Document:

EX-10.15

 Exhibit 10.15 
 SECOND AMENDED AND RESTATED LOAN AND SECURITY AGREEMENT 
 THIS SECOND AMENDED AND RESTATED LOAN AND SECURITY AGREEMENT (this “Agreement”) dated as of August 14, 2013 (the “Effective Date”) between SILICON VALLEY
BANK, a California corporation with a loan production office located at 555 Mission Street, 9th Floor, San Francisco, CA 94105 (“Bank”), and RINGCENTRAL, INC., a California corporation (“RingCentral”), and RCLEC, INC., a Delaware corporation
(“RCLEC” and together with RingCentral, individually and collectively, jointly and severally, “Borrower”), each with offices located at 1400 Fashion Island Boulevard, 7th Floor, San Mateo, CA 94404, provides the terms on which Bank shall
lend to Borrower and Borrower shall repay Bank. The parties agree as follows: 
 Recitals 

A. Bank and Borrower have entered into that certain Amended and Restated Loan and Security Agreement dated as of October 29, 2010
(as amended from time to time, the “Prior Loan Agreement”). 
 B. Borrower has requested, and Bank has agreed,
to replace, amend and restate the Prior Loan Agreement in its entirety. Bank and Borrower hereby agree that the Prior Loan Agreement is amended and restated in its entirety as follows: 

 

	 	1	ACCOUNTING AND OTHER TERMS 

 Accounting terms not defined in this Agreement shall be construed following GAAP. Calculations and determinations must be made following GAAP. Capitalized terms not otherwise defined in this Agreement
shall have the meanings set forth in Section 13. All other terms contained in this Agreement, unless otherwise indicated, shall have the meaning provided by the Code to the extent such terms are defined therein. 

 

	 	2	LOAN AND TERMS OF PAYMENT 

 2.1 Promise to Pay. Borrower hereby unconditionally promises to pay Bank the outstanding principal amount of all Credit Extensions and accrued and unpaid interest thereon as and when due in
accordance with this Agreement. 
 2.1.1 Revolving Advances. 

(a) Availability. Subject to the terms and conditions of this Agreement, Bank shall make Advances not exceeding the Availability
Amount. Amounts borrowed under the Revolving Line may be repaid, and prior to the Revolving Line Maturity Date, reborrowed, subject to the applicable terms and conditions precedent herein. 

(b) Termination; Repayment. The Revolving Line terminates on the Revolving Line Maturity Date, when the principal amount of all
Advances, the unpaid interest thereon, and all other Obligations relating to the Revolving Line shall be immediately due and payable. 
 2.1.2 Growth Capital Loan. 
 (a) Availability. As of the
Effective Date, the outstanding principal balance of the Growth Capital Advances is Four Million Two Hundred Twenty-Two Thousand Two Hundred Twenty-Two and 26/100 Dollars ($4,222,222.26). No additional Growth Capital Advances are available
hereunder. 
 (b) Repayment. The Growth Capital Advances shall continue to be repaid as follows:
Borrower shall make consecutive equal monthly payments of principal in the amount of Two Hundred Twenty-Two Thousand Two Hundred Twenty-Two and 22/100 Dollars ($222,222.22), plus accrued but unpaid interest, on the first (1st) day of each month. The Final Payment and all unpaid principal
and accrued and unpaid interest on each Growth Capital Advance are due and payable in full on the Growth Capital Maturity Date. 

(c) Voluntary Prepayment. Borrower shall have the option to prepay all Growth Capital Advances in full, but not in part, provided
Borrower (i) shall provide written notice to Bank of their election to prepay the Growth Capital Advances at least five (5) Business Days prior to such prepayment and (ii) pays, on the date of such prepayment, (a) all outstanding
principal and accrued but unpaid interest, plus (b) the Final Payment, plus (c) all other sums, including Bank Expenses, if any, that shall have become due and payable. 

(d) Mandatory Prepayment Upon an Acceleration. If the Growth Capital Advances are accelerated following the occurrence of an Event
of Default, Borrower shall immediately pay to Bank an amount equal to the sum of (i) all outstanding principal and accrued but unpaid interest, plus (ii) the Final Payment, plus (iii) all other sums, including Bank Expenses, if any,
that shall have become due and payable. 

 2.1.3 Maximum Advances and Growth Capital Advances. In addition and notwithstanding
the foregoing, the aggregate amount of all Growth Capital Advances plus the aggregate amount of all Advances shall not exceed Fifteen Million Dollars ($15,000,000) at any time. 

2.1.4 Supplemental Growth Capital Loan. 
 (a) Availability. Subject to the terms and conditions of this Agreement, Bank agrees to make advances to Borrower (each a “Supplemental Growth Capital Advance” and collectively the
“Supplemental Growth Capital Advances”), from time to time, prior to the Supplemental Growth Capital Commitment Termination Date, in an aggregate amount not to exceed the Supplemental Growth Capital Loan Commitment. 

(i) Two Million Five Hundred Thousand Dollars ($2,500,000) of the Supplemental Growth Capital Loan Commitment (the “First
Tranche”) shall be advanced to Borrower on or about the Effective Date. After repayment, the Supplemental Growth Capital Advance under the First Tranche may not be reborrowed. 

(ii) The remaining Two Million Five Hundred Thousand Dollars ($2,500,000) of the Supplemental Growth Capital Loan Commitment (the
“Second Tranche”) shall be available through the Supplemental Growth Capital Commitment Termination Date. Each Supplemental Growth Capital Advance under the Second Tranche must be in an amount of not less than One Million Two
Hundred Fifty Thousand Dollars ($1,250,000). After repayment, no Supplemental Growth Capital Advance under the Second Tranche may be reborrowed. 
 (b) Repayment of Supplemental Growth Capital Advances. For each Supplemental Growth Capital Advance, Borrower shall make monthly payments of accrued but unpaid interest commencing on the first
(1st) day of the first (1st) month following the month in which the Funding Date occurs
with respect to such Supplemental Growth Capital Advance and continuing on the first (1st) day of each month thereafter through the Supplemental Growth Capital Maturity Date. The Supplemental Final Payment and all unpaid principal and accrued and unpaid interest on each Supplemental
Growth Capital Advance is due and payable in full on the Supplemental Growth Capital Maturity Date. 
 (c) Voluntary
Prepayment. Borrower shall have the option to prepay all Supplemental Growth Capital Advances in full, provided Borrower (i) shall provide written notice to Bank of its election to prepay the Supplemental Growth Capital Advances at least
five (5) Business Days prior to such prepayment and (ii) pays, on the date of such prepayment, (a) all outstanding principal and accrued but unpaid interest, plus (b) the Supplemental Final Payment, plus (c) all other sums,
including Bank Expenses, if any, that shall have become due and payable. 
 (d) Mandatory Prepayment Upon an
Acceleration. If the Supplemental Growth Capital Advances are accelerated following the occurrence of an Event of Default, Borrower shall immediately pay to Bank an amount equal to the sum of (i) all outstanding principal and accrued but
unpaid interest, plus (ii) the Final Payment, plus (iii) all other sums, including Bank Expenses, if any, that shall have become due and payable. 
 2.2 Overadvances. If, at any time, the outstanding principal amount of any Advances exceeds the lesser of either (x) the Revolving Line minus the aggregate amount of all Growth Capital
Advances or (y) the CMRR multiplied by the Advance Rate, Borrower shall immediately pay to Bank in cash the amount of such excess (such excess, the “Overadvance”). Without limiting Borrower’s obligation to repay Bank any
Overadvance, Borrower agrees to pay Bank interest on the outstanding amount of any Overadvance, on demand, at the Default Rate. 

2.3 Payment of Interest on the Credit Extensions. 
 (a) Interest Rate 
 (i) Advances. Subject to Section 2.3(b),
the principal amount outstanding under the Revolving Line shall accrue interest at a floating per annum rate equal to two percentage points (2.00%) above the Prime Rate, which interest shall be payable monthly in accordance with
Section 2.3(d) below. 

  
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 (ii) Growth Capital Advances. Subject to Section 2.3(b), the principal amount
outstanding for each Growth Capital Advance shall accrue interest at a floating per annum rate equal to two and three-quarters percentage points (2.75%) above the Prime Rate, which interest shall be payable monthly. 

(iii) Supplemental Growth Capital Advances. Subject to Section 2.3(b), the principal amount outstanding for each
Supplemental Growth Capital Advance shall accrue interest at a fixed per annum rate equal to eleven percent (11.00%), which interest shall be payable monthly. 
 (b) Default Rate. Immediately upon the occurrence and during the continuance of an Event of Default, Obligations shall bear interest at a rate per annum which is five percentage points
(5.00%) above the rate that is otherwise applicable thereto (the “Default Rate”) unless Bank otherwise elects from time to time in its sole discretion to impose a smaller increase. Fees and expenses which are required to be paid by
Borrower pursuant to the Loan Documents (including, without limitation, Bank Expenses) but are not paid when due shall bear interest until paid at a rate equal to the highest rate applicable to the Obligations. Payment or acceptance of the increased
interest rate provided in this Section 2.3(b) is not a permitted alternative to timely payment and shall not constitute a waiver of any Event of Default or otherwise prejudice or limit any rights or remedies of Bank. 

(c) Adjustment to Interest Rate. Changes to the interest rate of any Credit Extension based on changes to the Prime Rate shall be
effective on the effective date of any change to the Prime Rate and to the extent of any such change. 

(d) Payment; Interest Computation. Interest is payable monthly on the first (1st) calendar day of each month and shall be computed on the basis
of a 360-day year for the actual number of days elapsed. In computing interest, (i) all payments received after 12:00 p.m. Pacific time on any day shall be deemed received at the opening of business on the next Business Day, and (ii) the
date of the making of any Credit Extension shall be included and the date of payment shall be excluded; provided, however, that if any Credit Extension is repaid on the same day on which it is made, such day shall be included in computing interest
on such Credit Extension. 
 2.4 Fees. Borrower shall pay to Bank: 

(a) Commitment Fee. A fully earned, non-refundable commitment fee of Ninety Thousand Dollars ($90,000), on the Effective Date;

 (b) Final Payment. The Final Payment, when due hereunder; 

(c) Supplemental Final Payment. The Supplemental Final Payment, when due hereunder; 

(d) Unused Revolving Line Facility Fee. Payable quarterly in arrears on the first day of each calendar quarter occurring
prior to the Revolving Line Maturity Date, and on the Revolving Line Maturity Date, a fee (the “Unused Revolving Line Facility Fee”) in an amount equal to one-quarter of one percent (0.25%) per annum of the average unused portion of
the Revolving Line, as determined by Bank. The unused portion of the Revolving Line, for purposes of this calculation, shall be calculated on a calendar year basis and shall equal the difference between (i) the Revolving Line, and
(ii) the average for the period of the daily aggregate principal closing balance of the Revolving Line and Growth Capital Advances outstanding; and 
 (e) Bank Expenses. All Bank Expenses (including reasonable attorneys’ fees and expenses for documentation and negotiation of this Agreement) incurred through and after the Effective Date, when
due (or, if no stated due date, upon demand by Bank). 
 (f) Fees Fully Earned. Unless otherwise provided in this
Agreement or in a separate writing by Bank, Borrower shall not be entitled to any credit, rebate, or repayment of any fees earned by Bank pursuant to this Agreement notwithstanding any termination of this Agreement or the suspension or termination
of Bank’s obligation to make loans and advances hereunder. Bank may deduct amounts owing by Borrower under the clauses of this Section 2.4 pursuant to the terms of Section 2.5(c). Bank shall provide Borrower written notice of
deductions made from the Designated Deposit Account pursuant to the terms of the clauses of this Section 2.4. 
 2.5
Payments; Application of Payments; Debit of Accounts. 
 (a) All payments to be made by Borrower under any Loan Document
shall be made in immediately available funds in Dollars, without setoff or counterclaim, before 12:00 p.m. Eastern/Pacific time on the date when due. Payments of principal and/or interest received after 12:00 p.m. Eastern/Pacific time are considered
received at the opening of business on the next Business Day. When a payment is due on a day that is not a Business Day, the payment shall be due the next Business Day, and additional fees or interest, as applicable, shall continue to accrue until
paid. 

  
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 (b) Bank has the exclusive right to determine the order and manner in which all payments
with respect to the Obligations may be applied. Borrower shall have no right to specify the order or the accounts to which Bank shall allocate or apply any payments required to be made by Borrower to Bank or otherwise received by Bank under this
Agreement when any such allocation or application is not specified elsewhere in this Agreement. 
 (c) Bank may debit any of
Borrower’s deposit accounts, including the Designated Deposit Account, for principal and interest payments or any other amounts Borrower owes Bank under this Agreement when due. These debits shall not constitute a set-off. 

2.6 Withholding. Payments received by Bank from Borrower under this Agreement will be made free and clear of and without deduction
for any and all present or future taxes, levies, imposts, duties, deductions, withholdings, assessments, fees or other charges imposed by any Governmental Authority (including any interest, additions to tax or penalties applicable thereto) other
than any such taxes, levies, imposts, duties, deductions, withholdings, assessments, fees or other charges imposed on or measured solely by Bank’s income. Specifically, however, if at any time any Governmental Authority, applicable law,
regulation or international agreement requires Borrower to make any withholding or deduction from any such payment or other sum payable hereunder to Bank, Borrower hereby covenants and agrees that the amount due from Borrower with respect to such
payment or other sum payable hereunder will be increased to the extent necessary to ensure that, after the making of such required withholding or deduction, Bank receives a net sum equal to the sum which it would have received had no withholding or
deduction been required, and Borrower shall pay the full amount withheld or deducted to the relevant Governmental Authority. Borrower will, upon request, furnish Bank with proof reasonably satisfactory to Bank indicating that Borrower has made such
withholding payment; provided, however, that Borrower need not make any withholding payment if the amount or validity of such withholding payment is contested in good faith by appropriate and timely proceedings and as to which payment in full is
bonded or reserved against by Borrower. The agreements and obligations of Borrower contained in this Section 2.6 shall survive the termination of this Agreement. 

 

	 	3	CONDITIONS OF LOANS 

3.1 Conditions Precedent to Initial Credit Extension. Bank’s obligation to make the initial Credit Extension is subject to the
condition precedent that Bank shall have received, in form and substance satisfactory to Bank, such documents, and completion of such other matters, as Bank may reasonably deem necessary or appropriate, including, without limitation:

 (a) duly executed original signatures to this Agreement; 

(b) duly executed original signatures to the Warrant; 
 (c) the Operating Documents and long-form good standing certificates of Borrower certified by the Secretary of State (or equivalent agency) of Borrower’s jurisdiction of organization or formation and
each jurisdiction in which Borrower is qualified to conduct business, each as of a date no earlier than thirty (30) days prior to the Effective Date; 
 (d) duly executed original signatures to the completed Borrowing Resolutions for Borrower; 
 (e) certified copies, dated as of a recent date, of financing statement searches, as Bank may request, accompanied by written evidence (including any UCC termination statements) that the Liens indicated
in any such financing statements either constitute Permitted Liens or have been or, in connection with the initial Credit Extension, will be terminated or released; 
 (f) the Perfection Certificate of Borrower, together with the duly executed original signature thereto; 
 (g) a copy of Borrower’s Investors’ Rights Agreement and any amendments thereto; 
 (h) evidence satisfactory to Bank that the insurance policies required by Section 6.6 hereof are in full force and effect, together with appropriate evidence showing lender loss payable and/or
additional insured clauses or endorsements in favor of Bank; and 
 (i) payment of the fees and Bank Expenses then due as
specified in Section 2.4 hereof. 
 3.2 Conditions Precedent to all Credit Extensions. Bank’s obligation to
make each Credit Extension, including the initial Credit Extension, is subject to the following conditions precedent: 

(a) except as otherwise provided in Section 3.4, timely receipt of an executed Payment/Advance Form; 

  
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 (b) the representations and warranties in this Agreement shall be true, accurate, and
complete in all material respects on the date of the Payment/Advance Form and on the Funding Date of each Credit Extension; provided, however, that such materiality qualifier shall not be applicable to any representations and
warranties that already are qualified or modified by materiality in the text thereof; and provided, further that those representations and warranties expressly referring to a specific date shall be true, accurate and complete in all
material respects as of such date, and no Default or Event of Default shall have occurred and be continuing or result from the Credit Extension. Each Credit Extension is Borrower’s representation and warranty on that date that the
representations and warranties in this Agreement remain true, accurate, and complete in all material respects; provided, however, that such materiality qualifier shall not be applicable to any representations and warranties that
already are qualified or modified by materiality in the text thereof; and provided, further that those representations and warranties expressly referring to a specific date shall be true, accurate and complete in all material respects
as of such date; and 
 (c) Bank determines to its satisfaction that there has not been any material impairment in the general
affairs, management, results of operation, financial condition or the prospect of repayment of the Obligations, or any material adverse deviation by Borrower from the most recent business plan of Borrower presented to and accepted by Bank.

 3.3 Covenant to Deliver. Borrower agrees to deliver to Bank each item required to be delivered to Bank under this
Agreement as a condition precedent to any Credit Extension. Borrower expressly agrees that a Credit Extension made prior to the receipt by Bank of any such item shall not constitute a waiver by Bank of Borrower’s obligation to deliver such
item, and the making of any Credit Extension in the absence of a required item shall be in Bank’s sole discretion. 

3.4 Procedures for Borrowing. 
 (a) Advances/Supplemental Growth Capital Advances. Subject to the prior satisfaction of all other applicable conditions to the making of a Credit Extension set forth in this Agreement, to obtain a
Credit Extension, Borrower shall notify Bank (which notice shall be irrevocable) by electronic mail, facsimile, or telephone by 12:00 p.m. Pacific time on the Funding Date of the Credit Extension. Together with any such electronic or facsimile
notification, Borrower shall deliver to Bank by electronic mail or facsimile a completed Payment/Advance Form executed by a Responsible Officer or his or her designee. Bank may rely on any telephone notice given by a person whom Bank believes is a
Responsible Officer or designee. Bank shall credit Credit Extensions to the Designated Deposit Account. Bank may make Credit Extensions under this Agreement based on instructions from a Responsible Officer or his or her designee or without
instructions if the Credit Extensions are necessary to meet Obligations which have become due. 
  

	 	4	CREATION OF SECURITY INTEREST 

 4.1 Grant of Security Interest. Borrower hereby grants Bank, to secure the payment and performance in full of all of the Obligations, a continuing security interest in, and pledges to Bank, the
Collateral, wherever located, whether now owned or hereafter acquired or arising, and all proceeds and products thereof.  
 Borrower acknowledges that it previously has entered, and/or may in the future enter, into Bank Services Agreements with Bank. Regardless of the terms of any Bank Services Agreement, Borrower agrees that
any amounts Borrower owes Bank thereunder shall be deemed to be Obligations hereunder and that it is the intent of Borrower and Bank to have all such Obligations secured by a perfected security interest in the Collateral granted herein (subject only
to Permitted Liens that expressly have superior priority to Bank’s Lien in this Agreement). 
 If this Agreement is
terminated, Bank’s Lien in the Collateral shall continue until the Obligations (other than inchoate indemnity obligations) are repaid in full in cash. Upon payment in full in cash of the Obligations (other than inchoate indemnity obligations)
and at such time as Bank’s obligation to make Credit Extensions has terminated, Bank shall, at the sole cost and expense of Borrower, release its Liens in the Collateral and all rights therein shall revert to Borrower. In the event (x) all
Obligations (other than inchoate indemnity obligations), except for Bank Services, are satisfied in full, and (y) this Agreement is terminated, Bank shall terminate the security interest granted herein upon Borrower providing cash collateral
acceptable to Bank in its good faith business judgment for Bank Services, if any. In the event such Bank Services consist of outstanding Letters of Credit, Borrower shall provide to Bank cash collateral in an amount equal to (x) if such Letters
of Credit are denominated in Dollars, then at least one hundred five percent (105.0%); and (y) if such Letters of Credit are denominated in a Foreign Currency, then at least one hundred ten percent (110.0%), of the Dollar Equivalent of the face
amount of all such Letters of Credit plus all interest, fees, and costs due or to become due in connection therewith (as estimated by Bank in its business judgment), to secure all of the Obligations relating to such Letters of Credit. 

  
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 4.2 Priority of Security Interest. Borrower represents, warrants, and covenants that
the security interest granted herein is and shall at all times continue to be a perfected security interest in the Collateral (subject only to Permitted Liens that are permitted pursuant to the terms of this Agreement to have superior priority to
Bank’s Lien under this Agreement). If Borrower shall acquire a commercial tort claim, Borrower shall promptly notify Bank in a writing signed by Borrower of the general details thereof and grant to Bank in such writing a security interest
therein and in the proceeds thereof, all upon the terms of this Agreement, with such writing to be in form and substance reasonably satisfactory to Bank. 
 4.3 Authorization to File Financing Statements. Borrower hereby authorizes Bank to file financing statements, without notice to Borrower, with all appropriate jurisdictions to perfect or protect
Bank’s interest or rights hereunder, including a notice that any disposition of the Collateral, by either Borrower or any other Person, may be deemed to violate the rights of Bank under the Code. 

 

	 	5	REPRESENTATIONS AND WARRANTIES 

 Borrower represents and warrants as follows: 
 5.1 Due Organization;
Authorization; Power and Authority. Borrower is duly existing and in good standing as a Registered Organization in its jurisdiction of formation and is qualified and licensed to do business and is in good standing in any jurisdiction in which
the conduct of its business or its ownership of property requires that it be qualified except where the failure to do so could not reasonably be expected to have a material adverse effect on Borrower’s business. In connection with this
Agreement, Borrower has delivered to Bank a completed certificate signed by Borrower, entitled “Perfection Certificate”. Borrower represents and warrants to Bank that (a) Borrower’s exact legal name is that indicated on the
Perfection Certificate and on the signature page hereof; (b) Borrower is an organization of the type and is organized in the jurisdiction set forth in the Perfection Certificate; (c) the Perfection Certificate accurately sets forth
Borrower’s organizational identification number or accurately states that Borrower has none; (d) the Perfection Certificate accurately sets forth Borrower’s place of business, or, if more than one, its chief executive office as well
as Borrower’s mailing address (if different than its chief executive office); (e) Borrower (and each of its predecessors) has not, in the past five (5) years, changed its jurisdiction of formation, organizational structure or type, or
any organizational number assigned by its jurisdiction; and (f) all other information set forth on the Perfection Certificate pertaining to Borrower and each of its Subsidiaries is accurate and complete (it being understood and agreed that
Borrower may from time to time update certain information in the Perfection Certificate after the Effective Date to the extent permitted by one or more specific provisions in this Agreement). If Borrower is not now a Registered Organization but
later becomes one, Borrower shall promptly notify Bank of such occurrence and provide Bank with Borrower’s organizational identification number. 
 The execution, delivery and performance by Borrower of the Loan Documents to which it is a party have been duly authorized and do not (i) conflict with any of Borrower’s organizational
documents, (ii) contravene, conflict with, constitute a default under or violate any material Requirement of Law, (iii) contravene, conflict or violate any applicable order, writ, judgment, injunction, decree, determination or award of any
Governmental Authority by which Borrower or any of its Subsidiaries or any of their property or assets may be bound or affected, (iv) require any action by, filing, registration, or qualification with, or Governmental Approval from, any
Governmental Authority (except (A) such Governmental Approvals which have already been obtained and are in full force and effect and (B) UCC-1 financing statement filings that have already been filed and (C) any necessary securities
law filings that will be made by Borrower in connection with the issuance of the Warrant) or (v) conflict with, contravene, constitute a default or breach under, or result in or permit the termination or acceleration of, any material agreement
by which Borrower is bound. Borrower is not in default under any agreement to which it is a party or by which it is bound in which the default could reasonably be expected to have a material adverse effect on Borrower’s business. 

5.2 Collateral. Borrower has good title to, rights in, and the power to transfer each item of the Collateral upon which it
purports to grant a Lien hereunder, free and clear of any and all Liens except Permitted Liens. The Accounts are bona fide, existing obligations of the Account Debtors.  

The Collateral is not in the possession of any third party bailee (such as a warehouse) except (i) as otherwise provided in the
Perfection Certificate and (ii) for Excluded Locations. None of the components of the Collateral shall be maintained at locations other than (i) as provided in the Perfection Certificate, (ii) as permitted pursuant to
Section 7.2, or (iii) Excluded Locations. The term “Excluded Locations” shall mean (i) any co-location facility, or (ii) any location containing property of Borrower with a value of less than Two Hundred Fifty Thousand
Dollars ($250,000). 
 All Inventory is in all material respects of good and marketable quality, free from material defects.

  
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 Borrower is the sole owner of the Intellectual Property which it owns or purports to own
except for (a) non-exclusive licenses granted to its customers in the ordinary course of business, (b) over-the-counter software that is commercially available to the public, and (c) material Intellectual Property licensed to Borrower
and noted on the Perfection Certificate. Each Patent which it owns or purports to own and which is material to Borrower’s business is valid and enforceable, and no part of the Intellectual Property which Borrower owns or purports to own and
which is material to Borrower’s business has been judged invalid or unenforceable, in whole or in part. To the best of Borrower’s knowledge, no claim has been made that any part of the Intellectual Property violates the rights of any third
party except to the extent such claim would not reasonably be expected to have a material adverse effect on Borrower’s business. 
 Except as noted on the Perfection Certificate, Borrower is not a party to, nor is it bound by, any Restricted License. 
 5.3 Eligible Customer Accounts.  
 (a) For any Eligible Customer
Account in any CMRR calculation, all statements made and all unpaid balances appearing in all invoices, instruments and other documents evidencing such Eligible Customer Accounts are and shall be true and correct and all such invoices, instruments
and other documents, and all of Borrower’s Books are genuine and in all respects what they purport to be. Whether or not an Event of Default has occurred and is continuing, Bank may notify any Account Debtor owing Borrower money of Bank’s
security interest in such funds and verify the amount of such Eligible Customer Account. 
 (b) All sales and other transactions
underlying or giving rise to each Eligible Customer Account shall comply in all material respects with all applicable laws and governmental rules and regulations. Borrower has no knowledge of any actual or imminent Insolvency Proceeding of any
Account Debtor whose accounts are Eligible Customer Accounts in any CMRR calculation. To Borrower’s knowledge, all signatures and endorsements on all documents, instruments, and agreements relating to all Eligible Customer Accounts are genuine,
and all such documents, instruments and agreements are legally enforceable in accordance with their terms. Borrower is the owner of and has the legal right to sell, transfer, assign and encumber each Eligible Customer Account, and there are no
defenses, offsets, counterclaims or agreements for which the Account Debtor may claim any deduction or discount. 
 5.4
Litigation. Except as disclosed to Bank pursuant to Section 6.2(vii), there are no actions or proceedings pending or, to the knowledge of any Responsible Officer, threatened in writing by or against Borrower or any of its Subsidiaries
involving more than, individually or in the aggregate, Five Hundred Thousand Dollars ($500,000), except for actions or proceedings of which Borrower has given Bank written notice. 

5.5 Financial Condition. All consolidated financial statements for Borrower and any of its Subsidiaries delivered to Bank fairly
present in all material respects Borrower’s consolidated financial condition and Borrower’s consolidated results of operations. There has not been any material deterioration in Borrower’s consolidated financial condition since the
date of the most recent financial statements submitted to Bank. 
 5.6 Solvency. The fair salable value of
Borrower’s consolidated assets (including goodwill minus disposition costs) exceeds the fair value of Borrower’s liabilities; Borrower is not left with unreasonably small capital after the transactions in this Agreement; and Borrower is
able to pay its debts (including trade debts) as they mature. 
 5.7 Regulatory Compliance. Borrower is not an
“investment company” or a company “controlled” by an “investment company” under the Investment Company Act of 1940, as amended. Borrower is not engaged as one of its important activities in extending credit for margin
stock (under Regulations X, T and U of the Federal Reserve Board of Governors). Borrower (a) has complied in all material respects with all Requirements of Law, and (b) has not violated any Requirements of Law the violation of which could
reasonably be expected to have a material adverse effect on its business, including, without limitation, laws, ordinances or rules promulgated by the Federal Communications Commission. None of Borrower’s or any of its Subsidiaries’
properties or assets has been used by Borrower or any Subsidiary or, to the best of Borrower’s knowledge, by previous Persons, in disposing, producing, storing, treating, or transporting any hazardous substance other than legally. Borrower and
each of its Subsidiaries have obtained all consents, approvals and authorizations of, made all declarations or filings with, and given all notices to, all Governmental Authorities that are necessary to continue their respective businesses as
currently conducted. 
 5.8 Subsidiaries; Investments. Borrower does not own any stock, partnership, or other
ownership interest or other equity securities except for Permitted Investments. 

