Document:

EX-4.4

 Exhibit 4.4 

INDENTURE 
 DATED AS
OF             , 20 
 BETWEEN 

Invivyd, Inc. 
 as Issuer, 

AND 
 as Trustee 

 
  

Providing for Issuance of 
 Debt
Securities 
 in Series 
  

 

 TABLE OF CONTENTS 

 

							
	 	 	 	  	Page	 
	 ARTICLE I. DEFINITIONS AND OTHER PROVISIONS OF GENERAL APPLICATION
	  	 	1	 
			
	 Section 1.01
	 	Definitions	  	 	1	 
	 Section 1.02
	 	Compliance Certificates and Opinions	  	 	6	 
	 Section 1.03
	 	Form of Documents Delivered to Trustee	  	 	6	 
	 Section 1.04
	 	Acts of Holders; Record Dates	  	 	7	 
	 Section 1.05
	 	Notices, Etc., to Trustee and Company	  	 	8	 
	 Section 1.06
	 	Notice to Holders; Waiver	  	 	9	 
	 Section 1.07
	 	Conflict with Trust Indenture Act	  	 	9	 
	 Section 1.08
	 	Effect of Headings and Table of Contents	  	 	9	 
	 Section 1.09
	 	Successors and Assigns	  	 	10	 
	 Section 1.10
	 	Separability Clause	  	 	10	 
	 Section 1.11
	 	Benefits of Indenture	  	 	10	 
	 Section 1.12
	 	Governing Law	  	 	10	 
	 Section 1.13
	 	Legal Holidays	  	 	10	 
	 Section 1.14
	 	Incorporators, Equityholders, Directors, Members, Managers, Officers and Employees of the Company Exempt from Individual Liability	  	 	10	 
	 Section 1.15
	 	Counterparts	  	 	10	 
	 Section 1.16
	 	WAIVER OF JURY TRIAL	  	 	11	 
		
	 ARTICLE II. SECURITY FORM
	  	 	11	 
			
	 Section 2.01
	 	Forms Generally	  	 	11	 
	 Section 2.02
	 	Form of Legend for Global Securities	  	 	11	 
	 Section 2.03
	 	Form of Trustee’s Certificate of Authentication	  	 	12	 
		
	 ARTICLE III. THE SECURITIES
	  	 	13	 
			
	 Section 3.01
	 	Amount Unlimited; Issuable in Series	  	 	13	 
	 Section 3.02
	 	Denominations	  	 	16	 
	 Section 3.03
	 	Execution, Authentication, Delivery and Dating	  	 	16	 
	 Section 3.04
	 	Temporary Securities	  	 	17	 
	 Section 3.05
	 	Registration; Registration of Transfer and Exchange	  	 	17	 
	 Section 3.06
	 	Mutilated, Destroyed, Lost and Stolen Securities	  	 	19	 
	 Section 3.07
	 	Payment of Interest; Interest Rights Preserved	  	 	19	 
	 Section 3.08
	 	Persons Deemed Owners	  	 	20	 
	 Section 3.09
	 	Cancellation	  	 	21	 
	 Section 3.10
	 	Computation of Interest	  	 	21	 
	 Section 3.11
	 	CUSIP Numbers	  	 	21	 
	 Section 3.12
	 	Original Issue Discount	  	 	21	 
		
	 ARTICLE IV. SATISFACTION AND DISCHARGE
	  	 	21	 
			
	 Section 4.01
	 	Satisfaction and Discharge of Indenture	  	 	21	 
	 Section 4.02
	 	Application of Trust Money	  	 	23	 
		
	 ARTICLE V. REMEDIES
	  	 	23	 
			
	 Section 5.01
	 	Events of Default	  	 	23	 
	 Section 5.02
	 	Acceleration of Maturity; Rescission and Annulment	  	 	24	 
	 Section 5.03
	 	Collection of Indebtedness and Suits for Enforcement by Trustee	  	 	25	 

  
 i 

							
	 Section 5.04
	 	Trustee May File Proofs of Claim	  	 	25	 
	 Section 5.05
	 	Trustee May Enforce Claims Without Possession of Securities	  	 	26	 
	 Section 5.06
	 	Application of Money Collected	  	 	26	 
	 Section 5.07
	 	Limitation on Suits	  	 	26	 
	 Section 5.08
	 	Unconditional Right of Holders to Receive Principal Premium and Interest and to Convert Securities	  	 	27	 
	 Section 5.09
	 	Restoration of Rights and Remedies	  	 	27	 
	 Section 5.10
	 	Rights and Remedies Cumulative	  	 	27	 
	 Section 5.11
	 	Delay or Omission Not Waiver	  	 	27	 
	 Section 5.12
	 	Control by Holders	  	 	27	 
	 Section 5.13
	 	Waiver of Past Defaults	  	 	27	 
	 Section 5.14
	 	Undertaking for Costs	  	 	28	 
	 Section 5.15
	 	Waiver of Usury, Stay or Extension Laws	  	 	28	 
		
	 ARTICLE VI. THE TRUSTEE
	  	 	28	 
			
	 Section 6.01
	 	Certain Duties and Responsibilities	  	 	28	 
	 Section 6.02
	 	Notice of Defaults	  	 	29	 
	 Section 6.03
	 	Certain Rights of Trustee	  	 	29	 
	 Section 6.04
	 	Not Responsible for Recitals or Issuance of Securities	  	 	31	 
	 Section 6.05
	 	May Hold Securities	  	 	31	 
	 Section 6.06
	 	Money Held in Trust	  	 	31	 
	 Section 6.07
	 	Compensation and Reimbursement	  	 	31	 
	 Section 6.08
	 	Conflicting Interests	  	 	32	 
	 Section 6.09
	 	Corporate Trustee Required, Eligibility	  	 	32	 
	 Section 6.10
	 	Resignation and Removal, Appointment of Successor	  	 	32	 
	 Section 6.11
	 	Acceptance of Appointment by Successor	  	 	33	 
	 Section 6.12
	 	Merger, Conversion, Consolidation or Succession to Business	  	 	34	 
	 Section 6.13
	 	Preferential Collection of Claims Against Company	  	 	34	 
	 Section 6.14
	 	Appointment of Authenticating Agent	  	 	34	 
		
	 ARTICLE VII. HOLDERS’ LISTS AND REPORTS BY TRUSTEE AND COMPANY
	  	 	35	 
			
	 Section 7.01
	 	Company to Furnish Trustee Names and Addresses of Holders	  	 	35	 
	 Section 7.02
	 	Preservation of Information; Communications to Holders	  	 	36	 
	 Section 7.03
	 	Reports by Trustee	  	 	36	 
	 Section 7.04
	 	Reports by Company	  	 	36	 
		
	 ARTICLE VIII. CONSOLIDATION, MERGER, CONVEYANCE, TRANSFER OR LEASE
	  	 	37	 
			
	 Section 8.01
	 	Company May Consolidate, Etc., Only on Certain Terms	  	 	37	 
	 Section 8.02
	 	Successor Substituted	  	 	37	 
		
	 ARTICLE IX. SUPPLEMENTAL INDENTURES
	  	 	37	 
			
	 Section 9.01
	 	Supplemental Indentures Without Consent of Holders	  	 	37	 
	 Section 9.02
	 	Supplemental Indentures With Consent of Holders	  	 	39	 
	 Section 9.03
	 	Execution of Supplemental Indentures	  	 	39	 
	 Section 9.04
	 	Effect of Supplemental Indentures	  	 	39	 
	 Section 9.05
	 	Conformity with Trust Indenture Act	  	 	40	 
	 Section 9.06
	 	Reference in Securities to Supplemental Indentures	  	 	40	 

  
 ii 

							
		
	 ARTICLE X. COVENANTS
	  	 	40	 
			
	 Section 10.01
	 	Payment of Principal, Premium and Interest	  	 	40	 
	 Section 10.02
	 	Maintenance of Office or Agency	  	 	40	 
	 Section 10.03
	 	Money for Securities Payments to Be Held in Trust	  	 	41	 
	 Section 10.04
	 	Statement by Officer as to Default	  	 	41	 
	 Section 10.05
	 	Existence	  	 	41	 
	 Section 10.06
	 	Waiver of Certain Covenants	  	 	42	 
		
	 ARTICLE XI. REDEMPTION OF SECURITIES
	  	 	42	 
			
	 Section 11.01
	 	Applicability of Article	  	 	42	 
	 Section 11.02
	 	Election to Redeem; Notice to Trustee	  	 	42	 
	 Section 11.03
	 	Selection by Trustee of Securities to Be Redeemed	  	 	42	 
	 Section 11.04
	 	Notice of Redemption	  	 	43	 
	 Section 11.05
	 	Deposit of Redemption Price	  	 	44	 
	 Section 11.06
	 	Securities Payable on Redemption Date	  	 	44	 
	 Section 11.07
	 	Securities Redeemed in Part	  	 	44	 
		
	 ARTICLE XII. SINKING FUNDS
	  	 	45	 
			
	 Section 12.01
	 	Applicability of Article	  	 	45	 
	 Section 12.02
	 	Satisfaction of Sinking Fund Payments with Securities	  	 	45	 
		
	 ARTICLE XIII. DEFEASANCE AND COVENANT DEFEASANCE
	  	 	45	 
			
	 Section 13.01
	 	Company’s Option to Effect Defeasance or Covenant Defeasance	  	 	45	 
	 Section 13.02
	 	Defeasance and Discharge	  	 	45	 
	 Section 13.03
	 	Covenant Defeasance	  	 	46	 
	 Section 13.04
	 	Conditions to Defeasance or Covenant Defeasance	  	 	46	 
	 Section 13.05
	 	Deposited Money and U.S. Government Obligations to Be Held in Trust; Miscellaneous Provisions	  	 	47	 
	 Section 13.06
	 	Reinstatement	  	 	48	 

 Note: This table of contents shall not, for any purpose, be deemed to be a part of the Indenture. 

  
 iii 

 Invivyd, Inc. 

Certain Sections of this Indenture relating to Sections 310 - 318, inclusive, 

of the Trust Indenture Act of 1939, as amended 
  

					
	 Trust Indenture Act Section
	 	 	  	 Indenture
Section

	 310(a)(1)
	 		  	6.09
	 (a)(2)
	 		  	6.09
	 (a)(3)
	 		  	N.A.
	 (a)(4)
	 		  	N.A.
	 (a)(5)
	 		  	6.09
	 (b)
	 		  	6.08, 6.10
	 (c)
	 		  	N.A.
	 311(a)
	 		  	6.13
	 (b)
	 		  	6.13
	 (c)
	 		  	N.A.
	 312(a)
	 		  	7.01, 7.02
	 (b)
	 		  	7.02
	 (c)
	 		  	7.02
	 313(a)
	 		  	7.03
	 (b)(1)
	 		  	N.A.
	 (b)(2)
	 		  	7.03
	 (c)
	 		  	7.03
	 (d)
	 		  	7.03
	 314(a)
	 		  	7.04
	 (a)(4)
	 		  	1.04, 10.04
	 (b)
	 		  	N.A.
	 (c)(1)
	 		  	1.02
	 (c)(2)
	 		  	1.02
	 (c)(3)
	 		  	N.A.
	 (d)
	 		  	N.A.
	 (e)
	 		  	1.02
	 (f)
	 		  	N.A.
	 315(a)
	 		  	6.01
	 (b)
	 		  	6.02
	 (c)
	 		  	6.01
	 (d)
	 		  	6.01
	 (e)
	 		  	5.14
	 316(a)(last sentence)
	 		  	1.06
	 (a)(1)(A)
	 		  	5.02, 5.12
	 (a)(1)(B)
	 		  	5.13
	 (a)(2)
	 		  	N.A.
	 (b)
	 		  	5.08
	 (c)
	 		  	1.04

  
 iv 

					
	 Trust Indenture Act Section
	 	 	  	 Indenture
Section

	 317(a)(1)
	 		  	5.03
	 (a)(2)
	 		  	5.04
	 (b)
	 		  	10.03
	 318(a)
	 		  	1.07
	 (b)
	 		  	N.A.
	 (c)
	 		  	1.07

  

	*	 N.A. means inapplicable. 

NOTE: This reconciliation and tie shall not, for any purpose, be deemed to be part of the Indenture. 

  
 v 

 INDENTURE 

THIS INDENTURE, dated as of             , 20     ,
between Invivyd, Inc., a corporation duly organized and existing under the laws of the State of Delaware (herein called the “Company”),
and                     , as trustee (herein called the “Trustee”). 

RECITALS 
 The Company has
duly authorized the execution and delivery of this Indenture to provide for the issuance from time to time of the Company’s debentures, notes or other evidences of indebtedness (herein called the “Securities”), to be issued in one or
more series as provided in this Indenture. 
 All things necessary to make this Indenture a valid agreement of the Company in accordance
with its terms, have been done. 
 NOW, THEREFORE, THIS INDENTURE WITNESSETH: 

For and in consideration of the premises and the purchase of the Securities by the Holders thereof, it is mutually agreed, for the equal and
proportionate benefit of all Holders of the Securities or of any series thereof, as follows: 
 ARTICLE I. DEFINITIONS AND OTHER
PROVISIONS OF GENERAL APPLICATION 
 Section 1.01 Definitions. 

For all purposes of this Indenture, except as otherwise expressly provided or unless the context otherwise requires: 

(a) the terms defined in this Article have the meanings assigned to them in this Article and include the plural as well as the singular and the
masculine gender shall include the feminine and neuter, and vice versa, unless the context otherwise requires; 
 (b) all other terms used
herein that are defined in the Trust Indenture Act, either directly or by reference therein, have the meanings assigned to them therein; 

(c) all accounting terms not otherwise defined herein have the meanings assigned to them in accordance with generally accepted accounting
principles in the United States of America (including, if applicable, International Financial Reporting Standards) as in effect from time to time; 

(d) unless the context otherwise requires, any reference to an “Article” or a “Section” refers to an Article or a Section,
as the case may be, of this Indenture; 
 (e) the words “herein”, “hereof” and “hereunder” and other words of
similar import refer to this Indenture as a whole and not to any particular Article, Section or other subdivision; 
 (f) “or” is
not exclusive, and “including” means “including without limitation”, “including but not limited to” or words of similar import; 

(g) when used with respect to any Security, the words “convert,” “converted” and “conversion” are intended to
refer to the right of the Holder or the Company to convert or exchange such Security into or for securities or other property in accordance with such terms, if any, as may hereafter be specified for such Security as contemplated by
Section 3.01, and these words are not intended to refer to any right of the Holder or the Company to exchange such Security for other Securities of the same series and like tenor pursuant to Section 3.04,
Section 3.05, Section 3.06, Section 9.06 or Section 11.07 or another similar provisions of this Indenture, unless the context otherwise requires; and references herein to the terms of any Security that
may be converted mean such terms as may be specified for such Security as contemplated in Section 3.01; and 

  
 1 

 (h) unless otherwise provided, references to agreements and other instruments shall be
deemed to include all amendments and other modifications to such agreements and instruments, but only to the extent such amendments and other modifications are not prohibited by the terms of this Indenture. 

“Act”, when used with respect to any Holder, has the meaning specified in Section 1.04. 

“Affiliate” of any specified Person means any other Person directly or indirectly controlling or controlled by or
under direct or indirect common control with such specified Person. For the purposes of this definition, “control” when used with respect to any specified Person means the power to direct the management and policies of such Person,
directly or indirectly, whether through the ownership of voting securities, by contract or otherwise; and the terms “controlling” and “controlled” have meanings correlative to the foregoing. 

“Applicable Procedures” of a Depositary means, with respect to any matter at any time, the policies and procedures of
such Depositary, if any, that are applicable to such matter at such time. 
 “Authenticating Agent” means any
Person authorized by the Trustee pursuant to Section 6.14 to act on behalf of the Trustee to authenticate Securities of one or more series. 

“Board of Directors” means either the board of directors of the Company or any duly authorized committee of that board
of directors. 
 “Board Resolution” means a copy of a resolution certified by the Secretary or an Assistant
Secretary of the Company to have been duly adopted by the Board of Directors and to be in full force and effect on the date of such certification and delivered to the Trustee. 

“Business Day”, when used with respect to any Place of Payment, means, except as otherwise provided or contemplated by
Section 3.01 with respect to any series of Securities, each Monday, Tuesday, Wednesday, Thursday and Friday which is not a day on which banking institutions in that Place of Payment are authorized or obligated by law or executive order
or regulation to close. 
 “Commission” means the Securities and Exchange Commission, from time to time
constituted, created under the Exchange Act, or, if at any time after the execution of this Indenture such Commission is not existing and performing the duties now assigned to it under the Trust Indenture Act, then the body performing such duties at
such time. 
 “Company” means the Person named as the “Company” in the first paragraph of this
Indenture until a successor Person shall have become such pursuant to the applicable provisions of this Indenture, and thereafter “Company” shall mean such successor Person. 

“Company Request” or “Company Order” means a written request or order signed in the name of the
Company by its Chief Executive Officer, Chief Financial Officer or Corporate Secretary of the Company, or any other officer or officers of the Company designated in writing by or pursuant to authority of the Board of Directors, and delivered to the
Trustee. 
 “Corporate Trust Office” means the principal office of the Trustee at which at any particular
time its corporate trust business shall be administered, or at any other time at such other address as the Trustee may designate from time to time by notice to the Holders. 

“corporation” means a corporation, association, limited liability company, company, joint-stock company or business
trust. 
 “Covenant Defeasance” has the meaning specified in Section 13.03. 

  
 2 

 “Defaulted Interest” has the meaning specified in Section
3.07. 
 “Defeasance” has the meaning specified in Section 13.02. 

“Depositary” means, with respect to Securities of any series issuable in whole or in part in the form of one or more Global
Securities, a clearing agency registered under the Exchange Act that is designated to act as Depositary for such Securities as contemplated by Section 3.01. 

“Event of Default” has the meaning specified in Section 5.01. 

“Exchange Act” means the Securities Exchange Act of 1934 and any statute successor thereto, in each case as amended
from time to time. 
 “Expiration Date” has the meaning specified in Section 1.04. 

“Global Security” means a Security that evidences all or part of the Securities of any series and bears the legend set
forth in Section 2.04 (or such legend as may be specified as contemplated by Section 3.01 for such Securities). 

“Holder” means a Person in whose name a Security is registered in the Security Register. 

“Indenture” means this instrument as originally executed and as it may from time to time be supplemented or amended by one or
more indentures supplemental hereto entered into pursuant to the applicable provisions hereof, including, for all purposes of this instrument and any such supplemental indenture, the provisions of the Trust Indenture Act that are deemed to be a part
of and govern this instrument and any such supplemental indenture, respectively. The term “Indenture” shall also include the terms of particular series of Securities established as contemplated by Section 3.01. 

“interest”, when used with respect to an Original Issue Discount Security that by its terms bears interest only after
Maturity, means interest payable after Maturity. 
 “Interest Payment Date”, when used with respect to any
Security, means the Stated Maturity of an installment of interest on such Security. 
 “Internal Revenue
Code” means the U.S. Internal Revenue Code of 1986, as amended from time to time. 
 “mandatory sinking fund
payment” has the meaning specified in Section 12.01. 
 “Maturity”, when used with respect to
any Security, means the date on which the principal of such Security or an installment of principal becomes due and payable as therein or herein provided, whether at the Stated Maturity or by declaration of acceleration, call for redemption or
otherwise. 
 “Notice of Default” means a written notice of the kind specified in Section 5.01(d).

 “Officer’s Certificate” means a certificate signed by the Chairman of the Board, the Chief Executive
Officer, the Chief Financial Officer or the Corporate Secretary or any other officer or officers of the Company designated in writing by or pursuant to authority of the Board of Directors and delivered to the Trustee. 

“Opinion of Counsel” means a written opinion of counsel, who may be an employee of, or outside counsel to, but does
not have to be counsel for, the Company, and who shall be acceptable to the Trustee, which acceptance shall not be unreasonably withheld. Opinions of Counsel required to be delivered under this Indenture may have qualifications customary for
opinions of the type required. 
 “optional sinking fund payment” has the meaning specified in Section
12.01. 

  
 3 

 “Original Issue Discount Security” means any Security that provides
for an amount less than the principal amount thereof to be due and payable upon a declaration of acceleration of the Maturity thereof pursuant to Section 5.02. 

“Outstanding”, when used with respect to Securities, means, as of the date of determination, all Securities
theretofore authenticated and delivered under this Indenture, except: 
 (1) Securities theretofore cancelled and delivered to the
Trustee or delivered to the Trustee for cancellation; 
 (2) Securities for whose payment or redemption money in the necessary amount has
been theretofore deposited with the Trustee or any Paying Agent (other than the Company) in trust or set aside and segregated in trust by the Company (if the Company shall act as its own Paying Agent) for the Holders of such Securities; provided
that, if such Securities are to be redeemed, notice of such redemption has been duly given pursuant to this Indenture or provision therefor has been made; 

(3) Securities, except to the extent provided in Sections 13.02 and 13.03 respectively, as to which the Company has effected
Defeasance pursuant to Section 13.02 or Covenant Defeasance pursuant to Section 13.03; 
 (4) Securities which have
been paid pursuant to Section 3.06 or in exchange for or in lieu of which other Securities have been authenticated and delivered pursuant to this Indenture, other than any such Securities in respect of which there shall have been
presented to the Trustee proof satisfactory to it that such Securities are held by a bona fide purchaser in whose hands such Securities are valid obligations of the Company; and 

(5) Securities as to which any property deliverable upon conversion thereof has been delivered (or such delivery has been made available), or
as to which any other particular conditions have been satisfied, in each case as may be provided for such Securities as contemplated in Section 3.01; 

provided, however, that in determining whether the Holders of the requisite principal amount of the Outstanding Securities have given, made or taken any
request, demand, authorization, direction, notice, consent, waiver or other action hereunder as of any date, (A) the principal amount of an Original Issue Discount Security which shall be deemed to be Outstanding shall be the amount of the
principal thereof which would be due and payable as of such date upon acceleration of the Maturity thereof to such date pursuant to Section 5.02, (B) if, as of such date, the principal amount payable at the Stated Maturity of a
Security is not determinable, the principal amount of such Security which shall be deemed to be Outstanding shall be the amount as specified or determined as contemplated by Section 3.01, (C) the principal amount of a Security
denominated in one or more foreign currencies, composite currencies or currency units which shall be deemed to be Outstanding shall be the U.S. dollar equivalent, determined as of such date in the manner provided as contemplated by
Section 3.01, of the principal amount of such Security (or, in the case of a Security described in Clause (A) or (B) above, of the amount determined as provided in such Clause), and (D) Securities owned by the Company or
any other obligor upon the Securities or any Affiliate of the Company or of such other obligor shall be disregarded and deemed not to be Outstanding, except that, in determining whether the Trustee shall be protected in relying upon any such
request, demand, authorization, direction, notice, consent, waiver or other action, only Securities which the Trustee knows to be so owned shall be so disregarded. The Trustee shall be protected in relying on an Officer’s Certificate or other
evidence satisfactory to it in determining ownership. Securities so owned which have been pledged in good faith may be regarded as Outstanding if the pledgee establishes to the satisfaction of the Trustee the pledgee’s right so to act with
respect to such Securities and that the pledgee is not the Company or any other obligor upon the Securities or any Affiliate of the Company or of such other obligor. 

“Paying Agent” means any Person authorized by the Company to pay the principal of or any premium or interest on any
Securities on behalf of the Company. 
 “Person” means any individual, corporation, company (including a
limited liability company), partnership, joint venture, association, joint stock company, trust, unincorporated organization or government or any agency or political subdivision thereof or any other entity. 

  
 4 

 “Place of Payment”, when used with respect to the Securities of any
series, means the place or places where the principal of and any premium and interest on the Securities of that series are payable as specified or contemplated by Section 3.01. 

“Predecessor Security” of any particular Security means every previous Security evidencing all or a portion of the
same debt as that evidenced by such particular Security; and, for the purposes of this definition, any Security authenticated and delivered under Section 3.06 in exchange for or in lieu of a mutilated, destroyed, lost or stolen Security
shall be deemed to evidence the same debt as the mutilated, destroyed, lost or stolen Security. 
 “Redemption
Date”, when used with respect to any Security to be redeemed, means the date fixed for such redemption by or pursuant to this Indenture. 

“Redemption Price”, when used with respect to any Security to be redeemed, means the price at which it is to be
redeemed pursuant to this Indenture. 
 “Regular Record Date” for the interest payable on any Interest
Payment Date on the Securities of any series means the date specified for that purpose as contemplated by Section 3.01. 

“Responsible Officer”, when used with respect to the Trustee, means the chairman or any vice-chairman of the board of
directors, the chairman or any vice-chairman of the executive committee of the board of directors, the chairman of the trust committee, the president, any Vice President, the secretary, any assistant secretary, the treasurer, any assistant
treasurer, the cashier, any assistant cashier, any trust officer or assistant trust officer, the controller or any assistant controller or any other officer of the Trustee customarily performing functions similar to those performed by any of the
above designated officers and also means, with respect to a particular corporate trust matter, any other officer to whom such matter is referred because of his knowledge of and familiarity with the particular subject and who shall have direct
responsibility for the administration of this Indenture. 
 “Securities” has the meaning stated in the first
recital of this Indenture and more particularly means any Securities authenticated and delivered under this Indenture. 

“Securities Act” means the Securities Act of 1933 and any statute successor thereto, in each case as amended from time
to time. 
 “Security Register” and “Security Registrar” have the respective meanings
specified in Section 3.05. 
 “Special Record Date” for the payment of any Defaulted Interest means a
date fixed by the Trustee pursuant to Section 3.07. 
 “Stated Maturity”, when used with respect to
any Security or any installment of principal thereof or interest thereon, means the date specified in such Security as the fixed date on which the principal of such Security or such installment of principal or interest is due and payable.

 “Subsidiary” means any Person a majority of the combined voting power of the total outstanding ownership
interests in which is, at the time of determination, beneficially owned or held, directly or indirectly, by the Company or one or more other Subsidiaries. For this purpose, “voting power” means power to vote in an ordinary election of
directors (or, in the case of a Person that is not a corporation, ordinarily to appoint or approve the appointment of Persons holding similar positions), whether at all times or only as long as no senior class of ownership interests has such voting
power by reason of any contingency. 
 “Trust Indenture Act” means the Trust Indenture Act of 1939 as in
force at the date as of which this Indenture was executed, except as otherwise provided in Section 9.05; provided, however, that in the event the Trust Indenture Act of 1939 is amended after such date, “Trust Indenture Act”
means, to the extent required by any such amendment, the Trust Indenture Act of 1939 as so amended. 

  
 5 

 “Trustee” means the Person named as the “Trustee” in the
first paragraph of this Indenture until a successor Trustee shall have become such pursuant to the applicable provisions of this Indenture, and thereafter “Trustee” shall mean or include each Person who is then a Trustee hereunder, and if
at any time there is more than one such Person, “Trustee” as used with respect to the Securities of any series shall mean the Trustee with respect to Securities of that series. 

“U.S. Government Obligation” has the meaning specified in Section 13.04. 

“Vice President”, when used with respect to the Trustee, means any vice president, whether or not designated by a
number or a word or words added before or after the title “vice president”. 
 Section 1.02 Compliance Certificates
and Opinions. 
 Upon any application or request by the Company to the Trustee to take or refrain from taking any action under any
provision of this Indenture, the Company shall furnish to the Trustee such certificates and opinions as may be required under the Trust Indenture Act; provided, however, that no opinion shall be required in connection with the issuance of Securities
that are part of any series as to which such an opinion has been furnished. Each such certificate and opinion shall be given in the form of an Officer’s Certificate, if to be given by an officer of the Company and an Opinion of Counsel, if to
be given by counsel, and shall comply with the requirements of the Trust Indenture Act and any other requirements set forth in this Indenture. 

Every certificate or opinion with respect to compliance with a condition or covenant provided for in this Indenture (except for certificates
provided in Section 10.04) shall include: 
 (a) a statement that each individual signing such certificate or opinion has read
such covenant or condition and the definitions herein relating thereto; 
 (b) a brief statement as to the nature and scope of the
examination or investigation upon which the statements or opinions contained in such certificate or opinion are based; 
 (c) a statement
that, in the opinion of each such individual, he or she has made such examination or investigation as is necessary to enable him or her to express an informed opinion as to whether or not such covenant or condition has been complied with; and 

(d) a statement as to whether, in the opinion of each such individual, such condition or covenant has been complied with. 

Section 1.03 Form of Documents Delivered to Trustee. 

In any case where several matters are required to be certified by, or covered by an opinion of, any specified Person, it is not necessary that
all such matters be certified by, or covered by the opinion of, only one such Person, or that they be so certified or covered by only one document, but one such Person may certify or give an opinion with respect to some matters and one or more other
such Persons as to other matters, and any such Person may certify or give an opinion as to such matters in one or several documents. 
 Any
certificate or opinion of an officer of the Company may be based, insofar as it relates to legal matters, upon a certificate or opinion of, or representations by, counsel, unless such officer knows, or in the exercise of reasonable care should know,
that the certificate or opinion or representations with respect to the matters upon which his certificate or opinion is based are erroneous. Any such certificate or opinion of counsel may be based, insofar as it relates to factual matters, upon a
certificate or opinion of, or representations by, an officer or officers of the Company stating that the information with respect to such factual matters is in the possession of the Company, unless such counsel knows, or in the exercise of
reasonable care should know, that the certificate or opinion or representations with respect to such matters are erroneous. Counsel delivering an Opinion of Counsel may also rely as to factual matters on certificates of governmental or other
officials customary for opinions of the type required. 

  
 6 

 Where any Person is required to make, give or execute two or more applications, requests,
consents, certificates, statements, opinions or other instruments under this Indenture, they may, but need not, be consolidated and form one instrument. 

Section 1.04 Acts of Holders; Record Dates. 

Any request, demand, authorization, direction, notice, consent, waiver or other action provided or permitted by this Indenture to be given,
made or taken by Holders may be embodied in and evidenced by one or more instruments of substantially similar tenor signed by such Holders in person or by an agent duly appointed in writing; and, except as herein otherwise expressly provided, such
action shall become effective when such instrument or instruments are delivered to the Trustee and, where it is hereby expressly required, to the Company. Such instrument or instruments (and the action embodied therein and evidenced thereby) are
herein sometimes referred to as the “Act” of the Holders signing such instrument or instruments. Proof of execution of any such instrument or of a writing appointing any such agent shall be sufficient for any purpose of this
Indenture and (subject to Section 6.01) conclusive in favor of the Trustee and the Company, if made in the manner provided in this Section. 

Without limiting the generality of the foregoing, a Holder, including a Depositary that is a Holder of a Global Security, may make, give or
take, by a proxy or proxies, duly appointed in writing, any request, demand, authorization, direction, notice, consent, waiver or other action provided in this Indenture to be made, given or taken by Holders, and a Depositary that is a Holder of a
Global Security may provide its proxy or proxies to the beneficial owners of interests in any such Global Security. 
 The fact and date of
the execution by any Person of any such instrument or writing may be proved by the affidavit of a witness of such execution or by a certificate of a notary public or other officer authorized by law to take acknowledgments of deeds, certifying that
the individual signing such instrument or writing acknowledged to him the execution thereof. Where such execution is by a signer acting in a capacity other than his individual capacity, such certificate or affidavit shall also constitute sufficient
proof of his authority. The fact and date of the execution of any such instrument or writing, or the authority of the Person executing the same, may also be proved in any other manner which the Trustee deems sufficient. 

The ownership, principal amount and serial numbers of Securities held by any Person, and the date of commencement of such Person’s
holding the same, shall be proved by the Security Register. 
 Any request, demand, authorization, direction, notice, consent, waiver or
other Act of the Holder of any Security shall bind every future Holder of the same Security and the Holder of every Security issued upon the registration of transfer thereof or in exchange therefor or in lieu thereof in respect of anything done,
omitted or suffered to be done by the Trustee or the Company in reliance thereon, whether or not notation of such action is made upon such Security. 

The Company may set any day as a record date for the purpose of determining the Holders of Outstanding Securities of any series entitled to
give, make or take any request, demand, authorization, direction, notice, consent, waiver or other action provided or permitted by this Indenture to be given, made or taken by Holders of Securities of such series, but the Company shall have no
obligation to do so; provided that the Company may not set a record date for, and the provisions of this paragraph shall not apply with respect to, the giving or making of any notice, declaration, request or direction referred to in the next
paragraph. If any record date is set pursuant to this paragraph, the Holders of Outstanding Securities of the relevant series on such record date, and no other Holders, shall be entitled to take the relevant action, whether or not such Holders
remain Holders after such record date; provided that no such action shall be effective hereunder unless taken on or prior to the applicable Expiration Date by Holders of the requisite principal amount of Outstanding Securities of such series on such
record date. Nothing in this paragraph shall be construed to prevent the Company from setting a new record date for any action for which a record date has previously been set pursuant to this paragraph (whereupon the record date previously set shall
automatically and with no action by any Person be cancelled and of no effect), and nothing in this paragraph shall be construed to render ineffective any action taken by Holders of the requisite principal amount of Outstanding Securities of the
relevant series on the date such action is taken. Promptly after any record date is set pursuant to this paragraph, the Company, at its own expense, shall cause notice of such record date, the proposed action by Holders and the applicable Expiration
Date to be given to the Trustee in writing and to each Holder of Securities of the relevant series in the manner set forth in Section 1.05 or Section 1.06. 

  
 7 

 The Trustee may set any day as a record date for the purpose of determining the Holders of
Outstanding Securities of any series entitled to join in the giving or making of (i) any Notice of Default, (ii) any declaration of acceleration referred to in Section 5.02, (iii) any request to institute proceedings
referred to in Section 5.07(b) or (iv) any direction referred to in Section 5.12, in each case with respect to Securities of such series. If any record date is set pursuant to this paragraph, the Holders of Outstanding
Securities of such series on such record date, and no other Holders, shall be entitled to join in such notice, declaration, request or direction, whether or not such Holders remain Holders after such record date; provided that no such action shall
be effective hereunder unless taken on or prior to the applicable Expiration Date by Holders of the requisite principal amount of Outstanding Securities of such series on such record date. Nothing in this paragraph shall be construed to prevent the
Trustee from setting a new record date for any action for which a record date has previously been set pursuant to this paragraph (whereupon the record date previously set shall automatically and with no action by any Person be cancelled and of no
effect), and nothing in this paragraph shall be construed to render ineffective any action taken by Holders of the requisite principal amount of Outstanding Securities of the relevant series on the date such action is taken. Promptly after any
record date is set pursuant to this paragraph, the Trustee, at the Company’s expense, shall cause notice of such record date, the proposed action by Holders and the applicable Expiration Date to be given to the Company in writing and to each
Holder of Securities of the relevant series in the manner set forth in Section 1.05 or Section 1.06. 
 With
respect to any record date set pursuant to this Section, the party hereto which sets such record date may designate any day as the “Expiration Date” and from time to time may change the Expiration Date to any earlier or later day;
provided that no such change shall be effective unless notice of the proposed new Expiration Date is given to the other party hereto in writing, and to each Holder of Securities of the relevant series in the manner set forth in
Section 1.06, on or prior to the then existing Expiration Date. If an Expiration Date is not designated with respect to any record date set pursuant to this Section, the party hereto which set such record date shall be deemed to have
initially designated the 180th day following such record date as the Expiration Date with respect thereto, subject to its right to change the Expiration Date as provided in this paragraph. Notwithstanding the foregoing, no Expiration Date shall be
later than the 180th day following the applicable record date. 
 Without limiting the foregoing, a Holder entitled hereunder to take
any action hereunder with regard to any particular Security may do so with regard to all or any part of the principal amount of such Security or by one or more duly appointed agents each of which may do so pursuant to such appointment with regard to
all or any part of such principal amount. 
 Section 1.05 Notices, Etc., to Trustee and Company. 

Any request, demand, authorization, direction, notice, consent, waiver or Act of Holders or other document provided or permitted by this
Indenture to be made upon, given or furnished to, or filed with: 
 (1) the Trustee by any Holder or by the Company shall be sufficient for
every purpose hereunder if made, given, furnished or filed in writing (which may be by facsimile or electronic transmission) to or with the Trustee at its Corporate Trust Office at the location specified in Section 1.01; or 

(2) the Company by the Trustee or by any Holder shall be sufficient for every purpose hereunder (unless otherwise herein expressly provided) if
in writing and mailed, first-class postage prepaid, to the Company at the address of the Company’s principal office specified in writing to the Trustee, which shall be, until further notice: 

Invivyd, Inc. 
 1601 Trapelo
Road, Suite 178 
 Waltham, MA 02451 

Attn: Chief Executive Officer 

  
 8 

 Copy to: 

Hogan Lovells US LLP 
 1735 Market
Street, 23rd Floor 
 Philadelphia, PA 19103-2799 

Attention: Steven J. Abrams, Esq. 

In addition to the foregoing, the Trustee agrees to accept and act upon notices, instructions or directions pursuant to this Indenture sent by
unsecured e-mail, facsimile transmission or other similar unsecured electronic methods. If the party elects to give the Trustee e-mail or facsimile notices, instructions or directions (or notices, instructions or directions by a similar electronic
method) and the Trustee acts upon such notices, instructions or directions, the Trustee’s understanding of such notices, instructions or directions shall be deemed controlling. The Trustee shall not be liable for any losses, costs or expenses
arising directly or indirectly from the Trustee’s reliance upon and compliance with such notices, instructions or directions notwithstanding such notices, instructions or directions conflict or are inconsistent with a subsequent written notice,
instruction or direction. The Company agrees to assume all risks arising out of the use of such electronic methods to submit notices, instructions and directions to the Trustee, including without limitation the risk of the Trustee acting on
unauthorized notices, instructions or directions, and the risk or interception and misuse by third parties. 
 Section 1.06 Notice
to Holders; Waiver. 
 Where this Indenture provides for notice to Holders of any event, such notice shall be sufficiently given (unless
otherwise herein expressly provided) if in writing and mailed, first-class postage prepaid, to each Holder affected by such event, at its address as it appears in the Security Register, not later than the latest date (if any), and not earlier than
the earliest date (if any), prescribed for the giving of such notice. In any case where notice to Holders is given by mail, neither the failure to mail such notice, nor any defect in any notice so mailed, to any particular Holder shall affect the
sufficiency of such notice with respect to other Holders. Any notice when mailed to a Holder in the aforesaid manner shall be conclusively deemed to have been received by such Holder whether or not actually received by such Holder. Where this
Indenture provides for notice in any manner, such notice may be waived in writing by the Person entitled to receive such notice, either before or after the event, and such waiver shall be the equivalent of such notice. Waivers of notice by Holders
shall be filed with the Trustee, but such filing shall not be a condition precedent to the validity of any action taken in reliance upon such waiver. 

In case by reason of the suspension of regular mail service or by reason of any other cause it shall be impracticable to give such notice by
mail, then such notification as shall be made with the approval of the Trustee shall constitute a sufficient notification for every purpose hereunder. 

Where this Indenture provides for notice of any event to a Holder of a Global Security, such notice shall be sufficiently given if given to
the Depositary for such Security (or its designee), pursuant to the Applicable Procedures of the Depositary, not later than the latest date, if any, and not earlier than the earliest date, if any, prescribed for the giving of such notice. 

Section 1.07 Conflict with Trust Indenture Act. 

This Indenture is subject to the provisions of the Trust Indenture Act that are required to be a part of this Indenture and, to the extent
applicable, shall be governed by such provisions. If any provision hereof limits, qualifies or conflicts with a provision of the Trust Indenture Act or with another provision hereof which is required under the Trust Indenture Act to be a part of and
govern this Indenture, the latter provision shall control. If any provision of this Indenture modifies or excludes any provision of the Trust Indenture Act which may be so modified or excluded, the latter provision shall be deemed to apply to this
Indenture as so modified or excluded, as the case may be. 
 Section 1.08 Effect of Headings and Table of Contents. 

The Article and Section headings herein and the Table of Contents are for convenience only and shall not affect the construction hereof. 

  
 9 

 Section 1.09 Successors and Assigns. 

All covenants and agreements in this Indenture by the Company shall bind its successors and assigns, whether so expressed or not. All
agreements of the Trustee in this Indenture shall bind its successors and assigns, whether so expressed or not. 
 Section 1.10
Separability Clause. 
 In case any provision in this Indenture or in the Securities shall be invalid, illegal or unenforceable, the
validity, legality and enforceability of the remaining provisions shall not in any way be affected or impaired thereby. 
 Section 1.11
Benefits of Indenture. 
 Nothing in this Indenture or in the Securities, express or implied, shall give to any Person, other than the
parties hereto and their successors hereunder and the Holders, any benefit or any legal or equitable right, remedy or claim under this Indenture, except as may otherwise be expressly provided pursuant to Section 3.01 with respect to any
specific Securities. 
 Section 1.12 Governing Law. 

This Indenture and the Securities shall be governed by and construed in accordance with the laws of the State of New York. 

Section 1.13 Legal Holidays. 

In any case where any Interest Payment Date, Redemption Date or Stated Maturity of any Security, or any date on which a Holder has the right to
convert such Holder’s Security, shall not be a Business Day at any Place of Payment, then (notwithstanding any other provision of this Indenture or of the Securities (other than a provision of any Security which specifically states that such
provision shall apply in lieu of this Section)) payment of interest or principal (and premium, if any), or the Redemption Price or conversion of such Security, need not be made at such Place of Payment on such date, but may be made on the next
succeeding Business Day at such Place of Payment with the same force and effect as if made on the Interest Payment Date or Redemption Date, or at the Stated Maturity, or on such conversion date. No interest shall accrue for the period from and after
any such Interest Payment Date, Redemption Date, Stated Maturity or conversion date, as the case may be, to the date of such payment. 

Section 1.14 Incorporators, Equityholders, Directors, Members, Managers, Officers and Employees of the Company Exempt from Individual
Liability. 
 No recourse under or upon any obligation, covenant or agreement contained in this Indenture, or in any Security, or because
of any indebtedness evidenced thereby, shall be had against any incorporator, as such, or against any past, present or future equityholder, director, member, manager, officer or employee, as such, of the Company or of any successor, either directly
or through the Company or any successor, under any rule of law, statute or constitutional provision or by the enforcement of any assessment or by any legal or equitable proceeding or otherwise, all such liability being expressly waived and released
by the acceptance of the Securities by the Holders thereof and as part of the consideration for the issue of the Securities. 

Section 1.15 Counterparts. 

This Indenture may be executed in several counterparts, each of which shall be an original and all of which shall constitute but one and the
same instrument. Delivery of an executed signature page of this Indenture by facsimile or any other rapid transmission device designed to produce a written record of the communication transmitted shall be as effective as delivery of a manually
executed counterpart thereof. The words “execution,” “executed,” “signed,” signature” and words of like import in this Indenture or in any other certificate, agreement or document related to this Indenture shall
include images of manually executed signatures transmitted by facsimile, email or other electronic format (including, without limitation, “pdf,” “tif” or “jpg”) and other electronic signatures (including, without
limitation, DocuSign and AdobeSign). The use of electronic signatures and electronic records 

  
 10 

 
(including, without limitation, any contract or other record created, generated, sent, communicated, received, or stored by electronic means) shall be of the same legal effect, validity and
enforceability as a manually executed signature or use of a paper-based record-keeping system to the fullest extent permitted by applicable law, including the Federal Electronic Signatures in Global and National Commerce Act and any other applicable
law, including, without limitation, any state law based on the Uniform Electronic Transactions Act or the Uniform Commercial Code. 

Section 1.16 WAIVER OF JURY TRIAL.  

EACH OF THE COMPANY, THE HOLDERS AND THE TRUSTEE HEREBY IRREVOCABLY WAIVES, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ANY AND ALL
RIGHT TO TRIAL BY JURY IN ANY LEGAL PROCEEDING AS BETWEEN THE COMPANY AND THE TRUSTEE ONLY ARISING OUT OF OR RELATING TO THIS INDENTURE OR THE SECURITIES. 

ARTICLE II. SECURITY FORM 

Section 2.01 Forms Generally. 

The Securities of each series and the Trustee’s certificate of authentication shall be in substantially the forms set forth in this
Article, or in such other form as shall be established by or pursuant to a Board Resolution and, subject to Section 3.03, to the extent established in an Officer’s Certificate or Company Order setting forth, or determining the
manner of, such establishment, or in one or more indentures supplemental hereto, in each case with such appropriate insertions, omissions, substitutions and other variations as are required or permitted by this Indenture, and may have such letters,
numbers or other marks of identification and such legends or endorsements placed thereon as may be required to comply with applicable laws or the rules of any securities exchange or automated quotation system on which the Securities of such series
may be listed or traded or of any Depositary therefor or as may, consistently herewith, be determined by the officers executing such Securities, as evidenced by their execution thereof. If the form of Securities of any series is established by
action taken pursuant to a Board Resolution, a copy of an appropriate record of such action shall be certified by the Secretary or an Assistant Secretary of the Company and delivered to the Trustee at or prior to the delivery of the Company Order
contemplated by Section 3.03 for the authentication and delivery of such Securities. If all of the Securities of any series established by action taken pursuant to a Board Resolution are not to be issued at one time, it shall not be
necessary to deliver a record of such action at the time of issuance of each Security of such series, but an appropriate record of such action shall be delivered at or before the time of issuance of the first Security of such series. 

