Document:

EX-10.4

 Exhibit 10.4 

RETENTION AGREEMENT 

THIS AGREEMENT (the “Agreement”) is dated this 11th day of July, 2016 between AMERICAN SOFTWARE, INC., a Georgia
corporation (“Company”), and James R. McGuone (“Executive”). 
 WHEREAS, Company has determined that
it is appropriate to reinforce and encourage the continued attention and dedication of members of Company’s management, including Executive, to their assigned duties without distraction in potentially disruptive circumstances arising from the
possibility of a Change in Control (as hereinafter defined) of Company; and 
 WHEREAS, the severance benefits payable by Company to
Executive as provided herein are in part intended to ensure that Executive receives reasonable compensation given the specific circumstances of Executive’s employment history with Company; 

NOW, THEREFORE, in consideration of their respective obligations to one another set forth in this Agreement, and other good and
valuable consideration, the receipt, sufficiency and adequacy of which the parties hereby acknowledge, the parties to this Agreement, intending to be legally bound, hereby agree as follows: 

 

	 	1.	Term. This Agreement shall terminate, except to the extent that any obligation of Company hereunder remains unpaid as of such time, upon the earliest of (i) the Date of Termination (as hereinafter
defined) of Executive’s employment with Company as a result of Executive’s death, Disability (as defined in Section 3(b)) or Retirement (as defined in Section 3(c)), by Company for Cause (as defined in Section 3(d)) or by
Executive other than for Good Reason (as defined in Section 3(e)); and (ii) three (3) years from the date of a Change in Control if Executive’s employment with Company has not terminated as of such time. 

 

	 	2.	Change in Control. For purposes of this Agreement, “Change in Control” shall mean and be deemed to have occurred on the earliest to occur of a change in the ownership of Company, a change in the
effective control of Company, a change in ownership of a substantial portion of Company’s assets and a disposition of a substantial portion of Company’s assets, all as defined below: 

 

	 	a.	A change in the ownership of Company occurs on the date that any one person, or more than one person acting as a group, acquires ownership of stock of Company which, together with stock held by such person or group,
represents more than fifty percent (50%) of the total fair market value or total voting power of the stock of Company. An increase in the percentage of stock owned by any one person, or persons acting as a group, as a result of a transaction in
which Company acquires its stock in exchange for property will be treated as an acquisition of stock. 

  

	 	b.	 A change in the effective control of Company occurs on the date that either: any one person, or more than one
person acting as a group becomes the beneficial owner of stock of Company possessing more than fifty percent (50%) of the total voting power of the stock of Company; or a majority of members of Company’s board of directors is replaced

  
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during any 24-month period by directors whose appointment or election is not endorsed by at least two-thirds (2/3) of the members of Company’s board of directors who were directors
prior to the date of the appointment or election of the first of such new directors. 

  

	 	c.	A change in the ownership of a substantial portion of Company’s assets occurs on the date that any one person, or more than one person acting as a group, acquires (or has acquired during the 12-month period ending
on the date of the most recent acquisition by such person or persons) assets from Company that have a total fair market value equal to seventy-five percent (75%) or more of the total fair market value of all of the assets of Company immediately
prior to such acquisition or acquisitions. The transfer of assets by Company is not treated as a change in the ownership of such assets if the assets are transferred to an entity more than fifty percent (50%) of the total value or voting power
of which is owned, directly or indirectly, by Company. 

  

	 	d.	A disposition of a substantial portion of Company’s assets occurs on the date that Company transfers assets by sale, lease, exchange, distribution to shareholders, assignment to creditors, foreclosure or otherwise,
in a transaction or transactions not in the ordinary course of Company’s business (or has made such transfers during the 12-month period ending on the date of the most recent transfer of assets) that have a total fair market value equal to
seventy-five percent (75%) or more of the total fair market value of all of the assets of Company as of the date immediately prior to the first such transfer or transfers. The transfer of assets by Company is not treated as a disposition of a
substantial portion of Company’s assets if the assets are transferred to an entity, more than fifty percent (50%) of the total value or voting power of which is owned, directly or indirectly, by Company. 

 

	 	3.	Termination Following Change in Control. 

  

	 	a.	General. If Executive is still an employee of Company at the time of a Change in Control, Executive shall be entitled to the compensation and benefits provided in Section 4 upon the subsequent termination of
Executive’s employment with Company by Executive or by Company during the term of this Agreement, unless such termination is as a result of (i) Executive’s death; (ii) Executive’s Disability; (iii) Executive’s
Retirement; (iv) Executive’s termination by Company for Cause; or (v) Executive’s decision to terminate employment other than for Good Reason. 

 

	 	b.	Disability. The term “Disability” as used in this Agreement shall mean termination of Executive’s employment by Company as a result of Executive’s incapacity due to physical or mental illness,
provided that Executive shall have been absent from his duties with Company on a full-time basis for six consecutive months and such absence shall have continued unabated for 30 days after Notice of Termination as described in Section 3(f) is
thereafter given to Executive by Company.

  

	 	c.	Retirement. The term “Retirement” as used in this Agreement shall mean termination of Executive’s employment by Company based on Executive’s having attained a mandatory retirement age as shall
have been established pursuant to a written agreement between Company and Executive. 

  
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	 	d.	Cause. The term “Cause” for purposes of this Agreement shall mean Company’s termination of Executive’s employment on the basis of criminal or civil fraud on the part of Executive involving a
material amount of funds of Company or participation by Executive in any act of moral turpitude. Notwithstanding the foregoing, Executive shall not be deemed to have been terminated for Cause unless and until there shall have been delivered to
Executive a copy of a resolution duly adopted by the affirmative vote of not less than three-quarters of the entire membership of Company’s Board of Directors at a meeting of the Board called and held for such purpose (after reasonable notice
to Executive and an opportunity for Executive, together with Executive’s counsel, to be heard before the Board) finding that in the good faith opinion of the Board Executive was guilty of conduct set forth in the first sentence of this
Section 3(d) and specifying the particulars thereof in detail. 

  

	 	e.	Good Reason. For purposes of this Agreement, “Good Reason” shall mean any of the following actions taken by Company without Executive’s express written consent: 

 

	 	i.	The assignment to Executive by Company of duties inconsistent with, or a material adverse alteration of the powers and functions associated with, Executive’s position, duties, responsibilities and status with
Company prior to a Change in Control, or an adverse change in Executive’s titles or offices as in effect prior to a Change in Control, or any removal of Executive from or any failure to re-elect Executive to any of such positions, except in
connection with the termination of his employment for Disability, Retirement or Cause or as a result of Executive’s death or by Executive other than for Good Reason; 

 

	 	ii.	A reduction in Executive’s base salary as in effect on the date hereof or as the same may be increased from time to time during the term of this Agreement; 

 

	 	iii.	Any failure by Company to continue in effect any benefit plan, program or arrangement (including, without limitation, any profit sharing plan, group annuity contract, group life insurance supplement, or medical, dental,
accident and disability plans) in which Executive was eligible to participate at the time of a Change in Control (hereinafter referred to as “Benefit Plans”), or the taking of any action by Company which would adversely affect
Executive’s participation in or materially reduce Executive’s benefits under any such Benefit Plan, unless a comparable substitute Benefit Plan shall be made available to Executive, or deprive Executive of any fringe benefit enjoyed by
Executive at the time of a Change in Control;

  

	 	iv.	 Any failure by Company to continue in effect any incentive plan or arrangement (including, without limitation,
any bonus or contingent bonus arrangements and credits and the right to receive performance awards and similar incentive compensation benefits) in which Executive is participating at the time of a Change in Control (or any other plans or
arrangements providing him with substantially similar benefits) (hereinafter referred to as “Incentive Plans”) or the taking of any action by Company which would adversely affect Executive’s participation in any such Incentive Plan or
reduce Executive’s benefits under any such Incentive Plan, expressed as a percentage of his base salary, by more than 

  
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five percentage points in any fiscal year as compared to the immediately preceding fiscal year, or any action to reduce Executive’s bonuses under any Incentive Plan by more than five percent
(5%) in any fiscal year as compared to the immediately preceding fiscal year; 

  

	 	v.	Any failure by Company to continue in effect any plan or arrangement to receive securities of Company (including, without limitation, Company’s 2011 Equity Compensation Plan and any other plan or arrangement to
receive and exercise stock options, stock appreciation rights, restricted stock or grants thereof) in which Executive is participating or has the right to participate in prior to a Change in Control (or plans or arrangements providing him with
substantially similar benefits) (hereinafter referred to as “Securities Plans”) or the taking of any action by Company which would adversely affect Executive’s participation in or materially reduce Executive’s benefits under any
such Securities Plan, unless a comparable substitute Securities Plan shall be made available to Executive; 

  

	 	vi.	A relocation of Company’s principal executive offices to a location more than fifteen (15) miles from its location immediately prior to a Change in Control, or Executive’s relocation to any place other
than Company’s principal executive offices, except for required travel by Executive on Company’s business to an extent substantially consistent with Executive’s business travel obligations immediately prior to a Change in Control;

  

	 	vii.	Required work and or travel schedule that is not substantially consistent with Executive’s work and/or business travel schedule immediately prior to a Change in Control: 

 

	 	viii.	Any failure by Company to provide Executive with the number of Paid Time Off (“PTO”) days (or compensation therefor at termination of employment) accrued to Executive through the Date of Termination;

  

	 	ix.	Any material breach by Company of any provision of this Agreement;

  

	 	x.	Any failure by Company to obtain the assumption of this Agreement by any successor or assign of Company effected in accordance with the provisions of Section 7(a) hereof; 

 

	 	xi.	Any purported termination of Executive’s employment that is not effected pursuant to a Notice of Termination satisfying the requirements of Section 3(f), and for purposes of this Agreement, no such purported
termination shall be effective; or 

  

	 	xii.	Any proposal or request by Company after the Effective Date to require that Executive enter into a non-competition agreement with Company where the terms of such agreement as to its scope or duration are greater than
the terms set forth in Section 5 hereof. 

  
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	 	f.	Notice of Termination. Any termination of Executive’s employment by Company for a reason specified in Section 3(b), 3(c) or 3(d) shall be communicated to Executive by a Notice of Termination prior to
the effective date of the termination. For purposes of this Agreement, a “Notice of Termination” shall mean a written notice which shall indicate whether such termination is for the reason set forth in Section 3(b), 3(c) or 3(d) and
which sets forth in reasonable detail the facts and circumstances claimed to provide a basis for termination of Executive’s employment under the provision so indicated. For purposes of this Agreement, no termination of Executive’s
employment by Company shall constitute a termination for Disability, Retirement or Cause unless such termination is preceded by a Notice of Termination. 

