Document:

Twelfth Amendment to Loan and Security Agreement, dated as of April 12, 2017

 Exhibit 10.4 

EXECUTION VERSION 

TWELFTH AMENDMENT TO 

LOAN AND SECURITY AGREEMENT 

THIS TWELFTH AMENDMENT TO LOAN AND SECURITY AGREEMENT, (this “Twelfth Amendment”) is made as of this 12th day of April, 2017 by and among REVOLUTION LIGHTING TECHNOLOGIES, INC., a Delaware corporation (“RLT”), LUMIFICIENT CORPORATION, a Minnesota corporation
(“Lumificient”), LIGHTING INTEGRATION TECHNOLOGIES, LLC, a Delaware limited liability company (“LIT”), SEESMART TECHNOLOGIES, LLC, a Delaware limited liability company (“Seesmart Tech”), RELUME
TECHNOLOGIES, INC., a Delaware corporation (“Relume”). TRI-STATE LED DE, LLC, a Delaware limited liability company (“Tri-State”), VALUE
LIGHTING, LLC, a Delaware limited liability company (“Value Lighting”), ALL AROUND LIGHTING, L.L.C., a Texas limited liability company (“All Around”). ENERGY SOURCE, LLC, a Rhode Island limited liability company
(“Energy Source”), REVOLUTION LIGHTING – E-LIGHTING, INC., a Delaware corporation
(“RLT-E-Lighting”), SEESMART, INC., a Delaware corporation (“Seesmart”), and TNT ENERGY, LLC, a Massachusetts limited liability company
(“TNT Energy”, and together with RLT, Lumificient, LIT, Seesmart Tech, Relume, Tri-State, Value Lighting, All Around, Energy Source, RLT-E-Lighting, and Seesmart, singly and collectively, jointly and severally, “Borrowers” and each a “Borrower”), the Guarantors party hereto (each a
“Guarantor” and collectively, jointly and severally, the “Guarantors”; and, together with the Borrowers, each an “Obligor” and collectively, jointly and severally, the “Obligors”),
and BANK OF AMERICA, N.A., a national banking association (“Lender”). 
 W I T N E S S E T H: 

WHEREAS, the Obligors and the Lender are parties to a certain Loan and Security Agreement, dated as of August 20, 2014 (as amended,
modified, supplemented or restated and in effect from time to time, collectively, the “Loan Agreement”). 
 WHEREAS, the
Obligors have requested that the Lender modify and amend certain terms and conditions of the Loan Agreement. 
 WHEREAS, the Lender is
willing to so modify and amend certain terms and conditions of the Loan Agreement, subject to the terms and conditions contained herein. 

NOW, THEREFORE, for good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the Obligors and the Lender
agree as follows: 
 1. Capitalized Terms. All capitalized terms used herein and not otherwise defined shall have the same meaning
herein as in the Loan Agreement. 

  
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 2. Amendments to Loan Agreement. The Loan Agreement is hereby amended as follows: 

 

	 	(a)	The definition of “Guarantors” as contained in Section 1.1 of the Loan Agreement (Definitions) is hereby deleted in its entirety and the following substituted in its stead: 

“Guarantors: Value Lighting Houston, Break One, RLT-ES and TNT Holdco, and each Borrower as
to each other Borrower, and each other Person that guarantees payment or performance of Obligations. Pledgor is also a non-recourse Guarantor to the extent set forth in Pledgor’s Guaranty dated as of the
Third Amendment Effective Date.” 
  

	 	(b)	The definition of “Pledged Cash Collateral” as contained in Section 1.1 of the Loan Agreement (Definitions) is hereby deleted in its entirety and the following substituted in its stead:

 “Pledged Cash Collateral: means all of Pledgor’s right, title and interest in and to the cash and other
assets more particularly described in the Cash Collateral Pledge Agreement and which shall be under the sole dominion and control of the Lender. As of the Twelfth Amendment Effective Date, the aggregate amount of Pledged Cash Collateral is
$10,000,000.” 
  

	 	(c)	The provisions of Section 1.1 of the Loan Agreement (Definitions) are hereby amended by inserting the following new definitions in their applicable alphabetical orders: 

“Twelfth Amendment: means that certain Twelfth Amendment to Loan and Security Agreement, dated as of April 12, 2017, by and
among the Obligors and the Lender.” 
 “Twelfth Amendment Effective Date: means April 12, 2017.” 

