Document:

Loan Agreement, dated January 29, 2010

 Exhibit 10.46 

LOAN AGREEMENT 

Dated as of January 29, 2010 

by and between 

AGILITY CAPITAL, LLC 

as Agility 

and 

GIGOPTIX, INC. 

and 

CHIPX, INCORPORATED 

(Individually, a “Borrower” and, collectively, as “Borrowers”) 

TOTAL CREDIT AMOUNT: Up to $500,000 
  

			
	Maturity Date:	  	December 1, 2010
	Formula:	  	None
	Facility Origination Fee:	  	$20,000
	Interest:	  	14% fixed per annum
	Warrants:	  	Common Stock

 The information set forth above is subject to
the terms and conditions set forth in the balance of this Agreement. The parties agree as follows: 
  

 

	**	Confidential treatment has been requested for portions of this exhibit. The copy filed herewith omits information subject to the confidentiality request. Omissions are
designated with brackets containing two asterisks “[ ** ]”. As part of our confidential treatment request, a complete version of this exhibit has been filed separately with the Securities and Exchange Commission.

  

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 1.    Advance and Payments. 

(a)    Advance. Borrowers may request one advance of up to $500,000 (the “Advance”) on the date of
this Agreement (the “Closing Date”). Agility’s obligation to make the Advance is subject to (i) Agility’s determination, in its sole discretion, that there has not occurred a circumstance or circumstances that have a
Material Adverse Effect, (ii) receipt of an Unconditional Guaranty from each of Lumera Corporation; Gigoptix, LLC; Gigoptix Helix AG; Gigoptix (Israel) Ltd.; and ChipX UK Limited; (iii) receipt of a good standing certificate issued by the
Secretary of State of a Borrower’s state of incorporation and state of such Borrower’s principal place of business; (iv) receipt of a UCC search form the Secretary of State of each Borrower and Guarantor showing no encumbrances on the
Collateral other than for the benefit of Senior Lender; and (v) the execution, delivery and filing of such instruments and agreements as Agility deems appropriate, including, but not limited to, an intercreditor agreement with Bridge Bank,
National Association (“Senior Lender”) and account control agreements. 
 (b)    Interest;
Payments. Borrowers shall pay interest on the outstanding principal balance of the Advance at a fixed rate per annum equal to Fourteen Percent (14.0%). Interest shall be calculated on the basis of a 360-day year for the actual number of days
elapsed, shall accrue from the date of the Advance and continue until the Advance has been repaid, and shall be payable in arrears on the first day of each month until the Advance has been repaid. Beginning March 1, 2010, and on the first day
of each month thereafter, Borrowers shall pay to Agility, $50,000 plus accrued but unpaid interest. On the Maturity Date, all amounts outstanding under this Agreement shall be due and payable. Any partial month shall be prorated on the basis of a
30-day month based on the actual number of days outstanding. Borrowers may prepay all or any part of the Advance without penalty or premium, but may not reborrow any amount repaid. Any prepayment shall be applied first to interest, then to principal
installments in reverse order of maturity. 
 (c)    Fees. On the Closing Date, Borrowers shall pay
to Agility an origination fee of $20,000, plus an amount equal to all expenses incurred by Agility through the Closing Date, including attorney fees, underwriting costs and expenses in excess of the $7,500 deposit previously paid to Agility. After
the Closing Date, Borrowers shall pay Agility an amount equal to all expenses, including attorney fees and expenses, as and when incurred by Agility, in connection with the maintenance of the Collateral, Agility’s security interest therein, and
enforcement of Agility’s rights under the Loan Documents. 
 (d)    Warrants. Gigoptix, Inc. is
concurrently issuing to Agility a Warrant to Purchase Stock on the terms and conditions set forth therein (the “Warrant”). 

(e)    Maturity Date. All amounts outstanding hereunder are due and payable on December 1, 2010 (the
“Maturity Date”). 
 (f)    Default Fee. After the occurrence of an Event of Default, the
Obligations shall bear interest at a rate equal to 5% above the rate that would otherwise apply. In addition, upon the occurrence of’ such Event of Default, Borrowers shall pay to Agility a fee of $5,000, and an additional $5,000 on each
thirtieth day thereafter for so long as the Event of Default continues. The terms of this paragraph shall not be construed as Agility’s consent to Borrowers’ failure to pay any amounts in strict accordance with this Agreement, and
Agility’s charging any such fees and/or acceptance of any such payments shall not restrict Agility’s exercise of any remedies arising out of any such failure. 

2.    Security Interest. As security for all present and future indebtedness, guarantees, liabilities, and
other obligations of Borrowers to Agility under this Agreement, including all fees specified in Section 1 (collectively, the “Obligations”), each Borrower grants Agility a security interest in all of such Borrower’s personal
property, whether now owned or hereafter acquired, including without limitation the property described on Exhibit A attached hereto, and all products, proceeds and insurance proceeds of the foregoing (collectively, the “Collateral”).
Borrowers authorize Agility to execute such documents and take such actions as Agility reasonably deems appropriate from time to time to perfect or continue the security interest granted hereunder. 

3.    Representations, Warranties and Covenants. Each Borrower represents to Agility as follows (which shall
be deemed continuing throughout the term of this Agreement): 
  

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 (a)    Authorization. The execution, delivery and performance by
Borrower of this Agreement, and all other documents contemplated hereby have been duly and validly authorized by all necessary corporate action, and do not violate Borrower’s Certificate of Incorporation or by-laws, or any law or any material
agreement or instrument which is binding upon Borrower or its property. 
 (b)    State of Incorporation;
Places of Business; Locations of Collateral. Borrower is and will continue to be, duly organized, validly existing and in good standing under the laws of the jurisdiction of its incorporation. Borrower is and will continue to be qualified and
licensed to do business in all jurisdictions in which it is required to do so. The address set forth in this Agreement under Borrower’s signature is Borrower’s chief executive office. Other than the chief executive office, the Collateral
is located at the address(es) set forth on Exhibit B. 
 (c)    Title to Collateral; Permitted
Liens. Borrower is now, and will at all times in the future be, the sole owner of all the Collateral. The Collateral now is and will remain free and clear of any and all liens, security interests, encumbrances and adverse claims, except for
(i) the lien in favor of Senior Lender securing the Permitted Senior Debt; (ii) purchase money security interests in specific items of Equipment; (iii) leases of specific items of Equipment; (iv) liens for taxes, fees,
assessments or other governmental charges or levies, either not delinquent or being contested in good faith by appropriate proceedings, provided the same have no priority over any of Agility’s security interests; (v) liens of materialmen,
mechanics, warehousemen, carriers, or other similar liens arising in the ordinary course of business and securing obligations that are not delinquent; and (vi) the liens set forth on Exhibit B. 

(d)    Financial Condition, Statements and Reports. The financial statements provided to Agility have been
prepared in accordance with generally accepted accounting principles, consistently applied (“GAAP”). All financial statements now or in the future delivered to Agility will fairly reflect the financial condition of Borrowers, at the times
and for the periods therein stated. Between the last date covered by any such statement provided to Agility and the date hereof, there has been no circumstance that could constitute or give rise to a Material Adverse Effect. Each Borrower has timely
filed, and will timely file, all tax returns and reports required by applicable law, and such Borrower has timely paid, and will timely pay, all applicable taxes, assessments, deposits and contributions now or in the future owed by such Borrower.

 (e)    Compliance with Law. Borrower has complied, and will comply, in all material respects, with
all provisions of all applicable laws and regulations. 
 (f)    Information. All information
provided to Agility by or on behalf of a Borrower is true and correct in all material respects, and no representation or other statement made by Borrower to Agility contains any untrue statement of a material fact or omits to state a material fact
necessary to make any statements made to Agility not misleading at the time made. 
 (g)    Litigation.
Except as disclosed on Exhibit B, there is no claim or litigation pending or threatened against Borrower. Borrower will promptly inform Agility in writing of any claim or litigation in the future. 

(h)    Subsidiaries; Investments. Except as disclosed on Exhibit B, Borrower has no wholly-owned or
partially owned subsidiaries. Exhibit B sets forth all loans by Borrower to, and all investments by Borrower in, any person, entity, corporation partnership or joint venture. 