  

	 	g.	Date of Termination. “Date of Termination” shall mean (a) if Executive’s employment is terminated by Company for Disability, 30 days after a Notice of Termination is given to Executive
(provided that Executive shall not have returned to the performance of Executive’s duties on a full-time basis during such 30-day period) or (b) if Executive’s employment is terminated by Company or Executive for any other reason, the
date on which Executive’s termination is effective; provided that, if within 30 days after any Notice of Termination is given to Executive by Company Executive notifies Company that a dispute exists concerning the termination, the Date of
Termination shall be the date the dispute is finally determined whether by mutual agreement by the parties or upon final judgment, order or decree of a court of competent jurisdiction (the time for appeal therefrom having expired and no appeal
having been perfected). For purposes of this Agreement, Executive’s employment by Company shall be deemed terminated upon the date Executive incurs a “separation from service” within the meaning of Section 409A(a)(2)(A)(i) of the
Internal Revenue Code of 1986, as amended (“Code”), and the regulations issued thereunder. 

  

	 	4.	Compensation and Benefits upon Termination of Employment. 

  

	 	a.	If Company shall terminate Executive’s employment after a Change in Control other than pursuant to Section 3(b), 3(c) or 3(d) and Section 3(f), or if Executive shall terminate his employment for Good
Reason, then Company shall pay to Executive, as severance compensation and in consideration of Executive’s adherence to the terms of Section 5 hereof, the following: 

 

	 	i.	On the Date of Termination, Company shall become liable to Executive for an amount equal to one and one-half (1.5) times Executive’s: a) annual base compensation as of the date of the Change in Control, and b)
the bonus paid to Executive for the most recent complete fiscal year, which amount shall be paid to Executive in cash on or before the fifth business day following the Date of Termination. 

 

	 	ii.	 For a period of eighteen (18) months following the Date of Termination, the following benefits are provided
to Executive: (a) if Executive elects and remains eligible for COBRA coverage for Executive and anyone entitled to claim under or through Executive, Executive shall be entitled to purchase the COBRA coverage under the group medical plan, dental
plan or vision plan at a subsidized COBRA rate equal to the “active” employee contribution rate for Executive and dependents (where applicable); and (b) Executive’s participation in the life or

  
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other similar insurance or death benefit plan, or other present or future similar group employee benefit plan or program of Company (excluding short-term or long-term disability insurance) for
which key executives are eligible at the date of a Change in Control, to the same extent as if Executive had continued to be an employee of Company during such period and such benefits shall, to the extent not fully paid under any such plan or
program, be paid by Company. 

  

	 	iii.	Notwithstanding any other provision of this Agreement, it is intended that any payment or benefit provided pursuant to or in connection with this Agreement that is considered to be nonqualified deferred compensation
subject to Section 409A of the Code shall be provided and paid in a manner, and at such time and in such form, as complies with the applicable requirements of Section 409A of the Code. If and to the extent required by Section 409A of
the Code, no payment or benefit shall be made or provided to a “specified employee” (as defined below) prior to the six (6) month anniversary of Executive’s separation from service (within the meaning of
Section 409A(a)(2)(A)(i) of the Code). The amounts provided for in this Agreement that constitute nonqualified deferred compensation shall be paid as soon as the six month deferral period ends. In the event that benefits are required to be
deferred, any such benefit may be provided during such six month deferral period at Executive’s expense, with Executive having a right to reimbursement from Company for the amount of any premiums or expenses paid by Executive once the six month
deferral period ends. For this purpose, a specified employee shall mean an individual who is a key employee (as defined in Section 416(i) of the Code without regard to Section 416(i)(5) of the Code) of Company at any time during the
12-month period ending on each December 31 (the “identification date”). If Executive is a key employee as of an identification date, Executive shall be treated as a specified employee for the 12-month period beginning on the
April 1 following the identification date. Notwithstanding the foregoing, Executive shall not be treated as a specified employee unless any stock of Company or a Company or business affiliated with it pursuant to Sections 414(b) or (c) of
the Code is publicly traded on an established securities market or otherwise. 

  

	 	b.	The payments provided in Section 4(a) above shall be in lieu of any other severance compensation otherwise payable to Executive under any other agreement between Executive and Company or Company’s established
severance compensation policies; provided, however, that nothing in this Agreement shall affect or impair Executive’s vested rights under any other employee benefit plan or policy of Company. For the avoidance of doubt, if more than one Change
in Control occurs during the term hereof, the term of this Agreement shall be measured from the latest such Change in Control to occur and the amount of compensation payable under Section 4(a)(1) shall be based upon the highest annual base
salary, and bonus paid for the most recent fiscal year payable to Executive on the date of any such Change in Control, but Executive shall not be entitled to receive severance compensation under Section 4(a) more than once.

  
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	 	5.	Protective Covenants. 

  

	 	a.	Definitions. 

  

	 	    	This Subsection sets forth the definition of certain capitalized terms used in Subsections (a) through (f) of this Section 5. 

 

	 	i.	“Competing Business” shall mean a business (other than Company) that, directly or through a controlled subsidiary or through an affiliate, develops, markets and supports a portfolio of supply chain
planning and execution software and services that directly competes with the software and services offered by Company or its subsidiary (collectively, “Competing Services”). 

 

	 	ii.	“Competitive Position” shall mean: (A) Executive’s direct or indirect equity ownership (excluding ownership of less than one percent (1%) of the outstanding common stock of any publicly
held Company) or control of any portion of any Competing Business; or (B) any employment, consulting, partnership, advisory, directorship, agency, promotional or independent contractor arrangement between Executive and any Competing Business
where Executive performs services for the Competing Business substantially similar to those Executive performed for Company.

  

	 	iii.	“Covenant Period” shall mean the period of time from the date of this Agreement to the date that is eighteen (18) months after the Date of Termination. 

 

	 	iv.	“Customers” shall mean actual customers, clients or referral sources to or on behalf of which Company provides Competing Services (A) during the two years prior to the date of this Agreement and
(B) during the Covenant Period. 

  

	 	v.	“Restricted Territory” shall mean the 48 continuous states of the continental United States. 

  

	 	b.	Limitation on Competition. In consideration of Company’s entering into this Agreement, Executive agrees that during the Covenant Period, Executive will not, without the prior written consent of Company,
anywhere within the Restricted Territory, either directly or indirectly, alone or in conjunction with any other party, accept, enter into or take any action in conjunction with or in furtherance of a Competitive Position (other than action to reject
an unsolicited offer of a Competitive Position). 

  

	 	c.	Limitation on Soliciting Customers. In consideration of Company’s entering into this Agreement, Executive agrees that during the Covenant Period, Executive will not, without the prior written consent of
Company, alone or in conjunction with any other party, solicit, divert or appropriate or attempt to solicit, divert or appropriate on behalf of a Competing Business with which Executive has a Competitive Position any Customer located in the
Restricted Territory (or any other Customer with which Executive had any direct contact on behalf of Company) for the purpose of providing the Customer or having the Customer provided with a Competing Service. 

 

	 	d.	 Limitation on Soliciting Personnel or Other Parties. In consideration of Company’s entering
into this Agreement, Executive hereby agrees that he will not, without the prior 

  
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written consent of Company, alone or in conjunction with any other party, solicit or attempt to solicit any employee, consultant, contractor, independent broker or other personnel of Company or
any subsidiary of Company to terminate, alter or lessen that party’s affiliation with Company or to violate the terms of any agreement or understanding between such employee, consultant, contractor or other person and Company or any subsidiary
of Company. 

  

	 	e.	Acknowledgement. The parties acknowledge and agree that the Protective Covenants are reasonable as to time, scope and territory given Company’s need to protect its trade secrets and confidential business
information and given the substantial payments and benefits to which Executive may be entitled pursuant to this Agreement. 

  

	 	f.	Remedies. The parties acknowledge that any breach or threatened breach of a Protective Covenant by Executive is reasonably likely to result in irreparable injury to Company, and therefore, in addition to
all remedies provided at law or in equity, Executive agrees that Company shall be entitled to a temporary restraining order and a permanent injunction to prevent a breach or contemplated breach of the Protective Covenant. If Company seeks an
injunction, Executive waives any requirement that Company post a bond or any other security.

  

	 	6.	No Obligation to Mitigate Damages; No Effect on Other Contractual Rights. 

  

	 	a.	All compensation and benefits provided to Executive under this Agreement are in consideration of Executive’s services rendered to Company and of Executive’s adhering to the terms set forth in Section 5
hereof and Executive shall not be required to mitigate damages or the amount of any payment provided for under this Agreement by seeking other employment or otherwise, nor shall the amount of any payment provided for under this Agreement be reduced
by any compensation earned by Executive as the result of employment by another employer after the Date of Termination, or otherwise. 

  

	 	b.	The provisions of this Agreement, and any payment provided for hereunder, shall not reduce any amounts otherwise payable, or in any way diminish Executive’s existing rights, or rights which would accrue solely as a
result of the passage of time, under any Benefit Plan, Incentive Plan or Securities Plan, employment agreement or other contract, plan or arrangement. 

  

	 	7.	Successor to Company. 

  

	 	a.	 Company will require any successor or assign (whether direct or indirect, by purchase, merger, consolidation or
otherwise) to all or substantially all of the business and/or assets of Company (“Successor or Assign”), by agreement in form and substance satisfactory to Executive, expressly, absolutely and unconditionally to assume and agree to perform
this Agreement in the same manner and to the same extent that Company would be required to perform it if no such succession or assignment had taken place. Any failure of Company to obtain such agreement prior to the effectiveness of any such
succession or assignment shall be a material breach of this Agreement and shall entitle Executive to terminate Executive’s employment for Good Reason. As used in this Agreement (except for purposes of defining “Change in Control” in
Section 2, “Company” shall mean 

  
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Company as hereinbefore defined and any Successor or Assign to Company. If at any time during the term of this Agreement Executive is employed by any entity a majority of the voting securities of
which is then owned by Company, then “Company” as used in Sections 3, 4, 12, 13, 16 and 17 hereof shall in addition include such employer. In such event, Company agrees that it shall pay or shall cause such employer to pay any amounts owed
to Executive pursuant to Section 4 hereof. 

  

	 	b.	This Agreement shall inure to the benefit of and be enforceable by Executive’s personal and legal representatives, executors, administrators, successors, heirs, distributees, devisees and legatees. If Executive
should die while any amounts are still payable to him hereunder, all such amounts, unless otherwise provided herein, shall be paid in accordance with the terms of this Agreement to Executive’s devisee, legatee, or the designee or, if there be
no such designee, to Executive’s estate. 