  
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 5.9 Tax Returns and Payments; Pension Contributions. Borrower has timely filed all
required tax returns and reports, and Borrower has timely paid all foreign, federal, state and local taxes, assessments, deposits and contributions owed by Borrower except (a) to the extent such taxes are being contested in good faith by
appropriate proceedings promptly instituted and diligently conducted, so long as such reserve or other appropriate provision, if any, as shall be required in conformity with GAAP shall have been made therefor, or (b) for failure to pay in a
timely manner state and local taxes that could not reasonably be expected to cause a material adverse effect on Borrower’s business and that has not created a Lien on any Collateral other than a Permitted Lien. 

To the extent Borrower defers payment of any contested taxes, Borrower shall (i) notify Bank in writing of the commencement of, and
any material development in, the proceedings, and (ii) post bonds or take any other steps required to prevent the Governmental Authority levying such contested taxes from obtaining a Lien upon any of the Collateral that is other than a
“Permitted Lien.” Borrower is not aware of any claims or adjustments proposed for any of Borrower’s prior tax years which could result in additional taxes becoming due and payable by Borrower in excess of One Hundred Thousand Dollars
($100,000). Borrower has paid all amounts necessary to fund all present pension, profit sharing and deferred compensation plans in accordance with their terms, and Borrower has not withdrawn from participation in, and has not permitted partial or
complete termination of, or permitted the occurrence of any other event with respect to, any defined benefit plan which could reasonably be expected to result in any liability of Borrower, including any liability to the Pension Benefit Guaranty
Corporation or its successors or any other governmental agency. 
 5.10 Use of Proceeds. Borrower shall use the proceeds
of the Credit Extensions solely as working capital or for other general corporate purposes to fund its general business requirements and not for personal, family, household or agricultural purposes. 

5.11 Full Disclosure. No written representation, warranty or other statement of Borrower in any certificate or written statement
given to Bank, as of the date such representation, warranty, or other statement was made, taken together with all such written certificates and written statements given to Bank, contains any untrue statement of a material fact or omits to state a
material fact necessary to make the statements contained in the certificates or statements not misleading (it being recognized by Bank that the projections and forecasts provided by Borrower in good faith and based upon reasonable assumptions are
not viewed as facts and that actual results during the period or periods covered by such projections and forecasts may differ from the projected or forecasted results). 
 5.12 Definition of “Knowledge.” For purposes of the Loan Documents, whenever a representation or warranty is made to Borrower’s knowledge or awareness, to the “best of”
Borrower’s knowledge, or with a similar qualification, knowledge or awareness means the actual knowledge, after reasonable investigation, of any Responsible Officer. 

5.13 Designated Senior Indebtedness. The Loan Documents, solely as they relate to the Senior Bank Facilities, and all of the
Obligations related to the Senior Bank Facilities shall be deemed “Designated Senior Indebtedness” or a similar concept thereof for purposes of any Indebtedness of the Borrower. 

 

	 	6	AFFIRMATIVE COVENANTS 

 Borrower shall do all of the following: 
 6.1 Government Compliance.
(a) Maintain its and all its Subsidiaries’ legal existence and good standing in their respective jurisdictions of formation and maintain qualification in each jurisdiction in which the failure to so qualify would reasonably be expected to
have a material adverse effect on Borrower’s business or operations. Borrower shall comply, and have each Subsidiary comply, with all laws, ordinances and regulations to which it is subject, noncompliance with which could have a material
adverse effect on Borrower’s business. 
 (b) Obtain all of the Governmental Approvals necessary for the performance
by Borrower of its obligations under the Loan Documents to which it is a party and the grant of a security interest to Bank in the Collateral. Borrower shall promptly provide copies of any such obtained Governmental Approvals to Bank. 

6.2 Financial Statements, Reports, Certificates. Provide Bank with the following: 

(i) within thirty (30) days after the last day of each month, a duly completed Borrowing Base Certificate, including calculations of
CMRR and Churn, signed by a Responsible Officer; 
 (ii) as soon as available, but no later than thirty (30) days
after the last day of each month (provided, however, that from and after such time as RingCentral is subject to the reporting requirements under the Exchange Act, Borrower shall instead be required to provide the following within forty-five
(45) days after the last day of each fiscal quarter), company prepared consolidated and upon reasonable request from Bank, consolidating, balance sheets and income statements covering RingCentral’s consolidated operations, and
RingCentral’s and each 

  
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of its Subsidiaries operations, for such month (or, in the case of quarterly financial statements, such quarter), certified by a Responsible Officer and in a form acceptable to Bank (the
“Monthly/Quarterly Financial Statements”); 
 (iii) within thirty (30) days after the last day
of each month (provided, however, that from and after such time as RingCentral is subject to the reporting requirements under the Exchange Act, Borrower shall instead be required to provide the following within forty-five (45) days after the
last day of each fiscal quarter) and together with the Monthly/Quarterly Financial Statements, a duly completed Compliance Certificate signed by a Responsible Officer, certifying that as of the end of such month (or, in the case of quarterly
Compliance Certificates, such quarter), Borrower is in full compliance with all of the terms and conditions of this Agreement and such other information as Bank shall reasonably request; 

(iv) prior to RingCentral becoming subject to the reporting requirements under the Exchange Act, as soon as available, but not later than
thirty (30) days after the last day of Borrower’s fiscal year, annual financial projections for the following fiscal year commensurate in form and substance with those provided to Borrower’s venture capital investors; 

(v) as soon as available, and in any event within one hundred eighty (180) days following the end of Borrower’s fiscal
year, audited consolidated financial statements prepared under GAAP, consistently applied, together with an unqualified opinion on the financial statements from an independent certified public accounting firm acceptable to Bank in its reasonable
discretion; provided, however, that from and after RingCentral’s Initial Public Offering, Borrower shall instead be required to provide, within one hundred twenty (120) days following the end of Borrower’s fiscal year,
company-prepared annual financial statements certified by a Responsible Officer and in a form acceptable to Bank; 
 (vi) SEC
Filings. Within five (5) days of filing, copies of all periodic and other reports, proxy statements and other materials filed by Borrower with the SEC, any Governmental Authority succeeding to any or all of the functions of the SEC or with any
national securities exchange, or distributed to its shareholders, as the case may be. Documents required to be delivered pursuant to the terms hereof (to the extent any such documents are included in materials otherwise filed with the SEC) may be
delivered electronically or on Borrower’s website on the Internet at Borrower’s website address and if so delivered, in each case, shall be deemed to have been delivered on the date on which Borrower posts such documents, or provides a
link thereto; 
 (vii) within five (5) days of delivery, copies of all statements, reports and notices made available to
Borrower’s security holders or to any holders of Subordinated Debt; 
 (viii) a prompt report of any legal actions pending
or threatened in writing against Borrower or any of its Subsidiaries that could result in damages or costs to Borrower or any of its Subsidiaries of, individually or in the aggregate, Five Hundred Thousand Dollars ($500,000) or more; 

(ix) promptly, and in any event within five (5) Business Days (or such longer period as permitted by Bank) after request by Bank,
copies of such customer contracts of Borrower (whether or not such customer contract is included as an Eligible Customer Account) as Bank may request; and 
 (x) upon request, budgets, sales projections, operating plans and other financial information reasonably requested by Bank. 
 6.3 Inventory; Returns. Keep all Inventory in good and marketable condition, free from material defects. Returns and allowances between Borrower and its Account Debtors shall follow Borrower’s
customary practices as they exist at the Effective Date. Borrower must promptly notify Bank of all returns, recoveries, disputes and claims that involve more than One Hundred Thousand Dollars ($100,000). 

6.4 Taxes; Pensions. Timely file, and require each of its Subsidiaries to timely file, all required tax returns and reports and
timely pay, and require each of its Subsidiaries to timely pay, all foreign, federal, state and local taxes, assessments, deposits and contributions owed by Borrower and each of its Subsidiaries, except for (i) deferred payment of any taxes
contested pursuant to the terms of Section 5.9 hereof, and (ii) the failure to timely pay state and local taxes that could not reasonably be expected to cause a material adverse effect on Borrower’s business and that has not created a
Lien on any Collateral other than a Permitted Lien, and shall deliver to Bank, on demand, appropriate certificates attesting to such payments, and pay all amounts necessary to fund all present pension, profit sharing and deferred compensation plans
in accordance with their terms. 
 6.5 Access to Collateral; Books and Records. Allow Bank, or its agents, at
reasonable times, on five (5) Business Days’ notice (provided no notice is required if an Event of Default has occurred and is continuing), to inspect the Collateral and audit and copy Borrower’s Books. Such inspections or audits
shall be conducted no  

  
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more often than once every twelve (12) months unless an Event of Default has occurred and is continuing in which case such inspections and audits shall occur as often as Bank shall determine
is necessary. The foregoing inspections and audits shall be at Borrower’s expense. In the event Borrower and Bank schedule an audit more than ten (10) days in advance, and Borrower cancels or seeks to reschedule the audit with less than
two (2) days written notice to Bank, then (without limiting any of Bank’s rights or remedies), Borrower shall pay Bank a fee of One Thousand Dollars ($1,000) plus any out-of-pocket expenses incurred by Bank to compensate Bank for the
anticipated costs and expenses of the cancellation or rescheduling. 
 6.6 Insurance.  

(a) Keep its business and the Collateral insured for risks and in amounts standard for companies in Borrower’s industry and location
and as Bank may reasonably request. Insurance policies shall be in a form, with financially sound and reputable insurance companies that are not Affiliates of Borrower, and in amounts that are satisfactory to Bank. All property policies shall have a
lender’s loss payable endorsement showing Bank as lender loss payee. All liability policies shall show, or have endorsements showing, Bank as an additional insured. Bank shall be named as lender loss payee and/or additional insured with respect
to any such insurance providing coverage in respect of any Collateral. 
 (b) Proceeds payable under any property policy are, at
Bank’s option, payable to Bank on account of the Obligations. Notwithstanding the foregoing, (a) so long as no Event of Default has occurred and is continuing, Borrower shall have the option of applying the proceeds of any casualty policy
up to One Million Dollars ($1,000,000) in the aggregate for all losses under all casualty policies in any twelve-month period, toward the replacement or repair of destroyed or damaged property; provided that any such replaced or repaired property
(i) shall be of equal or like value as the replaced or repaired Collateral and (ii) shall be deemed Collateral in which Bank has been granted a perfected security interest to the extent that any such destroyed, damaged or replaced property
was Collateral, and (b) after the occurrence and during the continuance of an Event of Default, all proceeds payable with respect to any Collateral under such casualty policy shall, at the option of Bank, be payable to Bank on account of the
Obligations. 
 (c) Prior to the Effective Date, Borrower shall deliver the insurance certificates required by
Section 3.1(h), and, at Bank’s request, Borrower shall deliver certified copies of insurance policies and evidence of all premium payments. Each provider of any such insurance required under this Section 6.6 shall agree, by
endorsement upon the policy or policies issued by it or by independent instruments furnished to Bank, that it will give Bank thirty (30) days prior written notice before any such policy or policies shall be materially adversely altered or
canceled, provided that for cancellations due to non-payment, provider will give Bank ten (10) days prior written notice. If Borrower fails to obtain insurance as required under this Section 6.6 or to pay any amount or furnish any required
proof of payment to third persons and Bank, Bank may make all or part of such payment or obtain such insurance policies required in this Section 6.6, and take any action under the policies Bank deems prudent. 

6.7 Operating Accounts. Maintain its primary depository accounts and operating accounts with Bank. Borrower and Bank acknowledge
and agree that no Control Agreements shall be required with regard to Borrower’s Collateral Accounts. 
 6.8
Financial Covenants. Maintain at all times from and after Borrower’s Initial Public Offering, and so long as there are any outstanding Obligations under the Revolving Line or with respect to the Growth Capital Advances or Bank’s
obligations to make Advances under the Revolving Line remains, subject to periodic reporting as of the last day of each quarter: 
 (a) Liquidity. Liquidity of not less than the greater of (i) Five Million Dollars ($5,000,000) or (ii) Borrower’s Cash Burn for the most recently ended quarter multiplied by two (2).

 6.9 Protection of Intellectual Property Rights. 

(a) (i) Protect, defend and maintain the validity and enforceability of its Intellectual Property; (ii) promptly advise Bank in
writing of material infringements or any other event that could reasonably be expected to materially and adversely affect the value of its Intellectual Property; and (iii) not allow any Intellectual Property material to Borrower’s business
to be abandoned, forfeited or dedicated to the public without Bank’s written consent. 
 (b) Provide written notice to Bank
within ten (10) days of entering or becoming bound by any Restricted License (other than over-the-counter software that is commercially available to the public). Borrower shall take such steps as Bank reasonably requests to obtain the consent
of, or waiver by, any person whose consent or waiver is necessary for (i) any Restricted License to be deemed “Collateral” and for Bank to have a security 

  
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interest in it that might otherwise be restricted or prohibited by law or by the terms of any such Restricted License, whether now existing or entered into in the future, and (ii) Bank to
have the ability in the event of a liquidation of any Collateral to dispose of such Collateral in accordance with Bank’s rights and remedies under this Agreement and the other Loan Documents. 

6.10 Litigation Cooperation. From the date hereof and continuing through the termination of this Agreement, make available to
Bank, without expense to Bank, Borrower and its officers, employees and agents and Borrower’s Books, to the extent that Bank may deem them reasonably necessary to prosecute or defend any third-party suit or proceeding instituted by or against
Bank with respect to any Collateral or relating to Borrower. 
 6.11 Further Assurances. Execute any further
instruments and take further action as Bank reasonably requests to perfect or continue Bank’s Lien in the Collateral or to effect the purposes of this Agreement. 

 

	 	7	NEGATIVE COVENANTS 

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

7.1 Dispositions. Convey, sell, lease, transfer, assign, or otherwise dispose of (collectively, “Transfer”), or
permit any of its Subsidiaries to Transfer, all or any part of its business or property, except for Transfers (a) of Inventory in the ordinary course of business; (b) of worn-out or obsolete
Equipment that is, in the reasonable judgment of Borrower, no longer economically practicable to maintain or useful in the ordinary course of business of Borrower; (c) consisting of Permitted Liens and Permitted Investments; (d) consisting
of Borrower’s use or transfer of money or Cash Equivalents in the ordinary course of its business for the payment of ordinary course business expenses in a manner that is not prohibited by the terms of this Agreement or the other Loan
Documents; (e) of non-exclusive licenses for the use of the property of Borrower or its Subsidiaries in the ordinary course of business and licenses that could not result in a legal transfer of title of the licensed property but that may be
exclusive in respects other than territory and that may be exclusive as to territory only as to discreet geographical areas outside of the United States; and (f) other Transfers in an aggregate amount not to exceed Two Hundred Fifty Thousand
Dollars ($250,000) in any twelve month period. 
 7.2 Changes in Business, Management, or Business Locations.
(a) Engage in or permit any of its Subsidiaries, if any, to engage in any business other than the businesses currently engaged in by Borrower and such Subsidiary, as applicable, or reasonably related thereto; (b) liquidate or dissolve; or
(c) have a change in management such that Borrower’s Chief Executive Officer ceases to hold such office and a replacement or interim replacement satisfactory to Borrower’s board of directors is not made within ninety (90) days
after such Chief Executive Officer’s departure from (or replacement by) Borrower or its board of directors.  

Borrower shall not, without at least twenty (20) days prior written notice to Bank: (1) add any new offices or business
locations (other than a co-location facility), including warehouses (unless such new offices or business locations contain less than Two Hundred Fifty Thousand Dollars ($250,000) in Borrower’s assets or property) or deliver any portion of the
Collateral valued, individually or in the aggregate, in excess of Two Hundred Fifty Thousand Dollars ($250,000) to a bailee at a location other than to a bailee and at a location already disclosed in the Perfection Certificate or to a co-location
facility, (2) change its jurisdiction of organization (except that only five (5) days prior written notice shall be required if RingCentral reincorporates into the State of Delaware in connection with its initial public offering),
(3) change its organizational structure or type, (4) change its legal name, or (5) change any organizational number (if any) assigned by its jurisdiction of organization. If Borrower intends to deliver any portion of the Collateral
valued, individually or in the aggregate, in excess of Two Hundred Fifty Thousand Dollars ($250,000) to a bailee other than to a bailee at a location already disclosed in the Perfection Certificate or to a co-location facility, and Bank and such
bailee are not already parties to a bailee agreement governing both the Collateral and the location to which Borrower intends to deliver the Collateral, then Borrower will first receive the written consent of Bank, and such bailee shall execute and
deliver a bailee agreement in form and substance satisfactory to Bank. 
 7.3 Mergers or Acquisitions. Unless all
Obligations (other than inchoate indemnity obligations) are paid in full pursuant to Section 12.1 upon the closing of the merger, consolidation or acquisition, merge or consolidate, or permit any of its Subsidiaries to merge or consolidate,
with any other Person, or acquire, or permit any of its Subsidiaries to acquire, all or substantially all of the capital stock or property of another Person (including, without limitation, by the formation of any Subsidiary) except where
(a) total consideration including cash and the value of any non-cash consideration, for all such transactions does not in the aggregate exceed Two Million Dollars ($2,000,000) in any twelve-month period; (b) no Event of Default has
occurred and is continuing or would exist after giving effect to the transactions; and (c) Borrower is the surviving legal entity or the surviving entity is a wholly-owned Subsidiary of Borrower (provided that such wholly-owned Subsidiary has
been added as a co-Borrower under the Loan Documents, effective upon the closing of such merger, consolidation or acquisition, on  

  
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terms and pursuant to documentation acceptable to Bank). A Subsidiary may merge or consolidate into another Subsidiary or into Borrower. Subject to Section 7.2, Borrower may merge or
consolidate into another entity for the sole purpose of reincorporating into the State of Delaware. 
 7.4 Indebtedness.
Create, incur, assume, or be liable for any Indebtedness, or permit any Subsidiary to do so, other than Permitted Indebtedness. 
 7.5 Encumbrance. Create, incur, allow, or suffer any Lien on any of its property, or assign or convey any right to receive income, including the sale of any Accounts, or permit any of its
Subsidiaries to do so, except for Permitted Liens, permit any Collateral not to be subject to the security interest granted herein, or enter into any agreement, document, instrument or other arrangement (except with or in favor of Bank) with any
Person which directly or indirectly prohibits or has the effect of prohibiting Borrower from assigning, mortgaging, pledging, granting a security interest in or upon, or encumbering any of Borrower’s Intellectual Property, except (i) as is
otherwise permitted in Section 7.1 hereof, (ii) in connection with transactions that otherwise constitute the definition of “Permitted Liens” herein, (iii) covenants with such restrictions in agreements, provided that such
covenants do not prohibit or restrict Borrower from assigning, mortgaging, pledging, granting a security interest in or upon or encumbering Borrower’s Intellectual Property in favor of Bank, and provided further that the counter parties to such
covenants are not permitted to receive a security interest in Borrower’s Intellectual Property, and (iv) restrictions under the TriplePoint Loan Agreements. 
 7.6 Intentionally Omitted. 
 7.7 Distributions; Investments.
(a) Pay any dividends or make any distribution or payment or redeem, retire or purchase any capital stock provided that (i) Borrower may convert any of its convertible securities into other securities pursuant to the terms of such
convertible securities or otherwise in exchange thereof and purchase fractional shares in connection therewith, (ii) Borrower may pay dividends solely in common stock; and (iii) Borrower may repurchase the stock of former employees or
consultants pursuant to stock repurchase agreements so long as an Event of Default does not exist at the time of such repurchase and would not exist after giving effect to such repurchase, provided that the aggregate amount of all such repurchases
does not exceed the lesser of (A) Two Million Dollars ($2,000,000) per twelve-month period or (B) fifty percent (50%) of the net cash proceeds of an equity financing concurrent with such stock repurchase; or (b) directly or
indirectly make any Investment (including, without limitation, by the formation of any Subsidiary) other than Permitted Investments, or permit any of its Subsidiaries to do so. 

7.8 Transactions with Affiliates. Directly or indirectly enter into or permit to exist any material transaction with any Affiliate
of Borrower, except for (i) transactions that are in the ordinary course of Borrower’s business, upon fair and reasonable terms that are no less favorable to Borrower than would be obtained in an arm’s length transaction with a
non-affiliated Person, (ii) reasonable and customary indemnification arrangements with regard to officers and directors, (iii) reasonable and customary employee agreements, (iv) reasonable and customary compensation arrangements
(including equity based compensation) with Borrower’s employees, (v) reimbursement of expenses of current or former officers and directors, and (vi) “transfer pricing”, “cost sharing” and “cost plus”
arrangements in the ordinary course of business. 
 7.9 Subordinated Debt. (a) Make or permit any payment on
any Subordinated Debt, except under the terms of the subordination, intercreditor, or other similar agreement to which such Subordinated Debt is subject, or (b) amend any provision in any document relating to the Subordinated Debt which would
increase the amount thereof, or adversely affect the subordination thereof to Obligations owed to Bank. 
 7.10
Compliance. Become an “investment company” or a company controlled by an “investment company”, under the Investment Company Act of 1940, as amended, or undertake as one of its important activities extending credit to purchase
or carry margin stock (as defined in Regulation U of the Board of Governors of the Federal Reserve System), or use the proceeds of any Credit Extension for that purpose; fail to (a) meet the minimum funding requirements of ERISA,
(b) prevent a Reportable Event or Prohibited Transaction, as defined in ERISA, from occurring, or (c) comply with the Federal Fair Labor Standards Act, the failure of any of the conditions described in clauses (a) through
(c) which could reasonably be expected to have a material adverse effect on Borrower’s business; or violate any other law or regulation, if the violation could reasonably be expected to have a material adverse effect on Borrower’s
business, or permit any of its Subsidiaries to do so; withdraw or permit any Subsidiary to withdraw from participation in, permit partial or complete termination of, or permit the occurrence of any other event with respect to, any present pension,
profit sharing and defined benefit plan which could reasonably be expected to result in any liability of Borrower, including any liability to the Pension Benefit Guaranty Corporation or its successors or any other governmental agency.

  
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 7.11 Borrower Transactions. Notwithstanding anything in this Agreement, any
transactions between or among Borrowers shall be permitted. 
  

	 	8	EVENTS OF DEFAULT 

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

8.1 Payment Default. Borrower fails to (a) make any payment of principal or interest on any Credit Extension when due, or
(b) pay any other Obligations within three (3) Business Days after such Obligations are due and payable (which three (3) Business Day cure period shall not apply to payments due on the Revolving Line Maturity Date, Growth Capital
Maturity Date or Supplemental Growth Capital Maturity Date). During the cure period, the failure to make or pay any payment specified under clause (b) hereunder is not an Event of Default (but no Credit Extension will be made during the cure
period); 
 8.2 Covenant Default. 
 (a) Borrower fails or neglects to perform any obligation in Sections 2.2, 6.2, 6.4, 6.6, 6.7, or 6.8, or violates any covenant in Section 7; or 

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

(a) (i) The service of process seeking to attach, by trustee or similar process, any funds of Borrower or of any entity under the
control of Borrower (including a Subsidiary) in excess of One Hundred Thousand Dollars ($100,000), or (ii) a notice of lien or levy is filed against any of Borrower’s assets by any Governmental Authority, and the same under subclauses
(i) and (ii) hereof are not, within ten (10) days after the occurrence thereof, discharged or stayed (whether through the posting of a bond or otherwise); provided, however, no Credit Extensions shall be made during any ten
(10) day cure period; or 
 (b) (i) any material portion of Borrower’s assets is attached, seized, levied on, or comes
into possession of a trustee or receiver, or (ii) any court order enjoins, restrains, or prevents Borrower from conducting all or any material part of its business; 
 8.5 Insolvency. (a) Borrower fails to be solvent as described under Section 5.6 hereof; (b) Borrower begins an Insolvency Proceeding; or (c) an Insolvency Proceeding is begun
against Borrower and is not dismissed or stayed within forty-five (45) days (but no Credit Extensions shall be made while any of the conditions described in clause (a) exist and/or until any Insolvency Proceeding is dismissed);

 8.6 Other Agreements. (a) There is, under any agreement to which Borrower or any Guarantor is a party with a
third party or parties, any default resulting in a right by such third party or parties, whether or not exercised, to accelerate the maturity of any Indebtedness in an amount individually or in the aggregate in excess of One Million Dollars
($1,000,000); or (b) there is a default under the TriplePoint Loan Agreements; 
 8.7 Judgments; Penalties.
One or more fines, penalties or final judgments, orders, or decrees for the payment of money in an amount, individually or in the aggregate, of at least Two Million Dollars ($2,000,000) (not covered by independent third-party insurance as to which
liability has been accepted by such insurance carrier) shall be rendered against Borrower by any Governmental Authority, and the same are not, within ten (10) days after the entry, assessment or issuance thereof, discharged, satisfied, or paid,
or after execution thereof, stayed or bonded pending appeal, or such judgments are not discharged prior to the expiration of any such stay (or, in the event that the terms of such judgments, order or decrees, provide for payment of such obligations
over a period of time, then Borrower shall be permitted to satisfy such obligations (“Judgment Amount”) pursuant to such terms if Borrower has sufficient funds to satisfy all outstanding Obligations plus sufficient funds to operate
Borrower’s business in the  

  
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ordinary course for a two month period and an Event of Default pursuant to this Section 8.7 shall not occur unless Borrower fails to make any payment of the Judgment Amount within ten
(10) days of when such payment is due pursuant to such terms); 
 8.8 Misrepresentations. Borrower or any Person
acting for Borrower makes any representation, warranty, or other statement now or later in this Agreement, any Loan Document or in any writing delivered to Bank or to induce Bank to enter this Agreement or any Loan Document, and such representation,
warranty, or other statement is incorrect in any material respect when made; 
 8.9 Subordinated Debt. A default
or breach occurs under any agreement between Borrower and any creditor of Borrower that signed a subordination, intercreditor, or other similar agreement with Bank, or any creditor that has signed such an agreement with Bank breaches any terms of
such agreement; 
 8.10 Governmental Approvals. Any Governmental Approval shall have been (a) revoked,
rescinded, suspended, modified in an adverse manner or not renewed in the ordinary course for a full term or (b) subject to any decision by a Governmental Authority that designates a hearing with respect to any applications for renewal of any
of such Governmental Approval, and such decision or such revocation, rescission, suspension, modification or non-renewal (i) cause, or could reasonably be expected to cause, a Material Adverse Change; or 

8.11 Change of Control. A Change of Control shall occur. 

 

	 	9	BANK’S RIGHTS AND REMEDIES 

 9.1 Rights and Remedies. Upon the occurrence and during the continuance of an Event of Default, Bank may, without notice or demand, do any or all of the following: 

(a) declare all Obligations immediately due and payable (but if an Event of Default described in Section 8.5 occurs all Obligations
are immediately due and payable without any action by Bank); 
 (b) stop advancing money or extending credit for Borrower’s
benefit under this Agreement or under any other agreement between Borrower and Bank; 
 (c) demand that Borrower
(i) deposit cash with Bank in an amount equal to at least 105% (110% for letters of credit denominated in a currency other than U.S. Dollars) of the Dollar Equivalent of the aggregate face amount of all letters of credit remaining undrawn plus
all interest, fees, and costs due or to become due in connection therewith (as estimated by Bank in its good faith business judgment), to secure all of the Obligations relating to such letters of credit, as collateral security for the repayment of
any future drawings under such letters of credit, and Borrower shall forthwith deposit and pay such amounts, and (ii) pay in advance all letter of credit fees scheduled to be paid or payable over the remaining term of any letters of
credit; provided, however, if an Event of Default described in Section 8.5 occurs, the obligation of Borrower to cash collateralize all letters of credit remaining undrawn shall automatically become effective without any
action by Bank; 
 (d) terminate any foreign exchange forward contracts; 

(e) verify the amount of, demand payment of and performance under, and collect any Accounts and General Intangibles, settle or adjust
disputes and claims directly with Account Debtors for amounts on terms and in any order that Bank considers advisable, and notify any Person owing Borrower money of Bank’s security interest in such funds; 

(f) make any payments and do any acts it considers necessary or reasonable to protect the Collateral and/or its security interest in the
Collateral. Borrower shall assemble the Collateral if Bank requests and make it available as Bank designates. Bank may enter premises where the Collateral is located, take and maintain possession of any part of the Collateral, and pay, purchase,
contest, or compromise any Lien which appears to be prior or superior to its security interest and pay all expenses incurred. Borrower grants Bank a license to enter and occupy any of its premises, without charge, to exercise any of Bank’s
rights or remedies; 
 (g) apply to the Obligations any (i) balances and deposits of Borrower it holds, or (ii) any
amount held by Bank owing to or for the credit or the account of Borrower; 
 (h) ship, reclaim, recover, store, finish,
maintain, repair, prepare for sale, advertise for sale, and sell the Collateral. Bank is hereby granted a non-exclusive, royalty-free license or other right to use, without charge, Borrower’s labels, Patents, Copyrights, mask works, rights of
use of any name, trade secrets, trade names, Trademarks, and advertising matter, or any similar property as it pertains to the Collateral, in completing production of, advertising for sale, and selling any Collateral and, in connection with
Bank’s exercise of its rights under this Section, Borrower’s rights under all licenses and all franchise agreements inure to Bank’s benefit; 

  
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 (i) place a “hold” on any account maintained with Bank and/or deliver a notice of
exclusive control, any entitlement order, or other directions or instructions pursuant to any Control Agreement or similar agreements providing control of any Collateral; 
 (j) demand and receive possession of Borrower’s Books; and 
 (k) exercise all
rights and remedies available to Bank under the Loan Documents or at law or equity, including all remedies provided under the Code (including disposal of the Collateral pursuant to the terms thereof). 

