Document:

EX-10.7

 Exhibit 10.7 

EIGHTH AMENDMENT 
 THIS
EIGHTH AMENDMENT(the “Eighth Amendment”) is made and entered into as of the 16th day of January 2015 (the “Execution Date”), by and between NORMANDY LEXINGTON
ACQUISITION, LLC, a Delaware limited liability company (“Landlord”), and IMPRIVATA, INC., a Delaware corporation (“Tenant”). 

RECITALS 
 A. Landlord and
Tenant are parties to that certain office lease agreement dated April 24, 2007, which lease has been previously amended by a First Amendment dated as of January 14, 2009, a Second Amendment to Lease dated as of April 16, 2010
(“Second Amendment”), a Third Amendment to Lease dated as of March 2, 2012, a related Right of First Offer Letter dated October 29, 2012 (“Right of First Offer Letter”), a Fourth Amendment dated as of
December 28, 2012 (“Fourth Amendment”), a Fifth Amendment dated August 12, 2013 (“Fifth Amendment”), a Sixth Amendment to Lease dated as of January 14, 2014 (“Sixth Amendment”) and a
Seventh Amendment dated April 19, 2014 (collectively, the “Lease”). Pursuant to the Lease, Landlord has leased to Tenant space currently containing approximately: (i) 29,887 rentable square feet located on the third (3rd) floor, (ii) 19,863 rentable square feet located on the second (2nd) floor, and (iii) 22,268 rentable square feet on the
first (1st) floor of the Building 1 portion of the building (collectively, the “Original Premises”) located at 10 Maguire Road, Lexington, Massachusetts (the
“Building”). The Original Premises contain, in the aggregate, 72,018 rentable square feet. 
 B. Tenant has requested that
additional premises containing approximately 20,999 rentable square feet of space, comprising: (i) 8,872 rentable square feet on the second (2nd) floor of the Building, as shown on
Exhibit A, Eighth Amendment – Sheet 1 attached hereto (“Expansion Premises A”), and (ii) 12,127 rentable square feet on the second (2nd) floor of the
Building as shown on Exhibit A, Eighth Amendment – Sheet 2, attached hereto (“Expansion Premises B”), (hereinafter sometimes collectively referred to as the
“8th Amendment Expansion Premises”) be added to the Original Premises, and that the Lease be appropriately amended. Landlord is willing to do the same on the following terms and
conditions. 
 C. The Lease by its terms shall expire on September 30, 2019 (“Prior Termination Date”), and the
parties desire to extend the Term of the Lease, all on the following terms and conditions. 
 NOW, THEREFORE, in consideration of the
mutual covenants and agreements herein contained and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, Landlord and Tenant agree as follows: 

 

	I.	Expansion and Commencement Date. 

 Effective as of the Expansion Premises A
Commencement Date (defined below), the Original Premises shall be increased from 72,018 rentable square feet on the first (1st), second
(2nd) and third (3rd) floors of the Building to 80,890 rentable square feet on the first (1st), second (2nd) and third (3rd) floors of the Building by the addition of Expansion
Premises A, and effective as of the Expansion Premises B Commencement Date (defined below), the Original Premises, as previously increased by the addition thereto of Expansion Premises A, shall be further increased from 80,890 rentable square feet
on the first (1st), second (2nd) and third (3rd) floors of the Building to
93,017 rentable square 

 
feet on the first (1st), second (2nd) and third (3rd) floors of the Building by the addition of Expansion Premises B. From and after the Expansion Premises A Commencement Date, references in the Lease to the Premises shall be deemed to refer to
the Original Premises and Expansion Premises A, collectively, and from and after the Expansion Premises B Commencement Date, references in the Lease to the Premises shall be deemed to refer to the Original Premises, Expansion Premises A, and
Expansion Premises B, collectively. The 8th Amendment Expansion Premises are subject to all the terms and conditions of the Lease except as expressly modified herein, except that Tenant shall not
be entitled to receive any allowances, abatements, or other financial concessions granted with respect to the Original Premises unless such concessions are expressly provided for herein with respect to the 8th Amendment Expansion Premises. 
  

	 	A.	The “Expansion Premises A Commencement Date” shall be the date that Landlord delivers Expansion Premises A to Tenant in accordance with the terms of this Eighth Amendment, which is scheduled for
October 1, 2015. The Expansion Premises A Commencement Date shall be delayed to the extent that Landlord fails to deliver possession of Expansion Premises A for any reason, including but not limited to, holding over by the current occupant
thereof. Any such delay in the Expansion Premises A Commencement Date shall not subject Landlord to any liability for any loss or damage resulting therefrom; provided, however, that Landlord shall diligently use commercially reasonable efforts to
deliver possession of Expansion Premises A to Tenant as soon thereafter as possible. Notwithstanding the foregoing, in the event that Landlord does not deliver the Expansion Premises A to Tenant by December 1, 2015 (the “Target Expansion
Premises A Delivery Date”), then Tenant shall be entitled to an abatement of Base Rent with respect to Expansion Premises A in an amount equal to the product of (i) $607.67 multiplied by (ii) the number of days that elapse after
December 1, 2015, until the date on which the Expansion Premises A has been delivered to Sublessee in the condition required by this Eighth Amendment. If the Expansion Premises A Commencement Date is delayed, the Extended Termination Date (as
hereinafter defined) shall not be similarly extended. 

  

	 	B.	The “Expansion Premises B Commencement Date” shall be September 1, 2016. 

  

	 	C.	The “Expansion Premises A Rent Commencement Date” shall be three (3) months after the Expansion Premises A Commencement Date. 