  

	 	8.	Notice. For purposes of this Agreement, notices and all other communications provided for in this Agreement shall be in writing and shall be deemed to have been duly given when delivered by overnight
courier service (e.g., Federal Express) or mailed by United States certified mail, return receipt required, postage prepaid, as follows: 

If to Company: 

American Software, Inc. 

470 East Paces Ferry Road, N.E. 

Atlanta, Georgia 30305 

Attention: General Counsel 

If to Executive: 

James R. McGuone 

210 Inland Ridge Way, NC 

Atlanta, GA 30342 

or such other address as either party may have furnished to the other in writing in accordance herewith, except that notices of change of
address shall be effective only upon receipt. 
  

	 	9.	Miscellaneous. No provisions of this Agreement may be modified, waived or discharged unless such waiver, modification or discharge is agreed to in writing signed by Executive and Company. No waiver by
either party hereto at any time of any breach by the other party hereto of, or compliance with, any condition or provision of this Agreement to be performed by such other party shall be deemed a waiver of similar or dissimilar provisions or
conditions at the same or at any prior or subsequent time. No agreements or representations, oral or otherwise, express or implied, with respect to the subject matter hereof have been made by either party which are not set forth expressly in this
Agreement. This Agreement shall be governed by and construed in accordance with the laws of the State of Georgia. 

  

	 	10.	Validity. The invalidity or unenforceability of any provisions of this Agreement shall not affect the validity or enforceability of any other provision of this Agreement, which shall remain in full force
and effect. 

  
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	 	11.	Counterparts. This Agreement may be executed in one or more counterparts, each of which shall be deemed to be an original but all of which together shall constitute one and the same instrument.

  

	 	12.	Legal Fees and Expenses. Company shall pay all legal fees, expenses and damages which Executive may incur as a result of Executive’s instituting legal action to enforce his rights hereunder, or in the
event Company contests the validity, enforceability or Executive’s interpretation of, or determinations under, this Agreement. If Executive is the prevailing party or recovers any damages in such legal action, Executive shall be entitled to
receive in addition thereto pre-judgment and post-judgment interest on the amount of such damages. 

  

	 	13.	Section 409A Indemnification. Notwithstanding any other provision of this Agreement, it is intended that any payment or benefit which is provided pursuant to or in connection with this Agreement which
is considered to be nonqualified deferred compensation subject to Section 409A of the Code shall be provided and paid in a manner, and at such time and in such form, as complies with the applicable requirements of Section 409A of the Code.
Company and Executive shall cooperate to modify this Agreement as necessary to comply with the requirements of Section 409A of the Code. In the event Company does not so cooperate, it shall indemnify and hold harmless Executive on an after-tax
basis from any tax or interest penalty imposed under Section 409A of the Code with respect to any payment or benefit provided pursuant to this Agreement or any other plan or arrangement sponsored or maintained by Company to the extent such tax
or interest penalty is imposed as a result of any failure of Company to comply with Section 409A of the Code with respect to such payment or benefit. 

  

	 	14.	Severability; Modification. All provisions of this Agreement are severable from one another, and the unenforceability or invalidity of any provision of this Agreement shall not affect the validity or
enforceability of the remaining provisions of this Agreement, but such remaining provisions shall be interpreted and construed in such a manner as to carry out fully the intention of the parties. Should any judicial body interpreting this Agreement
deem any provision of this Agreement to be unreasonably broad in time, territory, scope or otherwise, it is the intent and desire of the parties that such judicial body, to the greatest extent possible, reduce the breadth of such provision to the
maximum legally allowable parameters rather than deeming such provision totally unenforceable or invalid. 

  

	 	15.	Agreement Not an Employment Contract. This Agreement shall not be deemed to constitute or be deemed ancillary to an employment contract between Company and Executive, and nothing herein shall be deemed to
give Executive the right to continue in the employ of Company or to eliminate the right of Company to discharge Executive at any time. 

[Signature Page Follows] 

  
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 IN WITNESS WHEREOF, the parties have executed this Agreement to be effective as of the date first above
written. 
  

			
	AMERICAN SOFTWARE, INC. 
		
	By:	 	/s/ James C. Edenfield
		 	Name: James C. Edenfield
		 	Title: Executive Chairman

  

			
	EXECUTIVE 
		
		 	/s/ James R. McGuone
		 	James R. McGuone

  
 11EX-4.2

 Exhibit 4.2 

FOURTH AMENDED AND RESTATED INVESTORS’ RIGHTS AGREEMENT 

THIS FOURTH AMENDED AND RESTATED INVESTORS’ RIGHTS AGREEMENT (the “Agreement”) is made as of May 7, 2008, by and
among Airgain, Inc., a California corporation (the “Company”), and the investors listed on Schedule A (each, an “Investor” and collectively, the “Investors”). 

RECITALS 
 WHEREAS, in
connection with the sale by the Company of its Series A Preferred Stock, Series B Preferred Stock, Series C Preferred Stock, Series D Preferred Stock, Series E Preferred Stock, and Series F Preferred Stock, the Company, certain of the Investors
and others have previously entered into that certain Third Amended and Restated Investors’ Rights Agreement dated as of February 9, 2007 (the “Prior Agreement”); 

WHEREAS, the Company intends to sell shares of its Series G Preferred Stock concurrently with the execution herewith (the “Series G
Financing”); 
 WHEREAS, the Company and certain of the Investors have entered into a Series G Preferred Stock Purchase Agreement
for sale by the Company and purchase by such Investors of the Company’s Series G Preferred Stock in connection with the Series G Financing (the “Purchase Agreement”); 

WHEREAS, in order to induce investors to purchase shares of the Company’s Series G Preferred Stock and execute the Purchase Agreement,
the investors’ obligations of which are conditioned upon the execution and delivery of this Agreement, the Investors and the Company wish to amend and restate the Prior Agreement in its entirety as set forth below so that this Agreement shall
govern the rights of the Investors to cause the Company to register shares of the Company’s Common Stock (“Common Stock”) issuable to the Investors and certain other matters as set forth herein; and 

WHEREAS, the Investors who were signatories to the Prior Agreement consent to the addition as parties to this Agreement the Investors who
purchase the Company’s Series G Preferred Stock. 
 NOW, THEREFORE, THE PARTIES HEREBY AGREE AS FOLLOWS: 

1. Registration Rights. The Company covenants and agrees as follows: 

1.1 Definitions. For purposes of this Agreement: 

(a) The term “Act” means the Securities Act of 1933, as amended. 

(b) The term “Affiliate” or “Affiliated Entity” means (i) any pooled investment entity for which the
Investor or Holder, as the case may be, has investment and disposition discretion over the assets of the entity, or (ii) any other person or entity controlling, 

  
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under common control with or controlled by an Investor or Holder, as the case may be; for purposes of this definition, “control” means direct or indirect beneficial ownership of more
than fifty percent (50%) of the voting or income interest in the relevant business entity. 
 (c) “Equity Securities”
shall mean (i) any Common Stock, Preferred Stock or other security of the Company, (ii) any security convertible, with or without consideration, into any Common Stock, Preferred Stock or other security (including any option to purchase
such a convertible security), (iii) any security carrying any warrant or right to subscribe to or purchase any Common Stock, Preferred Stock or other security or (iv) any such warrant or right. 

(d) The term “Form S-3” means such form under the Act as in effect on the date hereof or any registration form under the Act
subsequently adopted by the SEC which permits inclusion or incorporation of substantial information by reference to other documents filed by the Company with the SEC. 

(e) The term “Holder” means any person owning or having the right to acquire Registrable Securities or any assignee thereof
in accordance with Section 1.13 hereof. 
 (f) The term “1934 Act” shall mean the Securities Exchange Act of 1934, as
amended. 
 (g) The term “Preferred Stock” means the Company’s Series A Preferred Stock, Series B Preferred Stock,
Series C Preferred Stock, Series D Preferred Stock, Series E Preferred Stock, Series F Preferred Stock and Series G Preferred Stock. 
 (h)
The term “register,” “registered,” and “registration” refer to a registration effected by preparing and filing a registration statement or similar document in compliance with the Act, and the
declaration or ordering of effectiveness of such registration statement or document. 
 (i) The term “Registrable
Securities” means (i) the Common Stock issued or issuable upon conversion of the Preferred Stock, (ii) any Common Stock otherwise purchased by the Investors, and (iii) any Common Stock issued as (or issuable upon the
conversion or exercise of any warrant, right or other security which is issued as) a dividend or other distribution with respect to, or in exchange for or in replacement of the Preferred Stock or Common Stock, excluding in all cases, however,
(A) any Registrable Securities sold in a transaction in which the registration rights contemplated by this Agreement are not assigned, (B) any securities sold by a person to the public pursuant to a registration statement or pursuant to
Rule 144 adopted by the SEC under the Act, and (C) any accrued but unpaid dividends payable in shares of Common Stock on conversion of the Preferred Stock. 

(j) The number of shares of “Registrable Securities then outstanding” shall be determined by the number of shares of Common
Stock outstanding which are, and the number of shares of Common Stock issuable pursuant to then exercisable or convertible securities which are, Registrable Securities. 

(k) The term “SEC” shall mean the Securities and Exchange Commission. 

  
 2 

 (l) “Special Registration Statement” shall mean a registration statement
relating to any employee benefit plan or with respect to any corporate reorganization or other transaction under Rule 145 of the Securities Act. 

1.2 Request for Registration. 

(a) If the Company shall receive at any time after one hundred eighty (180) days after the effective date of the first registration
statement for a public offering of securities of the Company (other than Special Registration Statements), a written request from the Holders of at least forty percent (40%) of the Registrable Securities then outstanding that the Company file a
registration statement under the Act covering the registration of Registrable Securities, the anticipated aggregate offering price, net of underwriting discounts and commissions, of which would exceed $7,500,000, then the Company shall: 

(i) within ten (10) days after the receipt thereof, give written notice of such request to all Holders; and 

(ii) effect as soon as practicable, and in any event within sixty (60) days after the receipt of such request, the registration under
the Act of all Registrable Securities which the Holders request to be registered, subject to the limitations of subsection 1.2(b), within thirty (30) days after the mailing of such notice by the Company in accordance with Section 3.6. 