3. Ratification of Loan Documents. Except as specifically amended by this Twelfth Amendment, all of the terms and conditions of the
Loan Agreement and of each of the other Loan Documents shall remain in full force and effect. The Obligors hereby ratify, confirm, and reaffirm all of the representations, warranties and covenants contained therein. Further, the Obligors warrant and
represent that no Event of Default exists, and nothing contained herein shall be deemed to constitute a waiver by the Lender of any Event of Default which may nonetheless exist as of the date hereof. 

4. Breach. Without limiting the provisions of the Loan Documents, a breach of any agreement, covenant, warranty, representation or
certification of the Obligors under this Twelfth Amendment and/or the failure of the Obligors to perform its obligations under this Twelfth Amendment shall constitute an Event of Default under the Loan Agreement. 

5. Waiver. Each Obligor acknowledges, confirms and agrees that it has no claims, counterclaims, offsets, defenses or causes of action
against the Lender with respect to amounts outstanding under the Loan Agreement or otherwise. To the extent such claims, counterclaims, offsets, defenses and/or causes of actions should exist, whether known or unknown, at law or in equity, each
Obligor hereby WAIVES same and RELEASES the Lender from any and all liability in connection therewith. 

  
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 6. Conditions Precedent to Effectiveness. This Twelfth Amendment shall not be effective
until each of the following conditions precedent has been fulfilled to the sole satisfaction of the Lender: 
  

	 	(a)	This Twelfth Amendment shall have been duly executed and delivered by the respective parties hereto, and shall be in full force and effect and shall be in form and substance satisfactory to the Lender.

  

	 	(b)	All action on the part of the Obligors necessary for the valid execution, delivery and performance by the Obligors of this Twelfth Amendment and all other documentation, instruments, and agreements to be executed in
connection herewith shall have been duly and effectively taken and evidence thereof satisfactory to the Lender shall have been provided to the Lender. 

  

	 	(c)	The Lender shall have received an Omnibus Officer’s and Member’s Certificate of duly authorized officers and members, as applicable, of each of the Obligors certifying (i) that the attached copies of such
Obligor’s Organic Documents are true and complete, and in full force and effect, without amendment except as shown; (ii) that an attached copy of resolutions authorizing execution and delivery of the Twelfth Amendment and all documents
referenced therein and related thereto are true and complete, and that such resolutions are in full force and effect, were duly adopted, have not been amended, modified or revoked, and constitute all resolutions adopted with respect to this credit
facility; and (iii) to the title, name and signature of each Person authorized to sign such documents. 

  

	 	(d)	The Pledgor shall have increased the amount of Pledged Cash Collateral deposited under the Cash Collateral Pledge Agreement by an additional $3,000,000, resulting in an aggregate balance of Pledged Cash Collateral of
$10,000,000. 

  

	 	(e)	The Lender shall have received a fully-executed copy of that certain Ratification and Third Amendment to Pledge and Security Agreement made by the Pledgor in favor of the Lender, in form and substance satisfactory to
the Lender. 

  

	 	(f)	The Obligors shall have executed and delivered to the Lender such additional documents, instruments, and agreements as the Lender may reasonably request. 

 

	 	(g)	In accordance with the terms and conditions of Loan Agreement, the Obligors shall pay to Lender (i) all costs and expenses of the Lender, including, without limitation, reasonable attorneys’ fees, in
connection with the preparation, negotiation, execution and delivery of this Twelfth Amendment and all documents related thereto and/or associated therewith through and including April 12, 2017 in the amount of $8,333.24, and (ii) the
outstanding attorneys’ fees due prior to the Twelfth Amendment Effective Date in the amount of $13,908.30. 

  
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	7.	Miscellaneous. 

  

	(a)	This Twelfth Amendment may be executed in several counterparts and by each party on a separate counterpart, each of which when so executed and delivered shall be an original, and all of which together shall constitute
one instrument. Delivery of an executed signature page of this Twelfth Amendment (or any notice or agreement delivered pursuant to the terms hereof) by facsimile transmission or electronic transmission shall be as effective as delivery of a manually
executed counterpart hereof; provided that the Obligors shall deliver originals of all applicable documents referenced in this Twelfth Amendment by no later than three (3) Business Days after the Twelfth Amendment Effective Date.

  

	(b)	This Twelfth Amendment expresses the entire understanding of the parties with respect to the transactions contemplated hereby. No prior negotiations or discussions shall limit, modify, or otherwise affect the provisions
hereof. 

  

	(c)	Any determination that any provision of this Twelfth Amendment or any application hereof is invalid, illegal or unenforceable in any respect and in any instance shall not affect the validity, legality, or enforceability
of such provision in any other instance, or the validity, legality or enforceability of any other provisions of this Twelfth Amendment. 

