Document:

Exhibit 10.1

 

BAY COLONY CORPORATE CENTER

1100 WINTER STREET

WALTHAM, MASSACHUSETTS

 

Lease Dated December 9th, 2014

(“Execution Date”)

 

THIS INSTRUMENT IS AN INDENTURE OF LEASE in which the Landlord and the Tenant are the parties hereinafter named, and which relates to space in a certain building (the “Building”) known as, and with an address at, 1100 Winter Street, Waltham, Massachusetts 02451.

 

The parties to this Indenture of Lease hereby agree with each other as follows:

 

ARTICLE I
 REFERENCE DATA

 

1.1                               Subjects Referred To.

 

Each reference in this Lease to any of the following subjects shall be construed to incorporate the data stated for that subject in this Article:

 

	
Landlord:
    	
 
    	
BP BAY COLONY LLC,
   a Delaware limited liability company
    
	
 
    	
 
    	
 
    
	
Landlord’s   Original Address:
    	
 
    	
c/o Boston Properties Limited Partnership
   Prudential Center
   800 Boylston Street, Suite 1900
   Boston, Massachusetts 02199-8103
    
	
 
    	
 
    	
 
    
	
Landlord’s   Construction Representative:
    	
 
    	
Ben Myers
    
	
 
    	
 
    	
 
    
	
Tenant:
    	
 
    	
Bit9, Inc.,
   a Delaware corporation
    
	
 
    	
 
    	
 
    
	
Tenant’s   Original Address:
    	
 
    	
266 Second Avenue, 2nd Floor
   Waltham, Massachusetts 02451
    
	
 
    	
 
    	
 
    
	
Tenant’s Email Address for Information
   Regarding Billings and Statements:
    	
 
    	
ap@bit9.com
    
	
 
    	
 
    	
 
    
	
Tenant’s   Construction Representative:
    	
 
    	
Dawn Borden
    
	
 
    	
 
    	
 
    
	
Delivery Date:
    	
 
    	
The date Landlord delivers the Premises to Tenant   broom clean and free of tenants or other occupants. The estimated Delivery   Date is the Execution Date.
    
	
 
    	
 
    	
 
    
	
Commencement   Date:
    	
 
    	
The earlier of: (x) the date Tenant opens for   business for
    

 

 

	
 
    	
 
    	
the Permitted Use in the whole or any part of the   Premises, or (y) six (6) months after the Delivery Date.
    
	
 
    	
 
    	
 
    
	
Pre-Term   Build-Out Period:
    	
 
    	
The period commencing as of the Delivery Date and   expiring as of the day immediately preceding the Commencement Date.
    
	
 
    	
 
    	
 
    
	
Term:
    	
 
    	
Eighty-four (84) calendar months (plus the partial   month, if any) immediately following the Commencement Date) (sometimes called   the “Original Term”), unless extended or sooner terminated as provided   in this Lease.
    
	
 
    	
 
    	
 
    
	
Extension   Option:
    	
 
    	
One (1) period of five (5) years as   provided in and on the terms set forth in Section 9.24 hereof.
    
	
 
    	
 
    	
 
    
	
The Site:
    	
 
    	
That certain parcel of land known as and numbered   1100 Winter Street, Waltham, Middlesex County, Massachusetts.
    
	
 
    	
 
    	
 
    
	
The Building:
    	
 
    	
The Building known as and numbered 1100 Winter   Street, Waltham, Massachusetts.
    
	
 
    	
 
    	
 
    
	
The Property:
    	
 
    	
The Building together with all common areas, parking   areas, decks and structures and the Site.
    
	
 
    	
 
    	
 
    
	
Office Park:
    	
 
    	
That certain office park known as Bay Colony   Corporate Center, containing the Building and the additional buildings known   as and numbered 950, 1000 and 1050 Winter Street, Waltham, Massachusetts,   located on the property more particularly described in Exhibit A   attached hereto.
    
	
 
    	
 
    	
 
    
	
Tenant’s   Premises:
    	
 
    	
The entire fourth (4th) floor on the South Wing of   the Building, consisting of 41,989 rentable square feet (“Fourth Floor   Premises”) and a portion of the third (3rd) floor of the North Wing of   the Building, consisting of 19,501 rentable square feet (“Third Floor   Premises”), each as further depicted on the floor plans annexed hereto as   Exhibit D, Sheets 1 and 2, incorporated herein by reference.
    
	
 
    	
 
    	
 
    
	
Number of   Parking Spaces:
    	
 
    	
3.0 spaces per 1,000 square feet of the Rentable   Floor Area of the Premises within the parking area serving the Building shown   on Exhibit G. Initially, there shall be one hundred eighty four   (184) parking spaces available for Tenant’s use.
    

 

2

 

	
Annual Fixed   Rent:
    	
 
    	
(a) During the Original Term at the rates set   forth in the table below.

 

(b) During the extension option period (if   exercised), as determined pursuant to Section 9.24.
    

 

	
Months
    	
 
    	
Annual Fixed Rent
    	
 
    	
Monthly Payment
    	
 
    	
PSF
    
	
Months 1-9:
    	
 
    	
$
    	
 1,574,587.50
    	
*
    	
$
    	
131,215.62
    	
 
    	
$
    	
37.50
    
	
Months 10-84:
    	
 
    	
$
    	
 2,305,875.00
    	
**
    	
$
    	
192,156.25
    	
 
    	
$
    	
37.50
    

 

*During Months 1-9, Tenant shall pay Annual Fixed Rent based on the 41,989 rentable square feet comprising the Fourth Floor Premises only and Tenant shall not be responsible for the payment of any fixed Rent attributable to the Third Floor Premises during such period (provided, however, that Tenant shall also pay rent for any Expansion Premises if Tenant duly exercises any of its rights under the provisions of Sections 9.25, 9.26 or 9.27 hereof, and if, pursuant to such provisions, rent for the Expansion Premises becomes due and payable during such time).  During Months 1-9, however, Tenant shall pay electricity based on 61,490 rentable square feet (provided, however, that Tenant shall also pay for electricity for any Expansion Premises if Tenant duly exercises any of its rights under the provisions of Sections 9.25, 9.26 or 9.27 hereof, and if, pursuant to such provisions, such payments for the Expansion Premises become due and payable during such time).

 

**During Months 10-84, Tenant shall pay Annual Fixed Rent for the Premises based on 61,490 rentable square feet (provided, however, that Tenant shall also pay rent for any Expansion Premises if Tenant duly exercises any of its rights under the provisions of Sections 9.25, 9.26 or 9.27 hereof, and if, pursuant to such provisions, rent for the Expansion Premises becomes due and payable during such time).

 

	
Base Operating Expenses:
    	
 
    	
Landlord’s Operating Expenses (as hereinafter   defined in Section 2.6) for calendar year 2015 (“Base Operating Year”),   being January 1, 2015 through December 31, 2015.
    
	
 
    	
 
    	
 
    
	
Base Taxes:
    	
 
    	
Landlord’s Tax Expenses (as hereinafter defined in   Section 2.7) for fiscal tax year 2016, being July 1, 2015 through   June 30, 2016.
    
	
 
    	
 
    	
 
    
	
Tenant Electricity:
    	
 
    	
As provided in Section 2.8 and Exhibit H.
    
	
 
    	
 
    	
 
    
	
Additional Rent:
    	
 
    	
All charges and other sums payable by Tenant as set   forth in this Lease other than Annual Fixed Rent.
    
	
 
    	
 
    	
 
    
	
Rentable Floor Area of the Premises:
    	
 
    	
61,490 square feet.
    
	
 
    	
 
    	
 
    
	
Total Rentable Floor Area of the Building:
    	
 
    	
281,380 square feet.
    

 

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Permitted Use:
    	
 
    	
General office purposes and any ancillary uses   related thereto.
    
	
 
    	
 
    	
 
    
	
Broker:
    	
 
    	
Tenant’s Broker: Cushman & Wakefield of   Massachusetts, Inc.
    
	
 
    	
 
    	
 
    
	
Security Deposit:
    	
 
    	
$1,152,937.50, subject to reduction in accordance   with Section 9.29 hereof
    
	
 
    	
 
    	
 
    
	
Guarantor:
    	
 
    	
None
    

 

1.2        Exhibits.

 

There are incorporated as part of this Lease:

 

	
Exhibit A
    	
—
    	
Description of Office Park
    
	
 
    	
 
    	
 
    
	
Exhibit B-1
    	
—
    	
Work Agreement
    
	
 
    	
 
    	
 
    
	
Exhibit B-2
    	
—
    	
Tenant Plan and Working Drawing Requirements
    
	
 
    	
 
    	
 
    
	
Exhibit B-3
    	
—
    	
Approved Contractors for Tenant’s Work
    
	
 
    	
 
    	
 
    
	
Exhibit C
    	
—
    	
Landlord’s Services
    
	
 
    	
 
    	
 
    
	
Exhibit D
    	
—
    	
Sheet 1, Floor Plan of Fourth Floor Premises and   Sheet 2, Floor Plan of Third Floor Premises
    
	
 
    	
 
    	
 
    
	
Exhibit E
    	
—
    	
Declaration Affixing the Commencement Date of Lease
    
	
 
    	
 
    	
 
    
	
Exhibit F
    	
—
    	
Form of Lien Waivers
    
	
 
    	
 
    	
 
    
	
Exhibit G
    	
—
    	
Plan of Parking Area
    
	
 
    	
 
    	
 
    
	
Exhibit H
    	
—
    	
Memorandum Re: Procedure for Allocation of   Electricity Costs
    
	
 
    	
 
    	
 
    
	
Exhibit I
    	
—
    	
Form of Certificate of Insurance
    
	
 
    	
 
    	
 
    
	
Exhibit J
    	
—
    	
List of Mortgages
    
	
 
    	
 
    	
 
    
	
Exhibit K
    	
—
    	
Broker Determination
    
	
 
    	
 
    	
 
    
	
Exhibit L
    	
—
    	
Floor Plan of First Expansion Space, Second   Expansion Space and Third Expansion Space
    
	
 
    	
 
    	
 
    
	
Exhibit M
    	
—
    	
Form of Letter of Credit
    

 

4

 

	
1.3
    	
Table of Articles and Sections.
    	
 
    	
 
    

 

	
Article I   Reference Data
    	
1
    
	
1.1
    	
Subjects Referred To
    	
1
    
	
1.2
    	
Exhibits
    	
4
    
	
1.3
    	
Table of Articles and   Sections
    	
5
    
	
Article II   Building, Premises, Term and Rent
    	
7
    
	
2.1
    	
The Premises
    	
7
    
	
2.2
    	
Rights to Use Common   Facilities
    	
7
    
	
2.3
    	
Landlord’s Reservations
    	
9
    
	
2.4
    	
Habendum
    	
9
    
	
2.5
    	
Fixed Rent Payments
    	
9
    
	
2.6
    	
Operating Expenses
    	
10
    
	
2.7
    	
Real Estate Taxes
    	
18
    
	
2.8
    	
Tenant Electricity
    	
20
    
	
Article III   Condition of Premises; Alterations
    	
20
    
	
3.1
    	
Preparation of Premises
    	
20
    
	
Article IV   Landlord’s Covenants; Interruptions and Delays
    	
20
    
	
4.1
    	
Landlord Covenants
    	
20
    
	
4.2
    	
Interruptions and   Delays in Services and Repairs, Etc.
    	
22
    
	
4.3
    	
Access
    	
23
    
	
4.4
    	
Security Access System
    	
23
    
	
4.5
    	
Hazardous Materials
    	
23
    
	
4.6
    	
Code Compliance
    	
24
    
	
Article V   Tenant’s Covenants
    	
24
    
	
5.1
    	
Payments
    	
24
    
	
5.2
    	
Repair and Yield Up
    	
24
    
	
5.3
    	
Use
    	
25
    
	
5.4
    	
Obstructions; Items   Visible From Exterior; Rules and Regulations
    	
25
    
	
5.5
    	
Safety Appliances
    	
26
    
	
5.6
    	
Assignment; Sublease
    	
26
    
	
5.7
    	
Right of Entry
    	
31
    
	
5.8
    	
Floor Load; Prevention   of Vibration and Noise
    	
32
    
	
5.9
    	
Personal Property Taxes
    	
32
    
	
5.10
    	
Compliance with Laws
    	
32
    
	
5.11
    	
Payment of Litigation   Expenses
    	
33
    
	
5.12
    	
Alterations
    	
33
    
	
5.13
    	
Vendors
    	
36
    
	
5.14
    	
OFAC
    	
36
    
	
Article VI   Casualty and Taking
    	
36
    
	
6.1
    	
Damage Resulting from   Casualty
    	
36
    
	
6.2
    	
Uninsured Casualty
    	
39
    
	
6.3
    	
Rights of Termination   for Taking
    	
39
    
	
6.4
    	
Award
    	
40
    
	
Article VII   Default
    	
41
    
	
7.1
    	
Tenant’s Default
    	
41
    
	
7.2
    	
Landlord’s Default
    	
44
    

 

5

 

	
Article VIII   Insurance and Indemnity
    	
45
    
	
8.1
    	
Indemnity
    	
45
    
	
8.2
    	
Tenant’s Risk
    	
46
    
	
8.3
    	
Tenant’s Commercial   General Liability Insurance
    	
47
    
	
8.4
    	
Tenant’s Property   Insurance
    	
47
    
	
8.5
    	
Tenant’s Other   Insurance
    	
48
    
	
8.6
    	
Requirements for   Tenant’s Insurance
    	
48
    
	
8.7
    	
Additional Insureds
    	
49
    
	
8.8
    	
Certificates of   Insurance
    	
49
    
	
8.9
    	
Subtenants and Other   Occupants
    	
50
    
	
8.10
    	
No Violation of   Building Policies
    	
50
    
	
8.11
    	
Tenant to Pay Premium   Increases
    	
50
    
	
8.12
    	
Landlord’s Insurance   and Indemnity
    	
50
    
	
8.13
    	
Waiver of Subrogation
    	
52
    
	
8.14
    	
Tenant’s Work
    	
52
    
	
Article IX   Miscellaneous Provisions
    	
53
    
	
9.1
    	
Waiver
    	
53
    
	
9.2
    	
Cumulative Remedies
    	
53
    
	
9.3
    	
Quiet Enjoyment
    	
53
    
	
9.4
    	
Notice to Mortgagee and   Ground Lessor
    	
55
    
	
9.5
    	
Assignment of Rents
    	
55
    
	
9.6
    	
Surrender
    	
56
    
	
9.7
    	
Brokerage
    	
56
    
	
9.8
    	
Invalidity of   Particular Provisions
    	
56
    
	
9.9
    	
Provisions Binding, Etc.
    	
56
    
	
9.10
    	
Recording;   Confidentiality
    	
57
    
	
9.11
    	
Notices
    	
57
    
	
9.12
    	
When Lease Becomes   Binding and Authority
    	
58
    
	
9.13
    	
Section Headings
    	
58
    
	
9.14
    	
Rights of Mortgagee
    	
58
    
	
9.15
    	
Status Reports and   Financial Statements
    	
59
    
	
9.16
    	
Self-Help
    	
60
    
	
9.17
    	
Holding Over
    	
60
    
	
9.18
    	
Late Payment
    	
61
    
	
9.19
    	
Tenant’s Payments
    	
61
    
	
9.20
    	
Waiver of Trial By Jury
    	
62
    
	
9.21
    	
Governing Law
    	
62
    
	
9.22
    	
Light and Air
    	
62
    
	
9.23
    	
Name of Building
    	
62
    
	
9.24
    	
Extension Option
    	
62
    
	
9.25
    	
Right of First Refusal   for First Expansion Space
    	
64
    
	
9.26
    	
Rights of First Refusal   and First Offer for Second Expansion Space
    	
66
    
	
9.27
    	
Rights of First Refusal   and First Offer for Third Expansion Space
    	
69
    
	
9.28
    	
Certain Expansion Space   Lease Terms
    	
71
    
	
9.29
    	
Security Deposit
    	
74
    
	
9.30
    	
Cafeteria
    	
77
    

 

6

 

	
9.31
    	
Electronic Signatures
    	
77
    

 

ARTICLE II
 BUILDING, PREMISES, TERM AND RENT

 

2.1                               The Premises.

 

Landlord hereby demises and leases to Tenant, and Tenant hereby leases from Landlord, Tenant’s Premises in the Building excluding exterior faces and all portions of exterior walls beyond the interior sheetrock, the common stairways and stairwells, elevators and elevator wells, fan rooms, electric and telephone closets, janitor closets, freight elevator vestibules, and pipes, ducts, conduits, wires and appurtenant fixtures serving exclusively or in common other parts of the Building and if Tenant’s Premises includes less than the entire rentable area of any floor, excluding the common corridors, elevator lobbies and toilets located on such floor. Tenant’s Premises with such exclusions is hereinafter referred to as the “Premises.”

 

2.2                               Rights to Use Common Facilities.

 

Subject to Landlord’s right to change or alter any of the following in Landlord’s reasonable discretion as herein provided, Tenant shall have, as appurtenant to the Premises, the non- exclusive right to use in common with others, subject to reasonable rules of general applicability to tenants of the Building from time to time made by Landlord of which Tenant is given prior written notice (a) the common lobbies, corridors, stairways, elevators and loading platform of the Building, and the pipes, ducts, conduits, wires and appurtenant meters and equipment serving the Premises in common with others, (b) common walkways, parking areas and driveways necessary for access to the Building, and (c) if the Premises include less than the entire rentable area of any floor, the common toilets, corridors and elevator lobby of such floor. Notwithstanding anything to the contrary herein, except as hereinafter set forth: (i) Landlord has no obligation to allow any particular telecommunication service provider to have access to the Building or to the Premises except as may be required by applicable law, and (ii) if Landlord permits such access, Landlord may condition such access upon the payment to Landlord by the service provider of fees assessed by Landlord in its reasonable discretion.  Landlord hereby consents to the current telecommunications providers for the Building, i.e., Verizon and Comcast, to act as Tenant’s telecommunications provider.

 

2.2.1                     Tenant’s Parking.

 

In addition, Tenant shall have the right to use in the parking area, at no additional charge (except that the costs of maintaining and insuring the parking area will be included in Landlord’s Operating Expenses and real estate taxes and other taxes relating to the parking area which area included within the definition of Landlord’s Tax Expenses shall be included in Landlord’s Tax Expenses), the Number of Parking Spaces (referred to in Section 1.1) for the parking of automobiles, in common with use by other tenants from time to time of the Property, provided, however, that, except as otherwise specifically herein set forth, Landlord shall not be obligated to furnish stalls or spaces on the Site specifically designated for Tenant’s use.  In the event that the Rentable Floor Area of the Premises increases or decreases at any time during the Lease Term,

 

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the Number of Parking Spaces provided to Tenant hereunder shall be increased or reduced proportionately. Tenant covenants and agrees that it and all persons claiming by, through and under it, shall at all times abide by all reasonable written rules and regulations promulgated by Landlord of which Tenant has notice with respect to the use of the parking areas on the Property. The parking privileges granted herein are non-transferable except to a permitted assignee or subtenant as provided in Section 5.6. Further, except (subject to Section 8.13) for matters arising from the negligent or wrongful act or omission of Landlord or its agents, employees or contractors, Landlord assumes no responsibility whatsoever for loss or damage due to fire, theft or otherwise to any automobile(s) parked on the Property or to any personal property therein, however caused, and Tenant covenants and agrees, upon request from Landlord from time to time, to notify its officers, employees, agents and invitees of such limitation of liability. Tenant acknowledges and agrees that a license only is hereby granted, and no bailment is intended or shall be created.

 

2.2.2                     Rooftop Installations.

 

Notwithstanding anything contained in this Lease to the contrary, Tenant shall be permitted to install one (1) antenna and other telecommunications equipment on the rooftop of the Building and to run a cable from the roof of the Building to the Premises through a common conduit (no wires being permitted to be run across the roof) (collectively, “Telecom Equipment”) only:  (i) with Landlord’s prior written consent (which consent shall not be unreasonably withheld, conditioned or delayed), (ii) if Tenant has obtained all necessary permits and approvals required therefor, (iii) for the purpose of Tenant’s conduct of the Permitted Use within the Premises, (iv) if such installation and the operation thereof does not cause any measurable and material interference with any existing communication equipment on the Building, (v) if such installation does not materially adversely affect the structural elements of the Building as determined by Landlord in its reasonable discretion and (vi) if such installation does not materially adversely affect the visual aesthetic of the Building as determined by Landlord in its sole but good faith discretion. In addition, Landlord shall have the option upon written notice to Tenant to relocate the Telecom Equipment to other areas on the rooftop of the Building at Landlord’s sole cost and expense and so long as such relocation does not materially adversely affect Tenant’s use of the Premises or the operation of Telecom Equipment.  Upon the expiration or earlier termination of the Lease Term, at Landlord’s written request which must be given at the time Landlord consents to the installation of such Telecom Equipment, Tenant shall remove the Telecom Equipment and repair any damage to the roof caused by any such installation or removal.  The indemnification provisions of Article VIII of this Lease shall be deemed to include any claims, liabilities, damages and expenses, including reasonable attorney’s fees, relating to, or claimed to relate to, the installation, maintenance, operation or use of the Telecom Equipment installed by or for Tenant.  Tenant shall have no right to license, sublease, assign or otherwise transfer its rights to install and use Telecom Equipment on the Building and/or the Site (other than to an assignee or subtenant permitted under Section 5.6.1 below). Landlord hereby reserves the right (at its sole discretion) to install and to permit others to install, use and maintain telecommunications equipment, antennas and similar installations on the rooftop of the Building and elsewhere on the Site provided that such other installations do not materially interfere with Tenant’s use and operation of Tenant’s Telecom Equipment.

 

8

 

2.3                               Landlord’s Reservations.

 

Landlord reserves the right from time to time, without unreasonable interference with Tenant’s use and occupancy of or access to the Premises: (a) to install, use, maintain, repair, replace and relocate for service to the Premises and other parts of the Building, or either, pipes, ducts, conduits, wires and appurtenant fixtures, wherever located in the Premises or Building, (b) to perform, or cause to be performed, construction in the common areas and facilities or other leased areas on the Property or in the Office Park and (c) to reduce, increase, enclose or otherwise change at any time and from time to time the size, number, location, lay-out and nature of the common areas and facilities and other tenancies and premises on the Property or in the Office Park, to create additional rentable areas through use or enclosure of common areas, and to dedicate roads within the Office Park for public use. Installations, replacements and relocations referred to in clause (a) above shall be located so far as practicable in the central core area of the Building, above ceiling surfaces, below floor surfaces or within perimeter walls of the Premises and Landlord shall repair any damage caused thereby.  Any installations, replacements and relocations not so relocated will be boxed and decorated in a manner which is consistent with the adjacent areas.

 

2.4                               Habendum.

 

2.4.1                     Pre-Term Build-Out Period.

 

The parties hereby agree that, during the Pre-Term Build-Out Period, Tenant shall have the right of access to the Premises for the purposes of performing Tenant’s Work.  All of the terms and conditions of the Lease shall be applicable during the Pre-Term Build-Out Period, except that: (i) Tenant shall have no obligation to pay any Annual Fixed Rent, Operating Expenses Allocable to the Premises, or Landlord’s Tax Allocable to the Premises with respect to the Pre-Term Build-Out Period, and (ii) Tenant shall have no right to extend the term of the Pre-Term Build-Out Period (i.e., Section 9.24 of the Lease shall have no applicability to the Pre-Term Build-Out Period).

 

2.4.2                     Term.

 

Tenant shall have and hold the Premises for a period commencing on the Commencement Date and continuing for the Term unless sooner terminated as provided in Article VI or Article VII or unless extended as provided in Section 9.24.

 

As soon as may be convenient after the Commencement Date has been determined, Landlord and Tenant agree to join with each other in the execution of a written Declaration Affixing the Commencement Date of Lease, in the form of Exhibit E, in which the Commencement Date and the Term of this Lease shall be stated. If Tenant fails to execute such Declaration Affixing the Commencement Date of Lease, the Commencement Date and Lease Term shall be as reasonably determined by Landlord in accordance with the terms of this Lease.

 

2.5                               Fixed Rent Payments.

 

Tenant agrees to pay to Landlord, (1) (a) on the Commencement Date (defined in Section 1.1 hereof) and thereafter monthly, in advance, on the first day of each and every calendar month

 

9

 

during the Original Term, a sum equal to one twelfth (1/12th) of the Annual Fixed Rent (sometimes hereinafter referred to as “fixed rent”) and (b) on the Commencement Date and thereafter monthly, in advance, on the first day of each and every calendar month during the Original Term, an amount reasonably estimated by Landlord from time to time to cover Tenant’s monthly payments for electricity under Section 2.8 and (2) on the first day of each and every calendar month during each extension option period (if exercised), a sum equal to (a) one twelfth (1/12th) of the Annual Fixed Rent as determined in Section 9.24 for the extension option period plus (b) then applicable monthly electricity charges under Section 2.8.  Until notice of some other designation is given, fixed rent and all other charges for which provision is herein made shall be paid by remittance to or for the order of Landlord either (i) by mail to P.O. Box 3557, Boston, Massachusetts 02241-3557, (ii) by wire transfer to Bank of America in Dallas, Texas, Bank Routing Number 0260-0959-3 or (iii) by ACH transfer to Bank of America in Dallas, Texas, Bank Routing Number 111 000 012, and in the case of (ii) or (iii) referencing Account Number 3756454460, Account Name of Boston Properties, LP, Tenant’s name and the Property address. All remittances received by Boston Properties Limited Partnership as aforesaid, or by any subsequently designated recipient, shall be treated as payment to Landlord.

 

Annual Fixed Rent for any partial month shall be paid by Tenant to Landlord at such rate then in effect on a pro rata basis, and, if the Commencement Date is a day other than the first day of a calendar month, the first payment of Annual Fixed Rent which Tenant shall make to Landlord shall be a payment equal to a proportionate part of such monthly Annual Fixed Rent for the partial month from the Commencement Date to the first day of the succeeding calendar month.

 

Additional Rent payable by Tenant on a monthly basis, as hereinafter provided, likewise shall be prorated, and the first payment on account thereof shall be determined in similar fashion but shall commence on the Commencement Date (excluding Additional Rent under Section 2.6, which shall commence January 1, 2016, and Section 2.7, which shall commence July 1, 2016); and other provisions of this Lease calling for monthly payments shall be read as incorporating this undertaking by Tenant.

 

Notwithstanding that the payment of Annual Fixed Rent payable by Tenant to Landlord shall not commence until the Commencement Date, Tenant shall be subject to, and shall comply with, all other provisions of this Lease as and at the times provided in this Lease.

 

The Annual Fixed Rent and all other charges for which provision is herein made shall be paid by Tenant to Landlord, without offset, deduction or abatement except as otherwise specifically set forth in this Lease.

 

2.6                               Operating Expenses.

 

“Landlord’s Operating Expenses” means the actual cost of operation of the Building and the Site (including, without limitation, costs associated with the operation of other portions of the Office Park, to the extent allocable to the Property), which shall exclude costs of special services rendered to tenants (including Tenant) for which a separate charge is made, but shall include, without limitation, the following (subject to the exclusions hereinafter set forth in this Section 2.6): premiums for insurance carried with respect to the Building and the Site (including, without

 

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limitation, liability insurance, insurance against loss in case of fire or casualty and insurance of monthly installments of fixed rent and any Additional Rent which may be due under this Lease and other leases of space in the Building for not more than twelve (12) months in the case of both fixed rent and Additional Rent and if there be any first mortgage of the Property, including such insurance as may be required by the holder of such first mortgage); compensation and all fringe benefits, worker’s compensation insurance premiums and payroll taxes paid to, for or with respect to all persons engaged in the operating, maintaining or cleaning of the Building or Site; water, sewer, electric, gas, oil and telephone charges associated with the common areas of the Building and the Site (excluding utility charges separately chargeable to tenants); cost of building and cleaning supplies and equipment; cost of maintenance, cleaning and repairs (other than repairs not properly chargeable against income or reimbursed from contractors under guarantees); cost of snow removal and care of landscaping; cost of operating, maintaining and cleaning the cafeteria, fitness center and any shared conference facilities serving the Building; all costs of applying and reporting for the Building or any part thereof to seek or maintain certification under the U.S. EPA’s Energy Star® rating system, the U.S. Green Building Council’s Leadership in Energy and Environmental Design (LEED) rating system or a similar system or standard; payments under service contracts with independent contractors; management fees (“Management Fees”) at reasonable rates for self managed buildings consistent with the type of occupancy and the service rendered which in no event shall exceed three percent (3%) of “Gross Rents for the Building” as hereinafter defined; costs of maintaining a regional property management office in connection with the operation, management and maintenance of the Building (prorated for all properties served by such office); Landlord’s contribution with respect to the Building to the cost of transportation between the Building and the Alewife train station as part of the 128 Business Council Shuttle program; and all other reasonable and necessary expenses paid in connection with the operation, cleaning and maintenance of the Building and the Site and properly chargeable against income. As used herein, the term “Gross Rents for the Building” shall mean all annual fixed rent and (a) Landlord’s Operating Expenses for the Building collected from tenants or other occupants other than as part of annual fixed rent, with the exception of the aforesaid management fees, (b) Landlord’s Tax Expenses for the Building for the relevant calendar year, and (c) Tenant Electricity.  Landlord’s Operating Expenses shall include depreciation for capital expenditures made by Landlord during the Lease Term (i) to reduce Landlord’s Operating Expenses if Landlord shall have reasonably determined that the annual reduction in Landlord’s Operating Expenses shall exceed depreciation therefor or (ii) to comply with applicable laws, rules, regulations, requirements, statutes, ordinances, by-laws and court decisions of all public authorities enacted after the date of this Lease (the capital expenditures described in subsections (i) and (ii) being hereinafter referred to as “Permitted Capital Expenditures”), plus in the case of both (i) and (ii) an interest factor, reasonably determined by Landlord, as being the interest rate then charged for long term mortgages by institutional lenders on like properties within the locality in which the Building is located, and depreciation in the case of both (i) and (ii) shall be determined by dividing the original cost of such capital expenditure by the number of years of useful life of the capital item acquired and the useful life shall be reasonably determined by Landlord in accordance with generally accepted accounting principles and practices in effect at the time of acquisition of the capital item; provided, however, if Landlord reasonably concludes on the basis of engineering estimates that a particular capital expenditure will effect savings in other Landlord’s Operating Expenses, including, without limitation, energy related costs, and that such projected savings will, on an

 

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annual basis (“Projected Annual Savings”), exceed the annual depreciation therefor, then and in such event the amount of depreciation for such capital expenditure shall be increased to an amount equal to the Projected Annual Savings; and in such circumstance, the increased depreciation (in the amount of the Projected Annual Savings) shall be made for such period of time as it would take to fully amortize the cost of the item in question, together with interest thereon at the interest rate as aforesaid in equal monthly payments, each in the amount of 1/12th of the Projected Annual Savings, with such payment to be applied first to interest and the balance to principal.