(i)    Deposit and Investment Accounts. Borrower maintains only the operating, savings, deposit, securities
and investment accounts listed on Exhibit B. On the Closing Date, Borrower shall enter into an account control agreement with Senior Lender on terms acceptable to Agility, By April 15, 2010, Borrower shall maintain all of its operating,
savings, and deposit accounts with Bridge Bank, provided Gigoptix (Israel) Ltd and Gigoptix Helix AG may each maintain an account that is not at Bridge Bank as long as the average monthly balance in each such account is less than US$200,000.

 4.    Other Covenants. 

 

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 (a)    Reports. Each Borrower will provide to Agility in form and
substance acceptable to Agility (i) as soon as available, but in any event within thirty (30) days after the end of each calendar month, a company prepared consolidated and consolidating balance sheet, income, and cash flow statement
covering such Borrower’s consolidated and consolidating operations during such period, prepared in accordance with GAAP, consistently applied; (ii) within fifteen (15) days after the last day of each month, copies of all reports and
statements received by a Borrower from any of its banks or other financial institutions (in lieu of such requirement, Borrower may grant Agility on-line “view only” access to all of its accounts on terms acceptable to Agility);
(iii) as soon as available, but in any event within five days of filing with the Securities and Exchange Commission, Form 10-K, including audited consolidated financial statements of Borrower prepared in accordance with GAAP, consistently
applied, together with an unqualified opinion (other than a going-concern opinion) on such financial statements of an independent certified public accounting firm; (iv) at the same time as provided to Senior Lender, copies of borrowing base
certificates, accounts receivables and accounts payable reports, and any other information provided to Senior Lender; and (v) upon request, such other information relating to Borrower’s operations and condition, including information on
the status of any acquisitions or equity investments or sales of Borrower’s securities, as Agility may reasonably request from time to time. Agility shall have the right to review and copy Borrower’s books and records and audit and inspect
the Collateral, from time to time, upon reasonable notice to Borrower. Agility or its officers, employees, or agents shall have a right to visit Borrower’s premises and interview Borrower’s officers at Borrower’s expense. 

(b)    Insurance. Each Borrower will maintain insurance on the Collateral and Borrower’s business, in
amounts and of a type that are customary to businesses similar to Borrower’s, and Agility will be named in a Agility’s loss payable endorsement in favor of Agility, in form reasonably acceptable to Agility. 

(c)    Senior Debt. Borrowers may incur indebtedness (the “Permitted Senior Debt”) from Senior
Lender up to a principal amount equal to the lesser of (i) $4,000,000 or (ii) 75% of the book value of Borrowers’ accounts receivable less than 90 days outstanding from invoice date owing from account debtors with a principal place of
business in the United States and 50% of the book value of Borrower’s accounts receivable less than 90 days outstanding from invoice date owing from account debtors with a principal place of business outside the United States. 

(d)    Negative Covenants. No Borrower shall do any of the following: (i) permit or suffer an Acquisition
or Change of Control that does not provide for immediate payment of all amounts outstanding under this Agreement; (ii) acquire any assets outside the ordinary course of business; (iii) sell, lease, license, encumber or transfer any of its
property except for sales of inventory in the ordinary course of business; (iv) pay or declare any dividends on Borrower’s stock; (v) redeem, purchase or otherwise acquire, any of Borrower’s stock, except for stock from
terminated employees or contractors, to the extent required or permitted under any employment or contractor agreements, in an aggregate amount not to exceed $50,000; (vi) make any investments in, or loans or advances to, any person, including
without limitation any investments in, or downstreaming of funds to, any subsidiary or affiliate of Borrower, provided Borrower may make up to $50,000 of such investments in persons other than Gigoptix (Israel) Ltd and Gigoptix Helix AG if made in
the ordinary course of business and investments in Gigoptix (Israel) Ltd and Gigoptix Helix AG without regard to a dollar limit if made in the ordinary course of business; (vii) incur any indebtedness, including any guaranties or other
contingent liabilities, other than (a) the Senior Debt, and (b) trade debt and capital lease obligations incurred in the ordinary course of business; (viii) make any deposits or investments into any investment or depository accounts
unless they are subject to an account control agreement acceptable to Agility, provided the accounts maintained by Gigoptix (Israel) Ltd and Gigoptix Helix AG permitted under Section 3(i) need not be subject to any such control agreement; or
(ix) agree to do any of the foregoing. 
 (e)    Board Meetings and Materials. Each Borrower
shall give Agility copies of all notices, minutes, consents and other materials the Borrower provides to its directors in connection with such meetings at the same time and in the same manner as it gives to its directors. 

5.    Events of Default. Any one or more of the following shall constitute an Event of Default under this
Agreement: 
 (a)    A Borrower shall fail to pay any principal of or interest due hereunder on the date
due; or 
  

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 (b)    A Borrower shall fail to comply with any other provision of this
Agreement (other than Section 4(d), as to which there is no cure period), which failure is not cured within thirty days after the sooner of (i) the date that Borrower has knowledge of that failure or (ii) Borrower’s receipt of
notice from Agility; or 
 (c)    Any warranty, representation, statement, report or certificate made or
delivered to Agility by a Borrower or on a Borrower’s behalf shall be untrue or misleading in a material respect as of the date given or made, or shall become untrue or misleading in a material respect after the date hereof; or 

(d)    An Event of Default shall occur under the Loan and Security Agreement between a Borrower and Senior Lender in
the form in effect as of the Closing Date; or a default or event of default occurs in any other agreement to which a Borrower is subject or by which a Borrower is bound (i) resulting in a right by the other party or parties, whether or not
exercised, to accelerate the maturity of any indebtedness or (ii) that could have a Material Adverse Effect, as defined below; or 

(e)    Any portion of a Borrower’s assets is attached, seized or levied upon, or a judgment for more than
$50,000 is awarded against Borrower and is not stayed within ten days; or 
 (f)    Dissolution or
termination of existence of a Borrower; or appointment of a receiver, trustee or custodian, for all or any material part of the property of, assignment for the benefit of creditors by, or the commencement of any proceeding by or against a Borrower
under any reorganization, bankruptcy, insolvency, arrangement, readjustment of debt, dissolution or liquidation law or statute of any jurisdiction, now or in the future in effect (except that, in the case of a proceeding commenced against a
Borrower, Borrower shall have 60 days after the date such proceeding was commenced to have it dismissed, provided Agility shall have no obligation to make any Loans during such period); or 

(g)    The occurrence of a “Material Adverse Effect”, which shall mean (i) a material adverse change
in the business, operations, results of operations, assets, liabilities or financial or other condition of a Borrower, (ii) the material impairment of a Borrower’s ability to perform its Obligations or of Agility’s ability to enforce
the Obligations or realize upon the Collateral, or (iii) a material adverse change in the value of the Collateral; or 

(h)    Borrower fails to close its account(s) with Wells Fargo Bank by February 15, 2010, its account(s) with
Comerica Bank by March 15, 2010 (other than an account with a balance of up to $550,000 that is pledged to support Borrower’s reimbursement obligation in connection with a letter of credit issued to Borrower’s landlord), and its
account(s) with Silicon Valley Bank by April 15, 2010; or 
 (i)    Any guaranty of all or a part of
the Obligations ceases for any reason to be in full force and effect, or any guarantor fails to perform any material obligation under any Guaranty, or any guarantor revokes or purports to revoke a Guaranty, or any material misrepresentation or
material misstatement exists now or hereafter in any warranty or representation set forth in any Guaranty, or any of the circumstances set forth in Section 5 occurs in respect of any guarantor. 

