Document:

EX-10.3

 Exhibit 10.3 

SUPPLEMENT 
 to the

 Loan and Security Agreement 

dated as of February 8, 2017 

between 
 Identiv, Inc.
(“Borrower”) 
 and 

Venture Lending & Leasing VII, Inc. (“VLL7”) 

and 
 Venture
Lending & Leasing VIII, Inc. (“VLL8”) 
 (each of VLL7 and VLL8, as “Lender”) 

 
  

This is a Supplement identified in the document entitled Loan and Security Agreement, dated as of February 8, 2017 (as amended, restated,
supplemented and modified from time to time, the “Loan and Security Agreement”), by and between Borrower and Lender. All capitalized terms used in this Supplement and not otherwise defined in this Supplement have the
meanings ascribed to them in Article 10 of the Loan and Security Agreement, which is incorporated in its entirety into this Supplement. In the event of any inconsistency between the provisions of the Loan and Security Agreement and this Supplement,
this Supplement is controlling. 
 The parties are entering into this single Supplement to the Loan and Security Agreement for convenience,
and this Supplement is and shall be interpreted for all purposes as separate and distinct agreements between Borrower and VLL7, on the one hand, and Borrower and VLL8, on the other hand, and nothing in this Supplement shall be deemed a joint
venture, partnership or other association between VLL7 and VLL8. Each reference in this Supplement to “Lender” shall mean and refer to each of VLL7 and VLL8, singly and independent of one another. Without limiting the generality of the
foregoing, the Commitment, covenants and other obligations of “Lender” under the Loan and Security Agreement, as supplemented hereby, are several and not joint obligations of VLL7 and VLL8, and all rights and remedies of “Lender”
under the Loan and Security Agreement, as supplemented hereby, may be exercised by VLL7 and/or VLL8 independently of one another. 
 In
addition to the provisions of the Loan and Security Agreement, the parties agree as follows: 
 Part 1 – Additional
Definitions: 
 “Change of Control” means the first to occur of: (a) the closing of any merger, combination,
privatization, reorganization or consolidation of Borrower into or with another entity after which the stockholders of Borrower immediately prior to such transaction do not hold immediately following the consummation of the transaction by virtue of
their shares in Borrower or securities received in exchange for such shares in connection with the transaction, 50% or more of the voting power of the surviving entity in proportions substantially the same as those that existed immediately prior to
such transaction and with substantially the same rights, preferences, privileges and restrictions as the shares they held immediately prior to the transaction; (b) the closing of any sale, lease, transfer, license or other disposition, in a
single transaction or series of related transactions, of all or substantially all of the assets of Borrower; (c) the closing of any the sale or transfer by Borrower or its stockholders of 50% or more of the voting power of Borrower in a
transaction or series of related transactions; or (d) the closing of any transaction or series of related transactions deemed to be a liquidation, dissolution or winding up of Borrower pursuant to the provisions of Borrower’s Certificate
of Incorporation, as amended and restated from time to time. 
 “Commitment” means, as the context may require, the VLL7
Commitment or the VLL8 Commitment. Each Lender’s Commitment is several and not joint with the Commitment of the other Lender. 

 “Designated Rate” means, for the Growth Capital Loan, a fixed rate
of interest per annum equal to twelve and one-half of one percent (12.50%). 
 “Growth
Capital Loan” means the Loan requested by Borrower and funded by Lender under its Commitment for general corporate purposes of Borrower. 

“Loan Commencement Date” means, with respect to the Growth Capital Loan: (a) the first day of the first
full calendar month following the Borrowing Date of such Loan if such Borrowing Date is not the first day of a month; or (b) the same day as the Borrowing Date if the Borrowing Date is the first day of a month. 

“Termination Date”: The Termination Date is the earlier of: (i) the date Lender may terminate its
Commitment or extending other credit pursuant to the rights of Lender under Article 7 of the Loan and Security Agreement; and (ii) February 10, 2017. 

“Threshold Amount” means Two Hundred Fifty Thousand Dollars ($250,000). 

“VLL7 Commitment” means, subject to the terms and conditions set forth in the Loan and Security Agreement and this
Supplement, VLL7’s commitment to make a Growth Capital Loan to Borrower up to the original principal amount of Five Million Dollars ($5,000,000). 

“VLL8 Commitment” means, subject to the terms and conditions set forth in the Loan and Security Agreement and this
Supplement, VLL8’s commitment to make a Growth Capital Loan to Borrower up to the original principal amount of Five Million Dollars ($5,000,000). 

“Warrants” is defined in Part 2, Section 3(b) hereof. 

Part 2 – Additional Covenants and Conditions: 

1. Growth Capital Loan Facility. 

(a) Additional Conditions Precedent regarding Funding of the Growth Capital Loan. In addition to the satisfaction of all
of the other conditions precedent specified in Article 4 of the Loan and Security Agreement and this Supplement, Lender’s obligation to fund the Growth Capital Loan under its Commitment is subject to: (i) receipt by Lender of evidence
satisfactory to it, as determined by Lender in its reasonable judgment, that Borrower does not have any outstanding Indebtedness to Opus Bank, Borrower has terminated its agreement(s) with Opus Bank, Opus Bank has no further commitment to provide
credit accommodations to Borrower and Opus Bank has released any Liens it may have had on the Collateral; and (ii) satisfactory review by Lender of Borrower’s pending litigation, including what is covered by AIG and potential liabilities
to Borrower resulting from an adverse outcome of such litigation (collectively, the “Milestones”). Subject to satisfaction of the Milestones and the other terms and conditions precedent specified in Article 4 of the Loan and
Security Agreement and this Supplement, Lender agrees to make a Growth Capital Loan to Borrower under Lender’s Commitment from and after the Closing Date up to and including the Termination Date in an original principal amount up to, but not
exceeding, Lender’s Commitment. 
 (b) Repayment of Growth Capital Loan. Principal of, and interest on, the Growth Capital
Loan shall be payable as set forth in a Note evidencing such Growth Capital Loan (substantially in the form attached hereto as Exhibit “A”), which Note shall provide substantially as follows: principal and
interest at the Designated Rate shall be fully amortized over a period of thirty (30) months in equal, monthly installments, commencing after an initial twelve (12) month period of interest-only installments at the Designated Rate (such
initial twelve (12) month period sometimes being referred to herein as the “Interest-only Period”). In particular, on the Borrowing Date applicable to such Growth Capital Loan, Borrower shall pay to Lender
(i) if the Borrowing Date is earlier than the Loan Commencement Date, interest only at the Designated Rate, in advance, on the outstanding principal 