(b) If the Holders initiating the registration request hereunder (“Initiating Holders”) intend to distribute the Registrable
Securities covered by their request by means of an underwriting, they shall so advise the Company as a part of their request made pursuant to subsection 1.2(a) and the Company shall include such information in the written notice referred to in
subsection 1.2(a). The underwriter will be selected by the Company. In such event, the right of any Holder to include its Registrable Securities in such registration shall be conditioned upon such Holder’s participation in such underwriting and
the inclusion of such Holder’s Registrable Securities in the underwriting (unless otherwise mutually agreed by a majority in interest of the Initiating Holders, such Holder, and the Company) to the extent provided herein. All Holders proposing
to distribute their securities through such underwriting shall (together with the Company as provided in subsection 1.4(e)) enter into an underwriting agreement in customary form with the underwriter or underwriters selected for such underwriting.
Notwithstanding any other provision of this Section 1.2, if the underwriter advises the Initiating Holders that marketing factors require a limitation of the number of shares to be underwritten, then the Initiating Holders shall so advise all
Holders of Registrable Securities which would otherwise be underwritten pursuant hereto, and the number of shares of Registrable Securities that may be included in the underwriting shall be allocated among all Holders thereof, including the
Initiating Holders, in proportion (as nearly as practicable) to the amount of Registrable Securities of the Company owned by each Holder; provided, however, that the number of shares of Registrable Securities to be included in such underwriting
shall not be reduced unless all other securities are first entirely excluded from the underwriting. 
 (c) Notwithstanding the foregoing,
if the Company shall furnish to Holders requesting a registration statement pursuant to this Section 1.2, a certificate signed by 

  
 3 

 
the President or Chief Executive Officer of the Company stating that in the good faith judgment of the Board of Directors of the Company, it would be seriously detrimental to the Company and its
shareholders for such registration statement to be filed and it is therefore essential to defer the filing of such registration statement, the Company shall have the right to defer taking action with respect to such filing for a period of not more
than one hundred twenty (120) days after receipt of the request of the Initiating Holders; provided, however, that the Company may not utilize this right more than once in any twelve-month period. 

(d) In addition, the Company shall not be obligated to effect, or to take any action to effect, any registration pursuant to this
Section 1.2: 
 (i) After the Company has effected two registrations pursuant to this Section 1.2 and such registrations have
been declared or ordered effective; 
 (ii) During the period starting with the date of filing of, and ending on a date one hundred eighty
(180) days after the effective date of, a registration subject to Section 1.3 hereof; provided that the Company is actively employing in good faith all reasonable efforts to cause such registration statement to become effective; or 

(iii) If the Initiating Holders propose to dispose of shares of Registrable Securities that may be immediately registered on Form S-3
pursuant to a request made pursuant to Section 1.12 below. 
 1.3 Company Registration. The Company shall notify all Holders of
Registrable Securities in writing at least fifteen days prior to the filing of any registration statement under the Act for purposes of a public offering of securities of the Company (including, but not limited to, registration statements relating
to secondary offerings of securities of the Company, but excluding Special Registration Statements) and will afford each such Holder an opportunity to include in such registration statement all or part of such Registrable Securities held by such
Holder. Each Holder desiring to include in any such registration statement all or any part of the Registrable Securities held by it shall, within fifteen (15) days after the above-described notice from the Company, so notify the Company in
writing. Such notice shall state the intended method of disposition of the Registrable Securities by such Holder. If a Holder decides not to include all of its Registrable Securities in any registration statement thereafter filed by the Company,
such Holder shall nevertheless continue to have the right to include any Registrable Securities in any subsequent registration statement or registration statements as may be filed by the Company with respect to offerings of its securities, all upon
the terms and conditions set forth herein. 
 1.4 Obligations of the Company. Whenever required under this Section 1 to effect
the registration of any Registrable Securities, the Company shall, as expeditiously as reasonably practicable: 
 (a) Prepare and file with
the SEC a registration statement with respect to such Registrable Securities and use reasonable efforts to cause such registration statement to become effective, and, upon the request of the Holders of a majority of the Registrable Securities
registered thereunder, keep such registration statement effective for a period of up to one 

  
 4 

 
hundred twenty (120) days or until the distribution contemplated in the Registration Statement has been completed; provided, however, that (i) such 120-day period shall be extended for
a period of time equal to the period the Holder refrains from selling any securities included in such registration at the request of an underwriter of Common Stock (or other securities) of the Company; and (ii) in the case of any registration
of Registrable Securities on Form S-3 which are intended to be offered on a continuous or delayed basis, such 120-day period shall be extended, if necessary, to keep the registration statement effective until all such Registrable Securities are
sold, provided that Rule 415, or any successor rule under the Act, permits an offering on a continuous or delayed basis, and provided further that applicable rules under the Act governing the obligation to file a post-effective amendment permit, in
lieu of filing a post-effective amendment which (I) includes any prospectus required by Section 10(a)(3) of the Act or (II) reflects facts or events representing a material or fundamental change in the information set forth in the
registration statement, the incorporation by reference of information required to be included in (I) and (II) above to be contained in periodic reports filed pursuant to Section 13 or 15(d) of the 1934 Act in the registration statement.

 (b) Prepare and file with the SEC such amendments and supplements to such registration statement and the prospectus used in connection
with such registration statement as may be necessary to comply with the provisions of the Act with respect to the disposition of all securities covered by such registration statement. 

(c) Furnish to the Holders such numbers of copies of a prospectus, including a preliminary prospectus, in conformity with the requirements of
the Act, and such other documents as they may reasonably request in order to facilitate the disposition of Registrable Securities owned by them. 

(d) Use reasonable efforts to register and qualify the securities covered by such registration statement under such other securities or Blue
Sky laws of such jurisdictions as shall be reasonably requested by the Holders; provided that the Company shall not be required in connection therewith or as a condition thereto to qualify to do business or to file a general consent to service of
process in any such states or jurisdictions. 
 (e) In the event of any underwritten public offering, enter into and perform its
obligations under an underwriting agreement, in usual and customary form, with the managing underwriter of such offering. Each Holder participating in such underwriting shall also enter into and perform its obligations under such an agreement. 

(f) Notify each Holder of Registrable Securities covered by such registration statement at any time when a prospectus relating thereto is
required to be delivered under the Act of the happening of any event as a result of which the prospectus included in such registration statement, as then in effect, includes an untrue statement of a material fact or omits to state a material fact
required to be stated therein or necessary to make the statements therein not misleading in the light of the circumstances then existing. 

(g) Cause all such Registrable Securities registered pursuant hereunder to be listed on each securities exchange on which similar securities
issued by the Company are then listed. 

  
 5 

 (h) Provide a transfer agent and registrar for all Registrable Securities registered pursuant
hereunder and a CUSIP number for all such Registrable Securities, in each case not later than the effective date of such registration. 

1.5 Furnish Information. 

(a) It shall be a condition precedent to the obligations of the Company to take any action pursuant to this Section 1 with respect to
the Registrable Securities of any selling Holder that such Holder shall furnish to the Company such information regarding itself, the Registrable Securities held by it, and the intended method of disposition of such securities as shall be required
to effect the registration of such Holder’s Registrable Securities. 
 (b) The Company shall have no obligation with respect to any
registration requested pursuant to Section 1.2 or Section 1.12 if, due to the operation of subsection 1.5(a), the number of shares or the anticipated aggregate offering price of the Registrable Securities to be included in the registration
does not equal or exceed the number of shares or the anticipated aggregate offering price required to originally trigger the Company’s obligation to initiate such registration as specified in subsection 1.2(a) or subsection 1.12(b)(2),
whichever is applicable. 
 1.6 Expenses of Demand Registration. All reasonable expenses other than underwriting discounts and
commissions incurred in connection with registrations, filings or qualifications pursuant to Sections 1.2 and 1.12, including (without limitation) all registration, filing and qualification fees, printers’ and accounting fees, fees and
disbursements of counsel for the Company and the reasonable fees and disbursements of one counsel for the selling Holders shall be borne by the Company; provided, however, that the Company shall not be required to pay for any expenses of any
registration proceeding begun pursuant to Section 1.2 if the registration request is subsequently withdrawn at the request of the Holders of a majority of the Registrable Securities to be registered (in which case all participating holders
shall bear such expenses), unless the Holders of a majority of the Registrable Securities agree to forfeit their right to one demand registration pursuant to Section 1.2. 

1.7 Expenses of Company Registration. The Company shall bear and pay all reasonable expenses incurred in connection with any
registration, filing or qualification of Registrable Securities with respect to the registrations pursuant to Section 1.3 for each Holder (which right may be assigned as provided in Section 1.13), including (without limitation) all
registration, filing, and qualification fees, printers and accounting fees relating or apportionable thereto and the reasonable fees and disbursements of one counsel for the selling Holders selected by them, but excluding underwriting discounts and
commissions relating to Registrable Securities. 
 1.8 Underwriting Requirements. In connection with any offering involving an
underwriting of shares of the Company’s capital stock, the Company shall not be required under Section 1.3 to include any of the Holders’ securities in such underwriting unless they accept the terms of the underwriting as agreed upon
between the Company and the underwriters selected by the Company, and then only in such quantity as the underwriters and the Company determine in their sole discretion will not jeopardize the success of the offering by the Company. If the total
amount of securities, including Registrable Securities, requested by shareholders to be included 

  
 6 

 
in such offering exceeds the amount of securities sold other than by the Company that the underwriters and the Company determine in their sole discretion is compatible with the success of the
offering, then the Company shall be required to include in the offering only that number of such securities, including Registrable Securities, which the underwriters and the Company determine in their sole discretion will not jeopardize the success
of the offering (the securities so included to be apportioned pro rata among the selling shareholders according to the total amount of securities entitled to be included therein owned by each selling shareholder or in such other proportions as shall
mutually be agreed to by such selling shareholders) but in no event shall (i) the amount of securities of the selling Holders included in the offering be reduced below twenty five percent (25%) of the total amount of securities included in
such offering, unless such offering is the initial public offering of the Company’s securities in which case the selling shareholders may be excluded if the underwriters make the determination described above. For purposes of the preceding
parenthetical concerning apportionment, for any selling shareholder which is a holder of Registrable Securities and which is a partnership or corporation, the partners, retired partners and shareholders of such holder, or the estates and family
members of any such partners and retired partners and any trusts for the benefit of any of the foregoing persons shall be deemed to be a single “selling shareholder,” and any pro-rata reduction with respect to such “selling
shareholder” shall be based upon the aggregate amount of shares carrying registration rights owned by all entities and individuals included in such “selling shareholder,” as defined in this sentence. 

1.9 Delay of Registration. No Holder shall have any right to obtain or seek an injunction restraining or otherwise delaying any such
registration as the result of any controversy that might arise with respect to the interpretation or implementation of this Section 1. 