6.    Remedies. 

(a)    Remedies. Upon the occurrence of any Event of Default, Agility, at its option, may do any one or more
of the following: (a) Accelerate and declare the Obligations to be immediately due, payable, and performable; (b) Take possession of any or all of the Collateral wherever it may be found, and for that purpose each Borrower authorizes
Agility to enter such Borrower’s premises without interference to search for, take possession of, keep, store, or remove any of the Collateral, and remain on the premises or cause a custodian to remain on the premises in exclusive control
thereof, without charge by such Borrower for so long as Agility reasonably deems it necessary in order to complete the enforcement of its rights under this Agreement or any other agreement; provided, however, that should Agility seek to take
possession of any of the Collateral by Court process, such Borrower waives: (i) any bond and any surety or security relating thereto; (ii) any demand for possession prior to the commencement of any suit or action to recover possession
thereof; and (iii) any requirement that Agility retain possession of, and not dispose of, any such Collateral until after trial or final judgment; (c) Require Borrower to 

 

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assemble any or all of the Collateral and make it available to Agility at places designated by Agility; (d) Complete the processing of any Collateral prior to a disposition thereof and, for
such purpose and for the purpose of removal, Agility shall have the right to use Borrower’s premises, equipment and all other property without charge by Borrower; (e) Collect and dispose of and realize upon any investment property,
including withdrawal of any and all funds from any deposit or securities accounts; (f) Dispose of any of the Collateral, at one or more public or private sales, in lots or in bulk, for cash, exchange or other property, or on credit, and to
adjourn any such sale from time to time without notice other than oral announcement at the time scheduled for sale; and (g) Demand payment of, and collect any accounts, general intangibles or other Collateral and, in connection therewith, each
Borrower irrevocably authorizes Agility to endorse or sign Borrower’s name on all collections, receipts, instruments and other documents, and, in Agility’s good faith business judgment, to grant extensions of time to pay, compromise claims
and settle accounts, general intangibles and the like for less than face value; Borrower grants Agility a license, exercisable from and after an Event of Default has occurred, to use and copy any trademarks, service marks and other intellectual
property in which Borrower has an interest to effect any of the foregoing remedies. All reasonable attorneys’ fees, expenses, costs, liabilities and obligations incurred by Agility with respect to the foregoing shall be added to and become part
of the Obligations, and shall be due on demand. 
 (b)    Application of Proceeds. All proceeds
realized as the result of any sale or other disposition of the Collateral shall be applied by Agility first to the reasonable costs, expenses, liabilities, obligations and attorneys’ fees incurred by Agility in the exercise of its rights under
this Agreement, second to any fees and Obligations other than interest and principal, third to the interest due upon any of the Obligations, and fourth to the principal of the Obligations, in such order as Agility shall determine in its sole
discretion. Any surplus shall be paid to Borrower or other persons legally entitled thereto; Borrower shall remain liable to Agility for any deficiency. 

(c)    Remedies Cumulative. In addition to the rights and remedies set forth in this Agreement, Agility shall
have all the other rights and remedies accorded a secured party under the California Uniform Commercial Code and under all other applicable laws, and under any other instrument or agreement now or in the future entered into between Agility and a
Borrower, and all of such rights and remedies are cumulative and none is exclusive. Exercise or partial exercise by Agility of one or more of its rights or remedies shall not be deemed an election, nor bar Agility from subsequent exercise or partial
exercise of any other rights or remedies. The failure or delay of Agility to exercise any rights or remedies shall not operate as a waiver thereof, but all rights and remedies shall continue in full force and effect until all of the Obligations have
been fully paid and performed. 
 (d)    Power of Attorney. After the occurrence and during the
continuance of an Event of Default, each Borrower irrevocably appoints Agility (and any of Agility’s designated employees or agents) as such Borrower’s true and lawful attorney in fact to: endorse such Borrower’s name on any checks or
other forms of payment; make, settle and adjust all claims under and decisions with respect to Borrower’s policies of insurance; settle and adjust disputes and claims respecting accounts, general intangibles and other Collateral; execute and
deliver all notices, instruments and agreements in connection with the perfection of the security interest granted in this Agreement; sell, lease or otherwise dispose of all or any part of the Collateral; and take any other action or sign any other
documents required to be taken or signed by such Borrower, or reasonably necessary to enforce Agility’s rights or remedies or otherwise carry out the purposes of this Agreement The appointment of Agility as a Borrower’s attorney in fact,
and each of Agility’s rights and powers, being coupled with an interest, are irrevocable until all Obligations owing to Agility have been paid and performed in full. 

7.    Waivers. The failure of Agility at any time or times to require a Borrower to strictly comply with any
of the provisions of this Agreement or any other present or future agreement between a Borrower and Agility shall not waive or diminish any right of Agility later to demand and receive strict compliance therewith. Any waiver of any default shall not
waive or affect any other default, whether prior or subsequent, and whether or not similar. None of the provisions of this Agreement or any other agreement shall be deemed to have been waived except by a specific written waiver signed by an
authorized officer of Agility. Each Borrower waives demand, protest, notice of protest and notice of default or dishonor, notice of payment and nonpayment, release, compromise, settlement, extension or renewal of any commercial paper, instrument,
account, general intangible, document or guaranty at any time held by Agility on which a Borrower is or may in any way be liable, and notice of any action taken by Agility, unless expressly required by this Agreement. 

 

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 8.     Indemnity. Each Borrower shall indemnify Agility for any
costs or liabilities, including reasonable attorneys’ fees, incurred by Agility in connection with this Agreement, other for losses caused by Agility’s gross negligence or willful misconduct. 

9.    Confidentiality. In handling any confidential non-public information provided to Agility by a Borrower,
Agility shall exercise the same degree of care that it exercises with respect to its own proprietary information of the same types to maintain the confidentiality of the same, except that disclosure of such information may be made (i) to
subsidiaries or affiliates of Agility in connection with their present or prospective business relations with a Borrower, (ii) to prospective transferees or purchasers of any interest in the Obligations, provided that they have entered into a
comparable confidentiality agreement with respect thereto, (iii) as required by law, regulations, rule or order, subpoena, judicial order or similar order, (iv) as may be required in connection with the examination, audit or similar
investigation of Agility, and (v) as Agility may deem appropriate in connection with the exercise of any remedies hereunder. Confidential information shall not include information that either: (a) is in the public domain, or becomes part
of the public domain, after disclosure to Agility through no fault of Agility; or (b) is disclosed to Agility by a third party, provided Agility does not have actual knowledge that such third party is prohibited from disclosing such
information. 
 10.    Governing Law; Jurisdiction; Venue. This Agreement and all acts and
transactions hereunder and all rights and obligations of Agility and a Borrower shall be governed by the internal laws (and not the conflict of laws rules) of the State of California. As a material part of the consideration to Agility to enter into
this Agreement, each Borrower (i) agrees that all actions and proceedings relating directly or indirectly to this Agreement shall, at Agility’s option, be litigated in courts located within California, and that the venue therefor shall be
Santa Barbara County; (ii) consents to the jurisdiction and venue of any such court and consents to service of process in any such action or proceeding by personal delivery or any other method permitted by law; and (iii) waives any and all
rights Borrower may have to object to the jurisdiction of any such court, or to transfer or change the venue of any such action or proceeding, 

11.    MUTUAL WAIVER OF JURY TRIAL. EACH BORROWER AND AGILITY EACH WAIVE THE RIGHT TO TRIAL BY JURY IN ANY ACTION
OR PROCEEDING BASED UPON, ARISING OUT OF, OR IN ANY WAY RELATING TO, THIS AGREEMENT OR ANY OTHER PRESENT OR FUTURE INSTRUMENT OR AGREEMENT BETWEEN AGILITY AND A BORROWER, OR ANY CONDUCT, ACTS OR OMISSIONS OF AGILITY OR BORROWER OR ANY OF THEIR
DIRECTORS, OFFICERS, EMPLOYEES, AGENTS, ATTORNEYS OR ANY OTHER PERSONS AFFILIATED WITH AGILITY OR BORROWER, IN ALL OF THE FOREGOING CASES, WHETHER SOUNDING IN CONTRACT, TORT OR OTHERWISE. IF THIS JURY WAIVER IS FOR ANY REASON UNENFORCEABLE, THE
PARTIES AGREE TO RESOLVE ALL CLAIMS, CAUSES AND DISPUTES THROUGH JUDICIAL REFERENCE PURSUANT TO CODE OF CIVIL PROCEDURE SECTION 638 ET SEQ BEFORE A MUTUALLY ACCEPTABLE REFEREE SITTING WITHOUT A JURY OR, IF NO AGREEMENT ON THE REFEREE IS REACHED,
BEFORE A REFEREE SELECTED BY THE PRESIDING JUDGE OF THE CALIFORNIA SUPERIOR COURT FOR SANTA BARBARA COUNTY. THIS PROVISION SHALL NOT RESTRICT A PARTY FROM EXERCISING NONJUDICIAL REMEDIES UNDER THE CODE. 

12.    Co-Borrowers. GIGOPTIX, INC. and CHIPX, INCORPORATED are jointly and severally liable for the
Obligations and Agility may proceed against one Borrower to enforce the Obligations without waiving its right to proceed against the other Borrower. 