 

	 	D.	The “Expansion Premises B Rent Commencement Date” shall be January 1, 2017. 

  

	II.	Base Rent. 

  

	 	A.	Original Premises Through Prior Termination Date. The Base Rent, Additional Rent and all other charges under the Lease with respect to the Original Premises shall be payable as provided therein through and
including the Prior Termination Date. 

  
 2 

	 	B.	Original Premises From and After Extension Date. As of the Extension Date (as defined hereafter), the schedule of Base Rent payable with respect to the Original Premises (72,018 square feet) during the Extended
Term (as defined hereafter) is the following: 

  

													
	 Time Period
	  	Annual Rate Per
Rentable Square Foot	 	  	Annual Base
Rent	 	  	Monthly Base Rent	 
	 10/1/19-12/31/19:
	  	$	28.00	  	  	$	2,016,504.00	* 	  	$	168,042.00	  
	 1/1/20-12/31/20:
	  	$	29.00	  	  	$	2,088,522.00	  	  	$	174,043.50	  
	 1/1/21-12/31/21:
	  	$	30.00	  	  	$	2,160,540.00	  	  	$	180,045.00	  

  

	*	annualized 

 All such Base Rent shall be payable by Tenant in accordance with the terms of the
Lease. 
  

	 	C.	8th Amendment Expansion Premises From 8th Amendment Expansion Premises Commencement Date Through Extended
Termination Date. In addition to Tenant’s obligation to pay Base Rent for the Original Premises, Tenant shall pay Base Rent for the 8th Amendment Expansion Premises as follows:

  

	 	I.	Expansion Premises A (8,872 square feet): 

  

													
	 Time Period
	  	Annual Rate Per
Rentable Square
Foot	 	  	Annual Base
Rent	 	  	Monthly Base Rent	 
				
	 Expansion Premises A Commencement Date – Expansion Premises A Rent Commencement Date:
	  	$	-0-	  	  	$	-0-	  	  	$	-0-	  
	 Expansion Premises A Rent Commencement Date-12/31/16:
	  	$	25.00	  	  	$	221,800.00	  	  	$	18,483.33	  
	 1/1/17-12/31/17:
	  	$	26.00	  	  	$	230,672.00	  	  	$	19,222.67	  
	 1/1/18-12/31/18:
	  	$	27.00	  	  	$	239,544.00	  	  	$	19,962.00	  
	 1/1/19-12/31/19:
	  	$	28.00	  	  	$	248,416.00	  	  	$	20,701.33	  
	 1/1/20-12/31/20:
	  	$	29.00	  	  	$	257,288.00	  	  	$	21,440.67	  
	 1/1/21-12/31/21:
	  	$	30.00	  	  	$	266,160.00	  	  	$	22,180.00	  

  

	 	II.	Expansion Premises B (12,127 square feet): 

  

													
	 Time Period
	  	Annual Rate Per
Rentable Square
Foot	 	  	Annual Base
Rent	 	  	Monthly Base Rent	 
	 9/1/16-12/31/16:
	  	$	-0-	  	  	$	-0-	  	  	$	-0-	  
	 1/1/17-12/31/17:
	  	$	26.00	  	  	$	315,302.00	  	  	$	26,275.17	  
	 1/1/18-12/31/18:
	  	$	27.00	  	  	$	327,429.00	  	  	$	27,285.75	  
	 1/1/19-12/31/19:
	  	$	28.00	  	  	$	339,556.00	  	  	$	28,296.33	  
	 1/1/20-12/31/20:
	  	$	29.00	  	  	$	351,683.00	  	  	$	29,306.92	  
	 1/1/21-12/31/21:
	  	$	30.00	  	  	$	363,810.00	  	  	$	30,317.50	  

  
 3 

	III.	Tenant’s Pro Rata Share With Respect to 8th Amendment Expansion Premises. 

 

	 	A.	For the period commencing with the Expansion Premises A Commencement Date, and ending on the Extended Termination Date, Tenant’s Pro Rata Share for Expansion Premises A shall be 3.11% (i.e., 8,872 rentable square
feet of Expansion Premises A divided by 285,133 rentable square feet of the Building). 

  

	 	B.	For the period commencing with the Expansion Premises B Commencement Date, and ending on the Extended Termination Date, Tenant’s Pro Rata Share for Expansion Premises B shall be 4.25% (i.e., 12,127 rentable square
feet of Expansion Premises B divided by 285,133 rentable square feet of the Building). 

  

	IV.	Expenses and Taxes. 

  

	 	A.	Original Premises during the Extended Term. For the period commencing with the Extension Date, and ending on the Extended Termination Date, Tenant shall pay for Tenant’s Pro Rata Share of Expenses and Taxes
applicable to the Original Premises in accordance with the terms of the Lease. 

  

	 	B.	Expansion Premises A Commencement Date Through Extended Termination Date. For the period commencing with the Expansion Premises A Commencement Date, and ending on the Extended Termination Date, Tenant shall pay
for Tenant’s Pro Rata Share of Expenses and Taxes applicable to Expansion Premises A in accordance with the terms of the Lease, provided, however, during such period: 

 

	 	(i)	the Base Year for the computation of Tenant’s Pro Rata Share of Expenses applicable to Expansion Premises A shall be calendar year 2015; and 

 

	 	(ii)	the Base Year for the computation of Tenant’s Pro Rata Share of Taxes applicable to Expansion Premises A shall be fiscal year 2016 (i.e., July 1, 2015, through June 30, 2016). 