 

Notwithstanding the foregoing provisions, the following shall be excluded from Landlord’s Operating Expenses:

 

(a)                                 All capital expenditures and depreciation and interest and amortization thereon, except Permitted Capital Expenditures first incurred by Landlord on or after the Commencement Date;

 

(b)                                 Lease payments for rental equipment that would constitute a capital expenditure if such equipment were purchased to the extent that such lease payments exceed the amount which otherwise would have been includible in Landlord’s Operating Expenses had such equipment been purchased instead of leased;

 

(c)                                  Interest on indebtedness, debt amortization, fixed and percentage ground rent, and refinancing costs (including points, fees, interest and principal) for any mortgage or ground lease of the Building, and amortization of debts and costs of providing the same, provided that the foregoing shall not affect the inclusion of costs on account of Permitted Capital Expenditures in accordance with the provisions of this Section 2.6;

 

(d)                                 Legal, auditing, consulting, architectural, engineering and professional fees and other costs (other than those legal, auditing, consulting and professional fees and other costs incurred in connection with the normal and routine maintenance and operation of the Office Park), including, without limitation, those: (i) paid or incurred in connection with financings, refinancings or sales of any Landlord’s interest in the Office/Park), (ii) relating to any special reporting required by securities laws or (iii) relating to disputes with tenants;

 

(e)                                  Costs and expenses incurred for the administration of the entity which constitutes Landlord or any of its agents or affiliates, as the same are distinguished from the costs of operation, management, maintenance and repair of the Property, including, without limitation, entity accounting and legal matters;

 

(f)                                   Any increase in the cost of Landlord’s insurance caused by a specific use of another tenant;

 

(g)                                  The cost of any item or service to the extent reimbursed or reimbursable to Landlord by insurance required to be maintained under the Lease, by any tenant, or by any third party;

 

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(h)                                 The cost of repairs or replacements incurred by reason of fire or other casualty or condemnation, except to the extent such costs are included in the deductible on any insurance maintained by Landlord which provides a recovery for such repair or replacement;

 

(i)                                     Any advertising, promotional or marketing expenses for the Building;

 

(j)                                    The cost of any service or materials provided by any party related to Landlord (other than the Management Fees), to the extent that such costs exceed the then existing market rate for such services or materials from unrelated entities;

 

(k)                                 Reserves of any kind, including, without limitation, replacement or contingency reserves or any bad debt loss, rent loss or reserves for bad debts or rent loss;

 

(l)                                     Penalties, damages, and interest for late payment or violations of any obligations of Landlord, including, without limitation, taxes, insurance, equipment leases and other past due amounts;

 

(m)                             Contributions to charitable or political organizations;

 

(n)                                 The cost of testing, remediation or removal of “Hazardous Materials” (as defined in Section 5.3) in the Building or on the Site required by “Hazardous Materials Laws” (as defined in Section 5.3) and the cost of defending against claims in regard to the existence or release of Hazardous Materials at the Building or the property, provided however, that with respect to the testing, remediation or removal of any material or substance which, as of the Execution Date was not considered, as a matter of law, to be a Hazardous Material, but which is subsequently determined to be a Hazardous Material as a matter of law, the costs thereof shall be included in Landlord’s Operating Expenses;

 

(o)                                 Wages, salaries, or other compensation (including, without limitation, fringe benefits) paid to any executive or other employees above the grade of Regional Property Manager (the parties hereby agreeing that, so long as the Property is owned by an entity which is affiliated with Boston Properties Limited Partnership, the compensation payable to the Regional Property Manager shall be allocated to the Property based upon the ratio of the rentable area of the Building to the aggregate total of rentable area of the other buildings for which the Regional Property Manager is responsible, from time to time);

 

(p)                                 Leasing fees or commissions, advertising and promotional expenses, legal fees, the cost of tenant improvements, build out allowances, moving expenses, assumption of rent under existing leases and other concessions incurred in connection with leasing or selling space in the Building;

 

(q)                                 Attorneys’ fees, costs and disbursements, damages, penalties and other expenses incurred in connection with negotiations and enforcing leases with tenants in the Building or disputes with tenants, other occupants, or prospective tenants or occupants of the Building;

 

(r)                                    Any fines or penalties incurred due to (i) violations by Landlord of any law or other governmental rule or regulation, (ii) the violation or breach of any lease of space in

 

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the Building by Landlord, (iii) the negligence or willful misconduct of the Landlord or its agents, contractors, or employees, or (iv) any other breach of contract by Landlord;

 

(s)                                   All costs of purchasing or leasing and installing sculptures, paintings or other works or objects of art;

 

(t)                                    Fixed and percentage rental on ground leases or other underlying leases and the costs of providing the same;

 

(u)                                 Cost of any HVAC, janitorial or other services provided to other tenants on an extra cost basis after regular business hours;

 

(v)                                 Cost of any work or service performed on an extra cost basis for any tenant in the Building or the Site to a materially greater extent or in a materially more favorable manner than furnished generally to the tenants and other occupants;

 

(w)                               Landlord’s Tax Expenses or taxes on Landlord’s business (such as income, excess profits, franchise, capital stock, estate, inheritance, etc.);

 

(x)                                 Costs of repairs, restoration or replacements incurred by reason of Casualty or Taking, except to the extent that such costs are included within the deductible carried by Landlord under its property insurance policy pursuant to Section 8.12;

 

(y)                                 Costs of mitigation or impact fees or subsidies (however characterized), imposed or incurred solely as a result of another tenant’s or tenants’ use of the Site or their respective premises;

 

(z)                                  Costs of repairs, replacements, alterations or improvements necessary to make the Building comply with applicable law in effect as of the date of this Lease;

 

(aa)                          All costs and expenses of any special events (e.g., receptions or concerts) not serving the Building in general; provided, however, that Tenant shall pay the entire costs and expenses of any special events run by Tenant.

 

To the extent that Landlord owns other buildings in the Office Park, Landlord’s Operating Expenses that relate to the common areas of the Office Park (and not exclusively to the Building or exclusively to any other buildings within the Office Park) shall be reasonably allocated by Landlord among all such buildings in the Office Park.

 

“Operating Expenses Allocable to the Premises” shall mean the same proportion of Landlord’s Operating Expenses for and pertaining to the Building and the Site as the Rentable Floor Area of the Premises bears to 95% of the Total Rentable Floor Area of the Building.

 

“Base Operating Expenses” is hereinbefore defined in Section 1.1. and Base Operating Expenses shall not include (i) temporary market-wide cost increases due to extraordinary circumstances, including but not limited to Force Majeure (as defined in Section 6.1.7), conservation surcharges, security concerns, boycotts, strikes, embargoes or shortages and (ii) the

 

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costs of any Permitted Capital Expenditures other than Permitted Capital Expenditures which are incurred by Landlord and allocated in the Base Operating Year.

 

“Base Operating Expenses Allocable to the Premises” means the same proportion of Base Operating Expenses for and pertaining to the Building and the Site as the Rentable Floor Area of the Premises bears to 95% of the Total Rentable Floor Area of the Building.

 

If with respect to any calendar year falling within the Term, or fraction of a calendar year falling within the Term at the beginning or end thereof, the Operating Expenses Allocable to the Premises for a full calendar year exceed Base Operating Expenses Allocable to the Premises, or for any such fraction of a calendar year exceed the corresponding fraction of Base Operating Expenses Allocable to the Premises, then Tenant shall pay to Landlord, as Additional Rent, the amount of such excess. Such payments shall be made at the times and in the manner hereinafter provided in this Section 2.6.

 

Not later than one hundred and twenty (120) days after the end of the first calendar year or fraction thereof ending December 31 and of each succeeding calendar year during the Term or fraction thereof at the end of the Term, Landlord shall render Tenant a statement in reasonable detail and according to usual accounting practices certified by a representative of Landlord, showing for the preceding calendar year or fraction thereof, as the case may be, Landlord’s Operating Expenses and Operating Expenses Allocable to the Premises (the “Annual Statement”).  The Annual Statement to be rendered to Tenant shall also show for the preceding year or fraction thereof as the case may be the amounts of operating expenses already paid by Tenant as Additional Rent, and the amount of operating expenses remaining due from, or overpaid by, Tenant for the year or other period covered by such statement. Within thirty (30) days after the date of delivery of such statement, Tenant shall pay to Landlord the balance of the amounts, if any, required to be paid pursuant to the above provisions of this Section 2.6 with respect to the preceding year or fraction thereof, or Landlord shall credit any amounts due from it to Tenant pursuant to the above provisions of this Section 2.6 against (i) monthly installments of fixed rent next thereafter coming due or (ii) any sums then due from Tenant to Landlord under this Lease (or refund such portion of the overpayment as aforesaid if the Term has ended, net of any amounts then due from Tenant to Landlord).

 

In addition, Tenant shall make payments monthly on account of Tenant’s share of increases in Landlord’s Operating Expenses anticipated for the then current year at the time and in the fashion herein provided for the payment of fixed rent. The amount to be paid to Landlord shall be an amount reasonably estimated annually by Landlord to be sufficient to cover, in the aggregate, a sum equal to Tenant’s share of such increases in operating expenses for each calendar year during the Term.

 

Notwithstanding the foregoing, in determining the amount of Landlord’s Operating Expenses for any calendar year or portion thereof falling within the Lease Term (including the Base Operating Year), if less than ninety-five percent (95%) of the Total Rentable Floor Area of the Building shall have been occupied by tenants at any time during the period in question, then those components of Landlord’s Operating Expenses that vary based on occupancy for such period shall be reasonably and equitably adjusted to equal the amount such components of

 

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Landlord’s Operating Expenses would have been for such period had occupancy been ninety-five percent (95%) of the Total Rentable Area of the Building throughout such period.

 

Notwithstanding the foregoing, for purposes of computing Tenant’s share of increases in Landlord’s Operating Expenses, the Controllable Operating Expenses (hereinafter defined) shall not increase by more than 5% per calendar year on a compounding and cumulative basis over the course of the Term.  In other words, Controllable Operating Expenses for the first calendar year after the Base Operating Year shall not exceed 105% of the Controllable Operating Expenses for the Base Operating Year.  Controllable Operating Expenses for the second calendar year after the Base Operating Year shall not exceed 105% of the limit on Controllable Operating Expenses for the first calendar year after the Base Operating Year, etc.  By way of illustration, if Controllable Operating Expenses were $10.00 per rentable square foot for the Base Operating Year, then Controllable Operating Expenses for the first calendar year following the Base Operating Year shall not exceed $10.50 per rentable square foot, and Controllable Operating Expenses for the second calendar year following the Base Operating Year shall not exceed $11.03 per rentable square foot (105% of $10.50).  “Controllable Operating Expenses” shall mean all Landlord’s Operating Expenses, the cost of which are within the reasonable control of Landlord.  “Controllable Operating Expenses” shall exclude, without limitation:  management fees, premiums for insurance, union related labor costs (or the cost of contracts dependent on union related labor costs), snow removal costs, security costs, Permitted Capital Expenditures, costs of water, sewer, electric, gas, oil or steam and other utility or regulatory charges and expenses which are caused by reason of changes in law.  In the event that, with respect to any calendar year during the Term, the amount of Controllable Operating Expenses exceeds 105% of the limit on Controllable Operating Expenses for the preceding calendar year (pro-rated for any fraction of a calendar year), calculated as provided above, then such excess may be added to and included within Controllable Operating Expenses for any subsequent calendar year or fraction thereof during the Term in which 105% of the limit on Controllable Operating Expenses for the preceding calendar year exceeds the amount of Controllable Operating Expenses for such calendar year (pro-rated for any fraction of a calendar year), for as long as and to the extent necessary to allow Landlord to recover Landlord’s Operating Expenses excluded pursuant to the foregoing provisions of this Section 2.6.

 

Notwithstanding anything contained herein to the contrary, Landlord hereby agrees that over the course of the Lease Term it will not collect more than one hundred percent (100%) of Landlord’s Operating Expenses allocable to such time period.

 

2.6.1                     Tenant’s Audit of Operating Expenses.

 

Subject to the provisions of this Section and provided that there exists no monetary or material non-monetary Event of Default (defined in Section 7.1), Tenant shall have the right to examine the correctness of the Landlord’s Operating Expense statement or any item contained therein:

 

1.                                      Any request for examination in respect of any “Operating Year” (as defined hereinbelow) may be made by notice from Tenant to Landlord no more than one hundred eighty (180) days after the date (the “Operating Expense Statement Date”) Landlord provides Tenant an Annual Statement for such Operating Year

 

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                and only if Tenant shall have fully paid such amount.  Such notice shall set forth in reasonable detail the matters questioned unless Tenant is auditing the Base Operating Year in which case no questioned matter need be stated.  Any examination must be completed and the results communicated to Landlord no more than one hundred eighty (180) days after the Landlord delivers to Tenant all books and records required to perform such examination.  “Operating Year” shall mean a period of twelve (12) consecutive calendar months, commencing on the first day of January in each year, except that the first Operating Year of the Lease Term hereof shall be the period commencing on the Commencement Date and ending on the succeeding December 31, and the last Operating Year of the Lease Term hereof shall be the period commencing on January 1 of the calendar year in which the Lease Term ends, and ending with the date on which the Lease Term ends.

 

2.                                      Tenant hereby acknowledges and agrees that Tenant’s sole right to contest Annual Statement shall be as expressly set forth in this Section.  Tenant hereby waives any and all other rights provided pursuant to applicable laws to inspect Landlord’s books and records and/or to contest the Annual Statement.  If Tenant shall fail to timely exercise Tenant’s right to inspect Landlord’s books and records as provided in this Section, or if Tenant shall fail to timely communicate to Landlord the results of Tenant’s examination as provided in this Section, with respect to any Operating Year, Landlord’s Annual Statement shall be conclusive and binding on Tenant.

 

3.                                      So much of Landlord’s books and records pertaining to the amount of the Operating Expenses Allocable to the Premises for the specific matters questioned by Tenant (unless Tenant is auditing the Base Year, in which case Landlord shall make available all books and records pertaining to the amount of Operating Expenses Allocable to the Premises) for the Operating Year included in Landlord’s Annual Statement shall be made available to Tenant within a reasonable time after Landlord timely receives the notice from Tenant to make such examination pursuant to this Section, either electronically or during normal business hours at the offices in Massachusetts where Landlord keeps such books and records or at another location, as determined by Landlord.

 

4.                                      Tenant shall have the right to make such examination no more than once in respect of any Operating Year for which Landlord has given Tenant an Annual Statement.

 

5.                                      Such examination may be made only by a qualified employee of Tenant or a qualified independent certified public accounting firm, or a qualified real estate professional, or a firm approved by Landlord, which approval shall not be unreasonably withheld, conditioned or delayed.  No examination shall be conducted by an examiner who is to be compensated, in whole or in part, on a contingent fee basis.

 

6.                                      As a condition to performing any such examination, Tenant and its examiners shall be required to execute and deliver to Landlord a commercially reasonable form of agreement agreeing to keep confidential any information which it

 

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                                                discovers about Landlord or the Building in connection with such examination except Tenant may disclose such information to auditors, attorneys or other third parties to the extent necessary to resolve any such dispute.

 

7.                                      No subtenant shall have any right to conduct any such examination and no assignee may conduct any such examination with respect to any period during which the assignee was not in possession of the Premises.

 

8.                                      All costs and expenses of any such examination shall be paid by Tenant, except if such examination shows that Landlord has overcharged the Tenant for the amount of Operating Expenses Allocable to the Premises actually payable by Tenant for such Operating Year by more than five percent (5%), Landlord shall reimburse Tenant for the out-of-pocket costs and expenses reasonably and actually incurred by Tenant to perform such examination, up to a maximum of Ten Thousand and 00/100 Dollars ($10,000.00).

 

2.7                               Real Estate Taxes.

 

If with respect to any full Tax Year or fraction of a Tax Year falling within the Term, Landlord’s Tax Expenses Allocable to the Premises as hereinafter defined for a full Tax Year exceed Base Taxes Allocable to the Premises, or for any such fraction of a Tax Year exceed the corresponding fraction of Base Taxes Allocable to the Premises then Tenant shall pay to Landlord, as Additional Rent, the amount of such excess. Such payment shall be made at the times and manner hereinafter provided in this Section 2.7.  Not later than ninety (90) days after Landlord’s Tax Expenses Allocable to the Premises are determined for the first such Tax Year or fraction thereof and for each succeeding Tax Year or fraction thereof during the Term, Landlord shall render Tenant a statement in reasonable detail certified by a representative of Landlord showing for the preceding year or fraction thereof, as the case may be, real estate taxes on the Building and the Site and abatements and refunds of any taxes and assessments. Expenditures for legal fees and for other expenses incurred in seeking the tax refund or abatement may be charged against the tax refund or abatement before the adjustments are made for the Tax Year.  Only Landlord shall have the right to institute tax reduction or other proceedings to reduce real estate taxes or the valuation of the Building and the Site.  Said statement to be rendered to Tenant shall also show for the preceding Tax Year or fraction thereof as the case may be the amounts of real estate taxes already paid by Tenant as Additional Rent, and the amount of real estate taxes remaining due from, or overpaid by, Tenant for the year or other period covered by the statement. Within thirty (30) days after the date of delivery of the foregoing statement, Tenant shall pay to Landlord the balance of the amounts, if any, required to be paid pursuant to the above provisions of this Section 2.7 with respect to the preceding Tax Year or fraction thereof, or Landlord shall credit any amounts due from it to Tenant pursuant to the provisions of this Section 2.7 against (i) monthly installments of fixed rent next thereafter coming due or (ii) any sums then due from Tenant to Landlord under this Lease (or refund such portion of the over-payment as aforesaid if the Term has ended, net of any amounts then due from Tenant to Landlord).

 

Estimated payments by Tenant on account of increases in real estate taxes anticipated for the then current year shall be made monthly at the time and in the fashion herein provided for the payment of fixed rent. The amount so to be paid to Landlord shall be an amount reasonably

 

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estimated by Landlord to be sufficient to provide Landlord, in the aggregate, a sum equal to Tenant’s share of such increases, at least ten (10) days before the day on which such payments by Landlord would become delinquent.

 

To the extent that real estate taxes shall be payable to the taxing authority in installments with respect to periods less than a Tax Year, the foregoing statement shall be rendered and payments made on account of such installments.

 

(a)                                 Terms used herein are defined as follows:

 

(i)                                     “Tax Year” means the twelve-month period beginning July 1 each year during the Term or if the appropriate governmental tax fiscal period shall begin on any date other than July 1, such other date.

 

(ii)                                  “Landlord’s Tax Expenses Allocable to the Premises” shall mean the same proportion of Landlord’s Tax Expenses for and pertaining to the Building and the Site as the Rentable Floor Area of the Premises bears to 100% of the Total Rentable Floor Area of the Building.

 

(iii)                               “Landlord’s Tax Expenses” with respect to any Tax Year means the aggregate real estate taxes on the Building and Site with respect to that Tax Year, reduced by any abatement receipts with respect to that Tax Year.

 

(iv)                              “Base Taxes” is hereinbefore defined in Section 1.1.

 

(v)                                 “Base Taxes Allocable to the Premises” means the same proportion of Base Taxes for and pertaining to the Building and the Site as the Rentable Floor Area of the Premises bears to 100% of the Total Rentable Floor Area of the Building.

 

(vi)                              “Real estate taxes” means all taxes and special assessments of every kind and nature and user fees and other like fees assessed by any governmental authority on the Building or Site which the Landlord shall become obligated to pay because of or in connection with the ownership, leasing and operation of the Site, the Building and the Property and reasonable expenses of and fees for any formal or informal proceedings for negotiation or abatement of taxes (collectively, “Abatement Expenses”), which Abatement Expenses shall be excluded from Base Taxes. The amount of special taxes or special assessments to be included shall be limited to the amount of the installment (plus any interest, other than penalty interest, actually paid thereon) of such special tax or special assessment required to be paid during the year in respect of which such taxes are being determined (calculated as if Landlord had elected to pay such special taxes or assessments over the longest period allowed by law (whether or not Landlord so elects)). There shall be excluded from such taxes all income, estate, succession, inheritance, franchise and transfer taxes and any fees penalties, or interest payable on account of late payment of any real estate taxes; provided, however, that if at any time during the Term the present system of ad valorem taxation of real property shall be changed so that in lieu of the whole or any part of the ad valorem tax on real property there shall be assessed on Landlord a capital levy or other tax on the gross rents received with respect to the Site or Building or Property, federal, state, county, municipal, or other local income, franchise, excise or similar tax, assessment, levy or charge (distinct from any now in effect in the jurisdiction in which the

 

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Property is located) measured by or based, in whole or in part, upon any such gross rents, then any and all of such taxes, assessments, levies or charges, to the extent so measured or based, shall be deemed to be included within the term “real estate taxes” but only to the extent that the same would be payable if the Site and Buildings were the only property of Landlord.

 

(b)                                 If during the Lease Term the Tax Year is changed by applicable law to less than a full 12-month period, the Base Taxes and Base Taxes Allocable to the Premises shall each be proportionately reduced.

 

2.8                               Tenant Electricity.

 

Landlord shall allocate the costs of furnishing electricity for lights and plugs and the distribution components of the heating, ventilating and air conditioning system to Tenant in accordance with the procedure contained in Exhibit H, and Tenant shall pay for such costs as provided in said Exhibit H.

 

ARTICLE III
 CONDITION OF PREMISES; ALTERATIONS

 

3.1                               Preparation of Premises.

 

Landlord shall deliver the Premises to Tenant in vacant, broom clean condition together with any work to be completed by Landlord as set forth on Exhibits B-1, B-2 and B-3, which are attached hereto and made a part hereof, substantially completed.  Landlord represents that the Premises shall be delivered with the base Building systems serving the Premises, including mechanical, electrical, plumbing and HVAC systems, in good working order and condition on the Delivery Date.

 

ARTICLE IV
 LANDLORD’S COVENANTS; INTERRUPTIONS AND DELAYS

 

4.1                               Landlord Covenants.

 

Landlord hereby covenants and agrees:

 

4.1.1                     Services Furnished by Landlord.

 

To furnish services, utilities, facilities and supplies set forth in Exhibit C equal to those customarily provided by landlords in first-class buildings in the Boston West Suburban Market, subject to escalation reimbursement in accordance with Section 2.6 (except as may otherwise be expressly provided in said Exhibit C).

 

4.1.2                     Additional Services Available to Tenant.

 

To furnish, at Tenant’s expense, reasonable additional Building operation services which are usual and customary in similar office buildings in the Boston West Suburban Market upon reasonable advance request of Tenant at reasonable and equitable rates from time to time established by Landlord and provided to Tenant in writing. Tenant agrees to pay to Landlord, as

 

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Additional Rent, the reasonable cost of any such additional Building services requested by Tenant and for the reasonable cost of any additions, alterations, improvements or other work performed by Landlord in the Premises at the express, written request of Tenant within thirty (30) days after being billed therefor.  Tenant acknowledges that Landlord will provide notice of such rates and that Tenant will request any such services, and that they will communicate with each other regarding such matters in general, using the Angus electronic work order system, or other electronic system or media adopted by Landlord from time to time, and that such communications shall be deemed to be “in writing” or “written” for purposes of this Section.

 

4.1.3                     Roof, Exterior Wall, Floor Slab and Common Facility Repairs.

 

Except for damage caused by fire and casualty and by eminent domain, and except as otherwise provided in Article VI and subject to the escalation provisions of Section 2.6, (i) to maintain in a neat, attractive and first-class condition all roadways, landscaped areas, signs, parking areas, sidewalks and entrance areas within the Property, and to reseal and restripe as reasonably necessary all paved areas, to maintain and make such repairs to the roof, exterior walls, floor slabs, common building systems (including those serving the Premises), and common areas and facilities as may be necessary to keep them in first-class working order and condition and (ii) to maintain the Building (exclusive of Tenant’s responsibilities under this Lease) in a first class manner comparable to the maintenance of similar properties in the Boston West Suburban Market.

 

4.1.4                     Signs.

 

To provide and install, at Tenant’s expense, letters or numerals on exterior doors of the Premises to identify Tenant’s official name and Building address.  Landlord shall also provide and install, at Landlord’s expense, signage listing Tenant on all Building directories, both in the lobbies and in the elevator lobby on the third (3rd) and fourth (4th) floors of the Building.  The initial listings shall be at Landlord’s expense, and any changes to such listings shall be at Tenant’s expense.  Landlord shall also provide and install, at Landlord’s expense, exterior Building monument signage.  All such letters, numerals, listings and other signage shall be in the Building standard graphics and no others shall be used or permitted, unless Landlord shall permit other tenants to use their own graphics and logos, in which case Tenant shall also have such right, subject to Landlord’s reasonable prior approval of same.

 

In addition to the foregoing, Tenant shall have the right to provide impact signage of the type, size and design similar to that of the elevator lobby signage of AMAG and Fleetmatics at the Building (“Impact Signage”), and shall be permitted to install such Impact Signage in the fourth (4th) floor elevator lobby in a location similar to the location of the AMAG and Fleetmatics signage at Tenant’s expense (subject, however, to application of the Tenant Allowance).  At the expiration or earlier termination of the Term hereof, Tenant shall remove such Impact Signage at Tenant’s expense.  In addition, at any time that Tenant is leasing less than twenty thousand (20,000) square feet of rentable floor area hereunder, Landlord shall have the right to require Tenant to remove such Impact Signage at Tenant’s expense.

 

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4.2                               Interruptions and Delays in Services and Repairs, Etc.

 

Landlord shall not be liable to Tenant for any compensation or reduction of rent by reason of inconvenience or annoyance or for loss of business arising from the necessity of Landlord or its agents entering the Premises for any of the purposes in this Lease authorized, or for repairing the Premises or any portion of the Building however the necessity may occur so long as Landlord uses commercially reasonable efforts to minimize any interference with Tenant’s use and occupancy of and access to the Premises (taking into account, however, the nature of the reason for such entry), except if due to the negligence and willful misconduct of Landlord or its agents, contractors or employees.  In case Landlord is prevented or delayed from making any repairs, alterations or improvements, or furnishing any services or performing any other covenant or duty to be performed on Landlord’s part, by reason of any cause reasonably beyond Landlord’s control, including without limitation by reason of Force Majeure (as defined in Section 6.1.7 hereof), Landlord shall not be liable to Tenant therefor, nor, except as expressly otherwise provided in Article VI, shall Tenant be entitled to any abatement or reduction of rent by reason thereof, or right to terminate this Lease, nor shall the same give rise to a claim in Tenant’s favor that such failure constitutes actual or constructive, total or partial, eviction from the Premises.

 

Landlord reserves the right to stop any service or utility system, when necessary by reason of accident or emergency, or until necessary repairs have been completed; provided, however, that in each instance of stoppage, Landlord shall exercise reasonable diligence to eliminate the cause thereof. Except in case of emergency repairs, Landlord will give Tenant reasonable advance notice of any contemplated stoppage and will use reasonable efforts to avoid unnecessary inconvenience to Tenant by reason thereof.

 

Notwithstanding anything herein contained to the contrary, if, due to any of the following (collectively “Abatement Events”): (i) any repairs, alterations, replacements, or improvements made by Landlord, (ii) Landlord’s failure to make any repairs, alterations, or improvements required to be made by Landlord hereunder, or to provide any service required to be provided by Landlord hereunder, or (iii) failure of electric supply, any portion of the Premises becomes untenantable or it is impracticable for Tenant to conduct its business in the Premises in the ordinary course and that such untenantability and Landlord’s inability to cure such Abatement Event is not caused by the fault or neglect of Tenant or Tenant’s agents, employees or contractors, then Annual Fixed Rent, Tenant’s share of increases in Landlord’s Operating Expenses and Tenant’s share of increases in Landlord’s Tax Expenses shall thereafter be abated, in proportion to such untenantability and its impact on the continued operation of Tenant’s business in the Premises in the ordinary course, commencing on the day immediately after the expiration of the Premises Untenantability Cure Period (as hereinafter defined) until the day such the Abatement Event is completely corrected (the amount of such abatement being referred to herein as “Tenant’s Abatement Amount”).  For the purposes hereof, the “Premises Untenantability Cure Period” shall be defined as five (5) consecutive business days after Landlord’s receipt of written notice from Tenant of the condition causing the Abatement Event, provided however, that the Premises Untenantability Cure Period shall be ten (10) consecutive business days after Landlord’s receipt of written notice from Tenant of the condition causing the Abatement Event if either such condition was caused by causes beyond Landlord’s control or Landlord is unable to cure such condition as the result of causes beyond Landlord’s control.

 

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Notwithstanding anything herein contained to the contrary, in no event shall any of the events referred to in this Section 4.2 give rise to a claim in Tenant’s favor that such failure constitutes actual or constructive, total or partial, eviction from the Premises. The provisions of this Section 4.2 shall not apply in the case of damage caused by any fire or other casualty or damage caused as a result of any taking under the power of eminent domain, Tenant acknowledging and agreeing that the provisions of Article VI of this Lease shall exclusively control and govern in the case of fire, other casualty or taking under the power of eminent domain.

 

4.3                               Access.

 

So long as Tenant shall comply with Landlord’s reasonable security program for the Building, Tenant shall have access to the Premises twenty-four (24) hours per day during the Term of this Lease except in an emergency or in the case of Force Majeure (as defined in Section 6.1.7 below).

 

4.4                               Security Access System.

 

Provided that Tenant obtains Landlord’s prior written consent for such installations (which consent shall not be unreasonably withheld, conditioned, or delayed), Tenant shall have the right to install a cardkey based security access system on the Premises.

 

4.5                               Hazardous Materials.

 

Landlord represents to Tenant that to the best of Landlord’s actual knowledge as of the Date of this Lease there are no Hazardous Materials in the Building or on the Site which are required to be removed or otherwise abated in accordance with applicable Hazardous Materials Laws.  Subject to the limitations set forth in Section 9.3.2 hereof, Landlord shall remove or abate, as required by applicable Hazardous Materials Laws, but only if and to the extent the abatement or removal of such Hazardous Materials is not the responsibility of other tenants or occupants of the Office Park,

 

(a) Hazardous Materials on the Site,

 

(b) Hazardous Materials in the common areas of the Building,

 

(c) Hazardous Materials in the “Base Building” (as hereinafter defined), and

 

(d) (i) Hazardous Materials resulting from the use of, or additions, alterations or improvements in, any tenant space in the Building, including the Premises, or (ii) Hazardous Materials which are in the Building or on the Site because of the action or inaction of any tenant or occupant in the Office Park, including Tenant, or any employee, agent or contractor thereof, or (iii) Hazardous Materials which are in any tenant space in the Building, including the Premises, and any additions, alterations and improvements therein.

