Document:

EX-10.7

 Exhibit 10.7 

OFFICE LEASE 
 This
Office Lease (this “Lease”), dated as of the date set forth in Section 1.1, is made by and between BRE MARKET STREET PROPERTY OWNER LLC, a Delaware limited liability (“Landlord”),
and MEDALLIA, INC., a Delaware corporation (“Tenant”). The following exhibits are incorporated herein and made a part hereof: Exhibit A (Outline of Premises);
Exhibit B (Work Letter); Exhibit C (Form of Confirmation Letter); Exhibit D (Rules and Regulations);
Exhibit E (Judicial Reference); Exhibit F (Additional Provisions); Exhibit G (Asbestos Notification);
Exhibit H (Form of Letter of Credit); and Exhibit I (Initial Tenant Work). 

1 BASIC LEASE INFORMATION. 
  

			
	 1.1 Date:
	  	3/21/2019
		
	 1.2 Premises.
	  	
		
	 1.2.1 “Building”:
	  	575 Market Street, San Francisco, California 94105, commonly known as Market Center.
		
	 1.2.2 “Premises”:
	  	Subject to Section 2.1.1, 8,138 rentable square feet of space located on the eighteenth (18th) floor of the Building, comprised of 7,285 rentable square
feet and commonly known as Suite 1850 (“Suite 1850”), and (ii) 853 rentable square feet commonly known as Suite 1875 (“Suite 1875”), the outline and location of which is set forth in
Exhibit A.
		
	 1.2.3 “Property”:
	  	The Building, the parcel(s) of land upon which it is located, and, at Landlord’s discretion, any parking facilities and other improvements serving the Building and the parcel(s) of land upon which such parking facilities and
other improvements are located.
		
	 1.2.4 “Project”:
	  	The Property or, at Landlord’s discretion, any project containing the Property and any other land, buildings or other improvements.
		
	 1.3 Term
	  	
		
	 1.3.1 Term:
	  	The term of this Lease (the “Term”) shall begin on the Commencement Date and expire on the Expiration Date (or any earlier date on which this Lease is terminated as provided
herein).

  
 1 

			
		
	 1.3.2 “Commencement Date”:
	  	The later of (a) April 1, 2019 (the “Target Commencement Date”) and (b) the date on which Landlord delivers the Premises to Tenant with the Tenant Improvement Work (defined in
Exhibit B) Substantially Complete (defined in Exhibit B).
		
	 1.3.3 “Expiration Date”:
	  	The last day of the eighty-fifth (85th) full calendar month beginning on or after the Commencement Date.

  
 2 

 1.4 “Base Rent”: 

Suite 1850: 
  

													
	 Period During
 Term
	  	Annual Base Rent
Per Rentable Square
Foot (rounded to the
nearest 100th of a
dollar)	 	  	Monthly Base
Rent Per Rentable
Square Foot
(rounded to the
nearest 100th of a
dollar)	 	  	 Monthly

Installment

of Base Rent
	 
	 Commencement Date through last day of 12th
full calendar month of Term
	  	$	84.00	 	  	$	7.00	 	  	$	50,995.00	 
	 13th through 24th full calendar months of Term
	  	$	86.52	 	  	$	7.21	 	  	$	52,524.85	 
	 25th through 36th full calendar months of Term
	  	$	89.12	 	  	$	7.43	 	  	$	54,100.60	 
	 37th through 48th full calendar months of Term
	  	$	91.79	 	  	$	7.65	 	  	$	55,723.61	 
	 49th through 60th full calendar months of Term
	  	$	94.54	 	  	$	7.88	 	  	$	57,395.32	 
	 61st through 72nd full calendar months of Term
	  	$	97.38	 	  	$	8.12	 	  	$	59,117.18	 
	 73rd through 84th full calendar months of Term
	  	$	100.30	 	  	$	8.36	 	  	$	60,890.70	 
	 85th full calendar month of Term
	  	$	103.31	 	  	$	8.61	 	  	$	62,717.42	 

 Notwithstanding the foregoing, Base Rent for Suite 1850 shall be abated, in the amount of $50,995.00 for the
first full calendar month of the Term; provided, however, that (a) if a Default (defined in Section 19.1) exists when any such abatement would otherwise apply, such abatement shall be deferred until the date, if any,
on which such Default is cured; and (b) Landlord, at its option, may cancel all or any portion of any such abatement of Base Rent for Suite 1850 that has not yet been applied, by notifying Tenant of such cancellation and paying Tenant the
amount of such unapplied abatement, in which event the parties, at Landlord’s option, shall execute a commercially reasonable amendment to this Lease prepared by Landlord memorializing such cancelation. 

[REMAINDER OF PAGE INTENTIONALLY LEFT BLANK] 

  
 3 

 Suite 1875: 

 

													
	 Period During
 Term
	  	Annual Base Rent
Per Rentable
Square Foot
(rounded to the
nearest 100th of a
dollar)	 	  	Monthly Base
Rent Per Rentable
Square Foot
(rounded to the
nearest 100th of a
dollar)	 	  	 Monthly

Installment

of Base Rent
	 
	 Commencement Date through last day of 12th
full calendar month of Term
	  	$	84.00	 	  	$	7.00	 	  	$	5,971.00	 
	 13th through 24th full calendar months of Term
	  	$	86.52	 	  	$	7.21	 	  	$	6,150.13	 
	 25th through 36th full calendar months of Term
	  	$	89.12	 	  	$	7.43	 	  	$	6,334.63	 
	 37th through 48th full calendar months of Term
	  	$	91.79	 	  	$	7.65	 	  	$	6,524.67	 
	 49th through 60th full calendar months of Term
	  	$	94.54	 	  	$	7.88	 	  	$	6,720.41	 
	 61st through 72nd full calendar months of Term
	  	$	97.38	 	  	$	8.12	 	  	$	6,922.03	 
	 73rd through 84th full calendar months of Term
	  	$	100.30	 	  	$	8.36	 	  	$	7,129.69	 
	 85th full calendar month of Term
	  	$	103.31	 	  	$	8.61	 	  	$	7,343.58	 

 Notwithstanding the foregoing, Base Rent for Suite 1875 shall be abated, in the amount of $5,971.00 per month
for the first 3 full calendar months of the Term; provided, however, that (a) if a Default (defined in Section 19.1) exists when any such abatement would otherwise apply, such abatement shall be deferred until the
date, if any, on which such Default is cured; and (b) Landlord, at its option, may cancel all or any portion of any such abatement of Base Rent for Suite 1875 that has not yet been applied, by notifying Tenant of such cancellation and paying
Tenant the amount of such unapplied abatement, in which event the parties, at Landlord’s option, shall execute a commercially reasonable amendment to this Lease prepared by Landlord memorializing such cancelation. 

  
 4 

			
	 1.5 “Base Year” for Expenses:
	  	Calendar year 2019.
		
	 “Base Year” for Taxes:
	  	Calendar year 2019.
		
	 1.6 “Tenant’s Share”:
	  	 For Suite 1850: 1.5416% (based upon a total of 472,564 rentable square feet in the Building), subject to Section 2.1.1.

 
 For Suite 1875: 0.1805% (based upon a total of 472,564 rentable square feet in the
Building), subject to Section 2.1.1.

		
	 1.7 “Permitted Use”:
	  	General office use consistent with a first-class office building.
		
	 1.8. “Security Deposit”:
	  	None.
		
	 Prepaid Base Rent:
	  	$56,966.00, as more particularly described in Section 3.
		
	 1.9 Parking:
	  	None.
		
	 1.10 Address of Tenant:
	  	 Before the Commencement Date:
  

450 Concar Drive
 San Mateo, CA 94402

Attention: General Counsel
  

From and after the Commencement Date:
 The Premises

Attention: General Counsel

  
 5 

			
		
	 1.11 Address of Landlord:
	  	 BRE Market Street Property Owner LLC 

c/o Equity Office
 19191 South Vermont Avenue, Suite 100

Torrance, CA 90502
 Attn: Regional Finance Group – MLA

 
 with copies to:

 
 Equity Office

575 Market Street, Suite 2650
 San Francisco, CA
94105
 Attn: Property Manager
  

and
  

Equity Office
 3100 Bristol St., Suite 200

Costa Mesa, CA 92626
 Attn: Managing Counsel

 
 and
  

Equity Office
 222 S. Riverside Plaza, Suite 2000

Chicago, IL 60606 – 6115
 Attn: Lease
Administration

		
	 1.12 Broker(s):
	  	JLL (“Tenant’s Broker”), representing Tenant, and CBRE, Inc. (“Landlord’s Broker”), representing Landlord.
		
	 1.13 Building HVAC Hours and

Holidays:
	  	“Building HVAC Hours” means 8:00 a.m. to 6:00 p.m., Monday through Friday, excluding the day of observation of New Year’s Day, Presidents Day, Memorial Day, Independence Day, Labor Day, Thanksgiving
Day, Christmas Day, and, at Landlord’s discretion, any other locally or nationally recognized holiday that is observed by other Comparable Buildings (defined in Section 25.10) (collectively, “Holidays”).
		
	 1.14 “Transfer Radius”:
	  	None.
		
	 1.15 “Tenant Improvements”:
	  	Defined in Exhibit B, if any.
		
	 1.16 “Guarantor”:
	  	As of the date hereof, there is no Guarantor.
		
	 1.17 “Letter of Credit”:
	  	$330,000.00, as more particularly described in Section 5 of Exhibit F

  
 6 

 2 PREMISES AND COMMON AREAS. 

2.1 The Premises. 

2.1.1 Subject to the terms hereof, Landlord hereby leases the Premises to Tenant and Tenant hereby leases the Premises from Landlord. Landlord
and Tenant acknowledge that the rentable square footage of the Premises is as set forth in Section 1.2.2 and the rentable square footage of the Building is as set forth in Section 1.6. At any time
Landlord may deliver to Tenant a notice substantially in the form of Exhibit C, as a confirmation of the information set forth therein. Tenant shall execute and return (or, by notice to Landlord,
reasonably object to) such notice within five (5) days after receiving it, and if Tenant fails to do so, Tenant shall be deemed to have executed and returned it without exception. Landlord shall deliver the Premises to Tenant in broom clean
condition, with the floors cleared of trash and swept. Notwithstanding anything herein or on Exhibit B to the contrary, Landlord and Tenant hereby acknowledge and agree that the Tenant Improvement Work is Substantially Complete, subject only to
receipt by Landlord of all approvals and permits, with respect to the Tenant Improvement Work, from the appropriate governmental authorities necessary for the occupancy of the Premises for the Permitted Use. Following the mutual execution and
delivery of this Lease, Landlord shall promptly perform the following punch list items with respect to the Tenant Improvement Work: (a) install under cabinet lighting, (b) install 6” wall base at reception area, (c) fix light
switch at second entry, (d) replace scratched glass at the large conference room by the reception area, and (e) install cord on garbage disposal area. Nothing in this Section 2.1.2 shall limit Landlord’s obligations under
Section 7.1. 
 2.1.2 Except as expressly provided herein (including Exhibit B), the Premises are accepted by Tenant in their
configuration and condition existing on the date hereof (or in such other configuration and condition as any existing tenant of the Premises may cause to exist in accordance with its lease), without any obligation of Landlord to perform or pay for
any alterations to the Premises, and without any representation or warranty regarding the configuration or condition of the Premises, the Building or the Project or their suitability for Tenant’s business. 

2.1.3 Landlord represents and warrants to Tenant that, as of the date hereof, Landlord has not received written notice from any governmental
agency (and Landlord does not otherwise have actual knowledge, without any duty of inquiry) that the existing configuration or condition of the Premises violates applicable Law (defined in Section 5). 

2.2 Common Areas. Tenant may use, in common with Landlord and other parties and subject to the Rules and Regulations
(defined in Exhibit D), any portions of the Property that are designated from time to time by Landlord for such use (the “Common Areas”). 

3 RENT. Tenant shall pay all Base Rent and Additional Rent (defined below) (collectively, “Rent”) to Landlord or Landlord’s
agent, without prior notice or demand or any setoff or deduction, at the place Landlord may designate from time to time, in money of the United States of America that, at the time of payment, is legal tender for the payment of all obligations. As
used herein, “Additional Rent” means all amounts, other than Base Rent, that Tenant is required to pay Landlord hereunder. Monthly payments of Base Rent and monthly payments of Additional Rent for Expenses (defined in
Section 4.2.2), Taxes (defined in Section 4.2.3) and parking (if any) (collectively, “Monthly Rent”) shall be paid in advance on or before the first day of each calendar month
during the Term; provided, however, that the installment of Base Rent for the first full calendar month for which Base Rent is payable hereunder shall be paid upon Tenant’s execution and delivery hereof. Except as otherwise provided herein, all
other items of Additional Rent shall be paid within 30 days after Landlord’s request for payment. Rent for any partial calendar month shall be prorated based on the actual number of days in such month. Without limiting Landlord’s
other rights or remedies, (a) if any installment of Rent is not received by Landlord or its designee within five (5) business days after its due date, Tenant shall pay Landlord a late charge equal to

  
 7 

 
5% of the overdue amount; and (b) any Rent that is not paid within 10 days after its due date shall bear interest, from its due date until paid, at the lesser of 10% per annum or
the highest rate permitted by Law; provided, however, that such late charge shall not apply to any such delinquency unless either (i) such delinquency is not cured within five (5) business days after notice from Landlord, or
(ii) Tenant previously received notice from Landlord of a delinquency that occurred earlier in the Term). Tenant’s covenant to pay Rent is independent of every other covenant herein. 

4 EXPENSES AND TAXES. 
 4.1 General
Terms. In addition to Base Rent, Tenant shall pay, in accordance with Section 4.4, for each Expense Year (defined in Section 4.2.1), an amount equal to the sum of
(a) Tenant’s Share of any amount (the “Expense Excess”) by which Expenses for such Expense Year exceed Expenses for the Base Year, plus (b) Tenant’s Share of any amount (the “Tax Excess”) by
which Taxes for such Expense Year exceed Taxes for the Base Year. No decrease in Expenses or Taxes for any Expense Year below the corresponding amount for the Base Year shall entitle Tenant to any decrease in Base Rent or any credit against amounts
due hereunder. Tenant’s Share of the Expense Excess and Tenant’s Share of the Tax Excess for any partial Expense Year shall be prorated based on the number of days in such Expense Year. 

4.2 Definitions. As used herein, the following terms have the following meanings: 

4.2.1 “Expense Year” means each calendar year (other than the Base Year and any preceding calendar year) in which any portion
of the Term occurs. 
 4.2.2 “Expenses” means all expenses, costs and amounts that Landlord pays or accrues during the Base
Year or any Expense Year because of or in connection with the ownership, management, maintenance, security, repair, replacement, restoration or operation of the Property. Landlord shall act in a reasonable manner in incurring Expenses. Expenses
shall include (i) the cost of supplying all utilities, the cost of operating, repairing, maintaining and renovating the utility, telephone, mechanical, sanitary, storm-drainage, and elevator systems, and the cost of maintenance and service
contracts in connection therewith; (ii) the cost of licenses, certificates, permits and inspections, the cost of contesting any Laws that may affect Expenses, and the costs of complying with any governmentally-mandated transportation-management
or similar program; (iii) the cost of all insurance premiums and deductibles (provided, however, that earthquake insurance deductibles shall not exceed 5% of the total insurable value of the Project per occurrence and any other insurance
deductibles shall not exceed $100,000.00 per occurrence); (iv) the cost of landscaping and relamping; (v) the cost of parking-area operation, repair, restoration, and maintenance; (vi) a management fee in the amount (which is hereby
acknowledged to be reasonable) of 3% of gross annual receipts from the Building (excluding the management fee), together with other fees and costs, including consulting fees, legal fees and accounting fees, of all contractors and consultants in
connection with the management, operation, maintenance and repair of the Property; (vii) the fair rental value of any management office space; (viii) wages, salaries and other compensation, expenses and benefits, including taxes levied
thereon, of all persons engaged in the operation, maintenance and security of the Property, and costs of training, uniforms, and employee enrichment for such persons; (ix) the costs of operation, repair, maintenance and replacement of all
systems and equipment (and components thereof) of the Property; (x) the cost of janitorial, alarm, security and other services, replacement of wall and floor coverings, ceiling tiles and fixtures in Common Areas, maintenance and replacement of
curbs and walkways, repair to roofs and re-roofing; (xi) rental or acquisition costs of supplies, tools, equipment, materials and personal property used in the maintenance, operation and repair of the
Property; (xii) the cost of capital improvements or any other items that are (A) intended to reduce current or future Expenses, enhance the safety or security of the Property or its occupants, or enhance the environmental sustainability of
the Property’s operations, (B) replacements or modifications of the nonstructural portions of the Base Building (defined in Section 5) or Common Areas that are required to keep the Base Building or Common Areas in
good condition, or (C) required under any Law; (xiii) the cost of tenant-relation programs reasonably established by Landlord; and (xiv) payments under any existing or future reciprocal easement agreement, transportation management
agreement, cost-sharing agreement or other covenant, condition, restriction or similar instrument affecting the Property. 

  
 8 

 Notwithstanding the foregoing, Expenses shall not include (a) capital expenditures not
described in clauses (xi) or (xii) above (in addition, any capital expenditure shall be included in Expenses only if paid or accrued after the Base Year and shall be amortized (including actual or imputed interest on the amortized cost)
over such period of time as Landlord shall reasonably determine); (b) depreciation; (c) principal payments of mortgage or other non-operating debts of Landlord; (d) costs of repairs to the
extent Landlord is reimbursed by insurance or condemnation proceeds; (e) except as provided in clause (xiii) above, costs of leasing space in the Building, including brokerage commissions, lease concessions, rental abatements and
construction allowances granted to specific tenants; (f) costs of selling, financing or refinancing the Building; (g) fines, penalties or interest resulting from late payment of Taxes or Expenses; (h) organizational expenses of
creating or operating the entity that constitutes Landlord; (i) damages paid to Tenant hereunder or to other tenants of the Building under their respective leases; (j) reserves; (k) costs of cleaning up Hazardous Materials, except for
routine cleanup performed as part of the ordinary operation and maintenance of the Property (as used herein, “Hazardous Materials” means any material now or hereafter defined or regulated by any Law or governmental authority as
radioactive, toxic, hazardous, or waste, including (1) petroleum and any of its constituents or byproducts, (2) radioactive materials, (3) asbestos in any form or condition, and (4) materials regulated by any of the following, as
amended from time to time, and any rules promulgated thereunder: the Comprehensive Environmental Response, Compensation and Liability Act of 1980, 42 U.S.C. §§9601 et seq.; the Resource Conservation and Recovery Act, 42 U.S.C.
§§6901, et seq.; the Toxic Substances Control Act, 15 U.S.C. §§2601, et seq.; the Clean Water Act, 33 U.S.C. §§1251 et seq.; or the Clean Air Act, 42 U.S.C. §§7401 et seq.); and (l) any management fee
exceeding the amount described in clause (vi) above (it being agreed that, as used herein, “management fee” does not include any costs – such as salaries, hourly labor costs, and telephone bills – that would customarily be
reimbursed to the manager under a third-party management agreement). 
 If, during any portion of the Base Year or any Expense Year, the
Building is not 100% occupied (or a service provided by Landlord to Tenant is not provided by Landlord to a tenant that provides such service itself, or any tenant of the Building is entitled to free rent, rent abatement or the like), Expenses for
such year shall be determined as if the Building had been 100% occupied (and all services provided by Landlord to Tenant had been provided by Landlord to all tenants, and no tenant of the Building had been entitled to free rent, rent abatement or
the like) during such portion of such year. Notwithstanding any contrary provision hereof, Expenses for the Base Year shall exclude (a) any market-wide cost increases resulting from extraordinary circumstances, including Force Majeure (defined
in Section 25.2), boycotts, strikes, conservation surcharges, embargoes or shortages, and (b) at Landlord’s option, the cost of any repair or replacement that Landlord reasonably expects will not recur on an
annual or more frequent basis; provided, however, that if (i) any amounts of a given type (as determined in good faith by Landlord) that would otherwise be included in Expenses for the Base Year are excluded from such Expenses pursuant to the
preceding clause (a) or (b) (collectively, an “Excluded Base Year Amount”), and (ii) any amounts of the same type (as determined in good faith by Landlord) are incurred in, and would otherwise be included in Expenses for,
any Expense Year, then such amounts incurred in such Expense Year shall be included in Expenses for such Expense Year only to the extent, if any, that they collectively exceed such Excluded Base Year Amount. 

4.2.3 “Taxes” means all federal, state, county or local governmental or municipal taxes, fees, charges, assessments, levies,
licenses or other impositions, whether general, special, ordinary or extraordinary, that are paid or accrued during the Base Year or any Expense Year (without regard to any different fiscal year used by such governmental or municipal authority)
because of or in connection with 

  
 9 

 
the ownership, leasing or operation of the Property. Taxes shall include (a) real estate taxes; (b) general and special assessments; (c) transit taxes; (d) leasehold taxes;
(e) personal property taxes imposed upon the fixtures, machinery, equipment, apparatus, systems, appurtenances, furniture and other personal property used in connection with the Property; (f) any tax on the rent, right to rent or other
income from any portion of the Property or as against the business of leasing any portion of the Property; (g) any assessment, tax, fee, levy or charge imposed by any governmental agency, or by any
non-governmental entity pursuant to any private cost-sharing agreement, in order to fund the provision or enhancement of any fire-protection, street-, sidewalk- or road-maintenance, refuse-removal or other
service that is (or, before the enactment of Proposition 13, was) normally provided by governmental agencies to property owners or occupants without charge (other than through real property taxes); and (h) payments in lieu of taxes under
any tax increment financing agreement, abatement agreement, agreement to construct improvements, or other agreement with any governmental body or agency or taxing authority. Any costs and expenses (including reasonable attorneys’ and
consultants’ fees) incurred in attempting to protest, reduce or minimize Taxes shall be included in Taxes for the year in which they are incurred. Notwithstanding any contrary provision hereof, Taxes shall be determined without regard to any
“green building” credit and shall exclude (i) all excess profits taxes, franchise taxes, gift taxes, capital stock taxes, inheritance and succession taxes, transfer taxes, estate taxes, federal and state income taxes, and other taxes
to the extent (x) applicable to Landlord’s general or net income (as opposed to rents, receipts or income attributable to operations at the Property), or (y) measured solely by the square footage, rent, fees, services, tenant
allowances or similar amounts, rights or obligations described or provided in or under any particular lease, license or similar agreement or transaction at the Building; (ii) any Expenses, and (iii) any items required to be paid or
reimbursed by Tenant under Section 4.5. If any assessment (other than real property taxes) included in Taxes can be paid by Landlord in installments, such assessment shall be paid (or, at Landlord’s option, shall be
included in Taxes on an amortized basis as if it were paid) in the maximum number of installments permitted by Law. 
 4.3
Allocation. Landlord, in its reasonable discretion, may equitably allocate Expenses among office, retail or other portions or occupants of the Property. If Landlord incurs Expenses or Taxes for the Property together with another
property, Landlord, in its reasonable discretion, shall equitably allocate such shared amounts between the Property and such other property. 

4.4 Calculation and Payment of Expense Excess and Tax Excess. 

4.4.1 Statement of Actual Expenses and Taxes; Payment by Tenant. Landlord shall give to Tenant, after the end of each Expense
Year, a statement (the “Statement”) setting forth the actual Expenses, Taxes, Expense Excess and Tax Excess for such Expense Year. If the amount paid by Tenant for such Expense Year pursuant to
Section 4.4.2 is less or more than the sum of Tenant’s Share of the actual Expense Excess plus Tenant’s Share of the actual Tax Excess (as such amounts are set forth in such Statement), Tenant shall pay Landlord
the amount of such underpayment, or receive a credit in the amount of such overpayment, with or against the Rent then or next due hereunder; provided, however, that if this Lease has expired or terminated and Tenant has vacated the Premises, Tenant
shall pay Landlord the amount of such underpayment, or Landlord shall pay Tenant the amount of such overpayment (less any Rent due), within 30 days after delivery of such Statement. Any failure of Landlord to timely deliver the Statement for
any Expense Year shall not diminish either party’s rights under this Section 4. 
 4.4.2 Statement of
Estimated Expenses and Taxes. Landlord shall give to Tenant, for each Expense Year, a statement (the “Estimate Statement”) setting forth Landlord’s reasonable estimates of the Expenses, Taxes, Expense Excess (the
“Estimated Expense Excess”) and Tax Excess (the “Estimated Tax Excess”) for such Expense Year. Upon receiving an Estimate Statement, Tenant shall pay, with its next installment of Base Rent, an amount equal to the
excess of (a) the amount obtained by multiplying (i) the sum of Tenant’s Share of the Estimated Expense Excess plus Tenant’s Share of the 

  
 10 

 
Estimated Tax Excess (as such amounts are set forth in such Estimate Statement), by (ii) a fraction, the numerator of which is the number of months that have elapsed in the applicable
Expense Year (including the month of such payment) and the denominator of which is 12, over (b) any amount previously paid by Tenant for such Expense Year pursuant to this Section 4.4.2. Until Landlord delivers a new
Estimate Statement (which Landlord may do at any time), Tenant shall pay monthly, with the monthly Base Rent installments, an amount equal to one-twelfth (1/12) of the sum of Tenant’s Share of the
Estimated Expense Excess plus Tenant’s Share of the Estimated Tax Excess, as such amounts are set forth in the previous Estimate Statement. Any failure of Landlord to timely deliver any Estimate Statement shall not diminish Landlord’s
rights to receive payments and revise any previous Estimate Statement under this Section 4. 
 4.4.3 Retroactive
Adjustment of Taxes. Notwithstanding any contrary provision hereof, if, after Landlord’s delivery of any Statement, an increase or decrease in Taxes occurs for the applicable Expense Year or for the Base Year (whether by reason of
reassessment, error, or otherwise), Taxes for such Expense Year or the Base Year, as the case may be, and the Tax Excess for such Expense Year shall be retroactively adjusted. If, as a result of such adjustment, it is determined that Tenant has
under- or overpaid Tenant’s Share of such Tax Excess, Tenant shall pay Landlord the amount of such underpayment, or receive a credit in the amount of such overpayment, with or against the Rent then or next due hereunder; provided, however, that
if this Lease has expired or terminated and Tenant has vacated the Premises, Tenant shall pay Landlord the amount of such underpayment, or Landlord shall pay Tenant the amount of such overpayment (less any Rent due), within 30 days after such
adjustment is made. 
 4.5 Charges for Which Tenant Is Directly Responsible. Notwithstanding any contrary provision
hereof, Tenant, promptly upon demand, shall pay (or if paid by Landlord, reimburse Landlord for) each of the following to the extent levied against Landlord or Landlord’s property: (a) any tax based upon or measured by (i) the cost or
value of Tenant’s trade fixtures, equipment, furniture or other personal property, or (ii) the cost or value of the Leasehold Improvements (defined in Section 7.1) to the extent such cost or value exceeds that of
a Building-standard build-out, as determined by Landlord; (b) any rent tax, sales tax, service tax, transfer tax, value added tax, use tax, business tax, gross income tax, gross receipts tax, or other
tax, assessment, fee, levy or charge measured solely by the square footage, Rent, services, tenant allowances or similar amounts, rights or obligations described or provided in or under this Lease; (c) any tax assessed upon the possession,
leasing, operation, management, maintenance, alteration, repair, use or occupancy by Tenant of any portion of the Property; and (d) any tax assessed on this transaction or on any document to which Tenant is a party that creates an interest or
estate in the Premises. 
 4.6 Books and Records. Within 60 days after receiving any Statement (the “Review
Notice Period”), Tenant may give Landlord notice (“Review Notice”) stating that Tenant elects to review Landlord’s calculation of the Expense Excess and/or Tax Excess for the Expense Year to which such Statement
applies and identifying with reasonable specificity the records of Landlord reasonably relating to such matters that Tenant desires to review. Within a reasonable time after receiving a timely Review Notice (and, at Landlord’s option, an
executed confidentiality agreement as described below), Landlord shall deliver to Tenant, or make available for inspection at a location reasonably designated by Landlord, copies of such records. Within 60 days after such records are made available
to Tenant (the “Objection Period”), Tenant may deliver to Landlord notice (an “Objection Notice”) stating with reasonable specificity any objections to the Statement, in which event Landlord and Tenant shall work
together in good faith to resolve Tenant’s objections. Tenant may not deliver more than one Review Notice or more than one Objection Notice with respect to any Statement. If Tenant fails to give Landlord a Review Notice before the expiration of
the Review Notice Period or fails to give Landlord an Objection Notice before the expiration of the Objection Period, Tenant shall be deemed to have approved the Statement. 