9.2 Power of Attorney. Borrower hereby irrevocably appoints Bank as its lawful attorney-in-fact, exercisable upon the occurrence
and during the continuance of an Event of Default, to: (a) endorse Borrower’s name on any checks or other forms of payment or security; (b) sign Borrower’s name on any invoice or bill of lading for any Account or drafts against
Account Debtors; (c) settle and adjust disputes and claims about the Accounts directly with Account Debtors, for amounts and on terms Bank determines reasonable; (d) make, settle, and adjust all claims under Borrower’s insurance
policies; (e) pay, contest or settle any Lien, charge, encumbrance, security interest, and adverse claim in or to the Collateral, or any judgment based thereon, or otherwise take any action to terminate or discharge the same; and
(f) transfer the Collateral into the name of Bank or a third party as the Code permits. Borrower hereby appoints Bank as its lawful attorney-in-fact to sign Borrower’s name on any documents necessary to perfect or continue the perfection
of Bank’s security interest in the Collateral regardless of whether an Event of Default has occurred until all Obligations (other than inchoate indemnity obligations) have been satisfied in full and Bank is under no further obligation to make
Credit Extensions hereunder. Bank’s foregoing appointment as Borrower’s attorney in fact, and all of Bank’s rights and powers, being coupled with an interest, are irrevocable until all Obligations (other than inchoate indemnity
obligations) have been fully repaid and performed and Bank’s obligation to provide Credit Extensions terminates. Notwithstanding anything in this Agreement, Bank shall not be entitled to exercise any rights granted to Bank under this Agreement,
including any rights under this Section 9.2, to execute any account control agreements or similar agreements to perfect any security interests in any deposit accounts or investment accounts. 

9.3 Protective Payments. If Borrower fails to obtain the insurance called for by Section 6.6 or fails to pay any premium
thereon or fails to pay any other amount which Borrower is obligated to pay under this Agreement or any other Loan Document or which may be required to preserve the Collateral, Bank may obtain such insurance or make such payment, and all amounts so
paid by Bank are Bank Expenses and immediately due and payable, bearing interest at the then highest rate applicable to the Obligations, and secured by the Collateral. Bank will make reasonable efforts to provide Borrower with notice of Bank
obtaining such insurance at the time it is obtained or within a reasonable time thereafter. No payments by Bank are deemed an agreement to make similar payments in the future or Bank’s waiver of any Event of Default. 

9.4 Application of Payments and Proceeds. If an Event of Default has occurred and is continuing, Bank shall have the right to
apply in any order any funds in its possession, whether from Borrower’s account balances, payments, proceeds realized as the result of any collection of Accounts or other disposition of the Collateral, or otherwise, to the Obligations. Bank
shall pay any surplus to Borrower by credit to the Designated Deposit Account or to other Persons legally entitled thereto; Borrower shall remain liable to Bank for any deficiency. If Bank, in its good faith business judgment, directly or
indirectly, enters into a deferred payment or other credit transaction with any purchaser at any sale of Collateral, Bank shall have the option, exercisable at any time, of either reducing the Obligations by the principal amount of the purchase
price or deferring the reduction of the Obligations until the actual receipt by Bank of cash therefor. 
 9.5
Bank’s Liability for Collateral. So long as Bank complies with its obligations under the Code and reasonable banking practices regarding the safekeeping of the Collateral in the possession or under the control of Bank, Bank shall not be
liable or responsible for: (a) the safekeeping of the Collateral; (b) any loss or damage to the Collateral; (c) any diminution in the value of the Collateral; or (d) any act or default of any carrier, warehouseman, bailee, or
other Person. Except as otherwise provided under the Code, Borrower bears all risk of loss, damage or destruction of the Collateral. 
 9.6 No Waiver; Remedies Cumulative. Bank’s failure, at any time or times, to require strict performance by Borrower of any provision of this Agreement or any other Loan Document shall not
waive, affect, or diminish any right of Bank thereafter to demand strict performance and compliance herewith or therewith. No waiver hereunder shall be effective unless signed by the party granting the waiver and then is only effective for the
specific instance and purpose for which it is given. Bank’s rights and remedies under this Agreement and the other Loan Documents are cumulative. Bank has all rights and remedies provided under the Code, by law, or in equity. Bank’s
exercise of one right or remedy is not an election and shall not preclude Bank from exercising any other remedy under this Agreement or other remedy available at law or in equity, and Bank’s waiver of any Event of Default is not a continuing
waiver. Bank’s delay in exercising any remedy is not a waiver, election, or acquiescence.  

  
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 9.7 Demand Waiver. Borrower waives demand, notice of default or dishonor, notice of
payment and nonpayment, notice of any default, nonpayment at maturity, release, compromise, settlement, extension, or renewal of accounts, documents, instruments, chattel paper, and guarantees held by Bank on which Borrower is liable.

  

	 	10	NOTICES 

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

			
	If to Borrower:	 	RingCentral, Inc.
		 	1400 Fashion Island Boulevard, Suite 700
		 	San Mateo, CA 94404
		 	Attn: Robert Lawson
		 	Fax: (650) 376-0007
		 	Email: bob.lawson@ringcentral.com
		
	with a copy to:	 	RingCentral, Inc.
		 	1400 Fashion Island Boulevard, Suite 700
		 	San Mateo, CA 94404
		 	Attn: General Counsel
		 	Fax: (650) 472-4071
		
	If to Bank:	 	Silicon Valley Bank
		 	555 Mission Street, 9th Floor
		 	San Francisco, CA 94105
		 	Attn: Jack Garza
		 	Fax: (415) 615-0076
		 	Email: jgarza@svb.com

  

	 	11	CHOICE OF LAW, VENUE AND JURY TRIAL WAIVER 

 Except as otherwise expressly provided in any of the Loan Documents, California law governs the Loan Documents without regard to principles of conflicts of law. Borrower and Bank each submit to the
exclusive jurisdiction of the State and Federal courts in Santa Clara County, California; provided however, that nothing in this Agreement shall be deemed to operate to preclude Bank from bringing suit or taking other legal action in any other
jurisdiction to realize on the Collateral or any other security for the Obligations, or to enforce a judgment or other court order in favor of Bank. Borrower expressly submits and consents in advance to such jurisdiction in any action or suit
commenced in any such court, and Borrower hereby waives any objection that it may have based upon lack of personal jurisdiction, improper venue, or forum non conveniens and hereby consents to the granting of such legal or equitable relief as is
deemed appropriate by such court. Borrower hereby waives personal service of the summons, complaints, and other process issued in such action or suit and agrees that service of such summons, complaints, and other process may be made by registered or
certified mail addressed to Borrower at the address set forth in, or subsequently provided by Borrower in accordance with, Section 10 of this Agreement and that service so made shall be deemed completed upon the earlier to occur of
Borrower’s actual receipt thereof or three (3) days after deposit in the U.S. mails, proper postage prepaid. 

  
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 TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, BORROWER AND BANK EACH WAIVE THEIR
RIGHT TO A JURY TRIAL OF ANY CLAIM OR CAUSE OF ACTION ARISING OUT OF OR BASED UPON THIS AGREEMENT, THE LOAN DOCUMENTS OR ANY CONTEMPLATED TRANSACTION, INCLUDING CONTRACT, TORT, BREACH OF DUTY AND ALL OTHER CLAIMS. THIS WAIVER IS A MATERIAL
INDUCEMENT FOR BOTH PARTIES TO ENTER INTO THIS AGREEMENT. EACH PARTY HAS REVIEWED THIS WAIVER WITH ITS COUNSEL. 
 WITHOUT
INTENDING IN ANY WAY TO LIMIT THE PARTIES’ AGREEMENT TO WAIVE THEIR RESPECTIVE RIGHT TO A TRIAL BY JURY, if the above waiver of the right to a trial by jury is not enforceable, the parties hereto agree that any and all disputes or controversies
of any nature between them arising at any time shall be decided by a reference to a private judge, mutually selected by the parties (or, if they cannot agree, by the Presiding Judge of the Santa Clara County, California Superior Court) appointed in
accordance with California Code of Civil Procedure Section 638 (or pursuant to comparable provisions of federal law if the dispute falls within the exclusive jurisdiction of the federal courts), sitting without a jury, in Santa Clara County,
California; and the parties hereby submit to the jurisdiction of such court. The reference proceedings shall be conducted pursuant to and in accordance with the provisions of California Code of Civil Procedure §§ 638 through 645.1,
inclusive. The private judge shall have the power, among others, to grant provisional relief, including without limitation, entering temporary restraining orders, issuing preliminary and permanent injunctions and appointing receivers. All such
proceedings shall be closed to the public and confidential and all records relating thereto shall be permanently sealed. If during the course of any dispute, a party desires to seek provisional relief, but a judge has not been appointed at that
point pursuant to the judicial reference procedures, then such party may apply to the Santa Clara County, California Superior Court for such relief. The proceeding before the private judge shall be conducted in the same manner as it would be before
a court under the rules of evidence applicable to judicial proceedings. The parties shall be entitled to discovery which shall be conducted in the same manner as it would be before a court under the rules of discovery applicable to judicial
proceedings. The private judge shall oversee discovery and may enforce all discovery rules and order applicable to judicial proceedings in the same manner as a trial court judge. The parties agree that the selected or appointed private judge shall
have the power to decide all issues in the action or proceeding, whether of fact or of law, and shall report a statement of decision thereon pursuant to the California Code of Civil Procedure § 644(a). Nothing in this paragraph shall limit the
right of any party at any time to exercise self-help remedies, foreclose against collateral, or obtain provisional remedies. The private judge shall also determine all issues relating to the applicability, interpretation, and enforceability of this
paragraph. 
 This Section 11 shall survive the termination of this Agreement. 

 

	 	12	GENERAL PROVISIONS  

12.1 Termination Prior to Revolving Line Maturity Date; Survival. All covenants, representations and warranties made in this
Agreement continue in full force until this Agreement has terminated pursuant to its terms and all Obligations have been satisfied. So long as Borrower has satisfied the Obligations (other than inchoate indemnity obligations, any other obligations
which, by their terms, are to survive the termination of this Agreement, and any Obligations under Bank Services Agreements that are cash collateralized in accordance with Section 4.1 of this Agreement), this Agreement may be terminated prior
to the Revolving Line Maturity Date by Borrower, effective three (3) Business Days after written notice of termination is given to Bank, so long as Borrower complies with the terms of Section 2.1.2(c), if applicable. Those obligations that
are expressly specified in this Agreement as surviving this Agreement’s termination shall continue to survive notwithstanding this Agreement’s termination. 
 12.2 Successors and Assigns. This Agreement binds and is for the benefit of the successors and permitted assigns of each party. Borrower may not assign this Agreement or any rights or obligations
under it without Bank’s prior written consent (which may be granted or withheld in Bank’s discretion). Bank has the right, without the consent of or notice to Borrower, to sell, transfer, assign, negotiate, or grant participation in all or
any part of, or any interest in, Bank’s obligations, rights, and benefits under this Agreement and the other Loan Documents (other than the Warrant, as to which assignment, transfer and other such actions are governed by the terms thereof). 

 12.3 Indemnification. Borrower agrees to indemnify, defend and hold Bank and its directors, officers, employees,
agents, attorneys, or any other Person affiliated with or representing Bank (each, an “Indemnified Person”) harmless against: (i) all obligations, demands, claims, and liabilities (collectively,
“Claims”) claimed or asserted by any other party in connection with the transactions contemplated by the Loan Documents; and (ii) all losses or expenses (including Bank Expenses) in any way suffered, incurred, or paid by such
Indemnified Person as  

  
 -17-

 
a result of, following from, consequential to, or arising from transactions between Bank and Borrower contemplated by the Loan Documents (including reasonable attorneys’ fees and expenses),
except for Claims and/or losses directly caused by such Indemnified Person’s gross negligence or willful misconduct. 

This Section 12.3 shall survive until all statutes of limitation with respect to the Claims, losses, and expenses for which
indemnity is given shall have run. 
 12.4 Time of Essence. Time is of the essence for the performance of all Obligations
in this Agreement. 
 12.5 Correction of Loan Documents. Bank may correct patent errors and fill in any blanks in the
Loan Documents consistent with the agreement of the parties. 
 12.6 Severability of Provisions. Each provision of this
Agreement is severable from every other provision in determining the enforceability of any provision. 
 12.7 Amendments in
Writing; Waiver; Integration. No purported amendment or modification of any Loan Document, or waiver, discharge or termination of any obligation under any Loan Document, shall be enforceable or admissible unless, and only to the extent,
expressly set forth in a writing signed by the party against which enforcement or admission is sought. Without limiting the generality of the foregoing, no oral promise or statement, nor any action, inaction, delay, failure to require performance or
course of conduct shall operate as, or evidence, an amendment, supplement or waiver or have any other effect on any Loan Document. Any waiver granted shall be limited to the specific circumstance expressly described in it, and shall not apply to any
subsequent or other circumstance, whether similar or dissimilar, or give rise to, or evidence, any obligation or commitment to grant any further waiver. The Loan Documents represent the entire agreement about this subject matter and supersede prior
negotiations or agreements. All prior agreements, understandings, representations, warranties, and negotiations between the parties about the subject matter of the Loan Documents merge into the Loan Documents. 

12.8 Counterparts. This Agreement may be executed in any number of counterparts and by different parties on separate counterparts,
each of which, when executed and delivered, is an original, and all taken together, constitute one Agreement. 
 12.9
Confidentiality. In handling any confidential information, Bank shall exercise the same degree of care that it exercises for its own proprietary information, but disclosure of information may be made: (a) to Bank’s Subsidiaries or
Affiliates (such Subsidiaries and Affiliates, together with Bank, collectively, “Bank Entities”) provided that they shall be bound by the confidentiality provisions herein; (b) to prospective transferees or purchasers of any
interest in the Credit Extensions (provided, however, Bank shall use its best efforts to obtain any prospective transferee’s or purchaser’s agreement to the terms of this provision); (c) as required by law, regulation,
subpoena, or other order; (d) to Bank’s regulators or as otherwise required in connection with Bank’s examination or audit; (e) as Bank considers appropriate in exercising remedies under the Loan Documents; and (f) to
third-party service providers of Bank so long as such service providers have executed a confidentiality agreement with Bank with terms no less restrictive than those contained herein. Confidential information does not include information that
is either: (i) in the public domain or in Bank’s possession when disclosed to Bank, or becomes part of the public domain (other than as a result of its disclosure by Bank in violation of this Agreement) after disclosure to Bank; or
(ii) disclosed to Bank by a third party, if Bank does not know that the third party is prohibited from disclosing the information. 
 Bank Entities may use anonymous forms of confidential information for aggregate datasets, for analyses or reporting, and for any other uses not expressly prohibited in writing by Borrower. The provisions
of the immediately preceding sentence shall survive termination of this Agreement. 
 12.10 Attorneys’ Fees, Costs and
Expenses. In any action or proceeding between Borrower and Bank arising out of or relating to the Loan Documents, the prevailing party shall be entitled to recover its reasonable attorneys’ fees and other costs and expenses incurred, in
addition to any other relief to which it may be entitled. 
 12.11 Right of Set Off. Borrower hereby grants to Bank, a
lien, security interest and right of set off as security for all Obligations to Bank, whether now existing or hereafter arising upon and against all deposits, credits, collateral and property, now or hereafter in the possession, custody, safekeeping
or control of Bank or any entity under the control of Bank (including a Bank subsidiary) or in transit to any of them. At any time after the occurrence and during the continuance of an Event of Default, without demand or notice, Bank may set off the
same or any part thereof and apply the same to any liability or obligation of Borrower even though unmatured and regardless of the adequacy of any other collateral securing the Obligations. ANY AND ALL RIGHTS TO REQUIRE BANK TO EXERCISE ITS RIGHTS
OR REMEDIES WITH RESPECT TO ANY OTHER COLLATERAL WHICH SECURES THE OBLIGATIONS, PRIOR TO EXERCISING ITS RIGHT OF SETOFF WITH RESPECT TO SUCH DEPOSITS, CREDITS OR OTHER PROPERTY OF BORROWER ARE HEREBY KNOWINGLY, VOLUNTARILY AND IRREVOCABLY WAIVED.

  
 -18-

 12.12 Captions. The headings used in this Agreement are for convenience only and
shall not affect the interpretation of this Agreement. 
 12.13 Construction of Agreement. The parties mutually
acknowledge that they and their attorneys have participated in the preparation and negotiation of this Agreement. In cases of uncertainty this Agreement shall be construed without regard to which of the parties caused the uncertainty to exist.

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

12.15 Third Parties. Nothing in this Agreement, whether express or implied, is intended to: (a) confer any benefits, rights
or remedies under or by reason of this Agreement on any Persons other than the express parties to it and their respective permitted successors and assigns; (b) relieve or discharge the obligation or liability of any Person not an express party
to this Agreement; or (c) give any Person not an express party to this Agreement any right of subrogation or action against any party to this Agreement. 
 12.16 Borrower Liability. Any Borrower may, acting singly, request Credit Extensions hereunder. Each Borrower hereby appoints each other Borrower as agent for the other for all purposes
hereunder, including with respect to requesting Credit Extensions hereunder. Each Borrower hereunder shall be jointly and severally obligated to repay all Credit Extensions made hereunder, regardless of which Borrower actually receives said Credit
Extension, as if each Borrower hereunder directly received all Credit Extensions. Each Borrower waives (a) any suretyship defenses available to it under the Code or any other applicable law, including, without limitation, the benefit of
California Civil Code Section 2815 permitting revocation as to future transactions and the benefit of California Civil Code Sections 1432, 2809, 2810, 2819, 2839, 2845, 2847, 2848, 2849, 2850, and 2899 and 3433, and (b) any right to
require Bank to: (i) proceed against any Borrower or any other person; (ii) proceed against or exhaust any security; or (iii) pursue any other remedy. Bank may exercise or not exercise any right or remedy it has against any
Borrower or any security it holds (including the right to foreclose by judicial or non-judicial sale) without affecting any Borrower’s liability. Notwithstanding any other provision of this Agreement or other related document, until all
Obligations (other than inchoate indemnity obligations) have been paid in full, each Borrower irrevocably waives all rights that it may have at law or in equity (including, without limitation, any law subrogating Borrower to the rights of Bank under
this Agreement) to seek contribution, indemnification or any other form of reimbursement from any other Borrower, or any other Person now or hereafter primarily or secondarily liable for any of the Obligations, for any payment made by Borrower with
respect to the Obligations in connection with this Agreement or otherwise and all rights that it might have to benefit from, or to participate in, any security for the Obligations as a result of any payment made by Borrower with respect to the
Obligations in connection with this Agreement or otherwise. Any agreement providing for indemnification, reimbursement or any other arrangement prohibited under this Section shall be null and void. If any payment is made to a Borrower in
contravention of this Section, such Borrower shall hold such payment in trust for Bank and such payment shall be promptly delivered to Bank for application to the Obligations, whether matured or unmatured. 

12.17 Intercreditor Agreement. Notwithstanding anything in this Agreement, if there is a conflict between the Intercreditor
Agreement and this Agreement, the terms of the Intercreditor Agreement shall control. 
 12.18 No Novation.
Nothing contained herein shall in any way impair the Prior Loan Agreement and other Loan Documents now held for the Obligations, nor affect or impair any rights, powers, or remedies under the Prior Loan Agreement or any Loan Document, it being the
intent of the parties hereto that this Agreement shall not constitute a novation of the Prior Loan Agreement or an accord and satisfaction of the Obligations. Borrower hereby ratifies and reaffirms the validity and enforceability of all of the liens
and security interests heretofore granted pursuant to the Loan Documents, as collateral security for the Obligations, and acknowledges that all of such liens and security interests, and all Collateral heretofore pledged as security for the
Obligations, continues to be and remains Collateral for the Obligations from and after the date hereof. 
 12.19
Default Waiver. Borrower is currently in default of the Prior Loan Agreement for failing to comply with the covenant set forth in Section 6.13 of the Prior Loan Agreement for certain periods prior to the Effective Date (as defined herein)
(the “Existing Default”). Borrower has requested that Bank waive its rights and remedies against Borrower, limited specifically to the Existing Default. Although Bank is under no obligation to do so, Bank hereby waives
Borrower’s Existing Default under the Prior Loan Agreement. Bank’s waiver of Borrower’s compliance of this covenant shall apply only to the foregoing periods. Bank’s agreement to waive the above-described default shall not limit
or impair Bank’s right to demand strict performance of all other covenants set forth in this Agreement as of any date. 

  
 -19-

	 	13	DEFINITIONS 

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

 “Account” is any “account” as defined in the Code with such additions to such term as may
hereafter be made, and includes, without limitation, all subscription Accounts, all Accounts containing Recurring Revenue and all accounts receivable and other sums owing to Borrower. 

“Account Debtor” is any “account debtor” as defined in the Code with such additions to such term as may
hereafter be made, including, without limitation, subscription Account Debtors of the Borrower. 
 “Advance” or
“Advances” means a revolving credit loan (or revolving credit loans) under the Revolving Line. 

“Affiliate” is, with respect to any Person, each other Person that owns or controls directly or indirectly the Person,
any Person that controls or is controlled by or is under common control with the Person, and each of that Person’s senior executive officers, directors, partners and, for any Person that is a limited liability company, that Person’s
managers and members. 
 “Agreement” is defined in the preamble hereof. 

“Availability Amount” is (a) the lesser of (i) the Revolving Line minus the outstanding principal balance of
any Growth Capital Advances, or (ii) the CMRR multiplied by the Advance Rate, minus (b) the outstanding principal balance of any Advances. 
 The following definitions are utilized in calculating and determining the Availability Amount: 
 “Advance Rate” is the product of two (2) multiplied by the Customer Retention Percentage. The Advance Rate shall be calculated by Bank based on information
provided by Borrower and acceptable to Bank, in its sole discretion, monthly, on the last day of each fiscal month, or such earlier time as Bank may determine necessary, in its sole discretion. 

“ARPU” is, as of any date of determination, (i) the sum of the Monthly ARPU for each of the trailing three
(3) months, divided by (ii) three (3). 
 “Churn Rate” is, as of any date of
determination, the Lost Revenue Percentage multiplied by twelve (12). 
 “CMRR” is, for any
month, the product of (x) the number of active subscribers of Borrower as of the end of such month multiplied by (y) the ARPU; provided that Bank may decrease the foregoing amounts in its sole discretion,
based on events, conditions, contingencies or risks which, as reasonably determined by Bank, may adversely affect the Collateral. 
 “Customer Retention Percentage” is, as of any date of determination, one hundred percent (100%) minus the Churn Rate. 

“Eligible Customer Accounts” means subscription Accounts of Borrower which arise in the ordinary course of
Borrower’s business that (i) meet all of Borrower’s representations and warranties described in Section 5.3 and (ii) are or may be due and owing from Account Debtors deemed acceptable to Bank in its sole discretion;
provided that Bank reserves the right at any time and from time to time to exclude and/or remove any Account from the definition of Eligible Customer Accounts, in its sole discretion. 

“Existing Customer Accounts” are, on any date of determination, all Eligible Customer Accounts consisting of customers
who have executed a subscription commitment with Borrower that are not New Customer Accounts or accounts that have been lost. 

“Lost Revenue” is, for any period, the total Recurring Revenue associated with the subscription Accounts of Borrower
that were lost during the trailing three (3) month period ended as of such date of determination. 

  
 -20-

 “Lost Revenue Percentage” is, measured on a trailing three month basis
ending as of any date of determination, (i) the Lost Revenue for such trailing three month period divided by (ii) the total Recurring Revenue for such trailing three month period divided by (iii) three (3).

 “Monthly ARPU” is, for any month, (i) the Recurring Revenue of Borrower from Existing Customer Accounts
plus New Customer Accounts in each case measured on a trailing one-month basis ending on the date of determination, divided by (ii) the total number of Eligible Customer Accounts of Borrower as of such date of determination.

 “New Customer Accounts” are, on any date of determination, all Eligible Customer Accounts consisting of
customers who will execute an annual subscription commitment with Borrower that will be activated and billed within the succeeding thirty (30) day period after such date of determination that are not Existing Customer Accounts or accounts that
have been lost. 
 “Recurring Revenue” is subscription revenue of Borrower received from Eligible Customer
Accounts in the ordinary course of Borrower’s business, determined in accordance with GAAP and specifically excluding revenue or accounts receivable based on (i) sales of inventory, goods, or equipment, (ii) transaction revenue not
received in the ordinary course of business, (iii) sales of services not in the ordinary course of business, (iv) revenue received due to one-time, non-recurring transactions, installation and/or set-up fees, (v) add-on purchases by
Borrower’s existing clients not resulting in a continuing stream of revenue, and (vi) such other exclusions as Bank shall determine, in its reasonable discretion. 
 “Bank” is defined in the preamble hereof. 
 “Bank
Entities” is defined in Section 12.9. 
 “Bank Expenses” are all audit fees and expenses, costs, and
expenses (including reasonable attorneys’ fees and expenses) for preparing, amending, negotiating, administering, defending and enforcing the Loan Documents (including, without limitation, those incurred in connection with appeals or Insolvency
Proceedings) or otherwise incurred with respect to Borrower. 
 “Bank Services” are any products, credit
services, and/or financial accommodations previously, now, or hereafter provided to Borrower or any of its Subsidiaries by Bank or any Bank Affiliate, including, without limitation, any letters of credit, cash management services (including, without
limitation, merchant services, direct deposit of payroll, business credit cards, and check cashing services), interest rate swap arrangements, and foreign exchange services as any such products or services may be identified in Bank’s various
agreements related thereto (each, a “Bank Services Agreement”). 
 “Borrower” is defined in
the preamble hereof. 
 “Borrower’s Books” are all Borrower’s books and records including ledgers,
federal and state tax returns, records regarding Borrower’s assets or liabilities, the Collateral, business operations or financial condition, and all computer programs or storage or any equipment containing such information. 

“Borrowing Base Certificate” is that certain certificate in the form attached hereto as Exhibit E. 

“Borrowing Resolutions” are, with respect to any Person, those resolutions substantially in the form attached hereto as
Exhibit C. 
 “Business Day” is any day that is not a Saturday, Sunday or a day on which Bank is closed.

 “Cash Burn” is measured on a monthly basis and shall mean the product of (i) negative one (-1)
multiplied by (ii) the lesser of (A) the sum of (a) Borrower’s earnings/losses before interest, taxes, depreciation and amortization, determined in accordance with GAAP, plus (b) stock based compensation, plus (c) other
non-cash expenses, plus or minus (d) the change in Deferred Revenue, minus (e) un-financed capital expenditures, or (B) Zero Dollars ($0.00). 
 “Cash Equivalents” means (a) marketable direct obligations issued or unconditionally guaranteed by the United States or any agency or any State thereof having maturities of not more
than one (1) year from the date of acquisition; (b) commercial paper maturing no more than one (1) year after its creation and having the highest rating from either Standard & Poor’s Ratings Group or Moody’s
Investors Service, Inc.; and (c) Bank’s certificates of deposit issued maturing no more than one (1) year after issue. 

