Document:

Advisory Agreement

 CONFIDENTIAL TREATMENT REQUESTED. Confidential portions of this document have been redacted and have been separately
filed with the Commission. 
 ADVISORY AGREEMENT 
 THIS AGREEMENT, made as of April 1, 2008, among Morgan Stanley Managed Futures GMF I, LLC, a Delaware limited liability company (the “Trading Company”), Demeter Management Corporation, a Delaware
corporation (the “Trading Manager”), and Grinham Managed Funds Pty. Ltd., a New South Wales, Australia proprietary limited company (the “Trading Advisor”). 
 WITNESSETH: 
 WHEREAS, the Trading Company has been organized pursuant to
a Certificate of Formation filed with Secretary of State of the State of Delaware on March 27, 2008 (the “Certificate of Formation”) and an operating agreement (the “Operating Agreement”) to, among other things, directly or
indirectly through a commodity trading advisor, trade, buy, sell, spread, or otherwise acquire, hold, or dispose of commodities (including, but not limited to, foreign currencies, mortgage-backed securities, money market instruments, financial
instruments, and any other securities or items which are now, or may hereafter be, the subject of futures contract trading), domestic and foreign commodity futures contracts, forward contracts, foreign exchange commitments, options on physical
commodities and on futures contracts, spot (cash) commodities and currencies, exchange of futures contracts for physicals transactions, exchange of physicals for futures contracts transactions, and any rights pertaining thereto, whether traded on an
organized exchange or otherwise (hereinafter referred to collectively as “futures interests;” provided, however, such definition shall exclude securities futures products as defined by the Commodity Futures Trading Commission
(“CFTC”), options in securities futures and options in equities) and securities (such as United States Treasury securities) approved by the CFTC for investment of customer funds and other securities on a limited basis, and to engage in all
activities incident thereto; 
 WHEREAS, the Trading Company is a commodity pool operated by the Trading Manager in which other
commodity pool investment vehicles sponsored and/or managed by the Trading Manager and/or its affiliates will invest (each such investment vehicle, a “Member,” and collectively, the “Members”); 
 WHEREAS, the principals of the Trading Advisor have extensive experience trading in futures interests and the Trading Advisor is willing to
provide the services and undertake the obligations as set forth herein; 
 WHEREAS, the Trading Company and the Trading Manager each
desires the Trading Advisor to act as a trading advisor for the Trading Company and to make investment decisions with respect to futures interests for the Trading Company and the Trading Advisor desires so to act; and 
 WHEREAS, the Trading Company, the Trading Manager and the Trading Advisor wish to enter into this Agreement which, among other things, sets forth
certain terms and conditions upon which the Trading Advisor will conduct the Trading Company’s futures interest trading. 

 NOW, THEREFORE, the parties hereto hereby agree as follows: 
 1. Undertakings in Connection with the Continuing Offering of Units. 
 (a) The Trading Advisor agrees with respect to the continuing offering of interests (“Units”) in the Members: (i) to make all disclosures regarding itself, its principals and affiliates, its trading
performance, its trading systems, methods and strategies (subject to the need, in the reasonable discretion of the Trading Advisor, to preserve the secrecy of Proprietary Information (as defined in Section 1(c) hereof) concerning such systems,
methods and strategies), any client accounts over which it has discretionary trading authority (other than the names of or identifying information with respect to any such clients), and otherwise, as the Members may reasonably require (x) in
connection with any Member’s offering materials (collectively, the “Offering Memoranda”) as required by Rule 4.21 of the regulations under the Commodity Exchange Act (the “CEAct”), including in connection with any amendments
or supplements thereto, or (y) to comply with any other applicable law or rule or regulation, including those of the CFTC, the National Futures Association (the “NFA”) or any other regulatory or self-regulatory body, exchange, or
board with jurisdiction over its members (or to comply with the reasonable request of the aforementioned organizations); and (ii) to otherwise cooperate with the Trading Company, the Trading Manager and the Members by providing information
regarding the Trading Advisor in connection with the preparation of the Offering Memoranda, including any amendments or supplements thereto, as part of making application for registration of the Units under the securities or blue sky laws of any
jurisdictions, including foreign jurisdictions, as the Members may deem appropriate; provided that all such disclosures are subject to the need, in the reasonable discretion of the Trading Advisor, to preserve the secrecy of Proprietary Information
concerning its clients, systems methods and strategies. As used herein, unless otherwise provided, the term “principal” shall have the meaning as defined in Rule 4.10(e) of the CFTC’s regulations and the term “affiliate”
shall mean an individual or entity that directly or indirectly controls, is controlled by, or is under common control with, such party. 
 (b) If the Trading Advisor becomes aware of any materially untrue or misleading statement or omission regarding itself or any of its principals or affiliates in the Disclosure Document (as defined in Section 18 hereof), or of the
occurrence of any event or change in circumstances which would result in there being any materially untrue or misleading statement or omission in the Disclosure Document regarding itself or any of its principals or affiliates, the Trading Advisor
shall promptly notify the Trading Manager and shall cooperate with the Trading Manager in the preparation of any necessary amendments or supplements to the Offering Memoranda. Neither the Trading Advisor nor any of its principals, or affiliates, or
any stockholders, officers, directors, or employees shall distribute the Offering Memoranda or selling literature or shall engage in any selling activities whatsoever in connection with the continuing offering of Units except as may be specifically
approved by the Trading Manager and agreed to by the Trading Advisor. 
 (c) For purposes of this Agreement, and notwithstanding any of the
provisions hereof, all non-public information relating to the Trading Advisor including, but not limited to, records, whether original, duplicated, computerized, handwritten, or in any other form, and information contained therein, business and/or
marketing and/or sales plans and proposals, names of past and current clients, names of past, current and prospective contacts, trading 

 
methodologies, systems, strategies and programs, trading advice, trading instructions, results of proprietary accounts, training materials, research data
bases, portfolios, and computer software, and all written and oral information, furnished by the Trading Advisor to the Trading Company, the Trading Manager, the Members and/or their officers, directors, employees, agents (including, but not limited
to, attorneys, accountants, consultants, and financial advisors) or controlling persons (each a “Recipient”), regardless of the manner in which it is furnished, together with any analysis, compilations, studies or other documents or
records which are prepared by a Recipient of such information and which contain or are generated from such information, regardless of whether explicitly identified as confidential, with the exception of information which (i) is or becomes
generally available to the public other than as a result of acts by the Recipient in violation of this Agreement, (ii) is in the possession of the Recipient prior to its disclosure pursuant to the terms hereof, (iii) is or becomes
available to the Recipient from a source that is not bound by a confidentiality agreement with regard to such information or by any other legal obligation of confidentiality prohibiting such disclosure, or (iv) that is independently developed
by the Recipient without use of the confidential information described in this Section 1(c), are and shall be confidential information and/or trade secrets and the exclusive property of the Trading Advisor (“Confidential Information”
and/or “Proprietary Information”). 
 (d) The Trading Company and the Trading Manager each warrants and agrees that they and their
respective officers, directors, members, equity holders, employees and agents (including for purposes of this Agreement, but not limited to, attorneys, accountants, consultants, and financial advisors) will protect and preserve the Confidential
Information and will disclose Confidential Information or otherwise make Confidential Information available only to the Trading Company’s or the Trading Manager’s officers, directors, members, equity holders, employees and agents
(including for purposes of this Agreement, but not limited to, attorneys, accountants, consultants, and financial advisors), who need to know the Confidential Information (or any part of it) for the purpose of satisfying their fiduciary, legal,
reporting, filing or other obligations hereunder or to monitor performance in the account during the term of this Agreement or thereafter, or to the Trading Company, Trading Manager or a Recipient, as the case may be, is required to disclose such
Confidential Information due to a fiduciary obligation or legal or regulatory request. Additionally, the Trading Company and the Trading Manager each warrants and agrees that it and any Recipient will use the Confidential Information solely for the
purpose of satisfying the Trading Company’s or the Trading Manager’s obligations under this Agreement and not in a manner which violates the terms of this Agreement. 
 2. Duties of the Trading Advisor. 
 (a) Upon the commencement of trading operations on April 1, 2008 by the Trading Advisor on behalf of the Trading Company, the Trading Advisor hereby agrees to act as a Trading Advisor for the Trading Company and, as such, shall have
authority and responsibility for directing the investment and reinvestment of the Trading Company’s assets, which shall consist of the Trading Company’s Net Assets (as defined in Section 5(c) hereof) plus “notional” funds,
if any, as specified in writing by the Trading Manager and consented to by the Trading Advisor (the “Assets”), on the terms and conditions and in accordance with the prohibitions and the trading policies set forth in Exhibit A to this
Agreement as amended from time to time and provided in writing to the Trading Advisor by the Trading Manager (the “Trading Policies”); provided, however, that the Trading Manager may override the instructions of the Trading 

 
Advisor without notice to the Trading Advisor to the extent necessary (i) to comply with the Trading Policies and with applicable speculative position
limits, (ii) to fund any distributions or redemptions, (iii) to pay the Trading Company’s expenses, (iv) to the extent the Trading Manager believes doing so is necessary for the protection of the Trading Company, (v) to
terminate the futures interest trading of the Trading Company with the Trading Advisor, or (vi) to comply with any applicable law or regulation. The Trading Manager agrees not to override any such instructions for the reasons specified in
clauses (ii) or (iii) of the preceding sentence unless the Trading Advisor fails to comply with a request of the Trading Manager to make the necessary amount of funds available to the Trading Company within two trading days of such
request. The Trading Advisor shall not be liable for the consequences of any decision by the Trading Manager to override instructions of the Trading Advisor, except to the extent that such consequences result from a material breach of this Agreement
by the Trading Advisor or the Trading Advisor fails to comply with the Trading Manager’s decision to override an instruction. 
 (b) The
Trading Advisor shall: 
 (i) Exercise good faith and due care in trading futures interests for the account of the Trading
Company in accordance with the prohibitions and Trading Policies, and the trading systems, methods, and strategies of the Trading Advisor described in the Disclosure Document, with such changes and additions to such trading systems, methods or
strategies as the Trading Advisor, from time to time, incorporates into its trading approach for accounts the size of the Trading Company. 
 (ii) Provide the Trading Manager, within 10 Business Days of receiving the Monthly Package (as defined below) from the Trading Manager, and within 30 days of a separate request which the Trading Manager may make from
time to time, with information comparing the performance of the Trading Company’s account and the performance of all other client accounts (“Other Accounts”) directed by the Trading Advisor using the trading systems used by the
Trading Advisor on behalf of the Trading Company over a specified period of time for the purpose of confirming that the Trading Company has been treated equitably compared to such Other Accounts. In providing such information, the Trading Advisor
may take such steps as are necessary to assure the confidentiality of the Trading Advisor’s clients’ identities. The Trading Advisor shall, upon the Trading Manager’s request, consult with the Trading Manager concerning any
discrepancies between the performance of such Other Accounts and the Trading Company’s account. The Trading Advisor shall promptly inform the Trading Manager in writing of any material discrepancies of which the Trading Advisor is aware. The
Trading Manager acknowledges that the following differences in accounts may cause divergent trading results: different trading strategies, methods or degrees of leverage, different trading policies, accounts experiencing differing inflows or
outflows of equity, different risk profiles, accounts which commence trading at different times and accounts which have different portfolios or different fiscal years, different commission rates and trading costs, different interest amounts,
different account sizes leading to different levels of diversification, different fill levels, partial fills which may mean some accounts can miss trades altogether. 

 The “Monthly Package” shall mean the monthly performance table of the Trading
Company provided by Demeter to the Trading Advisor consisting of capital contributed, capital withdrawn, trading results, interest income and all expenses of the Trading Company (as amended from time to time). 
 (iii) Inform the Trading Manager when the Trading Advisor’s open positions maintained by the Trading Advisor exceed the Trading
Advisor’s applicable speculative position limits as set by the CFTC. 
 (iv) Upon request of the Trading Manager,
promptly provide the Trading Manager with information concerning the Trading Advisor and its activities reasonably requested by the Trading Manager (including, information relating to changes in control, key personnel, trading approach, or financial
condition). 
 (c) All purchases and sales of futures interests pursuant to this Agreement shall be for the account, and at the risk, of the
Trading Company and not for the account, or at the risk of the Trading Advisor or any of its affiliates or each of their principals, stockholders, directors, officers, or employees, or any other person, if any, who controls the Trading Advisor. All
brokerage commissions and related transaction fees arising from such trading by the Trading Advisor shall be for the account of the Trading Company. 
 (d) Errors. 
 (i) Subject to Section 7(a) hereof, *. The Trading Advisor shall have an affirmative obligation to promptly notify the Trading Manager upon discovery of such Errors with respect to the account. 
 (ii) * 
 (iii) The Trading Advisor offers no guarantee that the trading signals will be correctly followed at all times. There may be occasions
where the trading signals are not followed correctly which may lead to significant financial loss on the clients account. The Trading Advisor generates a large number of signals on an average day. On occasion this can lead to incorrect order entry.
For example: an order may be “Bought” where the signal was to “Sell”, an incorrect price may be entered, an incorrect volume may be entered or an incorrect market may be traded. Other types of errors may also occur and are not
limited to these examples. 
 (e) Prior to the commencement of trading by the Trading Company, the Trading Manager, on behalf of the Trading
Company, shall deliver to the Trading Advisor a trading authorization appointing the Trading Advisor the Trading Company’s attorney-in-fact for such purpose (a form of which is attached hereto as Exhibit B). 
 (f) In performing services to the Trading Company, the Trading Advisor shall utilize its Diversified Managed Accounts Program (the “Trading
Program”), as described in the Disclosure Document, and as modified from time to time. The Trading Advisor shall give the Trading Manager prior written notice of any change in the Trading Program that the Trading 
  

	*	Confidential material redacted and filed separately with the Commission. 

  

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Advisor considers to be material (and shall not effect such change on behalf of the Trading Company without the Trading Manager’s consent), including
any additional futures interests to be traded by the Trading Advisor not already listed on Exhibit C. Changes in the futures interests traded, provided that such futures interests are listed on Exhibit C, shall not be deemed a modification of the
Trading Program. 
 3. Trading Advisor as an Independent Contractor. 
 For all purposes of this Agreement, the Trading Advisor shall be deemed to be an independent contractor and shall, unless otherwise expressly provided
herein or authorized, have no authority to act for or represent the Trading Company or its Members in any way or otherwise be deemed an agent of the Trading Company or its Members. Nothing contained herein shall be deemed to require the Trading
Company to take any action contrary to the Operating Agreement or the Certificate of Formation of the Trading Company as from time to time in effect, or any applicable law or rule or regulation of any regulatory or self-regulatory body, exchange, or
board. Nothing herein contained shall constitute the Trading Advisor, the Trading Manager, or the Members, as members of any partnership, joint venture, association, syndicate or other entity, or be deemed to confer on any of them any express,
implied, or apparent authority to incur any obligation or liability on behalf of any other. It is expressly agreed that the Trading Advisor is neither a promoter, sponsor, or issuer with respect to the Trading Company or its Members, nor does the
Trading Advisor have any authority or responsibility with respect to the offer, sale or issuance of Units. 
 4. Commodity Broker.

 The Trading Advisor shall effect all transactions in futures interests for the Trading Company through the Trading Company’s separate
account maintained with such commodity broker or brokers as the Trading Manager shall direct and appoint from time to time. Morgan Stanley & Co., Incorporated (“MS & Co.”), Morgan Stanley & Co. International
Limited, and Morgan Stanley Capital Group Inc. (“MSCG” and collectively, the “Commodity Brokers”) may act as the clearing commodity brokers for the Trading Company, and MS & Co. and its affiliates may act as foreign
exchange forward contract counterparty for the Trading Company. MSCG and its affiliates may act as an options on foreign exchange forward contract counterparty for the Trading Company. The Trading Manager shall provide the Trading Advisor with
copies of brokerage statements. 

 Notwithstanding the foregoing, the Trading Advisor may execute trades through floor brokers other than
those employed by MS & Co. and its affiliates so long as arrangements (including executed give-up agreements) are made for such floor brokers to “give-up” or transfer the positions to MS & Co. in conformity with the
Trading Policies set forth in Exhibit A attached hereto. 
 5. Fees. 
 (a) For the services to be rendered to the Trading Company by the Trading Advisor under this Agreement: 
 (i) The Trading Company shall pay the Trading Advisor a monthly management fee equal to 1/12 of *% (a *% annual rate) of the Assets (as
defined in Section 2(a) hereof) as of the first day of each month (the “Management Fee”). The Management Fee is payable in arrears within 30 calendar days of the end of the month for which it was calculated. For purposes of this
Agreement, “Business Day” shall mean any day which the securities markets are open in the United States. 
 (ii) The
Trading Company shall pay the Trading Advisor an incentive fee equal to 20.0% of the New Trading Profit (as defined in Section 5(d) hereof) in each capital account of the Members in the Trading Company (the “Capital Account”) that
shall accrue monthly but is not payable until the end of each calendar quarter (the “Incentive Fee”). The initial incentive period will commence on the date of the Trading Company’s initial closing for each Capital Account and shall
end on the last day of the first full calendar quarter after such initial closing occurs. The Incentive Fee is payable within 30 Business Days of the end of the calendar quarter for which it was calculated. 
 (b) If this Agreement is terminated on a date other than the last day of a calendar quarter, the Incentive Fee shall be determined as if such date were
the end of a calendar quarter. If this Agreement is terminated on a date other than the end of a month, the Management Fee described above shall be determined as if such date were the end of a month, but such fee shall be prorated based on the ratio
of the number of trading days in the month through the date of termination to the total number of trading days in the month. If, during any month after the Trading Company commences trading operations (including the month in which the Trading
Company commences such operations), the Trading Company does not conduct business operations, or suspends trading for the account of the Trading Company managed by the Trading Advisor, or, as a result of an act or material failure to act by the
Trading Advisor, is otherwise unable to utilize the trading advice of the Trading Advisor on any of the calendar days of that month for any reason, the Management Fee shall be prorated based on the ratio of the number of trading days in the month
which the Trading Company account managed by the Trading Advisor engaged in trading operations or utilizes the trading advice of the Trading Advisor to the total number of trading days in the month. The Management Fee payable to the Trading Advisor
for the month in which the Trading Company begins to receive trading advice from the Trading Advisor pursuant to this Agreement shall be prorated based on the ratio of the number of trading days in the month from the day the Trading Company begins
to receive such trading advice to the total number of trading days in the month. In the event that there is an increase or decrease in the Assets as of any day other than the first day of a month, the Trading Advisor shall be paid a pro rata
Management Fee on such increase or decrease in the Assets for such month. 
  

	*	Confidential material redacted and filed separately with the Commission. 

 (c) The term “Net Assets” shall mean the total assets of the Trading Company (including, but
not limited to, all cash and cash equivalents, accrued interest and amortization of original issue discount, and the market value (marked-to-market) of all open futures interest positions and other assets of the Trading Company) less all liabilities
of the Trading Company determined in accordance with generally accepted accounting principles consistently applied under the accrual basis of accounting. Unless generally accepted accounting principles require otherwise, the market value of a
futures or option contract traded on a United States exchange shall mean the settlement price on the exchange on which the particular futures or option contract shall be traded by the Trading Company on the day with respect to which the Net Assets
are being determined; provided, however, that if a contract could not be liquidated on such day due to the operation of daily limits or other rules of the exchange on which that contract shall be traded or otherwise, the settlement price on
the first subsequent day on which the contract could be liquidated shall be the market value of such contract for such day, or if a contract could not be liquidated on such day due to the exchange being closed for an exchange holiday, the settlement
price on the most recent preceding day on which the contract could have been liquidated shall be the market value of such contract for such day. The market value of a forward contract or a futures or option contract traded on a foreign exchange or
market shall mean its market value as determined by the Trading Manager on a basis consistently applied for each different variety of contract. 
 (d) The term “New Trading Profit” shall mean net futures interest trading profits (realized and unrealized) on the Assets in each Capital Account, decreased proportionally by the Trading Advisor’s monthly management fees,
brokerage commissions, transaction costs and administrative fees. Such trading profits and items of decrease shall be determined for each Capital Account from the end of the last calendar quarter in which an Incentive Fee was earned by the Trading
Advisor or, if no Incentive Fee has been earned previously by the Trading Advisor with respect to a Capital Account, from the date that the Trading Advisor commenced managing the Assets in the Capital Account, to the end of the calendar quarter as
of which such Incentive Fee calculation is being made. Extraordinary expenses do not reduce New Trading Profit. Interest income is not included in New Trading Profit. New Trading Profit shall be calculated before reduction for Incentive Fees paid or
accrued so that the Trading Advisor does not have to earn back Incentive Fees. Accrued Incentive Fees shall be paid to the Trading Advisor on those assets withdrawn from a Capital Account due to redemptions at the end of any month when such
withdrawal of assets is made as if such month-end is the end of the calendar quarter. 
 (e) If any payment of Incentive Fees is made to the
Trading Advisor on account of New Trading Profit earned by the Trading Advisor for a Capital Account and the Trading Advisor thereafter fails to earn New Trading Profit or experiences losses for any subsequent incentive period, the Trading Advisor
shall be entitled to retain such amounts of Incentive Fees previously paid to the Trading Advisor in respect of such New Trading Profit. 
 (f) No Incentive Fees shall be payable to the Trading Advisor until the Trading Advisor has earned New Trading Profit; provided, however, that if the Assets of a 

 
Capital Account are reduced because of redemptions that occur at the end of, and/or subsequent to, a calendar quarter in which the Trading Advisor
experiences a futures interest trading loss for the Trading Company, the trading loss that must be recovered before the Trading Advisor will be deemed to experience New Trading Profit in a subsequent calendar quarter will be equal to the amount
determined by (x) dividing the Assets of each Capital Account after such decrease by the Assets in such Capital Account immediately before such decrease and (y) multiplying that fraction by the amount of the unrecovered futures interest
trading loss prior to such decrease. In the event that the Trading Advisor experiences a trading loss for a Capital Account in more than one calendar quarter without the Trading Company paying an intervening Incentive Fee and Assets for a Capital
Account are reduced in more than one such calendar quarter because of redemptions, then the trading loss for each such calendar quarter shall be adjusted in accordance with the formula described above and such reduced amount of futures interest
trading loss shall be carried forward and used to offset subsequent futures interest trading profits. 
 6. Term 
 (a) This Agreement shall continue in effect for a period of one year from the date the Agreement was entered (the “One-Year Period”) into unless
otherwise terminated as set forth in this Section 6. The Trading Advisor may terminate this Agreement at the end of the One-Year Period by providing prior written notice of termination to the Trading Company at least sixty days prior to the
expiration of the One-Year Period. If the Agreement is not terminated upon the expiration of the One-Year Period, this Agreement shall automatically renew for an additional one-year period and shall continue to renew for additional one-year periods
until this Agreement is otherwise terminated, as provided for herein. The Trading Advisor may terminate this Agreement, after the completion of the One-Year Period, upon forty-five days’ prior written notice to the Trading Company and Trading
Manager. This Agreement shall automatically terminate if the Trading Company is dissolved. 
 (b) The Trading Company and Trading Manager
each shall have the right to terminate this Agreement in its discretion (i) at any month end upon five days’ prior written notice to the Trading Advisor, or (ii) at any time upon prior written notice to the Trading Advisor upon the
occurrence of any of the following events: (A) if any person described as a “principal” of the Trading Advisor in the Offering Memoranda ceases for any reason to be an active “principal” of the Trading Advisor; (B) if
the Trading Advisor becomes bankrupt or insolvent; (C) if the Trading Advisor is unable to use its trading systems or methods as in effect on the date hereof and as modified in the future for the benefit of the Trading Company; (D) if the
registration, as a commodity trading advisor, of the Trading Advisor with the CFTC or its membership in the NFA is revoked, suspended, terminated, or not renewed, or limited or qualified in any respect; (E) except as provided in Section 11
hereof, if the Trading Advisor merges or consolidates with, or sells or otherwise transfers its advisory business, or all or a substantial portion of its assets, any portion of its futures interest trading systems or methods, or its goodwill to, any
individual or entity; (F) if, at any time, the Trading Advisor violates any Trading Policy or administrative policy, except with the prior express written consent of the Trading Manager; or (G) if the Trading Advisor fails in a material
manner to perform any of its obligations under this Agreement. 
  