 

	 	C.	Expansion Premises B Commencement Date Through Extended Termination Date. For the period commencing with the Expansion Premises B Commencement Date, and ending on the Extended Termination Date, Tenant shall pay
for Tenant’s Pro Rata Share of Expenses and Taxes applicable to Expansion Premises B in accordance with the terms of the Lease, provided, however, during such period: 

 

	 	(i)	the Base Year for the computation of Tenant’s Pro Rata Share of Expenses applicable to Expansion Premises B shall be calendar year 2015; and 

 

	 	(ii)	the Base Year for the computation of Tenant’s Pro Rata Share of Taxes applicable to Expansion Premises B shall be fiscal year 2016 (i.e., July 1, 2015, through June 30, 2016). 

  
 4 

	V.	Condition of 8th Amendment Expansion Premises. Landlord shall deliver the 8th Amendment Expansion
Premises to Tenant on the Expansion Premises A Commencement Date, and the Expansion Premises B Commencement Date, respectively, in broom-clean condition, free of all personal property, debris and free of any occupants, but otherwise in its “as
is” condition as of each such date, subject, however, to the following provisions of this Section V. Tenant agrees to accept the 8th Amendment Expansion Premises “as is” without any
agreements, representations, understandings or obligations on the part of Landlord to perform any alterations, repairs or improvements, except as may be expressly provided otherwise in this Eighth Amendment. Notwithstanding the foregoing, Landlord
agrees that the Building systems serving the 8th Amendment Expansion Premises will be in good working order at the time Landlord delivers each of Expansion Premises A and Expansion Premises B to
Tenant hereunder. Landlord further agrees that Expansion Premises B shall be separately demised at Landlord’s sole cost and expense prior to the Expansion B Commencement Date. In addition, if the electricity serving the 8th Amendment Expansion Premises is not separately metered or submetered, Landlord shall, it its sole cost and expense, prior to the Expansion B Commencement Date, cause the electric service to the 8th Amendment Expansion Premises either (i) to be separately metered or submetered or (ii) to be connected to the meter or submeter servicing the Original Premises. 

 

	VI.	Electricity with Respect to 8th Amendment Expansion Premises. Tenant shall pay, as Additional Rent, for all electricity consumed in the 8th Amendment Expansion Premises in accordance with the terms and conditions set forth in Section 7 of the Lease. 

 

	VII.	Responsibility for Improvements to Additional Expansion Premises. Tenant may perform improvements to the 8th Amendment Expansion Premises in accordance
with the Work Letter attached hereto as Exhibit B, Eighth Amendment, and Tenant shall be entitled to the 8th Amendment Expansion Allowance (as defined in Exhibit B, Eighth Amendment) in
connection with work in the 8th Amendment Expansion Premises only, as more fully described in Exhibit B, Eighth Amendment. 

 

	VIII.	Extension. 

 The Term of the Lease is hereby extended for a period commencing on
October 1, 2019, and terminating on December 31, 2021 (“Extended Termination Date”), unless sooner terminated in accordance with the terms of the Lease. That portion of the Term commencing the day immediately following the
Prior Termination Date (“Extension Date”) and ending on the Extended Termination Date shall be referred to herein as the “Extended Term”. 

  
 5 

	IX.	Extension Options. The Extension Option set forth in Section V of the Third Amendment, as amended by Section IX of the Fourth Amendment and Section VIII of the Fifth Amendment, shall apply to both the
Original Premises and the 8th Amendment Expansion Premises (and may be exercised only with respect to the entirety of both such spaces); provided, however, that Section IX of the Fourth Amendment
shall be modified as follows: 

  

	 	i)	“Section V.A. is deleted and the following is substituted in its place: 

 “Grant
of Option: Conditions. Tenant shall have the right to extend the Term (the “Extension Option”) for one (1) additional period of five (5) years, commencing on January 1, 2022, and ending on December 31, 2026
(the “Fifth Extended Term”), if:” 
  

	 	ii)	Section V.A.(i) is deleted and the following is substituted in its place: 

 “(i) Landlord
received notice of exercise (“Initial Extension Notice”) not later than January 1, 2021, and not earlier than October 1, 2020.” 
  

	 	iii)	The first (1st) sentence of Section V.B.(i) is deleted and the following is substituted in its place: 

“(i) The initial Base Rent rate per rentable square foot during the Fifth Extended Term shall equal the Prevailing Market rate
(hereinafter defined) per rentable square foot for the Premises.” 
  

	X.	Right of First Offer. Tenant shall continue to have the Right of First Offer set forth in Section VII of the Third Amendment, except that Section VII of the Third Amendment shall be modified as follows:

  

	 	i)	The first (1st) sentence of Section VII.A. of the Third Amendment is deleted and the following is substituted in its place: 

“Tenant shall have the following ongoing right of first offer (the “Right of First Offer”) with respect to:
(i) 11,385 square feet on the first (1st) floor of Building 2, as shown on Exhibit C, Eighth Amendment – Sheet 1, attached hereto, and (ii) 19,725 square feet on the third
(3rd) floor of Building 2, as shown on Exhibit C, Eighth Amendment – Sheet 2, attached hereto (the “Offering Space”). 

 

	XI.	Letter of Credit 

 The parties hereby acknowledge that Landlord is currently
holding a Security Deposit in the form of a Letter of Credit in the amount of One Hundred Twenty Thousand Four Hundred Seventeen and 27/100 Dollars ($120,417.27) pursuant to Section 6 of the Lease, as modified by Section 2.01 of the First
Amendment, Section VI of the Second Amendment, Section VIII of the Third Amendment, Section III of the Fourth Amendment, and Section X of the Fifth Amendment. No additional Security Deposit shall be required with respect to the 8th Amendment
Expansion Premises, and Landlord shall continue to hold the current Security Deposit/Letter of Credit in accordance with the terms of the Lease. 
  