 
balance of the Growth Capital Loan for the period from the Borrowing Date through the last day of the calendar month in which such Borrowing Date occurs, and (ii) the first (1st) interest-only installment at the Designated Rate, in advance, on the outstanding principal balance of the Note evidencing such Loan for the ensuing month. Commencing on the first day of the second
full month after the Borrowing Date, and continuing on the first day of each of the third, fourth, fifth, sixth, seventh, eighth, ninth, tenth, eleventh and twelfth full months thereafter, Borrower shall pay to Lender interest only at the Designated
Rate, in advance, on the outstanding principal balance of the Loan evidenced by such Note for the ensuing month. Commencing on the first day of the thirteenth full month after the Borrowing Date, and continuing on the first day of each consecutive
calendar month thereafter, Borrower shall pay to Lender principal, plus interest at the Designated Rate, in advance, in thirty (30) equal consecutive monthly installments in an amount sufficient to fully amortize the Loan evidenced by such
Note. 
 2. Prepayment. The Growth Capital Loan may be prepaid as provided in this Section 2 only. 

(a) Generally. Except as set forth in Section 2(b) below, Borrower may prepay all, but not less than all, of the Growth Capital
Loan in whole, but not in part, at any time by tendering to Lender a cash payment in respect of such Loan in an amount determined by Lender equal to the sum of: (i) the accrued and unpaid interest on such Loan as of the date of prepayment; and
(ii) an amount equal to the total amount of all scheduled but unpaid payments of principal and interest that would have been due and payable from the date of prepayment through the latest repayment date set forth in the Note evidencing each
such Loan had such Loan remained outstanding and been paid in accordance with the terms of such Note. 
 (b) At any Time after 12
months of Amortization. Notwithstanding anything to the contrary in Section 2(a), commencing at any time after Borrower has made at least twelve (12) consecutive, regularly scheduled amortization payments of principal and interest on the
Growth Capital Loan and so long as no Event of Default has occurred and is continuing, Borrower may prepay all, but not less than all, of the Growth Capital Loan in whole, but not in part, by tendering to Lender cash payment in respect of such
Growth Capital Loan in an amount (as determined by Lender) equal to the sum of: (i) the accrued and unpaid interest on such Growth Capital Loan as of the date of prepayment; (ii) the unpaid principal balance of such Growth Capital Loan as
of the date of prepayment and (iii) the product of (A) 0.80 and (B) the interest that would have accrued and been payable from the date of prepayment through the stated date of maturity of such Growth Capital Loan had it remained
outstanding and been paid in accordance with the terms of the related Note. For avoidance of doubt, Borrower and Lender acknowledge and agree that interest-only payments made during the Growth Capital Loan’s Interest-only Period shall
not be counted toward the twelve (12) amortization payments required by the first sentence of this Section 2(b). 
 3.
Issuance of Warrants. 
 (a) VLL7 Warrant. As additional consideration for the making of its Commitment, VLL7 has earned
and is entitled to receive immediately upon the execution of the Loan and Security Agreement and this Supplement, a warrant instrument issued by Borrower (the “VLL7 Warrant”). 

(b) VLL8 Warrant. As additional consideration for the making of its Commitment, VLL8 has earned and is entitled to receive
immediately upon the execution of the Loan and Security Agreement and this Supplement, a warrant instrument issued by Borrower (the “VLL8 Warrant” and sometimes referred to herein with the VLL7 Warrant, individually, as a
“Warrant” and together, as the “Warrants”). 
 (c) General. The Warrants shall be in form and
substance satisfactory to Lender. Borrower acknowledges that VLL7 has assigned its rights to receive the VLL7 Warrant to its parent, Venture Lending & Leasing VII, LLC (“LLC7”), and that VLL8 has assigned its rights to
receive the VLL8 Warrant to its parent, Venture Lending & Leasing VIII, LLC (“LLC8”). In connection therewith, Borrower shall issue the Warrants directly to LLC7 and LLC8, as applicable. Upon request of Borrower, each of
VLL7 and VLL8 shall furnish to Borrower a copy of the agreement in which it assigned its rights to receive its Warrant to its parent. 

 4. Commitment Fee. As an additional condition precedent under Section 4.1 of
the Loan and Security Agreement, Lender shall have completed to its satisfaction its due diligence review of Borrower’s business and financial condition and prospects, and Lender’s Commitment shall have been approved. If this condition is
not satisfied, the $50,000 commitment fee (the “Commitment Fee”) previously paid by Borrower shall be refunded. Except as set forth in this Section 4, the Commitment Fee is not refundable. 

5. Documentation Fee Payment. Pursuant to Section 9.8(a) of the Loan and Security Agreement, Borrower shall reimburse
Lender, on demand, for Lender’s actual reasonable, documented and out-of-pocket attorneys’ fees, costs and expenses incurred in connection with the preparation
and negotiation of the Loan Documents, plus Lender’s actual costs and filing fees related to perfection of its Liens in the Collateral in any jurisdiction in which the same is located, recording a copy of the Intellectual Property Security
Agreement with the United States Patent and Trademark Office or the United States Copyright Office, as applicable, and confirming the priority of such Liens (collectively, the “Documentation Fee Payment”). Borrower and
Lender acknowledge and agree that the Documentation Fee Payment may be debited from the Primary Operating Account through an ACH transfer. 

