Document:

EX-10.5

 Exhibit 10.5 

MINDBODY, INC. 

EXECUTIVE BONUS PLAN 
 1.
Purposes of the Plan. The Plan is intended to increase shareholder value and the success of the Company by motivating Employees to (a) perform to the best of their abilities, and (b) achieve the Company’s objectives. 

2. Definitions. 
 (a)
“Actual Award” means as to any Performance Period, the actual award (if any) payable to a Participant for the Performance Period, subject to the Committee’s authority under Section 3(d) to modify the award. 

(b) “Affiliate” means any corporation or other entity (including, but not limited to, partnerships and joint
ventures) controlled by the Company. 
 (c) “Board” means the Board of Directors of the Company. 

(d) “Bonus Pool” means the pool of funds available for distribution to Participants. Subject to the terms of the Plan, the
Committee establishes the Bonus Pool for each Performance Period. 
 (e) “Code” means the Internal Revenue Code of 1986, as
amended. Reference to a specific section of the Code or regulation thereunder will include such section or regulation, any valid regulation promulgated thereunder, and any comparable provision of any future legislation or regulation amending,
supplementing or superseding such section or regulation. 
 (f) “Committee” means the committee appointed by the Board
(pursuant to Section 5) to administer the Plan. Unless and until the Board otherwise determines, the Board’s Compensation Committee will be the Committee administering the Plan. 

(g) “Company” means MINDBODY, Inc., a California corporation, or any successor thereto. 

(h) “Disability” means a permanent and total disability determined in accordance with uniform and nondiscriminatory standards
adopted by the Committee from time to time. 
 (i) “Employee” means any executive, officer, or other employee of the
Company or of an Affiliate, whether such individual is so employed at the time the Plan is adopted or becomes so employed subsequent to the adoption of the Plan. 

(j) “Fiscal Year” means the fiscal year of the Company. 

(k) “Participant” means as to any Performance Period, an Employee who has been selected by the Committee for participation in
the Plan for that Performance Period. 

 (l) “Performance Period” means the period of time for the measurement of the
performance criteria that must be met to receive an Actual Award, as determined by the Committee in its sole discretion. A Performance Period may be divided into one or more shorter periods if, for example, but not by way of limitation, the
Committee desires to measure some performance criteria over 12 months and other criteria over 3 months. 
 (m) “Plan” means
this Executive Bonus Plan, as set forth in this instrument (including any appendix hereto) and as hereafter amended from time to time. 

(n) “Target Award” means the target award, at 100% of target level performance achievement, payable under the Plan to a
Participant for the Performance Period, as determined by the Committee in accordance with Section 3(b). 
 3. Selection of
Participants and Determination of Awards. 
 (a) Selection of Participants. The Committee, in its sole discretion, will select the
Employees who will be Participants for any Performance Period. Participation in the Plan is in the sole discretion of the Committee, on a Performance Period by Performance Period basis. Accordingly, an Employee who is a Participant for a given
Performance Period in no way is guaranteed or assured of being selected for participation in any subsequent Performance Period or Periods. 

(b) Determination of Target Awards. The Committee, in its sole discretion, will establish a Target Award for each Participant (which
may be expressed as a percentage of a Participant’s average annual base salary for the Performance Period or a fixed dollar amount or such other amount or based on such other formula as the Committee determines). 

(c) Bonus Pool. Each Performance Period, the Committee, in its sole discretion, will establish a Bonus Pool, which pool may be
established before, during or after the applicable Performance Period. Actual Awards will be paid from the Bonus Pool. 
 (d) Discretion
to Modify Awards. Notwithstanding any contrary provision of the Plan, the Committee may, in its sole discretion and at any time, (i) increase, reduce or eliminate a Participant’s Actual Award, and/or (ii) increase, reduce or
eliminate the amount allocated to the Bonus Pool. The Actual Award may be below, at or above the Target Award, in the Committee’s discretion. The Committee may determine the amount of any increase, reduction or elimination on the basis of such
factors as it deems relevant, and will not be required to establish any allocation or weighting with respect to the factors it considers. 

(e) Discretion to Determine Criteria. Notwithstanding any contrary provision of the Plan, the Committee will, in its sole discretion,
determine the performance goals (if any) applicable to any Target Award (or portion thereof) which may include, without limitation: attainment of research and development milestones, average revenue per subscribers, billings, bookings, business
divestitures and acquisitions, cash flow, cash position, contract awards or losses, contract backlog, cost of acquisition, cost of delivery, customer-related losses and other measures, customer retention rates, business unit or division, earnings
(which may include any calculation of 