	XII.	Inapplicable and Deleted Lease Provisions. 

  

	 	A.	Exhibit C to the Lease and Schedule I to Exhibit C to the Lease (Work Letter); Section IV of the Second Amendment (Abatement of Rent); Exhibit B of the Fourth Amendment (Work Letter); Exhibit B of the Fifth Amendment
(Work Letter), and Exhibit B to the Sixth Amendment shall have no applicability with respect to this Eighth Amendment. 

  

	 	B.	Section IX of the Sixth Amendment (Termination Option) is hereby deleted and is of no further force or effect. 

  
 6 

	XIII.	Miscellaneous. 

  

	 	A.	This Eighth Amendment and the Lease set forth the entire agreement between the parties with respect to the matters set forth herein. There have been no additional oral or written representations or agreements. Under no
circumstances shall Tenant be entitled to any Rent abatement, improvement allowance, leasehold improvements, or other work to the Premises, or any similar economic incentives that may have been provided Tenant in connection with entering into the
Lease, unless specifically set forth in this Eighth Amendment. 

  

	 	B.	Except as herein modified or amended, the provisions, conditions and terms of the Lease shall remain unchanged and in full force and effect. 

 

	 	C.	In the case of any inconsistency between the provisions of the Lease and this Eighth Amendment, the provisions of this Eighth Amendment shall govern and control. 

 

	 	D.	Submission of this Eighth Amendment by Landlord is not an offer to enter into this Eighth Amendment but rather is a solicitation for such an offer by Tenant. Landlord shall not be bound by this Eighth Amendment until
Landlord has executed and delivered the same to Tenant. 

  

	 	E.	The capitalized terms used in this Eighth Amendment shall have the same definitions as set forth in the Lease to the extent that such capitalized terms are defined therein and not redefined in this Eighth Amendment.

  

	 	F.	Tenant hereby represents to Landlord that Tenant has dealt with no broker in connection with this Eighth Amendment, other than T3 Realty Advisors (“Tenant’s Broker”) and TW/Richards Barry
Joyce & Partners, LLC (“Landlord’s Broker”) (collectively, the “Brokers”). Tenant agrees to indemnify and hold Landlord, its trustees, members, principals, beneficiaries, partners, officers, directors,
employees, mortgagee(s) and agents, and the respective principals and members of any such agents harmless from all claims of any brokers, other than the Brokers, claiming to have represented Tenant in connection with this Eighth Amendment. Landlord
hereby represents to Tenant that Landlord has dealt with no broker, other than the Brokers, in connection with this Eighth Amendment. Landlord agrees to indemnify and hold Tenant, its trustees, members, principals, beneficiaries, partners, officers,
directors, employees, and agents, and the respective principals and members of any such agents harmless from all claims of any brokers claiming to have represented Landlord in connection with this Eighth Amendment. Landlord shall be responsible for
any commission payable to the Brokers by reason of this Eighth Amendment. 

  

	 	G.	Each signatory of this Eighth Amendment represents hereby that he or she has the authority to execute and deliver the same on behalf of the party hereto for which such signatory is acting. 

  
 7 

 IN WITNESS WHEREOF, Landlord and Tenant have duly executed this Sixth Amendment as of the
day and year first above written. 
  

					
	LANDLORD:
	
	 NORMANDY LEXINGTON ACQUISITION, LLC,

a Delaware limited liability company

		
	By:		

		 	  

			Name:		Joseph Adamo
			Title:		Vice President
	
	TENANT:
	
	 IMPRIVATA, INC.,
 a Delaware
corporation

		
	By:		

		 	  

			Name:		Jeff Kalowski
			Title:		CFO

  
 8 

 EXHIBIT A, EIGHTH AMENDMENT – SHEET 1 

EXPANSION PREMISES A 
  

 

  
 Exhibit A-1, Eighth
Amendment 

 EXHIBIT A, EIGHTH AMENDMENT – SHEET 2 

EXPANSION PREMISES B 
  

 

  
 Exhibit A-2, Eighth
Amendment 

 EXHIBIT B, EIGHTH AMENDMENT 

WORK LETTER 
 This
Exhibit is attached to and made a part of the Eighth Amendment by and between NORMANDY LEXINGTON ACQUISITION, LLC, a Delaware limited liability company (“Landlord”), and IMPRIVATA, INC., a Delaware corporation
(“Tenant”), for space in the Building located at 10 Maguire Road, Lexington, Massachusetts. 
 As used in this Workletter,
the “Premises” shall be deemed to mean the 8th Amendment Expansion Premises, as defined in the attached Eighth Amendment. 

8th Amendment Expansion Premises Alterations and
8th Amendment Expansion Premises Allowance: 
  