 

For purposes of this Section 4.5, the “Base Building” shall mean the structural elements of the Building and the heating, ventilating and air conditioning, electrical and plumbing systems and equipment bringing primary service to the tenant spaces in the Building.  Subject to the

 

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limitations set forth in Section 9.3.2 hereof, Landlord agrees to indemnify and save Tenant harmless from liability, loss and damage to persons or property and from any claims, actions, proceedings and expenses in connection therewith resulting from the failure of Landlord to fulfill its obligations under the preceding sentence; provided, however, that in no event shall the foregoing indemnity render Landlord liable for any loss or damage to Tenant’s Property unless such damage is due to the negligence or willful misconduct of Landlord or Landlord’s employees, agents or contractors and Landlord shall in no event be liable for indirect or consequential damages.

 

4.6                               Code Compliance.

 

4.6.1                     Landlord represents to Tenant that, to the best of Landlord’s knowledge that, as of the Execution Date of this Lease, the Building, including, without limitation, the Premises, has been constructed and maintained in conformance with applicable building codes and laws.

 

4.6.2                     Landlord shall maintain the common areas of the Building and the Property in compliance with all applicable laws, including ADA.

 

ARTICLE V
 TENANT’S COVENANTS

 

Tenant covenants and agrees to the following during the Term and such further time as Tenant occupies any part of the Premises:

 

5.1                               Payments.

 

To pay when due all fixed rent and Additional Rent and all charges for utility services rendered to the Premises (except as otherwise provided in Exhibit C) and, as further Additional Rent, all charges for additional services rendered pursuant to Section 4.1.2. In the event Tenant pays any utilities for the Premises directly to the utility company or provider, Tenant shall, upon request by Landlord, provide Landlord with such utility bills so that Landlord can review the utility bills relating to the Premises.

 

5.2                               Repair and Yield Up.

 

Except as otherwise provided in Article VI and Section 4.1.3 to keep the Premises in good order, repair and condition, including all glass in windows (except glass in exterior walls unless the damage thereto is attributable to Tenant’s negligence or willful misconduct) and doors of the Premises whole and in good condition with glass of the same type and quality as that injured or broken, reasonable wear and tear, damage caused by fire or other casualty, or taking under the power of eminent domain, and damage caused by the negligence or willful misconduct of Landlord or Landlord’s agents, employees or contractors only excepted, and at the expiration or termination of this Lease peaceably to yield up the Premises all construction, work, improvements, and all alterations and additions thereto in the same condition in which Tenant is required to maintain the Premises during the Term, as aforesaid, first removing all goods and personal effects of Tenant, including, without limitation, the wiring for Tenant’s computer, telephone and other communication systems and equipment whether located in the Premises or

 

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in any other portion of the Building, including all risers, and all alterations and additions made by Tenant (provided that Landlord has required Tenant to remove such alterations and additions in accordance with Section 5.12 hereof) and all partitions, and repairing any damage caused by such removal and restoring the Premises and leaving them clean and neat.  Notwithstanding the foregoing, if Tenant uses the Tenant Allowance to pay for the security systems which it installs to protect the Premises, then such security systems shall, upon the expiration, or earlier termination of the Term of the Lease, become the property of Landlord, and Tenant shall not remove the same from the Premises.  Tenant shall not permit or commit any waste, and Tenant shall be responsible for the reasonable cost of repairs which may be made necessary by reason of damage to common areas in the Building, to the Site or to the other buildings caused by Tenant, Tenant’s agents, contractors, employees, sublessees, licensees, concessionaires or invitees.

 

5.3                               Use.

 

To use and occupy the Premises for the Permitted Use only, and not to injure or deface the Premises, Building, the Site or any other part of the Property nor to permit in the Premises or on the Site any auction sale, or inflammable fluids or chemicals, or nuisance, or the emission from the Premises of any objectionable noise or odor, nor to permit in the Premises anything which would in any way result in the leakage of fluid or the growth mold, and not to use or devote the Premises or any part thereof for any purpose other than the Permitted Use, nor any use thereof which is inconsistent with the maintenance of the Building as an office building of the first class in the quality of its maintenance, use and occupancy, or which is improper, offensive, contrary to law or ordinance or liable to invalidate or increase the premiums for any insurance on the Building or its contents or liable to render necessary any alteration or addition to the Building. Further, (i) Tenant shall not, nor shall Tenant permit its employees, invitees, agents, independent contractors, contractors, assignees or subtenants to, keep, maintain, store or dispose of (into the sewage or waste disposal system or otherwise) or engage in any activity which might produce or generate any substance which is classified as a hazardous material, waste or substance (collectively “Hazardous Materials”), under federal, state or local laws, rules and regulations, including, without limitation, 42 U.S.C. Section 6901 et seq., 42 U.S.C. Section 9601 et seq., 42 U.S.C. Section 2601 et seq., 49 U.S.C. Section 1802 et seq. and Massachusetts General Laws, Chapter 21E and the rules and regulations promulgated under any of the foregoing, as such laws, rules and regulations may be amended from time to time (collectively “Hazardous Materials Laws”), (ii) Tenant shall immediately notify Landlord of any incident of which it has knowledge in, on or about the Premises, the Building or the Site that would require the filing of a notice under any Hazardous Materials Laws, (iii) Tenant shall comply and shall cause its employees, invitees, agents, independent contractors, contractors, assignees and subtenants to comply with each of the foregoing and (iv) Landlord shall have the right (at Landlord’s cost, unless Tenant shall have violated the foregoing, in which case Tenant shall pay the cost), subject to the provisions of this Lease governing access to the Premises, to make such inspections (including testing) as Landlord shall elect from time to time to determine that Tenant is complying with the foregoing.

 

5.4                               Obstructions; Items Visible From Exterior; Rules and Regulations.

 

5.4.1                     Not to obstruct access to any portion of the Building not hereby leased or any portion thereof or of the Site used by Tenant in common with others; not without prior

 

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consent of Landlord (which shall be in Landlord’s sole, but good faith, discretion) to permit the painting or placing of any signs (other than Tenant’s standard signage, logos and graphics as otherwise permitted herein), curtains, blinds, shades, awnings, aerials or flagpoles, or the like, visible from outside the Premises (including, without limitation, from common lobbies within the Building); and to comply with all reasonable rules and regulations or the requirements of any customer handbook currently in existence or hereafter implemented, of which Tenant has been given notice, for the care and use of the Building and Site and their facilities and approaches; Landlord shall not be liable to Tenant for the failure of other occupants of the Buildings to conform to such rules and regulations.  Notwithstanding anything to the contrary in this Lease contained, Landlord agrees that it will not enforce said rules and regulations against Tenant in a discriminatory or arbitrary manner, recognizing that differing circumstances may justify different treatment.  In the case of any conflict between the terms of this Lease and such rules or regulations, the terms of this Lease shall control, it being understood that no such rule or regulation shall have the effect of amending this Lease.  Notwithstanding the foregoing, Tenant may use materials such as adhesives, lubricants, ink, solvents and cleaning fluids of the kind and in amounts and in the manner customarily found and used in business offices in order to conduct its business at the Premises and to maintain and operate the business machines located in the Premises provided that such materials are used, stored and disposed of by Tenant strictly in accordance with all applicable Legal Requirements.

 

5.5                               Safety Appliances.

 

To keep the Premises equipped with all safety appliances required by any public authority because of any use made by Tenant other than normal office use, and to procure all licenses and permits so required because of such use and, if requested by Landlord, to do any work so required because of such use, it being understood that the foregoing provisions shall not be construed to broaden in any way Tenant’s Permitted Use.

 

5.6                               Assignment; Sublease.

 

Except as otherwise expressly provided in this Section 5.6, Tenant covenants and agrees that it shall not assign, mortgage, pledge, hypothecate or otherwise transfer this Lease and/or Tenant’s interest in this Lease or sublet (which term, without limitation, shall include granting of concessions, licenses or the like) the whole or any part of the Premises.  Subject to the provisions of Section 5.6.4 hereof, in addition, the merger or consolidation of Tenant into or with any other entity, or the sale of all or substantially all of its assets, shall be deemed to be an assignment within the meaning of this Section 5.6.  Any assignment, mortgage, pledge, hypothecation, transfer or subletting not expressly permitted in or consented to by Landlord under Sections 5.6.1-5.6.6 shall, at Landlord’s election, be void; shall be of no force and effect; and shall confer no rights on or in favor of third parties. In addition, Landlord shall be entitled to seek specific performance of or other equitable relief with respect to the provisions hereof. The limitations of this Section 5.6 shall be deemed to apply to any guarantor(s) of this Lease.

 

5.6.1                     Notwithstanding the provisions of Section 5.6 above, in the event Tenant desires to assign this Lease or to sublet the whole or any part of the Premises, Tenant shall give Landlord notice of any proposed sublease or assignment (the “Tenant’s Proposed Transfer Notice”), and said notice shall specify the provisions of the proposed assignment or subletting,

 

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including (a) the name and address of the proposed assignee or subtenant, (b) in the case of a proposed assignment or subletting pursuant to Section 5.6.3 below, such information as to the proposed assignee’s or proposed subtenant’s net worth and financial capability and standing as may reasonably be required for Landlord to make the determination referred to in said Section 5.6.3 (provided, however, that Landlord shall hold such information confidential having the right to release same to its officers, accountants, attorneys and mortgage lenders on a confidential basis), (c) all of the material terms and provisions upon which the proposed assignment or subletting is to be made, (d) in the case of a proposed assignment or subletting pursuant to Section 5.6.3 below, all other information reasonably necessary to make the determination referred to in said Section 5.6.3, (e) in the case of a proposed assignment or subletting pursuant to Section 5.6.4 below, such information as may be reasonably required by Landlord to determine that such proposed assignment or subletting complies with the requirements of said Section 5.6.4, and (f) in the case of a proposed sublease, the portion of the Premises proposed to be sublet (the “Sublet Space”) and the proposed sublease term.

 

5.6.2                     Landlord shall have the right at its sole option, to be exercised within thirty (30) days after receipt of Tenant’s Proposed Transfer Notice (the “Acceptance Period”), (i) in the case of a proposed assignment of this Lease, to terminate this Lease, and (ii) in the case of a proposed subletting, to terminate this Lease as to any Sublet Space consisting of fifty percent (50%) or more of the Premises then demised to Tenant, with such termination to be effective, in each case, as of a date specified in a notice to Tenant, which termination date shall not be earlier than sixty (60) days nor later than ninety (90) days after Landlord’s termination notice to Tenant; provided, however, that upon the termination date as set forth in Landlord’s notice, (x) in the case of a proposed assignment of this Lease, all obligations relating to the Premises, and (y) in the case of a proposed subletting, all obligations as to the Sublet Space, in each case relating to the period after such termination date (but not those relating to the period before such termination date) shall cease and promptly upon being billed therefor by Landlord, Tenant shall make final payment of all Annual Fixed Rent and Additional Rent due from Tenant through the termination date.  In the event that the Sublet Space consists of only a part of the Premises, Landlord shall, at Landlord’s cost, perform and complete any and all work necessary to separately demise and separate such part of the Premises (the “Excluded Space”) with reasonable diligence and in a reasonable manner but in any event within ninety (90) days of the termination date.  In the event Landlord exercises its termination rights hereunder with respect to the Premises or the Excluded Space, then the Premises or the Excluded Space, as the case may be, shall be delivered to Landlord on the termination date specified in Landlord’s termination notice in good order and condition and in the manner provided in this Lease for the surrender of the Premises at the end of the Term in accordance with Section 5.2.  Landlord shall use commercially reasonable efforts to minimize any interference with Tenant’s use and occupancy of the Premises.  Annual Fixed Rent and the Rentable Floor Area of the Premises and all Additional Rent based upon the Rentable Floor Area of the Premises (including, without limitation, Operating Expenses Allocable to the Premises, Base Operating Expenses Allocable to the Premises, Landlord’s Tax Expenses Allocable to the Premises, Base Taxes Allocable to the Premises and the number of parking spaces to which Tenant is entitled hereunder) shall be reasonably and equitably adjusted to reflect the removal of the Excluded Space.  In such event, Landlord shall prepare, and the parties shall execute, an amendment to this Lease in form and substance reasonably satisfactory to both parties, reflecting and confirming the foregoing.  In the event that Landlord shall not exercise its termination rights as aforesaid, or shall fail to give any

 

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or timely notice pursuant to this Section, then Landlord shall have no right to terminate the Lease as to the Premises (in the case of a proposed assignment) or the Sublet Space (in the case of a proposed subletting), and the provisions of Sections 5.6.3, 5.6.5 and 5.6.6 shall thereafter be applicable. This Section 5.6.2 shall not be applicable to an assignment or sublease pursuant to Section 5.6.4.

 

5.6.3                     Notwithstanding the provisions of this Section 5.6, but subject to the provisions of this Section 5.6.3 and the provisions of Sections 5.6.5 and 5.6.6 below, in the event that Landlord shall not have exercised the termination right as set forth in Section 5.6.2, or shall have failed to give any or timely notice under Section 5.6.2, then for a period of one hundred eighty (180) days (i) after the receipt of Landlord’s notice stating that Landlord does not elect the termination right, or (ii) after the expiration of the Acceptance Period, in the event Landlord shall not give any or timely notice under Section 5.6.2, as the case may be, Tenant shall have the right to assign this Lease or sublet the whole or part of the Premises in accordance with the Proposed Transfer Notice provided that, in each instance, Tenant first obtains the express prior written consent of Landlord, which consent shall not be unreasonably withheld, conditioned or delayed.  In the event Landlord fails to respond to Tenant’s Proposed Transfer Notice within forty-five days of the date thereof, Landlord’s consent shall be deemed granted.

 

Without limiting the foregoing standard, Landlord shall not be deemed to be unreasonably withholding its consent to such a proposed assignment or subleasing if:

 

(a)                                 the proposed assignee or subtenant is an occupant of the Building or elsewhere within the Office Park and other space is available to lease within Office Park that meets the needs of such occupant, or is in active negotiation with Landlord or an affiliate of Landlord for premises in the Building or elsewhere within the Office Park, or

 

(b)                                 the proposed assignee or subtenant is not of a character consistent with the operation of a first class office building (by way of example Landlord shall not be deemed to be unreasonably withholding its consent to an assignment or subleasing to any governmental or quasi-governmental agency that regularly deals with the public at large in such agency’s office (e.g. Social Security Administration or Registry of Motor Vehicles)), or

 

(c)                                  the proposed assignee or subtenant is not of good character and reputation, or

 

(d)                                 the proposed assignee or subtenant does not possess adequate financial capability to perform the Tenant obligations as and when due or required, or

 

(e)                                  the proposed assignee or subtenant proposes to use the Premises (or part thereof) for a purpose other than the purpose for the Permitted Use, or

 

(f)                                   the character of the business to be conducted or the proposed use of the Premises by the proposed subtenant or assignee shall (i) materially increase Landlord’s Operating Expenses beyond that which Landlord now incurs for use by Tenant; (ii) materially increase the burden on elevators or other Building systems or equipment over the burden generated by normal and customary office usage; or (iii) violate or be reasonably likely to violate

 

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any provisions or restrictions contained herein relating to the use or occupancy of the Premises, or

 

(g)                                  there shall be existing a monetary or material non-monetary Event of Default (defined in Section 7.1), or

 

(h)                                 any part of the rent payable under the proposed assignment or sublease shall be based in whole or in part on the income or profits derived from the Premises or if any proposed assignment or sublease shall potentially have any adverse effect on the real estate investment trust qualification requirements applicable to Landlord and its affiliates, or

 

(i)                                     the holder of any mortgage or ground lease on property which includes the Premises does not approve of the proposed assignment or sublease, but only if such approval is required by Landlord’s financing documents, or

 

(j)                                    due to the identity or business of a proposed assignee or subtenant, such approval would cause Landlord to be in violation of any covenant or restriction contained in another lease or other agreement affecting space in the Building or elsewhere in the Property (Landlord hereby representing to Tenant that, as of the Execution Date of this Lease, there exist no such covenants or restrictions contained in another lease or other agreement, or

 

(k)                                 in the case of a proposed subleasing, such sublease would result in there being more than three (3) subleases of space in the Premises in effect at any given time.

 

If Landlord shall consent to the proposed assignment or subletting, as the case may be, then, in such event, Tenant may thereafter sublease the whole or part of the Premises) or assign pursuant to Tenant’s notice, as given hereunder; provided, however, that if such assignment or sublease shall not be executed and delivered to Landlord within one hundred eighty (180) days after the date of Landlord’s consent, the consent shall be deemed null and void and the provisions of Section 5.6.1 shall be applicable.

 

5.6.4                     Notwithstanding anything to the contrary contained herein, but subject to the provisions of Sections 5.6.1 and 5.6.6, Tenant shall have the right without Landlord’s consent to assign this Lease or to sublet the Premises (in whole or in part) to any other entity (the “Successor Entity”) (i) which controls or is controlled by Tenant or Tenant’s parent corporation, or which is under common control with Tenant, provided that in any such case such transfer or transaction is for a legitimate regular business purpose of Tenant other than a transfer of Tenant’s interest in this Lease, or (ii) which purchases all or substantially all of the assets of Tenant, or (iii) which purchases all or substantially all of the stock of (or other ownership or membership interests in) Tenant, or (iv) which merges or combines with Tenant, provided that in any of the foregoing events, the entity to which this Lease is so assigned or which so sublets the Premises has a credit worthiness (e.g. net assets on a pro forma basis using generally accepted accounting principles consistently applied and using the most recent financial statements) which is the same or better than the Tenant as of the date of this Lease (the foregoing transferees referred to, individually or collectively, as a “Permitted Transferee”).  Except in cases of statutory merger, in which case the surviving entity in the merger shall be liable as the Tenant under this Lease, Tenant shall continue to remain fully liable under this Lease, on a joint and several basis with the

 

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Permitted Transferee. If any parent, affiliate or subsidiary of Tenant to which this Lease is assigned or the Premises sublet (in whole or in part) shall cease to be such a parent, affiliate or subsidiary within one (1) year after the effectiveness of such sublease or assignment, such cessation shall be considered an assignment or subletting requiring Landlord’s consent in accordance with this Section 5.6.

 

5.6.5                     In the case of any assignment or subleasing as to which Landlord may consent (other than an assignment or subletting permitted under Section 5.6.4 above) such consent shall be upon the express and further condition, covenant and agreement, and Tenant hereby covenants and agrees that, in addition to the Annual Fixed Rent, Additional Rent and other charges to be paid pursuant to this Lease, fifty percent (50%) of the “Assignment/Sublease Profits” (hereinafter defined), if any, shall be paid to Landlord.  The “Assignment/Sublease Profits” shall be the excess, if any, of (a) the “Assignment/Sublease Net Revenues” as hereinafter defined over (b) the Annual Fixed Rent, the amount of Landlord’s Operating Expenses and the amount of Landlord’s Tax Expenses payable by Tenant as provided in this Lease (provided, however, that for the purpose of calculating the Assignment/Sublease Profits in the case of a sublease, appropriate prorations in the applicable Annual Fixed Rent, the amount of Landlord’s Operating Expenses and the amount of Landlord’s Tax Expenses payable by Tenant shall be made based on the percentage of the Premises subleased and on the terms of the sublease).  The “Assignment/Sublease Net Revenues” shall be the fixed rent, plus the amount of Landlord’s Operating Expenses and Landlord’s Tax Expenses payable either initially or over the term of the sublease or assignment plus all other payments and/or compensation paid to Tenant in connection with such subletting or assignment (excluding any compensation reasonably and equitably allocable to the sale of Tenant’s furniture, trade fixtures, equipment or other personal property), less the costs of Tenant incurred in such subleasing or assignment (the definition of which shall be limited to brokerage commissions, marketing and advertising costs, legal fees and alteration costs and allowances and rent concessions, in each case actually paid or incurred), as set forth in a statement certified by an appropriate officer of Tenant and delivered to Landlord within thirty (30) days of the commencement of the sublease or assignment, deducted first before calculating the Assignment/Sublease Profits (so that Tenant recoups its expenses before sharing any profit).

 

All payments of the Assignment/Sublease Profits due Landlord shall be made within fifteen (15) days of receipt of same by Tenant.

 

5.6.6                     (a)                                 It shall be a condition of the validity of any assignment or subletting consented to under Section 5.6.3 above, or any assignment or subletting of right under Section 5.6.4 above, that both Tenant and the assignee or sublessee enter into a separate written instrument directly with Landlord pursuant to which the assignee or sublessee agrees to be bound directly to Landlord for all the obligations of the Tenant under this Lease (including any amendments or extensions thereof), including, without limitation, the obligation (a) to pay the rent and other amounts provided for under this Lease, provided, however, that subtenant shall only be required to pay rent in accordance with the terms of the sublease), (b) to comply with the provisions of Sections 5.6 through 5.6.6 hereof and (c) to indemnify the “Landlord Parties” (as defined in Section 8.1(g)) as provided in Section 8.1 hereof. Such assignment or subletting shall not relieve the Tenant named herein of any of the obligations of the Tenant hereunder and Tenant shall remain fully and primarily liable therefor and the liability of Tenant and such assignee (or subtenant, as the case may be) shall be joint and several. Further, and notwithstanding the

 

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foregoing, the provisions hereof shall not constitute a recognition of the sublease or the subtenant thereunder, as the case may be, and at Landlord’s option, upon the termination or expiration of the Lease (whether such termination is based upon a cause beyond Tenant’s control, a default of Tenant, the agreement of Tenant and Landlord or any other reason), the sublease shall be terminated.

 

(b)                                 As Additional Rent, Tenant shall pay to Landlord as a fee for Landlord’s review of any proposed assignment or sublease requested by Tenant and the preparation of any associated documentation in connection therewith, within thirty (30) days after receipt of an invoice from Landlord, an amount equal to either (i) One Thousand and 00/100 Dollars ($1,000.00) for time spent by Landlord’s in-house personnel in connection with any given request for consent, or (ii) the reasonable out of pocket legal fees and expenses incurred by Landlord in connection with any given request for consent, not to exceed Five Thousand and 00/100 Dollars ($5,000.00) in connection with any such request.

 

(c)                                  If this Lease be assigned, or if the Premises or any part thereof be sublet or occupied by anyone other than Tenant, Landlord may upon prior written notice to Tenant, at any time and from time to time during the continuance of an Event of Default, collect rent and other charges from the assignee, sublessee or occupant and apply the net amount collected to the rent and other charges herein reserved, but no such assignment, subletting, occupancy or collection shall be deemed a waiver of this covenant, or a waiver of the provisions of Sections 5.6 through 5.6.6 hereof, or the acceptance of the assignee, sublessee or occupant as a tenant or a release of Tenant from the further performance by Tenant of covenants on the part of Tenant herein contained, the Tenant herein named to remain primarily liable under this Lease.

 

(d)                                 The consent by Landlord to an assignment or subletting under Section 5.6.3 above, or the consummation of an assignment or subletting of right under Section 5.6.4 above, shall in no way be construed to relieve Tenant from obtaining the express consent in writing of Landlord to any further assignment or subletting in accordance with the provisions of this Section 5.6.

 

(e)                                  During the continuance of an “Event of Default” (defined in Section 7.1), Landlord shall be entitled to one hundred percent (100%) of any Assignment/Sublease Profits.

 

(f)                                   Without limiting Tenant’s obligations under Section 5.12, Tenant shall be responsible, at Tenant’s sole cost and expense, for performing all work necessary to comply with Legal Requirements and Insurance Requirements in connection with any assignment or subletting hereunder including, without limitation, any work in connection with such assignment or subletting.

 

5.7                               Right of Entry.

 

To permit Landlord and its agents to examine the Premises at reasonable times upon reasonable prior notice (which may be oral or by email to Tenant’s office manager) except in the cases of emergency, when no notice shall be required, and, if Landlord shall so elect consistent with the provisions of this Lease, to make any alterations, additions or improvements contemplated by this Lease or any repairs or replacements Landlord may deem necessary in

 

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accordance with the terms and provisions of this Lease; to remove, at Tenant’s expense, any alterations, addition, signs, curtains, blinds, shades, awnings, aerials, flagpoles, or the like not consented to in writing; and to show the Premises to prospective tenants during the eleven (11) months preceding expiration of the Term and to prospective purchasers and mortgagees at all reasonable times.

 

In the event Tenant sends a notice alleging the existence of a dangerous or unsafe condition, any requirements for prior notice or limitations on Landlord’s access to the Premises contained in this Lease shall be deemed waived by Tenant so that Landlord may immediately exercise its rights under this Section 5.7 and Section 9.16 in such manner as Landlord deems necessary in its reasonable discretion to remedy such dangerous or unsafe condition.

 

5.8                               Floor Load; Prevention of Vibration and Noise.

 

Not to place a load upon the Premises exceeding an average rate of 70 pounds of live load per square foot of floor area (partitions shall be considered as part of the live load); and not to move any safe, vault or other heavy equipment in, about or out of the Premises except in such manner and at such time as Landlord shall in each instance authorize; Tenant’s business machines and mechanical equipment which cause vibration or noise that may be transmitted to the Building structure or to any other space in the Building shall be so installed, maintained and used by Tenant so as to eliminate such vibration or noise to the extent that such vibration and noise cannot be perceived outside of the Premises.

 

5.9                               Personal Property Taxes.

 

To pay promptly when due all taxes which may be imposed upon “Tenant’s Property” (as defined in Section 8.1(g) hereof) in the Premises to whomever assessed.

 

5.10                        Compliance with Laws.

 

To comply with all applicable Legal Requirements now or hereafter in force regarding the operation of Tenant’s business and the use, condition, configuration and occupancy of the Premises.  Notwithstanding the foregoing, Tenant shall not be responsible for any structural alterations or repairs necessitated by applicable Legal Requirements unless triggered by Tenant’s use of the Premises beyond the Permitted Use, or by alterations, additions or improvements in the Premises performed or requested by Tenant.  In addition, Tenant shall, at its sole cost and expense, promptly comply with any Legal Requirements that relate to the Base Building (as hereinafter defined), but only to the extent such obligations are triggered by Tenant’s use of the Premises, other than for the Permitted Use, or by alterations, additions or improvements in the Premises performed or requested by Tenant.  “Base Building” shall include the structural portions of the Building, the public restrooms and the Building mechanical, electrical and plumbing systems and equipment located in the internal core of the Building on the floor or floors on which the Premises are located.  Tenant shall promptly pay all fines, penalties and damages that may arise out of or be imposed because of its failure to comply with the provisions of this Section 5.10.  Landlord shall comply with the Americans with Disabilities Act of 1990, and the rules and regulations promulgated thereunder (“ADA”) so far as they relate to the common areas in the Building and the Property, including, without limitation, common

 

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restrooms in the Building, building entrances, elevators, auto and pedestrian ingress and egress, fire exits and stairs, and fire/life safety devices.

 

5.11                        Payment of Litigation Expenses.

 

Tenant shall pay, as Additional Rent, all reasonable costs, counsel and other fees incurred by Landlord in connection with the successful enforcement by Landlord of any obligations of Tenant under this Lease or in connection with any bankruptcy case involving Tenant or any guarantor.

 

Landlord shall pay all reasonable costs, counsel and other fees incurred by Tenant in connection with the successful enforcement by Tenant of any obligations of Landlord under this Lease or in connection with any bankruptcy case involving Landlord.

 

5.12                        Alterations.

 

The parties hereby agree that, while the provisions of this Section 5.12 apply to the initial Tenant’s Work, if, with respect to the initial Tenant’s Work, there is any inconsistency between the provisions of Exhibit B-1 and the provisions of this Section 5.12, the provisions of Exhibit B-1 shall control.

 

Tenant shall not make alterations and additions to Tenant’s Premises except in accordance with plans and specifications therefor first approved by Landlord, which approval shall not be unreasonably withheld, conditioned or delayed.  However, Landlord’s determination of matters relating to aesthetic issues relating to alterations, additions or improvements which are visible outside the Premises (including, without limitation, from common lobbies within the Building) shall be in Landlord’s sole, but good faith, discretion.  Landlord’s initial approval, or disapproval with supporting specific reasons, of Tenant’s plans and specifications (other than the Plans relating to the initial Tenant’s Work) shall be provided to Tenant within fifteen (15) days of Landlord’s receipt of such plans, except that if Landlord reasonably determines that it must engage an outside consultant in connection with its review and approval of such plans and specifications (i.e., because, in Landlord’s reasonable judgment, Landlord’s staff does not have the appropriate skills to perform such review), the period for Landlord’s review of such plans and specifications shall be fifteen (15) business days after Landlord’s receipt.  Future approvals, or disapprovals with supporting specific reasons, for subsequent submittals of corrections or changes, shall be provided to Tenant within three (3) business days of Landlord’s receipt of such revised plans.

 

Without limiting such standard Landlord shall not be deemed unreasonable for withholding approval of any alterations or additions (including, without limitation, any alterations or additions to be performed by Tenant under Article III) which (a) in Landlord’s opinion reasonably likely to materially and adversely affect any structural or exterior element of the Building, any area or element outside of the Premises, or any facility or base building mechanical system serving any area of the Building outside of the Premises, or (b) involve or affect the exterior design, size, height, or other exterior dimensions of the Building or (c) will require unusual expense to readapt the Premises to normal office use on Lease termination or expiration or increase the cost of construction or of insurance or taxes on the Building or of the

 

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services called for by Section 4.1 unless Tenant first gives assurance reasonably acceptable to Landlord for payment of such increased cost and that such readaptation will be made prior to such termination or expiration without expense to Landlord, or (d) enlarge the Rentable Floor Area of the Premises, or (e) are inconsistent with alterations satisfying Landlord’s then existing generally applicable Building standards for new alterations in the Building.  Landlord’s review and approval of any such plans and specifications and consent to perform work described therein shall not be deemed an agreement by Landlord that such plans, specifications and work conform with applicable Legal Requirements and requirements of insurers of the Building and the other requirements of this Lease with respect to Tenant’s insurance obligations (herein called “Insurance Requirements”) nor deemed a waiver of Tenant’s obligations under this Lease with respect to applicable Legal Requirements and Insurance Requirements nor impose any liability or obligation upon Landlord with respect to the completeness, design sufficiency or compliance of such plans, specifications and work with applicable Legal Requirements and Insurance Requirements nor give right to any other parties. Further, Tenant acknowledges that Tenant is acting for its own benefit and account, and that Tenant shall not be acting as Landlord’s agent in performing any work in the Premises, accordingly, no contractor, subcontractor or supplier shall have a right to lien Landlord’s interest in the Property in connection with any such work. Within thirty (30) days after receipt of an invoice from Landlord, Tenant shall pay to Landlord as a fee for Landlord’s review of any work or plans (excluding any review respecting Tenant’s initial improvements performed pursuant to Article III hereof and Exhibits B-1 and B-2 attached hereto, but including any review of plans or work relating to any assignment or subletting), as Additional Rent, an amount equal to the sum of: (i) $150.00 per hour for time spent by Landlord’s in-house personnel, up to a maximum of Five Thousand and 00/100 Dollars ($5,000.00), plus (ii) third party expenses incurred by Landlord to review Tenant’s plans and Tenant’s work, up to a maximum of Five Thousand and 00/100 Dollars ($5,000.00), for an aggregate maximum of Ten Thousand and 00/100 Dollars ($10,000.00).

