Exhibit 10.4
***** Confidential treatment has been requested for portions of this exhibit.
The copy filed herewith omits the information subject to the confidentiality
request. Omissions are designated as [*****]. A complete version of this exhibit
has been filed separately with the Securities and Exchange Commission.
 
 
 
 
 
SECOND AMENDMENT TO MASTER LEASE AGREEMENT

This Second Amendment to Master Lease Agreement (this “Amendment”) is made and
entered into by and between SEARS, ROEBUCK AND CO., a New York corporation, as
the landlord (“Landlord”), and LANDS’ END, INC., a Delaware corporation, as the
tenant (“Tenant”), to be effective on February 1, 2018 (the “Effective Date”).

 
W I T N E S S E T H
 

WHEREAS, Landlord and Tenant previously entered into that certain Master Lease
Agreement dated as of April 4, 2014, but effective as of February 1, 2014, as
amended (the “Lease”).

WHEREAS, Landlord and Tenant desire to amend the terms of the Lease as set forth
herein.

NOW, THEREFORE, pursuant to the foregoing, and in consideration of the mutual
covenants and agreements contained in the Lease and herein, the Lease, as of the
Effective Date of this Amendment, is hereby modified and amended as set out
below:

1.Defined Terms. All capitalized terms used herein shall have the same meaning
as defined in the Lease, unless otherwise defined in this Amendment.

2.Recitals. The Recitals of the Lease are hereby deleted and replaced with:

“Landlord desires to lease to Tenant, and Tenant desires to lease from Landlord,
that certain premises within a building, which building location is set forth on
Annex A, under the column heading “Store Name” (each, a “Building”), consisting
of approximately the rentable square feet opposite each Building location on
Annex A under the column describing square feet (“Sq Ft”), (each, a “Leased
Premises”), upon the terms and conditions provided herein.”

3.Annex A. Annex A of the Lease is deleted in its entirety and replaced with
Annex A attached hereto.

4.Annex C. Annex C of the Lease is deleted in its entirety and replaced with
Annex C attached hereto.

5.Miscellaneous. With the exception of those terms and conditions specifically
modified and amended herein, the herein referenced Lease shall remain in full
force and effect in accordance with all its terms and conditions. In the event
of any conflict between the terms and provisions of this Amendment and the terms
and provisions of the Lease, the terms and provisions of this Amendment shall
supersede and control.

--------------------------------------------------------------------------------

6.Counterparts. This Amendment may be executed in any number of counterparts,
each of which shall be deemed an original, and all of such counterparts shall
constitute one agreement. To facilitate execution of this Amendment, the parties
may execute and exchange facsimile or e-mailed pdf counterparts of the signature
pages and such counterparts shall serve as originals.

IN WITNESS WHEREOF, the parties hereto have executed this Amendment on the dates
set forth below, to be effective for all purposes, however, as of the Effective
Date.

 
 
LANDLORD:
 
 
 
 
 
SEARS, ROEBUCK AND CO., a New York
corporation

 
 
 
 
 
By:
/s/ Robert A. Riecker
 
 
Name:
Robert A. Riecker

 
 
Title:
Chief Financial Officer
 
 
Date:
January 31, 2018
 
 
 
 
 
 
 
 
 
TENANT:
 
 
 
 
 
LANDS' END, INC., a Delaware corporation

 
 
 
 
 
 
By:
/s/ James F. Gooch
 
 
Name:
James F. Gooch
 
 
Title:
Chief Operating Officer/
Chief Financial Officer
 
 
Date:
January 31, 2018
 
 
 
 

-2-

--------------------------------------------------------------------------------

Annex A to Master Lease Agreement dated April 4, 2014 effective as of February
1, 2018

 
 
% Rent Location [*****] Gross Sales 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Store Num
Store Name
Leased/Owned
Sq. Ft.
Rent PSF
Full Year
Monthly
Expiration Date
Feb
Mar
Apr
May
Jun
Jul
Aug
Sep
Oct
Nov
Dec
Jan
Full Year
FY2019
1004
1004 GARDEN CITY
Ground Lease
15,343

[*****]
[*****]
[*****]
1/31/2020
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
1011
1011 GRANDVILLE
Owned
4,621

[*****]
[*****]
[*****]
1/31/2020
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
1012
1012 DES MOINES
Owned
4,841

[*****]
[*****]
[*****]
1/31/2020
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
1013
1013 GLEN BURNIE
Ground Lease
8,050

[*****]
[*****]
[*****]
1/31/2020
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
1022
1022 OMAHA
Owned
4,760