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 (c) Except as otherwise provided in this Agreement, any termination of this Agreement in accordance with
this Section 6 shall be without penalty or liability to any party, on account of such termination. 
 (d) The indemnities set forth in
Section 7 hereof shall survive any termination of this Agreement. 
 7. Standard of Liability: Indemnifications. 
 (a) Limitation of Trading Advisor Liability. In respect of the Trading Advisor’s role in the futures interests trading of the Trading Company,
the Trading Advisor shall not be liable to the Trading Company or the Trading Manager or their partners, directors, officers, principals, managers, members, shareholders, employees, controlling persons or successors and assigns except that the
Trading Advisor shall be liable for acts or omissions that constitute a breach of this Agreement or a representation, warranty or covenant herein, misconduct, fraud or negligence, or are the result of the Trading Advisor not having acted in good
faith and in the reasonable belief that such actions or omissions were in, or not opposed to, the best interests of the Trading Company. 
 (b) Trading Advisor Indemnity in Respect of Management Activities. The Trading Advisor shall indemnify, defend and hold harmless the Trading Company and the Trading Manager, their controlling persons, their affiliates and their
respective directors, officers, principals, managers, members, shareholders, employees and controlling persons from and against any and all losses, claims, damages, liabilities (joint and several), costs, and expenses (including any reasonable
investigatory, legal, and other expenses incurred in connection with, and any amounts paid in, any litigation or other proceeding or any settlement; provided that the Trading Advisor shall have approved such settlement) incurred as a result of any
action or omission involving the Trading Company’s futures interest trading by the Trading Advisor, or any of its controlling persons or affiliates or their respective directors, officers, principals, managers, members, shareholders, or
employees; provided that such liability arises from an act or omission of the Trading Advisor, or any of its controlling persons or affiliates or their respective directors, officers, principals, managers, members, shareholders, or employees which
is found by a court of competent jurisdiction upon entry of a final judgment (or, if no final judgment is entered, by an opinion rendered by counsel who is approved by the Trading Company and the Trading Advisor, such approval not to be unreasonably
withheld) to be a breach of this Agreement or a representation, warranty or covenant herein, misconduct, fraud or negligence, or conduct not done in good faith in the reasonable belief that it was in, or not opposed to, the best interests of the
Trading Company. Notwithstanding anything herein to the contrary, no Member of the Trading Company may assert any rights under this sub-clause 7(b), except with respect the Trading Advisor’s obligations pursuant to Sections 1(a), 1(b), 9(a),
16(a)(i) or 16(a)(ii) of this Agreement. 
 (c) Trading Company Indemnity in Respect of Management Activities. The Trading Company and
the Trading Manager shall, jointly and severally, indemnify, defend, and hold harmless the Trading Advisor, its controlling persons, their affiliates and their respective directors, officers, principals, managers, members, shareholders, employees
and controlling 

 
persons, from and against any and all losses, claims, damages, liabilities (joint and several), costs, and expenses (including any reasonable investigatory,
legal, and other expenses incurred in connection and any amounts paid in, any litigation or other proceeding or any settlement; provided that the Trading Company and Trading Manager shall have approved such settlement) resulting from a demand,
claim, lawsuit, action, or proceeding (other than those incurred as a result of claims brought by or in the right of an indemnified party relating to this Agreement (except as covered by paragraph (e) below), the fact that the Trading Advisor
is or was a trading advisor to the Trading Company or the futures interest trading activities of the Trading Company undertaken by the Trading Advisor; provided that a court of competent jurisdiction upon entry of a final judgment finds (or, if no
final judgment is entered, an opinion is rendered to the Trading Company by independent counsel reasonably acceptable to both parties) to the effect that the action or inaction of such indemnified party that was the subject of the demand, claim,
lawsuit, action, or proceeding did not constitute negligence, misconduct, or a breach of this Agreement or a representation, warranty or covenant of the Trading Advisor, its controlling persons, their affiliates and their respective directors,
officers, shareholders, employees, and controlling persons and was done in good faith and in a manner such indemnified party reasonably believed to be in, or not opposed to, the best interests of the Trading Company 
 (d) Trading Advisor Indemnity in Respect of Sale of Units. The Trading Advisor shall indemnify, defend and hold harmless the Trading Company, the
Trading Manager, any selling agent, their controlling persons and their affiliates and their respective directors, officers, principals, managers, members, shareholders, employees and controlling persons from and against any and all losses, claims,
damages, liabilities, costs, and expenses, (joint and several), to which any indemnified person may become subject (including any reasonable investigatory, legal, and other expenses incurred in connection with, and any amounts paid in, any
litigation or other proceeding or any settlement, provided that the Trading Advisor shall have approved such settlement, and in connection with any administrative proceedings), in respect of the offer or sale of Units, insofar as such losses,
claims, damages, liabilities, costs, or expenses (or action in respect thereof) arise out of, or are based upon: (i) a breach by the Trading Advisor of any applicable laws or regulations or any representation, warranty or agreement in this
Agreement; or (ii) any materially untrue statement or omission relating or with respect to the Trading Advisor, or any of its principals, or their operations, trading systems, methods or performance, which was made in the Offering Memoranda or
any amendment or supplement thereto or any other sales literature and furnished by the Trading Advisor for inclusion therein. Notwithstanding anything herein to the contrary, no Member of the Trading Company may assert any rights under this
sub-clause 7(d), except with respect to the Trading Advisor’s obligations pursuant to Section 1(a), 1(b), 9(a), 16(a)(i) or 16(a)(ii) of this Agreement. 
 (e) Trading Company Indemnity in Respect of Sale of Units. The Trading Company and Trading Manager shall, jointly and severally, indemnify, defend and hold harmless the Trading Advisor its controlling persons,
their affiliates and their respective directors, principals, managers, members shareholders, employees and controlling persons from and officers, against any loss, claim, damage, liability, cost, and expense, joint and several, to which any
indemnified person may become subject (including any reasonable investigatory, legal, and other expenses incurred in connection with, and any amounts paid in, any litigation or other proceeding or any settlement, provided that the Trading Company
shall have approved such settlement, and in connection with any administrative proceedings), in respect of the offer or sale 

 
of Units, unless such loss, claim, damage, liability, cost, or expense (or action in respect thereof) arises out of, or is based upon: (i) a breach by
the Trading Advisor of any applicable laws or regulations or any representation, warranty or agreement in this Agreement; or (ii) any materially untrue statement or omission relating or with respect to the Trading Advisor, or any of its
principals or their operations, trading systems, methods or performance which was made in the Offering Memoranda or in any other sales literature and furnished by the Trading Advisor for inclusion therein. 
 (f) Subject to Section 7(a) hereof, the foregoing agreements of indemnity shall be in addition to, and shall in no respect limit or restrict, any
other remedies which may be available to an indemnified person. 
 (g) Promptly after receipt by an indemnified person of notice of the
commencement of any action, claim, or proceeding to which any of the indemnities may apply, the indemnified person will notify the indemnifying party in writing of the commencement thereof if a claim in respect thereof is to be made against the
indemnifying party hereunder; but the omission so to notify the indemnifying party will not relieve the indemnifying party from any liability that the indemnifying party may have to the indemnified person hereunder, except where such omission has
materially prejudiced the indemnifying party. In case any action, claim, or proceeding is brought against an indemnified person and the indemnified person notifies the indemnifying party of the commencement thereof as provided above, the
indemnifying party will be entitled to participate therein and, to the extent that the indemnifying party desires, to assume the defense thereof with counsel selected by the indemnifying party and not unreasonably disapproved by the indemnified
person. After notice from the indemnifying party to the indemnified person of the indemnifying party’s election so to assume the defense thereof as provided above, the indemnifying party will not be liable to the indemnified person under the
indemnity provisions hereof for any legal and other expenses subsequently incurred by the indemnified person in connection with the defense thereof, other than reasonable costs of investigation. 
 Notwithstanding the preceding paragraph, if in any action, claim, or proceeding as to which indemnification is or may be available hereunder, an
indemnified person reasonably determines that its interests are or may be adverse, in whole or in part, to the indemnifying party’s interests or that there may be legal defenses available to the indemnified person that are different from, in
addition to, or inconsistent with the defenses available to the indemnifying party, the indemnified person may retain its own counsel in connection with such action, claim, or proceeding and will be indemnified (provided the indemnified person is so
entitled) by the indemnifying party for any legal and other expenses reasonably incurred in connection with investigating or defending such action, claim, or proceeding. 
 In no event will the indemnifying party be liable for the fees and expenses of more than one counsel for all indemnified persons in connection with any one action; claim, or proceeding or in connection with separate
but similar or related actions, claims, or proceedings in the same jurisdiction arising out of the same general allegations. The indemnifying party will not be liable for any settlement of any action, claim, or proceeding effected without the
indemnifying party’s express written consent, but if any action, claim, or proceeding, is settled with the indemnifying party’s express written consent, the indemnifying party will indemnify, defend, and hold harmless an indemnified person
as provided in this Section 7. 

 8. Right to Advise Others and Uniformity of Acts and Practices. 
 (a) The Trading Advisor is engaged in the business of advising clients as to the purchase and sale of futures interests. During the term of this
Agreement, the Trading Advisor, its principals and affiliates, will be advising other clients (including affiliates and the stockholders, officers, directors, and employees of the Trading Advisor and its affiliates and their families) and trading
for their own accounts. The Trading Advisor will use its best efforts to implement a fair and consistent allocation policy that seeks to ensure that all clients are treated equitably and positions allocated as nearly as possible in proportion to the
assets available for trading of the accounts managed or controlled by the Trading Advisor. Upon written request, the Trading Manager may request a copy of the Trading Advisor’s procedures regarding the equitable treatment of trades across
accounts. Such procedures shall be provided to the Trading Manager within 30 days of such request by the Trading Manager. Except as otherwise set forth herein, the Trading Advisor and its principals and affiliates agree to treat the Trading Company
in a fiduciary capacity to the extent recognized by applicable law, but subject to that standard. Under no circumstances shall the Trading Advisor by any act or omission knowingly or intentionally favor any account advised or managed by the Trading
Advisor over the account of the Trading Company in any way or manner. Nothing contained in this Section 8(a) shall preclude the Trading Advisor from charging different management and/or incentive fees to its clients. Subject to the Trading
Advisor’s obligations under applicable law, the Trading Advisor or any of its principals or affiliates shall be free to advise and manage accounts for other clients and shall be free to trade on the basis of the same trading systems, methods,
or strategies employed by the Trading Advisor for the account of the Trading Company, or trading systems, methods, or strategies that are entirely independent of, or materially different from, those employed for the account of the Trading Company,
and shall be free to compete for the same futures interests as the Trading Company or to take positions opposite to the Trading Company, where such actions do not knowingly or intentionally prefer any of such accounts over the account of the Trading
Company on an overall basis. 
 (b) The Trading Advisor shall not be restricted as to the number or nature of its clients, except that:
(i) so long as the Trading Advisor acts as a trading advisor for the Trading Company, neither the Trading Advisor nor any of its principals or affiliates shall knowingly hold any position or control any other account that would cause the
Trading Company, the Trading Advisor, or the principals or affiliates of the Trading Advisor to be in violation of the CEAct or any regulations promulgated thereunder, any other applicable law, or any applicable rule or regulation of the CFTC or any
other regulatory or self regulatory body, exchange, or board; and (ii) neither the Trading Advisor nor any of its principals or affiliates shall render futures interests trading advice to any other individual or entity or otherwise engage in
activity that shall knowingly cause positions in futures interests to be attributed to the Trading Advisor under the rules or regulations of the CFTC or any other regulatory or self regulatory body, exchange, or board so as to require the
significant modification of positions taken or intended for the account of the Trading Company; provided that the Trading Advisor may modify its trading systems, methods or strategies to accommodate the trading of additional funds or accounts. If
applicable speculative position limits are exceeded by the Trading Advisor in the opinion of (i) independent 

 
counsel (who shall be other than counsel to the Trading Company), (ii) the CFTC, or (iii) any other regulatory or self regulatory body, exchange,
or board, the Trading Advisor and its principals and affiliates shall promptly liquidate positions in all of their accounts, including the Trading Company’s account, as to which positions are attributed to the Trading Advisor as nearly as
possible in proportion to the accounts’ respective amounts available for trading (taking into account different degrees of leverage and “notional” equity) to the extent necessary to comply with the applicable position limits.

 9. Representations, Warranties, and Covenants of the Trading Advisor. 
 (a) Representations and Warranties of the Trading Advisor. The Trading Advisor represents and warrants to and agrees with the Trading Manager and the
Trading Company as follows: 
 (i) It will exercise good faith and due care in implementing the Trading Program on behalf of
the Trading Company as described in the Disclosure Document (as modified from time to time) or any other trading programs agreed to by the Trading Manager and the Trading Advisor. 
 (ii) The Trading Advisor shall follow and comply with, at all times, the Trading Policies, as amended in writing and furnished to the
Trading Advisor from time to time. 
 (iii) The Trading Advisor shall trade the Assets pursuant to the same trading programs
described in the Disclosure Document unless the Trading Manager and the Trading Advisor agree otherwise. 
 (iv) The Trading
Advisor is duly organized, validly existing and in good standing under the laws of the state of its organization and is qualified to do business as a foreign corporation and is in good standing in each other jurisdiction in which the nature or
conduct of its business requires such qualification and the failure to so qualify would materially adversely affect the Trading Advisor’s ability to perform its duties under this Agreement. The Trading Advisor has full power and authority to
perform its obligations under this Agreement. The only principals of the Trading Advisor are those set forth in the Offering Memoranda and Disclosure Document (the “Trading Advisor Principals”). 
 (v) The Disclosure Document contains all statements and information required to be included therein under the CEAct and other applicable
laws, and such information is accurate and complete in all material respects. 
 (vi) All references to the Trading Advisor
and the Trading Advisor Principals and trading systems, methods and performance in the Offering Memoranda are accurate and complete in all material respects. With respect to the Trading Advisor, the Trading Advisor Principals, and its trading
systems, methods and performance: (i) the Offering Memoranda contains all statements and information required to be included therein under the CEAct and the rules and regulations thereunder, and (ii) the Offering 

 
Memoranda do not contain, and will not during the term of this Agreement contain, any untrue statement of a material fact or omit to state a material fact
necessary to make the statements contained therein, in the light of the circumstances under which such statements were made, not misleading. Except as otherwise disclosed in the Offering Memoranda, the actual performance of each discretionary
account directed by the Trading Advisor or any principal or affiliate of the Trading Advisor over the past five years and year-to-date is disclosed in the Offering Memoranda on either a composite or a stand alone basis. The information regarding the
actual performance of such accounts set forth in the Offering Memoranda has been calculated and presented in accordance with the descriptions therein and is complete and accurate in all material respects. 
 (vii) This Agreement has been duly and validly authorized, executed and delivered on behalf of the Trading Advisor and is a valid and
binding agreement of the Trading Advisor enforceable in accordance with its terms. 
 (viii) Each of the Trading Advisor and
the Trading Advisor Principals has all federal, state and foreign governmental, regulatory and exchange licenses and approvals and has effected all filings and registrations with federal, state and foreign governmental and regulatory agencies
required to conduct its business and to act as described in the Offering Memoranda or required to perform its or his obligations under this Agreement. The Trading Advisor is registered as a commodity trading advisor under the CEAct and is a member
of the NFA in such capacity. 
 (ix) The execution and delivery of this Agreement, the incurrence of the obligations set forth
herein, the consummation of the transactions contemplated herein and in the Offering Memoranda and the payment of the fees hereunder will not violate, or constitute a breach of, or default under, the certificate of incorporation or bylaws (or any
other organizational documents) of the Trading Advisor or any agreement or instrument by which it is bound or of any order, rule, law or regulation binding on it of any court or any governmental body or administrative agency or panel or
self-regulatory organization having jurisdiction over it. 
 (x) Since the respective dates as of which information is given
in the Disclosure Document, and except as may otherwise be stated in or contemplated by the Disclosure Document, there has not been any material adverse change in the condition, financial or otherwise, business or prospects of the Trading Advisor or
any Trading Advisor Principal. 
 (xi) Except as set forth in the Disclosure Document there have not been and there is not
pending, or to the best of the Trading Advisor’s knowledge after due inquiry, threatened, any action, suit or proceeding before or by any court or other governmental body to which the Trading Advisor or any Trading Advisor Principal is or was a
party, or to which any of the assets of the Trading Advisor is or was subject and which resulted in or might reasonably be expected to result in any material adverse change in the condition, financial or otherwise, business or prospects of the
Trading Advisor. None of the Trading Advisor or any Trading Advisor Principal has received any notice of an investigation by the NFA, CFTC or other administrative agency or self-regulatory 

 
body (whether United States or foreign) regarding noncompliance by the Trading Advisor or any of the Trading Advisor Principals with the CEAct or any other
applicable law. 
 (xii) Neither the Trading Advisor nor any Trading Advisor Principal has received, or is entitled to
receive, directly or indirectly, any commission, finder’s fee, similar fee, or rebate from any person in connection with the organization or operation of the Trading Company. 
 (xiii) Participation by the Trading Advisor in accordance with the terms hereof and as described in the Offering Memoranda will not
violate any provisions of the Investment Advisers Act of 1940, as amended. 
 (xiv) Neither the Trading Advisor nor any
Trading Advisor Principal will use or distribute the Offering Memoranda or any selling literature or engage in any selling activities whatsoever in connection with the offering of the Units. 
 (xv) The information in the Offering Memoranda about the Trading Advisor does not contain any misleading or untrue statements of a
material fact or omit to state a material fact required to be stated therein to make the statements not misleading. 
 (xvi)
The foregoing representations and warranties shall be continuing during the term of this Agreement and if at any time any event shall occur which could make any of the foregoing representations or warranties inaccurate, the Trading Advisor shall
promptly notify the Trading Manager and the Trading Company of the nature of such event. 
 (b) Covenants of the Trading Advisor. The
Trading Advisor covenants and agrees that: 
 (i) The Trading Advisor shall maintain all registrations and memberships
necessary for the Trading Advisor to continue to act as described herein and to at all times comply in all respects with all applicable laws, rules, and regulations, to the extent that the failure to so comply would have a materially adverse effect
on the Trading Advisor’s ability to act as described herein. 
 (ii) The Trading Advisor shall inform the Trading Manager
immediately as soon as the Trading Advisor or any Trading Advisor Principal becomes the subject of any investigation, claim or proceeding of any regulatory authority having jurisdiction over such person or becomes a named party to any litigation
materially affecting (or which may, with the passage of time, materially affect) the business of the Trading Advisor. The Trading Advisor shall also inform the Trading Manager immediately if the Trading Advisor or any of its officers becomes aware
of any breach of this Agreement by the Trading Advisor. 

 (iii) The Trading Advisor agrees to cooperate by providing information regarding itself
and its performance in the preparation of any amendments or supplements to the Offering Memoranda (subject to the limitation set forth in Section 1 hereof). 
 10. Representations and Warranties of the Trading Company and the Trading Manager; Covenants of the Trading Manager. 
 (a) The Trading Company and the Trading Manager represent and warrant to the Trading Advisor, as follows: 
 The Trading Company has provided to the Trading Advisor the Offering Memoranda in the form first issued. The Trading Company will ensure that the Members will not utilize any amendment or supplement to the Offering
Memoranda unless the Trading Advisor has received reasonable prior notice of and a copy of such amendments or supplements and has approved any description of the Trading Advisor contained therein. 
 (ii) Each Members’ organizational agreement provides for the subscription for and sale of the Units in the respective Member; all
material actions required to be taken by each Member as a condition to the sale of its Units to qualified subscribers therefor has been, or prior to each closing described in the Member’s Confidential Private Placement Memorandum shall have
been taken; and, upon payment of the consideration therefor specified in each accepted subscription agreement in such form as attached to the respective Member’s Confidential Private Placement Memorandum, the Units will constitute valid
interests in the Member. Each Member is in material compliance with all laws, rules, regulations and orders of any governmental agency or self-regulatory organization applicable to the Member’s business and the offering, sale, issuance and
distribution of its Units. 
 (iii) The Trading Company is a limited liability company duly formed pursuant to its Certificate
of Formation, Operating Agreement and the Delaware Limited Liability Company Act and is validly existing and in good standing under the laws of the State of Delaware with full power and authority to engage in the trading of futures interests and to
engage in its other contemplated activities as described in the Offering Memoranda; the Trading Company is qualified to do business in each jurisdiction in which the nature or conduct of its business requires such qualification and where failure to
be so qualified could materially adversely affect the Trading Company’s ability to perform its obligations hereunder. 
 (iv) The Trading Manager is duly organized and validly existing and in good standing as a corporation under the laws of the State of Delaware and is qualified to do business and is in good standing as a foreign corporation in each
jurisdiction in which the nature or conduct of its business requires such qualification and where the failure to be so qualified could materially adversely affect the Trading Manager’s ability to perform its obligations hereunder. 

 (v) The Trading Company and the Trading Manager have full power and authority under
applicable law to conduct their business and to perform their respective obligations under this Agreement and as described in the Offering Memoranda. 
 (vi) As of the date hereof, the Offering Memoranda contain all statements and information required to be included therein by the CEAct or other applicable law and at all times subsequent thereto up to and including
each closing, the Offering Memoranda will comply in all material respects with the requirements of the rules of the NFA, the CEAct or other applicable laws. The Offering Memoranda as of the initial closing (as described therein), date of issue, and
at each closing will not contain any misleading or untrue statements of a material fact or omit to state a material fact required to be stated therein or necessary to make the statements therein not misleading. Any supplemental sales literature,
when read in conjunction with the Offering Memoranda, will not contain any untrue statements of a material fact or omit to state a material fact necessary to make the statements therein, in light of the circumstances under which such statements were
made, not misleading. This representation and warranty shall not, however, apply to any statement or omission in the Offering Memoranda or supplemental sales literature made in reliance upon information furnished by and relating to the Trading
Advisor, its trading methods or its trading performance. 
 (vii) Since the respective dates as of which information is given
in the Offering Memoranda, there has not been any material adverse change in the condition, financial or otherwise, or business of the Trading Manager or the Trading Company, whether or not arising in the ordinary course of business. 
 (viii) This Agreement has been duly and validly authorized, executed and delivered by the Trading Manager on behalf of the Trading Company
and constitutes a valid, binding and enforceable agreement of the Trading Company and the Trading Manager in accordance with its terms. 
 (ix) The execution and delivery of this Agreement, the incurrence of the obligations set forth herein and the consummation of the transactions contemplated herein and in the Offering Memoranda will not violate, or
constitute a breach of, or default under, the Trading Manager’s certificate of incorporation or bylaws, or the Trading Company’s Certificate of Formation or Operating Agreement, or any material agreement or instrument by which either the
Trading Manager or the Trading Company, as the case may be, is bound or any material order, rule, law or regulation applicable to the Trading Manager or the Trading Company of any court or any governmental body or administrative agency or panel or
self-regulatory organization having jurisdiction over the Trading Manager or the Trading Company. 
 (x) Except as set forth
in the Offering Memoranda, there has not been in the five years preceding the date of the Offering Memoranda and there is not pending or, to the Trading Manager’s knowledge, threatened, any action, suit or proceeding at law or in equity before
or by any court or by any federal, state, municipal or other governmental body or any administrative, self-regulatory or commodity exchange 

 
organization to which the Trading Manager or the Trading Company is or was a party, or to which any of the assets of the Trading Manager or the Trading
Company is or was subject; and neither the Trading Manager nor any of the principals of the Trading Manager (“Trading Manager Principals”) has received any notice of an investigation by the NFA, CFTC or any other administrative or
self-regulatory organization regarding non-compliance by the Trading Manager or the Trading Manager Principals or the Trading Company with the CEAct, the Securities Act of 1933, as amended, or any applicable laws which are material to an
investor’s decision to invest in a Member. 
 (xi) The Trading Manager and the Trading Manager Principals have all
federal, state and foreign governmental, regulatory and exchange approvals and licenses, and have effected all filings and registrations with federal, state and foreign governmental agencies required to conduct their business and to act as described
in the Offering Memoranda or required to perform their obligations under this Agreement (including, without limitation, registration as a commodity pool operator under the CEAct and membership in the NFA as a commodity pool operator) and will
maintain all such required approvals, licenses, filings and registrations for the term of this Agreement. The Trading Manager’s principals identified in the Offering Memoranda are all of the Trading Manager Principals. 
 (xii) The Trading Company is and shall remain in material compliance in all respects with all laws, rules, regulations and orders of any
government, governmental agency or self-regulatory organization applicable to its business as described in the Offering Memoranda and this Agreement. 
 (xiii) The foregoing representations and warranties shall be continuing during the term of this Agreement and if at any time any event shall occur which could make any of the foregoing representations or warranties
inaccurate, the Trading Manager shall promptly notify the Trading Advisor of the nature of such event. 
 (b) Covenants of the Trading
Manager. The Trading Manager covenants and agrees that: 
 (i) The Trading Manager shall maintain all registrations and
memberships necessary for the Trading Manager to continue to act as described herein and in the Offering Memoranda and to all times comply in all respects with all applicable laws, rules, and regulations, to the extent that the failure to so comply
would have a materially adverse effect on the Trading Manager’s ability to act as described herein and in the Offering Memoranda. 
 (ii) The Trading Manager shall inform the Trading Advisor immediately as soon as the Trading Manager, the Trading Company or any of their principals becomes the subject of any lawsuit, investigation, claim, or
proceeding of any regulatory authority having jurisdiction over such person or becomes a named party to any litigation materially affecting the business of the Trading Manager or the Trading Company. The Trading Manager shall also inform the Trading
Advisor immediately if the Trading Manager or the Trading Company or any of their officers become aware of any material breach of this Agreement by the Trading Manager or the Trading Company. 

