Document:

Amendment No. 2 to Loan and Security Agreement

 Exhibit 10.1 
  
 AMENDMENT NO. 2 
 TO 
 LOAN AND SECURITY AGREEMENT 
  
 THIS AMENDMENT NO. 2 TO LOAN
AND SECURITY AGREEMENT (this “Amendment”) is entered into this 22nd day of April, 2005, by and between TIVO
INC., a Delaware corporation (“Borrower”), and SILICON VALLEY BANK (“Bank”). Capitalized terms used herein without
definition shall have the same meanings given them in the Loan Agreement (as defined below). 
  
 RECITALS 
  
 A. Borrower and Bank have entered into that certain Loan and Security Agreement dated as of July 17, 2003, and amended pursuant to that Amendment No. 1 to Loan and Security Agreement dated June 29, 2004 (as so amended, the
“Loan Agreement”), pursuant to which Bank agreed to extend and make available to Borrower certain advances of money. 
  
 B. Subject to the representations and warranties of Borrower herein and upon the terms and conditions set forth in this Amendment, Bank is willing
to amend the Loan Agreement as set forth below. 
  
 AGREEMENT 
  
 NOW, THEREFORE, in
consideration of the foregoing Recitals and intending to be legally bound, the parties hereto agree as follows: 
  
 1. AMENDMENTS TO LOAN AGREEMENT. 
  
 1.1 Section 6.6(b) (Financial Covenants). Section 6.6(b) of
the Loan Agreement is amended and restated in its entirety as follows: 
  
 “(b) for each period listed below, a Tangible Net Worth equal to or greater than the amount set forth opposite such time period: 
  

					
	 Period

	  	Tangible Net Worth

	 
	 3-month period ending 4/30/05
	  	$	(25,000,000	)
	 3-month period ending 7/31/05
	  	$	(40,000,000	)
	 3-month period ending 10/31/05
	  	$	(60,000,000	)
	 3-month period ending 1/31/06
	  	$	(70,000,000	)

  
 The Tangible Net Worth
for the period beginning February 1, 2006, and thereafter shall be determined by Bank in its reasonable discretion upon its receipt and review of Borrower’s financial projections for fiscal year 2006 and after discussions with Borrower
regarding the same.” 

 1.2 Section 13 (Definitions). Bank and Borrower acknowledge and agree to the following:

  
 (a) Sections 13.6 (previously “Borrowing
Base”), 13.7 (previously “Borrowing Base Certificate”), 13.24 (previously “Eligible Domestic Accounts”), 13.25 (previously “Eligible Foreign Accounts”) and 13.59 (previously
“Related Party Accounts”) each read “Intentionally Left Blank”. 
  
 (b) The definition for “Existing Merchant Services Facility” is numbered as Section 13.27A. 
  
 (c) The definition for “Tangible Net Worth” is numbered as Section 13.65A.

  
 (d) Section 13.58 of the Loan Agreement is amended and
restated in its entirety as follows: “Quick Assets” is, on any date, the Borrower’s cash, Cash Equivalents and short and long term marketable securities at Bank and Smith Barney plus net accounts receivable.

  
 1.3 Exhibit D (Compliance Certificate) to the
Loan Agreement is amended by deleting it in its entirety and replacing it with Exhibit A attached hereto. 
  
 2. BORROWER’S REPRESENTATIONS AND WARRANTIES.
Borrower represents and warrants that: 
  
 (a)
immediately upon giving effect to this Amendment (i) the representations and warranties contained in the Loan Documents are true, accurate and complete in all material respects as of the date hereof (except to the extent such representations and
warranties relate to an earlier date, in which case they are true and correct as of such date, and except to the extent any such representations and warranties are altered by information disclosed in Borrower’s reports filed with the US
Securities and Exchange Commission subsequent to the Closing Date), and (ii) no Event of Default has occurred and is continuing; 
  
 (b) Borrower has the corporate power and authority to execute and deliver this Amendment and to perform its obligations under the Loan Agreement,
as amended by this Amendment; 
  
 (c) the certificate of
incorporation, bylaws and other organizational documents of Borrower delivered to Bank on the Closing Date remain true, accurate and complete and have not been amended, supplemented or restated and are and continue to be in full force and effect;

  
 (d) the execution and delivery by Borrower of this
Amendment and the performance by Borrower of its obligations under the Loan Agreement, as amended by this Amendment, have been duly authorized by all necessary corporate action on the part of Borrower; and 
  

 2 

 (e) this Amendment has been duly executed and delivered by the Borrower and is the binding
obligation of Borrower, enforceable against it in accordance with its terms, except as such enforceability may be limited by bankruptcy, insolvency, reorganization, liquidation, moratorium or other similar laws of general application and equitable
principles relating to or affecting creditors’ rights. 
  