1.10 Indemnification. In the event any Registrable Securities are included in a registration statement under this Section 1: 

(a) To the extent permitted by law, the Company will indemnify and hold harmless each Holder, any underwriter (as defined in the Act) for
such Holder and each person, if any, who controls such Holder or underwriter within the meaning of the Act or the 1934 Act, against any losses, claims, damages, or liabilities (joint or several) to which they may become subject under the Act, the
1934 Act or other federal or state law, insofar as such losses, claims, damages, or liabilities (or actions in respect thereof) arise out of or are based upon any of the following statements, omissions or violations (collectively a
“Violation”): (i) any untrue statement or alleged untrue statement of a material fact contained in such registration statement, including any preliminary prospectus or final prospectus contained therein or any amendments or
supplements thereto, (ii) the omission or alleged omission to state therein a material fact required to be stated therein, or necessary to make the statements therein not misleading, or (iii) any violation or alleged violation by the
Company of the Act, the 1934 Act, any state securities law or any rule or regulation promulgated under the Act, the 1934 Act or any state securities law; and the Company will pay to each such Holder, underwriter or controlling person, as incurred,
any legal or other expenses reasonably incurred by them in connection with investigating or defending any such loss, claim, damage, liability, or action; provided, however, that the indemnity agreement contained in this subsection 1.10(a) shall not
apply to amounts paid in settlement of any such loss, claim, damage, liability, or action if such settlement is effected without the consent of the Company (which consent shall not be unreasonably withheld), nor

  
 7 

 
shall the Company be liable in any such case for any such loss, claim, damage, liability, or action to the extent that it arises out of or is based upon a Violation which occurs in reliance upon
and in conformity with written information furnished expressly for use in connection with such registration by any such Holder, underwriter or controlling person. 

(b) To the extent permitted by law, each selling Holder will indemnify and hold harmless the Company, each of its directors, each of its
officers who has signed the registration statement, each person, if any, who controls the Company within the meaning of the Act, any underwriter, any other Holder selling securities in such registration statement and any controlling person of any
such underwriter or other Holder, against any losses, claims, damages, or liabilities (joint or several) to which any of the foregoing persons may become subject, under the Act, the 1934 Act or other federal or state law, insofar as such losses,
claims, damages, or liabilities (or actions in respect thereto) arise out of or are based upon any Violation, in each case to the extent (and only to the extent) that such Violation occurs in reliance upon and in conformity with written information
furnished by such Holder expressly for use in connection with such registration; and each such Holder will pay, as incurred, any legal or other expenses reasonably incurred by any person intended to be indemnified pursuant to this subsection
1.10(b), in connection with investigating or defending any such loss, claim, damage, liability, or action; provided, however, that the indemnity agreement contained in this subsection 1.10(b) shall not apply to amounts paid in settlement of any such
loss, claim, damage, liability or action if such settlement is effected without the consent of the Holder, which consent shall not be unreasonably withheld; provided, that, in no event shall any indemnity under this subsection 1.10(b) exceed the
gross proceeds from the offering received by such Holder. Notwithstanding the foregoing, such selling Holder’s obligations hereunder shall be limited to an amount equal to the proceeds to such selling holder from the securities sold in any such
registration. 
 (c) Promptly after receipt by an indemnified party under this Section 1.10 of notice of the commencement of any
action (including any governmental action), such indemnified party will, if a claim in respect thereof is to be made against any indemnifying party under this Section 1.10, deliver to the indemnifying party a written notice of the commencement
thereof and the indemnifying party shall have the right to participate in, and, to the extent the indemnifying party so desires, jointly with any other indemnifying party similarly noticed, to assume the defense thereof with counsel mutually
satisfactory to the parties; provided, however, that an indemnified party (together with all other indemnified parties which may be represented without conflict by one counsel) shall have the right to retain one separate counsel, with the fees and
expenses to be paid by the indemnifying party, if representation of such indemnified party by the counsel retained by the indemnifying party would be inappropriate due to actual or potential differing interests between such indemnified party and any
other party represented by such counsel in such proceeding. The failure to deliver written notice to the indemnifying party within a reasonable time of the commencement of any such action, if prejudicial to its ability to defend such action, shall
relieve such indemnifying party of any liability to the indemnified party under this Section 1.10, but the omission so to deliver written notice to the indemnifying party will not relieve it of any liability that it may have to any indemnified
party otherwise than under this Section 1.10. 
 (d) If the indemnification provided for in this Section 1.10 is held by a court
of competent jurisdiction to be unavailable to an indemnified party with respect to any loss, 

  
 8 

 
liability, claim, damage, or expense referred to therein, then the indemnifying party, in lieu of indemnifying such indemnified party hereunder, shall contribute to the amount paid or payable by
such indemnified party as a result of such loss, liability, claim, damage, or expense in such proportion as is appropriate to reflect the relative fault of the indemnifying party on the one hand and of the indemnified party on the other in
connection with the statements or omissions that resulted in such loss, liability, claim, damage, or expense as well as any other relevant equitable considerations. The relative fault of the indemnifying party and of the indemnified party shall be
determined by reference to, among other things, whether the untrue or alleged untrue statement of a material fact or the omission to state a material fact relates to information supplied by the indemnifying party or by the indemnified party and the
parties’ relative intent, knowledge, access to information, and opportunity to correct or prevent such statement or omission. 
 (e)
Notwithstanding the foregoing, to the extent that the provisions on indemnification and contribution contained in the underwriting agreement entered into in connection with the underwritten public offering are in conflict with the foregoing
provisions, the provisions in the underwriting agreement shall control. 
 (f) The obligations of the Company and Holders under this
Section 1.10 shall survive the completion of any offering of Registrable Securities in a registration statement under this Section 1, and otherwise. 

1.11 Reports Under Securities Exchange Act of 1934. With a view to making available to the Holders the benefits of Rule 144
promulgated under the Act and any other rule or regulation of the SEC that may at any time permit a Holder to sell securities of the Company to the public without registration or pursuant to a registration on Form S-3, the Company agrees to use
reasonable efforts to: 
 (a) make and keep public information available, as those terms are understood and defined in SEC Rule 144, at all
times after ninety (90) days after the effective date of the first registration statement filed by the Company for the offering of its securities to the general public; 

(b) file with the SEC in a timely manner all reports and other documents required of the Company under the Act and the 1934 Act; and 

(c) furnish to any Holder, so long as the Holder owns any Registrable Securities, forthwith upon request (i) a written statement by the
Company that it has complied with the reporting requirements of SEC Rule 144 (at any time after ninety (90) days after the effective date of the first registration statement filed by the Company), the Act and the 1934 Act (at any time after it
has become subject to such reporting requirements), or that it qualifies as a registrant whose securities may be resold pursuant to Form S-3 (at any time after it so qualifies), (ii) a copy of the
most recent annual or quarterly report of the Company and such other reports and documents so filed by the Company, and (iii) such other information as may be reasonably requested in availing any Holder of any rule or regulation of the SEC
which permits the selling of any such securities without registration or pursuant to such form. 

  
 9 

 1.12 Form S-3 Registration. In case the Company shall receive from any Holder or Holders a
written request or requests that the Company effect a registration on Form S-3 (or any successor to Form S-3) or any similar short-form registration statement and any related qualification or compliance with respect to all or a part of the
Registrable Securities owned by such Holder or Holders, the Company will: 
 (a) promptly give written notice of the proposed registration,
and any related qualification or compliance, to all other Holders; and 
 (b) as soon as practicable, effect such registration and all such
qualifications and compliances as may be so requested and as would permit or facilitate the sale and distribution of all or such portion of such Holder’s or Holders’ Registrable Securities as are specified in such request, together with
all or such portion of the Registrable Securities of any other Holder or Holders joining in such request as are specified in a written request given within 15 days after receipt of such written notice from the Company; provided, however, that the
Company shall not be obligated to effect any such registration, qualification or compliance, pursuant to this Section 1.12: (1) if Form S-3 is not available for such offering by the Holders; (2) if the Holders, together with the
holders of any other securities of the Company entitled to inclusion in such registration, propose to sell Registrable Securities and such other securities (if any) at an aggregate price to the public (net of any underwriters’ discounts or
commissions) of less than $1,000,000; (3) if the Company shall furnish to the Holders a certificate signed by the President or Chief Executive Officer of the Company stating that in the good faith judgment of the Company’s Board of
Directors it would be seriously detrimental to the Company and its shareholders for such Form S-3 Registration to be effected at such time, in which event the Company shall have the right to defer the filing of the Form S-3 registration statement
for a period of not more than ninety (90) days after receipt of the request of the Holder or Holders under this Section 1.12; provided, however, that the Company shall not utilize this right more than once in any twelve month period;
(4) if the Company has already effected two registrations on Form S-3 for the Holders pursuant to this Section 1.12; or (5) in any particular jurisdiction in which the Company would be required to qualify to do business or to execute
a general consent to service of process in effecting such registration, qualification or compliance. 
 (c) Subject to the foregoing, the
Company shall file a registration statement covering the Registrable Securities and other securities so requested to be registered as soon as practicable after receipt of the request or requests of the Holders. All reasonable expenses incurred in
connection with a registration requested pursuant to Section 1.12, including (without limitation) all registration, filing, qualification, printer’s and accounting fees and the reasonable fees and disbursements of one counsel for the
selling Holder or Holders and counsel for the Company, shall be borne by the Company. Registrations effected pursuant to this Section 1.12 shall not be counted as demands for registration or registrations effected pursuant to Sections 1.2 or
1.3, respectively. 
 1.13 Assignment of Registration Rights. The rights to cause the Company to register Registrable Securities
pursuant to this Section 1 may be assigned (but only with all related obligations) by a Holder to (i) any partner (whether limited or general) or retired partner of a partnership, (ii) any Affiliate of Holder if both Holder and the
transferee are entities, or (iii) a transferee or assignee of such securities who, after such assignment or transfer, holds at least 