 (iii) The Trading Company will furnish to the Trading Advisor copies of the Offering
Memoranda, and all amendments and supplements thereto, in each case as soon as available and will ensure that the Members do not use any such amendments or supplements as to which the Trading Advisor in writing has reasonably objected. 

11. Merger or Transfer of Assets. 
 The Trading Manager, Trading Company or the Trading Advisor may merge or consolidate with, or sell or otherwise transfer its business, or all or a substantial portion of its assets, to any entity upon written notice to the other parties.

 12. Complete Agreement. 
 This Agreement constitutes the entire agreement between the parties with respect to the matters referred to herein, and no other agreement, verbal or otherwise, shall be binding as between the parties unless in writing and signed by the
party against whom enforcement is sought. 
 13. Assignment. 
 Subject to Section 11, hereof, this Agreement may not be assigned, transferred by operation of law, change in control or otherwise, by any party
hereto without the express prior written consent of the other parties hereto. 
 14. Amendment. 
 This Agreement may not be amended except by the written consent of the parties hereto. No waiver of any provision of this Agreement shall be implied from
any course of dealings between the parties, from any failure by any party to assert its rights hereunder or any occasion or series of occasions. 
 15. Severability. 
 The invalidity or unenforceability of any provision of this Agreement or any covenant herein contained
shall not affect the validity or enforceability of any other provision or covenant hereof or herein contained and any such invalid provision or covenant shall be deemed to be severable. 
 16. Closing Certificates. 
 (a) The
Trading Advisor shall, at the Members’ initial closing and at the request of the Trading Manager at any monthly closing (as described in the Offering Memoranda), provide the following: 
 (i) To the Trading Manager, the Trading Company and the Members, a certificate, dated the date of any such closing and in form and
substance satisfactory to such parties, to the effect that; 

 (A) the representations and warranties by the Trading Advisor in this Agreement are true,
accurate, and complete on and as of the date of the closing, as if made on the date of the closing; and 
 (B) the Trading
Advisor has performed all of its obligations and satisfied all of the conditions on its part to be performed or satisfied under this Agreement, at or prior to the date of such closing. 
 (ii) To the Trading Manager, the Trading Company and the Members, a report as of the closing date which shall present, for the period from
the date after the last day covered by the historical performance records in the Offering Memoranda to the latest practicable day before closing, figures which shall be a continuation of such historical performance records and which shall certify
that such figures are, to the best of such Trading Advisor’s knowledge, accurate in all material respects. 
 (b) The Trading Advisor
shall, at or before the Members’ initial closing (as described in the Offering Memoranda), provide a legal opinion of the Trading Advisor’s counsel in a form acceptable to the Trading Manager. 
 (c) The Trading Manager shall, at the Members’ initial closing and at the request of the Trading Advisor at any closing (as described in the
Offering Memoranda), provide the following: 
 (i) To the Trading Advisor, a certificate, dated the date of such closing and
in form and substance satisfactory to the Trading Advisor, to the effect that: 
 (A) the representations and warranties by
the Trading Company and the Trading Manager in this Agreement are true, accurate, and complete on and as of the date of the closing as if made on the date of the closing; 
 (B) no order preventing or suspending the use of the Offering Memoranda has been issued by the CFTC, the Securities Exchange Commission,
any state securities commission, or the NFA or other self-regulatory organization and no proceedings for that purpose shall have been instituted or are pending or, to the knowledge of the Trading Manager, are contemplated or threatened under the
CEAct; and 
 (C) The Trading Company and the Trading Manager have performed all of their obligations and satisfied all of the
conditions on their part to be performed or satisfied under this Agreement at or prior to the date of the closing. 

 17. Inconsistent Filings. 
 If the Trading Advisor intends to file, to participate in the filing of, or to publish any description of the Trading Advisor, or of its respective
principals or trading approaches that is materially inconsistent with those in the Disclosure Document, the Trading Advisor shall inform the Trading Manager of such intention and shall furnish copies of all such filings or publications at least ten
Business Days prior to the date of filing or publication. 
 18. Disclosure Documents. 
 (a) During the term of this Agreement, the Trading Advisor shall furnish to the Trading Manager promptly copies of all disclosure-documents as filed in
final form with the CFTC, NFA or other self-regulatory organization by the Trading Advisor. The Trading Manager and Trading Company each acknowledge receipt of the Trading Advisor’s disclosure document dated August 20, 2007 (the
“Disclosure Document”). 
 (b) The Trading Manager and the Trading Company will not distribute or supplement any promotional
material relating to the Trading Advisor unless the Trading Advisor has approved reasonable prior notice of and a copy of such promotional material and has received such material in writing. 
 19. Track Record. The track record and other performance information of the Members shall be the property of the Trading Manager and not the
Trading Advisor. 
 20. Use of Name. 
 (a) The Trading Advisor hereby consents to the non-exclusive use by the Trading Company of (a) the name “GMF”, with respect to the Trading Company and (b) the names “Grinham” and
“Grinham Managed Funds Pty. Ltd” in any documentation regarding the Trading Company, only so long as the Trading Advisor serves as a trading advisor to the Trading Company. Each of the Trading Company and the Trading Manager agree to
indemnify and hold harmless the Trading Advisor, its partners, directors, officers, affiliates, employees and agents from and against any and all costs, losses, claims, damages or liabilities, joint or several, including, without limitation,
attorneys’ fees and disbursements, which may arise out of the Trading Company’s or the Trading Manager’s misuse of the names “GMF”, “Grinham” and “Grinham Managed Funds Pty. Ltd” or out of any breach of,
or failure to comply with, this Section 20. 
 (b) Upon termination of this Agreement, the Trading Company, at its expense, as promptly
as practicable: (i) shall take all necessary action to cause the Offering Memoranda and organizational documents of the Trading Company to be amended in order to eliminate any reference to “GMF”, “Grinham” or “Grinham
Managed Funds Pty. Ltd” (except to the extent required by law, regulation or rule); and (ii) shall cease to use in any other manner, including, but not limited to, use in any sales literature or promotional material, the name “Grinham
Managed Funds Pty. Ltd” or any name, mark or logo type derived from it or similar to it (except to the extent required by law, regulation or rule). 

 All notices required to be delivered under this Agreement shall be in writing and shall be effective when
delivered personally on the day delivered, by facsimile on receipt confirmation, by email followed by delivery of an original, or when given by registered or certified mail, postage prepaid, return receipt requested, on the second business day
following the day on which it is so mailed, addressed as follows (or to such other address as the party entitled to notice shall hereafter designate in accordance with the terms hereof): 
 if to the Trading Company: 
 Morgan Stanley
Managed Futures GMF I, LLC 
 c/o Demeter Management Corporation 
 Managed Futures Department 
 522 Fifth Avenue,
13th Floor 
 New York, NY 10036

 Attn: Walter Davis 
 Facsimile:
212-907-2750 
 Email: Jeremy.Beal@morganstanley.com; 
 Patrick.Egan@morganstanley.com; 
 Laura.Finne@morganstanley.com 
 if to the Trading Manager: 
 Demeter
Management Corporation 
 Managed Futures Department 
 522 Fifth Avenue, 13th Floor 
 New York, NY 10036 
 Attn: Walter Davis 
 Facsimile: 212-907-2750 
 Email: Jeremy.Beal@morganstanley.com; 
 Patrick.Egan@morganstanley.com; 
 Laura.Finne@morganstanley.com 
 With a copy to: 
 Alston & Bird LLP

 90 Park Avenue 
 New York, NY
10016 
 Attn: Timothy P. Selby 
 Facsimile: (212) 210-9444 
 Email: timothy.selby@alston.com 

 if to the Trading Advisor: 
 Grinham Managed Funds Pty. Ltd 
 12 Holtermann St 
 P.O. Box 744 
 Crows Nest, NSW 2065

 Attention: Neil Power 
 Facsimile: 612 8238 9499 
 Email: neil.powerAgmf.com.au 
 22. Continuing Nature of Representations Warranties and Covenants: Survival. 
 All representations, warranties and covenants contained in this Agreement shall be continuing during the term of this Agreement and the provisions of this
Agreement shall survive the termination of this Agreement with respect to any matter arising while this Agreement was in effect. Each party hereby agrees that as of the date of this Agreement it is, and during its term shall be, in compliance with
its representations, warranties and covenants herein contained. In addition, if at any time any event occurs which would make any of such representations, warranties or covenants not true, the affected party will use its best efforts to promptly
notify the other parties of such fact. 
 23. Third-Party Beneficiaries. 
 Except for each of the Members who shall be a third-party beneficiary of the applicable provisions of this Agreement, this Agreement is not intended and
shall not convey any rights to a party to this Agreement. 
 24. Governing Law. 
 This Agreement shall be governed by, and construed in accordance with, the laws of the State of New York. If any action or proceeding shall be brought
by a party to this Agreement or to enforce any right or remedy under this Agreement, each party hereto hereby consents and will submit to the jurisdiction of the courts of the State of New York or any Federal court sitting in the County, City and
State of New York. Any action or proceeding brought by any party to this Agreement to enforce any right, assert any claim or obtain any relief whatsoever in connection with this Agreement shall be brought by such party exclusively in the courts of
the State of New York or any federal court sitting in the County, City and State of New York. 
 25. Remedies. 
 In any action or proceeding arising out of any of the provisions of this Agreement, the Trading Advisor agrees not to seek any prejudgment equitable or
ancillary relief. The Trading Advisor agrees that its sole remedy in any such action or proceeding shall be to seek actual monetary damages for any breach of this Agreement, except that Trading Advisor may seek a declaratory judgment with respect to
the indemnification provisions of this Agreement. 

 Headings to sections herein are for the convenience of the parties only and are not intended to be part
of or to affect the meaning or interpretation of this Agreement. 
 27. Successors. 
 This Agreement including the representations, warranties and covenants contained herein shall be binding upon and inure to the benefit of the parties
hereto, their successors and permitted assigns, and no other person shall have any right or obligation under this Agreement. 
 28.
Counterparts. 
 This Agreement may be executed in counterparts, each of which shall be deemed an original but all of which together
shall constitute one and the same instrument. 
 29. Waiver of Breach. 
 The waiver by any party of a breach of any provision of this Agreement shall not operate or be construed as a waiver of any subsequent breach or of a
breach by any other party. The failure of a party to insist upon strict adherence to any provision of the Agreement shall not constitute a waiver or thereafter deprive such party of the right to insist upon strict adherence. 
 30. Severability. 
 If any provision
of this Agreement shall be held to be inconsistent with any present or future law, ruling, rule, or regulation of any court or governmental or regulatory authority having jurisdiction over the subject matter hereof, such provision shall be deemed to
be rescinded or modified in accordance with such law, ruling, rule, or regulation, and the remainder of this Agreement, or the application of such provision to persons or circumstances other than those as to which it shall be held inconsistent,
shall not be affected thereby. 

 IN WITNESS WHEREOF, this Agreement has been executed for and on behalf of the undersigned as of the day
and year first above written. 
  

			
	MORGAN STANLEY MANAGED FUTURES GMF I, LLC
		
	by:	 	Demeter Management Corporation Trading Manager
		
	By:	 	  

		 	Walter Davis
		 	Chairman and President
	
	DEMETER MANAGEMENT CORPORATION
		
	By:	 	  

		 	Walter Davis
		 	Chairman and President
	
	GRINHAM MANAGED FUNDS PTY. LTD
		
	By:	 	  

	Name:	 	Angus Grinham
	Title:	 	Director

 EXHIBIT A 
 Morgan Stanley Managed Futures MSC 
 Fund Operations Procedures 
 Following is a list of abbreviations used in this document: 
  

	•	 	 “Fund(s)” refers to Morgan Stanley Managed Futures Funds that utilize MS&Co/MSIP/MSCG as a clearing commodity broker. 

  

	•	 	 “Futures” is used to identify exchange traded futures, or forward contracts, and options on the same, that are cleared through a clearing house.

  

	•	 	 “FX” is used to identify non-exchange traded forward currency contracts, and options on the same, which are settled directly between the principals of the
trades. 

  

	•	 	 “General Partner” shall mean Demeter Management Corporation. 

  

	•	 	 “MF” is Morgan Stanley Managed Futures. 

  

	•	 	 “MSC” is MS&Co. and/or MSIP and/or MSCG (the Clearing Commodity Broker or FX Counterparty, as appropriate). 

  

	•	 	 “MS&Co” is Morgan Stanley & Co., Inc. a subsidiary of Morgan Stanley (the Clearing Commodity Broker or FX (Non-Options) Counterparty as
appropriate). 

  

	•	 	 “MSIP” is Morgan Stanley & Co. International plc a subsidiary of Morgan Stanley (a sub Clearing Commodity Broker). MSIP clears LME transactions
on behalf of the Funds. 

  

	•	 	 “MSCG” is Morgan Stanley Capital Group a subsidiary of Morgan Stanley (the FX Options Counterparty). 

 CONTACT INFORMATION: 
 Following are the Morgan Stanley
departments involved in servicing the Funds and the contact information. 
  

									
	 Abbreviation
	  	 Department
	  	 Primary Contact
	  	 Telephone
	  	 E-mail

	Futures Desk	  	MSC Futures Trading Desk	  	 Brian Jackman
 James Stedman
	  	 +1 212 761-1782
 +1 212
761-1093
	  	 Brian.Jackman@morganstanley.com
 James.Stedman@morganstanley.com

					
	Futures Ops	  	MSC Futures Operations	  	 Steve Bucello
 Erik Barry
	  	 +1 212 276-0477
 +1 212 276-0578
	  	 Steve.Bucello@morganstanley.com
 Erik.Barry@morganstanley.com

					
	FX Desk	  	MSC Foreign Exchange Trading Desk	  	Marlena Demenus	  	+1 212 761-2700	  	Marlena.Demenus@morganstanley.com
					
	FX Ops	  	MSC Foreign Exchange Operations	  	John Fusco	  	+1 718 754-4868	  	John.Fusco@morganstanley.com
					
	 MF Accounting
	  	Morgan Stanley Managed Futures Accounting	  	 Joe Tromello
 Kevin Scully
	  	 +1 212 276-5184
 +1 212 276-5121
	  	 Joe.Tromello@morganstanley.com 
 Kevin.Scully@morganstanley.com

					
	MF Ops	  	Morgan Stanley Managed Futures Operations	  	Laura Finne	  	+1 212 296-6813	  	Laura.Finne@morganstaley.com
					
	MF Prod Org	  	Morgan Stanley Managed Futures Product Origination	  	Patrick Egan	  	+1 212 296-6808	  	Patrick.Egan@morganstanley.com
					
	MF Strat Plan	  	Morgan Stanley Managed Futures Strategic Planning	  	Chris Barry	  	+1 212 296-6812	  	Chris.Barry@morganstanley.com

 FUND ACCOUNTS: 
 Account Configuration 
  

	•	 	 Futures and Futures Options Trading – For each CTA trading program three Fund trading accounts will be assigned. A MS&Co segregated account, prefix
052. A MS&Co secured account, prefix 05A. A MSIP non-regulated (by the CFTC) account, prefix 045. 

  

	•	 	 FX (Non-Options) Trading – One Fund account for each CTA trading program will be assigned at MS&Co, prefix 058. 

  

	•	 	 FX Options Trading – One Fund account for each CTA trading program will be assigned at MSCG (if needed), prefix 057. 

  

	•	 	 Excess and FX Custody Accounts – For each CTA trading program two Fund accounts will be set up at MS&Co. One account will be designated as a custody
account for MS&Co FX. MF Ops will maintain equity in the custody account sufficient to cover margin requirements of the FX trading account. The second account will contain the balance of excess equity that is not required in the custody and
futures trading accounts. 

 Statements 
  

	•	 	 Futures – The CTA should contact Futures Ops regarding access to Fund futures account statements. 

  

	•	 	 FX – The CTA should contact FX Ops regarding access to Fund FX account statements. 

  

	•	 	 Excess and Custody – The CTA should contact MF Ops regarding access to the Fund account statements at MS&Co. 

 FX TRADING: 
 FX Order Execution 
  

	•	 	 FX trading of the Funds must be executed through the MSC FX Desk, unless the General Partner otherwise agrees in a form acceptable to the General Partner. The CTA
should contact the MSC FX Desk for information on trade execution procedures. 

  

	•	 	 When trading FX Options, all premiums (on outright trades and cross currency trades) must be booked at the clearing broker so that the premium is stated in USD.

 EFP Order Execution 
  

	•	 	 The CTA may utilize the FX Desk to execute EFP transactions. The futures leg of an EFP will be subject to the futures brokerage fee. The CTA should contact the FX
Desk for information on EFP trade execution procedures. 

 Foreign Currency Conversions 
  

	•	 	 The CTA is responsible for conversion into US dollars of Fund foreign currency balances created as a result of futures and/or FX trading. The CTA, at its own
discretion, should place conversion orders directly to the FX desk. 

 FUTURES TRADING: 
 Order Execution Service 
  

	•	 	 The MSC Futures Desk can provide the CTA with order execution facilities. The CTA should contact the Futures Desk for information on trade execution procedures.
“Give Up” Order Execution 

  

	•	 	 The CTA shall ensure that a “give-up” execution agreement is in place prior to the execution of any trade outside of MSC’s execution facilities in
accordance with this Agreement or as otherwise provided in writing to the CTA by the General Partner. 

  

	•	 	 On exchanges allowing “give up” execution, the CTA may have orders executed away from MSC and give up trades to MSC for clearing. The CTA should contact
Futures Ops for information on trade “give up” procedures. The CTA should ensure that executing brokers give trades up on a timely basis. The CTA should ensure that executing brokers make timely payment on price adjustments, when
applicable. For futures trades at exchanges where give up execution is not allowed, the CTA must use the execution facilities provided by the Clearing Commodity Broker. 

 “Give Up” Agreements 
  

	•	 	 The four party FIA/FOA uniform “give up” agreement is the acceptable form for futures “give ups”. The trader version FIA/FOA EFP agreement is
the acceptable form for EFP “give ups”. The CTA should send agreements that have been signed by both the CTA and executing broker to MF Ops, attention Laura Finne , Morgan Stanley, Managed Futures, 522 Fifth Avenue, 13th Floor, New York,
NY 10036 or through EGUS (FIA Electronic Give Up System). 

 “Give Up” Execution Payment 
  

	•	 	 For Chicago Markets (CBT, CME and affiliated exchange divisions), payment for floor brokerage will be handled via the ATOM system at its standard rate. Payment of
an execution service fee (“Give Up Fee”) will be handled exclusively through the GAINS system at a rate not to exceed the amount permitted by the General Partner from time to time (the “Execution Allowance”). The “Execution
Allowance” shall be based on the General Partner’s assessment for prevailing competitive rates for “Give Up Fees”. 

  

	•	 	 For New York Markets (NYBOT, NYMEX, NYFE and affiliated exchange divisions), payment of “Give Up Fees” will be handled exclusively through the ATOM system
at a rate not to exceed the “Execution Allowance”. 

  

	•	 	 For all other markets, MSC or its carrying broker, when utilized by MSC, will handle payment of “Give Up Fees” to the party from whom it directly receives
the trade at a rate not to exceed the “Execution Allowance”. Bills for “Give Up Fees” should be sent directly to MSC or its applicable carrying broker. 

  

	•	 	 Futures Ops will handle payment of “Give Up Fees”. 

 ACCOUNT MAINTENANCE: 
 Trade Allocations 
  

	•	 	 The CTA is responsible for determining the trade allocation procedure for Fund trading accounts. The CTA should ensure that the procedure was followed correctly,
and that trades are booked accordingly in Fund accounts. 

 Trade Reporting; (Futures) 
  

	•	 	 The CTA is responsible for reporting all trades to Futures Ops on a timely basis to facilitate clearing and reduce operational risk. The CTA should contact Futures
Ops for additional information. 

 Daily Trade Checkout 
  

	•	 	 The CTA is responsible for daily, end of trading day, checkout of all trades (including currency conversion trades) with Futures and FX Ops. The CTA should contact
Futures and FX Ops to determine specific checkout procedures. 

 Daily Statement Reconciliation 
  

	•	 	 The CTA is responsible for daily statement trade activity and position balancing with FX and Futures Operations. The CTA should contact FX and Futures Ops to
determine specific balancing procedures. 

  

	•	 	 The CTA should provide a daily, trade reconciliation for each Fund account to MF Ops, by 10:00 a.m. EST/EDT. Reconciliation reports can be emailed to
mops@morganstanley.com and should specify trades to be added or canceled in each account, with a valuation versus the current settlement price of the product, and any pending cash adjustments due from executing brokers or for bookkeeping
corrections. (MF Ops provides MF Accounting/the Administrator with adjusting information for the calculation of NAV.) Please contact MF Ops if you have any questions regarding this procedure. 

  

	•	 	 The CTA should notify MF Ops of any incorrect settlement prices it becomes aware of with regard to the MSC account statements of a Fund.

 Monitoring of Delivery Periods and Option Expirations 
  

	•	 	 The CTA is responsible for monitoring delivery periods (first notice dates and last trade dates), option expirations (option expiration and last trade dates), and
forward settlement and/or maturity dates. 

  

	•	 	 The CTA should take appropriate actions to ensure that futures contracts do not result in delivery. 

  

	•	 	 The CTA should ensure that their intentions regarding any open option positions, at the time of expiration, have been communicated appropriately to the Futures or
FX Ops areas. Contact Futures and FX Ops for specific communication procedures. 

 Margin Maintenance and Cash Transaction (Journal)
Reconciliation 
  

	•	 	 MF Ops is responsible for balancing of all journal entries in all Fund accounts and for ensuring the requisite corrective action is taken for each reconciling item.

  

	•	 	 MF Ops is responsible for the authorization of Fund margin transfers between MSC and MS&Co accounts for the purpose of maintaining equity (and/or collateral) in
amounts sufficient to meet Fund margin requirements in the MSC Futures accounts and the FX custody accounts. 

 TRADING LEVEL NOTIFICATION: 
  

	•	 	 For new trading allocations, MF Prod Org will provide notification to the CTA of trading authorization and the trading commencement date, along with notification of
the initial trading level. 

  

	•	 	 Thereafter, notification of estimated monthly net additions/withdrawals will be distributed by MF Strat Plan. On the third to last business day of each month a
preliminary estimate will be provided. On the first business day of each month a final estimate will be given. Any material adjustment (1% of account equity) from the final estimate to the actual will be provided. Notification will be made via fax
or email and the CTA will be asked to acknowledge receipt via fax or email. Questions regarding this procedure can be directed to MF Strat Plan. 

  

	•	 	 Subsequent to a Fund’s monthly closing, actual additions and withdrawals will be processed by MF Accounting/the Administrator via journal entry in the Fund
“excess” account at MS&Co. 

  

	•	 	 Any other trading level/asset allocation changes will be communicated in writing from MF Prod Org or MF Strat Plan. 

 FUND ACCOUNTING: 
 Net Asset Value Calculation

  

	•	 	 MF Accounting/the Administrator is responsible for determination of daily NAV estimates for the Funds. 

  

	•	 	 MF Accounting/the Administrator will determine the actual month end NAV of a Fund during the monthly closing process. 

 Brokerage Commission and Transaction Fees 
  

	•	 	 Brokerage commissions for each Fund will be charged in a manner consistent with the prospectus or offering memorandum. The CTA should contact MF Accounting/the
Administrator for additional information. 

 Fund Fee Processing 
  

	•	 	 Fund interest and all Fund fees, exclusive of brokerage commissions and transaction fees, will be processed in a Funds “excess” account at MS&Co.

  

	•	 	 MF Accounting/the Administrator will determine fees due to the CTA during the monthly closing process and notify the CTA of the fees via the monthly performance
tables. The CTA should provide contact information regarding fees to MF Accounting/the Administrator. 

  

	•	 	 MF Accounting/the Administrator will make payment of fees to the CTA via wire transfer. The CTA should provide wire instructions to MF Accounting/the Administrator.

 ERROR POLICY: 
  

	•	 	 Liability for all Errors shall be calculated in accordance with the provisions of Section 2(d) of this Agreement. 

 BORROWING: 
  

	•	 	 The CTA shall not use borrowed money to leverage any trades, unless otherwise approved by the General Partner 

 EXHIBIT B 
 COMMODITY TRADING AUTHORITY 
 Dear Grinham Managed Futures Pty. Ltd: 
 Morgan Stanley Managed Futures GMF I, LLC (the “Trading Company”) and Demeter Management
Corporation, the Trading Company’s Trading Manager (the “Trading Manager”) do hereby make, constitute and appoint you as the Trading Company’s attorney-in-fact to buy and sell futures and forward contracts through such futures
commission merchants as shall be agreed on by you and the Trading Manager on behalf of the Trading Company, pursuant to the trading program identified in the Agreement among the Trading Company, the Trading Manger and you as of the 1st day of April, 2008, as amended or supplemented, and in accordance with the terms and conditions of said Agreement. 
 This authorization shall terminate and be null, void and of no further effect simultaneously with the termination of the said Agreement. 
  