  
 11 

 
Notwithstanding any contrary provision hereof, Landlord shall not be required to deliver or make available to Tenant records relating to the Base Year, and Tenant may not object to Expenses or
Taxes for the Base Year, other than in connection with the first review for an Expense Year performed by Tenant pursuant to this Section 4.6. If Tenant retains an agent to review Landlord’s records, the agent must be
with a CPA firm licensed to do business in the State of California and its fees shall not be contingent, in whole or in part, upon the outcome of the review. Tenant shall be responsible for all costs of such review. The records and any related
information obtained from Landlord shall be treated as confidential, and as applicable only to the Premises, by Tenant, its auditors, consultants, and any other parties reviewing the same on behalf of Tenant (collectively, “Tenant’s
Auditors”). Before making any records available for review, Landlord may require Tenant and Tenant’s Auditors to execute a reasonable confidentiality agreement, in which event Tenant shall cause the same to be executed and delivered to
Landlord within 30 days after receiving it from Landlord, and if Tenant fails to do so, the Objection Period shall be reduced by one day for each day by which such execution and delivery follows the expiration of such 30-day period. Notwithstanding any contrary provision hereof, Tenant may not examine Landlord’s records or dispute any Statement if any Rent remains unpaid past its due date. If, for any Expense Year, Landlord
and Tenant determine that the sum of Tenant’s Share of the actual Expense Excess plus Tenant’s Share of the actual Tax Excess is less or more than the amount reported, Tenant shall receive a credit in the amount of its overpayment, or pay
Landlord the amount of its underpayment, against or with the Rent next due hereunder; provided, however, that if this Lease has expired or terminated and Tenant has vacated the Premises, Landlord shall pay Tenant the amount of its overpayment (less
any Rent due), or Tenant shall pay Landlord the amount of its underpayment, within 30 days after such determination. 
 5 USE; COMPLIANCE
WITH LAWS. Tenant shall not (a) use the Premises for any purpose other than the Permitted Use, or (b) do anything in or about the Premises that violates any of the Rules and Regulations, damages the reputation of the Project,
interferes with, injures or annoys other occupants of the Project, or constitutes a nuisance. Tenant, at its expense, shall comply with all Laws relating to (i) the operation of its business at the Project, (ii) the use, condition,
configuration or occupancy of the Premises, (iii) any Supplemental Systems (defined below) serving the Premises, whether located inside or outside of the Premises, or (iv) the portions of Base Building Systems (defined below) located in
the Premises; provided, however, that nothing in this sentence shall be deemed to require Tenant to make any change to any Common Area or the Base Building (other than portions of Base Building Systems located in the Premises). If, in order
to comply with any such Law, Tenant must obtain or deliver any permit, certificate or other document evidencing such compliance, Tenant shall provide a copy of such document to Landlord promptly after obtaining or delivering it. If a change to any
Common Area or the Base Building (other than any portion of a Base Building System located in the Premises) becomes required under Law (or if any such requirement is enforced) as a result of any Tenant-Insured Improvement (defined in
Section 10.2.2), the installation of any trade fixture, or any particular use of the Premises (as distinguished from general office use), then Tenant, upon demand, shall (x) at Landlord’s option, either make such
change at Tenant’s cost or pay Landlord the cost of making such change, and (y) pay Landlord a coordination fee equal to 5% of the cost of such change. As used herein, “Law” means any existing or future law, ordinance,
regulation or requirement of any governmental authority having jurisdiction over the Project or the parties. As used herein, “Supplemental System” means any Unit (defined in Section 25.5), supplemental
fire-suppression system, kitchen (including any hot water heater, dishwasher, garbage disposal, insta-hot dispenser, or plumbing), shower or similar facility, or any other system that would not customarily be
considered part of the base building of a first-class multi-tenant office building. As used herein, “Base Building System” means any mechanical (including HVAC), electrical, plumbing or fire/life-safety system serving the Building,
other than a Supplemental System. As used herein, “Base Building” means the structural portions of the Building, together with the Base Building Systems. 

  
 12 

 6 SERVICES. 

6.1 Standard Services. Landlord shall provide the following services on all days (unless otherwise stated below):
(a) subject to limitations imposed by Law, customary heating, ventilation and air conditioning (“HVAC”) in season during Building HVAC Hours, stubbed to the Premises; (b) electricity supplied by the applicable public
utility, stubbed to the Premises; (c) water supplied by the applicable public utility (i) for use in lavatories and any drinking facilities located in Common Areas within the Building, and (ii) stubbed to the Building core for use in
any plumbing fixtures located in the Premises; (d) janitorial services to the Premises, except on weekends and Holidays; (e) elevator service (subject to scheduling by Landlord, and payment of Landlord’s standard usage fee, for any
freight service), and (f) access to the Building for Tenant and its employees, 24 hours per day/7 days per week, subject to the terms hereof and such security or monitoring systems as Landlord may reasonably impose, including sign-in procedures and/or presentation of identification cards. 
 6.2 Above-Standard
Use. Landlord shall provide HVAC service outside Building HVAC Hours if Tenant gives Landlord such prior notice and pays Landlord such hourly cost per zone as Landlord may require. Tenant shall not, without Landlord’s prior
consent, use equipment that may affect the temperature maintained by the air conditioning system or consume above-Building-standard amounts of any water furnished for the Premises by Landlord pursuant to Section 6.1. If
Tenant’s consumption of electricity or water exceeds the rate Landlord reasonably deems to be standard for the Building, Tenant shall pay Landlord, upon billing, the cost of such excess consumption, including any costs of installing, operating
and maintaining any equipment that is installed in order to supply or measure such excess electricity or water. The connected electrical load of Tenant’s incidental-use equipment shall not exceed the
Building-standard electrical design load, and Tenant’s electrical usage shall not exceed the capacity of the feeders to the Project or the risers or wiring installation. 

6.3 Interruption. Subject to Section 11, any failure to furnish, delay in furnishing, or
diminution in the quality or quantity of any service resulting from any application of Law, failure of equipment, performance of maintenance, repairs, improvements or alterations, utility interruption, or event of Force Majeure (each, a
“Service Interruption”) shall not render Landlord liable to Tenant, constitute a constructive eviction, or excuse Tenant from any obligation hereunder. Notwithstanding the foregoing, if all or a material portion of the
Premises is made untenantable or inaccessible for more than five (5) consecutive business days after notice from Tenant to Landlord by a Service Interruption that (a) does not result from a Casualty (defined in
Section 11), a Taking (defined in Section 13) or an Act of Tenant (defined in Section 10.1), and (b) can be corrected through Landlord’s reasonable efforts,
then, as Tenant’s sole remedy, Monthly Rent shall abate for the period beginning on the day immediately following such 5-business-day period and ending on the day
such Service Interruption ends, but only in proportion to the percentage of the rentable square footage of the Premises made untenantable or inaccessible and not occupied by Tenant. 

7 REPAIRS AND ALTERATIONS. 
 7.1
Repairs. Subject to Section 11, Tenant, at its expense, shall perform all maintenance and repairs (including replacements) to the Premises, and keep the Premises in as good condition and repair as
existed when Tenant took possession and as thereafter improved, except for reasonable wear and tear and repairs that are Landlord’s express responsibility hereunder. Tenant’s maintenance and repair obligations shall include (a) all
leasehold improvements in the Premises, including any Tenant Improvements, any Alterations (defined in Section 7.2), and any leasehold improvements installed pursuant to any prior lease (the “Leasehold
Improvements”), but excluding the Base Building; (b) any Supplemental Systems serving the Premises, whether located inside or outside of the Premises; and (c) all Lines (defined in Section 23) and trade
fixtures. Notwithstanding the foregoing, if a Default (defined in Section 19.1) or an emergency exists, Landlord may, at its option, perform such maintenance and repairs on Tenant’s behalf,

  
 13 

 
in which case Tenant shall pay Landlord, upon demand, the cost of such work plus, if a Default exists, a coordination fee equal to 10% of such cost. Landlord shall perform all maintenance and
repairs to (i) the roof and exterior walls and windows of the Building, (ii) the Base Building, and (iii) the Common Areas. 

7.2 Alterations. Tenant may not make any improvement, alteration, addition or change to the Premises or to any mechanical,
plumbing or HVAC facility or other system serving the Premises (an “Alteration”) without Landlord’s prior consent, which consent shall be requested by Tenant not less than 10 business days before commencement of work and
shall not be unreasonably withheld by Landlord. Notwithstanding the foregoing, Landlord’s prior consent shall not be required for any Alteration that is decorative only (e.g., carpet installation or painting) and not visible from outside
the Premises, provided that Landlord receives 10 business days’ prior notice. For any Alteration, (a) Tenant, before beginning work, shall deliver to Landlord, and obtain Landlord’s approval of, plans and specifications;
(b) Landlord, in its discretion, may require Tenant to obtain security for performance satisfactory to Landlord; (c) Tenant shall deliver to Landlord “as built” drawings (in CAD format, if requested by Landlord), completion
affidavits, full and final lien waivers, and all governmental approvals; and (d) Tenant shall pay Landlord upon demand (i) Landlord’s reasonable
out-of-pocket expenses incurred in reviewing the work, and (ii) a coordination fee equal to 5% of the cost of the work; provided, however, that this clause (d)
shall not apply to any Tenant Improvements. 
 7.3 Tenant Work. Before beginning any repair or Alteration or any work
affecting Lines (collectively, “Tenant Work”), Tenant shall deliver to Landlord, and obtain Landlord’s approval of, (a) names of contractors, subcontractors, mechanics, laborers and materialmen; (b) evidence of
contractors’ and subcontractors’ insurance; and (c) any required governmental permits. Tenant shall perform all Tenant Work (i) in a good and workmanlike manner using materials of a quality reasonably approved by Landlord;
(ii) in compliance with any approved plans and specifications, all Laws, the National Electric Code, and Landlord’s construction rules and regulations; and (iii) in a manner that does not impair the Base Building. If, as a result of
any Tenant Work, Landlord becomes required under Law to perform any inspection, give any notice, or cause such Tenant Work to be performed in any particular manner, Tenant shall comply with such requirement and promptly provide Landlord with
reasonable documentation of such compliance. Landlord’s approval of Tenant’s plans and specifications shall not relieve Tenant from any obligation under this Section 7.3. In performing any Tenant Work, Tenant
shall not use contractors, services, labor, materials or equipment that, in Landlord’s reasonable judgment, would disturb labor harmony with any workforce or trades engaged in performing other work or services at the Project. 

8 LANDLORD’S PROPERTY. All Leasehold Improvements shall become Landlord’s property upon installation and without compensation
to Tenant. Notwithstanding the foregoing, if any Tenant-Insured Improvements (other than any Unit, which shall be governed by Section 25.5) are not, in Landlord’s reasonable judgment, Building-standard, then before the
expiration or earlier termination hereof, Tenant shall, at Landlord’s election, either (a) at Tenant’s expense, and except as otherwise notified by Landlord, remove such Tenant-Insured Improvements (other than the Excluded Items
(defined below)), repair any resulting damage to the Premises or Building, and restore the affected portion of the Premises to its configuration and condition existing before the installation of such Tenant-Insured Improvements (or, at
Landlord’s election, to a Building-standard tenant-improved configuration and condition as determined by Landlord), or (b) pay Landlord an amount equal to the estimated cost of such work, as reasonably determined by Landlord. If Tenant
fails to timely perform any work required under clause (a) of the preceding sentence, Landlord may perform such work at Tenant’s expense. If Tenant provides Landlord with a reasonably specific description of any proposed Tenant
Improvements or Alterations, together with a specific request that Landlord identify any such Tenant Improvements or Alterations that, in Landlord’s judgment, are not Building-standard, Landlord, within 15 business days after receiving
such description and request (or, if Tenant, when providing such description and request, 

  
 14 

 
also requests Landlord’s consent to such Tenant Improvements or Alterations, and if earlier, then not later than when providing such consent), shall provide such identification to Tenant. As
used herein, “Excluded Items” means the Initial Tenant Work shown with reasonable specificity on the space plan attached as Exhibit I hereto.  

9 LIENS. Tenant shall keep the Project free from any lien arising out of any work performed, material furnished or obligation incurred by or on behalf
of Tenant. Tenant shall remove any such lien within 10 business days after notice from Landlord, and if Tenant fails to do so, Landlord, without limiting its remedies, may pay the amount necessary to cause such removal, whether or not such lien
is valid. The amount so paid, together with reasonable attorneys’ fees and expenses, shall be reimbursed by Tenant upon demand. 
 10
INDEMNIFICATION; INSURANCE. 
 10.1 Waiver and Indemnification. Tenant waives all claims against Landlord, its
Security Holders (defined in Section 17), Landlord’s managing agent(s), their (direct or indirect) owners, and the beneficiaries, trustees, officers, directors, employees and agents of each of the foregoing (including
Landlord, the “Landlord Parties”) for (i) any damage to person or property (or resulting from the loss of use thereof), except to the extent such damage is caused by any negligence, willful misconduct or breach of this Lease of
or by any Landlord Party, or (ii) any failure to prevent or control any criminal or otherwise wrongful conduct by any third party or to apprehend any third party who has engaged in such conduct. Tenant shall indemnify, defend, protect, and hold
the Landlord Parties harmless from any obligation, loss, claim, action, liability, penalty, damage, cost or expense (including reasonable attorneys’ and consultants’ fees and expenses) (each, a “Claim”) that is imposed or
asserted by any third party and arises from (a) any cause in, on or about the Premises, or (b) any negligence, willful misconduct or breach of this Lease of or by Tenant, any party claiming by, through or under Tenant, their (direct or
indirect) owners, or any of their respective beneficiaries, trustees, officers, directors, employees, agents, contractors, licensees or invitees (each, an “Act of Tenant”), except to the extent such Claim arises from any gross
negligence, willful misconduct or breach of this Lease of or by any Landlord Party. 
 10.2 Tenant’s Insurance.
Tenant shall maintain the following coverages in the following amounts: 
 10.2.1 Commercial General Liability Insurance covering claims of
bodily injury, personal injury and property damage arising out of Tenant’s operations and contractual liabilities, including coverage formerly known as broad form, on an occurrence basis, with combined primary and excess/umbrella limits of at
least $3,000,000 each occurrence and $4,000,000 annual aggregate. 
 10.2.2 Property Insurance covering (i) all office furniture, trade
fixtures, office equipment, free-standing cabinet work, movable partitions, merchandise and all other items of Tenant’s property in the Premises installed by, for, or at the expense of Tenant, and (ii) any Leasehold Improvements installed
by or for the benefit of Tenant, whether pursuant to this Lease or pursuant to any prior lease or other agreement to which Tenant was a party (“Tenant-Insured Improvements”). Such insurance shall be written on a special cause of
loss or all risk form for physical loss or damage, for the full replacement cost value (subject to reasonable deductible amounts) new without deduction for depreciation of the covered items and in amounts that meet any
co-insurance clauses of the policies of insurance, and shall include coverage for damage or other loss caused by fire or other peril, including vandalism and malicious mischief, theft, water damage of any
type, including sprinkler leakage, bursting or stoppage of pipes, and explosion, and providing business interruption coverage for a period of one year. 

10.2.3 Workers’ Compensation statutory limits and Employers’ Liability limits of $1,000,000. 

  
 15 

 10.3 Form of Policies. The minimum limits of insurance required to be
carried by Tenant shall not limit Tenant’s liability. Such insurance shall be issued by an insurance company that has an A.M. Best rating of not less than A-VIII. Tenant’s Commercial General
Liability Insurance shall (a) name the Landlord Parties and any other party designated by Landlord (“Additional Insured Parties”) as additional insureds; and (b) be primary insurance as to all claims thereunder and provide
that any insurance carried by Landlord is excess and non-contributing with Tenant’s insurance. Landlord shall be designated as a loss payee with respect to Tenant’s Property Insurance on any
Tenant-Insured Improvements. Tenant shall deliver to Landlord, on or before the Commencement Date and at least 15 days before the expiration dates thereof, certificates from Tenant’s insurance company on the forms currently designated
“ACORD 25” (Certificate of Liability Insurance) and “ACORD 28” (Evidence of Commercial Property Insurance) or the equivalent. Attached to the ACORD 25 (or equivalent) there shall be an endorsement (or an excerpt from the
policy) naming the Additional Insured Parties as additional insureds, and attached to the ACORD 28 (or equivalent) there shall be an endorsement (or an excerpt from the policy) designating Landlord as a loss payee with respect to Tenant’s
Property Insurance on any Tenant-Insured Improvements, and each such endorsement (or policy excerpt) shall be binding on Tenant’s insurance company. 

10.4 Subrogation. Notwithstanding anything herein to the contrary (including the provisions hereof regarding indemnity and
repairs), each party waives and releases, and shall cause its insurance carrier to waive, any right of recovery against the other party, any of its (direct or indirect) owners, or any of their respective beneficiaries, trustees, officers, directors,
employees or agents for any loss of or damage to property which loss or damage is caused by or results from a risk which is (or, if the insurance required hereunder had been carried, would have been) covered by the waiving party’s property
insurance. For purposes of this Section 10.4 only, (a) any deductible with respect to a party’s insurance shall be deemed covered by, and recoverable by such party under, valid and collectable policies of
insurance, and (b) any contractor retained by Landlord to install, maintain or monitor a fire or security alarm for the Building shall be deemed an agent of Landlord. 

10.5 Additional Insurance Obligations. Tenant shall maintain such increased amounts of the insurance required to be
carried by Tenant under this Section 10, and such other types and amounts of insurance covering the Premises and Tenant’s operations therein, as may be reasonably requested by Landlord, but not in excess of the amounts
and types of insurance then being required by landlords of Comparable Buildings. 
 10.6 Landlord’s Insurance.
Landlord shall maintain the following insurance, together with such other insurance coverage as Landlord, in its reasonable judgment, may elect to maintain, the premiums of which shall be included in Expenses: (a) Commercial General
Liability insurance applicable to the Property, Building and Common Areas providing, on an occurrence basis, combined primary and excess/umbrella limits of at least $3,000,000 each occurrence and $4,000,000 annual aggregate; (b) Special Cause
of Loss or All Risk Insurance on the Building at replacement cost value as reasonably estimated by Landlord; (c) Worker’s Compensation insurance to the extent required by Law; and (d) Employers Liability Coverage to the extent
required by Law. 
 11 CASUALTY DAMAGE. With reasonable promptness after discovering any damage to the Premises (other than trade fixtures),
or to any Common Area or portion of the Base Building necessary for access to or tenantability of the Premises, resulting from any fire or other casualty (a “Casualty”), Landlord shall notify Tenant of Landlord’s reasonable
estimate of the time required to substantially complete repair of such damage (the “Landlord Repairs”). If, according to such estimate, the Landlord Repairs cannot be substantially completed within 210 days after they are
commenced, either party may terminate this Lease upon 60 days’ notice to the other party delivered within 10 days after Landlord’s delivery of such estimate. Within 90 days after discovering any damage to the Project
resulting from any Casualty, Landlord may, whether or not the Premises are affected, terminate this Lease by notifying 

  
 16 

 
Tenant if (i) any Security Holder terminates any ground lease or requires that any insurance proceeds be used to pay any mortgage debt; (ii) any damage to Landlord’s property is
not fully covered by Landlord’s insurance policies; (iii) Landlord decides to rebuild the Building or Common Areas so that it or they will be substantially different structurally or architecturally; (iv) the damage occurs during the
last 12 months of the Term; or (v) any owner, other than Landlord, of any damaged portion of the Project does not intend to repair such damage. If this Lease is not terminated pursuant to this Section 11, Landlord
shall promptly and diligently perform the Landlord Repairs, subject to reasonable delays for insurance adjustment and other events of Force Majeure. The Landlord Repairs shall restore the Premises (other than trade fixtures) and any Common Area or
portion of the Base Building necessary for access to or tenantability of the Premises to substantially the same condition that existed when the Casualty occurred, except for (a) any modifications required by Law or any Security Holder, and
(b) any modifications to the Common Areas that are deemed desirable by Landlord, are consistent with the character of the Project, and do not materially impair access to or tenantability of the Premises. Notwithstanding
Section 10.4, Tenant shall assign to Landlord (or its designee) all insurance proceeds payable to Tenant under Tenant’s insurance required under Section 10.2 with respect to any Tenant-Insured
Improvements, and if the estimated or actual cost of restoring any Tenant-Insured Improvements exceeds the insurance proceeds received by Landlord from Tenant’s insurance carrier, Tenant shall pay such excess to Landlord within 15 days
after Landlord’s demand. No Casualty and no restoration performed as required hereunder shall render Landlord liable to Tenant, constitute a constructive eviction, or excuse Tenant from any obligation hereunder; provided, however, that if the
Premises (other than trade fixtures) or any Common Area or portion of the Base Building necessary for access to or tenantability of the Premises is damaged by a Casualty, then, during any time that, as a result of such damage, any portion of the
Premises is inaccessible or untenantable and is not occupied by Tenant, Monthly Rent shall be abated in proportion to the rentable square footage of such portion of the Premises. 

12 NONWAIVER. No provision hereof shall be deemed waived by either party unless it is waived by such party expressly and in writing, and no
waiver of any breach of any provision hereof shall be deemed a waiver of any subsequent breach of such provision or any other provision hereof. Landlord’s acceptance of Rent shall not be deemed a waiver of any preceding breach of any provision
hereof, other than Tenant’s failure to pay the particular Rent so accepted, regardless of Landlord’s knowledge of such preceding breach at the time of such acceptance. No acceptance of payment of an amount less than the Rent due hereunder
shall be deemed a waiver of Landlord’s right to receive the full amount of Rent due, whether or not any endorsement or statement accompanying such payment purports to effect an accord and satisfaction. No receipt of monies by Landlord from
Tenant after the giving of any notice, the commencement of any suit, the issuance of any final judgment, or the termination hereof shall affect such notice, suit or judgment, or reinstate or extend the Term or Tenant’s right of possession
hereunder. 
 13 CONDEMNATION. If any part of the Premises, Building or Project is taken for any public or quasi-public use by power of
eminent domain or by private purchase in lieu thereof (a “Taking”) for more than 180 consecutive days, Landlord may terminate this Lease. If more than 25% of the rentable square footage of the Premises, or any Common Area or
portion of the Base Building necessary for access to or tenantability of the Premises, is Taken for more than 180 consecutive days, Tenant may terminate this Lease. Any such termination shall be effective as of the date possession must be
surrendered to the authority, and the terminating party shall provide termination notice to the other party within 45 days after receiving written notice of such surrender date. Except as provided above in this
Section 13, neither party may terminate this Lease as a result of a Taking. Tenant shall not assert, and hereby assigns to Landlord, any claim it may have for compensation because of any Taking; provided, however, that
Tenant may file a separate claim for any Taking of Tenant’s personal property or any trade fixtures that Tenant is entitled to remove upon the expiration hereof, and for moving expenses, so long as such claim does not diminish the award
available to Landlord or any Security Holder and is payable separately to Tenant. If this Lease is terminated pursuant to this Section 13, all Rent shall be apportioned as of the date of such termination.

  
 17 

 
If a Taking occurs and this Lease is not so terminated, Monthly Rent shall be abated for the period of such Taking in proportion to the percentage of the rentable square footage of the Premises,
if any, that is subject to, or rendered inaccessible or untenantable by, such Taking and not occupied by Tenant. 
 14 ASSIGNMENT AND SUBLETTING.

 14.1 Transfers. Except as otherwise provided in this Section 14, Tenant shall not,
without Landlord’s prior consent, assign, mortgage, pledge, hypothecate, encumber, permit any lien to attach to, or otherwise transfer this Lease or any interest hereunder, permit any assignment or other transfer hereof or any interest
hereunder by operation of law, enter into any sublease or license agreement, otherwise permit the occupancy or use of any part of the Premises by any persons other than Tenant and its employees and contractors, or permit a Change of Control (defined
in Section 14.6) to occur (each, a “Transfer”). If Tenant desires Landlord’s consent to any Transfer, Tenant shall provide Landlord with (i) notice of the terms of the proposed Transfer, including
its proposed effective date (the “Contemplated Effective Date”), a description of the portion of the Premises to be transferred (the “Contemplated Transfer Space”), a calculation of the Transfer Premium (defined in
Section 14.3), and a copy of all existing executed and/or proposed documentation pertaining to the proposed Transfer, and (ii) current financial statements of the proposed transferee (or, in the case of a Change of
Control, of the proposed new controlling party(ies)) certified by an officer or owner thereof and any other information reasonably required by Landlord in order to evaluate the proposed Transfer (collectively, the “Transfer
Notice”). Within 30 days after receiving the Transfer Notice, Landlord shall notify Tenant of (a) its consent to the proposed Transfer, (b) its refusal to consent to the proposed Transfer, or (c) its exercise of its
rights under Section 14.4. Any Transfer made without Landlord’s prior consent shall, at Landlord’s option, be void and shall, at Landlord’s option, constitute a Default. Tenant shall pay Landlord a fee of
$1,500.00 for Landlord’s review of any proposed Transfer, whether or not Landlord consents to it. 
 14.2
Landlord’s Consent. Subject to Section 14.4, Landlord shall not unreasonably withhold its consent to any proposed Transfer. Without limiting other reasonable grounds for
withholding consent, it shall be deemed reasonable for Landlord to withhold its consent to a proposed Transfer if: 
 14.2.1 The proposed
transferee is not a party of reasonable financial strength in light of the responsibilities to be undertaken in connection with the Transfer on the date the Transfer Notice is received; or 

14.2.2 The proposed transferee has a character or reputation or is engaged in a business that is not consistent with the quality of the
Building or the Project; or 
 14.2.3 The proposed transferee is a governmental entity or a nonprofit organization; or 

14.2.4 The proposed transferee or any of its Affiliates, on the date the Transfer Notice is received, leases or occupies (or, at any time
during the 6-month period ending on the date the Transfer Notice is received, has negotiated with Landlord to lease) space in the Project. 

Notwithstanding any contrary provision hereof, (a) if Landlord consents to any Transfer pursuant to this
Section 14.2 but Tenant does not enter into such Transfer within six (6) months thereafter, such consent shall no longer apply and such Transfer shall not be permitted unless Tenant again obtains Landlord’s
consent thereto pursuant and subject to the terms of this Section 14; and (b) if Landlord withholds its consent in breach of this Section 14.2, Tenant’s sole remedies shall be contract
damages (subject to Section 20) or specific performance, and Tenant waives all other remedies, including any right to terminate this Lease. 

  
 18 

 14.3 Transfer Premium. If Landlord consents to a Transfer (other than
an Unpermitted Change of Control), Tenant shall pay Landlord an amount equal to 50% of any Transfer Premium (defined below). As used herein, “Transfer Premium” means (a) in the case of an assignment, any consideration
(including payment for Leasehold Improvements) paid by the assignee for such assignment, less any reasonable and customary expenses directly incurred by Tenant on account of such assignment, including brokerage fees, legal fees, and Landlord’s
review fee, and (b) in the case of a sublease, license or other occupancy agreement, for each month of the term of such agreement, the amount by which all rent and other consideration paid by the transferee to Tenant pursuant to such agreement
(less all reasonable and customary expenses directly incurred by Tenant on account of such agreement, including brokerage fees, legal fees, construction costs and Landlord’s review fee, as amortized on a monthly, straight-line basis over the
term of such agreement), exceeds the Monthly Rent payable by Tenant hereunder with respect to the Contemplated Transfer Space. Payment of Landlord’s share of the Transfer Premium shall be made (x) in the case of an assignment, within
10 days after Tenant receives the consideration described above, and (y) in the case of a sublease, license or other occupancy agreement, for each month of the term of such agreement, within five (5) business days after Tenant
receives the rent and other consideration described above. Notwithstanding any contrary provision of this Section 14.3, Tenant shall not be required to pay Landlord any portion of any Transfer Premium arising from any
Change of Control that occurs for a good faith operating business purpose and not in order to evade the requirements of this Section 14.3. 

14.4 Landlord’s Right to Recapture. Notwithstanding any contrary provision hereof, except
in the case of a Permitted Transfer (defined in Section 14.8), a Change of Control, or a sublease (including any expansion rights) of less than 75% of the rentable square footage of the then existing Premises for a term
(including any extension options) of less than 75% of the balance of the Term remaining on the Contemplated Effective Date (excluding any unexercised extension options), Landlord, by notifying Tenant within 30 days after receiving the Transfer
Notice, may terminate this Lease with respect to the Contemplated Transfer Space as of the Contemplated Effective Date. If the Contemplated Transfer Space is less than the entire Premises, then Base Rent, Tenant’s Share, and the number of
parking spaces to which Tenant is entitled under Section 1.9 shall be deemed adjusted on the basis of the percentage of the rentable square footage of the portion of the Premises retained by Tenant. Upon request of either
party, the parties shall execute a written agreement prepared by Landlord memorializing such termination. 
 14.5 Effect of
Consent. If Landlord consents to a Transfer, (i) such consent shall not be deemed a consent to any further Transfer, (ii) Tenant shall deliver to Landlord, promptly after execution, an executed copy of all documentation
pertaining to the Transfer in form reasonably acceptable to Landlord, and (iii) Tenant shall deliver to Landlord, upon Landlord’s request, a complete statement, certified by an independent CPA or Tenant’s chief financial officer,
setting forth in detail the computation of any Transfer Premium. In the case of an assignment, the assignee shall assume in writing, for Landlord’s benefit, all of Tenant’s obligations hereunder. No Transfer, with or without
Landlord’s consent, shall relieve Tenant or any guarantor hereof from any liability hereunder. Notwithstanding any contrary provision hereof, Tenant, with or without Landlord’s consent, shall not enter into, or permit any party claiming
by, through or under Tenant to enter into, any sublease, license or other occupancy agreement that provides for payment based in whole or in part on the net income or profit of the subtenant, licensee or other occupant thereunder. 

14.6 Change of Control. As used herein, “Change of Control” means (a) if Tenant is a closely held
professional service firm, the withdrawal or change (whether voluntary, involuntary or by operation of law) of more than 25% of its equity owners within a 12-month period; and (b) in all other cases,
any transaction(s) that (i) result in the acquisition of a Controlling Interest (defined below) in Tenant by one or more parties that neither owned, nor are Affiliates (defined below) of one or more parties that owned, a Controlling Interest in
Tenant immediately before such transaction(s) (collectively, the “New Controlling  

  
 19 

 
Party”), and (ii) are undertaken without any material good faith operating business purpose other than to cause the tenant’s interest in this Lease to be owned by an entity
in which the New Controlling Party has a Controlling Interest. As used herein, “Controlling Interest” means control over an entity, other than control arising from the ownership of voting securities listed on a recognized securities
exchange. As used herein, “control” means the direct or indirect power to direct the ordinary management and policies of an entity, whether through the ownership of voting securities, by contract or otherwise. As used herein,
“Affiliate” means, with respect to any party, a person or entity that controls, is under common control with, or is controlled by such party. (For the avoidance of doubt, Landlord acknowledges that, by operation of the definitions
of “Transfer,” “Change of Control” and “Controlling Interest,” no stock of Tenant listed on a recognized securities exchange shall be deemed a Controlling Interest, and, therefore, no issuance of Tenant’s stock in
an offering or sale on a recognized securities exchange shall be deemed a Change of Control or a Transfer.) 
 14.7 Effect of
Default. If Tenant is in Default, Landlord is irrevocably authorized, as Tenant’s agent and attorney-in-fact, to direct any transferee under any
sublease, license or other occupancy agreement to make all payments under such agreement directly to Landlord (which Landlord shall apply towards Tenant’s obligations hereunder) until such Default is cured. Such transferee shall rely upon any
representation by Landlord that Tenant is in Default, whether or not confirmed by Tenant. 
 14.8 Permitted Transfers.
Notwithstanding any contrary provision hereof, if Tenant is not in Default, Tenant may, without Landlord’s consent pursuant to Section 14.1, permit a Change of Control to occur, or assign this Lease to (a) an
Affiliate of Tenant (other than pursuant to a merger or consolidation), (b) a successor to Tenant by merger or consolidation or reorganization, or (c) a successor to Tenant by purchase of all or substantially all of Tenant’s assets (a
“Permitted Transfer”), provided that (i) at least 10 business days before the Transfer, Tenant notifies Landlord of the Transfer and delivers to Landlord any documents or information reasonably requested by Landlord
relating thereto, including reasonable documentation that the Transfer satisfies the requirements of this Section 14.8; (ii) in the case of an assignment pursuant to clause (a) or (c) above, the assignee
executes and delivers to Landlord, at least 10 business days before the assignment, a commercially reasonable instrument pursuant to which the assignee assumes, for Landlord’s benefit, all of Tenant’s obligations hereunder;
(iii) in the case of an assignment pursuant to clause (b) above, (A) the successor entity has a net worth (as determined in accordance with GAAP, but excluding intellectual property and any other intangible assets (“Net
Worth”)) immediately after the Transfer that is not less than Tenant’s Net Worth immediately before the Transfer, and (B) if Tenant is a closely held professional service firm, at least 75% of its equity owners existing
12 months before the Transfer are also equity owners of the successor entity; (iv) except in the case of a Change of Control, the transferee is qualified to conduct business in the State of California; (v) in the case of a Change of
Control, (A) Tenant is not a closely held professional service firm, and (B) Tenant’s Net Worth immediately after the Change of Control is not less than its Net Worth immediately before the Change of Control; and (vi) the
Transfer is made for a good faith operating business purpose and not in order to evade the requirements of this Section 14. 