  
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earnings, including but not limited to earnings before interest and taxes, earnings before taxes, earnings before interest, taxes, depreciation and amortization, earnings before taxes, net
earnings and losses), earnings per share, employee retention, expenses, geographic expansion, gross margin, gross and/or net merchant processing volume, gross and/or net subscriber growth, growth in stockholder value relative to the moving average
of the S&P 500 Index or another index, hiring targets, internal rate of return, lifetime value of subscribers or customers, market share, milestone achievements, MRR growth, net billings, net income or losses, net profit, net revenue margin, net
sales, new product development, new product invention or innovation, number of customers, number of merchants, number of subscribers, operating cash flow, operating expenses, operating income or loss, operating margin, origination volume,
overhead or other expense reduction, portfolio conversion rate, product defect measures, product development, product release timelines, productivity, profit, return on assets, return on capital, return on equity, return on investment,
return on sales, revenue, revenue growth, sales efficiency, sales results, sales growth, stock price, time to market, total stockholder return, transaction processing measures, working capital, and individual objectives such as MBOs, peer
reviews or other subjective or objective criteria. As determined by the Committee, the performance goals may be based on generally accepted accounting principles (“GAAP”) or Non-GAAP results and any actual results may be adjusted by the
Committee for one-time items, unbudgeted or unexpected items and/or payments of Actual Awards under the Plan when determining whether the performance goals have been met. The goals may be on the basis of any factors the Committee determines
relevant, and may be on an individual, divisional, business unit, segment or Company-wide basis. Any criteria used may be measured on such basis as the Committee determines, including but not limited to, as applicable, (i) in absolute terms,
(ii) in combination with another performance goal or goals (for example, but not by way of limitation, as a ratio or matrix), (iii) in relative terms (including, but not limited to, results for other periods, passage of time and/or against
another company or companies or an index or indices), (iv) on a per-share basis, (v) against the performance of the Company as a whole or a segment of the Company and/or (vi) on a pre-tax or after-tax basis. The performance goals may
differ from Participant to Participant and from award to award. Failure to meet the goals will result in a failure to earn the Target Award, except as provided in Section 3(d). The Committee also may determine that a Target Award (or portion
thereof) will not have a performance goal associated with it but instead will be granted (if at all) in the sole discretion of the Committee. 

4. Payment of Awards. 

(a) Right to Receive Payment. Each Actual Award will be paid solely from the general assets of the Company. Nothing in this Plan will be
construed to create a trust or to establish or evidence any Participant’s claim of any right other than as an unsecured general creditor with respect to any payment to which he or she may be entitled. 

(b) Timing of Payment. Payment of each Actual Award shall be made as soon as practicable after the end of the Performance Period to
which the Actual Award relates and after the Actual Award is approved by the Committee, but in no event later than 60 days following the end of the applicable Performance Period. Unless otherwise determined by the Committee, to earn an Actual Award
a Participant must be employed by the Company or any Affiliate on the date the Actual Award is paid. 

  
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 It is the intent that this Plan be exempt from, or comply with, the requirements of Code
Section 409A so that none of the payments to be provided hereunder will be subject to the additional tax imposed under Code Section 409A, and any ambiguities herein will be interpreted to be so exempt or so comply. Each payment under this
Plan is intended to constitute a separate payment for purposes of Treasury Regulation Section 1.409A-2(b)(2). 
 (c) Form of
Payment. Each Actual Award will generally be paid in cash (or its equivalent) in a single lump sum. 
 (d) Payment in the Event
of Death or Disability. If a Participant dies or becomes is terminated due to his or her Disability prior to the payment of an Actual Award the Committee has determined will be paid for a prior Performance Period, the Actual Award will be paid
to his or her estate or to the Participant, as the case may be, subject to the Committee’s discretion to reduce or eliminate any Actual Award otherwise payable. 

5. Plan Administration. 

(a) Committee is the Administrator. The Plan will be administered by the Committee. The Committee will consist of not less than two
(2) members of the Board. The members of the Committee will be appointed from time to time by, and serve at the pleasure of, the Board. 

(b) Committee Authority. It will be the duty of the Committee to administer the Plan in accordance with the Plan’s provisions. The
Committee will have all powers and discretion necessary or appropriate to administer the Plan and to control its operation, including, but not limited to, the power to (i) determine which Employees will be granted awards, (ii) prescribe
the terms and conditions of awards, (iii) interpret the Plan and the awards, (iv) adopt such procedures and sub-plans as are necessary or appropriate to permit participation in the Plan by Employees who are foreign nationals or employed
outside of the United States, (v) adopt rules for the administration, interpretation and application of the Plan as are consistent therewith, and (vi) interpret, amend or revoke any such rules. 

(c) Decisions Binding. All determinations and decisions made by the Committee, the Board, and any delegate of the Committee pursuant to
the provisions of the Plan will be final, conclusive, and binding on all persons, and will be given the maximum deference permitted by law. 

(d) Delegation by Committee. The Committee, in its sole discretion and on such terms and conditions as it may provide, may delegate all
or part of its authority and powers under the Plan to one or more directors and/or officers of the Company. 
 (e)
Indemnification. Each person who is or will have been a member of the Committee will be indemnified and held harmless by the Company against and from (i) any loss, cost, liability, or expense that may be imposed upon or reasonably
incurred by him or her in connection with or resulting from any claim, action, suit, or proceeding to which he or she may be a party or in which he or she may be involved by reason of any action taken or failure to act under the Plan or any award,
and (ii) from any and all amounts paid by him or her in settlement thereof, with 

  
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the Company’s approval, or paid by him or her in satisfaction of any judgment in any such claim, action, suit, or proceeding against him or her, provided he or she will give the Company an
opportunity, at its own expense, to handle and defend the same before he or she undertakes to handle and defend it on his or her own behalf. The foregoing right of indemnification will not be exclusive of any other rights of indemnification to which
such persons may be entitled under the Company’s Certificate of Incorporation or Bylaws, by contract, as a matter of law, or otherwise, or under any power that the Company may have to indemnify them or hold them harmless. 