  

	(d)	THE VALIDITY, INTERPRETATION AND ENFORCEMENT OF THIS TWELFTH AMENDMENT AND ANY DISPUTE ARISING OUT OF THE RELATIONSHIP BETWEEN THE PARTIES HERETO, WHETHER IN CONTRACT, TORT, EQUITY OR OTHERWISE, SHALL BE GOVERNED BY THE
INTERNAL LAWS OF THE STATE OF NEW YORK (WITHOUT GIVING EFFECT TO PRINCIPLES OF CONFLICTS OF LAW). 

[SIGNATURE PAGE FOLLOWS] 

  
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 IN WITNESS WHEREOF, the parties have executed this Twelfth Amendment as a sealed instrument by
their respective duly authorized officers. 
  

			
	LENDER:
	
	BANK OF AMERICA, N.A.
		
	By:	 	 

	Name:	 	CYNTHIA G. STANNARD
	Title:	 	SR. VICE PRESIDENT

 [Signatures Continue on Next Page] 

  
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	 BORROWERS:

	
	REVOLUTION LIGHTING TECHNOLOGIES, INC.
		
	 By:
	 	 

	 Name:
	 	 James A. DePalma

	 Title:
	 	 Chief Financial Officer

	
	LUMIFICIENT CORPORATION
		
	 By:
	 	 

	 Name:
	 	 James A. DePalma

	 Title:
	 	 President, Secretary and Treasurer

	
	LIGHTING INTEGRATION TECHNOLOGIES, LLC
		
	 By:
	 	 

	 Name:
	 	 James A. DePalma

	 Title:
	 	 President

	
	SEESMART TECHNOLOGIES, LLC
		
	 By:
	 	 

	 Name:
	 	 James A. DePalma

	 Title:
	 	 President

  

			
	RELUME TECHNOLOGIES, INC.
		
	 By:
	 	 

	 Name:
	 	 James A. DePalma

	 Title:
	 	 President, Secretary and Treasurer

 [Signatures Continue on Next Page] 

[Signature Page to Twelfth Amendment to Loan and Security Agreement] 

 
			
	 TRI-STATE LED DE, LLC

		
	 By:
	 	 

	 Name:
	 	 James A. DePalma

	 Title:
	 	 President

	
	 VALUE LIGHTING, LLC

		
	 By:
	 	 

	 Name:
	 	 James A. DePalma

	 Title:
	 	 President

	
	 ALL AROUND LIGHTING, L.L.C.

		
	 By:
	 	 

	 Name:
	 	 James A. DePalma

	 Title:
	 	 President

	
	 ENERGY SOURCE, LLC

		
	 By:
	 	 

	 Name:
	 	 James A. DePalma

	 Title:
	 	 Secretary and Treasurer

	
	REVOLUTION LIGHTING – E-LIGHTING, INC.
	 By:
	 	 

	 Name:
	 	 James A. DePalma

	 Title:
	 	 President, Treasurer and Secretary

 [Signatures Continue on Next Page] 

[Signature Page to Twelfth Amendment to Loan and Security Agreement] 

 
			
	 SEESMART, INC.

		
	 By:
	 	 

	 Name:
	 	 James A. DePalma

	 Title:
	 	 President and Secretary

	
	 TNT ENERGY, LLC

		
	 By:
	 	 

	 Name:
	 	 James A. DePalma

	 Title:
	 	 Manager

 [Signatures Continue on Next Page] 

[Signature Page to Twelfth Amendment to Loan and Security Agreement] 

 
			
	 GUARANTORS:

	
	 VALUE LIGHTING OF HOUSTON, LLC

		
	 By:
	 	 

	 Name:
	 	 James A. DePalma

	 Title:
	 	 President:

	
	 BREAK ONE NINE, INC.

		
	 By:
	 	 

	 Name:
	 	 James A. DePalma

	 Title:
	 	 President

	
	REVOLUTION LIGHTING TECHNOLOGIES – ENERGY SOURCE, INC.
		