6. Borrower’s Primary Operating Account and Wire Transfer Instructions: 

 

			
	Institution Name:        	  	East West Bank
	Address:	  	135 N. Los Robles Ave., Suite 600, Pasadena, CA 91101
	ABA No.:	  	 XXXXX 

	Contact Name:	  	Stephanie Tan
	Phone No.:	  	408.330.2017
	E-mail:	  	Stephanie.Tan@eastwestbank.com
	Account Title:	  	Identiv, Inc. (Operating Account)
	Account No.:	  	 XXXXX

 7. Debits to Account for ACH Transfers. For purposes of Sections 2.2 and 5.10 of the Loan and
Security Agreement, the Primary Operating Account shall be the bank account set forth in Section 6 above, unless and until such account is changed in accordance with Section 5.10 of the Loan and Security Agreement. Borrower
hereby agrees that the Growth Capital Loan will be advanced to the account specified above and regularly scheduled payments of principal and interest, as well as the Documentation Fee Payment, will be automatically debited from the same account.
Borrower hereby confirms that the bank at which the Primary Operating Account is maintained uses that same ABA Number for incoming wires transfers to the Primary Operating Account and outgoing ACH transfers from the Primary Operating Account. Lender
acknowledges that the Primary Operating Account may be subject to the provisions of the Intercreditor Agreement. 
 8.
Post-closing Agreement. No later than the date which is 90 days after the Closing Date, Borrower shall have delivered to Lender or caused to be delivered to Lender an account control agreement (or like agreement that will perfect
Lender’s Liens by “control” in accordance with Article 9 of the UCC) for any Deposit Account or investment/securities account in which Borrower has any interest as of such date (not including Deposit Accounts exclusively used for
payroll, payroll taxes and other employee wage and benefit payments to or for the benefit of Borrower’s employees). Lender acknowledges and agrees that any such Liens shall at all times be subject to the terms of the Intercreditor Agreement.

 Part 3 – Additional Representations: 

Borrower represents and warrants that as of the Closing Date and the Borrowing Date of the Growth Capital Loan: 

 

	 	a)	Its chief executive office is located at: 2201 Walnut Avenue, Suite 100, Fremont, CA 94538 

  

	 	b)	Its Equipment is located at: 1900-B, Carnegie Ave, Santa Ana, CA 92705 

  

	 	c)	Its Inventory is located at: (i) 1900-B, Carnegie Ave, Santa Ana, CA 92705; (ii) TX Systems-Consignment 6242 Ferris Square, San Diego, CA 92121; and (iii) QAS Consignment
1401 E. Saint Gertrude PL, Santa Ana, CA 92705 

  

	 	d)	Its Records are located at: 1900-B, Carnegie Ave, Santa Ana, CA 92705 

  

	 	e)	In addition to its chief executive office, Borrower maintains offices or operates its business at the following locations: (i) 1900-B, Carnegie Ave, Santa Ana, CA 92705; and (ii)
2425 Wilson Blvd, Arlington VA 22201 

  

	 	f)	Other than its full corporate name, Borrower has conducted business using the following trade names or fictitious business names: (i) Identive Group, Inc.; and (ii) SCM Microsystems Inc. 

  

	 	g)	Its state corporation identification number is: 2694665 (Delaware) 

  

	 	h)	Its U.S. federal tax identification number is: 77-0444317 

  

	 	i)	Including Borrower’s Primary Operating Account identified in Section 6 above, Borrower maintains the following Deposit Accounts and investment accounts: 

 

			
	Institution Name:	  	Opus Bank
	Address:	  	19900 MacArthur Boulevard, 12th Irvine, CA 92612
	ABA No.:	  	 XXXXX

	Contact Name:	  	Claudia Bustos
	Phone No.:	  	949-251-8124
	E-mail:	  	cbustos@opusbank.com
	Account Title:	  	Identiv, Inc.
	Account No.:	  	 XXXXX

	Account No.:	  	XXXXX

  

			
	Institution Name:	  	Union Bank
	Address:	  	400 California St, San Francisco, CA 94101
	ABA No.:	  	 XXXXX

	Contact Name:	  	Brina Christopher
	Phone No.:	  	949-553-6862
	E-mail:	  	Brina.Christopher@unionbank.com
	Account Title:	  	Identiv, Inc.
	Account No.:	  	 XXXXX

 
			
	Institution Name:	  	East West Bank
	Address:	  	135 N. Los Robles Ave., Suite 600, Pasadena, CA 91101
	ABA No.:	  	XXXXXXXX
	Contact Name:	  	Stephanie Tan
	Phone No.:	  	408.330.2017
	E-mail:	  	Stephanie.Tan@eastwestbank.com
	Account Title:	  	Identiv, Inc.
	Account No.:	  	XXXXXXXX (Operating Account)
	Account No.:	  	XXXXXXXX (Collections Account)

 Part 4 – Additional Loan Documents: 

 

			
	Form of Promissory Note	  	Exhibit “A”
	Form of Borrowing Request	  	Exhibit “B”
	Form of Compliance Certificate	  	Exhibit “C”

 [Remainder of this page intentionally left blank; signature page follows] 

 [Signature page to Supplement to Loan and Security Agreement] 

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

 

					
		  	BORROWER:
		
		  	IDENTIV, INC.
			
		  	By:	  	 /s/ Steven Finney

		  	Name:	  	Steven Finney
		  	Title:	  	Interim CFO
		
	Address for Notices:	  	  

		  	  

		  	Attn:
		  	Fax #:
		  	Phone #:
		
		  	LENDER:
		
		  	VENTURE LENDING & LEASING VII, INC.
			
		  	By:	  	 /s/ Jay Cohan

		  	Name:	  	Jay Cohan
		  	Title:	  	Vice President
		
	Address for Notices:	  	104 La Mesa Dr., Suite 102
		  	Portola Valley, CA 94028
		  	Attn: Chief Financial Officer
		  	Fax # 650-234-4343
		  	Phone # 650-234-4300
		
		  	LENDER:
		
		  	VENTURE LENDING & LEASING VIII, INC.
			