6. General Provisions. 

(a) Tax Withholding. The Company will withhold all applicable taxes from any Actual Award, including any federal, state and local taxes
(including, but not limited to, the Participant’s FICA and SDI obligations). 
 (b) No Effect on Employment or Service. Nothing
in the Plan will interfere with or limit in any way the right of the Company to terminate any Participant’s employment or service at any time, with or without cause. Employment with the Company and its Affiliates is on an at-will basis only.
For purposes of the Plan, transfer of employment of a Participant between the Company and any one of its Affiliates (or between Affiliates) will not be deemed a termination of employment. The Company expressly reserves the right, which may be
exercised at any time and without regard to when during a Performance Period such exercise occurs, to terminate any individual’s employment with or without cause, and to treat him or her without regard to the effect that such treatment might
have upon him or her as a Participant. 
 (c) Participation. No Employee will have the right to be selected to receive an award under
this Plan, or, having been so selected, to be selected to receive a future award. 
 (d) Successors. All obligations of the Company
under the Plan, with respect to awards granted hereunder, will be binding on any successor to the Company, whether the existence of such successor is the result of a direct or indirect purchase, merger, consolidation, or otherwise, of all or
substantially all of the business or assets of the Company. 
 (e) Nontransferability of Awards. No award granted under the Plan may
be sold, transferred, pledged, assigned, or otherwise alienated or hypothecated, other than by will, by the laws of descent and distribution, or to the limited extent provided in Section 6(e). All rights with respect to an award granted to a
Participant will be available during his or her lifetime only to the Participant. 
 7. Amendment, Termination, and Duration. 

(a) Amendment, Suspension, or Termination. The Board and/or the Committee, in its sole discretion, may amend or terminate the Plan, or
any part thereof, at any time and for any reason. The amendment, suspension or termination of the Plan will not, without the consent of the Participant, alter or impair any rights or obligations under any Actual Award theretofore earned by such
Participant. No award may be granted during any period of suspension or after termination of the Plan. 

  
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 (b) Duration of Plan. The Plan will commence on the date first adopted and/or ratified by
the Board or the Compensation Committee of the Board, and subject to Section 7(a) (regarding the Committee’s right to amend or terminate the Plan), will remain in effect thereafter. 

8. Legal Construction. 

(a) Gender and Number. Except where otherwise indicated by the context, any masculine term used herein also will include the feminine;
the plural will include the singular and the singular will include the plural. 
 (b) Severability. In the event any provision of the
Plan will be held illegal or invalid for any reason, the illegality or invalidity will not affect the remaining parts of the Plan, and the Plan will be construed and enforced as if the illegal or invalid provision had not been included. 

(c) Requirements of Law. The granting of awards under the Plan will be subject to all applicable laws, rules and regulations, and to
such approvals by any governmental agencies or national securities exchanges as may be required. 
 (d) Governing Law. The Plan and
all awards will be construed in accordance with and governed by the laws of the State of California, but without regard to its conflict of law provisions. 

(e) Bonus Plan. The Plan is intended to be a “bonus program” as defined under U.S. Department of Labor regulation 2510.3-2(c) and will be construed and administered in accordance with such intention. 
 (f)
Captions. Captions are provided herein for convenience only, and will not serve as a basis for interpretation or construction of the Plan. 

  
 -6-EX-10.13

 Exhibit 10.13 

THIS WARRANT AND THE SHARES ISSUABLE HEREUNDER HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “ACT”), OR THE SECURITIES
LAWS OF ANY STATE AND, EXCEPT AND PURSUANT TO THE PROVISIONS OF ARTICLE 5 BELOW, MAY NOT BE OFFERED, SOLD OR OTHERWISE TRANSFERRED, PLEDGED OR HYPOTHECATED UNLESS AND UNTIL REGISTERED UNDER SAID ACT AND APPLICABLE STATE SECURITIES LAW OR, IN THE
OPINION OF LEGAL COUNSEL IN FORM AND SUBSTANCE SATISFACTORY TO THE ISSUER OF THESE SECURITIES, SUCH OFFER, SALE OR TRANSFER, PLEDGE OR HYPOTHECATION IS EXEMPT FROM REGISTRATION. 

WARRANT TO PURCHASE STOCK 
  

			
	Company:		MINDBODY, INC., a California corporation
	Number of Shares:		35,000
	Class of Stock:		Series C Preferred
	Warrant Price:		$3.483 per share (Subject to Section 1.7)
	Issue Date:		June 23, 2010
	Expiration Date:		The 10th anniversary after the Issue Date
	Credit Facility:		This Warrant is issued in connection with the Advances and the Term Loan referenced in the Loan and Security Agreement between Company and Silicon Valley Bank dated June 23, 2010.

 THIS WARRANT CERTIFIES THAT, for good and valuable consideration, SILICON VALLEY BANK (Silicon Valley Bank,
together with any registered holder from time to time of this Warrant or any holder of the shares issuable or issued upon exercise of this Warrant, “Holder”) is entitled to purchase the, number of fully paid and nonassessable shares of the
class of securities (the “Shares”) of the Company at the Warrant Price, all as set forth above and as adjusted pursuant to Article 2 of this Warrant, subject to the provisions and upon the terms and conditions set forth in this Warrant.

 ARTICLE 1. EXERCISE. 
 1.1 Method
of Exercise. Holder may exercise this Warrant by delivering a duly executed Notice of Exercise in substantially the form attached as Appendix 1 to the principal office of the Company. Unless Holder is exercising the conversion right set forth in
Article 1.2, Holder shall also deliver to the Company a check, wire transfer (to an account designated by the Company), or other form of payment acceptable to the Company for the aggregate Warrant Price for the Shares being purchased. 