The definitive Securities shall be printed, lithographed or engraved on steel engraved borders or may be produced in any other manner, all as
determined by the officers executing such Securities, as evidenced by their execution of such Securities. 
 Section 2.02 Form of
Legend for Global Securities. 
 Unless otherwise specified as contemplated by Section 3.01 for the Securities evidenced
thereby or as required by Applicable Procedures, every Global Security authenticated and delivered hereunder shall bear a legend in substantially the following form: 

UNLESS THIS NOTE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION
(“DTC”), TO THE ISSUER OR ITS AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE
OF DTC (AND ANY PAYMENT IS MADE TO CEDE & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE
REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN. 

  
 11 

 TRANSFERS OF THIS GLOBAL SECURITY SHALL BE LIMITED TO TRANSFERS IN WHOLE, BUT NOT IN PART,
TO NOMINEES OF DTC OR TO A SUCCESSOR THEREOF OR SUCH SUCCESSOR’S NOMINEE AND TRANSFERS OF PORTIONS OF THIS GLOBAL SECURITY SHALL BE LIMITED TO TRANSFERS MADE IN ACCORDANCE WITH THE RESTRICTIONS SET FORTH IN THE INDENTURE REFERRED TO ON THE
REVERSE HEREOF. 
 THIS SECURITY IS A GLOBAL SECURITY WITHIN THE MEANING OF THE INDENTURE HEREINAFTER REFERRED TO AND IS REGISTERED IN THE
NAME OF A DEPOSITARY OR A NOMINEE THEREOF. THIS SECURITY MAY NOT BE EXCHANGED IN WHOLE OR IN PART FOR A SECURITY REGISTERED, AND NO TRANSFER OF THIS SECURITY IN WHOLE OR IN PART MAY BE REGISTERED, IN THE NAME OF ANY PERSON OTHER THAN SUCH DEPOSITARY
OR A NOMINEE THEREOF, EXCEPT IN THE LIMITED CIRCUMSTANCES DESCRIBED IN THE INDENTURE. EVERY SECURITY AUTHENTICATED AND DELIVERED UPON REGISTRATION OF TRANSFER OF, OR IN EXCHANGE FOR OR IN LIEU OF, THIS SECURITY SHALL BE A GLOBAL SECURITY SUBJECT TO
THE FOREGOING, EXCEPT IN SUCH LIMITED CIRCUMSTANCES. 
 If Securities of a series are issuable in whole or in part in the form of one or
more Global Securities, as contemplated by Section 3.01, then, notwithstanding Clause (i) of Section 3.01 and the provisions of Section 3.02, any Global Security shall represent such of the Outstanding
Securities of such series as shall be specified therein and may provide that it shall represent the aggregate amount of Outstanding Securities from time to time endorsed thereon and that the aggregate amount of Outstanding Securities represented
thereby may from time to time be reduced or increased, as the case may be, to reflect exchanges. Any endorsement of a Global Security to reflect the amount, or any reduction or increase in the amount, of Outstanding Securities represented thereby
shall be made in such manner and upon instructions given by such Person or Persons as shall be specified therein or in a Company Order. Subject to the provisions of Sections 3.03, 3.04, 3.05 and 3.06, the Trustee shall deliver
and redeliver any Global Security in the manner and upon instructions given by the Person or Persons specified therein or in the applicable Company Order. Any instructions by the Company with respect to endorsement or delivery or redelivery of a
Global Security shall be in a Company Order (which need not comply with Section 1.02 and need not be accompanied by an Opinion of Counsel). 

The provisions of the last sentence of Section 3.03 shall apply to any Security represented by a Global Security if such Security
was never issued and sold by the Company and the Company delivers to the Trustee the Global Security together with a Company Order (which need not comply with Section 1.02 and need not be accompanied by an Opinion of Counsel) with regard
to the reduction in the principal amount of Securities represented thereby, together with the written statement contemplated by the last sentence of Section 3.03. 

Section 2.03 Form of Trustee’s Certificate of Authentication. 

The Trustee’s certificates of authentication shall be in substantially the following form: 

TRUSTEE’S CERTIFICATE OF AUTHENTICATION 

This is one of the debt Securities of the series designated herein and referred to in the within-mentioned Indenture. 

 

	
	[                                      
  ],
	As Trustee
	
	By:
	
	      

	Authorized Signatory

  
 12 

 ARTICLE III. THE SECURITIES 

Section 3.01 Amount Unlimited; Issuable in Series. 

The aggregate principal amount of Securities that may be authenticated and delivered under this Indenture is unlimited. 

The Securities may be issued in one or more series. There shall be established in or pursuant to a Board Resolution and, subject to
Section 3.03, to the extent established pursuant to, rather than set forth in, a Board Resolution, in an Officer’s Certificate or Company Order setting forth, or determining the manner of, such establishment, or established in one
or more indentures supplemental hereto, prior to the issuance of Securities of any series: 
 (a) the form and title of the Securities of the
series (which shall distinguish the Securities of the series from Securities of any other series); 
 (b) any limit upon the aggregate
principal amount of the Securities of the series that may be authenticated and delivered under this Indenture (except for Securities authenticated and delivered upon registration of transfer of, or in exchange for, or in lieu of, other Securities of
the series pursuant to Section 3.04, 3.05, 3.06, 9.06 or 11.07 and except for any Securities which, pursuant to Section 3.03, are deemed never to have been authenticated and delivered hereunder);
provided, however, that the authorized aggregate principal amount of such series may from time to time be increased above such amount by a Board Resolution to such effect; 

(c) the issue price or prices of originally issued Securities, expressed as a percentage of the principal amount, and the original issue date;

 (d) the Person to whom any interest on a Security of the series shall be payable, if other than the Person in whose name that Security (or
one or more Predecessor Securities) is registered at the close of business on the Regular Record Date for such interest; 
 (e) the date or
dates on which the Securities will be issued and on which principal of, and premium, if any, on, any Securities of the series is payable or the method of determination thereof; 

(f) the rate or rates (which may be fixed or variable, or combination thereof) at which any Securities of the series shall bear interest, if
any, or the method of determination thereof, the date or dates from which any such interest shall accrue, or the method of determination thereof, the Interest Payment Dates on which any such interest shall be payable and the Regular Record Date for
any such interest payable on any Interest Payment Date, or the method by which such date or dates shall be determined, and the basis upon which interest shall be calculated if other than that of a 360-day year of twelve 30-day months, the right, if
any, to extend or defer interest payments and the duration of such extension or deferral; 
 (g) the place or places where, subject to the
provisions of Section 10.02, the principal of and any premium and interest on any Securities of the series shall be payable, Securities of the series may be surrendered for registration or transfer, Securities of the series may be
surrendered for exchange, and notices and demands to or upon the Company in respect of the Securities of the series and this Indenture may be served; 

(h) the period or periods, if any, within which, the price or prices at which and the terms and conditions upon which any Securities of the
series may be redeemed, in whole or in part, at the option of the Company and, if other than by a Board Resolution, the manner in which any election by the Company to redeem the Securities shall be evidenced; 

(i) the obligation, if any, and the option, if any, of the Company to redeem, purchase or repay any Securities of the series pursuant to any
sinking fund, amortization or analogous provisions or upon the happening of a specified event or at the option of the Holder thereof and the period or periods within which, the price or prices at which and the terms and conditions upon which any
Securities of the series shall be redeemed, purchased or repaid, in whole or in part, pursuant to such obligation or option; 

  
 13 

 (j) if other than a minimum denomination equal to $2,000 or an integral multiple of $1,000
in excess thereof, the denominations in which any Securities of the series shall be issuable; 
 (k) if the debt Securities will be issued in
registered or bearer form or both and, if in bearer form, the related terms and conditions and any limitations on issuance of such bearer debt Securities (including exchange for registered debt Securities of the same series); 

(l) if the amount of principal of or any premium or interest on any Securities of the series may be determined with reference to an index
including an index based on a currency or currencies other than in which the Securities of that series are payable or pursuant to a formula, the manner in which such amounts shall be determined; 

(m) if other than the currency of the United States of America, the currency, currencies or currency units in which the principal of or any
premium or interest on any Securities of the series shall be denominated, payable, redeemable or purchasable and the manner of determining the equivalent thereof in the currency of the United States of America for any purpose, including for purposes
of the definition of “Outstanding” in Section 1.01; 
 (n) if the principal of or any premium or interest on any
Securities of the series is to be payable, redeemable or purchasable, at the election of the Company or the Holder thereof, in one or more currencies or currency units other than that or those in which such Securities are stated to be payable,
redeemable, or purchasable, the currency, currencies or currency units in which the principal of or any premium or interest on such Securities as to which such election is made shall be payable, redeemable or purchasable, the periods within which
and the terms and conditions upon which such election is to be made and the amount so payable, redeemable or purchasable (or the manner in which such amount shall be determined); 

(o) if other than the entire principal amount thereof, the portion of the principal amount of any Securities of the series which shall be
payable upon declaration of acceleration of the Maturity thereof pursuant to Section 5.02 or provable in bankruptcy pursuant to Section 5.04 or the method of determination thereof; 

(p) if the principal amount payable at the Stated Maturity of any Securities of the series will not be determinable as of any one or more dates
prior to the Stated Maturity, the amount which shall be deemed to be the principal amount of such Securities as of any such date for any purpose thereunder or hereunder, including the principal amount thereof which shall be due and payable upon any
Maturity other than the Stated Maturity or which shall be deemed to be Outstanding as of any date prior to the Stated Maturity (or, in any such case, the manner in which such amount deemed to be the principal amount shall be determined); 

(q) if applicable, that the Securities of the series, in whole or any specified part, shall be defeasible pursuant to Section 13.02
or Section 13.03 or both such Sections or if other than as provided in Sections 13.02 or 13.03, the terms and conditions upon which and the manner in which such series of Securities may be defeased or discharged, and, if
other than by a Board Resolution, the manner in which any election by the Company to defease or discharge such Securities shall be evidenced; 

(r) if applicable, that any Securities of the series shall be issuable in whole or in part in the form of one or more Global Securities and, in
such case, the respective Depositaries for such Global Securities, the form of any legend or legends which shall be borne by any such Global Security in addition to or in lieu of that set forth in Section 2.04, information with respect
to book-entry procedures, and any circumstances in addition to or in lieu of those set forth in Section 3.05 in which any such Global Security may be exchanged in whole or in part for Securities registered, and any transfer of such
Global Security in whole or in part may be registered, in the name or names of Persons other than the Depositary for such Global Security or a nominee thereof; 

(s) if the debt Security is issued as an original issue discount debt Security, and if so, the yield to maturity; 

  
 14 

 (t) any deletion from, addition to or change in the Events of Default that apply to
Securities of the series and any change in the right of the Trustee or the requisite Holders of such Securities to declare the principal amount thereof due and payable pursuant to Section 5.02; 

(u) any addition to or change in the covenants set forth in Article X that apply to Securities of the series or in any defined term used
in Article X; 
 (v) the right, if any, of the Company to defer payments of interest by extending the interest payment periods and
specify the duration of such extension, the Interest Payment Dates on which such interest shall be payable and whether and under what circumstances additional interest on amounts deferred shall be payable; 

(w) if other than the Trustee, the identity of any other trustee, the Security Registrar and any Paying Agent; 

(x) if other than as set forth in Article IV, provisions relating to the satisfaction and discharge of this Indenture; 

(y) whether the Securities of the series will be guaranteed by any Person or Persons and, if so, the identity of such Person or Persons, the
terms and conditions upon which such Securities shall be guaranteed and, if applicable, the terms and conditions upon which such guarantees may be subordinated to other indebtedness of the respective guarantors; 

(z) whether the Securities of the series will be secured by any collateral and, if so, the terms and conditions upon which such Securities
shall be secured and, if applicable, upon which such liens may be subordinated to other liens securing other indebtedness of the Company or any guarantor; 

(aa) whether the Securities will be issued in a transaction exempt from registration under the Securities Act and any restriction or condition
on the transferability of the Securities of such series; 
 (bb) the exchanges, if any, on which the Securities may be listed; 

(cc) the terms of any right to convert or exchange Securities of such series into any other securities or property of the Company or of any
other corporation or Person, and the additions or changes, if any, to this Indenture with respect to the Securities of such series to permit or facilitate such conversion or exchange; and 

(dd) any other terms of the Securities of the series (which terms shall not be prohibited by the provisions of this Indenture). 

All Securities of any one series shall be substantially identical except as to denomination and except as may otherwise be provided in or
pursuant to the Board Resolution referred to above and (subject to Section 3.03) set forth, or determined in the manner provided, in the Officer’s Certificate referred to above or in any such indenture supplemental hereto.
Accordingly, the terms of any Security of a series may differ from the terms of other Securities of the same series, if and to the extent provided pursuant to this Section. The matters referenced in any or all of Clauses (a) through (dd) above
may be established and set forth or determined as aforesaid with respect to all or any specific Securities of a series (in each case to the extent permitted by the Trust Indenture Act). 

Any such Board Resolution or Officer’s Certificate referred to above with respect to Securities of any series filed with the Trustee on
or before the initial issuance of the Securities of such series shall be incorporated herein by reference with respect to Securities of such series and shall thereafter be deemed to be a part of this Indenture for all purposes relating to Securities
of such series as fully as if such Board Resolution or Officer’s Certificate were set forth herein in full. 

  
 15 

 All Securities of any one series need not be issued at the same time and, unless otherwise
provided, a series may be reopened, without the consent of the Holders, for increases in the aggregate principal amount of such series of Securities and issuances of additional Securities of such series or for the establishment of additional terms
with respect to the Securities of such series. 
 If any of the terms of the series are established by action taken pursuant to a Board
Resolution, a copy of an appropriate record of such action shall be certified by the Secretary or an Assistant Secretary of the Company and delivered to the Trustee at or prior to the delivery of the Officer’s Certificate setting forth the
terms of the series. 
 Section 3.02 Denominations. 

The Securities of each series shall be issuable only in registered form without coupons and only in such denominations as shall be specified as
contemplated by Section 3.01. In the absence of any such specified denomination with respect to the Securities of any series, the Securities of such series shall be issuable in a denomination equal to $2,000 or an integral multiple of
$1,000 in excess thereof. 
 Section 3.03 Execution, Authentication, Delivery and Dating. 

The Securities shall be executed on behalf of the Company by its Chairman of the Board, Chief Executive Officer, Chief Financial Officer, or
Corporate Secretary (or any other officer of the Company designated in writing by or pursuant to authority of the Board of Directors and delivered to the Trustee from time to time). The signature of any of these officers on the Securities may be
manual, electronic or facsimile. 
 Securities bearing the manual, electronic or facsimile signatures of individuals who were at any time
the proper officers of the Company shall bind the Company notwithstanding that such individuals or any of them have ceased to hold such offices prior to the authentication and delivery of such Securities or did not hold such offices at the date of
such Securities. 
 At any time and from time to time after the execution and delivery of this Indenture, the Company may deliver Securities
of any series executed by the Company to the Trustee for authentication, together with a Company Order for the authentication and delivery of such Securities, and the Trustee in accordance with the Company Order shall authenticate and deliver such
Securities. If the form or terms of the Securities of the series have been established by or pursuant to one or more Board Resolutions as permitted by Sections 2.01 and 3.01, in authenticating such Securities, and accepting the
additional responsibilities under this Indenture in relation to such Securities, the Trustee shall be entitled to receive, and (subject to, Section 6.01) shall be fully protected in relying upon, an Opinion of Counsel stating: 

(a) if the form of such Securities has been established by or pursuant to a Board Resolution as permitted by Section 2.01, that
such form has been established in conformity with the provisions of this Indenture; 
 (b) if the terms of such Securities have been
established by or pursuant to a Board Resolution as permitted by Section 3.01, that such terms have been established in conformity with the provisions of this Indenture; and 

(c) that such Securities, when authenticated by the Trustee and issued and delivered by the Company in the manner and subject to any conditions
specified in such Opinion of Counsel, will constitute valid and legally binding obligations of the Company, enforceable against the Company in accordance with their terms, subject to bankruptcy, insolvency, fraudulent transfer, reorganization,
moratorium and similar laws of general applicability relating to or affecting creditors’ rights and to general equity principles or other customary exceptions. 

If such form or terms have been so established, the Trustee shall not be required to authenticate such Securities if the issue of such
Securities pursuant to this Indenture in accordance with a Board Resolution will materially adversely affect the Trustee’s own rights, duties or immunities under the Securities and this Indenture or otherwise in a manner which is not reasonably
acceptable to the Trustee. 

  
 16 

 Notwithstanding the provisions of Section 3.01 and of the preceding paragraph,
if all Securities of a series are not to be originally issued at one time, it shall not be necessary, unless the Trustee reasonably determines otherwise, for the Company to deliver a Board Resolution, Officer’s Certificate or supplemental
indenture otherwise required pursuant to Section 3.01 or the Company Order and Opinion of Counsel otherwise required pursuant to the third paragraph of this Section at or prior to the authentication of each Security of such series if
such documents are delivered at or prior to the authentication upon original issuance of the first Security of such series to be issued. 

Each Security shall be dated the date of its authentication. 

No Security shall be entitled to any benefit under this Indenture or be valid or obligatory for any purpose unless there appears on such
Security a certificate of authentication substantially in the form provided for herein executed by the Trustee by manual signature, and such certificate upon any Security shall be conclusive evidence, and the only evidence, that such Security has
been duly authenticated and delivered hereunder and is entitled to the benefits of this Indenture. Notwithstanding the foregoing, if any Security shall have been authenticated and delivered hereunder but never issued and sold by the Company, and the
Company shall deliver such Security to the Trustee for cancellation as provided in Section 3.09, for all purposes of this Indenture such Security shall be deemed never to have been authenticated and delivered hereunder and shall never be
entitled to the benefits of this Indenture. 
 Section 3.04 Temporary Securities. 

Pending the preparation of definitive Securities of any series, the Company may execute, and upon Company Order the Trustee shall authenticate
and deliver, temporary Securities which are printed, lithographed, typewritten, mimeographed or otherwise produced, in any authorized denomination, substantially of the tenor of the definitive Securities in lieu of which they are issued and with
such appropriate insertions, omissions, substitutions and other variations as the officers executing such Securities may determine, as evidenced by their execution of such Securities. 

If temporary Securities of any series are issued, the Company will cause definitive Securities of that series to be prepared without
unreasonable delay. After the preparation of definitive Securities of such series, the temporary Securities of such series shall be exchangeable for definitive Securities of such series upon surrender of the temporary Securities of such series at
the office or agency of the Company in a Place of Payment for that series, without charge to the Holder. Upon surrender for cancellation of any one or more temporary Securities of any series, the Company shall execute and the Trustee shall
authenticate and deliver in exchange therefor one or more definitive Securities of the same series, of any authorized denominations and of like tenor and aggregate principal amount. Until so exchanged, the temporary Securities of any series shall in
all respects be entitled to the same benefits under this Indenture as definitive Securities of such series and tenor. 
 Section 3.05
Registration; Registration of Transfer and Exchange. 
 The Company shall cause to be kept at the Corporate Trust Office or
other designated office of the Trustee a register (the “Security Register”) in which, subject to such reasonable regulations as it may prescribe, the Company shall provide for the registration of Securities and of transfers of
Securities entitled to registration or transfer as provided herein. The Trustee is hereby appointed “Security Registrar” for the purpose of registering Securities and transfers of Securities as herein provided. The Company may at
any time replace such Security Registrar, change such office or agency or act as its own Security Registrar. The Company will give prompt written notice to the Trustee of any change of the Security Registrar or of the location of such office or
agency. At all reasonable times the Security Register shall be available for inspection by the Trustee. 
 Upon surrender for
registration of transfer of any Security of a series at the office or agency of the Company in a Place of Payment for that series, the Company shall execute, and the Trustee shall authenticate and deliver, in the name of the designated transferee or
transferees, one or more new Securities of the same series, of any authorized denominations and of like tenor and aggregate principal amount. 

At the option of the Holder, Securities of any series (except a Global Security) may be exchanged for other Securities of the same series, of
any authorized denominations and of like tenor and aggregate principal amount, upon surrender of the Securities to be exchanged at such office or agency. Whenever any Securities are so surrendered for exchange, the Company shall execute, and the
Trustee shall authenticate and deliver, the Securities that the Holder making the exchange is entitled to receive. 

  
 17 

 All Securities issued upon any registration of transfer or exchange of Securities shall be
the valid obligations of the Company, evidencing the same debt, and entitled to the same benefits under this Indenture, as the Securities surrendered upon such registration of transfer or exchange. 

Every Security presented or surrendered for registration of transfer or for exchange shall (if so required by the Company or the Trustee) be
duly endorsed, or be accompanied by a written instrument of transfer in form satisfactory to the Company and the Security Registrar duly executed, by the Holder thereof or his attorney duly authorized in writing. 

No service charge shall be made for any registration of transfer or exchange of Securities, but the Company may require payment of a sum
sufficient to cover any tax or other governmental charge that may be imposed in connection with any registration of transfer or exchange of Securities, other than exchanges pursuant to Section 3.04, 9.06 or 11.07 not
involving any transfer. 
 If the Securities of any series (or of any series and specified tenor) are to be redeemed in part, neither the
Company nor the Trustee shall be required (A) to issue, register the transfer of or exchange any Securities of that series (or of that series and specified tenor, as the case may be) during a period beginning at the opening of business 15 days
before the day of the mailing of a notice of redemption of any such Securities selected for redemption under Section 11.03 and ending at the close of business on the day of such mailing, or (B) to register the transfer of or
exchange any Security so selected for redemption in whole or in part, except the unredeemed portion of any Security being redeemed in part. 

The provisions of Clauses (a), (b), (c) and (d) below shall apply only to Global Securities: 

(a) Each Global Security authenticated under this Indenture shall be registered in the name of the Depositary designated for such Global
Security or a nominee thereof and delivered to such Depositary or a nominee thereof or custodian therefor, and each such Global Security shall constitute a single Security for all purposes of this Indenture. 

(b) Notwithstanding any other provision in this Indenture, and subject to such applicable provisions, if any, as may be specified as
contemplated by Section 3.01, no Global Security may be exchanged in whole or in part for Securities registered, and no transfer of a Global Security in whole or in part may be registered, in the name of any Person other than the
Depositary for such Global Security or a nominee thereof unless (1) such Depositary has notified the Company that it is unwilling or unable to continue as Depositary for such Global Security or has ceased to be a clearing agency registered
under the Exchange Act, and a successor Depositary is not appointed by the Company within 90 days after the Company’s receipt of such notice, (2) there shall have occurred and be continuing an Event of Default with respect to such Global
Security and the Security Registrar has received a request from the Depositary to issue certificated securities in lieu of the Global Security, (3) the Company shall determine in its sole discretion that Securities of a series issued in global
form shall no longer be represented by a Global Security, or (4) there shall exist such circumstances, if any, in addition to or in lieu of the foregoing as have been specified for this purpose as contemplated by Section 3.01, then
in any such case, such Global Security may be exchanged by such Depositary for definitive Securities of the same series, of any authorized denomination and of a like aggregate principal amount and tenor, registered in the names of, and the transfer
of such Global Security or portion thereof may be registered to, such Persons as such Depositary shall direct. If the Company designates a successor Depositary pursuant to Clause (1) above, such Global Security shall promptly be exchanged in
whole for one or more other Global Securities registered in the name of the successor Depositary, whereupon such designated successor shall be the Depositary for such successor Global Security or Global Securities and the provisions of Clauses (a),
(b), (c) and (d) of this Section shall continue to apply thereto. 
 (c) Subject to Clause (b) above and to such applicable
provisions, if any, as may be specified as contemplated by Section 3.01, any exchange of a Global Security for other Securities may be made in whole or in part, and all Securities issued in exchange for a Global Security or any portion
thereof shall be registered in such names as the Depositary for such Global Security shall direct. 

  
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 (d) Every Security authenticated and delivered upon registration of transfer of, or in
exchange for or in lieu of, a Global Security or any portion thereof, whether pursuant to this Section, Section 3.04, 3.06, 9.06 or 11.07 or otherwise, shall be authenticated and delivered in the form of, and shall
be, a Global Security, unless such Security is registered in the name of a Person other than the Depositary for such Global Security or a nominee thereof. 

Section 3.06 Mutilated, Destroyed, Lost and Stolen Securities. 

If any mutilated Security is surrendered to the Trustee, together with such security or indemnity as may be required by the Company or the
Trustee to save each of them and any agent of either of them harmless, the Company shall execute and the Trustee shall authenticate and deliver in exchange therefor a new Security of the same series and of like tenor and principal amount and bearing
a number not contemporaneously outstanding and shall cancel and dispose of such mutilated security in accordance with its customary procedures. 

If there shall be delivered to the Company and the Trustee (i) evidence to their satisfaction of the destruction, loss or theft of any
Security and (ii) such security or indemnity as may be required by them to save each of them and any agent of either of them harmless, then, in the absence of notice to the Company or the Trustee that such Security has been acquired by a bona
fide purchaser, the Company shall execute and the Trustee shall authenticate and deliver, in lieu of any such mutilated, destroyed, lost or stolen Security, a new Security of the same series and of like tenor and principal amount and bearing a
number not contemporaneously Outstanding. If, after the delivery of such new Security, a bona fide purchaser of the original Security in lieu of which such new Security was issued presents for payment or registration such original Security, the
Trustee shall be entitled to recover such new Security from the party to whom it was delivered or any party taking therefrom, except a bona fide purchaser, and shall be entitled to recover upon the security or indemnity provided therefor to the
extent of any loss, damage, cost or expense incurred by the Company and the Trustee in connection therewith. 
 In case any such mutilated,
destroyed, lost or stolen Security has become or is about to become due and payable, the Company in its discretion may, instead of issuing a new Security, pay such Security. 

Upon the issuance of any new Security, the Company may require the payment of a sum sufficient to cover any tax or other governmental charge
that may be imposed in relation thereto and any other expenses (including the fees and expenses of counsel to the Company and the fees and expenses of the Trustee and its counsel) connected therewith. 

Every new Security of any series issued pursuant to this Section in lieu of any mutilated, destroyed, lost or stolen Security shall constitute
an original additional contractual obligation of the Company, whether or not the mutilated, destroyed, lost or stolen Security shall be at any time enforceable by anyone, and shall be entitled to all the benefits of this Indenture equally and
proportionately with any and all other Securities of that series duly issued hereunder. 
 The provisions of this Section are exclusive and
shall preclude (to the extent lawful) all other rights and remedies with respect to the replacement or payment of mutilated, destroyed, lost or stolen Securities. 

Section 3.07 Payment of Interest; Interest Rights Preserved. 

Except as otherwise provided as contemplated by Section 3.01 with respect to any series of Securities, interest on any Security
which is payable, and is punctually paid or duly provided for, on any Interest Payment Date shall be paid to the Person in whose name that Security (or one or more Predecessor Securities) is registered at the close of business on the Regular Record
Date for such interest. 
 Any interest on any Security of any series which is payable, but is not punctually paid or duly provided
for, on any Interest Payment Date (herein called “Defaulted Interest”) shall forthwith cease to be payable to the Holder on the relevant Regular Record Date by virtue of having been such Holder, and such Defaulted Interest may be
paid by the Company, at its election in each case, as provided in Clause (a) or (b) below: 

  
 19 

 (a) The Company may elect to make payment of any Defaulted Interest to the Persons in whose
names the Securities of such series (or their respective Predecessor Securities) are registered at the close of business on a Special Record Date for the payment of such Defaulted Interest, which shall be fixed in the following manner. The Company
shall notify the Trustee in writing of the amount of Defaulted Interest proposed to be paid on each Security of such series and the date of the proposed payment, and at the same time the Company shall deposit with the Trustee an amount of money
equal to the aggregate amount proposed to be paid in respect of such Defaulted Interest or shall make arrangements satisfactory to the Trustee for such deposit prior to the date of the proposed payment, such money when deposited to be held in trust
for the benefit of the Persons entitled to such Defaulted Interest as in this Clause provided. Thereupon the Trustee, in consultation with the Company, shall fix a Special Record Date for the payment of such Defaulted Interest which shall be not
more than 15 days and not less than 10 days prior to the date of the proposed payment and not less than 10 days after the receipt by the Trustee of the notice of the proposed payment. The Trustee shall promptly notify the Company of such Special
Record Date and, in the name and at the expense of the Company, shall cause notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor to be given to each Holder of Securities of such series in the manner set
forth in Section 1.06, not less than 10 days prior to such Special Record Date. Notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor having been so mailed, such Defaulted Interest shall be paid
to the Persons in whose names the Securities of such series (or their respective Predecessor Securities) are registered at the close of business on such Special Record Date and shall no longer be payable pursuant to the following Clause (b). 

(b) The Company may make payment of any Defaulted Interest on the Securities of any series in any other lawful manner not inconsistent with the
requirements of any securities exchange on which such Securities may be listed, and upon such notice as may be required by such exchange, if, after notice given by the Company to the Trustee of the proposed payment pursuant to this Clause, such
manner of payment shall be deemed practicable by the Trustee. 
 Subject to the foregoing provisions of this Section and
Section 3.05, each Security delivered under this Indenture upon registration of transfer of or in exchange for or in lieu of any other Security shall carry the rights to interest accrued and unpaid, and to accrue, which were carried by
such other Security. 
 For each series of Securities, the Company shall, prior to Noon, New York City time, on each payment date for
principal and premium, if any, and interest, if any, deposit with the Trustee money in immediately available funds sufficient to make cash payments due on the applicable payment date. 

In the case of any Security which is converted after any Regular Record Date and on or prior to the next succeeding Interest Payment Date
(other than any Security whose Maturity is prior to such Interest Payment Date), interest whose Stated Maturity is on such Interest Payment Date shall be payable on such Interest Payment Date notwithstanding such conversion, and such interest
(whether or not punctually paid or made available for payment) shall be paid to the Person in whose name that Security (or one or more Predecessor Securities) is registered at the close of business on such Regular Record Date. Except as otherwise
expressly provided in the immediately preceding sentence, in the case of any Security which is converted, interest whose Stated Maturity is after the date of conversion of such Security shall not be payable. Notwithstanding the foregoing, the terms
of any Security that may be converted may provide that the provisions of this paragraph do not apply, or apply with such additions, changes or omissions as may be provided thereby, to such Security. 

Section 3.08 Persons Deemed Owners. 

Except as otherwise contemplated by Section 3.01 with respect to any series of Securities, prior to due presentment of a Security
for registration of transfer, the Company, the Trustee and any agent of the Company or the Trustee may treat the Person in whose name such Security is registered as the owner of such Security for the purpose of receiving payment of principal of and
any premium and (subject to Sections 3.05 and 3.07) any interest on such Security and for all other purposes whatsoever, whether or not such Security be overdue, and neither the Company, the Trustee nor any agent of the Company or the
Trustee shall be affected by notice to the contrary. 

  
 20 

 No holder of any beneficial interest in any Global Security held on its behalf by a
Depositary shall have any rights under this Indenture with respect to such Global Security, and such Depositary may be treated by the Company, the Trustee and any agent of the Company or the Trustee as the owner of such Global Security for all
purposes whatsoever. None of the Company, the Trustee nor any agent of the Company or the Trustee will have any responsibility or liability for any aspect of the records relating to or payments made on account of beneficial ownership interests of a
Global Security or for maintaining, supervising or reviewing any records relating to such beneficial ownership interests. 

Section 3.09 Cancellation. 

All Securities surrendered for payment, redemption, registration of transfer or exchange or conversion or for credit against any sinking fund
payment shall, if surrendered to any Person other than the Trustee, be delivered to the Trustee and, if not already cancelled, shall be promptly cancelled by it. The Company may at any time deliver to the Trustee for cancellation any Securities
previously authenticated and delivered hereunder which the Company may have acquired in any manner whatsoever, and may deliver to the Trustee (or to any other Person for delivery to the Trustee) for cancellation any Securities previously
authenticated hereunder which the Company has not issued and sold, and all Securities so delivered shall be promptly cancelled by the Trustee. No Securities shall be authenticated in lieu of or in exchange for any Securities cancelled as provided in
this Section, except as expressly permitted by this Indenture. All cancelled Securities held by the Trustee shall be disposed of in accordance with its customary procedures as directed by a Company Order, and the Trustee shall thereafter deliver to
the Company a certificate with respect to such disposition. 
 Section 3.10 Computation of Interest. 

Except as otherwise specified as contemplated by Section 3.01 for Securities of any series, interest on the Securities of each
series shall be computed on the basis of a 360-day year of twelve 30-day months. 
 Section 3.11 CUSIP Numbers. 

The Company in issuing the Securities may use “CUSIP” or “ISIN” numbers (in addition to the other identification numbers
printed on the Securities), if then in use, and, if so, the Trustee shall use such “CUSIP” or “ISIN” numbers in notices of redemption as a convenience to Holders; provided, however, that any such notice may state that no
representation is made as to the correctness of such “CUSIP” or “ISIN” numbers either as printed on the Securities or as contained in any notice of a redemption and that reliance may be placed only on the other identification
numbers printed on the Securities, and any such redemption shall not be affected by any defect in or omission of such “CUSIP” or “ISIN” numbers. The Company will promptly notify the Trustee of any change in the “CUSIP”
or “ISIN” numbers. 
 Section 3.12 Original Issue Discount. 

If any of the Securities is an Original Issue Discount Security, the Company shall file with the Trustee promptly at the end of each calendar
year (1) a written notice specifying the amount of original issue discount (including daily rates and accrual periods) accrued on such Outstanding Original Issue Discount Securities as of the end of such year and (2) such other specific
information relating to such original issue discount as may then be relevant under the Internal Revenue Code. 
 ARTICLE IV. SATISFACTION
AND DISCHARGE 
 Section 4.01 Satisfaction and Discharge of Indenture. 

This Indenture shall, upon Company Request, cease to be of further effect with respect to Securities of any series (except as to any surviving
rights of registration of transfer or exchange of Securities herein expressly provided for), and the Trustee, at the expense of the Company, shall execute proper instruments acknowledging satisfaction and discharge of this Indenture with respect to
such Securities, when: 
 (a) either: 

  
 21 

 (i) all such Securities theretofore authenticated and delivered (other than (i) such
Securities which have been mutilated, destroyed, lost or stolen and which have been replaced or paid as provided in Section 3.06 and (ii) such Securities for whose payment money has theretofore been deposited in trust or segregated
and held in trust by the Company and thereafter repaid to the Company or discharged from such trust, as provided in Section 10.03) have been delivered to the Trustee cancelled or for cancellation; or 

(ii) all such Securities not theretofore delivered to the Trustee as cancelled or for cancellation: 

(1) have become due and payable; or 

(2) will become due and payable at their Stated Maturity within one year; or 

(3) are to be called for redemption within one year under arrangements satisfactory to the Trustee for the giving of notice of
redemption by the Trustee in the name, and at the expense, of the Company, 
 and the Company in the case of (1), (2) or (3) above,
has deposited or caused to be deposited with the Trustee, as trust funds in trust for such purpose, an amount of money in the currency or currency units in which such Securities are payable sufficient to pay and discharge the entire indebtedness on
such Securities not theretofore delivered to the Trustee as cancelled or for cancellation, for principal and any premium and interest to the date of such deposit (in the case of such Securities which have become due and payable) or to the Stated
Maturity or Redemption Date, as the case may be; 
 (b) the Company has paid or caused to be paid, or otherwise made provision for the
payment of, all other sums payable hereunder by the Company with respect to such Securities; and 
 (c) the Company has delivered to the
Trustee an Officer’s Certificate and an Opinion of Counsel each stating that all conditions precedent herein provided for relating to the satisfaction and discharge of this Indenture with respect to such Securities have been complied with. 

Notwithstanding the satisfaction and discharge of this Indenture with respect to Securities of any series, the obligations of the Company to
the Trustee under Section 6.07, the obligations of the Trustee to any Authenticating Agent under Section 6.14 and the right of the Trustee to resign under Section 6.10 shall survive, and, if money shall have been
deposited with the Trustee pursuant to subclause (2) of Clause (a) of this Section, the obligations of the Trustee under Section 4.02 and the last paragraph of Section 10.03 shall survive such satisfaction and
discharge. 

  
 22 

 Section 4.02 Application of Trust Money. 

Subject to the provisions of the last paragraph of Section 10.03, all money deposited with the Trustee pursuant to
Section 4.01 shall be held in trust and applied by it, in accordance with the provisions of the Securities and this Indenture, to the payment, either directly or through any Paying Agent (including the Company acting as its own Paying
Agent) as the Trustee may determine, to the Persons entitled thereto, of the principal and any premium and interest for whose payment such money has been deposited with the Trustee. All money deposited with the Trustee pursuant to
Section 4.01 (and held by it or any Paying Agent) for the payment of such Securities subsequently converted into other property shall be returned to the Company upon Company Request. The Company may direct by a Company Order the
investment of any money deposited with the Trustee pursuant to Section 4.01, without distinction between principal and income, in (1) United States Treasury Securities with a maturity of one year or less or (2) a money market
fund that invests solely in short term United States Treasury Securities (including money market funds for which the Trustee or an affiliate of the Trustee serves as investment advisor, administrator, shareholder, servicing agent and/or custodian or
sub-custodian, notwithstanding that (a) the Trustee charges and collects fees and expenses from such funds for services rendered and (b) the Trustee charges and collects fees and expenses for services rendered pursuant to this Indenture at
any time), and from time to time the Company may direct the reinvestment of all or a portion of such money in other securities or funds meeting the criteria specified in Clause (1) or (2) of this Section. 

ARTICLE V. REMEDIES 

Section 5.01 Events of Default. 

Except as may otherwise be provided pursuant to Section 3.01 for Securities of any series, an “Event of Default”,
wherever used herein or in a Security issued hereunder with respect to Securities of any series, means any one of the following events (whatever the reason for such Event of Default and whether it shall be voluntary or involuntary or be effected by
operation of law or pursuant to any judgment, decree or order of any court or any order, rule or regulation of any administrative or governmental body): 

(a) default in the payment of any interest upon any Security of that series when it becomes due and payable, and continuance of such default
for a period of 30 days; 
 (b) default in the payment of the principal of or any premium on any Security of that series at its Maturity;

 (c) default in the deposit of any sinking fund payment, when and as due by the terms of a Security of that series; 

(d) default in the performance, or breach, of any covenant of the Company in this Indenture (other than a default in the performance or the
breach of a covenant which is specifically dealt with elsewhere in this Section or which has expressly been included in this Indenture solely for the benefit of series of Securities other than that series), and continuance of such default or breach
for a period of 90 days after there has been given to the Company by the Trustee or to the Company and the Trustee by the Holders of at least 25% in aggregate principal amount of the Outstanding Securities of that series a written notice specifying
such default or breach and requiring it to be remedied and stating that such notice is a “Notice of Default” hereunder; 
 (e) the
entry by a court having jurisdiction in the premises of (1) a decree or order for relief in respect of the Company in an involuntary case or proceeding under any applicable Federal or State bankruptcy, insolvency, reorganization or other
similar law or (2) a decree or order adjudging the Company bankrupt or insolvent, or approving as properly filed a petition seeking reorganization, arrangement, adjustment or composition of or in respect of the Company under any applicable
Federal or State law, or appointing a custodian, receiver, liquidator, assignee, trustee, sequestrator or other similar official of the Company or of any substantial part of its property, or ordering the winding up or liquidation of its affairs, and
the continuance of any such decree or order for relief or any such other decree or order unstayed and in effect for a period of 90 consecutive days; 

  
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 (f) the commencement by the Company of a voluntary case or proceeding under any applicable
Federal or State bankruptcy, insolvency, reorganization or other similar law or of any other case or proceeding to be adjudicated a bankrupt or insolvent, or the consent by it to the entry of a decree or order for relief in respect of the Company in
an involuntary case or proceeding under any applicable Federal or State bankruptcy, insolvency, reorganization or other similar law or to the commencement of any bankruptcy or insolvency case or proceeding against it, or the filing by it of a
petition or answer or consent seeking reorganization, arrangement, adjustment or composition of or in respect of the Company under any applicable Federal or State law, or the consent by it to the filing of such petition or to the appointment of or
taking possession by a custodian, receiver, liquidator, assignee, trustee, sequestrator or other similar official of the Company of any substantial part of its property, or the making by it of an assignment for the benefit of creditors, or the
admission by it in writing of its inability to pay its debts generally as they become due, or the taking of corporate action by the Company in furtherance of any such action; or 

(g) any other Event of Default provided as contemplated by Section 3.01 with respect to Securities of that series. 

Section 5.02 Acceleration of Maturity; Rescission and Annulment. 

If an Event of Default (other than an Event of Default specified in Section 5.01(e) or 5.01(f)) with respect to Securities
of any series at the time Outstanding occurs and is continuing, then in every such case the Trustee or the Holders of not less than 25% in aggregate principal amount of the Outstanding Securities of that series may declare the principal amount of
all the Securities of that series (or, if any Securities of that series are Original Issue Discount Securities, such portion of the principal amount of such Securities as may be specified by the terms thereof) to be due and payable immediately, by a
notice in writing to the Company (and to the Trustee if given by Holders), and upon any such declaration such principal amount (or specified amount) shall become immediately due and payable. If an Event of Default specified in
Section 5.01(e) or 5.01(f) with respect to Securities of any series at the time Outstanding occurs, the principal amount of all the Securities of that series (or, if any Securities of that series are Original Issue Discount
Securities, such portion of the principal amount of such Securities as may be specified by the terms thereof) shall automatically, and without any declaration or other action on the part of the Trustee or any Holder, become immediately due and
payable. Upon payment of such amount, all obligations of the Company in respect of the payment of principal and interest of the Securities of such series shall terminate. 

Except as may otherwise be provided pursuant to Section 3.01 for all or any specific Securities of any series, at any time after
such a declaration of acceleration with respect to Securities of any series has been made and before a judgment or decree for payment of the money due has been obtained by the Trustee as hereinafter in this Article provided, the Holders of a
majority in aggregate principal amount of the Outstanding Securities of that series, by written notice to the Company and the Trustee, may rescind and annul such declaration and its consequences if 

(a) the Company has paid or deposited with the Trustee a sum sufficient to pay all: 

(i) overdue interest on all Securities of that series; 

(ii) the principal of (and premium, if any, on) any Securities of that series which have become due otherwise than by such declaration of
acceleration and any interest thereon at the rate or rates prescribed therefor in such Securities; 
 (iii) to the extent that payment of
such interest is lawful, interest upon overdue interest at the rate or rates prescribed therefor in such Securities; and 
 (iv) all sums
paid or advanced by the Trustee hereunder and the reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and counsel, and 

(b) all Events of Default with respect to Securities of that series, other than the non-payment of the principal of Securities of that series
which have become due solely by such declaration of acceleration, have been cured or waived as provided in Section 5.13. 

  
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 No such rescission shall affect any subsequent default or impair any right consequent thereon. 

Section 5.03 Collection of Indebtedness and Suits for Enforcement by Trustee. 

The Company covenants that if: 

(a) default is made in the payment of any interest on any Security when such interest becomes due and payable and such default continues for a
period of 30 days; or 
 (b) default is made in the payment of the principal of (or premium, if any, on) any Security at the Maturity
thereof, 
 then the Company will, upon demand of the Trustee, pay to the Trustee, for the benefit of the Holders of such Securities, the whole amount then
due and payable on such Securities for principal and any premium and interest and, to the extent that payment of such interest shall be legally enforceable, interest on any overdue principal and premium and on any overdue interest, at the rate or
rates prescribed therefor in such Securities, and, in addition thereto, such further amount as shall be sufficient to cover the costs and expenses of collection, including the reasonable compensation, expenses, disbursements and advances of the
Trustee, its agents and counsel. 
 If the Company fails to pay such amounts forthwith upon such demand, the Trustee, in its own name and as
trustee of an express trust, may institute a judicial proceeding for the collection of the sums so due and unpaid, and may prosecute such proceeding to judgment or final decree, and may enforce the same against the Company or any other obligor upon
the Securities and collect the moneys adjudged or decreed to be payable in the manner provided by law out of the property of the Company or any other obligor upon the Securities, wherever situated. 

If an Event of Default with respect to Securities of any series occurs and is continuing, the Trustee may in its discretion proceed to protect
and enforce its rights and the rights of the Holders of Securities of such series by such appropriate judicial proceedings as the Trustee shall deem most effectual to protect and enforce any such rights, whether for the specific enforcement of any
covenant or agreement in this Indenture or in aid of the exercise of any power granted herein, or to enforce any other proper remedy. 

Section 5.04 Trustee May File Proofs of Claim. 

In case of any judicial proceeding relative to the Company (or any other obligor upon the Securities), its property or its creditors, the
Trustee (irrespective of whether the principal of the Securities shall then be due and payable as therein expressed or by declaration or otherwise and irrespective of whether the Trustee shall have made any demand for overdue principal or interest)
shall be entitled and empowered, by intervention in such proceeding or otherwise, to take any and all actions authorized under the Trust Indenture Act in order to have claims of the Holders and the Trustee allowed in any such proceeding. In
particular, the Trustee shall be authorized to collect and receive any moneys or other property payable or deliverable on any such claims and to distribute the same; and any custodian, receiver, assignee, trustee, liquidator, sequestrator or other
similar official in any such judicial proceeding is hereby authorized by each Holder to make such payments to the Trustee and, in the event that the Trustee shall consent to the making of such payments directly to the Holders, to pay to the Trustee
any amount due it for the reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and counsel, and any other amounts due the Trustee under Section 6.07. 

