully earned
and will be retained by Agent. 

  

	Article 2.	CREATION OF SECURITY INTEREST. 

 Section 2.01 Grant of Security Interest. Borrower
grants and pledges to Agent on behalf of all Lenders a continuing security interest in all presently existing and hereafter acquired or arising Collateral in order to secure prompt payment of any and all Obligations and in order to secure prompt
performance by Borrower of each of its covenants and duties under the Transaction Documents. Such security interest constitutes a valid, first priority security interest, subject to Permitted Liens, in the presently existing Collateral, and will
constitute a valid, first priority security interest, subject to Permitted Liens, in Collateral acquired after the date hereof. Notwithstanding termination of this Loan Agreement, Agent’s Lien on the Collateral shall remain in effect for so
long as any Obligations (other than inchoate indemnity obligations) are outstanding. 
 Section 2.02 Liabilities Unconditional. Borrower
is and shall remain absolutely and unconditionally liable for the performance of its obligations under the Transaction Documents, including without limitation any deficiency by reason of the failure of the Collateral to satisfy all amounts due to
Agent or the Lenders under any Transaction Document. 
  

	Article 3.	CLOSING. 

 Section 3.01 Conditions Precedent. The obligation of Lenders to fund an
Advance shall be subject to the following conditions precedent: 
  

	 	(a)	Conditions to Closing. Agent shall have received in connection with the Closing in form and substance satisfactory to Agent: 

  

	 	(i)	This Loan Agreement, duly executed by Borrower; 

  

	 	(ii)	Copies, certified by the Secretary or Assistant Secretary of Borrower, of: (A) the Certificate of Incorporation and Bylaws of Borrower (as amended to the date of this Loan Agreement), (B) the resolutions
adopted by Borrower’s board of directors authorizing the transaction and the documents being executed in connection therewith, and (C) the incumbency of the officers executing this Loan Agreement and the other Transaction Documents on
behalf of Borrower. 

  

	 	(iii)	Good Standing Certificate(s) (including tax status if available) with respect to Borrower from Borrower’s state of incorporation and principal place of business, if different, (each) as of a date acceptable to
Agent. 

  

	 	(iv)	Evidence of the insurance coverage required by Section 5.06 of this Loan Agreement. 

  

	 	(v)	All necessary consents of shareholders and other third parties with respect to the subject matter of the Loan Agreement and the other documents being executed in connection therewith. 

 

	 	(vi)	A Warrant Purchase Agreement in the form provided by Agent and agreed to by Borrower, duly executed by Borrower. 

  

	 	(vii)	The Warrants to be issued to the designees of the Lenders in forms provided by Agent and agreed to by Borrower, duly executed by Borrower. 

  
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	 	(viii)	A Management Rights Agreement in the form provided by Agent and agreed to by Borrower, duly executed by Borrower. 

  

	 	(ix)	All other documents as Agent shall have reasonably requested. 

  

	 	(x)	A legal opinion of counsel to Borrower in form and substance reasonably satisfactory to Agent. 

  

	 	(xi)	A Subordination Agreement, or an amendment to the existing Subordination Agreement with Silicon Valley Bank, in form and substance reasonably satisfactory to Agent. 

 

	 	(xii)	A landlord waiver in form and substance satisfactory to Agent, from each owner of record of real property at which items of Collateral will be located, setting forth the rights of Agent with respect to such items of
Collateral. 

  

	 	(xiii)	Agreements sufficient to perfect a security interest in Borrower’s deposit accounts and securities accounts as required under Section 5.20, executed by each applicable bank or other financial institution, in
form reasonably acceptable to Agent. 

  

	 	(b)	Conditions to Funding of Each Advance. Prior to the funding of each Advance, the following conditions with respect to such Advance shall have been satisfied by Borrower or waived by Agent: 

 

	 	(i)	Borrower shall have executed and delivered a Note in the form of Exhibit A prepared by Agent setting forth the terms of the Advance. 

 

	 	(ii)	No Event of Default or Default shall have occurred and be continuing. 

  

	 	(iii)	In Agent’s sole discretion, no event or condition shall exist that has had or could be reasonably expected to have a Material Adverse Effect. 

 

	 	(iv)	The representations and warranties contained in this Loan Agreement and the other Transaction Documents to which Borrower is a party shall be true and correct in all material respects as if made on the date of funding
of the Advance and the items listed on any schedule shall be reasonably acceptable to Agent, except to the extent such representations and warranties expressly refer to an earlier date, in which case they shall be true and correct in all material
respects as of such earlier date. 

  

	 	(v)	Each of the Transaction Documents shall be in full force and effect. 

  

	 	(vi)	Borrower shall have provided to Agent such documents, instruments and agreements, including financing statements or amendments to financing statements, as Agent shall reasonably request to evidence the perfection and
priority of the security interests granted to Agent. 

  

	Article 4.	REPRESENTATIONS AND WARRANTIES OF BORROWER. 

 Borrower represents and warrants to Agent that: 

Section 4.01 Due Incorporation, Qualification, etc. Each of Borrower and its Subsidiaries (i) is a corporation duly organized, validly
existing and in good standing under the laws of its state of incorporation; (ii) has the power and authority to own, lease and operate its properties and carry on its business as now conducted; and (iii) is duly qualified, licensed to do
business and in good standing as a foreign corporation in each jurisdiction where the failure to be so qualified or licensed could reasonably be expected to have a Material Adverse Effect. 

Section 4.02 Authority. The execution, delivery and performance by Borrower of each Transaction Document to be executed by Borrower and the
consummation of the transactions contemplated thereby (i) are within the power of Borrower and (ii) have been duly authorized by all necessary actions on the part of Borrower. 

  
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 Section 4.03 Enforceability. Each Transaction Document executed, or to be executed, by
Borrower has been, or will be, duly executed and delivered by Borrower and constitutes, or will constitute, a legal, valid and binding obligation of Borrower, enforceable against Borrower in accordance with its terms, except as limited by
bankruptcy, insolvency or other similar laws of general application relating to or affecting the enforcement of creditors’ rights generally and general principles of equity. 

Section 4.04 Non-Contravention. The execution and delivery by Borrower of the Transaction Documents executed by Borrower and the
performance and consummation of the transactions contemplated thereby do not and will not (i) violate any Requirement of Law applicable to Borrower; (ii) violate any provision of, or result in the breach or the acceleration of, or entitle
any other Person to accelerate (whether after the giving of notice or lapse of time or both), any material Contractual Obligation of Borrower; or (iii) result in the creation or imposition of any Lien upon any property, asset or revenue of
Borrower (except such Liens as may be created in favor of Agent pursuant to this Loan Agreement or the other Transaction Documents). 
 Section 4.05
Approvals. No consent, approval, order or authorization of, or registration, declaration or filing with, any Governmental Authority or other Person (including, without limitation, the shareholders of any Person) is required in connection
with the execution and delivery of the Transaction Documents executed by Borrower and the performance and consummation of the transactions contemplated thereby, except for such consents, approvals, orders, authorizations, registrations, declarations
or filings that have already been obtained. 
 Section 4.06 No Violation or Default. None of Borrower or Borrower’s Subsidiaries is
in violation of or in default with respect to (i) any Requirement of Law; or (ii) any Contractual Obligation (nor is there any waiver in effect which, if not in effect, would result in such a violation or default), where, in each case,
such violation or default, individually, or together with all such violations or defaults, could reasonably be expected to have a Material Adverse Effect. Without limiting the generality of the foregoing, neither Borrower nor Borrower’s
Subsidiaries (A) has violated any Environmental Laws, (B) has any liability under any Environmental Laws or (C) has received notice or other communication of an investigation or is under investigation by any Governmental Authority
having authority to enforce Environmental Laws, where such violation, liability or investigation could reasonably be expected to have a Material Adverse Effect. No Event of Default or Default has occurred and is continuing. 

Section 4.07 Litigation. No actions (including, without limitation, derivative actions), suits, proceedings or investigations are pending
or, to the knowledge of Borrower, threatened against Borrower or Borrower’s Subsidiaries at law or in equity in any court or before any other Governmental Authority which if adversely determined (i) could reasonably be expected (alone or
in the aggregate) to have a Material Adverse Effect or (ii) seeks to enjoin, either directly or indirectly, the execution, delivery or performance by Borrower of the Transaction Documents or the transactions contemplated thereby. 

Section 4.08 Title. Borrower has good and marketable title to all Collateral, free and clear of all Liens, other than Permitted Liens.
Borrower has no other deposit accounts or securities accounts, other than the deposit accounts and securities accounts described in Schedule 2. Except as described in Schedule 2, the Collateral is not in the possession of any third
party bailee (such as at a warehouse). All Inventory is in all material respects of good and marketable quality, free from material defects. 

Section 4.09 Financial Statements. The Financial Statements of Borrower which have been delivered to Agent (i) are in accordance with
the books and records of Borrower and its Subsidiaries, which have been maintained in accordance with good business practice; (ii) have been prepared in conformity with generally accepted accounting principles except for Intel contract
accounting and warrant valuation; and (iii) fairly present in all material respects the consolidated financial position of Borrower as of the dates presented therein and the results of operations, changes in financial positions or cash flows,
as the case may be, for the periods presented therein. As of the date hereof, none of Borrower or any of Borrower’s Subsidiaries has any contingent obligations, liability for taxes or other outstanding obligations which are material in the
aggregate 

  
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and required to be disclosed in financial statements prepared in accordance with generally accepted accounting principles, except as disclosed in the most recent audited Financial Statements
(including the notes thereto) furnished by Borrower to Agent prior to the date hereof. 
 Section 4.10 Taxes. Each of Borrower and its
Subsidiaries has filed or caused to be filed all tax returns or extensions therefor that are required to be filed by it except where the failure to do so could not reasonably be expected to have a Material Adverse Effect. Borrower and
Borrower’s Subsidiaries have paid, or made provision for the payment of, all Taxes which have or may have become due pursuant to said returns or otherwise, except such Taxes, if any, which are being contested in good faith and as to which
adequate reserves (determined in accordance with generally accepted accounting principles) have been provided or which could not reasonably be expected to have a Material Adverse Effect if unpaid. 

Section 4.11 Catastrophic Events; Labor Disputes. Neither Borrower nor Borrower’s Subsidiaries and none of their properties is or has
been affected by any fire, explosion, accident, strike, lockout or other labor dispute, drought, storm, hail, earthquake, embargo, act of God or other casualty that could reasonably be expected to have a Material Adverse Effect. There are no
disputes presently subject to grievance procedure, arbitration or litigation under any of the collective bargaining agreements, employment contracts or employee welfare or incentive plans to which Borrower or Borrower’s Subsidiaries is a party,
and there are no strikes, lockouts, work stoppages or slowdowns, or, to the best knowledge of Borrower, jurisdictional disputes or organizing activity occurring or threatened which could reasonably be expected to have a Material Adverse Effect. 

Section 4.12 No Material Adverse Effect. No event has occurred since December 31, 2012 and no condition exists (excluding general
economic conditions) which could reasonably be expected to have a Material Adverse Effect. 
 Section 4.13 First Priority. Assuming the
timely effecting of appropriate actions such as entry into deposit account control agreements and filing of financing statements covering the Collateral, the security interest granted hereby constitutes a first priority security interest in and Lien
on all of the Collateral, subject only to Permitted Liens. 
 Section 4.14 Principal Place of Business. Borrower is incorporated in the
jurisdiction stated in the first sentence of this Loan Agreement, and the office where Borrower will keep all records and files regarding the Collateral is set forth in Section 9.07. Except as disclosed on Schedule 2, Borrower has
not done business under any name other than that specified on the signature page hereof. All Borrower’s Inventory and Equipment is located only at the locations set forth in Section 9.07 or on Schedule 2 or at such other
locations as are permitted under Section 5.12. 
 Section 4.15 Intellectual Property. Borrower is the sole owner of the Intellectual
Property created by Borrower, except for non-exclusive licenses granted by Borrower to its customers in the ordinary course of business. No part of the Intellectual Property created by Borrower has been judged
invalid or unenforceable, in whole or in part, and no claim has been made that any part of the Intellectual Property created by Borrower violates the rights or any third party. 

Section 4.16 Investments. Borrower does not own any Investments in any Person, except for Permitted Investments. 

 

	Article 5.	COVENANTS OF BORROWER. 

 While any Obligations (other than inchoate indemnity obligations) or unfunded
Commitments remain outstanding: 
 Section 5.01 Financial Statements. Borrower shall provide to Agent the financial statements specified
in this Section 5.01, prepared in accordance with generally accepted accounting principles, consistently applied (except, in the case of unaudited financial statements, for the absence of footnotes and normal year-end adjustments and Intel
contract accounting and warrant valuation); provided, however, that after the effective 

  
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date of the initial registration statement covering a public offering of Borrower’s securities, Borrower shall only be required to deliver those financial statements required to be filed by
the Securities and Exchange Commission, to be provided as soon as practicable and no less frequently than quarterly. 
  

	 	(a)	As soon as practicable (and in any event within thirty (30) days after the end of each month), an unaudited balance sheet as of the end of such month and unaudited statements of income or loss, retained earnings or
deficit, cash flows and capital structure of Borrower for such month, certified by Borrower’s Chief Executive Officer or Chief Financial Officer to fairly present in all material respects the data reflected therein. 

 

	 	(b)	As soon as practicable (and in any event upon the earlier of (i) two hundred seventy (270) days after the end of each fiscal year or (ii) the date of delivery to the holders of Borrower’s voting
Equity Securities), audited balance sheets as of the end of such year (consolidated if applicable), and related statements of income or loss, retained earnings or deficit, cash flows and capital structure of Borrower for such year, setting forth in
comparative form the corresponding figures for the preceding fiscal year, and accompanied by an audit report and unqualified opinion of the independent certified public accountants of recognized national standing selected by Borrower.

 Section 5.02 Other Information. Borrower shall promptly provide to Agent: (a) within thirty (30) days after
the end of each board meeting, copies of all board packages delivered to its board of directors in connection with board meetings or otherwise, (b) notice of all actions, suits and proceedings before any court or governmental department,
commission, board, bureau, agency or instrumentality, domestic or foreign, which suits or proceedings if decided adversely to Borrower could reasonably be expected to result in costs or damages to Borrower of One Hundred Thousand Dollars ($100,000),
(c) notice of any Default, Event of Default, Event of Loss, or any matter which has resulted or may result in a Material Adverse Effect, and (d) any additional information (including but not limited to tax returns, income statements,
balance sheets, and names of principal creditors) as Agent shall reasonably request which is necessary to evaluate Borrower’s continuing financial obligations. 

Section 5.03 Corporate Identity. Borrower shall notify Agent in writing thirty (30) days prior to any change in Borrower’s
principal place of business or chief executive office and any change of Borrower’s name, identity or corporate structure. 
 Section 5.04
Reserved. 
 Section 5.05 Authorization for Automated Clearinghouse Funds Transfer. Borrower shall (i) authorize
Agent to initiate debit entries to Borrower’s account specified in Section 9.06 (“Borrower’s Primary Operating Account”) through Automated Clearinghouse (“ACH”) transfers, in order to
satisfy regularly scheduled payments of principal, interest and fees; (ii) provide Agent at least thirty (30) days notice of any change in Borrower’s Primary Operating Account; and (iii) grant Agent any additional authorizations
necessary to begin ACH debits from a new account which becomes Borrower’s Primary Operating Account. 
 Section 5.06 Insurance.
Borrower shall, at its own expense, maintain the following types of insurance, with companies with an A-5 Best rating or better, in amounts acceptable to Agent: 
  

	 	(a)	All Risk. “All risk” insurance against loss or damage to the Collateral. The deductible shall not exceed $25,000. The policy shall name Agent as sole loss payee with respect to the Collateral, shall not
be invalidated by any action of or breach of warranty by Borrower of any provision thereof and shall waive subrogation against Agent. 

  

	 	(b)	General Liability Insurance. Commercial general liability insurance (including contractual liability, products liability and completed operations coverages) reasonably satisfactory to Agent. The limit of
liability shall be at least $1,000,000 per occurrence, and $2,000,000 in the aggregate, of commercial general liability insurance and $10,000,000 in excess liability insurance. The policy(ies) shall name Agent as additional insured in the full
amount of Borrower’s liability coverage limits (or the coverage limits of any successor to Borrower or such successor’s parent which is providing coverage), be primary and without contribution as respects any insurance carried by Agent and
contain cross liability and severability of interest clauses. 

  

	 	(c)	Other Insurance. Such other insurance against risks of loss and with terms as shall be reasonably required by Agent. 

  
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 All policies of insurance shall provide that Agent shall be given thirty (30) days’ notice of
cancellation of coverage. This notice provision shall be without qualification. On or prior to the first Funding Date and prior to each policy renewal, Borrower shall furnish to Agent, certificates of insurance or other evidence satisfactory to
Agent that insurance complying with all of the above requirements is in effect. 
 Section 5.07 Taxes and Other Liabilities. Borrower
shall pay all Indebtedness when due; pay all material Taxes and other governmental or regulator assessments before delinquency or before any penalty attaches thereto, except as may be contested in good faith by the appropriate procedures and for
which Borrower shall maintain appropriate reserves; and timely file all required tax returns or extensions therefor. 
 Section 5.08
Title. Borrower shall promptly notify Agent in writing of any event which materially affects the value of the Collateral, the ability of Borrower or Agent to dispose of the Collateral, or the rights or remedies of Agent in relation
thereto, including, but not limited to, the levy of any legal process against the Collateral. Upon request by Agent, Borrower shall deliver to Agent any and all evidence of ownership of, and certificates of title to, any and all of the Equipment.

 Section 5.09 Further Identification of Collateral. Borrower shall promptly advise Agent of any material change in the composition of
the Collateral. Borrower shall furnish to Agent from time to time such statements and schedules further identifying and describing the Collateral and such other reports in connection with the Collateral as Agent may reasonably request, all in
reasonable detail. 
 Section 5.10 Good Repair. Borrower shall keep and maintain all Collateral in good operating condition and repair,
subject to ordinary wear and tear, make all necessary repairs thereto and replacement of parts thereof so that the value and operating efficiency thereof shall at all times be maintained and preserved in all material respects; and Borrower shall
keep books and records with respect to the Collateral, including maintenance records, which are complete and accurate in all material respects. 

Section 5.11 Loss; Damage; Destruction and Seizure. 
  

	 	(a)	If while payment Obligations are outstanding any item of Collateral is lost, stolen, destroyed, damaged beyond repair or seized by a Governmental Authority (an “Event of Loss”), then, at
Borrower’s option, either (i) Agent shall receive from the proceeds of insurance maintained pursuant to Section 5.06, from any award paid by the seizing Governmental Authority or, to the extent not received from the proceeds of
insurance or award or both, from Borrower, on or before the next scheduled Payment Date succeeding such Event of Loss, an amount equal to the replacement value of the item of Collateral subject to the Event of Loss which shall be held as additional
Collateral for the Advance, or (ii) if no Event of Default has occurred and is continuing, Borrower may use any such proceeds to purchase an item of Collateral to replace the item of Collateral which was subject to the Event of Loss and such
replacement Collateral shall become part of the Collateral. On the date of receipt by Agent of the amount specified hereinabove with respect to each such item of Collateral subject to an Event of Loss, the provisions of this Loan Agreement shall
terminate as to such Collateral. Pending Borrower’s election of the options set forth above, any proceeds of insurance maintained by Borrower with respect to the Collateral pursuant to Section 5.06 and received by Borrower shall be paid to
Agent promptly upon their receipt by Borrower. If any proceeds of insurance or awards received from Governmental Authorities are in excess of the amount owed under this Section 5.11(a), Agent shall promptly remit to Borrower the amount in
excess of the amount to be held by Agent. 

  

	 	(b)	 So long as no Event of Default has occurred and is continuing, any proceeds of insurance maintained pursuant to Section 5.06 received by Agent or
Borrower with respect to an item of Collateral the 

  
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repair of which is practicable shall, at the election of Borrower, be applied either to the repair or replacement of such Collateral or, upon Agent’s receipt of evidence of the repair or
replacement of the Collateral reasonably satisfactory to Agent, to the reimbursement of Borrower for the cost of such repair or replacement. All replacement parts and equipment acquired by Borrower in replacement of Collateral pursuant to this
Section 5.11 shall immediately become part of the Collateral upon acquisition by Borrower. Borrower shall take such actions and provide such documentation as may be reasonably requested by Agent to protect and preserve Agent’s first
priority security interest and otherwise to avoid any impairment of Agent’s rights under the Transaction Documents, in connection with such repair or replacement. 

Section 5.12 Collateral Control. Borrower shall not (i) terminate, waive or release any material right with respect to any Collateral,
or (ii) remove any items of Collateral from Borrower’s facility located at the address specified in Section 9.07, the locations specified on Schedule 2, or such other address agreed to in writing by Agent, provided that
Borrower may remove or relocate Equipment to another location, so long as such location at all times contains less than Five Thousand Dollars ($5,000) in Borrower’s assets or property. 

Section 5.13 Liens; No Disposition of Collateral. Borrower shall not (i) in any way hypothecate or create or permit to exist any Lien
with respect to any of its or its Subsidiaries’ property, except for Permitted Liens, (ii) permit the inclusion in any contract to which it or a Subsidiary becomes a party of any provisions that could restrict or invalidate the creation of
a security interest in any of Borrower’s or such Subsidiary’s property, or (iii) sell, transfer, assign, pledge, collaterally assign, exchange, or otherwise dispose of (collectively, a “Transfer”), or permit any of its
Subsidiaries to Transfer, all or any part of its business or property, other than Transfers: (A) of Inventory in the ordinary course of business, (B) of non-exclusive licenses and similar
arrangements for the use of the property of Borrower or its Subsidiaries in the ordinary course of business, (C) of worn-out or obsolete Equipment, (D) of other assets not to exceed $250,000 in aggregate during any calendar year, or
(E) in connection with Permitted Liens and Permitted Investments. 
 Section 5.14 Mergers and Acquisitions. Without the prior
written consent of Agent (provided that such written consent shall not be required if all of the Obligations hereunder are prepaid in accordance with Section 1.02(e)(ii)), Borrower shall not be acquired by any “person” (as such term
is used in Section 13(d) and 14(d) of the Securities Exchange Act of 1934), whether by merger or consolidation, or through a transaction or series of transactions pursuant to which the holders of Borrower’s voting Equity Securities do not
hold at least 50% of the voting power of Borrower or any resulting Person after such transaction or transactions, or through the sale of all or substantially all of its assets. 

Section 5.15 Distributions. Prior to the effective date of the initial registration statement covering a public offering of Borrower’s
securities, without the prior written consent of Agent, Borrower shall not (i) pay any dividends or make any distributions on its Equity Securities; (ii) purchase, redeem, retire, defease or otherwise acquire for value any of its Equity
Securities (other than repurchases pursuant to the terms of employee stock purchase plans, employee restricted stock agreements or similar arrangements in an aggregate amount not to exceed in any calendar year $100,000); (iii) return any
capital to any holder of its Equity Securities as such; (iv) make any distribution of assets, Equity Securities, obligations or securities to any holder of its Equity Securities as such; or (v) set apart any sum for any such purpose;
provided, however, Borrower may declare dividends payable solely in common stock and Borrower may convert any of its convertible securities into other securities pursuant to the terms of such convertible securities or otherwise in
exchange thereof. 
 Section 5.16 Indebtedness. Borrower shall not, and shall not permit its Subsidiaries to, create, incur, assume or
suffer to exist any Indebtedness, other than Permitted Indebtedness. 
 Section 5.17 Investments. Borrower shall not, and shall not
permit its Subsidiaries to, directly or indirectly acquire or own, or make any Investment in or to any Person other than Permitted Investments; or suffer or permit any Subsidiary to be a party to, or be bound by, an agreement that restricts such
Subsidiary from paying dividends or otherwise distributing property to Borrower. 

  
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 Section 5.18 Transactions with Affiliates. Borrower shall not, and shall not permit its
Subsidiaries to, directly or indirectly enter into or permit to exist any material transaction with any Affiliate, except for transactions that are in the ordinary course of such Person’s business, upon fair and reasonable terms that are no
less favorable to Borrower, or such Subsidiary, than would be obtained in an arms’ length transaction with a non-affiliated Person; provided that the foregoing restriction shall not apply to (i) any
transaction between Borrower and any of its Subsidiaries or between any Subsidiaries that is not otherwise prohibited by this Loan Agreement, (ii) reasonable and customary fees paid to members of the board of directors of Borrower and its
Subsidiaries, (iii) compensation arrangements and benefit plans for officers and other employees of Borrower and its Subsidiaries entered into or maintained in the ordinary course of business, (iv) unsecured debt financings from
Borrower’s investors so long as such Indebtedness is Subordinated Debt, and (v) sales of equity securities that are not prohibited by Section 5.14. 

Section 5.19 Indebtedness Payments. Borrower shall not (i) prepay, redeem, purchase, defease or otherwise satisfy in any manner prior
to the scheduled repayment thereof any Indebtedness for borrowed money (other than amounts due or permitted to be prepaid under this Loan Agreement or the Subordination Agreement) or any lease obligations, (ii) amend, modify or otherwise change
the terms of any Indebtedness (other than the Advances) or lease obligations so as to accelerate the scheduled repayment thereof or (iii) repay any Indebtedness to officers, directors or shareholders. 

Section 5.20 Accounts. Borrower shall not, and shall not permit its Subsidiaries to, maintain any deposit accounts or securities accounts
except accounts with respect to which Agent has obtained an agreement with the bank or other financial institution sufficient to perfect a security interest in such deposit accounts or securities accounts, provided that Borrower may maintain
accounts at Silicon Valley Bank account numbers 8800060588 and 3300975070 to secure corporate credit cards so long as the balance does not exceed $50,000 at any time. 
  

	Article 6.	PRESERVATION OF COLLATERAL BY AGENT. 

 Should Borrower fail or refuse to make any
payment, perform or observe any other covenant, condition or obligation, or take any other action which Borrower is obligated under any Transaction Document to make, perform, observe, take or do at the time or in the manner provided in any
Transaction Document, then at Agent’s sole and absolute discretion, without notice to or demand upon Borrower and without releasing Borrower from any obligation, covenant or condition in any Transaction Document, Agent may make, perform,
observe, take or do the same in such manner and to such extent as Agent may deem necessary to protect its security interest in or the value of the Collateral. In furtherance of the foregoing rights, Borrower does hereby irrevocably appoint Agent
(which appointment is coupled with an interest), the true and lawful attorney-in-fact of Borrower with full power of substitution, for it and in its name (i) to perform (but Agent shall not be obligated to and shall incur no liability to
Borrower or any third party for failure to perform) any act which Borrower is obligated by this Loan Agreement to perform, (ii) to ask, demand, collect, receive, receipt for, sue for, compound and give acquittance for any and all rents, issues,
profits, avails, distributions, income, payment draws and other sums in which a security interest is granted under Section 2.01 with full power to settle, adjust or compromise any claim thereunder as fully as if Agent were Borrower itself,
(iii) to receive payment of and to endorse the name of Borrower to any items of Collateral (including checks, drafts and other orders for the payment of money) that come into Agent’s possession or under Agent’s control, (iv) to
make all demands, consents and waivers, or take any other action with respect to, the Collateral, (v) in Agent’s discretion, to file any claim or take any other action or institute proceedings, either in its own name or in the name of
Borrower or otherwise, which Agent may reasonably deem necessary or appropriate to protect and preserve the right, title and interest of Agent in and to the Collateral, and (vi) to otherwise act with respect thereto as though Agent were the
outright owner of the Collateral; provided, however, that the power of attorney herein granted shall be exercisable only upon the occurrence and during the continuation of an Event of Default unless in Agent’s reasonable opinion
immediate action is necessary to preserve or protect the Collateral. Borrower agrees to reimburse Agent upon demand for all reasonable costs and expenses, including attorneys’ fees and expenses, which Agent may incur while acting as
Borrower’s attorney in fact or otherwise under this Article 6, all of which costs and expenses are included within the Obligations. 

  
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	Article 7.	EVENTS OF DEFAULT. 

 Section 7.01 Events of Default. The occurrence of any of the
following shall constitute an “Event of Default” under the Transaction Documents: 
  

	 	(a)	Failure to Pay. Borrower shall fail to pay when due any principal, interest or other payment required under the terms of this Loan Agreement or any other Transaction Document on the date due and such payment
shall not have been made within three (3) Business Days of the receipt of Agent’s written notice that payment was not made when due; or 

  

	 	(b)	Insurance. Borrower or any of its Subsidiaries shall fail to observe or perform any covenant set forth in Section 5.06 and such failure shall continue for a period of five (5) Business Days after
written notice thereof is given to Borrower by Agent; or 

  

	 	(c)	Breaches of Other Covenants. Borrower or any of its Subsidiaries shall fail to perform or observe (i) any of the terms, covenants or agreements contained in Sections 5.03, 5.05, or 5.11 through 5.20
hereof or (ii) any other term, covenant, or agreement contained in any Transaction Document (other than the other Events of Default specified in this Article 7) and such failure remains unremedied for the earlier of twenty (20) days
from (x) the date on which the Agent has given the Borrower written notice of such failure and (y) the date on which any officer of the Borrower became aware of such failure; or 

 

	 	(d)	Representations and Warranties. Any representation, warranty, certificate, or other statement (financial or otherwise) made or furnished by or on behalf of Borrower to Agent in writing in connection with this
Loan Agreement or any of the other Transaction Documents, or as an inducement to Agent or Lenders to enter into the Transaction Documents, shall be false, incorrect, incomplete or misleading in any material respect when made or furnished; or

  

	 	(e)	Other Payment Obligations. (i) Borrower or any of its Subsidiaries shall fail to make any payment when due under the terms of any Indebtedness to be paid by such Person (excluding this Loan Agreement and the
other Transaction Documents but including any other Indebtedness of Borrower or any of its Subsidiaries to Agent or any Lender) and such failure shall continue beyond any period of grace provided with respect thereto, or shall default in the
observance or performance of any other agreement, term or condition contained in any such Indebtedness, and the effect of such failure or default is to cause, or permit the holder or holders thereof to cause Indebtedness in an aggregate amount of
Two Hundred Fifty Thousand Dollars ($250,000) or more to become due prior to its stated date of maturity, or (ii) an event of default shall occur under the Senior Loan Agreement evidencing Borrower’s indebtedness permitted under clause
(xi) of the definition of Permitted Indebtedness and such event of default is not cured within any applicable grace period provided therein; or 

  

	 	(f)	Material Adverse Effect. A circumstance has occurred that has a Material Adverse Effect. In determining whether such circumstance has occurred for the purpose of this Section 7.01(f), Agent’s primary,
though not sole, consideration will be whether Borrower has or will have sufficient cash resources to repay the Obligations as and when due. Agent recognizes that, as a pre-profit company, Borrower’s cash resources will decline over time, and
Borrower will periodically require additional infusions of equity capital. The clear intention of Borrower’s investors to continue to fund Borrower in the amounts and timeframe necessary, in Agent’s good faith judgment, to enable Borrower
to satisfy the Obligations as they become due and payable is the most significant criterion Agent shall consider in making any such determination; or 

  

	 	(g)	 Voluntary Bankruptcy or Insolvency Proceedings. Borrower or any of its Subsidiaries shall (i) apply for or consent to the appointment of a
receiver, trustee, liquidator or custodian of itself or of all or a substantial part of its property, (ii) be unable, or admit in writing its inability, to pay its debts generally as they mature, or be unable to pay or perform under the Loan
Documents, (iii) make a general assignment for the benefit of its or any of its creditors, (iv) be dissolved or liquidated in full or in part, (v) cease to be Solvent (which shall be determined in Agent’s reasonable discretion in
consultation 

  
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with an accounting firm of recognized national standing; provided that in the event that Agent cannot get an accounting firm of recognized national standing to provide such analysis as described
in the definition of Solvent then Agent shall be entitled to consult with an independent third party valuation firm or financial institution), (vi) commence a voluntary case or other proceeding seeking liquidation, reorganization or other
relief with respect to itself or its debts under any bankruptcy, insolvency or other similar law now or hereafter in effect or consent to any such relief or to the appointment of or taking possession of its property by any official in an involuntary
case or other proceeding commenced against it, or (vii) take any action for the purpose of affecting any of the foregoing; or 

  

	 	(h)	Involuntary Bankruptcy or Insolvency Proceedings. Proceedings for the appointment of a receiver, trustee, liquidator or custodian of Borrower or any of its Subsidiaries or of all or a substantial part of the
property thereof, or an involuntary case or other proceedings seeking liquidation, reorganization or other relief with respect to Borrower or any of its Subsidiaries or the debts thereof under any bankruptcy, insolvency or other similar law now or
hereafter in effect shall be commenced and an order for relief entered or such proceeding shall not be dismissed or discharged within thirty (30) days of commencement; or 

 

	 	(i)	Judgments. A final judgment or order for the payment of money in excess of Two Hundred Fifty Thousand Dollars ($250,000) shall be rendered against Borrower or any of its Subsidiaries and the same shall remain
undischarged for a period of thirty (30) days during which execution shall not be effectively stayed, or any judgment, writ, assessment, warrant of attachment, or execution or similar process shall be issued or levied against a substantial part
of the property of Borrower or any of its Subsidiaries and such judgment, writ, or similar process shall not be released, stayed, vacated or otherwise dismissed within thirty (30) days after issue or levy; or 

 

	 	(j)	Transaction Documents. Any Transaction Document or any material term thereof shall cease to be, or be asserted by Borrower not to be, a legal, valid and binding obligation of Borrower enforceable in accordance
with its terms or if the Liens of Agent in the Collateral shall cease to be or shall not be valid, first priority perfected Liens (excepting Permitted Liens) or Borrower shall assert that such Liens are not valid, first priority and perfected Liens
(excepting Permitted Liens). 

  

	Article 8.	AGENT’S RIGHTS AND REMEDIES 

 Section 8.01 Rights of Agent upon Default. Upon the
occurrence and during the existence of any Event of Default (other than an Event of Default referred to in Sections 7.01(g) and 7.01(h)) and at any time thereafter during the continuance of such Event of Default, Agent may, by written notice to
Borrower, declare all outstanding Obligations, including, without limitation, the noncancelable obligation to make each payment scheduled to be made under Section 1.02 including any prepayment fee which would otherwise come due upon payment at
such time under 1.02(e), payable by Borrower hereunder to be immediately due and payable without presentment, demand, protest or any other notice of any kind, all of which are hereby expressly waived, anything contained herein or in the Notes to the
contrary notwithstanding. Upon the occurrence or existence of any Event of Default described in Sections 7.01(g) and 7.01(h), immediately and without notice, all outstanding Obligations, including, without limitation, the noncancelable
obligation to make each payment scheduled to be made under Sections 1.02 including any prepayment fee which would otherwise come due upon payment at such time under 1.02(e), payable by Borrower hereunder shall automatically become immediately due
and payable, without presentment, demand, protest or any other notice of any kind, all of which are hereby expressly waived, anything contained herein or in the Notes to the contrary notwithstanding. 