  
 -21-

 “Change of Control” means (i) any transaction or series of related
transactions in which the stockholders of RingCentral who were not stockholders immediately prior to the first such transaction own more than forty-nine percent (49%) of the voting stock of RingCentral immediately after giving effect to such
transaction or related series of such related transactions (other than by the sale of RingCentral’s equity securities in a public officer or to venture capital investors so long as Borrower identifies to Bank the venture capital investors prior
to the closing of the transaction and provides to Bank a description of the material terms of the transaction), or (ii) RCLEC ceases to be a wholly-owned Subsidiary of RingCentral unless in a manner as permitted under Section 7.3. 

“Claims” is defined in Section 12.3. 
 “Code” is the Uniform Commercial Code, as the same may, from time to time, be enacted and in effect in the State of California; provided, that, to the extent that the Code is used to
define any term herein or in any Loan Document and such term is defined differently in different Articles or Divisions of the Code, the definition of such term contained in Article or Division 9 shall govern; provided further, that in the event
that, by reason of mandatory provisions of law, any or all of the attachment, perfection, or priority of, or remedies with respect to, Bank’s Lien on any Collateral is governed by the Uniform Commercial Code in effect in a jurisdiction other
than the State of California, the term “Code” shall mean the Uniform Commercial Code as enacted and in effect in such other jurisdiction solely for purposes of the provisions thereof relating to such attachment, perfection,
priority, or remedies and for purposes of definitions relating to such provisions. 
 “Collateral” is any and
all properties, rights and assets of Borrower described on Exhibit A. 
 “Collateral Account” is any
Deposit Account, Securities Account, or Commodity Account. 
 “Commodity Account” is any “commodity
account” as defined in the Code with such additions to such term as may hereafter be made. 

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

“Default” means any event which with notice or passage of time or both, would constitute an Event of Default.

 “Default Rate” is defined in Section 2.3(b). 

“Deferred Revenue” is all amounts received or invoiced in advance of performance under contracts and not yet recognized
as revenue. 
 “Deposit Account” is any “deposit account” as defined in the Code with such additions
to such term as may hereafter be made. 

  
 -22-

 “Designated Deposit Account” is the multicurrency account, denominated in
Dollars, account number xxxxxxx287, maintained by Borrower with Bank. 
 “Dollars,”
“dollars” or use of the sign “$” means only lawful money of the United States and not any other currency, regardless of whether that currency uses the “$” sign to denote its currency or may be readily converted
into lawful money of the United States. 
 “Dollar Equivalent” is, at any time, (a) with respect to any
amount denominated in Dollars, such amount, and (b) with respect to any amount denominated in a Foreign Currency, the equivalent amount therefor in Dollars as determined by Bank at such time on the basis of the then-prevailing rate of exchange
in San Francisco, California, for sales of the Foreign Currency for transfer to the country issuing such Foreign Currency. 

“Domestic Subsidiary” means a Subsidiary organized under the laws of the United States or any state or territory thereof
or the District of Columbia. 
 “Effective Date” is defined in the preamble. 

“Equipment” is all “equipment” as defined in the Code with such additions to such term as may hereafter
be made, and includes without limitation all machinery, fixtures, goods, vehicles (including motor vehicles and trailers), and any interest in any of the foregoing. 
 “Equipment Loan Agreement” means that certain Plain English Equipment Loan and Security Agreement by and between RingCentral, RCLEC and TriplePoint Capital LLC, dated as of June 22,
2012, as amended and supplemented from time to time, or restated, refinanced or replaced. 
 “ERISA” is the
Employee Retirement Income Security Act of 1974, and its regulations. 
 “Event of Default” is defined in
Section 8. 
 “Exchange Act” is the Securities Exchange Act of 1934, as amended. 

“Existing Default” is defined in Section 12.19. 

“Final Payment” is a payment (in addition to and not a substitution for the regular monthly payments of principal plus
accrued interest) due in accordance with Section 2.1.2 above, equal to the original principal amount of the applicable Growth Capital Advance multiplied by the Final Payment Percentage. 

“Final Payment Percentage” is one-half of one percent (0.50%). 

“First Tranche” is defined in Section 2.1.4(a)(i). 

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

“Foreign Subsidiary” means any Subsidiary which is not a Domestic Subsidiary. 

“Funding Date” is any date on which a Credit Extension is made to or for the account of Borrower which shall be a
Business Day. 
 “FX Contract” is any foreign exchange contract by and between Borrower and Bank under which
Borrower commits to purchase from or sell to Bank a specific amount of Foreign Currency on a specified date. 

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

  
 -23-

 “Growth Capital Advance” is a “Growth Capital Advance” as
advanced under, and defined in, the Prior Loan Agreement and is referenced in Section 2.1.2. 
 “Growth Capital
Maturity Date” is March 1, 2015. 
 “Guarantor” is any Person providing a Guaranty in favor of
Bank. 
 “Guaranty” is any guarantee of all or any part of the Obligations, as the same may from time to time
be amended, restated, modified or otherwise supplemented. 
 “Indebtedness” is (a) indebtedness for
borrowed money or the deferred price of property or services, such as reimbursement and other obligations for surety bonds and letters of credit, (b) obligations evidenced by notes, bonds, debentures or similar instruments, (c) capital
lease obligations, and (d) Contingent Obligations. 
 “Indemnified Person” is defined in Section 12.3.

 “Initial Public Offering” is the initial, underwritten public offering and sale of Borrower’s common
stock pursuant to an effective registration statement under the Exchange Act. 
 “Insolvency Proceeding” is any
proceeding by or against any Person under the United States Bankruptcy Code, or any other bankruptcy or insolvency law, including assignments for the benefit of creditors, compositions, extensions generally with its creditors, or proceedings seeking
reorganization, arrangement, or other relief. 
 “Intellectual Property” means, with respect to any Person, all
of such Person’s right, title, and interest in and to the following: 
  

	 	(a)	its Copyrights, Trademarks and Patents; 

  

	 	(b)	any and all trade secrets and trade secret rights, including, without limitation, any rights to unpatented inventions, know-how, operating manuals;

  

	 	(c)	any and all source code; 

  

	 	(d)	any and all design rights which may be available to such Person; 

  

	 	(e)	any and all claims for damages by way of past, present and future infringement of any of the foregoing, with the right, but not the obligation, to sue for and collect
such damages for said use or infringement of the Intellectual Property rights identified above; and 

  

	 	(f)	all amendments, renewals and extensions of any of the Copyrights, Trademarks or Patents. 

“Intercreditor Agreement” means that certain Amended and Restated Intercreditor Agreement by and between Bank and
TriplePoint Capital LLC, dated on or about the Effective Date, as amended from time to time. 
 “Inventory” is
all “inventory” as defined in the Code in effect on the date hereof with such additions to such term as may hereafter be made, and includes without limitation all merchandise, raw materials, parts, supplies, packing and shipping materials,
work in process and finished products, including without limitation such inventory as is temporarily out of Borrower’s custody or possession or in transit and including any returned goods and any documents of title representing any of the
above. 
 “Investment” is any beneficial ownership interest in any Person (including stock, partnership
interest or other securities), and any loan, advance or capital contribution to any Person. 
 “Judgment
Amount” is defined in Section 8.7. 
 “Letter of Credit” is a standby or commercial letter of credit
issued by Bank upon request of Borrower based upon an application, guarantee, indemnity or similar agreement. 

  
 -24-

 “Lien” is a claim, mortgage, deed of trust, levy, charge, pledge, security
interest or other encumbrance of any kind, whether voluntarily incurred or arising by operation of law or otherwise against any property. 
 “Liquidity” is, at any time, the sum of (a) Borrower’s unrestricted cash and Cash Equivalents maintained with Bank and Bank’s Affiliates, and (b) the Availability
Amount. 
 “Loan Documents” are, collectively, this Agreement and any schedules, exhibits, certificates,
notices, and any other documents related to this Agreement, the Warrant, the Stock Pledge Agreements, the Perfection Certificate, any Bank Services Agreement, any subordination agreement, any note, or notes or guaranties executed by Borrower or any
Guarantor, and any other present or future agreement by Borrower and/or any Guarantor with or for the benefit of Bank in connection with this Agreement or Bank Services, all as amended, restated, or otherwise modified. 

“Material Adverse Change” is (a) a material impairment in the perfection or priority of Bank’s Lien in the
Collateral or in the value of such Collateral; (b) a material adverse change in the business, operations, or condition (financial or otherwise) of Borrower; or (c) a material impairment of the prospect of repayment of any portion of the
Obligations. 
 “Monthly/Quarterly Financial Statements” is defined in Section 6.2(ii). 

“Obligations” are Borrower’s obligation to pay when due any debts, principal, interest, fees, Bank Expenses and
other amounts Borrower owes Bank now or later, whether under this Agreement, the other Loan Documents (other than the Warrant), or otherwise, including, without limitation, all obligations relating to letters of credit (including reimbursement
obligations for drawn and undrawn letters of credit), cash management services, and foreign exchange contracts, if any, and including interest accruing after Insolvency Proceedings begin and debts, liabilities, or obligations of Borrower assigned to
Bank, and to perform Borrower’s duties under the Loan Documents (other than the Warrant). 
 “Operating
Documents” are, for any Person, such Person’s formation documents, as certified by the Secretary of State (or equivalent agency) of such Person’s jurisdiction of organization on a date that is no earlier than thirty (30) days
prior to the Effective Date, and, (a) if such Person is a corporation, its bylaws in current form, (b) if such Person is a limited liability company, its limited liability company agreement (or similar agreement), and (c) if such
Person is a partnership, its partnership agreement (or similar agreement), each of the foregoing with all current amendments or modifications thereto. 
 “Overadvance” is defined in Section 2.2. 

“Patents” means all patents, patent applications and like protections including without limitation improvements,
divisions, continuations, renewals, reissues, extensions and continuations-in-part of the same. 
 “Payment/Advance
Form” is that certain form attached hereto as Exhibit D. 
 “Perfection Certificate” is defined
in Section 5.1. 
 “Permitted Acquisition” is any merger, consolidation or acquisition permitted pursuant to
Section 7.3 hereof. 
 “Permitted Indebtedness” is: 

(a) Borrower’s Indebtedness to Bank under this Agreement and the other Loan Documents; 

(b) Indebtedness existing on the Effective Date and shown on the Perfection Certificate; 

(c) Subordinated Debt, if any; 
 (d) unsecured Indebtedness to trade creditors incurred in the ordinary course of business; 
 (e) Indebtedness incurred as a result of endorsing negotiable instruments received in the ordinary course of business; 
 (f) Indebtedness in an aggregate principal amount not to exceed One Million Dollars ($1,000,000) secured by Permitted Liens; 
 (g) extensions, refinancings, modifications, amendments and restatements of any items of Permitted Indebtedness (a) through (f) above, provided that the principal amount thereof is not increased
or the terms thereof are not modified to impose more burdensome terms upon Borrower or its Subsidiary, as the case may be; 

  
 -25-

 (h) Indebtedness that otherwise constitutes Permitted Investments under paragraph (f);

 (i) Indebtedness consisting of interest rate, currency, or commodity swap agreements, interest rate cap or collar agreements
or arrangements entered into in the ordinary course of business and designated to protect a Person against fluctuations in interest rates, currency exchange rates, or commodity prices; 

(j) other unsecured Indebtedness in an aggregate amount outstanding not to exceed Four Hundred Thousand Dollars ($400,000) at any time;

 (k) Indebtedness in a maximum principal amount of Fifteen Million Dollars ($15,000,000) under that certain Plain English
Growth Capital Loan and Security Agreement by and between RingCentral and TriplePoint Capital LLC, dated as of June 22, 2012, as amended and supplemented from time to time, or restated, refinanced or replaced, and Indebtedness in a maximum
principal amount of Ten Million Dollars ($10,000,000) under the Equipment Loan Agreement; 
 (l) Indebtedness in a principal
amount not to exceed Two Million Dollars ($2,000,000) outstanding at any time for the financing of software licensing, including, without limitation, Indebtedness owed to Somerset Capital Group, Ltd. in connection with the financing of software
licenses with VMWare, Inc.; 
 (m) Indebtedness not to exceed Five Million Dollars ($5,000,000) consisting of reserves
maintained for the potential payment of accrued sales and use taxes in various states; and 
 (n) Borrower’s guaranties of
(i) commercial contracts entered into by its Subsidiaries in the ordinary course of business and (ii) credit cards of its employees and Subsidiaries, provided that guaranties under both clauses (i) and (ii) shall not exceed in
the aggregate of One Million Dollars ($1,000,000) outstanding at any time. 
 “Permitted Investments” are:

 (a) Investments (including, without limitation, Subsidiaries) shown on the Perfection Certificate and existing on the
Effective Date; 
 (b) Investments consisting of (i) Cash Equivalents, and (ii) any Investments permitted by
Borrower’s investment policy, as amended from time to time, provided that such investment policy (and any such amendment thereto) has been approved in writing by Bank; 
 (c) Investments consisting of the endorsement of negotiable instruments for deposit or collection or similar transactions in the ordinary course of Borrower’s business; 

(d) Investments consisting of deposit accounts and investment accounts, provided that with respect to any deposit accounts maintained
with Bank, Bank shall have a perfected security interest in such deposit account; 
 (e) Investments accepted in connection with
Transfers permitted by Section 7.1; 
 (f) Investments consisting of the creation of a Subsidiary for the purpose of
consummating a merger transaction permitted by Section 7.3 of this Agreement, which is otherwise a Permitted Investment; 

(g) Investments of Subsidiaries in or to other Subsidiaries or Borrower and Investments by Borrower in Subsidiaries not to exceed One
Hundred Thousand Dollars ($100,000) in the aggregate in any fiscal year except as follows: (1) Borrower may make Investments up to One Million Five Hundred Thousand Dollars ($1,500,000) per fiscal quarter into its Subsidiary formed under the
laws of the United Kingdom, (2) Borrower may make Investments up to Five Hundred Thousand Dollars ($500,000) per fiscal quarter into its Subsidiary formed under the laws of the People’s Republic of China, (3) Borrower may make
Investments up One Million Dollars ($1,000,000) per fiscal quarter into its Subsidiary formed under the laws of Canada, (4) Borrower may make Investments up One Hundred Fifty Thousand Dollars ($150,000) per fiscal year into its Subsidiary
formed under the laws of the Netherlands, (5) Borrower may make Investments up One Hundred Fifty Thousand Dollars ($150,000) per fiscal year into its Subsidiary formed under the laws of Switzerland, and (6) Borrower and Bank shall meet and
confer in good faith regarding whether it is commercially reasonable for Borrower to be permitted to make Investments in excess of One Hundred Thousand Dollars ($100,000) in other Subsidiaries in connection with third-party commercial agreements
involving such Subsidiary; 
 (h) Investments consisting of (i) travel advances and employee relocation loans and other
employee loans and advances in the ordinary course of business, and (ii) loans to employees, officers or directors relating to the purchase of equity securities of Borrower or its Subsidiaries pursuant to employee stock purchase plans or
agreements approved by Borrower’s Board of Directors; 

  
 -26-

 (i) 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; 

(j) Investments consisting of notes receivable of, or prepaid royalties and other credit extensions, to customers and suppliers who are
not Affiliates, in the ordinary course of business; provided that this paragraph (j) shall not apply to Investments of Borrower in any Subsidiary; 
 (k) Investments consisting of interest rate, currency, or commodity swap agreements, interest rate cap or collar agreements or arrangements entered into in the ordinary course of business and designated
to protect a Person against fluctuations in interest rates, currency exchange rates, or commodity prices; 
 (l) joint ventures
or strategic alliances in the ordinary course of Borrower’s business consisting of the non-exclusive licensing of technology, the development of technology or the providing of technical support, provided that any cash investments by Borrower do
not exceed Two Hundred Fifty Thousand Dollars ($250,000) in the aggregate in any twelve-month period; 
 (m) other Investments
in an aggregate amount not to exceed $400,000 in any twelve-month period; 
 (n) Investment in Subsidiaries necessary to
establish co-location facilities or data centers in an amount not to exceed Three Million Dollars ($3,000,000) in the aggregate in any twelve-month period; and 
 (o) Permitted Acquisitions shall be permitted in accordance with the terms of this Agreement, including the formation of any Subsidiary in connection with such Permitted Acquisitions. 

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

(b) Liens for taxes, fees, assessments or other government charges or levies, either (i) not due and payable or (ii) being
contested in good faith and for which Borrower maintains adequate reserves on its Books, provided that no notice of any such Lien has been filed or recorded under the Internal Revenue Code of 1986, as amended, and the Treasury Regulations
adopted thereunder; 
 (c) purchase money Liens (i) on Equipment acquired or held by Borrower incurred for financing the
acquisition of the Equipment securing no more than Five Hundred Thousand Dollars ($500,000) in the aggregate amount outstanding, or (ii) existing on Equipment when acquired, if the Lien is confined to the property and improvements and the
proceeds of the Equipment; 
 (d) Liens of carriers, warehousemen, suppliers, or other Persons that are possessory in nature
arising in the ordinary course of business so long as such Liens attach only to Inventory and which are not delinquent or remain payable without penalty or which are being contested in good faith and by appropriate proceedings which proceedings have
the effect of preventing the forfeiture or sale of the property subject thereto; 
 (e) Liens to secure payment of workers’
compensation, employment insurance, old-age pensions, social security and other like obligations incurred in the ordinary course of business (other than Liens imposed by ERISA); 

(f) Liens incurred in the extension, renewal or refinancing of the indebtedness secured by Liens described in (a) through (c), but
any extension, renewal or replacement Lien must be limited to the property encumbered by the existing Lien and the principal amount of the indebtedness may not increase; 
 (g) leases or subleases of real property granted in the ordinary course of business, and leases, subleases, non-exclusive licenses or sublicenses of property (other than real property or Intellectual
Property) granted in the ordinary course of Borrower’s business, if the leases, subleases, licenses and sublicenses do not prohibit granting Bank a security interest; 
 (h) non-exclusive license of Intellectual Property granted to third parties in the ordinary course of business, and licenses of Intellectual Property that could not result in a legal transfer of title of
the licensed property that may be exclusive in respects other than territory and that may be exclusive as to territory only as to discreet geographical areas outside of the United States; 

(i) Liens arising from judgments, decrees or attachments in circumstances not constituting an Event of Default under Section 8.4 or
8.7; 

  
 -27-

 (j) Liens in favor of other financial institutions arising in connection with
Borrower’s deposit and/or securities accounts held at such institutions, provided that such security interests secure customary fees and expenses and not borrowed money; 
 (k) Liens in favor of custom and revenue authorities arising as a matter of law to secure the payment of custom duties in connection with the importation of goods; 

(l) deposits to secure the performance of bids, trade contracts (other than for borrowed money), contracts for the purchase of property
permitted hereunder, real property leases, statutory obligations, surety and appeal bonds, performance bonds and other obligations of a like nature, in each case, incurred in the ordinary course of business and not representing an obligation for
borrowed money; and 
 (m) Liens created under the TriplePoint Loan Agreements. 

“Person” is any individual, sole proprietorship, partnership, limited liability company, joint venture, company, trust,
unincorporated organization, association, corporation, institution, public benefit corporation, firm, joint stock company, estate, entity or government agency. 
 “Prime Rate” is the rate of interest per annum from time to time published in the money rates section of The Wall Street Journal or any successor publication thereto as the
“prime rate” then in effect; provided that if such rate of interest, as set forth from time to time in the money rates section of The Wall Street Journal, becomes unavailable for any reason as determined by Bank, the “Prime
Rate” shall mean the rate of interest per annum announced by Bank as its prime rate in effect at its principal office in the State of California (such Bank announced Prime Rate not being intended to be the lowest rate of interest charged by
Bank in connection with extensions of credit to debtors). 
 “Prior Loan Agreement” is defined in the recitals
hereto. 
 “Registered Organization” is any “registered organization” as defined in the Code with
such additions to such term as may hereafter be made. 
 “Requirement of Law” is as to any Person, the
organizational or governing documents of such Person, and any law (statutory or common), treaty, rule or regulation or determination of an arbitrator or a court or other Governmental Authority, in each case applicable to or binding upon such Person
or any of its property or to which such Person or any of its property is subject. 
 “Responsible Officer” is
any of the Chief Executive Officer, President, Chief Financial Officer and Controller of Borrower. 
 “Restricted
License” is any material license or other agreement with respect to which Borrower is the licensee that prohibits or otherwise restricts Borrower from granting a security interest in Borrower’s interest in such license or agreement or
any other property. 
 “Revolving Line” is an aggregate principal amount not to exceed Fifteen Million Dollars
($15,000,000) outstanding at any time. 
 “Revolving Line Maturity Date” is the date two (2) years from
the Effective Date. 
 “SEC” shall mean the Securities and Exchange Commission, any successor thereto, and any
analogous Governmental Authority. 
 “Second Tranche” is defined in Section 2.1.4(a)(ii). 

“Securities Account” is any “securities account” as defined in the Code with such additions to such term as
may hereafter be made. 
 “Senior Bank Facilities” means the Revolving Line and the Growth Capital Advances.

 “Stock Pledge Agreements” are (a) that certain Stock Pledge Agreement dated as of October 29, 2010
between RingCentral and Bank, (b) that certain Stock Pledge Agreement dated as of November 17, 2011 between RingCentral and Bank, (c) that certain Stock Pledge Agreement dated as of June 28, 2012 between RingCentral and Bank,
(d) that certain Stock Pledge Agreement dated as of March 12, 2013 between RingCentral and Bank and (e) that certain Deed of establishment of a first ranking right of pledge of all shares in the capital of RingCentral B.V. dated as of
July 12, 2013 between RingCentral and Bank. 
 “Subordinated Debt” is indebtedness incurred by Borrower
subordinated to all of Borrower’s now or hereafter indebtedness to Bank (pursuant to a subordination, intercreditor, or other similar agreement in form and substance satisfactory to Bank entered into between Bank and the other creditor), on
terms acceptable to Bank. 

  
 -28-

 “Subsidiary” is, as to any Person, a corporation, partnership, limited
liability company or other entity of which shares of stock or other ownership interests having ordinary voting power (other than stock or such other ownership interests having such power only by reason of the happening of a contingency) to elect a
majority of the board of directors or other managers of such corporation, partnership or other entity are at the time owned, or the management of which is otherwise controlled, directly or indirectly through one or more intermediaries, or both, by
such Person. Unless the context otherwise requires, each reference to a Subsidiary herein shall be a reference to a Subsidiary of Borrower or Guarantor. 
 “Supplemental Final Payment” is a payment (in addition to and not a substitution for the payments of accrued interest and principal) due in accordance with Section 2.1.4 above, equal
to the original principal amount of the applicable Supplemental Growth Capital Advance multiplied by the Supplemental Final Payment Percentage. 
 “Supplemental Final Payment Percentage” is two and three-quarters percent (2.75%). 
 “Supplemental Growth Capital Advance” is defined in Section 2.1.4(a). 
 “Supplemental Growth Capital Commitment Termination Date” is June 30, 2014. 
 “Supplemental Growth Capital Loan” means all Supplemental Growth Capital Advances made under Section 2.1.4 hereof. 

“Supplemental Growth Capital Loan Commitment” is Five Million Dollars ($5,000,000). 

“Supplemental Growth Capital Maturity Date” is the first (1st) day of the month which is thirty-six (36) months from the
Effective Date. 
 “Trademarks” means any trademark and servicemark rights, whether registered or not,
applications to register and registrations of the same and like protections, and the entire goodwill of the business of Borrower connected with and symbolized by such trademarks. 

“Transfer” is defined in Section 7.1. 
 “TriplePoint Loan Agreements” means that certain (i) Plain English Growth Capital Loan and Security Agreement by and between RingCentral and TriplePoint Capital LLC, dated as of
June 22, 2012, as amended and supplemented from time to time, or restated, refinanced or replaced and (ii) Equipment Loan Agreement. 
 “Unused Revolving Line Facility Fee” is defined in Section 2.4(d). 
 “Warrant” is, collectively, that certain Warrant to Purchase Stock dated as of October 29, 2010 executed by Borrower in favor of Bank, and that certain Warrant to Purchase Stock
dated as of the Effective Date executed by Borrower in favor of Bank. 
 [Signature page follows.] 

  
 -29-

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

			
	BORROWER:
	
	RINGCENTRAL, INC.
		
	By	 	 /s/ Robert Lawson

	Name:	 	 Robert Lawson

	Title:	 	 CFO

	
	RCLEC, INC.
		
	By	 	 /s/ John Marlow

	Name:	 	 John Marlow

	Title:	 	 President

	
	BANK:
	
	SILICON VALLEY BANK
		
	By	 	 /s/ Jack Garza

	Name:	 	 Jack Garza

	Title:	 	 Vice President

 [Signature page to Second Amended and Restated Loan and Security Agreement] 

 EXHIBIT A – COLLATERAL DESCRIPTION 

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

All goods, Accounts (including health-care receivables), Equipment, Inventory, contract rights or rights to payment of money, leases,
license agreements, franchise agreements, General Intangibles (except as provided below), commercial tort claims, documents, instruments (including any promissory notes), chattel paper (whether tangible or electronic), cash, deposit accounts,
fixtures, letters of credit rights (whether or not the letter of credit is evidenced by a writing), securities, and all other investment property, supporting obligations, and financial assets, whether now owned or hereafter acquired, wherever
located; and 
 all Borrower’s Books relating to the foregoing, and any and all claims, rights and interests in any of the
above and all substitutions for, additions, attachments, accessories, accessions and improvements to and replacements, products, proceeds and insurance proceeds of any or all of the foregoing. 

Notwithstanding the foregoing, the Collateral does not include (i) 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, or (ii) any Intellectual Property; provided, however, the Collateral
shall include all Accounts and all proceeds of Intellectual Property. If a judicial authority (including a U.S. Bankruptcy Court) would hold that a security interest in the underlying Intellectual Property is necessary to have a security interest in
such Accounts and such property that are proceeds of Intellectual Property, then the Collateral shall automatically, and effective as of the Effective Date, include the Intellectual Property to the extent necessary to permit perfection of
Bank’s security interest in such Accounts and such other property of Borrower that are proceeds of the Intellectual Property. 
 Pursuant to the terms of a certain negative pledge arrangement with Bank, Borrower has agreed not to encumber any of its Intellectual Property without Bank’s prior written consent. 

 

 EXHIBIT B 

COMPLIANCE CERTIFICATE 
  

					
	TO:	 	SILICON VALLEY BANK	 	Date:                     
	FROM:	 	RINGCENTRAL, INC. and RCLEC, INC.	 	

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

					
			
	 Reporting Covenant
	 	 Required
	 	 Complies

	 Monthly financial statements with Compliance Certificate
	 	Monthly within 30 days (quarterly within 45 days after IPO)	 	Yes    No
	Annual financial statement (CPA Audited)	 	FYE within 180 days (prior to IPO)	 	Yes    No
	Annual financial statement (Company-prepared)	 	FYE within 120 days (after IPO)	 	Yes    No
	10-Q, 10-K and 8-K	 	Within 5 days after filing with SEC	 	Yes    No
	Borrowing Base Certificate	 	Monthly within 30 days	 	Yes    No
	Annual Board Approved Financial Projections	 	FYE within 30 days (prior to IPO)	 	Yes    No

  

											
	 Financial Covenant
	  	Required	 	Actual	 	  	Complies	 
	 Maintain:
	  		 				  			
	 Minimum Liquidity*
	  		 				  			
	 Greater of:
	  	$5,000,000	 				  			
	 OR
	  	$            

(2 quarters of
 Cash
Burn)
	 	$	            	  	  	 	Yes    No	  

  

	*	Only required after Borrower becomes subject to the reporting requirements under the Exchange Act. 