 3. LIMITATION. The amendments set forth in this Amendment shall be limited precisely as written and shall not be deemed (a) to be a waiver or modification of any other term or condition of the Loan
Agreement or of any other instrument or agreement referred to therein or to prejudice any right or remedy which Bank may now have or may have in the future under or in connection with the Loan Agreement or any instrument or agreement referred to
therein; or (b) to be a consent to any future amendment or modification or waiver to any instrument or agreement the execution and delivery of which is consented to hereby, or to any waiver of any of the provisions thereof. Except as expressly
amended hereby, the Loan Agreement shall continue in full force and effect. 
  
 4. EFFECTIVENESS. This Amendment shall become effective upon the satisfaction of all the following conditions precedent: 
  
 4.1 Amendment. Borrower and Bank shall have duly executed and
delivered this Amendment to Bank. 
  
 4.2 Payment of Bank
Expenses. Borrower shall have paid all Bank Expenses (including all reasonable attorneys’ fees and reasonable expenses) incurred through the date of this Amendment. 
  
 5. COUNTERPARTS. This Amendment may be signed in any number of counterparts, and by
different parties hereto in separate counterparts, with the same effect as if the signatures to each such counterpart were upon a single instrument. All counterparts shall be deemed an original of this Amendment. 
  
 6. INTEGRATION. This Amendment and any
documents executed in connection herewith or pursuant hereto contain the entire agreement between the parties with respect to the subject matter hereof and supersede all prior agreements, understandings, offers and negotiations, oral or written,
with respect thereto and no extrinsic evidence whatsoever may be introduced in any judicial or arbitration proceeding, if any, involving this Amendment; except that any financing statements or other agreements or instruments filed by Bank with
respect to Borrower shall remain in full force and effect. 
  
 7. GOVERNING LAW. THIS AMENDMENT SHALL BE GOVERNED BY AND SHALL BE CONSTRUED AND ENFORCED IN ACCORDANCE WITH THE LAWS OF THE STATE OF CALIFORNIA WITHOUT GIVING EFFECT TO PRINCIPLES OF CONFLICT OF LAW.

  

 3 

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

					
	 BORROWER:
	 	 TIVO INC.

	 	 	 a Delaware corporation

			
	 	 	 By:
	 	 /s/ Michael Ramsay

	 	 	 Printed Name:
	 	 Michael Ramsay

	 	 	 Title:
	 	 CEO & Chairman of the Board

		
	 BANK:
	 	 SILICON VALLEY BANK

			
	 	 	 By:
	 	 /s/ Nina Davies

	 	 	 Printed Name:
	 	 Nina Davies

	 	 	 Title:
	 	 Relationship ManagerFiscal Year 2006 Six and Twelve Month Bonus Plans for Executives

 Exhibit 10.2 
  
 Description of 
 TiVo Inc. Fiscal Year 2006 
 Six and Twelve Month Bonus Plans for Executives. 
  
 Purpose: 
  
 The terms of the TiVo Inc. Fiscal Year 2006 Six and Twelve Month Bonus Plans for Executives (each the “Six Month Plan” and
“Twelve Month Plan”, and together the “Plans”) have been established to reward the Company’s executives for assisting the Company in achieving its operational goals through exemplary performance. Under the Plans, cash
bonuses and restricted stock grants, if any, will be based on the achievement of specified corporate goals, as determined by the Compensation Committee and/or the Board. 
  
 Determination of Fiscal Year 2006 Bonuses: 
  

Target cash bonuses for executives (excluding the Company’s Chief Executive Officer whose target is 70%) under the Plans for fiscal year 2006 range from 30% to
50% of the recipient’s base salary. Each executive will also be eligible to receive a matching grant of restricted stock under the Twelve Month Plan whose fair market value on the date of grant will be equal to the executives target cash bonus
under the Plans. These restricted stock grants under the Twelve Month Plan will vest 100% after one year from the date of grant. The amount of actual bonuses will be based on the achievement of objective Company performance goals and may be higher
or lower than targeted amounts according to a pre-determined formula that will be applied by the Compensation Committee. The objective Company performance goals will be based on meeting certain goals with respect to the Company’s financial
performance, subscription growth, product innovation and distribution, and employee recruitment and retention, as well as other Company performance goals that may be determined by the Compensation Committee. Under the Six Month Plan, the
Company’s executives will be eligible to receive up to half of their full fiscal year 2006 bonuses at the mid-point of the Company’s fiscal year based upon the Compensation Committee’s assessment of the Company’s progress towards
achievement of its pre-determined performance goals for fiscal year 2006. The Chief Executive Officer’s participation in the Plans will be prorated based upon the period of time in which he continues to serve as CEO during fiscal year 2006. The
Board and the Compensation Committee reserve the right to modify these goals, amounts and criteria at any time.

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