  
 10 

 
50,000 shares of Registrable Securities (subject to appropriate adjustment for stock splits, stock dividends, combinations and other recapitalizations), provided: (a) the Company is, within
a reasonable time after such transfer, furnished with written notice of the name and address of such transferee or assignee and the securities with respect to which such registration rights are being assigned; (b) such transferee or assignee
agrees in writing to be bound by and subject to the terms and conditions of this Agreement, including without limitation the provisions of Section 1.15 below; and (c) such assignment shall be effective only if immediately following such
transfer the further disposition of such securities by the transferee or assignee is restricted under the Act. For the purposes of determining the number of shares of Registrable Securities held by a transferee or assignee, the holdings of
transferees and assignees of a partnership who are partners or retired partners of such partnership (including spouses and ancestors, lineal descendants and siblings of such partners or spouses who acquire Registrable Securities by gift, will or
intestate succession) shall be aggregated together and with the partnership; provided that all assignees and transferees who would not qualify individually for assignment of registration rights shall have a single attorney-in-fact for the purpose of
exercising any rights, receiving notices or taking any action under this Section 1. 
 1.14 Limitations on Subsequent Registration
Rights. From and after the date of this Agreement, the Company shall not, without the prior written consent of the Holders of a majority of the outstanding Registrable Securities, enter into any agreement with any holder or prospective holder of
any securities of the Company which would allow such holder or prospective holder (a) to include such securities in any registration filed under Section 1.2 hereof, unless under the terms of such agreement, such holder or prospective
holder may include such securities in any such registration only to the extent that the inclusion of its securities will not reduce the amount of the Registrable Securities of the Holders which is included or (b) to make a demand registration
which could result in such registration statement being declared effective prior to the earlier of either of the dates set forth in subsection 1.2(a) or within one hundred twenty (120) days after the effective date of any registration effected
pursuant to Section 1.2. 
 1.15 “Market Stand-Off” Agreement. Each Investor hereby agrees that, during the period of
duration specified by the Company or an underwriter of Common Stock or other securities of the Company, following the effective date of a registration statement of the Company filed under the Act, it shall not, to the extent requested by the Company
or such underwriter, directly or indirectly sell, offer to sell, contract to sell (including, without limitation, any short sale), grant any option to purchase or otherwise transfer or dispose of (other than to donees who agree to be similarly
bound) any securities of the Company held by it at any time during such period except Common Stock included in such registration; provided, however, that such market stand-off time period shall not exceed one hundred eighty (180) days. 

In order to enforce the foregoing covenant, the Company may impose stop-transfer instructions with respect to the Registrable Securities of
each Investor (and the shares or securities of every other person subject to the foregoing restriction) until the end of such period. 

Notwithstanding the foregoing, the obligations described in this Section 1.15 shall not apply to a registration relating solely to a
Special Registration Statement. 

  
 11 

 1.16 Termination of Registration Rights. 

No Holder shall be entitled to exercise any right provided for in this Section 1 after (i) three (3) years following the
consummation of the sale of securities pursuant to a registration statement filed by the Company under the Act in connection with the initial firm commitment underwritten offering of its securities to the general public, or (ii) with respect to
a Holder of Registrable Securities, the date upon which such Holder’s Registrable Securities may be sold pursuant to Rule 144(b)(1) promulgated under the Act. 

2. Covenants of the Company. 

2.1 Delivery of Financial Statements. The Company shall (A) deliver to each Investor who holds, together with its Affiliates, at
least 150,000 shares of Registrable Securities (as adjusted for stock splits and combinations) issued or issuable upon conversion of the Series E Preferred Stock, the Series F Preferred Stock and/or the Series G Preferred Stock, or any combination
thereof (a “Major Senior Preferred Investor”), and (B) upon the request of any other Investor who holds at least 250,000 shares of Registrable Securities (as adjusted for stock splits and combinations) (a “Key
Investor” and, together with the Major Senior Preferred Investors, the “Major Investors”), deliver to each such Major Investor, the following: 

(a) within ninety (90) days after the later of the Company’s receipt of such request, if applicable, and the end of any fiscal year
of the Company, an income statement for such fiscal year, a balance sheet of the Company and statement of shareholder’s equity as of the end of such year, and a schedule as to the sources and applications of funds for such year, such year-end
financial reports to be in reasonable detail, prepared in accordance with generally accepted accounting principles (“GAAP”), and audited and certified by independent public accountants of regionally recognized reputation selected by
the Company. 
 (b) As soon as practicable after the end of the first, second and third quarterly accounting periods in each fiscal year of
the Company, and in any event within forty-five (45) days thereafter, a balance sheet of the Company as of the end of each such quarterly period, and a statement of income and a statement of cash flows of the Company for such period and for the
current fiscal year to date. 
 (c) within the later of sixty (60) days after the Company’s receipt of such request, if
applicable, and sixty (60) days prior to the end of the fiscal year, a budget and business plan for the next fiscal year, prepared on a monthly basis, including balance sheets and sources and applications of funds statements for such months
and, as soon as prepared, any other budgets or revised budgets prepared by the Company and approved by its Board of Directors; 
 (d) with
respect to the financial statements called for in Section 2.1(b), an instrument executed by the Chief Financial Officer, Chief Executive Officer or President of the Company and certifying that such financials were prepared in accordance with
GAAP consistently applied with prior practice for earlier periods (with the exception of footnotes that may be required by GAAP) and fairly present the financial condition of the Company and its results of operation for the period specified, subject
to year-end audit adjustment; and 

  
 12 

 (e) such other information relating to the financial condition, business, prospects or corporate
affairs of the Company as such requesting party may from time to time reasonably request, provided, however, that the Company shall not be obligated under this subsection (e) or any other subsection of Section 2.1 to provide information
which it deems in good faith to be a trade secret or similar confidential information. 
 2.2 Inspection. The Company shall permit
each Major Investor, at such Major Investor’s expense, to visit and inspect the Company’s properties, to examine its books of account and records and to discuss the Company’s affairs, finances and accounts with its officers, all at
such reasonable times as may be requested by such Major Investor; provided, however, that the Company shall not be obligated pursuant to this Section 2.2 to provide access to any information which it reasonably considers to be a trade secret or
similar confidential information. 
 2.3 Confidentiality. Each Major Investor agrees to use, and to use its best efforts to insure
that its authorized representatives use, the same degree of care as such Investor uses to protect its own confidential information to keep confidential any information furnished to it which the Company identifies as being confidential or proprietary
(so long as such information is not in the public domain), except that such Investor may disclose such proprietary or confidential information to any partner, subsidiary or parent of such Investor for the purpose of evaluating its investment in the
Company as long as such partner, subsidiary or parent is advised of the confidentiality provisions of this Section 2.3. 
 2.4
Termination of Information and Inspection Covenants. The covenants set forth in Sections 2.1 and 2.2 shall terminate as to Major Investors and be of no further force or effect upon the earliest to occur of (i) the consummation of the
sale of securities pursuant to a registration statement filed by the Company under the Act in connection with the firm commitment underwritten offering of its securities to the general public that results in the Preferred Stock being converted into
Common Stock, (ii) the date the Company first becomes subject to the periodic reporting requirements of Sections 12(g) or 15(d) of the 1934 Act, or (iii) (a) the sale, lease or other disposition of all or substantially all of the
assets of the Company or (b) an acquisition of the Company by another corporation or entity by consolidation, merger or other reorganization in which the holders of the Company’s outstanding voting stock immediately prior to such
transaction own, immediately after such transaction, securities representing less than fifty percent (50%) of the voting power of the corporation or other entity surviving such transaction, provided that this clause (iii) shall not apply
to a merger effected exclusively for the purpose of changing the domicile of the Company (a “Change of Control”). 
 2.5
Reservation of Common Stock. The Company will at all times reserve and keep available, solely for issuance and delivery upon the conversion of the Preferred Stock, all Common Stock issuable from time to time upon such conversion. 

2.6 Right of First Offer. Subject to the terms and conditions specified in this Section 2.6, the Company hereby grants to each Major
Investor a right of first offer with respect to future sales by the Company of its Equity Securities. For purposes of this Section 2.6, an Investor includes any Affiliates or general or limited partners of such Investor if so designated by such
Investor in writing. A Major Investor shall be entitled to apportion the right of first offer 

  
 13 

 
hereby granted it among itself and its partners and Affiliates in such proportions as it deems appropriate. 

(a) If the Company proposes to issue any Equity Securities, it shall give each Major Investor written notice of its intention, describing the
Equity Securities, the price and the material terms and conditions upon which the Company proposes to issue the same. Each Major Investor shall have twenty (20) calendar days from the giving of such notice to agree to purchase its pro
rata share of the Equity Securities for the price and upon the terms and conditions specified in the notice by giving written notice to the Company and stating therein the quantity of Equity Securities to be purchased. Notwithstanding the
foregoing, the Company shall not be required to offer or sell such Equity Securities to any Major Investor who would cause the Company to be in violation of applicable federal securities laws by virtue of such offer or sale. Each Investor’s
pro rata share of such Equity Securities is equal to the ratio of (a) the number of shares of the Company’s Common Stock (including all shares of Common Stock issued or issuable upon conversion of the options, warrants or
Preferred Stock) which such Investor is deemed to be a holder immediately prior to the issuance of such Equity Securities to (b) the total number of shares of the Company’s outstanding Common Stock (including all shares of Common Stock
issued or issuable upon conversion of the options, warrants or Preferred Stock) immediately prior to the issuance of the Equity Securities. 

(b) If not all of the Major Investors elect to purchase their pro rata share of the Equity Securities, then the Company shall
promptly notify in writing the Major Investors who do so elect and shall offer such Major Investors the right to acquire such unsubscribed shares. The Major Investors shall have five (5) days after receipt of such notice to notify the Company
of its election to purchase all or a portion thereof of the unsubscribed shares. If the Major Investors fail to exercise in full the rights of first refusal, the Company shall have ninety (90) days thereafter to sell the Equity Securities in
respect of which the Major Investor’s rights were not exercised, at a price and upon general terms and conditions materially no more favorable to the purchasers thereof than specified in the Company’s notice to the Major Investors pursuant
to Section 2.6(a) hereof. If the Company has not sold such Equity Securities within ninety (90) days of the notice provided pursuant to Section 2.6(a), the Company shall not thereafter issue or sell any Equity Securities, without
first offering such securities to the Major Investors in the manner provided above. 
 (c) The rights of first refusal established by this
Section 2.6 shall not apply to, and shall terminate upon the earlier of (i) effective date of the registration statement pertaining to the Company’s initial public offering or (ii) a Change in Control. The rights of first refusal
established by this Section 2.6 may be amended, or any provision waived, with the written consent of Major Investors holding a majority of the Registrable Securities held by all Major Investors. The rights of first refusal of each Major Investor
under this Section 2.6 may be transferred to the same parties, subject to the same restrictions as any transfer of registration rights pursuant to Section 1.13. 