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

 
  

 
  

 
  

													
		 	RingCentral, Inc., on behalf of itself and all Borrowers	 		 	BANK USE ONLY
							
		 		 		 		 		 	Received by:	 	  

		 	By:	 	  
	 		 		 		 	AUTHORIZED SIGNER
							
		 	Name:	 	  
	 		 		 	Date:	 	  

		 	Title:	 	  
	 		 		 		 	
		 		 		 		 		 	Verified:	 	  

		 		 		 		 		 		 	AUTHORIZED SIGNER
							
		 		 		 		 		 	Date:	 	  

						
		 		 		 		 		 	Compliance Status:         Yes     No

 Schedule 1 to Compliance Certificate 

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

 

	I.	Liquidity (Section 6.8(a)) (Only required after IPO) 

 Required:             Greater of:         (a) $5,000,000 or(b)
$         (2 quarters Cash Burn (see below)) 
 Actual: 

 

							
	 A.
	  	Aggregate value of the unrestricted cash and Cash Equivalents of Borrower maintained with Bank	  	$	        	  
			
	 B.
	  	Availability Amount	  	$	        	  
			
	 C.
	  	Liquidity (the sum of lines A and B)	  	$	        	  
		
	 Is line C equal to or greater than the applicable amount set forth above?
	  			

											
						
		  		  	              No, not in compliance
	  		  	             Yes, in compliance	  	

  

	II.	Cash Burn (This is not a financial covenant but is used to determine the Liquidity requirement.) 

 

							
	 A.
	  	EBITDA loss of Borrower for the most recently ended quarter, determined in accordance with GAAP	  	$	        	  
			
	 B.
	  	Aggregate value of stock based compensation for the most recently ended quarter	  	$	        	  
			
	 C.
	  	Aggregate value of other non-cash expenses for the most recently ended quarter	  	$	        	  
			
	 D.
	  	Change in Deferred Revenue for the most recently ended quarter	  	$	        	  
			
	 E.
	  	Aggregate value of unfunded capital expenditures of Borrower for the most recently ended quarter	  	$	        	  
			
	 F.
	  	Cash Burn (line A plus line B plus line C plus line D minus line E)	  	$	        	  
			
	 G.
	  	Two quarters Cash Burn (lesser of line F multiplied by 2 or Zero Dollars ($0))	  	$	        	  

 Actual:            (-1) multiplied by
$         (Line G) = $         

 EXHIBIT C 

BORROWING RESOLUTIONS 
 [see attached] 

 EXHIBIT D – LOAN PAYMENT/ADVANCE REQUEST FORM 

DEADLINE FOR SAME DAY PROCESSING IS
NOON PACIFIC TIME 
  

					
	 Fax To: (415) 615-0076
	  	 	Date:                     	  

  

							
	LOAN PAYMENT:	 		  		 	
	
	RINGCENTRAL, INC. and RCLEC, INC.
				
	From Account #	 	
                    
                                         
       
	  	To Account #	 	
                    
                                         
       

		 	 (Deposit Account #)
	  		 	 (Loan Account #)

				
	Principal $	 	
                    
                                         
       
	  	and/or Interest $	 	
                    
                                         
       

				
	Authorized Signature:	 	
                    
                             
	  	Phone Number:	 	
                    
                             

	Print Name/Title:	 	  
	  		 	

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

 

							
	From Account #	  	
                 
	  	To Account #	 	  

		  	  (Loan Account #)	  		 	 (Deposit Account #)

 Amount of Advance $         

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

 

							
	Authorized Signature:                         
                  	 		  	Phone Number:                          
                                       	  	
	Print Name/Title:                          
                          	 		  		  	

 OUTGOING WIRE REQUEST: 

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

							
	Beneficiary Name:
                                         
                          	 		  	Amount of Wire: $                        
                                        
	  	
	Beneficiary Bank:
                                         
                            	 		  	Account Number:                          
                                        
	  	
	City and State:                         
                                         
          	 		  		  	

  

							
	
Beneficiary Bank Transit (ABA) #:               
                                 
	 		  	Beneficiary Bank Code (Swift, Sort, Chip, etc.):                
   	 	
		 		  	 (For International Wire Only)
	 	
				
	
Intermediary Bank:                    
                                         
                 
	 		  	Transit (ABA) #:                         
                                         
           	 	
	
For Further Credit to:                  
                                         
                                         
                                         
                                         
                                  

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

					
	Authorized Signature:
                                         
                                	 		  	2nd Signature (if required):                           
    
	Print Name/Title:                          
                	 		  	
	Telephone #:                           
                                         
                       	 		  	

 EXHIBIT E 

BORROWING BASE CERTIFICATE 
 [see attached]EX-10.16

 Exhibit 10.16 

 
 

 
 PLAIN ENGLISH GROWTH CAPITAL
LOAN AND SECURITY AGREEMENT 
 This is a PLAIN ENGLISH GROWTH CAPITAL LOAN
AND SECURITY AGREEMENT dated as of June 22, 2012 by and between RINGCENTRAL, INC., as borrower, and TRIPLEPOINT CAPITAL LLC, a Delaware limited liability company, as lender. 
 The words “We”, “Us”, and “Our” refer to TRIPLEPOINT CAPITAL LLC. The words “You” and “Your” refer to RINGCENTRAL, INC., not to any individual. The words
“the Parties” refers to both TRIPLEPOINT CAPITAL LLC and RINGCENTRAL, INC. This Plain English Growth Capital Loan and Security Agreement may be referred to as the “Agreement”. 

The Parties agree to the following mutual agreements and conditions listed below: 

 

							
	GROWTH CAPITAL LOAN FACILITY INFORMATION
		
	 Facility Number
	 	 Commitment Amount

	 Part 1: 0745-GC-01

 
 Part 2: 0745-GC-02
	 	 Part 1: $6,000,000

 
 Part 2: $4,000,000, Upon Request and Additional Approval
or upon completion of the Part 2 Milestone as defined below and execution of a warrant agreement in substantially the form as the Part 1 Warrant Agreement.

				
	 Minimum Advance

Amount
	 	 Availability Period
	 	 Loan Term
	 	 Interest Rate

	None	 	 Part 1: 6/22/12 – 6/21/13

 
 Part 2: Upon availability through 6/21/13
	 	 Part 1 & 2:
  

Option A: 36 Months
 (Months 1-3 Interest Only);
  
 Option B: 12 Months*
  
 *Subject to adjustment as set forth in Section 9.
	 	 Part 1& 2:
  

Option A: Prime Rate plus 5.75% during the interest only period, adjusted to Prime Rate plus 5.25% for the remaining
term.
  
 Option B: Prime Rate plus
5.25%
  
 (Prime Rate as published in the Wall
Street Journal the day before any Advance is funded however, in no event shall the Prime Rate be less than 3.25%)
  

Upon each Advance, the interest rate shall be fixed, as set forth in this Loan Agreement.

				
	 Security Interest
	 	 End Of Term Payment
	 	 Facility Fee
	 	 Right to Invest

	First priority security interest in all Collateral subject to Permitted Liens; with a negative pledge in Intellectual Property.	 	 Part 1 & 2:
 Option A: 4% of each Advance.
  
 Option B: 0.75% of each Advance.
	 	 Part 1: $90,000 due upon the Closing Date.

 
 Part 2: $60,000 due upon the availability of Part
2.
	 	You grant Us the right to invest up to $500,000 in Your next round of private equity financing per Section 19.

					
	 OUR CONTACT INFORMATION

 

	 Name
	  	 Address For Notices
	  	 Contact Person

	 TriplePoint Capital LLC
	  	 2755 Sand Hill Rd., Ste. 150

Menlo Park, CA 94025

Tel: (650) 854-2090

Fax: (650) 854-1850
	  	Sajal Srivastava, COO
 Tel: (650)
233-2102
 Fax: (650) 854-1850
 email: legal@triplepointcapital.com

	
	 YOUR CONTACT INFORMATION

 

	 Customer Name
	  	 Address For Notices
	  	 Contact Person

	 RingCentral, Inc.
	  	 1400 Fashion Island Boulevard, Suite 700

San Mateo, CA 94404

 
 With a copy to
General Counsel
	  	Robert Lawson, CFO
 Tel:
650-376-0007
 Fax: 650-376-0007
 email: bob.lawson@ringcentral.com

 Capitalized terms defined in the table on Page 1 or 2 of this Agreement shall have the meanings given to those terms in
such table, and other capitalized terms not otherwise defined in the body of this Agreement are defined in Section 21. Any accounting term not specifically defined herein shall be construed in accordance with GAAP, and all calculations shall be
made in accordance with GAAP. The term “financial statements” shall include the accompanying notes and schedules. 
  

	1.	WHAT THE PARTIES AGREE TO FINANCE 

Provided that the conditions in Sections 4 and 5 and elsewhere in this Agreement are met, We will lend to You the Parts of Commitment Amount as reflected
on Page 1 of this Agreement and You agree to use such proceeds to finance any of Your general corporate needs. We will lend to You advances (each an “Advance”) in minimum amounts as set forth on Page 1 of this Agreement up to a
maximum of the Commitment Amount as provided on Page 1. Our obligation to fund Advances under each Part of the Commitment Amount under this Agreement will end on the last day of the Availability Period noted on Page 1 for such Part. 

 

	2.	YOU WILL ENTER INTO MULTIPLE PROMISSORY NOTES 

 The Plain English Promissory Note in the form of Exhibit A (collectively, the “Promissory Note”) is the document the Parties will enter into each time an Advance is to be funded.
The Promissory Note will contain the specific financial terms of the Advance (e.g. amount funded, interest rate, maturity date, advance date, payment due dates etc.) and all of the terms and conditions of this Agreement are incorporated in
and made a part of each Promissory Note. There may be multiple Promissory Notes associated with this Agreement. 
  

	3.	YOUR LOAN FACILITY COMMITMENT AMOUNT MAY BE DIVIDED INTO PARTS 

 The Commitment Amount and/or its corresponding parts (if any) will be noted on Page 1 of this Agreement (“Parts”). For purposes of this Agreement, references to the Commitment Amount
shall mean the Part or Parts which are available and in effect. Certain terms or conditions associated with the availability of such Part are listed on Page 1 of this Agreement. As to any Part that is available “Upon Request and Additional
Approval”, You are required to make a request to utilize that additional Part in writing to Us (the “Commitment Increase Request Notice”), prior to Your submission of a corresponding Advance Request. After Our receipt of
the Commitment Increase Request Notice, We will review the information available to Us and conduct any legal and business due diligence deemed necessary by Us in connection with Our attempt to obtain Our requisite credit approvals. Our agreement to
consider providing the additional Part is not, and is not to be construed as, a commitment, offer, or agreement to provide such additional Part. 
  

	 	•	 	 Part 2 Milestone: Notwithstanding anything in this Agreement, upon written notice from You of, and a copy of, the filing or confidential
submission to the Securities and Exchange Commission of an S-1 registration statement contemplating an initial public offering (“IPO”) of Your common 

  

					
	RingCentral_GrowthCapitalLoan	 		  	2

	 	 
stock from which You reasonably expect to obtain net offering proceeds, after deduction of all fees, commissions and other costs and expenses in connection therewith, of not less than
$50,000,000, Part 2 of the Commitment Amount shall be made available to you. 

  

	4.	HOW WILL YOU REQUEST ADVANCES 

 In
addition to the requirements of Section 5 set forth below, You agree to follow the procedures listed below to have Us extend an Advance to You: 
  

	 	•	 	 You will submit to Us (by facsimile, mail or electronic mail) a completed Advance Request in the form attached as Exhibit B signed by Your Chief
Executive Officer, President or Chief Financial Officer. 

  

	 	•	 	 Such Advance Request must be submitted and received by Us no later than 5:00 p.m. PT five (5) Business Days prior to the last day of the
applicable Availability Period. Any Advance Request submitted after 5:00 p.m. PT shall be considered received the following Business Day. 

  

	 	•	 	 Each Advance Request will state a requested funding date that is at least five (5) Business Days after the date such Advance Request is
submitted to Us. 

 After We check and approve the information You provide in the Advance Request, We will prepare and provide
to You a Promissory Note and an amortization schedule for Your signature. Upon receipt of the Promissory Note signed by Your authorized officer and confirmation by Us that all conditions have been met, We will then advance the requested funds to
You. 
 All the terms, conditions, and covenants of this Agreement shall apply to all Advances whether or not each Advance is evidenced by a
Promissory Note. You agree that We may rely on, and shall be fully protected in relying upon, any notice or Advance Request given by any person We reasonably believe to be Your authorized representative without the necessity of Our conducting an
independent investigation, including Your contact person listed on Page 1. 
  

	5.	CONDITIONS FOR US TO MAKE LOANS TO YOU 

Our obligation to fund any Advance that You request under this Agreement is subject to satisfaction of each of the conditions set forth in Sections 4 and
18 and each of the following conditions: 
  

	 	•	 	 The representations and warranties in this Agreement and in the Warrant Agreement shall be true, complete and correct in all material respects on and
as of the date(s) We fund each Advance with the same effect as though they were made on and as of such date, except to the extent such representations and warranties expressly relate to an earlier date, in which case they shall remain true, complete
and correct in all material respects as of such date; provided, however, that such materiality qualifiers shall not be applicable to any representations and warranties that already are qualified or modified by materiality in the text
thereof. Each Advance Request will constitute Your representation and warranty on the relevant Advance date as to the matters provided in Sections 11 and 12 and as to the matters set forth in the Advance Request. 

 

	 	•	 	 You shall be in compliance with all the terms and provisions set forth in this Agreement, each Promissory Note and each other Loan Document, and at the
time of and immediately after such Advance: (a) no Default or Event of Default shall have occurred and be continuing, and (b) no fact or conditions shall exist that would (or would with the passage of time, the giving of notice, or both)
constitute a Default or an Event of Default under this Agreement or any other Loan Document. 

  

	 	•	 	 You shall provide Us with all appropriate assignments, notices and control agreements that are necessary or desirable to perfect or maintain Our first
priority Lien in all of the Collateral, subject to Permitted Liens, provided that no control agreements shall be required for Accounts maintained outside the United States. 

 

	 	•	 	 You shall have paid to Us the Facility Fee relating to such Advance. 

 

	 	•	 	 No event or circumstance shall exist or have occurred that has had or could reasonably be expected to have a Material Adverse Effect.

  

	 	•	 	 You shall have delivered to Us the Warrant Agreement. 

 

	 	•	 	 You shall submit to Us any other documents and other information that We may request. 

  

					
	RingCentral_GrowthCapitalLoan	 		  	3

	6.	YOU MAY PREPAY YOUR PROMISSORY NOTES 

You may at any time prepay any Promissory Note in full (but not in part), without premium or penalty, by paying: (a) the remaining outstanding
principal amount and all accrued interest calculated as if the date of such prepayment occurred on the next scheduled monthly payment date per the respective Promissory Note; (b) the End of Term Payment, if any, (c) all other Secured
Obligations, if any, that shall have become due and payable, including interest at the Default Rate with respect to any past due amounts as of the date of prepayment, and (d) and an additional prepayment premium as follows: 

 

	 	•	 	 If prepaid 1-12 months following the date in which such Promissory Note was given: 2% of the outstanding balance owing under such Promissory Note; and

  

	 	•	 	 If prepaid after12 months, no additional prepayment premium shall be due. 

 

	7.	THE MAXIMUM RATE OF INTEREST; DEFAULT RATE 

 Maximum Rate of Interest. It is not Our intent to receive interest at a rate greater than the maximum rate permissible by law, which We shall call the “maximum rate”. If a court
determines You have actually paid Us interest based on a rate that exceeds the maximum rate, then We shall apply the excess as follows: first, to the payment of the outstanding principal amount of the Secured Obligations; second, after
all principal is repaid, to the payment of Our accrued interest and any other principal, interest, fees, costs or other amounts owed by You to Us in respect of the Secured Obligations; and third, after all amounts owed by You to Us are
repaid, the excess (if any) shall be refunded to You. 
 Default Interest. In the event that You do not pay any interest when due,
delinquent interest shall be added to principal and shall bear interest on interest, compounded at the rate set forth in Page 1. Upon and during an Event of Default, all principal, interest or other amounts owed by You to Us shall bear
interest at a rate per annum equal to the rate set forth in Page 1 plus five percent (5%) per annum (the “Default Rate”). 
  

	8.	YOU GRANT US A SECURITY INTEREST 

 In
order to secure the Secured Obligations, You grant to Us a first priority (subject to Permitted Liens), continuing security interest in and Lien upon all of Your right, title and interest in each of the following whether now owned or hereinafter
acquired and wherever located: 
  

	 	•	 	 All Receivables; 

  

	 	•	 	 All Equipment; 

  

	 	•	 	 All Fixtures; 

  

	 	•	 	 All General Intangibles; 

  

	 	•	 	 All Intellectual Property; 

  

	 	•	 	 All Inventory; 

  

	 	•	 	 All Investment Property; 

  

	 	•	 	 All Deposit Accounts; 

  

	 	•	 	 All Cash; 

  

	 	•	 	 All commercial tort claims, if any, as listed on the Certificate of Perfection; 

 

	 	•	 	 All Goods and personal property, whether tangible or intangible and whether now or hereinafter owned or existing, leased, consigned by or to or
acquired and wherever located; and 

  

	 	•	 	 To the extent not otherwise included, all Proceeds of each of the foregoing and all accessions to, substitutions and replacements for, rents, profits,
and products of each of the foregoing. 

 All the above listed items will be collectively called the “Collateral”.

 Notwithstanding the foregoing, Our Lien on the Collateral shall be subordinated to the Senior Loan Facility as set forth in the Intercreditor
Agreement. 
 Notwithstanding the above, (a) Collateral does not include more than 65% of the present 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 and (b) Collateral excludes Intellectual Property

  

					
	RingCentral_GrowthCapitalLoan	 		  	4

 
currently held or hereafter obtained, but includes Proceeds of Intellectual Property (including but not limited to all Receivables, rights to payment and General Intangibles arising from the
sale, licensing or disposition of all or any part of, or rights in, the foregoing); provided, however, other than non-exclusive licenses or non-perpetual exclusive licenses with respect to geographic area, fields of use and customized
products for specific customers that would not result in a transfer of title of the licensed property under applicable law, all given in the ordinary course of Your business, in the event You transfer, sell, assign, grant a security interest in,
hypothecate, permit or suffer to exist any Lien, or otherwise transfer any interest in or encumber any portion of the Intellectual Property, either voluntarily or involuntarily, without Our prior written consent, Our security interest shall include
(and shall be deemed to have a Lien in such assets included from the Closing Date) all Intellectual Property. 
  

	9.	HOW AND WHAT WILL YOU PAY US 

Payments. The first payment date for each Advance will be the first day of the month following the month in which the Advance was funded, unless
that Advance is funded on the first business day of that month, in which case the first payment date shall be the Advance Date. 
  

	 	•	 	 Each Option A Promissory Note shall be due in thirty-six (36) monthly installments consisting of three (3) months of interest only followed
by thirty-three (33) equal monthly installments of principal and interest, payable on the first day of each month through the last payment date (unless that date falls on a weekend or national holiday in which event such payment shall be due on
the previous business day). 

  

	 	•	 	 Each Option B Promissory Note shall be due in twelve (12) monthly installments consisting of eleven (11) months of interest only followed by
one (1) installment of principal and interest, payable on the first day of each month through the last payment date (unless in the case of any installment that date falls on a weekend or national holiday in which event such payment shall be due
on the previous Business Day). 

 Interest. The principal balance of each Promissory Note shall accrue interest at the
percentage per year as indicated on Page 1 of this Agreement, and shall be computed daily on the basis of a year consisting of 360 days for the actual number of days occurring in the period for which such interest is payable, and interest shall
accrue in advance from the Advance Date. 
 Interim Payment. In the event an Advance is made on any day other than the first business day
of the month, You shall make payment to Us on the Advance Date in an amount equal to the per diem interest for the time from the Advance Date through and including the last day of the month in which the Advance is funded. 

Any amounts that You repay on the Advances may not be re-borrowed. 
 Option B Conversion. As to any Advance made by Us under the Option B terms, You may make a written request to Us no earlier than 60 days and no later than 30 days prior to the maturity date of such
Option B Advance (each, a “Conversion Request Notice”) to (a) extend the maturity date an additional 12 months (“Maturity Date Extension”) or (b) convert such Advance to a term loan amortized over a 24
month period with a 2% increase in each of the Interest Rate and End of Term Payment for such Advance ( a “Term Loan Conversion”). After Our receipt of the Conversion Request Notice, We will review the information available to Us
and conduct any legal and business due diligence deemed necessary by Us in connection with Our attempt to obtain Our requisite credit approvals, and, if such Maturity Date Extension or Term Loan Conversion is approved, then it would only become
effective if the following conditions are satisfied: 
  

	(a)	no Default or Event of Default has occurred and is continuing; 

 (b) an amendment to this Agreement and/ the respective Promissory Note has been entered into by You and Us that sets forth the terms and provisions (including the interest rate and other pricing) for such
Maturity Date Extension or Term Loan Conversion; and 
 (c) receipt of a conversion fee in the amount of one percent (1%) of the
outstanding principal amount of the applicable Advance that is converted (each, a “Conversion Fee”). 
 Our agreement to
consider any Maturity Date Extension or Term Loan Conversion is not and is not to be construed as, a commitment, offer or agreement to provide such Maturity Date Extension or Term Loan Conversion. 

  

					
	RingCentral_GrowthCapitalLoan	 		  	5

 Miscellaneous. Payments are due electronically by automatic debit through Automated Clearing House
(ACH) payment on or before the first day of each month. You agree to fill out and execute the electronic funds transfer/automatic debit Authorization form that We provide. If We do not receive any payments from You within two (2) business days
after they are due, You will pay a late charge on the overdue amount. The late charge will be equal to five percent (5%) of the amount due for each month not paid when due and until such time as payment is received. All payments shall be free
and clear of any taxes, withholdings, duties, impositions or other charges, to the end that We will receive the entire amount of any Secured Obligations payable under this Agreement, regardless of the source of payment. Any interest not paid when
due shall be compounded by becoming a part of the Secured Obligations, and such interest shall then accrue interest at the rate then applicable under this Agreement and the applicable Promissory Note. 

 

	10.	INSURANCE 

 So long as there are any
Secured Obligations outstanding, You shall carry and maintain commercial general liability insurance, against risks customarily insured against in Your line of business. All such insurance shall be in form, with companies, and in amounts reasonably
acceptable to Us. Such risks shall include the risks of bodily injury, including death, property damage, personal injury, advertising injury, and contractual liability. You must maintain a minimum of Two Million Dollars ($2,000,000) of commercial
general liability insurance for each occurrence. So long as there are any Secured Obligations outstanding, You shall also carry and maintain insurance upon the Collateral, insuring against all risks (or equivalent) of physical loss or damage
howsoever caused, in an amount not less than the full replacement cost of the Collateral. You shall also carry and maintain a fidelity insurance policy in an amount not less than Five Hundred Thousand Dollars ($500,000) as a policy limit.

 You shall submit to Us certificates of insurance, which reflect Your compliance with Your insurance obligations in the above paragraph and
the obligations contained in this Section. Your insurance certificate shall state that We are an additional insured for commercial general liability and a loss payee for all risk property damage insurance, and include third party coverage on
fidelity bond. 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. 

The certificates of insurance will state that the Commercial General Liability coverage evidenced is primary and non-contributory to any insurance or Our
self-insurance, and will further provide that a waiver of subrogation as respects the property insurance in favor of Us has been agreed to. All certificates of insurance will provide that a minimum of thirty (30) days advance written notice
will be endeavored to be provided to Us of cancellation. Any failure by Us to scrutinize such insurance certificates for compliance is not a waiver of any of Our rights, all of which are reserved. 

So long as (x) no Event of Default has occurred and is continuing, (y) the casualty giving rise to such insurance proceeds could not be
reasonably expected to have a Material Adverse Effect and (z) the insurance proceeds do not exceed $1,000,000 in the aggregate for all losses under all casualty policies in any twelve-month period, then the insurance proceeds payable with
respect to Your insurance policies shall be payable to You to repair or replace any property subject to the applicable claim, or used to purchase other property useful in Your business, provided such replaced or repaired property (i) shall be
of equal or like value as the replaced or repaired Collateral and (ii) shall be deemed Collateral in which We have been granted a first priority Lien (subject to Permitted Liens) to the extent that any such destroyed, damaged or replaced
property was Collateral. If an Event of Default has occurred and is continuing, then, at Our option (subject to the terms of the Intercreditor Agreement), proceeds payable under any policy may be applied by Us to the outstanding Secured Obligations.

  

	11.	REPRESENTATIONS AND WARRANTIES FROM YOU 

You represent and warrant that: 
  

	 	•	 	 Collateral Title. You own all right, title and interest in and to the Collateral, free of all Liens whatsoever, except for Permitted Liens.

  

	 	•	 	 Granting of Lien. You have the full power and authority to, and do grant and convey to Us, a Lien on the Collateral as security for the Secured
Obligations, free of all Liens other than Permitted Liens and shall execute 

  

					
	RingCentral_GrowthCapitalLoan	 		  	6

	 	 
such notices, assignments, and control agreements, in connection herewith as We may reasonably request to perfect and obtain the priority of Our Lien on the Collateral, provided that no control
agreements shall be required for Accounts maintained outside of the United States. Except for Permitted Liens, the Collateral is not subject to any Liens. 

 

	 	•	 	 Due Organization. You are a corporation duly organized, legally existing and in good standing under the laws of the state of your incorporation
and are duly qualified as a foreign corporation in all jurisdictions in which the nature of Your business or location of Your properties require such qualifications and where the failure to be qualified could reasonably be expected to result in an
event which, individually or together with any other event, would have a Material Adverse Effect. 

  

	 	•	 	 Authorization, Validity and Enforceability. Your execution, delivery and performance of the Promissory Notes, this Agreement, all financing
statements, all other Loan Documents, and all Excluded Agreements, (i) have been duly authorized by all necessary corporate action, and (ii) will not result in the creation or imposition of any Lien upon the Collateral, other than the
Liens created by this Agreement and the other related Loan Documents. The person or people executing this Agreement and other Loan Documents are duly authorized to do so, and the Loan Documents and each term and provision thereof are Your legal,
valid and binding obligations, enforceable in accordance with their respective terms, subject to applicable bankruptcy, insolvency, reorganization or other similar laws generally affecting the enforcement of the rights of creditors and equitable
principles (regardless of whether enforcement is sought in equity or at law). 

  

	 	•	 	 Litigation. Except as disclosed in the Disclosure Letter, there are no actions, suits or proceedings at law or in equity or by or before any
governmental authority now pending or, to Your knowledge, threatened in writing against or affecting You or any of Your business, property or rights (i) which involve any Loan Document or Excluded Agreement or (ii) that could reasonably be
expected to, individually or in the aggregate result in an event which individually or together with any other event, would have a Material Adverse Effect. 

 

	 	•	 	 Compliance with Applicable Laws. You are 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 could reasonably be expected to result in a Material Adverse Effect. 

 

	 	•	 	 Conflict. Neither this Agreement nor any other Loan Document (a) violates any provisions of Your articles or certificate of incorporation,
bylaws or any law, regulation, order, injunction, judgment, decree or writ to which You are subject or (b) conflicts with or results in the breach or termination of, constitutes a default under or accelerates or permits the acceleration of any
performance required by, any material lease, agreement or other contract to which You are a party or by which You or any of Your property is bound. 

  

	 	•	 	 Further Consent. The execution, delivery and performance of this Agreement and the other Loan Documents do not require the consent or approval
of any other Person, including any regulatory authority, or governmental body of the United States or any State or any political subdivision of the United States or any state. 

 

	 	•	 	 Material Adverse Effect. As of the date hereof, since December 31, 2011, no event that has had or could reasonably be expected to have a
Material Adverse Effect has occurred or is continuing. 

  

	 	•	 	 Other Defaults. You are not in default in any manner under any provision of any indenture or other agreement or instrument evidencing material
Indebtedness to which You are a party or by which You or any of Your properties or assets are or may be bound, in each case where such default could result in an event which, individually or together with any other event, could reasonably be
expected to have a Material Adverse Effect. 

  

	 	•	 	 Information Correct. No information, report, Advance Request, financial statement, exhibit or schedule furnished by or on behalf of You to Us in
connection with the negotiation of any Loan Document 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, in the light of circumstances under which
they were, are or will be made, not misleading (it being recognized by You that projections and estimates as to future events are not to be viewed as facts and that the actual results during the period or periods covered by any such projections and
estimates may differ materially from projected or estimated results). 