	 	A.	From and after the Expansion Premises A Commencement Date, Tenant shall have the right to perform alterations and improvements in Expansion Premises A and from and after the Expansion Premises B Commencement Date,
Tenant shall have the right to perform alterations and improvements in Expansion Premises B. All such alterations and improvements are referred to herein as the “8th Amendment Expansion
Premises Alterations”. Notwithstanding the foregoing, Tenant and its contractors shall not have the right to perform 8th Amendment Expansion Premises in the 8th Amendment Expansion Premises unless and until Tenant has complied with all of the terms and conditions of Section 9 of the Lease, including, without limitation, approval by Landlord of the
final plans for the 8th Amendment Expansion Premises Alterations and the contractors to be retained by Tenant to perform such 8th Amendment
Expansion Premises Alterations. Landlord’s consent is solely for the benefit of Landlord, and neither Tenant nor any third party shall have the right to rely on Landlord’s consent, or its approval of Tenant’s plans, for any purpose
whatsoever. Landlord shall execute any documents reasonably required to obtain such permits or governmental approvals, and shall otherwise reasonably cooperate with Tenant’s efforts to obtain the same at no out of pocket expense to Landlord.
Tenant shall be responsible for all elements of the design of Tenant’s plans (including, without limitation, compliance with law, functionality of design, the structural integrity of the design, the configuration of the 8th Amendment Expansion Premises and the placement of Tenant’s furniture, appliances and equipment), and Landlord’s approval of Tenant’s plans shall in no event relieve Tenant of the
responsibility for such design. Landlord’s approval of the contractors to perform the 8th Amendment Expansion Premises Alterations shall not be unreasonably withheld, delayed or conditioned.
The parties agree that Landlord’s approval of the general contractor to perform the 8th Amendment Expansion Premises Alterations shall not be considered to be unreasonably withheld if any
such general contractor (i) does not have trade references reasonably acceptable to Landlord, (ii) does not maintain insurance as required pursuant to the terms of this Lease, (iii) does not have the ability to be bonded for the work in an
amount of no less than 150% of the total estimated cost of the 8th Amendment Expansion Premises Alterations, (iv) does not provide current financial statements reasonably acceptable to
Landlord, or (v) is not licensed as a contractor in the Commonwealth of Massachusetts. Tenant acknowledges the foregoing is not intended to be an exclusive list of the reasons why Landlord may reasonably withhold its consent to a general
contractor. Landlord hereby approves Avison Young (“AY”) as Tenant’s general contractor. 

  
 Exhibit B-1, Eighth
Amendment 

	 	B.	 Provided Tenant is not in default (after the expiration of any applicable grace or cure period), Landlord agrees to contribute Seven Hundred
Thirty-Four Thousand Nine Hundred Sixty-Five and 00/100 Dollars ($734,965.00) (i.e., $35.00 per square foot of the 8th Amendment Expansion Premises) (the “8th Amendment Expansion Premises Allowance”) toward the cost of performing the 8th Amendment Expansion Premises Alterations in preparation
of Tenant’s occupancy of the 8th Amendment Expansion Premises. The 8th Amendment Expansion Premises Allowance may only be used for the
cost of preparing design and construction documents and mechanical and electrical plans and hard costs in connection with the 8th Amendment Expansion Premises Alterations. The 8th Amendment Expansion Premises Allowance, less a 10% (or 5%, if such percentage is the retainage amount required in Tenant’s construction contracts) retainage (which retainage shall be payable as
part of the final draw), shall be paid to Tenant or, at Landlord’s option, to the order of the general contractor that performs the 8th Amendment Expansion Premises Alterations, in periodic
disbursements within thirty (30) days after receipt of the following documentation: (i) an application for payment and sworn statement of contractor substantially in the form of AIA Document G-702 covering all work for which disbursement
is to be made to a date specified therein; (ii) a certification from an AIA architect substantially in the form of the Architect’s Certificate for Payment which is located on AIA Document G702, Application and Certificate of Payment; (iii)
Contractor’s, subcontractor’s and material supplier’s waivers of liens which shall cover all 8th Amendment Expansion Premises Alterations for which disbursement is being requested
and all other statements and forms required for compliance with the mechanics’ lien laws of the Commonwealth of Massachusetts, together with all such invoices, contracts, or other supporting data as Landlord or Landlord’s Mortgagee may
reasonably require; (iv) a cost breakdown for each trade or subcontractor performing the 8th Amendment Expansion Premises Alterations; (v) plans and specifications for the 8th Amendment Expansion Premises Alterations, together with a certificate from an AIA architect that such plans and specifications comply in all material respects with all laws affecting the Building,
Property and 8th Amendment Expansion Premises; (vi) copies of all construction contracts for the 8th Amendment Expansion Premises
Alterations, together with copies of all change orders, if any; and (vii) a request to disburse from Tenant containing an approval by Tenant of the work done and a good faith estimate of the cost to complete the 8th Amendment Expansion Premises Alterations. Upon completion of the 8th Amendment Expansion Premises Alterations, and prior to final disbursement of
the 8th Amendment Expansion Premises Allowance, Tenant shall furnish Landlord with: (1) general contractor and architect’s completion affidavits, (2) full and final waivers of lien,
(3) receipted bills covering all labor and materials expended and used, (4) as-built plans of the 8th Amendment Expansion Premises Alterations, and (5) the certification of Tenant
and its architect that the 8th Amendment Expansion Premises Alterations have been installed in a good and workmanlike manner in accordance with the approved plans, and in accordance with
applicable laws, codes and ordinances. In no event shall Landlord be required to disburse the 8th Amendment Expansion Premises Allowance more than one time per month. If the 8th Amendment Expansion Premises Alterations 

  
 Exhibit B-2, Eighth
Amendment 

	 	
exceed the 8th Amendment Expansion Premises Allowance, Tenant shall be entitled to the
8th Amendment Expansion Premises Allowance in accordance with the terms hereof, but each individual disbursement of the 8th Amendment Expansion
Premises Allowance shall be disbursed in the proportion that the 8th Amendment Expansion Premises Allowance bears to the total cost for the 8th
Amendment Expansion Premises Alterations, less the 10% (or lesser amount, as set forth above) retainage referenced above. Notwithstanding anything herein to the contrary, Landlord shall not be obligated to disburse any portion of the 8th Amendment Expansion Premises Alterations during the continuance of an uncured default under the Lease, and Landlord’s obligation to disburse shall only resume when and if such default is cured.