 

Notwithstanding the terms of this Section 5.12, Tenant shall have the right, without obtaining the prior consent of Landlord, but upon at least ten (10) business days’ prior written notice to Landlord, to make alterations, additions or improvements to the Premises where:

 

(i)                                     the same are within the interior of the Premises within the Building, and do not affect the exterior of the Premises or the Building;

 

(ii)                                  the same do not affect the roof, any structural element of the Building, or the mechanical, electrical, plumbing, heating, ventilating, air-conditioning and fire protection systems of the Building;

 

(iii)                               the cost of any individual alteration, addition or improvement shall not exceed One Hundred Thousand and 00/100 Dollars ($100,000.00) in each instance; and

 

(iv)                              Tenant shall comply with the provisions of this Lease and if such work increases the cost of insurance or taxes or of services, Tenant shall pay for any such increase in cost;

 

provided, however, that Tenant shall, no later than ten (10) days after the making of such changes for which Landlord consent is not required hereunder, send to Landlord plans and

 

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specifications describing the same in reasonable detail and provided further that Landlord may, by notice to Tenant given no later than fifteen (15) days subsequent to the date on which the plans and specifications are submitted to Landlord, require Tenant to restore the Premises to its condition prior to such alteration, addition or improvement upon the expiration or earlier termination of the Lease Term.

 

All alterations and additions shall be part of the Building unless and until Landlord shall specify the same for removal pursuant to this Section 5.12, Landlord hereby agreeing to make such election at the time that Landlord approves Tenant’s plans for any such alterations, etc.  All of Tenant’s alterations and additions and installation of furnishings shall be coordinated with any work being performed by Landlord and in such manner as to maintain harmonious labor relations and not to damage the Buildings or Site or interfere with construction or operation of the Buildings and other improvements to the Site and, except for installation of furnishings, shall be performed by Landlord’s general contractor or by contractors or workers first approved by Landlord, which approval shall not be unreasonably withheld, conditioned, or delayed.  Except for work by Landlord’s general contractor, Tenant, before its work is started, shall secure all licenses and permits necessary therefor; deliver to Landlord a statement of the names of all its contractors and subcontractors and the estimated cost of all labor and material to be furnished by them and, except with respect to the initial Tenant’s Work, if the cost of such work exceeds Three Hundred Thousand and 00/100 Dollars ($300,000.00), security reasonably satisfactory to Landlord protecting Landlord against liens arising out of the furnishing of such labor and material; and cause each contractor to carry insurance in accordance with Section 8.14 herein and to deliver to Landlord certificates of all such insurance.  To the extent typically prepared for alterations of the type in question, Tenant shall also prepare and submit to Landlord at Landlord’s expense a set of as-built plans, in both print and electronic forms, showing such work performed by Tenant to the Premises promptly after any such alterations, improvements or installations are substantially complete and promptly after any wiring or cabling for Tenant’s computer, telephone and other communications systems is installed by Tenant or Tenant’s contractor. Without limiting any of Tenant’s obligations hereunder, Tenant shall be responsible, as Additional Rent, for the costs of any alterations, additions or improvements in or to the Building that are required in order to comply with Legal Requirements as a result of any work performed by Tenant.  Subject to, and in accordance with, Section 5.4, Landlord shall have the right to provide such reasonable rules and regulations relative to the performance of any alterations, additions, improvements and installations by Tenant hereunder and Tenant shall abide by all such reasonable rules and regulations and shall cause all of its contractors to so abide including, without limitation, payment for the costs of using Building services at the same rates which are charged to the other tenants of the Building.  Tenant agrees to pay promptly when due the entire cost of any work done on the Premises by Tenant, its agents, employees, or independent contractors, and not to cause or permit any liens for labor or materials performed or furnished in connection therewith to attach to the Premises or the Buildings or the Site and, within ten (10) business days, to discharge or bond over any such liens which may so attach.  Tenant shall pay, as Additional Rent, 100% of any real estate taxes imposed upon the Building, which shall, at any time after the Commencement Date, result solely from any alteration, addition or improvement to the Premises made by Tenant at any time after the Delivery Date, as determined solely by the records of the tax assessing authority; provided however, that  (i) such taxes shall only be payable by Tenant if, and to the extent that, such taxes, and the amount thereof, are specifically identified, in the records of the tax assessor, as arising solely from such

 

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Tenant alteration, addition or improvement, and (ii) if real estate taxes are determined by the tax assessor based upon a capitalization of income approach, then in no event shall there be deemed to be any additional taxes payable for the purposes of Section 2.7; and further provided however, that Tenant shall not be responsible for real estate taxes on the Property attributable to any alteration, improvement or addition to the Premises as part of Tenant’s Work to the extent that the same is paid for by application of the Tenant Allowance. Tenant acknowledges and agrees that Landlord shall be the owner of any additions, alterations and improvements in the Premises or the Building to the extent paid for by Landlord.

 

5.13                        Vendors.

 

Any vendors engaged by Tenant to perform services in or to the Premises including, without limitation, janitorial contractors and moving contractors shall be coordinated with any work being performed by or for Landlord and in such manner as to maintain harmonious labor relations and not to damage the Building or the Property or interfere with Building construction or operation and shall be performed by vendors first approved by Landlord in its reasonable discretion.

 

5.14                        OFAC.

 

As an inducement to Landlord to enter into this Lease, Tenant hereby represents and warrants that to its knowledge: (i) Tenant is not, nor is it owned or controlled directly or indirectly by, any person, group, entity or nation named on the Specially Designated Nationals and Blocked Persons List maintained by the Office of Foreign Assets Control of the United States Treasury (“OFAC”) (any such person, group, entity or nation being hereinafter referred to as a “Prohibited Person”); (ii) Tenant is not (nor is it owned, controlled, directly or indirectly, by any person, group, entity or nation which is) acting directly or indirectly for or on behalf of any Prohibited Person; and (iii) Tenant (and any person, group, or entity which Tenant controls, directly or indirectly) has not conducted nor will conduct business nor has engaged nor will engage in any transaction or dealing with any Prohibited Person that either may cause or causes Landlord to be in violation of any OFAC rule or regulation, including without limitation any assignment of this Lease or any subletting of all or any portion of the Premises. In connection with the foregoing, it is expressly understood and agreed that (x) any breach by Tenant of the foregoing representations and warranties shall be deemed an immediate Event of Default by Tenant under Section 7.1 of this Lease (without the benefit of notice or grace) and shall be covered by the indemnity provisions of Section 8.1 below, and (y) the representations and warranties contained in this subsection shall be continuing in nature and shall survive the expiration or earlier termination of this Lease.

 

ARTICLE VI
 CASUALTY AND TAKING

 

6.1                               Damage Resulting from Casualty.

 

6.1.1                     Landlord’s Restoration Estimate.  In the event of a fire or other casualty affecting the Building (“Casualty”), Landlord shall provide Tenant with written notice of Landlord’s reasonable estimate of the length of time necessary to repair or restore the Building

 

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from the time that repair work would commence (“Estimated Restoration Period”), which notice (the “Landlord’s Restoration Estimate”) shall be provided to Tenant no later than sixty (60) days after the occurrence of said Casualty.  Landlord’s Restoration Estimate shall include a written estimate from a registered architect, professional engineer or third party construction manager to be retained by Landlord of the cost to restore the Building to substantially the same condition existing immediately prior to such casualty.

 

6.1.2                     Landlord’s Termination Right Based upon Landlord’s Restoration Estimate.  If Landlord’s Restoration Estimate exceeds two hundred forty (240) days from the date of such Casualty, then Landlord may, at its election, terminate this Lease by notice given to Tenant at the time that Landlord gives Landlord’s Restoration Estimate to Tenant.  If Landlord exercises such termination right, then the term of the Lease shall terminate as of an effective date of termination set forth in Landlord’s termination notice, which effective termination date shall be not less than thirty (30) days nor more than forty-five (45) days after the date of notice of such termination.

 

6.1.3                     Tenant’s Termination Rights Based upon Landlord’s Restoration Estimate.  If: (i) a Casualty occurs prior to the last twenty-four (24) months of the expiration of the then current Term of this Lease, Landlord’s Restoration Estimate exceeds two hundred forty (240) days from the date of such Casualty, and Landlord does not exercise its termination right pursuant to Section 6.1.2, or (ii) a Casualty occurs during the last twenty-four (24) months of the expiration of the then current Term of the Lease, and Landlord’s Restoration Work exceeds ninety (90) days from the date of such Casualty, then Tenant may, at its election, terminate this Lease by notice given to Landlord on or before the date thirty (30) days after Tenant receives Landlord’s Restoration Estimate.  If Tenant exercises such termination right, then the term of the Lease shall terminate as of an effective date of termination set forth in Tenant’s termination notice, which effective termination date shall be not less than thirty (30) days nor more than forty-five (45) days after the date of notice of such termination.

 

6.1.4                     Landlord’s Termination Right based upon Decision of the Holder of any Mortgage or Underlying Lessor to Prohibit Use of Insurance Proceeds for Restoration Purposes.  If a bona fide third-party (i.e., not affiliated with Landlord or any of the Landlord Parties) holder of any mortgage which includes the Building as a part of the mortgaged premises or a bona fide third-party (i.e., not affiliated with Landlord or any of the Landlord Parties) lessor under any ground lease or underlying lease which affects the Building (each a “Holder”) shall prohibit Landlord from using the net insurance proceeds available for restoration of the Building (and/or the portions of the Site necessary for access to the Building), if the cost to restore the Building or such portions of the Site to substantially the same condition as existed immediately prior to the Casualty exceeds Twenty-Five Thousand and 00/100 Dollars ($25,000.00), and if Landlord elects not to perform such restoration using its own funds, then Landlord shall have the right to terminate this Lease upon written notice to given by Landlord to Tenant within thirty (30) days after Landlord is informed of such decision by such Holder, provided that Landlord also terminates all other leases in the affected portion of the Building as to which Landlord also has such a termination right.  If Landlord exercises such termination right, then the term of the Lease shall terminate as of an effective date of termination set forth in Landlord’s termination notice, which effective termination date shall be not less than thirty (30) days nor more than forty-five (45) days after the date of notice of such termination.

 

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6.1.5                     Landlord’s Restoration Obligations.

 

(a)                                 Unless terminated pursuant to the foregoing provisions, this Lease shall remain in full force and effect following any such damage subject, however, to the following provisions.  If the Building or the Site or any part thereof are damaged by a Casualty and this Lease is not so terminated, or Landlord or Tenant have no right to terminate this Lease, Landlord promptly after such damage and the determination of the net amount of insurance proceeds available shall use due diligence to restore the Premises and the Building in the event of damage thereto (excluding “Tenant’s Property” (as defined in Section 8.4 hereof), except as expressly provided in the immediately following paragraph of this Section 6.1) into proper condition for use and occupation and a just proportion of the Annual Fixed Rent, Tenant’s share of Operating Costs and Tenant’s share of real estate taxes according to the nature and extent of the injury to the Premises shall be abated until any such work to restore the Premises and Tenant’s access to substantially the same condition as existing immediately prior to such Casualty there to have been substantially completed, except for punch list items.  Notwithstanding anything herein contained to the contrary, provided that Landlord complies with its obligations to maintain the property insurance required to be maintained by Landlord pursuant to Section 8.12, Landlord shall not be obligated to expend for such repair and restoration any amount in excess of the net insurance proceeds (plus the amount of any deductible maintained by Landlord under such property insurance).

 

(b)                                 Notwithstanding the foregoing, if Landlord is proceeding with the restoration of the Building and the Premises in accordance with Section 6.1.5(a), Landlord shall also restore any alterations, additions or improvements within the Premises that are part of Tenant’s Property (x) which have previously been approved by Landlord in accordance with the terms and provisions of this Lease or which are existing in the Premises as of the date of this Lease, and (y) with respect to which Tenant has carried “all risk” insurance covering the loss or damage in accordance with Section 8.4 below and pays the proceeds of such insurance to Landlord upon the later to occur of:  (i) within thirty (30) days following Landlord’s written request) or (ii) upon Tenant’s actual receipt of the insurance proceeds; provided, however, that in no event shall Landlord be required to fund any insufficiency in the insurance proceeds (or equivalent amount) provided by Tenant with respect to such loss or damage (or to fund any of the costs of restoration set forth in clauses (x) and (y) above in the absence of any payment by Tenant).

 

6.1.6                     Tenant’s Termination Right based upon Delay in Substantial Completion of Restoration.  Unless such restoration is completed on or before the Outside Restoration Date, as hereinafter defined, Tenant, as its sole and exclusive remedy, shall have the right to terminate this Lease at any time after the Outside Restoration Date until the restoration is substantially completed, such termination to take effect as of the thirtieth (30th) day after the date of receipt by Landlord of Tenant’s termination notice, with the same force and effect as if such date were the date originally established as the expiration date hereof unless, within thirty (30) days after Landlord’s receipt of Tenant’s termination notice, such restoration is substantially completed, in which case Tenant’s notice of termination shall be of no force and effect and this Lease and the Lease Term shall continue in full force and effect. The “Outside Restoration Date” shall be defined as the later to occur of: (i) the last day of the Estimated Restoration Period set forth in Landlord’s Restoration Estimate, or (ii) the date nine (9) months after the Casualty or Taking in

 

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question, provided however, that the Outside Restoration Date shall be extended by any period of time (“Force Majeure Period”) where the delay in completion of such restoration work is due to Force Majeure, as defined hereinbelow, except that in no event shall the Force Majeure Period exceed sixty (60) days.

 

6.1.7                     Definition of Force Majeure.  When used herein, “Force Majeure” shall mean any prevention, delay or stoppage due to governmental regulation, strikes, lockouts, acts of God, acts of war, terrorists acts, civil commotions, unusual scarcity of or inability to obtain labor or materials, labor difficulties, fire or other casualty (including the time necessary to repair any damage caused thereby) or other causes reasonably beyond the control of the party whose obligations are affected by such occurrence.  For purposes of determining the Commencement Date, an event of Force Majeure that would delay anyone performing the initial build-out of the Premises shall be considered (such as, by way of example only, an extended power outage at the Building) an event of Force Majeure for the purposes hereof.

 

6.2                               Uninsured Casualty.

 

Notwithstanding anything to the contrary contained in this Lease, if the Building or the Premises shall be substantially damaged by fire or casualty as the result of a risk not covered by the forms of casualty insurance required to be maintained by Landlord pursuant to Section 8.12, and the Estimated Restoration Period set forth in Landlord’s Restoration Estimate exceeds ninety (90) days from the time that repair work would commence, Landlord may, at its election, terminate the Term of this Lease by notice to the Tenant given within sixty (60) days after such loss.  If Landlord shall give such notice, then this Lease shall terminate as of the date of such notice with the same force and effect as if such date were the date originally established as the expiration date hereof. If Landlord does not so terminate this Lease, then provisions of Section 6.1 shall apply.

 

6.3                               Rights of Termination for Taking.

 

6.3.1                     Mutual Termination Right.  If the entire Building, or such portion of the Premises or the common areas of the Building or the Property as to render the balance (if reconstructed to the maximum extent practicable in the circumstances) unsuitable for Tenant’s purposes, shall be taken by condemnation or right of eminent domain (a “Taking”), Landlord or Tenant shall have the right to terminate this Lease by notice to the other of its desire to do so, provided that such notice is given not later than thirty (30) days after Tenant has been deprived of possession. If either party shall give such notice, then this Lease shall terminate as of the date of such notice with the same force and effect as if such date were the date originally established as the expiration date hereof.

 

6.3.2                     Landlord’s Termination Right.  Further, if more than fifty percent (50%) of the Building shall be so taken that continued operation of the Building would be uneconomic as a result of the taking, and if Landlord also terminates the leases of all tenants of the Building who are similarly affected by such Taking and whose leases permit Landlord to exercise such a termination right, then Landlord shall have the right to terminate this Lease by giving notice to Tenant of Landlord’s desire to do so not later than thirty (30) days after Tenant has been deprived of possession of the Premises (or such portion thereof as may be taken). If Landlord shall give

 

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such notice, then this Lease shall terminate as of the date of such notice with the same force and effect as if such date were the date originally established as the expiration date hereof.

 

6.3.3                     Landlord’s Termination Right based upon Decision of the Holder of any Mortgage or Underlying Lessor to Prohibit Use of Taking Proceeds for Restoration Purposes.  If any Holder shall prohibit Landlord from using the net Taking proceeds available for restoration of the Building (and/or the portions of the Site necessary for access to the Building), and if the cost to restore the Building or such portions of the Site as nearly as possible to substantially the same condition as existed immediately prior to the Taking exceeds Twenty-Five Thousand and 00/100 Dollars ($25,000.00), and if Landlord elects not to perform such restoration using its own funds, then Landlord shall have the right to terminate this Lease upon written notice to given by Landlord to Tenant within thirty (30) days after Landlord is informed of such decision by such Holder, provided that Landlord also terminates all other leases in the affected portion of the Building as to which Landlord also has such a termination right.  If Landlord exercises such termination right, then the term of the Lease shall terminate as of an effective date of termination set forth in Landlord’s termination notice, which effective termination date shall be not less than thirty (30) days nor more than forty-five (45) days after the date of notice of such termination.

 

6.3.4                     Landlord’s Restoration Obligations.  Should any part of the Premises be so taken or condemned during the Lease Term hereof, and should this Lease not be terminated in accordance with the foregoing provisions, Landlord agrees that after the determination of the net amount of condemnation proceeds available to Landlord, Landlord shall use due diligence to put what may remain of the Premises into proper condition for use and occupation as nearly like the condition of the Premises prior to such taking as shall be practicable (excluding Tenant’s Property).  Notwithstanding the foregoing, Landlord shall not be obligated to expend for such repair and restoration any amount in excess of the net condemnation proceeds made available to it.

 

6.3.5                     Abatement of Rent.  If the Premises shall be affected by any exercise of the power of eminent domain, then the Annual Fixed Rent, Tenant’s share of operating costs and Tenant’s share of real estate taxes shall be justly and equitably abated and reduced according to the nature and extent of the loss of use thereof suffered by Tenant; and in case of a taking which permanently reduces the Rentable Floor Area of the Premises, a just proportion of the Annual Fixed Rent, Tenant’s share of operating costs and Tenant’s share of real estate taxes shall be abated for the remainder of the Lease Term.

 

6.4                               Award.

 

Landlord shall have and hereby reserves to itself any and all rights to receive awards made for damages to the Premises, the Buildings, the Property and the Site and the leasehold hereby created, or any one or more of them, accruing by reason of exercise of eminent domain or by reason of anything lawfully done in pursuance of public or other authority. Tenant hereby grants, releases and assigns to Landlord all Tenant’s rights to such awards, and covenants to execute and deliver such further assignments and assurances thereof as Landlord may from time to time request.

 

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Nothing contained herein shall be construed to prevent Tenant from prosecuting in any condemnation proceeding a claim for the value of any of Tenant’s usual trade fixtures installed in the Premises by Tenant at Tenant’s expense and for relocation and moving expenses.

 

ARTICLE VII
 DEFAULT

 

7.1                               Tenant’s Default.

 

(a)                                 If at any time subsequent to the date of this Lease any one or more of the following events (herein sometimes called an “Event of Default”) shall occur:

 

(i)                                     Tenant shall fail to pay the fixed rent, Additional Rent or other charges for which provision is made herein on or before the date on which the same become due and payable, and the same continues for ten (10) business days after receipt (as set forth in Section 9.11) of written notice by Tenant from Landlord thereof; or

 

(ii)                                  Landlord having rightfully given the notice specified in subdivision (i) above twice in any period of twelve (12) consecutive calendar months, Tenant shall thereafter in the same twelve (12) month period  fail to pay the fixed rent, Additional Rent or other charges within five (5) business days after the date on which the same become due and payable; or

 

(iii)                               Tenant shall assign its interest in this Lease or sublet any portion of the Premises in violation of the requirements of Sections 5.6 through 5.6.5 of this Lease; or

 

(iv)                              Tenant shall employ labor or contractors within the Premises that lead to disharmonious labor relations, and such failure continues for five (5) business days after receipt (as set forth in Section 9.11) of written notice by Tenant from Landlord thereof; or

 

(v)                                 Tenant shall neglect or fail to perform or observe any other covenant herein contained on Tenant’s part to be performed or observed and Tenant shall fail to remedy the same within thirty (30) days after written notice to Tenant specifying such neglect or failure, or if such failure is of such a nature that Tenant cannot reasonably remedy the same within such thirty (30) day period, Tenant shall fail to commence promptly to remedy the same and to prosecute such remedy to completion with diligence and continuity; or

 

(vi)                              Tenant’s leasehold interest in the Premises shall be taken on execution or by other process of law directed against Tenant; or

 

(vii)                           Tenant shall make an assignment for the benefit of creditors or shall file a voluntary petition in bankruptcy or shall be adjudicated bankrupt or insolvent, or shall file any petition or answer seeking any reorganization, arrangement, composition, readjustment, liquidation, dissolution or similar relief for itself under any present or future federal, state or other statute, law or regulation for the relief of debtors, or shall seek or consent to or acquiesce in the appointment of any trustee, receiver or liquidator of Tenant or of all or any substantial part of its properties, or shall admit in writing its inability to pay its debts generally as they become due; or

 

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(viii)                        A petition shall be filed against Tenant in bankruptcy or under any other law seeking any reorganization, arrangement, composition, readjustment, liquidation, dissolution, or similar relief under any present or future Federal, State or other statute, law or regulation and shall remain undismissed or unstayed for an aggregate of sixty (60) days (whether or not consecutive), or if any debtor in possession (whether or not Tenant) trustee, receiver or liquidator of Tenant or of all or any substantial part of its properties or of the Premises shall be appointed without the consent or acquiescence of Tenant and such appointment shall remain unvacated or unstayed for an aggregate of sixty (60) days (whether or not consecutive) then, and in any of said cases (notwithstanding any license of a former breach of covenant or waiver of the benefit hereof or consent in a former instance).

 

Landlord lawfully may, immediately or at any time thereafter, and without demand or further notice terminate this Lease by notice to Tenant, specifying a date not less than ten (10) days after the giving of such notice on which this Lease shall terminate, and this Lease shall come to an end on the date specified therein as fully and completely as if such date were the date herein originally fixed for the expiration of the Lease Term (Tenant hereby waiving any rights of redemption), and Tenant will then quit and surrender the Premises to Landlord, but Tenant shall remain liable as hereinafter provided.

 

(b)                                 If this Lease shall have been terminated as provided in this Article, then Landlord may, without notice, re- enter the Premises, in any manner permitted by law, and remove and dispossess Tenant and all other persons and any and all property from the same, as if this Lease had not been made, and Tenant hereby waives the service of notice of intention to re-enter or to institute legal proceedings to that end.

 

(c)                                  In the event that this Lease is terminated under any of the provisions contained in Section 7.1(a), Tenant covenants and agrees forthwith to pay and be liable for, on the days originally fixed herein for the payment thereof, amounts equal to the several installments of rent and other charges reserved as they would, under the terms of this Lease, become due if this Lease had not been terminated or if Landlord had not entered or re-entered, as aforesaid, and whether the Premises be relet or remain vacant, in whole or in part, or for a period less than the remainder of the Term, and for the whole thereof, but in the event the Premises be relet by Landlord, Tenant shall be entitled to a credit in the net amount of rent and other charges received by Landlord in reletting, after deduction of all expenses incurred in reletting the Premises (including, without limitation, remodeling costs, brokerage fees and the like), and in collecting the rent in connection therewith, in the following manner:

 

Amounts received by Landlord after reletting shall first be applied against such Landlord’s expenses incurred in good faith, until the same are recovered, and until such recovery, Tenant shall pay, as of each day when a payment would have fallen due under this Lease, the amount which Tenant is obligated to pay under the terms of this Lease (Tenant’s liability prior to any such reletting and such recovery not in any way to be diminished as a result of the fact that such reletting might be for a rent higher than the rent provided for in this Lease); when and if such expenses have been completely recovered, the amounts received from reletting by Landlord as have not previously been applied shall be credited against Tenant’s obligations as of each day when a payment would fall due under this Lease, and only the net amount thereof shall be payable by Tenant.  Further, amounts received by Landlord from such reletting for any

 

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period shall be credited only against obligations of Tenant allocable to such period, and shall not be credited against obligations of Tenant hereunder accruing subsequent or prior to such period; nor shall any credit of any kind be due for any period after the date when the term of this Lease is scheduled to expire according to its terms.

 

Landlord agrees to use reasonable efforts to relet the Premises after Tenant vacates the same in the event this Lease is terminated or Landlord re-enters the Premises based upon an Event of Default by Tenant hereunder. The marketing of the Premises in a manner similar to the manner in which Landlord markets other premises within Landlord’s control within the Building shall be deemed to have satisfied Landlord’s obligation to use “reasonable efforts” hereunder.  In no event shall Landlord be required to (i) solicit or entertain negotiations with any other prospective tenant for the Premises until Landlord obtains full and complete possession of the Premises (including, without limitation, the final and unappealable legal right to relet the Premises free of any claim of Tenant), (ii) relet the Premises before leasing other vacant space in the Building, (iii) lease the Premises for a rental less than the current fair market rent then prevailing for similar office space in the Building, or (iv) enter into a lease with any proposed tenant that does not have, in Landlord’s reasonable opinion, sufficient financial resources or operating experience to operate the Premises in a first-class manner.

 

(d)                                 (i)                                     In the alternative, Landlord may elect, by notice given to Tenant at any time after such termination and whether or not Landlord shall have collected any damages under subsection (c) above, but as liquidated final damages and in lieu of all other damages beyond the date of such notice, to require Tenant to pay such a sum as at the time of the giving of such notice represents (x) the amount of the excess, if any, of (a) the discounted present value, at a discount rate of six percent (6%), of the total rent and other charges which would have been payable by Tenant under this Lease from the date of such notice for what would be the then unexpired Lease Term if the Lease terms had been fully complied with by Tenant over and above (b) the discounted present value, at a discount rate of six percent (6%), of the total rent and other charges that would be received by Landlord if the Premises were relet at the time of such notice for the remainder of the Lease Term at the fair market value (including provisions regarding periodic increases in rent if such are applicable) prevailing at the time of such notice as reasonably determined by Landlord, plus (y) all reasonable out-of-pocket expenses which Landlord may have incurred in good faith with respect to the collection of such damages.

 

(ii)                                  For the purposes of this Article, if Landlord elects to require Tenant to pay damages in accordance with the immediately preceding paragraph, the total rent shall be computed by assuming that Tenant’s share of excess taxes, Tenant’s share of excess operating costs and Tenant’s share of excess electrical costs would be, for the balance of the unexpired Term from the date of such notice, the amount thereof (if any) for the immediately preceding annual period payable by Tenant to Landlord.

 

(e)                                  In case of any Event of Default, re-entry, dispossession by summary proceedings or otherwise, Landlord may (i) re-let the Premises or any part or parts thereof, either in the name of Landlord or otherwise, for a term or terms which may at Landlord’s option be equal to or less than or exceed the period which would otherwise have constituted the balance of the Term of this Lease and may grant concessions, abatements or free rent to the extent that Landlord considers advisable or necessary to re-let the same and (ii) may make such alterations,

 

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repairs and decorations in the Premises as Landlord in its sole, but good faith, judgment considers advisable or necessary for the purpose of reletting the Premises; and the making of such alterations, repairs and decorations shall not operate or be construed to release Tenant from liability hereunder as aforesaid. Landlord shall in no event be liable in any way whatsoever for failure to re-let the Premises, or, in the event that the Premises are re-let, for failure to collect the rent under re-letting.  Tenant hereby expressly waives any and all rights of redemption granted by or under any present or future laws in the event of Tenant being evicted or dispossessed, or in the event of Landlord obtaining possession of the Premises, by reason of the violation by Tenant of any of the covenants and conditions of this Lease.

 

(f)                                   The specified remedies to which Landlord may resort hereunder are not intended to be exclusive of any remedies or means of redress to which Landlord may at any time be entitled lawfully, and Landlord may invoke any remedy (including the remedy of specific performance) allowed at law or in equity as if specific remedies were not herein provided for. Further, nothing contained in this Lease shall limit or prejudice the right of Landlord to prove for and obtain in proceedings for bankruptcy or insolvency by reason of the termination of this Lease, an amount equal to the maximum allowed by any statute or rule of law in effect at the time when, and governing the proceedings in which, the damages are to be proved, whether or not the amount be greater, equal to, or less than the amount of the loss or damages referred to above.

 

7.2                               Landlord’s Default.

 

(a)                                 Landlord shall in no event be in default in the performance of any of Landlord’s obligations hereunder unless and until Landlord shall have failed to perform such obligations within thirty (30) days, or if such default is of such a character that cannot be reasonably cured within thirty (30) days then within such additional time as is reasonably required to correct any such default provided Landlord has commenced to cure such default within the thirty (30) day period and diligently pursues the same to completion, after notice by Tenant to Landlord properly specifying wherein Landlord has failed to perform any such obligation.

 

(b)                                 Tenant’s Limited Self-Help Right.  Subject to the foregoing, with respect to any Landlord Self-Help Defaults, as hereinafter defined, if Landlord fails to cure such Landlord Self-Help Default on or before the date thirty (30) days after Landlord’s receipt (as set forth in Section 9.11) of written notice from Tenant advising Landlord of such default and that Tenant intends to exercise its rights pursuant to this Section 7.2(b) if Landlord does not cure such default, then Tenant shall have the right to cure such Landlord Self-Help Default at Landlord’s cost.  A “Landlord’s Self-Help Default” shall be defined as failure by Landlord to perform Landlord’s obligation to clean the Premises pursuant to Exhibit C and/or to perform any of Landlord’s service, maintenance or repair obligations under the Lease within the Premises, excluding, in any event, any maintenance and repair obligations, the cure or performance of which would materially adversely affect any other tenant in the Building.