		  	By:	  	 /s/ Jay Cohan

		  	Name:	  	Jay Cohan
		  	Title:	  	Vice President
		
	Address for Notices:	  	104 La Mesa Dr., Suite 102
		  	Portola Valley, CA 94028
		  	Attn: Chief Financial Officer
		  	Fax # 650-234-4343
		  	Phone # 650-234-4300

 EXHIBIT “A” 

FORM OF PROMISSORY NOTE 

[Note No. X-XXX] 
  

			
	$                        	  	
                       
         , 20    
 Portola Valley, California

 The undersigned (“Borrower”) promises to pay to the order of VENTURE LENDING &
LEASING [VII/VIII]1, INC., a Maryland corporation (“Lender”), at such place as Lender may designate in writing, in lawful money of the United States of America, the principal sum
of                      Dollars ($            ), with interest thereon from the date
hereof until maturity, whether scheduled or accelerated, at a fixed rate per annum equal to twelve and one-half of percent (12.50%) (the “Designated Rate”), according to the payment schedule
described herein, except as otherwise provided herein. 
 This Note is one of the Notes referred to in, and is entitled to all the benefits
of, a Loan and Security Agreement, dated as of February 8, 2017, between Borrower and Lender (as the same has been and may be amended, restated or supplemented from time to time, the “Loan Agreement”). Each capitalized term not
otherwise defined herein shall have the meaning set forth in the Loan Agreement. The Loan Agreement contains provisions for the acceleration of the maturity of this Note upon the happening of certain stated events. 

Principal of and interest on this Note shall be payable as follows: 

On the Borrowing Date, Borrower shall pay [(i) if the Borrowing Date is not the first day of the
month,] interest only at the Designated Rate, in advance, on the outstanding principal balance of this Note for the period from the Borrowing Date through [the last day of the same month]; and (ii)] the first
interest-only installment at the Designated Rate, in advance, on the outstanding principal balance of this Note for the month of [date of first regular interest-only installment] in the amount of
                    Dollars ($            ). 

Commencing on the first day of the second full month after the Borrowing Date, and continuing on the first day of each of the
third, fourth, fifth, sixth, seventh, eighth, ninth, tenth, eleventh and twelfth consecutive full months thereafter, Borrower shall pay, in advance, interest only at the Designated Rate on the principal balance outstanding hereunder, in the amount
of                      Dollars ($            ) each. 

Commencing on the first day of the thirteenth full month after the Borrowing Date, and continuing on the first day of each
consecutive month thereafter, Borrower shall pay principal and interest at the Designated Rate, in advance, in thirty (30) equal consecutive monthly amortization installments of
                     Dollars ($            ) each. 

This Note may be prepaid only as permitted under Section 2 of Part 2 of the Supplement to the Loan Agreement. 

Any unpaid payments of principal or interest on this Note shall bear interest from their respective maturities, whether scheduled or
accelerated, at a rate per annum equal to the Default Rate, compounded monthly. Borrower shall pay such interest on demand. 
  

	1 	Separate Notes will be issued to each of Venture Lending & Leasing VII, Inc. and Venture Lending & Leasing VIII, Inc. (Lenders will prepare Notes) 

 Interest, charges and fees shall be calculated for actual days elapsed on the basis of a 360-day year, which results in higher interest, charge or fee payments than if a 365-day year were used. In no event shall Borrower be obligated to pay interest, charges or
fees at a rate in excess of the highest rate permitted by applicable law from time to time in effect. 
 If Borrower is late in making any
payment under this Note by more than five (5) days, Borrower agrees to pay a “late charge” of five percent (5%) of the installment due, but not less than fifty dollars ($50) for any one such delinquent payment. This late charge may be
charged by Lender for the purpose of defraying the expenses incidental to the handling of such delinquent amounts. Borrower acknowledges that such late charge represents a reasonable sum considering all of the circumstances existing on the date of
this Note and represents a fair and reasonable estimate of the costs that will be sustained by Lender due to the failure of Borrower to make timely payments. Borrower further agrees that proof of actual damages would be costly and inconvenient. Such
late charge shall be paid without prejudice to the right of Lender to collect any other amounts provided to be paid or to declare a default under this Note or any of the other Loan Documents or from exercising any other rights and remedies of
Lender. 
 This Note shall be governed by, and construed in accordance with, the laws of the State of California, excluding those laws that
direct the application of the laws of another jurisdiction. 
  

			
	IDENTIV, INC.
		
	By:	 	  

	Name:	 	  

	Its:	 	  

 EXHIBIT “B” 

FORM OF BORROWING REQUEST 
 [date] 

Venture Lending & Leasing [VII/VIII]2, Inc. 

104 La Mesa Dr., Suite 102 
 Portola Valley, CA 94028 

 

	Re:	Identiv, Inc.  

 Ladies and Gentlemen: 

Reference is made to the Loan and Security Agreement, dated as of February 8, 2017 (as amended, restated or supplemented from time to
time, the “Loan Agreement”; the capitalized terms used herein as defined therein), between Venture Lending & Leasing [VII/VIII], Inc. (“Lender”) and Identiv, Inc. (“Borrower”). 

The undersigned is the                  of Borrower and hereby
requests on behalf of Borrower a Loan under the Loan Agreement, and in that connection certifies as follows: 
 1. The amount of the proposed
Loan is                          Dollars ($            ). The
Borrowing Date of the proposed Loan is                 . 

2. As of this date, no Default or Event of Default has occurred and is continuing, or will result from the making of the proposed Loan, the
representations and warranties of Borrower contained in Article 3 of the Loan Agreement and Part 3 of the Supplement are true and correct in all material respects other than those representations and warranties expressly referring to a specific date
which are true and correct in all material respects as of such date, and the conditions precedent described in Article 4 of the Loan Agreement and Part 2 of the Supplement, as applicable, have been met. 

3. No event has occurred that has had or could reasonably be expected to have a Material Adverse Change. 

4. Borrower’s most recent financial statements, financial projections or business plan dated
                , as reviewed by Borrower’s Board of Directors, are enclosed herewith in the event such financial statements, financial projections or business plan
have not been previously provided to Lender. 
 Remainder of this page intentionally left blank; signature page follows 

 
  

	2 	Separate Borrowing Requests will be delivered to each of Venture Lending & Leasing VII, Inc. and Venture Lending & Leasing VIII, Inc. (Lenders will prepare Borrowing Requests) 

 Borrower shall notify you promptly before the funding of the Loan if any of the matters to which
I have certified above shall not be true and correct on the Borrowing Date.  
  