			
	Very truly yours,
	
	MORGAN STANLEY MANAGED FUTURES GMF I, LLC
	
	by: Demeter Management Corporation Trading Manager
		
	By	 	  

		 	Walter Davis
		 	Chairman and President
	
	DEMETER MANAGEMENT CORPORATION
		
	By:	 	  

		 	Walter Davis
		 	Chairman and President

 EXHIBIT C 
 FUTURES INTERESTS TRADED 
 Markets Traded by the
Grinham. Diversified Program March 2008 Equity Futures Contracts: 
  

			
	 Mini-DJIA
 Mini-S&P
 Mini-Nasdaq
 Eurex DAX DJ
 Euro Stoxx
 CAC40
 Hang Seng
 FTSE 100
 SPI200
 Nikkei-SIMEX
 HK China
 Mini - Russell 2000
 Nifty
 Taiwan
	  	 CBOT
 CME
 CME
 Eurex
 Eurex
 Euronext
 HKFE

LIFFE
 SFE
 SIMEX
 HKFE
 CME
 SGX
 SIMEX

 Bond/Cash Futures Contracts: 
  

			
	 US T-Bonds
 US 10YR TNote
 US 5YR TNote
 Eurodollars
 Eurex Bunds
 Euro Bobl
 Long Gilts
 AUS 10 Yr Bonds
 AUS 3 Yr Bonds
 JGB-SIMEX
 JGB-TSE
 Euro Shatz
 Euribor
 Short Sterling
 2 Yr Note
	  	 CBOT
 CBOT
 CBOT
 CME
 Eurex
 Eurex
 LIFFE
 SFE
 SFE
 SIMEX
 TSE
 Eurex
 Eurex
 Euronext
 CBOT

 Commodity Futures Contracts: 
  

			
	 Wheat
 Soybeans
 Soybean Meal
 Soybean Oil
 Live Cattle
 Copper
 Silver
 Gold
 Sugar
 RBOB Gas
 Coffee
 Cotton
 Crude Oil
 Heating Oil
 Natural Gas
 Corn
 Brent Crude
 Gas Oil
 Cocoa
 Robusta Coffee

	  	 CBOT
 CBOT
 CBOT
 CBOT
 CME
 CMX
 CMX
 CMX
 CSCE
 ICE
 NYBOT
 NYBOT
 NYMEX
 NYMEX
 NYMEX
 CBOT
 ICE
 ICE
 NYBOT
 Euronext

 Foreign Exchange Futures Contracts: 
  

			
	 British Pound
 Japanese Yen
 Euro
 Swiss Franc
	  	 CME
 CME
 CME
 CME

 Foreign Exchange Cash Settled (spot and forwards with maturity date of less than 12 months): 
  

			
	GBP/USD	  	OTC
	JPY/USD	  	OTC
	EUR/USD	  	OTC
	CHF/USD	  	OTCLease between PR III Middlefield Road, LLC, Landlord, and VeriSign, Inc., Tenant

 EXHIBIT 10.01 
 LEASE 
 between 
 PR III MIDDLEFIELD ROAD, LLC, 
 Landlord 
 and 
 VERISIGN, INC., 
 Tenant 
 Date: As of: June 19, 2008 
 Premises: 
 675 and 685 East Middlefield Road

 Mountain View, California 94043 

 TABLE OF CONTENTS 
  

					
	 	  	 	  	Page
	 1.
	  	DEFINITIONS	  	1
			
	 2.
	  	DEMISE	  	6
			
	 3.
	  	TERM	  	7
			
	 4.
	  	RENT	  	8
			
	 5.
	  	REAL ESTATE TAXES	  	9
			
	 6.
	  	USE AND COMPLIANCE	  	10
			
	 7.
	  	INSTALLATIONS OF TENANT PROPERTY	  	13
			
	 8.
	  	UTILITIES AND SERVICES	  	14
			
	 9.
	  	REPAIR AND MAINTENANCE; EXPENSES	  	14
			
	 10.
	  	MECHANICS’ AND OTHER LIENS	  	19
			
	 11.
	  	ALTERATIONS	  	19
			
	 12.
	  	INSURANCE	  	20
			
	 13.
	  	DAMAGE OR DESTRUCTION	  	22
			
	 14.
	  	CONDEMNATION	  	24
			
	 15.
	  	DEFAULT BY TENANT	  	26
			
	 16.
	  	LANDLORD OR TENANT MAY PERFORM THE OTHER’S OBLIGATIONS	  	28
			
	 17.
	  	SURRENDER OF PREMISES; HOLDOVER	  	29
			
	 18.
	  	ASSIGNMENT AND SUBLETTING	  	30
			
	 19.
	  	INDEMNITY	  	31
			
	 20.
	  	ENVIRONMENTAL MATTERS	  	32
			
	 21.
	  	SUBORDINATION	  	32
			
	 22.
	  	BROKER	  	33
			
	 23.
	  	NOTICES	  	33
			
	 24.
	  	QUIET ENJOYMENT	  	34
			
	 25.
	  	ESTOPPEL CERTIFICATE	  	34
			
	 26.
	  	LIMITATION OF LIABILITY	  	34
			
	 27.
	  	ACCESS OF LANDLORD TO PREMISES	  	34
			
	 28.
	  	AUTHORITY	  	35
			
	 29.
	  	LANDLORD EXCULPATION	  	35
			
	 30.
	  	TRANSFER OF LANDLORD’S INTEREST	  	35
			
	 31.
	  	ERISA	  	36
			
	 32.
	  	ANTI-TERRORISM REPRESENTATIONS	  	36

  

 i 

 TABLE OF CONTENTS 
  

					
	 	  	 	  	Page
	 33.
	  	WAIVER OF POST-JUDGMENT REMEDY, REDEMPTION, COUNTERCLAIM AND JURY TRIAL	  	36
			
	 34.
	  	PROPOSITION 65 WARNING	  	37
			
	 35.
	  	TERMINOLOGY	  	37
			
	 36.
	  	MISCELLANEOUS PROVISIONS	  	37

					
		
	 EXHIBITS
	  	
		
	 Exhibit A Description of the Land
	  	
		
	 Exhibit B Form of Subordination, Non-Disturbance and Attornment Agreement
	  	

  

 ii 

 LEASE 
 THIS LEASE (“Lease”) is made as of June 19, 2008, (the “Effective Date”) by and between PR III Middlefield Road, LLC, a California limited liability company,
(“Landlord”) and VeriSign, Inc., a Delaware corporation, (“Tenant”). 
 W I T N
E S S E T H: 
 WHEREAS, Landlord owns fee simple title to a parcel of land, more
particularly described as the “Land” below, upon which are currently constructed surface parking areas, infrastructure components and the following improvements: (i) the building commonly known as 675 East Middlefield Road, Mountain
View, California containing approximately 52,931 rentable square feet of interior floor area and (ii) the building commonly known as 685 East Middlefield Road, Mountain View, California containing approximately 105,950 rentable square feet of
interior floor area. 
 WHEREAS, Landlord desires to lease the Property to Tenant and Tenant desires to lease the Property from
Landlord, upon and subject to the terms and conditions set forth herein. 
 NOW, THEREFORE, for good and valuable consideration, the
receipt and sufficiency of which are hereby acknowledged, Landlord and Tenant hereby agree as follows: 
 1. DEFINITIONS 

As used herein, the following terms and phrases shall have the meanings indicated below: 
 1.1 “Additional Rent” means any payments or reimbursements required to be made by Tenant to Landlord hereunder during the Term of this
Lease, other than the Basic Rent. 
 1.2 “Alterations” means any alterations, additions, improvements or replacements to the
Premises. 
 1.3 “Anti-Terrorism Laws” has the meaning set forth in Section 32. 
 1.4 “Basic Rent” has the meaning set forth in Section 4.1. 
 1.5 “Building” or “Buildings” means, individually or collectively as the context requires, the buildings, other
improvements, associated equipment and appurtenances thereto of every kind and description located on and within the Land as of the Commencement Date. 
 1.6 “Building Systems” has the meaning set forth in Section 9.1. 
 1.7
“Casualty” has the meaning set forth in Section 13.1. 
 1.8 “Chiller” means that certain water cooled
chiller referenced in that certain Property Condition Assessment Report dated February 8, 2008, prepared by Marx/Okubo as Job No. 08-9007 B. 
  

 1 

 1.9 “Claims” means, collectively, liability, claims, demands, damages and costs
(including attorneys’ fees and expenses) of any and every kind or character, known or unknown, for, arising out of, or attributable to, an event, circumstance or condition, including, without limitation, any and all actual, threatened or
potential claims, claims for contribution under Environmental Laws, suits, proceedings, actions, causes of action, demands, liabilities, losses, obligations, orders, requirements or restrictions, liens, penalties, fines, charges, debts, damages,
costs, and expenses of every kind and nature, whether now known or unknown, whether foreseeable or unforeseeable, whether under any foreign, federal, state or local law (both statutory and non-statutory), and, whether asserted or demanded by a third
party against Landlord, a Landlord Affiliate or any other claimant or potential claimant, or incurred directly or indirectly by any of them. 
 1.10 “Commencement Date” means the Effective Date of this Lease. 
 1.11 “Common Areas” has the
meaning set forth in Section 6.3. 
 1.12 “Condemnation” has the meaning set forth in Section 14.1. 
 1.13 “Condemnation Restoration Completion Estimate” has the meaning set forth in Section 14.3. 
 1.14 “Damaged Property” has the meaning set forth in Section 13.1. 
 1.15 “Default Rate” means ten percent (10%) per annum. 
 1.16 “Effective Date” has the meaning set forth in the first sentence of this Lease. 
 1.17 “EMBP 455” has the meaning set forth in Section 1.54. 
 1.18 “Environmental Laws” means any applicable federal, state or local law, statute, regulation, rule, ordinance, permit, prohibition,
restriction, license, requirement, agreement, consent, or approval, or any determination, directive, judgment, decree or order of any executive, administrative or judicial authority at any federal, state or local level (whether now existing or
subsequently adopted or promulgated) relating to pollution or the protection of the environment, natural resources or public health and safety. 
 1.19 “Event of Default” has the meaning set forth in Section 15.1. 
 1.20 “Expenses” has the
meaning set forth in Section 4.4. 
 1.21 “Expiration Date”
means the last day of the thirtieth (30th) full calendar month following the Commencement Date. 
 1.22 “Extension Notice” has the meaning set forth in Section 3.3. 
 1.23 “Extension Option” has the meaning set forth in Section 3.2. 
  

 2 

 1.24 “Extension Optionee” has the meaning set forth in Section 3.4. 
 1.25 “Extension Period” has the meaning set forth in Section 3.2. 
 1.26 “Extension Period Fair Market Rent” has the meaning set forth in Section 3.6. 
 1.27 “Governmental Authority” means the United States, the state, county, city and political subdivision in which the Property is
located or that exercises jurisdiction over the Property, Landlord or Tenant, and any agency, department, commission, board, bureau or instrumentality of any of the foregoing that exercises jurisdiction over the Property, Landlord or Tenant.

 1.28 “Hazardous Materials” means any material, waste, chemical, compound, substance, mixture, or byproduct that is
identified, defined, designated, listed, restricted or otherwise regulated under Environmental Laws as a “hazardous constituent,” “hazardous substance,” “hazardous material,” “extremely hazardous material,”
“hazardous waste,” “acutely hazardous waste,” “hazardous waste constituent,” “infectious waste,” “medical waste,” “biohazardous waste,” “extremely hazardous waste,”
“pollutant,” “toxic pollutant,” or “contaminant,” or any other formulation intended to classify substances by reason of properties that are deleterious to the environment, natural resources or public health or safety
including, without limitation, ignitability, corrosiveness, reactivity, carcinogenicity, toxicity, and reproductive toxicity. The term Hazardous Materials shall include, without limitation, the following: 
 (a) a “Hazardous Substance,” “Hazardous Material,” “Hazardous Waste,” or “Toxic Substance” under the
Comprehensive Environmental Response, Compensation and Liability Act of 1980, 42 U.S.C. Section 9601, et seq., the Hazardous Materials Transportation Act, 49 U.S.C. Section 5101, et seq. or the Solid Waste Disposal Act, 42 U.S.C.
Section 6901, et seq., including any regulations promulgated thereunder, as any of the foregoing may be amended; 
 (b) an
“Acutely Hazardous Waste,” “Extremely Hazardous Waste,” “Hazardous Waste,” or “Restricted Hazardous Waste,” under Section 25110.02, 25115, 25117 or 25122.7 of the California Health and Safety Code, or
listed pursuant to Section 25140 of the California Health and Safety Code, as any of the foregoing may be amended; 
 (c) a
“Hazardous Material,” “Hazardous Substance” or “Hazardous Waste” under Section 25117, 25260, 25281, 25316, 25501, or 25501.1 of the California Health and Safety Code, as any of the foregoing may be amended;

 (d) “Oil” or a “Hazardous Substance” under Section 311 of the Federal Water Pollution Control Act, 33 U.S.C.
Section 1321, as may be amended; as well as any other hydrocarbonic substance, fraction, distillate or by-product; 
 (e) any substance
or material defined, identified or listed as an “Acutely Hazardous Waste,” “Extremely Hazardous Material,” “Extremely Hazardous Waste,” 

  

 3 

 
“Hazardous Constituent,” “Hazardous Material,” “Hazardous Waste,” “Hazardous Waste Constituent,” or “Toxic
Waste” pursuant to Division 4.5, Chapters 10 or 11 of Title 22 of the California Code of Regulations, as may be amended; 
 (f) any
substance or material listed by the State of California as a chemical known by the State to cause cancer or reproductive toxicity pursuant to Section 25249.8 of the California Health and Safety Code, as may be amended; 
 (g) a “Biohazardous Waste” or “Medical Waste” under Sections 117635 or 117690 of the California Health and Safety Code, as may
amended; 
 (h) mold; 
 (i)
asbestos and any asbestos containing material; and/or 
 (j) a substance that, due to its characteristics or interaction with one or more
other materials, wastes, chemicals, compounds, substances, mixtures, or byproducts, damages or threatens to damage the environment, natural resources or public health or safety, or is required by any law or public entity to be remediated, including
remediation which such law or public entity requires in order for property to be put to any lawful purpose. 
 1.29 “Holdover
Period” has the meaning set forth in Section 17.3. 
 1.30 “Insurance Requirements” means the requirements,
whether now or hereafter in force, of any insurer, the local Board of Fire Underwriters and Fire Insurance Rating Organization or any other organization performing the same or similar functions, applicable to the Premises, or the use or manner of
use thereof. 
 1.31 “Land” means that certain parcel of land located in the City of Mountain View, Santa Clara County,
California identified as parcel Number 16 060 013 in the land records of Santa Clara, aggregating approximately 10.6 acres of land area and appurtenances thereto of every kind and description, which parcel of land is more particularly described on
Exhibit A attached hereto and made a part hereof. 
 1.32 “Landlord Affiliate” means any firm, corporation or
other entity directly or indirectly controlled by, in control of or under common control with Landlord. 
 1.33 “Landlord Party”
or “Landlord Parties” means (1) any Landlord Affiliate, (2) any principal, director, officer, employee, agent, consultant or contractor of Landlord or any Landlord Affiliate, or (3) any Mortgagee or any principal,
director, officer, employee, agent, consultant or contractor thereof. 
 1.34 “Landlord’s Restoration Work” has the
meaning set forth in Section 13.1. 
 1.35 “Legal Requirements” means all laws (including Environmental Laws),
statutes, ordinances, orders, rules, regulations and requirements and permits of any 

  

 4 

 
Governmental Authority, whether now or hereafter in force, applicable to the Premises, or the ownership, operation, occupancy, repair, maintenance or use
thereof. The term “Legal Requirements” shall include any requirements of Environmental Laws. 
 1.36 “Monetary
Default” has the meaning set forth in Section 15.1(a). 
 1.37 “Mortgage” means any mortgage, deed of trust,
deed to secure debt, or similar instrument encumbering fee title to the Premises (whether or not such mortgage shall also cover other real property) and any and all modifications, consolidations and extensions, renewals and replacements thereof.

 1.38 “Mortgagee” shall mean the holder of or beneficiary under, as applicable, any Mortgage. 
 1.39 “Non-Disturbance Agreement” means a subordination, non-disturbance and attornment agreement in the form of Exhibit B
attached hereto (subject to such commercially reasonable changes as the holder of such mortgage may reasonably propose in accordance with Section 21.2). 
 1.40 “notice” shall have the meaning set forth in Section 23.1. 
 1.41
“Outside Completion Date” has the meaning set forth in Section 13.2. 
 1.42 “Parking Areas” has the
meaning set forth in Section 6.3. 
 1.43 “Premises” means the Property and all easements, rights and appurtenances
with respect thereto. 
 1.44 “Prime Rate” means the per annum rate identified as the “Prime Rate” in the
“Money Rates” section of the Wall Street Journal (or comparable index, if such publication is discontinued). 
 1.45
“Prohibited Persons” has the meaning set forth in Section 32. 
 1.46 “Property” means, collectively,
the Land and the Buildings. 
 1.47 “Real Estate Taxes” means all real estate taxes, assessments and water and sewer rents,
general or special, ordinary or extraordinary, foreseen or unforeseen, of any kind or nature whatsoever to the extent assessed against the Property, but not income, franchise, sales, excess profit, transfer, inheritance or other taxes assessed
against Landlord’s income or profits from the Premises, the Property or otherwise. 
 1.48 “Rent” means, collectively,
Basic Rent and Additional Rent. 
 1.49 “Restoration Completion Estimate” has the meaning set forth in Section 13.1.

 1.50 “Successor” has the meaning set forth in Section 3.4. 
  

 5 

 1.51 “Support Equipment” has the meaning set forth in Section 7.2. 
 1.52 “Surrender Condition” has the meaning set forth in Section 9.1. 
 1.53 “Tenant Affiliate” has the meaning set forth in Section 3.4. 
 1.54 “Tenant Party” or “Tenant Parties” means (1) any Successor or Tenant Affiliate other than EMBP 455, L.L.C., a
California limited liability company, its successors and assigns (“EMBP 455”) in its capacity as owner, lessee or occupant of any real property that is adjacent to or in the vicinity of the Premises, (2) any principal,
director, officer, employee, agent, consultant, or contractor of Tenant or of any Successor or Tenant Affiliate other than EMBP 455 in its capacity as owner, lessee or occupant of any real property that is adjacent to or in the vicinity of the
Premises and (3) any invitee of Tenant or, if the Lease is assigned, or the Premises are sublet to any Successor or Tenant Affiliate, any invitee of such Successor or Tenant Affiliate, as the case may be. 
 1.55 “Tenant Property” means all furniture, equipment and other personal property of Tenant, including, without limitation, its data and
computer equipment, trade fixtures. Tenant Property excludes fixtures (other than trade fixtures) and Alterations. 
 1.56
“Tenant’s Prior Use” has the meaning set forth in Section 6.1. 
 1.57 “Term” has the meaning set
forth in Section 3.1. 
 1.58 “Unavoidable Delay” means any delay caused by strikes or other labor disputes, acts of
God, inability to obtain labor or materials, governmental actions or restrictions, enemy action, civil commotion, sabotage, terrorism, vandalism, fire and other casualty, judicial or other legal proceeding affecting performance hereunder, or similar
causes beyond the reasonable control of the responsible party. 
 1.59 “Untenantable” has the meaning set forth in
Section 13.1. 
 1.60 “Utilities” has the meaning set forth in Section 8.1. 
 1.61 “USA Patriot Act” has the meaning set forth in Section 32. 
 1.62 “Worth at the Time of Award” shall have the meaning set forth in Section 15. 
 2. DEMISE 
 2.1 In consideration of
the covenants set forth herein and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, Landlord hereby leases the Premises to Tenant, and Tenant hereby leases the Premises from Landlord, for the Term,
upon and subject to the terms and conditions set forth herein. 
 2.2 Landlord’s rights, title and interest in and to vault spaces, if
any, that are within or outside the boundary of the Land, but adjoining the Land and the Premises are included 

  

 6 

 
in the Premises and shall be available to Tenant for its use and enjoyment hereunder, provided that such use shall be at Tenant’s sole cost and expense
and shall be subject to and shall comply with all applicable Legal Requirements. 
 2.3 Tenant’s leasehold estate shall be burdened by,
and Tenant shall have the right to use and enjoy and otherwise benefit from, as the case may be, any easement, negative easement, restrictive covenant, or any other right or interest appurtenant to or burdening the Land as of the Effective Date
hereof. 
 3. TERM 
 3.1
The term of this Lease (the “Term”) shall commence on the Commencement Date and shall continue through and end at 11:59 p.m. on the Expiration Date, unless extended pursuant to this Section 3, in which case the Term shall
continue through and end at 11:59 p.m. on the last calendar day of the Extension Period (defined below). 
 3.2 Tenant shall have and is
hereby granted one (1) option (the “Extension Option”) to extend the Term of this Lease for a period commencing at 11:59 p.m. on the Expiration Date and ending on the fifth (5th) anniversary of the Expiration Date (such
period, the “Extension Period”). If the Extension Option is exercised, Tenant shall continue to lease the entire Premises during the Extension Period on the same terms, covenants and conditions as provided in this Lease, except that
the monthly Basic Rent during the Extension Period shall be the greater of (i) $2.75 per square foot of rentable area of the Premises (based on the rentable square feet of interior floor areas specified in the Recitals) and (ii) the
Extension Period Fair Market Rent (defined in Section 3.6 below). 
 3.3 The Extension Option must be exercised, if at all, by written
notice (the “Extension Notice”) given by Tenant to Landlord at least twelve (12) months prior to the date on which the Extension Period is to commence. If the Extension Notice is not so given, such Extension Option shall
automatically expire. 
 3.4 Notwithstanding anything above to the contrary, unless Landlord approves otherwise, the Extension Option is
personal to (i) VeriSign, Inc.; (ii) any other corporation or other entity which directly or indirectly controls, is controlled by or is under common control with VeriSign Inc. (a “Tenant Affiliate”), and (iii) a
successor corporation or other entity into which or with which Tenant is merged or consolidated or which acquires all or a substantial portion of Tenant’s assets located at, or the business conducted by Tenant in and from, the Premises
(a “Successor”) (collectively, items (i) through (iii), an “Extension Optionee”) and may be exercised only by the Extension Optionee (and not any sublessee or other transferee of Extension Optionee’s
interest in this Lease) and may not be exercised or be assigned, voluntarily or involuntarily, by any person or entity other than the Extension Optionee. The Extension Option is not assignable separate and apart from this Lease, nor may the
Extension Option be separated from this Lease in any manner, either by reservation or otherwise. 
 3.5 Tenant shall have no right to
exercise the Extension Option during the pendency of a default under this Lease. The period of time within which the Extension Option may be exercised shall not be extended or enlarged by reason of Tenant’s inability to exercise such Extension
Option because of the provisions of this Section 3.5. 
  

 7 

 3.6 On the first day of the fifteenth (15th) month prior to the date on which the Extension Period
would commence, if the Extension Option were to be exercised, Landlord shall give Tenant a written notice of Landlord’s good faith determination of the fair market Basic Rent for the Premises to be applicable during the Extension Period. In the
event that Tenant accepts Landlord’s determination or Landlord and Tenant reach an agreement of the amount of fair market rent for the extension period, Landlord and Tenant shall execute a written agreement as to such amount and such amount
shall constitute the Extension Period fair market Basic Rent. In the event that Landlord and Tenant fail to reach agreement on the fair market rent for the extension period, then the “Extension Period Fair Market Rent” shall be the fair
market rent last proposed by Landlord to Tenant in writing, and if Tenant is not satisfied with such “fair market rent,” Tenant may elect not to exercise the Extension Option. The fair market Basic Rent for the Premises during the
Extension Period as determined pursuant to this Section 3.6 shall constitute the “Extension Period Fair Market Rent.” 
 4. RENT 
 4.1 Tenant, throughout the following period of the Term, shall pay to Landlord basic rent (“Basic
Rent”) for the Premises at the following rates: 
  

													
	 Lease Period
	  	Basic Rent per
Rentable
Square Foot	  	Monthly Basic
Rent for 675
East
Middlefield
Road,
Mountain
View,
California	  	Monthly Basic
Rent for 685
East
Middlefield
Road,
Mountain
View,
California	  	Total Monthly
Basic Rent
	 Commencement Date – 06/30/09
	  	$	2.50	  	$	132,327.50	  	$	264,875.00	  	$	397,202.50
	 07/01/09 – 06/30/10
	  	$	2.60	  	$	137,620.60	  	$	275,470.00	  	$	413,090.60
	 07/01/10 – 12/31/10
	  	$	2.70	  	$	142,913.70	  	$	286,065.00	  	$	428,978.70

 During the Extension Period, if any, Tenant shall pay the amount of Basic Rent determined in accordance with
Section 3.2. 
 4.2 Monthly installments of Basic Rent shall be due and payable, in advance, on the Commencement Date and thereafter on
the first (1st) day of each calendar month during the Term (except that installments of Basic Rent for less than a full calendar month shall be pro-rated on a per diem basis). Basic Rent shall be payable, at Tenant’s election, by check or
wire transfer. Basic Rent is not subject to adjustment or recalculation based on any measurement or remeasurement of the Premises or Buildings. 
  