[*****]
[*****]
[*****]
1/31/2020
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
1023
1023 DULLES/LOUDOUN CNTY
Owned
9,535

[*****]
[*****]
[*****]
1/31/2019
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
1029
1029 SPOKANE
Owned
6,049

[*****]
[*****]
[*****]
1/31/2019
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
1033
1033 N ATTLEBORO
Owned
10,327

[*****]
[*****]
[*****]
1/31/2019
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
1043
1043 MERIDEN
Owned
6,910

[*****]
[*****]
[*****]
1/31/2019
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
1044
1044 JERSEY CTY/NEWPORT
Ground Lease
5,411

[*****]
[*****]
[*****]
1/31/2020
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
1048
1048 PASADENA
Ground Lease
7,168

[*****]
[*****]
[*****]
1/31/2020
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
1051
1051 STRONGSVILLE
Owned
5,833

[*****]
[*****]
[*****]
1/31/2019
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
1073
1073 EXTON
Ground Lease
9,039

[*****]
[*****]
[*****]
10/5/2019
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
1074
1074 WALDORF/ST CHARLES
Owned
8,771

[*****]
[*****]
[*****]
1/31/2020
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
1104
1104 MARLBOROUGH
Owned
9,950

[*****]
[*****]
[*****]
1/31/2019
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
1110
1110 PORTAGE
Owned
5,178

[*****]
[*****]
[*****]
1/31/2020
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
1120
1120 COLUMBUS
Owned
8,374

[*****]
[*****]
[*****]
1/31/2020
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
1136
1136 BIRMINGHAM/RIVERCHASE
Owned
4,215

[*****]
[*****]
[*****]
1/31/2020
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
1139
1139 TUKWILA
Ground Lease
7,216

[*****]
[*****]
[*****]
7/31/2018
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
1155
1155 KENNESAW
Owned
8,086

[*****]
[*****]
[*****]
1/31/2019
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
1171
1171 SPRINGFIELD
Owned
4,748

[*****]
[*****]
[*****]
1/31/2020
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
1182
1182 ST PETERS
Owned
8,004

[*****]
[*****]
[*****]
1/31/2019
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]

[*****] Confidential Information has been omitted and filed separately with the
Securities and Exchange Commission.  Confidential treatment has been requested
with respect to this omitted information.

--------------------------------------------------------------------------------

1192
1192 MUSKEGON
Owned
4,261

[*****]
[*****]
[*****]
1/31/2020
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
1210
1210 COLUMBUS/POLARIS
Owned
6,611

[*****]
[*****]
[*****]
1/31/2020
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
1221
1221 COLORADO SPRINGS
Owned
5,076

[*****]
[*****]
[*****]
1/31/2019
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
1224
1224 HARRISBURG
Owned
7,435

[*****]
[*****]
[*****]
1/31/2019
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
1253
1253 PEABODY
Ground Lease
13,313

[*****]
[*****]
[*****]
1/31/2020
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
1263
1263 WATERBURY
Owned
7,176

[*****]
[*****]
[*****]
1/31/2019
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
1271
1271 LITTLETON/DENVER SW
Owned
5,885

[*****]
[*****]
[*****]
1/31/2020
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
1274
1274 RICHMOND/CHESTERFIELD
Ground Lease
7,551

[*****]
[*****]
[*****]
1/31/2020
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
1278
1278 TORRANCE
Ground Lease
7,489

[*****]
[*****]
[*****]
1/31/2020
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
1280
1280 SPRINGDALE
Ground Lease
16,506

[*****]
[*****]
[*****]
7/31/2019
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
1283
1283 BRAINTREE
Ground Lease
8,694

[*****]
[*****]
[*****]
1/31/2020
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
1290
1290 NILES
Owned
7,305

[*****]
[*****]
[*****]
1/31/2019
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
1304
1304 SILVER SPRING
Ground Lease
4,973

[*****]
[*****]
[*****]
1/31/2019
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
1314
1314 NEW BRUNSWICK
Owned
7,107

[*****]
[*****]
[*****]
1/31/2020
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
1333
1333 POUGHKEEPSIE
Ground Lease
5,523

[*****]
[*****]
[*****]
1/31/2019
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
1335
1335 GREENSBORO
Ground Lease
5,856

[*****]
[*****]
[*****]
1/31/2020
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
1337
1337 PLANO
Owned
4,196

[*****]
[*****]
[*****]
1/31/2020
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
1353
1353 DE WITT/SYRACUSE
Owned
8,801