No provision of this Indenture shall be deemed to authorize the Trustee to authorize or consent to or accept or adopt on behalf of any Holder
any plan of reorganization, arrangement, adjustment or composition affecting the Securities or the rights of any Holder thereof or to authorize the Trustee to vote in respect of the claim of any Holder in any such proceeding; provided, however, that
the Trustee may, on behalf of the Holders, vote for the election of a trustee in bankruptcy or similar official and be a member of a creditors’ or other similar committee. 

  
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 Section 5.05 Trustee May Enforce Claims Without Possession of Securities. 

All rights of action and claims under this Indenture or the Securities may be prosecuted and enforced by the Trustee without the possession of
any of the Securities or the production thereof in any proceeding relating thereto, and any such proceeding instituted by the Trustee shall be brought in its own name as trustee of an express trust, and any recovery shall after provision for the
payment of the reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and counsel, be for the ratable benefit of the Holders of the Securities in respect of which such judgment has been recovered. 

Section 5.06 Application of Money Collected. 

Any money or property collected or to be applied by the Trustee pursuant to this Article shall be applied in the following order, at the date
or dates fixed by the Trustee and, in case of the distribution of such money on account of principal or any premium or interest, upon presentation of the Securities and the notation thereon of the payment if only partially paid and upon surrender
thereof if fully paid: 
 First: To the payment of all amounts due the Trustee under Section 6.07; 

Second: To the payment of the amounts then due and unpaid for principal of and any premium and interest on the Securities in respect of
which or for the benefit of which such money has been collected, ratably, without preference or priority of any kind (other than contractual subordination agreements pursuant to the Indenture), according to the amounts due and payable on such
Securities for principal and any premium and interest, respectively; and 
 Third: The balance, if any, to the Company.

 Section 5.07 Limitation on Suits. 

No Holder of any Security of any series shall have any right to institute any proceeding, judicial or otherwise, with respect to this
Indenture, or for the appointment of a receiver, assignee, trustee, liquidator or sequestrator (or similar official) or for any other remedy hereunder, unless: 

(a) such Holder has previously given written notice to the Trustee of a continuing Event of Default with respect to the Securities of that
series; 
 (b) the Holders of not less than 25% in aggregate principal amount of the Outstanding Securities of that series shall have made
written request to the Trustee to institute proceedings in respect of such Event of Default in its own name as Trustee hereunder; 
 (c) such
Holder or Holders have offered, and if requested, provided to the Trustee reasonable security or indemnity against the costs, expenses and liabilities to be incurred in compliance with such request; 

(d) the Trustee for 60 days after its receipt of such notice, request and offer and, if requested, provision of security or indemnity, has
failed to institute any such proceeding; and 
 (e) no direction inconsistent with such written request has been given to the Trustee during
such 60-day period by the Holders of a majority in aggregate principal amount of the Outstanding Securities of that series, 
 it being understood and
intended that no one or more of such Holders shall have any right in any manner whatever by virtue of, or by availing of, any provision of this Indenture to affect, disturb or prejudice the rights of any other of such Holders, or to obtain or to
seek to obtain priority or preference over any other of such Holders or to enforce any right under this Indenture, except in the manner herein provided and for the equal and ratable benefit of all of such Holders. 

  
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 Section 5.08 Unconditional Right of Holders to Receive Principal Premium and
Interest and to Convert Securities. 
 Notwithstanding any other provision in this Indenture, the Holder of any Security shall have the
right, which is absolute and unconditional to receive payment of the principal of and any premium and (subject to Sections 3.05 and 3.07) interest on such Security on the respective Stated Maturities expressed in such Security (or, in
the case of redemption, on the Redemption Date or, if the terms of such Security so provide, to convert such Security in accordance with its terms) and to institute suit for the enforcement of any such payment and, if applicable, any such right to
convert, and such rights shall not be impaired without the consent of such Holder. 
 Section 5.09 Restoration of Rights and
Remedies. 
 If the Trustee or any Holder has instituted any proceeding to enforce any right or remedy under this Indenture and such
proceeding has been discontinued or abandoned for any reason, or has been determined adversely to the Trustee or to such Holder, then and in every such case, subject to any determination in such proceeding, the Company, the Trustee and the Holders
shall be restored severally and respectively to their former positions hereunder and thereafter all rights and remedies of the Trustee and the Holders shall continue as though no such proceeding had been instituted. 

Section 5.10 Rights and Remedies Cumulative. 

Except as otherwise provided with respect to the replacement or payment of mutilated, destroyed, lost or stolen Securities in the last
paragraph of Section 3.06, no right or remedy herein conferred upon or reserved to the Trustee or to the Holders is intended to be exclusive of any other right or remedy, and every right and remedy shall, to the extent permitted by law,
be cumulative and in addition to every other right and remedy given hereunder or now or hereafter existing at law or in equity or otherwise. The assertion or employment of any right or remedy hereunder, or otherwise, shall not prevent the concurrent
assertion or employment of any other appropriate right or remedy. 
 Section 5.11 Delay or Omission Not Waiver. 

No delay or omission of the Trustee or of any Holder of any Securities to exercise any right or remedy accruing upon any Event of Default shall
impair any such right or remedy or constitute a waiver of any such Event of Default or an acquiescence therein. Every right and remedy given by this Article or by law to the Trustee or to the Holders may be exercised from time to time, and as often
as may be deemed expedient, by the Trustee or by the Holders, as the case may be. 
 Section 5.12 Control by Holders. 

Subject to Section 6.03, the Holders of not less than a majority in aggregate principal amount of the Outstanding Securities of any
series shall have the right to direct the time, method and place of conducting any proceeding for any remedy available to the Trustee, or exercising any trust or power conferred on the Trustee, with respect to the Securities of such series; provided
that: 
 (a) such direction shall not be in conflict with any rule of law or with this Indenture; and 

(b) the Trustee may take any other action deemed proper by the Trustee which is not inconsistent with such direction. 

Section 5.13 Waiver of Past Defaults. 

The Holders of not less than a majority in aggregate principal amount of the Outstanding Securities of any series may on behalf of the Holders
of all the Securities of such series waive any past default hereunder with respect to such series and its consequences, except a default: 

(a) in the payment of the principal of or any premium or interest on any Security of such series; or 

(b) in respect of a covenant or provision hereof which under Article IX cannot be modified or amended without the consent of the Holder
of each Outstanding Security of such series affected. 

  
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 Upon any such waiver, such default shall cease to exist, and any Event of Default arising
therefrom shall be deemed to have been cured, for every purpose of this Indenture; but no such waiver shall extend to any subsequent or other default or impair any right consequent thereon. 

Section 5.14 Undertaking for Costs. 

In any suit for the enforcement of any right or remedy under this Indenture, or in any suit against the Trustee for any action taken, suffered
or omitted by it as Trustee, a court may require any party litigant in such suit to file an undertaking to pay the costs of such suit (including the reasonable compensation, expenses and disbursements of its agents and counsel), and may assess
reasonable costs against any such party litigant, in the manner and to the extent provided in the Trust Indenture Act; provided that neither this Section nor the Trust Indenture Act shall be deemed to authorize any court to require such an
undertaking or to make such an assessment in any suit instituted by the Company or the Trustee, a suit by a Holder under Section 5.08, or a suit by Holders of more than 10% in aggregate principal amount of the Outstanding Securities.

 Section 5.15 Waiver of Usury, Stay or Extension Laws. 

The Company covenants (to the extent that it may lawfully do so) that it will not at any time insist upon, or plead, or in any manner
whatsoever claim or take the benefit or advantage of, any usury, stay or extension law wherever enacted, now or at any time hereafter in force, which may affect the covenants or the performance of this Indenture; and the Company (to the extent that
it may lawfully do so) hereby expressly waives all benefit or advantage of any such law and covenant that it will not hinder, delay or impede the execution of any power herein granted to the Trustee, but will suffer and permit the execution of every
such power as though no such law had been enacted. 
 ARTICLE VI. THE TRUSTEE 

Section 6.01 Certain Duties and Responsibilities. 

(a) Except during the continuance of an Event of Default with respect to any series of Securities: 

(i) the Trustee undertakes to perform such duties and only such duties as are specifically set forth in this Indenture with respect to the
Securities of such series, and no implied covenants or obligations shall be read into this Indenture against the Trustee with respect to such series; and 

(ii) in the absence of bad faith on its part, the Trustee may conclusively rely, as to the truth of the statements and the correctness of the
opinions expressed therein, upon certificates or opinions furnished to the Trustee and conforming to the requirements of this Indenture; but in the case of any such certificates or opinions which by any provision hereof are specifically required to
be furnished to the Trustee, the Trustee shall be under a duty to examine the same to determine whether or not they conform to the requirements of this Indenture. 

(b) In case an Event of Default with respect to any series of Securities has occurred and is continuing, the Trustee shall exercise with
respect to the Securities of such series such of the rights and powers vested in it by this Indenture, and use the same degree of care and skill in their exercise, as a prudent man would exercise under the circumstances in the conduct of his own
affairs. 
 (c) No provision of this Indenture shall be construed to relieve the Trustee from liability for its own negligent action, its own
negligent failure to act, or its own willful misconduct, except that: 
 (i) this Subsection shall not be construed to limit the effect of
Subsection (a) of this Section; 
 (ii) the Trustee shall not be liable for any error of judgment made in good faith by a Responsible
Officer, unless it shall be proved that the Trustee was negligent in ascertaining the pertinent facts; 

  
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 (iii) the Trustee shall not be liable with respect to any action taken or omitted to be
taken by it in good faith in accordance with the direction of the Holders of a majority in aggregate principal amount of the Outstanding Securities of any Series relating to the time, method and place of conducting any proceeding for any remedy
available to the Trustee, or exercising any trust or power conferred upon the Trustee, under this Indenture with respect to the Securities of such series; and 

(iv) no provision of this Indenture shall require the Trustee to expend or risk its own funds or otherwise incur any financial liability in the
performance of any of its duties hereunder, or in the exercise of any of its rights and powers, if it shall have reasonable grounds for believing that repayment of such funds or adequate indemnity against such risk or liability is not reasonably
assured to it. 
 (d) Whether or not therein expressly so provided, every provision of this Indenture relating to the conduct or affecting
the liability of or affording protection to the Trustee shall be subject to the provisions of this Section. 
 Section 6.02 Notice
of Defaults. 
 Within 90 days after the occurrence, and during the continuance, of any default with respect to the Securities of any
series that is known to the Trustee, the Trustee shall transmit, in the manner and to the extent provided in Section 313(c) of the Trust Indenture Act, notice of all such uncured or unwaived defaults; provided, however, that, except in the case
of a default in the payment of the principal of (or premium, if any) or interest on Securities of any series or in the payment of any sinking or purchase fund installment with respect to such Securities, the Trustee shall be protected in withholding
such notice if and so long as the board of directors, the executive committee or a trust committee of directors and/or Responsible Officers of the Trustee in good faith determine that the withholding of such notice is in the interests of the Holders
of Securities of such series; and provided, further, however, that in the case of any default of the character specified in Section 5.01(d) with respect to the Securities of such series, no such notice to Holders of Securities shall be
given until at least 60 days after the occurrence thereof. For the purpose of this Section, the term “default” means any event which is, or after notice or lapse of time or both would become, an Event of Default. 

Section 6.03 Certain Rights of Trustee. 

Subject to the provisions of Section 6.01: 

(a) the Trustee may rely and shall be protected in acting or refraining from acting upon any resolution, certificate, statement, instrument,
opinion, report, notice, request, direction, consent, order, bond, debenture, note, other evidence of indebtedness or other paper or document believed by it to be genuine and to have been signed or presented by the proper party or parties; 

(b) any request, direction, order or demand of the Company mentioned herein shall be sufficiently evidenced by a Company Request or Company
Order, and any resolution of the Board of Directors shall be sufficiently evidenced by a Board Resolution; 
 (c) whenever in the
administration of this Indenture the Trustee shall deem it desirable that a matter be proved or established prior to taking, suffering or omitting any action hereunder, the Trustee (unless other evidence be herein specifically prescribed) may, in
the absence of bad faith on its part, rely upon an Officer’s Certificate; 
 (d) the Trustee may consult with counsel and the written
advice of such counsel or any Opinion of Counsel shall be full and complete authorization and protection in respect of any action taken, suffered or omitted by it hereunder in good faith and in reliance thereon; 

  
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 (e) the Trustee shall be under no obligation to exercise any of the rights or powers vested
in it by this Indenture at the request or direction of any of the Holders pursuant to this Indenture, unless such Holders shall have offered to the Trustee reasonable security or indemnity satisfactory to it against the costs, expenses and
liabilities which might be incurred by it in compliance with such request or direction; 
 (f) the Trustee shall not be bound to make any
investigation into the facts or matters stated in any resolution, certificate, statement, instrument, opinion, report, notice, request, direction, consent, order, bond, debenture, note, other evidence of indebtedness or other paper or document, but
the Trustee, in its discretion, may, without obligation to do so, make such further inquiry or investigation into such facts or matters as it may see fit, and, if the Trustee shall determine to make such further inquiry or investigation, it shall be
entitled to examine the books, records and premises of the Company, personally or by agent or attorney; 
 (g) the Trustee may execute any of
the trusts or powers hereunder or perform any duties hereunder either directly or by or through agents or attorneys and the Trustee shall not be responsible for any misconduct or negligence on the part of any agent or attorney appointed with due
care by it hereunder; 
 (h) the rights, privileges, protections, immunities and benefits given to the Trustee, including, without
limitation, its right to be indemnified, are extended to, and shall be enforceable by, the Trustee in each of its capacities hereunder and to its agents; 

(i) the Trustee shall not be liable for any action taken, suffered, or omitted to be taken by it in good faith and reasonably believed by it to
be authorized or within the discretion or rights or powers conferred upon it by this Indenture; 
 (j) in no event shall the Trustee be
responsible or liable for special, indirect, or consequential loss or damage of any kind whatsoever (including, but not limited to, loss of profit) irrespective of whether the Trustee has been advised of the likelihood of such loss or damage and
regardless of the form of action; 
 (k) in no event shall the Trustee be responsible or liable for any failure or delay in the performance
of its obligations hereunder arising out of or caused by, directly or indirectly, forces beyond its control, including, without limitation, strikes, work stoppages, accidents, acts of war or terrorism, civil or military disturbances, nuclear or
natural catastrophes or acts of God, and interruptions, loss or malfunctions of utilities, communications or computer (software and hardware) services (it being understood that the Trustee shall use reasonable efforts which are consistent with
accepted practices in the banking industry to avoid and mitigate the effects of such occurrences and to resume performance as soon as practicable under the circumstances); 

(l) the Trustee shall not be deemed to have notice of any Default or Event of Default unless written notice of any event which is in fact such
a default shall have been received by a Responsible Officer of the Trustee at the Corporate Trust Office of the Trustee, and such notice references the Securities and this Indenture; 

(m) the Trustee may request that the Company deliver a certificate setting forth the names of individuals and/or titles of officers authorized
at such time to take specified actions pursuant to this Indenture; and 
 (n) the Trustee agrees to accept and act upon instructions or
directions pursuant to this Indenture sent by unsecured e-mail (PDF only), facsimile transmission or other similar unsecured electronic methods; provided, however, that the Company shall provide to the Trustee an incumbency certificate listing
designated persons with the authority to provide such instructions, which incumbency certificate shall be amended whenever a person is to be added or deleted from the listing. If the Company elects to give the Trustee e-mail or facsimile
transmission instructions (or instructions by a similar electronic method) and the Trustee in its sole and absolute discretion elects to act upon such instructions, the Trustee’s understanding of such instructions shall be deemed controlling.
The Trustee shall not be liable for any losses, damages, costs, fees or expenses arising directly or indirectly from the Trustee’s reliance upon and compliance with such instructions notwithstanding such instructions conflict or inconsistency
with a subsequent written instruction. The Company agrees to assume all risks arising out of the use of such electronic methods to submit instructions and directions to the Trustee, including, without limitation, the risk of the Trustee acting on
unauthorized instructions, and the risk of interception by third parties. 

  
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 Section 6.04 Not Responsible for Recitals or Issuance of Securities. 

The recitals contained herein and in the Securities, except the Trustee’s certificates of authentication, shall be taken as the statements
of the Company and neither the Trustee nor any Authenticating Agent assumes any responsibility for their correctness. Neither the Trustee nor any Authenticating Agent makes any representations as to the validity or sufficiency of this Indenture or
of the Securities. Neither the Trustee nor any Authenticating Agent shall be accountable for the use or application by the Company of Securities or the proceeds thereof. 

Section 6.05 May Hold Securities. 

The Trustee, any Authenticating Agent, any Paying Agent, any Security Registrar or any other agent of the Company, in its individual or any
other capacity, may become the owner or pledgee of Securities and, subject to Sections 6.08 and 6.13, may otherwise deal with the Company with the same rights it would have if it were not Trustee, Authenticating Agent, Paying Agent,
Security Registrar or such other agent. 
 Section 6.06 Money Held in Trust. 

Money held by the Trustee in trust hereunder need not be segregated from other funds except to the extent required by law. The Trustee shall be
under no liability for interest on any money received by it hereunder except as otherwise agreed with the Company. 
 Section 6.07
Compensation and Reimbursement. 
 The Company agrees: 

(i) to pay to the Trustee from time to time such reasonable compensation as shall be agreed in writing between the parties for all services
rendered by it hereunder (which compensation shall not be limited by any provision of law in regard to the compensation of a trustee of an express trust); 

(ii) except as otherwise expressly provided herein, to reimburse the Trustee upon its request for all reasonable expenses, disbursements and
advances incurred or made by the Trustee in accordance with any provision of this Indenture (including the reasonable compensation and the reasonable expenses and disbursements of its agents and counsel), except any such expense, disbursement or
advance as may be attributable to its own negligence or willful misconduct, and the Trustee shall provide the Company reasonable notice of any expenditure not in the ordinary course of business; and 

(iii) to indemnify the Trustee for, and to hold it harmless against, any loss, liability or expense incurred without negligence or willful
misconduct on its part, arising out of or in connection with the acceptance or administration of the trust or trusts hereunder, including the reasonable costs and expenses of defending itself against any claim or liability in connection with the
exercise or performance of any of its powers or duties hereunder. 
 The obligations of the Company under this Section to compensate the
Trustee and to pay or reimburse the Trustee for expenses, disbursements and advances shall constitute additional indebtedness hereunder. 

Without limiting any rights available to the Trustee under applicable law, when the Trustee incurs expenses or renders services in connection
with an Event of Default specified in Section 5.01(e) or Section 5.01(f), the expenses (including the reasonable charges and expenses of its counsel) and the compensation for such services are intended to constitute expenses
of administration under any applicable Federal or State bankruptcy, insolvency, reorganization or other similar law. 
 The provisions of
this Section shall survive the satisfaction and discharge of this Indenture and the defeasance of the Securities. 

  
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 Section 6.08 Conflicting Interests. 

If the Trustee has or shall acquire a conflicting interest within the meaning of the Trust Indenture Act, the Trustee shall either eliminate
such interest or resign, to the extent and in the manner provided by, and subject to the provisions of, the Trust Indenture Act and this Indenture. To the extent permitted by the Trust Indenture Act, the Trustee shall not be deemed to have a
conflicting interest by virtue of being a trustee under this Indenture with respect to Securities of more than one series. 

Section 6.09 Corporate Trustee Required, Eligibility. 

There shall at all times be one (and only one) Trustee hereunder with respect to the Securities of each series, which may be Trustee hereunder
for Securities of one or more other series. Each Trustee shall be a Person that is eligible pursuant to the Trust Indenture Act to act as such and has a combined capital and surplus of at least $50,000,000. If any such Person publishes reports of
condition at least annually, pursuant to law or to the requirements of its supervising or examining authority, then for the purposes of this Section and to the extent permitted by the Trust Indenture Act, the combined capital and surplus of such
Person shall be deemed to be its combined capital and surplus as set forth in its most recent report of condition so published. If at any time the Trustee with respect to the Securities of any series shall cease to be eligible in accordance with the
provisions of this Section, it shall resign immediately in the manner and with the effect hereinafter specified in this Article. 

Section 6.10 Resignation and Removal, Appointment of Successor. 

No resignation or removal of the Trustee and no appointment of a successor Trustee pursuant to this Article shall become effective until the
acceptance of appointment by the successor Trustee in accordance with the applicable requirements of Section 6.11. 
 The
Trustee may resign at any time with respect to the Securities of one or more series by giving written notice thereof to the Company. If the instrument of acceptance by a successor Trustee required by Section 6.11 shall not have been
delivered to the Trustee within 30 days after the giving of such notice of resignation, the resigning Trustee may petition any court of competent jurisdiction for the appointment of a successor Trustee with respect to the Securities of such series.

 The Trustee may be removed at any time with respect to the Securities of any series by Act of the Holders of a majority in aggregate
principal amount of the Outstanding Securities of such series, by written notice delivered to the Trustee and to the Company. If an instrument of acceptance by a successor Trustee shall not have been delivered to the Trustee within 30 days after
giving of such notice of removal, the removed Trustee may petition any court of competent jurisdiction for the appointment of a successor Trustee. 

If at any time: 
 (a) the Trustee
shall fail to comply with Section 6.08 after written request therefor by the Company or by any Holder who has been a bona fide Holder of a Security for at least six months; 

(b) the Trustee shall cease to be eligible under Section 6.09 and shall fail to resign after written request therefor by the
Company or by any such Holder; or 
 (c) the Trustee shall become incapable of acting or shall be adjudged bankrupt or insolvent or a
receiver of the Trustee or of its property shall be appointed or any public officer shall take charge or control of the Trustee or of its property or affairs for the purpose of rehabilitation, conservation or liquidation, 

then, in any such case, (1) the Company by a Board Resolution may remove the Trustee with respect to all Securities of which such Trustee acts as
trustee, or (2) subject to Section 5.14, Holders of 10% in aggregate principal amount of Securities of any series who have been bona fide Holders of such Securities for at least six months may, on behalf of themselves and all others
similarly situated, petition any court of competent jurisdiction for the removal of the Trustee with respect to all Securities of which such Trustee acts as trustee and the appointment of a successor Trustee or Trustees. 

 

  
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 If the Trustee shall resign, be removed or become incapable of acting, or if a vacancy shall
occur in the office of Trustee for any cause, with respect to the Securities of one or more series, the Company shall promptly appoint a successor Trustee or Trustees with respect to the Securities of that or those series (it being understood that
any such successor Trustee may be appointed with respect to the Securities of one or more or all of such series and that at any time there shall be only one Trustee with respect to the Securities of any particular series) and shall comply with the
applicable requirements of Section 6.11. If, within one year after such resignation, removal or incapability, or the occurrence of such vacancy, a successor Trustee with respect to the Securities of any series shall be appointed by Act
of the Holders of a majority in aggregate principal amount of the Outstanding Securities of such series delivered to the Company and the retiring Trustee, the successor Trustee so appointed shall, forthwith upon its acceptance of such appointment in
accordance with the applicable requirements of Section 6.11, become the successor Trustee with respect to the Securities of such series and to that extent supersede the successor Trustee appointed by the Company. If no successor Trustee
with respect to the Securities of any series shall have been so appointed by the Company or the Holders and accepted appointment in the manner required by Section 6.11, Holders of 10% in aggregate principal amount of Securities of any
series who have been bona fide Holders of such Securities of such series for at least six months or the Trustee may, on behalf of themselves and all others similarly situated, petition any court of competent jurisdiction for the appointment of a
successor Trustee with respect to the Securities of such series. 
 The Company shall give notice of each resignation and each removal of
the Trustee with respect to the Securities of any series and each appointment of a successor Trustee with respect to the Securities of any series to all Holders of Securities of such series in the manner provided in Section 1.06. Each
notice shall include the name of the successor Trustee with respect to the Securities of such series and the address of its Corporate Trust Office. 

Section 6.11 Acceptance of Appointment by Successor. 

In case of the appointment hereunder of a successor Trustee with respect to all Securities, every such successor Trustee so appointed shall
execute, acknowledge and deliver to the Company and to the retiring Trustee an instrument accepting such appointment, and thereupon the resignation or removal of the retiring Trustee shall become effective and such successor Trustee, without any
further act, deed or conveyance, shall become vested with all the rights, powers, trusts and duties of the retiring Trustee; but, on the request of the Company or the successor Trustee, such retiring Trustee shall, upon payment of its charges and
reimbursement of its expenses (including reasonable fees and expenses of counsel and agents), if any, to which such retiring Trustee is otherwise legally entitled, execute and deliver an instrument transferring to such successor Trustee all the
rights, powers and trusts of the retiring Trustee and shall duly assign, transfer and deliver to such successor Trustee all property and money held by such retiring Trustee hereunder. 

In case of the appointment hereunder of a successor Trustee with respect to the Securities of one or more (but not all) series, the Company,
the retiring Trustee and each successor Trustee with respect to the Securities of one or more series shall execute and deliver an indenture supplemental hereto wherein each successor Trustee shall accept such appointment and which (a) shall
contain such provisions as shall be necessary or desirable to transfer and confirm to, and to vest in, each successor Trustee all the rights, powers, trusts and duties of the retiring Trustee with respect to the Securities of that or those series to
which the appointment of such successor Trustee relates, (b) if the retiring Trustee is not retiring with respect to all Securities, shall contain such provisions as shall be deemed necessary or desirable to confirm that all the rights, powers,
trusts and duties of the retiring Trustee with respect to the Securities of that or those series as to which the retiring Trustee is not retiring shall continue to be vested in the retiring Trustee, and (c) shall add to or change any of the
provisions of this Indenture as shall be necessary to provide for or facilitate the administration of the trusts hereunder by more than one Trustee, it being understood that nothing herein or in such supplemental indenture shall constitute such
Trustees co-trustees of the same trust and that each such Trustee shall be trustee of a trust or trusts hereunder separate and apart from any trust or trusts hereunder administered by any other such Trustee; and upon the execution and delivery of
such supplemental indenture the resignation or removal of the retiring Trustee shall become effective to the extent provided therein and each such successor Trustee, without any further act, deed or conveyance, shall become vested with all the
rights, powers, trusts and duties of the retiring Trustee with respect to the Securities of that or those series to which the appointment of such successor Trustee relates; but, on request of the Company or any successor Trustee, such retiring
Trustee shall duly assign, transfer and deliver to such successor Trustee all property and money held by such retiring Trustee hereunder with respect to the Securities of that or those series to which the appointment of such successor Trustee
relates. 

  
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 Upon request of any such successor Trustee, the Company shall execute any and all
instruments for more fully and certainly vesting in and confirming to such successor Trustee all such rights, powers and trusts referred to in the first or second preceding paragraph, as the case may be. 

No successor Trustee shall accept its appointment unless at the time of such acceptance such successor Trustee shall be qualified and eligible
under this Article. 
 Section 6.12 Merger, Conversion, Consolidation or Succession to Business. 

Any corporation into which the Trustee may be merged or converted or with which it may be consolidated, or any corporation resulting from any
merger, conversion or consolidation to which the Trustee shall be a party, or any corporation succeeding to all or substantially all the corporate trust business of the Trustee, shall be the successor of the Trustee hereunder, provided such
corporation shall be otherwise qualified and eligible under this Article, without the execution or filing of any paper or any further act on the part of any of the parties hereto. In case any Securities shall have been authenticated, but not
delivered, by the Trustee then in office, any successor by merger, conversion or consolidation to such authenticating Trustee may adopt such authentication and deliver the Securities so authenticated with the same effect as if such successor Trustee
had itself authenticated such Securities; and in case at that time any Securities shall not have been authenticated, any successor to the Trustee may authenticate such Securities either in the name of any predecessor hereunder or in the name of the
successor to the Trustee; and in all such cases such certificates shall have the full force which it is anywhere in the Securities or in this Indenture provided that the certificate of the Trustee shall have. 

Section 6.13 Preferential Collection of Claims Against Company. 

If and when the Trustee shall be or become a creditor of the Company (or any other obligor upon the Securities), the Trustee shall be subject
to the provisions of the Trust Indenture Act regarding the collection of claims against the Company (or any such other obligor). 

Section 6.14 Appointment of Authenticating Agent. 

The Trustee may appoint an Authenticating Agent or Agents with respect to one or more series of Securities which shall be authorized to act on
behalf of and subject to the direction of the Trustee to authenticate and deliver Securities of such series issued upon original issue and upon exchange, registration of transfer or partial redemption thereof or pursuant to Section 3.06,
and Securities so authenticated shall be entitled to the benefits of this Indenture and shall be valid and obligatory for all purposes as if authenticated by the Trustee hereunder. Wherever reference is made in this Indenture to the authentication
and delivery of Securities by the Trustee or the Trustee’s certificate of authentication, such reference shall be deemed to include authentication and delivery on behalf of the Trustee by an Authenticating Agent and a certificate of
authentication executed on behalf of the Trustee by an Authenticating Agent. Each Authenticating Agent shall be acceptable to the Company and shall at all times be a corporation organized and doing business under the laws of the United States of
America, any State thereof or the District of Columbia, authorized under such laws to act as Authenticating Agent, having a combined capital and surplus of not less than $50,000,000 and subject to supervision or examination by Federal or State
authority. If such Authenticating Agent publishes reports of condition at least annually, pursuant to law or to the requirements of said supervising or examining authority, then for the purposes of this Section, the combined capital and surplus of
such Authenticating Agent shall be deemed to be its combined capital and surplus as set forth in its most recent report of condition so published. If at any time an Authenticating Agent shall cease to be eligible in accordance with the provisions of
this Section, such Authenticating Agent shall resign immediately in the manner and with the effect specified in this Section. 

  
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 Any corporation into which an Authenticating Agent may be merged or converted or with which
it may be consolidated, or any corporation resulting from any merger, conversion or consolidation to which such Authenticating Agent shall be a party, or any corporation succeeding to all or substantially all the corporate agency or corporate trust
business of an Authenticating Agent, shall be the successor of the Authenticating Agent hereunder, provided such corporation shall be otherwise eligible under this Section, without the execution or filing of any paper or any further act on the part
of the Trustee or the Authenticating Agent. 
 An Authenticating Agent may resign at any time by giving written notice thereof to the
Trustee and to the Company. The Trustee may at any time terminate the agency of an Authenticating Agent by giving written notice thereof to such Authenticating Agent and to the Company. Upon receiving such a notice of resignation or upon such a
termination, or in case at any time such Authenticating Agent shall cease to be eligible in accordance with the provisions of this Section, the Trustee may appoint a successor Authenticating Agent which shall be acceptable to the Company and shall
give notice of such appointment in the manner provided in Section 1.06 to all Holders of Securities of the series with respect to which such Authenticating Agent will serve. Any successor Authenticating Agent upon acceptance of its
appointment hereunder shall become vested with all the rights, powers and duties of its predecessor hereunder, with like effect as if originally named as an Authenticating Agent. No successor Authenticating Agent shall be appointed unless eligible
under the provisions of this Section. 
 Except with respect to an Authenticating Agent appointed at the request of the Company, the Trustee
agrees to pay to each Authenticating Agent from time to time reasonable compensation for its services under this Section. 
 If an
appointment with respect to one or more series is made pursuant to this Section, the Securities of such series may have endorsed thereon, in addition to the Trustee’s certificate of authentication, an alternative certificate of authentication
in the following form: 
 This is one of the Securities of the series designated therein referred to in the within-mentioned Indenture. 

 

							
	[                             ], as Trustee	 	
		
	By:	 	                                    
                                         
           , as
		 	Authenticating Agent	 	
				
		 	By:	 	  
	 	
		 		 	Authorized Signatory	 	

 ARTICLE VII. HOLDERS’ LISTS AND REPORTS BY TRUSTEE AND COMPANY 

Section 7.01 Company to Furnish Trustee Names and Addresses of Holders. 

The Company will furnish or cause to be furnished to the Trustee: 

(a) semi-annually, not more than 15 days after each Regular Record Date, a list for each series of Securities, in such form as the Trustee may
reasonably require, of the names and addresses of the Holders of Securities of such series as of such Regular Record Date; and 
 (b) at such
other times as the Trustee may request in writing, within 30 days after the receipt by the Company of any such request, a list of similar form and content as of a date not more than 15 days prior to the time such list is furnished; 

provided, however, that if and so long as the Trustee shall be the Security Registrar for the Securities of a series, no such list need be furnished with
respect to such series of Securities. 

  
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 Section 7.02 Preservation of Information; Communications to Holders. 

Subject to compliance with its obligations pursuant to Section 312 of the Trust Indenture Act, the Trustee (i) shall preserve, in as
current a form as is reasonably practicable, the names and addresses of Holders contained in the most recent list furnished to the Trustee as provided in Section 7.01 and the names and addresses of Holders received by the Trustee in its
capacity as Security Registrar and (ii) may destroy any list furnished to it as provided in Section 7.01 upon receipt of a new list so furnished. 

The rights of Holders to communicate with other Holders with respect to their rights under this Indenture or the Securities, and the
corresponding rights and privileges of the Trustee shall be as provided by the Trust Indenture Act. 
 Every Holder of Securities, by
receiving and holding the same, agrees with the Company and the Trustee that none of the Company, the Trustee nor any agent of any of them shall be held accountable by reason of any disclosure of information as to names and addresses of Holders made
pursuant to the Trust Indenture Act. 
 Section 7.03 Reports by Trustee. 

The Trustee shall transmit to Holders such reports concerning the Trustee and its actions under this Indenture as may be required pursuant to
the Trust Indenture Act at the times and in the manner provided pursuant thereto. As promptly as practicable after each May 15 beginning with the May 15 following the date of this Indenture, and in any event prior to July 15 in each
year, the Trustee shall deliver to each Holder a brief report dated as of May 15 that complies with Trust Indenture Act Section 313(a). The Trustee also shall comply with Trust Indenture Act Section 313(b). Prior to delivery to the
Holders, the Trustee shall deliver to the Company a copy of any report it delivers to Holders pursuant to this Section. 
 A copy of each
such report shall, at the time of such transmission to Holders, be filed by the Trustee with each stock exchange and automated quotation system, if any, upon which any Securities are listed, with the Commission and with the Company. The Company will
notify the Trustee when any Securities are listed on any stock exchange or automated quotation system. 
 Section 7.04 Reports by
Company. 
 The Company shall file with the Trustee and the Commission, and transmit to Holders, such information, documents and other
reports, and such summaries thereof as may be required pursuant to the Trust Indenture Act at the times and in the manner provided pursuant to the Trust Indenture Act; provided that any such information, documents or reports required to be filed
with the Commission pursuant to Section 13 or 15(d) of the Exchange Act shall be filed with the Trustee within 15 days after the Company files the same with the Commission. 

Delivery of such reports, information and documents to the Trustee is for informational purposes only, and the Trustee’s receipt of such
shall not constitute constructive notice of any information contained therein or determinable from information contained therein, including the Company’s compliance with any of its covenants hereunder (as to which the Trustee is entitled to
rely exclusively on Officer’s Certificates). 
 Such information, documents, reports and summaries shall be deemed to have been
(i) filed by the Company with the Trustee and (ii) transmitted by the Company to Holders, as the case may be, if the Company has filed such information, documents, reports and summaries with the Commission using the EDGAR filing system (or
any successor filing system) and such reports are publicly available, in each case to the extent such filing with the EDGAR filing system (or any successor filing system) and the foregoing effect thereof, is not prohibited by the Act. 

  
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 ARTICLE VIII. CONSOLIDATION, MERGER, CONVEYANCE, TRANSFER OR LEASE 

Section 8.01 Company May Consolidate, Etc., Only on Certain Terms.  

The Company shall not consolidate with or merge into any other Person or convey, transfer or lease (as lessor) its properties and assets as, or
substantially as, an entirety to any Person, unless: 
 (a) (i) in the case of a merger, (1) the Company is the surviving Person, or
(2) the Person formed by such consolidation or into which the Company is merged or the Person which acquires by conveyance or transfer, or which leases, the properties and assets of the Company as, or substantially as, an entirety shall be a
corporation or partnership, shall be organized and validly existing under the laws of the United States of America, any State thereof or the District of Columbia and shall expressly assume, by an indenture supplemental hereto, executed and delivered
to the Trustee, in form reasonably satisfactory to the Trustee, the due and punctual payment of the principal of and any premium and interest on all the Securities and the performance or observance of every covenant of this Indenture on the part of
the Company to be performed or observed; 
 (b) immediately after giving effect to such transaction, no Event of Default, and no event which,
after notice or lapse of time or both, would become an Event of Default, shall exist; and 
 (c) the Company has delivered to the Trustee an
Officer’s Certificate and an Opinion of Counsel, each stating that such consolidation, merger, conveyance, transfer or lease and, if a supplemental indenture is required in connection with such transaction, such supplemental indenture comply
with this Article and that all conditions precedent herein provided for relating to such transaction have been complied with. 

Section 8.02 Successor Substituted. 

Upon any consolidation of the Company with, or merger of the Company into, any other Person or any conveyance, transfer or lease (as lessor) of
the properties and assets of the Company as, or substantially as, an entirety in accordance with Section 8.01, the successor Person formed by such consolidation or into which the Company is merged or to which such conveyance, transfer or
lease is made shall succeed to, and be substituted for, and may exercise every right and power of, the Company under this Indenture with the same effect as if such successor Person had been named as the Company herein, and thereafter, except in the
case of a lease (where the Company is the lessor), the predecessor Person shall be relieved of all obligations and covenants under this Indenture and the Securities. 

ARTICLE IX. SUPPLEMENTAL INDENTURES 

Section 9.01 Supplemental Indentures Without Consent of Holders. 

Without the consent of any Holders, the Company and the Trustee, at any time and from time to time, may enter into one or more indentures
supplemental hereto, in form satisfactory to the Trustee, for any of the following purposes: 
 (a) to evidence the succession of another
Person to the Company under this Indenture and the Securities and the assumption by such successor of the obligations of the Company hereunder; 

(b) to add covenants of the Company for the benefit of the Holders of all or any series of Securities (and if such covenants are to be for the
benefit of less than all series of Securities, stating that such covenants are expressly being included solely for the benefit of such series) or to surrender any right or power herein conferred upon the Company with regard to all or any series of
Securities (and if any such surrender is to be made with regard to less than all series of Securities, stating that such surrender is expressly being made solely with regard to such series); 

(c) to add any additional Events of Default for the benefit of the Holders of all or any series of Securities (and if such additional Events of
Default are to be for the benefit of less than all series of Securities, stating that such additional Events of Default are expressly being included solely for the benefit of such series); 

(d) to add to or change any of the provisions of this Indenture to such extent as shall be necessary to permit or facilitate the issuance of
Securities in bearer form, registrable or not registrable as to principal, and with or without interest coupons, or to permit or facilitate the issuance of Securities in uncertificated form; 

  
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 (e) to add to, change or eliminate any of the provisions of this Indenture in respect of all
or any series of Securities (and if such addition, change or elimination is to apply to less than all series of Securities, stating that it is expressly being made to apply solely with respect to such series); provided that any such addition, change
or elimination (1) shall neither (i) apply to any Security of any series created prior to the execution of such supplemental indenture and entitled to the benefit of such provision nor (ii) modify the rights of the Holder of any such
Security with respect to such provision or (2) shall become effective only when there is no such Security Outstanding; 
 (f) to secure
the Securities or any guarantee with respect to any Securities; 
 (g) to establish the form or terms of Securities of any series hereunder;

 (h) to evidence and provide for the acceptance of appointment hereunder by a successor Trustee with respect to the Securities of one or
more series and to add to or change any of the provisions of this Indenture as shall be necessary to provide for or facilitate the administration of the trusts hereunder by more than one Trustee, pursuant to the requirements of
Section 6.11; 
 (i) to cure any ambiguity or to correct or supplement any provision herein which may be defective or
inconsistent with any other provision herein; 
 (j) to make any other provisions with respect to matters or questions arising under this
Indenture, provided that such action pursuant to this Clause (j) shall not adversely affect the interests of the Holders of any Securities of any Outstanding series in any material respect; 

(k) to add one or more guarantors with respect to the Securities as parties to this Indenture or to release guarantors in accordance with the
provisions of any supplemental indenture; 
 (l) to qualify this Indenture under the Trust Indenture Act; 

(m) to supplement any provisions of this Indenture necessary to permit or facilitate the defeasance and discharge of any series of Securities;
provided that such action does not adversely affect the interests of the Holders of Securities of such series or any other series; 
 (n) to
comply with the rules or regulations of any securities exchange or automated quotation system on which any of the Securities may be listed or traded; 

(o) to comply with the rules of any applicable Depositary; 

(p) subject to any limitations established pursuant to Section 3.01, to provide for the issuance of additional Securities of any
series; or 
 (q) to conform any provision of this Indenture, any supplemental indenture, one or more series of Securities or any related
guarantees or security documents, if any, to the description of such Securities contained in the Company’s prospectus, prospectus supplement, offering memorandum or similar document with respect to the offering of the Securities of such series.

  
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 Section 9.02 Supplemental Indentures With Consent of Holders. 

With the consent of the Holders of not less than a majority in aggregate principal amount of the Outstanding Securities of each series affected
by such supplemental indenture (including consents obtained in connection with a tender offer or exchange for Securities), by Act of said Holders delivered to the Company and the Trustee, the Company, when authorized by a Board Resolution, and the
Trustee may enter into an indenture or indentures supplemental hereto for the purpose of adding any provisions to, or changing in any manner or eliminating any of the provisions of, this Indenture, or modifying in any manner the rights of the
Holders of Securities of such series under this Indenture; provided, however, that no such supplemental indenture shall, without the consent of the Holder of each Outstanding Security of such series affected thereby: 

(a) change the Stated Maturity of the principal of, or any installment of principal of or interest, if any, on, any Security, or reduce the
principal amount thereof or the rate of interest thereon or any premium payable upon the redemption thereof, or reduce the amount of the principal of an Original Issue Discount Security or any other Security which would be due and payable upon a
declaration of acceleration of the Maturity thereof pursuant to Section 5.02, or change the Company’s obligation to maintain an office or agency for payment of Securities and the other matters specified herein, or the coin or
currency in which any Security is payable, or impair the right of any Holder to institute suit for the enforcement of any such payment on or after the Stated Maturity thereof (or, in the case of redemption, on or after the Redemption Date), or alter
the method of computation of interest; 
 (b) reduce the percentage in aggregate principal amount of the Outstanding Securities of any
series, the consent of whose Holders is required for any such supplemental indenture, or the consent of whose Holders is required for any waiver (of compliance with certain provisions of this Indenture or certain defaults hereunder and their
consequences) provided for in this Indenture; 
 (c) modify any of the provisions of this Section, Section 5.13 or
Section 10.06 except to increase any such percentage or to provide that certain other provisions of this Indenture cannot be modified or waived without the consent of the Holder of each Outstanding Security affected thereby; provided,
however, that this Clause shall not be deemed to require the consent of any Holder with respect to changes in the references to “the Trustee” and concomitant changes in this Section and Section 10.06, or the deletion of this
proviso, in accordance with the requirements of Sections 6.11 and 9.01(h); or 
 (d) if the Securities of any series are
convertible into or for any other securities or property of the Company, make any change that adversely affects in any material respect the right to convert any Security of such series (except as permitted by Section 9.01) or decrease
the conversion rate or increase the conversion price of any such Security of such series, unless such decrease or increase is permitted by the terms of such Security. 

A supplemental indenture that changes or eliminates any covenant or other provision of this Indenture that has expressly been included solely
for the benefit of one or more particular series of Securities, or which modifies the rights of the Holders of Securities of such series with respect to such covenant or other provision, shall be deemed not to affect the rights under this Indenture
of the Holders of Securities of any other series. 
 It shall not be necessary for any Act of Holders under this Section to approve the
particular form of any proposed supplemental indenture, but it shall be sufficient if such Act shall approve the substance thereof. 

Section 9.03 Execution of Supplemental Indentures. 

In executing, or accepting the additional trusts created by, any supplemental indenture permitted by this Article or the modifications thereby
of the trusts created by this Indenture, the Trustee shall be entitled to receive, and (subject to Section 6.01) shall be fully protected in relying upon, an Officer’s Certificate and Opinion of Counsel stating that the execution of
such supplemental indenture is authorized or permitted by this Indenture. The Trustee may, but shall not be obligated to, enter into any such supplemental indenture which affects the Trustee’s own rights, duties or immunities under this
Indenture or otherwise. 
 Section 9.04 Effect of Supplemental Indentures. 

Upon the execution of any supplemental indenture under this Article, this Indenture shall be modified in accordance therewith, and such
supplemental indenture shall form a part of this Indenture, for all purposes; and every Holder of Securities theretofore or thereafter authenticated and delivered hereunder shall be bound thereby. 

  
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 Section 9.05 Conformity with Trust Indenture Act. 

Every supplemental indenture executed pursuant to this Article shall conform to the requirements of the Trust Indenture Act. 

Section 9.06 Reference in Securities to Supplemental Indentures. 

Securities of any series authenticated and delivered after the execution of any supplemental indenture pursuant to this Article may, and shall
if required by the Trustee, bear a notation in form approved by the Trustee as to any matter provided for in such supplemental indenture. If the Company shall so determine, new Securities of any series so modified as to conform, in the opinion of
the Trustee and the Company, to any such supplemental indenture may be prepared and executed by the Company and authenticated and delivered by the Trustee in exchange for Outstanding Securities of such series. Failure to make a notation or issue a
new Security shall not affect the validity and effect of any amendment, supplement or waiver. 
 ARTICLE X. COVENANTS 

Section 10.01 Payment of Principal, Premium and Interest. 