Section 8.02 Rights Regarding Collateral. Borrower agrees that when any Event of Default has occurred and is continuing, Lenders or Agent,
on behalf of Lenders, shall have the rights, options, duties and remedies of a secured party as permitted by law and, in addition to and without limiting the foregoing, Lenders or Agent may, at the election of Lenders, exercise any one or more or
all, and in any order, of the remedies herein set forth, including the following: (i) Agent or Lenders, personally or by agents or attorneys, shall have the right (subject to compliance with any applicable mandatory legal requirements) to
require Borrower to assemble the Collateral and make it available to Agent at a place to be designated by Agent in California or to take 

  
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immediate possession of the Collateral, or any portion thereof, and for that purpose may pursue the same wherever it may be found, and may enter any premises of Borrower, with or without notice,
demand, process of law or legal procedure, to the extent permitted by applicable law, and search for, take possession of, remove, keep and store the same, or use and operate or lease the same until sold; (ii) Agent or Lenders may, if at the
time such action may be lawful and always subject to compliance with any mandatory legal requirements, either with or without taking possession and either before or after taking possession, without instituting any legal proceedings whatsoever,
having first given notice of such sale by registered or certified mail to Borrower once at least ten (10) days prior to the date of such sale, and having first given any other notice which may be required by law, sell and dispose of the
Collateral, or any part thereof, at a private sale or at public auction, to the highest bidder, in one lot as an entirety or in separate lots, and either for cash or on credit and on such terms as Lenders may determine, and at any place (whether or
not it be the location of the Collateral or any part thereof) designated in the notice referred to above. Agent and its agents and any purchasers at or after foreclosure are hereby granted a non-exclusive, irrevocable, perpetual, fully paid,
royalty-free license or other right, solely pursuant to the provisions of this Section 8.02, to use, without charge, Borrower’s intellectual property that remains embedded or contained in the Collateral, including without limitation,
labels, patents, copyrights, rights of use of any name, trade secrets, trade names, trademarks, service marks, and advertising matter, or any property of a similar nature, now or at any time hereafter owned or acquired by Borrower or in which
Borrower now or at any time hereafter has any rights; provided, however, such license shall only be exercisable in connection with the disposition of Collateral upon Agent’s or Lenders’ exercise of their remedies hereunder.
To the extent permitted by applicable law, any such sale or sales may be adjourned from time to time by announcement at the time and place appointed for such sale or sales, or for any such adjourned sale or sales, without further published notice,
and Borrower, Agent, Lenders, or the holder or holders of the Notes, or of any interest therein, may bid and become the purchaser at any such sale; and (iii) Agent or Lenders may proceed to protect and enforce this Loan Agreement and the other
Transaction Documents by suit or suits or proceedings in equity, at law or in bankruptcy, and whether for the specific performance of any covenant or agreement herein contained or in execution or aid of any power herein granted; or for foreclosure
hereunder, or for the appointment of a receiver or receivers for any real property security or any part thereof, or for the recovery of judgment for the Obligations or for the enforcement of any other proper, legal or equitable remedy available
under applicable law. With respect to any of Borrower’s owned premises, Borrower hereby grants Agent a license to enter into possession of such premises and to occupy the same, without charge, for up to one hundred twenty (120) days in
order to exercise any of Agent’s or Lenders’ rights or remedies provided herein, at law, in equity, or otherwise. 
 Section 8.03
Agent’s Liability for Collateral. So long as Agent complies with its obligations, if any, under the Code, neither Agent nor Lenders shall in any way or manner be liable or responsible for: (i) the safekeeping of the Collateral;
(ii) any loss or damage thereto occurring or arising in any manner of fashion from any cause other than Agent’s or such Lender’s gross negligence or willful misconduct; (iii) any diminution in the value thereof; or (iv) any
act or default of any carrier, warehouseman, bailee, forwarding agency, or other Person whomsoever. All risk of loss, damage or destruction of the Collateral shall be borne by Borrower. 

Section 8.04 Application of Collateral Proceeds. The proceeds and/or avails of the Collateral, or any part thereof, and the
proceeds and the avails of any remedy hereunder (as well as any other amounts of any kind held by Agent at the time of, or received by Agent after, the occurrence of an Event of Default hereunder) shall be paid to and applied as follows:
(i) First, to the payment of reasonable costs and expenses, including all amounts expended to preserve the value of the Collateral, of foreclosure or suit, if any, and of such sale and the exercise of any other rights or remedies, and of all
proper fees, expenses, liability and advances, including reasonable legal expenses and attorneys’ fees, incurred or made hereunder by Agent or Lenders; (ii) Second, to the payment to Lenders pro rata in accordance with the Advance
Percentages of the amounts then owing or unpaid on the Notes, including each payment scheduled to be made under Sections 1.02 including any prepayment fee which would otherwise come due upon payment at such time under 1.02(e) of this Loan Agreement;
(iii) Third, to the payment of other amounts then payable to Agent or Lenders under any of the Transaction Documents; and (iv) Fourth, to the payment of the surplus, if any, to Borrower, its successors and assigns, or to whomsoever may be
lawfully entitled to receive the same. In the event that, notwithstanding the foregoing, proceeds and/or avails of the Collateral, shall be received by a Lender in excess of its ratable share, then the portion of such payment or distribution in
excess of such Lender’s ratable share shall be received by such Lender in trust for and shall be promptly paid over to the other Lenders ratably for application to the payments of amounts due to the other Lenders. 

  
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 Section 8.05 Reinstatement of Rights. If Agent shall have proceeded to enforce any right under
this Loan Agreement or any other Transaction Document by foreclosure, sale, entry or otherwise, and such proceedings shall have been discontinued or abandoned for any reason or shall have been determined adversely, then and in every such case
(unless otherwise ordered by a court of competent jurisdiction), Agent shall be restored to its former position and its rights hereunder with respect to the property subject to the security interest created under this Loan Agreement shall be
reinstated. 
 Section 8.06 Agency for Perfection. Each Lender hereby appoints Agent and each other Lender as agent and bailee for the
purpose of perfecting the security interests in and liens upon the Collateral in assets which, in accordance with the California Uniform Commercial Code, can be perfected only by possession or control (or where the security interest of a
secured party with possession or control has priority over the security interest of another secured party) and Agent and each Lender hereby acknowledges that it holds possession or control of any such Collateral for the benefit of the Agent as
secured party. Should any Lender obtain possession or control of any such Collateral, such Lender shall notify the Agent thereof, and, promptly upon the Agent’s request therefor shall deliver possession or control of such Collateral to the
Agent or in accordance with the Agent’s instructions. Borrower by its execution and delivery of this Loan Agreement hereby consents to the foregoing. 
  

	Article 9.	MISCELLANEOUS. 

 Section 9.01 Modifications, Amendments or Waivers. The provisions of
any Transaction Document may be modified, amended or waived only by a written instrument signed by the parties thereto. 
 Section 9.02 No
Implied Waivers; Cumulative Remedies; Writing Required. No delay or failure of Agent or any Lender in exercising any right, power or remedy hereunder shall affect or operate as a waiver thereof; nor shall any single or partial exercise
thereof or any abandonment or discontinuance of steps to enforce such a right, power or remedy preclude any further exercise thereof or of any other right, power or remedy. The rights and remedies hereunder of Agent and the Lenders are cumulative
and not exclusive of any rights or remedies which they would otherwise have. Any waiver, permit, consent or approval of any kind or character on the part of Agent or any Lender of any breach or default under this Loan Agreement or any such waiver of
any provision or condition of this Loan Agreement must be in writing and shall be effective only in the specified instance and to the extent specifically set forth in such writing. 

Section 9.03 Reimbursement. Borrower shall reimburse Agent and the Lenders for all costs and expenses, including without limitation,
reasonable attorneys’ fees and disbursements expended or incurred in any arbitration, mediation, judicial reference, legal action or otherwise in connection with (i) the amendment and enforcement of the Transaction Documents, including
without limitation during any workout, attempted workout and/or in connection with the rendering of legal advice as to Agent’s or Lenders’ rights, remedies and obligations under the Transaction Documents, (ii) collecting any sum which
becomes due Agent or Lender under any Transaction Document, (iii) any proceeding for declaratory relief, any counterclaim to any proceeding, or any appeal, or (v) the protection, preservation or enforcement of any rights of Agent or
Lender. For the purpose of this section, attorneys’ fees shall include, without limitation, fees incurred in connection with the following: (1) contempt proceedings; (2) discovery, (3) any motion, proceeding or other activity of
any kind in connection with an insolvency proceeding; (4) garnishment, levy, and debtor and third party examinations; and (5) post-judgment motions and proceedings of any kind, including without limitation, any activity taken to collect or
enforce any judgment. All of the foregoing costs and expenses shall be payable by Borrower upon demand by Agent, and if not paid within thirty (30) days of presentation of invoices shall bear interest at the highest applicable Default Rate.

 Section 9.04 Indemnification. Borrower agrees upon demand to pay or reimburse Agent and the Lenders for all liabilities, obligations
and out-of-pocket expenses, including reasonable fees and expenses of counsel for Agent and the Lenders, from time to time arising in connection with the enforcement or collection of sums due under the Transaction Documents. Borrower shall
indemnify, reimburse and hold Agent and the Lenders 

  
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and their permitted assigns, each of Agent’s, Lenders’ or their permitted assigns’ partners, and each of their respective successors, assigns, agents, officers, directors,
shareholders, servants, agents and employees harmless from and against all liabilities, losses, damages, actions, suits, demands, claims of any kind and nature (including claims relating to environmental discharge, cleanup or compliance), all costs
and expenses whatsoever to the extent they may be incurred or suffered by such indemnified party in connection therewith (including reasonable attorneys’ fees and expenses), fines, penalties (and other charges of applicable governmental
authorities), licensing fees relating to any item of Collateral, damage to or loss of use of property (including consequential or special damages to third parties or damages to Borrower’s property), or bodily injury to or death of any person
(including any agent or employee of Borrower) (each, a “Claim”), directly or indirectly relating to or arising out of the use of the proceeds of the Advance, including acquisition, use, ownership, operation, possession,
control, storage, return or condition of any item of Equipment constituting Collateral (regardless of whether such item of Equipment is at the time in the possession of Borrower), the falsity of any representation or warranty of Borrower or
Borrower’s failure to comply with the terms of this Loan Agreement or any other Transaction Document. The foregoing indemnity shall cover, without limitation, (i) any Claim in connection with a design or other defect (latent or patent) in
any item of Equipment constituting Collateral, (ii) any Claim for infringement of any patent, copyright, trademark or other intellectual property right, (iii) any Claim resulting from the presence on or under or the escape, seepage,
leakage, spillage, discharge, emission or release of any Hazardous Materials from any item of Equipment financed by an Advance or constituting Collateral, including any Claims asserted or arising under any Environmental Law, or (iv) any Claim
for negligence or strict or absolute liability in tort; provided, however, that Borrower shall not indemnify Agent or any Lender for any liability incurred by such Person as a direct and sole result of that Person’s gross
negligence or willful misconduct. Such indemnities shall continue in full force and effect, notwithstanding the expiration or termination of this Loan Agreement. Upon Agent’s written demand, Borrower shall assume and diligently conduct, at its
sole cost and expense, the entire defense of Agent or any Lender and its permitted assigns, each of Agent’s, Lenders’ or their permitted assigns’ partners, and each of their respective successors, assigns, agents, officers, directors,
shareholders, servants, agents and employees against any indemnified Claim described in this Section 9.04. Borrower shall not settle or compromise any Claim against or involving Agent or any Lender without first obtaining such Person’s
written consent thereto, which consent shall not be unreasonably withheld. The obligations in this Section 9.04 shall survive payment of all other Obligations until all applicable statute of limitation periods with respect to actions that may
be brought against Agent or Lenders have run. All amounts owing under this Section 9.04 shall be paid within thirty (30) days after written demand. 

Section 9.05 Limitation on Damages. NOTWITHSTANDING ANYTHING TO THE CONTRARY CONTAINED IN THIS LOAN AGREEMENT OR ANYWHERE ELSE, BORROWER
AGREES THAT IT SHALL NOT SEEK FROM AGENT OR ANY LENDER UNDER ANY THEORY OF LIABILITY (INCLUDING ANY THEORY IN TORTS), ANY SPECIAL, INDIRECT, CONSEQUENTIAL OR PUNITIVE DAMAGES. 

Section 9.06 Disbursements and Payments. 
  

	 	(a)	Disbursements. Lenders shall disburse each Advance to Borrower according to the following account and wire transfer instructions: 

Credit: 
 Bank Name: 

Bank Address: 
 Account Number:

 ABA Routing Number: 

Reference: 

  
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	 	(b)	Regularly Scheduled Payments. All regularly scheduled payments due to Agent shall be effected by automatic debit of the appropriate funds from Borrower’s primary operating account set forth below:

 Account Holder: 

Bank Name: 
 Bank Address: 

Account Number: 
 ABA Routing
Number: 
  

	 	(c)	Other Payments. All payments to Agent other than regularly scheduled payments may be made via wire transfer as follows: 

Wire Transfer Payment 

Credit: 
 Bank Name: 

Bank Address: 
 Account Number:

 ABA Routing Number: 

Reference: 
 Section 9.07
Notices. All notices and other communications given to or made upon any party hereto in connection with this Loan Agreement shall be in writing and (except for financial statements and other informational documents which may be sent by
email) shall be delivered by certified mail, postage prepaid, return receipt requested, by a nationally recognized overnight courier, or by prepaid facsimile or personally delivered to the respective parties, as follows: 

 

					
		 	Borrower:	 	AQUANTIA CORP.
		 		 	Telephone:
		 		 	Telecopier:
		 		 	Attention: Faraj Aalaei, President and CEO
			
		 	Agent:	 	PINNACLE VENTURES, L.L.C.
		 		 	Telephone:
		 		 	Telecopier:
		 		 	Email:
		 		 	Attention: Chief Operating Officer

 or in accordance with any subsequent written direction from either party to the other. All such notices and other
communications shall, except as otherwise expressly herein provided, be effective when received; or in the case of delivery by messenger or overnight delivery service, when left at the appropriate address. 

Section 9.08 Lenders and Allocations of Advances. Notwithstanding anything herein to the contrary, each Lender severally commits to make
such Lender’s Advance Percentage of each Advance. No Lender shall have liability for the commitment to make Advances of any other Lender. Borrower agrees that by notice to Borrower, Agent may reallocate the Advance Percentages among the Lenders
or among the Lenders and other investment funds affiliated with Agent. Whether or not specified in any provision of this Loan Agreement, all references to Agent in this Loan Agreement shall mean Agent for the benefit of the Lenders unless the
context otherwise requires. 
 Section 9.09 Severability. If any provision of any Transaction Document is held invalid or unenforceable
to any extent or in any application, the remainder of such Transaction Document and all other Transaction Documents, or the application of such provision to different Persons or circumstances or in different jurisdictions, shall not be affected
thereby. 

  
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 Section 9.10 Reliance by Agent and the Lenders. All covenants, agreements, representations and
warranties made herein by Borrower shall be deemed to be material to and have been relied upon by Agent and the Lenders, notwithstanding investigation by Agent. 

Section 9.11 No Set-Offs by Borrower. All sums payable by Borrower pursuant to this Loan Agreement or any of the other Transaction
Documents shall be payable without notice or demand and shall be payable without set-off or reduction of any manner whatsoever. 
 Section 9.12
Survival. All representations, warranties, covenants and agreements of Borrower contained herein or made in writing in connection herewith shall survive the execution and delivery of the Transaction Documents, the making of Advances
hereunder, the granting of security and the issuance of the Notes. 
 Section 9.13 Confidentiality. Agent and the Lenders agree to hold
non-public information received in confidence and shall not disclose such information to third parties except to their employees, members, partners or the partners of its affiliated investment funds, their lenders, and professional advisors to the
foregoing, including attorneys and accountants, and others under a similar duty of confidentiality, and as Agent may deem necessary in its reasonable judgment to satisfy its legal obligations or to enforce Agent’s or Lenders’ rights under
any Transaction Document. Borrower acknowledges that Lenders may issue press releases, advertisements, and other promotional materials, either in print or on Lenders’ website(s), describing any successful outcome of services provided on
Borrower’s behalf. Borrower agrees that Lenders shall have the right to identify Borrower by name and use Borrower’s corporate logo in those materials, solely for marketing purposes. 

Section 9.14 Choice of Law and Venue; Jury Trial Waiver. THIS LOAN AGREEMENT SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE
INTERNAL LAWS OF THE STATE OF CALIFORNIA, WITHOUT REGARD TO PRINCIPLES OF CONFLICTS OF LAW. BORROWER, AGENT AND THE LENDERS HEREBY SUBMIT TO THE EXCLUSIVE JURISDICTION OF THE STATE AND FEDERAL COURTS LOCATED IN THE NORTHERN DISTRICT OF CALIFORNIA.
BORROWER, AGENT AND THE LENDERS HEREBY WAIVE THEIR RESPECTIVE RIGHTS TO A JURY TRIAL OF ANY CLAIM OR CAUSE OF ACTION BASED UPON OR ARISING OUT OF ANY OF THE TRANSACTION DOCUMENTS OR ANY OF THE TRANSACTIONS CONTEMPLATED THEREIN, INCLUDING CONTRACT
CLAIMS, TORT CLAIMS, BREACH OF DUTY CLAIMS, AND ALL OTHER COMMON LAW OR STATUTORY CLAIMS. 
 Section 9.15 Successors and Assigns. This
Loan Agreement and the other Transaction Documents shall be binding upon and inure to the benefit of Agent and the Lenders, all future holders of the Notes, Borrower and their respective successors and permitted assigns, except that Borrower may not
assign or transfer its rights hereunder or thereunder or any interest herein or therein without the prior written consent of Agent. Agent or Lenders may assign all or any portion of their rights hereunder and under one or more Notes to any of its
affiliated investment funds or to any one or more financial institutions or funds or an agent or trustee for such financial institutions or funds (an “Assignee”) and may sell to any of its affiliated investment funds or to
any one or more financial institutions or funds or an agent or trustee for such financial institutions or funds (a “Participant”) participation interests in Agent’s or Lenders’ rights hereunder and under one or more
Notes. Agent and the Lenders may disclose the Transaction Documents and any other financial or other information relating to Borrower or any Subsidiary to any potential Assignee or Participant, provided that such Assignee or Participant agrees to
protect the confidentiality of such documents and information using the same measures that it uses to protect its own confidential information. 

Section 9.16 Counterparts. This Loan Agreement may be executed in any number of counterparts and by different parties hereto on separate
counterparts, each of which, when so executed and delivered, shall be an original, but all such counterparts shall together constitute one and the same instrument. 

Section 9.17 Further Assurances. Borrower will, at its own expense, from time to time do, execute, acknowledge and deliver all and every
further acts, deeds, conveyances, transfers and assurances, and all financing and continuation statements and similar notices, reasonably necessary or proper for the perfection of the security interest being herein provided for in the Collateral,
whether now owned or hereafter acquired. 

  
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 Section 9.18 Entire Agreement. This Loan Agreement and each of the other Transaction
Documents, taken together, constitute and contain the entire agreement of Borrower, Agent and the Lenders and supersede any and all prior agreements, negotiations, correspondence, understandings and communications among the parties, whether written
or oral, respecting the subject matter hereof. 
 Section 9.19 Notice of Equity Rounds. Borrower agrees that it shall notify Agent
promptly upon the execution by Borrower of a term sheet or letter of intent setting forth the terms and conditions of any round of private equity financing and in any event within five (5) days of such execution. 

Section 9.20 Termination. Upon payment in full of the Obligations (other than inchoate indemnity obligations) and, if any unfunded
Commitment remains available to Borrower, Agent’s receipt of Borrower’s written request to terminate such Commitment, the Loan Agreement and the security interests granted herein and any unfunded Commitment shall terminate and all rights
to the Collateral shall revert to Borrower, provided that Section 9.19 shall survive and shall not be affected by any such termination. 

Section 9.21 Amendment and Restatement. This Loan Agreement amends, restates and supersedes in its entirety the Original Loan Agreement.
Nothing herein shall be construed as a substitution or novation of the obligations of Borrower outstanding under the Original Loan Agreement, which obligations shall remain in full force and effect, except to the extent that the terms thereof are
modified hereby or by instruments executed concurrently herewith. 
  

	Article 10.	DEFINITIONS. 

 All terms defined in the Code shall have the respective meanings specified
in the Code. In addition, for purposes of this Loan Agreement the following capitalized terms shall have the meanings set forth below: 

“Advance” shall have the meaning set forth in Section 1.01 of this Loan Agreement. 

“Advance Percentage” shall mean, with respect to a Lender, the percentage of each Advance specified opposite such
Lender’s name on Schedule 1 hereto. 
 “Affiliate” shall mean any Person that owns or controls directly or
indirectly ten percent (10%) or more of the stock of another entity, any Person that controls or is controlled by or is under common control with such Persons or any Affiliate of such Persons and each of such Person’s officers, directors,
members, joint venturers or partners. When used with respect to a Lender, Affiliate shall also include any Affiliate of Agent. 

“Borrower’s Books” shall mean all of Borrower’s books and records including without limitation: ledgers;
records concerning Borrower’s assets or liabilities, the Collateral, business operations or financial condition; and all computer programs, or tape files, and the equipment, containing such information. 

“Borrower’s Primary Operating Account” shall have the meaning set forth in Section 5.05 of this Loan
Agreement. 
 “Business Day” shall mean any day on which commercial banks are not authorized or required to close in
San Francisco, California. 
 “Closing” shall mean the date, time and place as the parties may agree for the
execution of this Loan Agreement. 
 “Code” shall mean the Uniform Commercial Code as in effect from time to time in
the state of California. 
 “Collateral” shall mean property described on Exhibit B attached hereto.

 “Commitment” shall have the meaning set forth in Section 1.01 of this Loan Agreement. 

  
 -19- 

 “Contractual Obligation” of any Person shall mean, any indenture, note,
security, deed of trust, mortgage, security agreement, lease, guaranty, instrument, contract, agreement or other form of obligation or undertaking to which such Person is a party or by which such Person or any of its property is bound. 

“Copyrights” shall mean 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, now or hereafter existing, created, acquired or held. 

“Default” shall mean any event or circumstance not yet constituting an Event of Default but which, with the giving of
any notice or the lapse of any period of time or both, would become an Event of Default. 
 “Default Rate” shall
mean, as of any date of determination, an interest rate per annum equal to five percent (5%) in excess of the rate per annum otherwise applicable on such date. 

“Domestic Subsidiary” shall mean a Subsidiary organized under the laws of any state or other jurisdiction within the
United States. 
 “Environmental Laws” shall mean all Requirements of Law relating to the protection of human health
or the environment, including, without limitation, (i) all Requirements of Law, pertaining to reporting, licensing, permitting, investigation, and remediation of emissions, discharges, releases, or threatened releases of hazardous materials,
chemical substances, pollutants, contaminants, or hazardous or toxic substances, materials or wastes whether solid, liquid, or gaseous in nature, into the air, surface water, groundwater, or land, or relating to the manufacture, processing,
distribution, use, treatment, storage, disposal, transport, or handling of chemical substances, pollutants, contaminants, or hazardous or toxic substances, materials, or wastes, whether solid, liquid, or gaseous in nature; and (ii) all
Requirements of Law pertaining to the protection of the health and safety of employees or the public. 
 “Equipment”
shall mean all present and future machinery, equipment, tenant improvements, furniture, fixtures, vehicles, tools, parts and attachments in which Borrower has any interest. 

“Equity Securities” of any Person shall mean (i) all common stock, preferred stock, participations, shares,
partnership interests, membership interests or other equity interests in and of such Person (regardless of how designated and whether or not voting or non-voting) and (ii) all warrants, options and other rights to acquire any of the foregoing.

 “Event of Default” shall have the meaning set forth in Article 7 of this Loan Agreement. 

“Event of Loss” shall have the meaning set forth in Section 5.11(a) of this Loan Agreement. 

“Financial Statements” shall mean, with respect to any accounting period for any Person, statements of operations,
retained earnings and cash flow of such Person for such period, and balance sheets of such Person as of the end of such period, setting forth in each case in comparative form figures for the corresponding period in the preceding fiscal year if such
period is less than a full fiscal year or, if such period is a full fiscal year, corresponding figures from the preceding fiscal year, all prepared in reasonable detail and in accordance with generally accepted accounting principles, except in the
case of unaudited Financial Statements, for the absence of footnotes and normal year-end adjustments. Unless otherwise indicated, each reference to Financial Statements of any Person shall be deemed to refer to Financial Statements prepared on a
consolidated basis. 
 “Foreign Subsidiary” shall mean a Subsidiary other than a Domestic Subsidiary. 

“Funding Date” shall mean any date on which an Advance is made to or on account of Borrower under this Loan Agreement.

  
 -20- 

 “Governmental Authority” shall mean any domestic or foreign national,
state or local government, any political subdivision thereof, any department, agency, authority or bureau of any of the foregoing, or any other entity exercising executive, legislative, judicial, regulatory or administrative functions of or
pertaining to government. 
 “Governmental Rule” shall mean any law, rule, regulation, ordinance, order, code
interpretation, judgment, decree, directive, guidelines, policy or similar form of decision of any Governmental Authority. 

“Indebtedness” of any Person shall mean and include the aggregate amount of, without duplication (i) all
obligations of such Person for borrowed money, (ii) all obligations of such Person evidenced by bonds, debentures, notes or other similar instruments, (iii) all obligations of such Person to pay the deferred purchase price of property or
services (other than accounts payable incurred in the ordinary course of business determined in accordance with generally accepted accounting principles), (iv) all obligations under capital leases of such Person, (v) all obligations or
liabilities of others secured by a lien on any asset of such Person, whether or not such obligation or liability is assumed, (vi) all guaranties of such Person of the obligations of another Person, (vii) all obligations created or arising
under any conditional sale or other title retention agreement with respect to property acquired by such Person (even if the rights and remedies of the seller or lender under such agreement upon an event of default are limited to repossession or sale
of such property), (viii) net exposure under any interest rate swap, currency swap, forward, cap, floor or other similar contract that is not entered to in connection with a bona fide hedging operation that provides offsetting benefits to such
Person, which agreements shall be marked to market on a current basis, and (ix) all reimbursement and other payment obligations, contingent or otherwise, in respect of letters of credit. 

“Intellectual Property” shall mean: (i) Copyrights, Trademarks, Patents, and Mask Works;
(ii) any and all trade secrets, and any and all intellectual property rights in computer software and computer software products now or hereafter existing, created, acquired or held; (iii) any and all design rights which may be available
to Borrower now or hereafter existing, created, acquired or held; (iv) any and all claims for damages by way of past, present and future infringement of any of the rights included above, 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; (v) all licenses or other rights to use any of the Copyrights, Patents, Trademarks, or Mask Works, and all license fees and royalties
arising from such use; (vi) all amendments, renewals and extensions of any of the Copyrights, Trademarks, Patents or Mask Works; and (vii) all proceeds and products of the foregoing, including without limitation all payments under
insurance or any indemnity or warranty payable in respect of any of the foregoing. 
 “Inventory” shall mean all
present and future inventory in which Borrower has any interest, including merchandise, raw materials, parts, supplies, packing and shipping materials, work in process and finished products intended for sale or lease or to be furnished under a
contract of service, of every kind and description now or at any time hereafter owned by or in the custody or possession, actual or constructive, of Borrower, including such inventory as is temporarily out of its custody or possession or in transit
and including any returns upon any accounts or other proceeds, including insurance proceeds, resulting from the sale or disposition of any of the foregoing and any documents of title representing any of the above, and Borrower’s Books relating
to any of the foregoing. 
 “Investment” shall mean the purchase or acquisition of any capital stock, equity
interest, or any obligations or other securities of, or any interest in, any Person, or the extension of any advance, loan, extension of credit or capital contribution to, or any other investment in, any Person. 

“Lien” shall mean, with respect to any property, any security interest, mortgage, pledge, lien, claim, charge or other
encumbrance in, of, or on such property or the income therefrom, including, without limitation, the interest of a vendor or lessor under a conditional sale agreement, capital lease or other title retention agreement, or any agreement to provide any
of the foregoing, and the filing of any financing statement or similar instrument under the Code or comparable law of any jurisdiction. 

“Loan Agreement” shall mean this Loan and Security Agreement, as amended, restated or otherwise modified from time to
time. 

  
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 “Management Rights Agreement” shall mean a management rights agreement
entered into by Borrower and Agent contemporaneously with the execution of this Loan Agreement. 
 “Mask Works”
shall mean all mask works or similar rights available for the protection of semiconductor chips, now owned or hereafter acquired. 

“Material Adverse Effect” shall mean a material adverse effect on (i) the business, assets, operations, or
financial condition of Borrower and its Subsidiaries, taken as a whole; (ii) the ability of Borrower and its Subsidiaries to pay or perform the Obligations in accordance with the terms of this Loan Agreement and the other Transaction Documents
and to avoid an Event of Default under any Transaction Document; or (iii) the rights and remedies of any Lender under this Loan Agreement, the other Transaction Documents or any related document, instrument or agreement. 

“Note” shall mean a promissory note or notes of Borrower substantially in the forms attached as Exhibit A hereto. 

“Obligations” shall mean and include all loans, advances, debts, liabilities, and obligations, including, without
limitation, the non-cancelable obligation to make each payment scheduled to be made under Sections 1.02 including any prepayment fee which would otherwise come due upon payment under 1.02(d) or 1.02(e), howsoever arising, owed by Borrower to Lenders
of every kind and description (whether or not evidenced by any note or instrument and whether or not for the payment of money), now existing or hereafter arising under or pursuant to the terms of this Loan Agreement or the other Transaction
Documents, including, without limitation, all interest, fees, charges, expenses, reasonable attorneys’ fees and costs and accountants’ fees and costs chargeable to and payable by Borrower hereunder and thereunder, in each case, whether
direct or indirect, absolute or contingent, due or to become due, and whether or not arising after the commencement of a proceeding under Title 11 of the United States Code (11 U.S.C. Section 101 et seq.), as amended from time to time
(including post-petition interest) and whether or not allowed or allowable as a claim in any such proceeding. Notwithstanding the foregoing, the “Obligations” shall not include Borrower’s obligations, liabilities or duties under the
Warrant or Warrant Purchase Agreement. 
 “Original Loan Agreement” shall mean that certain Loan and Security
Agreement, dated as of April 5, 2013, by and among Borrower, Agent and the Lenders party thereto. 
 “Patents”
shall mean all patents, patent applications and like protections, including without limitation improvements, divisions, continuations, renewals, reissues, extensions and continuations-in-part of the same. 

“Payment Date” shall have the meaning set forth in Section 1.02(b) of this Loan Agreement. 

“Performance Milestone” means (a) no Event of Default shall have occurred and be continuing; and (b) during
the twelve month period ending December 31, 2015, Borrower shall have achieved (i) 80% of its forecasted revenue, and (ii) 80% of its forecasted operating income (as determined in accordance with GAAP), in each case based on a plan
approved by Borrower’s Board of Directors and delivered to Agent by January 31, 2015 which plan shall be acceptable to Agent and consistent with prior plans presented to Agent, and in all cases subject to confirmatory review (but not a
formal audit) by Agent (including supporting documentation reasonably requested by Agent). 
 “Permitted
Indebtedness” shall mean: (i) Indebtedness of Borrower in favor of Lenders arising under this Loan Agreement or any other Transaction Document; (ii) Indebtedness existing at Closing and disclosed on Schedule 2;
(iii) Indebtedness secured by a lien described in clause (vi)(A) of the defined term “Permitted Liens,” provided (A) such Indebtedness does not exceed the lesser of the cost or fair market value of the equipment financed
with such Indebtedness, (B) such Indebtedness does not exceed $200,000 in the aggregate at any given time, and (C) the holder of such Indebtedness agrees to waive any rights of set off, if applicable, such holder may have with respect to
such Indebtedness in the deposit or investment accounts of Borrower and its Subsidiaries on terms reasonably satisfactory to Agent; (iv) Subordinated Debt; (v) Indebtedness incurred for the acquisition of supplies or inventory on normal
trade credit; (vi) Borrower guaranties of Subsidiaries’ real property lease obligations or letter of credit obligations that perform a guaranty 

  
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function for Subsidiaries’ real property lease obligations in an aggregate amount not to exceed $250,000; (vii) credit card balances in an amount not to exceed $50,000;
(viii) Indebtedness incurred as a result of endorsing negotiable instruments received in the ordinary course of business; (ix) unsecured Indebtedness to trade creditors and with respect to surety bonds and similar obligations incurred in
the ordinary course of business; (x) other Indebtedness in an amount not to exceed $100,000 at any time outstanding; (xi) Indebtedness owed under the Senior Loan Agreement in an aggregate principal amount of up to the lesser of
(A) $11,500,000 and (B) a borrowing base based on up to 80% of Borrower’s eligible accounts receivable and up to 50% of Borrower’s eligible purchase orders, as each are deemed eligible by the senior lender in accordance with the
terms of the Senior Loan Agreement; and (xii) extensions, refinancings, modifications, amendments and restatements of any item of Permitted Indebtedness (i) through (x) above. 