1.2 Conversion Right. In lieu of exercising this Warrant as specified in Article 1.1, Holder may from time to time convert this
Warrant, in whole or in part, into a number of Shares determined by dividing (a) the aggregate fair market value of the Shares or other securities otherwise issuable upon exercise of this Warrant minus the aggregate Warrant Price of such Shares
by (b) the fair market value of one Share. The fair market value of the Shares shall be determined pursuant to Article 1.3. 
 1.3
Fair Market Value. If the Company’s common stock is traded in a public market and the Shares are common stock, the fair ,market value of each Share shall be the closing price of a Share reported for the business day immediately before
Holder delivers its Notice of Exercise to the Company (or in the instance where the Warrant is exercised immediately prior to the 

 
effectiveness of the Company’s initial public offering, the “price to public” per share price specified in the final prospectus relating to such offering). If the Company’s
common stock is traded in a public market and the Shares are preferred stock, the fair market value of a Share shall be the closing price of a share of the Company’s common stock reported for the business day immediately before Holder delivers
its Notice of Exercise to the Company (or, in the instance where the Warrant is exercised immediately prior to the effectiveness of the Company’s initial public offering, the initial “price to public” per share price specified in the
final prospectus relating to such offering), in both cases, multiplied by the number of shares of the Company’s common stock into which a Share is convertible. If the Company’s common stock is not traded in a public market, the Board of
Directors of the Company shall determine fair market value in its reasonable good faith judgment. 
 1.4 Delivery of Certificate and New
Warrant. Promptly after Holder exercises or converts this Warrant and, if applicable, the Company receives payment of the aggregate Warrant Price, the Company shall deliver to Holder certificates for the Shares acquired and, if this Warrant has
not been fully exercised or converted and has not expired, a new Warrant representing the Shares not so acquired. 
 1.5 Replacement of
Warrants. On receipt of evidence reasonably satisfactory to the Company of the loss, theft, destruction or mutilation of this Warrant and, in the case of loss, theft or destruction, on delivery of an indemnity agreement reasonably satisfactory
in form and amount to the Company or, in the case of mutilation on surrender and cancellation of this Warrant, the Company shall execute and deliver, in lieu of this Warrant, a new warrant of like tenor. 

1.6 Treatment of Warrant Upon Acquisition of Company. 

1.6.1 “Acquisition”. For the purpose of this Warrant, “Acquisition” means any sale, license, or other disposition
of all or substantially all of the assets of the Company, or any reorganization, consolidation, or merger of the Company where the holders of Company’s securities before the transaction beneficially own less than 50% of the outstanding voting
securities of the surviving entity after the transaction. 
 1.6.2 Treatment of Warrant at Acquisition. 

A) Upon the written request of the Company, Holder agrees that, in the event of an Acquisition that is not an asset sale and in which the sole consideration
is cash, either (a) Holder shall exercise its conversion or purchase right under this Warrant and such exercise will be deemed automatically effective immediately prior to the consummation of any such Acquisition and Holder shall participate in
the Acquisition as a holder of the Shares (or securities issuable upon exercise of this Warrant) on the same terms as other holders of the same class and series of securities of the Company, or (ii) if Holder elects not to exercise this
Warrant, this Warrant will expire immediately prior to the consummation of any such Acquisition. The Company shall provide the Holder with written notice of its request relating to the foregoing (together with such reasonable information as the
Holder may request in connection with such contemplated Acquisition giving rise to such notice), which is to be delivered to Holder not less than ten (10) days prior to the closing of the proposed Acquisition. 

B) Upon the written request of the Company, Holder agrees that, in the event of an Acquisition that is an “arms length” sale of all or substantially
all of the Company’s assets (and only its assets) to a third party that is not an Affiliate (as defined below) of the Company (a “True Asset Sale”), either (a) Holder shall exercise its conversion or purchase right under this
Warrant and such exercise will be deemed effective immediately prior to the consummation of such Acquisition or (b)

  
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if Holder elects not to exercise the Warrant, this Warrant will continue until the Expiration Date if the Company continues as a going concern following the closing of any such True Asset Sale.
The Company shall provide Holder with written notice of its request relating to the foregoing (together with such reasonable information as Holder may request in connection with such contemplated Acquisition giving rise to such notice), which is to
be delivered to Holder not less than ten (10) days prior to the closing of the proposed Acquisition. 
 C) Holder agrees that, in the event of an
Acquisition of the Company by a publicly traded acquirer in which the sole consideration is publicly traded stock or a combination of publicly traded stock and cash, if the acquirer in the Acquisition does not agree to assume this Warrant at and as
of the closing thereof, and if, on the record date for the Acquisition, the fair market value of each of the Shares (or other securities issuable upon exercise of this Warrant) is equal to or greater than five (5) times the Warrant Price, the
Company may require the Warrant to be deemed automatically exercised and the Holder shall participate in the Acquisition as a holder of the Shares (or other securities issuable upon exercise of the Warrant) on the same terms as other holders of the
same class of securities of the Company. 
 D) Upon the closing of any Acquisition other than those particularly described in subsections (A), (B) and
(C) above, the successor entity shall assume the obligations of this Warrant, and this Warrant shall be exercisable for the same securities, cash, and property as would be payable for the Shares issuable upon exercise of the unexercised portion
of this Warrant as if such Shares were outstanding on the record date for the Acquisition and subsequent closing. The Warrant Price and/or number of Shares shall be adjusted accordingly. 

As used herein “Affiliate” shall mean any person or entity that owns or controls directly or indirectly ten (10) percent or more of the
stock of Company, any person or entity that controls or is controlled by or is under common control with such persons or entities, and each of such person’s or entity’s officers, directors, joint venturers or partners, as applicable. 

1.7 Adjustment in Warrant Price. If on or before December 31, 2011, the Company sells and issues to any investors preferred stock
at a per share price less or greater than the Warrant Price, the Warrant Price hereunder shall be adjusted to equal an average of the original Warrant Price and the per share purchase price of such stock. 