The Company covenants and agrees for the benefit of each series of Securities that it will duly and punctually pay the principal of and
premium, if any, and interest on the Securities of that series in accordance with the terms of the Securities and this Indenture. Principal, premium, if any, and interest will be considered paid on the date due if the Trustee or Paying Agent, if
other than the Company or a Subsidiary thereof, holds as of Noon, New York City time, on the due date, money deposited by the Company in immediately available funds and designated for and sufficient to pay all principal, premium, if any, and
interest on the Notes then due. 
 Notwithstanding anything to the contrary contained in this Indenture, the Company or the Paying Agent
may, to the extent it is required to do so by law, deduct or withhold income or other similar taxes imposed by the United States of America or other domestic or foreign taxing authorities from principal or interest payments hereunder. 

Section 10.02 Maintenance of Office or Agency. 

The Company will maintain in each Place of Payment for any series of Securities an office or agency where Securities of that series may be
presented or surrendered for payment, where Securities of that series may be surrendered for registration of transfer or exchange, where Securities may be surrendered for conversion, and where notices and demands to or upon the Company in respect of
the Securities of that series and this Indenture may be served. The Company will give prompt written notice to the Trustee of the location, and any change in the location, of such office or agency. If at any time the Company shall fail to maintain
any such required office or agency or shall fail to furnish the Trustee with the address thereof, such presentations, surrenders, notices and demands may be made or served at the Corporate Trust Office of the Trustee, and the Company hereby appoints
the Trustee as its agent to receive all such presentations, surrenders, notices and demands. 
 The Company may also from time to time
designate one or more other offices or agencies where the Securities of one or more series may be presented or surrendered for any or all such purposes and may from time to time rescind such designations; provided, however, that no such designation
or rescission shall in any manner relieve the Company of its obligation to maintain an office or agency in each Place of Payment for Securities of any series for such purposes. The Company will give prompt written notice to the Trustee of any such
designation or rescission and of any change in the location of any such other office or agency. 
 Except as otherwise specified with
respect to a series of Securities as contemplated by Section 3.01, the Company hereby initially designates as the Place of Payment for each series of Securities The City of New York, and initially appoints the Trustee as Paying Agent at
its Corporate Trust Office as the Company’s office or agency for each such purpose in such city; provided that with respect to a Global Security, and except as may otherwise be specified for such Global Security as contemplated by
Section 3.01, any payment, presentation, surrender of delivery effected pursuant to the Applicable Procedures of the Depositary for such Global Security shall be deemed to have been effected at the Place of Payment for such Global
Securities in accordance with the provisions of this Indenture. 

  
 40 

 Section 10.03 Money for Securities Payments to Be Held in Trust. 

If the Company shall at any time act as its own Paying Agent with respect to any series of Securities, it will, on or before each due date of
the principal of or any premium or interest on any of the Securities of that series, segregate and hold in trust for the benefit of the Persons entitled thereto a sum sufficient to pay the principal and any premium and interest so becoming due until
such sums shall be paid to such Persons or otherwise disposed of as herein provided and will promptly notify the Trustee of its action or failure so to act. 

Whenever the Company shall have one or more Paying Agents for any series of Securities, it will, on or prior to Noon, New York City time, on
each due date of the principal of or any premium or interest on any Securities of that series, deposit (or, if the Company has deposited any trust funds with a trustee pursuant to Section 13.04(a), cause such trustee to deposit) with a
Paying Agent a sum sufficient to pay such amount, such sum to be held as provided by the Trust Indenture Act, and (unless such Paying Agent is the Trustee) the Company will promptly notify the Trustee of its action or failure so to act. 

The Company will cause each Paying Agent for any series of Securities other than the Trustee to execute and deliver to the Trustee an
instrument in which such Paying Agent shall agree with the Trustee, subject to the provisions of this Section, that such Paying Agent will (1) hold all sums held by it for the payment of the principal of (and premium, if any) or interest, if
any, on Securities of that series in trust for the benefit of the Persons entitled thereto until such sums shall be paid to such Persons or otherwise disposed of as herein provided; (2) give the Trustee notice of any default by the Company (or
any other obligor upon the Securities of that series) in the making of any payment of principal (and premium, if any) or interest, if any, on the Securities of that series; and (3) during the continuance of any such default, upon the written
request of the Trustee, forthwith pay to the Trustee all sums held in trust by such Paying Agent for payment in respect of the Securities of that series. 

The Company may at any time, for the purpose of obtaining the satisfaction and discharge of this Indenture or for any other purpose, pay, or
by Company Order direct any Paying Agent to pay, to the Trustee all sums held in trust by the Company or such Paying Agent, such sums to be held by the Trustee upon the same trusts as those upon which such sums were held by the Company or such
Paying Agent; and, upon such payment by any Paying Agent to the Trustee, such Paying Agent shall be released from any further liability with respect to such money. 

Subject to any applicable abandoned property law, any money deposited with the Trustee or any Paying Agent, or then held by the Company, in
trust for the payment of the principal of or any premium or interest on any Security of any series and remaining unclaimed for two years after such principal, premium or interest has become due and payable shall be paid to the Company on Company
Request, or (if then held by the Company) shall be discharged from such trust; and the Holder of such Security shall thereafter, as an unsecured general creditor, look only to the Company for payment thereof, and all liability of the Trustee or such
Paying Agent with respect to such trust money, and all liability of the Company as trustee thereof, shall thereupon cease. 

Section 10.04 Statement by Officer as to Default. 

The Company will deliver to the Trustee, within 120 days after the end of each of its fiscal years ending after the date hereof, an
Officer’s Certificate, stating whether or not to the best knowledge of the signer thereof the Company is in default in the performance and observance of any of the terms, provisions and conditions of this Indenture (without regard to any period
of grace or requirement of notice provided hereunder) and, if the Company shall be in default, specifying all such defaults and the nature and status thereof of which the signer thereof may have knowledge. 

Section 10.05 Existence. 

Subject to Article VIII, the Company will do or cause to be done all things necessary to preserve and keep in full force and effect its
corporate (or equivalent) existence. 

  
 41 

 Section 10.06 Waiver of Certain Covenants. 

Except as otherwise specified as contemplated by Section 3.01 for Securities of such series, the Company may, with respect to the
Securities of any series, omit in any particular instance to comply with any term, provision or condition set forth in any covenant pursuant to Sections 3.01(u), 9.01(b) or 9.01(g), Article VIII or Sections 10.04
or 10.05 for the benefit of the Holders of such series if before the time for such compliance the Holders of at least a majority in aggregate principal amount of the Outstanding Securities of such series shall, by Act of such Holders, either
waive such compliance in such instance or generally waive compliance with such term, provision or condition, but no such waiver shall extend to or affect such term, provision or condition except to the extent so expressly waived, and, until such
waiver shall become effective, the obligations of the Company and the duties of the Trustee in respect of any such term, provision or condition shall remain in full force and effect. 

ARTICLE XI. REDEMPTION OF SECURITIES 

Section 11.01 Applicability of Article. 

Securities of any series that are redeemable before their Stated Maturity shall be redeemable in accordance with their terms and (except as
otherwise specified as contemplated by Section 3.01 for such Securities) in accordance with this Article. 
 Section 11.02
Election to Redeem; Notice to Trustee. 
 The election of the Company to redeem any Securities shall be established in or pursuant to
a Board Resolution or an Officer’s Certificate or in another manner specified as contemplated by Section 3.01 for such Securities. 

Except as otherwise established in or pursuant to a Board Resolution or an Officer’s Certificate or in another manner specified as
contemplated by Section 3.01 for such Securities, in case of any redemption at the election of the Company of the Securities of any series (including any such redemption affecting only a single Security), the Company shall, not less than
10 days prior to the Redemption Date fixed by the Company (unless a shorter notice shall be satisfactory to the Trustee), notify the Trustee of such Redemption Date, of the principal amount of Securities of such series to be redeemed and, if
applicable, of the tenor of the Securities to be redeemed. In the case of any redemption of Securities (a) prior to the expiration of any restriction on such redemption provided in the terms of such Securities or elsewhere in this Indenture, or
(b) pursuant to an election of the Company which is subject to a condition specified in the terms of such Securities or elsewhere in this Indenture, the Company shall furnish the Trustee with an Officer’s Certificate evidencing compliance
with such restriction or condition. 
 Section 11.03 Selection by Trustee of Securities to Be Redeemed. 

Except as otherwise established in or pursuant to a Board Resolution or an Officer’s Certificate or in another manner specified as
contemplated by Section 3.01 for such Securities, if less than all the Securities of any series are to be redeemed (unless all the Securities of such series and of a specified tenor are to be redeemed or unless such redemption affects
only a single Security), the particular Securities to be redeemed shall be selected not more than 45 days prior to the Redemption Date by the Trustee, from the Outstanding Securities of such series not previously called for redemption, by such
method as the Trustee shall deem fair and appropriate and which complies with any securities exchange or other Applicable Procedures; provided that the unredeemed portion of the principal amount of any Security shall be in an authorized denomination
(which shall not be less than the minimum authorized denomination) for such Security. If less than all the Securities of such series and of a specified tenor are to be redeemed (unless such redemption affects only a single Security), the particular
Securities to be redeemed shall be selected not more than 45 days prior to the Redemption Date by the Trustee, from the Outstanding Securities of such series and specified tenor not previously called for redemption in accordance with the preceding
sentence. 

  
 42 

 If any Security selected for partial redemption is converted in part before termination of
the conversion right with respect to the portion of the Security so selected, the converted portion of such Security shall be deemed (so far as may be) to be the portion selected for redemption. Securities which have been converted during a
selection of securities to be redeemed shall be treated by the Trustee as Outstanding for the purpose of such selection. 
 The Trustee
shall promptly notify the Company and each Security Registrar in writing of the Securities selected for redemption as aforesaid and, in case of any Securities selected for partial redemption as aforesaid, the principal amount thereof to be redeemed.

 The provisions of the three preceding paragraphs shall not apply with respect to any redemption affecting only a single Security, whether
such Security is to be redeemed in whole or in part. In the case of any such redemption in part, the unredeemed portion of the principal amount of the Security shall be in an authorized denomination (which shall not be less than the minimum
authorized denomination) for such Security. 
 For all purposes of this Indenture, unless the context otherwise requires, all provisions
relating to the redemption of Securities shall relate, in the case of any Securities redeemed or to be redeemed only in part, to the portion of the principal amount of such Securities which has been or is to be redeemed. If the Company shall so
direct, Securities registered in the name of the Company, any Affiliate or any Subsidiary thereof shall not be included in the Securities selected for redemption. 

Section 11.04 Notice of Redemption. 

Except as otherwise established in or pursuant to a Board Resolution or an Officer’s Certificate or in another manner specified as
contemplated by Section 3.01 for such Securities, notice of redemption shall be given by first-class mail, postage prepaid, mailed or otherwise in accordance with the Applicable Procedures not less than 10 nor more than 60 days prior to
the Redemption Date (or within such period as otherwise specified as contemplated by Section 3.01 for the relevant Securities), to each Holder of Securities to be redeemed, at such Holder’s address appearing in the Security
Register. 
 Except as otherwise established in or pursuant to a Board Resolution or an Officer’s Certificate or in another manner
specified as contemplated by Section 3.01 for such Securities, all notices of redemption shall identify the Securities to be redeemed (including CUSIP numbers, if any) and shall state: 

(a) the Redemption Date; 
 (b) the
Redemption Price (or the method of calculating such price); 
 (c) if less than all the Outstanding Securities of any series consisting of
more than a single Security are to be redeemed, the identification (and, in the case of partial redemption of any such Securities, the principal amounts) of the particular Securities to be redeemed and, if less than all the Outstanding Securities of
any series consisting of a single Security are to be redeemed, the principal amount of the particular Security to be redeemed; 
 (d) that on
the Redemption Date, the Redemption Price will become due and payable upon each such Security to be redeemed and, if applicable, that interest thereon will cease to accrue on and after said date; 

(e) the place or places where each such Security is to be surrendered for payment of the Redemption Price; 

(f) that the redemption is for a sinking fund, if such is the case; and 

(g) for any Securities that by their terms may be converted, the terms of conversion, the date on which the right to convert the Security to be
redeemed will terminate and the place or places where such Securities may be surrendered for conversion. 
 Notice of redemption of
Securities to be redeemed at the election of the Company shall be given by the Company or, at the Company’s request (which may be rescinded or revoked at any time prior the time at which the Trustee shall have given such notice to the Holders),
by the Trustee in the name and at the expense of the Company. 

  
 43 

 
The notice, if sent in the manner herein provided, shall be conclusively presumed to have been given, whether or not the Holder receives such notice. In any case, failure to give such notice by
mail or otherwise in accordance with the Applicable Procedures or any defect in the notice to the Holder of any Security designated for redemption as a whole or in part shall not affect the validity of the proceedings for the redemption of any other
Securities. 
 Section 11.05 Deposit of Redemption Price. 

Except as otherwise established in or pursuant to a Board Resolution or an Officer’s Certificate or in another manner specified as
contemplated by Section 3.01 for such Securities, on or prior to Noon, New York City time, on any Redemption Date, the Company shall deposit with the Trustee or with a Paying Agent (or, if the Company is acting as its own Paying Agent,
segregate and hold in trust as provided in Section 10.03) an amount of money sufficient to pay the Redemption Price of, and (except if the Redemption Date shall be an Interest Payment Date or the Securities of the series provide
otherwise) accrued interest on, all the Securities that are to be redeemed on that date, other than Securities or portions of Securities called for redemption that are owned by the Company or a Subsidiary and have been delivered by the Company or
such Subsidiary to the Trustee for cancellation. All money, if any, earned on funds held by the Paying Agent shall be remitted to the Company. In addition, the Paying Agent shall promptly return to the Company any money deposited with the Paying
Agent by the Company in excess of the amounts necessary to pay the Redemption Price of, and accrued interest, if any, on, all Securities to be redeemed. 

If any Security called for redemption is converted, any money deposited with the Trustee or with any Paying Agent or so segregated and held in
trust for the redemption of such Security shall (subject to any right of the Holder of such Security or any Predecessor Security to receive interest as provided in the last paragraph of Section 3.07 or in the terms of such Security) be
paid to the Company upon Company Request or, if then held by the Company, shall be discharged from such trust. 
 Section 11.06
Securities Payable on Redemption Date. 
 Notice of redemption having been given as aforesaid, the Securities so to be redeemed shall,
on the Redemption Date, become due and payable at the Redemption Price therein specified, and from and after such date (unless the Company shall default in the payment of the Redemption Price and accrued interest) such Securities shall cease to bear
interest. Upon surrender of any such Security for redemption in accordance with said notice, such Security shall be paid by the Company at the Redemption Price, together, if applicable, with accrued interest to the Redemption Date; provided,
however, that, unless otherwise specified as contemplated by Section 3.01, installments of interest whose Stated Maturity is on or prior to the Redemption Date will be payable to the Holders of such Securities, or one or more Predecessor
Securities, registered as such at the close of business on the relevant Record Dates according to their terms and the provisions of Section 3.07; provided further that, unless otherwise specified as contemplated by
Section 3.01, if the Redemption Date is after a Regular Record Date and on or prior to the Interest Payment Date, the accrued and unpaid interest shall be payable to the Holder of the redeemed Securities registered on the relevant
Regular Record Date. 
 If any Security called for redemption shall not be so paid upon surrender thereof for redemption, the principal and
any premium shall, until paid, bear interest from the Redemption Date at the rate prescribed therefor in the Security. 
 Section 11.07
Securities Redeemed in Part. 
 Any Security that is to be redeemed only in part shall be surrendered at a Place of Payment therefor
(with, if the Company or the Trustee so requires, due endorsement by, or a written instrument of transfer in form satisfactory to the Company and the Trustee duly executed by, the Holder thereof or such Holder’s attorney duly authorized in
writing), and the Company shall execute, and the Trustee shall authenticate and deliver to the Holder of such Security without service charge, a new Security or Securities of the same series and of like tenor, of any authorized denomination as
requested by such Holder, in aggregate principal amount equal to and in exchange for the unredeemed portion of the principal of the Security so surrendered. 

  
 44 

 ARTICLE XII. SINKING FUNDS 

Section 12.01 Applicability of Article. 

The provisions of this Article shall be applicable to any sinking fund for the retirement of Securities of any series except as otherwise
specified as contemplated by Section 3.01 for such Securities. 
 The minimum amount of any sinking fund payment provided
for by the terms of any series of Securities is herein referred to as a “mandatory sinking fund payment”, and any payment in excess of such minimum amount provided for by the terms of such Securities is herein referred to as an
“optional sinking fund payment”. If provided for by the terms of any series of Securities, the cash amount of any sinking fund payment may be subject to reduction as provided in Section 12.02. Each sinking fund payment
shall be applied to the redemption of Securities of the series as provided for by the terms of such Securities. 
 Section 12.02
Satisfaction of Sinking Fund Payments with Securities. 
 The Company (a) may deliver Outstanding Securities of a series (other
than any previously called for redemption) and (b) may apply as a credit Securities of a series which have been redeemed either at the election of the Company pursuant to the terms of such Securities or through the application of permitted
optional sinking fund payments pursuant to the terms of such Securities, in each case in satisfaction of all or any part of any sinking fund payment with respect to any Securities of such series required to be made pursuant to the terms of such
Securities as and to the extent provided for by the terms of such Securities; provided that the Securities to be so credited have not been previously so credited. The Securities to be so credited shall be received and credited for such purpose by
the Trustee at the Redemption Price, as specified in the Securities so to be redeemed, for redemption through operation of the sinking fund and the amount of such sinking fund payment shall be reduced accordingly. 

Section 12.03 Redemption of Securities for Sinking Fund. 

Not less than 45 days (or shorter period as shall be satisfactory to the Trustee) prior to each sinking fund payment date for any Securities,
the Company will deliver to the Trustee an Officer’s Certificate specifying the amount of the next ensuing sinking fund payment for such Securities pursuant to the terms of such Securities, the portion thereof, if any, which is to be satisfied
by payment of cash and the portion thereof, if any, which is to be satisfied by delivering and crediting Securities pursuant to Section 12.02 and will also deliver to the Trustee any Securities to be so delivered. Not less than 30 days
prior to each such sinking fund payment date, the Trustee shall select the Securities to be redeemed upon such sinking fund payment date in the manner specified in Section 11.03 and cause notice of the redemption thereof to be given in
the name of and at the expense of the Company in the manner provided in Section 11.04. Such notice having been duly given, the redemption of such Securities shall be made upon the terms and in the manner stated in Sections 11.06
and 11.07. 
 ARTICLE XIII. DEFEASANCE AND COVENANT DEFEASANCE 

Section 13.01 Company’s Option to Effect Defeasance or Covenant Defeasance. 

The Company may elect, at its option at any time, to have Section 13.02 or Section 13.03 apply to any Securities or any
series of Securities, as the case may be, designated pursuant to Section 3.01 as being defeasible pursuant to such Section 13.02 or 13.03, in accordance with any applicable requirements provided pursuant to
Section 3.01 and upon compliance with the conditions set forth below in this Article. Any such election shall be evidenced by a Board Resolution, Officer’s Certificate or in another manner specified as contemplated by
Section 3.01 for such Securities. 
 Section 13.02 Defeasance and Discharge. 

Upon the Company’s exercise of its option (if any) to have this Section apply to any Securities or any series of Securities, as the case
may be, the Company shall be deemed to have been discharged from its obligations with respect to such Securities as provided in this Section on and after the date the conditions set forth in Section 13.04 

  
 45 

 
are satisfied (hereinafter called “Defeasance”). For this purpose, such Defeasance means that the Company shall be deemed to have paid and discharged the entire indebtedness
represented by such Securities and to have satisfied all its other obligations under such Securities and this Indenture insofar as such Securities are concerned (and the Trustee, at the expense of the Company, shall execute proper instruments
acknowledging the same), subject to the following which shall survive until otherwise terminated or discharged hereunder: (a) the rights of Holders of such Securities to receive, solely from the trust fund described in Section 13.04
and as more fully set forth in Section 13.05, payments in respect of the principal of and any premium and interest on such Securities when payments are due, (b) the Company’s obligations with respect to such Securities under
Sections 3.04, 3.05, 3.06, 10.02 and 10.03, (c) the rights, powers, trusts, duties and immunities of the Trustee hereunder and (d) this Article. Subject to compliance with this Article, the Company may
exercise its option (if any) to have this Section applied to any Securities notwithstanding the prior exercise of its option (if any) to have Section 13.03 applied to such Securities. 

Section 13.03 Covenant Defeasance. 

Upon the Company’s exercise of its option (if any) to have this Section applied to any Securities or any series of Securities, as
the case may be, (a) the Company shall be released from its obligations under Sections 7.04, 8.01, 10.04, 10.05 and any covenants provided pursuant to Section 3.01(u), 9.01(b) or 9.01(g) for
the benefit of the Holders of such Securities and (b) the occurrence of any event specified in Section 5.01(d) or 5.01(g) shall be deemed not to be or result in an Event of Default, in each case with respect to such
Securities as provided in this Section on and after the date the conditions set forth in Section 13.04 are satisfied (hereinafter called “Covenant Defeasance”). For this purpose, such Covenant Defeasance means that, with
respect to such Securities, the Company may omit to comply with and shall have no liability in respect of any term, condition or limitation set forth in any such specified Section, whether directly or indirectly by reason of any reference elsewhere
herein to any such Section or by reason of any reference in any such Section to any other provision herein or in any other document, but the remainder of this Indenture and such Securities shall be unaffected thereby. 

Section 13.04 Conditions to Defeasance or Covenant Defeasance. 

The following shall be the conditions to the application of Section 13.02 or 13.03 to any Securities or any series of
Securities, as the case may be: 
 (a) The Company shall irrevocably have deposited or caused to be deposited with the Trustee (or another
trustee which satisfies the requirements contemplated by Section 6.09 and agrees to comply with the provisions of this Article applicable to it) as trust funds in trust for the purpose of making the following payments, specifically
pledged as security for, and dedicated solely to, the benefits of the Holders of such Securities, (A) money in an amount, or (B) in the case of any series of Securities the payment on which may only be made in legal coin or currency of the
United States, U.S. Government Obligations which through the scheduled payment of principal and interest in respect thereof in accordance with their terms will provide, not later than Noon, New York City time, on the due date of any payment, money
in an amount, or (C) such other obligations or arrangements as may be specified as contemplated by Section 3.01 with respect to such Securities, or (D) a combination thereof, in each case sufficient, in the opinion of an
independent public accountant or financial advisor, in either case expressed in a written certification thereof to be delivered to the Trustee, to pay and discharge, and which shall be applied by the Trustee (or any such other qualifying trustee) to
pay and discharge, (1) the principal of and any premium and interest on such Securities on the respective Stated Maturities, in accordance with the terms of this Indenture and such Securities or any Redemption Date established pursuant to
Clause (i) below, and (2) any mandatory sinking fund payments on the dates on which such payments are due and payable in accordance with the terms of this Indenture and such Securities. As used herein, “U.S. Government
Obligation” means (x) any security which is (i) a direct obligation of the United States of America for the payment of which the full faith and credit of the United States of America is pledged or (ii) an obligation of a
Person controlled or supervised by and acting as an agency or instrumentality of the United States of America the payment of which is unconditionally guaranteed as a full faith and credit obligation by the United States of America, which, in either
case (i) or (ii), is not callable or redeemable at the option of the issuer thereof and (y) any depositary receipt issued by a bank (as defined in Section 3(a)(2) of the Securities Act) as custodian with respect to any U.S. Government
Obligation which is specified in Clause (x) above and held by such bank for the account of the holder of such depositary receipt, or with respect to any specific payment of principal of or interest on any U.S. Government Obligation which is so
specified and held, provided that (except as required by law) such custodian is not authorized to make any deduction from the amount payable to the holder of such depositary receipt from any amount received by the custodian in respect of the U.S.
Government Obligation or the specific payment of principal or interest evidenced by such depositary receipt. 

  
 46 

 (b) In the event of an election to have Section 13.02 apply to any Securities or
any series of Securities, as the case may be, the Company shall have delivered to the Trustee an Opinion of Counsel stating that (A) the Company has received from, or there has been published by, the Internal Revenue Service a ruling or
(B) since the date of this Indenture, there has been a change in the applicable Federal income tax law, in either case (A) or (B) to the effect that, and based thereon such opinion shall confirm that, the Holders of such Securities
will not recognize gain or loss for Federal income tax purposes as a result of the deposit, Defeasance and discharge to be effected with respect to such Securities and will be subject to Federal income tax on the same amount, in the same manner and
at the same times as would be the case if such deposit, Defeasance and discharge were not to occur. 
 (c) In the event of an election to
have Section 13.03 apply to any Securities or any series of Securities, as the case may be, the Company shall have delivered to the Trustee an Opinion of Counsel that shall confirm that the Holders of such Securities will not recognize
gain or loss for Federal income tax purposes as a result of the deposit and Covenant Defeasance to be effected with respect to such Securities and will be subject to Federal income tax on the same amount, in the same manner and at the same times as
would be the case if such deposit and Covenant Defeasance were not to occur. 
 (d) The Company shall have delivered to the Trustee an
Officer’s Certificate to the effect that neither such Securities nor any other Securities of the same series, if then listed on any securities exchange, will be delisted as a result of such deposit. 

(e) No event which is, or after notice or lapse of time or both would become, an Event of Default shall have occurred and be continuing at the
time of such deposit (other than such event or Event of Default (if any) resulting from the incurrence of indebtedness or the grant of liens securing such indebtedness, all or a portion of the proceeds of which will be applied to such deposit) or,
with regard to any such event specified in Sections 5.01(e) and (f), at any time on or prior to the 90th day after the date of such deposit (it being understood that this condition shall not be deemed satisfied until after such 90th
day). 
 (f) Such deposit shall not result in a breach of, or constitute a default under, any material agreement or instrument (other than
this Indenture) to which the Company is a party or by which it is bound, or if such breach or default would occur, which is not waived as of, and for all purposes, on and after, the date of such deposit. 

(g) The Company shall have delivered to the Trustee an Officer’s Certificate and an Opinion of Counsel, each stating that all conditions
precedent with respect to such Defeasance or Covenant Defeasance have been complied with (in each case, subject to the satisfaction of the condition in Clause (e)). 

Before or after a deposit, the Company may make arrangements satisfactory to the Trustee for the redemption of Securities at a future date in accordance with
Article XI. 
 Section 13.05 Deposited Money and U.S. Government Obligations to Be Held in Trust; Miscellaneous
Provisions. 
 Subject to the provisions of the last paragraph of Section 10.03, all money and U.S. Government Obligations
(including the proceeds thereof) deposited with the Trustee or other qualifying trustee (solely for purposes of this Section and Section 13.06, the Trustee and any such other trustee are referred to collectively as the
“Trustee”) pursuant to Section 13.04 in respect of any Securities shall be held in trust and applied by the Trustee, in accordance with the provisions of such Securities and this Indenture, to the payment, either directly or
through any such Paying Agent (including the Company acting as its own Paying Agent) as the Trustee may determine, to the Holders of such Securities, of all sums, due and to become due thereon in respect of principal and any premium and interest,
but money so held in trust need not be segregated from other funds except to the extent required by law. 

  
 47 

 The Company shall pay and indemnify the Trustee against any tax, fee or other charge imposed
on or assessed against the U.S. Government Obligations deposited pursuant to Section 13.04 or the principal and interest received in respect thereof other than any such tax, fee or other charge which by law is for the account of the
Holders of Outstanding Securities; provided that the Trustee shall be entitled to charge any such tax, fee or other charge to such Holder’s account. 

Anything in this Article to the contrary notwithstanding, the Trustee shall deliver or pay to the Company from time to time upon Company
Request any money or U.S. Government Obligations held by it as provided in Section 13.04 with respect to any Securities which are in excess of the amount thereof which would then be required to be deposited to effect the Defeasance or
Covenant Defeasance, as the case may be, with respect to such Securities. 
 Section 13.06 Reinstatement. 

If the Trustee or the Paying Agent is unable to apply any money in accordance with this Article with respect to any Securities by reason of any
order or judgment of any court or governmental authority enjoining, restraining or otherwise prohibiting such application, then the obligations under this Indenture, such Securities from which the Company has been discharged or released pursuant to
Section 13.02 or 13.03 shall be revived and reinstated as though no deposit had occurred pursuant to this Article with respect to such Securities, until such time as the Trustee or Paying Agent is permitted to apply all money held
in trust pursuant to Section 13.05 with respect to such Securities in accordance with this Article; provided, however, that (a) if the Company makes any payment of principal of or any premium or interest on any such Security
following such reinstatement of its obligations, the Company shall be subrogated to the rights (if any) of the Holders of such Securities to receive such payment from the money so held in trust and (b) unless otherwise required by any legal
proceeding or any order or judgment of any court or governmental authority, the Trustee or Paying Agent shall return all such money and U.S. Government Obligations to the Company promptly after receiving a written request therefor at any time, if
such reinstatement of the Company’s obligations has occurred and continues to be in effect. 
 [signature pages follow] 

  
 48 

 IN WITNESS WHEREOF, the parties hereto have caused this Indenture to be duly executed as of
the day and year first above written. 
  

			
	Invivyd, Inc.
		
	By:	 	  

	Name:	 	  

	Title:	 	  

	
	[                             ], as Trustee
		
	By:	 	  

	Name:	 	  

	Title:	 	  

  
 49Exhibit 10.19

 

OFFICE/LABORATORY LEASE

 

BETWEEN

 

EMERY STATION OFFICE II, LLC (LANDLORD)

 

AND

 

LIGAND PHARMACEUTICALS INCORPORATED (TENANT)

 

5980 Horton Street

Emeryville, California

 

     

     

    

 

Table
of Contents

 

Page

 

	Article 1 BASIC LEASE PROVISIONS	1
	1.1	BASIC LEASE PROVISIONS	1
	1.2	ENUMERATION OF EXHIBITS AND RIDER(S)	5
	1.3	DEFINITIONS	5
	 	 	 
	Article 2 PREMISES, TERM, FAILURE TO GIVE POSSESSION, AND PARKING	11
	2.1	LEASE OF PREMISES	11
	2.2	TERM	11
	2.3	FAILURE TO DELIVER POSSESSION	14
	2.4	CONDITION OF PREMISES	14
	2.5	PARKING	15
	2.6	TERMINATION OF EXISTING 4TH FLOOR LEASE TO CRYSTAL BIOSCIENCE.	15
	 	 	 
	Article 3 RENT	16
	 	 
	Article 4 RENT ADJUSTMENTS AND PAYMENTS	16
	4.1	RENT ADJUSTMENTS	16
	4.2	STATEMENT OF LANDLORD	17
	4.3	BOOKS AND RECORDS	18
	4.4	TENANT OR LEASE SPECIFIC TAXES	18
	 	 	 
	Article 5 SECURITY	19
	 	 
	Article 6 SERVICES	20
	6.1	LANDLORD’S GENERAL SERVICES	20
	6.2	UTILITIES AND JANITORIAL SERVICES	22
	6.3	ADDITIONAL AND AFTER HOUR SERVICES	22
	6.4	TELEPHONE SERVICES	23
	6.5	DELAYS IN FURNISHING SERVICES	23
	6.6	CHOICE OF SERVICE PROVIDER	24
	6.7	SIGNAGE	24
	 	 	 
	Article 7 USE OF PREMISES; LANDLORD’S ACCESS RIGHTS	25
	7.1	USE OF PREMISES	25
	7.2	LANDLORD ACCESS TO PREMISES; APPROVALS	34

 

    -i- 

     

    

 

TABLE OF CONTENTS

(continued)

 

Page

 

	7.3	QUIET ENJOYMENT	35
	7.4	TRANSPORTATION DEMAND MANAGEMENT PROGRAM	36
	 	 	 
	Article 8 MAINTENANCE	36
	8.1	LANDLORD’S MAINTENANCE	36
	8.2	TENANT’S MAINTENANCE	37
	8.3	SUDDEN WATER INTRUSION	37
	 	 	 
	Article 9 ALTERATIONS AND IMPROVEMENTS	38
	9.1	TENANT ALTERATIONS	38
	9.2	LIENS	39
	 	 	 
	Article 10 ASSIGNMENT AND SUBLETTING	39
	10.1	ASSIGNMENT AND SUBLETTING	39
	10.2	RECAPTURE	42
	10.3	EXCESS RENT	42
	10.4	TENANT LIABILITY	43
	10.5	ASSUMPTION AND ATTORNMENT	43
	10.6	PROCESSING EXPENSES	43
	10.7	EFFECT OF IMPERMISSIBLE TRANSFER	44
	 	 	 
	Article 11 DEFAULT AND REMEDIES	44
	11.1	DEFAULT	44
	11.2	LANDLORD’S REMEDIES	45
	11.3	ATTORNEY’S FEES	47
	11.4	BANKRUPTCY	48
	11.5	LANDLORD’S DEFAULT	49
	 	 	 
	Article 12 SURRENDER OF PREMISES	49
	12.1	IN GENERAL	49
	12.2	LANDLORD’S RIGHTS	50
	 	 	 
	Article 13 HOLDING OVER	50
	 	 
	Article 14 DAMAGE BY FIRE OR OTHER CASUALTY	50
	14.1	SUBSTANTIAL UNTENANTABILITY	50
	14.2	INSUBSTANTIAL UNTENANTABILITY	51

 

    -ii- 

     

    

 

TABLE OF CONTENTS

(continued)

 

Page

  

	14.3	RENT ABATEMENT	51
	14.4	WAIVER OF STATUTORY REMEDIES	52
	 	 	 
	Article 15 EMINENT DOMAIN	52
	15.1	TAKING OF WHOLE OR SUBSTANTIAL PART	52
	15.2	TAKING OF PART	52
	15.3	COMPENSATION	52
	 	 	 
	Article 16 INSURANCE	53
	16.1	TENANT’S INSURANCE	53
	16.2	FORM OF POLICIES	53
	16.3	LANDLORD’S INSURANCE	54
	16.4	WAIVER OF SUBROGATION	54
	16.5	NOTICE OF CASUALTY	55
	 	 	 
	Article 17 WAIVER OF CLAIMS AND INDEMNITY	55
	17.1	WAIVER OF CLAIMS	55
	17.2	INDEMNITY	56
	17.3	WAIVER OF CONSEQUENTIAL DAMAGES	56
	 	 	 
	Article 18 RULES AND REGULATIONS	56
	18.1	RULES	56
	18.2	ENFORCEMENT	56
	 	 	 
	Article 19 LANDLORD’S RESERVED RIGHTS	57
	 	 
	Article 20 ESTOPPEL CERTIFICATE	57
	20.1	IN GENERAL	57
	20.2	ENFORCEMENT	58
	 	 	 
	Article 21 RELOCATION OF TENANT	58
	 	 
	Article 22 REAL ESTATE BROKERS	58
	 	 
	Article 23 MORTGAGEE PROTECTION	59
	23.1	SUBORDINATION AND ATTORNMENT	59
	23.2	MORTGAGEE PROTECTION	59
	 	 	 
	Article 24 NOTICES	60
	 	 
	Article 25 FURNITURE, FIXTURES AND EQUIPMENT	60

 

    -iii- 

     

    

 

TABLE OF CONTENTS

(continued)

 

Page

 

	Article 26 MISCELLANEOUS	61
	26.1	LATE CHARGES	61
	26.2	NO JURY TRIAL; VENUE; JURISDICTION	61
	26.3	NO DISCRIMINATION	61
	26.4	FINANCIAL STATEMENTS	61
	26.5	OPTION	62
	26.6	TENANT AUTHORITY	62
	26.7	ENTIRE AGREEMENT	62
	26.8	MODIFICATION OF LEASE FOR BENEFIT OF MORTGAGEE	62
	26.9	EXCULPATION	62
	26.10	ACCORD AND SATISFACTION	64
	26.11	LANDLORD’S OBLIGATIONS ON SALE OF BUILDING	64
	26.12	BINDING EFFECT	64
	26.13	CAPTIONS	64
	26.14	TIME; APPLICABLE LAW; CONSTRUCTION	64
	26.15	ABANDONMENT	65
	26.16	LANDLORD’S RIGHT TO PERFORM TENANT’S DUTIES	65
	26.17	SECURITY SYSTEM	65
	26.18	NO LIGHT, AIR OR VIEW EASEMENTS	65
	26.19	RECORDATION	65
	26.20	SURVIVAL	65
	26.21	OFAC	66
	26.22	INSPECTION BY A CASP IN ACCORDANCE WITH CIVIL CODE SECTION 1938	66
	26.23	COUNTERPARTS	67
	26.24	EXHIBITS AND RIDERS	67

 

    -iv- 

     

    

 

OFFICE/LABORATORY LEASE

 

Article 1

BASIC LEASE PROVISIONS

 

		1.1	BASIC
LEASE PROVISIONS

 

In the event of any conflict
between these Basic Lease Provisions and any other Lease provision, such other Lease provision shall control.

 

		(1)	BUILDING AND ADDRESS:

 

5980 Horton Street 

Emeryville, California 94608

 

		(2)	LANDLORD AND ADDRESS:

 

Emery Station Office II, LLC 

1120 Nye Street, Suite 400 

San Rafael, California 94901

 

Notices to Landlord shall be addressed:

 

Emery Station Office II, LLC 

c/o Wareham Property Group 

1120 Nye Street, Suite 400 

San Rafael, California 94901

 

With a copy to:

 

Stewart Ward & Josephson LLP 

1601 Response Road, Suite 360 

Sacramento, California 95815 

Attention: Winnifred C. Ward, Esq.

 

And to:

 

Shartsis Friese LLP 

One Maritime Plaza, 18th Floor 

San Francisco, California 94901 

Attention: Senior Real Estate
Partner

 

		(3)	TENANT AND NOTICE ADDRESS:

 

		(a)	Name and Entity:

 

Ligand Pharmaceuticals Incorporated,
a Delaware corporation

 

    1 

     

    

 

		(b)	Federal Tax Identification Number:

 

77-0160744

 

Tenant shall promptly notify
Landlord of any change in the foregoing items.

 

		(c)	Notices to Tenant shall be addressed:

 

Prior to the Phase I Rent Commencement
Date:

 

3911
Sorrento Valley Blvd. #110

San Diego, CA 92121

Attention: General Counsel

 

On and after the Phase I Rent Commencement
Date:

 

At
the Premises

Attention: VP of Operations & General Counsel

  

(4)           DATE
OF LEASE: as of June 8, 2021

 

(5)           INITIAL
TERM:     Commencing on the Phase I Commencement Date, and ending on
the last day of the one hundred twentieth (120th) full calendar month following the Phase II Commencement Date

 

(6)           PROJECTED
COMMENCEMENT DATES:

 

(a)     Phase
I Premises:     July 1, 2021

 

(b)     Phase
II Premises:   The date that the Existing Tenant vacates the Phase
II Premises and possession thereof is delivered to Tenant, which date is estimated to be April 1, 2022

 

(7)           RENT
COMMENCEMENT DATES:

 

(a)     Phase
I Premises:     Sixty (60) days after the Phase I Commencement Date.

 

(b)     Phase
II Premises:   Sixty (60) days after the Phase II Commencement Date.

 

    2 

     

    

 

(8)           EXPIRATION
DATE: The last day of the 120th full calendar month following the Phase II Rent Commencement Date

 

(9)           MONTHLY
BASE RENT:

 

	MONTHS
OF TERM FOLLOWING PHASE I

RENT COMMENCEMENT DATE*	MONTHLY RATE PER RENTABLE 

SQUARE FOOT OF PREMISES
	Months
01 – 12**	$6.00
	Months
13 – 24**	$6.21
	Month
25 – 36***	$6.43
	Month
37 – 48*** 	$6.66
	Month
49 – 60 	$6.89
	Month
61 – 72 	$7.13
	Month
73 – 84 	$7.38
	Month
85 – 96 	$7.64
	Month
97 – 108 	$7.91
	Month
108 – 120 	$8.19
	Month 121 – Month 120 following the Phase II Rent Commencement Date****	$8.48

 

*Based upon Phase I Rent Commencement Date, although
the Term is calculated from the Phase II Rent Commencement Date; see last row of above table.

 

**The Monthly Base Rent for the Phase II Premises
shall commence as of the Phase II Rent Commencement Date, which shall occur during either Months 01 – 12 after the Phase I Rent
Commencement Date, or during Months 13 – 24 after the Phase I Rent Commencement Date, and as of such occurrence, Tenant shall pay
Monthly Base Rent for the Phase II Premises, in addition to the Monthly Base Rent payable for the Phase I Premises, at the applicable
Monthly Base Rent Rate. “Months 01 – 24” will include any partial calendar month: (a) following the Phase I Rent
Commencement Date, if the Phase I Rent Commencement Date is other than the first (1st) day of a calendar month, and/or (b) following
the Phase II Rent Commencement Date, if the Phase II Rent Commencement Date is other than the first (1st) day of a calendar month, and
in the event such period includes any such partial calendar months, Tenant shall pay the prorated amount of Monthly Base Rent for such
partial calendar months pursuant to Article 3 in addition to the Monthly Base Rent for the subsequent full calendar months of the
Term.

 

    3 

     

    

 

 

 

***The
Monthly Base Rent, but not Operating Expenses, for the Phase I Premises and the Phase II Premises shall be abated for Months 26 and 38
of the Term (the “Abated Base Rent”). If a Default, as defined in Section 11.1 of this Lease, shall occur at any
time during the Term, then the Abated Base Rent shall upon the written request of Landlord become due and payable in addition to any other
remedies that Landlord may possess under this Lease.

 

****If this period is longer than 12 months, then
the Monthly Base Rent Rate shall increase to $8.78 per square foot of Rentable Area of the Premises.

 

(10)          PREMISES:

 

(a)          Phase
I Premises: The space located in the Building that is highlighted in yellow on Exhibit A attached hereto.

 

(b)          Phase
II Premises: The space located in the Building that is unhighlighted (i.e., in white) on Exhibit A attached hereto.

 

(11)          RENTABLE
AREA OF THE PREMISES: 25,429 square feet, comprised of:

 

(a)          Phase
I Premises: 8,816 square feet

 

(b)          Phase
II Premises: 16,613 square feet

 

(12)          TENANT’S
SHARE:

 

(a)          Phase
I Premises:       5.55%

 

(b)          Phase
II Premises:     10.42%

 

(13)     SECURITY
DEPOSIT:           $152,574.00

 

(14)     SUITE
NUMBER OF PREMISES:    600

 

(15)     TENANT’S
USE OF PREMISES:     Research and development laboratory use, and related
office use

 

(16)     PARKING:     Up
to fifty-one (51) unreserved parking spaces within the Terraces Garage. Upon providing not less than ten (10) days’ prior written
notice to Landlord (“Tenant’s Parking Adjustment Notice”), and not more often than once per month, Tenant may adjust
the number of parking spaces it leases during the Term (but in any event not to exceed 51 spaces). Any such adjustment shall take effect
as of the first (1st) day of the calendar month following Tenant’s Parking Adjustment Notice.

 

    4 

     

    

 

(17)          BROKERS:

 

Landlord’s
Broker:     N/A

 

Tenant’s
Broker:        RE:Align Tenant Strategies

 

(18)     TENANT
IMPROVEMENT ALLOWANCE:     $50.00 per square foot of Rentable Area of
the Premises (i.e., $1,271,450.00)

 

1.2          ENUMERATION
OF EXHIBITS AND RIDER(S)

 

The Exhibits and Rider set
forth below and attached to this Lease are incorporated in this Lease by this reference:

 

	EXHIBIT A	Outline of Premises 

	EXHIBIT B	Workletter Agreement 

	EXHIBIT C-1	Laboratory Rules and Regulations 

	EXHIBIT C-2	Rules and Regulations 

	EXHIBIT D	Crystal Bio Lease Extension Amendment 

	EXHIBIT E	FF&E 

	RIDER 1	Commencement Date Agreement

 

1.3          DEFINITIONS

 

For purposes hereof, in addition
to terms defined elsewhere in this Lease, the following terms shall have the following meanings:

 

AFFILIATE: Any corporation
or other business entity that is currently owned or controlled by, owns or controls, or is under common ownership or control with Tenant
or Landlord, as the case may be.

 

BANKRUPTCY CODE: As defined
in Section 11.3.

 

BUILDING: The building located
at the address specified in Section 1.1. The Building may include office, medical, laboratory, retail and other uses.

 

CABLE: As defined in Section 8.2.

 

CITY: The City of Emeryville,
California.

 

COMMON AREAS: All areas of
the Project made available by Landlord from time to time for the general common use or benefit of the tenants of the Building, and their
employees and invitees, or the public, as such areas currently exist and as they may be changed from time to time.

 

DEFAULT: As defined in Section 11.1.

 

    5 

     

    

 

DEFAULT RATE: Two (2) percentage
points above the rate then most recently announced by Bank of America N.A. at its San Francisco main office as its base lending reference
rate, from time to time announced, but in no event higher than the maximum rate permitted by Law.

 

EXISTING TENANT: As defined
in Section 2.3.

 

EXPIRATION DATE: The date
specified in Section 1.1.

 

FORCE MAJEURE: Any accident,
casualty, act of God, war or civil commotion, strike or labor troubles, or any cause whatsoever beyond the reasonable control of Landlord,
including water shortages, energy shortages or governmental preemption in connection with an act of God, a national emergency, or by reason
of Law, or by reason of the conditions of supply and demand which have been or are affected by act of God, war or other emergency.