15 SURRENDER. Upon the expiration or earlier termination hereof, and subject to Sections 8 and 11 and this
Section 15, Tenant shall surrender possession of the Premises to Landlord in as good condition and repair as existed when Tenant took possession and as thereafter improved, except for reasonable wear and tear and repairs
that are Landlord’s express responsibility (including in the event of a Casualty or a Taking) hereunder. Before such expiration or termination, Tenant, without expense to Landlord, shall (a) remove from the Premises all debris and rubbish
and all furniture, equipment, trade fixtures, Lines, free-standing cabinet work, movable partitions and other articles of personal property that are owned or placed in the Premises by Tenant or any party claiming by, through or under Tenant (except
for any Lines not required to be removed under Section 23), and (b) repair all damage to the Premises and Building resulting from such removal. If Tenant fails to timely perform such removal and repair, Landlord may do

  
 20 

 
so at Tenant’s expense (including storage costs). If Tenant fails to remove such property from the Premises, or from storage, within 30 days after notice from Landlord, any part of such
property shall be deemed, at Landlord’s option, either (x) conveyed to Landlord without compensation, or (y) abandoned. 
 16
HOLDOVER. If Tenant fails to surrender the Premises upon the expiration or earlier termination hereof, Tenant’s tenancy shall be subject to the terms and conditions hereof; provided, however, that such tenancy shall be a tenancy at
sufferance only, for the entire Premises, and Tenant shall pay Monthly Rent (on a per-month basis without reduction for any partial month) at a rate equal to 150% of the Monthly Rent applicable during the last
calendar month of the Term. Nothing in this Section 16 shall be deemed a consent to any holdover or limit Landlord’s rights or remedies. If Landlord is unable to deliver possession of the Premises to, or perform
improvements for, a new tenant as a result of Tenant’s holdover, Tenant shall be liable for all resulting damages, including lost profits, incurred by Landlord. 

17 SUBORDINATION; ESTOPPEL CERTIFICATES. This Lease shall be subject and subordinate to all existing and future ground or underlying leases,
mortgages, trust deeds and other encumbrances against the Building or Project, all renewals, extensions, modifications, consolidations and replacements thereof (each, a “Security Agreement”), and all advances made upon the security
of such mortgages or trust deeds, unless in each case the holder of such Security Agreement (each, a “Security Holder”) requires in writing that this Lease be superior thereto. Upon any termination or foreclosure (or any delivery of
a deed in lieu of foreclosure) of any Security Agreement, Tenant, upon request, shall attorn, without deduction or set-off, to the Security Holder or purchaser or any successor thereto and shall recognize such
party as the lessor hereunder provided that such party agrees not to disturb Tenant’s occupancy so long as Tenant timely pays the Rent and otherwise performs its obligations hereunder, in each case, within applicable notice and cure periods.
Within 10 business days after Landlord’s request, Tenant shall execute such further instruments as Landlord may reasonably deem necessary to evidence the subordination or superiority of this Lease to any Security Agreement. Tenant waives
any right it may have under Law to terminate or otherwise adversely affect this Lease or Tenant’s obligations hereunder upon a foreclosure. Within 10 business days after Landlord’s request, Tenant shall execute and deliver to Landlord
a commercially reasonable estoppel certificate in favor of such parties as Landlord may reasonably designate, including current and prospective Security Holders and prospective purchasers. 

18 ENTRY BY LANDLORD. At all reasonable times and upon reasonable notice to Tenant, or in an emergency, Landlord may enter the Premises to
(i) inspect the Premises; (ii) show the Premises to prospective purchasers, current or prospective Security Holders or insurers, or, during the last 12 months of the Term (or while an uncured Default exists), prospective tenants;
(iii) post notices of non-responsibility; or (iv) perform maintenance, repairs or alterations. At any time and without notice to Tenant, Landlord may enter the Premises to perform required services;
provided, however, that except in an emergency, Landlord shall provide Tenant with reasonable prior notice (which notice, notwithstanding Section 25.1, may be delivered by e-mail,
fax, telephone or orally and in person) of any entry to perform a service that is not performed on a monthly or more frequent basis. If reasonably necessary, Landlord may temporarily close any portion of the Premises to perform maintenance, repairs
or alterations. In an emergency, Landlord may use any means it deems proper to open doors to and in the Premises. Except in an emergency, Landlord shall use reasonable efforts to minimize interference with Tenant’s use of the Premises. Without
limiting the foregoing, except in an emergency, any unreasonably noisy or otherwise disruptive work performed by Landlord in the Premises pursuant to this Section 18 shall be performed outside of normal business hours. No
entry into or closure of any portion of the Premises pursuant to this Section 18 shall render Landlord liable to Tenant, constitute a constructive eviction, or excuse Tenant from any obligation hereunder. Notwithstanding
the foregoing, if a closure of a portion of the Premises by Landlord pursuant to this Section 18 lasts for more than five (5) consecutive business days and is made necessary by an event or condition that (a) does
not result from a Casualty, a Taking or an Act of Tenant, and (b) is within Landlord’s reasonable control, then, as Tenant’s sole remedy for such closure, Monthly Rent shall abate for such portion of the Premises beginning on the
first business day following the expiration of such 5-business-day period and ending on the date on which such closure terminates. 

  
 21 

 [REMAINDER OF PAGE INTENTIONALLY LEFT BLANK] 

19 DEFAULTS; REMEDIES. 
 19.1 Events
of Default. The occurrence of any of the following shall constitute a “Default”: 
 19.1.1 Any failure by
Tenant to pay any Rent (or deliver any security deposit, letter of credit, or similar credit enhancement required hereunder) when due unless such failure is cured within five (5) business days after written notice from Landlord; or 

19.1.2 Except where a specific time period is otherwise set forth for Tenant’s cure herein (in which event Tenant’s failure to cure
within such time period shall be a Default), and except as otherwise provided in this Section 19.1, any breach by Tenant of any other provision hereof where such breach continues for 30 days after written notice from
Landlord; provided that if such breach cannot reasonably be cured within such 30-day period, Tenant shall not be in Default as a result of such breach if Tenant diligently commences such cure within such
period, thereafter diligently pursues such cure, and completes such cure within 60 days after Landlord’s notice; or 
 19.1.3
Abandonment of the Premises by Tenant; or 
 19.1.4 Any breach by Tenant of Section 17 or 18 where such
breach continues for more than two (2) business days after written notice from Landlord; or 
 19.1.5 Tenant becomes in breach of
Section 25.3(c) or (d). 
 If (a) Tenant breaches a particular provision hereof (other than a
provision requiring payment of Rent), and Landlord notifies Tenant of such breach, on three (3) separate occasions during any 12-month period (it being agreed that two such occasions shall not be
considered separate unless Landlord’s notice of the first breach precedes the occurrence of the second breach), and (b) such breaches are collectively material, then, provided that the third such notice quotes this sentence in 14-point type, Tenant’s subsequent breach of such provision within six (6) months after such third notice shall be, at Landlord’s option, an incurable Default. The notice periods provided herein are
in lieu of, and not in addition to, any notice periods provided by Law, and Landlord shall not be required to give any additional notice in order to be entitled to commence an unlawful detainer proceeding. 

19.2 Remedies Upon Default. Upon any Default, Landlord shall have, in addition to any other remedies available to Landlord
at law or in equity (which shall be cumulative and nonexclusive), the option to pursue any one or more of the following remedies (which shall be cumulative and nonexclusive) without any notice or demand: 

19.2.1 Landlord may terminate this Lease, in which event Tenant shall immediately surrender the Premises to Landlord, and if Tenant fails to do
so, Landlord may, without prejudice to any other remedy it may have for possession or arrearages in Rent, enter upon and take possession of the Premises and expel or remove Tenant and any other person who may be occupying the Premises or any part
thereof, without being liable for prosecution or any claim of damages therefor; and Landlord may recover from Tenant the following: 

  
 22 

 (a) The worth at the time of award of the unpaid Rent which had been earned at the time of
such termination; plus 
 (b) The worth at the time of award of the amount by which the unpaid Rent which would have been earned after
termination until the time of award exceeds the amount of such rental loss that Tenant proves could have been reasonably avoided; plus 

(c) The worth at the time of award of the amount by which the unpaid Rent for the balance of the Term after the time of award exceeds the
amount of such Rent loss that Tenant proves could be reasonably avoided; plus 
 (d) Any other amount necessary to compensate Landlord for
all the detriment proximately caused by Tenant’s failure to perform its obligations hereunder or which in the ordinary course of things would be likely to result therefrom, including brokerage commissions, advertising expenses, expenses of
remodeling any portion of the Premises for a new tenant (whether for the same or a different use), and any special concessions made to obtain a new tenant; plus 

(e) At Landlord’s option, such other amounts in addition to or in lieu of the foregoing as may be permitted from time to time by Law.

 As used in Sections 19.2.1(a) and (b), the “worth at the time of award” shall be
computed by allowing interest at a rate per annum equal to the lesser of (i) the annual “Bank Prime Loan” rate cited in the Federal Reserve Statistical Release Publication G.13(415), published on the first Tuesday of each calendar
month (or such other comparable index as Landlord shall reasonably designate if such rate ceases to be published) plus two (2) percentage points, or (ii) the highest rate permitted by Law. As used in
Section 19.2.1(c), the “worth at the time of award” shall be computed by discounting such amount at the discount rate of the Federal Reserve Bank of San Francisco at the time of award plus 1%. 

19.2.2 Landlord shall have the remedy described in California Civil Code § 1951.4 (lessor may continue lease in effect after
lessee’s breach and abandonment and recover Rent as it becomes due, if lessee has the right to sublet or assign, subject only to reasonable limitations). Accordingly, if Landlord does not elect to terminate this Lease on account of any default
by Tenant, Landlord may, from time to time, without terminating this Lease, enforce all of its rights and remedies hereunder, including the right to recover all Rent as it becomes due. 

19.2.3 Landlord shall at all times have the rights and remedies (which shall be cumulative with each other and cumulative and in addition to
those rights and remedies available under Sections 19.2.1 and 19.2.2, or any Law or other provision hereof), without prior demand or notice except as required by Law, to seek any declaratory, injunctive or other
equitable relief, and specifically enforce this Lease, or restrain or enjoin a violation or breach of any provision hereof. 
 19.3
Efforts to Relet. Unless Landlord provides Tenant with express notice to the contrary, no re-entry, repossession, repair, maintenance, change, alteration, addition, reletting, appointment
of a receiver or other action or omission by Landlord shall (a) be construed as an election by Landlord to terminate this Lease or Tenant’s right to possession, or to accept a surrender of the Premises, or (b) operate to release
Tenant from any of its obligations hereunder. Tenant waives, for Tenant and for all those claiming by, through or under Tenant, California Civil Code § 3275, California Code of Civil Procedure §§ 1174(c) and 1179, and
any existing or future rights to redeem or reinstate, by order or judgment of any court or by any legal process or writ, this Lease or Tenant’s right of occupancy of the Premises after any termination hereof. 

  
 23 

 19.4 Landlord Default. Landlord shall not be in default hereunder
unless it fails to begin within 30 days after notice from Tenant, or fails to pursue with reasonable diligence thereafter, the cure of any breach by Landlord of its obligations hereunder. Before exercising any remedies for a default by
Landlord, Tenant shall give notice and a reasonable time to cure to any Security Holder of which Tenant has been notified. 
 20 LANDLORD
EXCULPATION. Notwithstanding any contrary provision hereof, (a) the liability of the Landlord Parties to Tenant shall be limited to an amount equal to the lesser of (i) Landlord’s interest in the Building, or (ii) the
equity interest Landlord would have in the Building if the Building were encumbered by third-party debt in an amount equal to 80% of the value of the Building (as such value is determined by Landlord); (b) Tenant shall look solely to
Landlord’s interest in the Building for the recovery of any judgment or award against any Landlord Party; (c) no Landlord Party shall have any personal liability for any judgment or deficiency, and Tenant waives and releases such personal
liability on behalf of itself and all parties claiming by, through or under Tenant; and (d) no Landlord Party shall be liable for any injury or damage to, or interference with, Tenant’s business, including loss of profits, loss of rents or
other revenues, loss of business opportunity, loss of goodwill or loss of use, or for any form of special or consequential damage. For purposes of this Section 20, “Landlord’s interest in the
Building” shall include rents paid by tenants, insurance proceeds, condemnation proceeds, and proceeds from the sale of the Building (collectively, “Owner Proceeds”); provided, however, that Tenant shall not be entitled to
recover Owner Proceeds from any Landlord Party (other than Landlord) or any other third party after they have been distributed or paid to such party; provided further, however, that nothing in this sentence shall diminish any right Tenant may have
under Law, as a creditor of Landlord, to initiate or participate in an action to recover Owner Proceeds from a third party on the grounds that such third party obtained such Owner Proceeds when Landlord was, or could reasonably be expected to
become, insolvent or in a transfer that was preferential or fraudulent as to Landlord’s creditors. 
 21 SECURITY DEPOSIT. Concurrently
with its execution and delivery hereof, Tenant shall deposit with Landlord the Security Deposit, if any, as security for Tenant’s performance of its obligations hereunder. If Tenant breaches any provision hereof, Landlord may, at its option,
without limiting its remedies, and after five (5) business days’ prior notice to Tenant (unless this Lease has expired or terminated, in which event such prior notice is not required), apply all or part of the Security Deposit to
cure such breach and compensate Landlord for any loss or damage caused by such breach, including any damage for which recovery may be made under California Civil Code § 1951.2. If Landlord so applies any portion of the Security Deposit,
Tenant, within three (3) days after demand therefor, shall restore the Security Deposit to its original amount. The Security Deposit is not an advance payment of Rent or measure of damages. Any unapplied portion of the Security Deposit shall be
returned to Tenant within 60 days after the latest to occur of (a) the expiration of the Term, (b) Tenant’s surrender of the Premises as required hereunder, or (c) determination of the final Rent due from Tenant. Landlord
shall not be required to keep the Security Deposit separate from its other accounts. 
 22 INTENTIONALLY OMITTED. 

23 COMMUNICATIONS AND COMPUTER LINES. All Lines installed pursuant to this Lease shall be (a) installed in accordance with
Section 7; and (b) clearly marked with adhesive plastic labels (or plastic tags attached to such Lines with wire) to show Tenant’s name, suite number, and the purpose of such Lines (i) every six (6) feet
outside the Premises (including the electrical room risers and any Common Areas), and (ii) at their termination points. Landlord may designate specific contractors for work relating to vertical Lines. Sufficient spare cables and space for
additional cables shall be maintained for other occupants, as reasonably determined by Landlord. Unless otherwise notified by Landlord, Tenant, at its expense and before the expiration or earlier termination hereof, shall remove all Lines and repair
any resulting damage. As used herein, “Lines” means all communications or computer wires and cables serving the Premises, whenever and by whomever installed or paid for, including any such wires or cables installed pursuant to any
prior lease. 

  
 24 

 24 PARKING. Intentionally Omitted. 

25 MISCELLANEOUS. 
 25.1
Notices. No notice, demand, statement, designation, request, consent, approval, election or other communication given hereunder (“Notice”) shall be binding upon either party unless (a) it is in writing;
(b) it is (i) sent by certified or registered mail, postage prepaid, return receipt requested, (ii) delivered by a nationally recognized courier service, or (iii) delivered personally; and (c) it is sent or delivered to the
address set forth in Section 1.10 or 1.11, as applicable, or to such other place (other than a P.O. box) as the recipient may from time to time designate in a Notice to the other party. Any Notice shall be
deemed received on the earlier of the date of actual delivery or the date on which delivery is refused, or, if Tenant is the recipient and has vacated its notice address without providing a new notice address, three (3) business days after the
date the Notice is deposited in the U.S. mail or with a courier service as described above. No provision of this Lease requiring a particular Notice to be in writing shall limit the generality of clause (a) of the first sentence of this
Section 25.1. 
 25.2 Force Majeure. If either party is prevented from performing any
obligation hereunder by any strike, act of God, war, terrorist act, shortage of labor or materials, governmental action, civil commotion or other cause beyond such party’s reasonable control (“Force Majeure”), such obligation
shall be excused during (and any time period for the performance of such obligation shall be extended by) the period of such prevention; provided, however, that this Section 25.2 shall not (a) permit Tenant to hold
over in the Premises after the expiration or earlier termination hereof, or (b) excuse (or extend any time period for the performance of) (i) any obligation to remit money or deliver credit enhancement, (ii) any obligation under
Section 10 or 25.3, or (iii) any of Tenant’s obligations whose breach would interfere with another occupant’s use, occupancy or enjoyment of its premises or the Project or result in any liability on
the part of any Landlord Party. 
 25.3 Representations and Covenants. Tenant represents, warrants and covenants that
(a) Tenant is, and at all times during the Term will remain, duly organized, validly existing and in good standing under the Laws of the state of its formation and qualified to do business in the state of California; (b) neither
Tenant’s execution of nor its performance under this Lease will cause Tenant to be in violation of any agreement or Law; (c) Tenant (and any guarantor hereof) has not, and at no time during the Term will have, (i) made a general
assignment for the benefit of creditors, (ii) filed a voluntary petition in bankruptcy, (iii) suffered (A) the filing by creditors of an involuntary petition in bankruptcy that is not dismissed within 30 days, (B) the
appointment of a receiver to take possession of all or substantially all of its assets, or (C) the attachment or other judicial seizure of all or substantially all of its assets, (iv) admitted in writing its inability to pay its debts as
they come due, or (v) made an offer of settlement, extension or composition to its creditors generally; and (d) no party that (other than through the passive ownership of interests traded on a recognized securities exchange) constitutes,
owns, controls, or is owned or controlled by Tenant, any guarantor hereof or any subtenant of Tenant is, or at any time during the Term will be, (i) in violation of any Laws relating to terrorism or money laundering, or (ii) among the
parties identified on any list compiled pursuant to Executive Order 13224 for the purpose of identifying suspected terrorists or on the most current list published by the U.S. Treasury Department Office of Foreign Assets Control at its official
website, http://www.treas.gov/ofac/tllsdn.pdf or any replacement website or other replacement official publication of such list. 
 25.4
Signs. Landlord shall, at Landlord’s sole cost and expense, include Tenant’s name in any tenant directory located in the lobby on the first floor of the Building. If any part of the Premises is located on a
multi-tenant floor, Landlord, at Landlord’s cost, shall provide identifying suite signage for Tenant comparable to that provided by Landlord on similar floors in the Building. Tenant may not install (a) any signs outside the Premises, or
(b) without Landlord’s prior consent in its sole and absolute discretion, any signs, window coverings, blinds or similar items that are visible from outside the Premises. 

  
 25 

 25.5 Supplemental HVAC. If the Premises are served by any supplemental
HVAC unit (a “Unit”), then (a) Tenant shall pay the costs of all electricity consumed in the Unit’s operation, together with the cost of installing a meter to measure such consumption; (b) Tenant, at its expense,
shall (i) operate and maintain the Unit in compliance with all applicable Laws and such reasonable rules and procedures as Landlord may impose; (ii) keep the Unit in as good working order and condition as existed upon installation (or, if
later, when Tenant took possession of the Premises), subject to normal wear and tear and damage resulting from Casualty; (iii) maintain in effect, with a contractor reasonably approved by Landlord, a contract for the maintenance and repair of
the Unit, which contract shall require the contractor, at least once every three (3) months, to inspect the Unit and provide to Tenant a report of any defective conditions, together with any recommendations for maintenance, repair or
parts-replacement; (iv) follow all reasonable recommendations of such contractor; and (v) promptly provide to Landlord a copy of such contract and each report issued thereunder; (c) the Unit shall become Landlord’s property upon
installation and without compensation to Tenant; provided, however, that upon Landlord’s request at the expiration or earlier termination hereof, Tenant, at its expense, shall remove the Unit and repair any resulting damage (and if Tenant fails
to timely perform such work, Landlord may do so at Tenant’s expense); (d) the Unit shall be deemed (i) a Leasehold Improvement (except for purposes of Section 8), and (ii) for purposes of
Section 11, part of the Premises; (e) if the Unit exists on the date of mutual execution and delivery hereof, Tenant accepts the Unit in its “as is” condition, without representation or warranty as to
quality, condition, fitness for use or any other matter; (f) if the Unit connects to the Building’s condenser water loop (if any), then Tenant shall pay to Landlord, as Additional Rent, Landlord’s standard one-time fee for such connection and Landlord’s standard monthly per-ton usage fee; and (g) if any portion of the Unit is located on the roof, then
(i) Tenant’s access to the roof shall be subject to such reasonable rules and procedures as Landlord may impose; (ii) Tenant shall maintain the affected portion of the roof in a clean and orderly condition and shall not interfere with
use of the roof by Landlord or any other tenants or licensees; and (iii) Landlord may relocate the Unit and/or temporarily interrupt its operation, without liability to Tenant, as reasonably necessary to maintain and repair the roof or
otherwise operate the Building. 
 25.6 Attorneys’ Fees. In any action or proceeding between the parties, including
any appellate or alternative dispute resolution proceeding, the prevailing party may recover from the other party all of its costs and expenses in connection therewith, including reasonable attorneys’ fees and costs. Tenant shall pay all
reasonable attorneys’ fees and other fees and costs that Landlord incurs in interpreting or enforcing this Lease or otherwise protecting its rights hereunder (a) where Tenant has failed to pay Rent when due, or (b) in any bankruptcy
case, assignment for the benefit of creditors, or other insolvency, liquidation or reorganization proceeding involving Tenant or this Lease. 

25.7 Brokers. Tenant represents to Landlord that it has dealt only with Tenant’s Broker as its broker in connection
with this Lease. Tenant shall indemnify, defend, and hold Landlord harmless from all claims of any brokers, other than Tenant’s Broker, claiming to have represented Tenant in connection with this Lease. Landlord shall indemnify, defend and hold
Tenant harmless from all claims of any brokers, including Landlord’s Broker, claiming to have represented Landlord in connection with this Lease. Tenant acknowledges that any Affiliate of Landlord that is involved in the negotiation of this
Lease is representing only Landlord, and that any assistance rendered by any agent or employee of such Affiliate in connection with this Lease or any subsequent amendment or other document related hereto has been or will be rendered as an
accommodation to Tenant solely in furtherance of consummating the transaction on behalf of Landlord, and not as agent for Tenant. 

  
 26 

 25.8 Governing Law; WAIVER OF TRIAL BY JURY. This Lease shall be
construed and enforced in accordance with the Laws of the State of California. THE PARTIES WAIVE, TO THE FULLEST EXTENT PERMITTED BY LAW, THE RIGHT TO TRIAL BY JURY IN ANY LITIGATION ARISING OUT OF OR RELATING TO THIS LEASE, THE RELATIONSHIP OF
LANDLORD AND TENANT, TENANT’S USE OR OCCUPANCY OF THE PREMISES, AND/OR ANY CLAIM FOR INJURY OR DAMAGE OR ANY EMERGENCY OR STATUTORY REMEDY. 

25.9 Waiver of Statutory Provisions. Each party waives California Civil Code §§ 1932(2), 1933(4) and
1945. Tenant waives (a) any rights under (i) California Civil Code §§ 1932(1), 1941, 1942, 1950.7 or any similar Law, or (ii) California Code of Civil Procedure §§ 1263.260 or 1265.130; and
(b) any right to terminate this Lease under California Civil Code § 1995.310. 
 25.10 Interpretation. As
used herein, the capitalized term “Section” refers to a section hereof unless otherwise specifically provided herein. As used in this Lease, the terms “herein,” “hereof,” “hereto” and “hereunder”
refer to this Lease and the term “include” and its derivatives are not limiting. Any reference herein to “any part” or “any portion” of the Premises, the Property or any other property shall be construed to refer to all
or any part of such property. As used herein in connection with insurance, the term “deductible” includes self-insured retention. Wherever this Lease prohibits either party from engaging in any particular conduct, this Lease shall be
deemed also to require such party to cause each of its employees and agents (and, in the case of Tenant, each of its licensees, invitees and subtenants, and any other party claiming by, through or under Tenant) to refrain from engaging in such
conduct. Wherever this Lease requires Landlord to provide a customary service or to act in a reasonable manner (whether in incurring an expense, establishing a rule or regulation, providing an approval or consent, or performing any other act), this
Lease shall be deemed also to provide that whether such service is customary or such conduct is reasonable shall be determined by reference to the practices of owners of buildings (“Comparable Buildings”) that (i) are
comparable to the Building in size, age, class, quality and location, and (ii) at Landlord’s option, have been, or are being prepared to be, certified under the U.S. Green Building Council’s Leadership in Energy and Environmental
Design (LEED) rating system or a similar rating system. Tenant waives the benefit of any rule that a written agreement shall be construed against the drafting party. 

25.11 Entire Agreement. This Lease sets forth the entire agreement between the parties relating to the subject matter
hereof and supersedes any previous agreements (none of which shall be used to interpret this Lease). Tenant acknowledges that in entering into this Lease it has not relied upon any representation, warranty or statement, whether oral or written, not
expressly set forth herein. This Lease can be modified only by a written agreement signed by both parties. 
 25.12
Other. Landlord, at its option, may cure any Default, without waiving any right or remedy or releasing Tenant from any obligation, in which event Tenant shall pay Landlord, upon demand, the cost of such cure. If any provision
hereof is void or unenforceable, no other provision shall be affected. Submission of this instrument for examination or signature by Tenant does not constitute an option or offer to lease, and this instrument is not binding until it has been
executed and delivered by both parties. If Tenant is comprised of two or more parties, their obligations shall be joint and several. Time is of the essence with respect to the performance of every provision hereof in which time of performance is a
factor. So long as Tenant performs its obligations hereunder, Tenant shall have peaceful and quiet possession of the Premises against any party claiming by, through or under Landlord, subject to the terms hereof. Landlord may transfer its interest
herein, in which event (a) to the extent the transferee assumes in writing Landlord’s obligations arising hereunder after the date of such transfer (including the return of any Security Deposit), Landlord shall be released from, and Tenant
shall look solely to the transferee for the performance of, such obligations; and (b) Tenant shall attorn to the transferee. If Tenant (or any party claiming by, through or under Tenant) pays directly to the provider for any energy consumed at
the Property, Tenant, promptly upon request, shall deliver to Landlord (or, at Landlord’s option, execute and 

  
 27 

 
deliver to Landlord an instrument enabling Landlord to obtain from such provider) any data about such consumption that Landlord, in its reasonable judgment, is required to disclose to a
prospective buyer, tenant, Security Holder or governmental agency under applicable Law. Landlord reserves all rights not expressly granted to Tenant hereunder, including the right to make alterations to the Project. No rights to any view or to light
or air over any property are granted to Tenant hereunder. The expiration or earlier termination hereof shall not relieve either party of any obligation that accrued before, or continues to accrue after, such expiration or termination. This Lease may
be executed in counterparts. 
 [SIGNATURES ARE ON THE FOLLOWING PAGE] 

  
 28 

 IN WITNESS WHEREOF, Landlord and Tenant have caused this Lease to be executed the day and
date first above written. 
  

			
	 LANDLORD:
  

BRE MARKET STREET PROPERTY OWNER LLC,
 a Delaware
limited liability company

		
	By:	 	 /s/ Spencer Rose

	Name:	 	Spencer Rose
	Title:	 	Managing Director
	
	 TENANT:
  

MEDALLIA, INC.,
 a Delaware
corporation

		
	By:	 	 /s/ Roxanne Oulman

	Name:	 	Roxanne Oulman
	Title:	 	CFO

  
 29 

 EXHIBIT A 

MARKET CENTER 

OUTLINE OF PREMISES 

See Attached 

  

 

 
 SCALE: 3/32” =1’0” 575 MARKET STREET, SUITE 1850 & SUITE 1875 - SPEC SUITE RENOVATION REVISED PREMISES EXHIBIT
03/19/19 EX-01 REVISED EQ Office tef DESIGN 

 EXHIBIT B 

MARKET CENTER 

WORK LETTER 
 As
used in this Exhibit B (this “Work Letter”), the following terms shall have the following meanings: 
  

	 	(i)	 “Tenant Improvements” means all improvements to be constructed in the Premises pursuant to
this Work Letter; 

  

	 	(ii)	 “Tenant Improvement Work” means the construction of the Tenant Improvements, together with any
related work (including demolition) that is necessary to construct the Tenant Improvements; 

 1 COST OF TENANT IMPROVEMENT WORK.
Except as provided in Section 2.7 below, the Tenant Improvement Work shall be performed at Landlord’s expense. 
 2
ARCHITECTURAL PLANS. 
 2.1 Selection of Architect. Landlord shall retain the architect/space planner of Landlord’s
choice (the “Architect”) to prepare the Architectural Drawings (defined in Section 2.5 below). 

2.2 [Intentionally Omitted.] 
 2.3
[Intentionally Omitted.] 
 2.4 [Intentionally Omitted.] 

