Document:

Prepared by MERRILL CORPORATION www.edgaradvantage.com

   COBALT EMPLOYMENT AGREEMENT  

    THIS EMPLOYMENT AGREEMENT (the "Agreement") is made as of January 14, 2000, by and between The Cobalt Group, Inc. ("Company"), and Kevin
Distelhorst, a resident of the State of Ohio (the "Employee"). 

    Company
and the Employee agree as follows: 

ARTICLE 1.

Purpose  

    The purpose of this Agreement is to describe the terms and conditions of employment applicable to the Employee and to describe the severance benefits available
to the Employee in the event of termination. 

ARTICLE 2.

Employment; Duties  

    2.1   Employment. Company employs the Employee as Director, National Accounts, and the Employee accepts
such employment, upon the terms and conditions of this Agreement. 

    2.2   Duties. The duties to be performed by the Employee under this Agreement are such duties as are
normally performed by a Director, National Accounts and those additional duties that Company's chief executive officer (or his delegate) may reasonably prescribe from time to time. In addition,
Company reserves the right to reassign Employee to another position and to change the reporting structure that applies to Employee. 

    2.3   Hours and Commitment. During the Term of this Agreement (as defined below), the Employee agrees to
devote his full attention and working time to the business and affairs of Company (except for vacations and reasonable periods of illness or incapacity) and to use his best efforts to perform
faithfully and efficiently such duties under this Agreement. Company's chief executive officer (or his delegate) may permit the Employee to take on specific employment in addition to employment at
Company if the chief executive officer determines that such additional employment will not adversely affect the Employee's ability to perform his duties for Company and executes a specific waiver for
a limited period of time in writing. 

ARTICLE 3.

Term of Agreement  

    This Agreement begins on the date of this Agreement and ends as provided in Article 6 (the "Term"). 

ARTICLE 4.

Compensation  

    4.1   Base Salary. For services rendered by the Employee under this Agreement, Company agrees to pay to
the Employee, and the Employee agrees to accept, a base salary ("Base Salary") of $100,000. Company shall pay the Employee's Base Salary in installments not less frequently than monthly, less all
amounts required by law to be withheld, deducted or collected, in accordance with Company's normal payroll policies for similarly situated employees, as such policies may be changed from time to time. 

    4.2   Optional Increases. Company may from time to time increase the Employee's Base Salary, and the term
"Base Salary" as used in this Agreement shall refer to the Base Salary as so increased. 

    4.3   Bonus Plan. In addition to the Base Salary, the Employee will be eligible to participate in a bonus
plan, such plan to be instituted by the Company during Employee's employment. This bonus 

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plan will provide Employee with the potential to earn up to twenty (20) percent of his base salary in bonus compensation. 

    4.4   Stock Options. In addition to the Base Salary, upon commencement of employment pursuant to this
Agreement, the Employee shall be granted options to acquire 10,000 shares of common stock of the Company pursuant to The Cobalt Group, Inc. 1995 Stock Option Plan (the "Options"). The Options
shall vest over a four year period and be subject to such further terms and conditions as set forth in this Agreement and in the stock option agreement attached hereto as Exhibit A. 

ARTICLE 5.

Other Benefits  

    5.1   Savings and Retirement Plans. The Employee shall be entitled to participate in all savings and
retirement plans or programs applicable to other similarly situated employees of Company. 

    5.2   Welfare Benefits. The Employee and his family shall be eligible for participation in, and shall
receive all benefits under, welfare benefit plans, practices, policies, and programs provided by Company to other similarly situated employees of Company. These may, but will not necessarily include
medical and dental insurance, long-term disability insurance, group life insurance plans and programs. 

    5.3   Fringe Benefits. The Employee shall be entitled to fringe benefits applicable to other similarly
situated employees of Company. 

    5.4   Expenses. The Employee shall be entitled to receive prompt reimbursement for all reasonable
employment-related expenses incurred by the Employee upon Company's receipt of accountings in accordance with practices, policies, and procedures applicable to similarly situated employees of Company. 

    5.5   Vacation and Sick Leave. The Employee shall be entitled to three (3) weeks of paid vacation
and sick leave in accordance with the plans, policies, and programs applicable to other similarly situated employees of Company, including such increases in vacation and sick leave time as are
provided for under such plans, policies and programs. In calculating such increases in vacation and sick leave time, the Employee shall be credited with the Employee's period of employment with
IntegraLink, LLC. 

    5.6   Changes in Benefits. As any of the forgoing benefits are enhanced, diminished, modified or
eliminated for all other similarly situated employees, the same changes shall apply to the Employee, with the exception of those benefits provided for in Section 5.5, which shall not be
diminished or eliminated. Company may offer individual benefit arrangements where Company believes it necessary to attract or retain key employees without having to extend such individual arrangements
to other executive employees. 

ARTICLE 6.

Termination  

    6.1   Termination of Employment. Employee's employment shall end on the third anniversary of the date of
this Agreement (the "Employment Period"), provided, however, that the Employment Period may be extended for such additional periods thereafter and on such terms as the Company and the Employee may
agree. The Employee's employment may be terminated by the Company at any time for Cause (as defined below) or without Cause. The Employee's employment may be terminated by the Employee at any time.
The Employee shall provide Company with at least 30 days advance notice in writing of Employee's intention to terminate employment, unless Company agrees to waive the requirement. 

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    6.2   Termination for Cause. Company may terminate the Employee's employment at any time for Cause. For
purposes of this Agreement, the term "Cause" shall include: continued neglect or failure to perform the duties, functions and responsibilities of his position, after written notice thereof, which
notice specifies the instance(s) of the Employee's neglect or failure to perform satisfactorily; or willful misconduct by the Employee with respect to his duties and obligations under this Agreement;
unauthorized expenditure of Company's funds without a plausible basis to believe such expenditure was authorized; practices in contravention of the Company's stated policies; misappropriation of
Company's assets; any material breach by the Employee of any term or provision of this Agreement that Employee fails to cure within 10 days after written notice thereof; any act or action of
the Employee during the Term of the Agreement involving embezzlement, dishonesty related to Company or Company's business, or habitual use of alcohol or drugs; conviction of any felony; or any similar
or related act or failure to act by the Employee. Upon termination for Cause, the Employee shall not be entitled to payment of any compensation other than Base Salary and accrued benefits under this
Agreement earned up to the date of such termination. 

    6.3   Termination without Cause. Company may terminate the Employee's employment at any time without
Cause. Termination without Cause shall include, but not be limited to, the following: (i) the termination of Employee's employment by the Company after Employee's refusal to agree to the
Company's
request to relocate or spend a substantial and continuous portion of his time at a location more than thirty (30) miles from the Company's present Columbus location, or (ii) the election
by the Employee to terminate his employment upon the Company's institution of a substantial dimunition in Employee's responsibilities or authority. The Employee acknowledges that Employee's employment
may require intensive travel during limited periods of time. In the event of any such termination, the Employee shall be entitled to receive from Company the following, payable in accordance with the
normal payroll practices of Company for similarly situated employees, including deductions, withholdings, and collections as required by law: 

    6.3.1  His
Base Salary, at the rate in effect as of the termination date, payable in accordance with Section 4.1 above, for the remaining time in
the Employment Period. 

    6.3.2  An
amount equal to the premiums that Employee would be required to pay if Employee elected to continue Employee-only medical and
dental coverage under Company's medical and dental plans pursuant to section 4980B of the Internal Revenue Code ("COBRA") for the remaining time in the Employment Period or the period in which
COBRA benefits are available, whichever period is longer. Company may pay such amounts in a lump sum upon termination or in monthly installments. 

    6.3.3  To
the extent permitted under any group insurance policy providing such benefits to the Employee, the Employee shall be entitled to convert
coverage for long term disability insurance and group term life insurance to an individual policy of insurance. 

    6.3.4  Accrued
unused vacation leave up to the maximum permitted by Company's vacation policy shall be paid to the Employee upon termination of
employment at the rate of annual salary in effect on the date of termination of employment. 

    6.3.5  Any
amount payable pursuant to this Section 6.3, together with any compensation pursuant to Article 4 that is payable for services
rendered through the effective date of termination, shall constitute the sole obligation of Company payable with respect to the termination of the Employee as provided in this Section 6.3. The
Employee shall not be required to mitigate the amount of any payment provided for in this Section 6.3 by seeking other employment or otherwise, nor shall the amount of any payment provided for
in Section 6.3 be reduced by any compensation earned by the Employee as a result of employment by another company, self-employment or otherwise. 

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    6.4   Protected Information. 

    6.4.1  Covenant. Either during or after expiration of the Employment Period, the Employee shall not,
directly or indirectly, divulge, furnish or make accessible to any person, firm, corporation, association or other entity, or use in any manner, any Protected Information (as defined below), or cause
any Protected Information to enter the public domain, except as may be required in the regular course of the Employee's employment by the Company. 

    6.4.2  Access to Protected Information. The Company has advised the Employee and the Employee has
acknowledged that it is the policy of the Company to maintain as secret and confidential all Protected Information, and that Protected Information has been and will be developed at substantial cost
and effort to the Company. The Employee acknowledges that he will acquire Protected Information with respect to the Company, which information is a valuable, special, and unique asset of the Company's
business and operations, and that disclosure of such Protected Information would cause irreparable damage to the Company. 

    6.4.3  Employee-Created Protected Information. The Employee agrees to promptly disclose to the Company
all Protected Information developed in whole or in part by the Employee during his employment with the Company and which relates to the Company's business. Such Protected Information is, and shall
remain, the exclusive property of the Company. All writings created during the Employee's employment with the Company (excluding writings unrelated to the Company's business) are considered to be
"works-for-hire" for the benefit of the Company, and the Company shall own all rights in such writings. Washington law requires the following notice to be given to the
Employee: 

This
Agreement does not require the Employee to assign to the Company any invention by the Employee for which no equipment, supplies, facility or trade secret information of the Company was used and
which was developed entirely on the Employee's own time unless the invention related (i) directly to the Company's business, or (ii) to
the Company's actual or demonstrably anticipated research or development, or (iii) the development results from any work performed by the Employee for the Company. 

    6.4.4  Return of Confidential Records. All forms of information and all physical property made or
compiled by the Employee prior to or during the Employment Period containing or relating in any way to Protected Information shall be the Company's exclusive property. All such materials and any
copies thereof shall be held by the Employee in trust solely for the benefit of the Company and shall be delivered to the Company upon expiration of the Employment Period, or at any other time upon
the Company's request. 

    6.4.5  Protected Information. "Protected Information" means trade secrets, confidential and propriety
business information of the Company, any information of the Company other than information which has entered the public domain (unless the Employee caused such information to enter the public domain)
and all valuable and unique information and techniques acquired, developed or used by the Company relating to its business, operations, employees, customers and suppliers, which give the Company a
competitive advantage over those who do not know the information and techniques and which are protected by the Company from unauthorized disclosure, including but not limited to, customer lists
(including potential customers), sources of supply, processes, patented or proprietary technologies, plans, materials, pricing information, internal memoranda, marketing plans, internal policies, and
products and services which may be developed from time to time by the Company and its agents or employees. 

    6.5   Non-Competition. 

    6.5.1  Covenant. The Employee agrees that, while Employee is employed by the Company (or the expiration
of Company's obligations under Section 6.3, if longer) and for a period of two years 

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thereafter, he will not (i) directly or indirectly, in any capacity, engage or participate in, or become employed by or render advisory or consulting or other services in connection with any
Prohibited Business, as defined below, or (ii) make any financial investment, whether in the form of equity or debt, or own any interest, directly or indirectly, in any Prohibited Business. 

    6.5.2  Exception. Nothing in this Section 6.5 shall restrict the Employee from making any
investment in any company whose stock is listed on a national securities exchange or actively traded in the over-the-counter market; provided that (i) such investment
does not give the Employee the right or ability to control or influence the policy decisions of any Prohibited Business, and (ii) such investment does not create a material conflict of interest
between the Employee's duties hereunder and the Employee's interest in such investment. 

    6.5.3  Prohibited Business. "Prohibited Business" means any business entity providing data collection
from automotive retailer systems or whose activities or products are directly and substantially competitive with those of the Company and which has contact, or seeks to establish contact (including
without limitation by making or soliciting sales or submitting bids), with any business or governmental entity in North America that is, at any time, a customer of the Company. 

    6.6   Non-Interference with Employment Relationships. The Employee agrees that during the
Employment Period and for a period of two years after the expiration of the Agreement, he will not (i) directly or indirectly solicit, induce, or encourage any employee of the Company to leave
his or her employment with the Company or interfere with any employment relationship between the Company and any of its employees, or (ii) hire or encourage or assist any other person to hire
any person who has been an employee of the Company within the previous six months. 

    6.7   Disclosure of Business Opportunities. The Employee agrees to promptly and fully disclose to the
Company, and not to divert to his own use or benefit or the use or benefit of others, any business opportunities involving any existing or prospective line of business of the Company. 

    6.8   Survival of Undertakings and Injunctive Relief. 

    6.8.1  Survival. The provisions of Sections 6.4, 6.5, 6.6, and 6.7 shall survive the expiration of the
Agreement, irrespective of the reasons therefor. In the event of any such violation of Sections 6.4, 6.5, 6.6, and 6.7, the Employee further agrees that the time periods set forth in such sections
shall be extended by the period of such violation. 