 8 

 4.3 Basic Rent shall be paid to Landlord (at Landlord’s address as provided in Section 23.2)
without notice or demand and without deduction, abatement or set-off of any kind, except as otherwise expressly provided in this Lease. 
 4.4 Tenant acknowledges and agrees that, subject to Sections 6.2, 9, 13 and 14, this Lease is intended by the parties to yield to Landlord the Basic Rent as and when due hereunder absolutely free or net of all expenses, costs and
charges (including, without limitation, Real Estate Taxes) allocable to the Term (including the Option Term, if applicable), which are in any manner associated with the operation, use, management, repair, maintenance, and insuring of the Premises
(including, without limitation, all costs and expenses incurred by Tenant in connection with satisfying Tenant’s operation, maintenance and repair obligations as set forth in Section 9.1 or by Landlord pursuant to Section 9.3, but not
including costs and expenses excluded under Section 9.4) (collectively, “Expenses”), all of which Expenses shall be paid by Tenant directly to the applicable utility companies, vendors and other entities to whom such Expenses
are owed, (except for (a) Real Estate Taxes, which shall be paid as Additional Rent by Tenant to Landlord in accordance with Section 5, (b) Landlord’s insurance required under Section 12, which shall be procured and paid for
by Landlord and reimbursed to Landlord by Tenant as Additional Rent in accordance with Section 12.7), and (c) Expenses reimbursable to Landlord pursuant to Section 9.3 below. However, the foregoing obligations shall be apportioned
between Landlord and Tenant as of the Commencement Date and the expiration of the Term, so that Tenant shall be obligated to pay only those portions of such payment obligations and liabilities that are allocable to the Term. Notwithstanding the
foregoing, however, Tenant shall not be obligated to pay any Expenses of: (i) repairing or maintaining the Premises to the extent excluded under Section 6.2 or Section 9; (ii) any Expenses for improving, remodeling or replacing
the Premises (except to the extent covered by Tenant’s indemnification obligations set forth in Section 19 below, but subject to Section 12.3); (iii) Expenses that are identified as an obligation of Landlord or otherwise excluded
from Tenant’s obligations under this Lease or (iv) expenses for insurance to the extent such insurance does not relate to the Premises or insures other property, none of which shall be due or payable as Additional Rent. 
 4.5 Basic Rent shall be paid to Landlord (at Landlord’s address as set forth in Section 23.2 as said address may be changed from time to time
by notice given under that section) without notice or demand and without deduction, abatement or set-off of any kind, except as otherwise expressly provided in this Lease. 
 5. REAL ESTATE TAXES 
 5.1 Tenant
shall pay, as Additional Rent, all Real Estate Taxes payable during the Term of this Lease in accordance with this Section 5. Landlord, at Landlord’s option, shall either (i) pay such Real Estate Taxes accruing during the Term of this
Lease directly to the taxing authority on or prior to the date due and Tenant shall reimburse Landlord therefor within thirty (30) days after receipt of a bill therefor from Landlord, which bill shall be accompanied by a copy of the tax bill to
which it relates or (ii) bill Tenant in advance for such Real Estate Taxes by delivering to Tenant a written notice therefor together with a copy of the tax bill to which it relates at least forty five (45) days prior to the date that such
Real Estate Taxes will become delinquent, in which case Tenant shall make payment to Landlord of the full amount of Real 

  

 9 

 
Estate Taxes shown in such bill within thirty (30) days following receipt of such notice and bill from Landlord or fifteen (15) days prior to the
date that such taxes will become delinquent, whichever is later. Landlord shall take the benefit of any statute or ordinance permitting Real Estate Taxes to be paid in installments, and the payments required hereunder shall be made in such
installments. Landlord shall be responsible for any interest or penalty resulting from Landlord’s delay in billing Tenant or Landlord’s delay in paying Real Estate Taxes to the taxing authority; Tenant shall be responsible for any interest
or penalty resulting from Tenant’s failure to make payment of Real Estate Taxes to Landlord or the applicable taxing authority as the case may be in accordance with the deadlines for payment set forth in this Section 5.1. 
 5.2 Tenant shall have the right to contest the amount or validity, in whole or in part, of any Real Estate Taxes, or to seek a reduction in the valuation
of the Property, or any part thereof, as assessed for Real Estate Tax purposes, by appropriate proceedings diligently conducted in good faith; provided that, Tenant must either pay any such taxes in protest, submit such bonds to the taxing
authorities or take such other action as may be prudent to prevent any loss or forfeit of the Property or any penalties. Landlord shall cooperate with any such tax reduction proceeding at Tenant’s sole cost and expense. Landlord shall notify
Tenant of any increase in the assessed valuation of the Property at least thirty (30) days before the last day for filing an objection thereto. Any refund of Real Estate Taxes that were paid by the Tenant during the Term or for a period
allocable to the Term shall promptly be paid to and be the property of Tenant. Tenant agrees to indemnify, defend and hold Landlord harmless from and against any claims, liabilities, damages, loss, expenses, costs to, or penalties incurred by,
Landlord arising from Tenant’s contesting any Real Estate Tax or seeking a reduction in the valuation of the Property pursuant to this Section 5.2. 
 5.3 Real Estate Taxes shall be apportioned between Landlord and Tenant for tax bills relating to the Term, so that Tenant shall be required to pay only the portion of the Real Estate Taxes allocable to the Premises
during the Term (including the Extension Period, if applicable), and Landlord shall pay the remainder of such Real Estate Taxes. 
 5.4
Anything in this Section 5 to the contrary notwithstanding, Tenant shall have no obligation to pay Real Estate Taxes which Landlord has failed to bill to Tenant for one year or more following the date such Real Estate Taxes were due and
payable. 
 6. USE AND COMPLIANCE 
 6.1 Tenant may use and occupy the Premises for the uses which Tenant made of the Premises prior to the Effective Date (“Tenant’s Prior Use”), and for office use, parking, storage and other uses ancillary thereto to the
extent that any such uses do not violate Legal Requirements or Insurance Requirements. Tenant shall have access to and from the Premises 24 hours a day, 7 days per week, throughout the Term. 
 6.2 Notwithstanding anything to the contrary, nothing in this Lease (including, without limitation, Section 4.5, this Section 6.2,
Section 9 and Section 19) shall be construed so as to require Tenant to repair, remedy or cure any condition (or to indemnify, defend or hold Landlord or any of the Landlord Parties harmless from or against any condition) that existed on
or before the Commencement Date (except to the extent that Tenant or any Tenant Party 

  

 10 

 
exacerbates such condition after the Commencement Date) or to make any payment or reimbursement therefor whether under Section 4.5 as Additional Rent or
otherwise, or so as to negate, impair or diminish Landlord’s agreement to accept the Property at the time of expiration or termination of this Lease in its “as is,” “where is,” “with all faults” condition as of the
Commencement Date. Tenant shall not be obligated to remediate, cure or improve any condition relating to the Premises (including any condition that constitutes a violation of Legal Requirements) that existed on the Commencement Date or to pay or to
reimburse Landlord for any costs thereof whatsoever (unless, and except to the extent that, Tenant or any Tenant Party exacerbates such existing condition after the Commencement Date). Without limiting the foregoing, Tenant shall not have any
obligation to remove or remediate any Hazardous Materials that exist on, in, at, under, beneath, emanating from, migrating to or from, or otherwise affecting the Property prior to the Commencement Date (unless, and except to the extent that, Tenant
or any Tenant Party exacerbates such existing condition after the Commencement Date). In no event shall the legal and regulatory compliance obligations of Tenant under this Lease be construed as requiring Tenant directly or indirectly to pay or
reimburse Landlord for legal or regulatory compliance costs not caused directly by Tenant’s business activities conducted on the Premises during the Term. Further, Tenant shall have no obligation to repair, remedy or cure or to indemnify,
defend or hold Landlord or any of the Landlord Parties harmless from or against any environmental or other condition of (including, without limitation, the presence of Hazardous Materials in, on, or about) any real property adjacent to, or in the
vicinity of, the Premises that is owned or leased by Tenant, any Tenant Parties or EMBP 455 or any of their respective affiliates, which condition existed on or before the Commencement Date and was known by or disclosed to Landlord, any Landlord
Affiliate, or its or their consultants prior to the Commencement Date, except to the extent that Tenant, any Tenant Party, EMBP 455 or any of their respective affiliates exacerbates such existing condition after the Commencement Date, and Landlord
releases Tenant, all Tenant Parties and EMBP 455 from all Claims related thereto (except as otherwise provided in this sentence above). For purposes of this Section 6.2, exacerbation of a condition shall not be deemed to include a failure to
repair, remedy or cure the condition of the Premises as such condition existed on or before the Commencement Date. 
 6.3 At all times during
the Term, Tenant and its employees shall have the right to use all surface and garage parking spaces in and on the Property (“Parking Areas”). All of such spaces shall be available on an exclusive, unassigned self-parking basis
without additional charge to Tenant, and Landlord shall not hold, reserve, assign or grant third party rights to any of such parking spaces. Tenant shall have the right to use at all times all common areas and appurtenant sidewalks, roadways and
other facilities located on the Property and serving the Premises and any and all other portions of the Property, including, without limitation, the lobby areas, hallways, stairways, elevators, lavatory facilities, and loading docks (collectively,
the “Common Areas”). 
 6.4 Landlord shall not close or change the common areas in a way as to alter or diminish the
quantity, quality, utility or character thereof or limit Tenant’s ease of access to or use of its Premises, except as provided below on a temporary basis, and then in a manner that minimizes any adverse impact on Tenant. Landlord reserves the
right from time to time to temporarily use any of the Common Areas for the purpose of making repairs in or to the Buildings or Common Areas that are within the scope of Landlord’s repair obligations under 

  

 11 

 
Section 9.2 of this Lease or are within the scope of Landlord’s obligations to comply with any law or regulation or in connection with the exercise
of its other rights set forth in Section 27 of the Lease below, as long as such acts do not unreasonably interfere with Tenant’s use of or access to the Premises. Landlord may close temporarily such portions of the Common Areas and Parking
Areas as Landlord reasonably requires to make such repairs or as may be required in connection with the exercise of its other rights set forth in Section 27 below. Notwithstanding the foregoing, however, during the Term (including, without
limitation the Extension Period, if any), Landlord shall not be entitled to make and such reservation shall not include the right to make any improvements or alterations to the Buildings, the Common Areas or the Parking Areas or to make any changes
in the location, size, shape and number of driveways, entrances, stairways, elevators, loading and unloading areas, ingress, egress, direction of traffic, landscaped areas and walkways and, parking spaces and parking areas unless such changes are
required to be made during the Term (or any Extension Term) for the use of the Premises by Tenant or such changes are required by Legal Requirements or Insurance Requirements or to maintain the safety of persons and property at the Premises. During
the Term (or any Extension Term), Landlord shall not make any other changes with respect to the Buildings, the Common Areas or the Parking Areas, unless Tenant consents thereto in its sole discretion. Tenant hereby agrees that Landlord’s
actions consistent this Section 6.4 shall not constitute a constructive eviction of Tenant nor entitle Tenant to any abatement of Rent. Landlord shall have no responsibility or for any reason be liable to Tenant for any direct or indirect
injury to or interference with Tenant’s business arising from Landlord’s actions with respect to this Section 6.4, nor shall Tenant be entitled to any compensation or damages from Landlord for loss of the use of the whole or any part
of the Premises or of Tenant’s personal property or improvements resulting from Landlord’s actions with respect to this Section 6.4, or for any inconvenience or annoyance occasioned by Landlord’s actions with respect to this
Section 6.4, unless due to the gross negligence or willful misconduct of Landlord. 
 6.5 Tenant hereby agrees to accept the Premises
and the Property in their “AS IS,” “WHERE IS,” “WITH ALL FAULTS” condition existing as of the Commencement Date, subject to all applicable zoning, municipal, county and state laws, ordinances and regulations governing
and regulating the use of the Premises (provided that Tenant’s compliance obligations shall be limited as set forth in Section 6.2), and any covenants or restrictions of record, and accepts this Lease subject thereto and to all matters
disclosed thereby and by any exhibits attached hereto. Tenant also acknowledges that neither Landlord nor any agent of Landlord has made any representation or warranty regarding the present or future condition or suitability of all or any portion of
the Premises or the Property for the conduct of Tenant’s business. Tenant hereby acknowledges that Landlord shall not be obligated to provide or pay for any improvement work or services related to the improvement of the Premises except as
expressly provided in Section 9.2 below. 
 6.6 Tenant shall have the right, after notice to Landlord, to contest by appropriate legal
proceedings, diligently conducted in good faith, the validity or application of any and all Legal Requirements or Insurance Requirements with which Tenant is obligated to comply pursuant to the provisions of Section 6 hereof; provided
that, Tenant must either submit such bonds to the applicable Governmental Authority or take such other action as may be necessary to prevent any loss to or forfeiture of the Premises or penalty. Tenant agrees to 

  

 12 

 
indemnify, defend and hold harmless Landlord from and against any claim, liability, loss cost or expense arising from Tenant’s contesting the validity
or application of any such Legal Requirement or Insurance Requirement pursuant to this Section 6.6. Landlord shall provide reasonable cooperation to Tenant (at Tenant’s sole cost and expense) in connection with the exercise by Tenant of
its rights under this Section 6.1, including, without limitation, executing any application or document that may be reasonably required to be executed by Landlord in connection therewith; provided that, in no event will Landlord be obligated to
execute any application or other document for any change to the zoning or entitlement for the Property or to approve any change to the zoning or entitlement for the Property or to take any other action that may materially adversely affect the use or
value of the Property as determined by Landlord in its reasonable discretion. 
 6.7 Landlord shall reasonably cooperate with Tenant in
connection with Tenant’s rights and obligations under this Section 6, including, without limitation, executing any application or document that may be reasonably required to be executed by Landlord in connection therewith; provided that,
in no event will Landlord be obligated to execute any application or other document for any change to the zoning or entitlement for the Property or to approve any change to the zoning or entitlement for the Property or to take any other action that
may materially adversely affect the use or value of the Property as determined by Landlord in its reasonable discretion. 
 7.
INSTALLATIONS OF TENANT PROPERTY 
 7.1 At any time during the Term, Tenant may, without incurring any liability to Landlord for payment
of rent or otherwise, but at Tenant’s sole cost and risk and subject to the other terms and provisions of this Lease (including, without limitation, provisions obligating Tenant to comply with Legal Requirements and Insurance Requirements),
place and install Tenant Property in and upon the Premises. During the Term hereof, Tenant shall pay, prior to delinquency, all business and other taxes, charges, notes, duties, and assessments levied, and rates or fees imposed, charged, or assessed
against or in respect of Tenant’s occupancy of the Premises or in respect of Tenant Property (including, without limitation, taxes and assessments attributable to the cost or value of any leasehold improvements made in or to the Premises during
the Term by or for Tenant), and shall indemnify, defend and hold Landlord harmless from and against all payment of such taxes, charges, notes, duties, assessments, rates, and fees, and against all loss, costs, charges, notes, duties, assessments,
rates, and fees, and any and all such taxes. Tenant shall cause Tenant Property to be assessed and billed separately from the real and personal property of Landlord. 
 7.2 Landlord grants an irrevocable license to Tenant throughout the Term to install, maintain, repair, replace, remove and use cables, utility boxes, lines, wires, devices, generators, facilities and appurtenances
(collectively, “Support Equipment”) in, on or about the locations of the Property where the same are located on the Commencement Date, including, without limitation, within conduits and risers and any existing data rooms to the
extent the same are used or are necessary for the operation of Tenant’s internet, router, server, data and computer equipment. During the Term, Tenant shall have the right to use the existing Support Equipment serving the Premises and to run
its data and computer cabling into and between the floors of the 

  

 13 

 
Premises. Landlord shall cause any and all work being performed by Landlord or by any third party or by any of its and their contractors to be performed so
as not to sever or interfere with such Support Equipment or with Tenant’s use of risers and conduits. Except in the event of an emergency, Landlord shall provide Tenant with not less than ten (10) days prior notice of any work (with
details as to the location and scope of such work) that could cause such severing or interference. During such period, Tenant shall undertake commercially reasonable efforts to identify such Support Equipment that may be affected by such proposed
work by tagging or other practical protective measures. 
 8. UTILITIES AND SERVICES 
 8.1 Tenant, throughout the Term, shall be solely responsible to arrange for all services and utilities (including, without limitation, electricity, water,
sewerage, gas and telecommunications) necessary or desirable for Tenant in connection with its operations at the Property (the “Utilities”) at the sole cost, risk, and expense of Tenant. 
 8.2 Landlord shall have no obligation to provide for or pay for any Utilities, nor shall Landlord unreasonably interfere in any manner with Tenant’s
access to or use or enjoyment of any Utilities at any time during the Term. 
 9. REPAIR AND MAINTENANCE; EXPENSES 
 9.1 Subject to Section 6.2, and except for Landlord’s obligations under Section 9.2, Tenant shall at all times during the Term and at
Tenant’s sole cost and expense, operate, clean, maintain, repair, and preserve the Premises, including without limitation the roof, plumbing, heating, ventilating, air-conditioning, sprinkler and electrical systems within the Buildings
(“Building Systems”) and the Parking Areas, as and to the extent necessary to keep them in their condition as of the Effective Date, reasonable wear and tear, casualty and condemnation excepted (such condition, the
“Surrender Condition”), and, subject to the limitations set forth in Section 6.2, in compliance with all applicable Legal Requirements and Insurance Requirements. Notwithstanding the foregoing, Tenant’s obligations to
repair the Premises shall include only ordinary non-capital repairs ancillary to Tenant’s maintenance and preservation obligations, but shall not include (i) extraordinary repairs, or repairs or replacements the expenditure for which would
be considered a “capital expenditure” or “capital expense” under generally accepted accounting principles, (ii) structural replacements or improvements, (iii) repairs or replacements that could reasonably be deferred
until expiration of the Term without causing waste or degradation of the condition of the Premises below the Surrender Condition, (iv) repairs or replacements that are covered by insurance maintained or required to be maintained by Landlord,
and (v) repairs or replacements arising as a consequence of casualty or condemnation. Tenant shall perform its foregoing obligations to operate, clean, maintain, repair, and preserve the Premises to the standard of similar first-class office
buildings in the geographical area of the Buildings. To the extent possible, Landlord will cause Tenant to have the benefit of any guaranty or warranty to which Landlord is entitled relating to components of the Premises that Tenant is required to
operate, maintain, repair, and preserve. The foregoing does not nullify or modify the Tenant’s obligation to pay to Landlord “Expenses” incurred by Landlord to the extent such payment is required under the terms of Sections 9.3 and
9.4 below (including the obligation to pay the amortized portion of capital expenditures that are incurred by Landlord and that are allocable to the Term of this Lease). 
  

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 9.2 Landlord shall at its expense (but subject to Sections 9.3 and 9.4 below), maintain and repair
the structural portions of the Buildings to the extent that such maintenance and repairs constitute extraordinary repairs, or repairs or replacements the expenditure for which would be considered a “capital expenditure” or “capital
expense” under generally accepted accounting principles, including, without limitation, all portions of the roof, roof structures and supports, the foundation and structural supports, exterior and load bearing walls, subfloors and floors (but
not floor coverings), the Building Systems and standard conduits, connections and distribution systems thereof within the Premises (but not any Support Equipment or Tenant’s Property) to the standard of similar first-class office buildings in
the geographical area of the Buildings and in compliance with all applicable Legal Requirements and Insurance Requirements. Landlord’s obligations under this Section 9.2 shall not include maintenance and repairs within the scope of
Tenant’s maintenance, repair and preservation obligations set forth in Section 9.1. Except in the case of maintenance and repairs that must be performed on an emergency basis or that are requested in writing by Tenant, Landlord shall give
Tenant advance written notice of at least twenty (20) days prior to performing any maintenance or repair under this Section 9.2. Unless otherwise approved by Tenant in writing, Landlord shall defer any or all maintenance, repairs or
replacements that could reasonably be deferred until expiration of the Term without causing waste, degradation of the condition of the Premises below the Surrender Condition or imposition on Landlord of a fine, penalty or loss of insurance coverage
based on noncompliance with applicable Legal Requirements or Insurance Requirements. Landlord shall not be permitted to make alterations or improvements to the Premises during the Term or perform maintenance or repairs that are not required under
this Section 9.2, except following not less than 30 days’ prior written notice during the last twelve (12) months of the Term, if Tenant has waived its Extension Option in writing, or during the last twelve (12) months of the
Extension Period, and then, in each such case, only in a manner that does not interfere with or disturb Tenant’s access, use, occupancy and quiet enjoyment of the Premises. 
 9.3 Subject to Section 6.2 and except as provided in Section 9.4 below: (i) actual
out of pocket expenses incurred by Landlord in the performance of Landlord’s obligations under Section 9.2 (but not including any maintenance, repairs or replacements to be deferred until expiration of the Term under the standards set
forth in Section 9.2) shall be “Expenses” and (ii) shall be paid or reimbursed to Landlord by Tenant as Additional Rent on the first calendar day of each month during the Term (provided written demand for payment accompanied by
reasonably detailed supporting documentation of such Expenses is made to Tenant at least thirty (30) days prior to such 1st calendar day,
otherwise on the 1st calendar day of the next month and further provided that the amortized portion of any capital expenditure allocable to the Term
and permitted to be an Expense shall be due and payable in monthly installments during the remaining Term and not as a lump sum) and such Expenses may include, without limitation, the following: 
 (a) All supplies, materials and tools used exclusively in connection with the Premises and the performance of Landlord’s obligations under
Section 9.2; 
  

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 (b) The cost of repair (but not replacement) of the Chiller, but only to the extent required to keep the
Chiller fully and properly operational during the Term; 
 (c) The cost of any capital expenditure made to the Premises by Landlord after
the date of this Lease which are required by Legal Requirements or Insurance Requirements that were not in effect as of the Effective Date or, subject to Section 9.4(c), to keep the Premises in a safe condition or in the Surrender Condition;
provided that, the cost of any such capital expenditure or improvement shall be amortized on a straight-line basis over the useful life (as determined by Landlord) of such capital expenditure or improvement following such repair or replacement,
together with interest at the Prime Rate plus two percent (2%) per annum on the unamortized balance thereof from time to time, and only the amortized portion of such expenditure, plus interest, during the Term will constitute an
“Expense” hereunder; provided, further however that any capital expenditure or improvement which costs less than $25,000 shall be expensed in the year in which incurred and treated as “Expenses” in such year; and 
 (d) The cost of licenses, certificates, permits and inspections for the performance of obligations required to be performed by Landlord under
Section 9.2. 
 9.4 Notwithstanding anything to the contrary, the following items shall be excluded from Expenses and Tenant shall not
be charged or required to reimburse Landlord therefor under any provision of this Lease: 
 (a) Expenses for repairs or replacements that
reasonably could be deferred until expiration of the Term (or, as applicable, the Extension Term) while maintaining the Surrender Condition described in (and pursuant to) Section 9.1 and without causing waste to the Premises, degradation of the
condition of the Premises below the Surrender Condition or imposition on Landlord of a fine or penalty or resulting in the loss of insurance based on noncompliance with Legal Requirements or Insurance Requirements; 
 (b) Expenses that are not incurred for the performance of obligations required to be performed by Landlord under Section 9.2; 
 (c) Expenses for replacements of components or items that reasonably could be repaired at a lower cost; 
 (d) Wages, salaries, and any and all taxes, insurance and benefits of any property manager or other management employees of or employed by Landlord or
any Landlord Affiliate; 
 (e) Any capital costs and expenses, including, without limitation, any, capital replacements, capital repairs or
other capital items, that are not expressly permitted to be included as Expenses under Section 9.3 above; 
 (f) Costs or expenses of
repairs made in connection with casualty or condemnation; costs or expenses of repairs and restoration paid for by the proceeds of any insurance policies and costs or expenses that would be reimbursable under insurance required to be maintained by
Landlord under this Lease; 
  

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 (g) Financing costs or depreciation; 
 (h) The costs resulting from Hazardous Materials which (i) existed on the Property on or before the Effective Date (except to the extent any such
condition is exacerbated by Tenant or any Tenant Parties), and/or (ii) were placed within the Property by Landlord or Landlord Parties; 
 (i) Interest and penalties resulting from Landlord’s failure to pay Expense when due; and 
 (j) Costs or expenses arising
from the gross negligence or willful misconduct of Landlord or Landlord Parties. 
 (k) Depreciation or amortization of the Buildings or
equipment in the Buildings; 
 (l) Loan principal and interest payments; 
 (m) Amounts constituting either or both the deductible portion of insurance or self-insured risks; 
 (n) Costs or expenses (including fines, penalties and legal fees) incurred due to the violation by Landlord or any Landlord Parties of any terms and
conditions of this Lease, or of any applicable laws that would not have been incurred but for such violation; and 
 (o) Penalties for any
late payment by Landlord, including, without limitation, taxes and equipment leases. 
 9.5 If Tenant disputes the amount of any Expenses for
which Landlord is requesting payment or reimbursement from Tenant, Tenant may inspect and copy Landlord’s books and records relating to the Premises and, in addition, may at its sole expense, except as provided below, designate a consultant to
do so who must be a member of a reputable accounting firm or management company and must not charge a fee based on the amount of Expenses that such consultant is able to save the Tenant. Tenant shall give not less than seven (7) days’
prior written notice to Landlord of the request for inspection, and the inspection must be conducted in Landlord’s offices during normal business hours. Tenant and such consultant shall maintain in strict confidence any and all information
obtained in connection with the review and shall not disclose any such information to any person or entity other than to management personnel of Tenant, except for (i) information that is or becomes available to the public other than as a
result of a disclosure pursuant to this Section 9.5, (ii) information that is or becomes available to Tenant on a non-confidential basis from another source which, to the best of Tenant’s knowledge, is not subject to a confidentiality
agreement with Landlord, (iii) information that is or was known by Tenant prior to its disclosure by Landlord, (iv) disclosures required by applicable law, subpoena or any court, agency, regulatory or supervisory authority having
jurisdiction or (v) disclosures required in connection with the enforcement of Tenant’s rights under this Lease. The period during which Tenant or its consultant may inspect and copy 