  

	 	C.	In no event shall the 8th Amendment Expansion Premises Allowance be used for the purchase of equipment, furniture or other items of personal property of Tenant. If
Tenant does not submit a request for payment of the entire 8th Amendment Expansion Premises Allowance to Landlord in accordance with the provisions contained in this Exhibit B, Eighth
Amendment, by the date that is eighteen (18) months after the Expansion Premises B Commencement Date, any unused amount shall accrue to the sole benefit of Landlord, it being understood that Tenant shall not be entitled to any credit,
abatement or other concession in connection therewith. Notwithstanding the foregoing, provided that Tenant has commenced construction of the 8th Amendment Expansion Premises Alterations before
March 1, 2018, and is diligently pursuing the completion thereof, Tenant may elect to extend the foregoing deadline until September 1, 2018, by giving Landlord notice of such election before March 1, 2018. Tenant shall be responsible
for all applicable state sales or use taxes, if any, payable in connection with the 8th Amendment Expansion Premises Alterations and/or 8th
Amendment Expansion Premises Allowance. Landlord shall be entitled to deduct from the 8th Amendment Expansion Premises Allowance a construction management fee for Landlord’s oversight of the
8th Amendment Expansion Premises Alterations in an amount equal to 5% of the total cost of the 8th Amendment Expansion Premises Alterations;
provided however that such fee shall be waived if Tenant employs AY, or any successor general contractor used by Landlord, as its general contractor. 

  

	 	D.	Except as otherwise set forth in this Eighth Amendment, Tenant agrees to accept the 8th Amendment Expansion Premises in their “as-is” condition and
configuration, it being agreed that Landlord shall not be required to perform any work or, except as provided above with respect to the 8th Amendment Expansion Premises Allowance, incur any costs
in connection with the construction or demolition of any improvements in the 8th Amendment Expansion Premises. 

 

	 	E.	This Exhibit B, Eighth Amendment shall not be deemed applicable to any additional space added to the Premises at any time or from time to time, whether by any options under the Lease or otherwise, or to any
portion of the original Premises or any additions to the Premises in the event of a renewal or extension of the original Term of the Lease, whether by any options under the Lease or otherwise, unless expressly so provided in the Lease or any
amendment or supplement to the Lease. 

  
 Exhibit B-3, Eighth
Amendment 

 EXHIBIT C, EIGHTH AMENDMENT – SHEET 1 

OFFERING SPACE 
  

 

  
 Exhibit C-1, Eighth
Amendment 

 EXHIBIT C, EIGHTH AMENDMENT – SHEET 2 

OFFERING SPACE 
  

 

  
 Exhibit C-2, Eighth
AmendmentEX-10.8

 Exhibit 10.8 

FIFTH LOAN MODIFICATION AGREEMENT 

This Fifth Loan Modification Agreement (this “Loan Modification Agreement”) is entered into as of February 19, 2015, by and
between SILICON VALLEY BANK, a California corporation, with its principal place of business at 3003 Tasman Drive, Santa Clara, California 95054 and with a loan production office located at 275 Grove Street, Suite 2-200, Newton, Massachusetts
02466 (“Bank”) and IMPRIVATA, INC., a Delaware corporation, with its chief executive office located at 10 Maguire Road, Lexington, Massachusetts 02421 (“Borrower”). 

1. DESCRIPTION OF EXISTING INDEBTEDNESS AND OBLIGATIONS. Among other indebtedness and obligations which may be owing by Borrower to Bank, Borrower is
indebted to Bank pursuant to a loan arrangement dated as of January 30, 2009, evidenced by, among other documents, a certain Loan and Security Agreement dated as of January 30, 2009, between Borrower and Bank, as amended by a First Loan
Modification and Reinstatement Agreement dated as of April 26, 2010, as further amended by a Second Loan Modification Agreement dated as of May 24, 2011, and as further amended by a certain Third Loan Modification and Reinstatement
Agreement dated as of December 12, 2012, and as further modified by a certain Fourth Loan Modification and Reinstatement Agreement dated as of February 27, 2014 (the “Fourth Loan Modification”) (as amended, the “Loan
Agreement”). Capitalized terms used but not otherwise defined herein shall have the same meaning as in the Loan Agreement. 
 2. DESCRIPTION OF
COLLATERAL. Repayment of the Obligations is secured by the Collateral as described in the Loan Agreement (together with any other collateral security granted to Bank, the “Security Documents”). Hereinafter, the Security Documents,
together with all other documents evidencing or securing the Obligations shall be referred to as the “Existing Loan Documents”. 
 3.
DESCRIPTION OF CHANGE IN TERMS. 
  