(a)    Primary Obligors. This Agreement and the Loan Documents are a primary and original obligation of each
Borrower and shall remain in effect notwithstanding future changes in conditions, including any change of law or any invalidity or irregularity in the creation or acquisition of any Obligations or in the execution or delivery of any agreement
between Agility and any Borrower. Each Borrower shall be liable for existing and future Obligations as fully as if all of the Advance was advanced to such Borrower. Agility may rely on any certificate or representation made by any Borrower as made
on behalf of, and binding on, all Borrowers. Each Borrower appoints each other Borrower as its agent with all necessary power and authority to give and receive notices, certificates or demands for and on behalf of both Borrowers, to act as
disbursing agent for receipt of any loans on behalf of each Borrower and to apply to Agility on behalf of each Borrower for the Advance, any waivers and any consents. This 
  

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 authorization cannot be revoked, and Agility need not inquire as to one Borrower’s authority to act for
or on behalf of another Borrower. 
 (b)    Subrogation and Similar Rights. Each Borrower irrevocably
waives, until all Obligations are satisfied, all rights that it may have at law or in equity (including, without limitation, any law subrogating the Borrower to the rights of Agility under the Loan Documents) to seek contribution, indemnification,
or any other form of reimbursement from any other Borrower, or any other Person now or hereafter primarily or secondarily liable for any of the Obligations, for any payment made by the Borrower with respect to the Obligations in connection with the
Loan Documents or otherwise and all rights that it might have to benefit from, or to participate in, any security for the Obligations as a result of any payment made by the Borrower with respect to the Obligations in connection with the Loan
Documents or otherwise. Any agreement providing for indemnification, reimbursement or any other arrangement prohibited under this Section shall be null and void. If any payment is made to a Borrower in contravention of this Section, such Borrower
shall hold such payment in trust for Agility and such payment shall be promptly delivered to Agility for application to the Obligations, whether matured or unmatured. 

(c)    Waivers of Notice. Each Borrower waives, to the extent permitted by law, notice of acceptance hereof;
notice of the existence, creation or acquisition of any of the Obligations; notice of an Event of Default except as set forth herein; notice of the amount of the Obligations outstanding at any time; notice of any adverse change in the financial
condition of any other Borrower or of any other fact that might increase the Borrower’s risk; presentment for payment; demand; protest and notice thereof as to any instrument; and all other notices and demands to which the Borrower would
otherwise be entitled by virtue of being a co-borrower or a surety. Each Borrower waives any defense arising from any defense of any other Borrower, or by reason of the cessation from any cause whatsoever of the liability of any other Borrower,
Agility’s failure at any time to require strict performance by any Borrower of any provision of the Loan Documents shall not waive, alter or diminish any right of Agility thereafter to demand strict compliance and performance therewith. Each
Borrower also waives any defense arising from any act or omission of Agility that changes the scope of the Borrower’s risks hereunder. Each Borrower hereby waives any right to assert against Agility any defense (legal or equitable), setoff,
counterclaim, or claims that such Borrower individually may now or hereafter have against another Borrower or any other Person liable to Agility with respect to the Obligations in any manner or whatsoever, 

(d)    Subrogation Defenses. Until all Obligations are paid in full and Agility has no further obligation to
make Credit Extensions to Borrowers, each Borrower hereby waives any defense based on impairment or destruction of its subrogation or other rights against any other Borrower and waives all benefits which might otherwise be available to it under
California Civil Code Sections 2809, 2810, 2819, 2839, 2845, 2848, 2849, 2850, 2899, and 3433 and California Code of Civil Procedure Sections 580a, 580b, 580d and 726, as those statutory provisions are now in effect and hereafter amended, and under
any other similar statutes now and hereafter in effect. 
 (e)    Right to Settle, Release.

 (i)    The liability of Borrowers hereunder shall not be diminished by (i) any agreement,
understanding or representation that any of the Obligations is or was to be guaranteed by another Person or secured by other property, or (ii) any release or unenforceability, whether partial or total, of rights, if any, which Agility may now
or hereafter have against any other Person, including another Borrower, or property with respect to any of the Obligations. 

(ii)    Without notice to any given Borrower and without affecting the liability of any given Borrower hereunder,
Agility may (i) compromise, settle, renew, extend the time for payment, change the manner or terms of payment, discharge the performance of, decline to enforce, or release all or any of the Obligations with respect to any other Borrower by
written agreement with such other Borrower, (ii) grant other indulgences to another Borrower in respect of the Obligations, (iii) modify in any manner any documents relating to the Obligations with respect to any other Borrower by written
agreement with such other Borrower, (iv) release, surrender or exchange any deposits or other property securing the Obligations, whether pledged by a Borrower or any other Person, or (v) compromise, settle, renew, or extend the time for
payment, discharge the performance of, decline to enforce, or release all or any obligations of any guarantor, endorser or other Person who is now or may hereafter be liable with respect to any of the Obligations. 

 

 8 

 (f)    Subordination. All indebtedness of a Borrower now or
hereafter arising held by another Borrower is subordinated to the Obligations and the Borrower holding the indebtedness shall take all actions reasonably requested by Agility to effect, to enforce and to give notice of such subordination.

 13.    General. This Agreement and such other written agreements, documents and instruments as may
be executed in connection herewith are the final, entire and complete agreement between Borrowers and Agility and supersede all prior and contemporaneous negotiations and oral representations and agreements, all of which are merged and integrated in
this Agreement. There are no oral understandings, representations or agreements between the parties which are not set forth in this Agreement or in other written agreements signed by the parties in connection herewith. The terms and provisions of
this Agreement may not be waived or amended, except in a writing executed by each Borrower and Agility. Agility may assign all or any part of its interest in this Agreement and the Obligations to any person or entity, or grant a participation in, or
security interest in, any interest in this Agreement, without notice to, or consent of, Borrowers, No Borrower may not assign any rights under or interest in this Agreement. This Agreement may be executed in two or more counterparts, each of which
shall be deemed an original, but all of which shall constitute one agreement. 
 14.    Publicity.
Each Borrower authorizes Agility to use such Borrower’s tradenames and logos in Agility’s marketing materials in respect of the transactions evidenced by this Agreement. 

[SIGNATURE PAGE FOLLOWS.] 
  

 9 

									
	AGILITY CAPITAL, LLC	 		 	GIGOPTIX, INC.
					
	By:	 	 	 		 	By:	 	 
					
	Title:	 	 	 		 	Title:	 	 
				
		 		 		 	CHIPX, INCORPORATED
					
		 		 		 	By:	 	 
					
		 		 		 	Title:	 	 
			
	 Address for notices:
  

Agility Capital, LLC
 812 Anacapa Street, Suite A

 Santa Barbara, CA 93101
 Attn: Daniel
Corry
 Fax: 805-568-0427
	 		 	 Address for notices:
  

2300 Geng Road, Suite 250
 Palo Alto, CA 94303

 Attn: Avi Katz, CEO
 Fax:
650-391-2623

  

 10 

 EXHIBIT A 

COLLATERAL DESCRIPTION ATTACHMENT 

TO LOAN AND SECURITY AGREEMENT 

All personal property of a Borrower (herein referred to as “Borrower” or “Debtor”) whether presently existing or
hereafter created or acquired, and wherever located, including, but not limited to: 
 (a)    all accounts
(including health-care-insurance receivables), chattel paper (including tangible and electronic chattel paper), deposit accounts, documents (including negotiable documents), equipment (including all accessions and additions thereto), general
intangibles (including copyrights, patents, trademarks, goodwill and all intellectual property, payment intangibles and software), goods (including fixtures), instruments (including promissory notes), inventory (including all goods held for sale or
lease or to be furnished under a contract of service, and including returns and repossessions), investment property (including securities and securities entitlements), letter of credit rights, money, and all of Debtor’s books and records with
respect to any of the foregoing, and the computers and equipment containing said books and records; all commercial tort claims; and 

(b)    any and all cash proceeds and/or noncash proceeds of any of the foregoing, including, without limitation,
insurance proceeds, and all supporting obligations and the security therefor or for any right to payment. All terms above have the meanings given to them in the California Uniform Commercial Code, as amended or supplemented from time to time.

 Notwithstanding the foregoing, the collateral description above does not include more than 65% of the presently existing and hereafter
arising issued and outstanding shares of capital stock owned by Borrower of any foreign subsidiary, which shares entitle the holder thereof to vote for directors or any other matter. 