2.5 Approved Construction Drawings. Landlord and Tenant acknowledge that they have approved the final architectural and
engineering working drawings for the Tenant Improvement Work described in the drawings, prepared by TEF Architecture and dated November 7, 2018 (the “Approved Construction Drawings”). 

2.6 [Intentionally Omitted.] 
 3 CONSTRUCTION.

 3.1 Contractor. Landlord shall retain a contractor of its choice (the “Contractor”) to perform
the Tenant Improvement Work. In addition, Landlord may select and/or approve of any subcontractors, mechanics and materialmen used in connection with the performance of the Tenant Improvement Work. 

3.2 Permits. Landlord shall cause the Contractor to submit the Approved Construction Drawings to the appropriate municipal
authorities and otherwise apply for and obtain from such authorities all permits necessary for the Contractor to complete the Tenant Improvement Work (the “Permits”). 

  
 Exhibit B 

1 

 3.3 Construction. 

3.3.1 Performance of Tenant Improvement Work. Landlord shall cause the Contractor to perform the Tenant Improvement Work in accordance
with the Approved Construction Drawings. 
 3.3.2 Contractor’s Warranties. Tenant waives all claims against Landlord relating to
any defects in the Tenant Improvements; provided, however, that if, within 30 days after substantial completion of the Tenant Improvement Work, Tenant provides notice to Landlord of any non-latent defect
in the Tenant Improvements, or if, within 11 months after substantial completion of the Tenant Improvement Work, Tenant provides notice to Landlord of any latent defect in the Tenant Improvements, then Landlord shall promptly cause such defect
to be corrected. 
 4 COMPLIANCE WITH LAW; SUITABILITY FOR TENANT’S USE. Landlord shall (a) cause the Approved
Construction Drawings, other than any Tenant Revision (defined below), to comply with law, and (b) cause the Architect or the Contractor, as applicable, to use the Required Level of Care (defined below) to cause any Tenant Revision to comply
with law; provided, however, that Landlord shall not be responsible for any violation of law resulting from any particular use of the Premises (as distinguished from general office use). As used herein, “Tenant Revision” means any
revision to the Approved Construction Drawings made or requested by Tenant. As used herein, “Required Level of Care” means the level of care that reputable architects and engineers customarily use to cause architectural and
engineering plans, drawings and specifications to comply with law where such plans, drawings and specifications are prepared for spaces in buildings comparable in quality to the Building. Except as provided above in this
Section 4, Tenant shall be responsible for ensuring that the Approved Construction Drawings are suitable for Tenant’s use of the Premises and comply with law, and neither the preparation of any of the Approved
Construction Drawings by the Architect or the Contractor nor Landlord’s approval of the Approved Construction Drawings shall relieve Tenant from such responsibility. To the extent that either party (the “Responsible Party”) is
responsible under this Section 4 for causing the Approved Construction Drawings to comply with law, the Responsible Party may contest any alleged violation of law in good faith, including by seeking a waiver or deferment of
compliance, asserting any defense allowed by law, and exercising any right of appeal (provided that the other party incurs no liability as a result of such contest and that, after completing such contest, the Responsible Party makes any modification
to the Approved Construction Drawings or any alteration to the Premises that is necessary to comply with any final order or judgment). 
 5 COMPLETION.

 5.1 Substantial Completion. For purposes of Section 1.3.2 of this Lease, and subject to
Section 5.2 below, the Tenant Improvement Work shall be deemed to be “Substantially Complete” on the later of (a) the date of completion of the Tenant Improvement Work pursuant to the Approved
Construction Drawings (as reasonably determined by Landlord), with the exception of any details of construction, mechanical adjustment or any other similar matter the non-completion of which does not
materially interfere with Tenant’s use of the Premises, or (b) the date on which Landlord receives from the appropriate governmental authorities, with respect to the Tenant Improvement Work, all approvals necessary for the occupancy of the
Premises. 
 5.2 Tenant Cooperation; Tenant Delay. Tenant shall use reasonable efforts to cooperate with Landlord, the
Architect, the Contractor, and Landlord’s other consultants to complete all phases of the plans and specifications for the Tenant Improvement Work, obtain the Permits and complete the Tenant Improvement Work as soon as possible, and Tenant
shall meet with Landlord, in accordance with a schedule determined by Landlord, to discuss the parties’ progress. Without limiting the foregoing, if (i) the Tenant Improvements include the installation of electrical connections for
furniture stations to be installed by Tenant, and (ii) any electrical or other portions of such furniture stations must be installed in 

  
 Exhibit B 

2 

 
order for Landlord to obtain any governmental approval required for occupancy of the Premises, then (x) Tenant, upon five (5) business days’ notice from Landlord, shall promptly
install such portions of such furniture stations in accordance with Sections 7.2 and 7.3 of this Lease, and (y) during the period of Tenant’s entry into the Premises for the purpose of
performing such installation, all of Tenant’s obligations under this Lease relating to the Premises shall apply, except for the obligation to pay Monthly Rent. In addition, without limiting the foregoing, if the Substantial Completion of the
Tenant Improvement Work is delayed (a “Tenant Delay”) as a result of (a) any failure of Tenant to timely approve any other matter requiring Tenant’s approval; (b) any breach by Tenant of this Work Letter or this
Lease; (c) any request by Tenant for any revision to, or for Landlord’s approval of any revision to, any portion of the Approved Construction Drawings (except to the extent that such delay results from a breach by Landlord of its
obligations under Section 2.7 above); (d) any requirement of Tenant for materials, components, finishes or improvements that are not available in a commercially reasonable time given the anticipated date of Substantial
Completion of the Tenant Improvement Work as set forth in this Lease; (e) any change to the base, shell or core of the Premises or Building required by the Approved Construction Drawings; or (f) any other act or omission of Tenant or any
of its agents, employees or representatives, then, notwithstanding any contrary provision of this Lease, and regardless of when the Tenant Improvement Work is actually Substantially Completed, the Tenant Improvement Work shall be deemed to be
Substantially Completed on the date on which the Tenant Improvement Work would have been Substantially Completed if no such Tenant Delay had occurred. Notwithstanding the foregoing, Landlord shall not be required to tender possession of the Premises
to Tenant before the Tenant Improvement Work has been Substantially Completed, as determined without giving effect to the preceding sentence. 
 6
MISCELLANEOUS. Notwithstanding any contrary provision of this Lease, if Tenant defaults under this Lease before the Tenant Improvement Work is completed, Landlord’s obligations under this Work Letter shall be excused until such default is
cured and Tenant shall be responsible for any resulting delay in the completion of the Tenant Improvement Work. This Work Letter shall not apply to any space other than the Premises. 

[REMAINDER OF PAGE INTENTIONALLY LEFT BLANK] 

  
 Exhibit B 

3 

 EXHIBIT C 

MARKET CENTER 

CONFIRMATION LETTER 

                    ,
20     
  

	To:	
                       
          

	 	
                       
          

	 	
                       
          

	 	
                       
          

 Re: Office Lease (the “Lease”) dated
______________, 20____, between ___________________________, a ________________________ (“Landlord”), and ______________________________, a _____________________ (“Tenant”), concerning Suite _____ on the _______
floor of the building located at ___________________, _____________________ California. 
 Lease ID: _____________________________ 

Business Unit Number: __________________ 
 Dear
_________________: 
 In accordance with the Lease, Tenant accepts possession of the Premises and confirms the following: 

 

	 	1.	 The Commencement Date is _____________ and the Expiration Date is _______________. 

 

	 	2.	 The exact number of rentable square feet within the Premises is _________ square feet, subject to
Section 2.1.1 of the Lease. 

  

	 	3.	 Tenant’s Share, based upon the exact number of rentable square feet within the Premises, is ____________%,
subject to Section 2.1.1 of the Lease. 

 Please acknowledge the foregoing by signing all three (3) counterparts
of this letter in the space provided below and returning two (2) fully executed counterparts to my attention. Please note that, pursuant to Section 2.1.1 of the Lease, if Tenant fails to execute and return (or, by notice to Landlord,
reasonably object to) this letter within five (5) days after receiving it, Tenant shall be deemed to have executed and returned it without exception. 

  
 Exhibit C 

1 

 
			
	 “Landlord”:

	
	 _______________________________,

	
a________________________

			
		
	 By:
	 	
                     

	 Name:
	 	              

	 Title:
	 	              

  

			
	 Agreed and Accepted as of
                , 20     .

	
	“Tenant”:
	
	 _______________________________,

	
a________________________

			
		
	 By:
	 	
                     

	 Name:
	 	              

	 Title:
	 	              

  
 Exhibit C 

2 

 EXHIBIT D 

MARKET CENTER 

RULES AND REGULATIONS 

Tenant shall comply with the following rules and regulations (as modified or supplemented from time to time, the “Rules and
Regulations”). Landlord shall not be responsible to Tenant for the nonperformance of any of the Rules and Regulations by any other tenants or occupants of the Project. In the event of any conflict between the Rules and Regulations and the
other provisions of this Lease, the latter shall control. 
 1. Tenant shall not alter any lock or install any new or additional locks or
bolts on any doors or windows of the Premises without obtaining Landlord’s prior consent. Tenant shall bear the cost of any lock changes or repairs required by Tenant. Two (2) keys will be furnished by Landlord for the Premises, and any
additional keys required by Tenant must be obtained from Landlord at a reasonable cost to be established by Landlord. Upon the termination of this Lease, Tenant shall restore to Landlord all keys of stores, offices and toilet rooms furnished to or
otherwise procured by Tenant, and if any such keys are lost, Tenant shall pay Landlord the cost of replacing them or of changing the applicable locks if Landlord deems such changes necessary. 

2. All doors opening to public corridors shall be kept closed at all times except for normal ingress and egress to the Premises. 

3. Landlord may close and keep locked all entrance and exit doors of the Building during such hours as are customary for Comparable Buildings.
Tenant shall cause its employees, agents, contractors, invitees and licensees who use Building doors during such hours to securely close and lock them after such use. Any person entering or leaving the Building during such hours, or when the
Building doors are otherwise locked, may be required to sign the Building register, and access to the Building may be refused unless such person has proper identification or has a previously arranged access pass. Landlord will furnish passes to
persons for whom Tenant requests them. Tenant shall be responsible for all persons for whom Tenant requests passes and shall be liable to Landlord for all acts of such persons. Landlord and its agents shall not be liable for damages for any error
with regard to the admission or exclusion of any person to or from the Building. In case of invasion, mob, riot, public excitement or other commotion, Landlord may prevent access to the Building or the Project during the continuance thereof by any
means it deems appropriate for the safety and protection of life and property. 
 4. No furniture, freight or equipment shall be brought into
the Building without prior notice to Landlord. All moving activity into or out of the Building shall be scheduled with Landlord and done only at such time and in such manner as Landlord designates. Landlord may prescribe the weight, size and
position of all safes and other heavy property brought into the Building and also the times and manner of moving the same in and out of the Building. Safes and other heavy objects shall, if considered necessary by Landlord, stand on supports of such
thickness as is necessary to properly distribute the weight. Landlord will not be responsible for loss of or damage to any such safe or property. Any damage to the Building, its contents, occupants or invitees resulting from Tenant’s moving or
maintaining any such safe or other heavy property shall be the sole responsibility and expense of Tenant (notwithstanding Sections 7 and 10.4 of this Lease). 

5. No furniture, packages, supplies, equipment or merchandise will be received in the Building or carried up or down in the elevators, except
between such hours, in such specific elevator and by such personnel as shall be designated by Landlord. 

  
 Exhibit D 

1 

 6. Employees of Landlord shall not perform any work or do anything outside their regular
duties unless under special instructions from Landlord. 
 7. No sign, advertisement, notice or handbill shall be exhibited, distributed,
painted or affixed by Tenant on any part of the Premises or the Building without Landlord’s prior consent. Tenant shall not disturb, solicit, peddle or canvass any occupant of the Project. 

8. The toilet rooms, urinals, wash bowls and other apparatus shall not be used for any purpose other than that for which they were constructed,
and no foreign substance shall be thrown therein. Notwithstanding Sections 7 and 10.4 of this Lease, Tenant shall bear the expense of any breakage, stoppage or damage resulting from any violation of this rule by
Tenant or any of its employees, agents, contractors, invitees or licensees. 
 9. Tenant shall not overload the floor of the Premises, or
mark, drive nails or screws or drill into the partitions, woodwork or drywall of the Premises, or otherwise deface the Premises, without Landlord’s prior consent. Tenant shall not purchase bottled water, ice, towel, linen, maintenance or other
like services from any person not approved by Landlord. 
 10. Except for vending machines intended for the sole use of Tenant’s
employees and invitees, no vending machine or machines other than fractional horsepower office machines shall be installed, maintained or operated in the Premises without Landlord’s prior consent. 

11. Tenant shall not, without Landlord’s prior consent, use, store, install, disturb, spill, remove, release or dispose of, within or
about the Premises or any other portion of the Project, any asbestos-containing materials, any solid, liquid or gaseous material now or subsequently considered toxic or hazardous under the provisions of 42 U.S.C. Section 9601 et seq. or any
other applicable environmental Law, or any inflammable, explosive or dangerous fluid or substance; provided, however, that Tenant may use, store and dispose of such substances in such amounts as are typically found in similar premises used for
general office purposes provided that such use, storage and disposal does not damage any part of the Premises, Building or Project and is performed in a safe manner and in accordance with all Laws. Tenant shall comply with all Laws pertaining to and
governing the use of such materials by Tenant and shall remain solely liable for the costs of abatement and removal. No burning candle or other open flame shall be ignited or kept by Tenant in or about the Premises, Building or Project. 

12. Tenant shall not, without Landlord’s prior consent, use any method of heating or air conditioning other than that supplied by
Landlord. 
 13. Tenant shall not use or keep any foul or noxious gas or substance in or on the Premises, or occupy or use the Premises in a
manner offensive or objectionable to Landlord or other occupants of the Project by reason of noise, odors or vibrations, or interfere with other occupants or those having business therein, whether by the use of any musical instrument, radio, CD
player or otherwise. Tenant shall not throw anything out of doors, windows or skylights or down passageways. 
 14. Tenant shall not bring
into or keep within the Project, the Building or the Premises any animals (other than service animals), birds, aquariums, or, except in areas designated by Landlord, bicycles or other vehicles. 

15. No cooking shall be done in the Premises, nor shall the Premises be used for lodging, for living quarters or sleeping apartments, or for
any improper, objectionable or immoral purposes. Notwithstanding the foregoing, Underwriters’ laboratory-approved equipment and microwave ovens may be used in the Premises for heating food and brewing coffee, tea, hot chocolate and similar
beverages for employees and invitees, provided that such use complies with all Laws. 

  
 Exhibit D 

2 

 16. The Premises shall not be used for manufacturing or for the storage of merchandise
except to the extent such storage may be incidental to the Permitted Use. Tenant shall not occupy the Premises as an office for a messenger-type operation or dispatch office, public stenographer or typist, or for the manufacture or sale of liquor,
narcotics or tobacco, or as a medical office, a barber or manicure shop, or an employment bureau, without Landlord’s prior consent. Tenant shall not engage or pay any employees in the Premises except those actually working for Tenant in the
Premises, nor advertise for laborers giving an address at the Premises. 
 17. Landlord may exclude from the Project any person who, in
Landlord’s judgment, is intoxicated or under the influence of liquor or drugs, or who violates any of these Rules and Regulations. 

18. Tenant shall not loiter in or on the entrances, corridors, sidewalks, lobbies, courts, halls, stairways, elevators, vestibules or any
Common Areas for the purpose of smoking tobacco products or for any other purpose, nor in any way obstruct such areas, and shall use them only as a means of ingress and egress for the Premises. 

19. Tenant shall not waste electricity, water or air conditioning, shall cooperate with Landlord to ensure the most effective operation of the
Building’s heating and air conditioning system, and shall not attempt to adjust any controls. Tenant shall install and use in the Premises only ENERGY STAR rated equipment, where available. Tenant shall use recycled paper in the Premises to the
extent consistent with its business requirements. 
 20. Tenant shall store all its trash and garbage inside the Premises. No material shall
be placed in the trash or garbage receptacles if, under Law, it may not be disposed of in the ordinary and customary manner of disposing of trash and garbage in the vicinity of the Building. All trash, garbage and refuse disposal shall be made only
through entryways and elevators provided for such purposes at such times as Landlord shall designate. Tenant shall comply with Landlord’s recycling program, if any. 

21. Tenant shall comply with all safety, fire protection and evacuation procedures and regulations established by Landlord or any governmental
agency. 
 22. Any persons employed by Tenant to do janitorial work (a) shall be subject to Landlord’s prior consent;
(b) shall not, in Landlord’s reasonable judgment, disturb labor harmony with any workforce or trades engaged in performing other work or services at the Project; and (c) while in the Building and outside of the Premises, shall
be subject to the control and direction of the Building manager (but not as an agent or employee of such manager or Landlord), and Tenant shall be responsible for all acts of such persons. 

23. No awning or other projection shall be attached to the outside walls of the Building without Landlord’s prior consent. Other than
Landlord’s Building-standard window coverings, no curtains, blinds, shades or screens shall be attached to or hung in, or used in connection with, any window or door of the Premises. All electrical ceiling fixtures hung in the Premises or
spaces along the perimeter of the Building must be fluorescent and/or of a quality, type, design and a warm white bulb color approved in advance by Landlord. Neither the interior nor exterior of any windows shall be coated or otherwise sunscreened
without Landlord’s prior consent. Tenant shall abide by Landlord’s regulations concerning the opening and closing of window coverings. 

24. Tenant shall not obstruct any sashes, sash doors, skylights, windows or doors that reflect or admit light or air into the halls,
passageways or other public places in the Building, nor shall Tenant place any bottles, parcels or other articles on the windowsills. 
 25.
Tenant must comply with requests by Landlord concerning the informing of their employees of items of importance to the Landlord. 

  
 Exhibit D 

3 

 26. Tenant must comply with the State of California “No Smoking” law set forth in
California Labor Code Section 6404.5 and with any local “No Smoking” ordinance that is not superseded by such law. 
 27.
Tenant shall cooperate in any reasonable safety or security program developed by Landlord or required by Law. 
 28. All office equipment of
an electrical or mechanical nature shall be placed by Tenant in the Premises in settings approved by Landlord, to absorb or prevent any vibration, noise or annoyance. 

29. Tenant shall not use any hand trucks except those equipped with rubber tires and rubber side guards. 

30. No auction, liquidation, fire sale,
going-out-of-business or bankruptcy sale shall be conducted in the Premises without Landlord’s prior consent. 

31. Tenant shall not (a) use any name of the Building or Project for any purpose other than to identify the address of the business to be
conducted by Tenant in the Premises, (b) use any image of the Building or Project in any advertising or other publicity without Landlord’s prior consent, or (c) use any name or image of the Building or Project in any manner that would
infringe any trade name, trade mark, copyright or similar right of Landlord or any third party in or to any name or image of the Building or Project. Without limiting the foregoing, Tenant shall not, in any signage displayed at the Building or
Project, on its website, or in any other advertising or promotional material, identify, describe, or refer to itself or its business as “[Tenant’s name or trade name] [name of Building or Project]” or “[Tenant’s name or
trade name] At [name of Building or Project].” 
 Landlord may from time to time modify or supplement these Rules and Regulations in a
manner that, in Landlord’s reasonable judgment, is appropriate for the management, safety, care and cleanliness of the Premises, the Building, the Common Areas and the Project, for the preservation of good order therein, and for the convenience
of other occupants and tenants thereof, provided that no such modification or supplement shall materially reduce Tenant’s rights or materially increase Tenant’s obligations hereunder. Landlord may waive any of these Rules and Regulations
for the benefit of any tenant, but no such waiver shall be construed as a waiver of such Rule and Regulation in favor of any other tenant nor prevent Landlord from thereafter enforcing such Rule and Regulation against any tenant. Notwithstanding the
foregoing, no rule that is added to the initial Rules and Regulations shall be enforced against Tenant in a manner that unreasonably discriminates in favor of any other similarly situated tenant. 

[REMAINDER OF PAGE INTENTIONALLY LEFT BLANK] 

  
 Exhibit D 

4 

 EXHIBIT E 

MARKET CENTER 

JUDICIAL REFERENCE 

IF THE JURY-WAIVER PROVISIONS OF SECTION 25.8 OF THIS LEASE ARE NOT ENFORCEABLE UNDER CALIFORNIA LAW, THE PROVISIONS
SET FORTH BELOW SHALL APPLY. 
 It is the desire and intention of the parties to agree upon a mechanism and procedure under which
controversies and disputes arising out of this Lease or related to the Premises will be resolved in a prompt and expeditious manner. Accordingly, except with respect to actions for unlawful or forcible detainer or with respect to the prejudgment
remedy of attachment, any action, proceeding or counterclaim brought by either party hereto against the other (and/or against its officers, directors, employees, agents or subsidiaries or affiliated entities) on any matters arising out of or in any
way connected with this Lease, Tenant’s use or occupancy of the Premises and/or any claim of injury or damage, whether sounding in contract, tort, or otherwise, shall be heard and resolved by a referee under the provisions of the California
Code of Civil Procedure, Sections 638 — 645.1, inclusive (as same may be amended, or any successor statute(s) thereto) (the “Referee Sections”). Any fee to initiate the judicial reference proceedings and all fees charged and
costs incurred by the referee shall be paid by the party initiating such procedure (except that if a reporter is requested by either party, then a reporter shall be present at all proceedings where requested and the fees of such reporter –
except for copies ordered by the other parties – shall be borne by the party requesting the reporter); provided however, that allocation of the costs and fees, including any initiation fee, of such proceeding shall be ultimately determined in
accordance with Section 25.6 of this Lease. The venue of the proceedings shall be in the county in which the Premises are located. Within 10 days of receipt by any party of a request to resolve any dispute or
controversy pursuant to this Exhibit E, the parties shall agree upon a single referee who shall try all issues, whether of fact or law, and report a finding and judgment on such issues as required by
the Referee Sections. If the parties are unable to agree upon a referee within such 10-day period, then any party may thereafter file a lawsuit in the county in which the Premises are located for the purpose
of appointment of a referee under the Referee Sections. If the referee is appointed by the court, the referee shall be a neutral and impartial retired judge with substantial experience in the relevant matters to be determined, from Jams/Endispute,
Inc., ADR Services, Inc. or a similar mediation/arbitration entity approved by each party in its sole and absolute discretion. The proposed referee may be challenged by any party for any of the grounds listed in the Referee Sections. The
referee shall have the power to decide all issues of fact and law and report his or her decision on such issues, and to issue all recognized remedies available at law or in equity for any cause of action that is before the referee, including an
award of attorneys’ fees and costs in accordance with this Lease. The referee shall not, however, have the power to award punitive damages, nor any other damages that are not permitted by the express provisions of this Lease, and the parties
waive any right to recover any such damages. The parties may conduct all discovery as provided in the California Code of Civil Procedure, and the referee shall oversee discovery and may enforce all discovery orders in the same manner as any trial
court judge, with rights to regulate discovery and to issue and enforce subpoenas, protective orders and other limitations on discovery available under California Law. The reference proceeding shall be conducted in accordance with California Law
(including the rules of evidence), and in all regards, the referee shall follow California Law applicable at the time of the reference proceeding. The parties shall promptly and diligently cooperate with one another and the referee, and shall
perform such acts as may be necessary to obtain a prompt and expeditious resolution of the dispute or controversy in accordance with the terms of this Exhibit E. In this regard, the parties agree that
the parties and the referee shall use best efforts to ensure that (a) discovery be conducted for a period no longer than six (6) 

  
 Exhibit E 

1 

 
months from the date the referee is appointed, excluding motions regarding discovery, and (b) a trial date be set within nine (9) months of the date the referee is appointed. In
accordance with Section 644 of the California Code of Civil Procedure, the decision of the referee upon the whole issue must stand as the decision of the court, and upon the filing of the statement of decision with the clerk of the court, or
with the judge if there is no clerk, judgment may be entered thereon in the same manner as if the action had been tried by the court. Any decision of the referee and/or judgment or other order entered thereon shall be appealable to the same extent
and in the same manner that such decision, judgment, or order would be appealable if rendered by a judge of the superior court in which venue is proper hereunder. The referee shall in his/her statement of decision set forth his/her findings of fact
and conclusions of law. The parties intend this general reference agreement to be specifically enforceable in accordance with the Code of Civil Procedure. Nothing in this Exhibit E shall prejudice the
right of any party to obtain provisional relief or other equitable remedies from a court of competent jurisdiction as shall otherwise be available under the Code of Civil Procedure and/or applicable court rules. 

  
 Exhibit E 

2 

 EXHIBIT F 

MARKET CENTER 

ADDITIONAL PROVISIONS 
  

	1.	 California Civil Code Section 1938. Pursuant to
California Civil Code § 1938(a), Landlord hereby states that the Premises have not undergone inspection by a Certified Access Specialist (CASp) (defined in California Civil Code § 55.52). Accordingly, pursuant to California Civil
Code § 1938(e), Landlord hereby further states as follows: 

 A Certified Access Specialist (CASp) can inspect
the subject premises and determine whether the subject premises comply with all of the applicable construction-related accessibility standards under state law. Although state law does not require a CASp inspection of the subject premises, the
commercial property owner or lessor may not prohibit the lessee or tenant from obtaining a CASp inspection of the subject premises for the occupancy or potential occupancy of the lessee or tenant, if requested by the lessee or tenant. The parties
shall mutually agree on the arrangements for the time and manner of the CASp inspection, the payment of the fee for the CASp inspection, and the cost of making any repairs necessary to correct violations of construction-related accessibility
standards within the premises. 
 In accordance with the foregoing, Landlord and Tenant agree that if Tenant obtains a CASp inspection of the
Premises, then Tenant shall pay (i) the fee for such inspection, and (ii) except as may be otherwise expressly provided in this Lease, the cost of making any repairs necessary to correct violations of construction-related accessibility
standards within the Premises. 
  

	2.	 Asbestos Notification. Tenant acknowledges that it has received the asbestos
notification letter attached to this Lease as Exhibit G, disclosing the existence of asbestos in the Building. Tenant agrees to comply with the California “Connelly Act” and other applicable
laws, including by providing copies of Landlord’s asbestos notification letter to all of Tenant’s “employees” and “owners”, as those terms are defined in the Connelly Act and other applicable laws.

  

	3.	 Early Entry. Tenant may enter the Premises before the Commencement Date (but not
before the date that Landlord reasonably estimates will occur fourteen (14) days before the Commencement Date), solely for the purpose of installing telecommunications and data cabling, equipment, furnishings and other personal property in the
Premises. Other than the obligation to pay Base Rent and Tenant’s Share of any Expense Excess or Tax Excess, all of Tenant’s obligations hereunder shall apply during any period of such early entry. Notwithstanding the foregoing, Landlord
may limit, suspend or terminate Tenant’s rights to enter the Premises pursuant to this Section 3 if Landlord reasonably determines that such entry is endangering individuals working in the Premises or is delaying
completion of the Tenant Improvement Work (defined in Exhibit B). 

  
 Exhibit F 

1 

	4.	 General Use Allowance. Landlord shall provide Tenant with a
one-time allowance, in the amount of $122,670.00 (the “General Use Allowance”), to be applied toward payment of the reasonable costs of any initial improvements to the Premises
performed by Tenant in accordance with the terms of this the Lease. The General Use Allowance shall be disbursed by Landlord to Tenant within 30 days after the latest of (i) the completion (in accordance with any applicable approved plans
and specifications) of the work described therein; (ii) Landlord’s receipt of (A) copies of all third-party contracts (including change orders) pursuant to which such work has been performed, and (B) paid invoices from all
parties providing labor or materials in connection with such work, together with executed unconditional mechanic’s lien releases satisfying any applicable requirements of Law, as reasonably determined by Landlord; (iii) to the extent
applicable, Tenant’s delivery to Landlord of “as built” drawings (in CAD format, if requested by Landlord); or (iv) Tenant’s compliance with Landlord’s standard
“close-out” requirements regarding city approvals, closeout tasks, Tenant’s contractor, financial close-out matters, and Tenant’s vendors.
Notwithstanding the foregoing, (x) Landlord shall not be required to disburse any portion of the General Use Allowance when a Default exists, and (y) if Tenant fails to use the entire General Use Allowance within the first 9 months of
the initial Term, the unused amount shall revert to Landlord and Tenant shall have no further rights with respect thereto. 

  

	5.	 Letter of Credit. 

 

	 	5.1.	 General Provisions. Concurrently with its execution and delivery of this Lease, Tenant shall deliver to
Landlord, as collateral for Tenant’s performance of its obligations under this Lease, a standby, unconditional, irrevocable, transferable letter of credit (the “Letter of Credit”) that (a) is substantially in the form of
Exhibit H (or another form approved by Landlord in its sole and absolute discretion), (b) is in the amount of $330,000.00 (the “Letter of Credit Amount”), (c) names
Landlord as beneficiary, and (d) is issued (or confirmed) by a financial institution that meets the Minimum Financial Requirement (defined below) and is otherwise acceptable to Landlord in its reasonable discretion. For purposes hereof, a
financial institution shall be deemed to meet the “Minimum Financial Requirement” at a particular time only if such financial institution then (i) has not been placed into receivership by the FDIC, and (ii) has a financial
strength that, in Landlord’s good faith judgment, is not less than that which is then generally required by Landlord and its Affiliates as a condition to accepting letters of credit in support of new leases. Tenant shall cause the Letter of
Credit to be continuously maintained in effect (whether through replacement, renewal or extension) in the Letter of Credit Amount through the date (the “Final LC Expiration Date”) occurring 60 days after the scheduled
expiration date of the Term, as it may be extended from time to time. Landlord hereby approves Silicon Valley Bank as the issuing bank. 

  

	 	5.2.	 Replacement of Letter of Credit. 

 

	 	A.	 If the Letter of Credit held by Landlord expires or terminates before the Final LC Expiration Date (whether by
reason of a stated expiration date or a notice of termination or non-renewal given by the issuing bank), Tenant shall deliver to Landlord, not later than 45 days before such expiration or termination, a
new Letter of Credit, or a certificate of renewal or extension of the Letter of Credit held by Landlord, in an amount not less than the Letter of Credit Amount (less the amount of any unapplied Proceeds (defined in
Section 5.3 below) then held by Landlord) and otherwise satisfying all of the requirements set forth in the first sentence of Section 5.1 above (the
“LC Requirements”). 