	 	A.	Modifications to Loan Agreement. 

  

	 	1	The Loan Agreement shall be amended by deleting the following text, appearing in Section 6.2(a): 

“(i) as soon as available, but no later than thirty (30) days after the last day of each month, a company prepared consolidated
balance sheet and income statement covering Borrower’s and each of its Subsidiary’s operations for such month certified by a Responsible Officer and in a form reasonably acceptable to Bank;” 

and inserting in lieu thereof the following: 

“(i) (1) as soon as available, but no later than thirty (30) days after the last day of each month, a company prepared
consolidated balance sheet and income statement covering Borrower’s and each of its Subsidiary’s operations for such month certified by a Responsible Officer and in a form reasonably acceptable to Bank; provided, however, Borrower shall
not be required to deliver the financial statements described in this subsection (i) with respect to a particular month if no Advance was outstanding or requested at any time during the period commencing on the first day of such month through
and including the date that is thirty (30) days after the last day of such month, and (2) for any calendar quarter for which the financial statements described in this subsection (i) were not required to be delivered for any month in
such quarter, Borrower shall deliver to Bank, as soon as available, but no later than forty-five (45) days after the last day of such quarter, a company prepared consolidated balance sheet and income statement covering Borrower’s and each
of its Subsidiary’s operations for such quarter certified by a Responsible Officer and in a form reasonably acceptable to Bank;” 

  
 1 

	 	2	The Loan Agreement shall be amended by deleting the following text, appearing in Section 6.2 thereof: 

“(b) Within thirty (30) days after the last day of each month, deliver to Bank a duly completed Borrowing Base Certificate
signed by a Responsible Officer, with aged listings of accounts receivable and accounts payable (by invoice date). 
 (c) Within thirty
(30) days after the last day of each month, deliver to Bank with the monthly financial statements, a duly completed Compliance Certificate signed by a Responsible Officer setting forth calculations showing compliance with the financial
covenants set forth in this Agreement.” 
 and inserting in lieu thereof the following: 

“(b) (i) Within thirty (30) days after the last day of each month, deliver to Bank a duly completed Borrowing Base
Certificate signed by a Responsible Officer, with aged listings of accounts receivable and accounts payable (by invoice date); provided, however, Borrower shall not be required to deliver the materials described in this subsection (b) for any
month for which no Advance was outstanding or requested at any time during the period commencing on the first day of such month through and including the date that is thirty (30) days after the last day of such month and (ii) together with
each request for an Advance if at such time there are no Advances outstanding. 
 (c) (i) Within thirty (30) days after the last
day of each month, deliver to Bank with the monthly financial statements, a duly completed Compliance Certificate signed by a Responsible Officer setting forth calculations showing compliance with the financial covenants set forth in this Agreement;
provided, however, Borrower shall not be required to deliver a Compliance Certificate with respect to a particular month if no Advance was outstanding or requested at any time during the period commencing on the first day of such month through and
including the date that is thirty (30) days after the last day of such month and (ii) for any calendar quarter for which a Compliance Certificate was not required to be delivered for any month in such quarter, Borrower shall deliver to
Bank, within forty-five (45) days after the last day of such quarter, a Compliance Certificate signed by a Responsible Officer setting forth calculations showing compliance with the financial covenants set forth in this Agreement.” 

 

	 	3	The Loan Agreement shall be amended by deleting the following text, appearing in Section 6.7 thereof: 

“6.7 Financial Covenants. Borrower shall maintain at all times, to be tested as of the last day of each month, unless
otherwise noted, on a consolidated basis with respect to Borrower and its Subsidiaries:” 
 and inserting in lieu thereof the
following: 

  
 2 

 “6.7 Financial Covenant — Adjusted Quick Ratio. Borrower shall maintain at all
times, to be tested as of the last day of each month, on a consolidated basis with respect to Borrower and its Subsidiaries an Adjusted Quick Ratio of at least 1.25 to 1.0. Notwithstanding the foregoing, with respect to the first and second months
in any calendar quarter, Borrower shall not be required to comply with the financial covenant set forth in this Section 6.7 for any such month to the extent that no Advance was outstanding or requested (i) during such month and
(ii) after such month up to and including the date on which Bank receives the applicable financial reporting evidencing Borrower’s Adjusted Quick Ratio for such calendar quarter.” 

 

	 	4	The Loan Agreement shall be amended by deleting the following definition, appearing in Section 13.1 thereof: 

“ “Revolving Line Maturity Date” is February 26, 2015.” 

and inserting in lieu thereof the following: 

“ “Revolving Line Maturity Date” is April 27, 2015.” 

 

	 	5	The Loan Agreement shall be amended by deleting the Compliance Certificate attached thereto as Exhibit D and inserting in lieu thereof the Compliance Certificate attached hereto as Schedule
1. 

 4. FEES AND EXPENSES. Borrower shall reimburse Bank for all legal fees and expenses incurred in connection with this
amendment to the Existing Loan Documents. 
 5. RATIFICATION OF PERFECTION CERTIFICATE. Borrower hereby ratifies, confirms and reaffirms, all and
singular, the terms and disclosures contained in a certain Perfection Certificate dated as of December 12, 2012, and acknowledges, confirms and agrees that the disclosures and information Borrower provided to Bank in such Perfection Certificate
have not changed, as of the date hereof except as set forth on Schedule 3 to the Fourth Loan Modification. 
 6. CONSISTENT CHANGES. The
Existing Loan Documents are hereby amended wherever necessary to reflect the changes described above. 
 7. RATIFICATION OF LOAN DOCUMENTS. Borrower
hereby ratifies, confirms, and reaffirms all terms and conditions of all security or other collateral granted to the Bank, and confirms that the indebtedness secured thereby includes, without limitation, the Obligations. 