“Permitted Investments” shall mean: (i) Investments existing at Closing disclosed on
Schedule 2; (ii) (A) marketable direct obligations issued or unconditionally guaranteed by the United States of America or any agency or any State thereof maturing within one (1) year from the date of acquisition thereof,
(B) commercial paper maturing no more than one (1) year from the date of creation thereof and currently having rating of at least A-2 or P-2 from either
Standard & Poor’s Corporation or Moody’s Investors Service, Inc., and (C) certificates of deposit maturing no more than one (1) year from the date of investment therein; (iii) temporary advances to cover incidental
expenses in the ordinary course of business; (iv) investments in joint ventures, strategic alliances, licensing and similar arrangements customary in Borrower’s industry and which do not require Borrower to assume or otherwise become
liable for the obligations of any third party not directly related to or arising out of such arrangement or require Borrower to transfer ownership of non-cash assets to such joint venture or other entity; (v) Investments consisting of
(A) travel advances, employee relocation loans and other employee loans and advances in the ordinary course of business not to exceed $50,000 and (B) non-cash loans to employees, officers or directors relating to the purchase of equity
securities of Borrower pursuant to employee stock purchase plans or arrangements approved by Borrower’s board of directors; (vi) 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; and (vii) Investments where the sole consideration is Borrower’s common
stock; (viii) Investments consisting of notes receivable or, prepaid royalties and other credit obligations to customers and suppliers who are not Affiliates, in the ordinary course of business; (ix) Investments in newly-formed Domestic
Subsidiaries, provided that each such Domestic Subsidiary enters into a Joinder Agreement promptly after its formation by Borrower and execute such other documents as shall be reasonably requested by Agent; (x) Investments in Foreign
Subsidiaries in an aggregate amount equal to the lesser of (i) the amount necessary for the payment of operational expenses of any such Subsidiaries in accordance with Borrower’s most recent operating plan as approved by Borrower’s
Board of Directors and (ii) $3,750,000 in the aggregate in any fiscal year, or as otherwise approved in advance in writing by Agent; (xi) joint ventures or strategic alliances in the ordinary course of Borrower’s business consisting
of the nonexclusive licensing of technology, the development of technology or the providing of technical support, provided that any cash Investments by Borrower do not exceed $100,000 in the aggregate in any fiscal year; and (xii) additional
Investments that do not exceed $250,000 in the aggregate. 
 “Permitted Liens” shall mean and include:
(i) Liens in favor of Agent; (ii) Liens existing at Closing and disclosed on Schedule 2; (iii) other Liens subordinated to the Liens in favor of Agent; (iv) first priority liens in favor of Silicon Valley Bank or
another depository bank of Borrower on certificates of deposit not to exceed $50,000 securing business credit cards that are permitted pursuant to clause (vii) of the definition of Permitted Indebtedness; (v) Liens of carriers,
warehousemen, mechanics, materialmen, vendors, and landlords (and deposits with landlords and with financing parties providing letters of credit to act as real property lease deposits permitted under clause (vi) of the definition of Permitted
Indebtedness) incurred in the ordinary course of business for sums not overdue or being contested in good faith, provided provision is made to the reasonable satisfaction of Agent for the eventual payment thereof if subsequently found payable;
(v) leases or subleases and licenses or sublicenses granted in the ordinary course of Borrower’s business; (vi) Liens (A) upon or in any Equipment which was acquired or held by Borrower or any of its Subsidiaries pursuant to a
capital lease or to secure the purchase price of such Equipment or indebtedness incurred solely for the purpose of financing the acquisition of such Equipment, or (B) existing on such equipment at the time of its acquisition, provided that the
Lien is confined solely to the property so acquired and improvements thereon, and the proceeds of such equipment; (vii) bankers’ liens, rights of setoff and similar Liens incurred on 

  
 -23- 

 
deposits made in the ordinary course of business; (viii) Liens arising from judgments, decrees or attachments in circumstances not constituting an Event of Default; (ix) Liens for taxes
or other Taxes not at the time delinquent or thereafter payable without penalty or being contested in good faith, provided provision is made to the reasonable satisfaction of Agent for the eventual payment thereof if subsequently found payable;
(x) Liens in favor of customs and revenue authorities arising as a matter of law to secure payments of customs duties in connection with the importation of goods; (xi) Liens on insurance proceeds in favor of insurance companies granted
solely as security for financed premiums; (xii) Liens securing Indebtedness permitted under clause (xi) of the definition of Permitted Indebtedness, provided that such Liens are only permitted to the extent that they are only on property
on which Agent has a perfected security interest; (xiii) the rights of licensors under licenses to Borrower; (xiv) Liens in favor of other financial institutions arising in connection with Borrower’s deposit and/or securities accounts
held at such institutions, provided that Agent has a first priority perfected security interest in the amounts held in such deposit and/or securities accounts; (xv) Liens in favor of customs and revenue authorities using as a matter of law to
secure payment of custom duties in connection with the importation of goods; and (xvi) Liens incurred in connection with the extension, renewal or refinancing of the indebtedness secured by Liens of the type described in clauses (i)
through (iv) above, provided that any extension, renewal or replacement Lien shall be limited to the property encumbered by the existing Lien and the principal amount of the indebtedness being extended, renewed or refinanced does not
increase. 
 “Person” shall mean and include an individual, a partnership, a corporation (including a business
trust), a joint stock company, a limited liability company, an unincorporated association, a joint venture or other entity or a Governmental Authority. 

“Prime Rate” shall mean the prime rate published in the Wall Street Journal dated as of the applicable Funding Date.

 “Requirement of Law” applicable to any Person shall mean (i) the articles or certificate of incorporation,
bylaws or other governing documents of such Person, (ii) any Governmental Rule applicable to such Person, (iii) any license, permit, approval or other authorization granted by any Governmental Authority to or for the benefit of such Person
and (iv) any judgment, decision or determination of any Governmental Authority or arbitrator, 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. 

“Senior Loan Agreement” shall mean (i) that certain Loan and Security Agreement, dated as of December 17,
2012, between Borrower and Silicon Valley Bank, as amended as of the date hereof, or (ii) a replacement loan agreement reasonably acceptable to Agent, between Borrower and another senior lender reasonably acceptable to Agent (it being agreed
that Hercules Technology Growth Capital, Inc. and its affiliated funds are acceptable to Agent), in each case, as amended, restated, supplemented or otherwise modified from time to time in accordance with the Subordination Agreement; provided that
no such amendment, restatement, supplement or modification shall modify the provisions (including the definitions included therein) relating to the borrowing base, eligible accounts receivable, eligible purchase orders or the advance rates with
respect thereto, without Agent’s prior written consent. 
 “Solvent” means, with respect to any Person: the
fair salable value of such Person’s consolidated assets (including goodwill minus disposition costs) exceeds the fair value of such Person’s liabilities; such Person is not left with unreasonably small capital after the transactions in
this Agreement; and such Person is able to pay its debts (including trade debts) as they mature in accordance with their terms. 

“Subordination Agreement” shall mean (i) that certain Subordination Agreement, dated as April 5, 2013, by
and between Agent and Silicon Valley Bank, as amended as of the date hereof, or (ii) a replacement subordination agreement reasonably acceptable to Agent, by and between Borrower and another senior lender reasonably acceptable to Agent (it
being agreed that Hercules Technology Growth Capital, Inc. and its affiliated funds are acceptable to Agent), in each case, as amended, restated, supplemented or otherwise modified from time to time in accordance with the terms thereof. 

  
 -24- 

 “Subordinated Debt” shall mean any debt incurred by Borrower that is
subordinated to the debt owing by Borrower to Lenders on terms acceptable to Lenders (and identified as being such by Borrower and Lenders). 

“Subsidiary” of any Person shall mean (i) any corporation of which more than fifty percent (50%) of the
issued and outstanding equity securities having ordinary voting power to elect a majority of the Board of Directors of such corporation (irrespective of whether at the time capital stock of any other class or classes of such corporation shall or
might have voting power upon the occurrence of any contingency) is at the time directly or indirectly owned or controlled by such Person, by such Person and one or more of its other Subsidiaries or by one or more of such Person’s other
Subsidiaries, (ii) any partnership, joint venture, or other association of which more than fifty percent (50%) of the equity interest having the power to vote, direct or control the management of such partnership, joint venture or other
association is at the time owned and controlled by such Person, by such Person and one or more of the other Subsidiaries or by one or more of such Person’s other subsidiaries and (iii) any other Person included in the financial statements
of such Person on a consolidated basis. Any reference to a Subsidiary without designation of the ownership of such Subsidiary shall be deemed to refer to a Subsidiary of Borrower. 

“Tax” or “Taxes” shall mean any present or future tax, levy,
impost, duty, charge, fee, deduction or withholding of any nature and whatever called, by whomsoever, on whomsoever and wherever imposed, levied, collected, withheld or assessed, including interest, penalties, additions to tax and any similar
liabilities with respect thereto; except that, in the case of a Lender, there shall be excluded (i) taxes that are imposed on the overall net income or net profits (including franchise taxes imposed in lieu thereof) (a) by the United
States, (b) by any other Governmental Authority under the laws of which such Lender is organized or has its principal office or maintains its applicable lending office, or (c) by any jurisdiction solely as a result of a present or former
connection between such Lender and such jurisdiction (other than any such connection arising solely from such Lender having executed, delivered or performed its obligations or received a payment under, or enforced, any of the Transaction Documents),
and (ii) any branch profits taxes imposed by the United States or any similar tax imposed by any other jurisdiction in which such Lender is located. 

“Trademarks” shall mean 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 Documents” shall mean, collectively, the Loan Agreement, the Notes, the Management Rights Agreement, the
Warrant Purchase Agreement, the Warrants and the other documents executed in connection herewith. 
 “Warrant” shall
mean a warrant or warrants to purchase capital stock of the Borrower issued by Borrower to an Affiliate of Lenders pursuant to a Warrant Purchase Agreement contemporaneously with the execution of this Loan Agreement. 

“Warrant Purchase Agreement” shall mean a warrant purchase agreement under which a Warrant is issued entered into by
Borrower and an Affiliate of Lenders contemporaneously with the execution of this Loan Agreement. 
 [REMAINDER OF PAGE INTENTIONALLY LEFT
BLANK] 

  
 -25- 

 IN WITNESS WHEREOF, the parties hereto have executed this Loan Agreement as of the date first
written above. 
  

									
	AGENT:	 		 	BORROWER:
			
	PINNACLE VENTURES, L.L.C.,	 		 	AQUANTIA CORP.,
	a Delaware limited liability company	 		 	a Delaware corporation
					
	By:	 	 /s/ Robert N. Savoie
	 		 	By:	 	 /s/ Faraj Aalaei

					
	Name:	 	Robert N. Savoie	 		 	Name:	 	Faraj Aalaei
	Title:	 	Chief Financial Officer	 		 	Title:	 	President and CEO
				
	LENDERS:	 		 		 	
				
	 PINNACLE VENTURES II-A (SUB), L.P.,

a Delaware limited partnership
	 		 		 	
	 PINNACLE VENTURES II-B, L.P.,

a Delaware limited partnership
	 		 		 	
	 PINNACLE VENTURES II-C, L.P.,

a Delaware limited partnership
	 		 		 	
	 PINNACLE VENTURES II-R (SUB), L.P.,

a Delaware limited partnership
	 		 		 	
					
	By:	 	 Pinnacle Ventures Management II, L.L.C.,
 their
general partner
	 		 		 	
					
	By:	 	 /s/ Robert N. Savoie
	 		 		 	
					
	Name:	 	Robert N. Savoie	 		 		 	
	Title:	 	Chief Financial Officer	 		 		 	

 [Signature Page to Loan and Security Agreement] 

 SCHEDULE 1 
  

					
	 Lender
	  	Advance Percentage	 
		
	 PINNACLE VENTURES II-A (SUB), L.P.
	  	 	2	% 
		
	 PINNACLE VENTURES II-B, L.P.
	  	 	84	% 
		
	 PINNACLE VENTURES II-C, L.P.
	  	 	7	% 
		
	 PINNACLE VENTURES II-R (SUB), L.P.
	  	 	7	% 
		
	 Total
	  	 	100.00	% 
		  	  
	  
	 

 SCHEDULE 2 
  

			
	Other Names:	  	None
		
	Deposit and Securities Accounts:	  	Silicon Valley Bank checking account #
		
		  	SVB Asset Management account #
		
		  	SVB Certificate of Deposit account #
		
		  	SVB Cash Collateral account #
		
		  	Citibank account #
		
		  	UniCredit Bank account #
		
	Other Collateral Locations:	  	Amkor Advanced Technology Taiwan (Test and Assembly)
		
		  	KYEC Taiwan (Test and Assembly)
		
		  	ISE (Test and Assembly)
		
		  	ASE (Test and Assembly)
		
		  	JSI Shipping (Hong Kong) (Shipping Warehouse)
		
	Existing Indebtedness:	  	None.
		
	Existing Investments:	  	Investments in the equity interest of:
		
		  	Aquantia Semiconductor India Private Limited
		  	Aquantia Rus Limited Liability Company
		  	Novin IP, Inc.
		  	Aquantia B.V. – (in process of formation)
		
	Existing Liens:	  	None.

 EXHIBIT A-1 

TRANCHE 1 AMENDED AND RESTATED SECURED PROMISSORY
NOTE 
  

			
	$15,000,000	  	Dated: December 16, 2014

 FOR VALUE RECEIVED, the undersigned, AQUANTIA CORP. (“Borrower”), a Delaware corporation,
HEREBY PROMISES TO PAY to the order of Pinnacle Ventures, L.L.C. (“Agent”) for the account of the Lenders the principal amount of Fifteen Million Dollars ($15,000,000) or such lesser amount as shall equal the aggregate outstanding
principal balance of the Advance made by Agent on the date hereof to Borrower pursuant to the Loan and Security Agreement referred to below (the “Loan Agreement”), plus all payments arising under Sections 1.02(b) (excluding the portion of
the payments representing the original principal amount), 1.02(c), 1.02(d) and 1.02(e) of the Loan Agreement with respect to such Advance, on the dates and in the amounts set forth in the Loan Agreement. Capitalized terms used herein and not
otherwise defined have the respective meanings set forth in the Loan Agreement. 
 Payments under this Note shall be made as follows
(subject to adjustment pursuant to Sections 1.02(a) and 1.02(b)): 
  

			
	Interim Payment on Funding Date:	  	$135,416.67
		
	20 monthly payments on the first Business Day of each Month after the Funding Date	  	$156,250.00, commencing May 1, 2013
		
	15 monthly payments on the first Business Day of each Month after the Funding Date	  	$109,375.00, commencing February 1, 2015
		
	27 monthly payments on the first Business Day of each Month after the Funding Date	  	$614,052.84, commencing May 1, 2016
		
	Final Payment	  	$967,500.00, on July 1, 2018

 All other payments due under this Note or under the Loan Agreement shall be payable as and when
specified in the Loan Agreement. 
 This Note is one of the Notes referred to in, and is entitled to the benefits of, the Amended and
Restated Loan and Security Agreement, dated as of December 16, 2014, between Borrower, Agent and the Lenders (as may be amended, restated, supplemented or otherwise modified from time to time). This Note and the obligation of Borrower to repay
the unpaid principal amount of the Advance, interest on the Advance, premium, if any, and all other amounts due Agent and Lenders under the Loan Agreement is secured under the Loan Agreement. 

This Note amends, re-evidences, restates and supersedes in full, but shall not constitute a novation or an accord and satisfaction of, the
outstanding indebtedness owed under that certain Secured Promissory Note, dated April 5, 2013, in an original principal amount of $15,000,000, made by Borrower in favor of Agent. 

Presentment for payment, demand, notice of protest and all other demands and notices of any kind in connection with the execution, delivery,
performance and enforcement of this Note are hereby waived. 
 Borrower shall pay all reasonable fees and expenses, including, without
limitation, reasonable attorneys’ fees and costs, incurred by Agent or any Lender in the enforcement or attempt to enforce any of 

  
 A-1 

 
Borrower’s obligations hereunder not performed when due. This Note shall be governed by, and construed and interpreted in accordance with, the laws of the State of California, without regard
to principles of conflicts of law. 

  
 A-2 

 IN WITNESS WHEREOF, Borrower has caused this Note to be duly executed by one of its officers
thereunto duly authorized on the date hereof. 
  

			
	AQUANTIA CORP.,
	a Delaware corporation
		
	By:	 	  

		
	Name:	 	  

		
	Title:	 	  

  
 A-3 

 EXHIBIT A-2 

TRANCHE 2 SECURED PROMISSORY NOTE 

 

			
	$8,800,000	  	Dated: December 16, 2014

 FOR VALUE RECEIVED, the undersigned, AQUANTIA CORP. (“Borrower”), a Delaware corporation,
HEREBY PROMISES TO PAY to the order of Pinnacle Ventures, L.L.C. (“Agent”) for the account of the Lenders the principal amount of Eight Million Eight Hundred Thousand Dollars ($8,800,000) or such lesser amount as shall equal the aggregate
outstanding principal balance of the Advance made by Agent on the date hereof to Borrower pursuant to the Loan and Security Agreement referred to below (the “Loan Agreement”), plus all payments arising under Sections 1.02(b) (excluding the
portion of the payments representing the original principal amount), 1.02(c), 1.02(d) and 1.02(e) of the Loan Agreement with respect to such Advance, on the dates and in the amounts set forth in the Loan Agreement. Capitalized terms used herein and
not otherwise defined have the respective meanings set forth in the Loan Agreement. 
 Payments under this Note shall be made as follows
(subject to adjustment pursuant to Sections 1.02(a) and 1.02(b)): 
  

			
	Interim Payment:	  	$34,222.22, on January 1, 2015
		
	15 monthly payments on the first Business Day of each Month after the Funding Date	  	$64,166.67, commencing February, 1, 2015
		
	27 monthly payments on the first Business Day of each Month after the Funding Date	  	$360,244.33, commencing May 1, 2016
		
	Final Payment	  	$567,600.00, on July 1, 2018

 All other payments due under this Note or under the Loan Agreement shall be payable as and when
specified in the Loan Agreement. 
 This Note is one of the Notes referred to in, and is entitled to the benefits of, the Amended and
Restated Loan and Security Agreement, dated as of December 16, 2014, between Borrower, Agent and the Lenders (as may be amended, restated, supplemented or otherwise modified from time to time). This Note and the obligation of Borrower to repay
the unpaid principal amount of the Advance, interest on the Advance, premium, if any, and all other amounts due Agent and Lenders under the Loan Agreement is secured under the Loan Agreement. 

Presentment for payment, demand, notice of protest and all other demands and notices of any kind in connection with the execution, delivery,
performance and enforcement of this Note are hereby waived. 
 Borrower shall pay all reasonable fees and expenses, including, without
limitation, reasonable attorneys’ fees and costs, incurred by Agent or any Lender in the enforcement or attempt to enforce any of Borrower’s obligations hereunder not performed when due. This Note shall be governed by, and construed and
interpreted in accordance with, the laws of the State of California, without regard to principles of conflicts of law. 

  
 A-1 

 IN WITNESS WHEREOF, Borrower has caused this Note to be duly executed by one of its officers
thereunto duly authorized on the date hereof. 
  

			
	AQUANTIA CORP.,
	a Delaware corporation
		
	By:	 	  

		
	Name:	 	  

		
	Title:	 	  

  
 A-2 

 EXHIBIT B 

The Collateral shall consist of all right, title, interest, claims and demands of Borrower in and to the following: 

(a) All goods and equipment now owned or hereafter acquired, including, without limitation, all laboratory equipment, computer equipment,
office equipment, machinery, fixtures, vehicles, and any interest in any of the foregoing, and all attachments, accessories, accessions, replacements, substitutions, additions, and improvements to any of the foregoing, wherever located; 

(b) All inventory now owned or hereafter acquired, including, without limitation, all merchandise, raw materials, parts, supplies, packing and
shipping materials, work in process and finished products including such inventory as is temporarily out of Borrower’s custody or possession or in transit and including any returns upon any accounts or other proceeds, including insurance
proceeds, resulting from the sale or disposition of any of the foregoing and any documents of title representing any of the above, and Borrower’s books relating to any of the foregoing; 

(c) All contract rights, general intangibles, health care insurance receivables, payment intangibles and commercial tort claims, now owned or
hereafter acquired, including, without limitation, all patents, patent rights (and applications and registrations therefor), trademarks and service marks (and applications and registrations therefor), inventions, copyrights, mask works (and
applications and registrations therefor), trade names, trade styles, software and computer programs, trade secrets, methods, processes, know how, drawings, specifications, descriptions, and all memoranda, notes, and records with respect to any
research and development, goodwill, license agreements, franchise agreements, blueprints, drawings, purchase orders, customer lists, route lists, infringements, claims, computer programs, computer disks, computer tapes, literature, reports,
catalogs, design rights, income tax refunds, payments of insurance and rights to payment of any kind and whether in tangible or intangible form or contained on magnetic media readable by machine together with all such magnetic media; 

(d) All now existing and hereafter arising accounts, contract rights, royalties, license rights and all other forms of obligations owing to
Borrower arising out of the sale or lease of goods, the licensing of technology or the rendering of services by Borrower (subject, in each case, to the contractual rights of third parties to require funds received by Borrower to be expended in a
particular manner), whether or not earned by performance, and any and all credit insurance, guaranties, and other security therefor, as well as all merchandise returned to or reclaimed by Borrower and Borrower’s books relating to any of the
foregoing; 
 (e) All documents, cash, deposit accounts, letter of credit rights, supporting obligations, certificates of deposit,
instruments, chattel paper, electronic chattel paper, tangible chattel paper and investment property, including, without limitation, all securities, whether certificated or uncertificated, security entitlements, securities accounts, commodity
contracts and commodity accounts, and all financial assets held in any securities account or otherwise, wherever located, now owned or hereafter acquired and Borrower’s books relating to the foregoing; and 

(f) Any and all claims, rights and interests in any of the above and all substitutions for, additions and accessions to and proceeds thereof,
including, without limitation, insurance, condemnation, requisition or similar payments and the proceeds thereof. 

 Notwithstanding the foregoing, the Collateral shall not be deemed to include any of the
following: 
  

	 	(i)	accounts at Silicon Valley Bank account numbers                  and
                 to secure corporate credit cards so long as he balance does not exceed $50,000 at any time; 

 

	 	(ii)	more than 65% of the presently existing and hereafter arising issued and outstanding shares of capital stock owned by Borrower of any Foreign Subsidiary which shares entitle the holder thereof to vote for directors or
any other matter. 

  

	 	(iii)	any copyrights, copyright applications, copyright registrations and like protection in each work of authorship and derivative work thereof, whether published or unpublished, now owned or hereafter acquired; any patents,
patent applications and like protections including without limitation improvements, divisions, continuations, renewals, reissues, extensions and continuations-in-part of the same, trademarks, servicemarks and applications therefor, whether
registered or not, and the goodwill of the business of Borrower connected with and symbolized by such trademarks, any trade secret rights, including any rights to unpatented inventions, know-how, operating manuals, license rights and agreements and
confidential information, now owned or hereafter acquired; or any claims for damage by way of any past, present and future infringement of any of the foregoing (collectively, the “Intellectual Property”), except that the Collateral shall
include (A) the proceeds of all the Intellectual Property that are accounts, (i.e. accounts receivable) of Borrower, or general intangibles consisting of rights to payment, and (B) if a judicial authority (including a U.S. Bankruptcy
Court) holds that a security interest in the underlying Intellectual Property is necessary to have a security interest in such accounts and general intangibles of Borrower that are proceeds of the Intellectual Property, then the Collateral shall
automatically, and effective as of the date of Closing, include the Intellectual Property to the extent necessary to permit perfection of Agent’s security interest in such accounts and general intangibles of Borrower that are proceeds of the
Intellectual Property; and 

  

	 	(iv)	any interest of Borrower as a lessee under a real property lease to the extent Borrower is prohibited under such real property lease from encumbering such interest, but only to the extent such prohibition is enforceable
under applicable law (after giving effect to Sections 9407 and 9408 of the California Uniform Commercial Code). 

 AMENDMENT NO. 1 

TO AMENDED AND RESTATED LOAN AND SECURITY AGREEMENT 

This AMENDMENT NO. 1 TO AMENDED AND RESTATED LOAN AND SECURITY AGREEMENT (this “Amendment”), dated as of
January 30, 2015, is entered into by and among AQUANTIA CORP., a Delaware corporation (the “Borrower”), Pinnacle Ventures, L.L.C. as agent (“Agent”) for each of the lenders that is a signatory to this
Amendment (individually, a “Lender” and collectively, the “Lenders”), and the Lenders. 
 WITNESSETH

 WHEREAS, the Borrower, Agent and the Lenders are parties to that certain Amended and Restated Loan and Security Agreement, dated
as of December 16, 2014 (as amended, restated, supplemented or otherwise modified from time to time, the “Loan Agreement”); and 

WHEREAS, Borrower has requested certain amendments to the Loan Agreement and, subject to the satisfaction of the conditions set forth herein,
the Agent and the Lenders are willing to amend the Loan Agreement on the terms set forth herein. 
 NOW, THEREFORE, for good and valuable
consideration, the receipt and sufficiency of which are hereby acknowledged, the parties agree as follows: 
 2. DEFINITIONS Capitalized terms used
herein and not otherwise defined herein shall have the meanings ascribed to them in the Loan Agreement, as amended hereby. 
 3. AMENDMENTS TO LOAN
AGREEMENT. 
 (a) Section 1.02(e)(ii) of the Loan Agreement is hereby amended and restated in its entirety as follows: 

“(ii) Mandatory Prepayment on Change of Control. Upon an acquisition of Borrower by a “person” (as such term is used in
Section 13(d) and 14(d) of the Securities Exchange Act of 1934), whether by merger or consolidation, or a transaction or series of transactions pursuant to which the holders of Borrower’s voting Equity Securities immediately prior to such
transaction or series of transactions do not hold at least 50% of the voting power of Borrower or any resulting company after such transaction or transactions, or the sale of all or substantially all of Borrower’s assets, or the sale or
issuance by Borrower of new shares of Preferred Stock of Borrower to investors, none of whom are current investors in Borrower, and such new shares of Preferred Stock are senior to all existing Preferred Stock and Common Stock with respect to
liquidation preferences, and the aggregate liquidation preference of the new shares of Preferred Stock is more than fifty percent (50%) of the aggregate liquidation preference of all shares of Preferred Stock of Borrower (each, a
“Change of Control”; provided, however, an initial public offering of Borrower’s stock shall not constitute a Change of Control), Borrower shall prepay the Advances, in an amount equal to the outstanding principal
amounts Advances, plus accrued and unpaid interest thereon through and including the date of such prepayment, plus the Final Payment, plus any other amounts then due to Agent or Lenders; provided, that if any such Advances are prepaid (i) on or
prior to the date that is 2 years after Closing, there will be a 2.0% premium on the outstanding principal amount payable in conjunction with the prepayment, and (ii) after the date that is 2 years after Closing, there will be a 1.0% premium on
the outstanding principal amount payable in conjunction with the prepayment (the “Mandatory Prepayment Premium”).” 

 (b) Section 5.19 of the Loan Agreement is hereby amended and restated in its entirety as
follows: 
 “Section 5.19 Indebtedness Payments. Borrower shall not (i) prepay, redeem, purchase, defease or
otherwise satisfy in any manner prior to the scheduled repayment thereof any Indebtedness for borrowed money (other than amounts due or permitted to be prepaid under this Loan Agreement, the Senior Loan Agreement or the Subordination Agreement) or
any lease obligations, (ii) amend, modify or otherwise change the terms of any Indebtedness (other than the Advances) or lease obligations so as to accelerate the scheduled repayment thereof or (iii) repay any Indebtedness to officers,
directors or shareholders.” 
 (c) Section 5.20 of the Loan Agreement is hereby amended and restated in its entirety as follows:

 “Section 5.20 Accounts. Borrower shall not, and shall not permit its Subsidiaries to, maintain any deposit accounts or
securities accounts except accounts with respect to which Agent has obtained an agreement with the bank or other financial institution or, so long as Senior Agent is maintaining control on behalf of itself and Agent, with the Senior Agent sufficient
to perfect a security interest in such deposit accounts or securities accounts, provided that Borrower may maintain accounts at Silicon Valley Bank account numbers 8800060588 and 3300943451 to secure corporate credit cards so long as the balance
does not exceed $50,000 at any time.” 
 (d) A new Section 5.21 is hereby added to the Loan Agreement immediately after
Section 5.20 thereof as follows: 
 “5.21 Senior Loan Agreement. 

(a) Borrower shall not, without the prior written consent of Agent, enter into any amendment, restatement, supplement or modification to the
Senior Loan Agreement that (i) modifies the provisions (including the definitions included therein) specifically relating to the borrowing base, eligible accounts receivable, eligible purchase orders or the advance rates with respect thereto,
(ii) eliminates the borrowing base from the Senior Loan Agreement or (iii) adds any facility for advances not based on the borrowing base, other than Protective Advances. Notwithstanding the foregoing, Borrower shall be permitted to amend
the Senior Loan Agreement without the consent of Agent solely to amend the eligibility requirements (i) with respect to eligible accounts receivable and eligible purchase orders, to include additional specific customers under any section that
references a list of specific customers and (ii) with respect to eligible accounts receivable, to increase the number of days that an eligible account may be outstanding to up to 120 days from the original invoice date. 

(b) Borrower shall provide written notice to Agent within three (3) Business Days of entering into any amendment, restatement, supplement
or modification of the Senior Loan Agreement.” 
 (e) Section 7.01(c) of the Loan Agreement is hereby amended and restated in its
entirety as follows: 
 “(c) Breaches of Other Covenants. Borrower or any of its Subsidiaries shall fail to perform or observe
(i) any of the terms, covenants or agreements contained in Sections 5.03, 5.05, or 5.11 through 5.21 hereof or (ii) any other term, covenant, or agreement contained in any Transaction Document (other than the other Events of Default
specified in this Article 7) and such failure remains unremedied for the earlier of twenty (20) days from (x) the date on which the Agent has given the Borrower written notice of such failure and (y) the date on which any officer
of the Borrower became aware of such failure; or” 

 (f) A new Section 9.22 is hereby added to the Loan Agreement immediately after
Section 9.21 thereof as follows: 
 “Section 9.22 Subordination. This Loan Agreement is subject to the terms and
provisions of the Subordination Agreement and Agent and the Lenders shall be bound by the provisions of the Subordination Agreement. Notwithstanding anything herein to the contrary, if any conflict arises between the terms of this Loan Agreement and
the terms of the Subordination Agreement, the terms of the Subordination Agreement shall govern and control.” 
 (g) Clause
(xi) of the definition of “Permitted Indebtedness” set forth in Article 10 of the Loan Agreement is hereby amended and restated in its entirety as follows: 

“(xi) Indebtedness owed under the Senior Loan Agreement in an aggregate principal amount of up to the lesser of (A) $12,500,000
(inclusive of the amount of any Protective Advances), and (B) a borrowing base under which fundings are based on up to 80% of Borrower’s eligible accounts receivable and up to 50% of Borrower’s eligible purchase orders, as each are
deemed eligible by the senior lender in accordance with the terms of the Senior Loan Agreement, plus the amount of any Protective Advances; and” 

(h) The definition of “Permitted Liens” set forth in Article 10 of the Loan Agreement is hereby amended and restated in its entirety
as follows: 
 “‘Permitted Liens’ shall mean and include: (i) Liens in favor of Agent; (ii) Liens
existing at Closing and disclosed on Schedule 2; (iii) other Liens subordinated to the Liens in favor of Agent; (iv) first priority liens in favor of Silicon Valley Bank or another depository bank of Borrower on certificates of
deposit not to exceed $50,000 securing business credit cards that are permitted pursuant to clause (vii) of the definition of Permitted Indebtedness; (v) Liens of carriers, warehousemen, mechanics, materialmen, vendors, and landlords (and
deposits with landlords and with financing parties providing letters of credit to act as real property lease deposits permitted under clause (vi) of the definition of Permitted Indebtedness) incurred in the ordinary course of business for sums
not overdue or being contested in good faith, provided provision is made to the reasonable satisfaction of Agent for the eventual payment thereof if subsequently found payable; (vi) leases or subleases and licenses or sublicenses granted in the
ordinary course of Borrower’s business; (vii) Liens (A) upon or in any Equipment which was acquired or held by Borrower or any of its Subsidiaries pursuant to a capital lease or to secure the purchase price of such Equipment or
indebtedness incurred solely for the purpose of financing the acquisition of such Equipment, or (B) existing on such equipment at the time of its acquisition, provided that the Lien is confined solely to the property so acquired and
improvements thereon, and the proceeds of such equipment; (viii) bankers’ liens, rights of setoff and similar Liens incurred on deposits made in the ordinary course of business; (ix) Liens arising from judgments, decrees or
attachments in circumstances not constituting an Event of Default; (x) Liens for taxes or other Taxes not at the time delinquent or thereafter payable without penalty or being contested in good faith, provided provision is made to the
reasonable satisfaction of Agent for the eventual payment thereof if subsequently found payable; (xi) Liens in favor of customs and revenue authorities arising as a matter of law to secure payments of customs duties in connection with the
importation of goods; (xii) Liens on insurance proceeds in favor of insurance companies granted solely as security for financed premiums; (xiii) Liens securing Indebtedness permitted under clause (xi) of the definition of Permitted
Indebtedness, provided that such Liens are only permitted to the extent that they are only on property on which Agent has a perfected security interest; (xiv) the rights of licensors under licenses to Borrower; (xv) Liens in favor of other
financial institutions arising in connection with Borrower’s deposit and/or securities accounts held at such institutions, provided that Agent has a perfected security interest in the amounts held in such deposit and/or securities accounts; and
(xvi) Liens incurred in connection with the extension, renewal or refinancing of the indebtedness secured by Liens of the type described in clauses (i) through (iv) above, provided that

 
any extension, renewal or replacement Lien shall be limited to the property encumbered by the existing Lien and the principal amount of the indebtedness being extended, renewed or refinanced does
not increase.” 
 (i) The following definitions set forth in Article 10 of the Loan Agreement are hereby added in alphabetical order or
amended and restated in their entirety, as applicable, as follows: 
 “‘Protective Advance’ means additional
advances in an aggregate principal amount of up to One Million Dollars ($1,000,000) made after the occurrence of an Event of Default under the Senior Loan Agreement which are extended (i) for the purpose of repairing, protecting, preserving, or
preparing for sale, transfer, assignment or disposition of the Borrower or the Collateral or any portion thereof or (ii) to pay any other amount chargeable to Borrower pursuant to the terms of the Senior Loan Agreement.” 

“‘Senior Agent’ shall mean the agent of the lenders under the Senior Loan Agreement.” 