(d) The rights of first refusal established by this Section 2.6 shall have no application to any of the following Equity Securities: 

(i) shares of Common Stock (and/or options, warrants or other 

  
 14 

 
Common Stock purchase rights issued pursuant to such options, warrants or other rights) issued or to be issued after the date hereof to employees, officers or directors of, or consultants or
advisors to, the Company or any subsidiary, pursuant to stock purchase or stock option plans or other arrangements that are approved by the Board of Directors; 

(ii) stock issued pursuant to (A) any options, warrants, rights or other agreements outstanding as of the date of this Agreement, and
(B) stock issued pursuant to any options, warrants, rights or agreements granted after the date of this Agreement, provided that the rights of first refusal established by this Section 2.6 applied with respect to the initial sale or grant by
the Company of such subsequent rights or agreements; 
 (iii) the issuance of securities pursuant to a registration statement filed under
the Act; 
 (iv) the issuance of securities pursuant to the conversion of the Company’s Preferred Stock; 

(v) the issuance of securities for consideration other than cash in connection with a bona fide business acquisition of or by the Company,
whether by merger, consolidation, sale of assets, sale or exchange of stock or otherwise; 
 (vi) the issuance of securities pursuant to
any equipment leasing or loan arrangement, or debt financing from a bank or similar financial or lending institution; 
 (vii) shares of
Common Stock issued in connection with any stock split, stock dividend or recapitalization by the Company; 
 (viii) the issuance of
securities in connection with strategic transactions involving the Company and other entities including (a) joint ventures, manufacturing, marketing or distribution arrangements or (b) technology transfer or development arrangements; and

 (ix) the issuance of shares of Series G Preferred Stock pursuant to the Purchase Agreement (as the same may be amended from time to
time). 
 2.7 Positive Covenants. So long as not less than ten percent (10%) of the Registrable Securities is still outstanding,
the Company agrees as follows: 
 (a) The Company will keep its properties and those of its subsidiaries in good repair, working order, and
condition, reasonable wear and tear excepted, and from time to time make all needful and proper repairs, renewals, replacements, additions, and improvements thereto; and the Company and its subsidiaries will at all times comply with the provisions
of all material leases to which any of them is a party or under which any of them occupies property so as to prevent any loss or forfeiture thereof or thereunder; 

(b) The Company will maintain true books and records of account in which full and correct entries will be made of all its business
transactions pursuant to a system of accounting established and administered in accordance with generally accepted accounting 

  
 15 

 
principles consistently applied, and will set aside on its books all such proper accruals and reserves as shall be required under generally accepted accounting principles consistently applied.

 (c) The Company shall maintain in full force and effect its corporate existence, rights, and franchises and all licenses and other
rights to use patents, processes, licenses, trademarks, trade names, or copyrights owned or possessed by it or any subsidiary and deemed by the Company to be necessary to the conduct of its business. 

(d) The Company’s Articles of Incorporation and Bylaws shall provide (a) for elimination of the liability of director to the
maximum extent permitted by law and (b) for indemnification of directors for acts on behalf of the Company to the maximum extent permitted by law. The Company will indemnify members of the Board of Directors to the broadest extent permitted by
applicable law. 
 2.8 Termination of Covenants. The covenants set forth in Section 2.7 shall terminate and be of no further
force or effect upon the consummation of the sale of securities pursuant to a registration statement filed by the Company under the Act in connection with the firm commitment underwritten offering of its securities to the general public. 

2.9 Indemnification and Advancement. 

(a) The Company hereby agrees to hold harmless and indemnify the Investors, the Investors’ direct and indirect subsidiaries, Affiliated
Entities and corporations, and each of their partners, officers, directors, employees, stockholders, agents, and representatives (collectively, referred to as the “Investor Indemnitees”) against any and all expenses (including
attorneys’ fees), damages, judgments, fines, amounts paid in settlements, or any other amounts that an Investor Indemnitee incurs as a result of any claim or claims made against it in connection with any threatened, pending or completed action,
suit, arbitration, investigation or other proceeding arising out of, or relating to the Investors’ actions in connection with any transaction undertaken in connection with this Agreement; provided, however, that no Investor Indemnitee shall be
entitled to be held harmless or indemnified by the Company for acts, conduct or omissions as to which there has been a final adjudication that such Investor Indemnitee engaged in intentional misconduct or in knowing and culpable violation of the
law. 
 (b) The Company shall reimburse, promptly following request therefor, all reasonable expenses incurred by an Investor Indemnitee in
connection with any threatened, pending or completed action, suit, arbitration, investigation or other proceeding arising out of, or relating to, the Investors’ actions in connection with any transaction undertaken in connection with this
Agreement, provided, however, that no Investor Indemnitee shall be entitled to reimbursement in connection with acts, conduct or omissions as to which there has been a final adjudication that such Investor Indemnitee engaged in intentional
misconduct, in knowing and culpable violation of the law. 
 (c) The Company’s indemnity obligations set forth above are subject to
the Investors providing prompt written notice of a claim. The Company shall control the defense of any such action and, at its discretion, may enter into a stipulation of discontinuance or settlement thereof; provided that the Company may not
discontinue any action or settle any claim 

  
 16 

 
in a manner that does not unconditionally release the Investors without the Investors’ prior written approval. The Investors shall, at the Company’s expense and reasonable request,
cooperate with the Company in any such defense and shall make available to the Company at the Company’s expense all those persons, documents (excluding attorney/client or attorney work product materials) reasonably required by the Company in
the defense of any such action. The Investors may, at their expense, assist in such defense. 
 (d) The Company’s liability to any
Investor Indemnitee under this section shall be limited to the amount received by the Company from such Investor Indemnitee, and the Company’s aggregate cumulative liability under this Section shall be limited to the amount received by the
Company pursuant to the transaction contemplated by this Agreement. 
 3. Miscellaneous. 

3.1 Successors and Assigns. Except as otherwise expressly provided herein, the provisions hereof shall inure to the benefit of, and be
binding upon, the successors, assigns, heirs, executors, and administrators of the parties hereto and shall inure to the benefit of and be enforceable by each person who shall be a holder of Registrable Securities from time to time; provided,
however, that prior to the receipt by the Company of adequate written notice of the transfer of any Registrable Securities specifying the full name and address of the transferee, the Company may deem and treat the person listed as the holder of
such shares in its records as the absolute owner and holder of such shares for all purposes, including the payment of dividends or any redemption price. Nothing in this Agreement, express or implied, is intended to confer upon any party other than
the parties hereto or their respective successors and assigns any rights, remedies, obligations, or liabilities under or by reason of this Agreement, except as expressly provided in this Agreement. 

3.2 Survival. The representations, warranties, covenants, and agreements made herein shall survive any investigation made by any Holder
and the closing of the transactions contemplated hereby. All statements as to factual matters contained in any certificate or other instrument delivered by or on behalf of the Company pursuant hereto in connection with the transactions contemplated
hereby shall be deemed to be representations and warranties by the Company hereunder solely as of the date of such certificate or instrument. 

3.3 Governing Law. This Agreement shall be governed by and construed under the laws of the State of California as applied to agreements
among California residents entered into and to be performed entirely within California. 
 3.4 Counterparts. This Agreement may be
executed in two or more counterparts, each of which shall be deemed an original, but all of which together shall constitute one and the same instrument. 

3.5 Titles and Subtitles. The titles and subtitles used in this Agreement are used for convenience only and are not to be considered in
construing or interpreting this Agreement. 
 3.6 Notices. All notices required or permitted hereunder shall be in writing and shall
be deemed effectively given: (i) upon personal delivery to the party to be notified, (ii) 

  
 17 

 
when sent by confirmed telex or facsimile if sent during normal business hours of the recipient, if not, then on the next business day; (iii) five (5) days after having been sent by
registered or certified mail, return receipt requested, postage prepaid; or (iv) one (1) day after deposit with a nationally recognized overnight courier, specifying next day delivery, with written verification of receipt. All
communications shall be sent (i) if to the Company, at the address as set forth on the signature page hereof, (ii) if to any other party hereto, at the address for such party as set forth on Schedule A hereto or (iii) at such
other address as such party may designate by ten (10) days advance written notice to the other parties hereto. 
 3.7 Expenses.
If any action at law or in equity is necessary to enforce or interpret the terms of this Agreement, the prevailing party shall be entitled to reasonable attorneys’ fees, costs and necessary disbursements in addition to any other relief to which
such party may be entitled. 
 3.8 Amendments and Waivers. Any term of this Agreement may be amended and the observance of any term
of this Agreement may be waived (either generally or in a particular instance and either retroactively or prospectively), only with the written consent of the Company and the holders of a majority of the Registrable Securities then outstanding. Any
amendment or waiver effected in accordance with this paragraph shall be binding upon each holder of any Registrable Securities then outstanding, each future holder of all such Registrable Securities, and the Company. 

3.9 Severability. If one or more provisions of this Agreement are held to be unenforceable under applicable law, such provision shall
be excluded from this Agreement and the balance of the Agreement shall be interpreted as if such provision were so excluded and shall be enforceable in accordance with its terms. 

3.10 Aggregation of Stock. All shares of Registrable Securities held or acquired by Affiliated Entities or persons shall be aggregated
together for the purpose of determining the availability of any rights under this Agreement. 
 3.11 Delays and Omissions. It is
agreed that no delay or omission to exercise any right, power, or remedy accruing to any Holder, upon any breach, default or noncompliance of the Company under this Agreement shall impair any such right, power, or remedy, nor shall it be construed
to be a waiver of any such breach, default or noncompliance, or any acquiescence therein, or of any similar breach, default or noncompliance thereafter occurring. It is further agreed that any waiver, permit, consent, or approval of any kind or
character on any Holder’s part of any breach, default or noncompliance under the Agreement or any waiver on such Holder’s part of any provisions or conditions of this Agreement must be in writing and shall be effective only to the extent
specifically set forth in such writing. All remedies, either under this Agreement, by law, or otherwise afforded to Holders, shall be cumulative and not alternative. 

3.12 Entire Agreement. This Agreement (including the Schedules hereto) constitutes the full and entire understanding and agreement
between the parties with regard to the subjects hereof and thereof. 

  
 18 

 3.13 Amendment and Restatement of Prior Agreement. This Agreement amends and restates the
Prior Agreement and all amendments thereto through the date hereof. 
 3.14 No Third Party Beneficiaries. The Company and the
Investors intend that the benefits of this Agreement shall inure only to the Company and the Investors and not to any third person except as expressly so stated herein. 