			
	 Very truly yours,

	
	 IDENTIV, INC.

		
	By:	 	  

	 Name:
	 	  

	 Title:*
	 	  

  
  

	* 	Must be executed by Borrower’s Chief Financial Officer or other executive officer. 

 EXHIBIT “C” 

FORM OF 
 COMPLIANCE
CERTIFICATE 
 Venture Lending & Leasing VII, Inc. 

Venture Lending & Leasing VIII, Inc. 
 104 La Mesa Dr.,
Suite 102 
 Portola Valley, CA 94028 
 Re: Identiv,
Inc. 
 Ladies and Gentlemen: 
 Reference
is made to the Loan and Security Agreement, dated as of February 8, 2017 (as the same has been and may be supplemented, amended and modified from time to time, the “Loan Agreement,” the capitalized terms used herein as defined
therein), between each of Venture Lending & Leasing VII, Inc. and Venture Lending & Leasing VIII, Inc. (each, “Lender”) and Identiv, Inc. (“Borrower”). 

The undersigned authorized representative of Borrower hereby certifies in such capacity that in accordance with the terms and conditions of
the Loan Agreement, (i) no Default or Event of Default has occurred and is continuing, except as noted below, and (ii) Borrower is in compliance for the financial reporting period ending
                 with all required financial reporting under the Loan Agreement, except as noted below. Attached herewith are the required documents supporting the
foregoing certification. The undersigned authorized representative of Borrower further certifies in such capacity that: (a) the accompanying financial statements have been prepared in accordance with Borrower’s past practices applied on a
consistent basis, or in such manner as otherwise disclosed in writing to Lender, throughout the periods indicated; and (b) the financial statements fairly present in all material respects the financial condition and operating results of
Borrower and its Subsidiaries, if any, as of the dates, and for the periods, indicated therein, subject to the absence of footnotes and normal year-end audit adjustments (in the case of interim monthly
financial statements), except as explained below. 
 Please provide the following requested information and 

indicate compliance status by either circling or otherwise marking Yes/No under “Included”: 

 

					
	 REPORTING REQUIREMENT
	  	 REQUIRED
	  	 INCLUDED/COMPLIES

	Unaudited Balance Sheet, Income Statement & Cash Flow Statement	  	Monthly, within 30 days	  	YES / NO
			
	Operating Budgets, Board Reports & Updated Capitalization Tables	  	As modified	  	YES / NO
			
	Audited, Annual Financial Statements	  	Annually, within 180 days of year-end	  	YES / NO
			
	Date of most recent Board-approved budget/plan                 	  		  	
			
	Any change in budget/plan since version most recently delivered to Lender	  		  	YES / NO

 If Yes, please attach 

 Date of most recent capitalization table:
                             
  

			
	Any changes in capitalization table since version most recently delivered to Lender?:	  	YES / NO

 If Yes, please attach a copy of latest capitalization table 

PERMITTED INDEBTEDNESS 
 Pursuant to Section 6.1(e) of the
Loan Agreement, the undersigned represents and warrants that as of the date hereof, the Indebtedness outstanding of Borrower to EWB is:
$                    .3 

EQUITY & CONVERTIBLE NOTE FINANCINGS 

Please provide the following information (if applicable) regarding Borrower’s most-recent equity and/or convertible note financing each time this
Certificate is delivered to Lender 
 Date of Last Round Raised: _________ 
  

			
	Has there been any new financing since the last Compliance Certificate submitted?	  	YES / NO

 If “YES” please attach a copy of the Capitalization Table 

Date Closed:                  Series:
                 Per Share Price: $                 

Amount Raised:                  Post Money Valuation:
                         
  

			
	Any stock splits since date of last report?	  	YES / NO

 If yes, please provide any information on stock splits which would affect valuation: 

 
  
  

			
	Any dividends since date of last report?	  	YES / NO

 If yes, please provide any information on dividends which would affect valuation: 

 
  
  

			
	Any unusual terms? (i.e., Anti-dilution, multiple preference, etc.)	  	YES / NO

 If yes, please explain: 
  

 
 ACCOUNT CONTROL AGREEMENTS 

Pursuant to Section 6.11 of the Loan Agreement, Borrower represents and warrants that: (i) as of the date hereof, it maintains only those deposit and
investment accounts set forth below; and (ii) to the extent required by Section 6.11 of the Loan Agreement, a control agreement has been executed and delivered to Lender with respect to each such account [Note: If Borrower has
established any new account(s) since the date of the last compliance certificate, please so indicate]. 
 Deposit Accounts 

 

											
	 	  	 Name of Institution
	  	 Account Number
	  	 Control Agt.

In place?
	  	 Complies
	  	 New

Account

	 1.)
	  	                                   
         	  	                                   
         	  	YES / NO	  	YES / NO	  	YES / NO
						
	 2.)
	  	                                   
         	  	                                   
         	  	YES / NO	  	YES / NO	  	YES / NO
						
	 3.)
	  	                                   
         	  	                                   
         	  	YES / NO	  	YES / NO	  	YES / NO
						
	 4.)
	  	                                   
         	  	                                   
         	  	YES / NO	  	YES / NO	  	YES / NO

  

	3 	Cannot exceed $10,000,000 in aggregate principal amount outstanding. 

 Investment Accounts 
  

											
	 	  	 Name of Institution
	  	 Account Number
	  	 Control Agt.

In place?
	  	 Complies
	  	 New

Account

	 1.)        
	  	                                   
                             	  	                                   
                             	  	YES / NO	  	YES /NO	  	YES /NO
						
	 2.)
	  	                                   
                             	  	                                   
                             	  	YES / NO	  	YES / NO	  	YES /NO
						
	 3.)
	  	                                   
                             	  	                                   
                             	  	YES / NO	  	YES / NO	  	YES /NO
						
	 4.)
	  	                                   
                             	  	                                   
                             	  	YES / NO	  	YES / NO	  	YES /NO

 AGREEMENTS WITH PERSONS IN POSSESSION OF TANGIBLE COLLATERAL 

Pursuant to Section 5.9(e) of the Loan Agreement, Borrower represents and warrants that: (i) as of the date hereof, tangible Collateral is located at the
addresses set forth below; and (ii) to the extent required by Section 5.9(e) of the Loan Agreement, a Waiver has been executed and delivered to Lender, or such Waiver has been waived by Lender, [Note: If Borrower has located Collateral at
any new location since the date of the last compliance certificate, please so indicate]. 
  