  
 Exhibit F 

2 

	 	B.	 If, at any time before the Final LC Expiration Date, the financial institution that issued (or confirmed) the
Letter of Credit held by Landlord does not meet the Minimum Financial Requirement, then Tenant, within 10 business days after Landlord’s written demand, shall deliver to Landlord, in replacement of such Letter of Credit, a new Letter of
Credit that (i) is issued (or confirmed) by a financial institution that meets the Minimum Financial Requirement and is otherwise acceptable to Landlord in its reasonable discretion, and (ii) is in an amount not less than the Letter of
Credit Amount (less the amount of any unapplied Proceeds then held by Landlord) and otherwise satisfies all of the LC Requirements, whereupon Landlord shall return to Tenant the Letter of Credit that is being replaced. 

 

	 	C.	 If, at any time before the Final LC Expiration Date, the amount of the Letter of Credit held by Landlord is
less than the Letter of Credit Amount (less the amount of any unapplied Proceeds then held by Landlord), then Tenant, within 10 business days after Landlord’s demand, shall either (i) deliver to Landlord an additional Letter of Credit that
is in an amount not less than the amount of such shortfall and otherwise satisfies all of the LC Requirements, or (ii) deliver to Landlord, in replacement of the Letter of Credit held by Landlord, a new Letter of Credit that is in an
amount not less than the Letter of Credit Amount (less the amount of any unapplied Proceeds then held by Landlord) and otherwise satisfies all of the LC Requirements (whereupon, in the case of this clause (ii), Landlord shall return to
Tenant the Letter of Credit that is being replaced). 

  

	 	5.3.	 Drawings Under Letter of Credit; Use of Proceeds. If Tenant breaches any provision of this Lease
(including any provision of Section 5.2 above), Landlord, without limiting its remedies and without notice to Tenant, may draw upon the Letter of Credit and either (a) use all or part of the proceeds of the Letter of
Credit (“Proceeds”) to cure such breach and compensate Landlord for any loss or damage caused by such breach, including any damage for which recovery may be made under California Civil Code § 1951.2, or (b) hold the
Proceeds, without segregation, until they are applied as provided in the preceding clause (a) or paid to Tenant pursuant to Section 5.4 below. 

 

	 	5.4.	 Payment of Unapplied Proceeds to Tenant. Upon receiving any new or additional Letter of Credit (or any
certificate of renewal or extension of a Letter of Credit) satisfying the applicable requirements of Section 5.2 above, Landlord shall pay to Tenant any unapplied Proceeds then held by Landlord, except to the extent, if
any, that the amount of the Letter of Credit then held by Landlord is less than the Letter of Credit Amount. In addition, any unapplied Proceeds shall be paid to Tenant within 60 days after the latest to occur of (a) the expiration of the
Term, (b) Tenant’s surrender of the Premises as required under this Lease, or (c) determination of the final Rent due from Tenant. 

  

	 	5.5.	 Nature of Letter of Credit and Proceeds. Landlord and Tenant acknowledge and agree that, subject to the
terms of this Section 5, neither the Letter of Credit nor any Proceeds are (i) the property of Tenant or its bankruptcy estate, or (ii) intended to serve as, or in lieu of, a security deposit.

  

	 	5.6.	 Reduction of Letter of Credit Amount. Notwithstanding any contrary provision hereof, provided that no
Default then exists, the Letter of Credit Amount shall be reduced to $165,000.00 (the “Reduced Amount”) on the first day of the 37th full calendar month of the Term (the
“Reduction Effective Date”). If the Letter of Credit Amount is reduced in accordance with this Section 5.6, Tenant shall either (a) deliver to Landlord a new Letter of

  
 Exhibit F 

3 

	 	
Credit in the amount of the Reduced Amount and otherwise satisfying the LC Requirements, whereupon Landlord shall return the Letter of Credit then held by Landlord (the “Existing
Letter of Credit”) to Tenant within 30 days after the later of Landlord’s receipt of such new Letter of Credit or the Reduction Effective Date, or (b) deliver to Landlord an amendment to the Existing Letter of Credit,
executed by and binding upon the issuer of the Existing Letter of Credit and in a form reasonably acceptable to Landlord, reducing the amount of the Existing Letter of Credit to the Reduced Amount, whereupon Landlord shall execute and return such
amendment to Tenant within 30 days after the later of Landlord’s receipt of such amendment or the Reduction Effective Date. 

  

	6.	 Initial Tenant Work. Landlord hereby approves the Initial Tenant Work (the
“Initial Tenant Work”) described on the space plan attached as Exhibit I attached hereto (the “Preliminary Space Plan”). Landlord hereby approves AS_IS.Us as the architect for the Initial Tenant Work and DPR,
NOVO, and Field Construction as acceptable potential general contractors for the Initial Tenant Work. Notwithstanding anything in the Lease to the contrary, Landlord shall approve or disapprove (which approval shall not unreasonably be withheld,
conditioned or delayed) Tenant’s plans and specifications for the Initial Tenant Work and all subsequent changes thereto within five (5) business days following Landlord’s receipt of all information reasonably necessary to evaluate
Tenant’s request for approval. No additional security or lien completion bond shall be required in connection with the Initial Tenant Work, and notwithstanding anything in the Lease to the contrary, Landlord’s coordination fee for such
Initial Tenant Work shall equal 2% of the hard costs of such Initial Tenant Work. 

  

	7.	 Amenities. Subject to the terms of this Section 7, Tenant may use the exercise
facility and bicycle storage area existing at the Project as of the date hereof (each an “Amenity”). For so long as each Amenity is maintained and operated within the Building or Project for general use by occupants of the Building,
Landlord shall cause such Amenity to be made available for use by Tenant or Tenant’s employees during the same hours and upon the same terms and conditions as such Amenity is made generally available for use by other occupants of the Building.
Any party electing to use any Amenity shall be required, before commencing such use, to execute and deliver to Landlord (or the operator of such Amenity) Landlord’s (or such operator’s) then-standard form of license or other agreement
governing such use. Tenant acknowledges that the provisions of this Section shall not be deemed to be a representation by Landlord that Landlord shall continuously maintain any such Amenity throughout the Term (as the same may be extended) and
Landlord shall have the right, at Landlord’s reasonable discretion, to expand, contract, eliminate or otherwise modify any of the same. 

[REMAINDER OF PAGE INTENTIONALLY LEFT BLANK] 

  
 Exhibit F 

4 

 EXHIBIT G 

MARKET CENTER 

ASBESTOS NOTIFICATION 

Asbestos-containing materials (“ACMs”) were historically commonly used in the construction of commercial buildings across the
country. ACMs were commonly used because of their beneficial qualities. ACMs are fire-resistant and provide good noise and temperature insulation. 

Some common types of ACMs include surfacing materials (such as spray-on fireproofing, stucco, plaster
and textured paint), flooring materials (such as vinyl floor tile and vinyl floor sheeting) and their associated mastics, carpet mastic, thermal system insulation (such as pipe or duct wrap, boiler wrap and cooling tower insulation), roofing
materials, drywall, drywall joint tape and drywall joint compound, acoustic ceiling tiles, transite board, base cove and associated mastic, caulking, window glazing and fire doors. These materials are not required under law to be removed from any
building (except prior to demolition and certain renovation projects). Moreover, ACMs generally are not thought to present a threat to human health unless they cause a release of asbestos fibers into the air, which does not typically occur unless
(1) the ACMs are in a deteriorated condition, or (2) the ACMs have been significantly disturbed (such as through abrasive cleaning, or maintenance or renovation activities). 

It is possible that some of the various types of ACMs noted above (or other types) are present at various locations in the Building. Anyone
who finds any such materials in the Building should assume them to contain asbestos unless those materials are properly tested and found to be otherwise. In addition, under applicable law, certain of these materials are required to be presumed to
contain asbestos in the Building because the Building was built prior to 1981 (these materials are typically referred to as “Presumed Asbestos Containing Materials” or “PACM”). PACM consists of thermal system
insulation and surfacing material found in buildings constructed prior to 1981, and asphalt or vinyl flooring installed prior to 1981. If any thermal system insulation, asphalt or vinyl flooring or surfacing materials are found to be present in the
Building, such materials must be considered PACM unless properly tested and found otherwise. In addition, Landlord has identified the presence of certain ACMs in the Building. For information about the specific types and locations of these
identified ACMs, please contact the Building manager. The Building manager maintains records of the Building’s asbestos information including any Building asbestos surveys, sampling and abatement reports. This information is maintained
as part of Landlord’s asbestos Operations and Maintenance Plan (“O&M Plan”). 
 The O&M Plan is designed to
minimize the potential of any harmful asbestos exposure to any person in the Building. Because Landlord is not a physician, scientist or industrial hygienist, Landlord has no special knowledge of the health impact of exposure to asbestos. Therefore,
Landlord hired an independent environmental consulting firm to prepare the Building’s O&M Plan. The O&M Plan includes a schedule of actions to be taken in order to (1) maintain any building ACMs in good condition, and (2) to
prevent any significant disturbance of such ACMs. Appropriate Landlord personnel receive regular periodic training on how to properly administer the O&M Plan. 

The O&M Plan describes the risks associated with asbestos exposure and how to prevent such exposure. The O&M Plan describes those
risks, in general, as follows: asbestos is not a significant health concern unless asbestos fibers are released and inhaled. If inhaled, asbestos fibers can accumulate in the lungs and, as exposure increases, the risk of disease (such as asbestosis
and cancer) increases. However, measures taken to minimize exposure and consequently minimize the accumulation of fibers, can reduce the risk of adverse health effects. 

  
 Exhibit G 

1 

 The O&M Plan also describes a number of activities which should be avoided in order to
prevent a release of asbestos fibers. In particular, some of the activities which may present a health risk (because those activities may cause an airborne release of asbestos fibers) include moving, drilling, boring or otherwise disturbing
ACMs. Consequently, such activities should not be attempted by any person not qualified to handle ACMs. In other words, the approval of Building management must be obtained prior to engaging in any such activities. Please contact the
Building manager for more information in this regard. A copy of the written O&M Plan for the Building is located in the Building management office and, upon your request, will be made available to tenants for you to review and copy during
regular business hours. 
 Because of the presence of ACM in the Building, we are also providing the following warning, which
is commonly known as a California Proposition 65 warning: 
 WARNING: This building contains asbestos, a chemical known to the State
of California to cause cancer. 
 Please contact the Building manager with any questions regarding the contents of this
Exhibit G. 

  
 Exhibit G 

2 

 EXHIBIT H 

MARKET CENTER 

FORM OF LETTER OF CREDIT 
  

 
 [Name of
Financial Institution] 
  

					
		 		 	 Irrevocable Standby
 Letter of Credit

No. ______________________
 Issuance Date:_____________

Expiration Date:____________

Applicant:__________________

 Beneficiary 
 [Insert
Name of Landlord] 
 [Insert Building management office address] 
  

	
	  

	  

	  

 Ladies/Gentlemen: 

We hereby establish our Irrevocable Standby Letter of Credit in your favor for the account of the above referenced Applicant in the amount of
____________________ U.S. Dollars ($____________________) available for payment at sight by your draft drawn on us when accompanied by the following documents: 
  

	1.	 An original copy of this Irrevocable Standby Letter of Credit. 

 

	2.	 Beneficiary’s dated statement purportedly signed by an authorized signatory or agent reading: “This
draw in the amount of ______________________ U.S. Dollars ($____________) under your Irrevocable Standby Letter of Credit No. ____________________ represents funds due and owing to us pursuant to the terms of that certain lease by and between
______________________, as landlord, and _____________, as tenant, and/or any amendment to the lease or any other agreement between such parties related to the lease.” 

It is a condition of this Irrevocable Standby Letter of Credit that it will be considered automatically renewed for a one year period upon the
expiration date set forth above and upon each anniversary of such date, unless at least sixty (60) days prior to such expiration date or applicable anniversary thereof, we notify you in writing, by certified mail return receipt requested or by
recognized overnight courier service, that we elect not to so renew this Irrevocable Standby Letter of Credit. A copy of any such notice shall also be sent, in the same manner, to: Equity Office, 2 North Riverside Plaza, Suite 2100, Chicago,
Illinois 60606, Attention: Treasury Department. In addition to the foregoing, we understand and agree that you shall be entitled to draw upon this Irrevocable Standby Letter of Credit in accordance with 1 and 2 above in the event that we elect not
to renew this Irrevocable Standby Letter of Credit and, in addition, you provide us with a dated statement purportedly signed by an authorized signatory or agent of Beneficiary stating that the Applicant has failed to provide you with an acceptable

  
 Exhibit H 

1 

 
substitute irrevocable standby letter of credit in accordance with the terms of the above referenced lease. We further acknowledge and agree that: (a) upon receipt of the documentation
required herein, we will honor your draws against this Irrevocable Standby Letter of Credit without inquiry into the accuracy of Beneficiary’s signed statement and regardless of whether Applicant disputes the content of such statement;
(b) this Irrevocable Standby Letter of Credit shall permit partial draws and, in the event you elect to draw upon less than the full stated amount hereof, the stated amount of this Irrevocable Standby Letter of Credit shall be automatically
reduced by the amount of such partial draw; and (c) you shall be entitled to transfer your interest in this Irrevocable Standby Letter of Credit from time to time and more than one time without our approval and without charge. In the event of a
transfer, we reserve the right to require reasonable evidence of such transfer as a condition to any draw hereunder. 
 This Irrevocable
Standby Letter of Credit is subject to the International Standby Practices (ISP98) ICC Publication No. 590. 
 We hereby engage with
you to honor drafts and documents drawn under and in compliance with the terms of this Irrevocable Standby Letter of Credit. 
 All
communications to us with respect to this Irrevocable Standby Letter of Credit must be addressed to our office located at ______________________________________________ to the attention of __________________________________. 

 

	
	 Very truly yours,

	
	  

	
	 [name]

	
	 [title]

 [REMAINDER OF PAGE INTENTIONALLY LEFT BLANK] 

  
 Exhibit H 

2 

 EXHIBIT I 

MARKET CENTER 

INITIAL TENANT WORKEX-10.8

 Exhibit 10.8 

SECOND AMENDED AND RESTATED 

LOAN AND SECURITY AGREEMENT 

THIS SECOND AMENDED AND RESTATED LOAN AND SECURITY AGREEMENT (this “Agreement”) dated as of September 7, 2016
(the “Effective Date”) between SILICON VALLEY BANK, a California corporation with a loan production office located at 2400 Hanover Street, Palo Alto, CA 94304 (“Bank”), and MEDALLIA, INC., a Delaware
corporation with offices located at 395 Page Mill Road, Suite 100, Palo Alto, CA 94306 (“Borrower”), 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 April 10, 2013 (as amended, 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 except for non-compliance with FASB ASC Topic 718. 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 meanings 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 Letter of Credit Sublimit. 

(a) As part of the Revolving Line, Bank shall issue or have issued Letters of Credit denominated in Dollars or a Foreign Currency for
Borrower’s account. The aggregate Dollar Equivalent amount utilized for the issuance of Letters of Credit shall at all times reduce the amount otherwise available for Advances under the Revolving Line. The aggregate Dollar Equivalent of the
face amount of outstanding Letters of Credit (including drawn but unreimbursed Letters of Credit and any Letter of Credit Reserve) may not exceed the lesser of (i) Forty Million Dollars ($40,000,000), or (ii) (A) the lesser of (1) the
Revolving Line or (2) the CMRR multiplied by the Advance Rate, minus (B) the sum of all outstanding principal amounts of any Advances. 

(b) If, on the Revolving Line Maturity Date (or the effective date of any termination of this Agreement), there are any outstanding Letters of
Credit, then on such date Borrower shall provide to Bank cash collateral in an amount equal to at least 105% (at least 110% for Letters of Credit denominated in a Foreign Currency) of the aggregate Dollar Equivalent of the face amount of all such
Letters of Credit plus all interest, fees, and costs due or estimated by Bank to become due in connection therewith, to secure all of the Obligations relating to such Letters of Credit. All Letters of Credit shall be in form and substance acceptable
to Bank in its sole discretion and shall be subject to the terms and conditions of Bank’s standard Application and Letter of Credit Agreement (the “Letter of Credit Application”). Borrower agrees to execute any further
documentation in connection with the Letters of Credit as Bank may reasonably request. Borrower further agrees to be bound by the regulations and interpretations of the issuer of any Letters of Credit guaranteed by Bank and opened for
Borrower’s account or by Bank’s interpretations of any Letter of Credit issued by Bank for Borrower’s account, and Borrower understands and agrees that Bank shall not be liable for any error, negligence, or mistake, whether of
omission or commission, in following Borrower’s instructions or those contained in the Letters of Credit or any modifications, amendments, or supplements thereto. 

(c) The obligation of Borrower to immediately reimburse Bank for drawings made under Letters of Credit shall be absolute, unconditional, and
irrevocable, and shall be performed strictly in accordance with the terms of this Agreement, such Letters of Credit, and the Letter of Credit Application. 

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

(e) To guard against fluctuations in currency exchange rates, upon the issuance of any Letter of Credit payable in a Foreign Currency, Bank
shall create a reserve (the “Letter of Credit Reserve”) under the Revolving Line in an amount equal to ten percent (10%) of the face amount of such Letter of Credit. The amount of the Letter of Credit Reserve may be adjusted by Bank
from time to time to account for fluctuations in the exchange rate. The availability of funds under the Revolving Line shall be reduced by the amount of such Letter of Credit Reserve for as long as such Letter of Credit remains outstanding. 

2.2 Overadvances. If at any time, the sum of (a) the outstanding principal amount of any Advances, plus (b) the face amount of
any outstanding Letters of Credit (including drawn but unreimbursed Letters of Credit and any Letter of Credit Reserve) exceeds the lesser of either (x) the Revolving Line 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- 

 2.3 Payment of Interest on the Credit Extensions. 

(a) Interest Rate. 
 (i)
Advances. Subject to Section 2.3(b), the principal amount outstanding under the Revolving Line shall accrue interest at a floating per annum rate equal to the Applicable Rate, which interest shall be payable monthly in accordance with
Section 2.3(d) below. 
 (b) Default Rate. Immediately upon the occurrence and during the continuance of an Event of Default,
Obligations shall bear interest at a rate per annum which is five percentage points (5.0%) above the rate that is otherwise applicable thereto (the “Default Rate”). 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 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) Termination Fee. Upon termination of the Revolving Line for any reason prior to the Revolving Line Maturity Date, in addition to the
payment of any other amounts then-owing, a termination fee in an amount equal to one percent (1.00%) of the Revolving Line; provided that no termination fee shall be charged if the credit facility hereunder is replaced with a new facility
from Bank or Bank’s Affiliates; 
 (b) Unused Revolving Line Facility Fee. Payable quarterly in arrears on the first day of each
calendar quarter occurring thereafter 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-tenth of one percent (0.10%) on an annualized basis, of the average unused portion of the Revolving Line, as determined by Bank; provided, however, that such fee will be waived for each
quarter during which the average for the quarter of the daily closing balance of the Revolving Line outstanding is equal to or greater than Four Million Dollars ($4,000,000). 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 lesser of (A) the Revolving Line or (B) the CMRR multiplied by the Advance Rate, and (ii) the average for the period of the
daily closing balance of the Revolving Line outstanding; 
 (c) Loan Fee. On the Effective Date and on each anniversary thereafter
(exluding the Revolving Line Maturity Date), the Borrower agrees to pay to the Bank a loan fee in an amount equal to 0.25% multiplied by the Revolving Line (each such payment a “Loan Fee Payment”). The aggregate of all such Loan Fee
Payments shall be deemed fully earned and non-refundable as of the Effective Date; and 

  
 -3- 

 (d) 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). 

(e) 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. 
 (f) Letter of Credit Fee. Bank’s customary fees and expenses for the issuance
or renewal of Letters of Credit, upon the issuance of such Letter of Credit, each anniversary of the issuance during the term of such Letter of Credit, and upon the renewal of such Letter of Credit by Bank. 

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. Pacific time on the date when due. Payments of principal and/or interest received after 12:00 p.m. Pacific time are considered received at the opening of business on the next Business Day. When a payment is due on a
day that is not a Business Day, the payment shall be due the next Business Day, and additional fees or interest, as applicable, shall continue to accrue until paid. 

(b) 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 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).
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. 

  
 -4- 

 2.7 Account Collection. Borrower shall direct each Account Debtor (and each
depository institution where proceeds of Accounts are on deposit) to remit payments with respect to the Accounts to an unrestricted account of Borrower maintained with Bank, consistent with past practices. 

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 Borrowing Resolutions for Borrower (to be delivered in accordance with the requirements of
Section 3.3 hereof); and 
 (c) 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; 
 (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 a Material Adverse Change. 

3.3 Post-Closing Conditions. 

(a) The Bank shall have completed an initial collateral audit on or prior to the date that is the earlier of (1) sixty (60) days
after the Effective Date and (2) the date on which the Borrower requests its first extension of credit hereunder, excluding issuances of any Letters of Credit hereunder; 

  
 -5- 

 (b) Borrower shall have delivered duly executed original signatures to the Borrowing
Resolutions for Borrower on or prior to the date that is five (5) days after the Effective Date; 
 (c) Borrower shall have delivered a
duly executed Control Agreement in favor of Bank with respect to Borrower’s Collateral Accounts maintained at Wells Fargo, in form and substance satisfactory to Bank, on or prior to the date that is nine (9) days after the Effective Date.

 3.4 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. 
 3.5 Procedures for Borrowing.

 (a) Advances. Subject to the prior satisfaction of all other applicable conditions to the making of an Advance set forth in
this Agreement, to obtain an Advance (other than Advances under Section 2.1.2), 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
Advance. 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 Advances to the Designated Deposit Account. Bank may make Advances under this Agreement based on instructions from a Responsible Officer or
his or her designee or without instructions if the Advances are necessary to meet Obligations which have become due. 
 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 (other than Bank Services existing as of the Effective Date) shall be deemed to be Obligations hereunder and that it is the intent of Borrower
and Bank to have all such Obligations secured by the first priority perfected security interest in the Collateral granted herein (subject only to Permitted Liens that expressly have superior priority to Bank’s Lien in this Agreement). 

If this Agreement is terminated, Bank’s Lien in the Collateral shall continue until the Obligations (other than inchoate indemnity
obligations) are satisfied in full, and at such time, Bank shall, at Borrower’s sole cost and expense, terminate its security interest in the Collateral and all rights therein shall revert to Borrower. In the event (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. 

  
 -6- 

 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 first priority 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, except as permitted herein, 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 other 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). Bank hereby agrees that the Perfection Certificate shall be deemed to be updated to reflect information provided in any notice delivered by Borrower to Bank as required
pursuant to Section 7.2 below. 
 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 such Governmental Approvals which have already been obtained and are in full force and effect) 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. 

  
 -7- 

 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. Borrower has no Collateral Accounts at or with any bank or financial institution other than Bank or Bank’s
Affiliates except for the Collateral Accounts described in the Perfection Certificate delivered to Bank in connection herewith and as to which Borrower has taken such actions as are necessary to give Bank a perfected security interest therein,
pursuant to the terms of Section 6.7(b). The Accounts are bona fide, existing obligations of the Account Debtors. 
 The Collateral is
not in the possession of any third party bailee (such as a warehouse) except as otherwise provided in the Perfection Certificate. None of the components of the Collateral shall be maintained at locations other than as provided in the Perfection
Certificate or as permitted pursuant to Section 7.2. 
 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 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 Accounts. 

(a) For any Account in any CMRR calculation, all statements made and all unpaid balances appearing in all invoices, instruments and other
documents evidencing such 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 Account. 

(b) All sales and other transactions underlying or giving rise to each 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 Accounts in any CMRR calculation. To the best of Borrower’s knowledge, all signatures and
endorsements on all documents, instruments, and agreements relating to all 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 Account, and there are no defenses, offsets, counterclaims or agreements for which the Account Debtor may claim any deduction or discount. 

5.4 Litigation. 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). 

  
 -8- 

 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. 
 5.9 Tax Returns and Payments; Pension Contributions. Borrower has timely
filed all required tax returns and reports or extensions thereof, 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) if such taxes, assessments, deposits and contributions do not, individually or in the aggregate, exceed Fifty Thousand Dollars ($50,000). 

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 unaware of any claims or adjustments proposed for any of Borrower’s prior tax years which could result in additional taxes becoming due and payable by Borrower in excess of Fifty Thousand Dollars
($50,000). 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 such plan which could reasonably be expected to result in any liability of Borrower, including any liability to the Pension Benefit Guaranty Corporation or
its successors or any other governmental agency. 
 5.10 Use of Proceeds. Borrower shall use the proceeds of the Credit Extensions
solely as working capital and to fund its general business requirements and not for personal, family, household or agricultural purposes. 

  
 -9- 

 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 and all of the Obligations shall be deemed “Designated Senior
Indebtedness” or a similar concept thereof for purposes of any Indebtedness of the Borrower. 
 5.14 OFAC; Sanctions Etc. None of
the Borrower, any of its Subsidiaries or, to the knowledge of the Borrower, any director, officer, employee, agent, or Affiliate of the Borrower or any of its Subsidiaries is a Person that is, or is owned or controlled by Persons that are:
(i) the subject of any sanctions administered or enforced by the U.S. Department of the Treasury’s Office of Foreign Assets Control (“OFAC”), the U.S. Department of State, or other relevant sanctions authority
(collectively, “Sanctions”), or (ii) located, organized or resident in a country or territory that is, or whose government is, the subject of Sanctions, including, without limitation Crimea, Cuba, Iran, North Korea, Sudan and
Syria. 
 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 reasonably be expected to 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 all of the Collateral. Borrower shall promptly provide copies of any such obtained Governmental Approvals to Bank. 

6.2 Financial Statements, Reports, Certificates. Deliver to Bank: 

(a) Borrowing Base Reports. Within thirty (30) days after the last day of each month, aged listings of accounts receivable and
accounts payable (by invoice date) (the “Borrowing Base Reports”); 

  
 -10- 

 (b) Borrowing Base Certificate. Within thirty (30) days after the last day of
each month and together with the Borrowing Base Reports, a duly completed Borrowing Base Certificate signed by a Responsible Officer, together with reports of CMRR, churn, and other data reasonably necessary to calculate the Availability Amount;

 (c) Monthly Financial Statements. As soon as available, but no later than thirty (30) days after the last day of each month, a
company prepared consolidated and consolidating balance sheet and income statement covering Borrower’s consolidated and consolidating operations for such month, together with a bookings report and a report identifying each of Borrower’s
Collateral Accounts as well as the value on deposit in such Collateral Account, each certified by a Responsible Officer and in a form acceptable to Bank (the “Monthly Financial Statements”); 

(d) Monthly Compliance Certificate. Within thirty (30) days after the last day of each month and together with the Monthly
Financial Statements, a duly completed Compliance Certificate signed by a Responsible Officer, certifying that as of the end of such month, Borrower was in full compliance with all of the terms and conditions of this Agreement, setting forth
calculations showing compliance with the financial covenants set forth in this Agreement, and setting forth names and jurisdictions of incorporation of any new Subsidiaries formed since delivery of last such Compliance Certificate and such other
information as Bank may reasonably request; 
 (e) Annual Audited Financial Statements. As soon as available, but no later than one
hundred eighty (180) days after the last day of Borrower’s fiscal year, audited consolidated and consolidating 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; 
 (f) Other Statements. 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; 

(g) SEC Filings. In the event that Borrower becomes subject to the reporting requirements under the Exchange Act 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 and if so delivered, shall be deemed to have been delivered on the date on which Borrower posts such documents, or provides a link thereto, on Borrower’s website on the Internet at Borrower’s website address; 

(h) Legal Action Notice. A prompt report of any legal actions pending or threatened in writing against Borrower or any of its
Subsidiaries that would reasonably be expected to result if adversely determined 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; 

(i) Financial Projections. As soon as available, but not later than thirty (30) days after the last day of Borrower’s fiscal
year (or more frequently as updates are approved by Borrower’s Board of Directors), an annual operating budget and annual financial projections for the following fiscal year approved by Borrower’s Board of Directors and commensurate in
form and substance with those provided to Borrower’s venture capital investors; 

  
 -11- 

 (j) Board Package. Within ten (10) days after providing to Borrower’s
venture capital investors, a copy of the Board Package(s) approved by Borrower’s Board of Directors, provided, that such Board Package(s) shall exclude information necessary to preserve the attorney-client privilege, to protect highly
confidential proprietary information, to avoid a conflict of interest or for other similar reasons, in each case, as determined in good faith by Borrower; 

(k) 409A Valuation. Within thirty (30) days of completion, a copy of each 409A valuation report of Borrower; and 

(l) Other Financial Information. Budgets, sales projections, operating plans, capitalization tables 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 Five Hundred Thousand Dollars ($500,000). 
 6.4 Taxes; Pensions. Timely file, and require each of its Subsidiaries
to timely file, all required tax returns and reports or extensions therefor and timely pay, and require each of its Subsidiaries to timely pay, all foreign, federal, state and local taxes, assessments, deposits and contributions owed by Borrower and
each of its Subsidiaries, except for deferred payment of any taxes contested pursuant to the terms of Section 5.9 hereof, and shall deliver to Bank, on demand, appropriate certificates attesting to such payments, and pay all amounts necessary
to fund all present pension, profit sharing and deferred compensation plans in accordance with their terms. 
 6.5 Access to Collateral;
Books and Records. Allow Bank, or its agents, at reasonable times, on three (3) Business Day’s 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 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, and the charge therefor shall be $850 per person per day, plus reasonable out-of-pocket expenses. Borrower hereby acknowledges that such an audit shall be conducted prior to the earlier of (a) sixty (60) days of the Effective Date and (b) the date on which the
Borrower requests its first extension of credit hereunder, excluding issuances of any Letters of Credit hereunder. 
 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, so long as no Event of Default has occurred and is continuing, Borrower shall have the option of applying the proceeds of casualty policies up to Five Hundred
Thousand Dollars ($500,000) in the aggregate for all losses under all casualty policies in any fiscal 

  
 -12- 

 
year 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 first priority security interest. 
 (c) 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 twenty (20) days prior written notice before any such policy or policies shall be materially altered or canceled. 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. 