    6.8.2  Injunctive Relief. The Employee acknowledges and agrees that the restrictions imposed upon him by
Sections 6.4, 6.5, 6.6, and 6.7 and the purpose of such restrictions are reasonable and are designed to protect the Protected Information and the continued success of the Company without unduly
restricting the Employee's future employment by others. Furthermore, the Employee acknowledges that, in view of the Protected Information which the Employee has or will acquire or has or will have
access to, and in view of the necessity of the restrictions contained in Sections 6.4, 6.5, 6.6, and 6.7, any violation of any provision of Sections 6.4, 6.5, 6.6, and 6.7 hereof would cause
irreparable injury to the Company with respect to the resulting disruption in their operations. By reason of the foregoing, the Employee consents and agrees that if the Employee violates any of the
provisions of Sections 6.4, 6.5, 6.6, and 6.7, the Company shall be entitled, in addition to any other remedies that it may have, including money damages, to an injunction to be issued by a court of
competent jurisdiction, restraining the Employee from committing or continuing any violation of such sections of this Agreement. 

    6.9   References to the Company. All references to the Company in this Article 6 shall be deemed
to include any predecessor, subsidiary, parent, successor in interest, or other affiliate of the Company. 

    6.10   Notice of Termination. Any purported termination of the Employee's employment by Company or by the
Employee shall be communicated by written Notice of Termination to the other 

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party hereto in accordance with Section 7.5. "Notice of Termination" shall mean a notice that shall indicate the specific termination provision in this Agreement relied upon and shall set forth
in reasonable detail the facts and circumstances claimed to provide a basis for termination of the Employee's employment under the provision so indicated. 

    6.11   Date of Termination. "Date of Termination" shall mean the following: 

    6.11.1  If
the Employee's employment is terminated by Company for any reason, the date specified in the Notice of Termination. 

    6.11.2  In
the case of a termination by the Employee, the date specified in the Notice of Termination but not less than thirty (30) nor more than
sixty (60) days from the date such Notice of Termination is given. 

ARTICLE 7.

Miscellaneous  

    7.1   Assignment, Successors. Company may freely assign its rights and obligations under this Agreement
to a successor of Company's business, without the prior written consent of the Employee. This Agreement shall be binding upon and inure to the benefit of the Employee and the Employee's estate and
Company and any assignee of or successor to Company. 

    7.2   Nonalienation of Benefits. Benefits payable under this Agreement shall not be subject in any manner
to anticipation, alienation, sale, transfer, assignment, pledge, encumbrance, charge, garnishment, execution or levy of any kind, either voluntary or involuntary, prior to actually being received by
the Employee, and any such attempt to dispose of any right to benefits payable under this Agreement shall be void. 

    7.3   Severability. If all or any part of this Agreement is declared by any court or governmental
authority to be unlawful or invalid, such unlawfulness or invalidity shall not serve to invalidate any portion of this Agreement not declared to be unlawful or invalid. Any paragraph or part of a
paragraph so declared to
be unlawful or invalid shall, if possible, be construed in a manner which will give effect to the terms of such paragraph or part of a paragraph to the fullest extent possible while remaining lawful
and valid. 

    7.4   Amendment and Waiver. This Agreement shall not be altered, amended or modified except by written
instrument executed by Company and the Employee. A waiver of any term, covenant, agreement or condition contained in this Agreement shall not be deemed a waiver of any other term, covenant, agreement
or condition, and any waiver of any other term, covenant, agreement or condition, and any waiver of any default in any such term, covenant, agreement or condition shall not be deemed a waiver of any
later default thereof or of any other term, covenant, agreement or condition. 

    7.5   Notices. All notices and other communications hereunder shall be in writing and either hand
delivered or delivered by overnight courier or first class registered or certified mail, return receipt requested, postage prepaid, addressed as follows: 

	 	 	If to the Employee:	 	 
	 	 	 	 	

	

 	
 	

 	
 	

	

 	
 	

 	
 	

	 	 	If to Company:	 	The Cobalt Group, Inc.

2200 First Avenue South

Seattle, Washington 98134

Attn: Chief Executive Officer

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Company or the Employee may from time to time designate a new address by notice given in accordance with this section. Notice and communications shall be effective when
actually received by the addressee. 

    7.6   Applicable Law. The provisions of this Agreement shall be interpreted and construed in accordance
with the laws of the State of Washington, without regard to its choice of law principles. 

    7.7   Effect on Other Agreements. This Agreement shall supersede all prior agreements, promises, and
representations regarding employment by Company and severance or other payments contingent upon termination of employment. 

    7.8   Counterpart Originals. This Agreement may be executed in several counterparts, each of which shall
be deemed to be an original but all of which together will constitute one and the same instrument. 

    7.9   Entire Agreement. This Agreement forms the entire agreement between the parties hereto with respect
to any severance payment and with respect to the subject matter contained in this Agreement. 

    Executed
as of the date first written above. 

	Company:	 	Employee:
	

By:	
 	

/s/ JOHN W.P. HOLT   	
 	

/s/ KEVIN DISTELHORST   
	 	 	
	 	

	 	 	Chief Executive Officer	 	Kevin Distelhorst

7Prepared by MERRILL CORPORATION www.edgaradvantage.com

   EXHIBIT 10.11  

Silicon Valley Bank  

Loan and Security Agreement  

	Borrower:	 	The Cobalt Group, Inc.

PartsVoice, LLC

IntegraLink Corporation
	

Address:	
 	

2200 First Avenue South

Seattle, WA 98134
	

Date:	
 	

March 8, 2001

    THIS LOAN AND SECURITY AGREEMENT is entered into on the above date between SILICON VALLEY BANK, COMMERCIAL FINANCE DIVISION
("Silicon"), whose address is 3003 Tasman Drive, Santa Clara, California 95054 and the borrower(s) named above (jointly and severally, the "Borrower"), whose chief executive office is located at the
above address ("Borrower's Address"). The Schedule to this Agreement (the "Schedule") shall for all purposes be deemed to be a part of this Agreement, and the same is an integral part of this
Agreement. (Definitions of certain terms used in this Agreement are set forth in Section 8 below.) 

      1.  LOANS.  

    1.1    Loans.  Silicon will make loans to Borrower (the
"Loans"), in amounts determined by Silicon in its*, up to the amounts (the "Credit Limit") shown on the Schedule, provided no Default or Event of
Default has occurred and is continuing, and subject to deduction of any Reserves for accrued interest and such other Reserves as Silicon deems proper from time to
time**. 

    *good-faith business judgment,  

    **including, without limitation, a deferred revenue reserve in an amount of $542,000, which amount may be adjusted by Silicon, in its discretion, as it deems
proper from time to time

    1.2    Interest.  All Loans and all other monetary
Obligations shall bear interest at the rate shown on the Schedule, except where expressly set forth to the contrary in this Agreement. Interest shall be payable monthly, on the last day of the month.
Interest may, in Silicon's discretion, be charged to Borrower's loan account, and the same shall thereafter bear interest at the same rate as the other Loans. Silicon may, in its discretion, charge
interest to Borrower's Deposit Accounts maintained with Silicon. Regardless of the amount of Obligations that may be outstanding from time to time, Borrower shall pay Silicon minimum monthly interest
during the term of this Agreement in the amount set forth on the Schedule (the "Minimum Monthly Interest"). 

    1.3    Overadvances.  If at any time or for any reason the
total of all outstanding Loans and all other Obligations exceeds the Credit Limit (an "Overadvance"), Borrower shall immediately pay the amount of the excess to Silicon, without notice or demand.
Without limiting Borrower's obligation to repay to Silicon on demand the amount of any Overadvance, Borrower agrees to pay Silicon interest on the outstanding amount of any Overadvance, on demand, at
a rate equal to the interest rate which would otherwise be applicable to the Overadvance, plus an additional 2% per annum. 

    1.4    Fees.  Borrower shall pay Silicon the fee(s) shown
on the Schedule, which are in addition to all interest and other sums payable to Silicon and are not refundable. 

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    1.5    Letters of Credit.  [Not
Applicable]* 

    *1.6    Cash Management Services.  Borrower may use up to
$300,000 (the "Cash Management Sublimit") for Silicon's Cash Management Services (as defined below), including, merchant services, business credit card, ACH and other services identified in the cash
management services agreement related to such service (the "Cash Management Services"). Silicon may, in its*, reserve against Loans which would
otherwise be available hereunder such sums as Silicon shall determine in connection with the Cash Management Services, and Silicon may charge to Borrower's Loan account, any amounts that may become
due or owing to Silicon in connection with the Cash Management Services. Borrower agrees to execute and deliver to Silicon all standard form applications and agreements, including without limitation,
an indemnification and pledge agreement, of Silicon in connection with the Cash Management Services and, without limiting any of the terms of such applications and agreements, Borrower will pay all
standard fees and charges of Silicon in connection with the credit card services and, without limiting any of the terms of such applications and agreements, Borrower will pay all standard fees and
charges of Silicon in connection with the Cash Management Services. The Cash Management Services shall terminate on the Maturity Date. 

    *good-faith business judgment  

      2.  SECURITY INTEREST.  

    2.1    Security Interest.  To secure the payment and
performance of all of the Obligations when due, Borrower hereby grants to Silicon a security interest in all of Borrower's interest in the following, whether now owned or hereafter acquired, and
wherever located: All Inventory, Equipment, Receivables, and General Intangibles, including, without limitation, all of Borrower's Deposit Accounts, and all money, and all property now or at any time
in the future in Silicon's possession (including claims and credit balances), and all proceeds (including proceeds of any insurance policies, proceeds of proceeds and claims against third parties),
all products and all books and records related to any of the foregoing (all of the foregoing, together with all other property in which Silicon may now or in the future be granted a lien or security
interest, is referred to herein, collectively, as the "Collateral"). 

      3.  REPRESENTATIONS, WARRANTIES AND COVENANTS OF THE
BORROWER.  

    In
order to induce Silicon to enter into this Agreement and to make Loans, Borrower represents and warrants to Silicon as follows, and Borrower covenants that the following
representations will continue to be true, and that Borrower will at all times comply with all of the following covenants: 

    3.1    Corporate Existence and Authority.  Borrower, if a
corporation*, is and will continue to be, duly organized, validly existing and in good standing under the laws of the jurisdiction of its
incorporation**. Borrower is and will continue to be qualified and licensed to do business in all jurisdictions in which any failure to do so would have
a*** on Borrower. The execution, delivery and performance by Borrower of this Agreement, and all other documents contemplated hereby (i) have
been duly and validly authorized, (ii) are enforceable against Borrower in accordance with their terms (except as enforcement may be limited by equitable principles and by bankruptcy,
insolvency, reorganization, moratorium or similar laws relating to creditors' rights generally), and (iii) do not violate Borrower's articles or certificate of incorporation, or Borrower's
by-laws****, or any law or any material agreement or instrument which is binding upon Borrower or its property, and (iv) do not
constitute grounds for acceleration of any material indebtedness or obligation under any material agreement or instrument which is binding upon Borrower or its property. 

    *or a limited liability company, as the case may be,  

    **or organization, as the case may be  

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    ***Material Adverse Effect  

    ****in the case of a corporation, or Borrower's certificate of formation, or Borrower's operating agreement, in the case of a limited liability
company,

    3.2    Name; Trade Names and Styles.  The name of Borrower
set forth in the heading to this Agreement is its correct name. Listed on the Schedule are all prior names of Borrower and all of Borrower's present and prior trade names. Borrower shall give Silicon
30 days' prior written notice before changing its name or doing business under any other name. Borrower has complied, and will in the future comply, with all laws relating to the conduct of
business under a fictitious business name. 

    3.3    Place of Business; Location of Collateral.  The
address set forth in the heading to this Agreement is Borrower's chief executive office. In addition, Borrower has places of business, and Collateral is located, only at the locations set forth on the
Schedule*. Borrower will give Silicon at least 30 days' prior written notice before opening any additional place of business, changing its chief
executive office, or moving any of the Collateral to a location other than Borrower's Address or one of the locations set forth on the Schedule. 

    *(except for laptop computers, and other portable Equipment in transit and temporarily used away from such locations in the ordinary course of business  provided that the value of
such laptop computers and other portable Equipment is, and shall throughout the term of this Agreement be,
deminimus)

    3.4    Title to Collateral; Permitted Liens.  Borrower is
now, and will at all times in the future be, the sole owner of all the Collateral, except for items of Equipment which are leased by Borrower*. The
Collateral now is and will remain free and clear of any and all liens, charges, security interests, encumbrances and adverse claims, except for Permitted Liens. Silicon now has, and will continue to
have, a first-priority perfected and enforceable security interest in all of the Collateral, subject only to the Permitted Liens, and Borrower will at all times defend Silicon and the Collateral
against all claims of others. **of the Collateral now is or will be affixed to any real property in such a manner, or with such intent, as to become a
fixture***. Borrower is not and will not become a lessee under any real property lease pursuant to which the lessor may obtain any rights in any of the
Collateral and no such lease now prohibits, restrains, impairs or will prohibit, restrain or impair Borrower's right to remove any Collateral from the leased premises. Whenever any Collateral is
located upon premises in which any third party has an interest (whether as owner, mortgagee, beneficiary under a deed of trust, lien or otherwise), Borrower shall, whenever requested by Silicon, use
its best efforts to cause such third party to execute and deliver to Silicon, in form acceptable to Silicon, such waivers and subordinations as Silicon shall specify, so as to ensure that Silicon's
rights in the Collateral are, and will continue to be, superior to the rights of any such third party. Borrower will keep in full force and effect, and will comply with all the terms of, any lease of
real property where any of the Collateral now or in the future may be located. 

    *and intellectual property Collateral licensed by Borrower from others and the following jointly owned Collateral: (i) the MotorPlace Auto Exchange
software (jointly owned with General Electric) and (ii) various training materials (jointly owned with JD Power and Associates)

    **Except for Collateral with an aggregate maximum value of $25,000, none  

    ***unless prior to such Collateral becoming a fixture, Borrower shall have procured a landlord's subordination agreement in form and substance satisfactory to
Silicon in its sole discretion and all
other documents (in form and substance satisfactory to Silicon in its sole discretion) that Silicon deems necessary for assuring its first priority perfected and enforceable security interest in such
Collateral have been executed and, if applicable, recorded

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    3.5    Maintenance of Collateral.  Borrower will maintain
the Collateral in good working condition, *and Borrower will not use the Collateral for any unlawful purpose. Borrower will immediately advise Silicon
in writing of any material loss or damage to the Collateral. 