 

(c)                                  The Tenant shall not assert any right to deduct the cost of repairs or any monetary claim against the Landlord from rent thereafter due and payable, but shall look solely to the Landlord for satisfaction of such claim.

 

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(d)                                 In the event Landlord fails to reimburse Tenant for the cost of any such repairs within thirty (30) days after written demand therefor, then Tenant may provide notice of such failure to Landlord (“Payment Failure Notice”).  The Payment Failure Notice shall state in bold face, all capital letters at the top thereof: “WARNING:  PAYMENT FAILURE NOTICE.  IF LANDLORD FAILS TO REIMBURSE TENANT FOR THE COST OF THE HEREIN DESCRIBED REPAIRS WITHIN TEN (10) BUSINESS DAYS AFTER RECEIPT OF THIS NOTICE, TENANT MAY HAVE OFFSET RIGHTS UNDER THE LEASE.”  If Landlord does not make the payment in question within ten (10) business days after receipt of the Payment Failure Notice, Tenant will have the right to deduct any such amounts owing from Landlord from the next installment(s) of Yearly Rent due Landlord under this Lease, provided that the amount that may be so offset against any one such installment shall not exceed ten percent (10%) of the total amount of such installment.

 

ARTICLE VIII
 INSURANCE AND INDEMNITY

 

8.1                               Indemnity.

 

(a)                                 Tenant’s Indemnity.  To the fullest extent permitted by law, Tenant waives any right to contribution against the Landlord Parties (as hereinafter defined) and agrees to indemnify and save harmless the Landlord Parties from and against all claims of whatever nature by a third party arising from or claimed to have arisen from (i) any act, omission or negligence of the Tenant Parties (as hereinafter defined); (ii) any accident, injury or damage whatsoever caused to any person, or to the property of any person, occurring in or about the Premises from the earlier of (A) the date on which any Tenant Party first enters the Premises for any reason or (B) the Commencement Date, and thereafter throughout and until the end of the Lease Term, and after the end of the Lease Term for so long after the end of the Lease Term as Tenant or anyone acting by, through or under Tenant is in occupancy of the Premises or any portion thereof; or (iii) any accident, injury or damage whatsoever occurring outside the Premises but within the Building, or on common areas within the Office Park, to the extent such accident, injury or damage results, or is claimed to have resulted, from any act, omission or negligence on the part of any of the Tenant Parties. Tenant shall pay such indemnified amounts as they are incurred by the Landlord Parties. This indemnification shall not be construed to deny or reduce any other rights or obligations of indemnity that any of the Landlord Parties may have under this Lease or the common law. Notwithstanding anything contained herein to the contrary, Tenant shall not be obligated to indemnify a Landlord Party for any claims to the extent that such Landlord Party’s damages result from such Landlord Party’s negligence or willful misconduct.

 

(b)                                 Breach.  In the event that Tenant breaches any of its indemnity obligations hereunder: (i) Tenant shall pay to the Landlord Parties all liabilities, loss, cost, or out-of-pocket expense (including reasonable attorney’s fees) incurred as a result of said breach; and (ii) the Landlord Parties may deduct and offset from any amounts due to Tenant under this Lease any amounts owed by Tenant pursuant to this Section 8.1(b).

 

(c)                                  No limitation.  The indemnification obligations under this Section 8.1 shall not be limited in any way by any limitation on the amount or type of damages, compensation or benefits payable by or for Tenant or any subtenant or other occupant of the

 

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Premises under workers’ compensation acts, disability benefit acts, or other employee benefit acts. Tenant waives any immunity from or limitation on its indemnity or contribution liability to the Landlord Parties based upon such acts.

 

(d)                                 Subtenants and other occupants.  Tenant shall require its subtenants and other occupants of the Premises to provide similar indemnities to the Landlord Parties in a form acceptable to Landlord.

 

(e)                                  Survival.  The terms of this Section 8.1 shall survive any termination or expiration of this Lease.

 

(f)                                   Costs.  The foregoing indemnity and hold harmless agreement shall include indemnity for all costs, expenses and liabilities (including, without limitation, reasonable attorneys’ fees and disbursements) incurred by the Landlord Parties in connection with any such claim or any action or proceeding brought thereon, and the defense thereof. In addition, in the event that any action or proceeding shall be brought against one or more Landlord Parties by reason of any such claim, Tenant, upon request from the Landlord Party, shall resist and defend such action or proceeding on behalf of the Landlord Party by counsel appointed by Tenant’s insurer (if such claim is covered by insurance without reservation) or otherwise by counsel reasonably satisfactory to the Landlord Party. The Landlord Parties shall not be bound by any compromise or settlement of any such claim, action or proceeding without the prior written consent of such Landlord Parties.

 

(g)                                  Landlord Parties and Tenant Parties.  For the purposes of this Lease, the term “Landlord Party” or “Landlord Parties” shall mean Landlord, any affiliate of Landlord, Landlord’s managing agents for the Building, each mortgagee (if any), each ground lessor (if any), and each of their respective direct or indirect partners, officers, shareholders, directors, members, trustees, beneficiaries, servants, employees, principals, contractors, licensees, agents or representatives. For the purposes of this Lease, the term “Tenant Party” or “Tenant Parties” shall mean Tenant, any affiliate of Tenant, any permitted subtenant or any other permitted occupant of the Premises, and each of their respective direct or indirect partners, officers, shareholders, directors, members, trustees, beneficiaries, servants, employees, principals, contractors, licensees, agents, invitees or representatives.

 

8.2                               Tenant’s Risk.

 

Tenant agrees to use and occupy the Premises, and to use such other portions of the Building, the Site and the Office Park as Tenant is given the right to use by this Lease at Tenant’s own risk.  The Landlord Parties shall not be liable to the Tenant Parties for any damage, injury, loss, compensation, or claim (including, but not limited to, claims for the interruption of or loss to a Tenant Party’s business) based on, arising out of or resulting from any cause whatsoever, including, but not limited to, repairs to any portion of the Premises, the Building, the Property or the Office Park, any fire, robbery, theft, mysterious disappearance, or any other crime or casualty, the actions of any other tenants of the Office Park or of any other person or persons, or any leakage in any part or portion of the Premises or the Building or the Property, or from water, rain or snow that may leak into, or flow from any part of the Premises or the Building or the Property, or from drains, pipes or plumbing fixtures in the Building or the

 

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Property, except, subject to Section 8.12, to the extent arising from the negligence or willful misconduct of any of the Landlord Parties.  Any goods, property or personal effects stored or placed in or about the Premises shall be at the sole risk of the Tenant Party, and neither the Landlord Parties nor their insurers shall in any manner be held responsible therefor, except, subject to Section 8.12, to the extent any loss thereof or damage thereto arises from the negligence or willful misconduct of any of the Landlord Parties. The Landlord Parties shall not be responsible or liable to a Tenant Party, or to those claiming by, through or under a Tenant Party, for any loss or damage that may be occasioned by or through the acts or omissions of persons occupying adjoining premises or any part of the premises adjacent to or connecting with the Premises or any part of the Building or otherwise. The provisions of this section shall be applicable to the fullest extent permitted by law, and until the expiration or earlier termination of the Lease Term, and during such further period as Tenant may use or be in occupancy of any part of the Premises or of the Building.

 

8.3                               Tenant’s Commercial General Liability Insurance.

 

Tenant agrees to maintain in full force on or before the earlier of (i) the date on which any Tenant Party first enters the Premises for any reason or (ii) the Commencement Date, and thereafter throughout and until the end of the Lease Term, and after the end of the Lease Term for so long as Tenant or anyone acting by, through or under Tenant is in occupancy of the Premises or any portion thereafter, a policy of commercial general liability insurance, on an occurrence basis, issued on a form at least as broad as Insurance Services Office (“ISO”) Commercial General Liability Coverage “occurrence” form CG 00 01 12/07 or another Commercial General Liability “occurrence” form providing equivalent coverage. Such insurance shall include contractual liability coverage. The minimum limits of liability of such insurance shall be Five Million Dollars ($5,000,000.00) per occurrence, which may be satisfied through a combination of primary and excess/umbrella insurance.  In addition, in the event Tenant hosts a function in the Premises, Tenant agrees to obtain, and cause any persons or parties providing services for such function to obtain, the appropriate insurance coverages as determined by Landlord (including liquor liability coverage, if applicable) and provide Landlord with evidence of the same. The limits of insurance required under this Lease may be obtained by using commercial umbrella insurance.

 

8.4                               Tenant’s Property Insurance.

 

Tenant shall maintain at all times during the Term of the Lease, and during such earlier time as Tenant may be performing work in or to the Premises or have property, fixtures, furniture, equipment, machinery, goods, supplies, wares or merchandise on the Premises, and continuing thereafter so long as Tenant is in occupancy of any part of the Premises, business interruption insurance and insurance against loss or damage covered by the so-called “all risk” type insurance coverage with respect to Tenant’s property, fixtures, furniture, equipment, machinery, goods, supplies, wares and merchandise, and all alterations, improvements and other modifications made by or on behalf of the Tenant in the Premises (except to the extent paid for by Landlord in connection with this Lease) or existing in the Premises as of the date of this Lease, and other property of Tenant located at the Premises (collectively “Tenant’s Property”). The business interruption insurance required by this Section 8.4 shall be in minimum amounts typically carried by prudent tenants engaged in similar operations, but in no event shall be in an

 

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amount less than the Annual Fixed Rent then in effect during any year during the Term, plus any Additional Rent due and payable for the immediately preceding year during the Term. The “all risk” insurance required by this section shall be in an amount at least equal to the full replacement cost of Tenant’s Property. In addition, during such time as Tenant is performing work in or to the Premises, Tenant, at Tenant’s expense, shall also maintain, or shall cause its contractor(s) to maintain, builder’s risk insurance for the full insurable value of such work. Landlord and such additional persons or entities as Landlord may reasonably request shall be named as loss payees, as their interests may appear, on the policy or policies required by this Lease. In the event of loss or damage covered by the “all risk” insurance required by this Lease, the responsibilities for repairing or restoring the loss or damage shall be determined in accordance with Article VI. To the extent that Landlord is obligated to pay for the repair or restoration of the loss or damage covered by the policy, Landlord shall be paid the proceeds of the “all risk” insurance covering the loss or damage. To the extent Tenant is obligated to pay for the repair or restoration of the loss or damage, covered by the policy, Tenant shall be paid the proceeds of the “all risk” insurance covering the loss or damage. If both Landlord and Tenant are obligated to pay for the repair or restoration of the loss or damage covered by the policy, the insurance proceeds shall be paid to each of them in the pro rata proportion of their obligations to repair or restore the loss or damage. If the loss or damage is not repaired or restored (for example, if the Lease is terminated pursuant to Article VI), the insurance proceeds shall be paid to Landlord and Tenant in the pro rata proportion of their relative contributions to the cost of the leasehold improvements covered by the policy.

 

8.5                               Tenant’s Other Insurance.

 

Tenant agrees to maintain in full force on or before the earlier of (i) the date on which any Tenant Party first enters the Premises for any reason or (ii) the Commencement Date, and thereafter throughout the end of the Term, and after the end of the Term for so long after the end of the Term as Tenant or anyone acting by, through or under Tenant is in occupancy of the Premises or any portion thereafter, (1) comprehensive automobile liability insurance (covering any automobiles owned or operated by Tenant at the Site) issued on a form at least as broad as ISO Business Auto Coverage form CA 00 01 07 97 or other form providing equivalent coverage; (2) worker’s compensation insurance or participation in a monopolistic state workers’ compensation fund; and (3) employer’s liability insurance or (in a monopolistic state) Stop Gap Liability insurance. Such automobile liability insurance shall be in an amount not less than One Million Dollars ($1,000,000) for each accident. Such worker’s compensation insurance shall carry minimum limits as defined by the law of the jurisdiction in which the Premises are located (as the same may be amended from time to time). Such employer’s liability insurance shall be in an amount not less than One Million Dollars ($1,000,000) for each accident, One Million Dollars ($1,000,000) disease-policy limit, and One Million Dollars ($1,000,000) disease-each employee.

 

8.6                               Requirements for Tenant’s Insurance.

 

All insurance required to be maintained by Tenant pursuant to this Lease shall be maintained with responsible companies that are admitted to do business, and are in good standing in the Commonwealth of Massachusetts and that have a rating of at least “A-” and are within a financial size category of not less than “Class VIII” in the most current Best’s Key Rating Guide or such similar rating as may be reasonably selected by Landlord. All such

 

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insurance shall: (1) be reasonably acceptable in form and content to Landlord; (2) be primary and noncontributory (including all primary and excess/umbrella policies); and (3) contain an endorsement prohibiting cancellation, failure to renew, reduction of amount of insurance, or change in coverage without the insurer first giving Landlord thirty (30) days’ prior written notice (by certified or registered mail, return receipt requested, or by fax or email) of such proposed action.  No such policy shall contain any deductible or self-insured retention greater than Twenty-Five Thousand and 00/100 Dollars ($25,000.00) with respect to liability insurance or One Hundred Thousand Dollars ($100,000.00) with respect to property insurance.  Any deductibles and such self-insured retentions shall be deemed to be “insurance” for purposes of the waiver in Section 8.13 below. Landlord reserves the right from time to time to require Tenant to obtain higher minimum amounts of insurance based on such limits as are customarily carried with respect to similar uses in similar properties in the area in which the Premises are located. The minimum amounts of insurance required by this Lease shall not be reduced by the payment of claims or for any other reason. In the event Tenant shall fail to obtain or maintain any insurance meeting the requirements of this Article, or to deliver such policies or certificates as required by this Article, Landlord may, at its option, on five (5) days notice to Tenant, procure such policies for the account of Tenant, and the cost thereof shall be paid to Landlord within five (5) days after delivery to Tenant of bills therefor.

 

8.7                               Additional Insureds.

 

To the fullest extent permitted by law, the commercial general liability and auto insurance carried by Tenant pursuant to this Lease, and any additional liability insurance carried by Tenant pursuant to Section 8.5 of this Lease or any other provision of this Lease, shall name Landlord, Landlord’s managing agent, and such other persons as Landlord may reasonably request from time to time as additional insureds with respect to liability arising out of or related to this Lease or the operations of Tenant (collectively “Additional Insureds”). Such insurance shall provide primary coverage without contribution from any other insurance carried by or for the benefit of Landlord, Landlord’s managing agent, or other Additional Insureds. Such insurance shall also waive any right of subrogation against each Additional Insured. For the avoidance of doubt, each primary policy and each excess/umbrella policy through which Tenant satisfies its obligations under this Section 8.7 must provide coverage to the Additional Insureds that is primary and non-contributory.

 

8.8                               Certificates of Insurance.

 

On or before the earlier of (i) the date on which any Tenant Party first enters the Premises for any reason or (ii) the Commencement Date, Tenant shall furnish Landlord with certificates evidencing the insurance coverage required by this Lease, and renewal certificates shall be furnished to Landlord at least annually thereafter, and at least thirty (30) days prior to the expiration date of each policy for which a certificate was furnished (acceptable forms of such certificates for liability and property insurance, respectively, as of the date hereof, are attached as Exhibit I, however, other forms of certificates may satisfy the requirements of this Section 8.8). Upon request by Landlord, a true and complete copy of any insurance policy required by this Lease shall be delivered to Landlord within ten (10) days following Landlord’s request.

 

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8.9                               Subtenants and Other Occupants.

 

Tenant shall require its subtenants and other occupants of the Premises to provide written documentation evidencing the obligation of such subtenant or other occupant to indemnify the Landlord Parties to the same extent that Tenant is required to indemnify the Landlord Parties pursuant to Section 8.1 above, and to maintain insurance that meets the requirements of this Article, and otherwise to comply with the requirements of this Article. Tenant shall require all such subtenants and occupants to supply certificates of insurance evidencing that the insurance requirements of this Article have been met and shall forward such certificates to Landlord upon Landlord’s written request therefor.

 

8.10                        No Violation of Building Policies.

 

Tenant shall not knowingly commit or permit any violation of the policies of fire, boiler, sprinkler, water damage or other insurance covering the Property and/or the fixtures, equipment and property therein carried by Landlord, or knowingly do or permit anything to be done, or keep or permit anything to be kept, in the Premises, which in case of any of the foregoing (i) would result in termination of any such policies, (ii) would materially and adversely affect Landlord’s right of recovery under any of such policies, or (iii) would result in reputable and independent insurance companies refusing to insure the Property or the property of Landlord in amounts reasonably satisfactory to Landlord.

 

8.11                        Tenant to Pay Premium Increases.

 

If, because of anything done, caused or permitted to be done, or omitted by Tenant (or its subtenant or other occupants of the Premises), the rates for liability, fire, boiler, sprinkler, water damage or other insurance on the Office Park or on the Property and equipment of Landlord or any other tenant or subtenant in the Building shall be higher than they otherwise would be, Tenant shall reimburse Landlord for the additional insurance premiums thereafter paid by Landlord which shall have been charged because of the aforesaid reasons, such reimbursement to be made from time to time on Landlord’s demand.  Landlord agrees, however, that the use of the Premises for uses which are found in typical executive business offices shall not be deemed to require Tenant to make any payment of additional insurance premiums pursuant to this Section 8.11 (the parties hereby agreeing that this sentence is intended to relieve Tenant of its obligation, under this Section 8.11, to reimburse Landlord for additional insurance premiums based upon the type of use, rather than the actual manner of use, of the Premises).

 

8.12                        Landlord’s Insurance and Indemnity.

 

(a)                                 Required insurance.  Landlord shall maintain insurance against loss or damage with respect to the Building on an “all risk” type insurance form, with customary exceptions, subject to such deductibles and self insured retentions as Landlord may determine, in an amount equal to at least the replacement value of the Building. Landlord shall also maintain such insurance with respect to any improvements, alterations, and fixtures of Tenant located at the Premises to the extent paid for by Landlord. The cost of such insurance shall be treated as a part of Landlord’s Operating Expenses. Such insurance shall be maintained with an insurance company selected by Landlord. Payment for losses thereunder shall be made solely to Landlord.

 

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(b)                                 Optional insurance.  Landlord may maintain such additional insurance with respect to the Building and the Property, including, without limitation, earthquake insurance, terrorism insurance, flood insurance, liability insurance and/or rent insurance, as Landlord may in its commercially reasonable discretion elect. Landlord may also maintain such other insurance as may from time to time be required by the holder of any mortgage on the Building or Property. The cost of all such additional insurance shall also be part of the Landlord’s Operating Expenses.

 

(c)                                  Blanket and self-insurance.  The provisions of this Section 8.12(c) shall be in force and effect only so long as the holder of Landlord’s interest is an entity affiliated with Boston Properties Limited Partnership.  Any or all of Landlord’s insurance may be provided by blanket coverage maintained by Landlord or any affiliate of Landlord under its insurance program for its portfolio of properties, or by Landlord or any affiliate of Landlord under a program of self-insurance (any such coverages or insurance programs being referred to herein as “Landlord Self-Insurance”), and in such event Landlord’s Operating Expenses shall, subject to the next following sentence, include the portion of the cost of blanket insurance or self-insurance that is allocated to the Building.  Landlord hereby agrees, however, that: (i) where Landlord Self-Insurance covers risks which can be insured under insurance policies which are then generally available, the cost included in Landlord’s Operating Expenses on account of such Landlord Self-Insurance shall not exceed competitive rates, and (ii) where Landlord Self-Insurance covers risks which cannot be insured under insurance policies which are then generally available, then cost included in Landlord’s Operating Expenses on account of such Landlord Self-Insurance shall be a reasonable cost.

 

(d)                                 No obligation.  Landlord shall not be obligated to insure, and shall not assume any liability of risk of loss for, Tenant’s Property, including any such property or work of Tenant’s subtenants or occupants. Landlord will also have no obligation to carry insurance against, nor be responsible for, any loss suffered by Tenant, subtenants or other occupants due to interruption of Tenant’s or any subtenant’s or occupant’s business.

 

(e)                                  Standards Applicable to Landlord’s Insurers.  Except for insurance coverage which Landlord elects, pursuant to Section 8.12(c), to maintain by blanket coverage or by self-insurance, any insurance required to be maintained by Landlord pursuant to this Lease shall be maintained with responsible companies that are admitted to do business, and are in good standing in the Commonwealth of Massachusetts and that have a rating of at least “A-” and are within a financial size category of not less than “Class VIII” in the most current Best’s Key Rating Guide or such similar rating.

 

(f)                                   Landlord’s Indemnity.  Subject to the limitations in Section 9.3.2 and in Section 8.2 and Section 8.13 of this Article, Landlord agrees to indemnify and save harmless Tenant from and against any claim by a third party arising from any injury to any person, to the extent not resulting from any act, omission, fault, negligence or misconduct of Tenant or its contractors, licensees, invitees, agents, servants or employees occurring in the Premises or in the Office Park after the date that possession of the Premises is first delivered to Tenant and until the expiration or earlier termination of the Lease Term, to the extent such injury results from the negligence or willful misconduct of Landlord or Landlord’s employees; provided, however, that in no event shall the aforesaid indemnity render Landlord responsible or liable for any loss or

 

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damage to fixtures, personal property or other property of Tenant, and Landlord shall in no event be liable for any indirect or consequential damages.  Tenant shall provide notice of any such third party claim to Landlord as soon as practicable.  The foregoing indemnity and hold harmless agreement shall include indemnity for all costs, expenses and liabilities (including, without limitation, reasonable attorneys’ fees and disbursements) incurred by Tenant in connection with any such claim or any action or proceeding brought thereon, and the defense thereof.  In addition, in the event that any action or proceeding shall be brought against Tenant by reason of any such claim, Landlord, upon request from Tenant, shall resist and defend such action or proceeding on behalf of Tenant by counsel appointed by Landlord’s insurer (if such claim is covered by insurance without reservation) or otherwise by counsel reasonably satisfactory to Tenant. Tenant shall not be bound by any compromise or settlement of any such claim, action or proceeding without the prior written consent of Tenant.

 

8.13                        Waiver of Subrogation.

 

To the fullest extent permitted by law, the parties hereto waive and release any and all rights of recovery against the other, and agree not to seek to recover from the other or to make any claim against the other, and in the case of Landlord, against all Tenant Parties, and in the case of Tenant, against all Landlord Parties, for any loss or damage incurred by the waiving/releasing party to the extent such loss or damage: (i) is insured under any insurance policy required by this Lease, or (ii) which would have been so insured had the party carried the insurance it was required to carry hereunder.  Tenant shall obtain from its subtenants and other occupants of the Premises a similar waiver and release of claims against any or all of Tenant or Landlord. In addition, the parties hereto (and in the case of Tenant, its subtenants and other occupants of the Premises) shall procure an appropriate clause in, or endorsement on, any insurance policy required by this Lease pursuant to which the insurance company waives subrogation. The insurance policies required by this Lease shall contain no provision that would invalidate or restrict the parties’ waiver and release of the rights of recovery in this section. The parties hereto covenant that no insurer shall hold any right of subrogation against the parties hereto by virtue of such insurance policy.

 

8.14                        Tenant’s Work.

 

During such times as Tenant is performing work or having work or services performed in or to the Premises, Tenant shall require its contractors, and their subcontractors of all tiers, to obtain and maintain commercial general liability, automobile, workers compensation, employer’s liability, builder’s risk, and equipment/property insurance in such amounts and on such terms as are customarily required of such contractors and subcontractors on similar projects. The amounts and terms of all such insurance are subject to Landlord’s written approval, which approval shall not be unreasonably withheld, conditioned, or delayed. The commercial general liability and auto insurance carried by Tenant’s contractors and their subcontractors of all tiers pursuant to this Section 8.14 shall include Landlord, Landlord’s managing agent, and such other persons as Landlord may reasonably request from time to time as additional insureds with respect to liability arising out of or related to their work or services (collectively “Additional Insureds”). Such insurance shall provide primary coverage without contribution from any other insurance carried by or for the benefit of Landlord, Landlord’s managing agent, or other Additional Insureds. Such insurance shall also waive any right of subrogation against each Additional

 

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Insured. Tenant shall obtain and submit to Landlord, prior to the earlier of (i) the entry onto the Premises by such contractors or subcontractors or (ii) commencement of the work or services, certificates of insurance evidencing compliance with the requirements of this Section 8.14.

 

ARTICLE IX
 MISCELLANEOUS PROVISIONS

 

9.1                               Waiver.

 

No waiver by Landlord of any condition of this Lease, nor any failure by Tenant to deliver any security deposit, letter of credit, pre-paid rent, financial information, guaranty or other item required upon the execution and delivery of this Lease, shall be construed as excusing satisfaction of any such condition or the delivery of any such item by Tenant, and Landlord reserves the right to declare the failure of Tenant to satisfy any such condition or deliver any such item an Event of Default under this Lease. Further, no waiver at any time of any of the provisions hereof by Landlord or Tenant shall be construed as a waiver of any of the other provisions hereof, and a waiver at any time of any of the provisions hereof shall not be construed as a waiver at any subsequent time of the same provisions. The consent or approval of Landlord or Tenant to or of any action by the other requiring such consent or approval shall not be construed to waive or render unnecessary Landlord’s or Tenant’s consent or approval to or of subsequent similar act by the other.

 

No payment by either party, or acceptance by the other, of a lesser amount than shall be due shall be treated otherwise than as a payment on account. The acceptance by either party of a check for a lesser amount with an endorsement or statement thereon, or upon any letter accompanying such check, that such lesser amount is payment in full, shall be given no effect, and such check may be accepted without prejudice to any other rights or remedies which the payee may have.

 

9.2                               Cumulative Remedies.

 

Except as expressly provided in this Lease, the specific remedies to which either party may resort under the terms of this Lease are cumulative and are not intended to be exclusive of any other remedies or means of redress to which such party may be lawfully entitled in case of any breach by the other party of any provisions of this Lease.  In addition to the other remedies provided in this Lease, each party shall be entitled to the restraint by injunction of the violation or attempted or threatened violation of any of the covenants, conditions or provisions of this Lease or to a decree compelling specific performance of any such covenants, conditions or provisions.

 

9.3                               Quiet Enjoyment.

 

9.3.1                     This Lease is subject and subordinate to all matters of record.  Landlord hereby represents to Tenant that, as of the Execution Date of this Lease, there are no matters of record which will prohibit or materially restrict or impair Tenant’s use of the Premises and common areas for the Permitted Use, and general business offices as and to the extent contemplated by this Lease.  Landlord agrees that, so long as no Event of Default exists and is continuing on the part of Tenant, Tenant shall lawfully, peaceably and quietly have, hold, occupy

 

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and enjoy the Premises during the Term (exclusive of any period during which Tenant is holding over after the expiration or termination of this Lease without the consent of Landlord), without hindrance or ejection by any persons claiming by, through or under Landlord, subject, however, to the terms of this Lease; the foregoing covenant of quiet enjoyment is in lieu of any other covenant, express or implied; and it is understood and agreed that this covenant and any and all other covenants of Landlord contained in this Lease shall be binding upon Landlord and Landlord’s successors, including ground or master lessees, only with respect to breaches occurring during Landlord’s or Landlord’s successors’ respective ownership of Landlord’s interest hereunder, as the case may be.

 

9.3.2                     Further, Tenant specifically agrees to look solely to Landlord’s then equity interest in the Office Park at the time owned, including the undistributed rents, profits or proceeds thereof, or in which Landlord holds an interest as ground lessee, for recovery of any judgment from Landlord; it being specifically agreed that neither Landlord (original or successor), nor any beneficiary of any trust of which any person holding Landlord’s interest is trustee, nor any member, manager, partner, director or stockholder, nor Landlord’s managing agent, shall ever be personally liable for any such judgment, or for the payment of any monetary obligation to Tenant. The provision contained in the foregoing sentence is not intended to, and shall not, limit any right that Tenant might otherwise have to obtain injunctive relief against Landlord or Landlord’s successors in interest, or any action not involving the personal liability of Landlord (original or successor), any successor trustee to the persons named herein as Landlord, or any beneficiary of any trust of which any person holding Landlord’s interest is trustee, or of any manager, member, partner, director or stockholder of Landlord or of Landlord’s managing agent to respond in monetary damages from Landlord’s assets other than Landlord’s equity interest aforesaid in the Building, but in no event shall Tenant have the right to terminate or cancel this Lease or to withhold rent or to set-off any claim or damages against rent as a result of any default by Landlord or breach by Landlord of its covenants or any warranties or promises hereunder, except in the case of a wrongful eviction of Tenant from the demised premises (constructive or actual) by Landlord continuing after notice to Landlord thereof and a reasonable opportunity for Landlord to cure the same.

 

9.3.3                     Notwithstanding anything contained herein to the contrary, in no event shall: (i) Landlord or the Landlord Parties ever be liable to Tenant for any indirect, incidental, punitive or consequential damages or loss of profits or the like, or (ii) Tenant or the Tenant Parties ever be liable to Landlord for any indirect, incidental, punitive or consequential damages or loss of profits or the like, provided however, that nothing in this Section 9.3.3(ii) shall affect or limit any damages, liability or obligations which Tenant has based upon any breach by Tenant of its obligations under Section 9.17 of the Lease.

 

9.3.4                     In the event that either party shall be determined to have acted unreasonably in withholding any consent or approval under this Lease, the sole recourse and remedy of the other party in respect thereof shall be to specifically enforce the approving party’s obligation to grant such consent or approval, and in no event shall the approving party be responsible for any damages of whatever nature in respect of its failure to give such consent or approval nor shall the same otherwise affect the obligations of the other under this Lease or act as any termination of this Lease.

 

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9.4                               Notice to Mortgagee and Ground Lessor.

 

After receiving written notice from any person, firm or other entity that it holds a mortgage which includes the Premises as part of the mortgaged premises, or that it is the ground lessor under a lease with Landlord, as ground lessee, which includes the Premises as a part of the demised premises, no notice from Tenant to Landlord claiming a default by Landlord shall be effective against such holder or ground lessor unless and until a copy of the same is given to such holder or ground lessor, and, with respect to defaults of Landlord which may be the basis for Tenant to terminate this Lease, the curing of any of Landlord’s defaults by such holder or ground lessor within the cure periods afforded to Landlord hereunder (except that such cure period shall be extended for an additional ninety (90) days if such mortgagee or ground lessor elects to obtain possession) shall be treated as performance by Landlord. For the purposes of this Section 9.4 or Section 9.14, the term “mortgage” includes a mortgage on a leasehold interest of Landlord (but not one on Tenant’s leasehold interest). If any mortgage is listed on Exhibit J, then the same shall constitute notice from the holder of such mortgage for the purposes of this Section 9.4. Further no Annual Fixed Rent or Additional Rent may be paid by Tenant more than thirty (30) days in advance except with the prior written consent of all holder(s) of such mortgages and ground leases, and any such payment without such consent shall not be binding on such holder(s).