 

 11 

 EXHIBIT B 

Places of Business and Locations of Collateral (Section 3(b)): 
  

	1.	2400 Geng Road, Suite 100, Palo Alto, CA 94303 

  

	2.	19910 North Creek Parkway, Bothell, WA 98011 

  

	3.	Seefeldstrasse 45, 8008 Zürich , Switzerland 

  

	4.	Advanced Technology Center, Haifa, 31905, Israel 

Permitted Liens (Section 3(c)): 

Litigation (Section 3(g)): 
 [ **
] 
  
  

	**	Certain information on this page has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with
respect to the omitted portions. 

 Subsidiaries and partnerships and joint ventures (Section 3(h)): 

 

	1.	ChipX, Inc. 

  

	2.	Lumera Corporation 

  

	3.	GigOptix-Helix AG 

  

	4.	ChipX UK Ltd. 

  

	5.	GigOptix (Israel) LTD 

 Investments and
intercompany accounts with subsidiaries: 
 GigOptix investment in GigOptix-Helix $1,120k 

GigOptix investment in ChipX – $12,393k 

ChipX investment in GigOptix Israel (formerly Chip Express Israel) and ChipX UK – $15,855k 

GigOptix intercompany receivable from GigOptix-Helix – $293k 

GigOptix intercompany receivable from ChipX – $1,294k 

Accounts (Section 3(i)) 
  

											
	 Bank Name
	 	Account Name	 	Account No.	 	Account Type	 	Country	 	Currency
	[**]	 	[**]	 	[**]	 	Checking	 	USA	 	USD
	[**]	 	[**]	 	[**]	 	Checking	 	USA	 	USD
	[**]	 	[**]	 	[**]	 	Checking	 	USA	 	USD
	[**]	 	[**]	 	[**]	 	Checking	 	USA	 	USD
	[**]	 	[**]	 	[**]	 	MoneyMkt	 	USA	 	USD
	[**]	 	[**]	 	[**]	 	[**]	 	USA	 	USD
	[**]	 	[**]	 	[**]	 	MoneyMkt	 	USA	 	USD
	[**]	 	[**]	 	[**]	 	ARLOC	 	USA	 	USD
	[**]	 	[**]	 	[**]	 		 	Switzerland	 	CHF
	[**]	 	[**]	 	[**]	 		 	Switzerland	 	EUR
	[**]	 	[**]	 	[**]	 		 	Switzerland	 	USD
	[**]	 	[**]	 	[**]	 		 	Switzerland	 	CHF
	[**]	 	[**]	 	[**]	 	Checking	 	USA	 	USD
	[**]	 	[**]	 	[**]	 	MoneyMkt	 	USA	 	USD
	[**]	 	[**]	 	[**]	 	MoneyMkt	 	USA	 	USD
	[**]	 	[**]	 	[**]	 	Checking	 	USA	 	USD
	[**]	 	[**]	 	[**]	 	Checking	 	USA	 	USD
	[**]	 	[**]	 	[**]	 	Checking	 	UK	 	GPD
	[**]	 	[**]	 	[**]	 	Checking	 	UK	 	GPD
	[**]	 	[**]	 	[**]	 		 	Israel	 	

  
  

	**	Certain information on this page has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with
respect to the omitted portions.Form of Time Option Agreement

 Exhibit 10.19 

SERENA SOFTWARE, INC. 

AMENDED AND RESTATED 2006 STOCK INCENTIVE PLAN 

STOCK OPTION GRANT NOTICE 

(Time Option) 

Serena Software, Inc. (the “Company”), pursuant to its Amended and Restated 2006 Stock Incentive Plan (as amended from
time to time, the “Plan”), hereby grants to the “Optionholder” identified below an Option to purchase the number of shares of the Company’s Common Stock (“Shares”) set forth below. This Option is
subject to all of the terms and conditions as set forth herein and in the Stock Option Agreement, the Management Stockholders Agreement, the Plan and the Notice of Exercise, all of which are incorporated herein in their entirety. 

Optionholder: 
 Date of Grant: 

Total Number of Shares Subject to Option: 

Exercise Price (Per Share): $ 
 Total Exercise
Price: $ 
 Expiration Date: 
  

					
	I.	  	Type of Grant:	 	Nonstatutory Stock Option
			
	II.	  	Exercise Schedule:	 	Same as Vesting Schedule

 III.
Vesting Schedule: Subject to the Optionholder’s Continuous Service on each applicable vesting date, 1/6th
 of the Shares subject to the Option shall vest on the six-month anniversary of the Date of Grant and an additional
1/36th of the Shares subject to the Option shall vest on
each monthly anniversary of the Date of Grant thereafter. 
 IV. Payment: By cash or check (unless otherwise permitted by the Board).

 V. Additional Terms/Acknowledgements: The undersigned Optionholder acknowledges receipt of, and understands and agrees to, this Grant
Notice, the Stock Option Agreement and the Plan. Optionholder further acknowledges that as of the Date of Grant, this Grant Notice, the Stock Option Agreement, the Management Stockholders Agreement and the Plan (collectively, the “Option
Agreements”) set forth the entire understanding between Optionholder and the Company regarding the acquisition of stock in the Company and supersede all prior oral and written agreements on that subject with the exception of
(i) options previously granted and delivered to Optionholder under the Plan (but only to the extent such options remain outstanding as of the date hereof), and (ii) the agreements, if any, listed below. 

 

											
	SERENA SOFTWARE, INC.	 	OPTIONHOLDER
					
	By:	 	  
	 		 	  
	 	
		 		 		 	Signature	 	
					
	Title:	 		 	Date:	 	  
	 	
					
	Date:	 		 		 		 	

 SPOUSAL CONSENT (if applicable): 

The undersigned spouse of Optionholder has read and hereby approves the terms and conditions of this Grant Notice and the Option
Agreements. In consideration of the Company granting his or her spouse the Option, the undersigned hereby agrees to be irrevocably bound by the terms and conditions of the Option Agreements and, if the undersigned resides in a community property
state, further agrees that any community property interest shall be similarly bound. 
  

			
	  

	Signature of Spouse
		
	Date:	 	  

		 	

  

 2 

 SERENA SOFTWARE, INC. 

AMENDED AND RESTATED 2006 STOCK INCENTIVE PLAN 

STOCK OPTION AGREEMENT 

(Time Option) 

Pursuant to your Stock Option Grant Notice (“Grant Notice”) and this Stock Option Agreement, Serena Software, Inc. (the
“Company”) has granted you a stock option under its Amended and Restated 2006 Stock Incentive Plan (as amended from time to time, the “Plan”) to purchase the number of shares of the Company’s Common Stock
indicated in your Grant Notice at the exercise price indicated in your Grant Notice. Capitalized terms not defined in this Stock Option Agreement or in the Grant Notice but defined in the Plan shall have the same definitions as in the Plan. For the
avoidance of doubt, the terms and conditions of the Grant Notice are a part of the Stock Option Agreement, unless otherwise specified. 

The details and terms and conditions of this Stock Option Agreement shall govern your Option, notwithstanding any less favorable terms
and conditions on the same matter set forth in the Plan (subject, however, to Section 15 hereof): 
 1.
Vesting. 
 (a) Subject to the limitations contained herein, your Option will vest as set forth in your Grant
Notice, provided that vesting will cease upon the termination of your Continuous Service. 
 (b) Notwithstanding any
provision of this Stock Option Agreement to the contrary, in the event of a Change in Control, the Option shall, to the extent not then vested and not previously cancelled, become fully vested and exercisable immediately prior to the consummation of
such Change in Control. 
 2. Number of Shares and Exercise Price. The number of shares of Common Stock subject to
your Option and your exercise price per share referenced in your Grant Notice may be adjusted from time to time for various adjustments in the Company’s equity capital structure, as provided in the Plan. 

3. Method of Payment. 

(a) Payment of the exercise price is due in full upon exercise of all or any part of your Option. You may elect to make payment of
the exercise price in cash or by check. Alternatively, provided that at the time of exercise there is a public market for the shares of Common Stock, your exercise may be implemented pursuant to a program developed under Regulation T as promulgated
by the Federal Reserve Board that, prior to the issuance of Common Stock, results in either the receipt of cash (or check) by the Company or the receipt of irrevocable instructions to pay the aggregate exercise price to the Company from the sales
proceeds. Notwithstanding the terms of the previous sentence, you may not be permitted to exercise your Option pursuant to a program developed under Regulation T as promulgated by the Federal Reserve Board if such exercise would violate the
provisions of Section 402 of the Sarbanes-Oxley Act of 2002. 
  