3.15 Additional Investors. Notwithstanding anything to the contrary contained herein, if the Company shall issue additional shares of
its Series G Preferred Stock pursuant to the Purchase Agreement (as the same may be amended from time to time), any purchaser of such shares of Series G Preferred Stock may become a party to this Agreement by executing and delivering an additional
counterpart signature page to this Agreement and shall be deemed an “Investor” hereunder. 
 [REMAINDER OF PAGE INTENTIONALLY LEFT
BLANK] 

  
 19 

 IN WITNESS WHEREOF, the parties hereto have caused this Fourth Amended and Restated
Investors’ Rights Agreement to be duly executed and delivered by their proper and duly authorized representatives as of the date first above written. 
  

			
	“COMPANY” 
	
	AIRGAIN, INC.
		
	By:	 	 /s/ Pertti Visuri

		 	Pertti Visuri, President
	
	1930 Palomar Pointe Way, Suite 107
	Carlsbad, CA 92008
	Attention: President
	
	“INVESTORS”
	
	[(Execution of this Agreement by the Investors will be pursuant to separate Purchaser Signature Pages or Rights Holder Signature Pages)]

 [SIGNATURE PAGE TO FOURTH AMENDED AND RESTATED INVESTORS’ RIGHTS AGREEMENT] 

 SCHEDULE A 

INVESTORS 
 Updated as of
December 22, 2009 

 

 T. Stanton Armour Trust 

111 West Monroe Street 16-W 
 Chicago, IL 60603 

Michael K. Armstrong 
 4623 5th Street 
 Lubbock, TX 79416 

Charles H. Black 
 525 Alma Real Drive 

Pacific Palisades, CA 90272 
 Matthew Botica 

c/o Winston & Strawn 
 35 West Wacker Drive, Suite 4000

 Chicago, IL 60601 
 Michael L. Bruner 

339 Garcia Avenue 
 Half Moon Bay, CA 94019-1886 

The 1997 Trust For Mark C.C. Buckland 
 Arthur Buckland, Trustee

 263 Elm Street 
 Concord, MA 01742 

Eunice Buckland and 
 Arthur Buckland JTWROS 

59 Pondview Drive 
 Merrimack, NH 03054 

Vincent Cainkar TOD Cathy M. Cainkar 
 6215 West 79th Street, Suite A 
 Burbank, IL 60459 

Louis F. Cainkar, Ltd. Profit Sharing Plan 
 FBO Vincent Cainkar

 6215 West 79th Street, Suite 2A 
 Burbank, IL 60459

 Louis F. Cainkar Ltd. Profit Sharing Plan 

f/b/o Vincent M. Cainkar TOD Cathy M. Cainkar 
 6215 West 79th Street 
 Burbank, IL 60459 

Cap Estate Corp. 
 Attn: Dennis Nardoni 

PO Box 381 
 Bradley, IL 60915 

The William Clayton Jr. Revocable Trust of 
 June 11, 1981

 William Clayton, Jr., Trustee 
 c/o Clayton Industries 

4213 N. Temple City Blvd. 
 El Monte, CA 91731 

The Barbara Cohn Revocable Living Trust 
 1921 Fox Hills Drive

 Los Angeles, CA 90025 
 Harry Colmery, Trustee 

Colmery Family Living Trust 
 300 Hot Springs Road Nbr. I-175 

Montecito, CA 93108 
 Harry Colmery 

300 Hot Springs Road Nbr. I-175 
 Montecito, CA 93108 

Corporate Advice Group 
 Attn: K.W. Morgan 

Woodbourne Hall, PO Box 3162 
 Road Town, Tortola 

British Virgin Islands 

 

  
 Schedule A to Fourth
Amended and Restated Investors’ Rights Agreement 
 Dated May 7, 2008 

  
 A-1 

 Arthur W. Coviello, Jr. 

c/o RSA Security, Inc. 
 174 Middlesex Turnpike 

Bedford, MA 01730 
 Joseph E. Davis 

33436 Carlbeth Dr. 
 Encino, CA 91436 

Ross C. Dickenson 
 10550 Wilshire Blvd., Unit 705 

Los Angeles, CA 90024 
 Paul J. Duggan 

9950 S. Longwood Drive 
 Chicago, IL 60643 

Francis X. Egan 
 1143 Ash Street 

Winnetka, IL 60093 
 Francis X. Egan IRA, Delaware Charter 

Guarantee & Trust Company, Trustee 
 c/o Terra Nova
Trading LLC 
 100 South Wacker Drive, Suite 1550 
 Chicago, IL
60606 
 John W. Egan 
 c/o Trungale, Egan &
Associates 
 8 S. Michigan Avenue, Suite 2310 
 Chicago, IL
60603 
 Peter Egan 
 550 Ash Street 

Winnetka, IL 60093 
 Lewis M. Eisenberg 

c/o Granite Capital International Group L.P. 
 126 East 56th Street, 25th Floor 
 New York, NY 10022-3613 

James P. Fitzgerald 
 c/o Legg Mason Wood Walker, Inc. 

1321 Plum Tree Lane, Suite 1285 
 Winnetka, IL 60093

 Gen 3 Partners, Inc. 

Attn: Haydar Diab 
 Ten Post Office Square, 9th Floor 
 Boston, MA 02109 

GEN3 Capital I, LP 
 c/o GEN3 Partners Inc. 

Attn: James K. Sims, Managing Director 
 Ten Post Office Square,
9/F 
 Boston, MA 02108 
 Genesis Partners Ltd. 3 

Attn: J. Peter Skirkanich 
 10620 Eton Way 

Vero Beach, FL 32963-9437 
 Gilbreath Family Ltd. 

Attn: James O. Gilbreath, Jr. 
 624 27th Street 
 Lubbock, TX 79404 

James O. Gilbreath, Jr. 
 624 27th Street 
 Lubbock, TX 79404 

Harris Bank, Trustee of the 
 Lynne Townsend Sprague Trust Dated

 8/28/63 FBO T. Brook Townsend III 
 Attn: Craig F. Hardwick

 111 West Monroe St. – 6W 
 Chicago, IL 60603 

Harris Bank, Trustee of the 
 Lynne Townsend Sprague Trust Dated

 8/28/63 FBO Kenneth M. Townsend 
 Attn: Craig F. Hardwick

 111 West Monroe St. – 6W 
 Chicago, IL 60603 

Harris Bank, Trustee of the 
 Lynne Townsend Sprague Trust Dated

 8/28/63 FBO Shirley Butterworth 
 Attn: Craig F. Hardwick

 111 West Monroe St. – 6W 
 Chicago, IL 60603

 

  
 Schedule A to Fourth
Amended and Restated Investors’ Rights Agreement 
 Dated May 7, 2008 

  
 A-2 

 Roger P. Hickey 

c/o Chicago Partners 
 140 S. Dearborn, Suite 1500 

Chicago, IL 60603 
 John Hui 

c/o EM Holdings, Inc. 
 5 Hutton Center, Suite 830 

Santa Ana, CA 92707 
 Richard W. Jones 

442 S. Marengo Ave. 
 Pasadena, CA 91101 

Semyon Kogan 
 15 Philbrick Road 

Newton, MA 02459 
 Steven Korniczky 

c/o Paul Hastings 
 3579 Valley Centre Drive 

San Diego, CA 92130 
 Francis X. Lilly 

8900 Burdette Rd. 
 Bethesda, MD 20817 

William A. Lupien 
 6323 Dewey Drive 

Coeur D’Alene, ID 83814 
 Marlin Capital Corp. 

Attn: Mark Egan, President 
 737 N. Michigan Avenue, Suite 2200

 Chicago, IL 60611-2615 
 Richard A. McKay 

5242 Rosehill Court 
 Reno, NV 89502-9521 

MHJ Holdings Co. 
 Attn: Michael H. Jordan, President 

1357 Prospect Rd. 
 Pittsburgh, PA 15227-1430

 Mark D. Mitchell 

8430 Gross Point Rd. 
 Skokie, IL 60077 

Morgan Stanley DW Inc. 
 Cust. For John Grillos IRA Rollover 

Attn: Ronald Mullins 
 245 Lytton Avenue, Suite 200 

Palo Alto, CA 94301 
 The Murray Family Group L.P. 

Attn: R. Michael Murray, Jr. 
 11 Kent Road 

Winnetka, IL 60093 
 Nickelson Properties Limited Partnership

 1701 Highway A-1-A, Suite 218 
 Vero Beach, FL 32963 

Northrup Family Trust 
 Jack Northrup, Trustee 

411 North Bay Front 
 Balboa Island, CA 92662 

Northwater Intellectual Property Fund L.P. 1 
 c/o Northwater
Capital Management Inc. 
 Bay Wellington Tower, Suite 4700 

181 Bay Street 
 P.O. Box 794 

Toronto, Ontario 
 Canada M5J2T3 

Michael D. O’Loughlin 
 2 S. 002 Country Club Lane 

Wheaton, IL 60187 
 Buford H. Ortale 

4410 Gerald Place 
 Nashville, TN 37205 

William Carl Pfluger 
 2133 Office Park Drive 

San Angelo, TX 76904 

 

  
 Schedule A to Fourth
Amended and Restated Investors’ Rights Agreement 
 Dated May 7, 2008 

  
 A-3 

 Stephen L. Schalk 

310 Main Street 
 Davenport, IA 52801 

Ralph E. Simon 
 11857 Woodhill Ct. 

Cupertino, CA 95014 
 James K. Sims 

10680 Eton Way 
 Vero Beach, FL 32963 

(with a copy to Gen3 Partners, Ten Post Office Square, 
 9th Floor, Boston, MA 02109, Attn: Haydar Diab) 
 J. Peter Skirkanich 

10620 Eton Way 
 Vero Beach, FL 32963-9437 

Charles R. Stuckey, Jr. 
 121 Woodbine Rd. 

Carlisle, MA 01741 
 Roderick Thompson 

c/o Broadgate Growth Investments Ltd. 
 Attn: Rebecca Dunstan 

Grosvenor House 
 33 Church Street 

Hamilton, Bermuda HM12 
 Arthur M. Toscanini 

1414 Barlow Court 
 Palm Beach Gardens, FL 33410 

(with a copy to Gen3 Partners, Ten Post Office Square, 
 9th Floor, Boston, MA 02109, Attn: Haydar Diab) 
 Michael Treacy 

1184 South Street 
 Needham, MA 02492

 The George R. Tuerk Trust 

330 Arden Ave., Suite 200 
 Glendale, CA 91203 

Robert P. Wayman 
 26220 Moody Road 

Los Altos Hills, CA 94022 
 John P. Williams 

1420 Park Place 
 San Marino, CA 91108

 

  
 Schedule A to Fourth
Amended and Restated Investors’ Rights Agreement 
 Dated May 7, 2008 

  
 A-4

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