											
	 	  	 Location of Collateral
	  	Value of Collateral at such
Locations	  	 Waiver

In place?
	  	 Complies?
	  	 New

Location?

	 1.)        
	  	                                   
                                         
        	  	$______________________	  	YES / NO	  	YES / NO	  	YES / NO
						
	 2.)
	  	                                   
                                         
        	  	$_______________________	  	YES / NO	  	YES / NO	  	YES / NO
						
	 3.)
	  	                                   
                                         
        	  	$_______________________	  	YES / NO	  	YES / NO	  	YES / NO
						
	 4.)
	  	                                   
                                         
        	  	$_______________________	  	YES / NO	  	YES / NO	  	YES / NO

 SUBSIDIARIES AND OTHER PERSONS 

Pursuant to Section 6.14(a) of the Loan Agreement, Borrower represents and warrants that: (i) as of the date hereof, it has directly or indirectly
acquired or created, or it intends to directly or indirectly acquire or create, each Subsidiary or other Person described below; and (ii) such Subsidiary or Person has been made a co-borrower under the
Loan Agreement or a guarantor of the Obligations [Note: If Borrower has acquired or created any Subsidiary since the date of the last compliance certificate, please so indicate]. 

											
	 	  	 Name:
	  	 Jurisdiction of

formation or organization:4
	  	 Co-borrower

or guarantor ?
	  	 Complies?
	  	 New

Subsidiary
 or Person?

	 1.)        
	  	                                   
                                 	  	                                   
             	  	YES / NO	  	YES / NO	  	YES / NO
						
	 2.)
	  	                                   
                                 	  	                                   
             	  	YES / NO	  	YES / NO	  	YES / NO
						
	 3.)
	  	                                   
                                 	  	                                   
             	  	YES / NO	  	YES / NO	  	YES / NO
						
	 4.)
	  	                                   
                                 	  	                                   
             	  	YES / NO	  	YES / NO	  	YES / NO

 EXPLANATIONS 
  

 
  

 
  

 
  

 
  

	4 	Under the “Explanations” heading (see below) please include a description of such Subsidiary’s or Person’s fully diluted capitalization and Borrower’s purpose for its acquisition or creation of
such Subsidiary if such information has not been previously furnished to Lender. 

 [Signature page to Compliance Certificate] 

 

			
	Very truly yours,
	
	IDENTIV, INC.
		
	By:	 	/s/ STEVEN FINNEY
	 Name:
	 	 STEVEN
FINNEY

	 Title:*
	 	 INTERIM CFO

  

	* 	Must be executed by Borrower’s Chief Financial Officer or other executive officer.Exhibit 10.1

AMAZING ENERGY OIL AND GAS CO., INC.

2017 STOCK OPTION PLAN

ARTICLE I

PURPOSE

Amazing Energy Oil and Gas Co., Inc. (the "Company"), is largely dependent for the successful conduct of its business on the initiative, effort and judgment of its officers, employees, and others who supply services to it.  This Stock Option Plan (the "Plan") is intended to provide the foregoing with an incentive through stock ownership in the Company and encourage them to remain in the Company's service.  Moreover, since the Incentive Stock Options and Non‐Qualified Stock Options provided for in the Plan are subject to various alternative provisions of the Internal Revenue Code of 1986, as amended (the "Code"), the Committee (as hereinafter defined) will have considerable latitude in shaping options granted under the Plan to the particular circumstances of the optionee, thus recognizing the full incentive value of the option.

ARTICLE II

ADMINISTRATION

The Plan shall be administered by the Board of Directors (the "Board") of the Company.  The Board, at its option, may delegate the administration of the Plan to another committee of the Board subject to the provisions of this Article II.  Subject to the express provisions of the Plan, the Board shall have plenary authority, in its discretion, to approve the individuals within the class set forth in Article IV to whom, and the time and price per share at which, options shall be granted, and the number of shares to be subject to each option.  In making such determination, the Board may take into account the nature of the services rendered by the respective employees, their present and potential contributions to the Company's success and such other factors as the Board in its discretion shall deem relevant.  Subject to the express provisions of the Plan, the Board shall also have plenary authority to interpret the Plan, to prescribe, amend and rescind rules and regulations regulating it, and to make all other determinations necessary or advisable for the administration of the Plan.  The Board's determination on the matters referred to in this Article II shall be final, conclusive and binding upon all optionees.

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ARTICLE III

AMOUNT OF STOCK AND DURATION OF PLAN

The aggregate amount (subject to adjustment as provided in Article VIII) of stock which may be purchased pursuant to options granted under this Plan shall be ten million (10,000,000) shares of the Company's Common Stock.  Any option granted hereunder must be granted within ten (10) years from the date of approval of adoption of the Plan by the Board or the date on which this Plan is approved by the Company's shareholders, whichever is earlier.  Shares subject to options under the Plan may, in the sole discretion of the Board, be either authorized and unissued shares or issued shares which have been acquired by the Company and are being held in its treasury.  When options have been granted under the Plan and have lapsed unexercised or partially unexercised, the shares which were subject thereto may be reoptioned under the Plan.

ARTICLE IV

ELIGIBILITY AND PARTICIPATION

All officers, employees, and others who have supplied services to the Company shall be eligible to receive Stock Options under the Plan.

ARTICLE V

TERMS AND CONDITIONS OF OPTIONS

Each option granted under the Plan shall be evidenced by a Stock Option Agreement (the "Agreement"), the form of which shall have been approved by the Board and Counsel to the Company.  The Agreement shall be executed by the Company and the optionee and shall set forth the terms and conditions of the option, which terms and conditions shall include, but not by way of limitation, the following:

1.  Option Price.  The option price shall be determined by the Board.

2.  Term of Option.  The term of the option shall be selected by the Board, but in no event shall such term exceed ten (10) years.