 

Green
Building Standards: One or more of the following: the U.S. EPA’s Energy Star® Portfolio Manager, the Green Building Initiative’s
Green GlobesTM building rating system, the U.S. Green Building Council’s Leadership in Energy and Environmental Design (LEED®)
building rating system, the ASHRAE Building Energy Quotient (BEQ), the Global Real Estate Sustainability Benchmark (GRESB), or other standard
for high performance buildings adopted by Landlord with respect to the Building or the Project, as the same may be revised from time to
time.

 

HAZARDOUS MATERIALS: As defined
in Section 7.1(f).

 

HAZARDOUS MATERIALS LAWS:
As defined in Section 7.1(f).

 

INDEMNITEES: Collectively,
Landlord, any Mortgagee or ground lessor of the Property, the property manager and the leasing manager for the Property, and their respective
partners, members, directors, officers, agents and employees.

 

LAND: The parcel(s) of
real estate on which the Building and Project are located.

 

LANDLORD WORK: The construction
or installation of improvements to the Premises to be furnished by Landlord, if any, as specifically described in the Workletter or exhibits
attached hereto.

 

LAWS OR LAW: All laws, ordinances,
rules, regulations, other requirements, orders, rulings or decisions adopted or made by any governmental body, agency, department or judicial
authority having jurisdiction over the Property, the Premises or Tenant’s activities at the Premises and any covenants, conditions
or restrictions of record which affect the Property.

 

LEASE: This instrument and
all exhibits and riders attached hereto, as may be amended from time to time.

 

LEASEHOLD IMPROVEMENTS: As
defined in Section 12.1.

 

MONTHLY BASE RENT: The monthly
base rent specified in Section 1.1.

 

    6 

     

    

 

MORTGAGEE: Any holder of a
mortgage, deed of trust or other security instrument encumbering the Property.

 

NAMED TENANT: As defined in
Section 2.2(d).

 

NATIONAL HOLIDAYS: New Year’s
Day, Memorial Day, Independence Day, Labor Day, Thanksgiving Day and Christmas Day and other holidays recognized by Landlord and
the janitorial and other unions servicing the Building in accordance with their contracts.

 

OPERATING EXPENSES: All costs,
expenses and disbursements which Landlord shall pay or become obligated to pay directly in connection with the ownership, management,
operation, maintenance, replacement and repair of the Building and the Property, including, without limitation, property management fees;
costs and expenses of any capital expenditure or improvement that is Landlord’s responsibility under this Lease, and if Landlord
elects to amortize such costs and expenses over a period that Landlord may determine, such costs and expenses shall be together with interest
thereon at a rate reasonably determined by Landlord; an equitable allocation of management office expenses (including, without limitation,
office rent, supplies, equipment, salaries, wages, bonuses and other compensation relating to employees of Landlord or its agents engaged
in the management, operation, repair, or maintenance of the Building); and, if applicable, the cost of operating a fitness center and/or
any conference centers that are available for use by Tenant, as reasonably determined by Landlord. Operating Expenses shall not include:
(i) costs of alterations of the premises of tenants of the Project; (ii) costs of goods or services to the extent billed directly
to other tenants of the Project, including the cost incurred by Landlord in performing work to or for a tenant of space in the Project
(including Tenant) at such tenant’s cost and expense; (iii) depreciation charges; (iv) interest and principal payments
on loans except for loans for, or imputed interest on, capital expenditures or improvements which Landlord may elect to amortize as specified
above); (v) ground rental payments; (vi) real estate brokerage and leasing commissions; (vii) advertising and marketing
expenses; (viii) costs to the extent Landlord has been reimbursed for the same by insurance proceeds, condemnation awards, third
party warranties or other third parties (other than tenants’ reimbursement of Operating Expenses); (ix) expenses incurred in
negotiating leases of tenants in the Project or enforcing lease obligations of tenants in the Project; (x) Landlord’s general
corporate overhead; and (xi) costs directly incurred in connection with a sale, financing, refinancing or transfer of all or any
portion of the Project (except as provided for in the definition of Taxes, below). If any Operating Expense, though paid in one year,
relates to more than one calendar year, at the option of Landlord such expense may be proportionately allocated among such related calendar
years. Operating Expenses for the Property that are not, in Landlord’s reasonable discretion, allocable solely to either the office,
laboratory or retail portion of the Building shall be equitably allocated by Landlord between/amongst such uses. The above enumeration
of services and facilities shall not be deemed to impose an obligation on Landlord to make available or provide such services or facilities
except to the extent if any that Landlord has specifically agreed elsewhere in this Lease to make the same available or provide the same.

 

PHASE I COMMENCEMENT DATE:
The date determined pursuant to Article 2, which date is anticipated to be the Projected Phase I Commencement Date specified in Section 1.1.

 

    7 

     

    

 

PHASE II COMMENCEMENT DATE:
The date determined pursuant to Article 2, which date is anticipated to be the Projected Phase II Commencement Date specified in
Section 1.1.

 

PHASE I PREMISES: The space
defined in Section 1.1.

 

PHASE II PREMISES: The space
defined in Section 1.1.

 

PHASE I RENT COMMENCEMENT
DATE: The date determined pursuant to Section 1.1.

 

PHASE II RENT COMMENCEMENT
DATE: The date determined pursuant to Section 1.1.

 

PHASE I TENANT WORK: As defined
in the Work Letter.

 

PHASE II TENANT WORK: As defined
in the Work Letter.

 

PREMISES: Collectively, the
Phase I Premises and the Phase II Premises, at the Suite Number listed in Section 1.1.

 

PROJECT or PROPERTY: The Project
consists of the office and laboratory/research building with ground floor office and/or retail spaces located at the street address specified
in Section 1.1, and associated surface and garage parking as designated by Landlord from time to time, landscaping and improvements,
together with the Land, any associated interests in real property, and the personal property, fixtures, machinery, equipment, systems
and apparatus located in or used in conjunction with any of the foregoing. The Project may also be referred to as the Property.

 

Project’s
Sustainability Practices: The operations and maintenance practices for the Building, whether incorporated into the
Building’s Rules and Regulations, construction rules and regulations or separate written sustainability policies of
Landlord with respect to the Building or the Project, as the same may be revised from time to time so long as such revisions do not
materially and negatively impact Tenant’s use of the Premises, addressing, among other things: energy efficiency; energy
measurement and reporting; water usage; recycling, composting, and waste management; indoor air quality; and chemical use.

 

PROJECTED PHASE I COMMENCEMENT
DATE: The date specified in Section 1.1.

 

PROJECTED PHASE II COMMENCEMENT
DATE: The date specified in Section 1.1.

 

REAL PROPERTY: The Property
excluding any personal property.

 

RENT: Collectively, Monthly
Base Rent, Rent Adjustments and Rent Adjustment Deposits, and all other charges, payments, late fees or other amounts required to be paid
by Tenant under this Lease.

 

RENT ADJUSTMENT: Any amounts
owed by Tenant for payment of Operating Expenses and/or Taxes. The Rent Adjustments shall be determined and paid as provided in Article 4.

 

    8 

     

    

 

RENT ADJUSTMENT DEPOSIT: An
amount equal to Landlord’s estimate of the Rent Adjustment attributable to each month of the applicable calendar year (or partial
calendar year) during the Term, as provided in Article 4.

 

RENTABLE AREA OF THE PREMISES:
The amount of square footage set forth in Section 1.1.

 

SECURITY DEPOSIT: The funds
specified in Section 1.1, if any, deposited by Tenant with Landlord as security for Tenant’s performance of its obligations
under this Lease.

 

STANDARD OPERATING HOURS:
Monday through Friday from 8:00 A.M. to 6:00 P.M., and Saturday from 9:00 A.M. to 1:00 P.M., excluding National Holidays.

 

SUBSTANTIALLY COMPLETE or
SUBSTANTIAL COMPLETION: The completion of the Landlord Work, the Tenant Work, the Phase I Tenant Work or the Phase II Tenant Work, as
the case may be, as evidenced by receipt of a certificate of occupancy or similar certification from local, city and/or state administrative
bodies, except for minor insubstantial details of construction, decoration or mechanical adjustments which remain to be done. Substantial
Completion shall be deemed to have occurred notwithstanding a requirement to complete “punch-list” or similar minor corrective
work. If Landlord shall be delayed in Substantial Completion due to a Tenant Delay, the date of Substantial Completion for purposes of
determining the Rent Commencement Date shall be the date when Substantial Completion would have occurred if there had been no Tenant Delay.
Tenant acknowledges that the length of any Tenant Delay is to be measured by the duration of the delay in Substantial Completion caused
by the event or conduct constituting Tenant Delay, which may exceed the duration of such event or conduct due to the necessity of rescheduling
work or other causes.

 

TAXES: All federal, state
and local governmental taxes, assessments, license fees and charges, whether general, special, ordinary or extraordinary, which Landlord
shall pay or become obligated to pay directly in connection with the ownership, leasing, management, control, sale, transfer, or operation
of the Property or any of its components (including any personal property used in connection therewith) or Landlord’s business of
owning and operating the Property, which may also include any rental, revenue, general gross receipts or similar taxes levied in lieu
of or in addition to general real and/or personal property taxes. For purposes hereof, Taxes for any year shall be Taxes which are assessed
for any period of such year, whether or not such Taxes are billed and payable in a subsequent calendar year. There shall be included in
Taxes for any year the amount of all fees, costs and expenses (including reasonable attorneys’ fees) paid by Landlord during such
year in seeking or obtaining any refund or reduction of Taxes. Taxes for any year shall be reduced by the net amount of any tax refund
received by Landlord attributable to such year. If a special assessment payable in installments is levied against any part of the Property,
Taxes for any year shall include only the installment of such assessment and any interest payable or paid during such year. Taxes shall
be determined without reference to any abatement or exemption from or credit against Taxes applicable to all or part of the Property.
Taxes shall not include any federal or state inheritance, general income, gift or estate taxes, except that if a change occurs in the
method of taxation resulting in whole or in part in the substitution of any such taxes, or any other assessment, for any Taxes as above
defined, such substituted taxes or assessments shall be included in the Taxes. Tenant and Landlord acknowledge that Proposition 13 was
adopted by the voters of the State of California in the June, 1978 election and that assessments, taxes, fees, levies and charges may
be imposed by governmental agencies for such purposes as fire protection, street, sidewalk, road, utility construction and maintenance,
refuse removal and for other governmental services which may formerly have been provided without charge to property owners or occupants.
It is the intention of the parties that all new and increased assessments, taxes, fees, levies and charges due to any cause whatsoever
are to be included within the definition of Taxes for purposes of this Lease.

 

    9 

     

    

 

TENANT ADDITIONS: Collectively,
Landlord Work, Tenant Work and Tenant Alterations.

 

TENANT ALTERATIONS: Any alterations,
improvements, additions, installations or construction in or to the Premises or any Building systems serving the Premises (excluding Landlord
Work or Tenant Work); and any supplementary air-conditioning systems installed by Landlord or by Tenant at Landlord’s request pursuant
to Section 6.1(b).

 

TENANT DELAY: Any event or
occurrence that materially delays the completion of the Landlord Work, if any, which is caused by or is described as follows:

 

(i)          special
work, changes, alterations, additions, or any Change Orders (defined in the Workletter) requested or made by Tenant in the design or finish
in any part of the Premises after approval of the plans and specifications (as described in the Workletter);

 

(ii)          Tenant’s
delay in submitting plans, supplying information, approving plans, specifications or estimates, giving authorizations or otherwise;

 

(iii)          failure
to pay for those portions of Tenant Work that Tenant is obligated to pay for pursuant to the Workletter;

 

(iv)          the
performance or completion by Tenant or any person engaged by Tenant of any work in or about the Premises;

 

(v)          failure
to perform or comply with any obligation or condition binding upon Tenant pursuant to the Workletter, including the failure to approve
and pay for such Landlord Work or other items if and to the extent the Workletter provides they are to be approved or paid by Tenant;
or

 

(vi)          Any
other act or omission of Tenant which delays Substantial Completion.

 

TENANT PARTY OR TENANT PARTIES:
As defined in Section 7.1(f)(1)(x).

 

TENANT WORK: All work installed
or furnished to the Premises by Tenant, if any, pursuant to the Workletter.

 

    10 

     

    

 

TENANT’S SHARE: The
percentage that represents the ratio of the Rentable Area of the Premises to the Rentable Area of the Building, as set forth in Section 1.1.
Tenant’s Share shall mean only the percentage that represents the ratio of the Rentable Area of the Phase I Premises to the Rentable
Area of the Building as of the Phase I Rent Commencement Date, and shall mean the percentage that represents the ratio of the Rentable
Area of the entire Premises to the Rentable Area of the Building as of the Phase II Rent Commencement Date

 

TERM: The initial term of
this Lease commencing on the Commencement Date and expiring on the Expiration Date, and extension of the initial term, if any.

 

TERMINATION DATE: The Expiration
Date or such earlier date as this Lease terminates or Tenant’s right to possession of the Premises terminates.

 

WORKLETTER: The Agreement
regarding the manner of completion of Landlord Work and Tenant Work set forth on Exhibit B attached hereto.

 

Article 2

PREMISES, TERM, FAILURE TO GIVE POSSESSION, AND PARKING

 

2.1          LEASE
OF PREMISES

 

Landlord hereby leases to
Tenant and Tenant hereby leases from Landlord the Premises for the Term and upon the terms, covenants and conditions provided in this
Lease. The parties acknowledge and agree that the Rentable Area set forth in this Lease has been conclusively determined and is deemed
final for the purposes of this Lease.

 

2.2          TERM

 

(a)          The
 “Phase I Commencement Date” shall be (i) the date on which Landlord has substantially completed the Landlord Work (if
any) and tendered possession of the Phase I Premises to Tenant; or (ii) any earlier date upon which Tenant, with Landlord’s
written permission, takes possession of any portion of the Phase I Premises to commence construction of the Tenant Work.

 

(b)          The
 “Phase II Commencement Date” shall be (i) the date on which Landlord has substantially completed the Landlord Work (if
any) and tendered possession of the Phase II Premises to Tenant; or (ii) any earlier date upon which Tenant, with Landlord’s
written permission, takes possession of any portion of the Phase II Premises to commence construction of the Tenant Work.

 

(c)          Within
thirty (30) days following the occurrence of the Rent Commencement Date, Landlord and Tenant shall enter into an agreement (the form of
which is attached hereto as Rider 1) confirming the Phase I Commencement Date, the Phase II Commencement Date, the Phase I Rent Commencement
Date, the Phase II Rent Commencement Date and the Expiration Date. If Tenant fails to enter into such agreement, then the Phase I Commencement
Date, the Phase II Commencement Date, the Phase I Rent Commencement Date, the Phase I Rent Commencement Date and the Expiration Date shall
be the dates designated by Landlord in such agreement.

 

    11 

     

    

 

(d)          Option
to Extend. Provided that at the time of exercise and at all times prior to the commencement of the subject Extended Term, Tenant shall
not be in default under this Lease or otherwise failed to have timely performed all of Tenant’s obligations under this Lease, the
Term of this Lease shall be subject to two (2) extension options for an additional period of 60 months each (individually, the “Extension
Option”, and collectively, the “Extension Options”). The first Extension Option shall commence as of the expiration
of the Initial Term and expire on the date that is 60 full calendar months thereafter (the “First Extended Term”), and the
second Extension Option shall commence as of the expiration of the First Extended Term and expire on the date that is 60 full calendar
months thereafter (the “Second Extended Term”, and individually with the First Extended Term, an “Extended Term”).
The Extension Options shall be exercisable as follows:

 

(1)          The
Extension Option shall be upon the same material terms and conditions contained in this Lease, except that (i) the initial Monthly
Base Rent for the Premises shall be equal to the Fair Market Rent (as defined in Section 2.2(d)(2) below) for the Premises as
of the first month of the subject Extension Option determined in the manner set forth in Section 2.2(d)(3) below and (ii) Tenant
shall accept the Premises in an “as is” condition without any obligation of Landlord to repaint, remodel, repair, improve
or alter the Premises (subject, however, to the terms of Section 8.1 of this Lease).

 

(2)          Tenant’s
election to exercise an Extension Option must be given to Landlord in writing no less than eight (8) months prior to (i) the
expiration of the initial Term (as to the first Extension Option), or (ii) the expiration of the First Extended Term (as to the second
Extension Option) (the “Extension Notice”). Within thirty (30) days of Landlord’s receipt of the Extension Notice, Landlord
shall send Tenant written notice of Landlord’s determination of the Fair Market Rent for the Premises (the “Fair Market Rent
Notice”). For purposes of this Section, the term “Fair Market Rent” shall mean the base rental rate, periodic rental
rate adjustment and other charges and increases, if any, for space comparable in size, location and quality to the Premises under a primary
lease (and not sublease) to new or renewing tenants, for a comparable term with a tenant improvement allowance, if applicable and taking
into consideration such amenities as existing improvements, view, floor on which the Premises are situated and the like, situated in buildings
in Emeryville, California. Notwithstanding anything to the contrary contained herein, the subject Extension Option shall automatically
terminate and be of no further force or effect, whether or not Tenant has timely exercised such Extension Option, if an uncured Default
exists at the time of exercise of such Extension Option or at the time of commencement of the subject Extended Term.

 

(3)          If
Tenant properly exercises an Extension Option, the Monthly Base Rent during the applicable Extended Term shall be determined in the following
manner. The Monthly Base Rent as of the commencement of such Extended Term shall be adjusted to an amount equal to the Fair Market Rent
for the Premises as specified in the Fair Market Rent Notice, subject to Tenant’s right of arbitration as set forth below. If Tenant
believes that the Fair Market Rent specified in the Fair Market Rent Notice exceeds the actual Fair Market Rent for the Premises as of
the date of such notice, then Tenant shall so notify Landlord within fifteen (15) days of Tenant’s receipt of the Fair Market Rent
Notice. If Tenant fails to so notify Landlord within such 15-day period, Landlord’s determination of the Fair Market Rent shall
be final and binding upon the parties. If the parties are unable to agree upon the Fair Market Rent within ten (10) days after Landlord’s
receipt of Tenant’s objection to the Fair Market Rent Notice, the amount of Monthly Base Rent as of the commencement of the subject
Extended Term shall be determined as follows:

 

(i)          Within
20 days after the 10-day period has expired and the parties have failed to agree on the Fair Market Rent, Tenant, at its sole expense,
shall obtain and delivery in writing to Landlord a determination of the Fair Market Rent for the Premises for a term equal to the subject
Extended Term from a broker (“Tenant’s Broker”) licensed in the State of California and engaged in the office and laboratory
brokerage business in Emeryville, California or other nearby markets, for at least the immediately preceding five (5) years. If Landlord
accepts such determination, the Monthly Base Rent for such Extended Term shall be adjusted to an amount equal to the amount determined
by Tenant’s Broker.

 

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(ii)          If
Landlord does not accept such determination, within 10 days after receipt of the determination of Tenant’s broker, Landlord shall
designate a broker (“Landlord’s Broker”) licensed in the State of California and engaged in the office and laboratory
brokerage business in Emeryville, California or other nearby markets, for at least the immediately preceding five (5) years. Landlord’s
Broker and Tenant’s Broker shall name a third broker, similarly qualified, within five (5) days after appointment of Landlord’s
Broker. Landlord’s Broker and Tenant’s Broker shall each determine the Fair Market Rent for the Premises as of the commencement
of the subject Extended Term for a term equal to such Extended Term within 10 days after the appointment of the third broker. The Monthly
Base Rent payable by Tenant effective as of the commencement of such Extended Term shall be adjusted to an amount equal to the determination
of Fair Market Rent made by either Landlord’s Broker or Tenant’s Broker that the third broker finds to be closer to the Fair
Market Rent.

 

(iii)          Landlord
shall pay the costs and fees of Landlord’s Broker in connection with any determination hereunder, and Tenant shall pay the costs
and fees of Tenant’s Broker in connection with such determination. The costs and fees of any third broker shall be paid one-half
by Landlord and one-half by Tenant.

 

(4)          If
the amount of the Fair Market Rent is not known as of the commencement of the subject Extended Term, then Tenant shall continue to pay
the Monthly Base Rent for the Premises in effect at the expiration of such Extended Term until the amount of the Fair Market Rent is determined.
When such determination is made, Tenant shall pay any deficiency (if any exists) to Landlord upon demand and Landlord shall credit to
Tenant any surplus (if any exists).

 

(5)          In
connection with the extension of the Term pursuant to Tenant’s exercise of an Extension Option, the parties acknowledge and agree
that Landlord shall not be responsible for the payment to any real estate broker, salesperson or finder claiming to have represented Tenant
of any commission, finder’s fee or other compensation in connection with or as a consequence of Tenant’s exercise of such
Extension Option.

 

(6)          Notwithstanding
anything to the contrary contained herein, Tenant’s rights under this Section 2.2(d) are personal to the original Tenant
executing this Lease (“Named Tenant”) and shall not be assigned or assignable, in whole or in part, to any third party. Any
assignment or other transfer of such rights by Named Tenant shall be void and of no force or effect. Without limiting the generality of
the foregoing, no sublessee of the Premises shall be permitted to exercise the rights granted to Tenant under this Section 2.2(d).

 

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2.3          FAILURE
TO DELIVER POSSESSION

 

If (a) the Phase I Premises
are not delivered to Tenant by the Projected Phase I Commencement Date for any reason, or (b) the Phase II Premises are not delivered
to Tenant by the Projected Phase II Commencement Date for any reason, Landlord shall not be liable for any claims, damages or liabilities
by reason thereof, nor affect the validity of this Lease or the obligations of Tenant hereunder. Landlord and Tenant acknowledge and agree
that the Phase I Premises are vacant as of the date of this Lease. If the tenant occupying the Phase II Premises (the “Existing
Tenant”) does not vacate the Phase II Premises prior to the Projected Phase II Commencement Date (e.g. April 1, 2022),
Landlord shall make commercially reasonable efforts to regain legal possession of the Phase II Premises as soon as possible, including
pursuing all available remedies at law or in equity to evict such tenant. Landlord represents and warrants to Tenant that (a) pursuant
to the express terms of the Existing Tenant’s lease (the “Existing Tenant Lease”), such Existing Tenant Lease is scheduled
to expire on June 30, 2022 (the “Existing Tenant Lease Expiration Date”), and (b) the Existing Tenant does not have
any rights to remain in or otherwise occupy the Phase II Premises beyond the Existing Tenant Lease Expiration Date. Notwithstanding anything
in this Section 2.3 to the contrary, if Landlord fails to deliver the Phase II Premises to Tenant by the Projected Phase II
Commencement Date, then Landlord will credit against the first installments of Monthly Base Rent and Rent Adjustments Deposits first becoming
due under this Lease an amount equal to one (1) day of Monthly Base Rent and Rent Adjustments Deposits allocable to the Phase II
Premises for each day that delivery is delayed beyond the Projected Phase II Commencement Date. The remedy set forth above shall be Tenant’s
sole remedy in the event of a delay in delivering possession of the Phase II Premises to Tenant. In no event shall Landlord be liable
for special or consequential damages as a result of any such delay.

 

2.4          CONDITION
OF PREMISES

 

Tenant shall be
conclusively deemed to have accepted: (a) the Phase I Premises “AS IS” in the condition existing on the Phase I
Commencement Date, and (b) the Phase II Premises “AS IS” in the condition existing on the Phase II Commencement
Date, both subject to the terms and conditions of this Lease (including without limitation any repair and maintenance obligations of
Landlord, and the systems serving the Premises, the Building and the Project being in good order and repair as of the subject
Commencement Date). No agreement of Landlord to alter, remodel, decorate, clean or improve the Premises or the Real Property and no
representation regarding the condition of the Premises or the Real Property has been made by or on behalf of Landlord to Tenant,
except as may be specifically stated in this Lease or in the Workletter. Landlord will deliver the Phase I Premises and the Phase II
Premises with all HVAC systems in good operating condition on the Phase I Commencement Date and the Phase II Commencement Date.
Should Tenant determine that there is any noncompliance with the foregoing delivery condition and provide Landlord with a written
notice thereof, Landlord shall promptly after receipt of written notice from Tenant setting forth with specificity the nature and
extent of such noncompliance, rectify the same at Landlord’s expense; such noncompliance shall not, however, entitle Tenant to
an abatement of rent or to terminate this Lease, or otherwise release Tenant from any of Tenant’s obligations under this
Lease.

 

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2.5          PARKING

 

During the Term, Tenant may
use up to the number of spaces specified in Section 1.1 for parking at the standard prevailing monthly rates being charged from time
to time by Landlord or its parking operator without regard to discounts provided to any other occupants of the Building. Tenant may adjust
the number of spaces it uses upon not less than thirty (30) days prior written notice to Landlord. In the event Tenant fails at any time
to pay the full amount of such parking charges within 30 days following Landlord’s notice to Tenant of such failure to pay, Tenant’s
parking rights shall be reduced to the extent of Tenant’s failure to pay for any such parking. The locations and type of parking
(including, without limitation, valet parking, if any) shall be designated by Landlord or Landlord’s parking operator from time
to time. Tenant acknowledges and agrees that the parking spaces serving the Project may include tandem or valet parking and a mixture
of spaces for compact vehicles as well as full-size passenger automobiles, and that Tenant shall not use parking spaces for vehicles larger
than the striped size of the parking spaces. All vehicles utilizing Tenant’s parking spaces shall prominently display identification
stickers or other markers, and/or have passes or keycards for ingress and egress, as may be required and provided by Landlord or its parking
operator from time to time. Tenant shall comply with any and all parking rules and regulations from time to time established by Landlord
or Landlord’s parking operator, including a requirement that Tenant pay to Landlord or Landlord’s parking operator a charge
for loss and replacement of passes, keycards, identification stickers or markers, and for any and all loss or other damage caused by persons
or vehicles related to use of Tenant’s parking spaces. Tenant shall not allow any vehicles using Tenant’s parking spaces to
be parked, loaded or unloaded except in accordance with this Section, including in the areas and in the manner designated by Landlord
or its parking operator for such activities. If any vehicle is using the parking or loading areas contrary to any provision of this Section,
Landlord or its parking operator shall have the right, in addition to all other rights and remedies of Landlord under this Lease, to remove
or tow away the vehicle without prior notice to Tenant, and the cost thereof shall be paid to Landlord within ten (10) days after
notice from Landlord.

  

2.6          TERMINATION
OF EXISTING 4TH FLOOR LEASE TO CRYSTAL BIOSCIENCE.

 

Tenant’s Affiliate,
Crystal Bioscience, Inc. (“Crystal Bio”), currently leases space on the 4th Floor of the Building known as
Suite 405 (“Suite 405”) pursuant to the terms of that certain Lab Lease dated February 19, 2009 (as amended,
the “Crystal Bio Lease”), the term of which lease expires as of August 31, 2021 (the “Original Crystal Bio Lease
Expiration Date”). It is the intent of the parties that that the Original Crystal Bio Lease is hereby revised to be the date that
is thirty (30) days after Tenant has Substantially Completed the Phase II Tenant Work (the “Revised Crystal Bio Lease Expiration
Date”). Crystal Bio shall continue to have use of its parking spaces under the terms and conditions of the Crystal Bio Lease until
the Revised Crystal Bio Lease Expiration Date. Tenant shall cause Crystal Bio to: (i) surrender Suite 405 to Landlord in accordance
with the terms of the Crystal Bio Lease (including, without limitation, decommissioning and decontaminating Suite 405 using a reputable
third-party vendor reasonably acceptable to Landlord) on or before the Revised Crystal Bio Lease Expiration Date, and (ii) enter
into amendment to the Crystal Bio Lease extending the Term thereof to the Revised Crystal Bio Lease Expiration Date, in substantially
the form attached as Exhibit D hereto.

 

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Article 3

RENT

 

From
and after the Phase I Rent Commencement Date, Tenant shall pay to Landlord at the address specified in Section 1.1, or to
such other persons, or at such other places designated by Landlord, without any prior demand therefor in immediately available funds and
without any deduction or offset whatsoever, Rent, including Monthly Base Rent and Rent Adjustments in accordance with Article 4,
during the Term. Monthly Base Rent shall be paid monthly in advance on or prior to the first day of each month of the Term, except that
the first installment of Monthly Base Rent due for the period commencing with the Phase II Rent Commencement Date in the Monthly Base
Rent table set forth in Section 1.1 shall be paid by Tenant to Landlord concurrently with Tenant’s execution of this Lease.
Monthly Base Rent shall be prorated for partial months within the Term. Tenant’s covenant to pay Rent shall be independent of every
other covenant in this Lease.

 

Article 4

RENT ADJUSTMENTS AND PAYMENTS

 

4.1          RENT
ADJUSTMENTS

 

(a)          From
and after (i) the Phase I Rent Commencement Date, as to the Phase I Premises, and (ii) the Phase II Rent Commencement Date,
as to the Phase II Premises, Tenant shall pay to Landlord Rent Adjustments with respect to each calendar year (or partial calendar year
in the case of the year in which the subject Rent Commencement Date and the Termination Date occur) as follows:

 

(1)          The
Rent Adjustment Deposit representing Tenant’s Share of Operating Expenses for the applicable calendar year (or partial calendar
year), monthly during the Term with the payment of Monthly Base Rent;

 

(2)          The
Rent Adjustment Deposit representing Tenant’s Share of Taxes for the applicable calendar year (or partial calendar year), monthly
during the Term with the payment of Monthly Base Rent; and

 

(3)          Any
Rent Adjustments due in excess of the Rent Adjustment Deposits in accordance with Section 4.2. Rent Adjustments due from Tenant to
Landlord for any calendar year (or partial calendar year) shall be Tenant’s Share of Operating Expenses for such calendar year (or
partial calendar year) and Tenant’s Share of Taxes for such calendar year (or partial calendar year).

 

(b)          On
or before the beginning of each calendar year or with Landlord’s Statement (as defined in Section 4.2 below), Landlord may
estimate and notify Tenant in writing of its estimate of the amount of Operating Expenses and Taxes payable by Tenant for such calendar
year. Prior to the first determination by Landlord of the amount of Operating Expenses and Taxes for the first calendar year, Landlord
may estimate such amounts in the foregoing calculation. Landlord shall have the right from time to time during any calendar year to provide
a new or revised estimate of Operating Expenses and/or Taxes and to notify Tenant in writing thereof, of corresponding adjustments in
Tenant’s Rent Adjustment Deposit payable over the remainder of such year, and of the amount or revised amount due allocable to months
preceding such change. The last estimate by Landlord shall remain in effect as the applicable Rent Adjustment Deposit unless and until
Landlord notifies Tenant in writing of a change, which notice may be given by Landlord from time to time during any calendar year throughout
the Term.

 

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(c)          For
purposes of determining Rent Adjustments, if the Building or Property is not fully occupied during all or a portion of any calendar year
during the Term, Landlord shall make appropriate adjustments to the variable components of Operating Expenses for such calendar year (or
partial calendar year), employing sound accounting and management principles consistently applied, to determine the amount of Operating
Expenses that would have been paid or incurred by Landlord had the Building or Property been one hundred percent (100%) occupied, and
the amount so determined shall be deemed to have been the amount of Operating Expenses for such calendar year (or partial calendar year).
In the event that the Property is not fully assessed for all or a portion of any calendar year (or partial calendar year) during the Term,
then Taxes shall be adjusted to an amount which would have been payable in such calendar year (or partial calendar year) if the Property
had been fully assessed. In the event any other tenant in the Building provides itself with a service of a type which Landlord would supply
under this Lease without an additional or separate charge to Tenant, then Operating Expenses shall be deemed to include the cost Landlord
would have incurred had Landlord provided such service to such other tenant. In addition, Landlord shall have the right, at its sole discretion,
from time to time, to equitably allocate certain Operating Expenses among only certain tenants of the Project as to any expense or cost
that relates to a repair, replacement or service that benefits only those tenants, and the Rent Adjustments shall reflect any such allocations.

 

4.2          STATEMENT
OF LANDLORD

 

As soon as practical after
the expiration of each calendar year, Landlord will furnish Tenant with a statement respecting the prior calendar year (“Landlord’s
Statement”) showing the following:

 

(a)          Operating
Expenses and Taxes for such calendar year;

 

(b)          The
amount of Rent Adjustments due Landlord for the last calendar year, less credit for Rent Adjustment Deposits paid, if any; and

 

(c)          Any
change in the Rent Adjustment Deposit due monthly in the current calendar year, including the amount or revised amount due for months
preceding any such change pursuant to Landlord’s Statement.

 

Tenant shall pay to
Landlord within ten (10) days after receipt of such statement any amounts for Rent Adjustments then due in accordance with
Landlord’s Statement. Any amounts due from Landlord to Tenant pursuant to this Section shall be credited to the Rent
Adjustment Deposit next coming due, or refunded to Tenant if the Term has already expired, provided Tenant is not in default
hereunder. No interest or penalties shall accrue on any amounts that Landlord is obligated to credit or refund to Tenant by reason
of this Section 4.2. Landlord’s failure to deliver Landlord’s Statement or to compute the amount of the Rent
Adjustments shall not constitute a waiver by Landlord of its right to deliver such items nor constitute a waiver or release of
Tenant’s obligations to pay such amounts. The Rent Adjustment Deposit shall be credited against Rent Adjustments due for the
applicable calendar year (or partial calendar year). During the last complete calendar year or during any partial calendar year in
which this Lease terminates, Landlord may include in the Rent Adjustment Deposit its estimate of Rent Adjustments which might not be
finally determined until after the termination of this Lease. Tenant’s obligation to pay Rent Adjustments survives the
expiration or termination of this Lease. Notwithstanding the foregoing, in no event shall the sum of Monthly Base Rent and the Rent
Adjustments be less than the Monthly Base Rent payable under this Lease.

 

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4.3          BOOKS
AND RECORDS

 

Landlord
shall maintain books and records showing Operating Expenses and Taxes in accordance with sound accounting and management practices,
consistently applied. Tenant or its representative (which representative shall be a certified public accountant licensed to do business
in the state in which the Property is located and whose primary business is certified public accounting and who shall not be paid on a
contingency basis) shall have the right, for a period of sixty (60) days following the date upon which Landlord’s Statement is delivered
to Tenant, to examine Landlord’s books and records with respect to the items in the foregoing statement of Operating Expenses and
Taxes during normal business hours, upon written notice, delivered at least five (5) business days in advance. Tenant shall pay for
all costs of such examination. If Tenant performs such examination, but does not object in writing to Landlord’s Statement within
ninety (90) days after Tenant’s receipt thereof, specifying the nature of the item in dispute and the reasons therefor, then Landlord’s
Statement shall be considered final and accepted by Tenant and Tenant shall be deemed to have waived its right to dispute Landlord’s
Statement. If Tenant does dispute any Landlord’s Statement, Tenant shall deliver a copy of any such audit to Landlord at the time
of notification of the dispute. If Tenant does not provide such notice of dispute and a copy of such audit to Landlord within such ninety
(90) day period, it shall be deemed to have waived such right to dispute Landlord’s Statement. Any amount due to Landlord as shown
on Landlord’s Statement, whether or not disputed by Tenant as provided herein shall be paid by Tenant when due as provided above,
without prejudice to any such written exception. In no event shall Tenant be permitted to examine Landlord’s records or to dispute
any statement of Operating Expenses and Taxes unless Tenant has paid and continues to pay all Rent when due. Upon resolution of any dispute
with respect to Operating Expenses and Taxes, Tenant shall either pay Landlord any shortfall or Landlord shall credit Tenant with respect
to any overages paid by Tenant. The records obtained by Tenant shall be treated as confidential and neither Tenant nor any of its representatives
or agents shall disclose or discuss the information set forth in the audit to or with any other person or entity (the “Confidentiality
Requirement”). Tenant shall indemnify and hold Landlord harmless for any losses or damages arising out of the breach of the Confidentiality
Requirement.

 

4.4          TENANT
OR LEASE SPECIFIC TAXES

 

In addition to Monthly Base
Rent, Rent Adjustments, Rent Adjustment Deposits and other charges to be paid by Tenant, Tenant shall pay to Landlord, upon demand, any
and all taxes payable by Landlord (other than federal or state inheritance, general income, gift or estate taxes) whether or not now customary
or within the contemplation of the parties hereto: (a) upon, allocable to, or measured by the Rent payable hereunder, including any
gross receipts tax or excise tax levied by any governmental or taxing body with respect to the receipt of such Rent; or (b) upon
or with respect to the possession, leasing, operation, management, maintenance, alteration, repair, use or occupancy by Tenant of the
Premises or any portion thereof; or (c) upon the measured value of Tenant’s personal property located in the Premises or in
any storeroom or any other place in the Premises or the Property, or the areas used in connection with the operation of the Property,
it being the intention of Landlord and Tenant that, to the extent possible, such personal property taxes shall be billed to and paid directly
by Tenant; (d) resulting from any Landlord Work, Tenant Work, Tenant Alterations, or any other improvements to the Premises, whether
title thereto is in Landlord or Tenant; or (e) upon this transaction. Taxes or supplemental taxes paid by Tenant pursuant to this
Section 4.4 shall not be included in any computation of Taxes payable pursuant to Sections 4.1 and 4.2, but standard property management
fees shall apply to any such payments.

 

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Article 5

SECURITY

 

(a)            Simultaneously
with Tenant’s execution and delivery of this Lease to Landlord, Tenant shall pay Landlord in immediately available funds the
cash amount of the Security Deposit for the full and faithful performance by Tenant of each and every term, provision,
covenant, and condition of this Lease. If Tenant fails timely to perform any of the terms, provisions, covenants and conditions of
this Lease or any other document executed by Tenant in connection with this Lease, then Landlord may use, apply, or retain the whole
or any part of the Security Deposit for the payment of any Rent not paid when due, for the cost of repairing any damage, for the
cost of cleaning the Premises, for the payment of any other sum which Landlord may expend or may be required to expend by reason of
Tenant’s failure to perform, and otherwise for compensation of Landlord for any other loss or damage to Landlord occasioned by
Tenant’s failure to perform, including, but not limited to, any loss of future Rent and any damage or deficiency in the
reletting of the Premises (whether such loss, damages or deficiency accrue before or after summary proceedings or other reentry by
Landlord) and the amount of the unpaid past Rent, future Rent loss, and all other losses, costs and damages, that Landlord would be
entitled to recover if Landlord were to pursue recovery under Section 11.2(b) or (c) of this Lease or California
Civil Code Section 1951.2 or 1951.4 (and any supplements, amendments, replacements and substitutions thereof and therefor from
time to time). If Landlord so uses, applies or retains all or part of the Security Deposit, Tenant shall within five
(5) business days after demand pay or deliver to Landlord in immediately available funds the sum necessary to replace the
amount used, applied or retained. If Tenant has fully and faithfully performed and observed all of Tenant’s obligations under
the terms, provisions, covenants and conditions of this Lease, the Security Deposit (except any amount retained for application by
Landlord as provided herein) shall be returned to Tenant with thirty (30) days after the latest of: (i) the Expiration Date;
(ii) the removal of Tenant from the Premises; or (iii) the surrender of the Premises by Tenant to Landlord in accordance
with this Lease, or such longer time as may be permissible under Law; provided, however, in no event shall any such return be
construed as an admission by Landlord that Tenant has performed all of its obligations hereunder.

  

    19

     

    

 

(b)            The
Security Deposit shall not be deemed an advance rent deposit or an advance payment of any kind, or a measure of Landlord’s damages
with respect to Tenant’s failure to perform, nor shall any action or inaction of Landlord with respect to it or its use or application
be a waiver of, or bar or defense to, enforcement of any right or remedy of Landlord. Landlord shall not be required to keep the Security
Deposit separate from its general funds and shall not have any fiduciary duties or other duties (except as set forth in this Section)
concerning the Security Deposit. Tenant shall not be entitled to any interest on the Security Deposit. In the event of any sale, lease
or transfer of Landlord’s interest in the Building, Landlord shall have the right to transfer the Security Deposit, or balance thereof,
to the transferee and any such transfer shall release Landlord from all liability for the return of the Security Deposit. Tenant thereafter
shall look solely to such transferee for the return or payment of the Security Deposit. Tenant shall not assign or encumber or attempt
to assign or encumber the Security Deposit or any interest in it and Landlord shall not be bound by any such assignment, encumbrance,
attempted assignment or attempted encumbrance, and regardless of one or more assignments of this Lease, Landlord may return the Security
Deposit to the original Tenant without liability to any assignee. Tenant hereby waives any and all rights of Tenant under the provisions
of Section 1950.7 of the California Civil Code, and any and all rights of Tenant under all provisions of Law, now or hereafter enacted,
regarding security deposits.

 

Article 6

SERVICES

 

6.1            LANDLORD’S
GENERAL SERVICES

 

(a)            Landlord
shall furnish the following services the cost of which services shall be included in Operating Expenses or paid directly by Tenant to
the utility or service provider:

 

(1)            heat,
ventilation and air-conditioning (“HVAC”) in the Premises during Standard Operating Hours as necessary in Landlord’s
reasonable judgment for the comfortable occupancy of the Premises under normal business office and laboratory operations, and outside
of Standard Operating Hours, HVAC shall be set to minimum safe setback levels for laboratory operations, operating 24 hours a day, 7 days
a week, subject to compliance with all applicable voluntary and mandatory regulations and Laws;

 

(2)            tempered
and cold water for normal and customary use in the Premises and in lavatories in common with other tenants from the regular supply of
the Building;

 

(3)            customary
cleaning and janitorial services in the Common Areas five (5) days per week, excluding National Holidays;

 

(4)            washing
of the outside windows in the Premises weather permitting at intervals determined by Landlord; and

 

(5)            automatic
passenger elevator service in common with other tenants of the Building. Freight elevator service, if any, will be subject to reasonable
scheduling by Landlord.

 

(b)            Landlord
shall provide a security program for the Building (but not individually for Tenant or the Premises), the cost of which program shall be
an Operating Expense. Landlord shall not be liable in any manner to Tenant or any other Tenant Parties for any acts (including criminal
acts) of others, or for any direct, indirect, or consequential damages, or any injury or damage to, or interference with, Tenant’s
business, including, but not limited to, loss of profits, loss of rents or other revenues, loss of business opportunity, loss of goodwill
or loss of use, or other loss or damage, bodily injury or death, related to any malfunction, circumvention or other failure of any security
program, or for the failure of any security program to prevent bodily injury, death, or property damage, or loss, or to apprehend any
person suspected of causing such injury, death, damage or loss.

 

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(c)            So
long as this Lease is in full force and effect and Tenant has paid all Rent then due, Landlord shall furnish to the Premises replacement
lamps, bulbs, ballasts and starters used in any normal Building lighting installed in the Premises, except that if the replacement or
repair of such items is a result of negligence of Tenant, its employees, agents, servants, licensees, subtenants, contractors or invitees,
such cost shall be paid by Tenant within ten (10) days after notice from Landlord and shall not be included as part of Operating
Expenses.

 

(d)            If
Tenant uses heat generating machines or equipment in the Premises to an extent which adversely affects the temperature otherwise maintained
by the air-cooling system or whenever the occupancy or electrical load adversely affects the temperature otherwise maintained by the air-cooling
system, Landlord reserves the right to install or to require Tenant to install supplementary air-conditioning units in the Premises. Tenant
shall bear all costs and expenses related to the installation, maintenance and operation of such units.

 

(e)            Tenant
shall pay Landlord at rates fixed by Landlord for all tenants in the Building, charges for all water furnished to the Premises beyond
that described in Section 6.1(a)(2), including the expenses of installation of a water line, meter and fixtures.

 

(f)            On
and after the Phase I Commencement Date, Landlord agrees that in the event of an interruption of power to the Building, Tenant may connect
Tenant loads (including back-up of all of Tenant’s cold storage and incubators) to the emergency generator serving the Building
(the “Emergency Generator”) on the following conditions: (i) Tenant loads to the Emergency Generator shall in no event
exceed Tenant’s Share of the kVA capacity of the Emergency Generator Landlord elects to make available for shared use by tenants
of the Building; (ii) any use of the Emergency Generator, including the duration of use, shall be subject to the requirements and
limitations (if any) imposed by applicable Law; and (iii) in the event of an emergency causing an interruption of power to any portion
of the Building, Landlord may, in its reasonable discretion, immediately shed or shut down Tenant loads (an “Emergency Shut Down”)
to the extent necessary to redirect the power from the Emergency Generator (“Emergency Generator Power”) to the Building’s
emergency/life-safety systems (e.g., elevators, fire-life safety and emergency lighting). To the extent Landlord’s load shedding
equipment accommodates shedding Tenant loads in stages, then Landlord shall use commercially reasonable good-faith efforts to shed Tenant
loads in a priority which Tenant has delivered to Landlord in writing. Notwithstanding anything to the contrary herein, Tenant acknowledges
that the Emergency Generator and any transfer switch may be exercised on a periodic basis, such exercise to be conducted by Landlord or
the Building Management Staff at Landlord’s reasonable discretion. Tenant further acknowledges that annual maintenance procedures
require that the Emergency Generator be taken off-line and that an annual full load test be performed on an annual basis, which test shall
be conducted by Landlord or the Building Management Staff at Landlord’s reasonable discretion; provided, however, Landlord shall
give Tenant not less than five (5) business days’ prior written notice thereof. Landlord shall not be liable to Tenant, and
Tenant shall not be entitled to any abatement of rent or other recourse in the event that Emergency Generator Power is not available for
any reason. Landlord’s actual out-of-pocket cost of maintenance, repair and testing of the Emergency Generator shall be included
in Operating Expenses.