  

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Landlord’s books and records shall end on the ninetieth (90th) day following the date on which Tenant or its consultant shall have begun its
inspection and Landlord shall have provided Landlord’s books and records relating to such Expenses and payment or reimbursement request to Tenant or its consultant for inspection and copying. If, after any such inspection, Tenant still disputes
any such Expense payment or reimbursement request, and if Landlord disagrees with the results of Tenant’s review, then Landlord and Tenant shall together select a neutral auditor having not less than ten (10) years’ experience in
managing or auditing properties of a type similar to the Premises and who is otherwise qualified to conduct a review of such books and records (the fees of such neutral auditor to be shared equally by Landlord and Tenant), and the determination of
Expenses reached by such neutral auditor shall be final and conclusive. If the parties do not agree on such selection within fifteen (15) days following written notice by Tenant to Landlord of its election to cause such an auditor to conduct
such review, then Tenant may request appointment of such an auditor by the American Arbitration Association (or any successor organization thereto) in accordance with its rules then prevailing, or if the American Arbitration Association (or such
successor organization) shall fail to appoint such auditor within fifteen (15) days after such request is made, then Tenant may apply, on notice to Landlord, to any court having jurisdiction for the appointment of such auditor. If the amounts
paid by Tenant to Landlord on account of Expenses exceed the amounts to which Landlord is entitled hereunder, then Landlord shall, upon its final determination, credit the amount of such excess toward the next monthly payment(s) of Rent due
hereunder. All costs and expenses of any such review shall be paid by Tenant; provided, however, that if the aggregate amount of Expenses set forth in any such statement was overstated by Landlord by more than five percent (5%), Landlord shall
reimburse Tenant for the commercially reasonable, out of pocket hourly or flat fee costs and expenses paid by Tenant in connection with Tenant’s review and, if applicable, the costs of causing the appointment of and review by such auditor.
Notwithstanding anything to the contrary stated in this Lease, Tenant shall not be permitted or have the right to challenge any particular Expense (or inspect Landlord’s books and records with respect to any such Expense) if Tenant fails to
deliver to Landlord written notice either challenging such Expense or requesting access to Landlord’s books and records with respect to such Expense in connection with a potential challenge within ninety (90) days after Landlord first
delivers to Tenant its demand for payment of such Expense. Tenant will diligently pursue any such inspections and challenges permitted hereinabove in an expeditious manner. 
 9.6 Except as otherwise expressly provided in this Lease, Tenant hereby waives all rights it would otherwise have under California Civil Code Sections
1932(1) and 1942(a) or any successor statutes to deduct repair costs from rent and/or terminate this Lease as the result of any failure by Landlord to maintain, repair or replace the Premises. If Landlord fails to perform any of its repair,
replacement and maintenance obligations under Section 9.2 or otherwise as required in this Lease, and such failure materially affects Tenant’s ability to use and occupy the Premises for the purposes permitted herein, Tenant shall have the
right, but not the obligation, to perform such repairs, replacements and/or maintenance if such failure continues for more than ten (10) days after the second written notice from Tenant to Landlord; provided, however, that if the
nature of the repairs, replacements and/or maintenance to be completed by Landlord is such that more than ten (10) days are reasonably required to complete such repairs, replacements and/or maintenance, then Landlord shall have such additional
time as is reasonably necessary to complete such repairs, replacements and/or maintenance so long as Landlord takes 

  

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appropriate action to commence such repairs, replacements and/or maintenance within such ten (10) day period and thereafter diligently pursues such
repairs, replacements and/or maintenance to completion. In such event, Landlord shall reimburse Tenant for the reasonable costs incurred by Tenant to complete such repairs, replacements and/or maintenance within ten (10) days after receipt of
Tenant’s written demand therefor and supporting documentation evidencing such expenditures, together with interest thereon at the Default Rate from the date such expenditures are made by Tenant until paid by Landlord. In the event of an
emergency, Tenant shall be empowered to undertake immediate repairs of such nature as would be Landlord’s responsibility and notify Landlord promptly after such repairs have been undertaken and seek reimbursement from Landlord as provided
herein. 
 10. MECHANICS’ AND OTHER LIENS. Tenant shall not suffer or permit any mechanics’ or other liens to be recorded or
filed against the Premises or any part thereof or against the interests therein of Landlord or Tenant as a result of any work performed by or on behalf of Tenant during the Term. If any such lien shall at any time be recorded or filed against the
Premises or any such interest therein, Tenant shall cause the same to be discharged of record within thirty (30) days after Tenant receives notice of the recording or filing of the same. Tenant shall have the right, after notice to Landlord, to
contest by appropriate legal proceedings, diligently conducted in good faith, the amount or validity of any such mechanics’ or other lien filed against the Premises, provided that such contest shall not abrogate Tenant’s obligation to
cause such lien to be discharged of record as provided in this Section 10. Tenant agrees to indemnify, defend and hold Landlord harmless from and against any losses or costs to, or penalties incurred by, Landlord arising from Tenant’s
contesting any mechanics’ or other lien filed against the Premises or any part thereof or against the interest therein of Landlord or Tenant’s failure to cause the same to be discharged of record within thirty (30) days after Tenant
receives notice of the recording or filing of the same. Tenant’s obligations under this Section 10 shall survive the expiration or earlier termination of this Lease. 
 11. ALTERATIONS 
 11.1 Title to all
improvements constructed by Tenant within the Premises following the Commencement Date shall be and remain in Tenant for and during the entire Term of this Lease, and on the expiration or earlier termination of this Lease, Tenant hereby covenants
and agrees that the sole right to possess and use the same (but not Tenant’s Property) shall automatically pass to and be vested in Landlord without payment or consideration of any kind, unless Landlord provides Tenant with written notice at
the time Landlord approves such improvements, that Landlord shall require Tenant to remove such improvements (or a specified portion thereof) at its sole cost and expense prior to the expiration of the Term, or to the extent permitted under the
terms of this Lease any earlier termination of the Term, provided that Tenant is afforded a reasonable advance notice of such earlier termination to effect such removal. 
 11.2 Tenant shall have the right, at any time and from time to time during the Term of this Lease, to make, at its sole cost and expense Alterations to the Premises, subject, however, in all cases, to the following:

 (a) All Alterations shall be made promptly in a good and workmanlike manner on a lien-free basis and in compliance with all applicable
Legal Requirements, and any national or local Insurance Rating Bureau, or any other body hereafter exercising similar functions. 
  

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 (b) The cost of all Alterations shall be paid by Tenant, so that the Property shall at all times be free
from all liens for labor and material supplied or claimed to have been supplied to the Premises and free from all liens, encumbrances or security interests. 
 (c) Tenant shall not make any Alterations (i) to any portion of the Property described in Section 9.2, without Landlord’s prior written approval (including approval of all plans and specifications) to
be given or withheld in Landlord’s sole and absolute discretion, (ii) to the exterior of the Buildings or Property if such Alterations would change the appearance of the Property or any part thereof, or (iii) that are not included in
clauses (i) or (ii) above but cost more that Fifty Thousand Dollars ($50,000) without Landlord’s prior written approval (including approval of all plans and specifications, if any), which approval shall not be unreasonably withheld,
conditioned or delayed. Within fifteen (15) days after the receipt of plans and specifications from Tenant requiring Landlord’s approval, Landlord shall notify Tenant in writing of its approval of the plans and specifications or the
reasons for its rejection thereof. Landlord shall be deemed to have approved such plans and specifications or such Alterations if it fails to give Tenant a rejection notice within fifteen (15) days after receipt by Landlord of Tenant’s
plans and request for approval. 
 11.3 Except as expressly set forth in this Lease, Landlord shall have no right to make any Alterations to
the Premises (as distinguished from repairs and maintenance) without the prior written consent of Tenant, which consent Tenant may grant or withhold in its reasonable discretion. 
 11.4 Landlord, at Tenant’s sole cost and expense, shall provide reasonable cooperation with Tenant with respect to Tenant’s efforts to secure
building and other permits or authorizations that may be required from time to time by Tenant in connection with the performance of any Alterations. Any reasonable costs incurred by Landlord in connection with Landlord’s (or Landlord’s
construction consultant’s) review of any plans submitted to Landlord by Tenant shall be paid by Tenant as Additional Rent upon thirty (30) days written demand therefore by Landlord. 
 12. INSURANCE 
 12.1 At all times
during the Term hereof, Tenant shall, keep in full force and effect: 
 (a) a policy of commercial general public liability insurance with
respect to the Premises, and the business operated by Tenant in the Premises, in which the primary coverage per accident or occurrence is not less than Five Million Dollars ($5,000,000.00) combined single limit; and 
 (b) a policy of “all-risk” insurance so as to cause all of the Tenant Property to be insured against loss or damage by fire, wind, sprinkler
leakage, vandalism, malicious mischief, flood and such other hazards as are from time to time included in a standard 

  

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extended coverage endorsement, in an amount and form so that the proceeds thereof are sufficient to provide for actual replacement in full of the Tenant
Property (i.e., full replacement cost). 
 Nothing in this Section 12 shall prevent Tenant from carrying any of the insurance required of Tenant
hereunder in the form of self-insurance (provided Tenant shall have liquid assets of One Hundred Million Dollars ($100,000,000) or more), or blanket policies of insurance. 
 12.2 At all times during the Term hereof, subject to Section 12.5 below, Landlord shall keep in full force and effect: 
 (a) a policy of commercial general public liability insurance with respect to the Property, in which the primary coverage per accident or occurrence is
not less than Five Million Dollars ($5,000,000.00) combined single limit; and 
 (b) policy of insurance “all-risk” so as to cause
all of the Buildings and other improvements located within the Property to be insured against loss or damage by fire, wind, sprinkler leakage, earthquake, terrorist acts, vandalism, malicious mischief, flood and such other hazards as are from time
to time included in a standard extended coverage endorsement, in an amount and form so that the proceeds thereof are sufficient to provide for actual replacement in full of the Buildings and improvements (i.e., full replacement cost). Such
coverage shall include rental loss coverage for a period of at least twelve (12) months. Landlord shall have no obligation to insure, and shall not be responsible for, Tenant’s Property. 
 12.3 With respect to the insurance policies maintained by Landlord and Tenant pursuant to Sections 12.1 and 12.2, respectively, each party shall
look first to any insurance in its favor before making any claim against the other party for recovery for loss or damage resulting from fire or other casualty and, to the extent permitted by law, Landlord and Tenant each hereby releases and waives,
to the extent that the party sustaining such loss is compensated for such loss by insurance, all right of recovery against the other or anyone claiming through or under each of them by way of subrogation or otherwise. 
 12.4 Tenant (and Landlord, if Landlord has any employees), shall maintain (i) Worker’s Compensation insurance as required by any applicable law
or regulation and in accordance with the laws of the state, territory or province having jurisdiction over Tenant’s employees, (ii) Employer’s Liability insurance with limits of One Million Dollars ($1,000,000) and (iii) Business
Automobile Liability insurance covering all owned, rented (hired) and non-owned vehicles used in connection with this Lease or the Premises having limits of One Million Dollars ($1,000,000) each accident for bodily injury and property damage.

 12.5 The policies required under Section 12.1(b) and Section 12.2(b) shall permit the waivers set forth in Section 12.3,
and the policies required under Sections 12.1(a) and 12.4 shall name Landlord, Landlord Parties and Landlord’s lender as additional insureds with respect to liability arising out of the activities of Tenant, shall be deemed primary
coverage as to any insurance carried by Landlord and such other additional insureds, and shall contain a clause that the insurer will not cancel or materially change the insurance without first giving the Landlord thirty (30) days prior written
notice. A copy of the certificates of the insurers 

  

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evidencing the maintenance of such insurance policies shall be delivered to Landlord and Tenant, as applicable, prior to the Commencement Date, and, upon
renewals, no later than 21 days after the expiration of a coverage period. 
 12.6 All insurance required hereunder shall be issued by
insurance companies having a rating of not less that A-VIII in Best’s Insurance Guide (or which is otherwise acceptable to the non-insuring party hereunder) and licensed to do business in the State of California. If Tenant fails to procure and
maintain any insurance required to be procured and maintained by Tenant pursuant to this Lease, or to deliver certificates of insurance as required by this Lease, Landlord may, at its option, procure such insurance policies for the account of
Tenant, and the cost thereof shall be paid to Landlord as Additional Rent within five (5) days after delivery to Tenant of the bills therefore. 
 12.7 Expenses for insurance required to be maintained by Landlord under this Section 12 shall be reimbursed by Tenant within ten (10) days following written notice by Landlord containing an invoice of the
amount thereof, accompanied by reasonable supporting documentation for all such insurance premium Expenses. All insurance required to be maintained by Tenant under this Lease shall be maintained at Tenant’s sole cost and expense. 
 13. DAMAGE OR DESTRUCTION 
 13.1 If,
at any time during the Term, the Premises (including, without limitation, any of the Buildings or other improvements therein or thereon) or any part thereof (collectively, the “Damaged Property”) is damaged by fire, earthquake,
flood or by any other casualty of any kind or nature (a “Casualty”) then, unless this Lease is terminated as hereinafter provided in this Section 13.1, Landlord shall proceed diligently to rebuild or restore the Damaged
Property at Landlord’s sole cost and expense; provided, that, in no event shall Damaged Property include, nor shall Landlord or Tenant have any obligation to rebuild or restore, any of the Tenant Property (unless such Casualty is caused by the
gross negligence or willful misconduct of Landlord). Such rebuilding and restoration work required of Landlord is herein collectively called “Landlord’s Restoration Work.” If any Casualty shall render the Premises completely or
partially Untenantable for any period, then, provided that such Casualty was not caused by the gross negligence or willful misconduct of Tenant or any Tenant Parties, Basic Rent shall be abated (in the proportion that the rentable portion of the
Untenantable area of the Premises bears to the total rentable area of the Premises for the period of such untenantability) until (10) days after the date that the Premises (or such portion thereof) is no longer Untenantable and Landlord has
given written notice to Tenant that the Premises have again been rendered fully tenantable and a certificate of occupancy for the Premises, as restored following such fire or other casualty, has been obtained (if such certificate is required by
applicable law). The term “Untenantable,” when used with respect to the Premises, or any portions thereof, shall mean that the Premises, or any portion thereof, is not reasonably capable of being used by Tenant for its intended
purpose or that the continuance of Tenant’s business from the Premises is impractical (as reasonably determined by Tenant). Within thirty (30) days following any Casualty, Landlord shall cause to be prepared and delivered to Tenant a
written estimate of the date by which the Landlord’s Restoration Work necessitated by Casualty shall be completed (which estimate shall be prepared by an independent reputable contractor, registered 

  

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architect or licensed professional engineer designated by Landlord, and reasonably approved by Tenant) (such estimate being herein called the
“Restoration Completion Estimate”). If the Restoration Completion Estimate is a date later than the date that is one hundred eighty (180) days after the date of the Casualty, or the Casualty occurs during the last one hundred
twenty (120) days of the Term (as may be extended by the Extension Option), then, provided that such Casualty was not the direct or indirect result of Tenant’s or any Tenant Party’s negligence or willful misconduct, Tenant may elect
to terminate this Lease by providing Landlord written notice no later than thirty (30) days following the delivery of the Restoration Completion Estimate to Tenant or, in the case of a Casualty occurring in the last one hundred twenty
(120) days of the Term (as may be extended by the Extension Option), within thirty (30) days after the occurrence of such Casualty. If (i) the Restoration Completion Estimate is a date later than the date that is one hundred eighty
(180) days after the date of the Casualty, (ii) the Casualty is the result of a risk that is not covered by Landlord’s insurance (provided that Landlord has procured and maintained the insurance required under Section 12.2(b) of
this Lease), (iii) the amount of insurance proceeds payable to and received by Landlord as a result of such Casualty plus the applicable deductable are insufficient to compete Landlord’s Restoration Work (provided that Landlord has
procured and maintained the insurance required under Section 12.2(b) of this Lease) or (iv) the Casualty occurs during the last one hundred twenty (120) days of the Term (as may be extended by the Extension Option), then Landlord may
elect to terminate this Lease by providing Tenant written notice no later than fifteen (15) days following the delivery of the Restoration Completion Estimate to Tenant (in the case of clause (i)), fifteen (15) days after the insurer
finally denies coverage or settles the insurance claim (in the case of clauses (ii) and (iii)), and fifteen (15) days after the occurrence of the Casualty (in the case of clause (iv)). 
 13.2 If a Casualty occurs and the Lease is not terminated in accordance with the terms of Section 13.1 above, then Landlord shall commence and
diligently pursue to completion Landlord’s Restoration Work. If Landlord fails to substantially complete Landlord’s Restoration Work (it being understood that in no event shall Landlord’s Restoration Work be deemed substantially
completed unless and until the Premises are no longer Untenantable and the common areas functional for all purposes hereunder) on or prior to the Outside Completion Date, then Tenant may terminate this Lease (or Tenant may reduce the total area of
the Premises by removing the Building affected by such Casualty, if only one Building within the Premises is affected by such Casualty) and in the event of such termination (or Premises reduction), all Rent shall be prorated and adjusted as of the
date of such termination (or Premises reduction), subject to the abatement provisions herein-above set forth) by delivering written notice to Landlord within thirty (30) days after the Outside Completion Date, but before Landlord’s
Restoration Work shall have been substantially completed. If Tenant fails to deliver such notice within such thirty (30) day period, then Tenant shall have waived its right to terminate this Lease under this Section 13.2 for a period of
two (2) months; after which 2-month period, such right shall again be available, on the same terms, if the Landlord’s Restoration Work is still not substantially completed. The provisions of the two immediately preceding sentences shall be
implemented repeatedly until the Landlord’s Restoration Work is substantially completed or this Lease is terminated as therein provided. The term “Outside Completion Date” shall mean the later of (x) the date that is 180
days after the Casualty occurred and (y) the date of the Restoration Completion Estimate. Tenant shall be solely obligated to repair and restore Tenant Property at its sole cost and expense, unless damage thereto is caused by the gross
negligence or willful misconduct of Landlord. 
  

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 13.3 Landlord and Tenant agree that the foregoing provisions of this Section 13 are to govern their
respective rights and obligations in the event of any damage or destruction and supersede and are in lieu of the provisions of any applicable law, statute, ordinance, rule, regulation, order or ruling now or hereafter in force which provide remedies
for damage or destruction of Premises (including, without limitation, the provisions of California Civil Code Section 1932, Subsection 2, and Section 1933, Subsection 4 and any successor statute or laws of a similar nature). 
 14. CONDEMNATION 
 14.1 If all of the
Premises is condemned by eminent domain, inversely condemned or sold in lieu of condemnation for any public or quasi-public use or purpose (a “Condemnation”), this Lease shall terminate as of the earlier of the date of title vesting
in such proceeding or the date Tenant vacates the Premises, and Base Rent and Additional Rent hereunder shall be adjusted to the date the Lease is terminated. 
 14.2 If a Condemnation affects a portion of the Premises as would render the continuance of Tenant’s business from the Premises impracticable (as reasonably determined by Tenant), then Tenant shall have the
option of terminating this Lease upon the giving of notice to Landlord within thirty (30) days from the date of such condemnation or taking and this Lease shall terminate as of the earlier of the date of title vesting in such proceeding or the
date Tenant vacates the Premises, and Base Rent and Additional Rent hereunder shall be adjusted to the date the Lease is terminated. 
 14.3
If any such Condemnation of a portion of the Premises occurs and this Lease is not terminated under Section 14.1 or Section 14.2, then within thirty (30) days following any Condemnation, Landlord shall cause to be prepared and
delivered to Tenant a written estimate of the date by which restoration work to the remaining portions Premises (including the Buildings and the parking and other common areas and structures, but not including, in any event, any Tenant Property) can
be completed so that such remaining portion of the Premises and the Buildings thereon each shall constitute a complete architectural unit, reasonably fit for Tenant’s occupancy and business as reasonably determined by Tenant (which estimate
shall be prepared by an independent reputable contractor, registered architect or licensed professional engineer designated by Landlord, and reasonably approved by Tenant) (such estimate being herein called the “Condemnation Restoration
Completion Estimate”). If the Condemnation Restoration Completion Estimate is a date later than the date that is one hundred twenty (120) days after the date of the Condemnation, or the Condemnation occurs during the last one hundred
twenty (120) days of the Term (as may be extended by the Extension Option), then, Landlord or Tenant each may elect to terminate this Lease by providing written notice to the other no later than thirty (30) days following the delivery of
the Condemnation Restoration Completion Estimate to Tenant or, in the case of a Condemnation occurring in the last one hundred twenty (120) days of the Term (as may be extended by the Extension Option), within thirty (30) days after the
occurrence of such Condemnation. If this Lease is not terminated under this Section 14.3, Landlord shall, within sixty (60) days after the date of such condemnation or 

  

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taking, commence such restoration work to the remaining portions of the Premises (including the Buildings and the parking and other common areas and
structures, but not including, in any event, any Tenant Property) as shall be needed so that such remaining portion of the Premises and the Buildings thereon each shall constitute a complete architectural unit, reasonably fit for Tenant’s
occupancy and business as reasonably determined by Tenant. If Landlord fails to cause such restoration work to be substantially completed within the later of (x) 180 days after the Condemnation and (y) the Condemnation Restoration
Completion Estimate, for any reason other than a delay caused by an act or omission of Tenant, and such failure materially interferes with Tenant’s use and occupancy of the Premises (as reasonably determined by Tenant), then Tenant shall have
the right to terminate this Lease by notifying Landlord in writing of such termination within thirty (30) days after such outside date for completion of such restoration. 
 14.4 If this Lease is terminated as provided in Section 14.1, Section 14.2 or Section 14.3, then this Lease shall cease and expire as to
such Premises as of the date of transfer of possession of the Premises, the Property, or the applicable portion thereof, as if such date was the expiration date of this Lease. 
 14.5 If, upon any Condemnation of a portion of the Premises, this Lease is not terminated by either Landlord or Tenant, then Tenant shall pay all Basic
Rent up to the date of transfer of possession of such portion of the Premises so taken or condemned and this Lease shall thereupon cease and terminate with respect to such portion of the Premises so taken or condemned as if the date of transfer of
possession of the Premises was the expiration date of the Term relating to such portion of the Premises. Thereafter, the Basic Rent and Additional Rent shall be calculated based on the net rentable area of the Premises not so taken or condemned and
Tenant shall remain responsible only for Basic Rent and Additional Rent applicable to the remaining portion of the Premises. 
 14.6 All
compensation awarded for any taking (or the proceeds of private sale in lieu thereof) of the Property shall be the property of Landlord, and Tenant hereby assigns its interest in any such award to Landlord; provided, however, Landlord shall have no
interest in any award made to Tenant for the taking of any Tenant Property or moving expenses if a separate award for such items is made to Tenant. If this Lease is terminated as a result of any such exercise of the power of eminent domain, Rent
shall be payable up to the date that possession is taken by the condemning authority; Landlord shall refund to Tenant any prepaid unaccrued Rent, less any sum then owing by Tenant to Landlord; and Tenant shall have no claim against Landlord for the
value of any unexpired portion of the Term. 
 14.7 If (i) any taking or condemnation for any public purpose is of a portion (but less
than all) of the Premises or any portion thereof, and (ii) the same occurs for only a period of ninety (90) days or less, then such taking or condemnation shall be deemed a temporary taking and this Lease shall continue in full force and
effect, except that, throughout the period of such temporary taking, Basic Rent, shall be calculated based on the net rentable area of the Premises not so taken. 
 14.8 Tenant hereby waives any and all rights it might otherwise have pursuant to Section 1265.130 of the California Code of Civil Procedure. 
  