“‘Senior Loan Agreement’ shall mean (i) that certain Loan and Security Agreement, dated as of
January 30, 2015, between Borrower and Hercules Technology Growth Capital, Inc. (or its permitted successors and assigns), or (ii) a replacement loan agreement reasonably acceptable to Agent, between Borrower and another senior lender
reasonably acceptable to Agent, in each case, as amended, restated, supplemented or otherwise modified from time to time in accordance with the Subordination Agreement; provided that no such amendment, restatement, supplement or modification shall
modify the provisions (including the definitions included therein) specifically relating to the borrowing base, eligible accounts receivable, eligible purchase orders or the advance rates with respect thereto, without Agent’s prior written
consent. Notwithstanding the foregoing, Borrower shall be permitted to amend the Senior Loan Agreement without the consent of Agent solely to amend the eligibility requirements (i) with respect to eligible accounts receivable and eligible
purchase orders, to include additional specific customers under any section that references a list of specific customers and (ii) with respect to eligible accounts receivable, to increase the number of days that an eligible account may be
outstanding to up to 120 days from the original invoice date.” 
 4. REPRESENTATIONS AND WARRANTIES. (a) Borrower hereby represents and warrants
to the Agent and the Lenders as follows: 
 (i) It has the requisite power and authority to execute and deliver this Amendment and to
perform its obligations hereunder and under the Transaction Documents to which it is a party. The execution, delivery, and performance by it of this Amendment and the performance by it of each Transaction Document to which it is a party
(i) have been duly approved by all necessary action on the part of Borrower and no other proceedings are necessary to consummate such transactions on the part of Borrower; and (ii) are not in contravention of (A) any Requirement of
Law applicable to Borrower; or (B) any provision of any material Contractual Obligation of Borrower; 
 (ii) This Amendment has been
duly executed and delivered by Borrower. This Amendment and each Transaction Document to which it is a party is its legal, valid and binding obligation, enforceable against it in accordance with its terms, and is in full force and effect except as
such validity and enforceability is limited by the laws of insolvency and bankruptcy, laws affecting creditors’ rights and principles of equity applicable hereto; 

(iii) No actions (including, without limitation, derivative actions), suits, proceedings or investigations are pending or, to the knowledge of
Borrower, threatened against Borrower or Borrower’s Subsidiaries at law or in equity in any court or before any other Governmental Authority which if adversely determined (i) could reasonably be expected (alone or in the aggregate) to have
a Material Adverse Effect or (ii) seek to enjoin, either directly or indirectly, the execution, delivery or performance by Borrower of the Transaction Documents or the transactions contemplated thereby; 

 (iv) No Default or Event of Default has occurred and is continuing on the date hereof or as of
the date of the effectiveness of this Amendment; and 
 (v) The representations and warranties in the Loan Agreement and the other
Transaction Documents are true and correct in all material respects on and as of the date hereof, as though made on such date (except to the extent that such representations and warranties relate solely to an earlier date). 

5. CONDITIONS PRECEDENT TO AMENDMENT. The satisfaction of each of the following shall constitute conditions precedent to the effectiveness of this
Amendment and each and every provision hereof: 
 (a) Agent shall have received this Amendment duly executed by the parties hereto, and the
same shall be in full force and effect; 
 (b) Agent shall have received a copy of all necessary consents of shareholders of Borrower and
other third parties with respect to the subject matter this Amendment and the other documents being executed in connection herewith; 
 (c)
Agent shall have received (i) a true and correct copy of the final, executed Senior Loan Agreement between Borrower and Hercules Technology Growth Capital, Inc. and (ii) the duly executed Subordination Agreement between Agent and Hercules
Technology Growth Capital, Inc., each in form and substance satisfactory to Agent; 
 (d) The representations and warranties in this
Amendment and the Loan Agreement, as amended by this Amendment, shall be true and correct in all material respects on and as of the date hereof, as though made on such date (except to the extent that such representations and warranties relate solely
to an earlier date); and 
 (e) No Default or Event of Default shall have occurred and be continuing on the date hereof or as of the date of
the effectiveness of this Amendment. 
 6. GOVERNING LAW. THIS AMENDMENT SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE INTERNAL LAWS OF
THE STATE OF CALIFORNIA, WITHOUT REGARD TO PRINCIPLES OF CONFLICTS OF LAWS. 
 7. ENTIRE AMENDMENT; EFFECT OF AMENDMENT. This Amendment, and the
terms and provisions hereof, constitute the entire agreement among the parties pertaining to the subject matter hereof and supersedes any and all prior or contemporaneous agreements relating to the subject matter hereof. Except for the amendments to
the Loan Agreement expressly set forth in Section 2 hereof, the Loan Agreement and other Transaction Documents shall remain unchanged and in full force and effect. To the extent any terms or provisions of this Amendment conflict with those of
the Loan Agreement or other Transaction Documents, the terms and provisions of this Amendment shall control. This Amendment is a Transaction Document. 

8. COUNTERPARTS; TELECOPY EXECUTION. This Amendment may be executed in any number of counterparts, all of which taken together shall constitute one and
the same instrument and any of the parties hereto may execute this Amendment by signing any such counterpart. Delivery of an executed counterpart of this Amendment by telecopy shall be equally as effective as delivery of an original executed
counterpart of this Amendment. Any party delivering an executed counterpart of this Amendment by telecopy also shall deliver an original executed counterpart of this Amendment, but the failure to deliver an original executed counterpart shall not
affect the validity, enforceability, and binding effect of this Amendment. 

 9. MISCELLANEOUS. 

(a) Upon the effectiveness of this Amendment, each reference in the Loan Agreement to “this Agreement”, “hereunder”,
“herein”, “hereof” or words of like import referring to the Loan Agreement shall mean and refer to the Loan Agreement as amended by this Amendment. 

(b) Upon the effectiveness of this Amendment, each reference in the Transaction Documents to the “Loan Agreement”,
“thereunder”, “therein”, “thereof” or words of like import referring to the Loan Agreement shall mean and refer to the Loan Agreement as amended by this Amendment. 

[Signature page follows.] 

 IN WITNESS WHEREOF, the parties hereto have executed this Amendment as of the date first written
above. 
  

									
	AGENT:	 		 	BORROWER:
			
	PINNACLE VENTURES, L.L.C.,	 		 	AQUANTIA CORP.,
	a Delaware limited liability company	 		 	a Delaware corporation
					
	By:	 	 /s/ Robert N. Savoie
	 		 	By:	 	 /s/ Faraj Aalaei

					
	Name:	 	Robert N. Savoie	 		 	Name:	 	Faraj Aalaei
	Title:	 	Chief Operating Officer	 		 	Title:	 	President and Chief Executive Officer
				
	LENDERS:	 		 		 	
				
	 PINNACLE VENTURES II-A (SUB), L.P.,

a Delaware limited partnership
	 		 		 	
	 PINNACLE VENTURES II-B, L.P.,

a Delaware limited partnership
	 		 		 	
	 PINNACLE VENTURES II-C, L.P.,

a Delaware limited partnership
	 		 		 	
	 PINNACLE VENTURES II-R (SUB), L.P.,

a Delaware limited partnership
	 		 		 	
					
	By:	 	Pinnacle Ventures Management II, L.L.C.,	 		 		 	
		 	their general partner	 		 		 	
					
	By:	 	 /s/ Robert N. Savoie
	 		 		 	
	Name:	 	Robert N. Savoie	 		 		 	
	Title:	 	Chief Financial OfficerEX-10.11

 Exhibit 10.11 

Execution Version 

LOAN AND SECURITY AGREEMENT 

THIS LOAN AND SECURITY AGREEMENT is made and dated as of January 30, 2015 and is entered into by and between AQUANTIA CORP., a Delaware
corporation (hereinafter referred to as the “Borrower”), the several banks and other financial institutions or entities from time to time parties to this Agreement (collectively, referred to as “Lender”) and HERCULES TECHNOLOGY
GROWTH CAPITAL, INC., a Maryland corporation, in its capacity as administrative agent for itself and the Lender (in such capacity, the “Agent”). 

RECITALS 
 A. Borrower has
requested Lender to make available to Borrower a revolving facility in an aggregate principal amount of up to Eleven Million Five Hundred Thousand Dollars ($11,500,000) (the “Revolving Loan”); and 

B. Lender is willing to make the Revolving Loan on the terms and conditions set forth in this Agreement. 

AGREEMENT 
 NOW,
THEREFORE, Borrower, Agent and Lender agree as follows: 
 SECTION 1. DEFINITIONS AND RULES OF CONSTRUCTION 

1.1 Unless otherwise defined herein, the following capitalized terms shall have the following meanings: 

“A/R Advance” means a Revolving Loan Advance for which Borrower has requested the Borrowing Base calculation to be based on
Eligible Accounts. 
 “Account Control Agreement(s)” means any agreement entered into by and among the Agent, Borrower and a
third party bank or other institution (including a Securities Intermediary) in which Borrower maintains a Deposit Account or an account holding Investment Property and which perfects Agent’s first priority security interest in the subject
account or accounts, subject to Permitted Liens. 
 “ACH Authorization” means the ACH Debit Authorization Agreement in
substantially the form of Exhibit I. 
 “Advance(s)” means a Revolving Loan Advance. 

“Advance Date” means the funding date of any Advance. 

“Advance Request” means a request for an Advance submitted by Borrower to Agent in substantially the form of Exhibit A. 

 “Agent” has the meaning given to it in the preamble to this Agreement. 

“Agreement” means this Loan and Security Agreement, as amended, restated or modified from time to time. 

“Assignee” has the meaning given to it in Section 11.13. 

“Bookings” shall mean contracts for Borrower Products for which revenue (determined in accordance with GAAP) has yet to be booked
but will be booked in accordance with such contract within the next 12 months. 
 “Borrower” has the meaning given to it in the
preamble to this Agreement. 
 “Borrower Products” means all products, software, service offerings, technical data or technology
currently being designed, manufactured or sold by Borrower or which Borrower intends to sell, license, or distribute in the future including any products or service offerings under development, collectively, together with all products, software,
service offerings, technical data or technology that have been sold, licensed or distributed by Borrower since its incorporation. 

“Borrowing Base” means, unless otherwise provided herein, up to (i) 80% of Eligible Accounts, with respect to A/R Advances,
and (ii) 50% of Eligible Purchase Orders, with respect to P/O Advances. 
 “Borrowing Base Certificate” means a borrowing
base certificate substantially in the form of Exhibit H. 
 “Business Day” means any day other than Saturday, Sunday and any
other day on which banking institutions in the State of California are closed for business. 
 “Cash” means all cash and liquid
funds. 
 “Change in Control” means any (i) reorganization, recapitalization, consolidation or merger (or similar
transaction or series of related transactions) of Borrower or any Subsidiary, sale or exchange of outstanding shares (or similar transaction or series of related transactions) of Borrower or any Subsidiary in which the holders of Borrower or
Subsidiary’s outstanding shares immediately before consummation of such transaction or series of related transactions do not, immediately after consummation of such transaction or series of related transactions, retain shares representing more
than fifty percent (50%) of the voting power of the surviving entity of such transaction or series of related transactions (or the parent of such surviving entity if such surviving entity is wholly owned by such parent), in each case without
regard to whether Borrower or Subsidiary is the surviving entity, or (ii) sale or issuance by Borrower of new shares of Preferred Stock of Borrower to investors, none of whom are current investors in Borrower, and such new shares of Preferred
Stock are senior to all existing Preferred Stock and Common Stock with respect to liquidation preferences, and the aggregate liquidation preference of the new shares of Preferred Stock is more than fifty percent (50%) of the aggregate
liquidation preference of all shares of Preferred Stock of Borrower; provided, however, an Initial Public Offering shall not constitute a Change in Control. 

 “Claims” has the meaning given to it in Section 11.10. 

“Closing Date” means the date of this Agreement. 

“Collateral” means the property described in Section 3. 

“Commitment Fee” means $60,000, which fee is due to Lender on or prior to the Closing Date, and shall be deemed fully earned on
such date regardless of the early termination of this Agreement. 
 “Common Stock” means the Common Stock, $0.00001 par value per
share, of the Borrower. 
 “Confidential Information” has the meaning given to it in Section 11.12. 

“Contingent Obligation” means, as applied to any Person, any direct or indirect liability, contingent or otherwise, of that Person
with respect to (i) any Indebtedness, lease, dividend, letter of credit or other obligation of another, including any such obligation directly or indirectly guaranteed, endorsed, co-made or discounted or sold with recourse by that Person, or in
respect of which that Person is otherwise directly or indirectly liable; (ii) any obligations with respect to undrawn letters of credit, corporate credit cards or merchant services issued for the account of that Person; and (iii) all
obligations arising under any interest rate, currency or commodity swap agreement, interest rate cap agreement, interest rate collar agreement, or other agreement or arrangement designated to protect a Person against fluctuation in interest rates,
currency exchange rates or commodity prices; provided, however, that the term “Contingent Obligation” shall not include endorsements for collection or deposit in the ordinary course of business. The amount of any Contingent Obligation
shall be deemed to be an amount equal to the stated or determined amount of the primary obligation in respect of which such Contingent Obligation is made or, if not stated or determinable, the maximum reasonably anticipated liability in respect
thereof as determined by such Person in good faith; provided, however, that such amount shall not in any event exceed the maximum amount of the obligations under the guarantee or other support arrangement. 

“Copyright License” means any written agreement granting any right to use any Copyright or Copyright registration, now owned or
hereafter acquired by Borrower or in which Borrower now holds or hereafter acquires any interest. 
 “Copyrights” means all
copyrights, whether registered or unregistered, held pursuant to the laws of the United States of America, any State thereof, or of any other country. 

“Deposit Accounts” means any “deposit accounts,” as such term is defined in the UCC, and includes any checking account,
savings account, or certificate of deposit. 
 “Domestic Subsidiary” means any Subsidiary that is not a Foreign Subsidiary. 

“Eligible Accounts” means Accounts receivable arising in the ordinary course of Borrower’s business. Agent reserves the right
at any following the completion of an audit or field examination of Borrowers Accounts receivable the results of which reflect a material change to 

 
the make-up of Borrower’s Accounts receivable from the make-up of Borrower’s Accounts receivable on or prior to the Closing Date of most recent audit or field examination, to adjust any
of the criteria set forth below and to establish new criteria in its good faith credit judgment upon providing Borrower five (5) days’ prior written notice of such new criteria. Unless otherwise agreed by Agent, Eligible Accounts shall not
include the following: 
 (a) Accounts that the account debtor has failed to pay in full within 60 days of invoice date;
provided, however, that up to ten percent (10%) of the Eligible Accounts may be Accounts that the account debtor has failed to pay in full within 60 days (but no later than within 90 days) of the original invoice date; 

(b) Accounts owing by an account debtor (other than any Tier 1 Customer), including its affiliates, whose total obligations to
Borrower exceed 30% of all Accounts, to the extent those obligations exceed that percentage, except as approved by Agent; 

(c) Accounts owing by an account debtor, including its affiliates, 25% of whose Accounts the account debtor has failed to pay
within 60 days of invoice date; 
 (d) Accounts owing by an account debtor (other than any Tier 1 Customer or any Person
listed on Schedule 1D) that does not have its principal place of business in the United States of America or Canada, except as approved by Agent; 

(e) Accounts owing by an account debtor that Borrower owes money, goods and/or services or is otherwise obligated, but only to
the extent of the potential amount owed; 
 (f) Accounts arising out of deferred revenue, and Accounts any portion of which
arise out of deferred revenue, but only with respect to such portion arising out of deferred revenue; 
 (g) Accounts owing
by an affiliate of Borrower; 
 (h) Accounts that are the obligation of an account debtor that is the United States
government or a political subdivision thereof, or any state, county or municipality or department, agency or instrumentality thereof unless Agent, in its sole discretion, has agreed to the contrary in writing and Borrower, if necessary or desirable,
has complied with respect to such obligation with the Federal Assignment of Claims Act of 1940, or any applicable state, county or municipal law restricting assignment thereof; 

(i) Accounts that arise with respect to goods that are delivered on a bill-and-hold, cash-on-delivery basis or placed on consignment, guaranteed sale or other terms by reason of which the payment by
the account debtor is or may be conditional; 
 (j) Accounts (i) upon which Borrower’s right to receive payment is
not absolute or is contingent upon the fulfillment of any condition whatsoever or (ii) as to which Borrower is not able to bring suit or otherwise enforce its remedies against the account debtor through judicial process; and 

(k) Accounts the collection of which Agent determines in its good faith credit judgment to be doubtful. 

 “Eligible Purchase Orders” means purchase orders for Borrower Products substantially
in form and substance as provided in Exhibit J or otherwise acceptable to Agent, arising in the ordinary course of Borrower’s business, that have been submitted to Agent. Agent reserves the right at any time following the completion of an audit
or field examination of Borrower’s purchase orders for Borrower Products the results of which reflect a material change to the make-up of Borrower’s purchase orders for Borrower Products from the make-up of Borrower’s purchase orders
for Borrower Products on or prior to the Closing Date of most recent audit or field examination, to adjust any of the criteria set forth below and to establish new criteria in its good faith credit judgment upon providing Borrower five
(5) days’ prior written notice of such new criteria. Should qualifying purchase orders be canceled, they shall no longer be considered Eligible Purchase Orders or be considered eligible for inclusion in the Borrowing Base. Unless otherwise
agreed by Agent, Eligible Purchase Orders shall not include the following: 
 (a) purchase orders with a delivery date more
than four months from the date of the purchase order; provided, however, that such purchase order shall cease to be excluded from the definition of “Eligible Purchase Orders” from the time that Borrower receives a bona fide purchase order
which is to be placed with Taiwan Semiconductor Manufacturing Company Limited (TSMC), GlobalFoundries U.S. Inc. or GlobalFoundries Singapore PTE. LTD. if (i) the purchase order is from a Tier 1 Customer, (ii) Borrower has a contracted
Bookings backlog representing more than ninety percent (90%) of its forecasted revenue forecast for the next three calendar months, and (iii) the delivery date is less than six months from the date of the purchase order; and 

(b) purchase orders which are cancelable pursuant to their terms or at the election of any Person; provided, however, that the
following cancelable purchase orders shall not be excluded: (i) purchase orders from Tier 1 Customers where Borrower’s chips are Mission Critical to its customer’s announced product lines; and (ii) purchase orders for non-Tier 1
Customers representing up to twenty percent (20%) of Eligible Purchase Orders. 
 Notwithstanding the foregoing, purchase orders for Borrower Products
from a Person listed on Schedule 1D shall be considered Eligible Purchase Orders. 
 “Equity Milestone” means Borrower has
received, in a principal amount of at least Twenty-Five Million Dollars ($25,000,000), net proceeds from a bona fide equity financing from investors and on terms and conditions reasonably acceptable to Agent, after January
[    ], 2015, but no later than June 30, 2015, subject to verification by Agent (including supporting documentation reasonably requested by Agent). 

“ERISA” means the Employee Retirement Income Security Act of 1974, as amended, and the regulations promulgated thereunder. 

 “Excluded Property” means any property, right or asset held by the Borrower to the
extent that a grant of a security interest therein constitutes a breach or default under or results in the termination of or requires any consent not obtained under, any contract, license, agreement, instrument or other document evidencing or giving
rise to such property, except to the extent that the term in such contract, license, agreement, instrument or other document providing for such prohibition, breach, default or termination or requiring such consent is ineffective under
Section 9406, 9407, 9408 or 9409 of the UCC (or any successor provision or provisions) of any relevant jurisdiction or any other applicable law (including the United States Bankruptcy Code) or principles of equity; provided, however, that such
security interest shall attach immediately at such time as such prohibition, breach, default or termination is no longer applicable or is waived, and to the extent severable, shall attach immediately to any portion of the Collateral that does not
result in such consequences. 
 “Event of Default” has the meaning given to it in Section 9. 

“Facility Charge” means sixth-tenths of one percent (0.60%) of the Maximum Revolving Loan Amount. 

“Financial Statements” has the meaning given to it in Section 7.1. 

“Foreign Subsidiary” means any Subsidiary other than a Subsidiary organized under the laws of any state or other jurisdiction
within the United States of America. 
 “GAAP” means generally accepted accounting principles in the United States of America, as
in effect from time to time. 
 “Indebtedness” means indebtedness of any kind, including (a) all indebtedness for borrowed
money or the deferred purchase price of property or services (excluding trade credit entered into in the ordinary course of business due within sixty (60) days), including reimbursement and other obligations with respect to surety bonds and
letters of credit, (b) all obligations evidenced by notes, bonds, debentures or similar instruments, (c) all capital lease obligations, and (d) all Contingent Obligations. 

“Indemnified Person” has the meaning given to it in Section 6.3. 

“Initial Public Offering” means the initial firm commitment underwritten offering of Borrower’s Common Stock pursuant to a
registration statement under the Securities Act of 1933, as amended, filed with and declared effective by the Securities and Exchange Commission. 

“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 similar relief. 

“Intellectual Property” means all of Borrower’s Copyrights; Trademarks; Patents; Licenses; trade secrets and inventions; mask
works; Borrower’s applications therefor and reissues, extensions, or renewals thereof; and Borrower’s goodwill associated with any of the foregoing, together with Borrower’s rights to sue for past, present and future infringement of
Intellectual Property and the goodwill associated therewith. 

 “Investment” means any beneficial ownership (including stock, partnership or limited
liability company interests) of or in any Person, or any loan, advance or capital contribution to any Person or the acquisition of all, or substantially all, of the assets of another Person. 

“Joinder Agreements” means for each Domestic Subsidiary, a completed and executed Joinder Agreement in substantially the form
attached hereto as Exhibit G. 
 “Lender” has the meaning given to it in the preamble to this Agreement. 

“Liabilities” has the meaning given to it in Section 6.3. 

“License” means any Copyright License, Patent License, Trademark License or other license of rights or interests. 

“Lien” means any mortgage, deed of trust, pledge, hypothecation, assignment for security, security interest, encumbrance, levy,
lien or charge of any kind, whether voluntarily incurred or arising by operation of law or otherwise, against any property, any conditional sale or other title retention agreement, and any lease in the nature of a security interest. 

“Loan” means the Advances made under this Agreement. 

“Loan Documents” means this Agreement, the Notes (if any), the ACH Authorization, the Account Control Agreements, the Joinder
Agreements, all UCC Financing Statements, the Warrant, the Perfection Certificate, and the Share Pledge and any other documents executed in connection with the Secured Obligations or the transactions contemplated hereby, as the same may from time to
time be amended, modified, supplemented or restated. 
 “Material Adverse Effect” means a material adverse effect upon:
(i) the business, operations, properties, assets or condition (financial or otherwise) of Borrower and its Subsidiaries, taken as a whole; or (ii) the ability of Borrower to perform the Secured Obligations in accordance with the terms of
the Loan Documents, or the ability of Agent or Lender to enforce any of its rights or remedies with respect to the Secured Obligations; or (iii) the Collateral or Agent’s Liens on the Collateral or the priority of such Liens. 

“Maximum Revolving Loan Amount” means Eleven Million Five Hundred Thousand and No/100 Dollars ($11,500,000). 

“Maximum Rate” shall have the meaning assigned to such term in Section 2.3. 

“Mission Critical” means the Borrower’s products are essential and irreplaceable with any other vendors’ products and
have been designed into its customers announced products 
 “Note(s)” means a Revolving Note. 

 “P/O Advance” means a Revolving Loan Advance for which Borrower has requested the
Borrowing Base calculation be based on Eligible Purchase Orders. 
 “Patent License” means any written agreement granting any
right with respect to any invention on which a Patent is in existence or a Patent application is pending, in which agreement Borrower now holds or hereafter acquires any interest. 

“Patents” means all letters patent of, or rights corresponding thereto, in the United States of America or in any other country,
all registrations and recordings thereof, and all applications for letters patent of, or rights corresponding thereto, in the United States of America or any other country. 

“Perfection Certificate” means a Perfection Certificate executed by the Borrower and delivered to Agent, dated as of the Closing
Date. 
 “Performance Milestone” means (a) no Event of Default shall have occurred and be continuing; and (b) during
the twelve month period ending June 30, 2016, Borrower shall have achieved (i) 80% of its forecasted revenue, and (ii) 80% of its forecasted operating income, in each case based on a plan approved by Borrower’s board of directors
and delivered to Agent by January 31, 2015, which plan shall be acceptable to Agent and consistent with prior plans presented to Agent, and in all cases subject to verification by Agent (including supporting documentation reasonably requested
by Agent). 
 “Permitted Indebtedness” means: (i) Indebtedness of Borrower in favor of Lender or Agent arising under this
Agreement or any other Loan Document; (ii) Indebtedness existing on the Closing Date which is disclosed in Schedule 1A; (iii) Indebtedness of up to $500,000 outstanding at any time secured by a Lien described in clauses (vii) and
(xi) of the defined term “Permitted Liens,” provided such Indebtedness does not exceed the lesser of the cost or fair market value of the Equipment financed with such Indebtedness; (iv) Indebtedness to trade creditors incurred in
the ordinary course of business, including Indebtedness incurred in the ordinary course of business with corporate credit cards; (v) Indebtedness that also constitutes a Permitted Investment; (vi) Subordinated Indebtedness, provided that
the Subordinated Indebtedness owed to Pinnacle Ventures L.L.C. or any affiliate shall not exceed an aggregate principal amount of $23,800,000, shall be subject to the terms of that certain Amended and Restated Loan and Security Agreement dated as of
December 16, 2014 as amended by that certain Amendment No. 1 to Amended and Restated Loan and Security Agreement dated as of the Closing Date, without any other amendment, restatement or modification, unless consented to by Agent;
(vii) reimbursement obligations in connection with guaranties of Borrower’s Subsidiaries’ real property lease obligations or letters of credit that are secured by cash or cash equivalents and issued on behalf of the Borrower or a
Subsidiary thereof in an amount not to exceed $250,000 at any time outstanding, (viii) Indebtedness incurred as a result of endorsing negotiable instruments received in the ordinary course of business, (ix) other Indebtedness in an amount
not to exceed $100,000 at any time outstanding, and (x) extensions, refinancings and renewals of any items of Permitted Indebtedness, provided that the principal amount is not increased or the terms modified to impose materially more burdensome
terms upon Borrower or its Subsidiary, as the case may be. 

 “Permitted Investment” means: (i) Investments existing on the Closing Date which
are disclosed in Schedule 1B; (ii) (a) marketable direct obligations issued or unconditionally guaranteed by the United States of America or any agency or any State thereof maturing within one year from the date of acquisition thereof,
(b) commercial paper maturing no more than one year from the date of creation thereof and currently having a rating of at least A-2 or P-2 from either Standard & Poor’s Corporation or Moody’s Investors Service,
(c) certificates of deposit issued by any bank with assets of at least $500,000,000 maturing no more than one year from the date of investment therein, and (d) money market accounts; (iii) repurchases of stock from former employees,
directors, or consultants of Borrower under the terms of applicable repurchase agreements at the original issuance price of such securities in an aggregate amount not to exceed $250,000 in any fiscal year, provided that no Event of Default has
occurred, is continuing or would exist after giving effect to the repurchases; (iv) Investments accepted in connection with Permitted Transfers; (v) 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 Borrower’s business; (vi) 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 subparagraph (vi) shall not apply to Investments of Borrower in any Subsidiary;
(vii) Investments consisting of loans not involving the net transfer on a substantially contemporaneous basis of cash proceeds to employees, officers or directors relating to the purchase of capital stock of Borrower pursuant to employee stock
purchase plans or other similar agreements approved by Borrower’s board of directors; (viii) Investments consisting of travel advances and relocation loans in the ordinary course of business; (ix) Investments in Domestic Subsidiaries,
provided that each newly-formed Domestic Subsidiary enters into a Joinder Agreement promptly after its formation by Borrower and execute such other documents as shall be reasonably requested by Agent; (x) Investments in Foreign Subsidiaries in
an aggregate amount equal to the lesser of (a) the amount necessary for the payment of three (3) months of operational expenses of any such Subsidiary in accordance with Borrower’s most recent operating plan as approved by
Borrower’s board of directors and (b) $2,000,000 in the aggregate in any fiscal year, or as otherwise approved in advance in writing by Agent; (xi) joint ventures or strategic alliances in the ordinary course of Borrower’s
business consisting of the nonexclusive licensing of technology, the development of technology or the providing of technical support, provided that any cash Investments by Borrower do not exceed $250,000 in the aggregate in any fiscal year;
(xii) Investments consisting of Deposit Accounts or securities accounts subject to compliance with Section 7.12; and (xiii) additional Investments that do not exceed $250,000 in the aggregate. 

“Permitted Liens” means any and all of the following: (i) Liens in favor of Agent or Lender; (ii) Liens existing on the
Closing Date which are disclosed in Schedule 1C; (iii) Liens for taxes, fees, assessments or other governmental charges or levies, either not delinquent or being contested in good faith by appropriate proceedings; provided, that Borrower
maintains adequate reserves therefor in accordance with GAAP; (iv) Liens securing claims or demands of materialmen, artisans, mechanics, carriers, warehousemen, landlords and other like Persons arising in the ordinary course of Borrower’s
business and imposed without action of such parties; provided, that the payment thereof is not yet required; (v) Liens arising from judgments, decrees or attachments in circumstances which do not constitute an Event of Default hereunder;
(vi) the following deposits, to the extent made in the ordinary course of business: deposits under worker’s 

 
compensation, unemployment insurance, social security and other similar laws, or to secure the performance of bids, tenders or contracts (other than for the repayment of borrowed money) or to
secure indemnity, performance or other similar bonds for the performance of bids, tenders or contracts (other than for the repayment of borrowed money) or to secure statutory obligations (other than Liens arising under ERISA or environmental Liens)
or surety or appeal bonds, or to secure indemnity, performance or other similar bonds; (vii) Liens on Equipment or software or other intellectual property constituting purchase money Liens and Liens in connection with capital leases securing
Indebtedness permitted in clause (iii) of “Permitted Indebtedness”; (viii) Liens incurred in connection with Subordinated Indebtedness; (ix) leasehold interests in leases or subleases and licenses granted in the ordinary
course of business and not interfering in any material respect with the business of the licensor; (x) Liens in favor of customs and revenue authorities arising as a matter of law to secure payment of custom duties that are promptly paid on or
before the date they become due; (xi) Liens securing the payment of financed insurance premiums that are promptly paid on or before the date they become due, provided that such Liens extend only to the insurance policies so financed and all
money due Borrower thereunder (including the return of premiums and dividends) and not to any other property or assets; (xii) statutory and common law rights of set-off and other similar rights as to deposits of cash and securities in favor of
banks, other depository institutions and brokerage firms; (xiii) easements, zoning restrictions, rights-of-way and similar encumbrances on real property imposed by law or arising in the ordinary course of business so long as they do not
materially impair the value or marketability of the related property; (xiv) Liens on cash or cash equivalents securing obligations permitted under clause (vii) of the definition of Permitted Indebtedness; and (xv) Liens incurred in
connection with the extension, renewal or refinancing of the Indebtedness secured by Liens of the type described in clauses (i) through (xiv) above; provided, that any extension, renewal or replacement Lien shall be limited to the property
encumbered by the existing Lien and the principal amount of the Indebtedness being extended, renewed or refinanced (as may have been reduced by any payment thereon) does not increase. 

“Permitted Transfers” means (i) sales of Inventory in the ordinary course of business, (ii) non-exclusive licenses and
similar arrangements for the use of Intellectual Property in the ordinary course of business and licenses that could not result in a legal transfer of title of the licensed property or a Lien on any Collateral or Intellectual Property but that may
be exclusive in respects other than territory and that may be exclusive as to territory only as to discrete geographical areas outside of the United States of America in the ordinary course of business, or (iii) dispositions of worn-out,
obsolete or surplus Equipment at fair market value in the ordinary course of business, (iv) Permitted Liens and Permitted Investments, and (v) other transfers of assets having a fair market value of not more than $250,000 in the aggregate
in any fiscal year. 
 “Person” means any individual, sole proprietorship, partnership, joint venture, trust, unincorporated
organization, association, corporation, limited liability company, institution, other entity or government. 
 “Pinnacle Intercreditor
Agreement” has the meaning given to it in Section 4.1(m). 
 “Preferred Stock” means at any given time any equity
security issued by Borrower that has any rights, preferences or privileges senior to Borrower’s Common Stock. 

 “Prime Rate” means the prime rate as reported in The Wall Street Journal. 

“Publicity Materials” has the meaning given to it in Section 11.18. 

“Receivables” means (i) all of Borrower’s Accounts, Instruments, Documents, Chattel Paper, Supporting Obligations,
letters of credit, proceeds of any letter of credit, and Letter-of-Credit Rights, and (ii) all customer lists, software, and business records related thereto. 

“Required Lenders” means at any time, the holders of more than 50% of the total Revolving Commitments then in effect or, if the
Revolving Commitments have been terminated, the total Revolving Loan Advances then outstanding. 
 “Revolving Commitment” means
as to any Lender, the obligation of such Lender, if any, to make Revolving Loans in an aggregate principal amount not to exceed the amount set forth under the heading “Revolving Commitment” opposite such Lender’s name on Schedule 1.1.

 “Revolving Interest Rate” means, for any day, (x) with respect to A/R Advances, the greater of (I) the Prime Rate
plus 2.95%, and (II) 6.20%; and (y) with respect to P/O Advances, the greater of (I) the Prime Rate plus 3.95%, and (II) 7.20%. 

“Revolving Loan” has the meaning given to it in the preamble to this Agreement. 

“Revolving Loan Advance” means any Revolving Loan funds advanced under this Agreement. 

“Revolving Loan Draw Period” means any time up to and including February 1, 2017; provided, however, that if both of
Performance Milestone and Equity Milestone are achieved, then February 1, 2018. 
 “Revolving Loan Maturity Date” means
February 1, 2017; provided, however, that if both Performance Milestone and Equity Milestone are achieved, then February 1, 2018. 

“Revolving Note” means a Promissory Note in substantially the form of Exhibit B. 

“Rights to Payment” has the meaning given to it in Section 3.1. 

“Secured Obligations” means Borrower’s obligations under this Agreement and any Loan Document (but excluding the Warrant),
including any obligation to pay any amount now owing or later arising. 
 “Share Pledge” means that certain Pledge Agreement
executed and delivered by Borrower to Lender and dated as of the Closing Date. 
 “Solvent” means, with respect to any Person:
the fair salable value of such Person’s consolidated assets (including goodwill minus disposition costs) exceeds the fair value of such Person’s liabilities; such Person is not left with unreasonably small capital after the transactions in
this Agreement; and such Person is able to pay its debts (including trade debts) as they mature in accordance with their terms. 

 “Subordinated Indebtedness” means Indebtedness subordinated to the Secured Obligations
in amounts and on terms and conditions satisfactory to Agent in its sole discretion. 
 “Subsequent Financing” means the closing
of any Borrower financing which becomes effective after the Closing Date and results in aggregate proceeds to Borrower of at least $10,000,000. 

“Subsidiary” means an entity, whether corporate, partnership, limited liability company, joint venture or otherwise, in which
Borrower owns or controls 50% or more of the outstanding voting securities, including each entity listed on Schedule 1 hereto. 

“Tier 1 Customer” means Intel Corporation, Cisco Systems, Inc., Dell Inc., Aruba Networks, Inc., Brocade Communications Systems,
Inc. and Hewlett-Packard Company. 
 “Trademark License” means any written agreement granting any right to use any Trademark or
Trademark registration, now owned or hereafter acquired by Borrower or in which Borrower now holds or hereafter acquires any interest. 