    *ordinary wear and tear excepted,  

     3.6    Books and Records.  Borrower
has maintained and will maintain at Borrower's Address complete and accurate books and records, comprising an accounting system in accordance with*. 

    *GAAP  

     3.7    Financial Condition, Statements and
Reports.  All financial statements now or in the future delivered to Silicon have been, and will be, prepared in conformity
with* and now and in the future will **the financial condition of Borrower, at the times and for the
periods therein stated. Between the last date covered by any such statement provided to Silicon and the date hereof, there has been no material adverse change in the financial condition or business of
Borrower. Borrower is now and will continue to be solvent***. 

    *GAAP  

    **fairly represent in all material respects  

    ***on a consolidated basis  

     3.8    Tax Returns and Payments; Pension
Contributions.  Borrower has timely filed, and will timely file, all tax returns and reports required by foreign, federal, state and local law, and Borrower has
timely paid, and will timely pay, all foreign, federal, state and local taxes, assessments, deposits and contributions now or in the future owed by Borrower. Borrower may, however, defer payment of
any contested taxes, provided that Borrower (i) in good faith contests Borrower's obligation to pay the taxes by appropriate proceedings promptly and diligently instituted and conducted,
(ii) notifies Silicon in writing of the commencement of, and any material development in, the proceedings, and (iii) posts bonds or takes any other steps required to keep the contested
taxes from becoming a lien upon any of the Collateral. *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. Borrower has paid, and shall continue to pay all amounts necessary to fund all present and future pension, profit sharing
and deferred compensation plans in accordance with their terms, and Borrower has not and will not withdraw from participation in, permit partial or complete termination of, or permit the occurrence of
any other event with respect to, any such plan which could result in any liability of Borrower, including any liability to the Pension Benefit Guaranty Corporation or its successors or any other
governmental agency. Borrower shall, at all times, utilize the services of an outside payroll service providing for the automatic deposit of all payroll taxes payable by Borrower. 

    *Except as disclosed in the Schedule,  

    3.9    Compliance with
Law.  *Borrower has complied, and will comply, in all material respects, with all provisions of all foreign,
federal, state and local laws and regulations relating to Borrower, including, but not limited to, those relating to Borrower's ownership of real or personal property, the conduct and licensing of
Borrower's business, and all environmental matters. 

    *Except where the failure to so comply could not reasonably be expected to have a Material Adverse Effect,

    3.10    Litigation.  Except as disclosed in the Schedule,
there is no claim, suit, litigation, proceeding or investigation pending or (to best of Borrower's knowledge) threatened by or against or affecting Borrower in any court or before any governmental
agency (or any basis therefor known to Borrower) which* result, either separately or in the aggregate, in
any**, or in any 

4

 

material impairment in the ability of Borrower to carry on its business in substantially the same manner as it is now being conducted. Borrower will promptly inform Silicon in writing of any claim,
proceeding, litigation or investigation in the future threatened or instituted by or against Borrower involving any single claim of $50,000 or more, or involving $100,000 or more in the aggregate. 

    *could reasonably be expected to  

    **Material Adverse Change  

     3.11    Use of Proceeds.  All
proceeds of all Loans shall be used solely for lawful business purposes. Borrower is not purchasing or carrying any "margin stock" (as defined in Regulation U of the Board of Governors of the
Federal Reserve System) and no part of the proceeds of any Loan will be used to purchase or carry any "margin stock" or to extend credit to others for the purpose of purchasing or carrying any "margin
stock." 

      4.  Receivables.  

    4.1    Representations Relating to Receivables.  Borrower
represents and warrants to Silicon as follows: Each Receivable with respect to which Loans are requested by Borrower shall, on the date each Loan is requested and made, (i) represent an
undisputed* bona fide existing unconditional obligation of the Account Debtor created by the sale, delivery, and acceptance of goods or the rendition of
services in the ordinary course of Borrower's business, and (ii) meet the Minimum Eligibility Requirements set forth in Section 8 below. 

    *(except as otherwise permitted in the definition of Eligible Receivables set forth in Section 8 below)

    4.2    Representations Relating to Documents and Legal
Compliance.  Borrower represents and warrants to Silicon as follows: All statements made and all unpaid balances appearing in all invoices, instruments and other
documents evidencing the Receivables are and shall be true and correct and all such invoices, instruments and other documents and all of Borrower's books and records are and shall be genuine and in
all respects what they purport to be, and all signatories and endorsers* have the capacity to contract. All sales and other transactions underlying or
giving rise to each Receivable shall fully comply with all applicable laws and governmental rules and regulations. All signatures and endorsements on all documents, instruments, and
agreements** relating to all Receivables are and shall be genuine, and all such documents, instruments and agreements are and shall be legally
enforceable in accordance with their terms***. 

    *signing on behalf of Borrower have the capacity to contract and, to the best of Borrower's knowledge, all signatories and endorsers signing on behalf of
Persons other than Borrower

    **signed or endorsed on behalf of Borrower (and, to the best of Borrower's knowledge, all that are signed or endorsed on behalf of Persons other than
Borrower)

    ***except as enforceability may be limited by equitable principles or by bankruptcy, insolvency, reorganization, moratorium or similar laws relating to
creditors' rights generally  

     4.3    Schedules and Documents relating to
Receivables.  Borrower shall deliver to Silicon transaction reports and loan requests, schedules and assignments*
of all Receivables, and schedules of collections, all on Silicon's standard forms; provided, however, that Borrower's failure to execute and deliver the same shall not affect or limit Silicon's
security interest and other rights in all of Borrower's Receivables, nor shall Silicon's failure to advance or lend against a specific Receivable affect or limit Silicon's security interest and other
rights therein. Loan requests received after 12:00 Noon will not be considered by Silicon until the next Business Day. Together with each such schedule and
assignment*, or later if requested by Silicon, Borrower shall furnish Silicon with 

5

 

copies (or, at Silicon's request, originals) of all contracts, orders, invoices, and other similar documents, and all original shipping instructions, delivery receipts, bills of lading, and other
evidence of delivery, for any goods the sale or disposition of which gave rise to such Receivables, and Borrower warrants the genuineness of all of the foregoing. Borrower shall also furnish to
Silicon an aged accounts receivable trial balance in such form and at such intervals as Silicon shall request. In addition, Borrower shall deliver to Silicon the originals of all instruments, chattel
paper, security agreements, guarantees and other documents and property evidencing or securing any Receivables,** receipt thereof and in the same form
as received, with all necessary indorsements, all of which shall be with recourse. Borrower shall also provide Silicon with copies of all credit memos within two days after the date issued. 

    *for security  

    **promptly after  

     4.4    Collection of
Receivables.  Borrower shall have the right to collect all Receivables, unless and until a Default or an Event of Default has occurred. Borrower shall hold all
payments on, and proceeds of,
Receivables in trust for Silicon, and Borrower shall immediately deliver all such payments and proceeds to Silicon in their original form, duly endorsed in blank, to be applied to the Obligations in
such order as Silicon shall determine. Silicon may, in its discretion, require that all proceeds of Collateral be deposited by Borrower into a lockbox account, or such other "blocked account" as
Silicon may specify, pursuant to a blocked account agreement in such form as Silicon may specify*. **

    *except for amounts constituting the purchase price of an on-line transaction collected pursuant to the Motorplace Vehicle Network Business
Agreement dated August 18, 2000 between General Electric Capital Auto Financial Services, Inc. and Borrower; provided, however, that any transaction or other fees collected by Borrower
in connection with such on-line transactions shall be deposited by Borrower as Silicon may specify as provided for above

    **After a Default or Event of Default has occurred, Silicon or its designee may, at any time, in its good faith business judgment notify Account Debtors that
the Receivables have been assigned to Silicon. Prior to a Default or Event of Default occurring, Silicon or its designee may, at any time, in its good faith business judgment notify Account Debtors
that the Receivables have been assigned for security to Silicon.

    4.5.    Remittance of Proceeds.  All proceeds arising from
the disposition of any Collateral shall be delivered, in kind, by Borrower to Silicon in the original form in which received by Borrower not later than the following Business Day after receipt by
Borrower, to be applied to the Obligations in such order as Silicon shall determine; provided that, if no Default or Event of Default has occurred*,
Borrower shall not be obligated to remit to Silicon the proceeds of the sale of worn out or obsolete equipment disposed of by Borrower in good faith in an arm's length transaction for an aggregate
purchase price of $25,000 or less (for all such transactions in any fiscal year). Borrower agrees that it will not commingle proceeds of Collateral with any of Borrower's other funds or property, but
will hold such proceeds separate and apart from such other funds and property and in an express trust for Silicon. Nothing in this Section limits the restrictions on disposition of Collateral set
forth elsewhere in this Agreement. 

    *and is continuing  

     4.6    Disputes.  Borrower shall
notify Silicon promptly of all disputes or claims relating to Receivables. *Borrower shall not forgive (completely or partially), compromise or settle
any Receivable for less than payment in full, or agree to do any of the foregoing, except that Borrower may do so, provided that: (i) Borrower does so in good faith, in a commercially
reasonable manner, in the ordinary course of business, and in arm's length transactions, which are reported to 

6

 

Silicon on the regular reports provided to Silicon; (ii) no Default or Event of Default has occurred and is continuing; and (iii) taking into account all such discounts settlements and
forgiveness, the total outstanding Loans will not exceed the Credit Limit. Silicon may, at any time after the occurrence of an Event of Default, settle or adjust disputes or claims directly with
Account Debtors for amounts and upon terms which Silicon considers advisable in its reasonable credit judgment and, in all cases, Silicon shall credit Borrower's Loan account with only the net amounts
received by Silicon in payment of any Receivables. 

    *Except for the Promissory Note dated September 29, 2000 by Boats.com, Inc. (as the same may be amended, modified, extended or restated) in favor
of Borrower in the amount of $4,788,438.00),

    4.7    Returns.  Provided no Event of Default has occurred
and is continuing, if any Account Debtor returns any Inventory to Borrower in the ordinary course of its business, Borrower shall promptly determine the reason for such return and promptly issue a
credit memorandum to the Account Debtor in the appropriate amount (sending a copy to Silicon). In the event any attempted return occurs after the occurrence of any Event of Default, Borrower shall
(i) hold the returned Inventory in trust for Silicon, (ii) segregate all returned Inventory from all of Borrower's other property, (iii) conspicuously label the returned Inventory
as Silicon's property, and (iv) immediately notify Silicon of the return of any Inventory, specifying the reason for such return, the location and condition of the returned Inventory, and on
Silicon's request deliver such returned Inventory to Silicon. 

    4.8    Verification.  Silicon may, from time to time,
verify directly with the respective Account Debtors the validity, amount and other matters relating to the Receivables, by means of mail, telephone or otherwise, either in the name of Borrower or
Silicon or such other name as Silicon may choose. 

    4.9    No Liability.  Silicon shall not under any
circumstances be responsible or liable for any shortage or discrepancy in, damage to, or loss or destruction of, any goods, the sale or other disposition of which gives rise to a Receivable, or for
any error, act, omission, or delay of any kind occurring in the settlement, failure to settle, collection or failure to collect any Receivable, or for settling any Receivable in good faith for less
than the full amount thereof, nor shall Silicon be deemed to be responsible for any of Borrower's obligations under any contract or agreement giving rise to a Receivable. Nothing herein shall,
however, relieve Silicon from liability for its own gross negligence or willful misconduct. 

      5.  ADDITIONAL DUTIES OF THE BORROWER.  

    5.1    Financial and Other Covenants.  Borrower shall at
all times comply with the financial and other covenants set forth in the Schedule. 

    5.2    Insurance.  Borrower shall, at all times insure all
of the tangible personal property Collateral and carry such other business insurance, with insurers reasonably acceptable to Silicon, in such form and amounts as Silicon may reasonably
require*, and Borrower shall provide evidence of such insurance to Silicon, so that Silicon is satisfied that such insurance is, at all times, in full
force and effect. All such insurance policies shall name Silicon as an additional loss payee, and shall contain a lenders loss payee endorsement in form reasonably acceptable to Silicon. Upon receipt
of the proceeds of any such insurance, Silicon shall apply such proceeds in reduction of the Obligations as Silicon shall determine in its sole discretion, except that, provided no Default or Event of
Default has occurred and is continuing, Silicon shall release to Borrower insurance proceeds with respect to Equipment totaling less than $100,000, which shall be utilized by Borrower for the
replacement of the Equipment with respect to which the insurance proceeds were paid. Silicon may require reasonable assurance that the insurance proceeds so released will be so 

7

 

used. If Borrower fails to provide or pay for any insurance, Silicon may, but is not obligated to, obtain the same at Borrower's expense. Borrower shall promptly deliver to Silicon copies of all
reports made to insurance companies. 

    *and that are customary and in accordance with standard practices for Borrower's industry and locations  

     5.3    Reports.  Borrower, at its
expense, shall provide Silicon with the written reports set forth in the Schedule, and such other written reports with respect to Borrower (including budgets, sales projections, operating plans and
other financial documentation), as Silicon shall from time to time reasonably specify. 