  

	 	•	 	 Filing of Taxes. You have filed all required federal, state and local tax returns (or filed appropriate extensions for the filing of such
returns), except to the extent such failure to file could not reasonably be expected to cause a material adverse effect on Your business and has not resulted in the creation of a Lien having priority over Our Lien other than Permitted Liens. Subject
to Section 12, Paragraph “Taxes”, You have fully paid or You 

  

					
	RingCentral_GrowthCapitalLoan	 		  	7

	 	 
have reserved for and are contesting in good faith all taxes or installments (including any interest or penalties), except to the extent such failure to do so could not reasonably be expected to
cause a material adverse effect on Your business and has not resulted in the creation of a Lien having priority over Our Lien other than Permitted Liens. You have fully paid or reserved for and are contesting in good faith all material tax
assessments that You have received for the 3 years preceding the Closing Date. 

  

	 	•	 	 ERISA Compliance. You have met the minimum funding requirements of ERISA with respect to any employee benefit plans subject to ERISA. No event
has occurred resulting from Your failure to comply with ERISA that is reasonably likely to result in Your incurring any liability that could reasonably be expected to have a Material Adverse Effect. 

 

	 	•	 	 Hazardous Waste. None of Your properties or assets has ever been used by You or, to Your knowledge, by previous owners or operators, in the
disposal of, or to produce, store, handle, treat, release, or transport, any hazardous waste or hazardous substance other than in accordance with applicable law; to Your knowledge, none of Your properties or assets has ever been designated or
identified in any manner pursuant to any environmental protection statute as a hazardous waste or hazardous substance disposal site, or a candidate for closure pursuant to any environmental protection statute; no Lien arising under any environmental
protection statute has attached to any revenues or to any real or personal property owned by You; and You have not received a summons, citation, notice, or directive from the Environmental Protection Agency or any other federal, state or other
governmental agency concerning any action or omission by You resulting in the releasing, or otherwise disposing of hazardous waste or hazardous substances into the environment. You have at all times operated Your business in compliance in all
material respects with all applicable provisions of federal, state and local statutes and ordinances dealing with the control, shipment, storage or disposal of hazardous materials or substances. 

 

	 	•	 	 Operation of Business. You own, possess, have access to, or can become licensed on reasonable terms under all patents, patent applications,
trademarks, trade names, inventions, franchises, licenses, permits, computer software and copyrights necessary for the operation of Your business as now conducted, with no known infringement of, or conflict with, the rights of others. You have taken
reasonable measures to avoid liability from infringement by third parties using Your facilities, in particular that You have complied with the requirements of the Digital Millennium Copyright Act for notice and takedown. You have at all times
operated Your business in compliance in all material respects with all applicable provisions of the Federal Fair Labor Standards Act, as amended. 

  

	 	•	 	 Your Information. As of the date hereof, Your present name, former names (if any) used in the past 5 years, locations, and other information are
correctly and completely stated on the Certificate of Perfection. 

  

	 	•	 	 Intellectual Property. As of the date hereof, the information stated on the Certificate of Perfection is a true, correct and complete list of
each of Your Patents, Trademarks, Copyrights and Licenses, together with application or registration numbers, as applicable. 

  

	 	•	 	 Accounts. As of the date hereof, the information stated on the Certificate of Perfection is a true, correct and complete list of (a) all
banks and other financial institutions at which You maintain Deposit Accounts and (b) institutions at which You maintain accounts holding Investment Property owned by You, 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. None of the account debtors or other Persons obligated on any of the Collateral
is a governmental authority covered by the Federal Assignment of Claims Act or like federal, state or local statute, rule, or law in respect of such Collateral. 

 

	12.	YOUR COVENANTS TO US 

 So long as the
Secured Obligations (other than inchoate indemnity obligations) have not been fully and indefeasibly paid in cash in full or We have any obligation to make Advances, You covenant to the following: 

 

	 	•	 	 Legal Existence and Qualification. You will maintain Your, and each of Your Subsidiaries’, legal existence and good standing in Your and
their respective jurisdictions of formation or organization, except as otherwise permitted under Section 12 Paragraph “Mergers or Acquisitions” and maintain qualifications to do business in all jurisdictions in which the nature of
Your business or location of Your properties require such qualifications and where the failure to be qualified could reasonably be expected to result in an event which, individually or together with any other event, would have a Material Adverse
Effect. 

  

					
	RingCentral_GrowthCapitalLoan	 		  	8

	 	•	 	 Compliance with Laws. You will, and will cause each of Your Subsidiaries to, comply with all laws (including, without limitation, environmental
laws) rules, regulations applicable to, and all orders and directives of any governmental or regulatory authority having jurisdiction over, You, Your Subsidiaries or Your business, and with all material agreements to which You or any of Your
Subsidiaries are a party, except where the failure to so comply could not reasonably be expected to have a Material Adverse Effect. Neither You nor any of Your Subsidiaries shall become an “investment company” or controlled by an
“investment company,” within the meaning of the Investment Company Act of 1940, or become principally engaged in, or undertake as one of Your important activities, the business of extending credit for the purpose of purchasing or carrying
margin stock, or use the proceeds of any loan for such purpose. You and Your Subsidiaries shall not fail to meet the minimum funding requirements of ERISA, permit a reportable event or prohibited transaction, as defined in ERISA, to occur, or fail
to comply with the Federal Fair Labor Standards Act. 

  

	 	•	 	 Management Rights. You will permit any of Our authorized representatives and Our attorneys and accountants on reasonable notice to inspect,
examine and make copies and abstracts of Your books of account and records at reasonable times and during normal business hours. In addition, We and Our agents, attorneys and accountants will have the right to meet with Your management and officers
to discuss such books of account and records. In addition, We will be entitled at reasonable times and intervals to consult with and advise Your management and officers concerning significant business issues. Such consultations shall not
unreasonably interfere with Your business operations. The Parties intend that the rights granted here 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 with respect to any business issues will not be deemed to give Us, nor be deemed an exercise by Us or control over Your management or policies. 

 

	 	•	 	 Additional Documents and Assurances. You will from time to time execute, deliver and file, alone or with Us, any security agreements, or other
documents to perfect or give first priority to Our Lien on the Collateral. You will from time to time obtain any instruments or documents as We may request, and take all further action that may be reasonably necessary or desirable, or that We may
reasonably request, to carry out the provisions and purposes of this Agreement or any other Loan Document or to confirm, perfect, preserve and protect the Liens granted to Us. In addition, You authorize Us to file at any time financing statements,
continuation statements, and amendments thereto that (i) either specifically describe the Collateral or describe the Collateral as all of Your assets or words of similar effect, regardless of whether any particular asset comprised in the
Collateral falls within the scope of Article 9 of the UCC of such jurisdiction, and (ii) contain any other information required by the UCC for the sufficiency of filing office acceptance of any financing statement, continuation statement, or
amendment, including whether You are an organization, the type of organization and any organizational identification number issued to You, if applicable. You hereby appoint Us as Your lawful attorney-in-fact to sign Your name on any documents
necessary to perfect or continue the perfection of any Lien regardless of whether an Event of Default has occurred until all Secured Obligations (other than inchoate indemnity obligations) have been satisfied in full and We are under no further
obligation to make Advances. Our foregoing appointment as Your attorney in fact, and all of Our rights and powers, coupled with an interest, are irrevocable until all Secured Obligations (other than inchoate indemnity obligations) have been fully
repaid and performed and Our obligation to provide Advances terminates. Notwithstanding anything in this paragraph, Your obligations pursuant to Us pursuant to this paragraph shall be subject to the terms of the Intercreditor Agreement.

  

	 	•	 	 Protection of Our Lien. You will take or cause to be taken all actions necessary to protect and defend Your title to the Collateral and Our Lien
on the Collateral. You shall at all times keep the Collateral, and the assets and properties of each of Your Subsidiaries, free and clear from any legal process or Liens whatsoever (except for Permitted Liens) and shall give Us immediate written
notice of any legal process affecting the Collateral or the assets and properties of Your Subsidiaries, or any Liens on the Collateral or the assets and properties of Your Subsidiaries. 

 

	 	•	 	 Maintenance of Properties. You will maintain and protect Your properties, assets and facilities (and those of Your Subsidiaries), including Your
equipment and fixtures, in good working order, repair and condition (taking into consideration ordinary wear and tear) and from time to time make or cause to be made all necessary and proper repairs, renewals and replacements and shall completely
manage and care for Your property in accordance with prudent industry practices. 

  

					
	RingCentral_GrowthCapitalLoan	 		  	9

	 	•	 	 Financial Statements. You will provide monthly and yearly financial statements in accordance with Section 18 of this Agreement, and such
financial statements will include reports of any material contingencies (including commencement of any material litigation by or against You) or any other occurrence that could reasonably be expected to have a Material Adverse Effect.

  

	 	•	 	 Audits and Inspections. Upon Our request but not more than twice a year unless an Event of Default exists, You will, during normal business
hours, on ten (10) business days’ notice, make the Inventory, Equipment, other Collateral, and books and records concerning the Collateral (including software used in Your business) available to Us for inspection at the place where it is
located and shall make Your log and maintenance records pertaining to the Inventory and Equipment available to Us for inspection. You will take all action necessary to correctly and completely maintain such books, records, logs, and maintenance
records. 

  

	 	•	 	 Taxes. You will pay when due all taxes fees or other charges of any nature whatsoever (together with any related interest or penalties) imposed
or assessed against You, Us or the Collateral in connection withYour ownership, possession, use, operation or disposition thereof or upon Your rents, receipts or earnings arising therefrom (excluding taxes imposed on Us based on Our net income or
franchise taxes), except to the extent such taxes, fees or charges could not reasonably be expected to cause a material adverse effect on Your business and has not resulted in the creation of a Lien having priority over Our Lien other than Permitted
Liens. You shall file on or before the due date all federal, state and local tax returns including personal property tax returns in respect to the Collateral, except to the extent such failure to file could not reasonably be expected to cause a
material adverse effect on Your business and has not resulted in the creation of a Lien having priority over Our Lien other than Permitted Liens. Notwithstanding the foregoing, You may contest, in good faith and by appropriate proceedings, taxes,
fees and other charges for which You maintain adequate reserves in accordance with GAAP. 

  

	 	•	 	 Intellectual Property. You will: (a) protect, defend and maintain the validity and enforceability of Your Intellectual Property;
(b) promptly advise Us in writing of material infringements of Your Intellectual Property; (c) not allow any Intellectual Property material to Your business to be abandoned, forfeited or dedicated to the public without Our written consent;
and (d) give Us written notice of any applications or registrations of Your Intellectual Property, including the date of such filings and the applicable application or registration numbers within thirty (30) days after the end of each
calendar year (and such written notice shall be deemed to update the Certificate of Perfection). 

  

	 	•	 	 Subsidiaries. If at any time, You or Your Subsidiary create or acquire any Subsidiary, You and such Subsidiary will promptly notify Us of the
creation or acquisition of such new Subsidiary. In the event such Subsidiary is a Domestic Subsidiary, You will, and will cause your Subsidiary to, take all such action as We may reasonably require to cause such Subsidiary to guaranty the Secured
Obligations and grant a continuing pledge and security interest in and to the assets of such Subsidiary, and You shall grant and pledge to Us a first priority, perfected security interest in the stock, units or other evidence of ownership of such
Subsidiary. 

  

	 	•	 	 Dispositions, Liens and Encumbrances. You will not, and You will not permit any of Your Subsidiaries to, transfer, sell, assign, grant a
security interest in, hypothecate, permit or suffer to exist any Lien, or otherwise transfer any interest in or encumber any portion of Your properties or assets (or those of any Subsidiary), including the Intellectual Property, either voluntarily
or involuntarily, without Our prior written consent, other than: (a) Permitted Liens, (b) sales of Inventory in the ordinary course of business, (c) non-exclusive licenses of Intellectual Property in the ordinary course of business or
non-perpetual exclusive licenses with respect to geographic area, fields of use and customized products for specific customers that would not result in a transfer of title of the licensed property under applicable law, (d) sales of worn-out or
obsolete Equipment not financed by Us provided (i) that the fair market value of such Equipment does not exceed $1,000,000 in any fiscal year and (ii) no Event of Default has occurred and is continuing, (e) [reserved] and
(f) other transactions otherwise permitted by this Section 12, and (g) other transfers or dispositions of property in an aggregate amount not to exceed $250,000 in any fiscal year so long as no Event of Default has occurred and is
continuing. In addition, You will not, and You will not permit any of Your Subsidiaries to, enter into any agreement with any Person (other than Us) that restricts Your ability, or the ability of any of Your Subsidiaries, to transfer, sell, assign,
grant a security interest in, hypothecate, permit or suffer to exist any Lien, or otherwise transfer any interest in or encumber any portion of Your properties or assets or those of any of Your Subsidiaries, including Your Intellectual Property,
except for (i) restrictions with respect to specific property subject to a Permitted Lien, (ii) customary non-assignment provisions in contracts, (iii) customary contractual restrictions provided that they do not restrict or prohibit
Us from being granted a security interest in the Collateral and (iv) restrictions under the Senior Loan Facility. Without limiting the generality of the foregoing, unless otherwise permitted in this Agreement, You will not sell, transfer,
encumber or otherwise dispose of any ownership interest that You may have in any subsidiary. 

  

					
	RingCentral_GrowthCapitalLoan	 		  	10

	 	•	 	 Mergers or Acquisitions. You will not, and You will not permit any of Your Subsidiaries to, liquidate, dissolve or consummate any Merger Event,
or acquire all or substantially all of the capital stock or property of another Person, except that (i) any of Your Subsidiaries may merge with You or any other of Your Subsidiaries, (ii) any of Your Subsidiaries may liquidate or dissolve
provided that any material assets of such Subsidiaries are transferred to You or another of Your Subsidiaries so long as such Subsidiary is a Guarantor, (iii) You may enter into and consummate any transaction to reincorporate into the State of
Delaware, (iv) You or any of your Subsidiaries may consummate any Permitted Acquisition. Notwithstanding anything in this Agreement, after the consummation of Your IPO, You or any of your Subsidiaries may acquire all or substantially all of the
capital stock or property of another Person (whether by merger, consolidation, asset sale, stock purchase or any other similar transaction or series of transactions). 

 

	 	•	 	 Compromise of Accounts. Without Our prior written consent, You will not (a) grant any material extension of the time for payment of any of
the Receivables, or General Intangibles, except extensions that are consistent with industry practice (b) to any material extent, compromise, compound or settle the same for less than the full amount, except for extensions, compromises or
settlements that are consistent with industry practice (c) release, wholly or partly, any Person liable for the payment of Receivables, except for releases that are consistent with industry practice, or (d) allow any credit or discount
whatsoever other than trade discounts granted to You in the ordinary course of Your business and credit or discounts that are consistent with industry practice. 

 

	 	•	 	 Other Indebtedness. You will not, and You will not permit any of Your Subsidiaries to, incur any Indebtedness without the prior written consent
of Us other than Indebtedness evidenced by this Agreement and the Permitted Indebtedness. 

  

	 	•	 	 Investments. You will not, and You will not permit any of Your Subsidiaries to, directly or indirectly make any Investment other than Permitted
Investments. 

  

	 	•	 	 Dividends and Distributions. You will not, without Our prior written consent, declare or pay any cash dividend or make a distribution on, or
repurchase or redeem, any class of stock, other than (i) pursuant to employee repurchase plans upon an employee’s death or termination of employment (including any consultants or directors of the company), (ii) conversion of any of
Your convertible securities into other securities pursuant to the terms of such convertible securities or otherwise in exchange thereof and the purchase of fractional shares in connection therewith, and (iii) dividends solely in Your capital
stock. 

  

	 	•	 	 Collateral Locations; Name Changes. You will not relocate, or permit any Domestic Subsidiary to relocate, Your (or such Domestic
Subsidiary’s) chief executive office or principal place of business or, except with respect to any co-location facility, any item of Your or Your Domestic Subsidiary’s Collateral (excluding any inventory manufactured at locations outside
of the continental United States (“Off-shore Inventory”)), in each case with a book value in excess of $100,000 to any location that is not disclosed in the Certificate of Perfection, unless: (i) You have given Us no less than
twenty (20) days prior written notice,; and (ii) such relocation shall be within the continental United States, and (iii) such relocation does not adversely affect the perfection or priority of Our security interest in any of the
Collateral. In addition, except with respect to (x) any Off-shore Inventory or (y) any location in which Collateral has book value of $100,000 or less (or in the case of Inventory a book value of $400,000 or less), You will use reasonable
commercial efforts (it being understood the reasonably commercial efforts qualifier shall not apply to co-location facilities) to obtain and maintain such acknowledgments, consents, waivers and agreements from: (i) the owner, Lien holder,
mortgagee and landlord with respect to any real property on which Collateral is located and (ii) from any Person in possession of Collateral, as We may require, all in form and substance reasonably satisfactory to Us. Without limiting the
foregoing, where the Collateral is covered by a negotiable Document (such as a warehouse receipt), You shall deliver to Us possession of such Document. You will not change Your name without providing Us at least 30 days’ advance written notice.
Any notices given under this paragraph shall be deemed to amend the Certificate of Perfection (and You shall provide an updated, executed Certificate of Perfection regarding same upon completion of Your quarterly Certificate of Compliance).

  

	 	•	 	 Line of Business. You will not engage in, or permit any of Your Subsidiaries to engage in, any business other than the businesses currently
engaged in by You and Your Subsidiaries or reasonably related thereto. 

  

					
	RingCentral_GrowthCapitalLoan	 		  	11

	 	•	 	 Change of Jurisdiction. You will not change Your state of organization outside the United States of America. If you change your state of
organization within the United States of America, You must give Us no less than thirty (30) days prior written notice (or in the case of any reincorporation into the State of Delaware, five (5) days prior written notice) and such notice
shall be deemed to amend the Certificate of Perfection (and You shall provide an updated, executed Certificate of Perfection regarding same upon completion of Your quarterly Certificate of Compliance). 

 

	 	•	 	 Deposit and Investment Accounts. You will not maintain, or permit any of Your Subsidiaries to maintain, any Deposit Accounts or accounts holding
Investment Property owned by You (or such Subsidiaries) except (i) accounts identified in the Certificate of Perfection and (ii) other accounts of You, Domestic Subsidiaries or Guarantors with respect to which We have a perfected security
interest which accounts will be deemed to be added to the Certificate of Perfection (and You shall provide an updated, executed Certificate of Perfection regarding same upon completion of Your quarterly Certificate of Compliance).

  

	 	•	 	 Transactions with Affiliates. You will not directly or indirectly enter into or permit to exist any material transaction with any of Your
Affiliates except for (i) transactions that are in the ordinary course of Your business, upon fair and reasonable terms that are no less favorable to You than would be obtained in an arm’s length transaction with a non-affiliated Person,
(ii) transactions that are otherwise Permitted Investments and (iii) “transfer pricing”, “cost sharing” and “cost plus” arrangements in the ordinary course of business. 

 

	 	•	 	 Subordinated Indebtedness. You will not prepay, redeem or otherwise satisfy in any manner prior to the scheduled repayment thereof any
Subordinated Indebtedness (other than the Advances and except for conversion of any Subordinated Indebtedness into equity securities and the payment of cash in lieu of the issuance for fractional shares upon any such conversion), and You shall not
make or permit any payment on any Subordinated Indebtedness, except under the terms of the subordination, intercreditor, or other similar agreement to which such Subordinated Indebtedness is subject, or amend any provision in any document relating
to the Subordinated Indebtedness which would increase the amount thereof or adversely affect the subordination thereof to Secured Obligations owed to Us. 

 

	13.	YOU AGREE TO INDEMNIFY AND PROTECT US 

You agree to indemnify and hold Us, Our officers, directors, employees, agents, attorneys, representatives and shareholders 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), that may be instituted or asserted against or incurred by Us or any such 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 or any actions or failures to act in connection with, or arising out of the disposition or utilization
of the Collateral, excluding in all cases, claims, costs, expenses, damages and liabilities resulting solely from Our gross negligence or willful misconduct. 
  

	14.	WHAT IS AN EVENT OF DEFAULT 

 The
occurrence of any one or more of the following events shall constitute an “Event of Default” under this Agreement: 
  

	 	•	 	 Payment. You do not pay any principal, interest, fees, costs or other Secured Obligations under this Agreement, the Promissory Notes or any of
the other related Loan Documents on the due date; or 

  

	 	•	 	 Covenant. You fail to perform any covenant or Secured Obligations under this Agreement, the Promissory Notes or any of the other related Loan
Documents, and You fail to cure such breach (to the extent that such breach is capable of being cured) within twenty (20) days after the earlier of (i) We give You written notice or (ii) Your actual knowledge of such default; or

  

	 	•	 	 Misrepresentations. You or any Person acting for You makes any representation, warranty, or other statement now or later in this Agreement, any
other Loan Document, or any Excluded Agreement or in any writing delivered to Us or to induce Us to enter this Agreement, any other Loan Document, or any Excluded Agreement, and such representation, warranty, or other statement is incorrect in any
material respect when made, provided, however, that such materiality qualifier shall not be applicable to any representation, warranty or statement that already is qualified or modified by materiality in the text thereof; or

  

					
	RingCentral_GrowthCapitalLoan	 		  	12

	 	•	 	 Bankruptcy; Attachment; Other. 

  

	 	•	 	 You (i) assign Your assets for the benefit of Your creditors, (ii) become unable to pay Your debts generally as they become due, or You
become unable to pay or perform Your obligations under the Loan Documents or Excluded Agreements as they become due, (iii) file a voluntary petition in bankruptcy, (iv) file any petition, answer, or document seeking for Yourself any
reorganization, arrangement, composition, readjustment, liquidation, dissolution or similar relief under any present or future statute, law or regulation pertinent to such circumstances, (v) seek or consent to or acquiesce in the appointment of
any trustee, receiver, or liquidator of Yours or of all or any substantial part of Your assets or property, (vi) cease operation of Your business as Your business has normally been conducted, or terminate substantially all of Your employees, or
(vii) You or Your directors or majority shareholders shall take any action initiating any of the foregoing actions described in this paragraph; or 

 

	 	•	 	 Either (i) forty-five (45) days shall have expired after the commencement of an involuntary action against You 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 Your operations or the
business being stayed; or (ii) a stay of any such order or proceeding shall thereafter be set aside and the action setting it aside shall not be timely appealed; or (iii) You shall file any answer admitting or not contesting the material
allegations of a petition filed against You 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 

 

	 	•	 	 Forty-five (45) days shall have expired after the appointment, without Your consent or acquiescence, of any trustee, receiver or liquidator of
Yours or of all or any substantial part of Your properties without such appointment being vacated; or 

  

	 	•	 	 Agreements with Us. The occurrence of any default under any other Loan Document, any Excluded Agreement, or any other agreement between You
and/or any of Your Subsidiaries and Us (other than any default embodied in or covered by any clause of this Section 14) and such default continues for more than twenty (20) days after the earlier of (i) We have given notice of such
default to You, or (ii) You have actual knowledge of such default; or 

  

	 	•	 	 Other Agreements. The occurrence of any default (other than any default embodied in or covered by any other clause of this Section 14)
under any lease, loan, or other agreement or obligation of Yours involving any Indebtedness which aggregates more than $1,000,000, and which gives the holder of such Indebtedness the right to accelerate such Indebtedness; or

  

	 	•	 	 Judgments. The entry of (a) any judgment or arbitration award against You involving an award in excess of $2,000,000 that is not covered by
insurance by a solvent insurance carrier that has confirmed coverage in writing, has not been, discharged, bonded or stayed on appeal within ten (10) days (or, in the event that the terms of such judgments or arbitration award, provide for
payment of such obligations over a period of time, then You shall be permitted to satisfy such obligations (“Judgment Amount”) pursuant to such terms if You have sufficient funds to satisfy all outstanding Secured Obligations plus
sufficient funds to operate Your business in the ordinary course for a two month period and an Event of Default pursuant to this provision shall not occur unless You fail to make any payment of the Judgment Amount within ten (10) days of when
such payment is due pursuant to such terms); or (b) any judgment or arbitration award against You in which You are enjoined, restrained or in any way prevented from conducting all or any material part of Your business or affairs.

  

	 	•	 	 Change of Control. Except as otherwise permitted hereunder, the occurrence of any event or transaction, including the sale or exchange of
outstanding shares of Your capital stock or the capital stock of any of Your Subsidiaries, or series of related events or transactions, resulting in (a) the holders of such outstanding capital stock immediately before consummation of such event
or transaction, or series of related events or transactions, do not, immediately after consummation of such event or transaction or series of related events or transactions, retain, directly or indirectly, capital stock representing at least 50% of
the voting power of the surviving Person of such event or transaction or series of related events or transactions, in each case without regard to whether You or any of Your Subsidiaries are the surviving Person, (b) any Person or
“group” (other than a Person that is a stockholder on the Closing Date) shall obtain “beneficial ownership” (as such terms are defined under Section 13d-3 of and Regulation 13D under the Securities Exchange Act of 1934),
either directly or indirectly, of more than 35% of 

  

					
	RingCentral_GrowthCapitalLoan	 		  	13

	 	 
Your outstanding capital stock having the right to vote for the election of directors under ordinary circumstances, or (c) You cease to own and control all of the economic and voting rights
associated with all of the outstanding capital stock of Your Subsidiaries (other than director’s qualifying shares or other similar shares held by individuals that are mandated by the law of the jurisdiction of formation of such Subsidiaries).

  

	 	•	 	 Officers. The individuals holding the offices of Your Chief Executive Officer as of the Closing Date shall for any reason cease to hold such
offices or be actively engaged in Your day-to-day management, unless a successor appointed by Your board of directors is appointed within ninety (90) days of such cessation. 

 

	 	•	 	 Guaranty Documents. (a) Any guaranty of any Secured Obligations terminates or ceases for any reason to be in full force and effect;
(b) any event or circumstance described in paragraphs 3 through 8 of this Section 14 occurs with respect to any Guarantor, or (c) the death, liquidation, administration, winding up, or termination of existence of any Guarantor (as
applicable). 

  

	15.	WHAT HAPPENS UPON AN EVENT OF DEFAULT 

If an Event of Default has occurred and is continuing, We can at Our option, and without notice to You: 

 

	 	•	 	 Terminate our commitment to make any future Advances under this Agreement; 

 

	 	•	 	 Terminate Our obligation to permit the principal, interest, fees, costs or other amounts owed by You to Us to remain outstanding;

  

	 	•	 	 Recover all sums due and accelerate and demand payment of all or any part of the principal, interest, fees, costs or other amounts owed by You to Us
and declare them to be immediately due and payable (provided, that upon the occurrence of a default of the type described in the fourth paragraph of Section 14 (i.e. “Bankruptcy; Attachment; Other”), the Promissory Notes
and all of the principal, interest, fees, costs or other amounts owed by You to Us shall automatically be accelerated and made immediately due and payable, in each case without any further notice or act). Upon and after an Event of Default, the
unpaid principal and accrued interest on the Promissory Notes and advances and all outstanding principal, interest, fees, costs or other amounts owed by You to Us, including all professional fees and expenses, shall thereafter bear interest at the
Default Rate (as defined in Section 7); 

  

	 	•	 	 Settle or adjust disputes and claims directly with Your account debtors for amounts, upon terms and in whatever order that We reasonably consider to be
advisable; 

  

	 	•	 	 Enter Your premises, without notice and process of law and in compliance with Your security requirements, to remove and repossess the Collateral
without being liable to You for damages due to the repossession, except those resulting from Our or Our assignees’ negligence and charge You for the cost of repossession, storing and shipping the Collateral. With respect to any of premises that
You own, You hereby grant to Us a license to enter into possession of such premises and to occupy the same, without charge, in order to exercise any of Our rights or remedies provided herein, at law, in equity, or otherwise; and

  

	 	•	 	 Pursue any other remedy permitted by law, equity or otherwise. 