“Trademarks” means all trademarks (registered, common law or otherwise) and any applications in connection therewith, including
registrations, recordings and applications in the United States Patent and Trademark Office or in any similar office or agency of the United States of America, any State thereof or any other country or any political subdivision thereof. 

“UCC” means the Uniform Commercial Code as the same is, from time to time, in effect in the State of California; provided, 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, Agent’s Lien on any Collateral is governed by the Uniform Commercial Code as the same is, from time
to time, in effect in a jurisdiction other than the State of California, then the term “UCC” shall mean the Uniform Commercial Code as in effect, from time to time, in such other jurisdiction solely for purposes of the provisions thereof
relating to such attachment, perfection, priority or remedies and for purposes of definitions related to such provisions. 

“Warrant” means any warrant entered into in connection with the Loan, as may be amended, restated or modified from time to time.

 Unless otherwise specified, all references in this Agreement or any Annex or Schedule hereto to a “Section,”
“subsection,” “Exhibit,” “Annex,” or “Schedule” shall refer to the corresponding Section, subsection, Exhibit, Annex, or Schedule in or to this Agreement. Unless otherwise specifically provided herein, any
accounting term used in this Agreement or the other Loan Documents shall have the meaning customarily given such term in accordance with GAAP, and all financial computations hereunder shall be computed in accordance with GAAP, consistently applied.
Unless otherwise defined herein or in the other Loan Documents, terms that are used herein or in the other Loan Documents and defined in the UCC shall have the meanings given to them in the UCC. 

 SECTION 2. THE LOAN 

2.1 Revolving Loan. 

(a) Advances. Subject to the terms and conditions of this Agreement, Borrower may draw Revolving Loan Advances during the
Revolving Loan Draw Period in an aggregate principal amount of up to the lesser of the Borrowing Base or the Maximum Revolving Loan Amount, provided Borrower shall (i) request a Revolving Loan Advance of not less than $5,000,000 be made on the
Closing Date, and (ii) after the Closing Date, request only two (2) such Revolving Loan Advances per month, and each Revolving Loan Advance shall be in a minimum amount of $1,000,000 or if the amount available to be borrowed under the
Maximum Revolving Loan Amount is less than $1,000,000, then such lesser amount. Revolving Loan Advances may be repaid and reborrowed at any time, without premium or penalty. If the aggregate Revolving Loan Advances at any time exceed the lesser of
the Borrowing Base or the Maximum Revolving Loan Amount, Borrower shall repay the amount of that excess to Lender within three (3) Business Days. For the avoidance of doubt, both A/R Advances and P/O Advances may be borrowed, including on the
same request, up to the Maximum Revolving Loan Amount. 
 (b) Advance Request. To obtain an Advance, Borrower shall complete,
sign and deliver an Advance Request (at least three (3) Business Days before the Advance Date other than the Advance obtained on the Closing Date), specifying whether the Advance will be in the form of an A/R Advance and/or a P/O Advance, and
Borrowing Base to Agent. Lender shall severally (and not jointly) fund the Revolving Loan Advance in an amount not to exceed its respective Revolving Commitment in the manner requested by the Advance Request provided that each of the conditions
precedent to such Revolving Loan Advance is satisfied as of the requested Advance Date. 
 (c) Interest. The principal
balance of the Revolving Loan shall bear interest thereon from the initial Revolving Loan Advance Date, calculated at the floating Revolving Interest Rate per annum based upon a year consisting of 360 days and payable for the actual number of days
elapsed. 
 (d) Payment. Borrower will pay interest on each Revolving Loan Advance on the first Business Day of each month,
beginning the month after the Advance Date. The entire principal balance of the Revolving Loan and all accrued interest and fees on or relating to the Revolving Loan shall be repaid in full on the Revolving Loan Maturity Date. Borrower shall make
all payments under this Agreement without setoff, recoupment or deduction and regardless of any counterclaim or defense. Lender will initiate debit entries to the Borrower’s account as authorized on the ACH Authorization on each payment date of
all periodic obligations payable to Lender under each Revolving Loan Advance. 
 2.2 [RESERVED] 

 2.3 Maximum Interest. Notwithstanding any provision in this Agreement or any
other Loan Document, it is the parties’ intent not to contract for, charge or receive interest at a rate that is greater than the maximum rate permissible by law that a court of competent jurisdiction shall deem applicable hereto (which under
the laws of the State of California shall be deemed to be the laws relating to permissible rates of interest on commercial loans) (the “Maximum Rate”). If a court of competent jurisdiction shall finally determine that Borrower has actually
paid to Lender an amount of interest in excess of the amount that would have been payable if all of the Secured Obligations had at all times borne interest at the Maximum Rate, then such excess interest actually paid by Borrower shall be applied as
follows: first, to the payment of the Secured Obligations consisting of the outstanding principal; second, after all principal is repaid, to the payment of Lender’s accrued interest, costs, expenses, professional fees and any other Secured
Obligations; and third, after all Secured Obligations are repaid, the excess (if any) shall be refunded to Borrower. 
 2.4
Default Interest. In the event any payment is not paid on the scheduled payment date, an amount equal to five percent (5%) of the past due amount shall be payable on demand. In addition, upon the occurrence and during the continuation of an
Event of Default hereunder, all Secured Obligations, including principal, interest, compounded interest, and professional fees, shall bear interest at a rate per annum equal to the rate set forth in Section 2.1(c) plus five percent
(5%) per annum. In the event any interest is not paid when due hereunder, delinquent interest shall be added to principal and shall bear interest on interest, compounded at the rate set forth in Section 2.1(c) or Section 2.4, as
applicable. 
 2.5 Prepayment. At its option upon at least seven (7) Business Days prior notice to Agent, Borrower may
prepay all, but not less than all, of the outstanding Advances by paying the entire principal balance and all accrued and unpaid interest thereon. Borrower shall prepay the outstanding amount of all principal and accrued interest through the
prepayment date upon a Change in Control. 
 2.6 End of Term Charge. On the earliest to occur of (i) the Revolving Loan
Maturity Date, (ii) the date that Borrower prepays the outstanding Secured Obligations, or (iii) the date that the Secured Obligations become due and payable, Borrower shall pay Lender a charge of $304,750. Notwithstanding the required
payment date of such charge, it shall be deemed earned by Lender as of the Closing Date. 
 2.7 Revolving Loan Renewal Fee.
On each of (i) March 1, 2016, and (ii) March 1, 2017 (provided that the Revolving Loan Maturity Date has been extended to February 1, 2018), Borrower shall pay to Lender a renewal fee with respect to the Revolving Loan of
$46,000. 
 2.8 Notes. If so requested by Lender by written notice to Borrower, then Borrower shall execute and deliver to
Lender (and/or, if applicable and if so specified in such notice, to any Person who is an Assignee of Lender pursuant to Section 11.13) (promptly after the Borrower’s receipt of such notice) a Note or Notes to evidence Lender’s Loans.

 2.9 Pro Rata Treatment. Each payment (including prepayment) on account of any fee and any reduction of the Revolving Loan
Advances shall be made pro rata according to the Revolving Commitments of the relevant Lender. 

 SECTION 3. SECURITY INTEREST 

3.1 As security for the prompt, complete and indefeasible payment when due (whether on the payment dates or otherwise) of all
the Secured Obligations, Borrower grants to Agent a security interest in all of Borrower’s right, title, and interest in and to the following personal property whether now owned or hereafter acquired (collectively, the “Collateral”):
(a) Receivables; (b) Equipment; (c) Fixtures; (d) General Intangibles (other than Intellectual Property); (e) Inventory; (f) Investment Property (but excluding thirty-five percent (35%) of the capital stock of any
Foreign Subsidiary that constitutes a Permitted Investment); (g) Deposit Accounts; (h) Cash; (i) Goods; and all other tangible and intangible (other than Intellectual Property) personal property of Borrower whether now or hereafter
owned or existing, leased, consigned by or to, or acquired by, Borrower and wherever located, and any of Borrower’s property in the possession or under the control of Agent; and, to the extent not otherwise included, all Proceeds of each of the
foregoing and all accessions to, substitutions and replacements for, and rents, profits and products of each of the foregoing; provided, however, that the Collateral shall include all Accounts and General Intangibles that consist of rights to
payment and proceeds from the sale, licensing or disposition of all or any part, or rights in, the Intellectual Property (the “Rights to Payment”). Notwithstanding the foregoing, if a judicial authority (including a United States
Bankruptcy Court) holds that a security interest in the underlying Intellectual Property is necessary to have a security interest in the Rights to Payment, then the Collateral shall automatically, and effective as of the date of this Agreement,
include the Intellectual Property to the extent necessary to permit perfection of Agent’s security interest in the Rights to Payment. Upon payment in full of the Secured Obligations (other than inchoate indemnity obligations), and the
expiration or termination of the Revolving Commitment, Agent shall release its Lien on and security interest in the Collateral and such Lien shall terminate and be released and all rights therein shall revert to Borrower. 

3.2 Notwithstanding the broad grant of the security interest set forth in Section 3.1, above, the Collateral shall not
include (i) any Excluded Property, (ii) accounts at Silicon Valley Bank account numbers 8800060588 and 3300975070 to secure corporate credit cards so long as the balance does not exceed $50,000 at any time, or (iii) more than 65% of
the presently existing and hereafter arising issued and outstanding shares of capital stock owned by Borrower of any Foreign Subsidiary which shares entitle the holder thereof to vote for directors or any other matter. 

SECTION 4. CONDITIONS PRECEDENT TO LOAN 

The obligations of Lender to make the Loan hereunder are subject to the satisfaction by Borrower of the following conditions: 

4.1 Initial Advance. On or prior to the Closing Date, Borrower shall have delivered to Agent the following: 

(a) Subject to Section 7.20, executed originals of the Loan Documents, Account Control Agreements, a legal opinion of
Borrower’s counsel, and all other documents and instruments reasonably required by Agent to effectuate the transactions contemplated hereby or to create and perfect the Liens of Agent with respect to all Collateral, in all cases in form and
substance reasonably acceptable to Agent; 

 (b) certified copy of resolutions of Borrower’s board of directors
evidencing approval of (i) the Loan and other transactions evidenced by the Loan Documents; and (ii) the Warrant and transactions evidenced thereby; 

(c) certified copies of the Certificate of Incorporation and the bylaws, as amended through the Closing Date, of Borrower; 

(d) a certificate of good standing for Borrower from its state of incorporation and similar certificates from all other
jurisdictions in which it does business and where the failure to be qualified would reasonably be expected to have a Material Adverse Effect; 

(e) payment of the Facility Charge and Commitment Fee and reimbursement of Agent’s and Lender’s current expenses
reimbursable pursuant to this Agreement, which amounts may be deducted from the initial Advance; 
 (l) a duly executed
payoff letter from Silicon Valley Bank, in form and substance reasonably acceptable to Agent; and 
 (m) a duly executed
intercreditor agreement by and between Agent and Pinnacle Ventures, L.L.C., acknowledged by Borrower, in form and substance reasonably acceptable to Agent (the “Pinnacle Intercreditor Agreement”); and 

(f) such other documents as Agent may reasonably request. 

4.2 All Advances. On each Advance Date: 

(a) Agent shall have received (i) an Advance Request for the relevant Advance as required by Section 2.1(b), each
duly executed by Borrower’s Chief Executive Officer or Chief Financial Officer, and (ii) any other documents Agent may reasonably request. 

(b) (i) The representations and warranties set forth in Section 5 of this Agreement and in the Warrant shall be true and
correct in all material respects on and as of the Advance Date with the same effect as though made on and as of such date, except to the extent such representations and warranties expressly relate to an earlier date, and (ii) all the
information in the Perfection Certificate shall be true and correct in all material respects. 
 (c) Borrower shall be in
compliance with all the terms and provisions set forth herein and in each other Loan Document on its part to be observed or performed, and at the time of and immediately after such Advance no Event of Default shall have occurred and be continuing.

 (d) Each Advance Request shall be deemed to constitute a representation and warranty by Borrower on the relevant Advance
Date as to the matters specified in paragraphs (b) and (c) of this Section 4.2 and as to the matters set forth in the Advance Request. 

4.3 No Default. As of the Closing Date and each Advance Date, (i) no fact or condition exists that would (or would, with
the passage of time, the giving of notice, or both) constitute an Event of Default and (ii) no event that has had or could reasonably be expected to have a Material Adverse Effect has occurred and is continuing. 

 SECTION 5. REPRESENTATIONS AND WARRANTIES OF BORROWER 

Borrower represents and warrants that: 

5.1 Corporate Status. Borrower is a corporation duly organized, legally existing and in good standing under the laws of the
State of Delaware, and is duly qualified as a foreign corporation in all jurisdictions in which the nature of its business or location of its properties require such qualifications and where the failure to be qualified could reasonably be expected
to have a Material Adverse Effect. Borrower’s present name, former names (if any), locations, place of formation, tax identification number, organizational identification number and other information are correctly set forth in Exhibit C, as may
be updated by Borrower in a written notice (including any Compliance Certificate) provided to Agent after the Closing Date. 

5.2 Collateral. Borrower owns the Collateral and the Intellectual Property, free of all Liens, except for Permitted Liens.
Borrower has the power and authority to grant to Agent a Lien in the Collateral as security for the Secured Obligations. 

5.3 Consents. Borrower’s execution, delivery and performance of this Agreement and all other Loan Documents, and
Borrower’s execution of the Warrant, (i) have been duly authorized by all necessary corporate action of Borrower, (ii) will not result in the creation or imposition of any Lien upon the Collateral, other than Permitted Liens and the
Liens created by this Agreement and the other Loan Documents, (iii) do not violate any provisions of Borrower’s Certificate or Articles of Incorporation (as applicable), bylaws, or any, law, regulation, order, injunction, judgment, decree
or writ to which Borrower is subject and (iv) except as described on Schedule 5.3, do not violate any contract or agreement or require the consent or approval of any other Person which has not already been obtained. The individual or
individuals executing the Loan Documents and the Warrant are duly authorized to do so. 
 5.4 Material Adverse Effect. No
event that has had or could reasonably be expected to have a Material Adverse Effect has occurred and is continuing. Borrower is not aware of any event likely to occur that is reasonably expected to result in a Material Adverse Effect. 

 5.5 Actions Before Governmental Authorities. Except as described on Schedule 5.5,
there are no actions, suits or proceedings at law or in equity or by or before any governmental authority now pending or, to the knowledge of Borrower, threatened against or affecting Borrower or its property. 

5.6 Laws. Borrower is not in violation of any law, rule or regulation, or in default with respect to any judgment, writ,
injunction or decree of any governmental authority, where such violation or default is reasonably expected to result in a Material Adverse Effect. Borrower is not in default in any manner under any provision of any agreement or instrument evidencing
Indebtedness, or any other material agreement to which it is a party or by which it is bound. 
 5.7 Information Correct and
Current. No information, report, Advance Request, financial statement, exhibit or schedule furnished, by or on behalf of Borrower to Agent in connection with any Loan Document or included therein or delivered pursuant thereto contained, contains or
will contain any material misstatement of fact or omitted, omits or will omit to state any material fact necessary to make the statements therein, in the light of the circumstances under which they were, are or will be made, not misleading at the
time such statement was made or deemed made. Additionally, any and all financial or business projections provided by Borrower to Agent, whether prior to or after the Closing Date, shall be (i) provided in good faith and based on the most
current data and information available to Borrower, and (ii) the most current of such projections provided to Borrower’s board of directors. 

5.8 Tax Matters. Except as described on Schedule 5.8, (a) Borrower has filed all federal, state and local tax returns that
it is required to file, (b) Borrower has duly paid or fully reserved for all taxes or installments thereof (including any interest or penalties) as and when due, which have or may become due pursuant to such returns, and (c) Borrower has
paid or fully reserved for any tax assessment received by Borrower for the three (3) years preceding the Closing Date, if any (including any taxes being contested in good faith and by appropriate proceedings). 

5.9 Intellectual Property Claims. Borrower is the sole owner of, or otherwise has the right to use, the Intellectual Property.
Except as described on Schedule 5.9, (i) each of the material Copyrights, Trademarks and Patents is valid and enforceable, (ii) no material part of the Intellectual Property has been judged invalid or unenforceable, in whole or in part,
and (iii) no claim has been made to Borrower that any material part of the Intellectual Property violates the rights of any third party. Exhibit D is a true, correct and complete list of each of Borrower’s Patents, registered
Trademarks, registered Copyrights, and material agreements under which Borrower licenses Intellectual Property from third parties (other than shrink-wrap software licenses), together with application or registration numbers, as applicable, owned by
Borrower or any Subsidiary, in each case as of the Closing Date. Borrower is not in material breach of, nor has Borrower failed to perform any material obligations under, any of the foregoing contracts, licenses or agreements and, to Borrower’s
knowledge, no third party to any such contract, license or agreement is in material breach thereof or has failed to perform any material obligations thereunder. 

 5.10 Intellectual Property. Except as described on Schedule 5.10, Borrower has,
or in the case of any proposed business, will have, all material rights with respect to Intellectual Property necessary in the operation or conduct of Borrower’s business as currently conducted and proposed to be conducted by Borrower. Without
limiting the generality of the foregoing, and in the case of Licenses, except for restrictions that are unenforceable under Division 9 of the UCC, Borrower has the right, to the extent required to operate Borrower’s business, to freely
transfer, license or assign Intellectual Property without condition, restriction or payment of any kind (other than license payments in the ordinary course of business) to any third party, and Borrower owns or has the right to use, pursuant to valid
licenses, all software development tools, library functions, compilers and all other third-party software and other items that are used in the design, development, promotion, sale, license, manufacture, import, export, use or distribution of
Borrower Products. 
 5.11 Borrower Products. Except as described on Schedule 5.11, no Intellectual Property owned by
Borrower or Borrower Product has been or is subject to any actual or, to the knowledge of Borrower, threatened litigation, proceeding (including any proceeding in the United States Patent and Trademark Office or any corresponding foreign office or
agency) or outstanding decree, order, judgment, settlement agreement or stipulation that restricts in any manner Borrower’s use, transfer or licensing thereof or that may affect the validity, use or enforceability thereof. There is no decree,
order, judgment, agreement, stipulation, arbitral award or other provision entered into in connection with any litigation or proceeding that obligates Borrower to grant licenses or ownership interest in any future Intellectual Property related to
the operation or conduct of the business of Borrower or Borrower Products. Borrower has not received any written notice or claim, or, to the knowledge of Borrower, oral notice or claim, challenging or questioning Borrower’s ownership in any
Intellectual Property (or written notice of any claim challenging or questioning the ownership in any licensed Intellectual Property of the owner thereof) or suggesting that any third party has any claim of legal or beneficial ownership with respect
thereto nor, to Borrower’s knowledge, is there a reasonable basis for any such claim. Neither Borrower’s use of its Intellectual Property nor the production and sale of Borrower Products infringes the Intellectual Property or other rights
of others. 
 5.12 Financial Accounts. Exhibit E, as may be updated by the Borrower in a written notice provided to Agent
after the Closing Date, is a true, correct and complete list of (a) all banks and other financial institutions at which Borrower or any Subsidiary maintains Deposit Accounts and (b) all institutions at which Borrower or any Subsidiary
maintains an account holding Investment Property, and such exhibit correctly identifies the name, address and telephone number of each bank or other institution, the name in which the account is held, a description of the purpose of the account, and
the complete account number therefor. 
 5.13 Employee Loans. Except for Permitted Investments of the type described in
clause (viii) of the definition thereof or on Schedule 5.13, Borrower has no outstanding loans to any employee, officer or director of the Borrower nor has Borrower guaranteed the payment of any loan made to an employee, officer or director of
the Borrower by a third party. 

 5.14 Capitalization and Subsidiaries. Borrower’s capitalization as of the
Closing Date is set forth on Schedule 5.14 annexed hereto. Borrower does not own any stock, partnership interest or other securities of any Person, except for Permitted Investments. Attached as Schedule 5.14, as may be updated by Borrower in a
written notice provided after the Closing Date, is a true, correct and complete list of each Subsidiary. 
 5.15 Eligible
Accounts and Eligible Purchase Orders. For any Eligible Account or Eligible Purchase Order in any Borrowing Base Certificate, all statements made and all unpaid balances appearing in all invoices, instruments and other documents evidencing such
Eligible Accounts or Eligible Purchase Orders are and shall be true and correct (except for any good faith immaterial errors promptly corrected when discovered) 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. All sales and other transactions underlying or giving rise to each Eligible Account or Eligible Purchase Order 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 an Eligible Account 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 or Eligible Purchase Orders are genuine, and all such documents, instruments and agreements are legally enforceable in accordance with their terms. 

SECTION 6. INSURANCE; INDEMNIFICATION 

6.1 Coverage. Borrower shall cause to be carried and maintained commercial general liability insurance, on an occurrence form,
against risks customarily insured against in Borrower’s line of business. Such risks shall include the risks of bodily injury, including death, property damage, personal injury, advertising injury, and contractual liability per the terms of the
indemnification agreement found in Section 6.3. Borrower must maintain a minimum of $1,000,000 for each occurrence, and $2,000,000 in the aggregate, of commercial general liability insurance and $10,000,000 in excess liability insurance.
Borrower has and agrees to maintain a minimum of $3,000,000 in the aggregate of directors’ and officers’ insurance. So long as there are any Secured Obligations outstanding (other than inchoate indemnity obligations), Borrower shall also
cause to be carried and maintained insurance upon the Collateral, insuring against all risks of physical loss or damage howsoever caused, in an amount not less than the full replacement cost of the Collateral, provided that such insurance may be
subject to standard exceptions and deductibles. 
 6.2 Certificates. Subject to Section 7.20(a) Borrower shall deliver
to Agent certificates of insurance that evidence Borrower’s compliance with its insurance obligations in Section 6.1 and the obligations contained in this Section 6.2. Borrower’s insurance certificate shall state Agent is an
additional insured for commercial general liability, a loss payee for all risk property damage insurance, subject to the insurer’s approval, and a loss payee for property insurance and additional insured for liability insurance for any future
liability or property insurance that Borrower may acquire from such insurer. Attached to the certificates of insurance will be additional insured 

 
endorsements for liability and lender’s loss payable endorsements for all risk property damage insurance. All certificates of insurance will provide for a minimum of thirty (30) days
(ten (10) days for non-payment of premium) advance written notice to Agent of cancellation or any other change adverse to Agent’s interests. Any failure of Agent to scrutinize such insurance certificates for compliance is not a waiver of
any of Agent’s rights, all of which are reserved. 
 6.3 Indemnity. Borrower agrees to indemnify and hold Agent, Lender
and their officers, directors, employees, agents, in-house attorneys, representatives and shareholders (each, an “Indemnified Person”) harmless from and against any and all claims, costs, expenses, damages and liabilities (including such
claims, costs, expenses, damages and liabilities based on liability in tort, including strict liability in tort), including reasonable attorneys’ fees and disbursements and other costs of investigation or defense (including those incurred upon
any appeal) (collectively, “Liabilities”), that may be instituted or asserted against or incurred by such Indemnified Person as the result of credit having been extended, suspended or terminated under this Agreement and the other Loan
Documents or the administration of such credit, or in connection with or arising out of the transactions contemplated hereunder and thereunder, or any actions or failures to act in connection therewith, or arising out of the disposition or
utilization of the Collateral, excluding in all cases Liabilities to the extent resulting solely from any Indemnified Person’s gross negligence or willful misconduct. Borrower agrees to pay, and to save Agent and Lender harmless from, any and
all liabilities with respect to, or resulting from any delay in paying, any and all excise, sales or other similar taxes (excluding taxes imposed on or measured by the net income of Agent or Lender) that may be payable or determined to be payable
with respect to any of the Collateral or this Agreement. In no event shall any Indemnified Person be liable on any theory of liability for any special, indirect, consequential or punitive damages (including any loss of profits, business or
anticipated savings). 
 SECTION 7. COVENANTS OF BORROWER 

Borrower agrees as follows: 

7.1 Financial Reports. Borrower shall furnish to Agent the financial statements and reports listed hereinafter (the
“Financial Statements”): 
 (a) as soon as practicable (and in any event within 30 days) after the end of each
month, unaudited interim and year-to-date financial statements as of the end of such month (prepared on a consolidated and consolidating basis, if applicable), including balance sheet and related statements of income and cash flows accompanied by a
report detailing any material contingencies (including the commencement of any material litigation by or against Borrower) or any other occurrence that would reasonably be expected to have a Material Adverse Effect, all certified by Borrower’s
Chief Executive Officer or Chief Financial Officer to the effect that they have been prepared in accordance with GAAP, except (i) for the absence of footnotes, (ii) that they are subject to normal year end adjustments, and (iii) they
do not contain certain non-cash items that are customarily included in quarterly and annual financial statements; 

 (b) as soon as practicable (and in any event within 45 days) after the end of
each calendar quarter, unaudited interim and year-to-date financial statements as of the end of such calendar quarter (prepared on a consolidated and consolidating basis, if applicable), including balance sheet and related statements of income and
cash flows accompanied by a report detailing any material contingencies (including the commencement of any material litigation by or against Borrower) or any other occurrence that would reasonably be expected to have a Material Adverse Effect,
certified by Borrower’s Chief Executive Officer or Chief Financial Officer to the effect that they have been prepared in accordance with GAAP, except (i) for the absence of footnotes, and (ii) that they are subject to normal year end
adjustments; as well as the most recent capitalization table for Borrower if there were any changes from the last capitalization table provided, including the weighted average exercise price of employee stock options; 

(c) as soon as practicable (and in any event within two hundred seventy (270) days) after the end of each fiscal year,
unqualified audited financial statements as of the end of such year (prepared on a consolidated basis, if applicable), including balance sheet and related statements of income and cash flows, and setting forth in comparative form the corresponding
figures for the preceding fiscal year, certified by a firm of independent certified public accountants selected by Borrower and reasonably acceptable to Agent (accountants of recognized national standing and Borrower’s existing accountants are
deemed acceptable to Agent), accompanied by any management report from such accountants; 
 (d) together with the monthly and
quarterly financial statements required pursuant to Sections 7.1(a) and (b), as applicable, a Compliance Certificate in the form of Exhibit F attaching, so long as the Revolving Loan is outstanding, a Borrowing Base Certificate; 

(e) as soon as practicable (and in any event within 7 days) after the end of each month, a report showing agings of Accounts
receivable and Accounts payable; 
 (f) promptly after the sending or filing thereof, as the case may be, copies of any proxy
statements, financial statements or reports that Borrower has made available to holders of its Preferred Stock and copies of any regular, periodic and special reports or registration statements that Borrower files with the Securities and Exchange
Commission or any governmental authority that may be substituted therefor, or any national securities exchange; 
 (g) at the
same time and in the same manner as it gives to its directors, copies of all notices, minutes, consents and other materials that Borrower provides to its directors in connection with meetings of the board of directors, and within 30 days after each
such meeting, minutes of such meeting, provided that in all cases Borrower may exclude confidential compensation information, attorney/client privileged communications, matters that present a direct conflict of interest to Agent or any Lender, such
as a take-out financing proposal, and executive session materials; and 
 (h) financial and business projections promptly
following their approval by Borrower’s board of directors, and in any event, within 30 days after the end of Borrower’s fiscal year, as well as budgets, operating plans and other financial information reasonably requested by Agent. 

 Borrower shall not (without the consent of Agent, such consent not to be unreasonably withheld or
delayed), make any change in its (a) accounting policies or reporting practices, except as required by GAAP or (b) fiscal years or fiscal quarters. The fiscal year of Borrower shall end on December 31. 

The executed Compliance Certificate may be sent via facsimile to Agent at (650) 473-9194 or via e-mail to tpandjiris@htgc.com. All
Financial Statements required to be delivered pursuant to clauses (a), (b) and (c) shall be sent via e-mail to financialstatements@herculestech.com with a copy to tpandjiris@htgc.com provided, that if e-mail is not available or
sending such Financial Statements via e-mail is not possible, they shall be sent via facsimile to Agent at: (866) 468-8916, attention Chief Credit Officer. 

7.2 Management Rights. Borrower shall permit any representative that Agent or Lender authorizes, including its attorneys and
accountants, to inspect the Collateral and examine and make copies and abstracts of the books of account and records of Borrower at reasonable times and upon reasonable notice during normal business hours; provided that, such inspection and
examination shall be conducted no more often than twice every twelve (12) months unless an Event of Default has occurred. In addition, any such representative shall have the right to meet with management and officers of Borrower to discuss such
books of account and records. In addition, Agent or Lender shall be entitled at reasonable times and intervals to consult with and advise the management and officers of Borrower concerning significant business issues affecting Borrower. Such
consultations shall not unreasonably interfere with Borrower’s business operations. The parties intend that the rights granted Agent and Lender shall constitute “management rights” within the meaning of 29 C.F.R.
Section 2510.3-101(d)(3)(ii), but that any advice, recommendations or participation by Agent or Lender with respect to any business issues shall not be deemed to give Agent or Lender, nor be deemed an exercise by Agent or Lender of, control
over Borrower’s management or policies. 
 7.3 Further Assurances. Borrower shall from time to time execute, deliver and
file, alone or with Agent, any financing statements, security agreements, collateral assignments, notices, control agreements, or other documents to perfect or give the highest priority to Agent’s Lien on the Collateral. Borrower shall from
time to time procure any instruments or documents as may be reasonably requested by Agent, and take all further action that may be necessary or desirable, or that Agent may reasonably request, to perfect and protect the Liens granted hereby and
thereby. In addition, and for such purposes only, Borrower hereby authorizes Agent to execute and deliver on behalf of Borrower and to file such financing statements, collateral assignments, notices, control agreements, security agreements and other
documents without the signature of Borrower either in Agent’s name or in the name of Agent as agent and attorney-in-fact for Borrower. Borrower shall protect and defend Borrower’s title to the Collateral and Agent’s Lien thereon
against all Persons claiming any interest adverse to Borrower or Agent other than Permitted Liens. 

 7.4 Indebtedness. Borrower shall not create, incur, assume, guarantee or be or
remain liable with respect to any Indebtedness, or permit any Subsidiary so to do, other than Permitted Indebtedness, or prepay any Indebtedness or take any actions which impose on Borrower an obligation to prepay any Indebtedness, except for the
Secured Obligations, the conversion of Indebtedness into equity securities and the payment of cash in lieu of fractional shares in connection with such conversion. Borrower shall not make any payment on or in connection with the Subordinated Debt
(as defined in the Pinnacle Intercreditor Agreement) other than scheduled payments pursuant to the terms of the documents governing such Indebtedness as in effect on the Closing Date. 

7.5 Collateral. Borrower shall at all times keep the Collateral, the Intellectual Property and all other property and assets
used in Borrower’s business or in which Borrower now or hereafter holds any interest free and clear from any legal process or Liens whatsoever (except for Permitted Liens), and shall give Agent prompt written notice of any legal process
affecting the Collateral, the Intellectual Property, such other property and assets, or any Liens thereon, provided however, that the Collateral and such other property and assets may be subject to Permitted Liens except that there shall be no Liens
whatsoever on Intellectual Property except for Permitted Liens described in clause (ix) of the definition thereof. Borrower shall cause its Subsidiaries to protect and defend such Subsidiary’s title to its assets from and against all
Persons claiming any interest adverse to such Subsidiary, and Borrower shall cause its Subsidiaries at all times to keep such Subsidiary’s property and assets free and clear from any legal process or Liens whatsoever (except for Permitted
Liens, provided however, that there shall be no Liens whatsoever on Intellectual Property except for Permitted Liens described in clause (ix) of the definition thereof), and shall give Agent prompt written notice of any legal process affecting
such Subsidiary’s assets. Borrower shall not agree with any Person other than Agent or Lender not to encumber its property. 

7.6 Investments. Borrower shall not directly or indirectly acquire or own, or make any Investment in or to any Person, or
permit any of its Subsidiaries so to do, other than Permitted Investments. 
 7.7 Distributions. Borrower shall not, and
shall not allow any Subsidiary to, (a) repurchase or redeem any class of stock or other equity interest other than (i) pursuant to employee, director or consultant stock purchase or repurchase plans or other similar agreements, provided,
however, in each case the repurchase or redemption price does not exceed the original consideration paid for such stock or equity interest, and (ii) the conversion of any of its convertible securities into other securities pursuant to the terms
of such convertible securities or otherwise in exchange therefor (as long as no dividend in cash or other payment in cash is made in connection thereto), or (b) declare or pay any cash dividend or make a cash distribution on any class of stock
or other equity interest, except that a Subsidiary may pay dividends or make distributions to Borrower and Borrower may pay dividends solely in Common Stock, or (c) lend money to any employees, officers or directors or guarantee the payment of
any such loans granted by a third party in excess of $250,000 in the aggregate or (d) waive, release or forgive any Indebtedness owed by any employees, officers or directors in excess of $100,000 in the aggregate. 

 7.8 Transfers. Except for Permitted Transfers, Borrower shall not voluntarily or
involuntarily transfer, sell, lease, license, lend or in any other manner convey any equitable, beneficial or legal interest in any material portion of its assets. 

7.9 Mergers or Acquisitions. Borrower shall not merge or consolidate, or permit any of its Subsidiaries to merge or
consolidate, with or into any other business organization (other than mergers or consolidations of (a) a Subsidiary which is not a Borrower into another Subsidiary or into Borrower or (b) a Borrower into another Borrower), or acquire, or
permit any of its Subsidiaries to acquire, all or substantially all of the capital stock or property of another Person. 

7.10 Taxes. Borrower and its Subsidiaries shall pay when due all taxes, fees or other charges of any nature whatsoever
(together with any related interest or penalties) now or hereafter imposed or assessed against Borrower, Agent, Lender (excluding taxes on Agent’s or Lender’s net income or any taxes assessed on Agent or Lender that are not related to the
transactions in connection with the Loan Documents) or the Collateral or upon Borrower’s ownership, possession, use, operation or disposition thereof or upon Borrower’s rents, receipts or earnings arising therefrom. Borrower shall file on
or before the due date therefor all personal property tax returns in respect of the Collateral. Notwithstanding the foregoing, Borrower may contest, in good faith and by appropriate proceedings, taxes for which Borrower maintains adequate reserves
therefor in accordance with GAAP. 
 7.11 Corporate Changes. Neither Borrower nor any Subsidiary shall change its corporate
name, legal form or jurisdiction of formation without twenty (20) days’ prior written notice to Agent. Neither Borrower nor any Subsidiary of Borrower shall suffer a Change in Control; provided, however, that Borrower or any Subsidiary of
the Borrower may suffer a Change in Control so long as in connection with such Change in Control the Secured Obligations (other than inchoate indemnity obligations) are paid in full in cash. Neither Borrower nor any Subsidiary shall relocate its
chief executive office or its principal place of business unless: (i) it has provided prior written notice to Agent; and (ii) such relocation shall be within the continental United States of America. Neither Borrower nor any Domestic
Subsidiary shall relocate any item of Collateral (other than (w) worn-out, obsolete or surplus Equipment, (x) sales of Inventory in the ordinary course of business, (y) relocations of Equipment having an aggregate value of up to
$250,000 in any fiscal year, and (z) relocations of Collateral from a location described on Exhibit C to another location described on Exhibit C) unless (i) it has provided prompt written notice to Agent, (ii) such relocation is
within the continental United States of America, and (iii) if such relocation is to a third party bailee, it has delivered a bailee agreement in form and substance reasonably acceptable to Agent. No Foreign Subsidiary shall relocate any item of
Collateral (other than (w) worn-out, obsolete or surplus Equipment, (x) sales of Inventory in the ordinary course of business, (y) relocations of Equipment having an aggregate value of up to $250,000 in any fiscal year, and
(z) relocations of Collateral from a location described on Exhibit C to another location described on Exhibit C) unless it has provided prompt written notice to Agent. 