    5.4    Access to Collateral, Books and Records.  At
reasonable times, and on one Business Day's notice, Silicon, or its agents, shall have the right to inspect the Collateral, and the right to audit and copy Borrower's books and records. Silicon shall
take reasonable steps to keep confidential all information obtained in any such inspection or audit, but Silicon shall have the right to disclose any such information to its auditors, regulatory
agencies, and attorneys, and pursuant to any subpoena or other legal process. The foregoing inspections and audits shall be at Borrower's expense and the charge therefor shall be $600 per person per
day (or such higher amount as shall represent Silicon's then current standard charge for the same), plus reasonable out of pocket expenses*. Borrower
will not enter into any agreement with any accounting firm, service bureau or third party to store Borrower's books or records at any location other than Borrower's Address, without first obtaining
Silicon's written consent, which may be conditioned upon such accounting firm, service bureau or other third party agreeing to give Silicon the same rights with respect to access to books and records
and related rights as Silicon has under this Loan Agreement. **Borrower waives the benefit of any accountant-client
privilege or other evidentiary privilege precluding or limiting the disclosure, divulgence or delivery of any of its books and records (except that Borrower does not waive any attorney-client
privilege). 

    *provided that such charges shall not exceed $30,000 in any calendar year (but said limit shall not apply if any Default or Event of Default has
occurred)

    **With respect to Silicon and its agents,  

     5.5    Negative Covenants.  Except
as may be permitted in the Schedule, Borrower shall not, without Silicon's prior written consent, do any of the following: (i) merge or consolidate with another corporation or
entity*; (ii) acquire any assets, except in the ordinary course of business**; (iii) enter
into any other transaction outside the ordinary course of business***; (iv) sell or transfer any Collateral, except for the sale of finished
Inventory in the ordinary course of Borrower's business, and except for the sale of obsolete or unneeded Equipment in the ordinary course of business; (v) store any Inventory or other
Collateral with any warehouseman or other third party; (vi) sell any Inventory on a sale-or-return, guaranteed sale, consignment, or other contingent basis;
(vii) make any loans of any money or other assets****; (viii) incur any debts, outside the ordinary course of business, which would have
a*****; (ix) guarantee or otherwise become liable with respect to the obligations of another party or entity; (x) pay or declare any
dividends on Borrower's stock (except for dividends payable solely in stock of Borrower); (xi) redeem, retire, purchase or otherwise acquire, directly or indirectly, any of Borrower's
stock******; (xii) make any change in Borrower's capital structure which would have a***** or
(xiv) dissolve or elect to dissolve*******. Transactions permitted by the foregoing provisions of this Section are only permitted if no Default
or Event of Default would occur as a result of such transaction. 

    *, except for Permitted Mergers  

    **and except as otherwise permitted under this Section 5.5  

8

 

    ***except as otherwise permitted under this Section 5.5  

    ****except loans to employees in accordance with Borrower's usual and customary practices not to exceed $50,000 per employee and $150,000 in the aggregate
outstanding at any time  

    *****Material Adverse Effect  

    ******except for any such transactions relating to stock or stock options of Borrower's employees in an amount not to exceed $50,000 per annum  

    *******, except Permitted Dissolutions  

     5.6    Litigation
Cooperation.  Should any third-party suit or proceeding be instituted by or against Silicon with respect to any Collateral or in any manner relating to Borrower,
Borrower shall, without expense to Silicon, make available Borrower and its officers, employees and agents and Borrower's books and records, to the extent that Silicon may deem them reasonably
necessary in order to prosecute or defend any such suit or proceeding*. 

    *, provided that Borrower shall not be required to provide litigation cooperation that would waive any attorney-client privilege  

9

  

    5.7    Further Assurances.  Borrower agrees, at its
expense, on request by Silicon, to execute all documents and take all actions, as Silicon, may deem reasonably necessary or useful in order to perfect and maintain Silicon's perfected security
interest in the Collateral, and in order to fully consummate the transactions contemplated by this Agreement. 

      6.  TERM.  

    6.1    Maturity Date.  This Agreement shall continue in
effect until the maturity date set forth on the Schedule (the "Maturity Date"), subject to* Section 6.3 below. 

    *Section 6.2 and  

    6.2    Early Termination.  This
Agreement may be terminated prior to the Maturity Date as follows: (i) by Borrower, effective three Business Days after written notice of termination is given to Silicon; or (ii) by
Silicon at any time after the occurrence of an Event of Default, without notice, effective immediately. If this Agreement is terminated by Borrower or by Silicon under this Section 6.2,
Borrower shall pay to Silicon a termination fee in an amount equal to* of the Maximum Credit Limit, provided that no termination fee shall be charged if
the credit facility hereunder is replaced with a new facility from another division of Silicon Valley Bank. The termination fee shall be due and payable on the effective date of termination and
thereafter shall bear interest at a rate equal to the highest rate applicable to any of the Obligations. 

    *one percent (1.0%)  

     6.3    Payment of Obligations.  On
the Maturity Date or on any earlier effective date of termination, Borrower shall pay and perform in full all Obligations, whether evidenced by installment notes or otherwise, and whether or not all
or any part of such Obligations are otherwise then due and payable. Without limiting the generality of the foregoing, if on the Maturity Date, or on any earlier effective date of termination, there
are any outstanding Letters of Credit issued by Silicon or issued by another institution based upon an application, guarantee, indemnity or similar agreement on the part of Silicon, then on such date
Borrower shall provide to Silicon cash collateral in an amount equal to the face amount of all such Letters of Credit plus all interest, fees and cost due or to become due in connection
therewith, to secure all of the Obligations relating to said Letters of Credit, pursuant to Silicon's then standard form cash pledge agreement. Notwithstanding any termination of this Agreement, all
of Silicon's security interests in all of the Collateral and all of the terms and provisions of this Agreement shall continue in full force and effect until all Obligations have been paid and
performed in full; provided that, without limiting the fact that Loans are subject to the discretion of Silicon, Silicon may, in its sole discretion, refuse to make any further Loans after
termination. No termination shall in any way affect or impair any right or remedy of Silicon, nor shall any such termination relieve Borrower of any Obligation to Silicon, until all of the Obligations
have been paid and performed in full. Upon payment and performance in full of all the Obligations and termination of this Agreement, Silicon shall promptly deliver to Borrower termination statements,
requests for reconveyances and such other documents as may be required to fully terminate Silicon's security interests. 

      7.  EVENTS OF DEFAULT AND REMEDIES.  

    7.1    Events of Default.  The occurrence of any of the
following events shall constitute an "Event of Default" under this Agreement, and Borrower shall give Silicon immediate written notice thereof: (a) Any warranty, representation, statement,
report or certificate made or delivered to Silicon by Borrower or any of Borrower's officers, employees or agents, now or in the future, shall be untrue or misleading in a material
respect*; or (b) Borrower shall fail to pay when due any Loan or any interest thereon or any other monetary Obligation; or (c) the total
Loans and other Obligations outstanding at any time shall exceed the Credit Limit;** or (d) Borrower shall fail to comply with any of the
financial covenants set forth in the Schedule or shall fail to perform 

10

 

any other non-monetary Obligation which by its nature cannot be cured; or (e) Borrower shall fail to perform any other non-monetary Obligation, which failure is not
cured within 5 Business Days after the date due; or (f) any levy, assessment, attachment, seizure, lien or encumbrance (other than a Permitted Lien) is made on all or any part of the Collateral
which is not cured within*** days after the occurrence of the same; or (g) any default or event of default occurs under any obligation secured by
a Permitted Lien, which is not cured within any applicable cure period or waived in writing by the holder of the Permitted Lien; or (h) Borrower breaches any material contract or obligation,
which has or may reasonably be expected to have a****; or (i) Dissolution, termination of existence, insolvency or business failure of Borrower;
or appointment of a receiver, trustee or custodian, for all or any part of the property of, assignment for the benefit of creditors by, or the commencement of any proceeding by Borrower under any
reorganization, bankruptcy, insolvency, arrangement, readjustment of debt, dissolution or liquidation law or statute of any jurisdiction, now or in the future in effect; or (j) the commencement
of any proceeding against Borrower or any guarantor of any of the Obligations under any reorganization, bankruptcy, insolvency, arrangement, readjustment of debt, dissolution or liquidation law or
statute of any jurisdiction, now or in the future in effect, which is not cured by the dismissal thereof within***** days after the date commenced; or
(k) revocation or termination of, or limitation or denial of liability upon, any guaranty of the Obligations or any attempt to do any of the foregoing, or commencement of proceedings by any
guarantor of any of the Obligations under any bankruptcy or insolvency law; or (l) revocation or termination of, or limitation or denial of liability
upon, any pledge of any certificate of deposit, securities or other property or asset of any kind pledged by any third party to secure any or all of the Obligations, or any attempt to do any of the
foregoing, or commencement of proceedings by or against any such third party under any bankruptcy or insolvency law; or (m) Borrower makes any payment on account of any indebtedness or
obligation which has been subordinated to the Obligations other than as permitted in the applicable subordination agreement, or if any Person who has subordinated such indebtedness or obligations
terminates or in any way limits his subordination agreement; or (n) there shall be a change in the record or beneficial ownership of an aggregate of more than 20% of the outstanding shares of
stock of Borrower, in one or more transactions, compared to the ownership of outstanding shares of stock of Borrower in effect on the date hereof******,
without the prior written consent of Silicon; or (o) Borrower shall generally not pay its debts as they become due, or Borrower shall conceal, remove or transfer any part of its property, with
intent to hinder, delay or defraud its creditors, or make or suffer any transfer of any of its property which may be fraudulent under any bankruptcy, fraudulent conveyance or similar law; or
(p) there shall be a******* Silicon may cease making any Loans hereunder during any of the above cure periods, and thereafter if an Event of
Default has occurred. 

    *when made  

    **provided, however, if an Overadvance results directly from a change by Silicon of either the amount of Reserves or of the Minimum
Eligibility Requirements, then if Borrower fails to pay such Overadvance within 3 Business Days of such Overadvance occurring

    ***20  

    ****Material Adverse Effect  

    *****60  

    ******that results in either: (i) a change in the controlling ownership of Borrower or (ii) any Person owning more than 20% of the outstanding
shares of stock of Borrower  

    *******Material Adverse Change  

11

 

     7.2    Remedies.  Upon the
occurrence of any Event of Default, and at any time thereafter, Silicon, at its option, and without notice or demand of any kind (all of which are hereby expressly waived by Borrower), may do any one
or more of the following: (a) Cease making Loans or otherwise extending credit to Borrower under this Agreement or any other document or agreement; (b) Accelerate and declare all or any
part of the Obligations to be immediately due, payable, and performable, notwithstanding any deferred or installment payments allowed by any instrument evidencing or relating to any Obligation;
(c) Take possession of any or all of the Collateral wherever it may be found, and for that purpose Borrower hereby authorizes Silicon without judicial process to enter onto any of Borrower's
premises without interference to search for, take possession of, keep, store, or remove any of the Collateral, and remain on the premises or cause a custodian to remain on the premises in exclusive
control thereof, without charge for so long as Silicon deems it reasonably necessary in order to complete the enforcement of its rights under this Agreement or any other agreement; provided, however,
that should Silicon seek to take possession of any of the Collateral by Court process, Borrower hereby irrevocably waives: (i) any bond and any surety or security relating thereto required by
any statute, court rule or otherwise as an incident to such possession; (ii) any demand for possession prior to the commencement of any suit or action to recover possession thereof; and
(iii) any requirement that Silicon retain possession of, and not dispose of, any such Collateral until after trial or final judgment; (d) Require Borrower to assemble any or all of the
Collateral and make it available to Silicon at places designated by Silicon which are reasonably convenient to Silicon and Borrower, and to remove the Collateral to such locations as Silicon may deem
advisable; (e) Complete the processing, manufacturing or repair of any Collateral prior to a disposition thereof and, for such purpose and for the purpose of removal, Silicon shall have the
right to use Borrower's premises, vehicles, hoists, lifts, cranes, equipment and all other property without charge; (f) Sell, lease or otherwise dispose of any of the Collateral, in its
condition at the time Silicon obtains possession of it or after further manufacturing, processing or repair, at one or more public and/or private sales, in lots or in bulk, for cash, exchange or other
property, or on credit, and to adjourn any such sale from time to time without notice other than oral announcement at the time scheduled for sale. Silicon shall have the right to conduct such
disposition on Borrower's premises without charge, for such time or times as Silicon deems reasonable, or on Silicon's premises, or elsewhere and the Collateral need not be located at the place of
disposition. Silicon may directly or through any affiliated company purchase or lease any Collateral at any such public disposition, and if permissible under applicable law, at any private
disposition. Any sale or other disposition of Collateral shall not relieve Borrower of any liability Borrower may have if any Collateral is defective as to title or physical condition or otherwise at
the time of sale; (g) Demand payment of, and collect any Receivables and General Intangibles comprising Collateral and, in connection therewith, Borrower irrevocably authorizes Silicon to
endorse or sign Borrower's name on all collections, receipts, instruments and other documents, to take possession of and open mail addressed to Borrower and remove therefrom payments made with respect
to any item of the Collateral or proceeds thereof, and, in Silicon's sole discretion, to grant extensions of time to pay, compromise claims and settle Receivables and the like for less than face
value; (h) Offset against any sums in any of Borrower's general, special or other Deposit Accounts with Silicon; and (i) Demand and receive possession of any of Borrower's federal and
state income tax returns and the books and records utilized in the preparation thereof or referring thereto. All reasonable attorneys' fees, expenses, costs, liabilities and obligations incurred by
Silicon with respect to the foregoing shall be added to and become part of the Obligations, shall be due on demand, and shall bear interest at a rate equal to the highest interest rate applicable to
any of the Obligations. Without limiting any of Silicon's rights and remedies, from and after the occurrence of any Event of Default, the interest rate applicable to the Obligations shall be increased
by an additional four percent per annum. 