 

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6.2            UTILITIES
AND JANITORIAL SERVICES

 

All utility services
used in the production of heating and cooling and air supply and exhaust from the central HVAC systems serving the Building and
Premises, including, without limitation, electricity and gas, as well as water and sewer services, shall constitute Operating
Expenses. All utility services used by Tenant within the Premises, including, without limitation, electricity and gas, shall be paid
for by Tenant either through a separate charge or as part of Operating Expenses. Such charges shall be based upon Tenant’s
usage, which usage: (a) as to electricity, other than overhead lighting, shall be measured by a separate meter or sub-meter to
be installed as part of the Tenant Work, and paid by Tenant within 15 days after billing as additional Rent under this Lease; and
(b) as to all other utilities, shall either be reasonably estimated by Landlord and paid by Tenant within 15 days after billing
as additional Rent under this Lease or included in Operating Expenses. In addition, Tenant shall provide its own janitorial services
to the Premises, using a janitorial service reasonably acceptable to Landlord or shall make arrangements with Landlord for Landlord,
through Landlord’s vendors, to perform such Premises cleaning services, and shall pay the costs thereof directly to Landlord.
Notwithstanding any provision of this Lease to the contrary, Tenant shall not make any alterations or additions to the electric
equipment or systems, in each instance, without the prior written approval of Landlord, which approval shall not be unreasonably
withheld, conditioned or delayed so long as such alterations or additions (i) do not exceed the capacity of the wiring, feeders
and risers and (ii) are in compliance with the City’s building code. Tenant’s use of electric current shall at no
time exceed the capacity of the wiring, feeders and risers providing electric current to the Premises or the Building. The consent
of Landlord to the installation of electric equipment shall not relieve Tenant from the obligation to limit usage of electricity to
no more than such capacity.

 

6.3            ADDITIONAL
AND AFTER HOUR SERVICES

 

At Tenant’s written
request, Landlord shall furnish additional quantities of any of the services or utilities specified in Section 6.1, if Landlord can
reasonably do so, on the terms set forth herein. For services or utilities requested by Tenant and furnished by Landlord, Tenant shall
pay to Landlord as a charge therefor Landlord’s prevailing rates charged from time to time for such services and utilities, as additional
Rent under this Lease. Without limiting the generality of the foregoing, for HVAC service outside of Standard Operating Hours, Landlord’s
prevailing rate as of the date of this Lease includes a one (1) hour minimum per activation. If Tenant shall fail to make any such
payment, Landlord may, upon notice to Tenant and in addition to Landlord’s other remedies under this Lease, discontinue any or all
of such additional services.

 

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6.4            TELEPHONE
SERVICES

 

All telephone and communication
connections which Tenant may desire shall be subject to Landlord’s prior written approval, in Landlord’s reasonable discretion,
and the location of all Cables and the work in connection therewith shall be performed by contractors approved by Landlord and shall be
subject to the direction of Landlord and in compliance with Landlord’s then current Building standards for Cable installation. Landlord
reserves the right to designate and control the entity or entities providing Cable installation, removal, repair and maintenance in the
Building and to restrict and control access to telephone cabinets or panels. In the event Landlord designates a particular vendor or vendors
to provide such Cable installation, removal, repair and maintenance for the Building, Tenant agrees to abide by and participate in such
program. Tenant shall be responsible for and shall pay, as additional Rent under this Lease, all costs incurred in connection with the
installation of Cables in the Premises, including any hook-up, access and maintenance fees related to the installation of such Cables
in the Premises and the commencement of service therein, and the maintenance thereafter of such Cables; and there shall be included in
Operating Expenses for the Building all installation, removal, hook-up or maintenance costs incurred by Landlord in connection with Cables
serving the Building which are not allocable to any individual users of such service but are allocable to the Building generally. If Tenant
fails to maintain all Cables in the Premises and such failure affects or interferes with the operation or maintenance of any other Cables
serving the Building, Landlord or any vendor hired by Landlord may enter into and upon the Premises forthwith and perform such repairs,
restorations or alterations as Landlord deems necessary in order to eliminate any such interference (and Landlord may recover from Tenant
all of Landlord’s costs in connection therewith). If required by Landlord, no later than the Termination Date Tenant shall remove
all Cables installed by Tenant for and during Tenant’s occupancy and surrender the installation in a condition previously approved
by Landlord. Tenant agrees that neither Landlord nor any of its agents or employees shall be liable to Tenant, or any of Tenant’s
employees, agents, customers or invitees or anyone claiming through, by or under Tenant, for any damages, injuries, losses, expenses,
claims or causes of action because of any interruption, diminution, delay or discontinuance at any time for any reason in the furnishing
of any telephone or other communication service to the Premises and the Building.

  

6.5            DELAYS
IN FURNISHING SERVICES

 

Tenant agrees that
Landlord shall not be in breach of this Lease nor be liable to Tenant for damages or otherwise, for any failure to furnish, or a
delay in furnishing, or a change in the quantity or character of any service when such failure, delay or change is occasioned, in
whole or in part, by repairs, improvements or mechanical breakdowns, by the act or default of Tenant or other parties or by an event
of Force Majeure. No such failure, delay or change shall be deemed to be an eviction or disturbance of Tenant’s use and
possession of the Premises, or relieve Tenant from paying Rent or from performing any other obligations of Tenant under this Lease,
without any deduction or offset. Failure to any extent to make available, or any slowdown, stoppage, or interruption of, the
specified utility services resulting from any cause, including changes in service provider or Landlord’s compliance with any
voluntary or similar governmental or business guidelines now or hereafter published or any requirements now or hereafter established
by any governmental agency, board, or bureau having jurisdiction over the operation of the Property, shall not render Landlord
liable in any respect for damages to either persons, property, or business, nor be construed as an eviction of Tenant or work an
abatement of Rent, nor relieve Tenant of Tenant’s obligations for fulfillment of any covenant or agreement hereof. Should any
equipment or machinery furnished by Landlord break down or for any cause cease to function properly, Landlord shall use reasonable
diligence to repair same promptly, but Tenant shall have no claim for abatement of Rent or damages on account of any interruption of
service occasioned thereby or resulting therefrom. Tenant hereby waives any benefits of any applicable existing or future Law,
including the provisions of California Civil Code section 1932(1), permitting the termination of this Lease due to such
interruption, failure or inability.

 

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6.6            CHOICE
OF SERVICE PROVIDER

 

Tenant acknowledges that Landlord
may, at Landlord’s sole option, to the extent permitted by applicable law, elect to change, from time to time, the company or companies
which provide services (including electrical service, gas service, water, telephone and technical services) to the Building, the Premises
and/or its occupants. Notwithstanding anything to the contrary set forth in this Lease, Tenant acknowledges that Landlord has not and
does not make any representations or warranties concerning the identity or identities of the company or companies which provide services
to the Building and the Premises or its occupants, and Tenant acknowledges that the choice of service providers and matters concerning
the engagement and termination thereof shall be solely that of Landlord. The foregoing provision is not intended to modify, amend, change
or otherwise derogate any provision of this Lease concerning the nature or type of service to be provided or any specific information
concerning the amount thereof to be provided. Tenant agrees to cooperate with Landlord and each of its service providers in connection
with any change in service or provider.

  

6.7            SIGNAGE

 

(a)            Standard
Signage. Initial Building standard signage for Tenant will be installed by Landlord in the directory in the main lobby of the Building.
As of the Phase I Rent Commencement Date, Landlord also shall install signage for Tenant in the listing of tenants in the elevator lobby
for the floor on which the Premises is located and at Tenant’s main entry door to the Premises, all at Tenant’s sole cost
and expense. As of the Phase II Rent Commencement Date, Tenant shall have exclusive signage rights in the elevator lobby for the floor
on which the Premises is located, at Tenant’s sole cost and expense. Any change in such initial signage shall be only with Landlord’s
prior written consent, shall conform to Building standard signage and shall be at Tenant’s sole cost and expense.

 

(b)            Exterior
Sign. In addition to the signage identified in Section 6.7(a) above, Tenant shall be entitled to one sign panel on any available
monument signage for the Building, to the extent Landlord offers such sign panel rights to any other full-floor tenants in the Building
(as applicable, “Tenant’s Exterior Sign”). Landlord shall have the right to reasonably approve the plans and specifications
for the design and installation of Tenant’s Exterior Sign, the identity of any contractor or subcontractor to be employed on the
work of installing Tenant’s Sign, and the time for performance of such work. Any and all maintenance and repair relating to Tenant’s
Exterior Sign shall be the sole responsibility of Tenant. Tenant shall promptly perform such maintenance and repair obligations in a good
and workmanlike manner, such that Tenant’s Sign appears and operates at all times in the manner intended at the time it was designed
and installed. All costs pertaining to the design, installation, operation, maintenance, repair and removal of Tenant’s Exterior
Sign or any part thereof shall be paid by Tenant when due. The provisions of this Lease pertaining to mechanic’s liens shall apply
to Tenant’s Exterior Sign. Notwithstanding anything to the contrary contained herein, Tenant’s rights under this Section 6.7(b) are
personal to Named Tenant and shall not be assigned or assignable, in whole or in part, to any third party. Any assignment or other transfer
of such rights by Named Tenant shall be void and of no force or effect. Without limiting the generality of the foregoing, no sublessee
of the Premises shall be permitted to exercise the rights granted to Named Tenant under this Section 6.7(b).

 

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Article 7

USE OF PREMISES; LANDLORD’S ACCESS RIGHTS

  

7.1            USE
OF PREMISES

 

(a)            Tenant
shall occupy and use the Premises only for the uses specified in Section 1.1 to conduct Tenant’s business. Tenant shall not
occupy or use the Premises (or permit the use or occupancy of the Premises) for any purpose or in any manner which: (1) is unlawful
or in violation of any Law or Hazardous Materials Law; (2) may be dangerous to persons or property or which may increase the cost
of, or invalidate, any policy of insurance carried on the Building or covering its operations; (3) is contrary to or prohibited by
the terms and conditions of this Lease or the rules of the Building set forth in Article 18; (4) would tend to create or
continue a nuisance; or (5) in any manner that will cause the Building or any part thereof not to conform with the Project’s
Sustainability Practices or the certification of the Building’s core and shell issued pursuant to the applicable Green Building
Standards.

 

(b)            Landlord
shall provide Tenant access to the Premises 24 hours per day, 7 days per week and 365/366 days per year through access card keys,
the cost of which shall be paid by Tenant within thirty (30) days of Landlord’s demand therefor, and Tenant shall place
a deposit for such cards with Landlord to cover lost cards or cards which are not returned at the end of the Term.

 

(c)            Landlord
and Tenant acknowledge that the Americans With Disabilities Act of 1990 (42 U.S.C. §12101 et seq.) and regulations and guidelines
promulgated thereunder, as all of the same may be amended and supplemented from time to time (collectively referred to herein as the “ADA”)
establish requirements for business operations, accessibility and barrier removal, and that such requirements may or may not apply to
the Premises, the Building and the Project depending on, among other things: (1) whether Tenant’s business is deemed a “public
accommodation” or “commercial facility”, (2) whether such requirements are “readily achievable”, and
(3) whether a given alteration affects a “primary function area” or triggers “path of travel” requirements.
The parties hereby agree that: (a) Landlord shall be responsible for ADA Title III compliance in the Common Areas (including the
restrooms), except as provided below, (b) Tenant shall be responsible for ADA Title III compliance in the Premises, including any
Leasehold Improvements or other work to be performed in the Premises under or in connection with this Lease, (c) Landlord may perform,
or require that Tenant perform, and Tenant shall be responsible for the cost of, ADA Title III “path of travel” requirements
triggered by Tenant Additions in the Premises (but Tenant shall not be responsible for the cost of “path of travel” requirements
in the Common Areas), and (d) Landlord may perform, or require Tenant to perform, and Tenant shall be responsible for the cost of,
ADA Title III compliance in the Common Areas necessitated by the Building being deemed to be a “public accommodation” instead
of a “commercial facility” as a result of Tenant’s use of the Premises. Tenant shall be solely responsible for requirements
under Title I of the ADA relating to Tenant’s employees.

 

(d)            Landlord
and Tenant agree to cooperate and use commercially reasonable efforts to participate in traffic management programs generally applicable
to businesses located in or about the area and Tenant shall encourage and support van, shuttle service, and carpooling by, and staggered
and flexible working hours for, its office workers and service employees to the extent reasonably permitted by the requirements of Tenant’s
business. Neither this Section or any other provision of this Lease is intended to or shall create any rights or benefits in any
other person, firm, company, governmental entity or the public.

 

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(e)            Tenant
agrees to cooperate with Landlord and to comply with any and all guidelines or controls concerning energy management and usage disclosure
imposed upon Landlord by federal or state governmental organizations or by any energy conservation association to which Landlord is a
party or which is applicable to the Building, including, without limitation, the requirements of California’s Nonresidential Building
Energy Use Disclosure Program, as more particularly specified in California Public Resources Code Sections 25402.10 et seq. and regulations
adopted pursuant thereto. Further, Tenant hereby authorizes (and agrees that Landlord shall have the authority to authorize) any electric
or gas utility company providing service to the Building to disclose from time to time so much of the data collected and maintained by
it regarding Tenant’s energy consumption data as may be necessary to cause the Building to participate in the ENERGY STAR® Portfolio
Manager system and similar programs; and Tenant further authorizes Landlord to disclose information concerning energy use by Tenant, either
individually or in combination with the energy use of other tenants, as applicable as Landlord determines to be necessary to comply with
applicable Laws pertaining to the Building or Landlord’s ownership thereof.

 

(f)            Hazardous
Materials.

 

(1)            Definitions.
The following terms shall have the following meanings for purposes of this Lease:

 

(i)            “Biohazardous
Materials” means any and all substances and materials defined or referred to as “medical waste,” “biological waste,”
 “biohazardous waste,” “biohazardous material” or any other term of similar import under any Hazardous Materials
Laws, including (but not limited to) California Health & Safety Code Sections 25105 et seq., and any regulations promulgated
thereunder, as amended from time to time.

 

(ii)            “Chemical
Control Area Plan” means that certain plan for the use and storage of Hazardous Materials in the Building created by Landlord and
approved by the City.

 

(iii)            “Environmental
Condition” means the Release of any Hazardous Materials in, over, on, under, through, from or about the Project (including, but
not limited to, the Premises).

 

(iv)            “Environmental
Damages” means all claims, suits, judgments, damages, losses, penalties, fines, liabilities, encumbrances, liens, costs and
expenses of whatever kind or nature, contingent or otherwise, matured or unmatured, foreseeable or unforeseeable, arising out of or
in connection with any Environmental Condition, including, to the extent arising out of an Environmental Condition, without
limitation: (A) damages for personal injury, or for injury or damage to the Project or natural resources occurring on or off
the Project, including without limitation (1) any claims brought by or on behalf of any person, (2) any loss of, lost use
of, damage to or diminution in value of any Project or natural resource, and (3) costs of any investigation, remediation,
removal, abatement, containment, closure, restoration or monitoring work required by any federal, state or local governmental agency
or political subdivision, or otherwise reasonably necessary to protect the public health or safety, whether on or off the Project;
(B) reasonable fees incurred for the services of attorneys, consultants, contractors, experts and laboratories in connection
with the preparation of any feasibility studies, investigations or reports or the performance of any work described above;
(C) any liability to any third person or governmental agency to indemnify such person or agency for costs expended or
liabilities incurred in connection with any items described in clause (A) or (B) above; (D) any fair market or fair
market rental value of the Project; and (E) the amount of any penalties, damages or costs a party is required to pay or incur
in excess of that which the party otherwise would reasonably have expected to pay or incur absent the existence of the applicable
Environmental Condition.

 

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(v)            “Handling”
or “Handles”, when used with reference to any substance or material, includes (but is not limited to) any receipt,
storage, use, generation, Release, transportation, treatment or disposal of such substance or material.

 

(vi)            “Hazardous
Materials” means any and all chemical, explosive, biohazardous, radioactive or otherwise toxic or hazardous materials or hazardous
wastes, including without limitation any asbestos-containing materials, PCB’s, CFCs, petroleum and derivatives thereof, Radioactive
Materials, Biohazardous Materials, Hazardous Wastes, any other substances defined or listed as or meeting the characteristics of a hazardous
substance, hazardous material, Hazardous Waste, toxic substance, toxic waste, biohazardous material, biohazardous waste, biological waste,
medical waste, radiation, radioactive substance, radioactive waste, or other similar term, as applicable, under any law, statute, ordinance,
code, rule, regulation, directive, order, condition or other written requirement enacted, promulgated or issued by any public officer
or governmental or quasi-governmental authority, whether now in force or hereafter in force at any time or from time to time to protect
the environment or human health, and/or any mixed materials, substances or wastes containing more than one of the foregoing categories
of materials, substances or wastes.

 

(vii)            “Hazardous
Materials Laws” means, collectively, (A) the Comprehensive Environmental Response, Compensation and Liability Act of 1980,
42 U.S.C. Sections 9601-9657, (B) the Hazardous Materials Transportation Act of 1975, 49 U.S.C. Sections 1801-1812, (C) the
Resource Conservation and Recovery Act of 1976, 42 U.S.C. Sections 6901-6987 (together with any amendments thereto, any regulations
thereunder and any amendments to any such regulations as in effect from time to time, “RCRA”), (D) the California Carpenter-Presley-Tanner
Hazardous Substance Account Act, California Health & Safety Code Sections 25300 et seq., (E) the Hazardous Materials
Release Response Plans and Inventory Act, California Health & Safety Code Sections 25500 et seq., (F) the California
Hazardous Waste Control Law, California Health & Safety Code Sections 25100 et seq. (together with any amendments thereto,
any regulations thereunder and any amendments to any such regulations as in effect from time to time, the “CHWCL”), (G) California
Health & Safety Code Sections 25015-25027.8, (H) any amendments to or successor statutes to any of the foregoing, as
adopted or enacted from time to time, (I) any regulations or amendments thereto promulgated pursuant to any of the foregoing from
time to time, (J) any Laws relating to Biohazardous Materials, including (but not limited to) any regulations or requirements with
respect to the shipping, use, decontamination and disposal thereof, and (K) any other Law now or at any time hereafter in effect
regulating, relating to or imposing liability or standards of conduct concerning any Hazardous Materials, including (but not limited to)
any requirements or conditions imposed pursuant to the terms of any orders, permits, licenses, registrations or operating plans issued
or approved by any governmental or quasi-governmental authority from time to time either on a Project-wide basis or in connection with
any Handling of Hazardous Materials in, on or about the Premises or the Project.

 

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(viii)            “Hazardous
Wastes” means (A) any waste listed as or meeting the identified characteristics of a “hazardous waste” or terms
of similar import under RCRA, (B) any waste meeting the identified characteristics of a “hazardous waste”, “extremely
hazardous waste” or “restricted hazardous waste” under the CHWCL, and/or (C) any and all other substances and materials
defined or referred to as a “hazardous waste” or other term of similar import under any Hazardous Materials Laws.

 

(ix)            “Landlord’s
Contamination” means any Hazardous Materials which exist in, on, under or in the vicinity of the Project as of the date of this
Lease or which migrate onto or beneath the Project after termination of this Lease. Tenant shall not be required to pay any costs with
respect to the remediation or abatement of Landlord’s Contamination.

 

(x)            “Radioactive
Materials” means (A) any and all substances and materials the Handling of which requires an approval, consent, permit or
license from the Nuclear Regulatory Commission, (B) any and all substances and materials the Handling of which requires
a Radioactive Material License or other similar approval, consent, permit or license from the State of California, and (C) any
and all other substances and materials defined or referred to as “radiation,” a “radioactive material” or
 “radioactive waste,” or any other term of similar import under any Hazardous Materials Laws, including (but not limited
to) Title 26, California Code of Regulations Section 17-30100, and any statutes, regulations or other laws administered,
enforced or promulgated by the Nuclear Regulatory Commission.

 

(xi)            “Release”
means any accidental or intentional spilling, leaking, pumping, pouring, emitting, discharging, injecting, escaping, leaching, migrating,
dumping or disposing into the air, land, surface water, groundwater or the environment (including without limitation the abandonment or
discarding of receptacles containing any Hazardous Materials).

 

(xii)            “Tenant’s
Contamination” means any Hazardous Material Release on or about the Property by Tenant and/or any agents, employees, contractors,
vendors, suppliers, licensees, subtenants, and invitees of Tenant (individually, a “Tenant Party” and collectively, “Tenant
Parties”).

 

(2)            Handling
of Hazardous Materials. The parties acknowledge that Tenant wishes and intends to use all or a portion of the Premises as a bio-pharmaceutical
research and development facility in conformance with the conduct by Tenant of its business in accordance with the use specified in Section 1.1,
that such use, as conducted or proposed to be conducted by Tenant, would customarily include the Handling of Hazardous Materials, and
that Tenant shall therefore be permitted to engage in the Handling in the Premises of necessary and reasonable quantities of Hazardous
Materials customarily used in or incidental to the operation of a bio-pharmaceutical research, development preparation and/or dispensing
facility in conformance with business operations of Tenant in the manner conducted or proposed to be conducted by Tenant hereunder (“Permitted
Hazardous Materials”), provided that the Handling of such Permitted Hazardous Materials by all Tenant Parties shall at all times
comply with and be subject to all provisions of this Lease and all Laws, including all Hazardous Materials Laws, and with Landlord’s
Chemical Control Area Plan for the Building. Without limiting the generality of the foregoing, Tenant shall comply at all times with all
Hazardous Materials Laws applicable to any aspect of Tenant’s use of the Premises and the Project and of Tenant’s operations
and activities in, on and about the Premises and the Project, and shall ensure at all times that Tenant’s Handling of Hazardous
Materials in, on and about the Premises does not violate (x) the terms of any governmental licenses or permits applicable to the
Building (including, but not limited to, the Building Discharge Permit as defined below) or Premises or to Tenant’s Handling of
any Hazardous Materials therein, or (y) any applicable requirements or restrictions relating to the occupancy classification of the
Building and the Premises.

 

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(3)            Disposition
or Emission of Hazardous Materials. Tenant shall not Release or dispose of any Hazardous Materials, except to the extent authorized
by permit, at the Premises or on the Project, but instead shall arrange for off-site disposal, under Tenant’s own name and EPA waste
generator number (or other similar identifying information issued or prescribed by any other governmental authority with respect to Radioactive
Materials, Biohazardous Materials or any other Hazardous Materials) and at Tenant’s sole expense, in compliance with all applicable
Hazardous Materials Laws, with the Laboratory Rules and Regulations (defined below) and with all other applicable Laws and regulatory
requirements.

 

(4)            Information
Regarding Hazardous Materials. Tenant shall maintain and make available to Landlord the following information and/or documentation
upon demand:

 

(i)            An
inventory of all Hazardous Materials that Tenant receives, uses, handles, generates, transports, stores, treats or disposes of from time
to time, or at the time of preparation of such inventory proposes or expects to use, handle, generate, transport, store, treat or dispose
of from time to time, in connection with its operations at the Premises. Such inventory shall include, but shall separately identify,
any Hazardous Wastes, Biohazardous Materials and Radioactive Materials covered by the foregoing description. If such inventory includes
any Biohazardous Materials, Tenant shall also disclose in writing to Landlord the Biosafety Level designation associated with the use
of such materials.

 

(ii)            Copies
of all then existing permits, licenses, registrations and other similar documents issued by any governmental or quasi-governmental authority
that authorize any Handling of Hazardous Materials in, on or about the Premises or the Project by any Tenant Party.

 

(iii)            All
Material Safety Data Sheets (“MSDSs”), if any, required to be completed with respect to operations of Tenant at the Premises
from time to time in accordance with Title 26, California Code of Regulations Section 8-5194 or 42 U.S.C. Section 11021, or
any amendments thereto, and any Hazardous Materials Inventory Sheets that detail the MSDSs.

 

(iv)            All
hazardous waste manifests (as defined in Title 26, California Code of Regulations Section 22-66481), if any, that Tenant is required
to complete from time to time in connection with its operations at the Premises.

 

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(v)            A
copy of any “Hazardous Materials Business Plan” required from time to time with respect to Tenant’s operations at the
Premises pursuant to California Health & Safety Code Sections 25500 et seq., and any regulations promulgated thereunder,
as amended from time to time, or in connection with Tenant’s application for a business license from the City. If applicable law
does not require Tenant to prepare a Hazardous Materials Business Plan, Tenant shall furnish to Landlord at the times and in the manner
set forth above the information that would customarily be contained in a Hazardous Materials Business Plan, including (but not limited
to) information regarding Tenant’s Hazardous Materials inventories. The parties acknowledge that a Hazardous Materials Business
Plan would ordinarily include an emergency response plan, and that regardless of whether applicable Law requires Tenant or other tenants
in the Building to prepare Hazardous Materials Business Plans, Landlord in its discretion may elect to prepare a coordinated emergency
response plan for the entire Building and/or for multiple Buildings on the Project (if and to the extent applicable).

  

(vi)            Any
 “Contingency Plans and Emergency Procedures” required of Tenant from time to time, in connection with its operations at the
Premises, pursuant to applicable Law, Title 26, California Code of Regulations Sections 22-67140 et seq., and any amendments thereto,
and any “Training Programs and Records” required under Title 26, California Code of Regulations Section 22-66493, and
any amendments thereto from time to time. Landlord in its discretion may elect to prepare a Contingency Plan and Emergency Procedures
for the entire Building and/or for multiple buildings on the Project, in which event, if applicable law does not require Tenant to prepare
a Contingency Plan and Emergency Procedures for its operations at the Premises, Tenant shall furnish to Landlord at the times and in the
manner set forth above the information that would customarily be contained in a Contingency Plan and Emergency Procedures.

 

(vii)            Copies
of any biennial or other periodic reports furnished or required to be furnished to the California Department of Health Services from time
to time, under applicable law, pursuant to Title 26, California Code of Regulations Section 22-66493 and any amendments thereto,
relating to any Hazardous Materials.

 

(viii)            Copies
of any industrial wastewater discharge permits issued to or held by Tenant from time to time in connection with its operations at the
Premises (the parties presently anticipate, however, that because of the existence of the Building Discharge Permit in Landlord’s
name as described above. Tenant will not be required to maintain a separate, individual discharge permit).

 

(ix)            Copies
of any other lists, reports, studies, or inventories of Hazardous Materials or of any subcategories of materials included in Hazardous
Materials that Tenant is otherwise required to prepare and file from time to time with any governmental or quasi-governmental authority
in connection with Tenant’s operations at the Premises, including (but not limited to) reports filed by Tenant with the federal
Food & Drug Administration or any other regulatory authorities primarily in connection with the presence (or lack thereof) of
any “select agents” or other Biohazardous Materials on the Premises, together with proof of filing thereof.

 

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(x)            Any
other information reasonably requested by Landlord in writing from time to time in connection with (A) Landlord’s monitoring
(in Landlord’s reasonable discretion) and enforcement of Tenant’s obligations under this Section and of compliance with
applicable Laws in connection with any Handling or Release of Hazardous Materials in the Premises or Building or on or about the Project
by any Tenant Party, (B) any inspections or enforcement actions by any governmental authority pursuant to any Hazardous Materials
Laws or any other Laws relating to the presence or Handling of Hazardous Materials in the Premises or Building or on or about the Project
by any Tenant Party, and/or (C) Landlord’s preparation (in Landlord’s discretion) and enforcement of any reasonable rules and
procedures relating to the presence or Handling by Tenant or any Tenant Party of Hazardous Materials in the Premises or Building or on
or about the Project, including (but not limited to) any contingency plans or emergency response plans as described above. Except as otherwise
required by Law, Landlord shall keep confidential any information supplied to Landlord by Tenant pursuant to the foregoing, provided,
however, that the foregoing shall not apply to any information filed with any governmental authority or available to the public at large.
Landlord may provide such information to its lenders, consultants or investors provided such entities agree to keep such information confidential.

 

(5)            Indemnification;
Notice of Release. Tenant shall be responsible for and shall indemnify, defend and hold Landlord harmless from and against all
Environmental Damages to the extent arising out of or otherwise relating to, (i) any Handling of Hazardous Materials by any
Tenant Party in, on or about the Premises or the Project in violation of this Section, (ii) any breach of Tenant’s
obligations under this Section or of any Hazardous Materials Laws by any Tenant Party, or (iii) the existence of
any Tenant’s Contamination in, on or about the Premises or the Project to the extent caused by any Tenant Party, including
without limitation any removal, cleanup or restoration work and materials necessary to return the Project or any improvements of
whatever nature located on the Project to the condition existing prior to the Handling of Hazardous Materials in, on or about the
Premises or the Project by any Tenant Party. In the event of any Tenant’s Contamination in, on or about the Premises or any
other portion of the Project or any adjacent lands, Tenant shall promptly remedy the problem in accordance with all applicable
Hazardous Materials Laws, shall give Landlord oral notice of any such non-standard or non-customary Release promptly after Tenant
becomes aware of such Release, followed by written notice to Landlord within five (5) days after Tenant becomes aware of such
Release, and shall furnish Landlord with concurrent copies of any and all notices, reports and other written materials filed by any
Tenant Party with any governmental authority in connection with such Release. Tenant shall have no obligation to remedy any
Hazardous Materials contamination which was not caused or released by a Tenant Party.

 

(6)            Governmental
Notices. Tenant shall promptly provide Landlord with copies of all notices received by Tenant relating to any actual or alleged presence
or Handling by any Tenant Party of Hazardous Materials in, on or about the Premises or any other portion of the Project, including, without
limitation, any notice of violation, notice of responsibility or demand for action from any federal, state or local governmental authority
or official in connection with any actual or alleged presence or Handling by any Tenant Party of Hazardous Materials in or about the Premises
or any other portion of the Project.

 

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(7)            Inspection
by Landlord. In addition to, and not in limitation of, Landlord’s rights under this Lease, upon reasonable prior request by
Landlord, Tenant shall grant Landlord and its consultants, as well as any governmental authorities having jurisdiction over the Premises
or over any aspect of Tenant’s use thereof, reasonable access to the Premises at reasonable times to inspect Tenant’s Handling
of Hazardous Materials in, on and about the Premises, and Landlord shall not thereby incur any liability to Tenant or be deemed guilty
of any disturbance of Tenant’s use or possession of the Premises by reason of such entry; provided, however, that Landlord shall
use reasonable efforts to minimize interference with Tenant’s use of the Premises caused by such entry. Landlord shall comply with
any security precaution reasonably imposed by Tenant during any entry onto the Premises and shall minimize to the extent reasonably possible
any interference with Tenant’s use of the Premises caused by such entry. Notwithstanding Landlord’s rights of inspection and
review of documents, materials and physical conditions under this Section with respect to Tenant’s Handling of Hazardous Materials,
Landlord shall have no duty or obligation to perform any such inspection or review or to monitor in any way any documents, materials,
physical conditions or compliance with Laws in connection with Tenant’s Handling of Hazardous Materials, and no third Party shall
be entitled to rely on Landlord to conduct any such inspection, review or monitoring by reason of the provisions of this Section.

 

(8)            Monitoring
by Landlord. Landlord reserves the right to monitor, in Landlord’s reasonable discretion and at Landlord’s cost, the reasonable
cost of which shall be recoverable as an Operating Expense (except in the case of a breach of any of Tenant’s obligations under
this Section, in which event such monitoring costs may be charged back entirely to Tenant and shall be reimbursed by Tenant to Landlord
within ten (10) days after written demand by Landlord from time to time, accompanied by supporting documentation reasonably evidencing
the costs for which such reimbursement is claimed), at such times and from time to time as Landlord in its reasonable discretion may determine,
through consultants engaged by Landlord or otherwise as Landlord in its reasonable discretion may determine: (x) all aqueous and
atmospheric discharges and emissions from the Premises during the Term by a Tenant Party, (y) Tenant’s compliance and the collective
compliance of all tenants in the Building with requirements and restrictions relating to the occupancy classification of the Building
(including, but not limited to, Hazardous Materials inventory levels of Tenant and all other tenants in the Building), and (z) Tenant’s
compliance with all other requirements of this Section.

 

(9)            Discovery
of Discharge. If Landlord, Tenant or any governmental or quasi-governmental authority discovers any Release from the Premises during
the Term by a Tenant Party in violation of this Section that, in Landlord’s reasonable determination, jeopardizes the ability
of the Building or the Project to meet applicable Laws or otherwise adversely affects the Building’s or the Project’s compliance
with applicable discharge or emission standards, or if Landlord discovers any other breach of Tenant’s obligations under this Section,
then upon receipt of written notice from Landlord or at such earlier time as Tenant obtains actual knowledge of the applicable discharge,
emission or breach, Tenant at its sole expense shall within a reasonable time (x) in the case of a Release in violation of this Lease,
cease the applicable discharge or emission and remediate any continuing effects of the discharge or emission until such time, if any,
as Tenant demonstrates to Landlord’s reasonable satisfaction that the applicable discharge or emission is in compliance with all
applicable Laws and any other applicable regulatory commitments and obligations to the satisfaction of the appropriate governmental agency
with jurisdiction over the Release, and (y) in the case of any other breach of Tenant’s obligations under this Section, take
such corrective measures as Landlord may reasonably request in writing in order to cure or eliminate the breach as promptly as practicable
and to remediate any continuing effects of the breach.

 

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(10)            Post-Occupancy
Study. No later than fifteen (15) days following the Termination Date, Tenant at its sole cost and expense, shall obtain and deliver
to Landlord an environmental study, performed by an expert reasonably satisfactory to Landlord, evaluating, the presence or absence of
any Tenant’s Contamination in, on and about the Premises and the Project. Such study shall be based on a reasonable and prudent
level of tests and investigations of the Premises and surrounding portions of the Project (if appropriate) which tests shall be conducted
no earlier than fifteen (15) days prior to the Termination Date. Liability for any remedial actions required or recommended on the basis
of such study shall be allocated in accordance with the applicable provisions of this Lease. To the extent any such remedial actions are
the responsibility of Tenant, Tenant at its sole expense shall promptly commence and diligently pursue to completion the required remedial
actions.

 

(11)            Emergency
Response Plans. If Landlord in its reasonable discretion adopts any emergency response plan and/or any Contingency Plan and Emergency
Procedures for the Building (or for multiple buildings on the Project if and to the extent applicable) as contemplated above, Landlord
shall provide copies of any such plans and procedures to Tenant and, so long as such plans and procedures are reasonable, Tenant shall
comply with all of the requirements of such plans and procedures to the extent applicable to Tenant and/or the Premises. If Landlord elects
to adopt or materially modify any such plans or procedures that apply to the Building during the Term, Landlord shall consult with Tenant
and Tenant shall cooperate, in the preparation of such plans, procedures or modifications in efforts to accurately reflect and maintain
consistency with Tenant’s operations in the Premises, but Landlord alone shall determine, in its good faith reasonable discretion,
the appropriate scope of such consultation and nothing in this Section shall be construed to give Tenant any right of approval or
disapproval over Landlord’s adoption or modification of any such plans or procedures.

 

(12)            Radioactive
Materials. Without limiting any other applicable provisions of this Section, if Tenant Handles or proposes to Handle any Radioactive
Materials in or about the Premises, Tenant shall provide Landlord with copies of Tenant’s licenses or permits for such Radioactive
Materials and with copies of all radiation protection programs and procedures required under applicable Laws or otherwise adopted by Tenant
from time to time in connection with Tenant’s Handling of such Radioactive Materials. In addition, Tenant shall comply with any
and all rules and procedures issued by Landlord in its good faith discretion from time to time with respect to the Handling of Radioactive
Materials on the Project (such as, by way of example but not limitation, rules implementing a label defacement program for decayed
waste destined for common trash and/or rules relating to transportation and storage of Radioactive Materials on the Project), provided
that such rules and procedures shall be reasonable and not in conflict with any applicable Laws.

 

(13)            Deemed
Holdover Occupancy. Notwithstanding any other provisions of this Lease, Tenant expressly agrees as follows:

 

(i)            If
Tenant Handles any Radioactive Materials in or about the Premises or the Project during the Term, then for so long as any license or permit
relating to such Radioactive Materials remains open or valid following the Termination Date, and another entity handling Radioactive Materials
which is a prospective tenant of Landlord is legally prohibited from occupying a portion of the Premises for a use similar to Tenant’s
use, then Tenant shall be deemed to be occupying that portion of the Premises on a holdover basis without Landlord’s consent (notwithstanding
such otherwise applicable termination or expiration of the Term) and shall be required to continue to pay Rent and other charges in accordance
with Article 13 solely for that portion of the Premises effected by the radioactive materials license, until such time as all such
Radioactive Materials licenses and permits have been fully closed out in accordance with the requirements of this Lease and with all applicable
Hazardous Materials Laws and other Laws.

 

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(ii)            If
Tenant Handles any Hazardous Materials in or about the Premises or the Project during the Term and, on or before the Termination Date,
has failed to remove from the Premises or the Project all known Hazardous Materials Handled by a Tenant Party or has failed to complete
any remediation or removal of Tenant’s Contamination and/or to have fully remediated in compliance with the requirements of this
Lease and with all applicable Hazardous Materials Laws and any other applicable Laws, the Tenant’s Handling and/or Release (if applicable)
of any such Hazardous Materials during the Term, then for so long as such circumstances continue to exist, Tenant shall be deemed to be
occupying the Premises on a holdover basis without Landlord’s consent (notwithstanding such otherwise applicable termination or
expiration of the Term) and shall be required to continue to pay Rent and other charges in accordance with Article 13 until such
time as all such circumstances have been fully resolved in accordance with the requirements of this Lease and with all applicable Hazardous
Materials Laws and other Laws.

 

(14)         Survival
of Obligations. Each party’s obligations under this Section shall survive the Termination Date and shall survive any
conveyance by Landlord of its interest in the Premises. The provisions of this Section and any exercise by either party
of any of the rights and remedies contained herein shall be without prejudice to any other rights and remedies that such party may
have under this Lease or under applicable Law with respect to any Environmental Conditions and/or any Hazardous Materials. Either
party’s exercise or failure to exercise, at any time or from time to time, any or all of the rights granted in this
Section shall not in any way impose any liability on such party or shift from the other party to such party any responsibility
or obligation imposed upon the other party under this Lease or under Hazardous Materials Laws, Environmental Conditions and/or
compliance with Laws.

 

(15)         Laboratory
Rules and Regulations. Tenant agrees for itself and for its subtenants, employees, agents, and invitees to comply with the laboratory
rules and regulations (“Laboratory Rules and Regulations”) attached to this Lease as Exhibit C-1 and
with all reasonable modifications and additions thereto which Landlord may make from time to time.

 

7.2           LANDLORD
ACCESS TO PREMISES; APPROVALS

 

(a)            Tenant
shall permit Landlord to erect, use and maintain pipes, ducts, wiring and conduits in and through the Premises, so long as Tenant’s
use, layout or design of the Premises is not materially affected or altered. Landlord or Landlord’s agents shall have the right
to enter upon the Premises in the event of an emergency, or to inspect the Premises, to perform any services required hereunder, to conduct
safety and other testing in the Premises and to make such repairs, alterations, improvements or additions to the Premises or the Building
or other parts of the Property as Landlord may deem necessary or desirable (including all alterations, improvements and additions in connection
with a change in service provider or providers). Any entry or work by Landlord may be during Standard Operating Hours and Landlord shall
use reasonable efforts to ensure that any entry or work shall not materially interfere with Tenant’s occupancy of the Premises.

 

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(b)            Advance
notice shall not be required for entry in the event of an emergency or urgent situation, as reasonably determined by Landlord, but any
other entry or work by Landlord shall be upon at least one (1) business day’s prior notice to Tenant, which notice may be delivered
orally or by e-mail to Tenant’s on-site manager at the Premises. If Tenant shall not be personally present to permit an entry into
the Premises when for any reason an entry therein shall be necessary or permissible, Landlord (or Landlord’s agents), after attempting
to notify Tenant (unless Landlord believes an emergency situation exists), may enter the Premises without rendering Landlord or its agents
liable therefor, and without relieving Tenant of any obligations under this Lease.

 

(c)            Landlord
may enter the Premises for the purpose of conducting such inspections, tests and studies as Landlord may deem desirable or necessary to
confirm Tenant’s compliance with all Laws and Hazardous Materials Laws or for other purposes necessary in Landlord’s reasonable
judgment to ensure the sound condition of the Property and the systems serving the Property. Landlord’s rights under this Section 7.2(c) are
for Landlord’s own protection only, and Landlord has not, and shall not be deemed to have assumed, any responsibility to Tenant
or any other party as a result of the exercise or non-exercise of such rights, for compliance with Laws or Hazardous Materials Laws or
for the accuracy or sufficiency of any item or the quality or suitability of any item for its intended use.

 

(d)            Landlord
may do any of the foregoing, or undertake any of the inspection or work described in the preceding paragraphs without such action constituting
an actual or constructive eviction of Tenant, in whole or in part, or giving rise to an abatement of Rent by reason of loss or interruption
of business of Tenant, or otherwise.

 

(e)            The
review, approval or consent of Landlord with respect to any item required or permitted under this Lease is for Landlord’s own protection
only, and Landlord has not, and shall not be deemed to have assumed, any responsibility to Tenant or any other party, as a result of the
exercise or non-exercise of such rights, for compliance with Laws or Hazardous Materials Laws or for the accuracy or sufficiency of any
item or the quality or suitability of any item for its intended use.

 

7.3           QUIET
ENJOYMENT

 

Landlord covenants, in lieu
of any implied covenant of quiet possession or quiet enjoyment, that so long as Tenant is in compliance with the covenants and conditions
set forth in this Lease, Tenant shall have the right to quiet enjoyment of the Premises without hindrance or interference from Landlord
or those claiming through Landlord, and subject to the covenants and conditions set forth in this Lease and to the rights of any Mortgagee
or ground lessor.

 

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7.4          TRANSPORTATION
DEMAND MANAGEMENT PROGRAM

 

(a)          Landlord
may elect or may be required to develop and implement a Transportation Demand Management (“TDM”) program for the
Building in order to reduce the traffic-related impacts resulting from development of the Property. One element of any such
TDM program will require tenants of the Building to adopt programs and offer incentives to their employees to reduce auto use and
support the increase of alternative modes of transit. The following are examples of such programs and incentives:

 

(1)            Alternative
commute subsidies and/or parking cash-out, where employees are provided with a subsidy if they use transit or commute by alternative modes;

 

(2)            Opportunities
to purchase commuter checks which allow employees to purchase transit tickets at discounted rates from their before-tax income; and

 

(3)            Compressed
work weeks and flex time where employees adjust their work schedules to reduce peak hour trips to/from the Building.

 

(b)          In
order to support any such TDM program for the Building, Tenant agrees that it shall adopt programs and offer incentives to its employees
in order to reduce auto use and support the increase of alternative modes of transit. The specifics of Tenant’s programs and incentives
shall be tailored to the needs of Tenant’s workforce and shall be determined by Tenant in its good faith efforts to meet the goals
of the TDM program. Upon request by Landlord from time to time, but not more often than once per calendar year, Tenant shall provide to
Landlord a written report summarizing the programs and incentives being offered by Tenant to achieve the goals of the TDM program.

 

Article 8

MAINTENANCE

 

8.1          LANDLORD’S
MAINTENANCE

 

Subject to the provisions
of Articles 4 and 14, Landlord shall, as an Operating Expense, maintain and make necessary repairs to the foundations, roofs, exterior
walls, and the structural elements of the Building, the electrical, plumbing, heating, ventilating, air-conditioning, mechanical, communication,
security and the fire and life safety systems of the Building and those corridors, washrooms and lobbies which are Common Areas of the
Building, except that: (a) Landlord shall not be responsible for the maintenance or repair of any floor or wall coverings in the
Premises or any of such systems which are located within the Premises and are supplemental or special to the Building’s standard
systems; and (b) the cost of performing any of said maintenance or repairs whether to the Premises or to the Building caused by the
negligence of Tenant, its employees, agents, servants, licensees, subtenants, contractors or invitees, shall be paid by Tenant, subject
to the waivers set forth in Section 16.4. Landlord shall not be liable to Tenant for any expense, injury, loss or damage resulting
from work done in or upon, or in connection with the use of, any adjacent or nearby building, land, street or alley.