[*****]
[*****]
[*****]
1/31/2020
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
1354
1354 WILLOW GROVE
Owned
8,635

[*****]
[*****]
[*****]
1/31/2019
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
1364
1364 LAKE GROVE
Owned
7,133

[*****]
[*****]
[*****]
1/31/2019
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
1368
1368 CONCORD
Ground Lease
9,947

[*****]
[*****]
[*****]
1/31/2019
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
1374
1374 BEL AIR
Ground Lease
6,517

[*****]
[*****]
[*****]
1/31/2020
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
1375
1375 WINSTON SALEM
Owned
10,406

[*****]
[*****]
[*****]
1/31/2020
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
1404
1404 MASSAPEQUA
Ground Lease
6,997

[*****]
[*****]
[*****]
1/31/2020
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
1443
1443 MANCHESTER
Owned
6,482

[*****]
[*****]
[*****]
1/31/2019
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
1447
1447 FT WORTH
Owned
4,387

[*****]
[*****]
[*****]
1/31/2019
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]

[*****] Confidential Information has been omitted and filed separately with the
Securities and Exchange Commission.  Confidential treatment has been requested
with respect to this omitted information.

--------------------------------------------------------------------------------

1460
1460 LIVONIA
Owned
5,116

[*****]
[*****]
[*****]
1/31/2020
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
1463
1463 BURLINGTON
Ground Lease
7,315

[*****]
[*****]
[*****]
1/31/2020
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
1475
1475 DURHAM
Owned
7,596

[*****]
[*****]
[*****]
1/31/2020
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
1494
1494 MOORESTOWN
Ground Lease
8,126

[*****]
[*****]
[*****]
1/31/2020
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
1504
1504 WILLIAMSVILLE/BUFFALO
Owned
6,946

[*****]
[*****]
[*****]
1/31/2019
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
1570
1570 SCHAUMBURG
Owned
6,552

[*****]
[*****]
[*****]
1/31/2020
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
1595
1595 GREENVILLE
Owned
5,742

[*****]
[*****]
[*****]
1/31/2019
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
1600
1600 INDIANAPOLIS CASTLETON SQ
Owned
15,291

[*****]
[*****]
[*****]
1/31/2020
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
1605
1605 RALEIGH
Owned
7,204

[*****]
[*****]
[*****]
1/31/2019
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
1610
1610 CINCINNATI NORTHGATE
Owned
5,933

[*****]
[*****]
[*****]
1/31/2019
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
1614
1614 LIVINGSTON
Owned
8,270

[*****]
[*****]
[*****]
1/31/2019
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
1620
1620 VERNON HILLS
Owned
7,853

[*****]
[*****]
[*****]
1/31/2019
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
1644
1644 LANCASTER
Ground Lease
8,635

[*****]
[*****]
[*****]
1/31/2020
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
1654
1654 MEDIA
Ground Lease
8,919

[*****]
[*****]
[*****]
1/31/2020
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
1685
1685 DULUTH
Owned
6,545

[*****]
[*****]
[*****]
1/31/2019
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
1690
1690 CHESTERFIELD
Owned
8,489

[*****]
[*****]
[*****]
1/31/2020
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
1710
1710 NO OLMSTED
Owned
8,789

[*****]
[*****]
[*****]
1/31/2020
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
1720
1720 STERLING HTS
Owned
8,167

[*****]
[*****]
[*****]
1/31/2019
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
1722
1722 BLOOMINGTON
Ground Lease
8,564

[*****]
[*****]
[*****]
1/31/2020
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
1730
1730 FLORENCE
Owned
6,338

[*****]
[*****]
[*****]
1/31/2019
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
1734
1734 LAWRENCEVILLE
Owned
10,295

[*****]
[*****]
[*****]
1/31/2020
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
1744
1744 OCEAN
Owned
8,224

[*****]
[*****]
[*****]
1/31/2019
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
1754
1754 GAITHERSBURG
Owned
8,839

[*****]
[*****]
[*****]
1/31/2020
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
1760
1760 NOVI
Owned
8,769

[*****]
[*****]
[*****]
1/31/2019
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
1765
1765 PALM BEACH GARDENS
Ground Lease
6,188

[*****]
[*****]
[*****]
10/31/2018
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
1800
1800 MISHAWAKA
Owned
5,927

[*****]
[*****]
[*****]
1/31/2020
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]

[*****] Confidential Information has been omitted and filed separately with the
Securities and Exchange Commission.  Confidential treatment has been requested
with respect to this omitted information.