 3 

 (b) You may elect to make payment of the exercise price, in whole or in part, in
shares of Common Stock having a Fair Market Value equal to the amount of the aggregate exercise price or such portion thereof, as applicable; provided, however, that you must satisfy all such requirements as may be imposed by
the Board including without limitation that you have held such shares for not less than six months (or such other period as established from time to time by the Board in order to avoid a supplemental charge to earnings for financial accounting
purposes). 
 (c) Where you elect to pay the exercise price of an Option and/or taxes relating to the exercise of an
Option by delivering shares of Common Stock, you may, subject to procedures satisfactory to the Board, satisfy such delivery requirement by presenting proof that you are the Beneficial Owner of such shares of Common Stock, in which case the Company
shall treat the Option as exercised without further payment and shall withhold such number of shares from the Shares acquired by the exercise of the Option. 

(d) The Company may permit you to make payment of the exercise price in any other form of legal consideration that may be
acceptable to the Board in its sole discretion. 
 4. Whole Shares. You may exercise your Option only for whole
shares of Common Stock. 
 5. Compliance. 

(a) Securities Law Compliance. Notwithstanding anything to the contrary contained herein, you may not exercise your Option
unless the Shares of Common Stock issuable upon such exercise are then registered under the Securities Act or, if such Shares are not then so registered, the Company has determined that such exercise and issuance would be exempt from the
registration requirements of the Securities Act. The exercise of your Option must also comply with other applicable laws and regulations governing your Option, and you may not exercise your Option if the Company determines that such exercise would
not be in material compliance with such laws and regulations. 
 (b) Plan Compliance. Notwithstanding anything to
the contrary contained herein, you may not exercise your Option if the terms of the Plan do not permit the exercise of Options, or if the Company exercises its rights under the Plan to suspend, delay or restrict the exercise of Options. 

6. Term. You may not exercise your Option before the commencement of its term on the Date of Grant or after its term
expires. Subject to the provisions of the Plan and this Stock Option Agreement, you may exercise all or any part of the vested portion of the Option at any time prior to the earliest to occur of: 

(a) the date on which your Continuous Service is terminated for Cause; 

(b) three (3) months after you terminate your Continuous Service by resigning without Good Reason; 

(c) twelve (12) months after the termination of your Continuous Service without Cause or after you terminate
your Continuous Service by resigning for Good Reason; 
  

 4 

 (d) twelve (12) months after the termination of your Continuous
Service due to your Disability; 
 (e) twelve (12) months after the termination of your Continuous
Service due to your death; or 
 (f) the Expiration Date indicated in the Grant Notice. 

Notwithstanding the foregoing, if the exercise of your Option is prevented within the applicable time periods set forth in Sections
6(b), (c) or (d) for any reason, your Option shall not expire before the date that is thirty (30) days after the date that you are notified by the Company that the Option is again exercisable, but in any event no later than the
Expiration Date indicated in your Grant Notice. 
 7. Exercise Procedures. 

(a) Subject to Section 5 above and other relevant terms and conditions of the Plan and this Stock Option Agreement, you may
exercise the vested portion of your Option during its term by delivering a Notice of Exercise (in a form designated by the Company) together with the exercise price to the Company’s Chief Financial Officer, or to such other person as the
Company may designate, during regular business hours, together with such additional documents as the Company may then reasonably require. 

(b) By exercising your Option you agree that, as a condition to any exercise of your Option, the Company may require you to enter
into an arrangement providing for the payment by you to the Company of any tax withholding obligation of the Company (including any Affiliate) arising by reason of (i) the exercise of your Option, or (ii) other applicable events.

 (c) By exercising your Option you agree that, as a condition to any exercise of your Option, you and your spouse, if
requested by the Company, contemporaneously with the exercise of your Option and prior to the issuance of any certificate representing the Shares of Common Stock purchased upon the exercise of your Option, shall execute the Management Stockholders
Agreement, including any and all amendments to such agreement in effect at the time of such exercise. 
 (d) By
exercising your Option you agree that the Company (or a representative of the underwriter(s)) may, in connection with the first underwritten registration of the offering of any equity securities of the Company under the Securities Act (or any
underwritten registration of any securities of the Company prior to that time), require that for a specified period of time, you not sell, dispose of, transfer, make any short sale of, grant any option for the purchase of, or enter into any hedging
or similar transaction with the same economic effect as a sale, any shares of Common Stock or other securities of the Company held by you. You further agree to execute and deliver such other agreements as may be reasonably requested by the Company
and/or the underwriter(s) that are consistent with the foregoing or that are necessary to give further effect thereto. In order to enforce the foregoing covenant, the Company may impose stop transfer instructions with respect to your shares of
Common Stock until the end of such period. The underwriters of the Company’s stock are intended third party beneficiaries of this Section 7(d) and shall have the right, power and authority to enforce the provisions hereof as though they
were a party hereto. 
  

 5 

 (e) As a condition of any exercise of your Option, you and your spouse, if any, agree
that prior to the effectiveness of the first underwritten registration of the Company’s equity securities under the Securities Act, you shall not transfer any or all of the shares of Common Stock purchased upon exercise of your Option unless
permitted to do so under the terms of the Plan or the Management Stockholders Agreement. 
 8. Documents Governing
Issued Common Stock. Shares of Common Stock that you acquire upon exercise of your Option are subject to the terms of the Plan, the Company’s bylaws, the Company’s certificate of incorporation, any agreement relating to such shares of
Common Stock to which you become a party, or any other similar document. You should ensure that you understand your rights and obligations as a stockholder of the Company prior to the time that you exercise your Option. 

9. Limitations on Transfer of Options. Your Option is not transferable, except by will or by the laws of descent and
distribution, and is exercisable during your life only by you. Notwithstanding the foregoing, by delivering written notice to the Company, in a form satisfactory to the Company, you may designate a third party who, in the event of your death, shall
thereafter be entitled to exercise your Option. 
 10. Rights Upon Exercise. You will not have any rights to
dividends or other rights of a stockholder with respect to the Shares subject to the Option until you have given written notice of the exercise of the Option, paid in full for such Shares and, if applicable, satisfied any other conditions imposed by
the Board pursuant to the Plan. 
 11. Option Not a Service Contract. Your Option is not an employment contract,
and nothing in your Option shall be deemed to create in any way whatsoever any obligation on your part to continue in the employ or service of the Company or any of its Affiliates, or of the Company or any of its Affiliates to continue your
employment. In addition, nothing in your Option shall obligate the Company or any of its Affiliates, their respective stockholders, Boards of Directors, officers or employees to continue any relationship that you might have as a Director or
Consultant or otherwise for the Company or any of its Affiliates. 
 12. Withholding Obligations and Notice
Requirement. 
 (a) At the time you exercise your Option, in whole or in part, or at any time thereafter as requested
by the Company, you hereby authorize withholding from payroll and any other amounts payable to you, and otherwise agree to make adequate provision for (including by means of a “same day sale” program developed under Regulation T as
promulgated by the Federal Reserve Board to the extent permitted by the Company and applicable law, including, but not limited to, Section 402 of the Sarbanes-Oxley Act of 2002) any sums required to satisfy the federal, state, local and foreign
tax withholding obligations of the Company or any of its Affiliates, which arise in connection with your Option. 
 (b)
You may not exercise your Option unless the tax withholding obligations of the Company and/or any Affiliate are satisfied or appropriate arrangements (acceptable to the Company) are made therefor. 

13. Notices. Any notices provided for in your Option or the Plan shall be given in writing and shall be deemed effectively
given upon receipt, or in the case of notices delivered by mail to you, five (5) days after deposit in the United States mail (or with another delivery service), certified or registered mail, return receipt requested, postage prepaid, addressed
to you at the last address you provided to the Company. 
  

 6 

 14. Signature in Counterparts. This Stock Option Agreement may be signed in
counterparts, each of which shall be an original, with the same effect as if the signatures thereto and hereto were upon the same instrument. 