 25 

 15. DEFAULT BY TENANT 
 15.1 If, at any time during the Term, any one or more of the following events (each of which being herein called an “Event of Default”)
shall occur, to wit: 
 (a) Tenant fails to pay when due any sum required to be paid hereunder which is not received by Landlord when due and
such failure shall continue for a period of five (5) business days after the date on which Landlord gives Tenant written notice of such failure (a “Monetary Default”); or 
 (b) Tenant fails to perform or observe any of Tenant’s obligations, covenants, or agreements (other than a Monetary Default) to be performed or
observed by Tenant under this Lease and such failure shall continue for thirty (30) days after notice thereof from Landlord to Tenant, except that if such failure cannot, because of Unavoidable Delays or otherwise, be cured within such thirty
(30) day period, and if Tenant shall have commenced to cure such failure within such thirty (30) day period or as soon as reasonably feasible following an Unavoidable Delay, and continues to prosecute such cure with reasonable diligence
thereafter, then the time to cure such failure shall be extended for such period as may be necessary to complete such cure with reasonable diligence, subject to Unavoidable Delays; or 
 (c) Tenant admits in writing that it cannot meet its obligations as they become due; or is declared insolvent according to any applicable Legal
Requirement; or an assignment of Tenant’s property is made for the benefit of creditors; or a receiver or trustee is appointed for Tenant or a substantial portion of its property; or the interest of Tenant under this Lease is levied on under
execution or other legal process; or any petition is filed by or against Tenant or Guarantor to declare Tenant bankrupt; or any petition is filed or other action taken to reorganize or modify Tenant’s or Guarantor’s capital structure if
Tenant is a corporation or other entity. Any such levy, execution, legal process, or petition filed against Tenant or Guarantor shall not constitute a breach of this Lease provided Tenant or Guarantor shall contest the same by appropriate
proceedings and shall remove or vacate the same within sixty (60) days from the date of its creation, service, or filing; or 
 (d)
Tenant ceases to exist as a corporation. 
 15.2 In the event of any Event of Default by Tenant, Landlord, at its option, may pursue one or
more of the following remedies without notice or demand in addition to all other rights and remedies provided for at law or in equity: 
 (a)
Upon an Event of Default, Landlord may, at its option, terminate this Lease by written notice to Tenant and recover possession of the Premises. No act by Landlord (including, without limitation, acts of maintenance, efforts to relet the Premises, or
the appointment of a receiver on Landlord’s initiative to protect Landlord’s interest under the Lease) other than giving written notice to Tenant shall terminate this Lease. Following such termination, Landlord may recover from Tenant
damages arising from the Event of Default and the termination of this Lease, including without limitation the following: 
 (i) The Worth at
the Time of Award of the unpaid Rent which had been earned at the time of termination; plus 
  

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 (ii) 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 rental loss that Tenant proves could have been reasonably avoided; plus 
 (iii) The Worth at the Time of Award of the amount by which the unpaid Rent for the balance of the Term after the time of award exceeds the amount of such rental loss that Tenant proves could be reasonably avoided; plus 
 (iv) any other amount necessary to compensate Landlord for all detriment proximately caused by Tenant’s failure to perform Tenant’s
obligations under this Lease, or which, in the ordinary course of things, would be likely to result therefrom. 
 As used in Sections 15.2(a)(i) and
15.2(a)(ii) above, the “Worth at the Time of Award” shall be computed by allowing interest at the Default Rate. As used in Section 15.2(a)(iii) above, the “Worth at the Time of Award” shall be computed by discounting such
amount at the discount rate of the Federal Reserve Bank of San Francisco at the time of award plus five percent (5%). 
 (b) Landlord shall
have the remedy, described in California Civil Code 1951.4 (Landlord may continue the 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). 
 15.3 If Landlord shall exercise any one or more remedies hereunder granted or otherwise available, it shall not
be deemed to be an acceptance or surrender of the Premises by Tenant whether by agreement or by operation of law; it is understood that such surrender can be effected only by the written agreement of Landlord and Tenant. 
 15.4 Each right and remedy provided for in this Lease shall be cumulative and shall be in addition to every other right or remedy provided for in this
Lease or now or hereafter existing at law or in equity or by statute or otherwise, including, but not limited to, suits for injunctive relief and specific performance. The exercise or beginning of the exercise by Landlord of any one or more of the
rights or remedies provided for in this Lease or now or hereafter existing at law or in equity, or by statute or otherwise shall not preclude the simultaneous or later exercise by Landlord of any or all other rights or remedies provided for in this
Lease or now or hereafter existing at or in equity or by statute or otherwise. All such rights and remedies shall be considered cumulative and non-exclusive. All costs incurred by Landlord in connection with collecting any Rent or other amounts and
damages owing by Tenant pursuant to the provisions of this Lease, or to enforce any provision of this Lease, including reasonable attorneys’ fees from the date such matter is turned over to an attorney, whether or not one or more actions are
commenced by Landlord, shall also be recoverable by Landlord from Tenant. If any notice and grace period required under Section 15.1(a) or Section 15.1(b) was not previously given, a notice to pay rent or quit, or to perform or quit, as
the case may be, given to Tenant under any statute authorizing the forfeiture of leases for unlawful detainer shall also constitute the applicable notice for grace period purposes required by Section 15.1(a) or 

  

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Section 15.1(b). In such case, the applicable grace period under Section 15.1(a) or Section 15.1(b) and under the unlawful detainer statute
shall run concurrently after the one such statutory notice, and the failure of Tenant to cure the default within the greater of the two (2) such grace periods shall constitute both an unlawful detainer and an Event of Default entitling Landlord
to the remedies provided for in this Lease and/or by said statute. 
 15.5 Notwithstanding anything contained in this Section 15 to the
contrary, any proceeding or action involving bankruptcy, insolvency, reorganization, arrangement, assignment for the benefit of creditors, or appointment of a receiver or trustee, as set forth above, shall be considered to be an Event of Default
only when such proceeding, action, or remedy shall be taken or brought by or against the then holder of the leasehold estate under this Lease. 
 15.6 No endorsement or statement on any check or letter of Tenant shall be deemed an accord and satisfaction or recognized for any purpose whatsoever. The acceptance of any such check or payment shall be without prejudice to Landlord’s
rights to recover any and all amounts owed by Tenant hereunder and shall not be deemed to cure any other default nor prejudice Landlord’s rights to pursue any other available remedy, Landlord’s acceptance of partial payment of rent does
not constitute a waiver of any rights, including without limitation any right Landlord may have to recover possession of the Premises. 
 15.7 Landlord’s failure to perform any of its obligations under this Lease shall constitute a default by Landlord under this Lease if the failure continues for thirty (30) days after written notice of the failure from Tenant to
Landlord. If the required performance cannot be completed within thirty (30) days, Landlord’s failure to perform shall constitute a default under the Lease unless Landlord undertakes to cure the failure within thirty (30) days and
diligently and continuously attempts to complete this cure as soon as reasonably possible. All obligations of each party hereunder shall be construed as covenants, not conditions. 
 16. LANDLORD OR TENANT MAY PERFORM THE OTHER’S OBLIGATIONS 
 16.1 If Tenant shall at any time fail to keep or perform any of its obligations under this Lease in respect of (a) maintenance of insurance, (b) repairs and maintenance of the Premises, (c) compliance
with insurance requirements, or (d) the making of any other payment or performance of any other obligation of Tenant hereunder, Landlord may, but shall not be obligated to, upon the continuance of such failure on Tenant’s part for ten
business (10) days after written notice (or, only in connection with a repair that must be made immediately in the case of a bona fide emergency, only with reasonable advance written notice, or if not feasible, oral notice) to Tenant (or after
such additional period, if any, as Tenant may reasonably require to cure such failure if of a non-monetary nature which cannot be cured within said ten (10) business day period, and if, within said ten (10) business day period, Tenant
begins appropriate action to cure such failure and thereafter prosecutes such action with due diligence and continuity) and without waiving or releasing Tenant from any obligation, make any such payment or perform any such obligation, and all
reasonable sums so paid by Landlord and all necessary incidental costs and expenses incurred by Landlord in making such payments or performing such obligation, together with interest thereon at the Default Rate from the date of payment and shall be
paid to Landlord on demand, or at Landlord’s option may be added to any installment of Basic Rent thereafter falling due, and if not so paid by Tenant, Landlord shall have the same rights and remedies as in the case of a default by Tenant in
the payment of Basic Rent. 
  

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 16.2 If Landlord shall at any time fail to keep or perform any of its obligations under this Lease
pursuant to Section 9.2, and Section 19.1 of this Lease, Tenant may, but shall not be obligated to, perform any such obligation, without waiving or releasing Landlord from such obligation, upon the continuance of such failure on
Landlord’s part for ten (10) business days after written notice (or without notice and/or within a shorter time period in the case of a bona fide emergency) to Landlord and Landlord’s mortgagees of which Tenant has been provided
notice (or after such additional period, if any, as Landlord may reasonably require to cure such failure if of a nature which cannot be cured within said ten (10) business day period, and if, within such ten (10) business day period,
Landlord begins appropriate action to cure such failure and thereafter prosecutes such action with due diligence and continuity). Landlord shall reimburse Tenant for all reasonable sums incurred by Tenant in performing such obligation, together with
interest thereon at the Default Rate from the date of payment thereof, such reimbursement to be paid within thirty (30) days of demand therefor. In the event that Landlord fails to reimburse Tenant as aforesaid for costs incurred by Tenant in
exercising its self-help remedies, and provided that Tenant has obtained a judgment from a court of competent jurisdiction that Tenant is entitled to such reimbursement and Landlord fails to appeal in good faith or satisfy such judgment within
thirty (30) days after being notified thereof by Tenant, then, in such event, Tenant shall be entitled to offset against Basic Rent and any additional charges thereafter due and payable, until paid in full, the sums due to Tenant pursuant to
said judgment. In the event that the amounts due are not paid in full by the expiration or earlier termination of the Term of this Lease, such deficiency shall be immediately due and payable to Tenant. 
 16.3 The provisions of this Section 16 shall survive the expiration or earlier termination of the Term. 
 17. SURRENDER OF PREMISES; HOLDOVER 
 17.1 Upon the expiration or earlier termination of this Lease (for any reason whatsoever), Tenant shall surrender to Landlord the Premises in its “as is” condition on the Effective Date, but broom clean and clear of debris caused
by Tenant, subject to the effects of ordinary wear and tear and depreciation arising from lapse of time and damage without fault or liability of Tenant, including without limitation damage by Casualty or loss by condemnation. Tenant shall not have
any repair, restoration, maintenance or removal obligation, except as expressly provided in this Lease (including, without limitation, Section 11). Tenant may at any time during the Term or renewal thereof remove any trade fixture or any
equipment which Tenant has installed in the Premises, providing said Tenant repairs any damages caused by said removal. 
 17.2 Subject to
Sections 7 and 11 above, title to all Tenant Property shall remain in Tenant, and Tenant shall have the right to remove Tenant Property upon or prior to the expiration or earlier termination of this Lease; provided that, as provided in
Section 11.1 of this Lease above, Landlord may require Tenant to remove some or all such Tenant Property. Any items of such Tenant Property which shall remain upon the Premises after the expiration or earlier termination by Tenant of the Term
may, at the option of Landlord, be deemed to have 

  

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been abandoned, and in such case such items may be retained by Landlord as its property or disposed of by Landlord, without accountability, in such manner as
Landlord shall determine. Tenant shall not have any right or obligation to remove cables, wiring or the like that are affixed or otherwise attached to (or embedded with any shafts, ducts or conduits within) any part of the Premises that is located
within or behind the surface of walls and floors or within or above ceiling surfaces. 
 17.3 The parties recognize and agree that the damage
to Landlord resulting from any failure by Tenant timely to surrender possession of the Premises as aforesaid will be substantial, will exceed the amount of the rent theretofore payable hereunder, and will be impossible to accurately measure.
Accordingly, if Tenant shall fail to surrender the Premises upon the expiration or earlier termination of this Lease, then, throughout the period commencing on such expiration or earlier termination and continuing until Tenant shall have surrendered
the Premises (such period, the “Holdover Period”), Tenant shall be deemed a holdover tenant and shall be liable to Landlord for a charge for each day of the Holdover Period, in respect of use and occupancy and all damages incurred
by Landlord, equal to 175% of the rate of Basic Rent for the first thirty (30) days during the Holdover Period, equal to 200% of the rate of Basic Rent for the second thirty (30) days during the Holdover Period and equal to 225% of the
rate of Basic Rent during the remaining Holdover Period (computed on a per diem basis) payable under this Lease immediately prior to the commencement of the Holdover Period. The foregoing charge be in addition to any Additional Rent payable by
Tenant for such holdover period and shall constitute liquidated damages on account of Tenant’s holdover; and Landlord hereby waives any and all right it may have to any further damages on account of Tenant’s holdover. Nothing herein shall
be deemed to grant Tenant any right to holdover, and in no event shall the acceptance of any such charge preclude Landlord from commencing and prosecuting any holdover or eviction proceeding (but Landlord shall not claim, nor shall it be entitled
to, any damages, as part of such proceeding, beyond the aforementioned per diem charge, the Additional Rent payable during such holdover period, and its costs of prosecuting such holdover or eviction proceeding, including, without limitation,
reasonable attorney’s fees and disbursements directly relating thereto). 
 18. ASSIGNMENT AND SUBLETTING 
 18.1 Tenant shall not, voluntarily or by operation of law, (a) assign, mortgage, pledge, encumber, sell or transfer this Lease, in whole or in part,
or (b) make any sublease, or permit occupancy of the Premises or any part thereof by anyone other than Tenant, without the prior written consent of Landlord, which consent shall not be unreasonably withheld, conditioned or delayed. No consent
to any assignment or sublease in a specific instance shall operate as a release of Tenant from liability under this Lease. No consent to any assignment or sublease in a specific instance shall operate as a waiver of the need for such consent in any
subsequent instance. Landlord’s consent to any proposed assignment or sublease may be subject to the consistency, in Landlord’s reasonable judgment, of the proposed assignee’s or subtenant’s business with other uses and tenants
in the Building. In the event that any assignee or subtenant pays to Tenant any amount in excess of the Basic Rent then payable hereunder, or pro rata portion thereof on a square footage basis for any portion of the Premises so assigned or
subleased, after deducting therefrom an amount equal to the reasonable expenses incurred by 

  

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Tenant in connection with such sublease or assignment (including but not limited to brokerage fees, fit-up expenses, tenant improvements allowances, free
rent periods, marketing costs, advertising fees and attorney’s fees), which expenses shall be amortized on a straight light basis over the remaining Term of the Lease, then Tenant shall promptly pay fifty percent (50%) of said excess to
Landlord as and when received by Tenant. 
 18.2 Any provision of this Lease to the contrary notwithstanding, Tenant shall have the right, at
any time and from time to time and without notice (except as expressly provided in Section 18.3, below) or consent, (a) to sublet all or part of the Premises to any other Tenant Affiliate; or (b) assign this Lease to a Successor; or
(c) permit occupancy of the Premises by the personnel of any entity that acquires a Tenant Affiliate or substantial portion of such Tenant Affiliate’s assets for a reasonable transition period following such acquisition. Any assignment or
sublease under this Section 18.2 shall not operate as a release of Tenant from liability under this Lease. For the purpose of this Section 18.2, “control” shall mean the ownership of twenty percent (20%) or more of the
direct or indirect voting securities or beneficial interests of an applicable entity. Further, notwithstanding anything in this Lease to be contrary, Tenant shall also have the right to permit, at any time and from time to time and without notice or
consent, Affiliates and Successors to occupy all or any portion of the Premises without any formal agreement between Tenant and such entities. 
 18.3 In the event of the subletting or an assignment of this Lease to a Tenant Affiliate or a Successor, Tenant shall notify Landlord, in writing, prior to such subletting or assignment, as the case may be, and shall deliver to Landlord
copies of any sublease or assignment documentation executed by Tenant and Tenant Affiliate. 
 18.4 No consent to any subletting or
assignment shall release Tenant from or otherwise affect Tenant’s continuing primary liability (which, following any such assignment, shall be joint and several with the assignee). 
 19. INDEMNITY 
 19.1 Subject to
Section 12.3, Tenant shall indemnify, defend and hold Landlord and all Landlord Parties harmless from and against any loss, cost, damage, claim, liability and expense (including, without limitation, reasonable attorneys’ fees and
disbursements) if, and to the extent, arising from any negligent acts or omissions or willful misconduct of Tenant or any Tenant Parties in, at or upon the Premises from and after the Commencement Date or any accident, injury or damage caused by
Tenant or any Tenant Parties in, at or upon the Premises from and after the Commencement Date, or subject to Section 6.2 of this Lease above, otherwise incurred in connection with or arising from any cause in, on or about the Premises after the
Commencement Date until Tenant vacates the Premises, except to the extent resulting from the material breach of this Lease by or the negligent acts or omissions or willful misconduct of Landlord or any Landlord Party. The provisions of this
Section 19 shall survive the expiration or earlier termination of this Lease. 
 19.2 Without limiting the foregoing, Tenant hereby
agrees to and does indemnify, defend, and hold harmless, Landlord and all Landlord Parties from and against any and all claims, demands, causes of action, fines, penalties, costs, expenses (including attorneys 

  

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fees and court costs), liens, or liabilities, if, and to the extent, caused by, or arising out of Tenant’s failure to comply with its obligations under
Section 20. The provisions of this Section 19 shall survive the expiration or earlier termination of this Lease. 
 20.
ENVIRONMENTAL MATTERS. Subject to Section 6.2, Tenant shall not cause or permit any Hazardous Materials to be brought upon or used in the Premises by Tenant, its agents, employees, or contractors, or any other Tenant Parties, from and after
the Commencement Date, unless: (x) such Hazardous Materials are necessary for the uses permitted under this Lease or are commonly used by tenants using space for the uses permitted by this Lease (e.g., office supplies, printer toner and limited
quantities of cleaning supplies customarily used when cleaning office space and substances and materials used in connection with or contained within building systems, mechanical, electrical or other building system components, generators and the
like), and (y) Tenant manages such Hazardous Materials strictly in accordance with all applicable Environmental Laws. Landlord shall be solely responsible for and shall undertake all removal, relocation, elimination, remediation or
encapsulation of Hazardous Materials required by any Governmental Authority, or as necessary to comply with, and not violate, Legal Requirements, arising from Hazardous Materials that are present on the Effective Date or introduced to, on, in,
about, under or from the Property by Landlord or any Landlord Party or any person or entity other than Tenant or a Tenant Party. Tenant shall be solely responsible for and shall undertake all removal, relocation, elimination, remediation or
encapsulation of Hazardous Materials required by any Governmental Authority, or as necessary to comply with, and not violate, Legal Requirements, arising from Hazardous Materials that are introduced in, under or from the Property by Tenant or any of
its agents, employees or contractors or any Tenant Parties from and after the Commencement Date. 
 21. SUBORDINATION.

 21.1 This Lease, at Landlord’s option, shall be subordinate to any present or future Mortgage and to any and all advances made
under any present or future Mortgage and to all renewals, modifications, consolidations, replacements, and extensions of any or all of same; provided, however, that Tenant’s quiet possession will not be disturbed so long as no Event of Default
has occurred. Tenant agrees, with respect to any such Mortgage, that no documentation other than this Lease shall be required to evidence such subordination. If any Mortgagee shall elect for this Lease to be superior to the lien of its Mortgage and
shall give written notice thereof to Tenant, then this Lease shall automatically be deemed prior to such Mortgage whether this Lease is dated earlier or later than the date of said Mortgage or the date of recording thereof. Tenant agrees to execute
such documents as may be further required to evidence such subordination (provided that such document includes the Mortgagee’s agreement not to disturb Tenant’s quiet possession so long as an Event of Default has not occurred) or to make
this Lease prior to the lien of any Mortgage, and by failing to do so within five (5) days after written demand, Tenant shall have committed an Event of Default under the Lease. Notwithstanding the provisions of this Section 21.1 above, it
shall be a condition to the subordination of this Lease to any Mortgage that hereafter encumbers the Premises that Landlord shall have delivered to Tenant a Non-Disturbance Agreement, executed and acknowledged by the holder of such Mortgage, as
lender. 
  

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 21.2 If the holder of such Mortgage, as lender, requests modifications to the Non-Disturbance Agreement
at the time of execution and delivery of this Lease, Tenant agrees that it shall not unreasonably withhold its consent to such requested modifications. 
 22. BROKER. Landlord and Tenant each represents and warrants to the other that they dealt with no broker in connection with the transaction contemplated by this Lease. Landlord and Tenant will indemnify
and hold the other harmless from and against any and all claims, liabilities and expenses (including, without limitation, reasonable attorneys’ fees and disbursements) for all brokerage commissions or finder’s fees incurred by reason of
the inaccuracy of the representation and warranty contained in this Section. 
 23. NOTICES 
 23.1 Any notice, demand or other communication (each, a “notice”) that is given or rendered pursuant to this Lease by either Landlord or
Tenant to the other party, shall be (i) given or rendered, in writing, (ii) addressed to the other party at its required address(es) for notices delivered to it as set forth in Section 23.2 below, and (iii) delivered via either
(x) hand delivery, (y) nationally recognized courier service (e.g., DHL, Federal Express, Express Mail) or (z) certified U.S. mail postage prepaid with return receipt requested. Any such notice shall be deemed given or
rendered, and effective for purposes of this Lease, as of the date actually delivered to the other party at such address(es) (whether or not the same is then received by other party due to a change of address of which no notice was given, or any
rejection or refusal to accept delivery). Notices from either party (to the other) may be given or rendered by its counsel. 
 23.2 The
required address of each party for notices delivered to it are as set forth below. Each party, however, may, from time to time, designate an additional or substitute required address(es) for notices delivered to it (provided, that such designation
must be made by notice given in accordance with this Section 23). 
  

			
	If to Landlord:	  	PR III Middlefield Road, LLC
		  	c/o Prudential Real Estate Investors
		  	8 Campus Drive, 4th Floor
		  	Arbor Circle South
		  	Parsippany, New Jersey 07054
		  	Attn: PRISA III Asset Management
		  	Phone: (973) 734-1300
		
	With a copy to:	  	PR III Middlefield Road, LLC
		  	Prudential Real Estate Investors
		  	Campus Drive, 4th Floor
		  	Arbor Circle South
		  	Parsippany, New Jersey 07054
		  	Attn: Law Department
		
	If to Tenant:	  	VeriSign Inc.
		  	487 E. Middlefield Road

  

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		  	Mountain View, CA 94043
		  	Attn: James L. Morgensen
		  	Vice President, Property Management Group
		
	With a copy to:	  	VeriSign, Inc.
		  	487 East Middlefield Road
		  	Mountain View, California 94043
		  	Attn: Office of the General Counsel
		
	With a copy to:	  	DLA Piper US LLP 500 8th Street, NW
		  	Washington, DC 20004
		  	Attention: Jeffrey R. Keitelman, Esq.