 

9.5                               Assignment of Rents.

 

With reference to any assignment by Landlord of Landlord’s interest in this Lease, or the rents payable hereunder, conditional in nature or otherwise, which assignment is made to the holder of a mortgage or ground lease on property which includes the Premises, Tenant agrees:

 

(a)                                 That the execution thereof by Landlord, and the mere acceptance thereof by the holder of such mortgage or the ground lessor, shall never be treated as an assumption by such holder or ground lessor of any of the obligations of Landlord hereunder, unless such holder, or ground lessor, shall take possession of, or title to, the Building or, by notice sent to Tenant, specifically otherwise elect; and

 

(b)                                 That, except as aforesaid, such holder or ground lessor shall be treated as having assumed Landlord’s obligations hereunder only upon foreclosure of such holder’s mortgage or the taking of possession of the Building, or, in the case of a ground lessor, the assumption of Landlord’s position hereunder by such ground lessor.

 

In no event shall the acquisition of title to the Building and the land on which the same is located by a purchaser which, simultaneously therewith, leases the entire Building or such land back to the seller thereof be treated as an assumption by such purchaser-lessor, by operation of law or otherwise, of Landlord’s obligations hereunder, but Tenant shall look solely to such seller-lessee, and its successors from time to time in title, for performance of Landlord’s obligations hereunder subject to the provisions of Section 9.3 hereof. In any such event, this Lease shall be subject and subordinate to the lease to such purchaser provided that such purchaser agrees to recognize the right of Tenant to use and occupy the Premises while no Event of Default by Tenant continues uncured, and provided that Tenant agrees to attorn to such purchaser. For all purposes, such seller-lessee, and its successors in title, shall be the landlord hereunder unless and until Landlord’s position shall have been assumed by such purchaser-lessor.

 

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9.6                               Surrender.

 

No act or thing done by Landlord during the Lease Term shall be deemed an acceptance of a surrender of the Premises, and no agreement to accept such surrender shall be valid, unless in writing signed by Landlord. No employee of Landlord or of Landlord’s agents shall have any power to accept the keys of the Premises prior to the termination of this Lease. The delivery of keys to any employee of Landlord or of Landlord’s agents shall not operate as a termination of the Lease or a surrender of the Premises.

 

9.7                               Brokerage.

 

(A)                               Tenant warrants and represents that Tenant has not dealt with any broker in connection with the consummation of this Lease other than the broker, person or firm, if any, designated in Section 1.1 hereof; and in the event any claim is made against the Landlord based upon actual dealings by Tenant with brokers other than the Broker designated in Section 1.1 hereof, Tenant shall defend the claim against Landlord with counsel of Tenant’s selection first approved by Landlord (which approval will not be unreasonably withheld) and save harmless and indemnify Landlord on account of loss, cost or damage which may arise by reason of such claim.

 

(B)                               Landlord warrants and represents that Landlord has not dealt with any broker in connection with the consummation of this Lease other than the broker, person or firm, if any, designated in Section 1.1 hereof; and in the event any claim is made against the Tenant based upon actual dealings by Landlord with brokers other than the Broker designated in Section 1.1 hereof, Landlord shall defend the claim against Tenant with counsel of Landlord’s selection first approved by Tenant (which approval will not be unreasonably withheld) and save harmless and indemnify Tenant on account of loss, cost or damage which may arise by reason of such claim. Landlord agrees that it shall be solely responsible for the payment of brokerage commissions to the Broker for the Original Term of this Lease, if any, designated in Section 1.1 hereof pursuant to a separate agreement between Landlord and the Broker.

 

9.8                               Invalidity of Particular Provisions.

 

If any term or provision of this Lease, including but not limited to any waiver of contribution or claims, indemnity, obligation, or limitation of liability or of damages, or the application thereof to any person or circumstance shall, to any extent, be invalid or unenforceable, the remainder of this Lease, or the application of such term or provision to persons or circumstances other than those as to which it is held invalid or unenforceable, shall not be affected thereby, and each term and provision of this Lease shall be valid and be enforced to the fullest extent permitted by law.

 

9.9                               Provisions Binding, Etc.

 

The obligations of this Lease shall run with the land, and except as herein otherwise provided, the terms hereof shall be binding upon and shall inure to the benefit of the successors and assigns, respectively, of Landlord and Tenant and, if Tenant shall be an individual, upon and to his heirs, executors, administrators, successors and assigns. Each term and each provision of this Lease to be performed by Tenant shall be construed to be both a covenant and a condition.

 

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The reference contained to successors and assigns of Tenant is not intended to constitute a consent to subletting or assignment by Tenant.

 

9.10                        Recording; Confidentiality.

 

Tenant agrees not to record the within Lease, but each party hereto agrees, on the request of the other, to execute a so-called Notice of Lease or short form lease in form recordable and complying with applicable law and reasonably satisfactory to both Landlord’s and Tenant’s attorneys. In no event shall such document set forth rent or other charges payable by Tenant under this Lease; and any such document shall expressly state that it is executed pursuant to the provisions contained in this Lease, and is not intended to vary the terms and conditions of this Lease.

 

Each party agrees that this Lease and the terms contained herein will be treated as strictly confidential and, except: (i) as required by law, court order, order of governmental authority, (ii) in connection with any dispute resolution proceeding between the parties, or (iii) with the written consent of the other party, neither party shall not disclose the same to any third party except for such party’s partners, investors, lenders, accountants and attorneys who have been advised of the confidentiality provisions contained herein and agree to be bound by the same.  In the event either party is required or permitted to provide this Lease or disclose any of its terms, such party shall give the other party prompt notice of such requirement prior to making disclosure so that the other party may seek an appropriate protective order or attempt to take other action to prevent such disclosure.  If a party fails to obtain the entry of a protective order or other means of preventing disclosure, and therefore the other party is compelled or permitted to make disclosure, the disclosing party shall only disclose portions of the Lease which the disclosing party is required or obligated to disclose and will exercise reasonable efforts to obtain assurance that confidential treatment will be accorded to the information so disclosed.

 

9.11                        Notices.

 

Whenever, by the terms of this Lease, notice shall or may be given either to Landlord or to Tenant, such notice shall be in writing and shall be sent by overnight commercial courier or by registered or certified mail postage or delivery charges prepaid, as the case may be:

 

If intended for Landlord, addressed to Landlord at the address set forth in Article I of this Lease (or to such other address or addresses as may from time to time hereafter be designated by Landlord by like notice) with a copy to Landlord, Attention: Regional General Counsel.

 

If intended for Tenant, addressed to Tenant at the address set forth in Article I of this Lease except that from and after the Commencement Date the address of Tenant shall be the Premises (or to such other address or addresses as may from time to time hereafter be designated by Tenant by like notice).

 

Except as otherwise provided herein, all such notices shall be effective when received; provided, that (i) if receipt is refused, notice shall be effective upon the first occasion that such receipt is refused, (ii) if the notice is unable to be delivered due to a change of address of which no notice was given, notice shall be effective upon the date such delivery was attempted, (iii) if the notice address is a post office box number, notice shall be effective the day after such notice

 

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is sent as provided hereinabove or (iv) if the notice is to a foreign address, notice shall be effective two (2) business days after such notice is sent as provided hereinabove.

 

Where provision is made for the attention of an individual or department, the notice shall be effective only if the wrapper in which such notice is sent is addressed to the attention of such individual or department.

 

Any notice given by an attorney on behalf of Landlord or by Landlord’s managing agent shall be considered as given by Landlord and shall be fully effective. Any notice given by an attorney on behalf of Tenant shall be considered as given by Tenant and shall be fully effective.

 

Time is of the essence with respect to any and all notices and periods for giving notice or taking any action thereto under this Lease.

 

9.12                        When Lease Becomes Binding and Authority.

 

Employees or agents of Landlord have no authority to make or agree to make a lease or any other agreement or undertaking in connection herewith. The submission of this document for examination and negotiation does not constitute an offer to lease, or a reservation of, or option for, the Premises, and this document shall become effective and binding only upon the execution and delivery hereof by both Landlord and Tenant. All negotiations, considerations, representations and understandings between Landlord and Tenant are incorporated herein and may be modified or altered only by written agreement between Landlord and Tenant, and no act or omission of any employee or agent of Landlord shall alter, change or modify any of the provisions hereof. Landlord and Tenant hereby represents and warrants to the other that all necessary action has been taken to enter this Lease and that the person signing this Lease on behalf of Landlord and Tenant has been duly authorized to do so.

 

9.13                        Section Headings.

 

The titles of the Articles throughout this Lease are for convenience and reference only, and the words contained therein shall in no way be held to explain, modify, amplify or aid in the interpretation, construction or meaning of the provisions of this Lease.

 

9.14                        Rights of Mortgagee.

 

Landlord represents and warrants to Tenant that, as of the Execution Date of this Lease, no mortgage, deed of trust or ground lease encumbers or affects the Property.  This Lease shall be subject and subordinate to the lien of any mortgage now or hereafter on the Site or the Building, or both, and to each advance made or hereafter to be made under any mortgage, and to all renewals, modifications, consolidations, replacements and extensions thereof and all substitutions therefor provided, however, and notwithstanding anything to the contrary contained in this Lease, that as a condition precedent to Tenant’s agreement to subordinate this Lease to mortgages hereafter placed on the Site or the Building or both, the holder of any such mortgage shall enter into with Tenant a non-disturbance agreement in which such holder agrees, subject to commercially reasonable limitations, to recognize the rights of Tenant under this Lease (including, without limitation, the right to use and occupy the Premises) so long as no Event of Default continues uncured hereunder. In confirmation of such subordination and recognition,

 

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Tenant shall execute and deliver promptly such instruments of subordination and recognition as such mortgagee may reasonably request subject to receipt of such instruments of recognition from such mortgagee as Tenant may reasonably request. In the event that any mortgagee or its respective successor in title shall succeed to the interest of Landlord, then, this Lease shall nevertheless continue in full force and effect and Tenant shall and does hereby agree to attorn to such mortgagee or successor and to recognize such mortgagee or successor as its landlord. If any holder of a mortgage which includes the Premises, executed and recorded prior to the date of this Lease, shall so elect, this Lease and the rights of Tenant hereunder, shall be superior in right to the rights of such holder, with the same force and effect as if this Lease had been executed, delivered and recorded, or a statutory notice hereof recorded, prior to the execution, delivery and recording of any such mortgage. The election of any such holder shall become effective upon either notice from such holder to Tenant in the same fashion as notices from Landlord to Tenant are to be given hereunder or by the recording in the appropriate registry or recorder’s office of an instrument in which such holder subordinates its rights under such mortgage to this Lease.

 

9.15                        Status Reports and Financial Statements.

 

9.15.1              Status Reports.  Recognizing that each party may find it necessary to establish to third parties, such as accountants, banks, potential or existing mortgagees or potential purchasers or the like, the then current status of performance hereunder, each party, on the request of the other made from time to time, but no more than twice in any calendar year, will promptly furnish to the requesting party, or in the case of Landlord, to any existing or potential holder of any mortgage encumbering the Premises, the Building, the Site and/or the Property or any potential purchaser of the Premises, the Building, the Site and/or the Property, (each an “Interested Party”), a statement, to the best knowledge of the party giving the same, of the status of any matter pertaining to this Lease, including, without limitation, acknowledgments that (or the extent to which) each party is in compliance with its obligations under the terms of this Lease.

 

9.15.2              Financial Statements.  Tenant shall deliver to Landlord, or any Interested Party designated by Landlord, the Financial Statements, as hereinafter defined, of Tenant and any guarantor of Tenant’s obligations under this Lease, as reasonably requested by Landlord, including, but not limited to Financial Statements for the past three (3) years prior to Landlord’s request; provided however, that: (i) Tenant shall not be required to provide to Landlord any Financial Statement which it has previously provided to Landlord, (ii) no entity which is publicly traded on a national stock exchange shall be required to provide financial statements to Landlord, and (iii) no entity shall be required to provide financial statements to Landlord if its Financial Statements are available to the general public on its website.  “Financial Statements” shall be defined as the most current financial statements of the entity in question which are available at the time of request by Landlord (which statements shall be audited statements, if audited statements are available).  Notwithstanding the foregoing: (i) in no event shall Landlord request such statements more often than one (1) time per calendar year, unless such statements are requested by Landlord in connection with a sale or financing of the Property or an Event of Default by Tenant.  Any non-public financial statements shall be treated as confidential and may be disclosed only (a) as required by administrative, judicial or governmental order or decree, (b) to prospective purchasers and lenders (and their respective accounting, financial and legal advisors) subject to the aforesaid requirements of confidentiality, (c) as may be required by Legal

 

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Requirements, or (d) in connection with any litigation between parties.  Any such status statement or financial statement delivered by either party pursuant to this Section 9.15 may be relied upon by any Interested Party.

 

9.16                        Self-Help.

 

If Tenant shall at any time default beyond applicable notice and cure periods in the performance of any obligation under this Lease (although notice and cure shall not be required either in an emergency or where Tenant has alleged in written notice to Landlord that an unsafe or dangerous condition exists), Landlord shall have the right, but shall not be obligated, to enter upon the Premises and to perform such obligation notwithstanding the fact that no specific provision for such substituted performance by Landlord is made in this Lease with respect to such default. In performing such obligation, Landlord may make any payment of money or perform any other act. All reasonable costs and expenses paid by Landlord (together with interest at the rate of two and one-half percentage points over the then prevailing prime rate in Boston as set by Bank of America, N.A., or its successor (but in no event greater than the maximum rate permitted by applicable law) in connection with the performance of any such act by Landlord, shall be deemed to be Additional Rent under this Lease and shall be payable to Landlord within fifteen (15) days of Landlord’s written demand. Landlord may exercise the foregoing rights without waiving any other of its rights or releasing Tenant from any of its obligations under this Lease.

 

9.17                        Holding Over.

 

Any holding over by Tenant after the expiration of the term of this Lease shall be treated as a tenancy at sufferance and shall be on the terms and conditions as set forth in this Lease, as far as applicable except that Tenant shall pay as a use and occupancy charge an amount equal to (i) 150% of the greater of (x) the Annual Fixed Rent and Additional Rent calculated (on a daily basis) at the highest rate payable under the terms of this Lease, and (y) the fair market rental value of the Premises, for the period measured from the day on which Tenant’s hold-over commences through and until the earlier of (a) the thirtieth (30th) day thereafter and (b) the day on which Tenant vacates the Premises; and (ii) if such hold-over continues beyond such thirty (30)-day period, 200% of the greater of (x) the Annual Fixed Rent and Additional Rent, calculated in the same manner as provided in clause (i) above, and (y) the fair market rental value of the Premises, for the period measured from the thirty first (31st) day after such hold-over commences through and until the day on which Tenant vacates the Premises.  In addition, Tenant shall save Landlord, its agents and employees harmless and will exonerate, defend and indemnify Landlord, its agents and employees from and against any and all damages which Landlord may suffer on account of Tenant’s hold-over in the Premises after the expiration or prior termination of the term of this Lease. Nothing in the foregoing nor any other term or provision of this Lease shall be deemed to permit Tenant to retain possession of the Premises or hold over in the Premises after the expiration or earlier termination of the Lease Term. All property which remains in the Building or the Premises after the expiration or termination of this Lease shall be conclusively deemed to be abandoned and may either be retained by Landlord as its property or sold or otherwise disposed of in such manner as Landlord may see fit. If any part thereof shall be sold, then Landlord may receive the proceeds of such sale and apply the same, at its option against the expenses of the sale, the cost of moving and storage, any arrears of rent or

 

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other charges payable hereunder by Tenant to Landlord and any damages to which Landlord may be entitled under this Lease and at law and in equity.

 

9.18                        Late Payment.

 

If Landlord shall not have received any payment or installment of Annual Fixed Rent or Additional Rent (the “Outstanding Amount”) on or before the date on which the same first becomes payable under this Lease (the “Due Date”), the amount of such payment or installment shall incur a late charge equal to the sum of: (a) five percent (5%) of the Outstanding Amount for administration and bookkeeping costs associated with the late payment and (b) interest on the Outstanding Amount from the Due Date through and including the date such payment or installment is received by Landlord, at a rate equal to the lesser of (i) the rate announced by Bank of America, N.A. (or its successor) from time to time as its prime or base rate (or if such rate is no longer available, a comparable rate reasonably selected by Landlord), plus two percent (2%), or (ii) the maximum applicable legal rate, if any. Such interest shall be deemed Additional Rent and shall be paid by Tenant to Landlord within thirty (30) days after demand by Landlord therefor.  Landlord agrees to waive the late charges due hereunder for the first late payment by Tenant under this Lease per calendar year, provided that Landlord receives such payment from Tenant within five (5) business days after written notice that the same is overdue (provided further that if such payment is not received within the aforesaid five (5) business day period, interest on the Outstanding Amount will accrue as of the original Due Date). Any other late payments during that same calendar year shall be subject to the imposition of the late charge immediately following the Due Date as set forth above.

 

9.19                        Tenant’s Payments.

 

Each and every payment and expenditure, other than Annual Fixed Rent, shall be deemed to be Additional Rent or additional rent hereunder, whether or not the provisions requiring payment of such amounts specifically so state, and shall be payable, unless otherwise provided in this Lease, within thirty (30) days after written demand by Landlord, and in the case of the non-payment of any such amount, Landlord shall have, in addition to all of its other rights and remedies, all the rights and remedies available to Landlord hereunder or by law in the case of non-payment of Annual Fixed Rent. Unless expressly otherwise provided in this Lease, the performance and observance by Tenant of all the terms, covenants and conditions of this Lease to be performed and observed by Tenant shall be at Tenant’s sole cost and expense.  Except with respect to items that are subject to Tenant’s audit rights under Section 2.6.1 above, if Tenant has not objected to any statement of Additional Rent which is rendered by Landlord to Tenant within one hundred eighty (180) days after Landlord has rendered the same to Tenant, then the same shall be deemed to be a final account between Landlord and Tenant not subject to any further dispute. Notwithstanding anything in this Lease to the contrary, if Landlord or any affiliate of Landlord has elected to qualify as a real estate investment trust (“REIT”), any service required or permitted to be performed by Landlord pursuant to this Lease, the charge or cost of which may be treated as impermissible tenant service income under the laws governing a REIT, may be performed by a taxable REIT subsidiary that is affiliated with either Landlord or Landlord’s property manager, an independent contractor of Landlord or Landlord’s property manager (the “Service Provider”). If Tenant is subject to a charge under this Lease for any such service, then, at Landlord’s direction, Tenant will pay such charge either to Landlord for further payment to the

 

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Service Provider or directly to the Service Provider, and, in either case, (i) Landlord will credit such payment against Additional Rent due from Tenant under this Lease for such service, and (ii) such payment to the Service Provider will not relieve Landlord from any obligation under the Lease concerning the provisions of such service.

 

9.20                        Waiver of Trial By Jury.

 

To induce the other party to enter into this Lease, each party hereby waives any right to trial by jury in any action, proceeding or counterclaim brought by either Landlord or Tenant on any matters whatsoever arising out of or any way connected with this Lease, the relationship of the Landlord and the Tenant, the Tenant’s use or occupancy of the Premises and/or any claim of injury or damage, including but not limited to, any summary process eviction action.

 

9.21                        Governing Law.

 

This Lease shall be governed exclusively by the provisions hereof and by the law of the Commonwealth of Massachusetts, as the same may from time to time exist.

 

9.22                        Light and Air.

 

Tenant agrees that no diminution of light, air or view by any structure (inside or outside the Building) which may hereafter be erected or modified (whether or not by Landlord) shall entitle Tenant to any reduction of rent hereunder, result in any liability of Landlord to Tenant, or in any other way affect this Lease.

 

9.23                        Name of Building.

 

Tenant shall not use the name of the Building or Office Park for any purpose other than as the address of the business conducted by Tenant in the Premises without the written consent of Landlord. Landlord reserves the right to change the name of the Building and/or the Office Park at any time in its sole discretion by written notice to Tenant and Landlord shall not be liable to Tenant for any loss, cost or expense on account of any such change of name.

 

9.24                        Extension Option.

 

(a)                                 On the conditions (which conditions Landlord may waive by written notice to Tenant) that both at the time of exercise of the option to extend and as of the commencement of the Extended Term in question: (i) there exists no uncured monetary or material non-monetary Event of Default (defined in Section 7.1), (ii) this Lease is still in full force and effect, (iii) Tenant has not assigned this Lease other than to a Permitted Transferee (as defined in Section 5.6.4), and (iv) Tenant is then leasing at least 41,989 square feet of rentable floor area in the Building that is not subject to a sublease (other than a sublease to a Permitted Transferee), then Tenant shall have the right to extend the Term hereof upon all the same terms, conditions, covenants and agreements herein contained (except for the rent which shall be adjusted during the option period as hereinbelow set forth) for one (1) period of five (5) years, as hereinafter set forth. Such option period is sometimes herein referred to as the “Extended Term.”  Notwithstanding any implication to the contrary Landlord has no obligation to make any

 

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additional payment to Tenant in respect of any construction allowance or the like or to perform any work to the Premises as a result of the exercise by Tenant of such option.

 

(b)                                 Tenant may, but shall not be obligated to, deliver a written request (a “Rent Quote Request”) to Landlord for Landlord’s quotation of the annual fair market rent for the Premises as of the commencement date of the extension period.  Such quotation (“Landlord’s Rent Quotation”) (i) shall be based on the use of the Premises for the Permitted Use, (ii) shall utilize properties of a similar character within the Boston West Suburban Market, as hereinafter defined, for comparison (including premises within the Property if at the time the Rent Quote Request is delivered such premises shall be available for rent), (iii) shall take into account all relevant factors and (iv) shall include Annual Fixed Rent, Base Operating Expenses, Base Taxes, tenant improvement allowances (if any), and free rent periods (if any) (hereinafter called the “Extension Annual Market Rent”).  For the purposes of this Lease, the “Boston West Suburban Market” shall be defined as the area between Needham and Lexington, Massachusetts (inclusive) on and proximate to Route 128.  Such Rent Quote Request may be given not earlier than fifteen (15) months, and not later than thirteen (13) months, prior to the expiration of the Original Term.  If Tenant delivers a Rent Quote Request, then within thirty (30) days after Landlord’s receipt thereof, Landlord shall provide Landlord’s Rent Quotation to Tenant with respect to the Extended Term.

 

(c)                                  If Tenant desires to exercise the option to extend the Term, Tenant shall deliver written notice (“Extension Exercise Notice”) to Landlord on or before the earlier to occur of (i) if applicable, the date thirty (30) days after the delivery of Landlord’s Rent Quotation, and (ii) the date twelve (12) months prior to the expiration of the Original Term (such earlier date, the “Extension Exercise Deadline”).  If Tenant timely delivers an Extension Exercise Notice, then the Term hereof shall be extended for the Extended Term upon all of the same terms, conditions, covenants and agreements contained in this Lease, except that (x) the Annual Fixed Rent, Base Operating Expenses, Base Taxes, tenant improvement allowances (if any), and free rent periods (if any) for the option period shall be equal to the Determined Extension Annual Market Rent, as hereinafter defined, and (y) Tenant shall have no further option to extend the Term.  If Tenant does not timely deliver the Extension Exercise Notice, then Tenant shall have no further right to extend the Term of this Lease pursuant to this Section 9.24, time being of the essence.

 

(d)                                 If Landlord delivered Landlord’s Rent Quotation prior to the delivery of Tenant’s Extension Exercise Notice, then such Landlord’s Rent Quotation shall be used in determining the Determined Extension Annual Market Rent.  If Landlord did not deliver Landlord’s Rent Quotation prior to the delivery of Tenant’s Extension Exercise Notice then Landlord shall, on or before the later to occur of (i) the date thirty (30) days after receipt of Tenant’s Extension Exercise Notice, and (ii) the date fourteen (14) months prior to the expiration of the Original Term, deliver to Tenant Landlord’s Rent Quotation, and such Landlord’s Rent Quotation shall be used in determining the Determined Extension Annual Market Rent.  If Tenant disagrees with the Extension Annual Market Rent set forth in Landlord’s Rent Quotation, then the parties shall negotiate in good faith for a period of thirty (30) days (the “Negotiation Period”) to agree upon the Extension Annual Market Rent.  If the parties do not so agree within the Negotiation Period, then Tenant shall have the right, by written notice to Landlord delivered within thirty (30) days after the expiration of the Negotiation Period, to submit the determination of the Extension Annual Market Rent for the Extended Term to a broker determination made in

 

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the manner set forth in Exhibit K (the “Broker Determination”).  If Tenant timely shall have requested the Broker Determination, then the Extension Annual Market Rent for the Extended Term shall be the Extension Annual Market Rent as determined by the Broker Determination; provided, however, in no event shall the Annual Fixed Rent payable during the Extended Term be less than the Annual Fixed Rent for the last year of the Original Term of this Lease.  If Tenant timely delivers the Extension Exercise Notice, but does not timely request the Broker Determination, then the Extension Annual Market Rent during the Extended Term shall be as set forth in Landlord’s Rent Quotation or as otherwise agreed by the parties during the Negotiation Period.  The Extension Annual Market Rent as determined pursuant to this Section 9.24(d) shall be the “Determined Extension Annual Market Rent.”

 

(e)                                  Upon the giving of the Extension Exercise Notice by Tenant to Landlord, the Term hereof shall be automatically extended for the Extended Term, without the necessity for the execution of any additional documents, except that Landlord and Tenant agree to enter into an instrument in writing setting forth the Determined Extension Annual Market Rent for the Extended Term as determined in the relevant manner set forth in this Section 9.24; and in such event all references herein to the Lease Term or the Term of this Lease shall be construed as referring to the Term, as so extended.

 

(f)                                   In no event shall the Lease Term hereof be extended for more than five (5) years after the expiration of the Original Term hereof.

 

9.25                        Right of First Refusal for First Expansion Space.

 

(a)                                 As of the date hereof, the approximately 5,934 square feet of rentable area on the third (3rd) floor of the South Wing of the Building shown on Exhibit L attached hereto (the “First Expansion Space”) is vacant.

 

(b)                                 On the conditions (which conditions Landlord may waive by written notice to Tenant) that both at the time of delivery of the First Expansion Space Acceptance Notice, as hereinafter defined, and as of the date upon which the First Expansion Space would have otherwise become incorporated into the Premises: (i) there exists no uncured monetary or material non-monetary Event of Default (defined in Section 7.1), (ii) this Lease is still in full force and effect, (iii) Tenant has not assigned this Lease other than to a Permitted Transferee (as defined in Section 5.6.4), and (iv) Tenant is then leasing at least 41,989 square feet of rentable floor area in the Building that is not subject to a sublease (other than a sublease to a Permitted Transferee), Landlord agrees that, subject to Section 9.25(g)(ii) below, during the Term, upon the occurrence of the Expansion Notice Trigger Date, as defined in Section 9.28(b) hereof, Landlord will give written notice to Tenant offering to lease the First Expansion Space to Tenant pursuant to this Section 9.25 (“Landlord’s First Expansion Space RFR Notice”).  Landlord’s First Expansion Space RFR Notice shall specify the estimated delivery date of the First Expansion Space, the number of days in the Pre-Term Build Out Period (as defined in Section 9.28(c)) and the Expansion Annual Market Rent (as defined in Section 9.28(e)) with respect to the First Expansion Space.

 

(c)                                  Tenant shall have the right, exercisable upon written notice (“First Expansion Space Acceptance Notice”) given to Landlord on or before the date (“First Expansion

 

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Space Offer Acceptance Date”) ten (10) business days after the receipt of Landlord’s First Expansion Space RFR Notice, to lease the First Expansion Space on the same terms and conditions set forth in this Lease applicable to the Premises, except as modified as set forth in this Section 9.25 and Section 9.28.  If Tenant desires to lease the First Expansion Space but disagrees with the Expansion Annual Market Rent set forth in Landlord’s First Expansion Space RFR Notice, Tenant shall have the right to indicate, in Tenant’s First Expansion Space Acceptance Notice, that Tenant so disagrees, whereupon the parties shall negotiate in good faith for a period of thirty (30) days (the “Negotiation Period”) to agree upon the Expansion Annual Market Rent.  If the parties do not so agree within the Negotiation Period, then Tenant shall have the right, by written notice given to Landlord within thirty (30) days after the expiration of the Negotiation Period, to submit the Expansion Annual Market Rent to a Broker Determination.  If Tenant timely shall have requested the Broker Determination, then the Expansion Annual Market Rent for the First Expansion Space shall be the Expansion Annual Market Rent as determined by the Broker Determination.  If Tenant timely delivers the First Expansion Space Acceptance Notice, but does not timely request the Broker Determination, then the Expansion Annual Market Rent for the First Expansion Space shall be as set forth in Landlord’s First Expansion Space RFR Notice or as otherwise agreed by the parties during the Negotiation Period.

 

(d)                                 If Tenant timely gives the First Expansion Space Acceptance Notice, Landlord shall lease and demise to Tenant and Tenant shall hire and take from Landlord, the First Expansion Space, at the Expansion Annual Market Rent determined as aforesaid and otherwise upon all of the same terms and conditions of this Lease, except as modified as set forth in this Section 9.25 and Section 9.28.  If Tenant fails timely to give the First Expansion Space Acceptance Notice, Tenant shall be deemed to have rejected Landlord’s First Expansion Space RFR Notice, time being of the essence.

 

(e)                                  If Tenant fails timely to give the First Expansion Space Acceptance Notice, Landlord shall be free to enter into a lease of the First Expansion Space with the third party offeror tenant that was the subject of the Expansion Notice Trigger Date upon terms and conditions as Landlord shall determine, which terms may include rights or options to extend the term of such lease and Landlord shall have no further obligation with respect to the sending of a Landlord’s First Expansion Space RFR Notice to Tenant, and Tenant shall have no rights with respect thereto, unless and until (x) (i) Landlord and such third party offeror fail to enter into a lease of the First Expansion Space, and (ii) thereafter (subject to Section 9.25(g)(ii) below), the Expansion Notice Trigger Date occurs with respect to a different third-party tenant, or (y) (i) Landlord and such third party offeror do enter into a lease of the First Expansion Space, and (ii) thereafter such third-party offeror vacates the First Expansion Space and (subject to Section 9.25(g)(ii) below) the Expansion Notice Trigger Date occurs with respect to a different third-party tenant.