 

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8.2          TENANT’S
MAINTENANCE

 

Tenant shall
periodically inspect the Premises to identify any conditions that are dangerous or in need of maintenance, repair or replacement.
Tenant shall promptly provide Landlord with notice of any such conditions. Tenant shall, at its sole cost and expense, perform all
maintenance, repair and replacement of the Premises that are not Landlord’s express responsibility under this Lease, and keep
the Premises in good condition and repair, reasonable wear and tear excepted. Tenant’s maintenance, repair and replacement
obligations include, without limitation, maintenance, repairs and replacements of: (a) floor covering; (b) interior
partitions; (c) doors; (d) the interior side of demising walls; (e) electronic, phone and data cabling, wiring and
related equipment that is installed by or for the exclusive benefit of Tenant (collectively, “Cable”);
(f) supplemental air conditioning units, kitchens, including hot water heaters, plumbing, and similar facilities exclusively
serving Tenant; and (g) Tenant Alterations. Landlord shall allocate one hundred percent (100%) of the cost (plus any applicable
administration fees) of Landlord’s maintenance, repair or replacement of any Tenant Alterations, or repairs or replacements
required to areas outside of the Premises due to same, to Tenant as additional Rent under this Lease. Tenant shall reimburse
Landlord for the cost of repairing damage to the Building caused by the acts of Tenant, Tenant Parties and their respective
contractors and vendors. All maintenance, repairs and replacements, including, but not limited to, janitorial and cleaning services,
pest control and waste management and recycling performed by or on behalf of Landlord or Tenant must comply with the Project’s
Sustainability Practices and Tenant is strongly encouraged to comply with the applicable Green Building Standards. If Tenant fails
to make any repairs or replacements of the Premises for more than fifteen (15) days after notice from Landlord (although notice
shall not be required in an emergency), Landlord may make the repairs or replacements, and Tenant shall pay, as additional Rent
under this Lease, the reasonable cost of the repairs or replacements, together with an administrative charge in an amount equal to
15% of the cost of the repairs or replacements. Tenant hereby waives all right to make repairs or replacements at the expense of
Landlord or in lieu thereof to vacate the Premises and its other similar rights as provided in California Civil Code Sections
1932(1), 1941 and 1942 or any other Laws (whether now or hereafter in effect). In addition to the foregoing, Tenant shall be
responsible for all costs in connection with maintaining, repairing and replacing all special tenant fixtures and improvements,
including garbage disposals, showers, plumbing, water filtration systems and appliances. If Tenant requests that Landlord maintain,
repair and/or replace any such fixtures and improvements, Tenant shall reimburse Landlord for the cost of all such maintenance,
repair and replacement work, plus an administrative fee equal to fifteen percent (15%) of such cost, as additional Rent under this
Lease, and Landlord’s liability for such maintenance, repair and replacement work shall be subject to and limited by the
provisions of Article 17 below.

 

8.3          SUDDEN
WATER INTRUSION.

 

Notwithstanding anything in
this Lease to the contrary, in the event of sudden water intrusion into the Premises, due to a leaking or bursting pipe or other water
source, Landlord will have the right, but not the obligation, to undertake immediate mitigation and repairs measures (the “Water
Damage Work”) of such nature as would normally be Tenant’s responsibility under Section 8.2 above and to notify Tenant
promptly after the repairs have been undertaken (including notice by telephone, to the extent reasonably practicable). Landlord shall
determine, in its sole and absolute discretion, the contractors to be used for the Water Damage Work, and Tenant will reimburse Landlord
for the reasonable cost of the Water Damage Work, as additional Rent under this Lease, within 30 days following Tenant’s receipt
of written demand from Landlord therefor.

 

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Article 9

ALTERATIONS AND IMPROVEMENTS

 

9.1           TENANT
ALTERATIONS

 

(a)            The
following provisions shall apply to the completion of any Tenant Alterations:

 

(1)            Tenant
shall not, except as provided herein, without the prior written consent of Landlord, which consent shall not be unreasonably withheld,
make or cause to be made any Tenant Alterations in or to the Premises or any Property systems serving the Premises. Prior to making any
Tenant Alterations, Tenant shall give Landlord ten (10) days prior written notice (or such earlier notice as would be necessary pursuant
to applicable Law) to permit Landlord sufficient time to post appropriate notices of non-responsibility. Tenant shall furnish Landlord
with the names and addresses of all contractors and subcontractors and copies of all contracts. All Tenant Alterations shall be completed
at such time and in such manner as Landlord may from time to time designate, and only by contractors or mechanics approved by Landlord,
which approval shall not be unreasonably withheld; provided, however, that Landlord may, in its sole discretion, specify the engineers
and contractors to perform all work relating to the Building’s systems (including the mechanical, heating, plumbing, security, ventilating,
air-conditioning, electrical, communication and the fire and life safety systems in the Building). The contractors, mechanics and engineers
who may be used are further limited to those whose work will not cause or threaten to cause disharmony or interference with Landlord or
other tenants in the Building and their respective agents and contractors performing work in or about the Building. Landlord may further
condition its consent upon Tenant furnishing to Landlord and Landlord approving prior to the commencement of any work or delivery of materials
to the Premises related to the Tenant Alterations such of the following as specified by Landlord: architectural plans and specifications,
opinions from Landlord’s engineers stating that the Tenant Alterations will not in any way adversely affect the Building’s
systems, necessary permits and licenses, certificates of insurance, and such other documents in such form reasonably requested by Landlord.
Landlord may, in the exercise of reasonable judgment, request that Tenant provide Landlord with appropriate evidence of Tenant’s
ability to complete and pay for the completion of the Tenant Alterations such as a performance bond or letter of credit. Upon completion
of the Tenant Alterations, Tenant shall deliver to Landlord an as-built digitized set of plans and specifications for the Tenant Alterations
in both protected document (“.pdf”) and computer-aided design (“CAD”) formats.

 

(2)            Tenant
shall pay the cost of all Tenant Alterations and the cost of decorating the Premises and any work to the Property occasioned thereby.
Upon completion of Tenant Alterations, Tenant shall furnish Landlord with contractors’ affidavits and full and final waivers of
lien and receipted bills covering all labor and materials expended and used in connection therewith and such other documentation reasonably
requested by Landlord or Mortgagee.

 

(3)            Tenant
agrees to complete all Tenant Alterations (i) in accordance with all Laws, Hazardous Materials Laws, all requirements of
applicable insurance companies and in accordance with Landlord’s standard construction rules and regulations,
(ii) in a good and workmanlike manner with the use of good grades of materials, and (iii) in accordance with the
requirements of the Project’s Sustainability Practices and Tenant is strongly encouraged to comply with the applicable Green
Building Standards. Tenant shall notify Landlord immediately if Tenant receives any notice of violation of any Law in connection
with completion of any Tenant Alterations and shall immediately take such steps as are necessary to remedy such violation. In
no event shall such supervision or right to supervise by Landlord nor shall any approvals given by Landlord under this Lease
constitute any warranty by Landlord to Tenant of the adequacy of the design, workmanship or quality of such work or materials for
Tenant’s intended use or of compliance with the requirements of Section 9.1(a)(3)(i) and (ii) above or impose
any liability upon Landlord in connection with the performance of such work.

 

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(b)            For
any Tenant Alterations which Tenant requests Landlord to install, the forgoing provisions of this Section 9.1 shall apply; provided,
however, in addition to paying the cost of the Tenant Alterations, Tenant also shall pay an administrative fee equal to fifteen percent
(15%) of such cost to Landlord, as additional Rent under this Lease, and Landlord’s liability for such Tenant Alterations work shall
be subject to and limited by the provisions of Article 17 below. All Tenant Additions, whether installed by Landlord or Tenant, shall
without compensation or credit to Tenant, become part of the Premises and the property of Landlord at the time of their installation and
shall remain in the Premises, unless pursuant to Article 12, Tenant may remove them or is required to remove them at Landlord’s
request.

 

(c)            Notwithstanding
anything in this Section 9.1 to the contrary, Landlord’s consent shall not be required for any Tenant Alteration that satisfies
all of the following criteria (a “Cosmetic Alteration”): (i) is of a cosmetic nature such as painting, wallpapering,
hanging pictures and installing carpeting; (ii) is not visible from the exterior of the Premises or Building; (iii) will not
affect the Building’s systems; (iv) does not require work to be performed inside the walls or above the ceiling of the Premises;
(v) does not require a building permit; and (f) does not exceed (in the aggregate with all other such Cosmetic Alterations)
$75,000.00 in any calendar year during the Term. Cosmetic Alterations shall be subject to all the other provisions of this Section 9.1.

 

9.2           LIENS

 

Tenant shall not permit any
lien or claim for lien of any mechanic, laborer or supplier or any other lien to be filed against the Building, the Land, the Premises,
or any other part of the Property arising out of work performed, or alleged to have been performed by, or at the direction of, or on behalf
of Tenant. If any such lien or claim for lien is filed, Tenant shall within ten (10) days after receiving notice of such lien or
claim (a) have such lien or claim for lien released of record or (b) deliver to Landlord a bond in form, content, amount, and
issued by surety, satisfactory to Landlord, indemnifying, protecting, defending and holding harmless the Indemnitees against all costs
and liabilities resulting from such lien or claim for lien and the foreclosure or attempted foreclosure thereof. If Tenant fails to take
any of the above actions, Landlord, in addition to its rights and remedies under Article 11, without investigating the validity of
such lien or claim for lien, may pay or discharge the same and Tenant shall, as payment of additional Rent hereunder, reimburse Landlord
upon demand for the amount so paid by Landlord, including Landlord’s expenses and attorneys’ fees.

 

Article 10

ASSIGNMENT AND SUBLETTING

 

10.1         ASSIGNMENT
AND SUBLETTING

 

(a)            Without
the prior written consent of Landlord, which consent of Landlord shall not be unreasonably withheld, conditioned or delayed, Tenant may
not sublease, assign, mortgage, pledge, hypothecate or otherwise transfer or permit the transfer of this Lease or the encumbering of Tenant’s
interest therein in whole or in part, by operation of Law or otherwise or permit the use or occupancy of the Premises, or any part thereof,
by anyone other than Tenant. Tenant agrees that the provisions governing sublease and assignment set forth in this Article 10 shall
be deemed to be reasonable. If Tenant desires to enter into any sublease of the Premises or assignment of this Lease, Tenant shall deliver
written notice thereof to Landlord (“Tenant’s Notice”), together with the identity of the proposed subtenant or assignee
and the proposed principal terms thereof and financial and other information sufficient for Landlord to make an informed judgment with
respect to such proposed subtenant or assignee within fifteen (15) days after receiving Tenant’s Notice. If Tenant proposes to sublease
less than all of the Rentable Area of the Premises, the space proposed to be sublet and the space retained by Tenant must each be a marketable
unit as reasonably determined by Landlord and otherwise in compliance with all Laws. Landlord shall notify Tenant in writing of its approval
or disapproval of the proposed sublease or assignment or its decision to exercise its rights under Section 10.2 within thirty (30)
days after receipt of Tenant’s Notice (and all required information). In no event may Tenant publicly offer or advertise all or
any portion of the Premises for assignment or sublease at a rental less than that then sought by Landlord for a direct lease (non-sublease)
of comparable space in the Project. Tenant shall submit for Landlord’s approval (which approval shall not be unreasonably withheld)
any advertising which Tenant or its agents intend to use with respect to the space proposed to be sublet.

 

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(b)            With
respect to Landlord’s consent to an assignment or sublease, Landlord may take into consideration any factors that Landlord may deem
relevant, and the reasons for which Landlord’s denial shall be deemed to be reasonable shall include, without limitation, the following:

 

(i)            the
business reputation or creditworthiness of any proposed subtenant or assignee is not acceptable to Landlord; or

 

(ii)            in
Landlord’s reasonable judgment the proposed assignee or sublessee would diminish the value or reputation of the Project or Landlord,
or would increase the expenses associated with operating, maintaining and repairing the Project; or

 

(iii)            any
proposed assignee’s or sublessee’s use of the Premises would violate Section 7.1 of this Lease or would violate the provisions
of any other leases of tenants in the Project; or

 

(iv)            the
portion of the Premises retained by Tenant after a proposed sublease would not constitute a “marketable unit”, meaning that
such space would be: (A) deprived of ready access to the then-current corridor and elevator lobby without extension or reconfiguration
of the corridor or creation of a connecting corridor; or (B) rendered in violation of any building code requirements; or (C) lacking
exterior windows; or

 

(v)            the
proposed sublessee or assignee is a current occupant of the Project with which Landlord is actively negotiating to lease more space in
the Building or a bona fide prospective tenant of Landlord in the Project as demonstrated by a written proposal dated within three (3) months
prior to the date of Tenant’s request; or

 

(vi)            the
proposed sublessee or assignee would materially increase the estimated pedestrian and vehicular traffic to and from the Premises and the
Project above that deemed typical by Landlord for office/lab use in the Project; or

 

(vii)            Tenant
is in uncured Default under this Lease.

 

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(c)            Any
sublease or assignment shall be expressly subject to the terms and conditions of this Lease. Any subtenant or assignee shall execute such
documents as Landlord may reasonably require to evidence such subtenant or assignee’s assumption of the obligations and liabilities
of Tenant under this Lease. Tenant shall deliver to Landlord a copy of all agreements executed by Tenant and the proposed subtenant and
assignee with respect to the Premises. Landlord’s approval of a sublease, assignment, hypothecation, transfer or third party use
or occupancy shall not constitute a waiver of Tenant’s obligation to obtain Landlord’s consent to further assignments or subleases,
hypothecations, transfers or third party use or occupancy.

 

(d)            For
purposes of this Article 10, an assignment shall be deemed to include a change in the majority control of Tenant, resulting from
any transfer, sale or assignment of shares of stock of Tenant occurring by operation of Law or otherwise if Tenant is a corporation whose
shares of stock are not traded publicly. If Tenant is a partnership, any change in the partners of Tenant shall be deemed to be an assignment.

 

(e)            For
purposes of this Lease, a “Permitted Transferee” shall mean any Person which: (i) is an Affiliate; or (ii) is
the corporation or other entity (the “Successor”) resulting from a merger, consolidation or non-bankruptcy
reorganization with Tenant; or (iii) is otherwise a deemed assignee due to a change of control under
Section 10.1(d) above; or (iv) purchases substantially all the assets of Tenant as a going concern (the
 “Purchaser”). Notwithstanding anything to the contrary in Sections 10.1(a) and (b), 10.2 and 10.3, provided there
is no uncured Default under this Lease, Tenant shall have the right, without the prior written consent of Landlord, to assign this
Lease to a Permitted Transferee or to sublease the Premises or any part thereof to a Permitted Transferee provided that:
(1) Landlord receives thirty (30) days’ prior written notice of an assignment or sublease (including a proposed
transaction described in subparts (i), (ii), (iii) or (iv) of this Section 10.1(e)); (2) with respect to an
assignment of this Lease or a sublease of more than half the Premises to an entity described in subparts (ii) or (iv) of
this Section 10.1(e), the Permitted Transferee’s net worth and liquidity are each not less than the greater of
(A) Tenant’s net worth and liquidity as of the date of this Lease or (B) Tenant’s net worth and liquidity
immediately prior to such assignment or subletting; (3) with respect to an assignment of this Lease or a sublease of more than
half the Premises to an entity described in subparts (i) or (iii) of this Section 10.1(e), Tenant (as the assignor or
sublandlord) continues in existence with a net worth and liquidity not less than the greater of (A) Tenant’s net worth
and liquidity as of the date of this Lease or (B) Tenant’s net worth and liquidity immediately prior to such assignment
or subletting; (4) the Permitted Transferee expressly assumes (except a Permitted Transferee which is a deemed assignee under
subpart (iii) of this Section 10.1(e) or which is a sublessee in the event of a sublease under this
Section 10.1(e)) in writing reasonably satisfactory to Landlord all of the obligations of Tenant under this Lease and delivers
such assumption to Landlord no later than fifteen (15) days prior to the effective date of the assignment; (5) Landlord
receives no later than five (5) days before the effective date a fully executed copy of the applicable assignment or sublease
agreement between Tenant and the Permitted Transferee; (6) promptly after Landlord’s written request, Tenant and
the Permitted Transferee provide such reasonable documents and information which Landlord reasonably requests for the purpose of
substantiating whether or not the assignment or sublease is to a Permitted Transferee; and (7) such transfer is not being
entered into for the purpose of avoiding the requirement for Landlord’s prior consent or the provisions of Sections 10.2 or
10.3. All determinations of net worth and liquidity for purposes of this Subsection shall exclude any value attributable to goodwill
or going concern value. Provided that Tenant complies with the terms of this Section 10.1(e), the excess rent provisions of
Section 10.3 shall not apply to any assignment or sublease pursuant hereto.

 

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(f)            With
respect to any sublease hereunder, Tenant hereby irrevocably assigns to Landlord, effective upon any such sublease, all rent and other
payments due from subtenant under the sublease, provided however, that Tenant shall have a license to collect such rent and other payments
until the occurrence of a Default by Tenant under any of the provisions of this Lease. At any time after such Default, at Landlord’s
option, Landlord shall have the right to give notice to the subtenant of such assignment. Landlord shall credit Tenant with any rent received
by Landlord under such assignment but the acceptance of any payment on account of rent from the subtenant as the result of any such default
shall in no manner whatsoever serve to release Tenant from any liability under the terms, covenants, conditions, provisions or agreement
under this Lease. No such payment of rent or any other payment by the subtenant directly to Landlord and/or acceptance of such payment(s) by
Landlord, regardless of the circumstances or reasons therefor, shall in any manner whatsoever be deemed an attornment by the subtenant
to Landlord in the absence of a specific written agreement signed by Landlord to such an effect.

 

10.2         RECAPTURE

 

Excluding any assignment or
sublease contemplated in Section 10.1(e), Landlord shall have the option to exclude from the Premises covered by this Lease (“recapture”)
the space proposed to be sublet or subject to the assignment, effective as of the proposed commencement date of such sublease or assignment.
If Landlord elects to recapture, Tenant shall surrender possession of the space proposed to be subleased or subject to the assignment
to Landlord on the effective date of recapture of such space from the Premises, such date being the Termination Date for such space. Effective
as of the date of recapture of any portion of the Premises pursuant to this section, the Monthly Base Rent, Rentable Area of the Premises
and Tenant’s Share shall be adjusted accordingly.

 

10.3         EXCESS
RENT

 

Tenant shall pay Landlord
on the first day of each month during the term of the sublease or assignment, as additional Rent under this Lease, fifty percent (50%)
of the amount by which the sum of all rent and other consideration (direct or indirect) due from the subtenant or assignee for such month
exceeds: (i) that portion of the Monthly Base Rent and Rent Adjustments due under this Lease for said month which is allocable to
the space sublet or assigned; and (ii) the following costs and expenses for the subletting or assignment of such space: (1) brokerage
commissions and attorneys’ fees and expenses, (2) the actual costs paid in making any improvements or substitutions in the
Premises required by any sublease or assignment; and (3) moving costs and other amounts actually paid with respect of such subtenant’s
or assignee’s other leases or occupancy arrangements, but only to the extent same are typical, reasonable and appropriate under
the prevailing market conditions. All such costs and expenses shall be amortized over the term of the sublease or assignment pursuant
to sound accounting principles.

 

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10.4        TENANT
LIABILITY

 

In the event of any sublease
or assignment, whether or not with Landlord’s consent, Tenant shall not be released or discharged from any liability, whether past,
present or future, under this Lease, including any liability arising from the exercise of any renewal or expansion option, to the extent
such exercise is expressly permitted by Landlord. Tenant’s liability shall remain primary, and in the event of default by any subtenant,
assignee or successor of Tenant in performance or observance of any of the covenants or conditions of this Lease, Landlord may proceed
directly against Tenant without the necessity of exhausting remedies against said subtenant, assignee or successor. After any assignment,
Landlord may consent to subsequent assignments or subletting of this Lease, or amendments or modifications of this Lease with assignees
of Tenant, without notifying Tenant, or any successor of Tenant, and without obtaining its or their consent thereto, and such action shall
not relieve Tenant or any successor of Tenant of liability under this Lease. If Landlord grants consent to such sublease or assignment,
Tenant shall pay all reasonable attorneys’ fees and expenses incurred by Landlord with respect to such assignment or sublease. In
addition, if Tenant has any options to extend the Term or to add other space to the Premises, such options shall not be available to any
subtenant or assignee, directly or indirectly without Landlord’s express written consent, which may be withheld in Landlord’s
sole discretion.

 

10.5        ASSUMPTION
AND ATTORNMENT

 

If Tenant shall assign this
Lease as permitted herein, the assignee shall expressly assume all of the obligations of Tenant hereunder in a written instrument satisfactory
to Landlord and furnished to Landlord not later than fifteen (15) days prior to the effective date of the assignment. Each sublease by
Tenant hereunder shall be subject and subordinate to this Lease and to the matters to which this Lease is or shall be subordinate, and
each subtenant by entering into a sublease is deemed to have agreed that in the event of termination, re-entry or dispossession by Landlord
under this Lease, Landlord may, at its option, either terminate the sublease or take over all of the right, title and interest of Tenant,
as sublandlord, under such sublease, and such subtenant shall, at Landlord’s option, attorn to Landlord pursuant to the then executory
provisions of such sublease, except that Landlord shall not be: (1) liable for any previous act or omission of Tenant under such
sublease; (2) subject to any counterclaim, offset or defense that such subtenant might have against Tenant; (3) bound by any
previous modification of such sublease or by any rent or additional rent or advance rent which such subtenant might have paid for more
than the current month to Tenant, and all such rent shall remain due and owing, notwithstanding such advance payment; (4) bound by
any security or advance rental deposit made by such subtenant which is not delivered or paid over to Landlord and with respect to which
such subtenant shall look solely to Tenant for refund or reimbursement; or (5) obligated to perform any work in the subleased space
or to prepare it for occupancy, and in connection with such attornment, the subtenant shall execute and deliver to Landlord any instruments
Landlord may reasonably request to evidence and confirm such attornment. Each subtenant or licensee of Tenant shall be deemed, automatically
upon and as a condition of its occupying or using the Premises or any part thereof, to have agreed to be bound by the terms and conditions
set forth in this Section 10.5. The provisions of this Section 10.5 shall be self-operative, and no further instrument shall
be required to give effect to this provision.

 

10.6         PROCESSING
EXPENSES

 

Tenant shall pay to Landlord,
as Landlord’s cost of processing each proposed assignment or subletting (whether or not the same is ultimately approved by Landlord
or consummated by Tenant), an amount equal to the sum of (i) Landlord’s reasonable attorneys’ and other professional
fees, plus (ii) the sum of $2,500.00 for the cost of Landlord’s administrative, accounting and clerical time (collectively,
 “Processing Costs”). Notwithstanding anything to the contrary herein, Landlord shall not be required to process any request
for Landlord’s consent to an assignment or subletting until Tenant has paid to Landlord the amount of Landlord’s estimate
of the Processing Costs. When the actual amount of the Processing Costs is determined, it shall be reconciled with Landlord’s estimate,
and any payments or refunds required as a result thereof shall promptly thereafter be made by the parties.

 

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10.7         EFFECT
OF IMPERMISSIBLE TRANSFER

 

Any assignment or sublease
effected without Landlord’s consent in violation of this Article 10 shall, at Landlord’s option, be a noncurable Default
under Section 11.1 without the necessity of any notice and grace period. If Landlord elects to treat such unapproved assignment or
sublease as a noncurable Default, Landlord may, in addition to all other remedies provided for in Section 11.2 below, increase the
Monthly Base Rent to one hundred ten percent (110%) of the Monthly Base Rent then in effect.

 

Article 11

DEFAULT AND REMEDIES

 

11.1         DEFAULT

 

The occurrence or existence
of any one or more of the following shall constitute a “Default” by Tenant under this Lease:

 

(a)            Tenant
fails to pay any installment or other payment of Rent including Rent Adjustment Deposits or Rent Adjustments within five (5) business
days after the date when due;

 

(b)            Tenant
vacates or abandons the Premises;

 

(c)            Tenant
violates the restrictions on assignments and subleases set forth in Article 10 – Assignment and Subletting;

 

(d)            Tenant
fails to maintain any insurance policy required hereunder, and fails to cure such default within five (5) days after written notice
thereof to Tenant;

 

(e)            Tenant
fails to observe or perform any of the other covenants, conditions or provisions of this Lease and fails to cure such default within
fifteen (15) days after written notice thereof to Tenant, unless the default involves an Environmental Condition, which shall
be cured forthwith or unless the failure to perform is a Default for which this Lease specifies there is no cure or grace
period;

 

(f)            the
interest of Tenant in this Lease is levied upon under execution or other legal process;

 

(g)            a
petition is filed by or against Tenant to declare Tenant bankrupt or seeking a plan of reorganization or arrangement under any Chapter
of the Bankruptcy Code, or any amendment, replacement or substitution therefor, or to delay payment of, reduce or modify Tenant’s
debts, which in the case of an involuntary action is not discharged within thirty (30) days;

 

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(h)            Tenant
is declared insolvent by Law or any assignment of Tenant’s property is made for the benefit of creditors;

 

(i)            a
receiver is appointed for Tenant or Tenant’s property, which appointment is not discharged within thirty (30) days;

 

(j)            any
action taken by or against Tenant to reorganize or modify Tenant’s capital structure in a materially adverse way which in the case
of an involuntary action is not discharged within thirty (30) days;

 

(k)            upon
the dissolution of Tenant; or

 

(l)            upon
the third occurrence during any 12-month period during the Term that Tenant fails to pay Rent when due or has breached a particular covenant
of this Lease (whether or not such failure or breach is thereafter cured within any stated cure or grace period or statutory period).

 

11.2         LANDLORD’S
REMEDIES

 

(a)            A
Default shall constitute a breach of this Lease for which Landlord shall have the rights and remedies set forth in this Section 11.2
and all other rights and remedies set forth in this Lease or now or hereafter allowed by Law, whether legal or equitable, and all rights
and remedies of Landlord shall be cumulative and none shall exclude any other right or remedy now or hereafter allowed by applicable Law.

 

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(b)            With
respect to a Default, at any time Landlord may terminate Tenant’s right to possession by written notice to Tenant stating such election.
Any written notice required pursuant to Section 11.1 shall constitute notice of unlawful detainer pursuant to California Code of
Civil Procedure Section 1161 if, at Landlord’s sole discretion, it states Landlord’s election that Tenant’s right
to possession is terminated after expiration of any period required by Law or any longer period required by Section 11.1. Upon the
expiration of the period stated in Landlord’s written notice of termination (and unless such notice provides an option to cure within
such period and Tenant cures the Default within such period), Tenant’s right to possession shall terminate and this Lease shall
terminate, and Tenant shall remain liable as hereinafter provided. Upon such termination in writing of Tenant’s right to possession,
Landlord shall have the right, subject to applicable Law, to re-enter the Premises and dispossess Tenant and the legal representatives
of Tenant and all other occupants of the Premises by unlawful detainer or other summary proceedings, or as otherwise permitted by Law,
regain possession of the Premises and remove their property (including their trade fixtures, personal property and Required Removables
pursuant to Article 12), but Landlord shall not be obligated to effect such removal, and such property may, at Landlord’s option,
be stored elsewhere, sold or otherwise dealt with as permitted by Law, at the risk of, expense of and for the account of Tenant, and the
proceeds of any sale shall be applied pursuant to Law. Landlord shall in no event be responsible for the value, preservation or safekeeping
of any such property. Tenant hereby waives all claims for damages that may be caused by Landlord’s removing or storing Tenant’s
personal property pursuant to this Section or Section 12.1, and Tenant hereby indemnifies, and agrees to defend, protect and
hold harmless, the Indemnitees from any and all loss, claims, demands, actions, expenses, liability and cost (including attorneys’
fees and expenses) arising out of or in any way related to such removal or storage. Upon such written termination of Tenant’s right
to possession and this Lease, Landlord shall have the right to recover damages for Tenant’s Default as provided herein or by Law,
including the following damages provided by California Civil Code Section 1951.2:

 

(1)            the
worth at the time of award of the unpaid Rent which had been earned at the time of termination;

 

(2)            the
worth at the time of award of the amount by which the unpaid Rent which would have been earned after termination until the time of award
exceeds the amount of such Rent loss that Tenant proves could reasonably have been avoided;

 

(3)            the
worth at the time of award of the amount by which the unpaid Rent for the balance of the term of this Lease after the time of award exceeds
the amount of such Rent loss that Tenant proves could be reasonably avoided;

 

(4)            any
other amount necessary to compensate Landlord for all the detriment proximately caused by Tenant’s failure to perform its obligations
under this Lease or which in the ordinary course of things would be likely to result therefrom, including, without limitation, Landlord’s
unamortized costs of tenant improvements, leasing commissions and legal fees incurred in connection with entering into this Lease; and

 

(5)            any
other amounts, in addition to or in lieu of those listed above, that may be permitted by applicable Law.

 

The word “rent”
as used in this Section 11.2 shall have the same meaning as the defined term Rent in this Lease. The “worth at the time of
award” of the amount referred to in clauses (1) and (2) above is computed by allowing interest at the Default Rate. The
worth at the time of award of the amount referred to in clause (3) above is computed by discounting such amount at the discount rate
of the Federal Reserve Bank of San Francisco at the time of award plus one percent (1%). For the purpose of determining unpaid Rent under
clause (3) above, the monthly Rent reserved in this Lease shall be deemed to be the sum of the Monthly Base Rent, monthly storage
space rent, if any, the amounts last payable by Tenant as Rent Adjustments for the calendar year in which Landlord terminated this Lease
as provided hereinabove, and any additional Rent under this Lease.

 

(c)            Even
if Tenant is in Default and/or has abandoned the Premises, this Lease shall continue in effect for so long as Landlord does not terminate
Tenant’s right to possession by written notice as provided in Section 11.2(b) above, and Landlord may enforce all its
rights and remedies under this Lease, including the right to recover Rent as it becomes due under this Lease. In such event, Landlord
shall have all of the rights and remedies of a landlord under California Civil Code Section 1951.4 (lessor may continue Lease in
effect after lessee’s breach and abandonment and recover Rent as it becomes due, if lessee has the right to sublet or assign, subject
only to reasonable limitations), or any successor statute. During such time as Tenant is in Default, if Landlord has not terminated this
Lease by written notice and if Tenant requests Landlord’s consent to an assignment of this Lease or a sublease of the Premises,
such consent shall be governed by the terms and conditions of Article 10 above. Tenant acknowledges and agrees that the provisions
of Article 10 shall be deemed to constitute reasonable limitations of Tenant’s right to assign or sublet. Tenant acknowledges
and agrees that in the absence of written notice pursuant to Section 11.2(b) above terminating Tenant’s right to possession,
no other act of Landlord shall constitute a termination of Tenant’s right to possession or an acceptance of Tenant’s surrender
of the Premises, including acts of maintenance or preservation or efforts to relet the Premises or the appointment of a receiver upon
initiative of Landlord to protect Landlord’s interest under this Lease or the withholding of consent to a subletting or assignment,
or terminating a subletting or assignment, if in accordance with other provisions of this Lease.

 

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(d)            In
the event that Landlord seeks an injunction with respect to a breach or threatened breach by Tenant of any of the covenants, conditions
or provisions of this Lease, Tenant agrees to pay the premium for any bond required in connection with such injunction.

 

(e)            Tenant
hereby waives any and all rights to relief from forfeiture, redemption or reinstatement granted by Law (including California Civil Code
of Procedure Sections 1174 and 1179) in the event of Tenant being evicted or dispossessed for any cause or in the event of Landlord obtaining
possession of the Premises by reason of Tenant’s Default or otherwise.

 

(f)            Notwithstanding
any other provision of this Lease, a notice to Tenant given under this Article and Article 24 of this Lease or given pursuant
to California Code of Civil Procedure Section 1161, and any notice served by mail, shall be deemed served, and the requisite waiting
period deemed to begin under said Code of Civil Procedure Section upon mailing (except as may be required under Code of Civil Procedure
Section 1161 et seq.), without any additional waiting requirement under Code of Civil Procedure Section 1011 et seq. or by other
Law. For purposes of Code of Civil Procedure Section 1162, Tenant’s “place of residence”, “usual place of
business”, “the property” and “the place where the property is situated” shall mean and be the Premises,
whether or not Tenant has vacated same at the time of service.

 

(g)            The
voluntary or other surrender or termination of this Lease, or a mutual termination or cancellation thereof, shall not work a merger and
shall terminate all or any existing assignments, subleases, subtenancies or occupancies permitted by Tenant, except if and as otherwise
specified in writing by Landlord.

 

(h)            No
delay or omission in the exercise of any right or remedy of Landlord upon any default by Tenant, and no exercise by Landlord of its
rights pursuant to Section 25.16 to perform any duty which Tenant fails timely to perform, shall impair any right or remedy or
be construed as a waiver. No provision of this Lease shall be deemed waived by Landlord unless such waiver is in writing
signed by Landlord. The waiver by Landlord of any breach of any provision of this Lease shall not be deemed a waiver of any
subsequent breach of the same or any other provision of this Lease.

 

11.3        ATTORNEY’S
FEES

 

In the event any party brings
any suit or other proceeding with respect to the subject matter or enforcement of this Lease, the prevailing party (as determined by the
court, agency or other authority before which such suit or proceeding is commenced) shall, in addition to such other relief as may be
awarded, be entitled to recover attorneys’ fees, expenses and costs of investigation as actually incurred, including court costs,
expert witness fees, costs and expenses of investigation, and all attorneys’ fees, costs and expenses in any such suit or proceeding
(including in any action or participation in or in connection with any case or proceeding under the Bankruptcy Code, 11 United States
Code Sections 101 et seq. (the “Bankruptcy Code”), or any successor statutes, in establishing or enforcing the right to indemnification,
in appellate proceedings, or in connection with the enforcement or collection of any judgment obtained in any such suit or proceeding).

 

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11.4         BANKRUPTCY

 

The following provisions shall
apply in the event of the bankruptcy or insolvency of Tenant:

 

(a)            In
connection with any proceeding under Chapter 7 of the Bankruptcy Code where the trustee of Tenant elects to assume this Lease for the
purposes of assigning it, such election or assignment, may only be made upon compliance with the provisions of (b) and (c) below,
which conditions Landlord and Tenant acknowledge to be commercially reasonable. In the event the trustee elects to reject this Lease,
then Landlord shall immediately be entitled to possession of the Premises without further obligation to Tenant or the trustee.

 

(b)            Any
election to assume this Lease under Chapter 11 or 13 of the Bankruptcy Code by Tenant as debtor-in-possession or by Tenant’s trustee
(the “Electing Party”) must provide for:

 

The Electing Party to cure
or provide to Landlord adequate assurance that it will cure all monetary defaults under this Lease within fifteen (15) days from the date
of assumption, and that it will cure all nonmonetary defaults under this Lease within thirty (30) days from the date of assumption. Landlord
and Tenant acknowledge such condition to be commercially reasonable.

 

(c)            If
the Electing Party has assumed this Lease or elects to assign Tenant’s interest under this Lease to any other person, such interest
may be assigned only if the intended assignee has provided adequate assurance of future performance (as herein defined), of all of the
obligations imposed on Tenant under this Lease.

 

For the purposes hereof, “adequate
assurance of future performance” means that Landlord has ascertained that each of the following conditions has been satisfied:

 

(i)            The
assignee has submitted a current financial statement, certified by its chief financial officer, which shows a net worth and working capital
in amounts sufficient to assure the future performance by the assignee of Tenant’s obligations under this Lease; and

 

(ii)            Landlord
has obtained consents or waivers from any third parties that may be required under a lease, mortgage, financing arrangement, or other
agreement by which Landlord is bound, to enable Landlord to permit such assignment.

 

(d)            Landlord’s
acceptance of rent or any other payment from any trustee, receiver, assignee, person, or other entity will not be deemed to have waived,
or waive, the requirement of Landlord’s consent, Landlord’s right to terminate this Lease for any transfer of Tenant’s
interest under this Lease without such consent, or Landlord’s claim for any amount of Rent due from Tenant.

 

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11.5         LANDLORD’S
DEFAULT

 

Landlord shall be in
default hereunder in the event Landlord has not commenced and pursued with reasonable diligence the cure of any failure of Landlord
to meet its obligations hereunder within thirty (30) days after the receipt by Landlord of written notice from Tenant of the alleged
failure to perform. Failure to provide the requisite notice and cure period by Tenant under this paragraph shall be an absolute
defense by Landlord against any claims for failure to perform any of its obligations. In no event shall Tenant have the right to
terminate or rescind this Lease as a result of Landlord’s default as to any covenant or agreement contained in this Lease.
Tenant hereby waives such remedies of termination and rescission and hereby agrees that Tenant’s remedies for default
hereunder and for breach of any promise or inducement shall be limited to a suit for damages and/or injunction. In addition, Tenant
hereby covenants that, prior to the exercise of any such remedies, it will give any Mortgagee notice and a reasonable time to cure
any default by Landlord (as specified in Section 23.2 below).

 

Article 12

SURRENDER OF PREMISES

 

12.1         IN
GENERAL

 

Upon the Termination Date,
Tenant shall surrender and vacate the Premises immediately and deliver possession thereof to Landlord in a clean, good and tenantable
condition, ordinary wear and tear excepted, and any damage from casualty and condemnation, and damage caused by Landlord, shall be governed
by the provisions of this Lease dealing specifically therewith. Tenant shall deliver to Landlord all keys to the Premises. All improvements
in and to the Premises, including any Tenant Alterations (collectively, “Leasehold Improvements”) shall remain upon the Premises
at the end of the Term without compensation to Tenant. Landlord, however, by written notice to Tenant at least 30 days prior to the Termination
Date, may require Tenant, at its expense, to remove (a) any Cable, and (b) any Tenant Additions that, in Landlord’s reasonable
judgment, are of a nature that would require removal and repair costs that are materially in excess of the removal and repair costs associated
with standard laboratory and office improvements (collectively referred to as “Required Removables”). Required Removables
may include, without limitation, internal stairways, raised floors, personal baths and showers, vaults, rolling file systems and structural
alterations and modifications. The designated Required Removables shall be removed by Tenant before the Termination Date. Tenant’s
removal and disposal of items pursuant to this Section 12.1 must comply with the Project’s Sustainability Practices and Tenant
is strongly encouraged to comply with the applicable Green Building Standards. Tenant shall repair damage caused by the installation or
removal of Required Removables. If Tenant fails to perform its obligations in a timely manner, Landlord may perform such work at Tenant’s
expense. In the event possession of the Premises is not delivered to Landlord when required hereunder, or if Tenant shall fail to remove
those items described above, Landlord may (but shall not be obligated to), at Tenant’s expense, remove any of such property and
store, sell or otherwise deal with such property, and undertake, at Tenant’s expense, such restoration work as Landlord deems necessary
or advisable. Notwithstanding anything in this Section 12.1 to the contrary, failure by Tenant to strictly comply with the provisions
of this Section 12.1 with respect to any Required Removables that are required to be removed from the Premises by Tenant hereunder
shall constitute a failure of Tenant to validly surrender the Premises.

 

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12.2         LANDLORD’S
RIGHTS

 

All property which may be
removed from the Premises by Landlord shall be conclusively presumed to have been abandoned by Tenant and Landlord may deal with such
property as provided in Section 11.2(b), including the waiver and indemnity obligations provided in that Section. Tenant shall also
reimburse Landlord for all costs and expenses incurred by Landlord in removing any Tenant Additions and in restoring the Premises to the
condition required by this Lease.

 

Article 13

HOLDING OVER

 

In the event that Tenant holds
over in possession of the Premises after the Termination Date, for each month or partial month Tenant holds over possession of the Premises,
Tenant shall pay Landlord 150% of the monthly Rent payable for the month immediately preceding the holding over (including 100% of any
applicable Rent Adjustments or increases to Rent Adjustments which Landlord may reasonably estimate). Tenant shall also pay all damages,
including consequential damages, sustained by Landlord by reason of such holding over. The provisions of this Article shall not constitute
a waiver by Landlord of any re-entry rights of Landlord, and Tenant’s continued occupancy of the Premises shall be as a tenancy
in sufferance.

 

Article 14

DAMAGE BY FIRE OR OTHER CASUALTY

 

14.1         SUBSTANTIAL
UNTENANTABILITY

 

(a)            If
any fire or other casualty (whether insured or uninsured) renders all or a substantial portion of the Premises or the Building
untenantable, Landlord shall, with reasonable promptness after the occurrence of such damage, estimate the length of time that will
be required to substantially complete the repair and restoration and shall, by notice advise Tenant of such estimate
(“Landlord’s Notice”). If Landlord estimates that the amount of time required to substantially complete such
repair and restoration will exceed three hundred sixty-five (365) days from the date such damage occurred, then Landlord, or Tenant
if all or a substantial portion of the Premises is rendered untenantable, shall have the right to terminate this Lease as of the
date of such damage by delivering written notice to the other at any time within twenty (20) days after delivery of
Landlord’s Notice, provided that if Landlord so chooses, Landlord’s Notice may also constitute such notice of
termination.

 

(b)            Unless
this Lease is terminated as provided in the preceding subparagraph, Landlord shall proceed with reasonable promptness to repair and restore
the Premises to its condition as existed prior to such casualty, subject to reasonable delays for insurance adjustments and Force Majeure
delays, and also subject to zoning Laws and building codes then in effect. Landlord shall have no liability to Tenant, and Tenant shall
not be entitled to terminate this Lease if such repairs and restoration are not in fact completed within the time period estimated by
Landlord so long as Landlord shall proceed with reasonable diligence to complete such repairs and restoration.

 

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(c)            Tenant
acknowledges that Landlord shall be entitled to the full proceeds of any insurance coverage, whether carried by Landlord or Tenant, for
damages to the Premises, except for those proceeds of Tenant’s insurance for its own personal property and equipment which would
be removable by Tenant at the Termination Date. All such insurance proceeds shall be payable to Landlord whether or not the Premises are
to be repaired and restored; provided, however, if this Lease is not terminated and the parties proceed to repair and restore Tenant Additions
at Tenant’s cost, to the extent Landlord received proceeds of Tenant’s insurance covering Tenant Additions, such proceeds
shall be applied to reimburse Tenant for its cost of repairing and restoring Tenant Additions.

 

(d)            Notwithstanding
anything to the contrary herein set forth: (i) Landlord shall have no duty pursuant to this Section to repair or restore any
portion of any Tenant Additions or to expend for any repair or restoration of the Premises or Building in amounts in excess of insurance
proceeds paid to Landlord and available for repair or restoration; and (ii) Tenant shall not have the right to terminate this Lease
pursuant to this Section if any damage or destruction was caused by the act or neglect of Tenant, its agent or employees. Whether
or not this Lease is terminated pursuant to this Article 14, in no event shall Tenant be entitled to any compensation or damages
for loss of the use of the whole or any part of the Premises or for any inconvenience or annoyance occasioned by any such damage, destruction,
rebuilding or restoration of the Premises or the Building or access thereto.

 

(e)            Any
repair or restoration of the Premises performed by Tenant shall be in accordance with the provisions of Article 9 hereof.

 

14.2         INSUBSTANTIAL
UNTENANTABILITY

 

If the Premises or the Building
is damaged by a casualty but neither is rendered substantially untenantable and Landlord estimates that the time to substantially complete
the repair or restoration will not exceed three hundred sixty-five (365) days from the date such damage occurred, then Landlord shall
proceed to repair and restore the Building or the Premises other than Tenant Additions, with reasonable promptness, unless such damage
is to the Premises and occurs during the last six (6) months of the Term, in which event either Tenant or Landlord shall have the
right to terminate this Lease as of the date of such casualty by giving written notice thereof to the other within twenty (20) days after
the date of such casualty. Notwithstanding the aforesaid, Landlord’s obligation to repair shall be limited in accordance with the
provisions of Section 14.1 above.

 

14.3         RENT
ABATEMENT

 

Except for the negligence
or willful act of Tenant or its agents, employees, contractors or invitees, if all or any part of the Premises are rendered untenantable
by fire or other casualty and this Lease is not terminated, Monthly Base Rent and Rent Adjustments shall abate for that part of the Premises
which is untenantable on a per diem basis from the date of the casualty until Landlord has Substantially Completed the repair and restoration
work in the Premises which it is required to perform, provided, that as a result of such casualty, Tenant does not occupy the portion
of the Premises which is untenantable during such period.

 

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14.4         WAIVER
OF STATUTORY REMEDIES

 

The provisions of this Lease,
including this Article 14, constitute an express agreement between Landlord and Tenant with respect to any and all damage to, or
destruction of, the Premises or the Property or any part of either, and any Law, including Sections 1932(2), 1933(4), 1941 and 1942 of
the California Civil Code, with respect to any rights or obligations concerning damage or destruction shall have no application to this
Lease or to any damage to or destruction of all or any part of the Premises or the Property or any part of either, and are hereby waived.

 

Article 15

EMINENT DOMAIN

 

15.1         TAKING
OF WHOLE OR SUBSTANTIAL PART

 

In the event the whole or
any substantial part of the Building or of the Premises is taken or condemned by any competent authority for any public use or purpose
(including a deed given in lieu of condemnation) and is thereby rendered untenantable, this Lease shall terminate as of the date title
vests in such authority, and Monthly Base Rent and Rent Adjustments shall be apportioned as of the Termination Date. Notwithstanding anything
to the contrary herein set forth, in the event the taking is temporary (for less than the remaining Term of this Lease), Landlord may
elect either (i) to terminate this Lease or (ii) permit Tenant to receive the entire award attributable to the Premises in which
case Tenant shall continue to pay Rent and this Lease shall not terminate.

 

15.2        TAKING
OF PART

 

In the event a part of the
Building or the Premises is taken or condemned by any competent authority (or a deed is delivered in lieu of condemnation) and this Lease
is not terminated, this Lease shall be amended to reduce or increase, as the case may be, the Monthly Base Rent and Tenant’s Share
to reflect the Rentable Area of the Premises or Building, as the case may be, remaining after any such taking or condemnation. Landlord,
upon receipt and to the extent of the award in condemnation (or proceeds of sale) shall make necessary repairs and restorations to the
Premises (exclusive of Tenant Additions) and to the Building to the extent necessary to constitute the portion of the Building not so
taken or condemned as a complete architectural and economically efficient unit. Notwithstanding the foregoing, if as a result of any taking,
or a governmental order that the grade of any street or alley adjacent to the Building is to be changed and such taking or change of grade
makes it necessary or desirable to substantially remodel or restore the Building or prevents the economical operation of the Building,
Landlord shall have the right to terminate this Lease upon ninety (90) days prior written notice to Tenant.