12

 

    7.3    Standards for Determining Commercial
Reasonableness.  Borrower and Silicon agree that a sale or other disposition (collectively, "sale") of any Collateral which complies with the following standards
will conclusively be deemed to be commercially reasonable: (i) Notice of the sale is given to Borrower at least* days prior to the sale, and, in
the case of a public sale, notice of the sale is published at least* days before the sale in a newspaper of general circulation in the county where the
sale is to be conducted; (ii) Notice of the sale describes the collateral in general, non-specific terms; (iii) The sale is conducted at a place designated by Silicon, with
or without the Collateral being present; (iv) The sale commences at any time between 8:00 a.m. and 6:00 p.m; (v) Payment of the purchase price in cash or by cashier's check or
wire transfer is required; (vi) With respect to any sale of any of the Collateral, Silicon may (but is not obligated to) direct any prospective purchaser to ascertain directly from Borrower any
and all information concerning the same. Silicon shall be free to employ other methods of noticing and selling the Collateral, in its discretion, if they are commercially reasonable. 

    *ten (10)  

    7.4    Power of Attorney.  Upon the
occurrence of any Event of Default, without limiting Silicon's other rights and remedies, Borrower grants to Silicon an irrevocable power of attorney coupled with an interest, authorizing and
permitting Silicon (acting through any of its employees, attorneys or agents) at any time, at its option, but without obligation, with or without notice to Borrower, and at Borrower's expense, to do
any or all of the following, in Borrower's name or otherwise, but Silicon agrees to exercise the following powers in a commercially reasonable manner: (a) Execute on behalf of Borrower any
documents that Silicon may, in its sole discretion, deem advisable in order to perfect and maintain Silicon's security interest in the Collateral, or in order to exercise a right of Borrower or
Silicon, or in order to fully consummate all the transactions contemplated under this Agreement, and all other present and future agreements; (b) Execute on behalf of Borrower any document
exercising, transferring or assigning any option to purchase, sell or otherwise dispose of or to lease (as lessor or lessee) any real or personal property which is part of Silicon's Collateral or in
which Silicon has an interest; (c) Execute on behalf of Borrower, any invoices relating to any Receivable, any draft against any Account Debtor and any notice to any Account Debtor, any proof
of claim in bankruptcy, any Notice of Lien, claim of mechanic's, materialman's or other lien, or assignment or satisfaction of mechanic's, materialman's or other lien; (d) Take control in any
manner of any cash or non-cash items of payment or proceeds of Collateral; endorse the name of Borrower upon any instruments, or documents, evidence of payment or Collateral that may come
into Silicon's possession; (e) Endorse all checks and other forms of remittances received by Silicon; (f) Pay, contest or settle any lien, charge, encumbrance, security interest and
adverse claim in or to any of the Collateral, or any judgment based thereon, or otherwise take any action to terminate or discharge the same; (g) Grant extensions of time to pay, compromise
claims and settle Receivables and General Intangibles for less than face value and execute all releases and other documents in connection therewith; (h) Pay any sums required on account of
Borrower's taxes or to secure the release of any liens therefor, or both; (i) Settle and adjust, and give releases of, any insurance claim that relates to any of the Collateral and obtain
payment therefor;
(j) Instruct any third party having custody or control of any books or records belonging to, or relating to, Borrower to give Silicon the same rights of access and other rights with respect
thereto as Silicon has under this Agreement; and (k) Take any action or pay any sum required of Borrower pursuant to this Agreement and any other present or future agreements. Any and all
reasonable sums paid and any and all reasonable costs, expenses, liabilities, obligations and attorneys' fees incurred by Silicon with respect to the foregoing shall be added to and become part of the
Obligations, shall be payable on demand, and shall bear interest at a rate equal to the highest interest rate applicable to any of the Obligations. In no event shall Silicon's rights under the
foregoing power of attorney or any of Silicon's other rights under this 

13

 

Agreement be deemed to indicate that Silicon is in control of the business, management or properties of Borrower. 

    7.5    Application of Proceeds.  All proceeds realized as
the result of any sale of the Collateral shall be applied by Silicon first to the reasonable costs, expenses, liabilities, obligations and attorneys' fees incurred by Silicon in the exercise of its
rights under this Agreement, second to the interest due upon any of the Obligations, and third to the principal of the Obligations, in such order as Silicon shall determine in its sole discretion. Any
surplus shall be paid to Borrower or other persons legally entitled thereto; Borrower shall remain liable to Silicon for any deficiency. If, Silicon, in its sole discretion, directly or indirectly
enters into a deferred payment or other credit transaction with any purchaser at any sale of Collateral, Silicon shall have the option, exercisable at any time, in its sole discretion, of either
reducing the Obligations by the principal amount of purchase price or deferring the reduction of the Obligations until the actual receipt by Silicon of the cash therefor. 

    7.6    Remedies Cumulative.  In addition to the rights and
remedies set forth in this Agreement, Silicon shall have all the other rights and remedies accorded a secured party under the California Uniform Commercial Code and under all other applicable laws,
and under any other instrument or agreement now or in the future entered into between Silicon and Borrower, and all of such rights and remedies are cumulative and none is exclusive. Exercise or
partial exercise by Silicon of one or more of its rights or remedies shall not be deemed an election, nor bar Silicon from subsequent exercise or partial exercise of any other rights or remedies. The
failure or delay of Silicon to exercise any rights or remedies shall not operate as a waiver thereof, but all rights and remedies shall continue in full force and effect until all of the Obligations
have been fully paid and performed. 

      8.  DEFINITIONS.  As used in this Agreement, the
following terms have the following meanings: 

    "Account Debtor" means the obligor on a Receivable. 

    "Affiliate" means, with respect to any Person, a relative, partner, shareholder, director, officer, or employee of such Person, or any
parent or subsidiary of such Person, or any Person controlling, controlled by or under common control with such Person. 

    "Business Day" means a day on which Silicon is open for business. 

    "Code" means the Uniform Commercial Code as adopted and in effect in the State of California from time to time. 

    "Collateral" has the meaning set forth in Section 2.1 above. 

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

    "Deposit Account" has the meaning set forth in Section 9105 of the Code. 

    "Eligible Inventory" [NOT APPLICABLE]. 

    "Eligible Receivables" means Receivables arising in the ordinary course of Borrower's business from the sale of goods or rendition of
services, which Silicon, in its sole judgment, shall deem eligible for borrowing, based on such considerations as Silicon may from time to time deem appropriate. Without limiting the fact that the
determination of which Receivables are eligible for borrowing is a matter of Silicon's discretion, the following (the "Minimum Eligibility
Requirements") are the minimum requirements for a Receivable to be an Eligible Receivable: (i) the Receivable must not be outstanding for more than 90 days from
its invoice date, (ii) the Receivable must not represent progress billings, or be due under a fulfillment or requirements contract with the Account Debtor, (iii) the Receivable must 

14

 

not be subject to any contingencies (including Receivables arising from sales on consignment, guaranteed sale or other terms pursuant to which payment by the Account Debtor may be conditional),
(iv) the Receivable must not be owing from an Account Debtor with whom the Borrower has any
dispute (whether or not relating to the particular Receivable)*, (v) the Receivable must not be owing from an Affiliate of
Borrower**, (vi) the Receivable must not be owing from an Account Debtor which is subject to any insolvency or bankruptcy proceeding, or whose
financial condition is not acceptable to Silicon, or which, fails or goes out of a material portion of its business, (vii) the Receivable must not be owing from the United States or any
department, agency or instrumentality thereof (unless there has been compliance, to Silicon's satisfaction, with the United States Assignment of Claims Act), (viii) the Receivable must not be
owing from an Account Debtor located outside the United States or Canada (unless pre-approved by Silicon in its discretion in writing, or backed by a letter of credit satisfactory to
Silicon, or FCIA insured satisfactory to Silicon), (ix) the Receivable must not be owing from an Account Debtor to whom Borrower is or may be liable for goods purchased from such Account Debtor
or otherwise***. Receivables owing from one Account Debtor will not be deemed Eligible Receivables to the extent they exceed 25% of the total
Receivables outstanding****. In addition, if more than 50% of the Receivables owing from an Account Debtor are outstanding more than 90 days from
their invoice date (without regard to unapplied credits) or are otherwise not eligible Receivables, then all Receivables owing from that Account Debtor will be deemed ineligible for borrowing. Silicon
may, from time to time, in its discretion, revise the Minimum Eligibility Requirements, upon***** written notice to the Borrower. 

    *but only to the extent of the amount subject to such dispute or claim  

    **(with the exception of DaimlerChrysler and General Electric, provided that the respective ownership interests of DaimlerChrysler and
General Electric in Borrower remains less than 10% each and provided further no Default or Event of Default has occurred)

    ***but only to the extent of any amounts owed to such Account Debtor  

    ****provided, however, such percentage shall be 40% with respect to Receivables for which DaimlerChrysler is the Account Debtor  

    *****one (1) Business Day's prior  

    "Equipment" means all of Borrower's present and hereafter acquired machinery, molds, machine tools, motors,
furniture, equipment, furnishings, fixtures, trade fixtures, motor vehicles, tools, parts, dyes, jigs, goods and other tangible personal property (other than Inventory) of every kind and description
used in Borrower's operations or owned by Borrower and any interest in any of the foregoing, and all attachments, accessories, accessions, replacements, substitutions, additions or improvements to any
of the foregoing, wherever located. 

    "Event of Default" means any of the events set forth in Section 7.1 of this
Agreement.*

    *"GAAP" means generally accepted accounting principles as in effect from time to time in the United
States.

    "General Intangibles" means all general intangibles of Borrower, whether now owned or hereafter created or acquired by Borrower,
including, without limitation, all choses in action, causes of action, corporate or other business records, Deposit Accounts, inventions, designs, drawings, blueprints, patents, patent applications,
trademarks and the goodwill of the business symbolized thereby, names, trade names, trade secrets, goodwill, copyrights, registrations, licenses, franchises, customer lists, security and other
deposits, rights in all litigation presently or hereafter pending for any cause or claim (whether in contract, tort or otherwise), and all judgments now or hereafter arising therefrom, all claims of
Borrower against Silicon, rights to purchase or sell real or personal property, rights as a licensor or licensee of any kind, royalties, telephone numbers, proprietary information, purchase orders, 

15

 

and all insurance policies and claims (including without limitation life insurance, key man insurance, credit insurance, liability insurance, property insurance and other insurance), tax refunds and
claims, computer programs, discs, tapes and tape files, claims under guaranties, security interests or other security held by or granted to Borrower, all rights to indemnification and all other
intangible property of every kind and nature (other than Receivables). 

    "Inventory" means all of Borrower's now owned and hereafter acquired goods, merchandise or other personal property, wherever located,
to be furnished under any contract of service or held for sale or lease (including without limitation all raw materials, work in process, finished goods and goods in transit), and all materials and
supplies of every kind, nature and description which are or might be used or consumed in Borrower's business or used in connection with the manufacture, packing, shipping, advertising, selling or
finishing of such goods, merchandise or other personal property, and all warehouse receipts, documents of title and other documents representing any of the
foregoing.*

    *"Material Adverse Effect" or "Material Adverse Change" means a material adverse effect on (i) the
business operations or condition (financial or otherwise) of Borrower or (ii) the ability of Borrower to repay the Obligations or otherwise perform its obligations under this Agreement or any
other present or future documents or agreements between Borrower and Silicon.

    "Obligations" means all present and future Loans, advances, debts, liabilities, obligations, guaranties, covenants, duties and
indebtedness at any time owing by Borrower to Silicon, whether evidenced by this Agreement or any note or other instrument or document, whether arising from an extension of credit, opening of a letter
of credit, banker's acceptance, loan, guaranty, indemnification or otherwise, whether direct or indirect (including, without limitation, those acquired by assignment and any participation by Silicon
in Borrower's debts owing to others), absolute or contingent, due or to become due, including, without limitation, all interest, charges, expenses, fees, attorney's fees, expert witness fees, audit
fees, letter of credit fees, collateral monitoring fees, closing fees, facility fees, termination fees, minimum interest charges and any other sums chargeable to Borrower under this Agreement or under
any other present or future instrument or agreement between Borrower and Silicon.*

    *"Permitted Dissolutions" means a dissolution whereby a Borrower may sell all or substantially all of its
assets (upon voluntary liquidation or otherwise) to another Borrower.

    "Permitted Liens" means the following: (i) purchase money security interests in specific items of Equipment; (ii) leases
of specific items of Equipment; (iii) liens for taxes not yet payable*; (iv) additional security interests and liens consented to in
writing by Silicon, which consent shall not be unreasonably withheld; (v) security interests being terminated substantially concurrently with this Agreement; (vi) liens of materialmen,
mechanics, warehousemen, carriers, or other similar liens arising in the ordinary course of business and securing obligations which are not delinquent; (vii) liens incurred in connection with
the extension, renewal or refinancing of the indebtedness secured by liens of the type described** provided that any extension, renewal or replacement
lien is limited to the property encumbered by the existing lien and the principal amount of the indebtedness being extended, renewed or refinanced does not increase; (viii) Liens in favor of
customs and revenue authorities which secure payment of customs duties in connection with the importation of goods***. Silicon will have the right to
require, as a condition to its consent under subparagraph (iv) above, that the holder of the additional security interest or lien sign an intercreditor agreement on Silicon's then standard
form, acknowledge that the security interest is subordinate to the security interest in favor of Silicon, and agree not to take any action to enforce its subordinate security interest so long as any
Obligations remain outstanding, and that Borrower agree that any uncured default in any obligation secured by the subordinate security interest shall also constitute an Event of Default under this
Agreement.****

16

 
    *or being contested in good faith by appropriate proceedings and for which adequate reserves are being maintained provided  such liens do not
have priority over any of Silicon's security interests

    **in clauses (i), (ii), (ix) or (x) of the definition of Permitted Liens,  

    ***, (ix) liens existing as of the effective date of this Agreement that are not otherwise provided for above and that are
disclosed on the Schedule, and (x) liens on assets acquired by Borrower in accordance with Section 5.5 hereof, provided such liens would otherwise be permitted pursuant to clauses
(i) or (ii) of the definition of Permitted Liens

    ****"Permitted Merger" means (a) any Borrower may merge with another Borrower; and (b) any
Borrower may sell all or substantially all of its assets (upon voluntary liquidation or otherwise) to another Borrower.