 

(f)                                   Tenant shall not have the right to lease less than the entirety of the First Expansion Space pursuant to this Section 9.25.

 

(g)                                  Notwithstanding anything to the contrary contained in this Lease: .

 

(i)                                     Tenant’s lease of the First Expansion Space shall be coterminous with Tenant’s lease of the remainder of the Premises.

 

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(ii)                                  Landlord’s obligations under this Section 9.25 with respect to the giving of a Landlord’s First Expansion Space RFR Notice and Tenant’s rights with respect thereto shall expire on the date (the “Outside Exercise Date”) thirty six (36) months prior to the expiration of the Term, except that if the First Expansion Space becomes available for reletting during the Original Term but after the Outside Exercise Date, and if Tenant’s Extension Option under Section 9.24 has not then either been waived by Tenant or lapsed unexercised, then Landlord shall, subject to the provisions of this Section 9.25, give a Landlord’s First Expansion Space RFR Notice to Tenant with respect to the First Expansion Space, and Tenant shall only have the right to deliver the First Expansion Space Acceptance Notice if Tenant simultaneously exercises its Extension Option in accordance with the terms and provisions of Section 9.24.

 

9.26                        Rights of First Refusal and First Offer for Second Expansion Space.

 

(a)                                 As of the date hereof, the approximately 4,524 square feet of rentable area on the third floor of the North Wing of the Building shown on Exhibit M attached hereto (the “Second Expansion Space”) is leased to CATO Research.  Such existing lease and the term thereof, including, but not limited to, the original term thereof, options to extend the term thereof, any expansion options and any amendment(s) thereto is hereinafter called the “Second Expansion Space Existing Lease,” and the tenant thereunder (the “Second Expansion Space Existing Tenant”).

 

(b)                                 On the conditions (which conditions Landlord may waive by written notice to Tenant) that both at the time of delivery of the Second Expansion Space Acceptance Notice, as hereinafter defined, and as of the date upon which the Second Expansion Space would have otherwise become incorporated into the Premises: (i) there exists no uncured monetary or material non-monetary Event of Default (defined in Section 7.1), (ii) this Lease is still in full force and effect, (iii) Tenant has not assigned this Lease other than to a Permitted Transferee (as defined in Section 5.6.4), and (iv) Tenant is then leasing at least 41,989 square feet of rentable floor area in the Building that is not subject to a sublease (other than a sublease to a Permitted Transferee), Landlord agrees that, subject to Section 9.26(i)(ii) below, (x) during the period from the Commencement Date through the last day of the eighteenth (18th) full calendar month thereafter (the “RFR Period”), upon the occurrence of the Expansion Notice Trigger Date, Landlord will give written notice to Tenant offering to lease the Second Expansion Space to Tenant pursuant to this Section 9.26 (“Landlord’s Second Expansion Space RFR Notice”), and (y) thereafter if Landlord determines that the Second Expansion Space will become Available for Lease, as hereinafter defined, then prior to offering to lease the Second Expansion Space to a third party, Landlord will first give written notice to Tenant offering to lease the Second Expansion Space to Tenant pursuant to this Section 9.26 (“Landlord’s Second Expansion Space RFO Notice”), and (z) if the Second Expansion Space Existing Tenant approaches Landlord about extending the Second Expansion Space Existing Lease, then (and, if applicable, in lieu of delivering Landlord’s Second Expansion Space RFR Notice) Landlord, promptly after first being so approached by the Second Expansion Space Existing Tenant, will give written notice to Tenant offering to lease the Second Expansion Space to Tenant pursuant to this Section 9.26 (“Landlord’s Existing Tenant Interest Notice”).  Landlord’s Second Expansion Space RFR Notice, Landlord’s Second Expansion Space RFO Notice, or Landlord’s Existing Tenant Interest Notice, as the case may be, shall specify the estimated delivery date of the Second Expansion Space, the number of days in the Pre-Term Build Out Period and the Expansion Annual Market

 

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Rent (as defined in Section 9.28) with respect to the Second Expansion Space.  As used herein, a space shall be “Available for Lease” when Landlord determines that the tenant thereof will vacate such space and Landlord intends to offer such space for lease to a party unrelated to Landlord.

 

(c)                                  Tenant shall have the right, exercisable upon written notice (“Second Expansion Space Acceptance Notice”) given to Landlord on or before the date ten (10) business days after the receipt of Landlord’s Second Expansion Space RFR Notice or Landlord’s Second Expansion Space RFO Notice, or the date five (5) business days after the receipt of Landlord’s Existing Tenant Interest Notice, as applicable, (“Second Expansion Space Offer Acceptance Date”) to lease the Second Expansion Space on the same terms and conditions set forth in this Lease applicable to the Premises, except as modified as set forth in this Section 9.26 and Section 9.28.  If Tenant desires to lease the Second Expansion Space but disagrees with the Expansion Annual Market Rent set forth in Landlord’s Second Expansion Space RFR Notice, Landlord’s Second Expansion Space RFO Notice, or Landlord’s Existing Tenant Interest Notice, as the case may be, Tenant shall have the right to indicate, in Tenant’s Second Expansion Space Acceptance Notice, that Tenant so disagrees, whereupon the parties shall negotiate in good faith for a period of thirty (30) days (the “Negotiation Period”) to agree upon the Expansion Annual Market Rent.  If the parties do not so agree within the Negotiation Period, then Tenant shall have the right, by written notice given to Landlord within thirty (30) days after the expiration of the Negotiation Period, to submit the Expansion Annual Market Rent to a Broker Determination.  If Tenant timely shall have requested the Broker Determination, then the Expansion Annual Market Rent for the Second Expansion Space shall be the Expansion Annual Market Rent as determined by the Broker Determination.  If Tenant timely delivers the Second Expansion Space Acceptance Notice, but does not timely request the Broker Determination, then the Expansion Annual Market Rent for the Second Expansion Space shall be as set forth in Landlord’s Second Expansion Space RFR Notice, Landlord’s Second Expansion Space RFO Notice, or Landlord’s Existing Tenant Interest Notice, as the case may be, or as otherwise agreed by the parties during the Negotiation Period.

 

(d)                                 If Tenant fails timely to give the Second Expansion Space Acceptance Notice in response to Landlord’s Second Expansion Space RFR Notice, Tenant shall be deemed to have rejected Landlord’s Second Expansion Space RFR Notice, Landlord shall be free to enter into a lease of the Second Expansion Space with the third party offeror tenant that was the subject of the Expansion Notice Trigger Date upon terms and conditions as Landlord shall determine, which terms may include rights or options to extend the term of such lease and Landlord shall have no further obligation with respect to the sending of a Landlord’s Second Expansion Space RFR Notice to Tenant, and Tenant shall have no rights with respect thereto, unless and until within the RFR Period (x) (i) Landlord and such third party offeror fail to enter into a lease of the Second Expansion Space, and (ii) thereafter, the Expansion Notice Trigger Date occurs with respect to a different third-party tenant, or (y) (i) Landlord and such third party offeror do enter into a lease of the Second Expansion Space, and (ii) thereafter such third-party offeror vacates the Second Expansion Space and the Expansion Notice Trigger Date occurs with respect to a different third-party tenant.

 

(e)                                  If Tenant fails timely to give the Second Expansion Space Acceptance Notice in response to Landlord’s Second Expansion Space RFO Notice, Tenant shall be deemed

 

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to have rejected Landlord’s Second Expansion Space RFO Notice, Landlord shall be free to enter into a lease of the Second Expansion Space or any portion thereof with another prospective tenant upon terms and conditions as Landlord shall determine, which terms may include rights or options to extend the term, and Tenant shall have no further right to lease the Second Expansion Space pursuant to this Section 9.26 until (i) the Second Expansion Space has been leased to another tenant and (ii) thereafter (subject to Section 9.26(i)(ii) below) Landlord determines that the Second Expansion Space has once again become Available for Lease.

 

(f)                                   If Tenant fails timely to give the Second Expansion Space Acceptance Notice in response to Landlord’s Existing Tenant Interest Notice, Tenant shall be deemed to have rejected Landlord’s Existing Tenant Interest Notice, Landlord shall be free to enter into a lease of the Second Expansion Space or any portion thereof with the Second Expansion Space Existing Tenant upon terms and conditions as Landlord shall determine, which terms may include rights or options to extend the term, and Tenant shall have no further right to lease the Second Expansion Space pursuant to this Section 9.26 unless (x) (i) Landlord and the Second Expansion Space Existing Tenant fail to enter into a lease of the Second Expansion Space, and (ii) thereafter within the RFR Period, the Expansion Notice Trigger Date occurs with respect to a different third-party tenant or (subject to Section 9.26(i) (ii) below) the Second Expansion Space becomes Available for Lease, as the case may be, or (y) (i) Landlord and the Second Expansion Space Existing Tenant do enter into a lease of the Second Expansion Space, and (ii) thereafter such the Second Expansion Space Existing Tenant vacates the Second Expansion Space and within the RFR Period, the Expansion Notice Trigger Date occurs with respect to a different third-party tenant or (subject to Section 9.26(i)(ii) below) the Second Expansion Space becomes Available for Lease, as the case may be.

 

(g)                                  Tenant shall not have the right to lease less than the entirety of the Second Expansion Space pursuant to this Section 9.26.

 

(h)                                 Upon the timely giving of the Second Expansion Space Acceptance Notice, Landlord shall lease and demise to Tenant and Tenant shall hire and take from Landlord, the Second Expansion Space, at the Expansion Annual Market Rent determined as aforesaid and otherwise upon all of the same terms and conditions of this Lease, except as modified as set forth in this Section 9.26 and Section 9.28.

 

(i)                                     Notwithstanding anything to the contrary contained in this Lease: .

 

(i)                                     Tenant’s lease of the Second Expansion Space shall be coterminous with Tenant’s lease of the remainder of the Premises.

 

(ii)                                  Landlord’s obligations under this Section 9.26 with respect to the giving of a Landlord’s Second Expansion Space RFR Notice and Tenant’s rights with respect thereto shall expire on the last day of the RFR Period, and Landlord’s obligations under this Section 9.26 with respect to the giving of a Landlord’s Second Expansion Space RFO Notice or a Landlord’s Existing Tenant Interest Notice and Tenant’s rights with respect thereto shall expire on the Outside Exercise Date, except that if the Second Expansion Space becomes Available for Lease or if the Second Expansion Space Existing Tenant approaches Landlord about extending the Second Expansion Space Existing Lease, in either case during the Original Term but after the

 

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Outside Exercise Date, and if Tenant’s Extension Option under Section 9.24 has not then either been waived by Tenant or lapsed unexercised, then Landlord shall, subject to the provisions of this Section 9.26, give a Landlord’s Second Expansion Space RFO Notice or a Landlord’s Existing Tenant Interest Notice, as the case may be, to Tenant with respect to the Second Expansion Space, and Tenant shall only have the right to deliver the Second Expansion Space Acceptance Notice if Tenant simultaneously exercises its Extension Option in accordance with the terms and provisions of Section 9.24.

 

9.27                        Rights of First Refusal and First Offer for Third Expansion Space.

 

(a)                                 As of the date hereof, the approximately 15,976 square feet of rentable area on the third floor of the North Wing of the Building shown on Exhibit N attached hereto (the “Third Expansion Space”) is vacant.

 

(b)                                 On the conditions (which conditions Landlord may waive by written notice to Tenant) that both at the time of delivery of the Third Expansion Space Acceptance Notice, as hereinafter defined, and as of the date upon which the Third Expansion Space would have otherwise become incorporated into the Premises: (i) there exists no uncured monetary or material non-monetary Event of Default (defined in Section 7.1), (ii) this Lease is still in full force and effect, (iii) Tenant has not assigned this Lease other than to a Permitted Transferee (as defined in Section 5.6.4), and (iv) Tenant is then leasing at least 41,989 square feet of rentable floor area in the Building that is not subject to a sublease (other than a sublease to a Permitted Transferee), Landlord agrees that, subject to Section 9.27(h)(ii) below, (x) during RFR Period, upon the occurrence of the Expansion Notice Trigger Date, Landlord will give written notice to Tenant offering to lease the Third Expansion Space to Tenant pursuant to this Section 9.27 (“Landlord’s Third Expansion Space RFR Notice”), and (y) thereafter if Landlord determines that the Third Expansion Space will become Available for Lease, then prior to offering to lease the Third Expansion Space to a third party, Landlord will first give written notice to Tenant offering to lease the Third Expansion Space to Tenant pursuant to this Section 9.27 (“Landlord’s Third Expansion Space RFO Notice”).  Landlord’s Third Expansion Space RFR Notice or Landlord’s Third Expansion Space RFO Notice, as the case may be, shall specify the estimated delivery date of the Third Expansion Space, the number of days in the Pre-Term Build Out Period and the Expansion Annual Market Rent (as defined in Section 9.28) with respect to the Third Expansion Space.

 

(c)                                  Tenant shall have the right, exercisable upon written notice (“Third Expansion Space Acceptance Notice”) given to Landlord on or before the date (“Third Expansion Space Offer Acceptance Date”) ten (10) business days after the receipt of Landlord’s Third Expansion Space RFR Notice or Landlord’s Third Expansion Space RFO Notice, as applicable, to lease the Third Expansion Space on the same terms and conditions set forth in this Lease applicable to the Premises, except as modified as set forth in this Section 9.27 and Section 9.28.  If Tenant desires to lease the Third Expansion Space but disagrees with the Expansion Annual Market Rent set forth in Landlord’s Third Expansion Space RFR Notice or Landlord’s Third Expansion Space RFO Notice, as the case may be, Tenant shall have the right to indicate, in Tenant’s Third Expansion Space Acceptance Notice, that Tenant so disagrees, whereupon the parties shall negotiate in good faith for a period of thirty (30) days (the “Negotiation Period”) to agree upon the Expansion Annual Market Rent.  If the parties do not so agree within the

 

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Negotiation Period, then Tenant shall have the right, by written notice given to Landlord within thirty (30) days after the expiration of the Negotiation Period, to submit the Expansion Annual Market Rent to a Broker Determination.   If Tenant timely shall have requested the Broker Determination, then the Expansion Annual Market Rent for the Third Expansion Space shall be the Expansion Annual Market Rent as determined by the Broker Determination.  If Tenant timely delivers the Third Expansion Space Acceptance Notice, but does not timely request the Broker Determination, then the Expansion Annual Market Rent for the Third Expansion Space shall be as set forth in Landlord’s Third Expansion Space RFR Notice or Landlord’s Third Expansion Space RFO Notice, as the case may be, or as otherwise agreed by the parties during the Negotiation Period.

 

(d)                                 If Tenant fails timely to give the Third Expansion Space Acceptance Notice in response to Landlord’s Third Expansion Space RFR Notice, Tenant shall be deemed to have rejected Landlord’s Third Expansion Space RFR Notice, Landlord shall be free to enter into a lease of the Third Expansion Space with the third party offeror tenant that was the subject of the Expansion Notice Trigger Date upon terms and conditions as Landlord shall determine, which terms may include rights or options to extend the term of such lease and Landlord shall have no further obligation with respect to the sending of a Landlord’s Third Expansion Space RFR Notice to Tenant, and Tenant shall have no rights with respect thereto, unless and until within the RFR Period (x) (i) Landlord and such third party offeror fail to enter into a lease of the Third Expansion Space, and (ii) thereafter, the Expansion Notice Trigger Date occurs with respect to a different third-party tenant, or (y) (i) Landlord and such third party offeror do enter into a lease of the Third Expansion Space, and (ii) thereafter such third-party offeror vacates the Third Expansion Space and the Expansion Notice Trigger Date occurs with respect to a different third-party tenant.

 

(e)                                  If Tenant fails timely to give the Third Expansion Space Acceptance Notice in response to Landlord’s Third Expansion Space RFO Notice, Tenant shall be deemed to have rejected Landlord’s Third Expansion Space RFO Notice, Landlord shall be free to enter into a lease of the Third Expansion Space or any portion thereof with another prospective tenant upon terms and conditions as Landlord shall determine, which terms may include rights or options to extend the term, and Tenant shall have no further right to lease the Third Expansion Space pursuant to this Section 9.27 until (i) the Third Expansion Space has been leased to another tenant and (ii) thereafter (subject to Section 9.27(h)(ii) below) Landlord determines that the Third Expansion Space has once again become Available for Lease.

 

(f)                                   Tenant shall not have the right to lease less than the entirety of the Third Expansion Space pursuant to this Section 9.27.

 

(g)                                  Upon the timely giving of the Third Expansion Space Acceptance Notice, Landlord shall lease and demise to Tenant and Tenant shall hire and take from Landlord, the Third Expansion Space, at the Expansion Annual Market Rent determined as aforesaid and otherwise upon all of the same terms and conditions of this Lease, except as modified as set forth in this Section 9.27 and Section 9.28.

 

(h)                                 Notwithstanding anything to the contrary contained in this Lease:

 

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(i)            Tenant’s lease of the Third Expansion Space shall be coterminous with Tenant’s lease of the remainder of the Premises.

 

(ii)           Landlord’s obligations under this Section 9.27 with respect to the giving of a Landlord’s Third Expansion Space RFR Notice and Tenant’s rights with respect thereto shall expire on the last day of the RFR Period, and Landlord’s obligations under this Section 9.27 with respect to the giving of a Landlord’s Third Expansion Space RFO Notice and Tenant’s rights with respect thereto shall expire on the Outside Exercise Date, except that if the Third Expansion Space becomes Available for Lease during the Original Term but after the Outside Exercise Date, and if Tenant’s Extension Option under Section 9.24 has not then either been waived by Tenant or lapsed unexercised, then Landlord shall, subject to the provisions of this Section 9.27, give a Landlord’s Third Expansion Space RFO Notice to Tenant with respect to the Third Expansion Space, and Tenant shall only have the right to deliver the Third Expansion Space Acceptance Notice if Tenant simultaneously exercises its Extension Option in accordance with the terms and provisions of Section 9.24.

 

9.28        Certain Expansion Space Lease Terms.

 

The leasing to Tenant of the First Expansion Space, the Second Expansion Space and the Third Expansion Space (each, an “Expansion Space”) shall be upon all of the same terms and conditions of the Lease, except as set forth in Sections 9.25, 9.26 and 9.27, as applicable, and this Section 9.28.

 

(a)           Definitions.  As used herein, the following terms shall have the meanings set forth below:

 

“Expansion Space RFR Notice” shall mean each of Landlord’s First Expansion Space RFR Notice, Landlord’s Second Expansion Space RFR Notice and Landlord’s Third Expansion Space RFR Notice, as applicable.

 

“Expansion Space RFO Notice” shall mean each of Landlord’s Second Expansion Space RFO Notice, Landlord’s Existing Tenant Interest Notice and Landlord’s Third Expansion Space RFO Notice, as applicable.

 

“Expansion Space Acceptance Notice” shall mean each of the First Expansion Space Acceptance Notice, the Second Expansion Space Acceptance Notice and the Third Expansion Space Acceptance Notice, as applicable.

 

“Expansion Space Offer Acceptance Date” shall mean each of the First Expansion Space Offer Acceptance Date, the Second Expansion Space Offer Acceptance Date and the Third Expansion Space Offer Acceptance Date, as applicable.

 

(b)           “Expansion Notice Trigger Date” shall mean the date on which Landlord reaches a stage in negotiations with a third party to lease the First Expansion Space, the Second Expansion Space or the Third Expansion Space, as applicable, that Landlord reasonably believes in good faith could result in the execution of a letter of intent to lease such space with such third party within fourteen (14) days.

 

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(c)           Pre-Term Build Out Period.  The Pre-Term Build Out Period with respect to the applicable Expansion Space shall commence as of the later of:  (a) the estimated delivery date with respect to such Expansion Space specified in the applicable Expansion Space RFR Notice or Expansion Space RFO Notice, or (b) the date that Landlord actually delivers such Expansion Space to Tenant; and the Pre-Term Build Out Period with respect to the applicable Expansion Space shall continue for the number of days specified in the applicable Expansion Space RFR Notice or Expansion Space RFO Notice.  Landlord agrees that, except in connection with Fixed Expansion Annual Rent (as defined below), the length of the Pre-Term Build Out Period shall be based on then prevailing fair market standards.

 

(d)           Expansion Space Commencement Date.  The commencement date with respect to the applicable Expansion Space (“Expansion Space Commencement Date”) shall be the earlier to occur of (i) the first day after the Pre-Term Build-Out Period with respect to such Expansion Space, and (ii) the date Tenant opens for business for the Permitted Use in the whole or any part of such Expansion Space.

 

(e)           “Expansion Annual Market Rent” shall mean the following:

 

(i)            With respect to Expansion Space 1 or Expansion Space 2, if the Expansion Space Commencement Date for such Expansion Space is expected to occur on or before the first anniversary of the Commencement Date of this Lease, then the Expansion Annual Market Rent shall be the Fixed Expansion Annual Rent.  The “Fixed Expansion Annual Rent” shall be calculated as follows: (1) the Annual Fixed Rent with respect to the applicable Expansion Space shall payable at the same rate, on a per rentable square foot basis, as the Annual Fixed Rent payable with respect to the Premises from time to time for the Original Term, as specified in Section 1.1, (2) Tenant shall be entitled to a special allowance for the applicable Expansion Space (the terms and conditions applicable to payment of which shall be the same as the terms and conditions set forth in Section 1.3 of Exhibit B-1 applicable to payment of the Tenant Allowance, except as expressly waived by Landlord), in the amount of (x) the product of Fifty-Five and 00/100 Dollars ($55.00) and the rentable area of such Expansion Space, multiplied by (y) a fraction (the “Adjustment Factor”), the numerator of which is the number of months from the Expansion Space Commencement Date with respect to such Expansion Space through and until the expiration of the Original Term, and the denominator of which is eighty four (84) (3) Base Operating Expenses with respect to the applicable Expansion Space shall be the amount of Landlord’s Operating Expenses for calendar year 2015, (4) Base Taxes with respect to the applicable Expansion Space shall be the amount of Landlord’s Tax Expenses for fiscal year 2016, and (5) the Pre-Term Build Out Period shall be six (6) months multiplied by the Adjustment Factor.  Notwithstanding anything to the contrary herein contained, Tenant shall have no right to submit the Fixed Annual Expansion Rent to a Broker Determination.

 

(ii)           With respect to Expansion Space 1 or Expansion Space 2, if the Expansion Space Commencement Date for such Expansion Space is expected to occur after the first anniversary of the Commencement Date of this Lease, and with respect to Expansion Space 3 regardless of when the Expansion Space Commencement date is expected to occur, the Expansion Annual Market Rent shall be at fair market value (i) based on the use of the Premises for the Permitted Use, (ii) utilizing properties of a similar character within the Boston West Suburban Market for comparison (including premises within the Property if at the time the

 

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Expansion Annual Market Rent is being determined such premises shall be available for rent), (iii) taking into account all relevant factors and (iv) shall include Annual Fixed Rent, Base Operating Expenses based on the Expansion OpEx Base Year (as hereinafter defined), Base Taxes based on the Expansion Tax Base Year (as hereinafter defined), the length of the Pre-Term Build Out Period, tenant improvement allowances (if any), and free rent periods (if any).

 

(iii)          As used herein, the “Expansion OpEx Base Year” shall be the calendar year in which the Expansion Space Commencement Date for the applicable Expansion Space occurs, if such Expansion Space Commencement Date occurs on or before August 31, and the following calendar year if such Expansion Space Commencement Date occurs on or after September 1.

 

(iv)          As used herein, the “Expansion Tax Base Year” shall be the fiscal year in which the Expansion Space Commencement Date for the applicable Expansion Space occurs, if it occurs on or before the last day of February of such fiscal year, and the following fiscal year if such Expansion Space Commencement Date occurs after the last day of February in such fiscal year.  For example, if the Expansion Space Commencement Date with respect to such Expansion Space occurs on February 15, 2015, then the Expansion Tax Base Year shall be fiscal year 2015 (i.e., July 1, 2014 through June 30, 2015), but if such Expansion Space Commencement Date occurs on March 15, 2015, then the Expansion Tax Base Year shall be fiscal year 2016 (i.e., July 1, 2015 through June 30, 2016).

 

(f)            Condition of Expansion Space.  Tenant shall take the applicable Expansion Space “as-is” in its then (i.e., as of the date of delivery) state of construction, finish, and decoration, without any obligation on the part of Landlord to construct or prepare such Expansion Space for Tenant’s occupancy, except that Landlord shall deliver such Expansion Space to Tenant in broom-clean condition, free of tenants and occupants.  Nothing in this clause (f) shall relieve Landlord of its maintenance and repair obligations under the Lease.

 

(g)           Holding Over by Existing Occupant.  If Tenant shall exercise its rights under Section 9.25, 9.26 or 9.27 and if, thereafter, the existing occupant of all or any portion of the applicable Expansion Space wrongfully fails to deliver possession thereof at the time when its tenancy is scheduled to expire, commencement of the term of Tenant’s occupancy and lease of such Expansion Space shall, in the event of such holding over by such existing occupant, be deferred until possession of such Expansion Space is delivered to Tenant.  The failure of any existing occupant of all or any portion of the applicable Expansion Space to so vacate shall not constitute a default or breach by Landlord and shall not give Tenant any right to terminate this Lease or to deduct from, offset against or withhold Annual Fixed Rent or Additional Rent (or any portions thereof).  Notwithstanding the foregoing, if the Landlord is unable to deliver the applicable Expansion Space within one hundred twenty (120) days after the anticipated delivery date therefor set forth in the applicable Expansion Space RFR Notice or Expansion Space RFO Notice, Tenant may terminate its Lease solely with respect to such Expansion Space (but not with respect to the remainder of the Premises) upon five (5) days’ prior written notice to Landlord.

 

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9.29        Security Deposit .

 

(a)           Security Deposit.  Concurrently with the execution of this Lease, Tenant shall pay to Landlord a security deposit in the amount of One Million One Hundred Fifty-Two Thousand Nine Hundred Thirty-Seven and 50/100 Dollars ($1,152,937.50) and Landlord shall hold the same, throughout the Term of this Lease (including the Extended Term, if applicable), unless sooner returned to Tenant as provided in this Section 9.29, as security for the performance by Tenant of all obligations on the part of Tenant to be performed under this Lease. Such deposit shall be in the form of an irrevocable, unconditional, negotiable letter of credit (the “Letter of Credit”). The Letter of Credit shall (i) be issued by and drawn on a bank reasonably approved by Landlord and at a minimum having a long term issuer credit rating from Standard and Poor’s Professional Rating Service of A or a comparable rating from Moody’s Professional Rating Service, (ii) be substantially in the form attached hereto as Exhibit M, (iii) permit one or more draws thereunder to be made accompanied only by certification by Landlord or Landlord’s managing agent that pursuant to the terms of this Lease, Landlord is entitled to draw upon such Letter of Credit, (iv) permit transfers at any time without charge, (v) permit presentment in Boston, Massachusetts and (vi) provide that any notices to Landlord be sent to the notice address provided for Landlord in this Lease.  If the credit rating for the issuer of such Letter of Credit falls below the standard set forth in (i) above or if the financial condition of such issuer changes in any other material adverse way, Landlord shall have the right to require that Tenant provide a substitute letter of credit that complies in all respects with the requirements of this Section 9.29, and Tenant’s failure to provide the same within thirty (30) days following Landlord’s written demand therefor shall entitle Landlord to immediately draw upon the Letter of Credit. Any such Letter of Credit shall be for a term of two (2) years (or for one (1) year if the issuer thereof regularly and customarily only issues letters of credit for a maximum term of one (1) year) and shall in either case provide for automatic renewals through the date which is ninety (90) days subsequent to the scheduled expiration of this Lease (as the same may be extended) or if the issuer will not grant automatic renewals, the Letter of Credit shall be renewed by Tenant each year and each such renewal shall be delivered to and received by Landlord not later than sixty (60) days before the expiration of the then current Letter of Credit (herein called a “Renewal Presentation Date”). In the event of a failure to so deliver any such renewal Letter of Credit on or before the applicable Renewal Presentation Date, Landlord shall be entitled to present the then existing Letter of Credit for payment and to receive the proceeds thereof, which proceeds shall be held as Tenant’s security deposit, subject to the terms of this Section 9.29. Any failure or refusal to honor the Letter of Credit shall be at Tenant’s sole risk and shall not relieve Tenant of its obligation hereunder with regard to the security deposit.

 

(b)           Upon the occurrence of any default of Tenant continuing beyond any applicable notice and cure period, Landlord shall have the right from time to time without prejudice to any other remedy Landlord may have on account thereof, to draw on all or any portion of such deposit held as a Letter of Credit and to apply the proceeds of such Letter of Credit or any cash held as such deposit, or any part thereof, to Landlord’s damages arising from such default on the part of Tenant under the terms of this Lease. If Landlord so applies all or any portion of such deposit, Tenant shall within seven (7) days after notice from Landlord (i) deposit cash with Landlord in an amount sufficient to restore such deposit to the full amount stated in this Section 9.29, (ii) provide Landlord with an amendment to the Letter of Credit which Landlord is then holding (which amendment shall be in form and substance reasonably

 

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acceptable to Landlord) restoring it to the full amount stated in this Section 9.29, (iii) provide Landlord with an additional letter of credit complying with the requirements of this Section 9.29 in the appropriate amount, or (iv) provide Landlord with a substitute Letter of Credit complying with the requirements of this Section 9.29 in the appropriate amount.  If Tenant is delivering a substitute Letter of Credit, as aforesaid, Landlord agrees to cooperate with Tenant to provide for a simultaneous exchange of the substitute Letter of Credit and the existing Letter of Credit. While Landlord holds any cash deposit Landlord shall have no obligation to pay interest on the same and shall have the right to commingle the same with Landlord’s other funds. Neither the holder of a mortgage nor the Landlord in a ground lease on property which includes the Premises shall ever be responsible to Tenant for the return or application of any such deposit, whether or not it succeeds to the position of Landlord hereunder, unless such deposit shall have been received in hand by such holder or ground Landlord.

 

(c)           Reduction in Security Deposit/Letter of Credit Amount.

