Item 1.02. Termination of a Material Definitive Agreement.

On November 18, 2010, ExactTarget, Inc. (the "Company") entered into a Loan and Security Agreement (the "Loan Agreement") with Silicon Valley Bank (the "Bank") which provided the Company with a $10.0 million bank term loan and a $7 million revolving line of credit (subsequently increased to $20 million in September 2011), collateralized by a blanket lien on substantially all of the Company's personal property, including intellectual property, which were set to mature on December 1, 2013. On April 20, 2012, the Company repaid all amounts due and owing under the Loan Agreement and the Loan Agreement was terminated. The effect of the Company's pay-off is that (i) all indebtedness and obligations of the Company to the Bank under the Loan Agreement and any other related loan and collateral security documents (the "Loan Documents") that have been issued by the Company to the Bank have been paid and discharged in full; (ii) all unfunded commitments to make credit extensions or financial accommodations to the Company or any other person under the Loan Agreement have been be terminated; (iii) all security interests and other liens of every type granted to or held by the Bank as security for such indebtedness and other obligations have been terminated; and (iv) all other obligations of the Company under the Loan Documents have been deemed terminated (except for those obligations expressly specified in the Loan Documents as surviving that respective agreement's termination). No early termination penalties were incurred.

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