 We may exercise all rights and remedies with respect to the Collateral under this Agreement or the other Loan Documents or otherwise available to Us 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. You hereby grant to Us a license and right, to
use, without charge, Your 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, as it pertains to the Collateral, in completing
production of, advertising for sale, and selling any Collateral. In connection with Our exercise of its rights under this Agreement and the other Loan Documents, each of Your rights under all licenses and all franchise agreements shall inure to Our
benefit. All Our rights and remedies shall be cumulative and not exclusive. 
 In addition to the power of attorney granted in Section 12,
effective only upon the occurrence and during the continuance of an Event of Default, You hereby irrevocably appoint Us (and any of Our designated officers, agents, attorneys or employees) as Your true and lawful attorney to: (a) send requests
for verification of Receivables or notify account debtors of Our security interest in the Receivables; (b) endorse Your name on any checks or other forms of payment or security that may come into Our possession; (c) sign Your name on any
invoice or bill of lading relating to any Receivable, drafts against account debtors, schedules and assignments of Receivables, verifications of Receivables, 

  

					
	RingCentral_GrowthCapitalLoan	 		  	14

 
and notices to account debtors; (d) dispose of any Collateral; (e) make, settle, and adjust all claims under and decisions with respect to Your policies of insurance; (f) settle
and adjust disputes and claims respecting the Accounts directly with account debtors, for amounts and upon terms which We determine to be reasonable. Our appointment as Your attorney in fact, and each and every one of Our rights and powers, being
coupled with an interest, is irrevocable until all of the Secured Obligations (other than inchoate indemnity obligations) have been fully repaid and performed and Our obligation to provide Advances hereunder is terminated. 

 

	16.	WHAT HAPPENS IF YOU ARE IN DEFAULT AND WE EXERCISE OUR REMEDIES 

 If an Event of Default has occurred and is continuing, We 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 We may elect. Any such sale may be made either at public or private sale at Your place of business or elsewhere. You agree that
any such public or private sale may occur upon Our ten (10) calendar days’ prior written notice to You. We may require You to assemble the Collateral and make it available to Us at a place We designate that is reasonably convenient to Us.
The proceeds of any sale, disposition or other realization upon all or any part of the Collateral shall be applied in the following order of priorities: 
 First, to Us in an amount sufficient to pay in full Our costs and professionals’ and advisors’ fees and expenses; 
 Second, to Us in an amount equal to the then unpaid amount of all the principal, interest, fees, costs or other amounts owed by You to Us, in such order and priority as We may choose in Our sole
discretion; and 
 Finally, after the full, final, and indefeasible payment in Cash of all of the principal, interest,
fees, costs or other amounts owed by You to Us, to any creditor holding a junior Lien on the Collateral, or to You or Your representatives or as a court of competent jurisdiction may direct. 

 

	17.	RESERVED. 

 [This Section Reserved.]

  

	18.	DOCUMENTS YOU WILL PROVIDE US 

Upon signing this Agreement You will provide Us with: 

 

	 	•	 	 Executed originals of this Agreement, and all other documents and instruments that We may reasonably require; 

 

	 	•	 	 Secretary’s certificate of incumbency and authority; 

 

	 	•	 	 Certified copy of resolutions of Your board of directors approving this Agreement and the associated Warrant Agreement; 

 

	 	•	 	 Certified copy of Articles of Incorporation and By-Laws as amended through the Closing Date; 

 

	 	•	 	 A certificate of good standing from Your state of incorporation and similar certificates from all other jurisdictions where You or any of Your
Subsidiaries do business and where the failure to be qualified could reasonably be expected to have a Material Adverse Effect; 

  

	 	•	 	 Payment of the Facility Fee for the Commitment Amount as denoted on Page 1 of this document; 

 

	 	•	 	 Your budget and business plan of the current fiscal year; 

 

	 	•	 	 Executed Certificate of Perfections by You or any Guarantor, in the form as attached as Exhibit C or in the form as required pursuant to any
guaranty that a Guarantor is required to enter into in connection with this Agreement, as may be updated, amended or supplemented from time to time (as applicable, each a “Certificate of Perfection”); and

  

	 	•	 	 Any such other documents as We may reasonably request. 

 So long as there are any unpaid principal, interest, fees, costs or other amounts owed by You to Us, or We have any obligation to make any additional Advances, You shall provide Us with:

  

					
	RingCentral_GrowthCapitalLoan	 		  	15

 Financial Statements. Within thirty (30) days after the end of each month or after You have
consummated Your IPO within forty-five (45) days after the end of each quarter You will provide Us with an unaudited income statement, statement of cash flows (provided that, in the forth fiscal quarter of each fiscal year after You have
consummated Your IPO, such statement of cash flow will be filed with the annual audited financial statements), and an unaudited balance sheet prepared in accordance with GAAP (except for the absence of footnotes and subject to year end adjustments)
accompanied by a report detailing any material contingencies (in addition post-IPO, no more than twice in any calendar year, You agree to provide monthly financial statements for the previous month within 30 days of Our request) Until such time as
You have consummated Your IPO, , You will provide Us with copies of all board packages delivered to Your board of directors in connection with board meetings or otherwise (redacted to protect attorney client privilege and trade secrets, as necessary
and/or any materials pertaining to Your financing arrangements with Us (other than any board approvals relating to such financing arrangements)). Within one hundred eighty (180) days of the end of each fiscal year end (except for the fiscal
year ending December 31, 2011 which shall be provided upon completion), You will provide Us with audited financial statements accompanied by an audit report and an unqualified opinion of the independent certified public accountants (other than
any qualifications with respect to “going-concern” typical for venture-backed companies similar to You). Prior to Your IPO, within 90 days after the end of each fiscal year, You will provide Us a budget and business plan for the next
fiscal year. You will provide Us any additional information (including, but not limited to, tax returns, income statements, balance sheets and names of principal creditors) as We reasonably believe are necessary to evaluate Your continuing ability
to meet financial obligations. These statements should be emailed to Us at financials@triplepointcapital.com, or upon Our prior approval, facsimiled or mailed to Us at the address listed on Page 1 of this Agreement. After an initial public offering,
in addition to the above, You shall provide all copies of 10-Qs and 10-Ks, provided that such 10-Qs and 10-Ks may be delivered electronically and if so delivered, shall be deemed to have been delivered on the date on which You post such 10-Qs and
10-Ks, or provide a link thereto, on Your website on the Internet at Your website address. 
 Certificate of Compliance. Within thirty
(30) days after the end of each calendar quarter, You will provide Us with a Certificate of Compliance in the form attached as Exhibit D. 
  

	19.	RIGHT TO INVEST 

 You grant Us (or at Our
election, an Affiliate of Us) the right to invest up to Five Hundred Thousand and No/100 Dollars ($500,000), in Your Next Round, at Our sole discretion on the same terms and conditions as other investors in Your Next Round (“Right To
Invest”). You agree to provide Us with at least ten (10) days prior written notice of the proposed date of the Next Round, which notice shall include the final terms, conditions and pricing of the Next Round and copies of draft
equity documents no later than two (2) Business Days prior to the closing of the Next Round. The foregoing Right To Invest shall survive any termination or expiration of this Agreement and be in full force and effect until the consummation of
Your Next Round. 
  

	20.	OTHER LEGAL PROVISIONS YOU WILL ABIDE BY 

Continuation of Security Interest. This is a continuing agreement and the grant of the security interest and Lien hereunder shall remain in full
force and effect and all of Our rights, powers and remedies shall continue to exist until all of the principal, interest, fees, costs or other amounts owed by You to Us are fully and finally paid in cash, We have no further obligation to make
Advances and We have executed a written termination statement. We shall file a termination statement and provide proof of filing to You immediately after the full and final payment in cash of all of the principal, interest, owed by You to Us
hereunder, releasing to You, without recourse except for Our acts, the Collateral and all rights conveyed hereby and returning possession of the Collateral to You. Our rights, powers and remedies 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 Our other rights, powers
and remedies. 
 Entire Agreement. This Agreement and associated Promissory Notes supersede all other oral or written agreements or
understandings between the Parties concerning the Collateral. ANY AMENDMENT OF THIS AGREEMENT OR A PROMISSORY NOTE MAY ONLY BE ACCOMPLISHED THROUGH A DOCUMENT WITH SIGNATURES FROM EACH OF THE PARTIES. 

Headings. Headings used in this Agreement are for reference and convenience of the Parties only and shall have no substantive effect in the
interpretation of this Agreement. 

  

					
	RingCentral_GrowthCapitalLoan	 		  	16

 No Waiver. No action taken by Us or You will be deemed to constitute a waiver of compliance with any
representation, warranty or covenant contained in this Agreement or Promissory Note. The waiver by Us of a breach of any provision of this Agreement or a Promissory Note will not operate or be construed as a waiver of any subsequent breach.

 Survival of Obligations. The indemnification, obligations, representations and warranties contained in this Agreement, any Promissory
Note or in any document delivered in connection with those agreements are for the benefit of the Parties and survive the execution, delivery, expiration or termination of this Agreement. 
 Tax Indemnification. Without limiting the generality of Section 13, You agree to pay, and to hold Us 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 Our net income or franchise taxes) that may be payable or determined to be payable with respect to any of the Collateral or in connection with any
of the transactions contemplated by this agreement. 
 Successors and Assigns. The provisions of this Agreement and the other Loan
Documents shall inure to the benefit of and be binding on You and Your permitted assigns (if any). You shall not assign Your obligations under this Agreement, the Promissory Notes or any of the other Loan Documents without Our express prior written
consent, and any such attempted assignment shall be void and of no effect. You acknowledge and understand that We may sell and assign all or part of Our interest hereunder and under the Promissory Note(s) and all other related Loan Documents to any
person or entity to be known as assignee. After such assignment the term “We” “Us” and “Our” as used in the Loan Documents will mean and include such assignee, and such assignee will be vested with all Our rights,
powers and remedies hereunder and shall have Our duties with respect to the interest that You have granted Us; but with respect to any such interest not so transferred, We shall retain all rights, powers and remedies. No such assignment will relieve
You of any of Your obligations. We agree that in the event of any transfer of the Promissory Note(s), We will denote on the Promissory Note a notation as to the portion of the principal and interest of the Promissory Note(s), which shall have been
paid at the time of such transfer and the date of the transfer. 
 Consent To Jurisdiction And Venue. All judicial proceedings arising in
or under or related to this Agreement, the Promissory Notes or any of the other Loan Documents may be brought in any state or federal court of competent jurisdiction located in the State of California. By execution and delivery of this Agreement,
each party hereto generally and unconditionally: (a) consents to personal jurisdiction in San Mateo County, State of California; (b) waives any objection as to jurisdiction or venue in San Mateo 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, the Promissory Notes 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 this Section, and shall be deemed effective and
received as set forth therein. 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. 

Mutual Waiver Of Jury Trial; Judicial Reference. 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 THE PARTIES SPECIFICALLY WAIVES ANY RIGHT THEY 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 YOU AGAINST US OR
OUR ASSIGNEE OR BY US OR OUR ASSIGNEE AGAINST YOU. IN THE EVENT THAT THE FOREGOING JURY TRIAL WAIVER IS NOT ENFORCEABLE, ALL CLAIMS, INCLUDING ANY AND ALL QUESTIONS OF LAW OR FACT RELATING THERETO, SHALL, AT THE WRITTEN REQUEST OF ANY PARTY, BE
DETERMINED BY JUDICIAL REFERENCE PURSUANT TO THE CALIFORNIA CODE OF CIVIL PROCEDURE (“REFERENCE”). THE PARTIES SHALL SELECT A SINGLE NEUTRAL REFEREE, WHO SHALL BE A RETIRED STATE OR FEDERAL JUDGE. IN THE EVENT THAT THE PARTIES CANNOT AGREE
UPON A REFEREE, THE REFEREE SHALL BE APPOINTED BY THE COURT. THE REFEREE SHALL REPORT A STATEMENT OF DECISION TO THE COURT. NOTHING IN THIS SECTION SHALL LIMIT THE RIGHT OF ANY PARTY AT ANY TIME TO EXERCISE LAWFUL SELF-HELP REMEDIES, FORECLOSE
AGAINST COLLATERAL OR OBTAIN PROVISIONAL REMEDIES. THE PARTIES SHALL BEAR THE FEES AND EXPENSES OF THE REFEREE EQUALLY UNLESS THE REFEREE ORDERS OTHERWISE. THE REFEREE SHALL ALSO DETERMINE ALL ISSUES RELATING TO THE APPLICABILITY, INTERPRETATION,
AND ENFORCEABILITY OF THIS SECTION. THE PARTIES 

  

					
	RingCentral_GrowthCapitalLoan	 		  	17

 
ACKNOWLEDGE THAT THE CLAIMS WILL NOT BE ADJUDICATED BY A JURY. THIS WAIVER EXTENDS TO ALL SUCH CLAIMS, INCLUDING CLAIMS THAT INVOLVE PERSONS OTHER THAN YOU AND US; CLAIMS THAT ARISE OUT OF OR ARE
IN ANY WAY CONNECTED TO THE RELATIONSHIP BETWEEN YOU AND US; AND ANY CLAIMS FOR DAMAGES, BREACH OF CONTRACT, SPECIFIC PERFORMANCE, OR ANY EQUITABLE OR LEGAL RELIEF OF ANY KIND, ARISING OUT OF THIS AGREEMENT, ANY OTHER LOAN DOCUMENT OR ANY OF THE
EXCLUDED AGREEMENTS. 
 Professional Fees. You promise to pay or reimburse on demand, any and all reasonable professional fees and
expenses incurred by Us whether before or after the execution of this Agreement in connection with or related to: the Loan Documents, the Excluded Agreements, or the Secured Obligations; the administration, collection, or enforcement of the Secured
Obligations; amendment or modification of the Loan Documents and the Excluded Agreements; any waiver, consent, release, or termination under the Loan Documents or Excluded Agreements; the protection, preservation, sale, lease, liquidation,
inspection, audit or disposition of, or other action related to, the Collateral or the exercise of remedies with respect to the Collateral; or any legal, litigation, administrative, arbitration, or out of court proceeding in connection with or
related to You or the Collateral, and any appeal or review thereof; and any bankruptcy, restructuring, reorganization, assignment for the benefit of creditors, workout, foreclosure, or other action related to You, the Collateral, the Loan Documents,
or the Excluded Agreements, including representing Us in any adversary proceeding or contested matter commenced or continued by or on behalf of Your estate, and any appeal or review thereof. Our professional fees and expenses shall include fees or
expenses for Our attorneys, accountants, auditors, auctioneers, liquidators, appraisers, investment advisors, environmental and management consultants, or experts engaged by Us in connection with the foregoing. Your promise to pay all of Our
reasonable professional fees and expenses is part of the Secured Obligations under this Agreement. Notwithstanding anything in this Agreement, You will not be responsible or obligated to reimburse Us for any legal fees, costs or expenses incurred on
or before the Closing Date and for items set forth in the Schedule of Documents as items to be completed post the Closing Date, all in connection with the negotiation, due diligence and closing of this Agreement. 

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 You for liquidation or reorganization, if You become insolvent or make an assignment for the benefit of creditors, if a receiver or trustee is appointed for all or any significant part of Your assets, or if any
payment or transfer of Collateral is recovered from Us. The Loan Documents, the Secured Obligations and Our Lien on the Collateral 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 Us, or any part thereof is rescinded, avoided or avoidable, reduced in amount, or must otherwise be restored or returned by, or is recovered from, Us 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 Us in cash. 
 Notices. Any notice, request or other communication to either of
the Parties by the other will be given in writing and deemed received upon the earlier of (1) actual receipt or (2) 3 days after mailing if mailed postage prepaid by regular or airmail to Us or You, at the address set out on Page 1 of this
Agreement, (3) 1 day after it is sent by courier or overnight delivery 
 Applicable Law. This Agreement and any Promissory Note
will have been made, executed and delivered in the State of California and will be governed and construed for all purposes 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. 
 Counterparts. This Agreement may be executed in any number of counterparts, each of which will be
deemed an original, but all such counterparts together constitute one and the same instrument. 
 Signatures. This Agreement and any
Promissory Note may be executed and delivered by facsimile or transmitted electronically in either Tagged Image Format Files ("TIFF") or Portable Document Format ("PDF") and, upon such delivery, the facsimile, TIFF or PDF signature, as
applicable, will be deemed to have the same effect as if the original signature had been delivered to the other party. 

Confidentiality. All financial information (other than any such information contained in periodic reports filed by You with the Securities and
Exchange Commission) and other non-public information disclosed by You to Us shall be considered confidential for purposes of this Agreement. In handling any confidential information, We will 

  

					
	RingCentral_GrowthCapitalLoan	 		  	18

 
exercise the same degree of care that We exercise for Our own proprietary information, but disclosure of information may be made (i) to Our subsidiaries or Affiliates in connection with
their business with You, (ii) to prospective transferees or purchasers of any interest in the Loans (provided, however, We shall use best efforts in obtaining such prospective transferee’s agreement of the terms of this provision and any
purchaser shall be agreeing to assume the obligations hereunder and therefore agreeing to abide by the provisions hereof, including, without limitation, the provisions of this Section), (iii) as We deem necessary or appropriate to any bank,
financial institution or other similar entity, provided, however, that such bank, financial institution or other similar entity agrees in writing to maintain the confidentiality of such information, (iv) to S&P, Moody’s, Fitch and/or
other ratings agency, as We deem necessary or appropriate, provided, however, that such financial institution or ratings agency shall be informed of the confidentiality of such, (v) as required by law, regulation, subpoena, or other order,
(vi) as required in connection with Our examination or audit and (vii) as We consider appropriate exercising remedies under this Agreement. Confidential information does not include information that either: (a) is in the public domain
or in Our possession when disclosed to Us, or becomes part of the public domain after disclosure to Us; or (b) is disclosed to Us by a third party, if We do not know that the third party is prohibited from disclosing the information.
Notwithstanding the above, You hereby consent to the use by Us of Your company name and logo for advertising, promotional and marketing purposes only. Such use may reference the type of credit facility but will not indicate the amount of the credit
facility without Your prior written approval. 
  

	21.	DEFINITIONS 

 Capitalized terms used in
this Agreement shall have the following meanings: 
 “Account” means any “account,” as such term is defined in the
UCC, which You now own or acquire in or which You now hold or acquire any interest and in any event, shall include, without limitation, all accounts receivable, book debts and other forms of obligations (other than forms of obligations evidenced by
Chattel Paper, Documents or Instruments) that You now own, receive or acquire by or belonging or owing to You (including, without limitation, under any trade name, style or division thereof) whether arising out of goods sold or services that You
render or from any other transaction, whether or not the same involves the sale of goods or services by You (including, without limitation, any such obligation that may be characterized as an account or contract right under the UCC) and all of Your
rights in, to and under all purchase orders or receipts now owned or acquired by You for goods or services, and all of Your rights to any goods represented by any of the foregoing (including, without limitation, unpaid seller's rights of rescission,
replevin, reclamation and stoppage in transit and rights to returned, reclaimed or repossessed goods), and all monies due or to become due to You under all purchase orders and contracts for the sale of goods or the performance of services or both by
You or in connection with any other transaction (whether or not yet earned by performance on the part of You), now in existence or occurring, including, without limitation, the right to receive the proceeds of said purchase orders and contracts, and
all collateral security and guarantees of any kind given by any person with respect to any of the foregoing. 
 “Advance Date”
means the day on which We make an Advance to You. 
 “Advance Request” means any request for an Advance to be executed and
delivered from time to time by You to Us in the form attached to this Agreement as Exhibit B. 
 “Affiliate” means, with
respect to any Person, any Person that owns or controls directly or indirectly such Person, any Person that controls or is controlled by or is under common control with such Person, and each of such Person’s senior executive officers,
directors, and partners, and members. 
 “Business Day” means any day other than a Saturday, Sunday or other day on which
banking institutions in the State of California are authorized or required by law or other government action to close. 
 “Cash”
means all cash, money, currency, and liquid funds, wherever held, which You own now, hold or acquire any right, title, or interest in. 

“Certificate of Perfection” has the meaning given to it in Section 18. 
 “Chattel Paper” means any "chattel paper," as such term is defined in the UCC, now owned or acquired by You or in which You now hold or acquire any interest. 

“Closing Date” means June 22, 2012. 
 “Collateral” has the meaning given to it in Section 8. 

  

					
	RingCentral_GrowthCapitalLoan	 		  	19

 “Commitment Increase Request Notice” has the meaning given to it in Section 3.

 “Copyright License” means any written agreement granting any right to use any Copyright or Copyright registration now in
which agreement You now hold or hereafter acquire any interest, whether as licensor or licensee. 
 “Copyrights” means all of
the following now owned or acquired by You or in which Your now hold or acquire any interest: (i) all copyrights and copyright rights, whether registered or unregistered, held pursuant to the laws of the United States, any State thereof, or of
any other country, or pursuant to any convention or treaty; (ii) all registrations of, applications for registration. and recordings of any copyright rights in the United States Copyright Office or in any similar office or agency of the United
States, any State thereof or any other country; (iii) all continuations, renewals or extensions of any copyrights and any registrations thereof; and (iv) any copyright registrations to be issued under any pending applications. 

“Default” means any event that, with the passage of time or notice or both would, unless cured or waived, become an Event of Default.

 “Default Rate” has the meaning given to it in Section 7. 
 “Deposit Accounts” means any “deposit accounts,” as such term is defined in the UCC, now owned or acquired by You or in which You now hold or acquire any interest. 

“Disclosure Letter” means the disclosure letter, dated as of the date hereof, as amended or supplemented from time to time. 

“Documents” means any “documents,” as such term is defined in the UCC, now owned or acquired by You or in which You now hold
or acquire any interest. 
 “Domestic Subsidiary” means a Subsidiary organized under the laws of the United States or any state
or territory thereof or the District of Columbia. 
 “Equipment” means any “equipment,” as such term is defined in
the UCC, and any and all additions, upgrades, substitutions and replacements thereto or thereof, together with all attachments, components, parts, accessions and accessories installed thereon or affixed thereto, now owned or hereafter acquired by
You or in which You now hold or acquire any interest. 
 “Equipment Loan Agreement” means that Plain English Equipment Loan and
Security Agreement of even date by and between You and Us, as amended, restated or replaced. 
 “Event of Default” has the
meaning given to it in Section 14. 
 “Excluded Agreements” means (i) the Warrant Agreement; (ii) any stock
purchase agreement, options, or other warrants to acquire, or agreements governing the rights of, any capital stock or other equity security, or any common stock, preferred stock, or equity security issued to or purchased by Us or its nominee or
assignee and (iii) the Equipment Loan Agreement, including any promissory notes issued in connection with such Equipment Loan Agreement. 
 “Foreign Subsidiary” means any Subsidiary which is not a Domestic Subsidiary. 

“Fixtures” means any “fixtures,” as such term is defined in the UCC, together with any of Your right, title and interest in
and to all extensions, improvements, betterments, renewals, substitutes, and replacements thereof, and all additions and appurtenances thereto any, now owned or hereafter acquired by You or in which You now hold or acquire any interest. 

“GAAP” means generally accepted accounting principles, consistently applied, as in effect from time to time. 

“General Intangibles” means any “general intangibles,” as such term is defined in the UCC, and, in any event, includes
proprietary or confidential information (other than Intellectual Property); business records and materials (other than Intellectual Property); customer lists; interests in partnerships, joint ventures, corporations, limited liability companies and
other business associations; permits; claims in or under insurance policies (including unearned premiums and retrospective premium adjustments); and rights to receive tax refunds and other payments and rights of indemnification, now owned or
acquired by You or in which You may now or hereafter have any interest. 
 “Goods” means any “goods,” as such term is
defined in the UCC, now owned or hereafter acquired by You or in which You now hold or acquire any interest. 

  

					
	RingCentral_GrowthCapitalLoan	 		  	20

 “Guarantor” means any Person who from time to time may guaranty or provide collateral or
other credit support for all or any portion of the Secured Obligations. 
 “Indebtedness” means, of any Person, at any date,
without duplication and without regard to whether matured or unmatured, absolute or contingent: (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; (iv) all obligations of such Person as lessee under capital leases; (v) all obligations of such Person to reimburse
or prepay any bank or other Person in respect of amounts paid under a letter of credit, banker's acceptance, or similar instrument, whether drawn or undrawn; (vi) [reserved]; (vii) all obligations of such Person to purchase, redeem,
exchange, convert or otherwise acquire for value any capital stock of such Person or any warrants, rights or options to acquire such capital stock, in each case for cash (excluding any cash paid in lieu of the issuance of fractional shares upon the
exchange or conversion of any convertible securities), now or hereafter outstanding, except to the extent that such obligations remain performable solely at the option of such Person; (viii) all obligations to repurchase accounts or chattel
paper previously sold (including any obligation to repurchase any accounts or chattel paper under any factoring, receivables purchase, or similar arrangement); (ix) obligations of such Person under interest rate swap, cap, collar or similar
hedging arrangements; and (x) all obligations of others of any type described in clause (i) through clause (ix) above guaranteed by such Person. 
 “Instruments” means any “instrument,” as such term is defined in the UCC, now owned or hereafter acquired by You or in which You now hold or acquire any interest. 

“Intellectual Property” means all Copyrights; Trademarks; Patents; Licenses; source codes; trade secrets; inventions (whether or not
patented or patentable); technical information, processes, designs, knowledge and know-how; data bases; models; drawings; websites, domain names, and URL’s, and all applications therefor and reissues, extensions, or renewals thereof; together
with the rights to sue for past, present, or future infringement of Intellectual Property and the goodwill associated with the foregoing. 

“Intercreditor Agreement” means the Intercreditor Agreement of even date entered into by and between Us and Silicon Valley Bank, or any
other Intercreditor Agreement entered into by and between Us and any other lender under any Senior Loan Facility. 

“Inventory” means any “inventory,” as such term is defined in the UCC, now owned or acquired by You or in which You now hold
or acquire any interest, and, in any event, shall include, without limitation, all Goods and personal property that are held by or on Your behalf for sale or lease or are furnished or are to be furnished under a contract of service or that
constitute raw materials, work in process or materials used or consumed or to be used or consumed in Your business, or the processing, packaging, promotion, delivery or shipping of the same, and all finished goods, whether or not the same is in
transit or in Your constructive, actual or exclusive possession or is held by others for Your account, including, without limitation, all property covered by purchase orders and contracts with suppliers and all goods billed and held by suppliers and
all such property that may be in the possession or custody of any carriers, forwarding agents, truckers, warehousemen, vendors, selling agents or other Persons. 
 “Investment” means any beneficial ownership (including stock, partnership or limited liability company interest or other securities) of any Person, or any loan, advance or capital
contribution to any Person. 
 “Investment Property” means any “investment property,” as such term is defined in the
UCC, and includes any certificated security, uncertificated security, money market funds, bonds, mutual funds, and U.S. Treasury bills and notes now owned or hereafter acquired by You or in which You now hold or acquire any interest. 

“Letter of Credit Rights” means any “letter of credit rights,” as such term is defined in the UCC, now owned or acquired by
You or in which You now hold or acquire any interest, including any right to payment under any letter of credit. 
 “License”
means any Copyright License, Patent License, Trademark License or other license of rights or interests now held or acquired by You or in which You now hold or acquire any interest and any renewals or extensions thereof. 

“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, any lease in the nature of a security interest, and the filing of any
financing statement (other than a precautionary financing statement with respect to a lease that is not in the nature of a security interest) under the UCC or comparable law of any jurisdiction. 

  

					
	RingCentral_GrowthCapitalLoan	 		  	21

 “Loan Documents” means this Agreement, the Promissory Notes, all UCC Financing Statements,
and any other documents executed in connection with the Secured Obligations or the transactions contemplated hereby, including those documents described on the Schedule of Documents attached hereto as Schedule 1, as the same may from time to
time be amended, modified, supplemented or restated; provided, that the Loan Documents shall not include any of the Excluded Agreements. 

“Material Adverse Effect” means a material adverse effect on (i) Your business, operations, properties, prospects, assets or
condition (financial or otherwise), (ii) Your ability to perform the Secured Obligations in accordance with the terms of the Loan Documents or Our ability to enforce any of Our rights and remedies with respect to the Secured Obligations in
accordance with the terms of the Loan Documents, or (iii) the Collateral or Our Liens on the Collateral or the priority of such Liens. 

“Merger Event” means (i) any reorganization, consolidation or merger (or similar transaction or series of transactions) by You, or
any of Your subsidiaries, with or into any other Person; (ii) any transaction, including the sale or exchange of outstanding shares of Your capital stock, or the capital stock of any of Your Subsidiaries, in which the holders of such
outstanding capital stock 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 capital stock representing at least
50.0% of the voting power of the surviving corporation of such transaction or series of related transactions (or the parent corporation of such surviving corporation if such surviving corporation is wholly owned by such parent corporation), in each
case without regard to whether You or any of Your subsidiaries are the surviving corporation, or (iii) the sale, license or other disposition of all or substantially all of Your assets, or the assets of any of Your subsidiaries. 