8. NO DEFENSES OF BORROWER. Borrower hereby acknowledges and agrees that Borrower has no offsets, defenses, claims, or counterclaims against Bank with
respect to the Obligations, or otherwise, and that if Borrower now has, or ever did have, any offsets, defenses, claims, or counterclaims against Bank, whether known or unknown, at law or in equity, all of them are hereby expressly WAIVED and
Borrower hereby RELEASES Bank from any liability thereunder. 
 9. CONTINUING VALIDITY. Borrower understands and agrees that in modifying the existing
Obligations, Bank is relying upon Borrower’s representations, warranties, and agreements, as set forth in the Existing Loan Documents. Except as expressly modified pursuant to this Loan Modification Agreement, the terms of the Existing Loan
Documents remain unchanged and in full force and effect. Bank’s agreement to modifications to the existing Obligations pursuant to this Loan Modification Agreement in no way shall obligate Bank to make any future modifications to the
Obligations. Nothing in this Loan Modification Agreement shall constitute a satisfaction of the Obligations. It is the intention of Bank and Borrower to retain as liable parties all makers of Existing Loan 

  
 3 

 Documents, unless the party is expressly released by Bank in writing. No maker will be released by virtue of this
Loan Modification Agreement. 
 10. COUNTERSIGNATURE. This Loan Modification Agreement shall become effective only when it shall have been executed by
Borrower and Bank. 
 [The remainder of this page is intentionally left blank] 

  
 4 

 This Loan Modification Agreement is executed as a sealed instrument under the laws of the
Commonwealth of Massachusetts as of the date first written above. 
  

									
	BORROWER:				BANK:		
			
	IMPRIVATA, INC.				SILICON VALLEY BANK
					
	By:		 /s/ Jeff Kalowski
				By:		 /s/ Kristy Vlahos

	Name:		Jeff Kalowski				Name:		Kristy Vlahos
	Title:		CFO				Title:		Director

 Schedule 1 

EXHIBIT D - COMPLIANCE CERTIFICATE 
  

					
	TO:        SILICON VALLEY BANK	 		  	Date:                                     

	FROM:  IMPRIVATA, INC.	 		  	

 The undersigned authorized officer of IMPRIVATA, INC. (“Borrower”) certifies that under the terms and
conditions of the Loan and Security Agreement between Borrower and Bank (as amended, the “Agreement”), (1) Borrower is in compliance for the period
ending                     with all required covenants except as noted below, (2) there are no Events of Default, (3) all representations
and warranties in the Agreement are true and correct in all material respects on this date except as noted below; provided, however, that such materiality qualifier shall not be applicable to any representations and warranties that already are
qualified or modified by materiality in the text thereof; and provided, further that those representations and warranties expressly referring to a specific date shall be true, accurate and complete in all material respects as of such date,
(4) Borrower, and each of its Subsidiaries, has timely filed all required tax returns and reports, and Borrower has timely paid all foreign, federal, state and local taxes, assessments, deposits and contributions owed by Borrower except as
otherwise permitted pursuant to the terms of Section 5.9 of the Agreement, and (5) no Liens have been levied or claims made against Borrower or any of its Subsidiaries relating to unpaid employee payroll or benefits of which Borrower has
not previously provided written notification to Bank. Attached are the required documents supporting the certification. The undersigned certifies that these are prepared in accordance with GAAP consistently applied from one period to the next except
as explained in an accompanying letter or footnotes. The undersigned acknowledges that no borrowings may be requested at any time or date of determination that Borrower is not in compliance with any of the terms of the Agreement, and that compliance
is determined not just at the date this certificate is delivered. Capitalized terms used but not otherwise defined herein shall have the meanings given them in the Agreement. 

Please indicate compliance status by circling Yes/No under “Complies” column. 

 

					
	 Reporting Covenant
	  	 Required
	  	Complies
	Monthly financial statements with	  	Monthly within 30 days (waived for	  	Yes    No
	Compliance Certificate	  	any month for which no Advance was	  	
		  	outstanding or requested during the	  	
		  	period commencing on the first day of	  	
		  	such month through and including the	  	
		  	date that is 30 days from the end of	  	
		  	such month); within 45 days of the end	  	
		  	of each quarter in which the monthly	  	
		  	financial statements and compliance	  	
		  	certificates were not required to be	  	
		  	delivered for any month in such quarter	  	
			
	Annual financial statement (CPA Audited)	  	FYE within 210 days	  	Yes    No
			
	10-Q, 10-K and 8-K	  	Within 5 days after filing with SEC	  	Yes    No
			
	Borrowing Base Certificate (with A/R & A/P Agings and a	  	Monthly within 30 days at all times	  	Yes    No
	deferred revenue report)	  	when any Advance is outstanding or	  	
		  	requested and together with each	  	
		  	request for an Advance if at such time	  	
		  	there are no Advances outstanding	  	
			
	Operating Budgets and Projections	  	FYE within 30 days	  	Yes    No

													
	 Financial Covenant
	  	Required	 	  	Actual	 	  	Complies	 
	 Maintain at all times, to be tested on a monthly basis (provided that, for the first and second months in each calendar quarter,
testing shall be waived if there are no Obligations outstanding during any such months through and including the date on which Bank receives the applicable financial reporting):
	  				  				  			
				
	 Adjusted Quick Ratio
	  	 	1.25:1.0	  	  	 	:1.0	  	  	 	Yes No	  

 The following financial covenant analysis and information set forth in Schedule 1 attached hereto are true and accurate as of
the date of this Certificate. 
 The following are the exceptions with respect to the certification above: (If no exceptions exist, state
“No exceptions to note.”) 
  

					
	IMPRIVATA, INC.	 		 	BANK USE ONLY
			
		 		 	Received
by:                                        
                                       
	By:                                     
                                         
                   	 		 	AUTHORIZED SIGNER
	Name:                                     
                                         
              	 		 	
	Title:                                     
                                         
                	 		 	Date:                                     
                                         
                
			
		 		 	Verified:                                    
                                         
          
		 		 	AUTHORIZED SIGNER
		 		 	
			
		 		 	Date:                                     
                                         
                
			
		 		 	Compliance Status:             Yes         No

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00244-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00244-of-00352.parquet"}]]