(a) Maintain its and its Domestic Subsidiaries’ operating and other deposit accounts and securities accounts with either (i) Bank or
Bank’s Affiliates or (ii) at other financial institutions provided that such accounts are subject to a Control Agreement in favor of Bank, which accounts shall represent at least 80% of the dollar value of Borrower’s and all of its
Subsidiaries’ accounts at all financial institutions. Borrower agrees that it shall provide prior written notice to Bank before establishing any foreign Collateral Account. For purposes of clarification, Borrower’s Foreign Subsidiaries
shall be permitted to maintain foreign bank accounts so long as Borrower shall at all times maintain compliance with the limitation on Investments in Subsidiaries set forth in the definition of Permitted Investments and Section 7.7. For the
sake of clarity, the foregoing sentence does not limit Borrower’s payments to such Subsidiaries for services performed by such Subsidiaries for Borrower which are permitted under Section 7.7 and does not prohibit such Subsidiaries from
maintaining the amounts received from Borrower in accordance therewith in such foreign Collateral Accounts. 
 (b) Provide Bank five
(5) days prior written notice before establishing any domestic Collateral Account at or with any bank or financial institution other than Bank or Bank’s Affiliates. For each domestic Collateral Account that Borrower at any time maintains,
Borrower shall cause the applicable bank or financial institution (other than Bank) at or with which any such Collateral Account is maintained to execute and deliver a Control Agreement or other appropriate instrument with respect to such Collateral
Account to perfect Bank’s Lien in such Collateral Account in accordance with the terms hereunder which Control Agreement may not be terminated without the prior written consent of Bank. The provisions of the previous sentence shall not apply to
deposit accounts exclusively used for credit card payments (provided that the balance of such deposit accounts shall be limited to the amount reasonably necessary for payment of any amounts due under such credit cards), payroll, payroll taxes and
other employee wage and benefit payments to or for the benefit of Borrower’s employees and identified to Bank by Borrower as such. 

6.8 Financial Covenants. 

(a) Minimum Liquidity. Maintain Liquidity, determined as of the last day of any month, greater than or equal to $20,000,000. 

(b) Minimum Subscription Revenue. As of the last day of each quarter set forth below, achieve software subscription revenue for such
quarter of not less than the following amounts for Borrower and its Subsidiaries on a consolidated basis: 

  
 -13- 

					
	Quarter Ending	  	Minimum Subscription Revenue	 
	 October 31, 2016
	  	$	27,500,000	 
	 January 31, 2017
	  	$	31,000,000	 
	 Thereafter
	  	 
 
 
	75% of the approved plan
 of the Board of Directors

of Borrower
	 
  
  

 6.9 Protection of Intellectual Property Rights. 

(a) (i) Use commercially reasonable efforts to protect, defend and maintain the validity and enforceability of its Intellectual Property
material to Borrower’s business; (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 material to
Borrower’s business; 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 requests to obtain the consent of, or waiver by, any person
whose consent or waiver is necessary for (i) any Restricted License to be deemed “Collateral” and for Bank to have a security interest in it that might otherwise be restricted or prohibited by law or by the terms of any such
Restricted License, whether now existing or entered into in the future, and (ii) Bank to have the ability in the event of a liquidation of any Collateral to dispose of such Collateral in accordance with Bank’s rights and remedies under
this Agreement and the other Loan Documents. 
 6.10 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 damaged, worn-out, surplus 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, transactions permitted by
Sections 7.7 and 7.8, Permitted Investments; (d) consisting of the sale or issuance of any stock of Borrower permitted under Section 7.2 of this Agreement; (e) of non-exclusive licenses for
the use of the property of Borrower or its Subsidiaries in the ordinary course of business and other licenses of Intellectual Property that would 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 discrete geographical areas outside of the United States, (f) (i) Transfers to any Guarantor or Borrower from any 

  
 -14- 

 
Subsidiary, (ii) Transfers from any Guarantor or Borrower to any Guarantor or Borrower, (iii) Transfers from any Subsidiary that is not a Guarantor to another Subsidiary that is not a
Guarantor or (iv) the sale or issuance of the capital stock of any Subsidiary of Borrower to the Borrower or any Guarantor, (g) of property to the extent that (i) such property is exchanged for credit against the purchase price of
similar replacement property or (ii) the proceeds of such disposition are promptly applied to the purchase price of such replacement property, (h) of Accounts in connection with the collection or compromise thereof (other than in
connection with financing transactions) in the ordinary course of business, (i) the lapse or abandonment of any Intellectual Property in the ordinary course of business which in the reasonably good faith judgment of Borrower is no longer used
or useful in the business, (j) the unwinding of swap agreements permitted hereunder pursuant to their terms; (k) the Citibank Arrangement, and (l) other Transfers not in excess of Five Hundred Thousand Dollars ($500,000) in the
aggregate. 
 7.2 Changes in Business, Management, Ownership Control, 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; (c) Borrower’s Chief Executive
Officer (who is, as of the Effective Date, Borge Hald) ceases to hold such office with Borrower and is not replaced with a Person approved by Borrower’s Board of Directors within one hundred and eighty (180) days after the such
person’s departure; or (d) enter into any transaction or series of related transactions in which the stockholders of Borrower who were not stockholders immediately prior to the first such transaction own more than forty-nine percent (49%)
of the voting stock of Borrower immediately after giving effect to such transaction or related series of such transactions (other than by the sale of Borrower’s equity securities in a public offering or to venture capital or private equity
investors so long as Borrower identifies to Bank the venture capital or private equity investors at least seven (7) Business Days prior to the closing of the transaction and provides to Bank a description of the material terms of the
transaction). 
 Borrower shall not, without at least fifteen (15) days prior written notice to Bank: (1) add any new offices or
business locations, including warehouses (excluding laptops and computers) (other than data centers for which no bailee letter shall be required) (unless such new offices or business locations contain less than Five Hundred Thousand Dollars
($500,000)) in Borrower’s assets or property) or deliver any portion of the Collateral valued, individually or in the aggregate, in excess of Five Hundred Thousand Dollars ($500,000), to a bailee at a location in the United States other than to
a bailee and at a location already disclosed in the Perfection Certificate, (2) change its jurisdiction of organization, (3) change its organizational structure or type, (4) change its legal name or (5) change any organizational
number (if any) assigned by its jurisdiction of organization; provided that Bank has consented to Borrower’s new offices located at 400 Concar Drive and 450 Concar Drive, San Mateo, California 94402) in 2017. If Borrower intends to deliver any
portion of the Collateral valued, individually or in the aggregate, in excess of Five Hundred Thousand Dollars ($500,000) to a bailee, and Bank and such bailee are not already parties to a bailee agreement governing both the Collateral and the
location to which Borrower intends to deliver the Collateral, then Borrower will first receive the written consent of Bank, and such bailee shall execute and deliver a bailee agreement in form and substance reasonably satisfactory to Bank; provided
that Bank has consented to a change in headquarters to 400 Concar Drive and 450 Concar Drive, San Mateo, California 94402 in 2017. Notwithstanding anything to the contrary herein, the requirements of this Section 7.2 shall not be applicable to
any data center at which Borrower or its Subsidiaries maintains any Collateral. 
 7.3 Mergers or Acquisitions. Merge or consolidate,
or permit any of its Subsidiaries to merge or consolidate, with any other Person, or, other than Permitted Acquisitions, 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 (a) where as part of such transaction, Borrower repays all Obligations owing to Bank concurrently with the consummation of such transaction and 

  
 -15- 

 
this Agreement is terminated concurrently with the consummation of such transaction, (b) a Subsidiary may merge or consolidate into another Subsidiary or into Borrower and (c) any
Subsidiary of Borrower may Transfer any or all of its assets (i) pursuant to any liquidation or other transaction that results in the assets of such Subsidiary being transferred to Borrower or any Guarantor or (ii) pursuant to a Transfer
that is otherwise permitted by Section 7.1. 
 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 first priority security
interest granted herein (subject to Permitted Liens which are permitted by the terms hereof to have priority over Bank’s Lien), or enter into any agreement, document, instrument or other arrangement (except with or in favor of Bank) with any
Person which directly or indirectly prohibits or has the effect of prohibiting Borrower or any Subsidiary from assigning, mortgaging, pledging, granting a security interest in or upon, or encumbering any of Borrower’s or any Subsidiary’s
Intellectual Property, except as is otherwise permitted in Section 7.1 hereof and the definition of “Permitted Liens” herein. 

7.6 Maintenance of Collateral Accounts. Maintain any Collateral Account except pursuant to the terms of Section 6.7(b) hereof. 

7.7 Distributions; Investments. (a) Pay any dividends or make any distribution or payment or redeem, retire or purchase any capital
stock; provided that (i) Borrower may convert any of its convertible securities into other securities pursuant to the terms of such convertible securities or otherwise in exchange thereof, (ii) Borrower may pay dividends solely in
common stock; (iii) Borrower may repurchase the stock of former or current employees, directors or consultants pursuant to stock repurchase agreements or in the ordinary course of business 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 Five Hundred Thousand Dollars ($500,000) per twelve month period, (iv) Borrower may
purchase fractional shares of capital stock of Borrower arising out of stock dividends, splits or combinations or business combinations, (v) Borrower or any Guarantor may make payments to Borrower or any Guarantor, (vi) any Subsidiary that
is not a Guarantor may make payments to another Subsidiary that is not a Guarantor, (viii) any Subsidiary that is not a Guarantor may make payments to Borrower or any Guarantor, (ix) Borrower may repurchase unvested early exercised stock
of departing employees and (x) Borrower may make payments in respect of Deferred Payment Obligations; 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. For the sake of clarity, Borrower’s payments to its Subsidiaries for services performed by such Subsidiaries for Borrower are not prohibited under this Agreement provided
that such payments do not exceed the actual operational cost plus up to a fifteen percent (15%) mark-up. 

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) sales of equity securities in bona fide venture financing transactions, (ii) the incurrence of Subordinated Debt, (iii) transactions permitted pursuant to the terms of Section 7.2 hereof,
(iv) Investments permitted under sub-clauses (g) or (h) of the definition of Permitted Investments, (v) Transfers allowed to Affiliates under Section 7.1, (vi) Investments in
Affiliates allowed under the definition of Permitted Investments, (vii) any indemnification agreement, employee agreement, compensation arrangment (including equity based compensation) or reimbursement of current or former officers and
directors, in each case, entered into in the ordinary course of business and as approved by 

  
 -16- 

 
the Borrower’s Board of Directors, (viii) any retention bonus or similar arrangment in the ordinary course of business as approved by the Borrower’s Board of Directors,
(ix) transactions permitted under Sections 7.3 and 7.7, and (x) other transactions that are in the ordinary course of Borrower’s business, upon fair and reasonable terms that are no less favorable to Borrower than would be
obtained in an arm’s length transaction with a non-affiliated Person. 
 7.9 Subordinated
Debt. (a) Make or permit any payment on any Subordinated Debt, except under the terms of the subordination, intercreditor, or other similar agreement to which such Subordinated Debt is subject, or (b) amend any provision in any
document relating to the Subordinated Debt which would increase the amount thereof, provide for earlier or greater principal, interest, or other payments thereon, 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 deferred compensation plan which could reasonably be expected to result in any liability of Borrower, including any
liability to the Pension Benefit Guaranty Corporation or its successors or any other governmental agency. 
 7.11 Use of Proceeds. Use
the proceeds of any extension of credit hereunder, or lend, contribute or otherwise make available such proceeds to any subsidiary, joint venture partner or other Person, whether directly or indirectly, and whether immediately, incidentally or
ultimately, to (a) purchase or carry margin stock (within the meaning of Regulation U of the Board) or to extend credit to others for the purpose of purchasing or carrying margin stock or to refund indebtedness originally incurred for such
purpose, in each case in violation of, or for a purpose which violates, or would be inconsistent with, Regulation T, U or X of the Board, (b) finance a hostile acquisition, or (c)(i) to fund any activities or business of or with any
Person, or in any country or territory, that, at the time of such funding, is, or whose government is, the subject of Sanctions, or (ii) in any other manner that would result in a violation of Sanctions by any Person (including any Person
participating in the Loans, whether as underwriter, advisor, investor, or otherwise). 
 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). 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); 

  
 -17- 

 8.2 Covenant Default. 

(a) Borrower fails or neglects to perform any obligation in Sections 2.2, 6.2, 6.4, 6.5, 6.6, 6.7, 6.8, 6.9(a)(iii) or 6.9(b), or violates
any covenant in Section 7; or 
 (b) Borrower fails or neglects to perform, keep, or observe any other term, provision, condition,
covenant or agreement contained in this Agreement or any Loan Documents, and as to any default (other than those specified in this Section 8) under such other term, provision, condition, covenant or agreement that can be cured, has failed to
cure the default within ten (10) days after the occurrence thereof; provided, however, that if the default cannot by its nature be cured within the ten (10) day period or cannot after diligent attempts by Borrower be cured
within such ten (10) day period, and such default is likely to be cured within a reasonable time, then Borrower shall have an additional period (which shall not in any case exceed thirty (30) days) to attempt to cure such default, and
within such reasonable time period the failure to cure the default shall not be deemed an Event of Default (but no Credit Extensions shall be made during such cure period). Cure periods provided under this section shall not apply, among other
things, to financial covenants or any other covenants set forth in clause (a) above; 
 8.3 Material Adverse Change. A Material
Adverse Change occurs; 
 8.4 Attachment; Levy; Restraint on Business. 

(a) (i) The service of process seeking to attach, by trustee or similar process, any funds of Borrower or of any entity under the control
of Borrower (including a Subsidiary) in excess of Five Hundred Thousand Dollars ($500,000), 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 is unable to pay its debts (including trade debts) as they become due or otherwise becomes insolvent;
(b) Borrower begins an Insolvency Proceeding; or (c) an Insolvency Proceeding is begun against Borrower and 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. There is, under any
agreement to which Borrower is a party with a third party or parties, (a) any default resulting in a right by such third party or parties, whether or not exercised, to accelerate the maturity of any Indebtedness in an amount individually or in
the aggregate in excess of Five Hundred Fifty Thousand Dollars ($500,000); or (b) any breach or default by Borrower, the result of which could have a material adverse effect on Borrower’s business; provided, however, that the
Event of Default under this Section 8.6 caused by the occurrence of a default under such other agreement shall be cured or waived for purposes of this Agreement upon Bank receiving written notice from the party asserting such default of such
cure or waiver of the default under such other agreement, if at the time of such cure or waiver under such other agreement (x) Bank has not declared an Event of Default under this Agreement and/or exercised any rights with respect thereto;
(y) any such cure or waiver does not result in an Event of Default under any other provision of this Agreement or any Loan Document; and (z) in connection with any such cure or waiver under such other agreement, the terms of any agreement
with such third party are not modified or amended in any manner which could in the good faith judgment of Bank be materially less advantageous to Borrower; 

  
 -18- 

 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 Five Hundred Thousand Dollars ($500,000) (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 (provided that no Credit Extensions will be made prior to the satisfaction, payment, discharge, stay, or bonding of such fine, penalty,
judgment, order or decree); 
 8.8 Misrepresentations. Borrower or any Person acting for Borrower makes any representation, warranty,
or other statement now or later in this Agreement, any Loan Document or in any writing delivered to Bank or to induce Bank to enter this Agreement or any Loan Document, and such representation, warranty, or other statement is incorrect in any
material respect when made; 
 8.9 Subordinated Debt. Any document, instrument, or agreement evidencing any Subordinated Debt shall
for any reason be revoked or invalidated or otherwise cease to be in full force and effect, any Person shall be in breach thereof or contest in any manner the validity or enforceability thereof or deny that it has any further liability or obligation
thereunder, or the Obligations shall for any reason be subordinated or shall not have the priority contemplated by this Agreement; or 

8.10 Governmental Approvals. Any material 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 or that
could result in the Governmental Authority taking any of the actions described in clause (a) above, and such decision or such revocation, rescission, suspension, modification or non-renewal
(i) causes, or could reasonably be expected to cause, a Material Adverse Change, or (ii) adversely affects the legal qualifications of Borrower or any of its Subsidiaries to hold such Governmental Approval in any applicable jurisdiction
and such revocation, rescission, suspension, modification or non-renewal could reasonably be expected to materially adversely affect the status of or legal qualifications of Borrower or any of its Subsidiaries
to hold any Governmental Approval in any other jurisdiction. 
 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) for any Letters of
Credit, demand that Borrower (i) deposit cash with Bank in an amount equal to 105% (110% for Letters of Credit denominated in a Foreign Currency) 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 

  
 -19- 

 
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 FX 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; 

(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

  
 -20- 

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

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

  
 -21- 

 10. NOTICES 

All notices, consents, requests, approvals, demands, or other communication (collectively, “Communication”), other than
Advance requests made pursuant to Section 3.5, by any party to this Agreement or any other Loan Document must be in writing and be delivered at the addresses or email addresses 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) one (1) Business Day after deposit with a reputable overnight courier with all charges prepaid; or (c) when delivered, if hand-delivered by
messenger, all of which shall be addressed to the party to be notified and sent to the address 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 or electronic mail address by giving the other party written notice thereof in accordance with the terms of this
Section 10. 
  

			
	If to Borrower:	  	Medallia, Inc.
		  	395 Page Mill Road, Suite 100
		  	Palo Alto, CA 94306
		
	If to Bank:	  	Silicon Valley Bank
		  	2400 Hanover Street
		  	Palo Alto, CA 94304

 11. CHOICE OF LAW, VENUE AND JURY TRIAL WAIVER 

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 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. 
 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. 
  

  
 -22- 

 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 in accordance with Section 2.4(a) hereof. 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. 

  
 -23- 

 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 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 so long as Bank provides Borrower with written notice of such correction and allows Borrower at least ten (10) days to
object to such correction. In the event of such objection, such correction shall not be made except by an amendment signed by both Bank and Borrower. 

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”); (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 

  
 -24- 

 
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. 

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

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

 12.14 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. 

12.15 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. 

  
 -25- 

 12.16 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. 

12.17 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 all existing Loan Documents and confirms that they remain in full force and effect, and 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. 
 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 CMRR 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. 

“Applicable Rate” is a floating per annum rate equal to the Prime Rate plus one-half
of one percent (0.50%); provided that if Borrower and its Subsidiaries on a consolidated basis achieves monthly EBITDA greater than Zero Dollars ($0.00) for three (3) consecutive months, the Applicable Rate shall be a floating per annum
rate equal to the Prime Rate (a “Rate Decrease”); provided, further, that, following any Rate Decrease, if the monthly EBITDA of Borrower and its Subsidiaries on a consolidated basis is less than Zero Dollars ($0.00)
for two (2) consecutive months, the Applicable Rate shall return to a floating per annum rate equal to the Prime Rate plus one-half of one percent (0.50%). 

  
 -26- 

 “Availability Amount” is (a) the lesser of (i) the Revolving Line
or (ii) the CMRR multiplied by the Advance Rate, minus (b) the outstanding principal balance of any Advances, minus (c) the aggregate Dollar Equivalent amount of all outstanding Letters of Credit (including drawn
but unreimbursed Letters of Credit) plus an amount equal to the Letter of Credit Reserve. 
 The following definitions are utilized in
calculating and determining the Availability Amount: 
 “Advance Rate” is the product of four
(4) 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 month, or such
earlier time as Bank may determine necessary, in its sole discretion. 
 “Churn Rate” is, as of any date of determination,
the Lost Revenue Percentage multiplied by twelve (12). 
 “CMRR” is, for any month, all recurring revenue of Borrower
and its Subsidiaries on a consolidated basis, plus purchase orders for future recurring revenue, determined in accordance with GAAP, for such month, derived from software license and managed service subscriptions. Bank may, in its sole discretion,
permit revenue from other ongoing services, such as maintenance and support, to be included in CMRR. 
 “Customer Retention
Percentage” is, for any period of measurement as of any date of determination, one hundred percent (100%) minus the applicable Churn Rate. 

“Lost Revenue” is, for any period as at any date of determination, the total CMRR from subscription Accounts of Borrower and
its Subsidiaries on a consolidated basis that were lost during such period; provided that Lost Revenue may not be offset by upsells and add-ons to Borrower’s and its Subsidiaries’ existing
customers. 
 “Lost Revenue Percentage” is, measured on a trailing three month basis ending as of any date of determination,
(i) the Lost Revenue on such date of determination divided by (ii) the total CMRR for such trailing three month period divided by (iii) three (3). 

“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”).

  
 -27- 

 “Board” means Board of Governors of the Federal Reserve System of the
United States (or any successor). 
 “Board Package” means the financial board package periodically delivered by Borrower
to its Board of Directors. It is understood by Bank that the Board Package may contain confidential information of an especially sensitive nature and Borrower may redact or omit any portion of the information provided to Bank if Borrower
believes in its good faith judgment that such exclusion is reasonably necessary to preserve the attorney-client privilege, to protect highly confidential proprietary information or for other similar reasons. 

“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 the Bank’s standard borrowing base reporting package provided by Bank to Borrower, such
certificate to be in the form attached hereto as Exhibit B. 
 “Borrowing Base Reports” is
defined in Section 6.2(a). 
 “Borrowing Resolutions” are, with respect to any Person, those resolutions substantially
in the form attached hereto as Exhibit E or in form and substance otherwise acceptable to Bank in its sole discretion. 

“Business Day” is any day that is not a Saturday, Sunday or a day on which Bank is closed. 

“Cash Equivalents” means (a) marketable direct obligations issued or unconditionally guaranteed by the United States or
any agency or any State thereof having maturities of not more than one (1) year from the date of acquisition; (b) commercial paper maturing no more than one (1) year after its creation and having the highest rating from either
Standard & Poor’s Ratings Group or Moody’s Investors Service, Inc., (c) Bank’s certificates of deposit issued maturing no more than one (1) year after issue; (d) money market funds at least ninety-five percent
(95%) of the assets of which constitute Cash Equivalents of the kinds described in clauses (a) through (c) of this definition and (e) any other investments made pursuant to Borrower’s investment policy then in effect (provided
that such policy has been approved by Borrower’s Board of Directors and a copy has been previously delivered to Bank). 

“Citibank Arrangement” means the transactions contemplated under the Account Receivable Purchase Agreement with Citibank,
Europe PLC and/or its Affiliates, dated as of February 15, 2015, whereby Borrower will sell to Citibank, on a continuing basis, all Accounts owing to Borrower from Liberty Global Services B.V. and/or its Affiliates. 

“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. 

  
 -28- 

 “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 C. 

“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, Letter of Credit or any other extension of credit by Bank for Borrower’s
benefit under this Agreement. 
 “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 Payment Obligations” means Indebtedness in the form of purchase price adjustments, earn-outs, deferred
compensation, or other arrangements representing acquisition consideration or deferred payments of similar nature incurred in connection with any Permitted Acquisition or other Investment permitted hereunder. 

  
 -29- 

 “Deposit Account” is any “deposit account” as defined in the Code
with such additions to such term as may hereafter be made. 
 “Designated Deposit Account” is the multicurrency account,
denominated in Dollars, account number xxxxxxx563, 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 and governed under the laws of the United States. 

“EBITDA” shall mean for Borrower and its Subsidiaries on a consolidated basis,(a) Net Income, plus (b) Interest
Expense, plus (c) to the extent deducted in the calculation of Net Income, depreciation expense and amortization expense, plus (d) income tax expense, plus (e) non-cash stock based compensation.

 “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. 

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

“Event of Default” is defined in Section 8. 

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

“Foreign Subsidiary” means a Subsidiary organized and governed under the laws of a country other than the United States. 

“Funding Date” is any date on which a Credit Extension is made to or for the account of Borrower which shall be a Business
Day. 
 “FX 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. 

  
 -30- 

 “General Intangibles” is all “general intangibles” as defined in
the Code in effect on the date hereof with such additions to such term as may hereafter be made, and includes without limitation, all Intellectual Property, claims, income and other tax refunds, security and other deposits, payment intangibles,
contract rights, options to purchase or sell real or personal property, rights in all litigation presently or hereafter pending (whether in contract, tort or otherwise), insurance policies (including without limitation key man, property damage, and
business interruption insurance), payments of insurance and rights to payment of any kind. 
 “Governmental Approval” is
any consent, authorization, approval, order, license, franchise, permit, certificate, accreditation, registration, filing or notice, of, issued by, from or to, or other act by or in respect of, any Governmental Authority. 

“Governmental Authority” is any nation or government, any state or other political subdivision thereof, any agency,
authority, instrumentality, regulatory body, court, central bank or other entity exercising executive, legislative, judicial, taxing, regulatory or administrative functions of or pertaining to government, any securities exchange and any
self-regulatory organization. 
 “Guarantor” is any 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. 

“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 

  
 -31- 

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

“Interest Expense” means for any fiscal period with respect to Borrower and its Subsidiaries on a consolidated basis,
interest expense (whether cash or non-cash) determined in accordance with GAAP for the relevant period ending on such date, including, in any event, interest expense with respect to any Credit Extension and
other Indebtedness of Borrower and its Subsidiaries, including, without limitation or duplication, all commissions, discounts, or related amortization and other fees and charges with respect to letters of credit and bankers’ acceptance
financing and the net costs associated with interest rate swap, cap, and similar arrangements, and the interest portion of any deferred payment obligation (including leases of all types). 

“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. 
 “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. 
 “Letter of
Credit Application” is defined in Section 2.1.2(b). 
 “Letter of Credit Reserve” is defined in
Section 2.1.2(e). 
 “Lien” is a claim, mortgage, deed of trust, levy, charge, pledge, security interest or other
encumbrance of any kind, whether voluntarily incurred or arising by operation of law or otherwise against any property. 

“Liquidity” is at any time, the sum of (a) the aggregate amount of unrestricted cash and Cash Equivalents held at
such time by the Borrower and its Subsidiaries in Deposit Accounts or Securities Accounts maintained with Bank or its Affiliates or in Deposit Accounts or Securities Accounts subject to Control Agreements in favor of the Bank, which shall be not
less than $10,000,000 and (b) the Availability Amount at such time. 
 “Loan Documents” are, collectively, this
Agreement and any schedules, exhibits, certificates, notices, and any other documents related to this Agreement, 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. 

“Loan Fee Payment” is defined in Section 2.4(c). 

“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. 

  
 -32- 

 “Material Foreign Subsidiary” means at any date of determination, any
Foreign Subsidiary of Borrower, designated by Borrower in writing in the Compliance Certificate and which as of such date (i) holds assets representing 10% or more of the Borrower’s consolidated total assets as of such date (determined in
accordance with GAAP), (ii) provides 10% or more of the Borrower’s consolidated total revenue for the year ended as of such date (determined in accordance with GAAP), or (iii) accounts for 10% (or, solely with respect to Medallia
Ltd., 20%) or more of the sum of (a) Borrower’s consolidated operating expenses plus (b) Borrower’s consolidated cost of goods sold, in each case for the year ended as of such date (and in each case determined in accordance with
GAAP). 
 “Material Subsidiary” means at any date of determination, any Domestic Subsidiary of Borrower, designated by
Borrower in writing in the Compliance Certificate and which as of such date (i) holds assets representing 10% or more of the Borrower’s consolidated total assets as of such date (determined in accordance with GAAP), (ii) provides 10%
or more of the Borrower’s consolidated total revenue for the year ended as of such date (determined in accordance with GAAP), or (iii) accounts for 10% or more of the sum of (a) Borrower’s consolidated operating expenses plus
(b) Borrower’s consolidated cost of goods sold, in each case for the year ended as of such date (and in each case determined in accordance with GAAP). 

“Monthly Financial Statements” is defined in Section 6.2(c). 

“Net Income” means, for any period as at any date of determination, the net profit (or loss), after provision for taxes, of
Borrower and its Subsidiaries on a consolidated basis for such period taken as a single accounting period. 
 “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, 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, but excluding Bank Services existing as of the Effective Date. 

“OFAC” is defined in Section 5.14. 

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

  
 -33- 

 “Payment/Advance Form” is that certain form attached hereto as
Exhibit D. 
 “Perfection Certificate” is defined in Section 5.1. 