 

15.3         COMPENSATION

 

Landlord shall be entitled
to receive the entire award (or sale proceeds) from any such taking, condemnation or sale without any payment to Tenant, and Tenant hereby
assigns to Landlord, Tenant’s interest, if any, in such award; provided, however, Tenant shall have the right separately to pursue
against the condemning authority a separate award in respect of the loss, if any, to Tenant Additions paid for by Tenant without any credit
or allowance from Landlord so long as there is no diminution of Landlord’s award as a result.

 

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Article 16

INSURANCE

 

16.1         TENANT’S
INSURANCE

 

Tenant, at Tenant’s
expense, agrees to maintain in force, with a company or companies acceptable to Landlord, during the Term: (a) Commercial General
Liability Insurance on a primary basis and without any right of contribution from any insurance carried by Landlord covering the Premises
on an occurrence basis against all claims for personal injury, bodily injury, death and property damage, including contractual liability
covering the indemnification provisions in this Lease, and such insurance shall be for such limits that are reasonably required by Landlord
from time to time but not less than a combined single limit (each occurrence and in the aggregate) of Five Million and No/100 Dollars
($5,000,000.00) (which limit may be achieved through use of umbrella coverage); (b) Workers’ Compensation and Employers’
Liability Insurance to the extent required by and in accordance with the Laws of the State of California; (c) “All Risks”
property insurance in an amount adequate to cover the full replacement cost of all Tenant Additions, equipment, installations, fixtures
and contents of the Premises in the event of loss from water damage, earthquake sprinkler leakage, and such other risks as Landlord may
designate from time to time; (d) in the event a motor vehicle is to be used by Tenant in connection with its business operation from
the Premises, Comprehensive Automobile Liability Insurance coverage with limits of not less than One Million and No/100 Dollars ($1,000,000.00)
combined single limit coverage against bodily injury liability and property damage liability arising out of the use by or on behalf of
Tenant, its agents and employees in connection with this Lease, of any owned, non-owned or hired motor vehicles; and (e) such other
insurance or coverages as Landlord reasonably requires.

 

16.2         FORM OF
POLICIES

 

Each policy referred to
in Section 16.1 shall satisfy the following requirements: (i) the Commercial General Liability policy shall name Landlord
and the Indemnitees as additional insureds, (ii) the “All-Risks” property insurance policy shall name Landlord and
the Indemnitees as loss payees, (iii) each policy shall be issued by one or more responsible insurance companies licensed to do
business in the State of California reasonably satisfactory to Landlord, (iv) where applicable, each policy shall provide for
deductible amounts satisfactory to Landlord and not permit co-insurance, and (v) each policy of “All-Risks”
property insurance shall provide that the policy shall not be invalidated should the insured waive in writing prior to a loss, any
or all rights of recovery against any other party for losses covered by such policies. Tenant shall deliver to Landlord,
certificates of insurance (and at Landlord’s request, copies of all policies and renewals thereof to be maintained by Tenant
hereunder), prior to Tenant’s entry into the Premises and prior to the expiration date of each policy. Additionally, Tenant
shall provide Landlord written notice of any cancellation or amendment of any such insurance within two (2) business days
following Tenant’s knowledge of the same. If Tenant fails to carry the insurance required under this Article 16 or fails
to provide certificates of renewal as and when required hereunder, Landlord may, but shall not be obligated to acquire such
insurance on Tenant’s behalf or Tenant’s sole cost and expense.

 

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16.3         LANDLORD’S
INSURANCE

 

Landlord agrees to purchase
and keep in full force and effect during the Term hereof, including any extensions or renewals thereof, insurance under policies issued
by insurers of recognized responsibility, qualified to do business in the State of California on the Building in amounts sufficient to
cover 80% of the replacement cost thereof, insuring against fire and such other risks as may be included in standard forms of all risk
coverage insurance reasonably available from time to time (which requirement may be achieved through use of a single insurance policy
covering multiple buildings owned by Landlord and affiliates of Landlord). Landlord agrees to maintain in force during the Term, Commercial
General Liability Insurance covering the Building on an occurrence basis against all claims for personal injury, bodily injury, death,
and property damage. Such insurance shall be for a combined single limit (each occurrence and in the aggregate) of not less than Five
Million and No/100 Dollars ($5,000,000.00) (which limit may be achieved through use of umbrella coverage). Neither Landlord’s obligation
to carry such insurance nor the carrying of such insurance shall be deemed to be an indemnity by Landlord with respect to any claim, liability,
loss, cost or expense due, in whole or in part, to Tenant’s negligent acts or omissions or willful misconduct. Without obligation
to do so, Landlord may, in its sole discretion from time to time, carry insurance in amounts greater and/or for coverage additional to
the coverage and amounts set forth above.

 

16.4         WAIVER
OF SUBROGATION

 

(a)            Landlord
agrees that, if obtainable at no, or minimal, additional cost, and so long as the same is permitted under the laws of the State of California,
it will include in its “All Risks” policies appropriate clauses pursuant to which the insurance companies (i) waive all
right of subrogation against Tenant with respect to losses payable under such policies and/or (ii) agree that such policies shall
not be invalidated should the insured waive in writing prior to a loss any or all right of recovery against any party for losses covered
by such policies.

 

(b)           Tenant
agrees to include, if obtainable at no, or minimal, additional cost, and so long as the same is permitted under the laws of the State
of California, in its “All Risks” insurance policy or policies on Tenant Additions, whether or not removable, and on Tenant’s
furniture, furnishings, fixtures and other property removable by Tenant under the provisions of this Lease, appropriate clauses pursuant
to which the insurance company or companies (i) waive the right of subrogation against Landlord and/or any tenant of space in the
Building with respect to losses payable under such policy or policies and/or (ii) agree that such policy or policies shall not be
invalidated should the insured waive in writing prior to a loss any or all right of recovery against any party for losses covered by such
policy or policies. If Tenant is unable to obtain in such policy or policies either of the clauses described in the preceding sentence,
Tenant shall, if legally possible and without necessitating a change in insurance carriers, have Landlord named in such policy or policies
as an additional insured. If Landlord shall be named as an additional insured in accordance with the foregoing, Landlord agrees to endorse
promptly to the order of Tenant, without recourse, any check, draft, or order for the payment of money representing the proceeds of any
such policy or representing any other payment growing out of or connected with said policies, and Landlord does hereby irrevocably waive
any and all rights in and to such proceeds and payments.

 

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(c)           Provided
that Landlord’s right of full recovery under its policy or policies aforesaid is not adversely affected or prejudiced thereby,
Landlord hereby waives any and all right of recovery which it might otherwise have against Tenant, its servants, agents and
employees, for loss or damage occurring to the Real Property and the fixtures, appurtenances and equipment therein, to the extent
the same is covered by Landlord’s insurance, notwithstanding that such loss or damage may result from the negligence or fault
of Tenant, its servants, agents or employees. Provided that Tenant’s right of full recovery under its aforesaid policy or
policies is not adversely affected or prejudiced thereby, Tenant hereby waives any and all right of recovery which it might
otherwise have against Landlord, its servants, and employees and against every other tenant of the Real Property who shall have
executed a similar waiver as set forth in this Section 16.4(c) for loss or damage to Tenant Additions, whether or not
removable, and to Tenant’s furniture, furnishings, fixtures and other property removable by Tenant under the provisions hereof
to the extent the same is coverable by Tenant’s insurance required under this Lease, notwithstanding that such loss or damage
may result from the negligence or fault of Landlord, its servants, agents or employees, or such other tenant and the servants,
agents or employees thereof.

 

(d)            Landlord
and Tenant hereby agree to advise the other promptly if the clauses to be included in their respective insurance policies pursuant to
subparagraphs (a) and (b) above cannot be obtained on the terms hereinbefore provided. Landlord and Tenant hereby also agree
to notify the other promptly of any cancellation or change of the terms of any such policy that would affect such clauses.

 

16.5         NOTICE
OF CASUALTY

 

Tenant shall give Landlord
notice in case of a fire or accident in the Premises promptly after Tenant is aware of such event.

 

Article 17

WAIVER OF CLAIMS AND INDEMNITY

 

17.1         WAIVER
OF CLAIMS

 

To the extent permitted by
Law, Tenant hereby releases the Indemnitees from, and waives all claims for, damage to person or property sustained by Tenant or any occupant
of the Premises or the Property resulting directly or indirectly from any existing or future condition, defect, matter or thing in and
about the Premises or the Property or any part of either or any equipment or appurtenance therein, or resulting from any accident in or
about the Premises or the Property, or resulting directly or indirectly from any act or neglect of any tenant or occupant of the Property
or of any other person, including Landlord’s agents and servants, except to the extent caused by the gross negligence or willful
and wrongful act of any of the Indemnitees. To the extent permitted by Law, Tenant hereby waives any consequential damages, compensation
or claims for inconvenience or loss of business, rents, or profits as a result of such injury or damage, whether or not caused by the
gross negligence or willful and wrongful act of any of the Indemnitees. If any such damage, whether to the Premises or the Property or
any part of either, or whether to Landlord or to other tenants in the Property, results from any act or neglect of Tenant, its employees,
servants, agents, contractors, invitees or customers, Tenant shall be liable therefor and Landlord may, at Landlord’s option, repair
such damage and Tenant shall, upon demand by Landlord, as payment of additional Rent hereunder, reimburse Landlord within ten (10) days
after demand for the total cost of such repairs, in excess of amounts, if any, paid to Landlord under insurance covering such damages.
Tenant shall not be liable for any such damage caused by its acts or neglect if Landlord or a tenant has recovered the full amount of
the damage from proceeds of insurance policies and the insurance company has waived its right of subrogation against Tenant.

 

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17.2         INDEMNITY

 

To the extent permitted by
Law, Tenant hereby indemnifies, and agrees to protect, defend and hold the Indemnitees harmless, against any and all actions, claims,
demands, liability, costs and expenses, including attorneys’ fees and expenses for the defense thereof, arising from Tenant’s
occupancy of the Premises, from the undertaking of any Tenant Additions or repairs to the Premises, from the conduct of Tenant’s
business on the Premises, or from any breach or default on the part of Tenant in the performance of any covenant or agreement on the part
of Tenant to be performed pursuant to the terms of this Lease, or from any willful act or negligence of Tenant, its agents, contractors,
servants, employees, customers or invitees, in or about the Premises or the Property or any part of either. In case of any action or proceeding
brought against the Indemnitees by reason of any such claim, upon notice from Landlord, Tenant covenants to defend such action or proceeding
by counsel chosen by Landlord, in Landlord’s sole discretion. Landlord reserves the right to settle, compromise or dispose of any
and all actions, claims and demands related to the foregoing indemnity. The foregoing indemnity shall not operate to relieve Indemnitees
of liability to the extent such liability is caused by the willful and wrongful act of Indemnitees. Further, the foregoing indemnity is
subject to and shall not diminish any waivers in effect in accordance with Section 16.4 by Landlord or its insurers to the extent
of amounts, if any, paid to Landlord under its “All Risks” property insurance. This Article 17 shall survive the expiration
or earlier termination of this Lease.

 

17.3         WAIVER
OF CONSEQUENTIAL DAMAGES

 

To the extent permitted by
law, Tenant hereby waives and releases the Indemnitees from any consequential damages, compensation or claims for inconvenience or loss
of business, rents or profits as a result of any injury or damage, whether or not caused by the willful and wrongful act of any of the
Indemnitees.

 

Article 18

RULES AND REGULATIONS

 

18.1         RULES

 

Tenant agrees for itself and
for its subtenants, employees, agents, and invitees to comply with the rules and regulations listed on Exhibit C-2 attached
hereto and with all reasonable modifications and additions thereto which Landlord may make from time to time.

 

18.2         ENFORCEMENT

 

Nothing in this Lease shall
be construed to impose upon Landlord any duty or obligation to enforce the rules and regulations as set forth on Exhibit C-2
or as hereafter adopted, or the terms, covenants or conditions of any other lease as against any other tenant, and Landlord shall not
be liable to Tenant for violation of the same by any other tenant, its servants, employees, agents, visitors or licensees. Landlord shall
use reasonable efforts to enforce the rules and regulations of the Project in a uniform and non-discriminatory manner.

 

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Article 19

LANDLORD’S RESERVED RIGHTS

 

Landlord shall have the following
rights exercisable without notice to Tenant and without liability to Tenant for damage or injury to persons, property or business and
without being deemed an eviction or disturbance of Tenant’s use or possession of the Premises or giving rise to any claim for offset
or abatement of Rent: (1) to change the Building’s name or street address upon thirty (30) days’ prior written notice
to Tenant; (2) to install, affix and maintain all signs on the exterior and/or interior of the Building; (3) to designate and/or
approve prior to installation, all types of signs, window shades, blinds, drapes, awnings or other similar items, and all internal lighting
that may be visible from the exterior of the Premises; (4) upon reasonable notice to Tenant, to display the Premises to prospective
purchasers and lenders at reasonable hours at any time during the Term and to prospective tenants at reasonable hours during the last
twelve (12) months of the Term; (5) to grant to any party the exclusive right to conduct any business or render any service in or
to the Building, provided such exclusive right shall not operate to prohibit Tenant from using the Premises for the purpose permitted
hereunder; (6) to change the arrangement and/or location of entrances or passageways, doors and doorways, corridors, elevators, stairs,
washrooms or public portions of the Building, and to close entrances, doors, corridors, elevators or other facilities, provided that such
action shall not materially and adversely interfere with Tenant’s access to the Premises or the Building; (7) to have access
for Landlord and other tenants of the Building to any mail chutes and boxes located in or on the Premises as required by any applicable
rules of the United States Post Office; and (8) to close the Building after Standard Operating Hours, except that Tenant and
its employees and invitees shall be entitled to admission at all times, under such regulations as Landlord prescribes for security purposes.

 

Article 20

ESTOPPEL CERTIFICATE

 

20.1         IN
GENERAL

 

Within ten (10) days
after request therefor by Landlord, Mortgagee or any prospective mortgagee or owner, Tenant agrees as directed in such request to execute
the proposed form of estoppel certificate (an “Estoppel Certificate”) (which may require that such instrument be notarized),
binding upon Tenant, certifying (i) that this Lease is unmodified and in full force and effect (or if there have been modifications,
a description of such modifications and that this Lease as modified is in full force and effect); (ii) the dates to which Rent has
been paid; (iii) that Tenant is in the possession of the Premises if that is the case; (iv) that Landlord is not in default
under this Lease, or, if Tenant believes Landlord is in default, the nature thereof in detail; (v) that Tenant has no offsets or
defenses to the performance of its obligations under this Lease (or if Tenant believes there are any offsets or defenses, a full and complete
explanation thereof); (vi) that the Premises have been completed in accordance with the terms and provisions hereof or the Workletter,
that Tenant has accepted the Premises and the condition thereof and of all improvements thereto and has no claims against Landlord or
any other party with respect thereto; (vii) that if an assignment of rents or leases has been served upon Tenant by a Mortgagee,
Tenant will acknowledge receipt thereof and agree to be bound by the provisions thereof; (viii) that Tenant will give to the Mortgagee
copies of all notices required or permitted to be given by Tenant to Landlord; and (ix) to any other information reasonably requested.

 

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20.2         ENFORCEMENT

 

In the event that Tenant
fails to timely deliver an Estoppel Certificate, then such failure shall be a Default for which there shall be no cure or grace
period. In addition to any other remedy available to Landlord, Landlord may impose a charge equal to $500.00 for each day that
Tenant fails to deliver an Estoppel Certificate; and (i) Tenant shall be bound to, and deemed to have irrevocably agreed to,
the accuracy and truthfulness of the Estoppel Certificate delivered to Tenant, and (ii) Landlord, and any third party receiving
such form of Estoppel Certificate, including a Mortgagee or purchaser, may rely upon the accuracy and truthfulness thereof.

 

Article 21

RELOCATION OF TENANT

 

[Intentionally omitted.]

 

Article 22

REAL ESTATE BROKERS

 

Tenant represents that, except
for the broker(s) listed in Section 1.1, Tenant has not dealt with any real estate broker, sales person, or finder in connection
with this Lease, and no such person initiated or participated in the negotiation of this Lease, or showed the Premises to Tenant. Tenant
hereby agrees to indemnify, protect, defend and hold Landlord and the Indemnitees, harmless from and against any and all liabilities and
claims for commissions and fees arising out of a breach of the foregoing representation, as well as from any claim or claims for any commission
or fee by any broker or other party claiming to represent Tenant in connection with any future extensions or renewals of the Term. Landlord
agrees to pay any commission to which the brokers listed in Section 1.1 are entitled in connection with this Lease pursuant to Landlord’s
written agreement with such broker.

 

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Article 23

MORTGAGEE PROTECTION

 

23.1         SUBORDINATION
AND ATTORNMENT

 

This Lease is and shall be
expressly subject and subordinate at all times to (i) any ground or underlying lease of the Real Property, now or hereafter existing,
and all amendments, extensions, renewals and modifications to any such lease, and (ii) the lien of any mortgage or trust deed now
or hereafter encumbering fee title to the Real Property and/or the leasehold estate under any such lease, and all amendments, extensions,
renewals, replacements and modifications of such mortgage or trust deed and/or the obligation secured thereby, unless such ground lease
or ground lessor, or mortgage, trust deed or Mortgagee, expressly provides or elects that this Lease shall be superior to such lease or
mortgage or trust deed. If any such mortgage or trust deed is foreclosed (including any sale of the Real Property pursuant to a power
of sale), or if any such lease is terminated, upon request of the Mortgagee or ground lessor, as the case may be, Tenant shall attorn
to the purchaser at the foreclosure sale or to the ground lessor under such lease, as the case may be, provided, however, that such purchaser
or ground lessor shall not be (i) bound by any payment of Rent for more than one month in advance except payments in the nature of
security for the performance by Tenant of its obligations under this Lease; (ii) subject to any offset, defense or damages arising
out of a default of any obligations of any preceding Landlord; or (iii) bound by any amendment or modification of this Lease made
without the written consent of the Mortgagee or ground lessor; or (iv) liable for any security deposits not actually received in
cash by such purchaser or ground lessor. This subordination shall be self-operative and no further certificate or instrument of subordination
need be required by any such Mortgagee or ground lessor. In confirmation of such subordination, however, Tenant shall execute promptly
any reasonable certificate or instrument that Landlord, Mortgagee or ground lessor may request. Tenant hereby constitutes Landlord as
Tenant’s attorney-in-fact to execute such certificate or instrument for and on behalf of Tenant upon Tenant’s failure to do
so within fifteen (15) days after a request to do so. Upon request by such successor in interest, Tenant shall execute and deliver reasonable
instruments confirming the attornment provided for herein. The terms of this paragraph shall survive any termination of this Lease by
reason of foreclosure.

 

23.2         MORTGAGEE
PROTECTION

 

Tenant agrees to give
any Mortgagee or ground lessor, by registered or certified mail, a copy of any notice of default served upon Landlord by Tenant,
provided that prior to such notice Tenant has received notice (by way of service on Tenant of a copy of an assignment of rents and
leases, or otherwise) of the address of such Mortgagee or ground lessor. Tenant further agrees that if Landlord shall have failed to
cure such default within the time provided for in this Lease, then the Mortgagee or ground lessor shall have an additional thirty
(30) days after receipt of notice thereof within which to cure such default or if such default cannot be cured within that time,
then such additional notice time as may be necessary, if, within such thirty (30) days, any Mortgagee or ground lessor has commenced
and is diligently pursuing the remedies necessary to cure such default (including commencement of foreclosure proceedings or other
proceedings to acquire possession of the Real Property, if necessary to effect such cure). Such period of time shall be extended by
any period within which such Mortgagee or ground lessor is prevented from commencing or pursuing such foreclosure proceedings or
other proceedings to acquire possession of the Real Property by reason of Landlord’s bankruptcy. Until the time allowed as
aforesaid for Mortgagee or ground lessor to cure such defaults has expired without cure, Tenant shall have no right to, and shall
not, terminate this Lease on account of default. This Lease may not be modified or amended so as to reduce the Rent or shorten the
Term, or so as to adversely affect in any other respect to any material extent the rights of Landlord, nor shall this Lease be
canceled or surrendered, without the prior written consent, in each instance, of the ground lessor or the Mortgagee.

 

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Article 24

NOTICES

 

(a)            All
notices, demands or requests provided for or permitted to be given pursuant to this Lease must be in writing and shall be personally delivered,
sent by Federal Express or other reputable overnight courier service, or mailed by first class, registered or certified United States
mail, return receipt requested, postage prepaid.

 

(b)            All
notices, demands or requests to be sent pursuant to this Lease shall be deemed to have been properly given or served by delivering or
sending the same in accordance with this Section, addressed to the parties hereto at their respective addresses listed in Section 1.1.

 

(c)            Notices,
demands or requests sent by mail or overnight courier service as described above shall be effective upon deposit in the mail or with such
courier service. However, except with respect to a notice given under Code of Civil Procedure Section 1161 et seq., the time period
in which a response to any such notice, demand or request must be given shall commence to run from (i) in the case of delivery by
mail, the date of receipt on the return receipt of the notice, demand or request by the addressee thereof, or (ii) in the case of
delivery by Federal Express or other overnight courier service, the date of acceptance of delivery by an employee, officer, director or
partner of Landlord or Tenant. Rejection or other refusal to accept or the inability to deliver because of changed address of which no
notice was given, as indicated by advice from Federal Express or other overnight courier service or by mail return receipt, shall be deemed
to be receipt of notice, demand or request sent. Notices may also be served by personal service upon any officer, director or partner
of Landlord or Tenant, and shall be effective upon such service.

 

(d)            By
giving to the other party at least thirty (30) days written notice thereof, either party shall have the right from time to time during
the term of this Lease to change their respective addresses for notices, statements, demands and requests, provided such new address shall
be within the United States of America.

 

Article 25

FURNITURE, FIXTURES AND EQUIPMENT

 

During
the Term, at no charge to Tenant, Tenant shall be permitted to use the existing office and laboratory furniture, fixtures and
equipment located in the Phase I or Phase II Premises (as applicable) as of the Phase I or Phase II Commencement Date (as
applicable), and as described in more particular detail in Exhibit E attached hereto (the “FF&E”).
Tenant shall accept the FF&E in its current “AS-IS” condition and “WITH ALL FAULTS”. Landlord
specifically disclaims all express or implied warranties regarding the existence or condition of, such FF&E, including without
limitation the implied warranties of merchantability and suitability for a particular purpose. For purposes of documenting the
current condition of the FF&E, Tenant and Landlord shall, prior to the Phase I Commencement Date, as to the Phase I Premises,
and prior to the Phase II Commencement Date, as to the Phase II Premises, conduct a joint walk-through of the Premises in order to
inventory items of damage or disrepair in the FF&E. No item of the FF&E shall be removed from the Premises without
Landlord’s prior written consent; provided, however, not more than once during the Term, Tenant may request in writing that
Landlord remove certain portions of the original FF&E, upon which removal the remaining FF&E shall be considered the
 “FF&E” under this Lease. Landlord and Tenant may enter into a reasonable form of letter agreement or other
documentation evidencing such remaining FF&E. In addition, not withstanding anything herein to the contrary, Tenant may elect,
via a written notice delivered to Landlord not later than sixty (60) days following the Phase II Commencement Date, to offer to
purchase all or a portion of the remaining FF&E (the “Proposed Purchased FF&E”), and if Landlord and Tenant
agree upon the price for such Proposed Purchased FF&E, then following any such purchase, any portion of the Proposed Purchased
FF&E that is actually purchased by Tenant shall be referred to in this Article 25 as the “Purchased FF&E”,
and Tenant will have no remaining obligations to Landlord to manage, repair or replace any portion of the Purchased FF&E. Upon
such agreement, the parties shall enter into a commercially reasonable bill of sale for such Purchased FF&E, and Landlord shall
assign, transfer and convey to Tenant all of Landlord’s right, title and interest in and to the Purchased FF&E on an
 “as is, where is” basis. Landlord represents and warrants that it has the legal right and ownership to the FF&E and
has the legal ability to transfer the ownership thereof to Tenant. Tenant shall use the FF&E only for the purposes for which
such FF&E is intended and, subject to the terms of this Article 25 with respect to Purchased FF&E, if Tenant does not
elect to purchase all of the FF&E pursuant to this Article 25, then Tenant shall be responsible for the proper maintenance,
care and repair of the remaining unpurchased FF&E (the “Unpurchased FF&E”), at Tenant’s sole cost and
expense. On or about the date of expiration of the Term, provided that Tenant did not exercise its right to acquire all of the
FF&E, the parties shall once again conduct a walk-through of the Premises to catalog any items of damage, disrepair, misuse or
loss among the Unpurchased FF&E (reasonable wear and tear excepted), and Tenant shall be responsible, at Tenant’s sole
cost and expense, for curing any such items (including, with respect to loss, replacing any lost item with a substantially similar
new item reasonably acceptable to Landlord). If Tenant does not elect to purchase all of the FF&E pursuant to this
Article 25, then Tenant shall not modify, reconfigure or relocate any of the Unpurchased FF&E except with the advanced
written permission of Landlord, and any work of modifying any of the Unpurchased FF&E (including, without limitation, changing
the configuration of, “breaking down” or reassembly of cubicles or other modular furniture, if any) shall be performed
at Tenant’s sole cost using Landlord’s specified vendors or an alternate vendor approved in writing by Landlord (such
approval to be granted or withheld on Landlord’s good faith discretion, based upon Landlord’s assessment of factors
which include, without limitation, whether the performance by such vendor will void applicable warranties for such furniture and
whether such vendor is sufficiently experienced in the design of such furniture). If Tenant does elect to purchase any of the
FF&E, then Tenant shall remove the Purchased FF&E upon the expiration or earlier termination of the Term in accordance with
Article 12 above. Notwithstanding anything herein to the contrary, in no event shall Tenant have any duty or obligation to
replace any Unpurchased FF&E that does not have a useful life extending beyond the Term.

 

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Article 26

MISCELLANEOUS

 

26.1         LATE
CHARGES

 

(a)            All
payments required hereunder (other than the Monthly Base Rent, Rent Adjustments, and Rent Adjustment Deposits, which shall be due as hereinbefore
provided) to Landlord shall be paid within ten (10) business days after Landlord’s demand therefor. All such amounts (including
Monthly Base Rent, Rent Adjustments, and Rent Adjustment Deposits) not paid when due shall bear interest from the date due until the date
paid at the Default Rate in effect on the date such payment was due.

 

(b)            In
the event Tenant is more than five (5) business days late in paying any installment of Rent due under this Lease, Tenant shall pay
Landlord a late charge equal to five percent (5%) of the delinquent installment of Rent. The parties agree that (i) such delinquency
will cause Landlord to incur costs and expenses not contemplated herein, the exact amount of which will be difficult to calculate, including
the cost and expense that will be incurred by Landlord in processing each delinquent payment of rent by Tenant, (ii) the amount of
such late charge represents a reasonable estimate of such costs and expenses and that such late charge shall be paid to Landlord for each
delinquent payment in addition to all Rent otherwise due hereunder. The parties further agree that the payment of late charges and the
payment of interest provided for in subparagraph (a) above are distinct and separate from one another in that the payment of interest
is to compensate Landlord for its inability to use the money improperly withheld by Tenant, while the payment of late charges is to compensate
Landlord for its additional administrative expenses in handling and processing delinquent payments.

 

(c)            Payment
of interest at the Default Rate and/or of late charges shall not excuse or cure any default by Tenant under this Lease, nor shall the
foregoing provisions of this Article or any such payments prevent Landlord from exercising any right or remedy available to Landlord
upon Tenant’s failure to pay Rent when due, including the right to terminate this Lease.

 

26.2         NO
JURY TRIAL; VENUE; JURISDICTION

 

To the fullest extent permitted
by Laws, each party hereto (which includes any assignee, successor, heir or personal representative of a party) shall not seek a jury
trial, hereby waives trial by jury, and hereby further waives any objection to venue in the County in which the Project is located, and
agrees and consents to personal jurisdiction of the courts of the State of California, in any action or proceeding or counterclaim brought
by any party hereto against the other on any matter whatsoever arising out of or in any way connected with this Lease, the relationship
of Landlord and Tenant, Tenant’s use or occupancy of the Premises, or any claim of injury or damage, or the enforcement of any remedy
under any statute, emergency or otherwise, whether any of the foregoing is based on this Lease or on tort law. No party will seek to consolidate
any such action in which a jury has been waived with any other action in which a jury trial cannot or has not been waived. It is the intention
of the parties that these provisions shall be subject to no exceptions. The provisions of this Section shall survive the expiration
or earlier termination of this Lease.

 

26.3         NO
DISCRIMINATION

 

Tenant agrees for Tenant
and Tenant’s heirs, executors, administrators, successors and assigns and all persons claiming under or through Tenant, and
this Lease is made and accepted upon and subject to the following conditions: that there shall be no discrimination against or
segregation of any person or group of persons on account of race, color, creed, religion, sex, marital status, national origin or
ancestry (whether in the leasing, subleasing, transferring, use, occupancy, tenure or enjoyment of the Premises or otherwise) nor
shall Tenant or any person claiming under or through Tenant establish or permit any such practice or practices of discrimination or
segregation with reference to the use or occupancy of the Premises by Tenant or any person claiming through or under Tenant.

 

26.4         FINANCIAL
STATEMENTS

 

Within ten (10) days
after written request from Landlord from time to time during the Term, Tenant shall provide Landlord with current financial statements
setting forth Tenant’s financial condition and net worth for the most recent quarter, including balance sheets and statements of
profits and losses. Such statements shall be prepared by an independent accountant and certified by Tenant’s president, chief executive
officer or chief financial officer. Landlord shall keep such financial information confidential and shall only disclose such information
to Landlord’s lenders, consultants, purchasers or investors, or other agents (who shall be subject to the same confidentiality obligations)
on a need to know basis in connection with the administration of this Lease.

 

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26.5         OPTION

 

This Lease shall not become
effective as a lease or otherwise until executed and delivered by both Landlord and Tenant. The submission of this Lease to Tenant does
not constitute a reservation of or option for the Premises, but when executed by Tenant and delivered to Landlord, this Lease shall constitute
an irrevocable offer by Tenant in effect for fifteen (15) days to lease the Premises on the terms and conditions herein contained.

 

26.6         TENANT
AUTHORITY

 

Tenant represents and warrants
to Landlord that it has full authority and power to enter into and perform its obligations under this Lease, that the person executing
this Lease is fully empowered to do so, and that no consent or authorization is necessary from any third party. Landlord may request that
Tenant provide Landlord evidence of Tenant’s authority.

 

26.7         ENTIRE
AGREEMENT

 

This Lease, the Exhibits,
and Riders attached hereto contain the entire agreement between Landlord and Tenant concerning the Premises and there are no other agreements,
either oral or written, and no other representations or statements, either oral or written, on which Tenant has relied. This Lease shall
not be modified except by a writing executed by Landlord and Tenant.

 

26.8         MODIFICATION
OF LEASE FOR BENEFIT OF MORTGAGEE

 

If Mortgagee of Landlord requires
a modification of this Lease which shall not result in any increased cost or expense to Tenant or in any other substantial and adverse
change in the rights and obligations of Tenant hereunder, then Tenant agrees that this Lease may be so modified.

 

26.9         EXCULPATION

 

Tenant agrees, on its behalf
and on behalf of its successors and assigns, that any liability or obligation under this Lease shall only be enforced against Landlord’s
equity interest in the Property up to a maximum of Five Million Dollars ($5,000,000.00) and in no event against any other assets of Landlord,
or Landlord’s members, officers, directors or partners, and that any liability of Landlord with respect to this Lease shall be so
limited and Tenant shall not be entitled to any judgment in excess of such amount. Notwithstanding anything to the contrary contained
herein, in no event shall Landlord be liable to Tenant for consequential, punitive or special damages with respect to this Lease.

 

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26.10       ACCORD
AND SATISFACTION

 

No payment by Tenant or
receipt by Landlord of a lesser amount than any installment or payment of Rent due shall be deemed to be other than on account of
the amount due, and no endorsement or statement on any check or any letter accompanying any check or payment of Rent shall be deemed
an accord and satisfaction, and Landlord may accept such check or payment without prejudice to Landlord’s right to recover the
balance of such installment or payment of Rent or pursue any other remedies available to Landlord. No receipt of money by Landlord
from Tenant after the termination of this Lease or Tenant’s right of possession of the Premises shall reinstate, continue or
extend the Term. Receipt or acceptance of payment from anyone other than Tenant, including an assignee of Tenant, is not a waiver of
any breach of Article 10, and Landlord may accept such payment on account of the amount due without prejudice to
Landlord’s right to pursue any remedies available to Landlord.

  

26.11        LANDLORD’S
OBLIGATIONS ON SALE OF BUILDING

 

In the event of any sale or
other transfer of the Building, Landlord shall be entirely freed and relieved of all agreements and obligations of Landlord hereunder
accruing or to be performed after the date of such sale or transfer, and any remaining liability of Landlord with respect to this Lease
shall be limited to the dollar amount specified in Section 25.9 and Tenant shall not be entitled to any judgment in excess of such
amount. Landlord shall have the right to assign this Lease to an entity comprised of the principals of Landlord or any Landlord Affiliate.
Upon such assignment and assumption of the obligations of Landlord hereunder, Landlord shall be entirely freed and relieved of all obligations
hereunder.

 

26.12        BINDING
EFFECT

 

Subject to the provisions
of Article 10, this Lease shall be binding upon and inure to the benefit of Landlord and Tenant and their respective heirs, legal
representatives, successors and permitted assigns.

 

26.13        CAPTIONS

 

The Article and Section captions
in this Lease are inserted only as a matter of convenience and in no way define, limit, construe, or describe the scope or intent of such
Articles and Sections.

 

26.14        TIME;
APPLICABLE LAW; CONSTRUCTION

 

Time is of the essence of
this Lease and each and all of its provisions. This Lease shall be construed in accordance with the Laws of the State of California. If
more than one person signs this Lease as Tenant, the obligations hereunder imposed shall be joint and several. If any term, covenant or
condition of this Lease or the application thereof to any person or circumstance shall, to any extent, be invalid or unenforceable, the
remainder of this Lease, or the application of such term, covenant or condition to persons or circumstances other than those as to which
it is held invalid or unenforceable, shall not be affected thereby and each item, covenant or condition of this Lease shall be valid and
be enforced to the fullest extent permitted by Law. Wherever the term “including” or “includes” is used in this
Lease, it shall have the same meaning as if followed by the phrase “but not limited to”. The language in all parts of this
Lease shall be construed according to its normal and usual meaning and not strictly for or against either Landlord or Tenant.

 

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26.15       ABANDONMENT

 

In the event Tenant vacates
or abandons the Premises but is otherwise in compliance with all the terms, covenants and conditions of this Lease, Landlord shall (i) have
the right to enter into the Premises in order to show the space to prospective tenants, (ii) have the right to reduce the services
provided to Tenant pursuant to the terms of this Lease to such levels as Landlord reasonably determines to be adequate services for an
unoccupied premises, and (iii) during the last six (6) months of the Term, have the right to prepare the Premises for occupancy
by another tenant upon the end of the Term. Tenant expressly acknowledges that in the absence of written notice pursuant to Section 11.2(b) or
pursuant to California Civil Code Section 1951.3 terminating Tenant’s right to possession, none of the foregoing acts of Landlord
or any other act of Landlord shall constitute a termination of Tenant’s right to possession or an acceptance of Tenant’s surrender
of the Premises, and this Lease shall continue in effect.

 

26.16        LANDLORD’S
RIGHT TO PERFORM TENANT’S DUTIES

 

If Tenant fails timely to
perform any of its duties under this Lease, Landlord shall have the right (but not the obligation), to perform such duty on behalf and
at the expense of Tenant without prior notice to Tenant, and all sums expended or expenses incurred by Landlord in performing such duty
shall be deemed to be additional Rent under this Lease and shall be due and payable upon demand by Landlord.

 

26.17       SECURITY
SYSTEM

 

Landlord, in its sole and
absolute discretion, shall install certain card key access and video camera systems respecting certain main entry points of the Building.
Subject to the foregoing, Landlord shall not be obligated to provide or maintain any security patrol or security system. Landlord shall
not be responsible for the quality of any such patrol or system which may be provided hereunder or for damage or injury to Tenant, its
employees, invitees or others due to the failure, action or inaction of such patrol or system.

 

26.18       NO
LIGHT, AIR OR VIEW EASEMENTS

 

Any diminution or shutting
off of light, air or view by any structure which may be erected on lands of or adjacent to the Project shall in no way affect this Lease
or impose any liability on Landlord.

 

26.19        RECORDATION

 

Neither this Lease, nor any
notice nor memorandum regarding the terms hereof, shall be recorded by Tenant. Any such unauthorized recording shall be a Default for
which there shall be no cure or grace period. Tenant agrees to execute and acknowledge, at the request of Landlord, a memorandum of this
Lease, in recordable form.

 

26.20       SURVIVAL

 

The waivers of the right of
jury trial, the other waivers of claims or rights, the releases and the obligations of Tenant under this Lease to indemnify, protect,
defend and hold harmless Landlord and/or Indemnitees shall survive the expiration or termination of this Lease, and so shall all other
obligations or agreements which by their terms survive expiration or termination of this Lease.

 

    65

     

    

 

 26.21       OFAC

 

(a)            Tenant
hereby represents, warrants and covenants to Landlord, either that (i) Tenant is regulated by the SEC, FINRA or the Federal Reserve
(a “Regulated Entity”) or (ii) neither Tenant nor any person or entity that directly or indirectly (A) controls
Tenant or (B) has an ownership interest in Tenant of twenty-five percent (25%) or more, appears on the list of Specially Designated
Nationals and Blocked Persons (“OFAC List”) published by the Office of Foreign Assets Control (“OFAC”) of the
U.S. Department of the Treasury.

 

(b)            Tenant
covenants that during the term of this Lease to provide to Landlord information reasonably requested by Landlord including without limitation,
organizational structural charts and organizational documents which Landlord may deem to be necessary (“Tenant OFAC Information”)
in order for Landlord to confirm Tenant’s continuing compliance with the provisions of this Article. Tenant represents and warrants
that the Tenant OFAC Information it has provided or to be provided to Landlord or Landlord’s Broker in connection with the execution
of this Lease is true and complete.

 

(c)            Landlord
advises Tenant hereby that the purpose of this Section is to provide to Landlord information and assurances to enable Landlord to
comply with the Laws relating to OFAC.

 

(d)            Tenant
acknowledges that the breach of any of the representations, warranties and/or covenants by Tenant under this Section 25.21 shall
be an immediate Default under this Lease.

 

26.22        INSPECTION
BY A CASP IN ACCORDANCE WITH CIVIL CODE SECTION 1938.

 

Landlord discloses that to
Landlord’s knowledge, neither the Building nor the Premises have undergone inspection by a Certified Access Specialist. Furthermore,
pursuant to Section 1938 of the California Civil Code, Landlord notifies Tenant of the following: “A Certified Access Specialist
(CASp) can inspect the subject premises and determine whether the subject premises comply with all of the applicable construction-related
accessibility standards under state law. Although California state law does not require a CASp inspection of the subject premises, the
commercial property owner or lessor may not prohibit the lessee or tenant from obtaining a CASp inspection of the subject premises for
the occupancy or potential occupancy of the lessee or tenant, if requested by the lessee or tenant. The parties shall mutually agree on
the arrangements for the time and manner of any such CASp inspection, the payment of the costs and fees for the CASp inspection and the
cost of making any repairs necessary to correct violations of construction-related accessibility standards within the Premises.”
Tenant agrees that (a) Tenant may, at its option and at its sole cost, cause a CASp to inspect the Premises and determine whether
the Premises complies with all of the applicable construction-related accessibility standards under California law, (b) the parties
shall mutually coordinate and reasonably approve of the timing of any such CASp inspection so that Landlord may, at its option, have a
representative present during such inspection, and (c) Tenant shall be solely responsible for the cost of any repairs necessary to
correct violations of construction-related accessibility standards within the Premises and Building identified by any such CASp inspection,
any and all such alterations and repairs within the Premises to be performed by Tenant shall be subject to Landlord’s consent and
in accordance with this Lease. Landlord and Tenant hereby agree that if Tenant elects to perform a CASp inspection of the Premises, Tenant
will provide written notice to Landlord, and Landlord may elect, in Landlord’s sole discretion, to retain a CASp to perform the
inspection. If Landlord does not so elect, the time and manner of the CASp inspection is subject to the prior written approval of Landlord.
In either event, the payment of the fee for the CASp inspection shall be borne by Tenant.

 

    66

     

    

  

26.23       COUNTERPARTS

 

This Lease may be executed
in any number of counterparts, each of which shall be deemed an original, but all of which, together, shall constitute one and the same
instrument. Telecopied signatures or signatures transmitted by electronic mail in so-called “pdf” format or via DocuSign or
similar electronic means, may be used in place of original signatures on this Lease. Landlord and Tenant intend to be bound by the signatures
on the telecopied or e-mailed document, are aware that the other party will rely on the telecopied or e-mailed signatures, and hereby
waive any defenses to the enforcement of the terms of this Lease based on such telecopied or e-mailed signatures. Promptly following request
by either party, the other party shall provide the requesting party with original signatures on this Lease.

 

26.24       EXHIBITS
AND RIDERS

 

All exhibits, riders and/or
addenda referred to in this Lease as an exhibit, rider, or addenda hereto, or attached hereto, are hereby incorporated into and made a
part of this Lease.

 

[Signatures on Following Page]

 

    67

     

    

 

IN WITNESS WHEREOF, this Lease
has been executed as of the date set forth in Section 1.1 hereof.

 

	TENANT:	 	LANDLORD:
	 	 	 
	LIGAND PHARMACEUTICALS INCORPORATED, a Delaware corporation	 	EMERY STATION OFFICE II, LLC, a California
  limited liability company
	 	 	 
	 	 	By:	Emery Station Associates II, LLC,
  its Managing Member

  

	 	 	 	By:	Wareham-NZL, LLC,
	By:	/s/ Matthew W. Foehr	 	 	 	its Managing Member

 

	Name:	Matthew W. Foehr	 

	 	By:	/s/
  Richard K. Robbins                  

	Its:	President/COO	 	 	 	 	Richard K. Robbins
	 	 	 	 	 	 	Its Manager

 

	By:	/s/ Charles Berkman	 	 	 	 

 

	Name:	Charles Berkman 	 

	 	 	 

	Its:	SVP, General Counsel, and Secretary	 	 	 	 	 

 

    68

     

    

  

RIDER 1

 

COMMENCEMENT DATE AGREEMENT

 

________________,
LLC, a ___________ limited liability company (“Landlord”), and                         ,
a               (“Tenant”),
have entered into a certain Office/Laboratory Lease dated as of                    ,
20__ (the “Lease”).

 

WHEREAS, Landlord and Tenant
wish to confirm and memorialize the Commencement Date, the Rent Commencement Date and Expiration Date of the Lease as provided for in
Section 2.2 of the Lease;

 

NOW, THEREFORE, in consideration
of the foregoing and the mutual covenants contained herein and in the Lease, Landlord and Tenant agree as follows:

 

1.            Unless
otherwise defined herein, all capitalized terms shall have the same meaning ascribed to them in the Lease.

 

2.            The
Phase I Commencement Date (as defined in the Lease) of the Lease is ___________, 20__.

 

3.            The
Phase II Commencement Date (as defined in the Lease) of the Lease is ___________, 20__.

 

4.            The
Phase I Rent Commencement Date (as defined in the Lease) of the Lease is ___________, 20__.

 

5.            The
Phase II Rent Commencement Date (as defined in the Lease) of the Lease is ___________, 20__.

 

6.            The
Expiration Date (as defined in the Lease) of the Lease is ___________, 20__.

 

7.            The
Extended Expiration Date under the Crystal Bio Lease (as defined in the ________ Amendment to the Crystal Bio Lease) is __________, 20__.

 

8.            Tenant
hereby confirms the following:

 

(a)            That
it has accepted possession of the Premises pursuant to the terms of the Lease;

 

(b)            That
the Landlord Work is Substantially Complete; and

 

(c)            That
the Lease is in full force and effect.

 

9.            Except
as expressly modified hereby, all terms and provisions of the Lease are hereby ratified and confirmed and shall remain in full force and
effect and binding on the parties hereto.

 

    Rider 1-1

     

    

 

10.            The
Lease and this Commencement Date Agreement contain all of the terms, covenants, conditions and agreements between Landlord and Tenant
relating to the subject matter herein. No prior other agreements or understandings pertaining to such matters are valid or of any force
and effect.

  

	TENANT:	 	LANDLORD:
	 	,	________________ LLC, 
	a_______________________	 	a ________ limited liability company
	 	 	 

 

	By:	 	 	By:	 

	Print Name:	 	 	 	        Richard
  K. Robbins

	Its:	 	 	 	        Managing
  Member

 

	By:	 	 	[INSERT CORRECT SIGNATURE BLOCK FOR PROPERTY]

	Print
  Name:	 	 	 	 

	Its:	                          	 	 

   

    Rider 1-2

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