    "Person" means any individual, sole proprietorship, partnership, joint venture, trust, unincorporated organization, association,
corporation, government, or any agency or political division thereof, or any other entity. 

    "Receivables" means all of Borrower's now owned and hereafter acquired accounts (whether or not earned by performance), letters of
credit, contract rights, chattel paper, instruments, securities, securities accounts, investment property, documents and all other forms of obligations at any time owing to Borrower, all guaranties
and other security therefor, all merchandise returned to or repossessed by Borrower, and all rights of stoppage in transit and all other rights or remedies of an unpaid vendor, lienor or secured
party. 

    "Reserves" means, as of any date of determination, such amounts as Silicon may from time to time establish and revise in good faith
reducing the amount of Loans, Letters of Credit and other financial accommodations which would otherwise be available to Borrower under the lending formula(s) provided in the Schedule: (a) to
reflect events, conditions, contingencies or risks which, as determined by Silicon in good faith, do or may affect (i) the Collateral or any other property which is security for the Obligations
or its value (including without limitation any increase in delinquencies of Receivables), (ii) the assets, business or prospects of Borrower or any Guarantor, or (iii) the security
interests and
other rights of Silicon in the Collateral (including the enforceability, perfection and priority thereof); or (b) to reflect Silicon's good faith belief that any collateral report or financial
information furnished by or on behalf of Borrower or any Guarantor to Silicon is or may have been incomplete, inaccurate or misleading in any material respect; or (c) in respect of any state of
facts which Silicon determines in good faith constitutes an Event of Default or may, with notice or passage of time or both, constitute an Event of Default. 

    Other Terms.  All accounting terms used in this Agreement, unless otherwise indicated, shall have the meanings given to
such terms in accordance with* consistently applied. 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. 

    *GAAP,  

      9.  GENERAL PROVISIONS.  

    9.1    Interest Computation.  In computing interest on the
Obligations, all checks, wire transfers and other items of payment received by Silicon (including proceeds of Receivables and payment of the Obligations in full) shall be deemed applied by Silicon on
account of the Obligations three Business Days after receipt by Silicon of immediately available funds, and, for purposes of the foregoing, any such funds received after 12:00 Noon on any day shall be
deemed received on the next Business Day. Silicon shall not, however, be required to credit Borrower's account for the amount of any item of payment which is unsatisfactory to Silicon in its sole 

17

 

discretion, and Silicon may charge Borrower's loan account for the amount of any item of payment which is returned to Silicon unpaid. 

    9.2    Application of Payments.  All payments with respect
to the Obligations may be applied, and in Silicon's sole discretion reversed and re-applied, to the Obligations, in such order and manner as Silicon shall determine in its sole discretion. 

    9.3    Charges to Accounts.  Silicon may, in its
discretion, require that Borrower pay monetary Obligations in cash to Silicon, or charge them to Borrower's Loan account, in which event they will bear interest at
the same rate applicable to the Loans. Silicon may also, in its discretion, charge any monetary Obligations to Borrower's Deposit Accounts maintained with Silicon. 

    9.4    Monthly Accountings.  Silicon shall provide Borrower
monthly with an account of advances, charges, expenses and payments made pursuant to this Agreement. Such account shall be deemed correct, accurate and binding on Borrower and an account stated
(except for reverses and reapplications of payments made and corrections of errors discovered by Silicon), unless Borrower notifies Silicon in writing to the contrary within thirty days after each
account is rendered, describing the nature of any alleged errors or admissions. 

    9.5    Notices.  All notices to be given under this
Agreement shall be in writing and shall be given either personally or by reputable private delivery service or by regular first-class mail, or certified mail return receipt requested, addressed to
Silicon or Borrower at the addresses shown in the heading to this Agreement, or at any other address designated in writing by one party to the other party. Notices to Silicon shall be directed to the
Commercial Finance Division, to the attention of the Division Manager or the Division Credit Manager. All notices shall be deemed to have been given upon delivery in the case of notices personally
delivered, or at the expiration of one Business Day following delivery to the private delivery service, or two Business Days following the deposit thereof in the United States mail, with postage
prepaid. 

    9.6    Severability.  Should any provision of this
Agreement be held by any court of competent jurisdiction to be void or unenforceable, such defect shall not affect the remainder of this Agreement, which shall continue in full force and effect. 

    9.7    Integration.  This Agreement and such other written
agreements, documents and instruments as may be executed in connection herewith are the final, entire and complete agreement between Borrower and Silicon and supersede all prior and contemporaneous
negotiations and oral representations and agreements, all of which are merged and integrated in this Agreement. There are no oral understandings, representations or agreements
between the parties which are not set forth in this Agreement or in other written agreements signed by the parties in connection
herewith.*

    *Provided the Streamline Facility Agreement dated the date hereof between Silicon and Borrower is in effect, the terms and provisions contained in the
Streamline Facility Agreement shall supersede any inconsistent terms and provisions in this Agreement.

    9.8    Waivers.  The failure of Silicon at any time or
times to require Borrower to strictly comply with any of the provisions of this Agreement or any other present or future agreement between Borrower and
Silicon shall not waive or diminish any right of Silicon later to demand and receive strict compliance therewith. Any waiver of any default shall not waive or affect any other default, whether prior
or subsequent, and whether or not similar. None of the provisions of this Agreement or any other agreement now or in the future executed by Borrower and delivered to Silicon shall be deemed to have
been waived by any act or knowledge of Silicon or its agents or employees, but only by a specific written waiver signed by an authorized officer of Silicon and delivered to Borrower. Borrower waives
demand, protest, notice of protest and notice of default or 

18

 

dishonor, notice of payment and nonpayment, release, compromise, settlement, extension or renewal of any commercial paper, instrument, account, General Intangible, document or guaranty at any time
held by Silicon on which Borrower is or may in any way be liable, and notice of any action taken by Silicon, unless expressly required by this Agreement. 

    9.9    No Liability for Ordinary Negligence.  Neither
Silicon, nor any of its directors, officers, employees, agents, attorneys or any other Person affiliated with or representing Silicon shall be liable for any claims, demands, losses or damages, of any
kind whatsoever, made, claimed, incurred or suffered by Borrower or any other party through the ordinary negligence of Silicon, or any of its directors, officers, employees, agents, attorneys or any
other Person affiliated with or representing Silicon, but nothing herein shall relieve Silicon from liability for its own gross negligence or willful misconduct. 

    9.10    Amendment.  The terms and provisions of this
Agreement may not be waived or amended, except in a writing executed by* Borrower and a duly authorized officer of Silicon. 

    *a duly authorized officer of  

    9.11    Time of Essence.  Time is
of the essence in the performance by Borrower of each and every obligation under this Agreement. 

    9.12    Attorneys' Fees and Costs.  Borrower shall
reimburse Silicon for all reasonable attorneys' fees and all filing, recording, search, title insurance, appraisal, audit, and other reasonable costs incurred by Silicon, pursuant to, or in connection
with, or relating to this Agreement (whether or not a lawsuit is filed), including, but not limited to, any reasonable attorneys' fees and costs Silicon incurs in order to do the following: prepare
and negotiate this Agreement and the documents relating to this Agreement; obtain legal advice in connection with this Agreement or Borrower; enforce, or seek to enforce, any of its rights; prosecute
actions against, or defend actions by, Account Debtors; commence, intervene in, or defend any action or proceeding; initiate any complaint to be relieved of the automatic stay in
bankruptcy; file or prosecute any probate claim, bankruptcy claim, third-party claim, or other claim; examine, audit, copy, and inspect any of the Collateral or any of Borrower's books and
records*; protect, obtain possession of, lease, dispose of, or otherwise enforce Silicon's security interest in, the Collateral; and otherwise represent
Silicon in any litigation relating to Borrower. In satisfying Borrower's obligation hereunder to reimburse Silicon for attorneys fees, Borrower may, for convenience, issue
checks directly to Silicon's attorneys, Levy, Small & Lallas, but Borrower acknowledges and agrees that Levy, Small & Lallas is representing only Silicon and not Borrower in connection
with this Agreement. If either Silicon or Borrower files any lawsuit against the other predicated on a breach of this Agreement, the prevailing party in such action shall be
entitled to recover its reasonable costs and attorneys' fees, including (but not limited to) reasonable attorneys' fees and costs incurred in the enforcement of, execution upon or defense of any
order, decree, award or judgment. All attorneys' fees and costs to which Silicon may be entitled pursuant to this Paragraph shall immediately become part of Borrower's Obligations, shall be due on
demand, and shall bear interest at a rate equal to the highest interest rate applicable to any of the Obligations. 

    *(subject to the provisions of Section 5.4 of this Agreement)  

     9.13    Benefit of Agreement.  The
provisions of this Agreement shall be binding upon and inure to the benefit of the respective successors, assigns, heirs, beneficiaries and representatives of Borrower and Silicon; provided, however,
that Borrower may not assign or transfer any of its rights under this Agreement without the prior written consent of Silicon, and any prohibited assignment shall be void. No consent by Silicon to any
assignment shall release Borrower from its liability for the Obligations. 

19

 

    9.14    Joint and Several Liability.  If Borrower consists
of more than one Person, their liability shall be joint and several, and the compromise of any claim with, or the release of, any Borrower shall not constitute a compromise with, or a release of, any
other Borrower. 

    9.15    Limitation of Actions.  Any claim or cause of
action by Borrower against Silicon, its directors, officers, employees, agents, accountants or attorneys, based upon, arising from, or relating to this Loan Agreement, or any other present or future
document or agreement, or any other transaction contemplated hereby or thereby or relating hereto or thereto, or any other matter, cause or thing whatsoever, occurred, done, omitted or suffered to be
done by Silicon, its directors, officers, employees, agents, accountants or attorneys, shall be barred unless asserted by Borrower by the commencement of an action or proceeding in a court of
competent jurisdiction by the filing of a complaint within one year after the first act, occurrence or omission upon which such claim or cause of action, or any part thereof, is based, and the service
of a summons and complaint on an officer of Silicon, or on any other person authorized to accept service on behalf of Silicon, within thirty (30) days thereafter. Borrower agrees that such
one-year period is a reasonable and sufficient time for Borrower to investigate and act
upon any such claim or cause of action. The one-year period provided herein shall not be waived, tolled, or extended except by the written consent of Silicon in its sole discretion. This
provision shall survive any termination of this Loan Agreement or any other present or future agreement. 

    9.16    Paragraph Headings; Construction.  Paragraph
headings are only used in this Agreement for convenience. Borrower and Silicon acknowledge that the headings may not describe completely the subject matter of the applicable paragraph, and the
headings shall not be used in any manner to construe, limit, define or interpret any term or provision of this Agreement. The term "including", whenever used in this Agreement, shall mean "including
(but not limited to)". This Agreement has been fully reviewed and negotiated between the parties and no uncertainty or ambiguity in any term or provision of this Agreement shall be construed strictly
against Silicon or Borrower under any rule of construction or otherwise. 

    9.17    Governing Law; Jurisdiction; Venue.  This Agreement
and all acts and transactions hereunder and all rights and obligations of Silicon and Borrower shall be governed by the laws of the State of California. As a material part of the consideration to
Silicon to enter into this Agreement, Borrower (i) agrees that all actions and proceedings relating directly or indirectly to this Agreement shall, at Silicon's option, be litigated in courts
located within California, and that the exclusive venue therefor shall be Santa Clara County; (ii) consents to the jurisdiction and venue of any such court and consents to service of process in
any such action or proceeding by personal delivery or any other method permitted by law; and (iii) waives any and all rights Borrower may have to object to the jurisdiction of any such court,
or to transfer or change the venue of any such action or proceeding. 

    9.18    Mutual Waiver of Jury
Trial.  BORROWER AND SILICON EACH HEREBY WAIVE THE RIGHT TO TRIAL BY JURY IN ANY ACTION OR PROCEEDING BASED UPON, ARISING OUT OF, OR IN
ANY WAY RELATING TO, THIS AGREEMENT OR ANY OTHER PRESENT OR FUTURE INSTRUMENT OR AGREEMENT BETWEEN SILICON AND BORROWER, OR ANY CONDUCT, ACTS OR OMISSIONS OF SILICON OR BORROWER OR ANY OF THEIR
DIRECTORS, OFFICERS, EMPLOYEES, AGENTS, ATTORNEYS OR ANY OTHER PERSONS AFFILIATED WITH SILICON OR BORROWER, IN ALL OF THE FOREGOING CASES, WHETHER SOUNDING IN CONTRACT OR TORT OR
OTHERWISE.

20

 

    Borrower:

	 	 	THE COBALT GROUP, INC.
	

 	
 	

By	
 	

/s/ DAVID S. SNYDER   
	 	 	 	 	
President or Vice President
	

 	
 	

By	
 	

/s/ LEE J. BRUNZ   
	 	 	 	 	
Secretary or Ass't Secretary

    Borrower:

	 	 	PARTSVOICE, LLC
	

 	
 	

By:	
 	

THE COBALT GROUP, INC.
	

 	
 	

Its:	
 	

Manager
	

 	
 	

 	
 	

By	
 	

/s/ DAVID S. SNYDER   
	 	 	 	 	 	 	
President or Vice President
	

 	
 	

 	
 	

By	
 	

/s/ LEE J. BRUNZ   
	 	 	 	 	 	 	
Secretary or Ass't Secretary

    Borrower:

	 	 	INTEGRALINK CORPORATION
	

 	
 	

By	
 	

/s/ DAVID S. SNYDER   
	 	 	 	 	
President or Vice President
	

 	
 	

By	
 	

/s/ LEE J. BRUNZ   
	 	 	 	 	
Secretary or Ass't Secretary

    Silicon:

	 	 	SILICON VALLEY BANK
	

 	
 	

By	
 	

/s/ DON CHANDLER   
	 	 	 	 	

	

 	
 	

Title	
 	

 
	 	 	 	 	

21

   Silicon Valley Bank  

Schedule to

Loan and Security Agreement  

	Borrower:	 	The Cobalt Group, Inc.