 7.12 Deposit Accounts. Subject to Section 7.20(d), neither Borrower nor any
Domestic Subsidiary shall maintain any Deposit Accounts, or accounts holding Investment Property, except with respect to which Agent has an Account Control Agreement; provided that, upon any Borrower’s opening of a new Deposit Account that is
subject to an Account Control Agreement in favor of Agent, Agent hereby agrees to permit such Borrower to close any other account that has been replaced by such new Deposit Account upon written request from such Borrower and immediately following
all funds in such former account have been transferred to a Deposit Account that is subject to an Account Control Agreement in favor of Agent. 

7.13 Borrower shall notify Agent of each Subsidiary formed subsequent to the Closing Date and, within 15 days of formation,
shall cause any such Domestic Subsidiary to execute and deliver to Agent a Joinder Agreement. 
 7.14 Borrower shall notify
Agent promptly of any event or circumstance which to Borrower’s knowledge would cause Agent to consider any then existing Account as no longer constituting an Eligible Account. 

7.15 Notification of Event of Default. Borrower shall notify Agent immediately of the occurrence of any Event of Default or any
default under the Subordinated Debt (as defined in the Pinnacle Intercreditor Agreement), such notice to be sent via facsimile to Agent. 

7.16 [RESERVED] 

7.17 Compromise of Agreements. With respect to Accounts with a combined value in excess of twenty percent (20%) of all of
Borrower’s Accounts then outstanding, Borrower shall not (a) grant any material extension of the time of payment thereof, (b) to any material extent, compromise, compound or settle the same for less than the full amount thereof,
(c) release, wholly or partly, any Person liable for the payment thereof, or (d) allow any credit or discount whatsoever thereon other than trade discounts granted by Borrower in the ordinary course of business of Borrower. 

7.18 Use of Proceeds. The proceeds of the Revolving Loan shall be used solely to refinance the Borrower’s existing senior
Indebtedness and as working capital, to finance purchase orders, Inventory, or Accounts receivable. 
 7.19 Borrower shall
not amend any document governing the Subordinated Debt (as defined in the Pinnacle Intercreditor Agreement) or agree to any consent or waiver under such documents without the approval of Agent. 

7.20 Post-Closing Obligations: 

(a) Borrower shall deliver to Agent certificates of insurance and additional insured endorsements satisfying the requirements
of Section 6.2 hereto, all in form and substance satisfactory to Agent, within ten (10) days of the Closing Date. 

 (b) Borrower shall deliver to Agent within thirty (30) days of the Closing
Date all certificates or other instruments representing or evidencing any Pledged Interests (as defined in the Share Pledge) in Aquantia India Semiconductor Private Limited, accompanied by appropriate duly executed instruments of transfer or
assignment (including, without limitation, stock powers) in blank, all in form and substance satisfactory to Agent. 
 (c)
Borrower shall file all necessary documentation with the State of California necessary to dissolve Novin IP, Inc. within thirty (30) days of the Closing Date. 

(d) Borrower shall deliver to Agent within thirty (30) days of the Closing Date an executed Account Control Agreement
among U.S. Bank, N.A., SVB Asset Management, Borrower and Agent with respect to account number 19-SV291. 

SECTION 8. RIGHT TO INVEST 

8.1 Lender or its Assignee or nominee shall have the right, in its discretion, to participate in any Subsequent Financing in an
amount of up to $1,000,000 on the same terms, conditions and pricing afforded to others participating in any such Subsequent Financing. 

SECTION 9. EVENTS OF DEFAULT 

The occurrence of any one or more of the following events shall be an Event of Default: 

9.1 Payments. Borrower fails to pay any amount due under this Agreement or any of the other Loan Documents on the due date;
provided, however, that an Event of Default shall not occur on account of a failure to pay due solely to an administrative or operational error of Agent or any Lender if Borrower had the funds to make the payment when due and makes the payment
within three (3) Business Days following Borrower’s knowledge of such failure to pay; or 
 9.2 Covenants. Borrower
breaches or defaults in the performance of any covenant or Secured Obligation under this Agreement, or any of the other Loan Documents or any other agreement among Borrower, Agent and Lender, and (a) with respect to a default under any covenant
under this Agreement (other than under Sections 6, 7.4, 7.5, 7.6, 7.7, 7.8, 7.9, 7.15 and 7.19), any other Loan Document or any other agreement among Borrower, Agent and Lender, such default continues for more than ten (10) days after the
earlier of the date on which (i) Agent or Lender has given notice of such default to Borrower and (ii) Borrower has actual knowledge of such default or (b) with respect to a default under any of Sections 6, 7.4, 7.5, 7.6, 7.7, 7.8,
7.9, 7.15 and 7.19, the occurrence of such default; or 
 9.3 Material Adverse Effect. A circumstance has occurred that has a
Material Adverse Effect. In determining whether such circumstance has occurred for the purpose of this Section 9.3, Agent’s primary, though not sole, consideration will be whether Borrower has or will have sufficient cash resources to
repay the Secured Obligations as and when due. Agent recognizes that, as a pre-profit company, Borrower’s cash resources will 

 
decline over time, and Borrower will periodically require additional infusions of equity capital. The clear intention of Borrower’s investors to continue to fund Borrower in the amounts and
timeframe necessary, in Agent’s good faith judgment, to enable Borrower to satisfy the Secured Obligations as they become due and payable is the most significant criterion Agent shall consider in making any such determination; or 

9.4 Representations. Any representation or warranty made by Borrower in any Loan Document or in the Warrant shall have been
false or misleading in any material respect when made or deemed made; or 
 9.5 Insolvency. (A) Borrower (i) shall
make an assignment for the benefit of creditors; or (ii) shall be unable to pay its debts as they become due, or be unable to pay or perform under the Loan Documents, or shall cease to be Solvent (which shall be determined in Agent’s
reasonable discretion in consultation with an accounting firm of recognized national standing; provided that in the event that Agent cannot get an accounting firm of recognized national standing to provide such analysis as described in the
definition of Solvent then Agent shall be entitled to consult with an independent third party valuation firm or financial institution); or (iii) shall file a voluntary petition in bankruptcy; or (iv) shall file any petition, answer, or
document seeking for itself any reorganization, arrangement, composition, readjustment, liquidation, dissolution or similar relief under any present or future statute, law or regulation pertinent to such circumstances; or (v) shall seek or
consent to or acquiesce in the appointment of any trustee, receiver, or liquidator of Borrower or of all or any substantial part (i.e., 33-1/3% or more) of the assets or property of Borrower; or (vi) shall cease operations of its business as
its business has normally been conducted, or terminate substantially all of its employees; or (vii) Borrower or its directors or majority shareholders shall take any action initiating any of the foregoing actions described in clauses (i)
through (vi); or (B) either (i) thirty (30) days shall have expired after the commencement of an involuntary action against Borrower seeking reorganization, arrangement, composition, readjustment, liquidation, dissolution or similar
relief under any present or future statute, law or regulation, without such action being dismissed or all orders or proceedings thereunder affecting the operations or the business of Borrower being stayed; or (ii) a stay of any such order or
proceedings shall thereafter be set aside and the action setting it aside shall not be timely appealed; or (iii) Borrower shall file any answer admitting or not contesting the material allegations of a petition filed against Borrower in any
such proceedings; or (iv) the court in which such proceedings are pending shall enter a decree or order granting the relief sought in any such proceedings; or (v) thirty (30) days shall have expired after the appointment, without the
consent or acquiescence of Borrower, of any trustee, receiver or liquidator of Borrower or of all or any substantial part of the properties of Borrower without such appointment being vacated; or 

9.6 Attachments; Judgments. Any portion of Borrower’s assets is attached or seized, or a levy is filed against any such
assets, or a judgment or judgments is/are entered for the payment of money, individually or in the aggregate, of at least $250,000 (not covered by independent third party insurance as to which such liability has been accepted by such insurance
carrier as of the date of such attachment, seizure, levy or entry of judgment and such judgment remains unsatisfied, unvacated or unstayed for a period of ten (10) days after the entry thereof), or Borrower is enjoined or in any way prevented
by court order from conducting any part of its business; or 
 9.7 Other Obligations. The occurrence of any default
(including, for the avoidance of doubt, any unmatured default under the documents governing the Subordinated Debt (as defined in the Pinnacle Intercreditor Agreement) under any agreement or obligation of Borrower involving any Indebtedness in excess
of $250,000. 

 SECTION 10. REMEDIES 

10.1 General. Upon and during the continuance of any one or more Events of Default, (i) Agent may, at its option,
accelerate and demand payment of all or any part of the Secured Obligations and declare them to be immediately due and payable (provided, that upon the occurrence of an Event of Default of the type described in Section 9.5, all of the Secured
Obligations shall automatically be accelerated and made due and payable, in each case without any further notice or act), (ii) Agent may, at its option, sign and file in Borrower’s name any and all collateral assignments, notices, control
agreements, security agreements and other documents it deems necessary or appropriate to perfect or protect the repayment of the Secured Obligations, and in furtherance thereof, Borrower hereby grants Agent an irrevocable power of attorney coupled
with an interest, and (iii) Agent may notify any of Borrower’s account debtors to make payment directly to Agent, compromise the amount of any such account on Borrower’s behalf and endorse Agent’s name without recourse on any
such payment for deposit directly to Agent’s account. Agent may exercise all rights and remedies with respect to the Collateral under the Loan Documents or otherwise available to it under the UCC and other applicable law, including the right to
release, hold, sell, lease, liquidate, collect, realize upon, or otherwise dispose of all or any part of the Collateral and the right to occupy, utilize, process and commingle the Collateral. All Agent’s rights and remedies shall be cumulative
and not exclusive. 
 10.2 Collection; Foreclosure. Upon the occurrence and during the continuance of any Event of Default,
Agent may, at any time or from time to time, apply, collect, liquidate, sell in one or more sales, lease or otherwise dispose of, any or all of the Collateral, in its then condition or following any commercially reasonable preparation or processing,
in such order as Agent may elect. Any such sale may be made either at public or private sale at its place of business or elsewhere. Borrower agrees that any such public or private sale may occur upon ten (10) calendar days’ prior written
notice to Borrower. Agent may require Borrower to assemble the Collateral and make it available to Agent at a place designated by Agent that is reasonably convenient to Agent and Borrower. The proceeds of any sale, disposition or other realization
upon all or any part of the Collateral shall be applied by Agent in the following order of priorities: 
 First, to Agent and Lender in an
amount sufficient to pay in full Agent’s and Lender’s costs and professionals’ and advisors’ fees and expenses as described in Section 11.11; 

Second, to Lender in an amount equal to the then unpaid amount of the Secured Obligations (including principal, interest, and the default rate
interest), in such order and priority as Agent may choose in its sole discretion; and 
 Finally, after the full, final, and indefeasible
payment in Cash of all of the Secured Obligations, to any creditor holding a junior Lien on the Collateral, or to Borrower or its representatives or as a court of competent jurisdiction may direct. 

 Agent shall be deemed to have acted reasonably in the custody, preservation and disposition of any of the
Collateral if it complies with the obligations of a secured party under the UCC. 
 10.3 No Waiver. Agent shall be under no
obligation to marshal any of the Collateral for the benefit of Borrower or any other Person, and Borrower expressly waives all rights, if any, to require Agent to marshal any Collateral. 

10.4 Cumulative Remedies. The rights, powers and remedies of Agent hereunder shall be in addition to all rights, powers and
remedies given by statute or rule of law and are cumulative. The exercise of any one or more of the rights, powers and remedies provided herein shall not be construed as a waiver of or election of remedies with respect to any other rights, powers
and remedies of Agent. 
 SECTION 11. MISCELLANEOUS 

11.1 Severability. Whenever possible, each provision of this Agreement shall be interpreted in such manner as to be effective
and valid under applicable law, but if any provision of this Agreement shall be prohibited by or invalid under such law, such provision shall be ineffective only to the extent and duration of such prohibition or invalidity, without invalidating the
remainder of such provision or the remaining provisions of this Agreement. 
 11.2 Notice. Except as otherwise provided
herein, any notice, demand, request, consent, approval, declaration, service of process or other communication (including the delivery of Financial Statements) that is required, contemplated, or permitted under the Loan Documents or with respect to
the subject matter hereof shall be in writing, and shall be deemed to have been validly served, given, delivered, and received upon the earlier of: (i) the day of transmission by facsimile or hand delivery or delivery by an overnight express
service or overnight mail delivery service; or (ii) the third calendar day after deposit in the United States mails, with proper first class postage prepaid, in each case addressed to the party to be notified as follows: 

 

	 	(a)	If to Agent: 

 HERCULES TECHNOLOGY GROWTH CAPITAL, INC. 

Legal Department 
 Attention:

 Facsimile: 
 Telephone:

 with a copy (which shall not constitute notice) to: 

LATHAM & WATKINS LLP 

Attention: 
 Telephone: 

Email: 

	 	(b)	If to Lender: 

 HERCULES TECHNOLOGY GROWTH CAPITAL, INC. 

Legal Department 
 Attention: 1

 Facsimile: 
 Telephone:

 with a copy (which shall not constitute notice) to: 

LATHAM & WATKINS LLP 

Attention: 
 Telephone: 

Email: 
  

	 	(c)	If to Borrower: 

 Aquantia Corp. 

Attention: 
 Facsimile: 

Telephone: 
 with a copy (which
shall not constitute notice) to: 
 COOLEY LLP 

Attention: 
 Telephone: 

Email: 
 or to such other address
as each party may designate for itself by like notice. 
 11.3 Entire Agreement; Amendments. 

(a) This Agreement and the other Loan Documents constitute the entire agreement and understanding of the parties hereto in
respect of the subject matter hereof and thereof, and supersede and replace in their entirety any prior proposals, term sheets, non-disclosure or confidentiality agreements, letters, negotiations or other documents or agreements, whether written or
oral, with respect to the subject matter hereof or thereof (including Agent’s revised proposal letters dated November 1, 2014 and January 7, 2015). 

(b) Neither this Agreement, any other Loan Document, nor any terms hereof or thereof may be amended, supplemented or modified
except in accordance with the provisions of this Section 11.3(b). The Required Lenders and Borrower party to the relevant Loan Document may, or, with the written consent of the Required Lenders, the

 
Agent and the Borrower party to the relevant Loan Document may, from time to time, (i) enter into written amendments, supplements or modifications hereto and to the other Loan Documents for
the purpose of adding any provisions to this Agreement or the other Loan Documents or changing in any manner the rights of the Lenders or of the Borrower hereunder or thereunder or (ii) waive, on such terms and conditions as the Required
Lenders or the Agent, as the case may be, may specify in such instrument, any of the requirements of this Agreement or the other Loan Documents or any default or Event of Default and its consequences; provided, however, that no such waiver and no
such amendment, supplement or modification shall (A) forgive the principal amount or extend the final scheduled date of maturity of any Loan, reduce the stated rate of any interest or fee payable hereunder or extend the scheduled date of any
payment thereof, or increase the amount or extend the expiration date of any Lender’s Revolving Commitment, in each case without the written consent of each Lender directly affected thereby; (B) eliminate or reduce the voting rights of any
Lender under this Section 11.3(b) without the written consent of such Lender; (C) reduce any percentage specified in the definition of Required Lenders, consent to the assignment or transfer by the Borrower of any of its rights and
obligations under this Agreement and the other Loan Documents, release all or substantially all of the Collateral or release a Borrower from its obligations under the Loan Documents, in each case without the written consent of all Lenders; or
(D) amend, modify or waive any provision of Section 11.17 without the written consent of the Agent. Any such waiver and any such amendment, supplement or modification shall apply equally to each Lender and shall be binding upon Borrower,
the Lender, the Agent and all future holders of the Loans. 
 11.4 No Strict Construction. The parties hereto have
participated jointly in the negotiation and drafting of this Agreement. In the event an ambiguity or question of intent or interpretation arises, this Agreement shall be construed as if drafted jointly by the parties hereto and no presumption or
burden of proof shall arise favoring or disfavoring any party by virtue of the authorship of any provisions of this Agreement. 

11.5 No Waiver. The powers conferred upon Agent and Lender by this Agreement are solely to protect its rights hereunder and
under the other Loan Documents and its interest in the Collateral and shall not impose any duty upon Agent or Lender to exercise any such powers. No omission or delay by Agent or Lender at any time to enforce any right or remedy reserved to it, or
to require performance of any of the terms, covenants or provisions hereof by Borrower at any time designated, shall be a waiver of any such right or remedy to which Agent or Lender is entitled, nor shall it in any way affect the right of Agent or
Lender to enforce such provisions thereafter. 
 11.6 Survival. All agreements, representations and warranties contained in
this Agreement and the other Loan Documents or in any document delivered pursuant hereto or thereto shall be for the benefit of Agent and Lender and shall survive the execution and delivery of this Agreement. Sections 11.11 and 11.17 shall survive
the expiration or other termination of this Agreement, and the indemnity obligations of Borrower in Section 6.3 shall survive until the statute of limitations with respect to such claim or cause of action shall have run. 

 11.7 Successors and Assigns. The provisions of this Agreement and the other Loan
Documents shall inure to the benefit of and be binding on Borrower and its permitted assigns (if any). Borrower shall not assign its obligations under this Agreement or any of the other Loan Documents without Agent’s express prior written
consent, and any such attempted assignment shall be void and of no effect. Agent and Lender may assign, transfer, or endorse its rights hereunder and under the other Loan Documents without prior notice to Borrower, and all of such rights shall inure
to the benefit of Agent’s and Lender’s successors and assigns. 
 11.8 Governing Law. This Agreement and the other
Loan Documents have been negotiated and delivered to Agent and Lender in the State of California, and shall have been accepted by Agent and Lender in the State of California. Payment to Agent and Lender by Borrower of the Secured Obligations is due
in the State of California. This Agreement and the other Loan Documents shall be governed by, and construed and enforced in accordance with, the laws of the State of California, excluding conflict of laws principles that would cause the application
of laws of any other jurisdiction. 
 11.9 Consent to Jurisdiction and Venue. All judicial proceedings (to the extent that
the reference requirement of Section 11.10 is not applicable) arising in or under or related to this Agreement or any of the other Loan Documents may be brought in any state or federal court located in the State of California. By execution and
delivery of this Agreement, each party hereto generally and unconditionally: (a) consents to nonexclusive personal jurisdiction in Santa Clara County, State of California; (b) waives any objection as to jurisdiction or venue in Santa Clara
County, State of California; (c) agrees not to assert any defense based on lack of jurisdiction or venue in the aforesaid courts; and (d) irrevocably agrees to be bound by any judgment rendered thereby in connection with this Agreement or
the other Loan Documents. Service of process on any party hereto in any action arising out of or relating to this Agreement shall be effective if given in accordance with the requirements for notice set forth in Section 11.2, and shall be
deemed effective and received as set forth in Section 11.2. Nothing herein shall affect the right to serve process in any other manner permitted by law or shall limit the right of either party to bring proceedings in the courts of any other
jurisdiction. 
 11.10 Mutual Waiver of Jury Trial / Judicial Reference. 

(a) Because disputes arising in connection with complex financial transactions are most quickly and economically resolved by an
experienced and expert Person and the parties wish applicable state and federal laws to apply (rather than arbitration rules), the parties desire that their disputes be resolved by a judge applying such applicable laws. EACH OF BORROWER, AGENT AND
LENDER SPECIFICALLY WAIVES ANY RIGHT IT MAY HAVE TO TRIAL BY JURY OF ANY CAUSE OF ACTION, CLAIM, CROSS-CLAIM, COUNTERCLAIM, THIRD PARTY CLAIM OR ANY OTHER CLAIM (COLLECTIVELY, “CLAIMS”) ASSERTED BY BORROWER AGAINST AGENT, LENDER OR THEIR
RESPECTIVE ASSIGNEE OR BY AGENT, LENDER OR THEIR RESPECTIVE ASSIGNEE AGAINST BORROWER. This waiver extends to all such Claims, including Claims that involve Persons other than Agent, Borrower and Lender; Claims that arise out of or are in any way
connected to the 

 
relationship among Borrower, Agent and Lender; and any Claims for damages, breach of contract, tort, specific performance, or any equitable or legal relief of any kind, arising out of this
Agreement, any other Loan Document. 
 (b) If the waiver of jury trial set forth in Section 11.10(a) is ineffective or
unenforceable, the parties agree that all Claims shall be resolved by reference to a private judge sitting without a jury, pursuant to Code of Civil Procedure Section 638, before a mutually acceptable referee or, if the parties cannot agree, a
referee selected by the Presiding Judge of Santa Clara County, California. Such proceeding shall be conducted in Santa Clara County, California, with California rules of evidence and discovery applicable to such proceeding. 

(c) In the event Claims are to be resolved by judicial reference, either party may seek from a court identified in
Section 11.9, any prejudgment order, writ or other relief and have such prejudgment order, writ or other relief enforced to the fullest extent permitted by law notwithstanding that all Claims are otherwise subject to resolution by judicial
reference. 
 11.11 Professional Fees. Borrower promises to pay Agent’s and Lender’s fees and expenses necessary to
finalize the loan documentation, including but not limited to reasonable attorneys fees, UCC searches, filing costs, and other miscellaneous expenses. In addition, Borrower promises to pay any and all reasonable attorneys’ and other
professionals’ fees and expenses (including fees and expenses of in-house counsel) incurred by Agent and Lender after the Closing Date in connection with or related to: (a) the Loan; (b) the administration, collection, or enforcement
of the Loan; (c) the amendment or modification of the Loan Documents; (d) any waiver, consent, release, or termination under the Loan Documents; (e) the protection, preservation, audit, field exam, sale, lease, liquidation, or
disposition of Collateral or the exercise of remedies with respect to the Collateral; (f) any legal, litigation, administrative, arbitration, or out of court proceeding in connection with or related to Borrower or the Collateral, and any appeal
or review thereof; and (g) any bankruptcy, restructuring, reorganization, assignment for the benefit of creditors, workout, foreclosure, or other action related to Borrower, the Collateral, the Loan Documents, including representing Agent or
Lender in any adversary proceeding or contested matter commenced or continued by or on behalf of Borrower’s estate, and any appeal or review thereof. 

11.12 Confidentiality. Agent and Lender acknowledge that certain items of Collateral and information provided to Agent and
Lender by Borrower are confidential and proprietary information of Borrower, if and to the extent such information either (x) is marked as confidential by Borrower at the time of disclosure, or (y) should reasonably be understood to be
confidential (the “Confidential Information”). Accordingly, Agent and Lender agree that any Confidential Information it may obtain in the course of acquiring, administering, or perfecting Agent’s security interest in the Collateral
shall not be disclosed to any other Person or entity in any manner whatsoever, in whole or in part, without the prior written consent of Borrower, except that Agent and Lender may disclose any such information: (a) to its own directors,
officers, employees, accountants, counsel and other professional advisors and to its affiliates if Agent or Lender in their sole 

 
discretion determines that any such party should have access to such information in connection with such party’s responsibilities in connection with the Loan or this Agreement and, provided
that such recipient of such Confidential Information either (i) agrees to be bound by the confidentiality provisions of this paragraph or (ii) is otherwise subject to confidentiality restrictions that reasonably protect against the
disclosure of Confidential Information; (b) if such information is generally available to the public at the time of disclosure to Agent or Lender as a result of Agent or Lender failing to comply with the other provisions of this
Section 11.12; (c) if required or appropriate in any report, statement or testimony submitted to any governmental authority having or claiming to have jurisdiction over Agent or Lender; (d) if required or appropriate in response to
any summons or subpoena or in connection with any litigation, to the extent permitted or deemed advisable by Agent’s or Lender’s counsel; (e) to comply with any legal requirement or law applicable to Agent or Lender; (f) to the
extent reasonably necessary in connection with the exercise of any right or remedy under any Loan Document, including Agent’s sale, lease, or other disposition of Collateral after default; (g) to any participant or Assignee of Agent or
Lender or any prospective participant or Assignee; provided, that such participant or Assignee or prospective participant or Assignee agrees in writing to be bound by this Section prior to disclosure; or (h) otherwise with the prior consent of
Borrower; provided, that any disclosure made in violation of this Agreement shall not affect the obligations of Borrower or any of its affiliates or any guarantor under this Agreement or the other Loan Documents. 

11.13 Assignment of Rights. Borrower acknowledges and understands that Agent or Lender may sell and assign all or part of its
interest hereunder and under the Loan Documents to any Person or entity (an “Assignee”). After such assignment the term “Agent” or “Lender” as used in the Loan Documents shall mean and include such Assignee, and such
Assignee shall be vested with all rights, powers and remedies of Agent and Lender hereunder with respect to the interest so assigned; but with respect to any such interest not so transferred, Agent and Lender shall retain all rights, powers and
remedies hereby given. No such assignment by Agent or Lender shall relieve Borrower of any of its obligations hereunder. Lender agrees that in the event of any transfer by it of the Note(s)(if any), it will endorse thereon a notation as to the
portion of the principal of the Note(s), which shall have been paid at the time of such transfer and as to the date to which interest shall have been last paid thereon. 

11.14 Revival of Secured Obligations. This Agreement and the Loan Documents shall remain in full force and effect and continue
to be effective if any petition is filed by or against Borrower for liquidation or reorganization, if Borrower becomes insolvent or makes an assignment for the benefit of creditors, if a receiver or trustee is appointed for all or any significant
part of Borrower’s assets, or if any payment or transfer of Collateral is recovered from Agent or Lender. The Loan Documents and the Secured Obligations and Collateral security shall continue to be effective, or shall be revived or reinstated,
as the case may be, if at any time payment and performance of the Secured Obligations or any transfer of Collateral to Agent, or any part thereof is rescinded, avoided or avoidable, reduced in amount, or must otherwise be restored or returned by, or
is recovered from, Agent, Lender or by any obligee of the Secured Obligations, whether as a “voidable preference,” “fraudulent conveyance,” or otherwise, all as though such payment,

 
performance, or transfer of Collateral had not been made. In the event that any payment, or any part thereof, is rescinded, reduced, avoided, avoidable, restored, returned, or recovered, the Loan
Documents and the Secured Obligations shall be deemed, without any further action or documentation, to have been revived and reinstated except to the extent of the full, final, and indefeasible payment to Agent or Lender in Cash. 

11.15 Counterparts. This Agreement and any amendments, waivers, consents or supplements hereto may be executed in any number of
counterparts, and by different parties hereto in separate counterparts, each of which when so delivered shall be deemed an original, but all of which counterparts shall constitute but one and the same instrument. 

11.16 No Third Party Beneficiaries. No provisions of the Loan Documents are intended, nor will be interpreted, to provide or
create any third-party beneficiary rights or any other rights of any kind in any Person other than Agent, Lender and Borrower unless specifically provided otherwise herein, and, except as otherwise so provided, all provisions of the Loan Documents
will be personal and solely among Agent, the Lender and the Borrower. 
 11.17 Agency. 

(a) Lender hereby irrevocably appoints Hercules Technology Growth Capital, Inc. to act on its behalf as the Agent hereunder and
under the other Loan Documents and authorizes the Agent to take such actions on its behalf and to exercise such powers as are delegated to the Agent by the terms hereof or thereof, together with such actions and powers as are reasonably incidental
thereto. 
 (b) Lender agrees to indemnify the Agent in its capacity as such (to the extent not reimbursed by Borrower and
without limiting the obligation of Borrower to do so), according to its respective Revolving Commitment (based upon the total outstanding Revolving Commitment) in effect on the date on which indemnification is sought under this Section 11.17,
from and against any and all liabilities, obligations, losses, damages, penalties, actions, judgments, suits, costs, expenses or disbursements of any kind whatsoever that may at any time be imposed on, incurred by or asserted against the Agent in
any way relating to or arising out of, this Agreement, any of the other Loan Documents or any documents contemplated by or referred to herein or therein or the transactions contemplated hereby or thereby or any action taken or omitted by the Agent
under or in connection with any of the foregoing; The agreements in this Section shall survive the payment of the Loans and all other amounts payable hereunder. 

(c) Agent in Its Individual Capacity. The Person serving as the Agent hereunder shall have the same rights and powers in its
capacity as a Lender as any other Lender and may exercise the same as though it were not the Agent and the term “Lender” shall, unless otherwise expressly indicated or unless the context otherwise requires, include each such Person serving
as Agent hereunder in its individual capacity. 

 (d) Exculpatory Provisions. The Agent shall have no duties or obligations except
those expressly set forth herein and in the other Loan Documents. Without limiting the generality of the foregoing, the Agent shall not: 
  

	 	(i)	be subject to any fiduciary or other implied duties, regardless of whether any default or any Event of Default has occurred and is continuing; 

 

	 	(ii)	have any duty to take any discretionary action or exercise any discretionary powers, except discretionary rights and powers expressly contemplated hereby or by the other Loan Documents that the Agent is required to
exercise as directed in writing by the Lender, provided that the Agent shall not be required to take any action that, in its opinion or the opinion of its counsel, may expose the Agent to liability or that is contrary to any Loan Document or
applicable law; and 

  

	 	(iii)	except as expressly set forth herein and in the other Loan Documents, have any duty to disclose, and the Agent shall not be liable for the failure to disclose, any information relating to the Borrower or any of its
affiliates that is communicated to or obtained by any Person serving as the Agent or any of its affiliates in any capacity. 

(e) The Agent shall not be liable for any action taken or not taken by it (i) with the consent or at the request of the
Lender or as the Agent shall believe in good faith shall be necessary, under the circumstances or (ii) in the absence of its own gross negligence or willful misconduct. 

(f) The Agent shall not be responsible for or have any duty to ascertain or inquire into (i) any statement, warranty or
representation made in or in connection with this Agreement or any other Loan Document, (ii) the contents of any certificate, report or other document delivered hereunder or thereunder or in connection herewith or therewith, (iii) the
performance or observance of any of the covenants, agreements or other terms or conditions set forth herein or therein or the occurrence of any default or Event of Default, (iv) the validity, enforceability, effectiveness or genuineness of this
Agreement, any other Loan Document or any other agreement, instrument or document or (v) the satisfaction of any condition set forth in Section 4 or elsewhere herein, other than to confirm receipt of items expressly required to be
delivered to the Agent. 
 (g) Reliance by Agent. Agent may rely, and shall be fully protected in acting, or refraining to
act, upon, any resolution, statement, certificate, instrument, opinion, report, notice, request, consent, order, bond or other paper or document that it has no reason to believe to be other than genuine and to have been signed or presented by the
proper party or parties or, in the case of cables, telecopies and telexes, to have been sent by the proper party or parties. In the absence of its gross negligence or willful misconduct, Agent may conclusively rely, as to the truth of the statements
and the correctness of the opinions expressed therein, upon any certificates or opinions furnished to Agent and conforming to the requirements of the Loan Agreement or any of the other 

 
Loan Documents. Agent may consult with counsel, and any opinion or legal advice of such counsel shall be full and complete authorization and protection in respect of any action taken, not taken
or suffered by Agent hereunder or under any Loan Documents in accordance therewith. Agent shall have the right at any time to seek instructions concerning the administration of the Collateral from any court of competent jurisdiction. Agent shall not
be under any obligation to exercise any of the rights or powers granted to Agent by this Agreement, the Loan Agreement and the other Loan Documents at the request or direction of Lenders unless Agent shall have been provided by Lender with adequate
security and indemnity against the costs, expenses and liabilities that may be incurred by it in compliance with such request or direction. 

11.18 Publicity. None of the parties hereto nor any of its respective member businesses and affiliates shall, without the other
parties’ prior written consent (which shall not be unreasonably withheld or delayed), publicize or use (a) the other party’s name (including a brief description of the relationship among the parties hereto), logo or hyperlink to such
other parties’ web site, separately or together, in written and oral presentations, advertising, promotional and marketing materials, client lists, public relations materials or on its web site (together, the “Publicity Materials”);
(b) the names of officers of such other parties in the Publicity Materials; and (c) such other parties’ name, Trademarks, servicemarks in any news release concerning such party; provided however, notwithstanding anything to the
contrary herein, no such consent shall be required to the extent (i) necessary to comply with the requests of any regulators, legal requirements or laws applicable to such party, and (B) in compliance with Section 11.12. 

11.19 Multiple Borrowers. 

(a) Borrower’s Agent. Each of the Borrowers hereby irrevocably appoints Aquantia Corp. as its agent, attorney-in-fact and
legal representative for all purposes, including requesting disbursement of the Revolving Loan and receiving account statements and other notices and communications to Borrowers (or any of them) from the Agent or any Lender. The Agent may rely, and
shall be fully protected in relying, on any request for the Revolving Loan, disbursement instruction, report, information or any other notice or communication made or given by the Company, whether in its own name or on behalf of one or more of the
other Borrowers, and the Agent shall not have any obligation to make any inquiry or request any confirmation from or on behalf of any other Borrower as to the binding effect on it of any such request, instruction, report, information, other notice
or communication, nor shall the joint and several character of the Borrowers’ obligations hereunder be affected thereby. 