“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; 
 (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 secured by Liens permitted under clauses (a) and
(d) of the definition of “Permitted Liens” hereunder; 
 (g) Indebtedness incurred by a Subsidiary to the extent permitted
under clause (f) and (g) of the definition of “Permitted Investments” hereunder; 
 (h) Indebtedness of a Person (other than
Borrower or one of its Subsidiaries which constituted a Subsidiary prior to the consummation of the applicable merger referenced below) existing at the time such Person is merged with or into Borrower or a Subsidiary or becomes a Subsidiary;
provided that (i) such Indebtedness was not, in any case, incurred by such other Person in connection with, or in contemplation of, such merger or acquisition, (ii) such merger or acquisition constitutes a Permitted Acquisition, and
(iii) with respect to any such Person who becomes a Subsidiary, (A) such Subsidiary is the only obligor in respect of such Indebtedness, and (B) to the extent such Indebtedness is permitted to be secured hereunder, only the assets of
such Subsidiary secure such Indebtedness; 
 (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 (i) hedge or mitigate risks to which Borrower or such Subsidiary has actual exposure (including interest rate risks, currency
exchange risks and commodity risks) or (ii) effectively cap, collar or exchange interest rates (from fixed to floating rates, from one floating rate to another floating rate or otherwise) with respect to any interest-bearing liability or
investment of Borrower or such Subsidiary (collectively, “Hedging Contracts”); 
 (j) Indebtedness of (i) Borrower or any
Guarantor to Borrower or any Guarantor; (ii) Borrower or any of its Subsidiaries (which is not a Guarantor) to any other Subsidiary (which is not a Guarantor) to the extent that such Indebtedness is Subordinated Debt, (iii) any Subsidiary
(which is not a Guarantor) to Borrower or any Guarantor if permitted by item (g)(ii) of the definition of Permitted Investments; 
 (k)
Indebtedness incurred by Foreign Subsidiaries in an aggregate amount not to exceed Five Hundred Thousand Dollars ($500,000); 
 (l)
Indebtedness consisting of insurance premium financing; 

  
 -34- 

 (m) Indebtedness in the form of Deferred Payment Obligations, 

(n) Indebtedness incurred by Borrower or any Subsidiary in the ordinary course of business under a commercial credit card program not to exceed
Two Million Five Hundred Thousand Dollars ($2,500,000); 
 (o) Indebtedness representing deferred compensation, severance and health and
welfare retirement benefits to current and former employees of Borrower and its Subsidiaries incurred in the ordinary course of business; 

(p) other Indebtedness of Borrower or any of its Subsidiaries not otherwise permitted by this definition in an aggregate principal amount not
to exceed Seven Hundred Fifty Thousand Dollars ($750,000) at any time; and 
 (q) extensions, refinancings, modifications, amendments and
restatements of any items of Permitted Indebtedness (a) through (p) 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. 
 “Permitted Investments” are: 

(a) Investments (including, without limitation, Subsidiaries) shown on the Perfection Certificate and existing on the Effective Date; 

(b) Investments consisting of cash and Cash Equivalents; 

(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 or securities accounts permitted by Section 6.7;

 (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 (i) by Borrower or any of its Subsidiaries in Borrower
or any Guarantor, (ii) by Borrower in Subsidiaries that are not Guarantors not to exceed Five Hundred Thousand Dollars ($500,000) in the aggregate in any fiscal year; (iii) by any Subsidiary that is not a Guarantor in any other Subsidiary
that is not Guarantor; 
 (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 current or former 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; 
 (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; 

  
 -35- 

 (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) 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; 
 (l) Investments by Borrower or any Subsidiary in Hedging Contracts; 

(m) Investments received in settlement of amounts due to Borrower or any Subsidiary effected in the ordinary course of business or owing to
Borrower or any Subsidiary as a result of Insolvency Proceedings involving an Account Debtor or upon the foreclosure or enforcement of any Lien in favor of Borrower or such Subsidiary; 

(n) Investments held by any Person as of the date such Person is acquired in connection with a Permitted Acquisition, provided that
(i) such Investments were not made, in any case, by such Person in connection with, or in contemplation of, such Permitted Acquisition and (ii) with respect to any such person which becomes a Subsidiary as a result of such Permitted
Acquisition, such Subsidiary remains the only holder of such Investment; 
 (o) purchases or other acquisitions by Borrower or any Subsidiary
of the capital stock in a Person that, upon the consummation thereof, will be a Subsidiary (including as a result of a merger or consolidation) or all or substantially all of the assets of, or assets constituting one or more business units of,
any Person (each, a “Permitted Acquisition”); provided that, with respect to each such purchase or other acquisition: 

(i) the newly-created or acquired Subsidiary (or assets acquired in connection with an asset sale) shall be (x) in the same or a related
line of business as that conducted by the Borrower on the date hereof, or (y) in a business that is ancillary, supplemental or incidental to and in furtherance of the line of business as that conducted by the Borrower on the date hereof; 

(ii) all transactions related to such purchase or acquisition shall be consummated in all material respects in accordance with all Requirements
of Law; 
 (iii) Borrower shall not, as a result of or in connection with any such purchase or acquisition, assume or incur any direct or
contingent liabilities (whether relating to environmental, tax, litigation or other matters) that, as of the date of such purchase or acquisition, could reasonably be expected to result in the existence or incurrence of a Material Adverse Change;

 (iv) the Borrower shall give the Bank at least five (5) Business Days’ prior written notice of any such purchase or acquisition;

 (v) the Borrower shall provide to the Bank as soon as available but in any event not later than five (5) Business Days after the
execution thereof, a copy of any executed purchase agreement or similar agreement with respect to any such purchase or acquisition; 

  
 -36- 

 (vi) Borrower, as the acquirer of any such newly-created or acquired Material Subsidiary
that becomes a Guarantor, or Borrower as the acquirer of assets in connection with an asset acquisition, shall execute any further instruments and take further action as Bank requests to perfect or continue Bank’s Lien in the Collateral,
including but not limited to filing of financing statements, pledges of shares of capital stock in favor of Bank and Control Agreements in favor of bank covering 65% of any Material Foreign Subsidiaries, except to the extent compliance with such
requests is prohibited by Requirements of Law binding on such Subsidiary or its properties or if Bank determines, in its sole discretion, that a pledge of shares of capital stock that Borrower owns in such Subsidiary would not be appropriate due to
the cost of obtaining such a pledge; 
 (viii) immediately before and immediately after giving effect to any such purchase or other
acquisition, no Default or Event of Default shall have occurred and be continuing and (y) immediately after giving effect to such purchase or other acquisition, the Borrower and its Subsidiaries shall be in compliance with each of the covenants
set forth in Section 6.8, based upon financial statements delivered to the Bank which give effect, on a pro forma basis, to such acquisition or other purchase; 

(ix) the Borrower shall not, based upon the knowledge of the Borrower as of the date any such acquisition or other purchase is consummated,
reasonably expect such acquisition or other purchase to result in a Default or an Event of Default under Section 8.2(a), at any time during the term of this Agreement, as a result of a breach of any of the financial
covenants set forth in Section 6.8; 
 (x) no Indebtedness is assumed or incurred in connection with any such
purchase or acquisition other than Permitted Indebtedness; 
 (xi) such purchase or acquisition shall not constitute an Unfriendly
Acquisition; 
 (xii) the aggregate amount of the cash consideration paid by Borrower in connection with all such Permitted Acquisitions
consummated from and after the Effective Date shall not exceed $25,000,000; provided that any Deferred Payment Obligations in connection with any such Permitted Acquisitions that are scheduled to occur after the Revolving Line Maturity Date shall be
excluded in such $25,000,000 amount (but, for the avoidance of doubt, any Deferred Payment Obligations in connection with any such Permitted Acquisitions that are scheduled to occur on or before the Revolving Line Maturity Date will be included in
such $25,000,000 amount); and 
 (xiii) the Borrower shall have delivered to the Bank, at least five (5) Business Days prior to the date
on which any such purchase or other acquisition is to be consummated (or such later date as is agreed by the Bank in its sole discretion), a certificate of a Responsible Officer of the Borrower, in form and substance reasonably satisfactory to the
Bank, certifying that all of the requirements set forth in this definition have been satisfied or will be satisfied on or prior to the consummation of such purchase or other acquisition; and 

(p) other Investments of Borrower or any of its Subsidiaries not otherwise permitted by this definition in an aggregate principal amount not to
exceed $500,000. 
 “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 Borrower’s 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; 

  
 -37- 

 (c) purchase money Liens (including capital leases) (i) on Equipment acquired or held
by Borrower incurred for financing the acquisition of the Equipment securing no more than Two Million Dollars ($2,000,000) 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, securing liabilities in the aggregate amount not to exceed Five Hundred Thousand Dollars ($500,000) 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) leases or
subleases of real property granted in the ordinary course of Borrower’s 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 Borrower’s 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 Bank a security interest therein; 

(g) non-exclusive license of Intellectual Property granted to third parties in the ordinary course of
business and other licenses of Intellectual Property that would not result in a legal transfer of title of the licensed property that may be exclusive in respects other than territory and that maybe be exclusive as to territory only as to discrete
geographical areas outside of the United States; 
 (h) Liens arising from judgments, decrees or attachments in circumstances not
constituting an Event of Default under Section 8.4 or 8.7; 
 (i) easements, reservations, rights-of-way, restrictions, minor defects or irregularities in title and other similar Liens only affecting real property not interfering in any material respect with the ordinary conduct of the business of
Borrower; 
 (j) deposits to secure the performance of bids, trade contracts (other than for borrowed money), contracts for the purchase of
property, leases, statutory obligations, ERISA, 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; 

(k) Liens in connection with Subordinated Debt that are subordinated to Lender’s Lien; 

(l) customary cash deposits to secure Borrower or any Subsidiary’s obligations to landlords or sublandlords; 

(m) Liens which constitute banker’s liens, rights or set-off, or similar rights as to deposit
accounts or other funds maintained with a bank or other financial institution (but only to the extent such banker’s liens, rights of set-off or other rights are in respect of customary service charges
relative to such deposit accounts and other funds and not in respect of any loans or other extensions of credit by such bank or other financial institution to Borrower); 

  
 -38- 

 (n) Liens arising by virtue of Uniform Commercial Code financing statement filings (or
similar filings under applicable law) regarding operating leases entered into by Borrower and its Subsidiaries in the ordinary course of business; 

(o) Liens encumbering customary initial deposits and margin deposits, and other Liens that are either within general parameters customary to
the industry or incurred in the ordinary course of business, in each case, securing Indebtedness under Hedging Contracts; 
 (p) any Lien on
assets of any Foreign Subsidiary that is not a Guarantor; provided that (i) such Lien shall not apply to any Collateral and (ii) such Lien shall secure only Indebtedness or other obligations of such Foreign Subsidiary permitted hereunder;

 (q) Liens on deposits to secure Indebtedness under clauses (i), (k), (l), (n) and (p) of the definition of Permitted Indebtedness;

 (r) Liens on insurance policies and the proceeds thereof securing insurance premium financing; 

(s) Liens existing on property at the time of its acquisition or existing on the property of any Person at the time such Person becomes a
Subsidiary, in each case after the date hereof; provided that (i) such Liens was not created in contemplation of such acquisition or such Person becoming a Subsidiary and (ii) the Indebtedness secured thereby is permitted under clause
(h) of the definition of Permitted Indebtedness; 
 (t) Liens securing Indebtedness permitted by clause (s) of the definition of
Permitted Indebtedness to the extent the Indebtedness being so refinanced was secured and permitted to be secured hererafter; 
 (u) any
encumbrance or restriction (including pursuant to put and call agreements or buy/sell arrangements0 with respect to capital stock of any joint venture or similar arrangements pursuant to the joint venture or similar agreement with respect to such
joint venture or similar arrangements; 
 (v) other Liens on property of the Borrower or any of its Subsidiaries not otherwise permitted by
this definition so long as the aggregate principal amount of the Indebtedness secured thereby does not exceed $500,000; and 
 (w) Liens
incurred in the extension, renewal or refinancing of the indebtedness secured by Liens described in (a) through (v), 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. 
 “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). 

  
 -39- 

 “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 (a) that prohibits or otherwise restricts Borrower from granting a security interest in Borrower’s interest in such license or agreement or any other property, or (b) for which a default under
or termination of could interfere with the Bank’s right to sell any Collateral. 
 “Revolving Line” is an aggregate
principal amount not to exceed Forty Million Dollars ($40,000,000). 
 “Revolving Line Maturity Date” is August 8,
2018. 
 “Sanctions” is defined in Section 5.14. 

“SEC” shall mean the Securities and Exchange Commission, any successor thereto, and any analogous Governmental Authority,

 “Securities Account” is any “securities account” as defined in the Code with such additions to such term as
may hereafter be made. 
 “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. 

“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. 
 “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. 

  
 -40- 

 “Transfer” is defined in Section 7.1. 

“Unfriendly Acquisition” is any acquisition that has not, at the time of the first public announcement of an offer relating
thereto, been approved by the board of directors (or other legally recognized governing body) of the Person to be acquired; except that with respect to any acquisition of a non-U.S. Person, an otherwise
friendly acquisition shall not be deemed to be unfriendly if it is not customary in such jurisdiction to obtain such approval prior to the first public announcement of an offer relating to a friendly acquisition. 

“Unused Revolving Line Facility Fee” is defined in Section 2.4(b). 

[Signature page follows.] 

  
 -41- 

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

 

			
	By:	 	 /s/ Alan Grebene

	Name:	 	Alan Grebene
	Title:	 	VP, General Counsel
	
	BANK:
	
	SILICON VALLEY BANK
		
	By:	 	 /s/ Ashlee Kaji

	Name:	 	Ashless Kaji
	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 (a) 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, (b) rights held under a license that are not assignable by their terms
without the consent of the licensor thereof (but only to the extent such restriction on assignment is enforceable under applicable law), (c) any interest of Borrower as a lessee under an Equipment lease if Borrower is prohibited by the terms of
such lease from granting a security interest in such lease or under which such an assignment or Lien would cause a default to occur under such lease; provided, however, that upon termination of such prohibition, such interest shall
immediately become Collateral without any action by Borrower or Bank, or (d) 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 

BORROWING BASE CERTIFICATE 

[see attached] 

 

 
 TRANSACTION REPORT AND LOAN REQUEST 

																					
	 	Medallia, Inc.	 
			
				  		  	 	Report No: 1        	 	  				  			
				  		  	 	Date                    	 	  				  			
	 	 3003 Tasman Drive, Santa Clara, CA 95054
	 
						
	 	 	  	Committed Monthly Recurring Revenue	  	 	 	  	 	 	  	Consolidated	 	  	 	 
	 	1	 	  	Beginning Committed Monthly Recurring Revenue (CMRR)	  				  				  	$	 	 	  			
				  		  				  				  	  
	  
	 	  			
	 	2	 	  	Add: CMRR	  				  				  	$	 	 	  			
				  		  				  				  	  
	  
	 	  			
	 	3	 	  	Less: Churn	  				  				  	$	 	 	  			
				  		  				  				  	  
	  
	 	  			
	 	4	 	  	Ending Committed Monthly Recurring Revenue	  				  				  	$	 	 	  			
				  		  				  				  	  
	  
	 	  			
				  	COMPUTATION OF BORROWING AVAILABILITY	  				  				  				  			
	 	5	 	  	Current Month’s Churn	  				  				  	 	%	 	  			
				  		  				  				  	  
	  
	 	  			
	 	6	 	  	Annualized Churn	  				  				  	 	%	 	  			
				  		  				  				  	  
	  
	 	  			
	 	7	 	  	3 Month Average Annualized Churn	  				  				  	 	%	 	  			
				  		  				  				  	  
	  
	 	  			
	 	8	 	  	Retention Rate	  				  				  	 	%	 	  			
				  		  				  				  	  
	  
	 	  			
	 	9	 	  	Advance Rate	  				  				  	 	%	 	  			
				  		  				  				  	  
	  
	 	  			
	 	10	 	  	Borrowing Availability: After Advance Rate	  				  				  	$	 	 	  			
				  		  				  				  	  
	  
	 	  			
	 	11	 	  	Lower of Calculated Availability or Line limit	  	$	 	 	  				  				  			
				  		  	  
	  
	 	  				  	  
	  
	 	  			
	 	12	 	  	Less Reserves: Other	  				  				  	$	—  	 	  			
				  		  				  				  	  
	  
	 	  			
				  	 Letter of Credit
	  				  				  	$	—  	 	  			
				  		  				  				  	  
	  
	 	  			
				  	 Cash Management
	  				  				  	$	—  	 	  			
				  		  				  				  	  
	  
	 	  			
	 	12a	 	  	Total of Reserves:	  				  				  	$	—  	 	  			
				  		  				  				  	  
	  
	 	  			
	 	13	 	  	Net Borrowing Availability: Before Loans (Line 10 minus Line 11a)	  				  				  	$	 	 	  			
				  		  				  				  	  
	  
	 	  			
				  	COMPUTATION OF LOAN	  				  				  				  			
	 	14	 	  	Beginning Loan Balance (Line 19 of Previous Report)	  				  				  	$	—  	 	  			
				  		  				  				  	  
	  
	 	  			
	 	15	 	  	Principal Payment Applied to Loan Balance (enter as negative number)	  				  				  	$	—  	 	  			
				  		  				  				  	  
	  
	 	  			
	 	16	 	  	Ending Loan Balance – Before Loan Request (Sum Lines 14-15 all items)	  				  				  	$	—  	 	  			
				  		  				  				  	  
	  
	 	  			
	 	17	 	  	Unused Borrowing Availability Before Loan Request (Line 11 minus Line 16)	  				  				  	$	 	 	  			
				  		  				  				  	  
	  
	 	  			
	 	18	 	  	New Loan Request: The undersigned hereby requests a loan advance in the amount shown adjacent hereto.	  				  				  				  			
	 	 	  	Please deposit/wire loan proceeds to my Checking A/C No.	  	  
	 	  	 	 	  	 	 	  	 	 
				  	At Silicon Valley Bank Office:                             	  				  	 	Advance =	 	  	$	—  	 	  	 
	Input
advance	 
 
				  		  				  				  	  
	  
	 	  			
	 	19	 	  	New Loan Balance – After Loan Advance	  				  				  	$	—  	 	  			
				  		  				  				  	  
	  
	 	  			
	 	20	 	  	Remaining Unused Borrowing Availability – After Loan Request	  				  				  	$	 	 	  			
				  		  				  				  	  
	  
	 	  			

  

  
 Transaction Report and
Loan Request 

 The above described Collateral is subject to a security interest in favor of SILICON VALLEY BANK pursuant to
the terms and conditions of a Loan & Security Agreement’s, as executed by and between SILICON VALLEY BANK and the undersigned. All representations and warranties in the Agreement are true and correct in all material respects on this
date, and the Borrower represents that there is no existing Event of Default 

$                    has been deposited/wired to your
account pursuant to the request set forth above. 
  

											
	BORROWER	 	        	  	SILICON VALLEY BANK	  	
						
	Signature	 	              
	 		  	Signature	  	
             
	  	
	Name	 	  
	 		  	Name	  	  
	  	Enter name
	Title	 	  
	 		  	Title	  	  
	  	Enter name
	Date	 	  
	 		  	Date	  	  
	  	Enter date

 EXHIBIT C 

COMPLIANCE CERTIFICATE 
  

					
	TO: SILICON VALLEY BANK	  		  	Date:                     

 FROM: MEDALLIA, INC. 

The undersigned authorized officer of Medallia, 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 as explained in an accompanying letter or footnotes. The undersigned acknowledges that no borrowings may be requested at any time or
date of determination that Borrower is not in compliance with any of the terms of the Agreement, and that compliance is determined not just at the date this certificate is delivered. Capitalized terms used but not otherwise defined herein shall have
the meanings given them in the Agreement. 
 Please indicate compliance status by circling Yes/No under “Complies” column. 

 

					
	 Reporting Covenant
	  	 Required
	  	 Complies

	 Monthly financial statements (including bookings report) with Compliance Certificate
	  	Monthly within 30 days	  	Yes No
			
	Annual financial statement (CPA Audited)	  	 FYE within 180 days (270 days for 2012 financials)
	  	Yes No
			
	10-Q, 10-K and 8-K	  	Within 5 days after filing with SEC	  	Yes No
			
	 A/R & A/P Agings, Borrowing Base Certificate (including CMRR and churn reports)
	  	Monthly within 30 days	  	Yes No
			
	 Annual Board Approved Operating Budget and Financial Projections
	  	 FYE within 30 days (or more frequently as updated)
	  	Yes No
			
	Board Package(s)	  	 Within 10 days of submission to venture capital investors
	  	Yes No
	409A Valuation	  	Within 30 days of completion	  	Yes No

													
	 Financial Covenant
	  	Required	 	  	Actual	 	  	Complies	 
	 Maintain as indicated:
	  				  				  			
	 Minimum Quarterly Subscription Revenue:
	  				  				  			
	 Quarter ending 10/31/16
	  	$	27,500,000	 	  	$	             	 	  	 	Yes   No	 
	 Quarter ending 1/31/17
	  	$	31,500,000	 	  	$	             	 	  	 	Yes   No	 
	 Thereafter
	  	 
 
 

 
	75% of the
 approved plan of

the Board of

Directors of
 Borrower
	
  
  

 
  
	  	$	             	 	  	 	Yes   No	 

  

					
	 Performance Pricing
	  	 Applies

	Initial Rate	  	Prime + 0.50%	  	Yes   No
	EBITDA > $0.00 for 3 consecutive months	  	Prime	  	Yes   No
	EBITDA < $0.00 for 2 consecutive months	  	Prime + 0.50%	  	Yes   No

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

 
  
  

 
 The following are new subsidiaries
formed as set forth in the below schedules: 
  

					
	 Name of Subsidiary
	  	 Jurisdiction of Organization
	  	 Material

Domestic/Foreign

Subsidiary?

		  		  	Yes No

 The following are Material Foreign Subsidiaries or Material Subsidiaries, as of the date hereof: (If none,
state “None”): 
  
  

 
  
  

 
  

									
	Medallia, Inc.	  	        	  	BANK USE ONLY
					
	By:	  	
                     
                    
	  		  	Received by:	  	  

	Name:	  	
                     
                
	  		  		  	AUTHORIZED SIGNER
	Title:	  	
                     
                
	  		  	Date:	  	
                     
                            

					
		  		  		  	Verified:	  	
                     
                        

		  		  		  		  	AUTHORIZED SIGNER
					
		  		  		  	Date:	  	  

				
		  		  		  	Compliance Status:    Yes    No

 Schedule 1 to Compliance Certificate 

Financial Covenants and Calculations 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. Minimum Liquidity
(Section 6.8(a)) 
 Required: $20,000,000 
 Actual: 

 

					
	 A. Cash and Cash Equivalents held by Borrower and its Subsidiaries on a consolidated basis in
Deposit Accounts or Securities Accounts maintained with Bank or its Affiliates or in Deposit Accounts or Securities Accounts subject to Control Agreements in favor of Bank, which shall not be less than $10,000,000
	  	$	_____	 
	 B. Availability Amount
	  	$	_____	 
	 C. Liquidity (line A plus line B)
	  	$	_____	 

 Is line C equal to or greater than $20,000,000? 

_____No, not in
compliance                         _____Yes, in compliance 

II. Minimum Quarterly Subscription Revenue (Section 6.8(b)) 

Required: 
  

					
	Quarter Ending	  	Minimum Subscription Revenue	 
	 October 31, 2016
	  	$	 27,500,000	 
	 January 31, 2017
	  	$	 31,000,000	 
	 Thereafter
	  	 

	75% of the approved plan
of the Board of Directors
of Borrower	 
 
 

 Actual: 
  

					
	 A. Subscription Revenue of Borrower and its Subsidiaries on a consolidated basis for the most
recently ended quarter
	  	$	_____	 

 Is line A equal to or greater than the appropriate amount set forth above? 

_____No, not in
compliance                             _____Yes, in compliance 

III. EBITDA (This is not a financial covenant but is used to determine pricing.) 

	Required:	 $0.00 

Actual: 
  

					
	 A. Net Income of Borrower and its Subsidiaries on a consolidated basis for the most recently ended
month
	  	$	_____	 
		
	 B. To the extent included in the determination of Net Income
	  			
		
	 1 The provision for income taxes
	  	$	_____	 
		
	 2 Depreciation expense
	  	$	_____	 
		
	 3 Amortization expense
	  	$	_____	 
		
	 4 Net Interest Expense
	  	$	_____	 
		
	 5 Non-cash stock based compensation
	  	$	_____	 
		
	 6 The sum of lines 1 through 5
	  	$	_____	 

  

	C.	 EBITDA (line A plus line B.6) 

If line C is greater than $0.00 for three consecutive months, the Applicable Rate shall be the Prime Rate. 

If line C is less than $0.00 for two consecutive months, the Applicable Rate shall be the Prime Rate + 0.50%. 

 EXHIBIT D – LOAN PAYMENT/ADVANCE REQUEST FORM 

DEADLINE FOR SAME DAY PROCESSING IS
NOON PACIFIC TIME 
  

			
	Fax To: (650) 494-1377	  	                                      
      Date: ____________________

  

									
	LOAN PAYMENT:	  		  		  		  	
	MEDALLIA, 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 #)	  		  		  	
	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 RESOLUTIONS 

[see attached] 

 

 
 CORPORATE BORROWING CERTIFICATE 

 

					
	BORROWER:	  	Medallia, Inc.	  	DATE: _______________, ____
			
	BANK:	  	Silicon Valley Bank	  	

 I hereby certify as follows, as of the date set forth above: 

1. I am the Secretary, Assistant Secretary or other officer of the Borrower. My title is as set forth below. 

2. Borrower’s exact legal name is set forth above. Borrower is a corporation existing under the laws of Delaware. 

3. Attached hereto are true, correct and complete copies of Borrower’s Articles/Certificate of Incorporation (including amendments), as filed with the
Secretary of State of the state in which Borrower is incorporated as set forth in paragraph 2 above. Such Articles/Certificate of Incorporation have not been amended, annulled, rescinded, revoked or supplemented, and remain in full force and effect
as of the date hereof. 
 4. The following resolutions were duly and validly adopted by Borrower’s Board of Directors at a duly held meeting of such
directors (or pursuant to a unanimous written consent or other authorized corporate action). Such resolutions are in full force and effect as of the date hereof and have not been in any way modified, repealed, rescinded, amended or revoked, and Bank
may rely on them until Bank receives written notice of revocation from Borrower. 
 RESOLVED,
that any one of the following officers or employees of Borrower, whose names, titles and signatures are below, may act on behalf of Borrower: 
  

							
	 Name
	  	 Title
	  	 Signature
	  	 Authorized to Add or

Remove
 Signatories

				
	Mike Kourey	  	Chief Financial Officer	  	  
	  	☐
				
	Alan Grebene	  	Vice President, General Counsel and Secretary	  	  
	  	☐
				
	Amy Pressman	  	President	  	  
	  	☐
				
	Borge Hald	  	Chief Executive Officer	  	  
	  	☐

 RESOLVED FURTHER, that any one of the persons
designated above with a checked box beside his or her name may, from time to time, add or remove any individuals to and from the above list of persons authorized to act on behalf of Borrower. 

RESOLVED FURTHER, that such individuals may, on behalf of Borrower: 

Borrow Money. Borrow money from Silicon Valley Bank (“Bank”). 

 Execute Loan Documents. Execute any loan documents Bank requires. 

Grant Security. Grant Bank a security interest in any of Borrower’s assets. 

Negotiate Items. Negotiate or discount all drafts, trade acceptances, promissory notes, or other 

indebtedness in which Borrower has an interest and receive cash or otherwise use the proceeds. 

Letters of Credit. Apply for letters of credit from Bank. 

Foreign Exchange Contracts. Execute spot or forward foreign exchange contracts. 

Further Acts. Designate other individuals to request advances, pay fees and costs and execute other documents or agreements (including
documents or agreement that waive Borrowers right to a jury trial) they believe to be necessary to effectuate such resolutions. 

RESOLVED FURTHER, that all acts authorized by the above resolutions and any prior acts
relating thereto are ratified. 
 5. The persons listed above are Borrower’s officers or employees with their titles and signatures shown next to their
names. 
  

			
		
	By:	 	  

	Name:	 	
	Title:	 	

  

	***	 If the Secretary, Assistant Secretary or other certifying officer executing above is designated by the
resolutions set forth in paragraph 4 as one of the authorized signing officers, this Certificate must also be signed by a second authorized officer or director of Borrower. 

I, the Chief Financial Officer of Borrower, hereby certify as to paragraphs 1 through 5 above, as of the date set forth above. 

 

			
		
	By:	 	  

	Name:	 	
	Title:	 	

 AMENDMENT NO. 1 

TO 
 SECOND AMENDED AND
RESTATED 
 LOAN AND SECURITY AGREEMENT 

THIS AMENDMENT NO. 1 TO SECOND AMENDED AND RESTATED LOAN AND SECURITY AGREEMENT (this “Amendment”) is entered into this 5th
day of May, 2017, by and between Silicon Valley Bank (“Bank”) and Medallia, Inc., a Delaware corporation (“Borrower”) whose address is 395 Page Mill Road, Suite 100, Palo Alto, CA 94306. 

RECITALS 

A. Bank and Borrower have entered into that certain Second Amended and Restated Loan and Security Agreement dated as of
September 7, 2016 (as the same may from time to time be further amended, modified, supplemented or restated, the “Loan Agreement”). 

B. Bank has extended credit to Borrower for the purposes permitted in the Loan Agreement. 

C. Borrower has requested that Bank amend the Loan Agreement to update Minimum Subscription Revenue levels for Borrower’s 2018
fiscal year. 
 D. Bank has agreed to so amend certain provisions of the Loan Agreement, but only to the extent, in accordance with
the terms, subject to the conditions and in reliance upon the representations and warranties set forth below. 
 AGREEMENT

 NOW, THEREFORE, in consideration of the foregoing recitals and
other good and valuable consideration, the receipt and adequacy of which is hereby acknowledged, and intending to be legally bound, the parties hereto agree as follows: 

1. Definitions. Capitalized terms used but not defined in this Amendment shall have the meanings given to them in the Loan Agreement.

 2. Amendments to Loan Agreement. 

2.1 Section 6.8 (Financial Covenants). Part (b) of Section 6.8 of the Loan Agreement is hereby
amended in its entirety and replaced with the following: 
 “(b) Minimum Subscription Revenue. As of the last day of each quarter
set forth below, achieve software subscription revenue for such quarter of not less than the following amounts for Borrower and its Subsidiaries on a consolidated basis: 

					
	Quarter Ending	  	Minimum Subscription Revenue	 
	 April 30, 2017
	  	$	32,550,000	 
	 July 31, 2017
	  	$	33,825,000	 
	 October 31, 2017
	  	$	35,850,000	 
	 January 31, 2018
	  	$	38,475,000	 
	 Thereafter
	  	 

	75% of the approved plan
of the Board of Directors
of Borrower”	 
 
 

 3. Limitation of Amendment. 

3.1 The amendment set forth in Section 2, above, is effective for the purposes set forth herein and shall be
limited precisely as written and shall not be deemed to (a) be a consent to any amendment, waiver or modification of any other term or condition of any Loan Document, or (b) otherwise prejudice any right or remedy which Bank may now have
or may have in the future under or in connection with any Loan Document. 
 3.2 This Amendment shall be construed in connection with
and as part of the Loan Documents and all terms, conditions, representations, warranties, covenants and agreements set forth in the Loan Documents, except as herein amended, are hereby ratified and confirmed and shall remain in full force and
effect. 
 4. Representations and Warranties. To induce Bank to enter into this Amendment, Borrower hereby represents and warrants to
Bank as follows: 
 4.1 Immediately after giving effect to this Amendment (a) the representations and warranties contained in the
Loan Documents are true, accurate and complete in all material respects as of the date hereof (except to the extent such representations and warranties relate to an earlier date, in which case they are true and correct as of such date), and
(b) no Event of Default has occurred and is continuing; 
 4.2 Borrower has the power and authority to execute and deliver this
Amendment and to perform its obligations under the Loan Agreement, as amended by this Amendment; 
 4.3 The organizational documents
of Borrower delivered to Bank on the Effective Date remain true, accurate and complete and have not been amended, supplemented or restated and are and continue to be in full force and effect; 

4.4 The execution and delivery by Borrower of this Amendment and the performance by Borrower of its obligations under the Loan
Agreement, as amended by this Amendment, have been duly authorized; 
 4.5 The execution and delivery by Borrower of this Amendment
and the performance by Borrower of its obligations under the Loan Agreement, as amended by this Amendment, do not and will not contravene (a) any law or regulation binding on or affecting Borrower, (b) any contractual restriction with a
Person binding on Borrower, (c) any order, judgment or decree of any court or other governmental or public body or authority, or subdivision thereof, binding on Borrower, or (d) the organizational documents of Borrower; 

 4.6 The execution and delivery by Borrower of this Amendment and the performance by
Borrower of its obligations under the Loan Agreement, as amended by this Amendment, do not require any order, consent, approval, license, authorization or validation of, or filing, recording or registration with, or exemption by any governmental or
public body or authority, or subdivision thereof, binding on Borrower, except as already has been obtained or made; and 
 4.7 This
Amendment has been duly executed and delivered by Borrower and is the binding obligation of Borrower, enforceable against Borrower in accordance with its terms, except as such enforceability may be limited by bankruptcy, insolvency, reorganization,
liquidation, moratorium or other similar laws of general application and equitable principles relating to or affecting creditors’ rights. 