ARTICLE 2. ADJUSTMENTS TO THE SHARES. 

2.1 Stock Dividends, Splits, Etc. If the Company declares or pays a dividend on the Shares payable in common stock, or other
securities, then upon exercise of this Warrant, for each Share acquired, Holder shall receive, without cost to Holder, the total number and kind of securities to which Holder would have been entitled had Holder owned the Shares of record as of the
date the dividend occurred. If the Company subdivides the Shares by reclassification or otherwise into a greater number of shares or takes any other action which increase the amount of stock into which the Shares are convertible, the number of
shares purchasable hereunder shall be proportionately increased and the Warrant Price shall be proportionately decreased. If the outstanding shares are combined or consolidated, by reclassification or otherwise, into a lesser number of shares, the
Warrant Price shall be proportionately increased and the number of Shares shall be proportionately decreased. 
 2.2 Reclassification,
Exchange, Combinations or Substitution. Upon any reclassification, exchange, substitution, or other event that results in a change of the number and/or 

  
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class of the securities issuable upon exercise or conversion of this Warrant, Holder shall be entitled to receive, upon exercise or conversion of this Warrant, the number and kind of securities
and property that Holder would have received for the Shares if this Warrant had been exercised immediately before such reclassification, exchange, substitution, or other event. Such an event shall include any automatic conversion of the then
outstanding or issuable securities of the Company of the same class or series as the Shares to common stock pursuant to the terms of the Company’s Articles or Certificate (as applicable) of Incorporation. The Company or its successor shall
promptly issue to Holder an amendment to this Warrant setting forth the number and kind of such new securities or other property issuable upon exercise or conversion of this Warrant as a result of such reclassification, exchange, substitution or
other event that results in a change of the number and/or class of securities issuable upon exercise or conversion of this Warrant. The amendment to this Warrant shall provide for adjustments which shall be as nearly equivalent as may be practicable
to the adjustments provided for in this Article 2 including, without limitation, adjustments to the Warrant Price and to the number of securities or property issuable upon exercise of the new Warrant. The provisions of this Article 2.2 shall
similarly apply to successive reclassifications, exchanges, substitutions, or other events. 
 2.3 Adjustments for Diluting
Issuances. The Warrant Price and the number of Shares issuable upon exercise of this Warrant or, if the Shares are preferred stock, the number of shares of common stock issuable upon conversion of the Shares, shall be subject to adjustment, from
time to time in the manner set forth in the Company’s Articles or Certificate of Incorporation as if the Shares were issued and outstanding on and as of the date of any such required adjustment. The provisions set forth for the Shares in the
Company’s Articles or Certificate (as applicable) of Incorporation relating to the above in effect as of the Issue Date may not be amended, modified or waived, without the prior written consent of Holder unless such amendment, modification or
waiver affects the rights associated with the Shares in the same manner as such amendment, modification or waiver affects the rights associated with all other shares of the same series and class as the Shares granted to Holder. 

2.4 No impairment. The Company shall not, by amendment of its Articles or Certificate (as applicable) of Incorporation or through a
reorganization, transfer of assets, consolidation, merger, dissolution, issue, or sale of securities or any other voluntary action, avoid or seek to avoid the observance or performance of any of the terms to be observed or performed under this
Warrant by the Company, but shall at all times in good faith assist in carrying out of all the provisions of this Article 2 and in taking all such action as may be necessary or appropriate to protect Holder’s rights under this Article against
impairment. 
 2.5 Fractional Shares. No fractional Shares shall be issuable upon exercise or conversion of this Warrant and the
number of Shares to be issued shall be rounded down to the nearest whole Share. If a fractional share interest arises upon any exercise or conversion of the Warrant, the Company shall eliminate such fractional share interest by paying Holder the
amount computed by multiplying the fractional interest by the fair market value of a full Share. 
 2.6 Certificate as to
Adjustments. Upon each adjustment of the Warrant Price, the Company shall promptly notify Holder in writing, and, at the Company’s expense, promptly compute such adjustment, and furnish Holder with a certificate of its Chief Financial
Officer setting forth such adjustment and the facts upon which such adjustment is based. The Company shall, upon written request, furnish Holder a certificate setting forth the Warrant Price in effect upon the date thereof and the series of
adjustments leading to such Warrant Price. 

  
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 ARTICLE 3. REPRESENTATIONS AND COVENANTS OF THE COMPANY. 

3.1 Representations and Warranties. The Company represents and warrants to Holder as follows: 

(a) The initial Warrant Price referenced on the first page of this Warrant is not greater than the price per share at which the Shares were
last issued in an arms-length transaction in which at least $500,000 of the Shares were sold. 
 (b) All Shares which may be issued upon
the exercise of the purchase right represented by this Warrant, and all securities, if any, issuable upon conversion of the Shares, shall, upon issuance, be duly authorized, validly issued, fully paid and nonassessable, and free of any liens and
encumbrances except for restrictions on transfer provided for herein or under applicable federal and state securities laws. 
 (c) The
Company’s capitalization table attached hereto as Schedule 1 is true and complete as of the Issue Date. 
 3.2 Notice of
Certain Events. If the Company proposes at any time (a) to declare any dividend or distribution upon any of its stock, whether in cash, property, stock, or other securities and whether or not a regular cash dividend; (b) to offer for
sale any shares of the Company’s capital stock (or other securities convertible into such capital stock) pro rata to the Company’s current stockholders; (c) to effect any reclassification or recapitalization of any of its stock;
(d) to merge or consolidate with or into any other corporation, or sell, lease, license, or convey all or substantially all of its assets, or to liquidate, dissolve or wind up; or (e) offer holders of registration rights the opportunity to
participate in an underwritten public offering of the Company’s securities for cash, then, in connection with each such event, the Company shall give Holder: (1) at least 10 days prior written notice of the date on which a record will be
taken for such dividend, distribution, or subscription rights (and specifying the date on which Holders of common stock will be entitled thereto) or for determining rights to vote, if any, in respect of the matters referred to in (a) and
(b) above; (2) in the case of the matters referred to in (c) and (d) above at least 10 days prior written notice of the date when the same will take place (and specifying the date on which Holders of common stock will be entitled
to exchange their common stock for securities or other property deliverable upon the occurrence of such event); and (3) in the case of the matter referred to in (e) above, the same notice as is given to Holders of such registration rights.
Company will also provide information requested by Holder reasonably necessary to enable Holder to comply with Holder’s accounting or reporting requirements, including, a report of all equity securities sold by Borrower on a quarterly basis.