PartsVoice, LLC

IntegraLink Corporation
	

Address:	
 	

2200 First Avenue South

Seattle, WA 98134
	

Date:	
 	

March 8, 2001

    This
Schedule forms an integral part of the Loan and Security Agreement between Silicon Valley Bank and the above-borrower of even date. 

	
1.	

CREDIT LIMIT

(Section 1.1):	
 	

An amount not to exceed the lesser of: (i) $10,000,000 at any one time outstanding (the "Maximum Credit Limit"); or (ii) 80% of the amount of
Borrower's Eligible Receivables (as defined in Section 8 above).
	

 	

 	
 	

Loans will be made to each Borrower based on the Eligible Receivables of each Borrower, subject to the Maximum Credit Limit set forth above for all Loans to all Borrowers combined.
	

 	
Cash Management Sublimit

(Section 1.6):	
 	
See Section 1.6 above.
	
2.	

INTEREST.	
 	

 	

 
	

 	
Interest Rate

(Section 1.2):	
 	

A rate equal to the "Prime Rate" in effect from time to time, plus 2.0% per annum. Interest shall be calculated on the basis of a 360-day year for the actual number of days elapsed. "Prime Rate" means
the rate announced from time to time by Silicon as its "prime rate;" it is a base rate upon which other rates charged by Silicon are based, and it is not necessarily the best rate available at Silicon. The interest rate applicable to the Obligations
shall change on each date there is a change in the Prime Rate.
	

 	
Minimum Monthly Interest (Section 1.2):	
 	

N/A
	
3.	

FEES (Section 1.4):	
 	

 	

 
	

 	

Loan Fee:	
 	

$125,000, payable as follows: $75,000, payable concurrently herewith and $50,000, payable on or before the first anniversary of this Agreement.
	

 	

Collateral Monitoring Fee:	
 	

$1,500, per month, payable in arrears (prorated for any partial month at the beginning and at termination of this Agreement).
	
	

 	
 	

 	

 

1

 

	

 	

Unused Line Fee:	
 	

Borrower shall pay Silicon an Unused Line Fee, in addition to all interest and other fees payable hereunder. The amount of the Unused Line Fee shall be 0.25% per annum multiplied by an amount equal to
the Maximum Credit Limit minus the average daily balance of the outstanding Loans. The Unused Line Fee shall be computed and paid monthly, in arrears (prorated for any partial calendar month at the beginning and at termination of this Agreement), and
shall be due on the last calendar day of each month.
	
4.	

MATURITY DATE

(Section 6.1):	
 	

Two years from the date of this Agreement.
	
5.	

FINANCIAL COVENANTS

(Section 5.1):	
 	

The Cobalt Group, Inc. shall, on a consolidated basis, comply with the following covenant. Compliance shall be determined as of the end of each month, except as otherwise specifically provided below:
	

 	
Minimum Tangible Net Worth:	
 	

Borrower shall maintain a Tangible Net Worth of not less than the following:
	

 	

 	
 	

For the months ending February 28, 2001 and March 31, 2001: $17,744,000 plus 50% of the consideration received by Borrower after the date hereof for the issuance of equity securities of
Borrower.
	

 	

 	
 	

For the months ending April 30, 2001, May 31, 2001 and June 30, 2001: $12,754,000 plus 50% of the consideration received by Borrower after the date hereof for the issuance of equity
securities of Borrower.
	

 	

 	
 	

For the months ending July 31, 2001, August 31, 2001 and September 30, 2001: $9,695,000 plus 50% of the consideration received by Borrower after the date hereof for the issuance of equity
securities of Borrower.
	

 	

 	
 	

For the months ending October 31, 2001, November 30, 2001 and December 31, 2001: $8,302,000 plus 50% of the consideration received by Borrower after the date hereof for the issuance of
equity securities of Borrower.
	

 	

 	
 	

For the months ending January 31, 2002, February 28, 2002 and March 31, 2002: $9,695,000 plus 50% of the consideration received by Borrower after the date hereof for the issuance of equity
securities of Borrower.
	

 	

 	
 	

For the months ending April 30, 2002, May 31. 2002 and June 30, 2002: $9,695,000 plus 50% of the consideration received by Borrower after the date hereof for the issuance of equity
securities of Borrower plus 50% of Borrower's quarterly net income, if any, for the fiscal quarter ending March 31, 2002.
	
	

 	
 	

 	

 

2

 

	

 	

 	
 	

For the months ending July 31, 2002, August 31. 2002 and September 30, 2002: $9,695,000 plus 50% of the consideration received by Borrower after the date hereof for the issuance of equity
securities of Borrower plus 50% of Borrower's quarterly net income, if any, for the fiscal quarters ending March 31, 2002 and June 30, 2002.
	

 	

 	
 	

For the months ending October 31, 2002, November 30. 2002 and December 31, 2002: $9,695,000 plus 50% of the consideration received by Borrower after the date hereof for the issuance of
equity securities of Borrower plus 50% of Borrower's quarterly net income, if any, for the fiscal quarters ending March 31, 2002, June 30, 2002 and September 30, 2002.
	

 	

 	
 	

For the month ending January 31, 2003 and each month ending thereafter: $9,695,000 plus 50% of the consideration received by Borrower after the date hereof for the issuance of equity securities of
Borrower plus 50% of Borrower's quarterly net income, if any, for the fiscal quarters ending March 31, 2002, June 30, 2002, September 30, 2002 and December 31, 2002.
	

 	

 	
 	

In no event shall the amount of this Minimum Tangible Net Worth financial covenant be decreased.
	

 	
Definitions.	
 	

For purposes of the foregoing financial covenant, the following term shall have the following meaning:
	

 	

 	
 	

"Current assets", "current liabilities" and "liabilities" shall have the meaning ascribed thereto by generally accepted accounting principles.
	

 	

 	
 	

"Tangible Net Worth" shall mean the excess of total assets over total liabilities, determined in accordance with generally accepted accounting principles, with the following adjustments:
	

 	

 	
 	

 	

(A) there shall be excluded from assets: (i) notes, accounts receivable and other obligations owing to the Borrower from its officers or other Affiliates, and (ii) all assets which would be classified as intangible assets under generally
accepted accounting principles, including without limitation goodwill, licenses, patents, trademarks, trade names, copyrights, capitalized software and organizational costs, licenses and franchises
	

 	

 	
 	

 	

(B) there shall be excluded from liabilities: all indebtedness which is subordinated to the Obligations under a subordination agreement in form specified by Silicon or by language in the instrument evidencing the indebtedness which is acceptable to
Silicon in its discretion.
	
	

 	
 	

 	

 

3

 

	
6.	

REPORTING.

(Section 5.3):	
 	

 	

 
	

 	

 	
 	

Borrower shall provide Silicon with the following:
	

 	

 	
 	

1.	

Monthly Receivable agings, aged by invoice date, within fifteen days after the end of each month.
	

 	

 	
 	

2.	

Monthly accounts payable agings, aged by invoice date, within fifteen days after the end of each month.
	

 	

 	
 	

3.	

Monthly reconciliations of Receivable agings (aged by invoice date), transaction reports, and general ledger, within thirty days after the end of each month.
	

 	

 	
 	

4.	

 
	

 	

 	
 	

5.	

Monthly consolidated and consolidating unaudited financial statements, as soon as available, and in any event within thirty days after the end of each month.
	

 	

 	
 	

6.	

Monthly Compliance Certificates, within thirty days after the end of each month, in such form as Silicon shall reasonably specify, signed by the Chief Financial Officer of Borrower, certifying that as of the end of such month Borrower was in full
compliance with all of the terms and conditions of this Agreement, and setting forth calculations showing compliance with the financial covenant set forth in this Agreement and such other information as Silicon shall reasonably request, including,
without limitation, all outstanding or held check registers, if any, or, if applicable, a statement that at the end of such month there were no held checks.
	

 	

 	
 	

7.	

Quarterly unaudited financial statements, as soon as available, and in any event within forty-five days after the end of each fiscal quarter of Borrower.
	

 	

 	
 	

8.	

Annual operating budgets (including income statements, balance sheets and cash flow statements, by month) for the upcoming fiscal year of Borrower within thirty days prior to the end of each fiscal year of Borrower; provided, however, Borrower shall provide its fiscal year 2002 operating budgets to Silicon by no later than September 30, 2001.
	

 	

 	
 	

9.	

Annual financial statements, as soon as available, and in any event within 90 days following the end of Borrower's fiscal year, certified by Price Waterhouse Coopers, or other independent certified public accountants acceptable to
Silicon.
	
7.	

COMPENSATION

(Section 5.5):	
 	

 	

Not Applicable.
		

 	
 	

 	

 

4

 

	
8.	

BORROWER INFORMATION:	
 	

 	

 
	

 	
Prior Names of Borrower

(Section 3.2):	
 	

See Representations and Warranties dated October 2, 2000.
	

 	
Prior Trade Names of Borrower

(Section 3.2):	
 	

See Representations and Warranties dated October 2, 2000.
	

 	
Existing Trade Names of Borrower

(Section 3.2):	
 	

See Representations and Warranties dated October 2, 2000.
	

 	
Other Locations and Addresses

(Section 3.3):	
 	

7004 Bee Cave Road, Suite 100, Austin, TX 78746; 8305 SE Monterey, Suite 104, Portland, OR 97266; 2701 Troy Center Drive, Suite 220, Troy, MI 48084; 2790 Fisher Road, Columbus, OH 43204.
	

 	
Material Adverse Litigation 

(Section 3.10):	
 	

None.
	
9.	

OTHER COVENANTS

(Section 5.1):	
 	

Borrower shall at all times comply with all of the following additional covenants:
	

 	

 	
 	
(1)	

Banking Relationship. Borrower shall at all times maintain its primary banking relationship with Silicon.
	

 	

 	
 	
(2)	

Subordination of Inside Debt. All present and future indebtedness of the Borrower to its shareholders, to whom it owes more than $25,000, its officers and directors ("Inside Debt") shall, at all times, be subordinated to the
Obligations pursuant to a subordination agreement on Silicon's standard form except for Unsubordinated Insider Indebtedness (defined as collectively, (i) indebtedness for reimbursement of out of pocket expenses in the ordinary course of business
and (ii) indebtedness for liabilities in the nature of indemnification, contribution and exoneration to the extent such liabilities of Borrower are directly or indirectly funded by Persons other than Borrower, such as insurers or indemnitors).
Borrower represents and warrants that there is no Inside Debt presently outstanding, except for the following: NONE. Prior to incurring any Inside Debt in the future, Borrower shall cause the person to whom such Inside Debt will be owed to execute
and deliver to Silicon a subordination agreement on Silicon's standard form.
	
	

 	
 	

 	

 

5

 

	

 	

 	
 	
(3)	

Copyright Filings. Concurrently, each Borrower is executing and delivering to Silicon a Patent Mortgage and Security Agreement between Borrower and Silicon (the "Intellectual Property Agreement"). Within 30 days after the
date hereof, Borrower shall (i) cause all of the following computer software, the licensing of which results in Receivables, to be registered with the United States Copyright Office: Cobalt Web Publishing System 1.0, Lead Manager 1.0, Lead
Manager Redirect 1.0, Lead Manager Reports 1.0, Auto Show 2.2, 2.4, myCarTools 1.0, AdWizards 2.3, Secure Prequal 1.0 and FSBO 1.0, (ii) complete the Exhibits to the Intellectual Property Agreement with all of the information called for with
respect to such software, (iii) cause the Intellectual Property Agreement to be recorded in the United States Copyright Office, and (iv) provide evidence of such recordation to Silicon. Within 45 days after the date hereof, Borrower
shall (i) cause all remaining computer software, the licensing of which results in Receivables, to be registered with the United States Copyright Office, (ii) update the Exhibits to the Intellectual Property Agreement with all of the
information called for with respect to such software, (iii) execute a Supplement to the Intellectual Property Agreement with respect to such software, (iv) cause the Supplement to the Intellectual Property Agreement to be recorded in the
United States Copyright Office, and (v) provide evidence of such recordation to Silicon. Notwithstanding anything to the contrary in the Intellectual Property Agreement, with respect to computer software, the licensing of which results in
Receivables, developed by Borrower after the date hereof, Borrower shall register such computer software on a quarterly basis with the United States Copyright Office, cause the Intellectual Property Agreement to be amended to include such software,
cause such amendment to be recorded in the United States Copyright Office and provide evidence of such recordation to Silicon.
	

 	

 	
 	
(4)	

Cobalt Group, L.L.C. Financing Statements. Borrower represents and warrants to Silicon that "Cobalt Group, L.L.C." is not the same entity as The Cobalt Group, Inc., the Borrower under this Agreement, and that the UCC-1
Financing Statements filed in favor of The Laredo National Bank, or any other secured party, listing "Cobalt Group, L.L.C." or "Cobalt Group, L.L.C. d/b/a Cobalt Construction Co." as the debtor do not represent any liens or security interests on the
assets of the Borrower.
	
	

 	
 	

 	

 

6

 

	
10.	

OTHER PERMITTED LIENS

(Clause (ix) of Permitted Liens):	
 	

Lien in favor of General Electric Capital Auto Financial Services, Inc. on all of Borrower's right, title and interest in all computer software, programs and information that consist of a modification, upgrade, enhancement, change, repair or
improvement of or to the computer software licensed by such secured party to Borrower pursuant to that certain Software License, dated August 18, 2000 between Borrower and such secured party, and all proceeds thereof.

7

  

	Borrower:	 	Silicon:
	

 	
 	

THE COBALT GROUP, INC.	
 	