(b) Waivers. Each Borrower hereby waives: (i) any right to require the Agent to institute suit against, or to exhaust its
rights and remedies against, any other Borrower or any other person, or to proceed against any property of any kind which secures all or any part of the Secured Obligations, or to exercise any right of offset or other right with respect to any
reserves, credits or Deposit Accounts held by or maintained with the Agent or any Indebtedness of the Agent or any Lender to any other Borrower, or to exercise any other right or power, or pursue any other remedy the Agent or any Lender may have;
(ii) any defense arising by reason of any disability or other defense of any other Borrower or any 

 
guarantor or any endorser, co-maker or other person, or by reason of the cessation from any cause whatsoever of any liability of any other Borrower or any guarantor or any endorser, co-maker or
other person, with respect to all or any part of the Secured Obligations, or by reason of any act or omission of the Agent or others which directly or indirectly results in the discharge or release of any other Borrower or any guarantor or any other
person or any Secured Obligations or any security therefor, whether by operation of law or otherwise; (iii) any defense arising by reason of any failure of the Agent to obtain, perfect, maintain or keep in force any Lien on, any property of any
Borrower or any other person; (iv) any defense based upon or arising out of any bankruptcy, insolvency, reorganization, arrangement, readjustment of debt, liquidation or dissolution proceeding commenced by or against any other Borrower or any
guarantor or any endorser, co-maker or other person, including without limitation any discharge of, or bar against collecting, any of the Secured Obligations (including without limitation any interest thereon), in or as a result of any such
proceeding. Until all of the Secured Obligations have been paid, performed, and discharged in full, nothing shall discharge or satisfy the liability of any Borrower hereunder except the full performance and payment of all of the Secured Obligations.
If any claim is ever made upon the Agent for repayment or recovery of any amount or amounts received by the Agent in payment of or on account of any of the Secured Obligations, because of any claim that any such payment constituted a preferential
transfer or fraudulent conveyance, or for any other reason whatsoever, and the Agent repays all or part of said amount by reason of any judgment, decree or order of any court or administrative body having jurisdiction over the Agent or any of its
property, or by reason of any settlement or compromise of any such claim effected by the Agent with any such claimant (including without limitation the any other Borrower), then and in any such event, each Borrower agrees that any such judgment,
decree, order, settlement and compromise shall be binding upon such Borrower, notwithstanding any revocation or release of this Agreement or the cancellation of any note or other instrument evidencing any of the Secured Obligations, or any release
of any of the Secured Obligations, and each Borrower shall be and remain liable to the Agent and the Lenders under this Agreement for the amount so repaid or recovered, to the same extent as if such amount had never originally been received by the
Agent or any Lender, and the provisions of this sentence shall survive, and continue in effect, notwithstanding any revocation or release of this Agreement. Each Borrower hereby expressly and unconditionally waives all rights of subrogation,
reimbursement and indemnity of every kind against any other Borrower, and all rights of recourse to any assets or property of any other Borrower, and all rights to any collateral or security held for the payment and performance of any Secured
Obligations, including (but not limited to) any of the foregoing rights which Borrower may have under any present or future document or agreement with any other Borrower or other person, and including (but not limited to) any of the foregoing rights
which any Borrower may have under any equitable doctrine of subrogation, implied contract, or unjust enrichment, or any other equitable or legal doctrine. 

(c) Consents. Each Borrower hereby consents and agrees that, without notice to or by Borrower and without affecting or
impairing in any way the obligations or liability of Borrower hereunder, the Agent may, from time to time before or after revocation of this Agreement, do any one or more of the following in its sole and absolute discretion: (i) accept partial
payments of, compromise or settle, renew, extend the time for the payment, 

 
discharge, or performance of, refuse to enforce, and release all or any parties to, any or all of the Secured Obligations; (ii) grant any other indulgence to any Borrower or any other Person
in respect of any or all of the Secured Obligations or any other matter; (iii) accept, release, waive, surrender, enforce, exchange, modify, impair, or extend the time for the performance, discharge, or payment of, any and all property of any
kind securing any or all of the Secured Obligations or any guaranty of any or all of the Secured Obligations, or on which the Agent at any time may have a Lien, or refuse to enforce its rights or make any compromise or settlement or agreement
therefor in respect of any or all of such property; (iv) substitute or add, or take any action or omit to take any action which results in the release of, any one or more other Borrowers or any endorsers or guarantors of all or any part of the
Secured Obligations, including, without limitation one or more parties to this Agreement, regardless of any destruction or impairment of any right of contribution or other right of Borrower; (v) apply any sums received from any other Borrower,
any guarantor, endorser, or co-signer, or from the disposition of any Collateral or security, to any Indebtedness whatsoever owing from such person or secured by such Collateral or security, in such manner and order as the Agent determines in its
sole discretion, and regardless of whether such Indebtedness is part of the Secured Obligations, is secured, or is due and payable. Each Borrower consents and agrees that the Agent shall be under no obligation to marshal any assets in favor of
Borrower, or against or in payment of any or all of the Secured Obligations. Each Borrower further consents and agrees that the Agent shall have no duties or responsibilities whatsoever with respect to any property securing any or all of the Secured
Obligations. Without limiting the generality of the foregoing, the Agent shall have no obligation to monitor, verify, audit, examine, or obtain or maintain any insurance with respect to, any property securing any or all of the Secured Obligations.

 (d) Independent Liability. Each Borrower hereby agrees that one or more successive or concurrent actions may be brought
hereon against such Borrower, in the same action in which any other Borrower may be sued or in separate actions, as often as deemed advisable by Agent. Each Borrower is fully aware of the financial condition of each other Borrower and is executing
and delivering this Agreement based solely upon its own independent investigation of all matters pertinent hereto, and such Borrower is not relying in any manner upon any representation or statement of the Agent or any Lender with respect thereto.
Each Borrower represents and warrants that it is in a position to obtain, and each Borrower hereby assumes full responsibility for obtaining, any additional information concerning any other Borrower’s financial condition and any other matter
pertinent hereto as such Borrower may desire, and such Borrower is not relying upon or expecting the Agent to furnish to it any information now or hereafter in the Agent’s possession concerning the same or any other matter. 

(e) Subordination. All Indebtedness of a Borrower now or hereafter arising held by another Borrower is subordinated to the
Secured Obligations and the Borrower holding the Indebtedness shall take all actions reasonably requested by Agent to effect, to enforce and to give notice of such subordination. 

(SIGNATURES TO FOLLOW) 

 IN WITNESS WHEREOF, Borrower, Agent and Lender have duly executed and delivered this Loan and
Security Agreement as of the day and year first above written. 
  

			
	BORROWER:
	
	Aquantia Corp.
		
	Signature:	 	 /s/ Faraj Aalaei

		
	Print Name:	 	 Faraj Aalaei

		
	Title:	 	 Chief Executive Officer

 Accepted in Palo Alto, California: 

 

			
	AGENT:
	
	HERCULES TECHNOLOGY GROWTH CAPITAL, INC.
		
	Signature:	 	 /s/ Michael L. Butler

		
	Print Name:	 	 Michael L. Butler

		
	Title:	 	 General Counsel

	
	LENDER:
	
	HERCULES TECHNOLOGY GROWTH CAPITAL, INC.
		
	Signature:	 	 /s/ Michael L. Butler

		
	Print Name:	 	 Michael L. Butler

		
	Title:	 	 General Counsel

 Table of Exhibits and Schedules 
  

			
	Exhibit A:	  	Advance Request
		  	Attachment to Advance Request
		
	Exhibit B:	  	Revolving Note
		
	Exhibit C:	  	Name, Locations, and Other Information for Borrower
		
	Exhibit D:	  	Borrower’s Patents, Trademarks, Copyrights and Licenses
		
	Exhibit E:	  	Borrower’s Deposit Accounts and Investment Accounts
		
	Exhibit F:	  	Compliance Certificate
		
	Exhibit G:	  	Joinder Agreement
		
	Exhibit H:	  	Borrowing Base Certificate
		
	Exhibit I:	  	ACH Debit Authorization Agreement
		
	Exhibit J:	  	Form of Purchase Order
		
	Schedule 1	  	Subsidiaries
	Schedule 1.1	  	Commitments
	Schedule 1A	  	Existing Permitted Indebtedness
	Schedule 1B	  	Existing Permitted Investments
	Schedule 1C	  	Existing Permitted Liens
	Schedule 1D	  	Eligible Customers and Contract Manufacturers
	Schedule 5.3	  	Consents, Etc.
	Schedule 5.5	  	Actions Before Governmental Authorities
	Schedule 5.8	  	Tax Matters
	Schedule 5.9	  	Intellectual Property Claims
	Schedule 5.10	  	Intellectual Property
	Schedule 5.11	  	Borrower Products
	Schedule 5.13	  	Employee Loans
	Schedule 5.14	  	Capitalization

 EXHIBIT A 

ADVANCE REQUEST 
  

							
	To:	  	Agent:	  	Date:	  	                , 20[    ]
				
		  	 Hercules Technology Growth Capital, Inc. (the “Agent”)

400 Hamilton Avenue, Suite 310
 Palo Alto, CA 94301

Facsimile: 650-473-9194
 Attn:
	  		  	

 Aquantia Corp. (“Borrower”) hereby requests from Hercules Technology Growth Capital, Inc. (“Lender”) an
Advance of a [DESCRIBE LOAN TYPE] in the amount of                      Dollars
($            ) on                  ,          (the
“Advance Date”) pursuant to the Loan and Security Agreement among Borrower, Agent and Lender dated as of January [    ], 2015 (as amended, restated, or otherwise modified from time to time, the “Agreement”).
Capitalized words and other terms used but not otherwise defined herein are used with the same meanings as defined in the Agreement. 
 Please: 

 

									
		 	(a)	    	Issue a check payable to Borrower	 	  
	  	
					
		 		    	 or
	 		  	
					
		 	(b)	    	Wire Funds to Borrower’s account	 	  
	  	

  

					
	 Bank:	 	  
	 	
	 Address:	 	  
	 	
	 ABA Number:	 	  
	 	
	 Account Number:	 	  
	 	
	 Account Name:	 	  
	 	

 Borrower represents that the conditions precedent to the Advance set forth in the Agreement are
satisfied and shall be satisfied upon the making of such Advance, including but not limited to: (i) that no event that has had or could reasonably be expected to have a Material Adverse Effect has occurred and is continuing; (ii) that the
representations and warranties set forth in the Agreement and in the Warrant are and shall be true and correct in all material respects on and as of the Advance Date with the same effect as though made on and as of such date, except to the extent
such representations and warranties expressly relate to an earlier date; (iii) that Borrower is in compliance with all the terms and provisions set forth in each Loan Document on its part to be observed or performed; and (iv) that as of
the Advance Date, no fact or condition exists that would (or would, with the passage of time, the giving of notice, or both) constitute an Event of Default under the Loan Documents. Borrower understands and acknowledges that Agent has the right to
review the financial information supporting this representation and, based upon such review in its reasonable business judgment, Lender may decline to fund the requested Advance. 

 Borrower hereby represents that Borrower’s corporate status and locations have not changed
since the date of the Agreement or, if the Attachment to this Advance Request is completed, are as set forth in the Attachment to this Advance Request. 

Borrower agrees to notify Agent promptly before the funding of the Loan if any of the matters which have been represented above shall not be
true and correct on the Advance Date and if Agent has received no such notice before the Advance Date then the statements set forth above shall be deemed to have been made and shall be deemed to be true and correct as of the Advance Date. 

Executed as of [                ],
20[    ]. 
  

			
	BORROWER:
	AQUANTIA CORP.
		
	SIGNATURE:	 	  

	TITLE:	 	  

	PRINT NAME:	 	  

 ATTACHMENT TO ADVANCE REQUEST 

Dated:                      

Borrower hereby represents and warrants to Agent that Borrower’s current name and organizational status is as follows: 

 

			
	Name:	  	Aquantia Corp.
		
	Type of organization:	  	Corporation
		
	State of organization:	  	Delaware
		
	Organization file number:	  	

 Borrower hereby represents and warrants to Agent that the street addresses, cities, states and postal codes of its current
locations are as follows: 

 EXHIBIT B 

SECURED REVOLVING PROMISSORY NOTE 
  

			
	$    ,000,000	  	Advance Date:                  , 20[    ]
		
		  	Maturity Date: [                ], 20[    ]

 FOR VALUE RECEIVED, Aquantia Corp., a Delaware corporation, for itself and each of its Domestic Subsidiaries
(the “Borrower”) hereby promises to pay to the order of Hercules Technology Growth Capital, Inc., a Maryland corporation or the holder of this Note (the “Lender”) at 400 Hamilton Avenue, Suite 310, Palo Alto, CA 94301 or such
other place of payment as the holder of this Secured Revolving Promissory Note (this “Promissory Note”) may specify from time to time in writing, in lawful money of the United States of America, the principal amount of
[                    ] Dollars ($[    ],000,000) or such other principal amount as Lender has advanced to Borrower, together with
interest at a floating rate equal to the Revolving Interest Rate (as defined in the Loan Agreement) per annum based upon a year consisting of 360 days, with interest computed daily based on the actual number of days in each month. 

This Promissory Note is the Note referred to in, and is executed and delivered in connection with, that certain Loan and Security Agreement
dated January 30, 2015, by and among Borrower, Hercules Technology Growth Capital, Inc., a Maryland corporation (the “Agent”) and the several banks and other financial institutions or entities from time to time party thereto as lender
(as the same may from time to time be amended, modified or supplemented in accordance with its terms, the “Loan Agreement”), and is entitled to the benefit and security of the Loan Agreement and the other Loan Documents (as defined in the
Loan Agreement), to which reference is made for a statement of all of the terms and conditions thereof. All payments shall be made in accordance with the Loan Agreement. All terms defined in the Loan Agreement shall have the same definitions when
used herein, unless otherwise defined herein. An Event of Default under the Loan Agreement shall constitute a default under this Promissory Note. 

Borrower waives presentment and demand for payment, notice of dishonor, protest and notice of protest under the UCC or any applicable law.
Borrower agrees to make all payments under this Promissory Note without setoff, recoupment or deduction and regardless of any counterclaim or defense. This Promissory Note has been negotiated and delivered to Lender and is payable in the State of
California. This Promissory Note shall be governed by and construed and enforced in accordance with, the laws of the State of California, excluding any conflicts of law rules or principles that would cause the application of the laws of any other
jurisdiction. 
  

					
	BORROWER:	 		 	AQUANTIA CORP.
			
		 		 	By:
		 		 	Title:

 EXHIBIT C 

NAME, LOCATIONS, AND OTHER INFORMATION FOR BORROWER 

1. Borrower represents and warrants to Agent that Borrower’s current name and organizational status as of the Closing Date is as follows:

  

			
	Name:	  	Aquantia Corp.
		
	Type of organization:	  	Corporation
		
	State of organization:	  	Delaware
		
	Organization file number:	  	

 2. Borrower represents and warrants to Agent that for five (5) years prior to the Closing Date, Borrower
did not do business under any other name or organization or form except the following: 
 Name: N/A 

Used during dates of: N/A 
 Type
of Organization: N/A 
 State of organization: N/A 

Organization file Number: N/A 

Borrower’s fiscal year ends on December 31 

Borrower’s federal employer tax identification number is: 

3. Borrower represents and warrants to Agent that its chief executive office is located at 700 Tasman Drive, Milpitas CA 95035, USA. 

 EXHIBIT D 

BORROWER’S PATENTS, TRADEMARKS, COPYRIGHTS AND LICENSES 

ISSUED PATENTS 
  

											
	 PPG No.
	  	 Patent No.
	  	 Issue Date
	  	 Country
	  	 Title
	  	 Inventor(s)

	AQUA.P102C1	  	8,284,007	  	09-Oct-2012	  	United States of
America	  	MAGNETIC PACKAGE FOR A COMMUNICATION SYSTEM	  	Langner, Paul; Farjadrad, Ramin; Shirani, Ramin; Martinson, Jerry; Gandy, Thomas Wayne
	AQUA.P103C1	  	8,625,704	  	Jan-7-2014	  	United States of
America	  	REJECTING RF INTERFERENCE IN COMMUNICATION SYSTEMS	  	Sedarat, Hossein; Farjadrad, Ramin; Shirani, Ramin
	AQUA.P105C1	  	8,320,411	  	27-Nov-2012	  	United States of
America	  	FAST RETRAINING FOR TRANSCEIVERS IN COMMUNICATION SYSTEMS	  	Sedarat, Hossein; Langner, Paul; Shirani, Ramin; Farjadrad, Ramin
	AQUA.P106CIP1	  	8,442,099	  	14-May-2013	  	United States of
America	  	CROSSTALK CANCELLATION FOR A COMMON-MODE CHANNEL	  	Sedarat, Hossein
	AQUA.P108C1	  	8,854,986	  	10/7/2014	  	United States of
America	  	ENERGY EFFICIENT ETHERNET (EEE) WITH 10GBASE-T STRUCTURES	  	Paul Langner, Hossein Sedarat
	AQUA.P108C2	  	8,675,504	  	3/18/2014	  	United States of
America	  	ENERGY EFFICIENT ETHERNET (EEE) WITH 10GBASE-T STRUCTURES	  	Paul Langner, Hossein Sedarat
	AQUA.P109	  	8,611,451	  	17-Dec-2013	  	United States of
America	  	PRECODER COEFFICIENT OPTIMIZATION METHOD AND APPARATUS FOR COMMUNICATIONS SYSTEMS	  	Sedarat, Hossein
	AQUA.P110	  	8,659,986	  	25-Feb-14	  	United States of
America	  	CROSSTALK CANCELLATION FOR A MULTIPORT ETHERNET SYSTEM	  	Jerold Martinson, PaulLangner, Hossein Sedarat
	AQUA.P114	  	6,794,946	  	21-Sep-2004	  	United States of
America	  	FREQUENCY ACQUISITION FOR DATA RECOVERY LOOPS	  	Farjadrad, Ramin
	AQUA.P115	  	7,167,517	  	23-Jan-2007	  	United States of
America	  	ANALOG N-TAP FIR RECEIVER EQUALIZER	  	Farjadrad, Ramin; Lee, Thomas H.
	AQUA.P116	  	7,333,578	  	19-Feb-2008	  	United States of
America	  	LINEAR DATA RECOVERY PHASE DETECTOR	  	Farjadrad, Ramin; Horowitz, Mark
	AQUA.P117	  	7,221,196	  	22-May-2007	  	United States of
America	  	LOW-POWER LOW-VOLTAGE MULTI-LEVEL VARIABLE-RESISTOR LINE DRIVER	  	Shirani, Ramin
	AQUA.P117CIP1	  	7,528,629	  	05-May-2009	  	United States of
America	  	LOW-POWER LOW-VOLTAGE MULTI-LEVEL VARIABLE-RESISTOR LINE DRIVER	  	Farjadrad, Ramin; Shirani, Ramin
	AQUA.P117CIP2	  	7,532,048	  	12-May-2009	  	United States of
America	  	MULTI-LEVEL VARIABLE-RESISTOR LINE DRIVER	  	Shirani, Ramin; Farjadrad, Ramin
	AQUA.P118	  	7,583,724	  	01-Sep-2009	  	United States of
America	  	LOW-POWER MIXED-MODE ECHO/CROSSTALK CANCELLATION IN WIRELINE COMMUNICATIONS	  	Shirani, Ramin
	AQUA.P120	  	7,739,558	  	15-Jun-2010	  	United States of
America	  	METHOD AND APPARATUS FOR RECTIFYING ERRORS IN THE PRESENCE OF KNOWN TRAPPING SETS IN ITERATIVE DECODERS AND EXPEDITED BIT ERROR RATE TESTING	  	Farjadrad, Ramin; Shirani, Ramin
	AQUA.P124	  	8,279,783	  	02-Oct-2012	  	United States of
America	  	LINEAR-EQUIVALENT ECHO AND NEXT CANCELLERS FOR TOMLINSON-HARASHIMA PRECODING (THP) SYSTEMS	  	Bates, Stephen; Sedarat, Hossein
	AQUA.P125	  	7,589,567	  	15-Sep-2009	  	United States of
America	  	COMPENSATION TECHNIQUE FOR CURRENT SOURCE CHANNEL- LENGTH MODULATION	  	Farjadrad, Ramin
	AQUA.P127	  	7,818,649	  	19-Oct-2010	  	United States of
America	  	EFFICIENT MESSAGE PASSING SCHEME OF ITERATIVE ERROR CORRECTING DECODERS	  	Farjadrad, Ramin; Benyamin, Saied
	AQUA.P128	  	7,706,434	  	27-Apr-2010	  	United States of
America	  	METHOD AND APPARATUS FOR CANCELLING INTERFERENCE IN A COMMUNICATION SYSTEM	  	Farjadrad, Ramin; Behtash, Saman
	AQUA.P129	  	7,577,891	  	18-Aug-2009	  	United States of
America	  	METHOD AND APPARATUS FOR EXTENDING DECODING TIME IN AN ITERATIVE DECODER USING INPUT CODEWORD PIPELINING	  	Farjadrad, Ramin; Shirani, Ramin
	AQUA.P130	  	7,663,412	  	16-Feb-2010	  	United States of
America	  	METHOD AND APPARATUS FOR PROVIDING LEAKAGE CURRENT COMPENSATION IN ELECTRICAL CIRCUITS	  	Farjadrad, Ramin
	AQUA.P131	  	7,669,106	  	23-Feb-2010	  	United States of
America	  	OPTIMIZATION OF LOW DENSITY PARITY CHECK (LDPC) BUILDING BLOCKS USING MULTI-INPUT GILBERT CELLS	  	Farjadrad, Ramin
	AQUA.P132	  	7,805,642	  	28-Sep-2010	  	United States of
America	  	LOW POWER ITERATIVE DECODER USING INPUT DATA PIPELINING AND VOLTAGE SCALING	  	Farjadrad, Ramin
	AQUA.P133	  	7,797,613	  	14-Sep-2010	  	United States of
America	  	DIGITAL IMPLEMENTATION OF AN ENHANCED MINSUM ALGORITHM FOR ERROR CORRECTION IN DATA COMMUNICATIONS	  	Farjadrad, Ramin; Shirani, Ramin
	AQUA.P136C1	  	8,234,536	  	31-Jul-2012	  	United States of
America	  	ITERATIVE DECODER USING INPUT DATA PIPELINING AND TIME- INTERLEAVED PROCESSING	  	Farjadrad, Ramin; Shirani, Ramin
	AQUA.P137C1	  	8,281,210	  	02-Oct-2012	  	United States of
America	  	OPTIMIZED CORRECTION FACTOR FOR LOW-POWER MIN-SUM LOW DENSITY PARITY CHECK DECODER (LDPC)	  	Shirani, Ramin; Farjadrad, Ramin
	AQUA.P141	  	7,675,450	  	09-Mar-2010	  	United States of
America	  	DIGITAL-TO-ANALOG CONVERTER (DAC) FOR HIGH FREQUENCY AND HIGH RESOLUTION ENVIRONMENTS	  	Tabatabaie, Ali; Farjadrad, Ramin
	AQUA.P146	  	8,020,070	  	13-Sep-2011	  	United States of
America	  	TRAPPING SET DECODING FOR TRANSMISSION FRAMES	  	Langner, Paul; Shirani, Ramin
	AQUA.P146CIP1	  	8,196,016	  	05-Jun-2012	  	United States of
America	  	TRAPPING SET DECODING FOR TRANSMISSION FRAMES	  	Langner, Paul; Shirani, Ramin
	AQUA.P147	  	8,098,768	  	17-Jan-2012	  	United States of
America	  	COMPENSATION OF ETHERNET TRANSMIT BASELINE WANDER	  	Langner, Paul; Sedarat, Hossein; Gandy, Thomas Wayne

													
	AQUA.P148C1	  	 	8,156,359	  	  	10-Apr-2012	  	United States of
America	  	LOW-POWER IDLE MODE FOR NETWORK TRANSCEIVER	  	Sedarat, Hossein; Barkan, Ozdal; Woodruff, William
	AQUA.P149	  	 	8,724,678	  	  	5/19/2014	  	United States of
America	  	ELECTROMAGNETIC INTERFERENCE REDUCTION IN WIRELINE APPLICATIONS USING DIFFERENTIAL SIGNAL COMPENSATION	  	Ramin Farjadrad, MichaelBrown
	AQUA.P149CIP1	  	 	8,891,595	  	  	11/18/2014	  	United States of
America	  	ELECTROMAGNETIC INTERFERENCE REDUCTION IN WIRELINE APPLICATIONS USING DIFFERENTIAL SIGNAL COMPENSATION	  	Ramin Farjadrad, MichaelBrown
	AQUA.P150	  	 	8,891,383	  	  	11/18/2014	  	United States of
America	  	HIGH-SPEED ETHERNET TRANSCEIVER CALIBRATION WITH ECHO CANCELLER REUSE	  	FadiSaibi, Hossein Sedarat, Ramin Farjadrad
	AQUA.P161C1	  	 	8,861,663	  	  	10/14/2014	  	United States of
America	  	CORRELATED NOISE CANCELLER FOR HIGH-SPEED ETHERNET RECEIVERS	  	Hossein Sedarat
	AQUA.P178	  	 	7,227,883	  	  	05-Jun-2007	  	United States of
America	  	METHOD AND APPARATUS FOR DOMAIN TRANSFORMATION MULTIPLE SIGNAL PROCESSING	  	Tellado, Jose; Kasturia, Sanjay; Cohen, Eran
	AQUA.P178C1	  	 	7,362,791	  	  	22-Apr-2008	  	United States of
America	  	METHOD AND APPARATUS FOR DOMAIN TRANSFORMATION MULTIPLE SIGNAL PROCESSING	  	Tellado, Jose; Kasturia, Sanjay; Cohen, Eran
	AQUA.P178CIP1	  	 	7,366,231	  	  	29-Apr-2008	  	United States of
America	  	METHOD AND APPARATUS FOR DOMAIN TRANSFORMATION MULTIPLE SIGNAL PROCESSING	  	Tellado, Jose; Kasturia, Sanjay; Cohen, Eran
	AQUA.P178CIP1 CN	  	 	0580018010	  	  	26-May-2010	  	China (Peoples
Republic)	  	SUB-BLOCK DOMAIN TRANSFORMATION MULTIPLE SIGNAL PROCESSING	  	Tellado, Jose; Kasturia, Sanjay; Cohen, Eran
	AQUA.P178CIP1J P	  	 	4796051	  	  	05-Aug-2011	  	Japan	  	SUB-BLOCK DOMAIN TRANSFORMATION MULTIPLE SIGNAL PROCESSING	  	Tellado, Jose; Kasturia, Sanjay; Cohen, Eran
	AQUA.P178CIP1 TW	  	 	I360305	  	  	11-Mar-2012	  	Taiwan	  	SUB-BLOCK DOMAIN TRANSFORMATION MULTIPLE SIGNAL PR	  	Tellado, Jose; Kasturia, Sanjay; Cohen, Eran
	AQUA.P178TW	  	 	1377814	  	  	21-Nov-2012	  	Taiwan	  	A METHOD AND APPARATUS FOR DOMAIN TRANSFORMATION MULTIPLE SIGNAL PROCESSING	  	Tellado, Jose; Kasturia, Sanjay; Cohen, Eran
	AQUA.P180	  	 	7,466,746	  	  	16-Dec-2008	  	United States of
America	  	SINGLE AMPLIFIER PRESAMPLE PROCESSING CIRCUITRY	  	Gupta, Sandeep Kumar
	AQUA.P180TW	  	 	I338464	  	  	01-Mar-2011	  	Taiwan	  	SINGLE AMPLIFIER PRESAMPLE PROCESSING CIRCUITRY	  	Gupta, Sandeep Kumar
	AQUA.P181	  	 	7,747,923	  	  	29-Jun-2010	  	United States of
America	  	LOW-POWER RECEIVER DECODING	  	Dabiri, Dariush; Tellado, Jose
	AQUA.P181TW	  	 	1371929	  	  	01-Sep-2012	  	Taiwan	  	METHOD OF A TRANSCEIVER DECODING AN ETHERNET SIGNAL AND ETHERNET SYSTEM	  	Dabiri, Dariush; Tellado, Jose
	AQUA.P183	  	 	7,461,328	  	  	02-Dec-2008	  	United States of
America	  	EFFICIENT DECODING	  	Dabiri, Dariush; Barot, Nitin
	AQUA.P183CIP1	  	 	7,634,710	  	  	15-Dec-2009	  	United States of
America	  	EFFICIENT DECODING	  	Dabiri, Dariush; Barot, Nitin
	AQUA.P183CIP1 D1	  	 	8,234,550	  	  	31-Jul-2012	  	United States of
America	  	EFFICIENT DECODING	  	Dabiri, Dariush; Barot, Nitin
	AQUA.P184	  	 	7,720,015	  	  	18-May-2010	  	United States of
America	  	RECEIVER ADC CLOCK DELAY BASED ON ECHO SIGNALS	  	Gupta, Sandeep Kumar
	AQUA.P184TW	  	 	1323983	  	  	21-Apr-2010	  	Taiwan	  	RECEIVER ADC CLOCK DELAY BASED ON ECHO SIGNALS	  	Gupta, Sandeep Kumar
	AQUA.P185	  	 	7,782,852	  	  	24-Aug-2010	  	United States of
America	  	MULTIPLE MODULATION RATE 10GBASE-T TRANSMISSION	  	Tellado, Jose; Kasturia, Sanjay
	AQUA.P185TW	  	 	I337020	  	  	01-Feb-2011	  	Taiwan	  	MULTIPLE MODULATION RATE 10GBASE-T TRANSMISSION	  	Tellado, Jose; Kasturia, Sanjay
	AQUA.P186	  	 	7,646,699	  	  	12-Jan-2010	  	United States of
America	  	TRANSCEIVER POWER BACKOFF	  	Tellado, Jose; Kasturia, Sanjay
	AQUA.P186TW	  	 	I326176	  	  	11-Jun-2010	  	Taiwan	  	TRANSCEIVER POWER BACKOFF	  	Tellado, Jose; Kasturia, Sanjay
	AQUA.P189	  	 	8,279,912	  	  	02-Oct-2012	  	United States of
America	  	TRANCEIVER NON-LINEARITY CANCELLATION	  	Dabiri, Dariush; Tellado, Jose; Gupta, Sandeep Kumar
	AQUA.P189TW	  	 	I351199	  	  	21-Oct-2011	  	Taiwan	  	TRANSCEIVER NON-LINEARITY CANCELLATION	  	Dabiri, Dariush; Tellado, Jose; Gupta, Sandeep Kumar
	AQUA.P190	  	 	7,860,020	  	  	28-Dec-2010	  	United States of
America	  	MASTER/SLAVE TRANSCEIVER POWER BACK-OFF	  	Taich, Dimitry; Tellado, Jose
	AQUA.P190C1	  	 	8,520,562	  	  	27-Aug-2013	  	United States of
America	  	MASTER/SLAVE TRANSCEIVER POWER BACK-OFF	  	Taich, Dimitry; Tellado, Jose
	AQUA.P190C2	  	 	8,804,582	  	  	8/12/2014	  	United States of
America	  	MASTER/SLAVE TRANSCEIVER POWER BACK-OFF	  	Dimitry Taich, Jose Tellado
	AQUA.P191	  	 	7,782,929	  	  	24-Aug-2010	  	United States of
America	  	MULTIPLE TRANSMISSION PROTOCOL TRANSCEIVER	  	Taich, Dimitry; Tellado, Jose
	AQUA.P191TW	  	 	I355150	  	  	21-Dec-2011	  	Taiwan	  	MULTIPLE TRANSMISSION PROTOCOL TRANSCEIVER	  	Taich, Dimitry; Tellado, Jose
	AQUA.P192	  	 	7,729,464	  	  	01-Jun-2010	  	United States of
America	  	AIDING SYNCHRONIZATION BETWEEN MASTER AND SLAVE TRANSCEIVERS	  	Taich, Dimitry; Tellado, Jose
	AQUA.P193	  	 	7,957,456	  	  	07-Jun-2011	  	United States of
America	  	SELECTION OF FILTER COEFFICIENTS FOR TRANCEIVER NON- LINEARITY SIGNAL CANCELLATION	  	Dabiri, Dariush; Tellado, Jose
	AQUA.P193TW	  	 	1368392	  	  	11-Jul-2012	  	Taiwan	  	SELECTION OF FILTER COEFFICIENTS FOR TRANSCEIVER NON-LINEARITY SIGNAL CANCELLATION	  	
	AQUA.P194	  	 	8,416,719	  	  	09-Apr-2013	  	United States of
America	  	GENERATING AN ESTIMATED NON-LINEAR ECHO SIGNAL	  	Dabiri, Dariush
	AQUA.P195	  	 	7,881,330	  	  	01-Feb-2011	  	United States of
America	  	CONTROLLING ACTIVATION OF ELECTRONIC CIRCUITRY OF DATA PORTS OF A COMMUNICATION SYSTEM	  	Taich, Dimitry; Tellado, Jose
	AQUA.P195C1	  	 	8,885,662	  	  	11-Nov-2014	  	United States of
America	  	CONTROLLING ACTIVATION OF ELECTRONIC CIRCUITRY OF DATA PORTS OF A COMMUNICATION SYSTEM	  	Taich, Dimitry; Tellado, Jose
	AQUA.P196	  	 	8,321,708	  	  	27-Nov-2012	  	United States of
America	  	INTERFACING MEDIA ACCESS CONTROL (MAC) WITH A LOW-POWER PHYSICAL LAYER (PHY) CONTROL	  	Dring, John; Tellado, Jose; Taich, Dimitry
	AQUA.P197	  	 	8,295,214	  	  	23-Oct-2012	  	United States of
America	  	REDUCING TRANSMIT SIGNAL COMPONENTS OF A RECEIVE SIGNAL OF A TRANSCEIVER	  	Chandra, Gaurav; Malkin, Moshe; Dabiri, Dariush
	AQUA.P199	  	 	8,792,597	  	  	7/29/2014	  	United States of
America	  	REDUCING ELECTROMAGNETIC INTERFERENCE IN A RECEIVE SIGNAL WITH AN ANALOG CORRECTION SIGNAL	  	Mosche Malkin, Jose Tellado
	AQUA200	  	 	8,254,490	  	  	28-Aug-2012	  	United States of
America	  	REDUCING TRANSMIT SIGNAL COMPONENTS OF A RECEIVE SIGNAL OF A TRANSCEIVER USING A SHARED DAC ARCHITECTURE	  	Chandra, Gaurav
	AQUA201	  	 	8,804,793	  	  	12-Aug-2014	  	United States of
America	  	METHOD AND APPARATUS FOR FAST LINK RECOVERY	  	Wu, Jiangfeng; Tellado, Jose; Dring, John; Ferdosi, Nima
	AQUA203	  	 	8,804,794	  	  	12-Aug-2014	  	United States of
America	  	ADJUSTABLE LATENCY TRANSCEIVER PROCESSING	  	Malkin, Moshe; Tellado, Jose; McCarthy, Frank
	AQUA204	  	 	8,804,798	  	  	12-Aug-2014	  	United States of
America	  	TRANSCEIVER SPECTRUM CONTROL FOR CROSS-TALK MITIGATION	  	Malkin, Moshe; Tellado, Jose