5. Integration. This Amendment and 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 this Amendment and the Loan Documents merge into this Amendment and the Loan Documents.

 6. Counterparts. This Amendment may be executed in any number of counterparts and all of such counterparts taken together shall be
deemed to constitute one and the same instrument. 
 7. Effectiveness. This Amendment shall be deemed effective upon the due execution
and delivery to Bank of this Amendment by each party hereto. 
 [Signature page follows.] 

 IN WITNESS
WHEREOF, the parties hereto have caused this Amendment to be duly executed and delivered as of the date first written above. 
  

							
	BANK	  	BORROWER
		
	Silicon Valley Bank	  	Medallia, Inc.
				
	By:	 	 /s/ Ashlee Kaji
	  	By:	  	 /s/ Alan Grebene

	Name:	 	Ashlee Kaji	  	Name:	  	Alan Grebene
	Title:	 	Vice President	  	Title:	  	VP & GC

 AMENDMENT NO. 2 

TO 
 SECOND AMENDED AND
RESTATED 
 LOAN AND SECURITY AGREEMENT 

THIS AMENDMENT NO. 2 TO SECOND AMENDED AND RESTATED LOAN AND SECURITY AGREEMENT (this “Amendment”) is entered into this 15th
day of May, 2017, by and between Silicon Valley Bank (“Bank”) and Medallia, Inc., a Delaware corporation (“Borrower”) whose address is 395 Page Mill Road, Suite 100, Palo Alto, CA 94306. 

RECITALS 

A. Bank and Borrower have entered into that certain Second Amended and Restated Loan and Security Agreement dated as of
September 7, 2016 (as the same may from time to time be further amended, modified, supplemented or restated, the “Loan Agreement”). 

B. Bank has extended credit to Borrower for the purposes permitted in the Loan Agreement. 

C. Borrower has requested that Bank amend the Loan Agreement to extend the Revolving Line Maturity Date (as defined therein). 

D. Bank has agreed to so amend certain provisions of the Loan Agreement, but only to the extent, in accordance with the terms, subject
to the conditions and in reliance upon the representations and warranties set forth below. 
 AGREEMENT 

NOW, THEREFORE, in consideration of the foregoing recitals and other good and valuable
consideration, the receipt and adequacy of which is hereby acknowledged, and intending to be legally bound, the parties hereto agree as follows: 

1. Definitions. Capitalized terms used but not defined in this Amendment shall have the meanings given to them in the Loan Agreement.

 2. Amendments to Loan Agreement. 

2.1 Section 13.1 (Definitions). The following definition contained in Section 13.1 of the Loan Agreement is
hereby amended in its entirety and replaced with the following: 
 ““Revolving Line Maturity Date” is
September 7, 2018.” 
 3. Limitation of Amendment. 

3.1 The amendment set forth in Section 2, above, is effective for the purposes set forth herein and shall be
limited precisely as written and shall not be deemed to (a) be a consent to any amendment, waiver or modification of any other term or condition of any Loan Document, or (b) otherwise prejudice any right or remedy which Bank may now have
or may have in the future under or in connection with any Loan Document. 

 3.2 This Amendment shall be construed in connection with and as part of the Loan
Documents and all terms, conditions, representations, warranties, covenants and agreements set forth in the Loan Documents, except as herein amended, are hereby ratified and confirmed and shall remain in full force and effect. 

4. Representations and Warranties. To induce Bank to enter into this Amendment, Borrower hereby represents and warrants to Bank as
follows: 
 4.1 Immediately after giving effect to this Amendment (a) the representations and warranties contained in the Loan
Documents are true, accurate and complete in all material respects as of the date hereof (except to the extent such representations and warranties relate to an earlier date, in which case they are true and correct as of such date), and (b) no
Event of Default has occurred and is continuing; 
 4.2 Borrower has the power and authority to execute and deliver this Amendment and
to perform its obligations under the Loan Agreement, as amended by this Amendment; 
 4.3 The organizational documents of Borrower
delivered to Bank on the Effective Date remain true, accurate and complete and have not been amended, supplemented or restated and are and continue to be in full force and effect; 

4.4 The execution and delivery by Borrower of this Amendment and the performance by Borrower of its obligations under the Loan
Agreement, as amended by this Amendment, have been duly authorized; 
 4.5 The execution and delivery by Borrower of this Amendment
and the performance by Borrower of its obligations under the Loan Agreement, as amended by this Amendment, do not and will not contravene (a) any law or regulation binding on or affecting Borrower, (b) any contractual restriction with a
Person binding on Borrower, (c) any order, judgment or decree of any court or other governmental or public body or authority, or subdivision thereof, binding on Borrower, or (d) the organizational documents of Borrower; 

4.6 The execution and delivery by Borrower of this Amendment and the performance by Borrower of its obligations under the Loan
Agreement, as amended by this Amendment, do not require any order, consent, approval, license, authorization or validation of, or filing, recording or registration with, or exemption by any governmental or public body or authority, or subdivision
thereof, binding on Borrower, except as already has been obtained or made; and 
 4.7 This Amendment has been duly executed and
delivered by Borrower and is the binding obligation of Borrower, enforceable against Borrower in accordance with its terms, except as such enforceability may be limited by bankruptcy, insolvency, reorganization, liquidation, moratorium or other
similar laws of general application and equitable principles relating to or affecting creditors’ rights. 
 5. Integration. This
Amendment and 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 this Amendment and the Loan Documents merge into this Amendment and the Loan Documents. 
 6. Counterparts. This
Amendment may be executed in any number of counterparts and all of such counterparts taken together shall be deemed to constitute one and the same instrument. 

 7. Effectiveness. This Amendment shall be deemed effective upon the due execution and
delivery to Bank of this Amendment by each party hereto. 
 [Signature page follows.] 

 IN WITNESS
WHEREOF, the parties hereto have caused this Amendment to be duly executed and delivered as of the date first written above. 
  

							
	BANK	  	BORROWER
		
	Silicon Valley Bank	  	Medallia, Inc.
				
	By:	 	 /s/ Laura Gentile
	  	By:	  	 /s/ Alan Grebene

	Name:	 	Laura Gentile	  	Name:	  	Alan Grebene
	Title:	 	Vice President	  	Title:	  	VP & GC

  
 SIGNATURE
PAGE 
 AMENDMENT NO. 2 TO 

SECOND AMENDED AND RESTATED LOAN AND
SECURITY AGREEMENT 

 AMENDMENT NO. 3 

TO 
 SECOND AMENDED AND
RESTATED 
 LOAN AND SECURITY AGREEMENT 

THIS AMENDMENT NO. 3 TO SECOND AMENDED AND RESTATED LOAN AND SECURITY AGREEMENT (this “Amendment”) is entered into this 22
day of February, 2018, by and between Silicon Valley Bank (“Bank”) and Medallia, Inc., a Delaware corporation (“Borrower”) whose address is 450 Concar Drive, San Mateo, CA 94402. 

RECITALS 

A. Bank and Borrower have entered into that certain Second Amended and Restated Loan and Security Agreement dated as of
September 7, 2016 (as the same may from time to time be further amended, modified, supplemented or restated, the “Loan Agreement”). 

B. Bank has extended credit to Borrower for the purposes permitted in the Loan Agreement. 

C. Borrower has requested that Bank amend the Loan Agreement to make certain amendments to the agreements set forth therein. 

D. Bank has agreed to so amend certain provisions of the Loan Agreement, but only to the extent, in accordance with the terms, subject
to the conditions and in reliance upon the representations and warranties set forth below. 
 AGREEMENT 

NOW, THEREFORE, in consideration of the foregoing recitals and other good
and valuable consideration, the receipt and adequacy of which is hereby acknowledged, and intending to be legally bound, the parties hereto agree as follows: 

1. Definitions. Capitalized terms used but not defined in this Amendment shall have the meanings given to them in the Loan Agreement.

 2. Amendments to Loan Agreement. 

2.1 Section 13.1 (Definitions). The definition of “Permitted Indebtedness” in Section 13.1 of
the Loan Agreement is hereby amended by (i) deleting the “and” at the end of subsection (p), (ii) designating subsection (q) as a new subsection (r) and amending and restating such subsection in its entirety to read as
set forth below and (iii) adding a new subsection (q) to read as set forth below: 
 “(q) the Data Center Indebtedness; and

 (r) extensions, refinancings, modifications, amendments and restatements of any items of Permitted Indebtedness (a) through
(q) 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.” 

 2.2 Section 13.1 (Definitions). The definition of
“Permitted Liens” in Section 13.1 of the Loan Agreement is hereby amended by amending and restating subsection (c) thereof to read as set forth below: 

“(c) purchase money Liens (including capital leases) (i) in connection with the Data Center Indebtedness, (ii) on Equipment
acquired or held by Borrower incurred for financing the acquisition of the Equipment securing no more than Two Million Dollars ($2,000,000) in the aggregate amount outstanding, or (iii) existing on Equipment when acquired, in the case of each
of clauses (i), (ii) and (iii) hereof, if such Lien is confined to the property and improvements and the proceeds of the Equipment;” 

2.3 Section 13.1 (Definitions). Section 13.1 of the Loan Agreement is hereby further amended by adding the below
definition in the appropriate alphabetical order: 
 “Data Center Indebtedness” is Indebtedness incurred by Borrower in
respect of secured purchase money financing (including capital leases) in an aggregate amount not to exceed $10,000,000 with respect to any data center located in North America, Europe and Australia; 

3. Limitation of Amendment. 

3.1 The amendments set forth in Section 2, above, are effective for the purposes set forth herein and shall be
limited precisely as written and shall not be deemed to (a) be a consent to any amendment, waiver or modification of any other term or condition of any Loan Document, or (b) otherwise prejudice any right or remedy which Bank may now have
or may have in the future under or in connection with any Loan Document. 
 3.2 This Amendment shall be construed in connection with
and as part of the Loan Documents and all terms, conditions, representations, warranties, covenants and agreements set forth in the Loan Documents, except as herein amended, are hereby ratified and confirmed and shall remain in full force and
effect. 
 4. Representations and Warranties. To induce Bank to enter into this Amendment, Borrower hereby represents and warrants to
Bank as follows: 
 4.1 Immediately after giving effect to this Amendment (a) the representations and warranties contained in the
Loan Documents are true, accurate and complete in all material respects as of the date hereof (except to the extent such representations and warranties relate to an earlier date, in which case they are true and correct as of such date), and
(b) no Event of Default has occurred and is continuing; 
 4.2 Borrower has the power and authority to execute and deliver this
Amendment and to perform its obligations under the Loan Agreement, as amended by this Amendment; 
 4.3 The organizational documents
of Borrower delivered to Bank on the Effective Date remain true, accurate and complete and have not been amended, supplemented or restated other than as notified to the Bank and are and continue to be in full force and effect; 

4.4 The execution and delivery by Borrower of this Amendment and the performance by Borrower of its obligations under the Loan
Agreement, as amended by this Amendment, have been duly authorized; 

 4.5 The execution and delivery by Borrower of this Amendment and the performance by
Borrower of its obligations under the Loan Agreement, as amended by this Amendment, do not and will not contravene (a) any law or regulation binding on or affecting Borrower, (b) any contractual restriction with a Person binding on
Borrower, (c) any order, judgment or decree of any court or other governmental or public body or authority, or subdivision thereof, binding on Borrower, or (d) the organizational documents of Borrower; 

4.6 The execution and delivery by Borrower of this Amendment and the performance by Borrower of its obligations under the Loan
Agreement, as amended by this Amendment, do not require any order, consent, approval, license, authorization or validation of, or filing, recording or registration with, or exemption by any governmental or public body or authority, or subdivision
thereof, binding on Borrower, except as already has been obtained or made; and 
 4.7 This Amendment has been duly executed and
delivered by Borrower and is the binding obligation of Borrower, enforceable against Borrower in accordance with its terms, except as such enforceability may be limited by bankruptcy, insolvency, reorganization, liquidation, moratorium or other
similar laws of general application and equitable principles relating to or affecting creditors’ rights. 
 5. Integration. This
Amendment and 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 this Amendment and the Loan Documents merge into this Amendment and the Loan Documents. 
 6. Counterparts. This
Amendment may be executed in any number of counterparts and all of such counterparts taken together shall be deemed to constitute one and the same instrument. 

7. Effectiveness. This Amendment shall be deemed effective upon the due execution and delivery to Bank of this Amendment by each party
hereto. 

 IN WITNESS
WHEREOF, the parties hereto have caused this Amendment to be duly executed and delivered as of the date first written above. 
  

							
	BANK	  	BORROWER
		
	Silicon Valley Bank	  	Medallia, Inc.
				
	By:	 	 /s/ Charles Thor
	  	By:	  	 /s/ Michael Kourey

	Name:	 	Charles Thor	  	Name:	  	Michael Kourey
	Title:	 	Director	  	Title:	  	CFO

  
 SIGNATURE
PAGE 
 AMENDMENT NO. 2 TO 

SECOND AMENDED AND RESTATED LOAN AND
SECURITY AGREEMENT 

 AMENDMENT NO. 4 

TO 
 SECOND AMENDED AND
RESTATED 
 LOAN AND SECURITY AGREEMENT 

THIS AMENDMENT NO. 4 TO SECOND AMENDED AND RESTATED LOAN AND SECURITY AGREEMENT (this “Amendment”) is entered into this 25th
day of May, 2018, by and between Silicon Valley Bank (“Bank”) and Medallia, Inc., a Delaware corporation (“Borrower”) whose address is 450 Concar Drive, San Mateo, CA 94402. 

RECITALS 

A. Bank and Borrower have entered into that certain Second Amended and Restated Loan and Security Agreement dated as of
September 7, 2016 (as the same may from time to time be further amended, modified, supplemented or restated, the “Loan Agreement”). 

B. Bank has extended credit to Borrower for the purposes permitted in the Loan Agreement. 

C. Borrower has requested that Bank amend the Loan Agreement to make certain amendments to the agreements set forth therein. 

D. Bank has agreed to so amend certain provisions of the Loan Agreement, but only to the extent, in accordance with the terms, subject
to the conditions and in reliance upon the representations and warranties set forth below. 
 AGREEMENT 

NOW, THEREFORE, in consideration of the foregoing recitals and other good
and valuable consideration, the receipt and adequacy of which is hereby acknowledged, and intending to be legally bound, the parties hereto agree as follows: 

1. Definitions. Capitalized terms used but not defined in this Amendment shall have the meanings given to them in the Loan Agreement.

 2. Amendments to Loan Agreement. 

2.1 Section 2.1.2 (Letter of Credit Sublimit). Section 2.1.2(a) of the Loan Agreement is hereby amended by
amending and restating subsection (i) in its entirety to read as set forth below: 
 “(i) Fifty Million Dollars ($50,000,000),
or” 
 2.2 Section 2.1.3 (Term-Out). Section 2 of the Loan
Agreement is hereby amended by adding a new subsection 2.1.3 to read in its entirety as set forth below: 

 “2.1.3 Term-Out. 

(a) Notice. Provided no Default or Event of Default has occurred and is continuing and at any time prior to or on the Revolving Line
Maturity Date, the Borrower may, upon five (5) days’ prior written notice to Bank (such written notice, a “Term-Out Notice”), elect from time to time at its option (each a “Term-Out Option”) to have outstanding Revolving Loans in an aggregate amount not to exceed $15,000,000 converted to non-revolving term loans (each a “Term-Out Loan” and collectively, the “Term-Out Loans”); provided, that each such exercise shall result in the permanent reduction of the Revolving
Line in the amount of such Term-Out Loan and the Borrower may prepay, but may not reborrow, such Term-Out Loan. 

(b) Conditions Precedent. As a condition precedent to each Term-Out Loan, the Borrower shall
deliver to the Bank a certificate of the Borrower dated the effective date of the Term-Out Loan signed by an Authorized Officer, certifying that before and after giving effect to such Term-Out Loan, (A) the representations and warranties contained in Section 5 are true and correct in all material respects on and as of the effective date of the
Term-Out Loan, except to the extent that such representations and warranties specifically refer to an earlier date, in which case they were true and correct in all material respects as of such earlier date
provided, that the aforementioned materiality qualifier shall not apply to the extent any representations and warranties contain a materiality qualifier within such representation and warranty and (B) that no Default or Event of Default exists,
is continuing, or would result from the Term-Out Loan. 
 (c) Maturity. If Borrower has
provided a Term-Out Notice in accordance with the requirements of Section 2.1.3(a), then such Term-Out Loan shall mature on the applicable Term-Out Loan Maturity Date and the balance of the Revolving Line shall mature on the Revolving Line Maturity Date. 

(d) Principal Payments. Commencing on the first Payment Date of such Term-Out Loan and
continuing on the Payment Date of each month thereafter, such Term-Out Loan shall be repaid in consecutive monthly installments, each of which shall be in an amount equal to the
Term-Out Principal Payment. To the extent not previously paid, the balance of any outstanding Term-Out Loan shall be due and payable on the Term-Out Maturity Date, together with accrued and unpaid interest on the principal amount to be paid to but excluding the date of payment. 

(f) Interest Payments. With respect to each Term-Out Loan, commencing on the first Payment Date
of such Term-Out Loan and continuing on the Payment Date of each month thereafter, Borrower shall make monthly payments of interest, in arrears, on the principal amount of such
Term-Out Loan at the rate set forth in Section 2.3(a). 
 (g) Mandatory Prepayment Upon an
Acceleration. If the Term-Out Loans are accelerated by Bank following the occurrence and during the continuance of an Event of Default, Borrower shall immediately pay to Bank an amount equal to the sum of
(i) all outstanding principal plus accrued and unpaid interest with respect to the Term-Out Loans, and (ii) all other sums, if any, that shall have become due and payable with respect to the Term-Out Loans, including interest at the Default Rate with respect to any past due amounts.” 

2.3 Section 2.3 (Payment of Interest on Credit Extension). Section 2.3(a) of the Loan Agreement is hereby
amended by adding a new subsection (ii) thereto to read in its entirety as set forth below: 
 “(ii) Term-Out Loans. Subject to Section 2.3(b), the principal amount outstanding under each Term-Out Loan shall accrue interest at a floating per annum rate equal to the
Applicable Rate, which interest shall be payable monthly in accordance with Section 2.3(d) below.” 
 2.4
Section 2.4 (Fees). Section 2.4 of the Loan Agreement is hereby amended by amending and restating subsection (b) in its entirety to read as set forth below: 

 “(b) 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 (i) the applicable
percentage set forth under the heading “Unused Revolving Line Facility Percentage” set forth on the table in the definition of “Applicable Rate” times (ii) 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 (A) the lesser of (x) the Revolving Line (as it may be
reduced from time to time) or (y) the CMRR multiplied by the Advance Rate, and (B) the average for the period of the daily closing balance of the Revolving Line outstanding plus the aggregate amount of the outstanding Letters of Credit.
For the avoidance of doubt, the Unused Revolving Line Facility Fee shall be calculated prior to the effectiveness of this Amendment using the definition of the Revolving Line prior to the effectiveness of this Amendment;” 

2.5 Section 6.8 (Financial Covenants). Subsection (b) of Section 6.8 of the Loan Agreement is hereby amended and restated
in its entirety to read as set forth below: 
 “(b) Minimum Subscription Revenue. As of the last day of each quarter set forth
below, achieve software subscription revenue as reported under ASC 605 for such quarter of not less than the following amounts for Borrower and its Subsidiaries on a consolidated basis: 

 

					
	 Quarter Ending
	  	Minimum Subscription
Revenue	 
	 April 30, 2018
	  	$	43,875,000	 
	 July 31, 2018
	  	$	44,925,000	 
	 October 31, 2018
	  	$	46,950,000	 
	 January 31, 2019
	  	$	50,025,000	 
	 Thereafter
	  	 
	75% of the approved plan of
the Board of Directors of Borrower	 
 

 2.6 Section 8.1 (Payment Default). Section 8.1 of the Loan Agreement is hereby
amended and restated in its entirety to read as set forth below: 
 “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 or the Term-Out Loan 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);” 
 2.7 Section 12.1 (Termination Prior to
Maturity Date; Survival). Section 12.1 of the Loan Agreement is hereby amended by amending and restating the second sentence thereof to read as set forth below: 

“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 and the Term-Out Loan Maturity Date by Borrower in accordance with Section 2.4(a) hereof.” 

 2.8 Section 13.1 (Definitions). The definition of
“Applicable Rate” in Section 13.1 of the Loan Agreement is hereby amended and restated in its entirety to read as follows: 

“Applicable Rate” is, as of any date of determination, the applicable percentage per annum as set forth in the
following table that corresponds to (i) with respect to Advances, the Average Revolver Usage of Borrower for the most recently completed month as determined by Bank and (ii) with respect to Term-Out
Loans, the original principal amount of such Term-Out Loan: 
  

							
	 Average Revolver Usage or
 Term-Out Loan amount,
 if applicable
	  	Applicable Rate	 	Unused Revolving Line
Facility Percentage	 
	         < $5,000,000
	  	Prime Rate + 0.50%	 	 	0.30	% 
	         3
$5,000,000
 (greater than or equal to)
	  	Prime Rate	 	 	0.10	% 
	         3
$10,000,000
 (greater than or equal to)
	  	Prime Rate - 0.50%	 	 	0.00	% 

 For the avoidance of doubt, each Term-Out Loan shall incur interest at
the Applicable Rate for the original principal amount of such Term-Out Loan until it has been paid in full. 

2.9 Section 13.1 (Definitions). The definition of “Credit Extension” in Section 13.1 of the
Loan Agreement is hereby amended and restated in its entirety to read as set forth below: 
 “Credit Extension” is
any Advance, Overadvance, Term-Out Loan, Letter of Credit or any other extension of credit by Bank for Borrower’s benefit under this Agreement. 

2.10 The definition of “Data Center Indebtedness” in Section 13.1 of the Loan Agreement is hereby amended
by replacing “$10,000,000” with “$25,000,000”. 
 2.11 The definition of “Permitted Indebtedness”
in Section 13.1 of the Loan Agreement is hereby amended by amended and restating each of subsections (k), (n) and (p) in their entirety to read as set forth below: 

“(k) Indebtedness incurred by Foreign Subsidiaries in an aggregate amount not to exceed One Million Dollars ($1,000,000); 

(n) Indebtedness incurred by Borrower or any Subsidiary in the ordinary course of business under commercial credit card programs not to exceed
Four Million Five Hundred Thousand Dollars ($4,500,000); 
 (p) other Indebtedness of Borrower or any of its Subsidiaries not otherwise
permitted by this definition in an aggregate principal amount not to exceed One Million Five Hundred Thousand Dollars ($1,500,000) at any time; and”   

 2.12 Section 13.1 (Definitions). The definition of
“Revolving Line” in Section 13.1 of the Loan Agreement is hereby amended and restated in its entirety to read as set forth below: 

“Revolving Line” is an aggregate principal amount not to exceed Fifty Million Dollars ($50,000,000) as permanently reduced by
any Term-Out Loans. 
 2.13 Section 13.1 (Definitions). The definition of
“Revolving Line Maturity Date” in Section 13.1 of the Loan Agreement is hereby amended and restated in its entirety to read as set forth below: 

“Revolving Line Maturity Date” is September 7, 2020. 

2.14 Section 13.1 (Definitions). Section 13.1 of the Loan Agreement is hereby amended by adding the following
defined terms in their appropriate alphabetical order: 
 “Amendment No. 4 Effective Date” shall mean
May 25, 2018. 
 “Average Revolver Usage” means, with respect to any period, the average for the period of the daily
closing balance of the Revolving Line outstanding divided by the number of days in such period. 
 “Payment Date” is,
commencing in the month following the month in which such Term-Out Loan was made, the first (1st) calendar day of such month. 

“Term-Out Loan”: as defined in Section 2.1.3(a). 

“Term-Out Loan Maturity Date”: is the date that is the earliest to occur between
(i) the date that is forty-eight (48) months after such Term-Out Loan was made and (ii) September 7, 2023. 

“Term-Out Notice”: as defined in Section 2.1.3(a). 

“Term-Out Option”: as defined in Section 2.1.3(a). 

“Term-Out Principal Payment”: an amount equal to 1/48th of the principal amount of
such Term-Out Loan (or such amount as shall equal the fraction necessary to amortize the outstanding principal amount thereof in an equal number of monthly payments prior to the
Term-Out Maturity Date). 
 2.15 Exhibit C (Compliance Certificate). The
“Performance Pricing” section on Exhibit C to the Loan Agreement is hereby amended and restated to read as set forth below: 
  

							
	 Performance Pricing
	  	 	 	Applies
	 Aggregate Revolver Usage/Term-Out Loan amount

                   
           < $5,000,000
	 	 

                 
   
	  	Prime Rate + 0.50%	 	Yes  No
	 Aggregate Revolver Usage/Term-Out Loan amount

                   
           3 $5,000,000

                   
   (greater than or equal to)
	 		  	Prime Rate	 	Yes  No
	 Aggregate Revolver Usage/Term-Out Loan amount

                   
           3 $10,000,000

                   
   (greater than or equal to)
	 		  	Prime Rate - 0.50%	 	Yes  No

 3. Limitation of Amendment. 

3.1 The amendments set forth in Section 2, above, are effective for the purposes set forth herein and shall be
limited precisely as written and shall not be deemed to (a) be a consent to any amendment, waiver or modification of any other term or condition of any Loan Document, or (b) otherwise prejudice any right or remedy which Bank may now have
or may have in the future under or in connection with any Loan Document. 
 3.2 This Amendment shall be construed in connection with
and as part of the Loan Documents and all terms, conditions, representations, warranties, covenants and agreements set forth in the Loan Documents, except as herein amended, are hereby ratified and confirmed and shall remain in full force and
effect. 
 4. Representations and Warranties. To induce Bank to enter into this Amendment, Borrower hereby represents and warrants to
Bank as follows: 
 4.1 Immediately after giving effect to this Amendment (a) the representations and warranties contained in the
Loan Documents are true, accurate and complete in all material respects as of the date hereof (except to the extent such representations and warranties relate to an earlier date, in which case they are true and correct as of such date) and except as
amended by a Perfection Certificate dated as of the date hereof, and (b) no Event of Default has occurred and is continuing; 
 4.2
Borrower has the power and authority to execute and deliver this Amendment and to perform its obligations under the Loan Agreement, as amended by this Amendment; 

4.3 The organizational documents of Borrower delivered to Bank on the Effective Date remain true, accurate and complete and have not
been amended, supplemented or restated other than as notified to the Bank and are and continue to be in full force and effect; 
 4.4
The execution and delivery by Borrower of this Amendment and the performance by Borrower of its obligations under the Loan Agreement, as amended by this Amendment, have been duly authorized; 

4.5 The execution and delivery by Borrower of this Amendment and the performance by Borrower of its obligations under the Loan
Agreement, as amended by this Amendment, do not and will not contravene (a) any material Requirement of Law, (b) any contractual restriction with a Person binding on Borrower, (c) any order, judgment or decree of any court or other
governmental or public body or authority, or subdivision thereof, binding on Borrower, or (d) the organizational documents of Borrower; 

4.6 The execution and delivery by Borrower of this Amendment and the performance by Borrower of its obligations under the Loan
Agreement, as amended by this Amendment, do not require any order, consent, approval, license, authorization or validation of, or filing, recording or registration with, or exemption by any governmental or public body or authority, or subdivision
thereof, binding on Borrower, except as already has been obtained or made; and 
 4.7 This Amendment has been duly executed and
delivered by Borrower and is the binding obligation of Borrower, enforceable against Borrower in accordance with its terms, except as such enforceability may be limited by bankruptcy, insolvency, reorganization, liquidation, moratorium or other
similar laws of general application and equitable principles relating to or affecting creditors’ rights. 

 5. Integration. This Amendment and 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 this Amendment and the Loan Documents merge
into this Amendment and the Loan Documents. 
 6. Counterparts. This Amendment may be executed in any number of counterparts and all
of such counterparts taken together shall be deemed to constitute one and the same instrument. 
 7. Effectiveness. This Amendment
shall be deemed effective upon the due execution and delivery to Bank of this Amendment by each party hereto. 
 8. Governing Law.
THIS AMENDMENT SHALL BE GOVERNED BY AND SHALL BE CONSTRUED AND ENFORCED IN ACCORDANCE WITH THE LAWS OF THE STATE OF CALIFORNIA WITHOUT GIVING EFFECT TO PRINCIPLES OF CONFLICT OF LAW. Borrower and Bank each submit to the exclusive jurisdiction of the
State and Federal courts in Santa Clara County, California. 

 IN WITNESS
WHEREOF, the parties hereto have caused this Amendment to be duly executed and delivered as of the date first written above. 
  

							
	BANK	  	BORROWER
		
	Silicon Valley Bank	  	Medallia, Inc.
				
	By:	 	 /s/ Charles Thor
	  	By:	  	 /s/ Michael Kourey

	Name:	 	Charles Thor	  	Name:	  	Michael Kourey
	Title:	 	Director	  	Title:	  	CFO

  
 SIGNATURE
PAGE 
 AMENDMENT NO. 2 TO 

SECOND AMENDED AND RESTATED LOAN AND
SECURITY AGREEMENT

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00297-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00297-of-00352.parquet"}]]