“Next Round” means the first private equity financing, or extension of an existing round of private equity financing, occurring after
the Closing Date, in which You issue preferred stock for aggregate gross cash proceeds of at least Two Million Dollars ($2,000,000) (with aggregate proceeds to include the amounts that the investors in such financing have committed to invest, in
accordance with the terms of the financing documents after the initial closing under such documents and to exclude any amounts receivable upon, or attributable to, conversion or cancellation of indebtedness), whether in a single or multiple closings
and whether in related or unrelated financings. 
 “Part 2 Milestone” has the meaning set forth in Section 3. 

“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 You now hold or acquire any interest, whether as licensor or licensee. 

“Patents” means all of the following now owned or acquired by You or in which You now hold or acquire any interest: (a) all
patents, or rights corresponding thereto, issued or registered in the United States or any other county, (b) all applications for patents, or rights corresponding thereto in, the United States or any other country; (c) all reissues,
reexaminations, continuations, divisions, continuations-in-part, or extensions of the foregoing patents and/or applications; (c) all patents to be issued under any of the foregoing applications; and (d) all foreign counterparts of the
foregoing patents and/or applications. 
 “Permitted Acquisitions” means (a) any acquisition (whether by purchase, merger,
consolidation or otherwise) or series of related acquisitions by You or Your Subsidiaries of all or substantially all of the capital stock or property of another Person in which total cash consideration does not exceed Two Million Dollars
($2,000,000) in any fiscal year and You provide Us with 10 days’ prior written notice of such acquisition, including a reasonably detailed description thereof and on or prior to the date of the proposed acquisition We shall have received copies
of the acquisition agreement and related documents (including financial information and analysis, financial projections, environmental assessments and reports, opinions, certificates and lien searches) and other information reasonably requested by
Us; and (b) any other acquisition (whether by purchase, merger, consolidation or otherwise) permitted pursuant to the terms of the paragraph entitled “Mergers or Acquisitions” in Section 12. 

“Permitted Indebtedness” means (a) Indebtedness of You in favor of Us including any Indebtedness in our favor under the Equipment
Loan Agreement between You and Us; (b) Indebtedness existing at the Closing Date and disclosed on the Disclosure Letter; (c) Indebtedness to trade creditors, including without limitation, for the acquisition of services, supplies or
inventory in the ordinary course of business; (d) Indebtedness under the Senior Loan Facility so long as the aggregate outstanding principal amount thereof does not at any time exceed Twelve Million Dollars ($12,000,000) as reduced by any
payments of principal with respect to any term loan Indebtedness (such reduction shall not apply on any revolver type Indebtedness up to $4,000,0000 of the aggregate $12,000,000 permitted hereunder) ; (e) Subordinated Indebtedness,
(f) Indebtedness incurred as result of endorsing negotiable 

  

					
	RingCentral_GrowthCapitalLoan	 		  	22

 
instruments received in the ordinary course of business; (g) Indebtedness in an aggregate principal amount not to exceed One Million Dollars ($1,000,000) secured by Permitted Liens,
(h) Indebtedness that otherwise constitutes Permitted Investments, (i) Indebtedness consisting of interest rate, currency, or commodity swap agreements, interest rate cap or collar agreements or arrangements entered into in the ordinary
course of business and designated to protect a Person against fluctuations in interest rates, currency exchange rates or commodity prices, (j) other unsecured Indebtedness in an aggregate amount outstanding not to exceed $400,000 at any time,
and (k) extensions, refinancings, modifications, amendments and restatements of any item of Permitted Indebtedness (a) though (g) above, provided that the principal amount thereof is not increased. 

“Permitted Investment” means (a) Investments that are in existence on the Closing Date and are approved in writing by Us;
(b) Investments in domestic certificates of deposit issued by, and other domestic investments with, financial institutions organized under the laws of the United States or a state thereof, having at least One Hundred Million Dollars
($100,000,000) in capital and a rating of at least “investment grade” or “A” by Moody's or any successor rating agency; (c) Investments in marketable obligations of the United States of America and in open market commercial
paper given the highest credit rating by a national credit agency and maturing not more than one year from the creation thereof; (d) so long as no Event of Default has occurred and is continuing, temporary advances to employees to cover
incidental expenses to be incurred in the ordinary course of business, in an aggregate outstanding amount not to exceed $50,000 at any time; (e) 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; (f) Investments permitted by Borrower’s investment policy,
as amended from time to time, provided that such investment policy (and any amendment thereto) have been approved by Us; (g) Investments consisting of deposit accounts and investment accounts; (h) Investments accepted in connection with
transfers or dispositions of property that are otherwise permitted pursuant to Section 12; (i) (x) Investments of Your Subsidiaries in or to other Subsidiaries of Yours or You (y) Investments by You in or to any Guarantor and
(z) Investments by You in Your Subsidiaries not to exceed Fifty Thousand Dollars ($50,000) in the aggregate in any fiscal year except as follows: (A) You may make Investments up to Five Hundred Thousand Dollars ($500,000) per fiscal
quarter into Your Subsidiary formed under the laws of the United Kingdom, (B) You may make Investments up to One Million Dollars ($1,000,000) per quarter into Your Subsidiary formed under the laws of the People’s Republic of China,
(C) You may make Investments up to Five Hundred Thousand Dollars ($500,000) per quarter into Your Subsidiary formed under the laws of Canada, and (D) You and Us shall meet and confer in good faith regarding whether it is commercially
reasonable for Borrower to be permitted to make Investments in excess of Fifty Thousand Dollars ($50,000) in other Subsidiaries in connection with third-party commercial agreements involving such Subsidiary; (j) Investments consisting of
(i) travel advances and employee relocation loans and other employee loans and advances in the ordinary course of business, and (ii) loans to employees, officers or directors relating to the purchase of equity securities of Yours or Your
Subsidiaries pursuant to employee stock purchase plans or agreements approved by Your Board of Directors; (k) Investments consisting of notes receivable of, or prepaid royalties and other credit extensions, to customers and suppliers who are
not Affiliates, in the ordinary course of business; provided that this paragraph (k) shall not apply to Investments of Your in any of Your Subsidiaries; (l) Investments consisting of interest rate, currency, or commodity swap agreements,
interest rate cap or collar agreements or arrangements entered into in the ordinary course of business and designated to protect a Person against fluctuations in interest rates, currency exchange rates, or commodity prices; (m) joint ventures
or strategic alliances in the ordinary course of Your business consisting of the non-exclusive licensing of technology, the development of technology or the providing of technical support, provided that any cash investments by You does not exceed
Two Hundred Fifty Thousand Dollars ($250,000) in the aggregate in any fiscal year; (n) Investment in Subsidiaries necessary to establish co-location facilities or data centers in an amount not to exceed Three Million Dollars ($3,000,000) in the
aggregate in any fiscal year; (o) Permitted Acquisitions shall be permitted in accordance with the terms of this Agreement including the formation of any Subsidiary in connection with such Permitted Acquisitions and the initial capitalization
of such Subsidiary whether by capital contribution or intercompany loans as required by law or pursuant to the applicable acquisition agreement; and (p) other Investments in an aggregate amount not to exceed $400,000 in any fiscal year.

 “Permitted Liens” means any and all of the following: (i) Liens in Our favor, including any Liens in Our favor under
the Equipment Loan Agreement between You and Us; (ii) 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 such Liens
do not have priority over any of Our Liens and You maintain adequate reserves in accordance with GAAP; (iii) Liens securing claims or demands of materialmen, artisans, mechanics, carriers, warehousemen, landlords and other like Persons arising
in the ordinary course of Your business and imposed without action of such parties, provided that the payment thereof is not yet required and that such Liens do not have 

  

					
	RingCentral_GrowthCapitalLoan	 		  	23

 
priority over any of Our Liens; (iv) Liens arising from judgments, decrees or attachments in circumstances which do not constitute an Event of Default hereunder; (v) the following
deposits, to the extent made in the ordinary course of Your 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; (vi) Liens on insurance proceeds in favor of insurance companies granted solely as security for financed
premiums; (vii) Liens securing the Senior Loan Facility and subject to the Intercreditor Agreement; (viii) purchase money Liens (A) on Equipment (other than Equipment financed by Us) acquired or held by You incurred for financing the
acquisition of the Equipment (other than Equipment financed by Us) securing no more than Five Hundred Thousand Dollars ($500,000) in the aggregate amount outstanding, or (B) existing on Equipment when acquired, if the Lien is confined to
the property and improvements and the proceeds of the Equipment; (ix) Liens of carriers, warehousemen, suppliers, or other Persons that are possessory in nature arising in the ordinary course of business so long as such Liens attach only to
Inventory and which are not delinquent or remain payable without penalty or which are being contested in good faith and by appropriate proceedings which proceedings have the effect of preventing the forfeiture or sale of the property subject
thereto; (x) leases or subleases of real property granted in the ordinary course of Your business (or, if referring to another Person, in the ordinary course of such Person’s business), and leases, subleases, non-exclusive licenses or
sublicenses of personal property (other than Intellectual Property) granted in the ordinary course of Your business (or, if referring to another Person, in the ordinary course of such Person’s business), if the leases, subleases,
licenses and sublicenses do not prohibit granting Us a security interest therein; (xi) non-exclusive license of Intellectual Property granted to third parties in the ordinary course of business, and licenses of Intellectual Property that could
not result in a legal transfer of title of the licensed property that may be exclusive in respects other than territory and that may be exclusive as to territory only as to discreet geographical areas outside of the United States; (xii) Liens
in favor of financial institutions arising in connection with Your deposit and/or securities accounts held at such institutions, provided that such security interests secure customary fees and expenses and not borrowed money; (xiii) Liens in
favor of custom and revenue authorities arising as a matter of law to secure the payment of custom duties in connection with the importation of goods; (xiii) Liens incurred in connection with the extension, renewal or refinancing of the
Indebtedness secured by Liens of the type described in clauses (i), (vii) and(viii) 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 other than any reasonable premium. 
 “Person” means any individual, sole proprietorship, partnership, joint venture, trust, unincorporated organization, association, corporation, limited liability company, institution,
public benefit corporation, other entity or government (whether federal, state, county, city, municipal, local, foreign, or otherwise, including any instrumentality, division, agency, body or department thereof). 

“Proceeds” means “proceeds,” as such term is defined in the UCC and, in any event, shall include, without limitation,
(a) any and all Accounts, Chattel Paper, Instruments, Cash or other proceeds payable to You from time to time in respect of the Collateral, (b) any and all proceeds of any insurance, indemnity, warranty or guaranty payable to You from time
to time with respect to any of the Collateral, (c) any and all payments (in any form whatsoever) made or due and payable to You from time to time in connection with any requisition, confiscation, condemnation, seizure or forfeiture of all or
any part of the Collateral by any governmental authority (or any Person acting under color of governmental authority), (d) the proceeds, damages, or recovery based on any claim of Yours against third parties (i) for past, present or future
infringement of any Copyright, Copyright License, Patent or Patent License, or (ii) for past, present or future infringement or dilution of any Trademark or Trademark License or for injury to the goodwill associated with any Trademark,
Trademark registration or Trademark licensed under any Trademark License; and (e) any and all other amounts from time to time paid or payable under or in connection with any of the Collateral. 

“PT” means Pacific Time. 

“Receivables” means (i) all of Your Accounts, Instruments, Documents, Cash, Chattel Paper, Supporting Obligations, letters of
credit, proceeds of a letter of credit, and Letter of Credit Rights, and (ii) all customer lists, software, and related business records. 

“Right To Invest” has the meaning given to it in Section 19. 

  

					
	RingCentral_GrowthCapitalLoan	 		  	24

 “Secured Obligations” means Your obligation to repay to Us all Advances (whether or not
evidenced by any Promissory Note), together with all principal, interest, fees, costs, professional fees and expenses, and other liabilities or obligations for monetary amounts owed by You to Us, including the indemnity and insurance obligations in
Sections 10, 13 and 20 hereof and including such amounts as may accrue or be incurred before or after default or workout or the commencement of any liquidation, dissolution, bankruptcy, receivership or reorganization by or against You, whether due
or to become due, matured or unmatured, liquidated or unliquidated, contingent or non-contingent, and all covenants and duties of any kind or nature, present or future, arising under this Agreement, the Promissory Notes, or any of the other Loan
Documents, as the same may from time to time be amended, modified, supplemented or restated, whether or not such obligations are partially or fully secured by the value of Collateral; provided, that the Secured Obligations shall not include
any of Your Indebtedness or obligations arising under or in connection with the Excluded Agreements. 
 “Senior Loan Facility”
means that certain Amended and Restated Loan and Security Agreement by and between Silicon Valley Bank and You dated as of October [     ], 2010 (as amended and supplemented from time to time, or restated). 

“Solvent” means, with respect to any Person on a particular date, that on such date (a) the fair value of the property of such
Person is greater than the total amount of liabilities, including contingent liabilities, of such Person; (b) the present fair salable value of the assets of such Person is not less than the amount that will be required to pay the probable
liability of such Person on its debts as they become absolute and matured; (c) such Person does not intend to, and does not believe that it will, incur debts or liabilities beyond such Person’s ability to pay as such debts and liabilities
mature; and (d) such Person is not engaged in a business or transaction, and is not about to engage in a business or transaction, for which such Person’s property would constitute an unreasonably small capital. The amount of contingent
liabilities (such as litigation, guaranties and pension plan liabilities) at any time shall be computed as the amount that, in light of all the facts and circumstances existing at the time, represents the amount that can be reasonably be expected to
become an actual or matured liability. 
 “Subordinated Indebtedness” means Indebtedness subordinated to the Secured
Obligations on terms and conditions acceptable to Us, including without limiting the generality of the foregoing, subordination of such Indebtedness in right of payment to the prior payment in full of the Secured Obligations, the subordination of
the priority of any Lien at any time securing such Indebtedness to Our Liens in Your assets and properties, and the subordination of the rights of the holder of such Indebtedness to enforce its junior Lien following an Event of Default hereunder
pursuant to a written subordination agreement approved by Us. 
 “Subsidiary” means, with respect to any Person, any Person of
which more than 50% of the voting stock or other equity interests is owned or controlled, directly or indirectly, by such Person or one or more Affiliates of such Person. 
 “Supporting Obligations” means any “supporting obligations,” as such term is defined in the UCC, now owned or acquired by You or in which You now hold or hereafter acquire any
interest. 
 “Trademark License” means any written agreement granting any right to use any Trademark or Trademark registration
in which agreement You now hold or hereafter acquire any interest, whether as licensor or licensee. 
 “Trademarks” means all
of the following property now owned or hereafter acquired by You or in which You now hold or hereafter acquire any interest: (a) all trademarks, trade names, corporate names, business names, trade styles, service marks, logos, other source or
business identifiers, prints and labels on which any of the foregoing have appeared or appear, designs and general intangibles of like nature, now existing or hereafter adopted or acquired, all registrations and recordings thereof, and any
applications in connection therewith, including, without limitation, registrations, recordings and applications in the United States Patent and Trademark Office or in any similar office or agency of the United States, any State thereof or any other
country or any political subdivision thereof and (b) reissues, extensions or renewals 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, Secured Party'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, 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. Unless otherwise defined
herein or in the other Loan Documents terms that are defined in the UCC and used herein or in the other Loan Documents shall have the meanings given to them in the UCC. 

  

					
	RingCentral_GrowthCapitalLoan	 		  	25

 “Warrant Agreement” means the Warrant Agreement dated the date hereof between the Parties
issued in connection with this Agreement. 
 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. The terms “herein,”
“hereof” and “hereunder” and other words of similar import refer to this Agreement as a whole, including all Exhibits, Annexes and Schedules, and not to any particular Section, subsection or other subdivision. 

Wherever from the context it appears appropriate, each term stated in either the singular or plural shall include the singular and the plural, and
pronouns stated in the masculine, feminine or neuter gender shall include the masculine, feminine and neuter genders. The words “including,” “includes” and “include” shall be deemed to be followed by the words
“without limitation,” the word “or” is not exclusive; references to Persons include their respective successors and assigns (to the extent and only to the extent permitted by this Agreement and the Loan Documents) or, in the case
of governmental Persons, Persons succeeding to the relevant functions of such Persons; and all references to statutes and related regulations shall include any amendments of the same and any successor statutes and regulations. 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. 
 (Signatures to Follow) 

  

					
	RingCentral_GrowthCapitalLoan	 		  	26

 IN WITNESS WHEREOF, the Parties have executed and delivered this Agreement as of the day and year
first above written. 
  

							
	BORROWER:	 		 	You:	 	RINGCENTRAL, INC.
				
		 		 	Signature:	 	/s/ Robert Lawson
				
		 		 	Print Name:	 	Robert Lawson
				
		 		 	Title:	 	CFO
				
	Accepted in Menlo Park, California:	 		 		 	
				
	LENDER:	 		 	Us:	 	TRIPLEPOINT CAPITAL LLC
				
		 		 	Signature:	 	/s/ Sajal Srivastava
				
		 		 	Print Name:	 	Sajal Srivastava
				
		 		 	Title:	 	Chief Operating Officer

 [SIGNATURE PAGE TO PLAIN ENGLISH GROWTH CAPITAL LOAN AND SECURITY AGREEMENT] 

  

					
	RingCentral_GrowthCapitalLoan	 		  	27

 Table of Exhibits and Schedules 

 

			
	Exhibit A	  	Promissory Note
		
	Exhibit B	  	Advance Request
		
	Exhibit C	  	Form of Certificate of Perfection
		
	Exhibit D	  	Certificate of Compliance
		
	Schedule 1	  	Schedule of Documents

  

					
	RingCentral_GrowthCapitalLoan	 		  	28

 EXHIBIT A 

 
 

 
 PLAIN ENGLISH PROMISSORY NOTE 
 This is a Plain English Promissory Note dated “[MONTH, DAY, YEAR]” by and between TRIPLEPOINT CAPITAL LLC, as lender, and RINGCENTRAL, INC., a
                 corporation, as borrower. The words “We”, “Us”, and “Our”, refer to TRIPLEPOINT CAPITAL LLC. The words
“You” and “Your” refer to RINGCENTRAL, INC., and not any individual. The words “Parties” refers to both, TRIPLEPOINT CAPITAL LLC AND RINGCENTRAL, INC. 

 

							
	 PROMISSORY NOTE INFORMATION

 

	 Facility Name

Growth Capital Loan

Facility
	  	 Facility Number
 0745-GC-01
	  	 Promissory Note Number

0745-GC-01-__
	  	 Principal Amount
 $________

				
	 Payment Amount

Months: [1-3][1-11]:

interest only;

Months: [4-36][12]
	  	 Loan Term
 [36 months][12 months]
	  	 Interest Rate
 [Prime + 5.75%]
  
 [Prime +5.25%]
	  	 End of Term Payment
 $[4%] [0.75%]

				
	 Interim Payment

$_______
	  	 Funding Date
 ________, 20__
	  	 First Payment Date
 ___________, 20__
	  	 Maturity Date
 _________, 20__

  

					
	 CONTACT INFORMATION

 

	 Name

TriplePoint Capital LLC
	  	 Address For Notices

2755 Sand Hill Rd., Ste. 150
 Menlo Park, CA 94025
 Tel: (650) 854-2090

Fax: (650) 854-1850
	  	 Contact Person
 Sajal Srivastava, COO
 Tel: (650) 233-2102

Fax: (650) 854-1850

email: legal@triplepointcapital.com

			
	 Customer Name

RingCentral, Inc.
	  	 Central Billing Address
 1400 Fashion Island Boulevard, Suite 700
 San Mateo, CA 94404

 
 With a copy to General Counsel
	  	 Contact Person
 Robert Lawson, CFO
 Tel: 650-376-0007

Fax: 650-376-0007

email: bob.lawson@ringcentral.com

 FOR VALUE RECEIVED, You hereby promise to pay to the order of TRIPLEPOINT CAPITAL LLC or the holder of this Plain
English Promissory Note (this “Promissory Note”) at 2755 Sand Hill Road, Ste. 150, Menlo Park, CA, 94025 or such other place of payment as the holder of this Plain English Promissory Note may specify from time to time in writing, in lawful
money of the United States of America, the principal amount of                         /100 Dollars
($                            ) together with interest at
        percent (        %)

  

					
	RingCentral_GrowthCapitalLoan	 		  	29

 
per annum from the date of this Promissory Note to maturity of each installment on the principal remaining unpaid, such principal and interest to be paid as stated on Page 1 of this Promissory
Note and the attached amortization schedule. In addition, You will pay Us an amount equal to             percent
(          %) of the principal amount of this Promissory Note that represents your End of Term Payment. Interest shall be computed daily on the basis of a year consisting of 360 days for
the actual number of days occurring in the period for which such interest is payable. Any payments made under this Promissory Note shall not be available for re-borrowing. 
 The aggregate outstanding principal balance of this Promissory Note shall be due and payable in full in immediately available funds on the Maturity Date, if not sooner paid in full. 

This Promissory Note is the Promissory Note referred to in, and is executed and delivered in connection with, the Plain English Growth Capital Loan and
Security Agreement dated as of May __, 2012 by and between the Parties, 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 that
Loan Agreement and the other documents executed in connection with all principal, interest, fees or other liabilities owed by You to Us. All terms defined in the Loan Agreement shall have the same definitions when used herein, unless otherwise
defined herein. 
 You waive presentment and demand for payment, notice of dishonor, protest and notice of protest under the UCC or any
applicable law. 
 This Promissory Note has been negotiated and delivered to Us 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. 

 

			
	YOU:           RINGCENTRAL, INC.
		
	Signature:	 	 
	Print Name:	 	 
	Title:	 	 

  

					
	RingCentral_GrowthCapitalLoan	 		  	30

 EXHIBIT B 
 ADVANCE REQUEST 
  

	To:	TRIPLEPOINT CAPITAL
LLC                                         
                Date:
                         

	 	2755 Sand Hill Road Ste 150 

	 	Menlo Park, CA 94025 

	 	Attention: Customer Administrations 

	 	Fax (650) 854-1850 

 RingCentral, Inc.,
(“We” or “Us”), hereby request from TRIPLEPOINT CAPITAL LLC (“You”) an Advance in the amount of
($                        ) on
                    ,           (at least five (5) business days from today)
pursuant to the Plain English Growth Capital Loan and Security Agreement between the Parties (the “Loan Agreement”). 
 Check
applicable box: [        ] Option A; [        ] Option B 
 We instruct You to please: 
  

	 	(a)	Issue a check payable to Us              

 

	 	    	or 

  

	 	(b)	Transfer Funds to our account              

 

	 	 	  Bank: 

	 	 	  Address: 

	 	 	  ABA Number: 

	 	 	  Account Number: 

	 	 	  Account Name: 

 We represent,
warrant and certify that: 
  

	 	•	 	 No event or circumstance has occurred or exists which individually or together with any other event or circumstance, has had or could reasonably be
expected to have a Material Adverse Effect; 

  

	 	•	 	 The representations, covenants and warranties set forth in the Loan Agreement are and shall be true and correct on and as of the date the requested
Advance is funded 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 (in which case, those representations and warranties remain true, complete and
correct as of such date); 

  

	 	•	 	 We are in compliance with all the terms and provisions set forth in any document related to this Advance (including, without limitation, Sections 4 and
5 of the Loan Agreement); 

  

	 	•	 	 As of the date hereof and the date of the funding of the requested Advance, no fact or condition exists that would (or would, with the passage of time,
the giving of notice, or both, would) constitute an Event of Default under the Loan Agreement; 

  

	 	•	 	 We understand and acknowledge that You have the right to review the financial information supporting this representation and based upon such review in
Your sole discretion You may decline to fund the requested Advance; and 

  

	 	•	 	 The Certificate of Perfection executed on
                    , is true and correct as of the date of this Advance Request. [Attach an updated Certificate of Perfection as needed.].

 Executed this              day of
                    ,              by: 

 

			
	YOU:             RINGCENTRAL, INC.
		
	Signature:	 	 
	Print Name:	 	 
	Title:	 	 

  

					
	RingCentral_GrowthCapitalLoan	 		  	31

 EXHIBIT C 
 FORM OF CERTIFICATE OF PERFECTION 
 This
Certificate of Perfection shall reference that certain Plain English Growth Capital Loan and Security Agreement dated as of
                    , 20        , by and between TRIPLEPOINT CAPITAL LLC and RINGCENTRAL, INC. (the
“Loan Agreement”). All terms not defined in this Certificate of Perfection shall have the same meanings as in the Loan Agreement. Pursuant to the terms of the Loan Agreement, RINGCENTRAL, INC. hereby certifies, represents and warrants the
following as of                     , 20      : 

 

					
	 1.      Our current name and organizational status is as
follows:

			
	 Name:
	  	 	  	
			
	 Type of Organization:
	  		  	
			
	 State of Organization:
	  	 	  	
			
	 Organization File Number:
	  	 	  	
			
	 Federal Employer Tax Identification Number:
	  	 	  	
	
	 2.      Five (5) years prior to the date of this Certificate of Perfection,
We did not do business under any other name or organization or form except the following:

			
	 Name:
	  	 	  	
			
	 Type of Organization:
	  	 	  	
			
	 State of Organization:
	  	 	  	
			
	 Organization File Number:
	  	 	  	
			
	 Federal Employer Tax Identification Number:
	  		  	
			
	 Dates of Existence:
	  	 	  	
	
	 3.      Our fiscal year ends on
            .

	
	 4.      Our current locations and the locations of all the Collateral
are:

		 	
	 Chief Executive Office:
	  	 	  	
		  		  	
		 	
	 Principal Place of Business:
	  	 	  	
		  		  	
		 	
	 Locations of Collateral:
	  	 	  	

  

					
	RingCentral_GrowthCapitalLoan	 		  	32

					
	
	 5.      The following is a list of any and all of Our joint ventures and
subsidiaries:

			
	 Name:
	  	 	  	
			
	 Type of Organization:
	  	 	  	
			
	 State of Organization:
	  	 	  	
			
	 Organization File Number:
	  	 	  	
			
	 Federal Employer Tax Identification Number:
	  	 	  	
			
	 Your Ownership Interest:
	  		  	

  

	6.	We currently maintain Deposit Accounts, other accounts holding Investment Property owned by Us, and electronic accounts (such as PayPal or similar accounts) as
follows: 

  

					
	 Bank Name/Address
	  	 Account Holder Name
	  	 Account (Type & Number)

	  
	  	  
	  	  

	  
	  	  
	  	  

	  
	  	  
	  	  

	  
	  	  
	  	  

	  
	  	  
	  	  

  

	7.	We currently have the following commercial tort claims:                 .

  

	8.	Attached is a current listing of all of Our registered Patents, Trademarks, and Copyright as of the Closing Date (or as of the most recent update as required
pursuant to Section 12). 

  

			
		 	 RINGCENTRAL, INC.

		
	Signature:	 	 
	Print Name:	 	 
	Title:	 	 

  

					
	RingCentral_GrowthCapitalLoan	 		  	33

 EXHIBIT D 
 CERTIFICATE OF COMPLIANCE 
 This Certificate
of Compliance shall reference that certain Plain English Growth Capital Loan and Security Agreement dated as of                     , 20__, by
and between TRIPLEPOINT CAPITAL LLC and RINGCENTRAL, INC. (the “Loan Agreement”). All terms not defined in this Certificate of Compliance shall have the same meanings as in the Loan Agreement. Pursuant to the terms of the Loan Agreement,
RINGCENTRAL, INC. hereby certifies, the following as of                     , 20__: 

 

	 	•	 	 We are in compliance as of the date of this Certificate of Compliance with all required covenants unless otherwise noted and attached to this
Certificate of Compliance. 

  

	 	•	 	 As of the date of this Certificate of Compliance all representations and warranties in the Loan Agreement are true and correct in all material respects
except to the extent such representations and warranties expressly relate to an earlier date (in which case, those representations and warranties remain true as of such date). 

 

	 	•	 	 The Certificate of Perfection executed on
                    , is true and correct as of the date of this Certificate of Compliance. (Attach an updated Certificate of Perfection as
needed.) 

  

			
		 	RINGCENTRAL, INC.
		
	Signature:	 	 
	Print Name:	 	 
	Title:	 	 

  

					
	RingCentral_GrowthCapitalLoan	 		  	34

 SCHEDULE 1 
 (SCHEDULE OF DOCUMENTS) 

  

					
	RingCentral_GrowthCapitalLoan	 		  	35

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