15. Option Subject to Plan Document. By entering into this Stock Option Agreement, you agree and acknowledge that you have
received and read a copy of the Plan and Management Stockholders Agreement. The Option is subject to the terms and provisions of the Plan and the Management Stockholders Agreement and such terms and provisions are hereby incorporated herein by
reference. In the event of a conflict between any term or provision contained herein and a term or provision of the Plan or the Management Stockholders Agreement, the applicable terms and provisions of the Plan or Management Stockholders Agreement,
as applicable, will govern and prevail. In the event of a conflict between any term or provision of the Plan and any term or provision of the Management Stockholders Agreement, the applicable terms and provisions of the Management Stockholders
Agreement will govern and prevail. 
  

 7 

 NOTICE OF EXERCISE 

 

							
	 Serena Software, Inc.
 1900
Seaport Blvd. Second Floor
 Redwood City CA 94063
	  	Date of Exercise:	 	                             
   	  	

 Ladies and Gentlemen: 

This constitutes notice under my stock option that I, as Optionee, elect to purchase the number of Shares for the price set forth below.

  

					
	Type of option (check one):	    	Incentive	  	    Nonstatutory
			
	 Stock option dated:
	    	                             
                           	  	
			
	 Number of Shares as to which option is exercised:
	    	                             
                           	  	
			
	 Certificates to be issued in name of:
	    	                             
                           	  	
			
	 Total exercise price:
	    	$                             
                         	  	
			
	 Consideration delivered herewith:
	    	$                             
                         	  	

 By this exercise, I agree (i) to execute or provide such additional documents as Serena
Software, Inc. (the “Company”) may reasonably require pursuant to the terms of this Notice of Exercise and the Company’s 2006 Stock Incentive Plan (the “Plan”), and (ii) to provide for the payment by me to
the Company (in the manner designated by the Company) of the Company’s withholding obligation, if any, relating to the exercise of this Option. 

I hereby make the following certifications and representations with respect to the number of shares of Common Stock of the Company listed
above (the “Shares”): 
 I am aware that my investment in the Company is a speculative investment that has
limited liquidity and is subject to the risk of complete loss. I am able, without impairing my financial condition, to hold the Shares for an indefinite period and to suffer a complete loss of my investment in the Shares. 

I represent and warrant to the Company that I am acquiring and will hold the Shares for investment for my account only, and not with a
view to, or for resale in connection with, any “distribution” of the Shares within the meaning of the Securities Act of 1933 (the “Securities Act”) or the similar laws of any state or foreign jurisdiction. 

 I understand that the Shares have not been registered under the Securities Act, the
Securities Exchange Act of 1934, or under the similar laws of any state or foreign jurisdiction (collectively, “Applicable Securities Laws”) by reason of a specific exemption therefrom and that the Shares must be held indefinitely,
unless they are subsequently registered under the Applicable Securities Laws or I obtain an opinion of counsel (in form and substance satisfactory to the Company and its counsel) that registration is not required. 

I acknowledge that the Company is under no obligation to register the Shares under Applicable Securities Laws. 

I am aware of the adoption of Rule 144 by the Securities and Exchange Commission under the Securities Act, which permits limited public
resales of securities acquired in a non-public offering, subject to the satisfaction of certain conditions. These conditions may include (without limitation) that certain current public information about the issuer is available, that the resale
occurs only after the holding period required by Rule 144 has been satisfied, that the sale occurs through an unsolicited “broker’s transaction” and that the amount of securities being sold during any three-month period does not
exceed specified limitations. I understand that the conditions for resale set forth in Rule 144 have not been satisfied and that the Company has no plans to satisfy these conditions in the foreseeable future. 

I will not sell, transfer or otherwise dispose of the Shares in violation of the Plan, the agreement under which my right to acquire the
Shares was granted, Applicable Securities Laws, or the rules promulgated thereunder, including Rule 144 under the Securities Act. 

I acknowledge that I have received and had access to such information as I consider necessary or appropriate for deciding whether to
invest in the Shares and that I had an opportunity to ask questions and receive answers from the Company regarding the terms and conditions of the issuance of the Shares. I specifically acknowledge that I have reviewed or had the opportunity to
review (i) the Plan, (ii) a summary of the Plan, and (iii) financial information and risk factors related to the Company and an investment in the Shares, including, without limitation, the Company’s most recent annual, quarterly
and current reports, which are available from the Securities and Exchange Commission’s website at www.sec.gov. 
 I
acknowledge that the Shares will be subject to certain encumbrances, including, but not limited to, drag along rights in favor of certain stockholders of the Company, repurchase rights in favor of the Company, limitations on transfer, and other
encumbrances set forth in the Plan, Stock Option Agreement, Management Stockholders Agreement and other applicable agreements and/or described in the Company’s bylaws or certificate of incorporation in effect at such time as the Company or such
other person elects to exercise its or his right. 
 I acknowledge that I am acquiring the Shares subject to all other terms of
the Plan, the Stock Option Grant Notice, the Stock Option Agreement and the Management Stockholders Agreement. 
 I further
agree that if required by the Company (or a representative of the underwriter(s)) in connection with the first underwritten registration of the offering of any equity securities of the Company under the Securities Act (or any underwritten
registration of any securities of the Company prior to that time), for a specified period of time, I will not sell, dispose of, transfer, make any short sale of, grant any option for the purchase of, or enter into any hedging or similar transaction
with the same economic effect as a sale, any Shares or other securities of the Company held by me. I further agree to execute and deliver such other agreements as may be 

 

 2 

 
reasonably requested by the Company and/or the underwriter(s) that are consistent with the foregoing or that are necessary to give further effect thereto. In order to enforce the foregoing
covenant, the Company may impose stop transfer instructions with respect to my Shares until the end of such period. 
 I agree,
and as a condition of exercise if I am married I will obtain the agreement of my spouse, that prior to the effectiveness of the first underwritten registration of the Company’s equity securities under the Securities Act, I will not transfer any
or all of the Shares unless pursuant to an exception provided in the Plan or the Stock Option Agreement. 
 I agree that as a
condition to this exercise, the certificates evidencing the Shares shall remain in the physical custody of the Company or its designee at all times prior to the last to occur of (i) the date on which all contractual restrictions set forth in
the Plan, the Company’s Articles of Incorporation and/or bylaws, or in the documents evidencing the Stock Option Agreement lapse, or (ii) the date on which all contractual requirements set forth in the Plan, the Company’s Articles of
Incorporation and/or bylaws, or in the documents evidencing the Stock Option Agreement are satisfied. As a condition to this exercise I agree to execute three (3) copies of the Assignment Separate From Certificate (with date and number of
Shares blank) substantially in the form attached to this Notice of Exercise as Attachment A, and two (2) copies of the Joint Escrow Instructions substantially in the form attached to this Notice of Exercise as Attachment B, and to deliver the
same to the Company, along with such additional documents as the Company may require. 
 I further acknowledge that all
certificates representing any of the Shares subject to the provisions of my Option shall have endorsed thereon appropriate legends reflecting the foregoing limitations, as well as any legends reflecting restrictions pursuant to the Company’s
Certificate of Incorporation, by-laws, and/or Applicable Securities Laws. 
  

 3 

 I agree to seek the consent of my spouse to the extent required by the Company to enforce
the foregoing. 
  

			
	Very truly yours,
		
	Signature:	 	  

		
	Print Name:	 	  

SPOUSAL CONSENT (if applicable): 

The undersigned spouse of Optionee has read and hereby approves the terms and conditions of this Notice of Exercise. In consideration of
the Company issuing his or her spouse the Shares, the undersigned hereby agrees to be irrevocably bound by the terms and conditions of the Plan, Management Stockholders Agreement and Joint Escrow Instructions (if applicable) and, if the undersigned
resides in a community property state, further agrees that any community property interest shall be similarly bound. 
  