 3.3 Registration Under Securities Act of 1933, as amended. The Company agrees that the Shares or, if the Shares are convertible
into common stock of the Company, such common stock, shall have certain “piggyback,” registration rights pursuant to and as set forth in the Company’s Investor Rights Agreement or similar agreement. The provisions set forth in the
Company’s Investors’ Right Agreement or similar agreement relating to the above in effect as of the Issue Date may not be amended, modified or waived without the prior written consent of Holder unless such amendment, modification or waiver
affects the rights associated with the Shares in the same manner as such amendment, modification, or waiver affects the rights associated with all other shares of the same series and class as the Shares granted to Holder. 

3.4 No Shareholder Rights. Except as provided in this Warrant, Holder will not have any rights as a shareholder of the Company until
the exercise of this Warrant. 

  
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 ARTICLE 4. REPRESENTATIONS, WARRANTIES OF HOLDER. Holder represents and warrants to the Company as
follows: 
 4.1 Purchase for Own Account. This Warrant and the securities to be acquired upon exercise of this Warrant by Holder will
be acquired for investment for Holder’s account, not as a nominee or agent, and not with a view to the public resale or distribution within the meaning of the Act. Holder also represents that Holder has not been formed for the specific purpose
of acquiring this Warrant or the Shares. 
 4.2 Disclosure of Information. Holder has received or has had full access to all the
information it considers necessary or appropriate to make an informed investment decision with respect to the acquisition of this Warrant and its underlying securities. Holder further has had an opportunity to ask questions and receive answers from
the Company regarding the terms and conditions of the offering of this Warrant and its underlying securities and to obtain additional information (to the extent the Company possessed such information or could acquire it without unreasonable effort
or expense) necessary to verify any information furnished to Holder or to which Holder has access. 
 4.3 Investment Experience.
Holder understands that the purchase of this Warrant and its underlying securities involves substantial risk. Holder has experience as an investor in securities of companies in the development stage and acknowledges that Holder can bear the economic
risk of such Holder’s investment in this Warrant and its underlying securities and has such knowledge and experience in financial or business matters that Holder is capable of evaluating the merits and risks of its investment in this Warrant
and its underlying securities and/or has a preexisting personal or business relationship with the Company and certain of its officers, directors or controlling persons of a nature and duration that enables Holder to be aware of the character,
business acumen and financial circumstances of such persons. 
 4.4 Accredited Investor Status. Holder is an “accredited
investor” within the meaning of Regulation D promulgated under the Act. 
 4.5 The Act. Holder understands that this Warrant and
the Shares issuable upon exercise or conversion hereof have not been registered under the Act in reliance upon a specific exemption therefrom, which exemption depends upon, among other things, the bona fide nature of Holder’s investment intent
as expressed herein. Holder understands that this Warrant and the Shares issued upon any exercise or conversion hereof must be held indefinitely unless subsequently registered under the Act and qualified under applicable state securities laws, or
unless exemption from such registration and qualification are otherwise available. 
 4.6 Lock-Up Agreement. The Holder and any
subsequent Holder agrees to be bound by the provisions of Section 1.14 of the Rights Agreement as though such Holder were a “Holder” thereunder. 

ARTICLE 5. MISCELLANEOUS. 
 5.1 This
warrant is exercisable in whole or in part at any time and from time to time on or before the Expiration Date. 

  
 -6- 

 5.2 Legends. This Warrant and the Shares (and the securities issuable, directly or
indirectly, upon conversion of the Shares, if any) shall be imprinted with a legend in substantially the following form: 
 THIS WARRANT AND
THE SHARES ISSUABLE HEREUNDER HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “ACT”), OR THE SECURITIES LAWS OF ANY STATE, AND, EXCEPT AND PURSUANT TO THE PROVISIONS OF ARTICLE 5 BELOW, MAY NOT BE OFFERED, SOLD
OR OTHERWISE TRANSFERRED, PLEDGED OR HYPOTHECATED UNLESS AND UNTIL REGISTERED UNDER SAID ACT AND APPLICABLE STATE SECURITIES LAW OR, IN THE OPINION OF LEGAL COUNSEL IN FORM AND SUBSTANCE SATISFACTORY TO THE ISSUER OF THESE SECURITIES, SUCH OFFER,
SALE OR TRANSFER, PLEDGE OR HYPOTHECATION IS EXEMPT FROM REGISTRATION. 
 5.3 Compliance with Securities Laws on Transfer. This
Warrant and the Shares issuable upon exercise of this Warrant (and the securities, issuable, directly or indirectly, upon conversion of the Shares, if any) may not be transferred or assigned in whole or in part without compliance with applicable
federal and state securities laws by the transferor and the transferee (including, without limitation, the delivery of investment representation letters and legal opinions reasonably satisfactory to the Company, as reasonably requested by the
Company). The Company shall not require Silicon Valley Bank (“Bank”) to provide an opinion of counsel if the transfer is to Bank’s parent company, SVB Financial Group (formerly Silicon Valley Bancshares), or any other affiliate of
Bank. Additionally, the Company shall also not require an opinion of counsel if there is no material question as to the availability of current information as referenced in Rule 144(c), Holder represents that it has complied with Rule 144(d) and
(e) in reasonable detail, the selling broker represents that it has complied with Rule 144(f), and the Company is provided with a copy of Holder’s notice of proposed sale. 