3.  Transferability.  Options granted hereunder shall not be transferable otherwise than by will or operation of the laws of descent and distribution.  During the lifetime of the optionee, options granted hereunder shall be exercisable only by the optionee.

4.  Termination of Employment.  In the event of an optionee's termination of employment with the Company for any reason other than death, all options granted hereunder shall thereupon terminate, unless an exception has been granted in writing by the Board.  The Board may, in its discretion, direct that certain Agreements contain provision permitting exercise of an option after an optionee's retirement.  Upon the termination of an optionee's employment by reason of his death, such optionee's option(s) shall terminate to the extent it was not exercisable at the date of his death.  To the extent such options

2

were then exercisable by the optionee, optionee's estate or the beneficiaries thereof shall be entitled to exercise such options for a period of three (3) months from the date of his death, (unless the option(s) should sooner terminate according to its own provisions) but not thereafter.  Notwithstanding the other provisions of this subparagraph 4, no option shall be exercised more than ten (10) years from the date upon which it is granted. Options granted to service providers who are not officers or directors of the Company will not terminate.

5.  Other Conditions.  At its sole discretion, the Board may impose other conditions upon the options granted hereunder, including, but not by way of limitation, percentage limitations upon the exercise of options granted hereunder.  If the Plan and the shares of Common Stock reserved for options hereunder have not been registered under the Securities Act of 1933, as amended (the "Act"), the Board shall satisfy itself that the exemption from registration afforded by Section 4(a)(2) of the Act will be available.

ARTICLE VI

INCENTIVE STOCK OPTIONS

The Board, in recommending and granting stock options hereunder, shall have the discretion to determine that certain options shall be Incentive Stock Options, as defined in Section 422A of the Code and the regulations thereunder, while other options shall be Non‐Qualified Stock Options.  Neither the members of the Board nor the Company shall be under any obligation or incur any liability to any person by reason of the determination by the Board whether an option granted under the Plan shall be an Incentive Stock Option or a Non‐Qualified Stock Option.  The provisions of this Article VI shall be applicable to all Incentive Stock Options at any time granted or outstanding under the Plan.

All Incentive Stock Options granted or outstanding under the Plan shall be granted and held subject to and in compliance with the terms and conditions specifically set forth in Articles II, III, IV, and V hereof and, in addition, subject to and in compliance with the following further terms and conditions:

1.  The option price of all Incentive Stock Options shall not be less than one hundred percent (100%) of the fair market value of the Company's Common Stock at the time the option is granted (notwithstanding any provision of Article V hereof to the contrary);

2.  No Incentive Stock Option shall be granted to any person who, at the time of the grant, owns stock possessing more than ten percent (10%) of the total combined voting power of the Company.  Such ownership limitation will be waived if (i) the option price is at least one hundred ten percent (110%) of the fair market value of the Company's Common Stock at the time the option is granted; and (ii) the option by its terms must not be exercisable more than five (5) years from the date it is granted; and,

3.  The aggregate fair market value of all shares of Common Stock (determined at the time of the grant of the option) exercisable for the first time by an employee during any calendar year shall not exceed $100,000.

3

ARTICLE VII

EXERCISE OF OPTIONS

Options granted hereunder may be exercised only by tendering to the Company written notice of exercise accompanied by the aggregate purchase price for the shares with respect to which the option is being exercised.  No option shall be exercisable unless the shares issuable on the exercise thereof have been registered under the Act, or the Company shall have first received the opinion of its counsel that registration under the Act is not required in connection with such issuance.  At the time of exercise, if the shares with respect to which the option is being exercised have not been registered under the Act, the Company may require the optionee to give the Company whatever written assurance counsel for the Company may require that the shares are being acquired for investment and not with a view to the distribution thereof, and that the shares will not be disposed of without the written opinion of such counsel that registration under the Act is not required.  Share certificates issued to the optionee upon exercise of the option shall bear a legend to the foregoing effect to the extent counsel for the Company deems it advisable.  The purchase price of shares of Common Stock of the Company acquired upon the exercise of any Non‐Qualified Stock Option or Incentive Stock Option granted under the Plan may be paid by an optionee by the payment of cash, or by the assignment to the Company of shares of the Company's Common Stock theretofore owned by the optionee having a value equal to such option price, or by any combination thereof.  For purposes of the Plan, shares of Common Stock shall be deemed to have a value equal to the average of the closing bid and asked price for a share for the trading day upon which such value is being determined.

ARTICLE VIII

ADJUSTMENTS

Subject to any required action by the Company's Directors and shareholders, the number of shares provided for in each outstanding option and the price per share thereof, and the number of shares provided for in the Plan, shall be proportionately adjusted for any increase of decrease in the number of issued shares of the Company Common Stock resulting from a subdivision or consolidation of shares or the payment of a stock dividend (but only on the Common Stock) or any other increase or decrease in the number of such shares effected without receipt of consideration by the Company.  Subject to any required action by the Company's Directors and shareholders, if the Company shall be the surviving corporation in any merger or consolidation, each outstanding option shall pertain to and apply to the securities to which a holder of the number of shares of the Company's Common Stock subject to the option would have been entitled.  In the event (hereinafter collectively referred to as an "Event of Sale or Liquidation") of:  (a) a dissolution or liquidation of the Company; (b) a merger or consolidation in which the Company is not the surviving corporation; (c) a sale of all or substantially all of the assets of the Company; or (d) a sale of all or substantially all of the outstanding Common Stock of the Company to one purchaser, then each outstanding option shall terminate, provided, however, that in such event, each optionee shall have the right immediately prior to any Event of Sale or Liquidation to exercise his option with respect to the full number of shares covered thereby, without regard to any installment provision contained in this Agreement.  In the event of a change in the Company's Common Stock which is limited to a change of all of its authorized shares with par value into the same number of shares with a different par value or without par value, the shares resulting from any such change shall be deemed

4

to be Common Stock within the meaning of the Plan.  The aforesaid adjustment shall be made by the Committee whose determination in that respect shall be final, binding and conclusive.  Except as hereinbefore expressly provided in this Article VIII, the optionee shall have no rights by reason of subdivision or consolidation of shares of stock of any class or payment of any stock dividend or any other  increase or decrease in the number of shares of any class or by reason of any Event of Sale or Liquidation, or spin‐off of assets or stock of another corporation; and any issue by the Company of shares of stock of any class, or securities convertible into shares of stock of any class, or securities convertible into shares of stock of any class, shall not affect and no adjustment by reason thereof shall be made with respect to the number or price of shares of the Company's Common Stock subject to any option.  The grant of an option pursuant to the Plan shall not affect in any way the right or power of the Company to make adjustments, reclassifications, reorganizations or changes of its capital or business structure or to merge or to consolidate or to dissolve or liquidate or sell or transfer all or any part of its business or assets.