SILICON VALLEY BANK
	

 	
 	

By	
 	

/s/ DAVID S. SNYDER   
President or Vice President	
 	

By	
 	

/s/ DON CHANDLER   

	 	 	 	 	 	 	 	 	Title	 	 
	 	 	 	 	 	 	 	 	 	 	

	

 	
 	

By	
 	

/s/ LEE J. BRUNZ   
Secretary or Ass't Secretary	
 	

 	
 	

 
	

Borrower:	
 	

 	
 	

 
	

 	
 	

PARTSVOICE, LLC	
 	

 	
 	

 
	

 	
 	

By:	
 	

THE COBALT GROUP, INC.	
 	

 	
 	

 
	 	 	Its:	 	Manager	 	 	 	 
	

 	
 	

 	
 	

By	
 	

/s/ DAVID S. SNYDER   
President or Vice President	
 	

 	
 	

 
	

 	
 	

 	
 	

By	
 	

/s/ LEE J. BRUNZ   
Secretary or Ass't Secretary	
 	

 	
 	

 
	

Borrower:	
 	

 	
 	

 
	

 	
 	

INTEGRALINK CORPORATION	
 	

 	
 	

 
	

 	
 	

By	
 	

/s/ DAVID S. SNYDER   
President or Vice President	
 	

 	
 	

 
	

 	
 	

By	
 	

/s/ LEE J. BRUNZ   
Secretary or Ass't Secretary	
 	

 	
 	

 

8

   Silicon Valley Bank  

Certified Resolution and Incumbency Certificate  

	Borrower:	 	The Cobalt Group, Inc.,

a corporation organized under the laws of the State of Washington
	

Date:	
 	

March 8, 2001

I,
the undersigned, Secretary or Assistant Secretary of the above-named borrower, a corporation organized under the laws of the state set forth above, do hereby certify that the following is a full,
true and correct copy of resolutions duly and regularly adopted by the Board of Directors of said corporation as required by law, and by the by-laws of said corporation, and that said
resolutions are still in full force and effect and have not been in any way modified, repealed, rescinded, amended or revoked. 

RESOLVED,
that this corporation borrow from Silicon, from time to time, such sum or sums of money as, in the judgment of the officer or officers hereinafter authorized hereby, this corporation may
require; 

RESOLVED,
that any officer of this corporation be, and he or she is hereby authorized, directed and empowered, in the name of this corporation, to execute and deliver to Silicon, and Silicon is
requested to accept, the loan agreements, security agreements, notes, financing statements, and other documents and instruments providing for such loans and evidencing and/or securing such loans, with
interest thereon, and said authorized officers are authorized from time to time to execute renewals, extensions
and/or amendments of said loan agreements, security agreements, and other documents and instruments; 

RESOLVED,
that said authorized officers be and they are hereby authorized, directed and empowered, as security for any and all indebtedness of this corporation to Silicon, whether arising pursuant to
this resolution or otherwise, to grant, transfer, pledge, mortgage, assign, or otherwise hypothecate to Silicon, or deed in trust for its benefit, any property of any and every kind, belonging to this
corporation, including, but not limited to, any and all real property, accounts, inventory, equipment, general intangibles, instruments, documents, chattel paper, notes, money, deposit accounts,
furniture, fixtures, goods, and other property of every kind, and to execute and deliver to Silicon any and all grants, transfers, trust receipts, loan or credit agreements, pledge agreements,
mortgages, deeds of trust, financing statements, security agreements and other hypothecation agreements, which said instruments and the note or notes and other instruments referred to in the preceding
paragraph may contain such provisions, covenants, recitals and agreements as Silicon may require and said authorized officers may approve, and the execution thereof by said authorized officers shall
be conclusive evidence of such approval; and 

RESOLVED,
that Silicon may conclusively rely upon a certified copy of these resolutions and a certificate of the Secretary of this corporation as to the officers of this corporation and their offices
and signatures, and continue to conclusively rely on such certified copy of these resolutions and said certificate for all past, present and future transactions until written notice of any change
hereto or thereto is given to Silicon by this corporation by certified mail, return receipt requested. 

1

 

    The
undersigned further hereby certifies that the following persons are the duly elected and acting officers of the corporation named above as borrower and that the following are
their actual signatures: 

	NAMES
 
	 	OFFICE(S)
	 	ACTUAL SIGNATURES

	John W.P. Holt	 	President & Chief Executive Officer	 	x	 	/s/ JOHN W.P. HOLT   

	

David S. Snyder	
 	

Executive Vice President & CFO	
 	

x	
 	

/s/ DAVID S. SNYDER   

	

Lee J. Brunz	
 	

General Counsel & Secretary	
 	

x	
 	

/s/ LEE J. BRUNZ   

	

 	
 	

 	
 	

x	
 	

 
	 	 	 	 	 	 	

    IN
WITNESS WHEREOF, I have hereunto set my hand as such Secretary on the date set forth above. 

	 	 	/s/ LEE J. BRUNZ   
Secretary

2

   Silicon Valley Bank  

Certified Resolution and Incumbency Certificate  

	Borrower:	 	PartsVoice, LLC,

a limited liability company organized under the laws of the State of Oregon
	

Date:	
 	

March 8, 2001

I,
the undersigned, Manager, Secretary or Assistant Secretary of the above-named borrower, a limited liability company organized under the laws of the state set forth above ("LLC"), do hereby certify
that the following is a full, true and correct copy of resolutions duly and regularly adopted by the Members of said company as required by law, and by the operating agreement of said company, and
that said resolutions are still in full force and effect and have not been in any way modified, repealed, rescinded, amended or revoked. 

RESOLVED,
that this LLC borrow from Silicon, from time to time, such sum or sums of money as, in the judgment of the manager, this LLC may require; 

RESOLVED,
that the manager of this LLC be, and is hereby authorized, directed and empowered, in the name of this LLC, to execute and deliver to Silicon, and Silicon is requested to accept, the loan
agreements, security agreements, notes, financing statements, and other documents and instruments providing for such loans and evidencing and/or securing such loans, with interest thereon, and said
authorized manager is authorized from time to time to execute renewals, extensions and/or amendments of said loan agreements, security agreements, and other documents and instruments; 

RESOLVED,
that said authorized manager be and is hereby authorized, directed and empowered, as security for any and all indebtedness of this LLC to Silicon, whether arising pursuant to this resolution
or otherwise, to grant, transfer, pledge, mortgage, assign, or otherwise hypothecate to Silicon, or deed in trust for its benefit, any property of any and every kind, belonging to this LLC, including,
but not limited to, any and all real property, accounts, inventory, equipment, general intangibles, instruments, documents, chattel paper, notes, money, deposit accounts, furniture, fixtures, goods,
and other property of every kind, and to execute and deliver to Silicon any and all grants, transfers, trust receipts, loan or credit agreements, pledge agreements, mortgages, deeds of trust,
financing statements, security agreements and other hypothecation agreements, which said instruments and the note or notes and other instruments referred to in the preceding paragraph may contain such
provisions, covenants, recitals and agreements as Silicon may require and said authorized manager may approve, and the execution thereof by said authorized manager shall be conclusive evidence of such
approval; and 

RESOLVED,
that Silicon may conclusively rely upon a certified copy of these resolutions and a certificate of the sole member of this LLC as to the manage of this LLC and such manager's signatures, and
continue to conclusively rely on such certified copy of these resolutions and said certificate for all past, present and future transactions until written notice of any change hereto or thereto is
given to Silicon by this LLC by certified mail, return receipt requested. 

1

 

    The
undersigned further hereby certifies that the following person is the duly elected and acting manager and sole member of the LLC named above as borrower and that the following is
the actual signature of the authorized chief executive officer thereof: 

	NAMES
 
	 	OFFICE(S)
	 	ACTUAL SIGNATURES

	The Cobalt Group, Inc.	 	Manager	 	By x	 	/s/ JOHN W.P. HOLT   
 John W.P. Holt
 President & CEO

    IN
WITNESS WHEREOF, I have hereunto set my hand as Secretary of such Manager on the date set forth above. 

	 	 	/s/ LEE J. BRUNZ   
Secretary of Manager

2

   Silicon Valley Bank  

Certified Resolution and Incumbency Certificate  

	Borrower:	 	IntegraLink Corporation,

a corporation organized under the laws of the State of Washington
	

Date:	
 	

March 8, 2001

I,
the undersigned, Secretary or Assistant Secretary of the above-named borrower, a corporation organized under the laws of the state set forth above, do hereby certify that the following is a full,
true and correct copy of resolutions duly and regularly adopted by the Board of Directors of said corporation as required by law, and by the by-laws of said corporation, and that said
resolutions are still in full force and effect and have not been in any way modified, repealed, rescinded, amended or revoked. 

RESOLVED,
that this corporation borrow from Silicon, from time to time, such sum or sums of money as, in the judgment of the officer or officers hereinafter authorized hereby, this corporation may
require; 

RESOLVED,
that any officer of this corporation be, and he or she is hereby authorized, directed and empowered, in the name of this corporation, to execute and deliver to Silicon, and Silicon is
requested to accept, the loan agreements, security agreements, notes, financing statements, and other documents and instruments providing for such loans and evidencing and/or securing such loans, with
interest thereon, and said authorized officers are authorized from time to time to execute renewals, extensions
and/or amendments of said loan agreements, security agreements, and other documents and instruments; 

RESOLVED,
that said authorized officers be and they are hereby authorized, directed and empowered, as security for any and all indebtedness of this corporation to Silicon, whether arising pursuant to
this resolution or otherwise, to grant, transfer, pledge, mortgage, assign, or otherwise hypothecate to Silicon, or deed in trust for its benefit, any property of any and every kind, belonging to this
corporation, including, but not limited to, any and all real property, accounts, inventory, equipment, general intangibles, instruments, documents, chattel paper, notes, money, deposit accounts,
furniture, fixtures, goods, and other property of every kind, and to execute and deliver to Silicon any and all grants, transfers, trust receipts, loan or credit agreements, pledge agreements,
mortgages, deeds of trust, financing statements, security agreements and other hypothecation agreements, which said instruments and the note or notes and other instruments referred to in the preceding
paragraph may contain such provisions, covenants, recitals and agreements as Silicon may require and said authorized officers may approve, and the execution thereof by said authorized officers shall
be conclusive evidence of such approval; and 

RESOLVED,
that Silicon may conclusively rely upon a certified copy of these resolutions and a certificate of the Secretary of this corporation as to the officers of this corporation and their offices
and signatures, and continue to conclusively rely on such certified copy of these resolutions and said certificate for all past, present and future transactions until written notice of any change
hereto or thereto is given to Silicon by this corporation by certified mail, return receipt requested. 

1

 

    The
undersigned further hereby certifies that the following persons are the duly elected and acting officers of the corporation named above as borrower and that the following are
their actual signatures: 

	NAMES
 
	 	OFFICE(S)
	 	ACTUAL SIGNATURES

	John W.P. Holt	 	President	 	x	 	/s/ JOHN W.P. HOLT   

	David S. Snyder	 	Vice President	 	x	 	/s/ DAVID S. SNYDER   

	Lee J. Brunz	 	Secretary	 	x	 	/s/ LEE J. BRUNZ   

	 	 	 	 	x	 	 
	 	 	 	 	 	 	

    IN
WITNESS WHEREOF, I have hereunto set my hand as such Secretary on the date set forth above. 

	 	 	/s/ LEE J. BRUNZ   
Secretary

2

Silicon Valley Bank  

NOTICE OF SECURITY INTEREST
  March 8, 2001 

Certified
Mail, Return Receipt Requested 

BancBoston
Robertson Stephens

555 California Street

San Francisco, CA 94104 

Re:
THE COBALT GROUP, INC. 

Ladies
and Gentlemen: 

    Notice
is hereby given that your above-named customer has granted a security interest in all of its present and future deposit accounts maintained with your institution, general and
special, and of every other kind, to Silicon Valley Bank, 3003 Tasman Drive, Santa Clara, California 95054. 

    Please
contact the undersigned at 408-654-1070, if you have any questions about this matter. 

	 	 	 	 	Sincerely yours,
	

 	
 	

 	
 	

Silicon Valley Bank
	

 	
 	

 	
 	

By	
 	

 
	 	 	 	 	 	 	

	 	 	 	 	Title	 	 
	 	 	 	 	 	 	

	

THE COBALT GROUP, INC.	
 	

 	
 	

 
	

By	
 	

/s/ DAVID S. SNYDER   
	
 	

 	
 	

 
	Title	 	Chief Financial Officer,

Executive Vice President
	 	 	 	 

Silicon Valley Bank  

NOTICE OF SECURITY INTEREST
  March 8, 2001 

Certified
Mail, Return Receipt Requested 

U.S.
Bank

Private Financial Services

111 SW 5th Avenue, Suite 600

Portland, OR 97204 

Re:
PARTSVOICE, LLC 

Ladies
and Gentlemen: 

    Notice
is hereby given that your above-named customer has granted a security interest in all of its present and future deposit accounts maintained with your institution, general and
special, and of every other kind, to Silicon Valley Bank, 3003 Tasman Drive, Santa Clara, California 95054. 

    Please
contact the undersigned at 408-654-1070, if you have any questions about this matter. 

	 	 	 	 	 	 	Sincerely yours,
	

 	
 	

 	
 	

 	
 	

Silicon Valley Bank
	

 	
 	

 	
 	

 	
 	

By	
 	

 
	 	 	 	 	 	 	 	 	

	 	 	 	 	 	 	Title	 	 
	 	 	 	 	 	 	 	 	

	

PARTSVOICE, LLC	
 	

 	
 	

 
	

By:	
 	

The Cobalt Group, Inc.	
 	

 	
 	

 
	

 	
 	

By	
 	

/s/ DAVID S. SNYDER   
	
 	

 	
 	

 
	 	 	Title	 	Chief Financial Officer,

Executive Vice President

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