 PENDING PATENT APPLICATIONS 
  

							
	 PPG No.
	  	 App. No.
	 	 Filing Date
	  	 Country

	AQUA.P103C2	  	13/965,635	 	8/13/2013	  	United States of America
	AQUA.P104C1	  	12/604,323	 	10/22/2009	  	United States of America
	AQUA.P106C1	  	12/563,938	 	9/21/2009	  	United States of America
	AQUA.P111	  	13/039,099	 	3/2/2011	  	United States of America
	AQUA.P163	  	13/625,820	 	9/24/2012	  	United States of America
	AQUA.P166	  	13/268,236	 	10/7/2011	  	United States of America
	AQUA.P168	  	13/346,534	 	1/9/2012	  	United States of America
	AQUA.P169	  	13/413,029	 	3/6/2012	  	United States of America
	AQUA.P174	  	13/523,826	 	6/14/2012	  	United States ofAmerica
	AQUA.P175	  	13/966,208	 	8/13/2013	  	United States of America
	AQUA.P176	  	13/671,132	 	11/7/2012	  	United States of America
	AQUA.P198	  	12/789,728	 	5/28/2010	  	United States of America
	AQUA.P205	  	13/398,748	 	2/16/2012	  	United States of America
	AQUA.P209	  	14/030,317	 	9/18/2013	  	United States of America
	AQUA.P210	  	14/459,260	 	8/13/2014	  	United States of America
	AQUA.P211	  	14/180,082	 	2/13/2014	  	United States of America

 EXPIRED MATTERS 
  

									
	 PPG No.
	  	 App. No.
	  	 Filing Date
	  	 Country
	  	 Title

	AQUA.P102P	  	61/173,394	  	4/28/2009	  	United States of America	  	MAGNETIC PACKAGE FOR A COMMUNICATION SYSTEM
	AQUA.P103P	  	61/153,440	  	2/18/2009	  	United States of America	  	REJECTING RF INTERFERENCE IN COMMUNICATION SYSTEMS
	AQUA.P104P	  	61/141,640	  	12/30/2008	  	United States of America	  	A COMMON MODE DETECTOR FOR A COMMUNICATION SYSTEM
	AQUA.P104P1	  	61/141,639	  	12/30/2008	  	United States of America	  	A COMMON MODE DETECTOR FOR A COMMUNICATION SYSTEM
	AQUA.P105P	  	61/148,112	  	1/29/2009	  	United States of America	  	FAST RETRAINING FOR TRANSCEIVERS IN COMMUNICATION SYSTEMS
	AQUA.P106P	  	61/099,979	  		  	United States of America	  	INTERFERENCE CANCELLATION IN 10GBASE-T AND OTHER MULTI CHANNEL COMMUNICATION SYSTEMS
	AQUA.P109P	  	61/453,215	  	3/16/2011	  	United States of America	  	PRECODER COEFFICIENT OPTIMIZATION METHOD AND APPARATUS FOR COMMUNICATIONS SYSTEMS
	AQUA.P111P	  	61/310,096	  		  	United States of America	  	CRC-8 FRAME CORRECTION
	AQUA.P120P	  	60/692,897	  	6/22/2005	  	United States of America	  	APPLICATION OF NOISE BIASING TOWARD EXPEDITED BIT ERROR RATE TESTING
	AQUA.P121P	  	60/680,913	  		  	United States of America	  	OPTIMIZATION OF LDPC BUILDING BLOCKS USING ALTERNATING MIRRORED GILBERT CELLS
	AQUA.P122P	  	60/680,906	  		  	United States of America	  	IMPROVED INTERFERENCE CANCELLATION TECHNIQUE USING A SINGLE-VCO CDR ARCHITECTURE WITH DUAL TRACKING CAPABILITY
	AQUA.P123P	  	60/705,962	  		  	United States of America	  	OPTIMIZATION OF LDPC BUILDING BLOCKS USING ALTERNATING MIRRORED GILBERT CELLS
	AQUA.P124P	  	60/708,015	  	8/12/2005	  	United States of America	  	LINEAR-EQUIVALENT ECHO CANCELLER FOR TOMLIMSON-HARASHIMA PRECODING (THP) SYSTEMS
	AQUA.P125P	  	60/710,421	  	8/22/2005	  	United States of America	  	COMPENSATION TECHNIQUE FOR CURRENT SOURCE CHANNEL-LENGTH MODULATION
	AQUA.P126P	  	60/710,964	  		  	United States of America	  	MIXED-MODE ECHO CANCELLATION ARCHITECTURE FOR 10GBASE-T/ANALOG ECHO CANCELLATION CONSIDERATIONS
	AQUA.P127P	  	60/740,816	  	11/30/2005	  	United States of America	  	HIGH EFFICIENT MESSAGE PASSING SCHEME FOR ITERATIVE ERROR CORRECTING DECODERS
	AQUA.P128P	  	60/671,814	  	4/15/2005	  	United States of America	  	RECEIVER MIXED-SIGNAL ARCHITECTURE FOR 10GBASE-T IEEE 802.3
	AQUA.P129P	  	60/685,481	  	5/27/2005	  	United States of America	  	EXTENSION OF DECODING TIME IN ITERATIVE ERROR CORRECTING DECODERS USING INPUT CODEWORD PIPELINING
	AQUA.P129WO	  	PCT/US06/20900	  	5/26/2006	  	United States ofAmerica	  	METHOD AND APPARATUS FOR EXTENDING DECODING TIME IN AN ITERATIVE DECODER USING INPUT CODEWORD
	AQUA.P130P	  	60/689,501	  	6/10/2005	  	United States of America	  	WIDE RANGE SUBTHRESHOLD CURRENT MIRRORING
	AQUA.P131P	  	60/671,820	  	4/15/2005	  	United States of America	  	OPTIMIZATION OF LDPC BUILDING BLOCKS USING MULTI-INPUT GILBERT CELLS
	AQUA.P132P	  	60/774,906	  	2/17/2006	  	United States of America	  	LOW POWER ITERATIVE DECODER USING INPUT DATA PIPELINING AND VOLTAGE SCALING
	AQUA.P133P	  	60/776,026	  	2/22/2006	  	United States of America	  	DIGITAL IMPLEMENTATION OF AN ENHANCED MINSUM ALGORITHM FOR ERROR CORRECTION IN DATA COMMUNICATIONS
	AQUA.P136P	  	60/819,101	  	7/7/2006	  	United States of America	  	ITERATIVE DECODER USING INPUT DATA PIPELINING AND TIME INTERLEAVED PROCESSING
	AQUA.P137P	  	60/819,056	  	7/7/2006	  	United States of America	  	OPTIMIZED CORRECTION FACTOR FOR LOW POWER MIN SUM LOW DENSITY PARITY CHECK DECODER (LDPC)
	AQUA.P138P	  	60/886,619	  	1/24/2007	  	United States of America	  	DENA BOOST FILTER AND PGA
	AQUA.P139P	  	60/886,500	  	1/24/2007	  	United States of America	  	DENA BOOST FILTER AND PGA
	AQUA.P140P	  	60/888,881	  		  	United States of America	  	MAGNETICS DROOP COMPENSATION FOR 10G/1G PHYS
	AQUA.P141P	  	60/943,828	  	6/13/2007	  	United States of America	  	D/A CONVERTER
	AQUA.P142P	  	61/168,071	  		  	United States of America	  	ON-CHIP LINEAR REGULATOR WITH PULSED CONTROL
	AQUA.P143P	  	60/970,210	  		  	United States of America	  	OPTIMIZATION OF LOGIC BLOCKS FOR SPEED AND LEAKAGE USING MULTI-Vth DEVICES
	AQUA.P144P	  	61/152,237	  		  	United States ofAmerica	  	A CABLE EMULATOR INTEGRATED CIRCUIT FOR TESTING OF COMMUNICATION TRANSCEIVERS
	AQUA.P145P	  	61/168,078	  		  	United States of America	  	DIGITAL ON-CHIP LINEAR REGULATOR
	AQUA.P146P	  	60/992,457	  	12/5/2007	  	United States of America	  	TRAPPING SET DECODER FOR THE IEEE 10GBASE-T LDPC CODE
	AQUA.P147P	  	61/027,766	  	2/11/2008	  	United States of America	  	100BASE-TX ETHERNET, TRANSMIT BASELINE WANDER COMPENSATION TECHNIQUE
	AQUA.P148P	  	61/051,293	  	5/7/2008	  	United States of America	  	EXTENDED LOW-POWER IDLE (XLPI) FOR 10GBASE-T ENERGY-EFFICIENT ETHERNET
	AQUA.P149P	  	61/349,492	  	5/28/2010	  	United States of America	  	ELECTROMAGNETIC EMISSION REDUCTION IN WIRELINE APPLICATIONS USING DIFFERENTIAL SIGNAL IMBALANCING
	AQUA.P150P	  	61/359,577	  	6/29/2010	  	United States of America	  	ANALOG FRONT-END AUTOMATED CALIBRATION AND SCREENING USING ECHO CANCELLERS
	AQUA.P151P	  	61/360,606	  	7/1/2010	  	United States of America	  	VARIABLE RESISTOR VOLTAGE DRIVER WITH SELF-NOISE COMPENSATION CIRCUIT
	AQUA.P152P	  	61/224,299	  		  	United States of America	  	A LOW-VOLTAGE INDUCTIVE-COUPLED VOLTAGE DRIVER
	AQUA.P162P	  	61/435,180	  	1/21/2011	  	United States of America	  	METHODS AND APPARATUS FOR ADAPTIVE FILTERING RATE CONTROL
	AQUA.P167P	  	61/544,839	  	10/7/2011	  	United States of America	  	METHOD AND APPARATUS FOR UNIFIED DATA TRANSMISSION OF HIGH DEFINITION MEDIA INTERFACES USING HIGH SPEED ETHERNET
	AQUA.P175P1	  	61/682,694	  	8/13/2012	  	United States of America	  	SUB-RATE CODES WITHIN THE 10GBASE-T FRAME STRUCTURE
	AQUA.P178CIP1WO	  	PCT/US05/08921	  	3/18/2005	  	United States of America	  	SUB-BLOCK DOMAIN TRANSFORMATION MULTIPLE SIGNAL PROCESSING
	AQUA.P178WO	  	PCT/US04/35351	  	10/19/2004	  	United States of America	  	A METHOD AND APPARATUS FOR DOMAIN TRANSFORMATION MULTIPLE SIGNAL PROCESSING
	AQUA.P180WO	  	PCT/US06/21177	  	5/31/2006	  	United States of America	  	SINGLE AMPLIFIER PRESAMPLE PROCESSING CIRCUITRY
	AQUA.P181WO	  	PCT/US05/29597	  	8/17/2005	  	United States of America	  	LOW POWER RECEIVER DECODING
	AQUA.P183WO	  	PCT/US06/10626	  	3/23/2006	  	United States of America	  	EFFICIENT DECODING
	AQUA.P185WO	  	PCT/US06/39485	  	10/10/2006	  	United States of America	  	MULTIPLE MODULATION RATE 10GBASE-T TRANSMISSION
	AQUA.P186WO	  	PCT/US06/47241	  	12/12/2006	  	United States of America	  	TRANSCEIVER POWER BACKOFF
	AQUA.P187P1	  	60/752,729	  		  	United States of America	  	TRANSMISSION PRE-CODING
	AQUA.P188WO1	  	PCT/US07/04179	  	2/13/2007	  	United States of America	  	AUTO-SEQUENCING TRANSMISSION SPEED OF A DATA PORT
	AQUA.P191WO	  	PCT/US07/74102	  	7/23/2007	  	United States of America	  	MULTIPLE TRANSMISSION PROTOCOL TRANSCEIVER
	AQUA.P193WO	  	PCT/US08/57215	  	3/17/2008	  	United States of America	  	SELECTION OF FILTER COEFFICIENTS FOR TRANCEIVER NON-LINEARITY SIGNAL CANCELLATION
	AQUA.P201P1	  	61/364,893	  	7/16/2010	  	United States of America	  	METHOD AND APPARATUS FOR FAST LINK RECOVERY
	AQUA.P202P1	  	61/381,911	  		  	United States of America	  	FULL DUPLEX 10GBASE-T TRANSMITTER HYBRID WITH SFDR < -65DBC OVER 400MHZ IN 40NM CMOS
	AQUA.P210P2	  	61/944,829	  	2/26/2014	  	United States of America	  	HIGH-SPEED ETHERNET TRANSCEIVER WITH SUB-RATE MODES
	AQUA.P210P	  	61/865,810	  	8/14/2013	  	United States of America	  	HIGH-SPEED ETHERNET TRANSCEIVER WITH SUB-RATE MODES

 TRADEMARKS: 
  

											
	 	  	Serial Number	  	Reg. Number	  	Word Mark	  	Check Status	  	Live/Dead
						
	1	  	86387031	  		  	NBASE-T	  	TSDR	  	LIVE
						
	2	  	86261566	  		  	AQRATE ALLIANCE	  	TSDR	  	LIVE
						
	3	  	86320145	  		  	NEXTGENBASE-T	  	TSDR	  	LIVE
						
	4	  	86320137	  		  	NEXTGBASE-T	  	TSDR	  	LIVE
						
	5	  	86320125	  		  	MULTIGBASE-T	  	TSDR	  	LIVE
						
	6	  	86320110	  		  	MULTIGIGBASE-T	  	TSDR	  	LIVE
						
	7	  	86320101	  		  	NGBASE-T	  	TSDR	  	LIVE
						
	8	  	86320094	  		  	MGBASE-T	  	TSDR	  	LIVE
						
	9	  	86261411	  		  	AQRATE COMPLIANT	  	TSDR	  	LIVE
						
	10	  	86261408	  		  	AQRATE CERTIFIED	  	TSDR	  	LIVE
						
	11	  	85603923	  	4568772	  	AQRATE	  	TSDR	  	LIVE
						
	12	  	85588669	  	4467084	  	UNLEASH YOUR BANDWIDTH	  	TSDR	  	LIVE
						
	13	  	77745609	  	3728162	  	AQUANTIA	  	TSDR	  	LIVE

 MATERIAL INBOUND LICENSES: 
  

	 	1.	Mysticom Inc. Technology License Agreement 

  

	 	2.	Special Purpose License and Maintenance Agreement (“SPLA”), Software License and Maintenance Agreement (“SLMA”) and Cadence Limited License and Maintenance Agreement (“CLLA”) with
Cadence Design Systems, Inc. 

  

	 	3.	Tensilica, Inc. License Agreement 

  

	 	4.	ARM Artisan Physical IP End User License Agreement 

  

	 	5.	Synopsys, Inc. License Agreement 

  

	 	6.	Gennum Corporation (Snowbush) Core License Agreement 

  

	 	7.	Ramin Farjadrad Sublicense Agreements 

  

	 	8.	Anadec GmbH Agreement 

  

	 	9.	Taiwan Semiconductor Manufacturing Co., Ltd. Library Usage Agreement 

  

	 	10.	Posedge, Inc. IP Core License Agreement 

  

	 	11.	MorethanIP License Agreement 

  

	 	12.	PLX Technology, Inc. Patent License and Purchase Option Agreement 

  

	 	13.	Berkeley Design Automation, Inc. Software License Agreement 

  

	 	14.	Helic Agreement 

  

	 	15.	Virage Logic Corporation Master License Agreement 

	 	16.	Northwest Logic IP Core License Agreement 

  

	 	17.	VSemi Agreement 

  

	 	18.	Mentor Graphics Agreement 

  

	 	19.	Aragio Agreement 

  

	 	20.	Anadec Agreement 

  

	 	21.	Mellanox Technologies, Ltd. License Agreement 

  

	 	22.	Magma Design Automation Inc. Software License Agreement 

  

	 	23.	ICScape, Inc. License Agreement 

  

	 	24.	IC Manage Software License Agreement 

  

	 	25.	Apache Design, Inc. Software License Agreement 

 EXHIBIT E 

BORROWER’S DEPOSIT ACCOUNTS AND INVESTMENT ACCOUNTS 

Deposit Accounts 
  

							
	 Institution Name and Address
	  	 Account Number
	  	 Average Balance in Account
	  	 Name of Account
Owner

	Silicon Valley Bank	  		  		  	Aquantia Corp.
	Citibank	  		  		  	 Aquantia
  

Semiconductor India Private Limited

 Securities Accounts 
  

							
	 Institution Name and Address
	  	 Account Number
	  	 Average Balance in Account
	  	 Name of Account Owner

	SVB Asset Management	  		  		  	Aquantia Corp.

 EXHIBIT F 

COMPLIANCE CERTIFICATE 

EXHIBIT G 
 JOINDER
AGREEMENT 
 EXHIBIT H 

BORROWING BASE CERTIFICATE 

EXHIBIT I 
 ACH DEBIT
AUTHORIZATION AGREEMENT 

 EXHIBIT J 

FORM OF PURCHASE ORDER 

See Attached. 

 

 
 WebPO Print Page https://supplier.intel.com/epo/app/webPOPrint.aspx?pos=3000877105... 
Intel Confidential 
intel 
PO#: 3000877105 Type: Standard PO 
Change Order: 
Buyer: 
INTEL CORPORATION PO Type: New 
2200 Mission College Blvd. SC4.203 PO Generation Date: 03 Nov 2014 
PO Box: 58119 PO Original
Date: 03 Nov 2014 
SANTA CLARA CA 95052 
US 
VAT Reg: 
Currency: US Dollar 
Seller: Terms: 30 Days Net 
AQUANTIA CORP **Do not insure** 
700 Tasman Dr **Intel will not reimburse** 
Milpitas CA 95035-7456 
UNITED STATES Confirmed Phone: 
Confirmed Date: 
Bill To: 
INTEL COPORATION 
HILLSBORO Contact: OFSFAB West 
ATTN: ACCOUNTS PAYABLE Contact Phone: 877-811-2574 
P.O. BOX 1000 Contact Email: N/A 
HILLSBORO OR 97123 
USA 
** UNLESS NOTED IN THE LINE DETAIL PLEASE FOLLOW 
** THE FOLLOWING SHIPPING INSTRUCTIONS: 
Ship To: Intel Coproration 
17 Motzkin Street 
Tirat Hacarmel, 3902656 
ISRAEL 
Line Number Intel Number Supplier Item Number Unit Price Requested Qty U/M Requested
Line Amt 
Line Status Outstanding Qty 
00001 38.00 1000 EA 38,000.00

New 1000.0000 
Description: CPVL DP FCBGA 19x19mm EZX557-AT2 
1 of 2 11/4/2014 8:09 AM 

 

 
 WebPO Print Page https://supplier.intel.com/epo/app/webPOPrint.aspx?pos=3000877105... 
Please follow the table supplied that references specific grade unit 
requirement and
quantities. 
Contact Name: Yael Zuri 
Email: YAEL.ZURI@INTEL.COM 
Phone Number: +972 73 325 3859 
Required Date: 03 Nov 2014 Factory ID: 
Promised Date: Machine IT Location: 
Machine: 
FOB/FRT: FCA Intel Dock 
INCO terms: FCA 
Shipping Condition: 
Shipping Instruction: 
Disclaimer: Intel requires you to use Intel routing guide solely to obtain carrier and service level assignments for shipments tendered by or on behalf of you and for no other
purpose. Intel routing guide can be viewed at http://supplier.intel.com/routingGuide/app/Index.aspx 
Total Purchase Order Value: 38,000.00 
This document confirms the purchase order from Intel. Only the terms and conditions contained in this PO apply. Any additional or conflicting terms and conditions on quotations of
acknowledgement from the Seller are hereby rejected. The acceptance of items delivered hereunder by Intel shall not be acceptance of terms and conditions of the supplier. 
************************************************************ 
* INVOICE INFORMATION 
* INTEL WILL REMIT PAYMENT TO THE SUPPLIES NAME AND 
* ADDRESS LISTED BELOW WITHOUT REGARD TO
THE REMIT-TO 
* INSTRUCTIONS ON THE INVOICE. CONTACT THE INTEL 
* BUYER TO MAKE
NECESSARY CORRECTIONS 
************************************************************ 
AQUANTIA CORP 
700 Tasman Dr 
Milpitas, CA 95035-7456 
USA 
INTEL CORPORATIONS APPROVALS 
OFSFAB West 
877-811-2574 
Intel Confidential N/A 
2 of 2 11/4/2014 8:09AM 

 

 
 CISCO SYSTEMSR 
Vendor
AQUANTIA CORPORATION 
700 TASMAN DR 
MILIPTAS, CA 95035 
United States 
SHIP TO 
Cisco Systems India Private Limited 
Divyasree Chambers, Wing B 
#11, O’Shaughnessy Road Akkithimanahalli, Bangalore, 560 027 
India 
BILL TO 
Cisco Systems Inc. 
Accounts Payable 
PO Box # 696024 
San Antonio, TX 78269 
United States 
Purchase Order 
PURCHASE ORDER REVISION PAGE 
US202019418 0 1 
THIS PURCHASE ORDER NUMBER MUST APPEAR ON ALL 
DATE OF ORD 02-DEC-14 BUYE S Lin 
DATE OF REVIS BUYER 
CUSTOMER ACC 
5852536 
VENDOR NO. 
409156 
PAYMENT TERMS 
NET 30 
FREIGHT TERMS 
PREPAY&BILL 
F.O.B. 
Destination 
SHIP VIA 
CONFIRM TO / TELEPHONE 
REQUESTOR / DELIVER TO 
Jebaraj, Jebakumar Samuel 
LINE PART NUMBER / DESCRIPTION DELIVERY DATE QUANTITY UNIT UNIT PRICE EXTENSION TAX 
1 PR
201509342 VE project SakeCR (AA94HK) Q2FY15 spend Green Apple 15-102016-01 AQUANTIA B1 PHY P/N: AQR205-B1-EG-Y 02-DEC-14 2.00 EACH 60 120.00 N 
Delivery date shown
is date due on CISCO’S dock. 
Resale # SR BHA 19-718623 
Seller agrees to
comply with all applicable laws including, if appropriate. Executive Order 11246, as amended, 38 USC 2012 of the Vietnam Era Veterans Readjustment Act of 1974 and Section 503 of the Rehabilitation Act of 1973, as amended, and the regulations at 41
CFR Parts 60-1 through 60-60, 60-250, and 60-741. Total 120.00 
CONFIRMING ORDER - DO NOT DUPLICATE 
Please mark P.O. number on outside of shipping carton AUTHORIZED SIGNATUR 
CISCO 002 Rev. 5/99

 SCHEDULE 1 

SUBSIDIARIES 
  

					
	 Name
	  	 Jurisdiction
	  	 Date of Formation

			
	Aquantia Corp.	  	Delaware	  	January 27, 2004
			
	Novin IP, Inc.	  	California	  	Subsidiary due to Merger 03/19/2005
			
	Aquantia Semiconductor India Private Limited	  	India	  	September 9, 2011
			
	Aquantia Rus Limited Liability Company	  	Russia	  	December 26, 2012
			
	Aquantia B.V.	  	Netherlands	  	December 12, 2014

 SCHEDULE 1.1 

COMMITMENTS 
  

					
	 LENDER
	  	REVOLVING COMMITMENT	 
	 HERCULES TECHNOLOGY GROWTH CAPITAL, INC.
	  	$	11,500,000	  
		  	  
	  
	 
	 TOTAL COMMITMENTS
	  	$	11,500,000	  
		  	  
	  
	 

 SCHEDULE 1A 

PERMITTED INDEBTEDNESS 
  

					
	 Name of Holder of

Lien/Encumbrance
	  	 Description of Property Encumbered
	  	 Name of

Company/Subsidiary

	Faraj Aalaei ($175,000)	  	Deferred Bonus	  	Aquantia Corp.

 SCHEDULE 1B 

EXISTING PERMITTED INVESTMENTS 
  

					
	 Name
	  	 Jurisdiction
	  	 Date of Formation

			
	Aquantia Corp.	  	Delaware	  	January 27, 2004
			
	Novin IP, Inc.	  	California	  	Subsidiary due to Merger 03/19/2005
			
	Aquantia Semiconductor India Private Limited	  	India	  	September 9, 2011
			
	Aquantia Rus Limited Liability Company	  	Russia	  	December 26, 2012
			
	Aquantia B.V.	  	Netherlands	  	December 12, 2014

 SCHEDULE 1C 

EXISTING PERMITTED LIENS 
  

					
	 Name of Holder of Lien/Encumbrance
	  	 Description of Property Encumbered
	  	 Name of Company/Subsidiary

			
	Regency Tasman Holdings, LLC Deposit (Cash Deposit of $29,022.40)	  	Leased Property from the lessor	  	Aquantia Corp.
			
	India Building lease Deposit (Approx. $70,809)	  	Leased Property from the lessor	  	Aquantia Semiconductor India Private Limited
			
	Cash Deposit with SVB for LOC	  		  	Aquantia Corp.

 SCHEDULE 1D 

ELIGIBLE CUSTOMERS AND CONTRACT MANUFACTURERS 

Customers/Contract Manufacturers 
  

	 ̈	Arista Networks, Inc. 

  

	 ̈	Aruba Networks, Inc. 

  

	 ̈	ASUSTek Computer Inc. 

  

	 ̈	Brocade Communications Systems, Inc. 

  

	 ̈	Cisco Systems, Inc. 

  

	 ̈	Dell Inc. 

  

	 ̈	Hewlett-Packard Company 

  

	 ̈	IBM Corporation – The International Business Machines Corporation 

  

	 ̈	Intel Corporation 

  

	 ̈	Juniper Networks, Inc. 

  

	 ̈	Oracle Corporation 

  

	 ̈	Qualcomm Incorporated 

  

	 ̈	Accton Technology Corporation 

  

	 ̈	Flextronics MFG (H.K.) LTD 

  

	 ̈	Global Foundries 

  

	 ̈	HON HAI PRECISION INDUSTRY CO., LTD. 

	 	Foxconn	Technology Group 

  

	 ̈	Jabil Circuit, Inc. 

  

	 ̈	NANNING FUGUI PRECISION INDUSTRIAL CO., LTD. 

 SCHEDULE 5.3 

CONSENTS 
 None. 

 SCHEDULE 5.5 

ACTIONS BEFORE GOVERNMENTAL AUTHORITIES 
  

					
	 Action
	  	 Description
	  	 Name of Company/Subsidiary

			
	Assessment Appeal filed November 20, 2014	  	Santa Clara County (Property Tax) Fully accrued (2011 – 2013 Estimated at $38k if appeal lost)	  	Aquantia Corp.

 SCHEDULE 5.8 

TAX MATTERS 
  

					
	 Action
	  	 Description
	  	 Name of Company/Subsidiary

			
	Assessment Appeal filed November 20, 2014	  	Santa Clara County (Property Tax) Fully accrued (2011 – 2013 Estimated at $38k if appeal lost)	  	Aquantia Corp.

 SCHEDULE 5.9 

INTELLECTUAL PROPERTY CLAIMS 

None. 

 SCHEDULE 5.10 

INTELLECTUAL PROPERTY AND PATENTS 
 Licenses and
permits from others: (Agreements to be attached separately) 
  

	 	1.	Mysticom Inc. Technology License Agreement 

  

	 	2.	Special Purpose License and Maintenance Agreement (“SPLA”), Software License and Maintenance Agreement (“SLMA”) and Cadence Limited License and Maintenance Agreement (“CLLA”) with
Cadence Design Systems, Inc. 

  

	 	3.	Tensilica, Inc. License Agreement 

  

	 	4.	ARM Artisan Physical IP End User License Agreement 

  

	 	5.	Synopsys, Inc. License Agreement 

  

	 	6.	Gennum Corporation (Snowbush) Core License Agreement 

  

	 	7.	Ramin Farjadrad Sublicense Agreements 

  

	 	8.	Anadec GmbH Agreement 

  

	 	9.	Taiwan Semiconductor Manufacturing Co., Ltd. Library Usage Agreement 

  

	 	10.	Posedge, Inc. IP Core License Agreement 

  

	 	11.	MorethanIP License Agreement 

  

	 	12.	PLX Technology, Inc. Patent License and Purchase Option Agreement 

  

	 	13.	Berkeley Design Automation, Inc. Software License Agreement 

  

	 	14.	Helic Agreement 

  

	 	15.	Virage Logic Corporation Master License Agreement 

  

	 	16.	Northwest Logic IP Core License Agreement 

  

	 	17.	VSemi Agreement 

  

	 	18.	Mentor Graphics Agreement 

  

	 	19.	Aragio Agreement 

  

	 	20.	Anadec Agreement 

  

	 	21.	Mellanox Technologies, Ltd. License Agreement 

  

	 	22.	Magma Design Automation Inc. Software License Agreement 

  

	 	23.	ICScape, Inc. License Agreement 

  

	 	24.	IC Manage Software License Agreement 

  

	 	25.	Apache Design, Inc. Software License Agreement 

 SCHEDULE 5.11 

BORROWER PRODUCTS 
 None. 

 SCHEDULE 5.13 

EMPLOYEE LOANS 
 In connection with the exercise
of certain stock options, Faraj Aalaei issued the Company a $1,130,521.98 Secured Promissory Note, dated June 22, 2009, as amended June 22, 2011, in a principal amount equal to the purchase price of such shares. 

In connection with the exercise of certain stock options, Faraj Aalaei issued the Company a $626,028.70 Secured Promissory Note, dated February 18, 2010,
as amended June 22, 2011, in a principal amount equal to the purchase price of such shares. 
 In connection with the exercise of certain stock
options, Ramin Shirani issued the Company a $219,128.07 Secured Promissory Note, dated June 22, 2009, in a principal amount equal to the purchase price of such shares. 

In connection with the exercise of certain stock options, Ramin Shirani issued the Company a $36,300.00 Secured Promissory Note, dated March 18, 2010, in
a principal amount equal to the purchase price of such shares. 
 In connection with the exercise of certain stock options, Ramin Shirani issued the Company
a $57,099.46 Secured Promissory Note, dated November 15, 2010, in a principal amount equal to the purchase price of such shares. 

 SCHEDULE 5.14 

CAPITALIZATION 
 CAPITALIZATION
TABLE: 

 Cap Table as of December 31, 2014 
  

									
	 Name
	  	Total FD Shares	 	  	FD %	 
	Preferred Stock	  				  			
	 NEA
	  	 	33,575,147	  	  	 	14.40	% 
	 Rusnano
	  	 	28,336,859	  	  	 	12.15	% 
	 Pinnacle Ventures
	  	 	27,986,975	  	  	 	12.00	% 
	 Greylock
	  	 	20,698,117	  	  	 	8.88	% 
	 Lightspeed Venture Partners
	  	 	18,199,241	  	  	 	7.80	% 
	 Other Investors
	  	 	12,408,234	  	  	 	5.32	% 
	 NetL
	  	 	8,075,371	  	  	 	3.46	% 
	 Cisco Systems, Inc.
	  	 	6,462,714	  	  	 	2.77	% 
	 Xilinx
	  	 	5,239,516	  	  	 	2.25	% 
	 Intel Capital Corporation
	  	 	5,115,623	  	  	 	2.19	% 
	 Lip-Bu Tan
	  	 	4,821,850	  	  	 	2.07	% 
	 VTA Fund II, LP
	  	 	4,597,698	  	  	 	1.97	% 
	 Global Foundries
	  	 	2,692,321	  	  	 	1.15	% 
	Common Stock	  				  			
	 Common Stock Issued
	  	 	25,640,002	  	  	 	11.00	% 
	 Common Stock Warrants
	  	 	121,513	  	  	 	0.05	% 
			
	 Options
	  				  			
	 Outstanding Options
	  	 	26,495,816	  	  	 	11.36	% 
	 Available Pool
	  	 	2,725,838	  	  	 	1.17	% 
			
	 Total
	  	 	233,192,835	  	  	 	100	% 

 fully diluted shares 
  

									
	Current Capitalization Table	  	As of December,
2014	 	 	% Fully Diluted	 
	 Preferred Stock
	  				 			
	 Series A Preferred Stock
	  	 	18,329,516	  	 	 	7.86	% 
	 Series A Warrants
	  	 	334,998	  	 	 	0.14	% 
	 Series B Preferred Stock
	  	 	12,049,428	  	 	 	5.17	% 
	 Series B Warrants
	  	 	31,973	  	 	 	0.01	% 
	 Series C Preferred Stock
	  	 	1,000,000	  	 	 	0.43	% 
	 Series C Warrants
	  	 	3,665,238	  	 	 	1.57	% 
	 Series D Preferred Stock
	  	 	57,172,304	  	 	 	24.52	% 
	 Series D Warrants
	  	 	825,334	  	 	 	0.35	% 
	 Series E Preferred Stock
	  	 	26,438,711	  	 	 	11.34	% 
	 Series F Preferred Stock
	  	 	43,103,440	  	 	 	18.48	% 
	 Series F Warrants
	  	 	646,552	  	 	 	0.28	% 
	 Series G Warrants
	  	 	640,129	  	 	 	0.27	% 
	 Series G Preferred Stock
	  	 	13,972,043	  	 	 	5.99	% 
		  	  
	  
	 	 	  
	  
	 
		  	 	178,209,665	  	 	 	76.42	% 
		  	  
	  
	 	 	  
	  
	 
	 Common Stock
	  				 			
	 Common Stock Pool
	  	 	29,856,656	  	 	 	12.80	% 
	 Less issued RSPAs
	  	 	(113,500	) 	 	 	-0.05	% 
	 Increase in the Pool
	  	 	18,000,000	  	 	 	7.72	% 
	 Common Stock Option Pool
	  	 	47,743,156	  	 	 	20.47	% 
	 Less Options Granted r(51,619,923)
	  	 	-22.14	% 	 			
	 Plus Options Forfeited
	  	 	6,531,730	  	 	 	2.80	% 
	 Common Stock Repurchased
	  	 	70,875	  	 	 	0.03	% 
		  	  
	  
	 	 	  
	  
	 
	 Stock Pool Reserve (unallocated)
	  	 	2,725,838	  	 	 	1.17	% 
	 Common Stock Issued
	  	 	25,640,002	  	 	 	11.00	% 
	 Options Outstanding
	  	 	26,495,816	  	 	 	11.36	% 
	 Common Warrant
	  	 	121,513	  	 	 	0.05	% 
		  	  
	  
	 	 	  
	  
	 
		  	 	54,983,169	  	 	 	23.58	% 
		  	  
	  
	 	 	  
	  
	 
	 Fully-diluted capitalization
	  	 	233,192,835	  	 	 	100.00	% 
		  	  
	  
	 	 	  
	  
	 
		  				 			
		  	  
	  
	 	 	  
	  
	 
	 Common Stock Authorized
	  	 	256,100,000	  	 	 	256,100,000

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00275-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00275-of-00352.parquet"}]]