	 By:
	 	 

	 Name:
	 	 James A. DePalma

	 Title:
	 	 Secretary and Treasurer

	
	REVOLUTION LIGHTING TECHNOLOGIES – TNT ENERGY, LLC
		
	 By:
	 	 

	 Name:
	 	 James A. DePalma

	 Title:
	 	 Manager

 [Signature Page to Twelfth Amendment to Loan and Security Agreement]Exhibit

Exhibit 10.1

AMENDMENT TO THE AMENDED AND RESTATED EMPLOYMENT AGREEMENT

This Amendment (“Amendment”), effective as of April 28, 2017 (the “Effective Date”), by and between Acceleron Pharma Inc., a Delaware corporation (“Acceleron”), and Steven D. Ertel (the “Executive”), amends that certain Amended and Restated Employment Letter between Executive and Acceleron, dated as of January 31, 2014, as amended (the “Agreement”).  Together Acceleron and Executive are the “Parties” and each is a “Party”.  All capitalized terms used in this Amendment but not defined shall have the meanings ascribed to them in the Agreement.

WHEREAS, in accordance with Section 12 of the Agreement, the Parties desire to amend the Agreement.

NOW, THEREFORE, in consideration of the foregoing and other good and valuable consideration, the receipt of which is hereby acknowledged, the Parties agree to amend the Agreement as follows:

1.As of the Effective Date, the Executive shall cease to be the Company’s Chief Operating Officer and shall become the Company’s Special Advisor to the Chief Executive Officer. The reference in the Agreement to “Chief Business Officer” shall be deleted and replaced with “Special Advisor to the Chief Executive Officer” in each place it appears. 

2.Section 2(b) of the Agreement is hereby amended and restated in its entirety with the following:

“Bonus Compensation.  For services during 2017, the Company shall pay you a one-time bonus equal to 50% of your target bonus, or 20% of your annual base salary. This one-time bonus shall be payable within 30 days of April 28, 2017.”

3.The reference in Section 4(e) of the Agreement to “120 days” shall be deleted and replaced with “95 days or the day after you qualify for Long Term Disability benefits, whichever is later”.

4.Section 5(a)(ii) of the Agreement is hereby amended and restated in its entirety with the following:

“(ii) in the event of your termination of employment as a result of your death or a termination of your employment by the Company due to your disability at any time pursuant to Section 4(e) of this Agreement, then (A) 100% of any then unvested and outstanding equity and equity-based awards that you hold at the time of such termination of employment, including, but not limited to, stock options and restricted stock units, if any, shall fully vest as of the date of termination (notwithstanding any contrary provision in any agreement evidencing such equity or equity-based awards); (B) all outstanding stock options held by you at the time of your termination of employment, including those that vested pursuant to Section 5(a)(ii)(A) hereof, shall remain exercisable for the lesser of (x) a period of three (3) years from the date of your termination, or (y) the original expiration date of such stock options; (C) in the event your employment is terminated by the Company due to your disability, to the extent the Company’s benefits do not include disability insurance benefits that will continue your base salary of $448,050.00 at 100% of the amount of such base salary, for the period of one year from the date of termination, for such period the Company shall pay to you, at the time that your base salary would otherwise have been paid, an amount equal to the amount by which 100% of your base salary exceeds the disability insurance benefits, if any, actually paid to you; and (D) in the event your employment is terminated by the Company due to your disability, if you are participating in the Company’s group health plan and/or dental plan at the time your employment terminates and you exercise your right to continue participation in those plans under COBRA, the Company will pay or, at its option, reimburse you, on a monthly basis, for the full monthly premium cost of that participation for the 12 months following the date on which your employment with the Company terminates.”

5.As of the Effective Date, the Parties hereby agree that the Executive will no longer be entitled to an annual bonus pursuant to Section 2(b) of the Agreement, other than as provided in Section 2 of this Amendment. 

6.The Parties hereby agree that the terms of this Amendment, including the change to the Executive’s title and corresponding duties to Special Advisor to the Chief Executive Officer, shall not constitute “Good Reason” for termination under Section 4(c) of the Agreement.

7.Except as expressly amended herein, the Agreement will continue in full force and effect in accordance with its terms. This Amendment embodies the entire agreement between the parties with respect to the subject matter hereof and supersedes all prior communications, agreements and understandings, whether written or oral, with respect to the same. This Amendment may be executed in one or more counterparts, each of which shall be deemed to be an original, but all of which taken together shall constitute one and the same instrument. This is a Massachusetts contract and shall be governed and construed in accordance with the laws of the Commonwealth of Massachusetts, without regard to the conflict-of-laws principles thereof.

[Signature Page Follows]

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IN WITNESS WHEREOF, the Parties hereto by their duly authorized representatives have executed this Amendment effective as of the date first above written.

ACCELERON PHARMA INC.

By:    /s/ Habib J. Dable            
Habib J. Dable
Chief Executive Officer and President

ACCEPTED AND AGREED:

Signature:     /s/ Steven D. Ertel        
Steven D. Ertel

Date:        April 28, 2017            

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