5.4 Transfer Procedure. After receipt by Bank of the executed Warrant, Bank will transfer all of this Warrant to SVB Financial Group by
execution of an Assignment substantially in the form of Appendix 2. Subject to the provisions of Article 5.3 and upon providing the Company with written notice, SVB Financial Group and any subsequent Holder may transfer or part of this Warrant or
the Shares issuable upon exercise of this Warrant (or the Shares issuable directly or indirectly, upon conversion of the Shares, if any) to any transferee, provided, however, in connection with any such transfer, SVB Financial Group or any
subsequent Holder will give the Company notice of the portion of the Warrant being transferred with the name, address and taxpayer, identification number of the transferee and Holder will surrender this Warrant to the Company for reissuance to the
transferee(s) (and Holder if applicable), and such subsequent Holder agrees to be bound by the provisions of this Warrant (including this Section 5) and the provisions of Section 1.14 of the Rights Agreement. The Company may refuse to
transfer this Warrant or the Shares to any person who directly competes with the Company, unless, in either case, the stock of the Company is publicly traded. 

5.5 Notices. All notices and other communications from the Company to Holder, or vice versa, shall be deemed delivered and effective
when given personally or mailed by first-class registered or certified mail, postage prepaid, at such address as may have been furnished to the Company or Holder, as the case may (or on the first business day after transmission by facsimile) be, in
writing by the Company or such Holder from time to time. Effective upon receipt of 

  
 -7- 

 
the fully executed Warrant and the initial transfer described in Article 5.4 above, all notices to Holder shall be addressed as follows until the Company receives notice of a change of address in
connection with a transfer or otherwise: 
 SVB Financial Group 

Attn: Treasury Department 
 3003
Tasman Drive, HA 200 
 Santa Clara, CA 95054 

Telephone: 
 Facsimile: 

Notice to the Company shall be addressed as follows until Holder receives notice of a change in address: 

MINDBODY, INC. 
 Attn: Chief
Executive Officer 
 4051 Broad Street, Suite #220 

San Luis Obispo, CA 93401 

Telephone: 
 Facsimile: 

5.6 Waiver. This Warrant and any term hereof may be changed, waived, discharged or terminated only by an instrument in writing signed
by the party against which enforcement of such change, waiver, discharge or termination is sought. 
 5.7 Attorneys’ Fees. In
the event of any dispute between the parties concerning the terms and provisions of this Warrant, the party prevailing in such dispute shall be entitled to collect from the other party all costs incurred in such dispute, including reasonable
attorneys’ fees. 
 5.8 Automatic Conversion upon Expiration. In the event that, upon the Expiration Date, the fair market value
of one Share (or other security issuable upon the exercise hereof) as determined in accordance with Section 1.3 above is greater than the Warrant Price in effect on such date, then this Warrant shall automatically be deemed on and as of such
date to be converted pursuant to Section 1.2 above as to all Shares (or such other securities) for which it shall not previously have been exercised or converted, and the Company shall promptly deliver a certificate representing the Shares (or
such other securities) issued upon such conversion to Holder. 
 5.9 Counterparts. This Warrant may be executed in counterparts, all
of which together shall constitute one and the same agreement. 
 5.10 Governing Law. This Warrant shall be governed by and construed
in accordance with the laws of the State of California, without giving effect to its principles regarding conflicts of law. 
 [Signature
page follows] 

  
 -8- 

									
	“COMPANY”				Date:		 6-22-10

				
	MINDBODY, INC.						
					
	By:		 /s/ Richard Stollmeyer
				By:		 /s/ Robert Murphy

					
	Name:		 Richard Stollmeyer
				Name:		 Robert Murphy

					
	Title:		Chairman of the Board, President or Vice President				Title:		Chief Financial Officer, Secretary, Assistant Treasurer or Assistant Secretary
				
	“HOLDER”						
				
	SILICON VALLEY BANK						
					
	By:		 /s/ Jack Garza
						
					
	Name:		 Jack Garza
						
			(Print)						
					
	Title:		 Relationship Manager
						

  
 -9- 

 SCHEDULE 1 

CAPITALIZATION TABLE 

(See attached.) 

 APPENDIX 1 

NOTICE OF EXERCISE 

1. Holder elects to purchase                  shares of the
Common/Series C Preferred Stock of MINDBODY, INC. pursuant to the terms of the attached Warrant, and tenders payment of the purchase price of the shares in full. 

[or] 
 1. Holder elects to
convert the attached Warrant into Shares/cash [strike one] in the manner specified in the Warrant. This conversion is exercised for                  of the Shares
covered by the Warrant, 
 [Strike paragraph that does not apply.] 

2. Please issue a certificate or certificates representing the shares in the name specified below: 

 

	
	  

	Holder’s Name
	
	  

	
	  

	(Address)

 3. By its execution below and for the benefit of the Company, Holder hereby restates each of the
representations and warranties in Article 4 of the Warrant as the date hereof. 
  