--------------------------------------------------------------------------------

1804
1804 BARBOURSVILLE
Owned
8,441

[*****]
[*****]
[*****]
1/31/2019
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
1805
1805 RALEIGH
Owned
7,318

[*****]
[*****]
[*****]
1/31/2019
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
1834
1834 NORTH WALES
Ground Lease
9,819

[*****]
[*****]
[*****]
1/31/2020
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
1853
1853 WILMINGTON
Owned
8,415

[*****]
[*****]
[*****]
1/31/2019
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
1854
1854 PARKVILLE
Owned
7,928

[*****]
[*****]
[*****]
1/31/2020
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
1958
1958 SAN JOSE/OAK RIDGE
Ground Lease
7,547

[*****]
[*****]
[*****]
3/23/2018
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
2027
2027 WASILLA
Ground Lease
7,063

[*****]
[*****]
[*****]
1/31/2019
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
2092
2092 APPLETON
Owned
5,792

[*****]
[*****]
[*****]
1/31/2020
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
2183
2183 SO PORTLAND
Owned
5,564

[*****]
[*****]
[*****]
1/31/2019
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
2309
2309 SILVERDALE
Owned
4,226

[*****]
[*****]
[*****]
1/31/2019
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
2395
2395 MANASSAS
Ground Lease
7,407

[*****]
[*****]
[*****]
6/14/2019
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Total
 
 
 
 
 
 
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
 
 
 
 
 
 
 
Count
85
85
84
84
84
84
83
83
83
82
82
82
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Adjustment 1
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Adjustment 2
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Adjustment 3
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Revised Totals
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]
[*****]

[*****] Confidential Information has been omitted and filed separately with the
Securities and Exchange Commission.  Confidential treatment has been requested
with respect to this omitted information.

--------------------------------------------------------------------------------

 
 
ANNEX C
 
 
 
 
 
 
 
 
 
PERCENTAGE RENT
 
 
 
 
 
 
 

Commencing on February 1, 2018, with respect to the Leased Premises listed below
(the “Contingent Rent Locations”), Tenant shall pay as Rent the greater of (i)
the Rent set forth on Annex A or (ii) [*****] of Tenant’s Gross Sales for each
applicable location as described on this Annex C. With respect to each
Contingent Rent Location, Tenant shall pay to Landlord each month throughout the
Term the Rent set forth on Annex A, subject to reconciliation as set forth
below.

Contingent Rent Locations:

The locations as indicated on Annex A.

With respect to each Contingent Rent Location, the term “Gross Sales”, shall
mean all cash, check, charge account or credit sales of Tenant’s merchandise
(excluding sales of gift cards until time of redemption) made in or from the
applicable Leased Premises, and sales or service by any sublessee, assignee,
concessionaire or licensee in such Leased Premises, as determined in accordance
with GAAP, as amended, after deductions for refunds and merchandise returned by
customers. No deduction shall be allowed for uncollected or uncollectible credit
accounts. Gross Sales shall not include (i) any sums collected and paid out for
any sales or excise tax imposed by any duly constituted governmental authority,
(ii) the exchange of merchandise between the stores of Tenant, if any, where
such exchanges of goods or merchandise are made solely for the convenient
operation of the business of Tenant and not for the purpose of consummating a
sale which has theretofore been made at, in, from or upon the applicable Leased
Premises, and/or for the purpose of depriving Landlord of the benefit of a sale
which otherwise would be made at, in, from or upon such Leased Premises, (iii)
the amount of returns to shippers or manufacturers, (iv) the amount of any cash
or credit refund made upon any sale where the merchandise sold, or some part
thereof, is thereafter returned by the customer and accepted by Tenant, (v)
receipts from customers for carrying charges or other credit charges, or (vi)
the sale of fixtures after their use in the conduct of business in such Leased
Premises.

Within thirty (30) days after the close of each fiscal year, Tenant shall, for
each Contingent Rent Location, deliver to Landlord a statement of Gross Sales
for each such fiscal year showing the Gross Sales made during such fiscal year,
certified by a duly qualified officer of Tenant as being true, complete and
correct. For any Contingent Rent Location at which the calculation of [*****] of
Tenant’s Gross Sales (the “Percentage Rent Payment”) is greater than the amount
of Rent which was paid for such location pursuant to Annex A, Tenant’s statement
of Gross Sales shall also be accompanied by a payment of the difference between
the Percentage Rent Payment and the Rent which was paid pursuant to Annex A.

[*****] Confidential Information has been omitted and filed separately with the
Securities and Exchange Commission.  Confidential treatment has been requested
with respect to this omitted information.