			
	  

	Signature of Spouse
		
	Date:	 	  

ATTACHMENTS: 
 A. Form of
Assignment Separate from Certificate 
 B. Form of Joint Escrow Instructions 

 

 4 

 ATTACHMENT A 

FORM OF ASSIGNMENT SEPARATE FROM CERTIFICATE 

 ASSIGNMENT SEPARATE FROM CERTIFICATE 

FOR VALUE RECEIVED and pursuant to that certain Stock Option Grant
Notice and Stock Option Agreement,                              hereby sells, assigns and transfers
unto                              (“Assignee”)
                             (        ) shares of the
Common Stock of Serena Software, Inc. (“Shares”), standing in the undersigned’s name on the books of said corporation represented by Certificate No.          herewith and do
hereby irrevocably constitute and appoint                              as attorney-in-fact to transfer
the said stock on the books of the within named issuer with full power of substitution in the premises. This Assignment may be used only in accordance with and subject to the terms and conditions of the Stock Option Agreement and the Plan, in
connection with the reacquisition or transfer of the Shares issued to the undersigned pursuant to the Stock Option Agreement, and only to the extent that such Shares remain subject to the transferee’s rights to acquire the Shares and other
restrictions applicable under the Stock Option Agreement and the Plan. 
  

	
	 Dated:

 

			
	Signature:	 	  

		
	Print Name:	 	  

[INSTRUCTION: Please do not fill in any blanks other than the signature line. The purpose of this Assignment is to enable the
Company to administer its rights set forth in the Award without requiring additional signatures on your part.] 

 ATTACHMENT B 

FORM OF JOINT ESCROW INSTRUCTIONS 

 JOINT ESCROW INSTRUCTIONS 

[Date] 
 Attn: [Title] 

[Address] 
 Dear Sir/Madam: 

As Escrow Agent for both Serena Software, Inc. (the “Company”), and the undersigned recipient of stock of the Company
(“Recipient”), you are hereby authorized and directed to hold the documents delivered to you pursuant to the terms of the “Plan” and “Stock Option Agreement” (as referenced in the Notice of Exercise
to which this document is attached), in accordance with the following instructions: 
 1. In the event that (i) certain
stockholders of the Company exercise their drag-along rights, (ii) the Company exercises its repurchase rights, (iii) the Company exercises its rights to require that the Shares be contributed to a trust as set forth in Section 13(b)
of the Plan, or (iv) the Company or any other Person exercises other contractual rights applicable to the Shares and in effect as of the date hereof, the Company or its assignee will give to Recipient and you a written notice specifying that
the Shares of stock shall be transferred as described in the Plan, the Recipient’s Stock Option Agreement, or other applicable governing documents. Recipient and the Company hereby irrevocably authorize and direct you to close the transaction
contemplated by such notice in accordance with the terms of said notice. 
 At the closing, you are directed (a) to date
any stock assignments necessary for the transfer in question, (b) to fill in the number of Shares being transferred, and (c) to deliver same, together with the certificate evidencing the Shares of stock to be transferred, to the Company or
other proper transferee. 
 2. In the event that all applicable restrictions lapse, and when certain requirements are satisfied,
the Company or its assignee will give to Recipient and you a written notice specifying that the appropriate number of Shares shall be transferred to the Recipient along with any cash or in-kind dividends declared subsequent to the date hereof and
which relate to such Shares. Recipient and the Company hereby irrevocably authorize and direct you to close the transaction contemplated by such notice in accordance with the terms of said notice. 

At the closing, you are directed to deliver a certificate evidencing the appropriate number of Shares, together with any cash or in-kind
dividends declared subsequent to the date hereof and which relate to such Shares, to the Recipient. 
 3. Recipient irrevocably
authorizes the Company to deposit with you any certificates evidencing Shares of stock to be held by you hereunder and any additions and substitutions to said Shares as specified in the Stock Option Grant Notice or the Stock Option Agreement.
Recipient does hereby irrevocably constitute and appoint you as Recipient’s attorney-in-fact and 

 
agent for the term of this escrow to execute with respect to such securities and other property all documents of assignment and/or transfer and all stock certificates necessary or appropriate to
make all securities negotiable and to complete any transaction herein contemplated. 
 4. This escrow shall terminate upon the
date on which all contractual restrictions or requirements set forth in the Plan or in the documents evidencing the restrictions applicable to the Shares lapse or are satisfied as determined by the Company. 

5. If at the time of termination of this escrow you should have in your possession any documents, securities, or other property belonging
to Recipient, you shall deliver all of same to any pledgee entitled thereto or, if none, to Recipient and shall be discharged of all further obligations hereunder. 

6. Your duties hereunder may be altered, amended, modified or revoked only by a writing signed by all of the parties hereto. 

7. You shall be obligated only for the performance of such duties as are specifically set forth herein and may rely and shall be
protected in relying or refraining from acting on any instrument reasonably believed by you to be genuine and to have been signed or presented by the proper party or parties or their assignees. You shall not be personally liable for any act you may
do or omit to do hereunder as Escrow Agent or as attorney-in-fact for Recipient while acting in good faith and any act done or omitted by you pursuant to the advice of your own attorneys shall be conclusive evidence of such good faith. 

8. You are hereby expressly authorized to disregard any and all warnings given by any of the parties hereto or by any other person or
corporation, excepting only orders or process of courts of law, and are hereby expressly authorized to comply with and obey orders, judgments or decrees of any court. In case you obey or comply with any such order, judgment or decree of any court,
you shall not be liable to any of the parties hereto or to any other person, firm or corporation by reason of such compliance, notwithstanding any such order, judgment or decree being subsequently reversed, modified, annulled, set aside, vacated or
found to have been entered without jurisdiction. 
 9. You shall not be liable in any respect on account of the identity,
authority or rights of the parties executing or delivering or purporting to execute or deliver the Stock Option Grant Notice or any documents or papers deposited or called for hereunder. 

10. You shall not be liable for the outlawing of any rights under any statute of limitations with respect to these Joint Escrow
Instructions or any documents deposited with you. 
 11. You shall be entitled to employ such legal counsel, including but not
limited to Simpson Thacher & Bartlett LLP, and other experts as you may deem necessary to advise you in connection with your obligations hereunder, and you may rely upon the advice of such counsel, and may pay such counsel reasonable
compensation for such advice. 
 12. Your responsibilities as Escrow Agent hereunder shall terminate if you shall cease to be
[Fill in Title of Escrow Agent] of the Company or if you shall resign by written notice to each party. In the event of any such termination, the Company may appoint any officer or assistant officer of the Company as successor Escrow Agent and
Recipient hereby confirms the appointment of such successor or successors as his attorney-in-fact and agent to the full extent of your appointment. 
  

 2 

 13. If you reasonably require other or further instruments in connection with these Joint
Escrow Instructions or obligations in respect hereto, the necessary parties hereto shall join in furnishing such instruments. 

14. It is understood and agreed that should any dispute arise with respect to the delivery and/or ownership or right of possession of the
securities, you may (but are not obligated to) retain in your possession without liability to anyone all or any part of said securities until such dispute shall have been settled either by mutual written agreement of the parties concerned or by a
final order, decree or judgment of a court of competent jurisdiction after the time for appeal has expired and no appeal has been perfected, but you shall be under no duty whatsoever to institute or defend any such proceedings. 

15. Any notice required or permitted hereunder shall be given in writing and shall be deemed effectively given upon personal delivery or
upon deposit in the United States mail (or upon deposit with another delivery service), with postage and fees prepaid, addressed to each of the other parties hereunto entitled at the following addresses, or at such other addresses as a party may
designate by ten (10) days’ written notice to each of the other parties hereto: 
  

					
	COMPANY:	  	Serena Software, Inc.
		  	1900 Seaport Boulevard,
2nd Floor
		  	Redwood City, California 94063-5587
		  	Attn: [Title]
			
	RECIPIENT:	  	                            
	  	
		  	                            
	  	
		  	                            
	  	
		  	                            
	  	
		
	ESCROW AGENT:	  	[Name]
		  	[Address]
		  	Attn: [Fill in Title]

 16. By
signing these Joint Escrow Instructions you become a party hereto only for the purpose of said Joint Escrow Instructions; you do not become a party to the Notice of Exercise. 

 

 3 

 17. This instrument shall be binding upon and inure to the benefit of the parties hereto,
and their respective successors and permitted assigns. It is understood and agreed that references to “you” or “your” herein refer to the original Escrow Agent and to any and all successor Escrow Agents. It is understood and
agreed that the Company may at any time or from time to time assign its rights under the Stock Option Agreement, the Notice of Exercise and these Joint Escrow Instructions in whole or in part. 

 

			
	Very truly yours,
	
	SERENA SOFTWARE, INC.
		
	By:	 	  

	
	RECIPIENT
	
	  

	[Participant’s Name]

  

			
	ESCROW AGENT:
		
	BY:	 	  

 

			
	NAME:	 	  

  

 4

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