			
	HOLDER:
	
	  

		
	By:		  

		
	Name:		  

		
	Title:		  

		
	(Date:)		  

 APPENDIX 2 

ASSIGNMENT 
 For
value received, Silicon Valley Bank hereby sells, assigns and transfers unto 
  

					
	Name:				SVB Financial Group
	Address:				3003 Tasman Drive (HA-200)
					Santa Clara, CA 95054
			
	Tax ID:				

 that certain Warrant to Purchase Stock issued by MINDBODY, INC. (the “Company”), on
June     , 2010 (the ‘Warrant”) together with all rights, title and interest therein. 
  

			
	SILICON VALLEY BANK
		
	By:		  

		
	Name:		  

		
	Title:		  

 

			
	Date:		  

 By its execution below, and for the benefit of the Company, SVB Financial Group makes each of the representations and
warranties set forth in Article 4 of the Warrant and agrees to all other provisions of the Warrant as of the date hereof. 
  

			
	SVB FINANCIAL GROUP
		
	By:		  

		
	Name:		  

		
	Title:		  

 AMENDMENT 

TO 
 WARRANT TO PURCHASE
STOCK 
 This Amendment to Warrant to Purchase Stock (this “Amendment”) is entered into as of March 6, 2015, by
and between SVB FINANCIAL GROUP (“Holder”), Mindbody, Inc., a California corporation (the “Company”) and MINDBODY, Inc., a Delaware corporation (the “Delaware Company”). 

RECITALS 
 WHEREAS,
The Company has issued for the benefit of Silicon Valley Bank (“Bank”) that certain Warrant to Purchase Stock dated June 23, 2010 (as amended from time to time, the “Warrant”). 

WHEREAS, Bank has assigned the Warrant to Holder. 

WHEREAS, Section 1.7 of the Warrant provides that, if on or before December 31, 2011, the Company sells and issues to any
investors preferred stock at a per share price less or greater than the Warrant Price (as defined in the Warrant), the Warrant Price thereunder shall be adjusted to equal an average of the original Warrant Price and the per share purchase price of
such stock. 
 WHEREAS, pursuant to Section 1.7 of the Warrant, the Warrant Price was adjusted to $4.3315 as a result of
the Company’s issuance of its Series D Preferred Stock on or before December 31, 2011. 
 WHEREAS, in connection
with the proposed reincorporation of the Company into Delaware (the “Reincorporation”), all securities of the Company are to be exchanged for an equivalent number of securities of the Delaware Company. 

WHEREAS, in connection with the Reincorporation, the Company and Holder wish to amend the Warrant to acknowledge that, effective upon
the Reincorporation, the Warrant will become issuable for shares of Series C Preferred Stock of the Delaware Company, and to make certain other clarifying changes. 

NOW THEREFORE, the parties hereby agree as follows: 

AGREEMENT 
 1.
Amendment to Recitals. Effective upon the consummation of the Reincorporation, the information immediately following the heading “WARRANT TO PURCHASE STOCK” shall be amended and restated in their entirety as follows: 

 

			
	“Company:		MINDBODY, Inc., a Delaware corporation
	Number of Shares:        		35,000
	Class of Stock:		Series C Preferred
	Warrant Price:		$4.3315 per share

			
	Issue Date:		June 23, 2010
	Expiration Date:		The 10th anniversary after the Issue Date
	Credit Facility:		This Warrant is issued in connection with the Advances and the Term Loan referenced in the Loan and Security Agreement between Company and Silicon Valley Bank dated June 23, 2010.”

 2. Amendment to Section 4.6. Section 4.6 of the Warrant shall be amended and restated in its
entirety as follows: 
 “4.6 Lock-Up Agreement. The Holder and any subsequent Holder agrees to be bound by the provisions of
Section 5 of the Amended and Restated Right of First Refusal and Co-Sale Agreement between the Company and the parties named therein, dated as of February 10, 2014, as amended (the “ROFR Agreement”).” 

3. Amendment to Section 5.4. The reference to “Section 1.14 of the Rights Agreement” in Section 5.4 shall be
replaced with a reference to “Section 5 of the ROFR Agreement.” 
 4. Consent to Reincorporation. Holder acknowledges that,
other than as set forth herein, no adjustments to the provisions of the Warrant shall be made as a result of the Reincorporation. Holder hereby consents to the Reincorporation and waives any notice requirements with respect thereto. 

5. Assumption. The Delaware Company hereby assumes all obligations of the Company under the Warrant, as amended. 

6. Effect of Amendment. Except as set forth in this Amendment, the provisions of the Warrant shall remain unchanged and shall continue
in full force and effect. 
 7. Counterparts. This Amendment may be executed in one or more counterparts, each of which shall be
deemed an original, but all of which together shall constitute one and the same instrument. 
 [Signature Pages Follow] 

  
 -2- 

 IN WITNESS WHEREOF, the parties have executed this Amendment as of the date set forth
above. 
  

	
	COMPANY:
	
	 MINDBODY, INC.
 a California
corporation

	
	 /s/ Brett White

	Brett White
	Chief Financial Officer
	
	DELAWARE COMPANY:
	
	 MINDBODY, INC.
 a Delaware
corporation

	
	 /s/ Brett White

	Brett White
	Chief Financial Officer
	
	HOLDER:
	
	SVB FINANCIAL GROUP
	
	 /s/ Michael D. Kruse

	Name: Michael D. Kruse
	Treasurer

 (Signature page to Amendment to Warrant to Purchase Stock)

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