ARTICLE IX

AMENDMENT OR DISCONTINUANCE

The Board may at any time amend, rescind or terminate the Plan, as it shall deem advisable, provided, however, that no change may be made in options theretofore granted under the Plan (without the consent of the optionees) which should impair the optionee's rights.  Provided, however, that no amendment to the Plan will be effective unless and until such amendment has been approved by the holders of a majority of the Company's outstanding voting stock (voting as a single class) present, or represented, and entitled to vote at a duly constituted meeting of such shareholders.

ARTICLE X

SHAREHOLDER APPROVAL

The Plan shall be effective (the "Effective Date") when it has received the approval of a majority of the Board of Directors.  However, the Plan and all options granted under the Plan shall be void if the Plan is not approved by the holders of a majority of the outstanding voting stock of the Company (voting as a single class) within twelve (12) months of the Effective Date.

5

AMAZING ENERGY OIL AND GAS CO., INC.

STOCK OPTION AGREEMENT

INCENTIVE STOCK OPTIONS

or

NON-QUALIFIED STOCK OPTION AGREEMENT

THIS AGREEMENT is made and entered into by and between Amazing Energy Oil and Gas Co., Inc. (the "Company") and _____________________________________________________ ("Optionee").

WHEREAS, the Company considers it desirable and in the Company's best interests that officers, employees and others who have supplied services to the Company be given an inducement to acquire a propriety interest in the Company and an added incentive to advance the interests of the Company by possessing an option to purchase stock of the Company in accordance with the Incentive Stock Option Plan (the "Plan") adopted by the Board of Directors (the "Board") of the Company on _____________________, 201___.

NOW THEREFORE, in consideration of the promises, it is agreed by and between the parties as follows:

1.  Grant of Option.  The Company hereby grants to ____________________________ the right, privilege, and option to purchase _____________________ shares of the Company's Common Stock at the purchase price of $__________ per share, in the manner and subject to the conditions hereinafter provided and Article VI of the "Stock Option Plan."

2.  Vesting Schedule.  The options will vest according to the following schedule:

____________ options upon execution of this Agreement

____________ options ______ months after the execution date

____________ options ______ months after the execution date

2.  Time of Exercise of Options.  The aforesaid option may, until the termination thereof as provided in Article V, paragraph 4, be exercised in any increments, subject to Article VI(1) of the "Stock Option Plan."  Provided that for this purpose any such previously granted option not having been exercised in full shall be deemed to remain outstanding until the expiration of the period during which under its initial term it could have been exercised.

3.  Method of Exercise.  The options shall be exercised by written notice (the "Notice") from Optionee to the Executive Committee (the "Committee") of the Board.  The Notice shall specify the number of shares of stock for which the option is being exercised and be accompanied by a cashier's check for payment in full of the option price for the number of shares specified. In the event the Company owes Optionee any sums of money, the amount owed Optionee may be offset against the exercise price of the option price.   The option shall be deemed exercised as of the time the Notice is actually received

6

by the Company.  The Company shall make immediate delivery of such shares in electronic or paper form to the Optionee or his designated brokerage firm, as directed in writing by the Optionee, provided that if any law or regulation required the Company to take any action with respect to the shares specified in such Notice before the issuance thereof, then the date of delivery of such shares shall be extended for the period necessary to take such action.

4.  Termination of Option.  Except as otherwise provided, the option to the extent not already exercised or expired by its own terms shall terminate upon the first to occur of the following dates:

(a)  Termination of the Optionee, unless designated by the Board that the options will remain effective for a specific period of time after termination, not to exceed the original expiration date.

(b)  Death of the Optionee.

(c)  Midnight _______________, 201___.

5.  Adjustments.  Subject to any required action by the Company's Directors and shareholders, the number of shares provided for in this option, and the price thereof, shall be adjusted proportionately upward or downward in accordance with the provisions of Article VIII of the Plan.

6.  Rights prior to Exercise of Option.  This option is nontransferable by the Optionee.  Optionee shall have no rights as a stockholder with respect to the option shares until payment of the option price and delivery to him of such shares as herein provided.

7.  Restriction of Disposition.  All shares acquired by Optionee pursuant to this Stock Option Agreement may be subject to restriction on sale, encumbrance and other dispositions pursuant to state or federal law.

8.  Notices.  The addresses to which all notices required to be given hereunder shall be sent are, if to the Company:

Amazing Energy Oil and Gas Co., Inc.

701 South Taylor Street

Suite 470, LB 113

Amarillo, Texas 79101

Tel:  (855) 448-1922

and if to Optionee:

___________________________

___________________________

___________________________

___________________________

Either party may change his address by giving written notice to the other party at the indicated address.  All notices given hereunder shall be deemed received when actually delivered to the indicated address.

7

9.  Stock Option Plan.  This Agreement is subject to and incorporated by reference to all the terms and conditions set forth in the Plan.  In the event of any conflict between the terms of this Agreement and the Plan, the terms and conditions of the Plan shall control.

10.  Binding Effect.  Optionee acknowledges receipt of a copy of the Plan.  This Agreement shall inure to the benefit of and be binding upon the parties hereto and their respective heirs, executors, administrators, successors and assigns.

IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be executed as of _____________________, 201____.

	 	
Amazing Energy Oil and Gas Co., Inc.

	 	 	 
	 	 	 
	 	 	 
	 	
BY:

	 
	 	 	
Jed Miesner

President, Principal Executive Officer and Director

8

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