 24. QUIET ENJOYMENT. Landlord hereby covenants and agrees that, unless and until an Event
of Default shall occur, Tenant shall, at all times during the Term, have peaceable and quiet enjoyment and possession of the Premises without any manner of hindrance from Landlord or any other person, firm or corporation. 
 25. ESTOPPEL CERTIFICATE. Within ten (10) days after a written notice from Landlord, Tenant shall execute and deliver to Landlord a
statement certifying (a) that this Lease is in full force and effect, (b) that this Lease has not been amended, or if so amended, specifying the date of each amendment, (c) the date to which Basic Rent has been paid, (d) stating
whether or not Tenant has delivered to Landlord any notice that indicates that Landlord is in default in performance of any of its obligations under this Lease, which notice remains outstanding (and, if so, specifying each such notice and default),
and (e) stating whether or not Tenant has received from Landlord any notice that alleges that Tenant is in default in performance of any of its obligations under this Lease, which notice remains outstanding (and, if so, specifying each such
notice and alleged default). At Landlord’s request, the aforementioned certification shall be to Landlord’s Mortgagee or other lender or Landlord’s purchaser or investor, as well as Landlord. Tenant’s failure to deliver such
statement within ten (10) days after a second written notice requesting such statement, which second notice is given by Landlord after expiration of the ten (10) day period described above, shall conclusively be deemed to be an admission
by Tenant of the matters set forth in the request for an estoppel certificate. 
 26. LIMITATION OF LIABILITY. Tenant
acknowledges and agrees, for itself and its successors and assigns, that no trustee, director, officer, employee or agent of Landlord shall be personally liable for any of the terms, covenants or obligations of Landlord hereunder. Landlord
acknowledges and agrees, for itself and its successors and assigns, that no trustee, director, officer, employee or agent of Tenant shall be personally liable for any of the terms, covenants or obligations of Tenant hereunder. 
 27. ACCESS OF LANDLORD TO PREMISES 
 27.1 Subject to the provisions of this Section 27.1, Landlord (through its authorized contractors, agents or representatives) may enter into and upon any part of the Premises during reasonable hours and upon reasonable notice (which
shall mean (x) except cases 

  

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of emergency, at least 24 hours prior notice to Tenant, and (y) in cases of emergency, such prior notice, if any, or contemporaneous notice, as shall be
reasonable under the circumstances), for the following purposes: (i) to make repairs to the Premises as Landlord is required, or expressly authorized, to make pursuant to this Lease, or is required to make during the Term pursuant to any
applicable Legal Requirements or any Insurance Requirements; (ii) to otherwise perform Landlord’s obligations under this Lease; (iii) for the purpose of showing the same to existing or prospective purchasers or lenders; and
(iv) at any time during the last twelve (12) months of the Term (assuming no further Extension Option is then available to Tenant), to show the Leased Premises to prospective tenants. 
 27.2 With respect to any of the aforementioned authorized entries by Landlord into and upon any part of the Premises, Tenant shall be entitled to have
its representative accompany Landlord. 
 27.3 Landlord shall not unreasonably interfere with the operation of Tenant’s business during
any of the aforementioned authorized entries. Without limiting the generality of the foregoing, Landlord shall use commercially reasonable efforts to make any routine repairs requiring access to the Premises after Tenant’s normal business
hours. 
 27.4 Notwithstanding any of the foregoing, unless otherwise expressly permitted by Tenant in writing, Landlord shall not enter
areas designated by Tenant as high security areas, unless an emergency situation exists that requires such entry to prevent imminent threat to human health, safety or material damage to the Premises. 
 28. AUTHORITY 
 28.1 Landlord and
Tenant each represents and warrants to the other party that it has full right, power and authority to enter into and perform all of its obligations under this Lease, without the consent or approval of any other entity or person, and that it is
making these representations knowing that the other party will rely thereon. 
 28.2 Landlord and Tenant each further represents and warrants
to the other that the signatory of this Lease on its behalf has full right, power and authority to act for and on behalf of it in entering into this Lease. 
 29. LANDLORD EXCULPATION. Tenant hereby acknowledges and agrees that, notwithstanding anything herein to the contrary or any Legal Requirements to the contrary, the liability of Landlord and the Landlord
Parties hereunder and any recourse by Tenant against Landlord or the Landlord Parties shall be limited solely and exclusively to Landlord’s interest in and to the Property, and neither Landlord nor any of the Landlord Parties shall have any
personal liability thereof, and Tenant hereby expressly waives and releases such personal liability on behalf of itself and all persons claiming by, through or under Tenant. 
 30. TRANSFER OF LANDLORD’S INTEREST. Tenant hereby acknowledges and agrees that Landlord has the right to transfer all or any portion
of its interest in the Property and in this Lease and that in the event of any such transfer, Landlord shall automatically be released from all liability under this Lease and Tenant agrees to look solely to such transferee for 

  

 35 

 
the performance of Landlord’s obligations hereunder after the date of such transfer. The liability of any transferee shall be limited to the interest of
such transferee in the Property and such transferee shall be without personal liability under this Lease, and Tenant hereby expressly waives and releases such personal liability on behalf of itself and all persons claiming by, through or under
Tenant. Tenant further acknowledges and agrees that Landlord may assign its interest in the Lease to a Mortgagee as additional security, and Landlord agrees that such an assignment shall not release Landlord from its obligations hereunder and that
Tenant shall continue to look to Landlord for the performance of its obligations hereunder. 
 31. ERISA 
 31.1 Tenant hereby represents, warrants and covenants that (a) Tenant is not (and will not during the Term become) an employee pension benefit plan
subject to the provisions of Title IV of ERISA or subject to the minimum funding standards under Part 3, Subtitle B, Title I of ERISA or Section 412 of the Internal Revenue Code or Section 302 of ERISA, and none of its assets constitutes
or will constitute during the Term assets of any plan subject to Part 4, Subtitle B, Title I of ERISA and/or Section 4975 of the Internal Revenue Code, and (b) Tenant is not (and will not during the Term become) a “governmental
plan” within the meaning of Section 3(32) of ERISA and the funds used by Tenant to pay rent and other amounts payable hereunder are not (and will not be) subject to State statutes regulating investments of and fiduciary obligations with
respect to governmental plans. 
 31.2 Landlord hereby represents, warrants and covenants that (a) Landlord is not (and will not during
the Term become) an employee pension benefit plan subject to the provisions of Title IV of ERISA or subject to the minimum funding standards under Part 3, Subtitle B, Title I of ERISA or Section 412 of the Internal Revenue Code or
Section 302 of ERISA, and none of its assets constitutes or will constitute during the Term assets of any plan subject to Part 4, Subtitle B, Title I of ERISA and/or Section 4975 of the Internal Revenue Code, and (b) Landlord is not
(and will not during the Term become) a “governmental plan” within the meaning of Section 3(32) of ERISA. 
 32.
ANTI-TERRORISM REPRESENTATIONS. Tenant is not a person or entity with whom Landlord is restricted from doing business under the Uniting and Strengthening America by Providing Appropriate Tools Required to Intercept and Obstruct Terrorism Act of
2001, H. R. 3162, Public Law 107-56 (commonly known as the “USA Patriot Act”) and Executive Order Number 13224 on Terrorism Financing, effective September 24, 2001 and regulations promulgated pursuant thereto (collectively,
“Anti-Terrorism Laws”), including without limitation persons and entities named on the Office of Foreign Asset Control Specially Designated Nationals and Blocked Persons List (collectively, “Prohibited Persons”).

 33. WAIVER OF POST-JUDGMENT REMEDY, REDEMPTION, COUNTERCLAIM AND JURY TRIAL. FOLLOWING AN EVENT OF DEFAULT BY TENANT, TENANT, FOR
ITSELF AND FOR ALL PERSONS CLAIMING THROUGH OR UNDER IT, HEREBY EXPRESSLY WAIVES ANY AND ALL RIGHTS WHICH ARE, OR IN THE FUTURE MAY BE, CONFERRED UPON TENANT BY ANY PRESENT OR FUTURE LAW TO REDEEM THE PREMISES, OR TO ANY NEW TRIAL IN ANY ACTION FOR
EJECTION UNDER ANY PROVISIONS OF LAW, AFTER REENTRY THEREUPON, 

  

 36 

 
OR UPON ANY PART THEREOF, BY LANDLORD, OR AFTER ANY WARRANT TO DISPOSSESS OR JUDGMENT IN EJECTION. IF LANDLORD SHALL ACQUIRE POSSESSION OF THE PREMISES BY
SUMMARY PROCEEDINGS, OR IN ANY OTHER LAWFUL MANNER WITHOUT JUDICIAL PROCEEDINGS, IT SHALL BE DEEMED A REENTRY WITHIN THE MEANING OF THAT WORD AS USED IN THIS LEASE. IN THE EVENT THAT LANDLORD COMMENCES ANY SUMMARY PROCEEDINGS OR ACTION FOR
NONPAYMENT OF RENT OR OTHER CHARGES PROVIDED FOR IN THIS LEASE, TENANT SHALL NOT INTERPOSE ANY COUNTERCLAIM (OTHER THAN A COMPULSORY COUNTERCLAIM) OF ANY NATURE OR DESCRIPTION IN ANY SUCH PROCEEDING OR ACTION. EACH PARTY HEREBY WAIVES ANY RIGHT TO A
TRIAL BY JURY IN ANY ACTION SEEKING SPECIFIC PERFORMANCE OF ANY PROVISION OF THIS LEASE, FOR DAMAGES FOR ANY BREACH UNDER THIS LEASE, OR OTHERWISE FOR ENFORCEMENT OF ANY RIGHT OR REMEDY HEREUNDER (EACH A “DISPUTE” AND COLLECTIVELY,
THE “DISPUTES”). 
 34. PROPOSITION 65 WARNING. Chemicals known to the State of California to cause cancer and
reproductive harm are present at the Property. 
 35. TERMINOLOGY. As used in this Lease, (i) the phrase
“and/or” when applied to one or more matters or things shall be construed to apply to any one or more or all thereof as the circumstances warrant at the time in question, (ii) the terms “herein”
“hereof” and “hereunder”, and words of similar import, shall be construed to refer to this Agreement as a whole, and not to any particular Section, unless expressly so stated, (iii) the term
“including”, whenever used herein, shall mean “including without limitation”, except in those instances where it is expressly provided otherwise, (iv) the term “person” shall mean a natural
person, a corporation, a limited liability company, and/or any other form of business or legal association or entity, and (v) the term “business day” shall mean any day other than a Saturday or Sunday or New Year’s Day,
Memorial Day, Independence Day, Labor Day, Thanksgiving Day, the day immediately following Thanksgiving Day, and Christmas Day. 
 36.
MISCELLANEOUS PROVISIONS 
 36.1 This Lease constitutes the entire agreement between the parties with respect to the subject matter
hereof. Any modification, amendment or waiver of this Lease or any provision hereof must be in writing and executed by the party against whom enforcement of such modification, amendment or waiver is sought. 
 36.2 The parties acknowledge that each has had an opportunity to review and negotiate this Lease. This Lease shall be construed without regard to any
presumption or other rule requiring construction against the party causing this Lease or any part hereof to be drafted. 
 36.3 The table of
contents and the captions of this Lease are for convenience and reference only, and in no way define, limit or describe the scope or intent of this Lease or the intent of any provision hereof, and same shall not in any way affect the provisions of
this Lease. 
 36.4 If any provision of this Lease or the application thereof to any person or circumstance shall be to any extent invalid or
unenforceable, the remainder of this Lease, or the 

  

 37 

 
application of such provision to persons or circumstances other than those as to which it is invalid or unenforceable, shall not be affected thereby, and
each provision of this Lease shall be valid and enforceable to the fullest extent permitted by law. 
 36.5 Tenant and Landlord are
concurrently herewith recording a memorandum of this Lease. Upon expiration or earlier termination of this Lease, Landlord and Tenant each hereby agrees to execute, acknowledge and record, at Landlord’s sole cost and expense, any documentation
reasonably required by Landlord to release the effect of such memorandum of this Lease. 
 36.6 This Lease shall be governed by, and
construed and enforced in accordance with, the laws of the State in which the Property is located. 
 36.7 The failure of either party to
seek redress for the violation of, or to insist upon the strict performance of any term, covenant or condition contained in this Lease, shall not prevent a similar subsequent act from constituting a default under this Lease. 
 36.8 All terms and words used in this Lease, regardless of the number or gender in which they are used, shall be deemed to include any other number and
any other gender as the context may require. 
 36.9 This Lease shall become binding and effective only upon the execution and delivery of
this Lease by both Landlord and Tenant. 
 36.10 This Lease shall be binding upon and inure to the benefit of the parties hereto and their
respective successors and permitted assigns. 
 36.11 Tenant covenants by and for itself, its heirs, executors, administrators, 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, sex, religion, marital status, ancestry or national origin in the leasing, subleasing, transferring, use or enjoyment of the Premises, nor shall Tenant itself, or any person claiming under or through Tenant, establish or permit such
practices of discrimination or segregation with reference to the selection, location, number, use or occupancy, of tenants, lessees, sublesees, subtenants or vendees in the Premises. 
 36.12 If either Landlord or Tenant should bring suit against the other with respect to this Lease, including for unlawful detainer or any other relief
against the other hereunder, then all costs and expenses incurred by the prevailing party therein (including, without limitation, its actual appraisers’, accountants’, attorneys’ and other professional fees and court costs), shall be
paid by the other party. For purposes of this provision, the terms “attorneys’ fees” or “attorneys’ fees and costs,” or “costs and expenses” shall mean the fees and expenses of external legal counsel of the
parties hereto, which include printing, photocopying, duplicating, mail, overnight mail, messenger, court filing fees, costs of discovery, and fees billed for law clerks, paralegals, investigators and other persons not admitted to the bar for
performing services under the supervision and direction of an attorney. In addition, the prevailing party shall be 

  

 38 

 
entitled to recover reasonable attorneys’ fees and costs incurred in enforcing any judgment arising from a suit or proceeding under this Lease,
including without limitation post-judgment motions, contempt proceedings, garnishment, levy and debtor and third party examinations, discovery and bankruptcy litigation, without regard to schedule or rule of court purporting to restrict such award.
This post-judgment award of attorneys’ fees and costs provision shall be severable from any other provision of this Lease and shall survive any judgment/award on such suit or arbitration and is not to be deemed merged into the judgment/award or
terminated with the Lease. 
 36.13 This Lease may be executed in one or more counterparts, each of which shall be deemed an original, but
all of which together shall constitute one and the same instrument. 
 36.14 Nothing contained in this Lease shall be construed as creating
any relationship between Landlord and Tenant other than that of landlord and tenant. 
 [Remainder of page intentionally blank. Signatures
appear on following page.] 
  

 39 

 IN WITNESS WHEREOF, the parties hereto have caused this Lease to be executed as a sealed
instrument of the date first above written. 
  

			
	 LANDLORD:
  
 PR III MIDDLEFIELD ROAD, LLC

		
	By:	 	 /s/ Timothy Hennessy

	Name:	 	Timothy Hennessy
	Title:	 	Authorized Signatory

			
	Federal Tax ID#:	 	26-0656580

			
	
	 TENANT:
  
 VERISIGN, INC.

			
		
	By:	 	 /s/ James L. Morgensen

	Name:	 	James L. Morgensen
	Title:	 	Authorized Signatory

			
	Federal Tax ID#:	 	94-3221585

  

 40 

 EXHIBIT A 
 DESCRIPTION OF THE LAND 
 LEGAL DESCRIPTION 
 Real property in the City of Mountain View, County of Santa Clara, State of California, described as follows: 
 PARCEL 1, AS SHOWN ON THAT PARCEL MAP FILED FOR RECORD IN THE OFFICE OF THE RECORDER OF THE COUNTY OF SANTA CLARA, STATE OF CALIFORNIA ON NOVEMBER 27, 1979, IN BOOK 455
OF MAPS, PAGE(S) 3 AND 4. 
 EXCEPTING THEREFROM ALL THAT PORTION OF LAND GRANTED TO THE STATE OF CALIFORNIA BY DEED FILED FOR RECORD IN THE OFFICE OF THE
RECORDER OF THE COUNTY OF SANTA CLARA ON MARCH 28, 1997 UNDER RECORDER’S SERIES NO. 13654075, OFFICIAL RECORDS AND BEING MORE PARTICULARLY DESCRIBED AS FOLLOWS: 
 BEING A PORTION OF PARCEL NO. 1, AS SAID PARCEL IS SHOWN ON THAT CERTAIN MAP RECORDED IN THE OFFICE OF THE COUNTY RECORDER OF SANTA CLARA COUNTY, ON NOVEMBER 27, 1979, IN BOOK 455 OF MAPS AT PAGES 3 AND 4, SITUATED IN
THE CITY OF MOUNTAIN VIEW, COUNTY OF SANTA CLARA, STATE OF CALIFORNIA, MORE PARTICULARLY DESCRIBED AS FOLLOWS: 
 BEGINNING AT THE NORTHWEST CORNER OF PARCEL
3A DESCRIBED IN THAT FINAL ORDER OF CONDEMNATION RECORDED JUNE 9, 1969 IN BOOK 8561, PAGE 506, OFFICIAL RECORDS OF SANTA CLARA COUNTY, ON THE SOUTHWESTERLY LINE OF MIDDLEFIELD ROAD (100.00 FEET WIDE MEASURED AT RIGHT ANGLES); THENCE ALONG SAID LINE,
FROM A TANGENT WHICH BEARS S. 27° 27’ 26” E., ALONG A CURVE TO THE RIGHT HAVING A RADIUS OF 180.00 FEET, THROUGH A CENTRAL ANGLE OF 10° 03’ 03”, AN ARC LENGTH OF 31.50 FEET TO A POINT OF COMPOUND CURVATURE, ALONG A
TANGENT CURVE TO THE RIGHT HAVING A RADIUS OF 35.00 FEET, THROUGH A CENTRAL ANGLE OF 38° 22’ 34”, AN ARC LENGTH OF 23.44 FEET; THENCE N. 31° 06’ 28” W., 169.17 FEET; THENCE ALONG A TANGENT CURVE TO THE LEFT HAVING A
RADIUS OF 790.00 FEET, THROUGH A CENTRAL ANGLE OF 6° 00’ 08”, AN ARC LENGTH OF 82.76 FEET TO A POINT ON SAID SOUTHWESTERLY LINE OF SAID MIDDLEFIELD ROAD; THENCE ALONG LAST SAID LINE, S. 37° 13’ 39” E., 202.44 FEET TO THE
POINT OF BEGINNING. 
 ALSO EXCEPTING THEREFROM ALL THAT PORTION OF LAND GRANTED TO THE SANTA CLARA COUNTY TRANSIT DISTRICT BY DEED FILED FOR RECORD IN THE
OFFICE OF THE RECORDER OF THE COUNTY OF SANTA CLARA ON JUNE 5, 1997 UNDER RECORDER’S SERIES NO. 13728708, OFFICIAL RECORDS AND BEING MORE PARTICULARLY DESCRIBED AS FOLLOWS: 
 ALL THAT CERTAIN REAL PROPERTY SITUATE IN THE CITY OF MOUNTAIN VIEW, COUNTY OF SANTA CLARA, STATE OF CALIFORNIA, AND BEING A PORTION OF PARCEL 1 AS SHOWN ON THAT CERTAIN MAP RECORDED IN BOOK 456 OF MAPS, AT PAGE 4,
RECORDS OF SANTA CLARA COUNTY AND BEING DESCRIBED AS FOLLOWS: 
 BEGINNING AT THE NORTHEASTERLY CORNER OF SAID PARCEL I, SAID POINT ALSO BEING ON A
NON-TANGENT CURVE TO THE RIGHT (CONCAVE TO THE SOUTHWEST) THE CENTER OF WHICH BEARS S. 48° 33’ 00” W., 1,449.92 FEET; 
 THENCE ALONG THE
NORTHEASTERLY LINE OF SAID PARCEL 1 AND ALONG THE ARC OF SAID CURVE THROUGH A CENTRAL ANGLE OF 00° 04’ 50”, FOR AN ARC LENGTH OF 2.04 FEET TO A POINT ON A NON TANGENT CURVE TO THE RIGHT (CONCAVE TO THE NORTHWEST THE CENTER OF WHICH
BEARS N. 63° 52’ 10’ W., 619.77 FEET; 
  

 41 

 EXHIBIT A 
 DESCRIPTION OF THE LAND 
 (continued) 
  
 THENCE DEPARTING SAID NORTHEASTERLY LINE ALONG THE ARC OF SAID CURVE THROUGH A CENTRAL ANGLE
OF 18° 04’ 41”, FOR AN ARC LENGTH OF 195.55 FEET TO A POINT ON THE NORTHWESTERLY LINE OF SAID PARCEL 1, SAID POINT ALSO BEING ON A NON-TANGENT CURVE TO THE LEFT (CONCAVE TO THE NORTHWEST) THE CENTER OF WHICH BEARS, N. 45° 47’
29” W., 598.11 FEET; THENCE ALONG SAID NORTHWESTERLY LINE AND ALONG THE ARC OF SAID CURVE THROUGH A CENTRAL ANGLE OF 18° 47’ 08”, FOR AN ARC LENGTH OF 196.10 FEET TO THE POINT OF BEGINNING. 
 APN: 160-60-013 
  

 42 

 EXHIBIT B 
 SUBORDINATION, NON-DISTURBANCE 
 AND ATTORNMENT AGREEMENT  
 THIS AGREEMENT is made as of June 19, 2008, between [INSERT NAME OF PURCHASER’S LENDER]. (“Lender”), having an office
at [Insert Address of Purchaser’s Lender], and VeriSign, Inc. (“Tenant”), having an address of 487 East Middlefield Road, Mountain View, California 94043. 
 WITNESSETH: 
 WHEREAS, PR III Middlefield Road, LLC (“Landlord”) and
Tenant have entered into that certain lease dated June 19, 2008 (as amended, extended and renewed from time to time, the “Lease”) covering certain premises (the “Premises”) including the buildings located at
675 and 685 East Middlefield Road, Mountain View, California (the “Building”); and 
 WHEREAS, Lender [has made] [intends to
make] a loan (“Loan”) to Landlord, which loan [is] [will be] secured by a mortgage or deed of trust (the “Mortgage”) covering the Premises, the Building and the land on which the Building is situated, such land
being more particularly described in Exhibit A attached hereto (the Premises, the Building and the land being collectively referred to as the “Property”); 
 NOW, THEREFORE, for good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties agree as follows:

 1. The Lease is, and shall be, subject and subordinate to the Mortgage and to all renewals, modifications, extensions and replacements
thereof. 
 2. If the Mortgage is foreclosed, the mortgagee thereunder will not name or join Tenant as a party defendant or otherwise in any
suit, action or proceeding, and will not terminate the Lease or any option to purchase the Property or any part thereof contained therein or disturb Tenant’s occupancy of the Premises, so long as Tenant is not in default under any of the terms,
covenants or conditions of the Lease beyond the expiration of any applicable grace period set forth therein. 
 3. Any action by Lender to
enforce the Mortgage by reason of a default thereunder will not terminate the Lease or invalidate or constitute a breach of any of the terms thereof, and in the event Lender forecloses the Mortgage, or any party acquires the Property pursuant to a
power of sale contained in the Mortgage, or a deed in lieu of foreclosure is delivered (any or all of the above being referred to as a “Foreclosure Sale”), Tenant will attorn to Lender or other purchaser at any foreclosure sale
thereunder or to the grantee under a deed in lieu of foreclosure (the “Foreclosure Purchaser”), and will execute and deliver such instruments as may be reasonably necessary to evidence such attornment, provided Tenant receives from
such purchaser or grantee an agreement recognizing the validity of the Lease. 
  

 43 

 4. In the event of a Foreclosure Sale, the Foreclosure Purchaser agrees to be bound to Tenant under all
of the terms, covenants and conditions of the Lease from and after the date it acquires title to the Premises; provided, however, the Foreclosure Purchaser shall not be: 
  

	 	(a)	liable for any act or omission of any prior landlord (including Landlord), including any default on the part of the prior Landlord under the Lease, unless any such act or omission
or such default arises out of a continuing or present responsibility of Landlord or constitutes a continuing default pursuant to the terms of the Lease (e.g., an obligation on the part of Landlord to complete any repair or replacement
pursuant to the Lease); or 

  

	 	(b)	subject to any offsets or defenses that Tenant has against any prior landlord (including Landlord); or 

  

	 	(c)	bound by the payment of any rent or additional rent that Tenant paid more than one month in advance of the due date thereof to any prior landlord (including Landlord) unless
expressly provided for in the Lease; or 

  

	 	(d)	bound by any amendment or modification of the Lease made without Lender’s consent, which consent Lender shall not unreasonably withhold or delay. 

 5. Tenant shall send a copy of any notice or statement alleging a Landlord default under the Lease to Lender at the same time Tenant sends such notice or
statement to Landlord at the address set forth herein. The curing of any of Landlord’s defaults by Lender shall be treated as performance by Landlord. 
 6. This Agreement shall be governed by and construed in accordance with the laws of the State in which the Property is located. Neither this Agreement nor any provision hereof shall be construed against the party
causing this Agreement or such provision to be drafted. 
 7. This Agreement shall not be amended, modified or terminated nor may any of its
provisions be waived, except by a writing signed by the party against whom such amendment, modification, termination or waiver is sought to be enforced. 
 8. This Agreement shall run with the land and shall be binding upon and inure to the benefit of the parties hereto and their respective successors and assigns, including a Foreclosure Purchaser. 
 9. This Agreement shall not be effective unless and until it has been executed and delivered by Tenant and Lender. 
  

 44 

 IN WITNESS WHEREOF, the parties have executed this Agreement under seal as of the date first above
written. 
  

			
	LENDER:
	
	[INSERT NAME OF PURCHASER’S LENDER]
		
	By:	 	  

	Name:	 	  

	Its:	 	  

	
	TENANT:
	
	VERISIGN, INC.
		
	By:	 	  

	Name:	 	  

	Its:	 	  

  

 45 

									
	STATE OF	  	  
	  	  )	  		  	
		  		  	  )	  	  ss.	  	
	COUNTY OF	  	  
	  	  )	  		  	

 On
                    , 2008 before me,
                                    , Notary Public,
personally appeared
                                         
           , who proved to me on the basis of satisfactory evidence to be the person(s) whose name(s) is/are subscribed to the within instrument and acknowledged to me that he/she/they
executed the same in his/her/their authorized capacity(ies), and that by his/her/their signature(s) on the instrument the person(s), or the entity upon behalf of which the person(s) acted, executed the instrument. 
 I certify under PENALTY OF PERJURY under the laws of the State of California that the foregoing is true and correct. 
  

					
	Witness my hand and official seal.	  		  	
			
	  
	  	    (Seal)	  	
	Signature of Notary Public	  		  	

  

									
	STATE OF	  	  
	  	  )	  		  	
		  		  	  )	  	  ss.	  	
	COUNTY OF	  	  
	  	  )	  		  	

 On
                    , 2008 before me,
                                    , Notary Public,
personally appeared
                                         
           , who proved to me on the basis of satisfactory evidence to be the person(s) whose name(s) is/are subscribed to the within instrument and acknowledged to me that he/she/they
executed the same in his/her/their authorized capacity(ies), and that by his/her/their signature(s) on the instrument the person(s), or the entity upon behalf of which the person(s) acted, executed the instrument. 
 I certify under PENALTY OF PERJURY under the laws of the State of California that the foregoing is true and correct. 
  

					
	Witness my hand and official seal.	  		  	
			
	  
	  	    (Seal)	  	
	Signature of Notary Public	  		  	

  

 46

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