 

(i)            If Tenant satisfies the First Reduction Condition, as hereinafter defined, then, upon written request of Tenant, the amount of the Letter of Credit shall be reduced by Three Hundred Eighty-Four Thousand Three Hundred Twelve and 50/100 Dollars ($384,312.50) (“First Reduction Amount”).  If, after having satisfied the First Reduction Condition, as hereinafter defined, Tenant subsequently satisfies the Second Reduction Condition, then, upon written request of Tenant, the amount of the Letter of Credit shall be reduced by an additional Three Hundred Eighty-Four Thousand Three Hundred Twelve and 50/100 Dollars ($384,312.50) (“Second Reduction Amount”).  In no event, however, shall the amount of the Letter of Credit be less than Three Hundred Eighty-Four Thousand Three Hundred Twelve and 50/100 Dollars ($384,312.50).

 

(ii)           Tenant shall be deemed to have satisfied the “First Reduction Condition” as of any date during the Term of the Lease (subject to the last sentence of this subsection (ii)) if all of the following shall be true as of such date: (1) no monetary or material non-monetary Event of Default by Tenant has occurred during the one year period prior to such date, (2) during a period (“First Reduction Period”) consisting of one Fiscal Year immediately preceding such date, Tenant achieves Adjusted Gross Revenues, as hereinafter defined, of at least $100,000,000.00 and Earnings, as hereinafter defined, of at least $5,000,000.00, as evidenced by an Audited Financial Statement, as hereinafter defined, delivered by Tenant to Landlord, (3) the Lease is then in full force and effect, (4) there is no material uncured non-monetary Event of Default by Tenant on such date, and (5) Tenant is in full compliance with its monetary obligations under the Lease as of such date.  If Landlord refuses to recognize that Tenant has achieved the First Reduction Condition based upon Tenant’s failure to be in full compliance with its monetary obligations under the Lease, then Landlord shall promptly so advise Tenant in writing, and if Tenant shall thereafter cure such non-compliance, then Landlord shall reduce the Letter of Credit by the First Reduction Amount if, on the date that Tenant cures such non-compliance, the First Reduction Condition is then satisfied.  In no event shall the First Reduction Condition be deemed to be satisfied prior to the date thirty (30) months after the Commencement Date.

 

(iii)          Tenant shall be deemed to have satisfied the “Second Reduction Condition” as of any date during the Term of the Lease (subject to the last sentence of this

 

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subsection (iii)) if all of the following shall be true as of such date: (1) the First Reduction Condition have been previously satisfied, (2) no monetary or material non-monetary Event of Default by Tenant has occurred during the one year period prior to such date, (3) during a period (“Second Reduction Period”) consisting of one Fiscal Year immediately preceding such date, Tenant achieves Adjusted Gross Revenues, as hereinafter defined, of at least $120,000,000.00 and Earnings, as hereinafter defined, of at least $10,000,000.00, as evidenced by an Audited Financial Statement, as hereinafter defined, delivered by Tenant to Landlord, (4) the Lease is then in full force and effect, (5) there is no material uncured non-monetary Event of Default by Tenant on such date, and (6) Tenant is in full compliance with its monetary obligations under the Lease as of such date.  If Landlord refuses to recognize that Tenant has achieved the Second Reduction Condition based upon Tenant’s failure to be in full compliance with its monetary obligations under the Lease, then Landlord shall promptly so advise Tenant in writing, and if Tenant shall thereafter cure such non-compliance, then Landlord shall reduce the Letter of Credit by the Second Reduction Amount if, on the date that Tenant cures such non-compliance, the Second Reduction Condition is then satisfied.  In no event shall any portion of the First Reduction Period be part of the Second Reduction Period, and in no event shall the Second Reduction Condition be deemed to be satisfied prior to the date fifty-four (54) months after the Commencement Date.

 

(iv)          “Fiscal Year” shall be defined as Tenant’s fiscal year for accounting purposes.  “Earnings” shall be defined as Tenant’s earnings before taxes, depreciation and amortization less capital expenditures, as set forth in Tenant’s Audited Financial Statement.  “Audited Financial Statement” shall be defined as Tenant’s audited financial statements for the Fiscal Years in question prepared by Tenant’s auditor, who shall be a major national independent certified accounting firm.  “Adjusted Gross Revenues” shall be defined as gross revenues in accordance with GAAP, as disclosed in Tenant’s Audited Financial Statement, however, deferred revenues and backlog assumed in acquisitions at fair value which would otherwise be excluded from gross revenues in accordance with GAAP, shall be included in Adjusted Gross Revenues.

 

(v)           If the Security Deposit is held by Landlord in the form of cash, then, after Tenant has satisfied the First Reduction Condition or the Second Reduction Condition, as the case may be, Landlord shall return the First Reduction Amount or the Second Reduction Amount, as the case may be, to Tenant within ten (10) business days after Landlord’s receipt of written request from Tenant.  If the Security Deposit is held by Landlord in the form of a Letter of Credit, then, after Tenant has satisfied the First Reduction Condition or the Second Reduction Condition, as the case may be, Landlord shall, at Tenant’s election and within ten (10) business days after Landlord’s receipt of written request from Tenant, effect the return of the First Reduction Amount or the Second Reduction Amount by either accepting an amendment to the Letter of Credit which Landlord is then holding (which amendment shall be in form and substance reasonably acceptable to Landlord) or by exchanging the Letter of Credit which Landlord is then holding for a substitute Letter of Credit complying with the requirements of this Section 9.29 in the appropriate amount.  If Tenant is delivering a substitute Letter of Credit, as aforesaid, Landlord agrees to cooperate with Tenant to provide for a simultaneous exchange of the substitute Letter of Credit and the existing Letter of Credit.

 

(d)           Return of Security Deposit.  Tenant not then being in default and having performed all of its obligations under this Lease, including the payment of all Annual Fixed

 

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Rent, Landlord shall return the deposit, or so much thereof as shall not have theretofore been applied in accordance with the terms of this Section 9.29, to Tenant on the expiration or earlier termination of the term of this Lease (as the same may have been extended) and surrender possession of the Premises by Tenant to Landlord in the condition required in the Lease at such time.

 

9.30        Cafeteria.

 

(a)           Tenant shall have the right to utilize the Cafeteria located in the Building in common with others entitled thereto, subject to reasonable rules and regulations therefor as Landlord may impose from time to time.

 

(b)           The non-capital expenditure costs of operating the Cafeteria, net of Cafeteria revenue received by Landlord or the Cafeteria operator, shall be included in Landlord’s Operating Expenses.

 

9.31        Electronic Signatures.

 

The parties acknowledge and agree that this Lease may be executed by electronic signature, which shall be considered as an original signature for all purposes and shall have the same force and effect as an original signature.  Without limitation, “electronic signature” shall include faxed versions of an original signature or electronically scanned and transmitted versions (e.g., via pdf) of an original signature.

 

[HERE ENDS THIS PAGE — SIGNATURES APPEAR ON FOLLOWING PAGES]

 

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EXECUTED in two or more counterparts each of which shall be deemed to be an original.

 

	
WITNESS:
    	
 
    	
LANDLORD:
    
	
 
    	
 
    	
 
    	
 
    	
 
    
	
[ILLEGIBLE]
    	
 
    	
BP   BAY COLONY LLC,
    
	
 
    	
 
    	
 
    	
a   Delaware limited liability company
    
	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
By:
    	
BP   BAY COLONY HOLDINGS LLC,
    
	
 
    	
 
    	
 
    	
 
    	
a   Delaware limited liability company, its 
    
	
 
    	
 
    	
 
    	
 
    	
sole   manager
    
	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
By:
    	
BOSTON   PROPERTIES LIMITED
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
PARTNERSHIP,   a Delaware limited 
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
partnership,   its member
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
By:
    	
BOSTON   PROPERTIES, 
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
INC.,   a Delaware corporation
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
its   general partner
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
By:
    	
/s/   David C. Provost
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
Name:
    	
David   C. Provost
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
Title:
    	
SVP
    
									

 

	
 
    	
 
    	
 
    	
TENANT:
    
	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
BIT9, INC.,   
    
	
 
    	
 
    	
a   Delaware corporation
    
	
WITNESS:
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
 
    
	
By:
    	
/s/   Eric Pyenson
    	
 
    	
By:
    	
/c/   Christopher A. Menard
    
	
Name:
    	
Eric   Pyenson
    	
 
    	
Name:
    	
Christopher   A. Menard
    
	
Title:
    	
VP:   General Counsel, Bit9, Inc.
    	
 
    	
Title:
    	
CFO
    
	
 
    	
 
    	
 
    	
 
    	
Hereunto duly authorized
    
	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
(CORPORATE SEAL)
    
							

 

 

EXHIBIT A

 

DESCRIPTION OF OFFICE PARK

 

Parcel I:

 

That certain parcel of land situate in Waltham in the County of Middlesex, Commonwealth of Massachusetts, described as follows:

 

Northeasterly by Winter Street, eight hundred sixty-six and 87/100 feet;

 

Easterly by land now or formerly of City of Cambridge, four hundred forty-two and 93/100 feet;

 

Southwesterly by land now or formerly of Waltham Resources Corp., ten hundred and fifty feet; and

 

Northerly, by three lines measuring together, four hundred fourteen and 19/100 feet,

 

Northwesterly, by three lines measuring together, seven hundred forty-three and 28/100 feet,

 

Southwesterly, being a curving line, three hundred sixty-four and 63/100 feet,

 

Northwesterly, one hundred forty and 15/100 feet,

 

Northeasterly, ninety-two and 37/100 feet,

 

Northwesterly, twenty feet,

 

Northeasterly, three hundred and eighty-three feet, and

 

Northwesterly, twenty feet, all by Lot 6 as shown on plan hereinafter mentioned.

 

Said parcel is shown as Lot 5, Sheet 4, on said plan. (Plan No. 41218C).

 

All of said boundaries are determined by the Land Court to be located as shown on a subdivision plan, as approved by the Land Court, filed in the Land Registration Office, a copy of which is filed in the Registry of Deeds for the South Registry District of Middlesex County in Registration Book 1051, Page 79, with Certificate 184229.

 

Parcel II:

 

That certain parcel of land situate in Waltham in the County of Middlesex, Commonwealth of Massachusetts, described as follows:

 

Northeasterly, by Winter Street, four hundred and one feet,

 

Southeasterly, twenty feet,

 

A-1

 

Southwesterly, three hundred and eighty-three feet,

 

Southeasterly, twenty feet,

 

Southwesterly, ninety-two and 37/100 feet,

 

Southeasterly, one hundred forty and 19/100 feet,

 

Northeasterly, being a curving line, three hundred sixty-four and 63/100 feet,

 

Southeasterly, by three lines measuring together, seven hundred forty-three and 28/100 feet, and

 

Southerly, by three lines measuring together, four hundred fourteen and 19/100 feet, all by Lot 5 as shown on plan hereinafter mentioned;

 

Southwesterly by land now or formerly of Waltham Resources Corp., four hundred eighty-nine and 18/100 feet,

 

Northerly, four hundred twelve and 10/100 feet, and

 

Northwesterly, three hundred twenty-six and 44/100 feet, by Lot 7 on said plan; and

 

Northeasterly, thirteen and 10/100 feet,

 

Northwesterly, three hundred seventy-nine and 63/100 feet,

 

Northwesterly, again, four hundred forty-seven and 33/100 feet,

 

Northeasterly, two hundred five and 91/100 feet, and

 

Northwesterly, twenty feet, all by Lot 8 on said plan.

 

Said parcel is shown as Lot 6, Sheet 3, on said plan, (Plan No. 41218C).

 

All of said boundaries are determined by the Land Court to be located as shown on a subdivision plan, as approved by the Land Court, filed in the Land Registration Office, a copy of which is filed in the Registry of Deeds for the South Registry District of Middlesex County in Registration Book 1051, Page 79, with Certificate 184229.

 

Parcel III:

 

Those certain parcels of land situate in Waltham in the County of Middlesex, Commonwealth of Massachusetts, being shown as Lots 10 and 11 on a plan entitled “Land Court Plan of Land in Waltham, Mass., Prepared for: London & Leeds Development Corp., scale: 1”-80’, dated May 2, 1995, prepared by Schofield Brothers of New England, Inc., 1071 Worcester Road, Framingham, Mass. 01701, filed in the Land Registration Office as Land Court Plan No. 41218E.

 

A-2

 

Parcel IV (Appurtenant Rights):

 

TOGETHER WITH the rights, easements, benefits and appurtenances in the following instruments:

 

A.            Declaration of Easement dated April 30, 1984 and filed with the Middlesex South Registry District of the Land Court as Document Number 661086.

 

B.            Declaration of Restrictions dated October 20, 1983 and recorded with the Middlesex South Registry of Deeds at Book 15274, Page 590.

 

C.            Grant of Utility Easements dated October 20, 1983 and recorded with the Middlesex South Registry of Deeds at Book 15274, Page 577 and filed with the Middlesex South Registry District of the Land Court as Document Number 649824.

 

D.            License Agreement dated June 8, 1984 and recorded with the Middlesex South Registry of Deeds at Book 15651, Page 171.

 

E.            Declaration of Easements and Covenants dated October 30, 1986 and filed with the Land Court as Document number 726257; as amended by First Amendment of Declaration of Easements and Covenants dated December 15, 1997 and filed with the Land Court as Document Number 1049953.

 

F.             Grant of Drainage Easements dated October 20, 1983 and recorded with the Registry of Deeds at Book 15274, Page 597.

 

A-3

 

EXHIBIT B-1

 

WORK AGREEMENT

 

1.1          Tenant’s Work.

 

(A)          Tenant shall accept the Premises in their as-is condition without any obligation on the Landlord’s part to perform any additions, alterations, improvements, demolition or other work therein or pertaining thereto except as otherwise expressly set forth in the Lease. Tenant, at its sole cost and expense, shall perform all work necessary to prepare the Premises for Tenant’s occupancy in accordance with plans and specifications prepared by an architect, licensed by the Commonwealth of Massachusetts and reasonably approved by Landlord, such plans and specifications to be subject to the reasonable approval of the Landlord.  Landlord hereby approves of Unispace as the Tenant’s architect.  Tenant shall submit to Landlord a detailed floor plan layout together with working drawings (the “Tenant’s Submission”) for work to be performed by Tenant to prepare the Premises for Tenant’s occupancy (“Tenant’s Work”). Such floor plan layout and working drawings (the “Plans”) shall contain at least the information required by, and shall conform to the requirements of, Exhibit B-2.  Provided that the Plans contain at least the information required by, and conform to the requirements of, said Exhibit B-2, Landlord’s approval of the Plans shall not be unreasonably withheld, conditioned or delayed.  If Landlord disapproves of any Plans, then Tenant shall promptly have the Plans revised by its architect to incorporate all objections and conditions presented by Landlord and shall resubmit such plans to Landlord as soon as practically possible after Landlord has submitted to Tenant its objections and conditions.  Such process shall be followed until the Plans shall have been approved by the Landlord without objection or condition.  Once the Plans have been approved by Landlord, Tenant shall have the right to change, modify or amend such Plans, subject to the reasonable approval by Landlord of such changes, modifications or amendments as otherwise herein provided.  Notwithstanding the foregoing, Landlord’s initial approval, or disapproval with supporting specific reasons, shall be provided to Tenant within ten (10) days of Landlord’s receipt, except that if Landlord reasonably determines that it must engage an outside consultant in connection with its review and approval of the Plans (i.e., because, in Landlord’s reasonable judgment, Landlord’s staff does not have the appropriate skills to perform such review), the period for Landlord’s review of the Plans shall be ten (10) business days after Landlord’s receipt.  Future approvals, or disapprovals with supporting specific reasons, for subsequent submittals of corrections or changes, shall be provided to Tenant within three (3) business days of Landlord’s receipt.

 

(B)          Once the Plans have been approved by Landlord, Tenant, at its sole cost and expense, shall promptly, and with all due diligence, perform Tenant’s Work as set forth on the Plans, and, in connection therewith, Tenant shall obtain all necessary governmental permits and approvals for Tenant’s Work. All of Tenant’s Work shall be performed strictly in accordance with the Plans and in accordance with applicable Legal Requirements (as defined in Section 1.2 hereof) and Insurance Requirements (as defined in Section 5.12 of the Lease). Tenant shall have Tenant’s Work performed by contractors, reasonably approved by Landlord, which contractors shall provide to Landlord such insurance as required by Section 8.14 of the Lease.  Landlord hereby acknowledges that it has approved the contractors listed on Exhibit B-3 to act as Tenant’s contractor with respect to Tenant’s Work.  Landlord shall have the right, in accordance with

 

B-1-1

 

Section 5.4 of the Lease, to provide such reasonable rules and regulations relative to the performance of Tenant’s Work and any other work which the Tenant may perform under the Lease and Tenant shall abide by all such reasonable rules and regulations and shall cause all of its contractors to so abide including, without limitation, payment for the costs of using Building electrical services and, if Tenant’s Work is performed other than during normal Building business hours, the cost of building engineer during such overtime hours.  It shall be Tenant’s obligation to obtain a certificate of occupancy or other like governmental approval for the use and occupancy of the Premises to the extent required by law, and Tenant shall not occupy the Premises for the conduct of business until and unless it has obtained such approval and has submitted to Landlord a copy of the same together with waivers of lien from all of Tenant’s contractors in form adequate for recording purposes. Tenant shall also prepare and submit to Landlord promptly after Tenant’s Work is substantially complete a set of as-built plans in both print and electronic forms showing the work performed by Tenant to the Premises including, without limitation, any wiring or cabling installed by Tenant or Tenant’s contractor for Tenant’s computer, telephone and other communication systems. Within thirty (30) days after receipt of an invoice from Landlord, Tenant shall pay to Landlord, as Additional Rent, an amount equal to the third party expenses incurred by Landlord to review Tenant’s Plans and Tenant’s Work, up to a maximum of Five Thousand and 00/100 Dollars ($5,000.00).

 

1.2          Quality and Performance of Work.

 

All construction work required or permitted by the Lease shall be done in a good and workmanlike manner and in compliance with all applicable laws, ordinances, rules, regulations, statutes, by-laws, court decisions, and orders and requirements of all public authorities (“Legal Requirements”) and all Insurance Requirements (as defined in Section 5.12 of the Lease).  All of Tenant’s work shall be coordinated with any work being performed by or for Landlord and in such manner as to maintain harmonious labor relations.  Each party may inspect the work of the other at reasonable times and shall promptly give notice of observed defects. Each party authorizes the other to rely in connection with design and construction upon approval and other actions on the party’s behalf by any Construction Representative of the party named in Section 1.1 of the Lease or any person hereafter designated in substitution or addition by notice to the party relying. Tenant acknowledges that Tenant is acting for its own benefit and account and that Tenant will not be acting as Landlord’s agent in performing any Tenant Work, accordingly, no contractor, subcontractor or supplier shall have a right to lien Landlord’s interest in the Property in connection with any work.

 

1.3          Special Allowance.

 

(A)          Landlord shall provide to Tenant a special allowance equal to Three Million Three Hundred Eighty One Thousand Nine Hundred Fifty and 00/100 Dollars ($3,381,950.00) (being the product of (i) $55.00 and (ii) the Rentable Floor Area of the Premises (the “Tenant Allowance”)).

 

The Tenant Allowance shall be used and applied by Tenant solely toward the following (collectively, “Costs”):  (i) the costs of labor and materials incurred in the performance of Tenant’s Work; and (ii) architectural and engineering fees and expenses incurred in connection with the design of Tenant’s Work, provided, however, that such architectural and engineering

 

B-1-2

 

fees and expenses shall be payable from Tenant’s Allowance up to an aggregate amount not to exceed the product of (a) $8.00 and (b) the Rentable Floor Area of the Premises.

 

In no event shall Landlord be required to advance funds on account of the Tenant Allowance with respect to any of Tenant’s personal property, trade fixtures or moving expenses or on account of any supervisory fees, overhead, management fees or other payments to Tenant, or any partner or affiliate of Tenant.

 

As a condition precedent to the disbursement of any payments on account of the Tenant Allowance, Tenant shall deliver to Landlord a certificate signed by Tenant specifying the total amount of all Costs of Tenant’s Work, including architectural and engineering fees and expenses, and identifying all design professionals, consultants, contractors, service providers, subcontractors and suppliers involved with Tenant’s Work (the “Tenant’s Costs Certificate”).  Tenant shall promptly notify Landlord in writing of any material change in the total amount of all Costs of Tenant’s Work as reflected in Tenant’s Costs Certificate.

 

(B)          For the purposes hereof, a “Requisition” shall mean written documentation (including invoices from all applicable Tenant’s design professionals, consultants, contractors, service providers, subcontractors and suppliers, and such other documentation as Landlord’s mortgagee may reasonably request) showing in reasonable detail the Tenant’s Work completed to date and the cost of all of the items, services and work covered thereby.

 

Each Requisition shall be accompanied by (i) evidence reasonably satisfactory to Landlord that all of the items, services and work covered by such Requisition have been fully paid by Tenant, (ii) executed lien waivers (partial or final, as applicable) in the forms attached to the Lease as Exhibit F from all persons or entities that might have a lien as a result of performing any such services or work or furnishing any such items, (iii) a certificate signed by Tenant’s architect certifying that the Tenant’s Work reflected in such Requisition has been completed substantially in accordance with the Approved Plans, and (iv) a certificate signed by Tenant certifying that the amount of the such Requisition does not exceed the cost of the items, services and work covered thereby.  Landlord shall have the right, upon reasonable advance notice to Tenant, to inspect Tenant’s books and records relating to each Requisition in order to verify the amount thereof.  Tenant shall submit Requisition(s) no more often than once every thirty (30) days.

 

Provided and on condition that, as of the date on which Tenant submits to Landlord any Requisition (together with all required supporting documentation) (i) Tenant has delivered Tenant’s Costs Certificate to Landlord, (ii) Tenant has submitted such Requisition to Landlord not later than the last day of the eighteenth (18th) calendar month after the Commencement Date, (iii) there exists no monetary or material non-monetary Event of Default (defined in Section 7.1 of the Lease), and (iv) there are no liens (unless bonded to the reasonable satisfaction of Landlord) against Tenant’s interest in the Lease or against the Building or the Site arising out of Tenant’s Work or any litigation in which Tenant is a party, then Landlord shall pay the Costs shown on such Requisition within thirty (30) days after Landlord’s receipt thereof; provided, however, that in no event shall Landlord have any obligation to pay or otherwise fund (a) any fees, costs or expenses relating to Tenant’s Work other than Costs, or (b) any amount for Costs in excess of the Tenant Allowance.

 

B-1-3

 

(C)          Notwithstanding anything to the contrary herein contained:

 

(i)            In addition to the other requirements applicable to Requisitions generally, as set forth in Section 1.3(B) above, it is understood and agreed that Landlord shall have no obligation to pay Tenant’s final Requisition, unless and until (a) Tenant has delivered to Landlord a final set of record drawings for Tenant’s Work, (b) Tenant has delivered to Landlord a certificate of substantial completion signed by Tenant’s general contractor and (c) the Commencement Date has occurred.

 

(ii)           Landlord shall in no event be deemed, by undertaking to pay the Tenant Allowance or otherwise, to have assumed any obligations, in whole or in part, of Tenant to any design professionals, consultants, contractors, vendors, service providers, subcontractors, suppliers, workers, materialmen or other third parties.

 

(iii)          Except with respect to work and/or materials previously paid for by Tenant, as evidenced by paid invoices and written lien waivers provided to Landlord, Landlord shall have the right (but not the obligation) to have portions of the Tenant Allowance paid to directly to Tenant’s design professionals, consultants, contractors, service providers, subcontractors or suppliers.

 

(iv)          In the event that Costs are less than the Tenant Allowance, Tenant shall not be entitled to any payment or credit, nor shall there be any application of the same toward Annual Fixed Rent or Additional Rent owed by Tenant under the Lease.

 

B-1-4

 

EXHIBIT B-2

 

TENANT PLAN AND WORKING DRAWING REQUIREMENTS

 

1.             Floor plan indicating location of partitions and doors (details required of partition and door types).

 

2.             Location of standard electrical convenience outlets and telephone outlets.

 

3.             Location and details of special electrical outlets; (e.g. Xerox), including voltage, amperage, phase and NEMA configuration of outlets.

 

4.             Reflected ceiling plan showing layout of standard ceiling and lighting fixtures. Partitions to be shown lightly with switches located indicating fixtures to be controlled.

 

5.             Locations and details of special ceiling conditions, lighting fixtures, speakers, etc.

 

6.             Location and heat load in BTU/Hr. of all special air conditioning and ventilating requirements and all necessary HVAC mechanical drawings.

 

7.             Location and details of special structural requirements, e.g., slab penetrations and areas with floor loadings exceeding a live load of 70 lbs./s.f.

 

8.             Locations and details of all plumbing fixtures; sinks, drinking fountains, etc.

 

9.             Location and specifications of floor coverings, e.g., vinyl tile, carpet, ceramic tile, etc.

 

10.          Finish schedule plan indicating wall covering, paint or paneling with paint colors referenced to standard color system.

 

11.          Details and specifications of special millwork, glass partitions, rolling doors and grilles, blackboards, shelves, etc.

 

12.          Hardware schedule indicating door number keyed to plan, size, hardware required including butts, latchsets or locksets, closures, stops, and any special items such as thresholds, soundproofing, etc. Keying schedule is required.

 

13.          Verified dimensions of all built-in equipment (file cabinets, lockers, plan files, etc.).

 

14.          Location of any special soundproofing requirements.

 

15.          All drawings to be uniform size (30” X 42”) and shall incorporate the standard project electrical and plumbing symbols and be at a scale of 1/8” = 1’ or larger.

 

16.          Drawing submittal shall include the appropriate quantity required for Landlord to file for permit along with four half size sets and one full size set for Landlord’s review and use.

 

B-2-1

 

17.          Provide all other information necessary to obtain all permits and approvals for Tenant’s Work.

 

18.          Upon completion of the Tenant’s Work, Tenant shall provide Landlord with two hard copies and one CAD file of all updated architectural and mechanical drawings to reflect all project sketches and changes.

 

B-2-2

 

EXHIBIT B-3

 

APPROVED CONTRACTORS FOR TENANT’S WORK

 

 

 

 

B-3-1

 

EXHIBIT C

 

LANDLORD SERVICES

 

I.             CLEANING.

 

Cleaning and janitorial services shall be provided as needed Monday through Friday, exclusive of holidays observed by the cleaning company and Saturdays and Sundays.

 

A.            OFFICE AREAS.

 

Cleaning and janitorial services to be provided in the office areas shall include:

 

1.             Vacuuming, damp mopping of resilient floors and trash removal.

 

2.             Dusting of horizontal surfaces within normal reach (tenant equipment to remain in place).

 

3.             High dusting and dusting of vertical blinds to be rendered as needed.

 

B.            LAVATORIES.

 

Cleaning and janitorial services to be provided in the common area lavatories of the building shall include:

 

1.             Dusting, damp mopping of resilient floors, trash removal, sanitizing of basins, bowls and urinals as well as cleaning of mirrors and bright work.

 

2.             Refilling of soap, towel, tissue and sanitary dispensers to be rendered as necessary.

 

3.             High dusting to be rendered as needed.

 

C.            MAIN LOBBIES, ELEVATORS, STAIRWELLS AND COMMON CORRIDORS.

 

Cleaning and janitorial services to be provided in the common areas of the building shall include:

 

1.             Trash removal, vacuuming, dusting and damp mopping of resilient floors and cleaning and sanitizing of water fountains.

 

2.             High dusting to be rendered as needed.

 

D.            WINDOW CLEANING.

 

All exterior windows shall be washed on the inside and outside surfaces semi-annually.

 

C-1

 

II.            HVAC.

 

A.            Heating, ventilating and air conditioning equipment will be provided with sufficient capacity to accommodate a maximum population density of one (1) person per one hundred fifty (150) square feet of useable floor area served, and a combined lighting and standard electrical load of 3.0 watts per square foot of useable floor area. In the event Tenant introduces into the Premises personnel or equipment which overloads the system’s ability to adequately perform its proper functions, Landlord shall so notify Tenant in writing and supplementary system(s) may be required and installed by Landlord at Tenant’s expense, if within fifteen (15) days Tenant has not modified its use so as not to cause such overload.

 

Operating criteria of the basic system shall not be less than the following:

 

(i)            Cooling season indoor temperatures of not in excess of 73 - 79 degrees Fahrenheit when outdoor temperatures are 91 degrees Fahrenheit ambient.

 

(ii)           Heating season minimum room temperature of 68 - 75 degrees Fahrenheit when outdoor temperatures are 6 degrees Fahrenheit ambient.

 

B.            Landlord shall provide heating, ventilating and air conditioning as normal seasonal changes may require during the hours of 8:00 a.m. to 6:00 p.m. Monday through Friday (legal holidays in all cases excepted).

 

If Tenant shall require air conditioning (during the air conditioning season) or heating or ventilating during any other time period, Landlord shall use landlord’s best efforts to furnish such services for the area or areas specified by written request of Tenant delivered to the Building Superintendent or the Landlord before 3:00 p.m. of the business day preceding the extra usage. Landlord shall charge Tenant for such extra-hours usage at reasonable rates customary for first-class office buildings in the Boston Suburban market, and Tenant shall pay Landlord, as Additional Rent, upon receipt of billing therefor.

 

III.          ELECTRICAL SERVICES.

 

A.            Landlord shall provide electric power for a combined load of 3.0 watts per square foot of useable area for lighting and for office machines through standard receptacles for the typical office space.

 

B.            In the event that Tenant has special equipment (such as computers and reproduction equipment) that requires either 3-phase electric power or any voltage other than 120 volts, or for any other usage in excess of 3.0 watts per square foot, Landlord may at its option require the installation of separate metering (Tenant being solely responsible for the costs of any such separate meter and the installation thereof) and direct billing to Tenant for the electric power required for any such special equipment.

 

C.            Landlord will furnish and install, at Tenant’s expense, all replacement lighting tubes, lamps and ballasts required by Tenant. Landlord will clean lighting fixtures on a regularly scheduled basis at Tenant’s expense.

 

C-2

 

IV.          ELEVATORS.

 

Provide passenger elevator service.

 

V.            WATER.

 

Provide hot water for lavatory purposes and cold water for drinking, lavatory and toilet purposes.

 

VI.          CARD ACCESS SYSTEM.

 

Landlord will provide a card access system at one entry door of the Building, giving Tenant access to the Building 24 hours per day, 365 days per year, except in case of emergency. Tenant will provide Landlord with a list of the names of Tenant’s employees to be given access cards prior to the one hundred eightieth (180th) day after the Commencement Date, and Landlord will provide Tenant with access cards for such employees at no cost to Tenant; thereafter, any access cards requested by Tenant will be charged to Tenant at the same rate which Landlord charges the other tenants in the Building.

 

C-3

 

EXHIBIT D, SHEET 1

 

FLOOR PLAN OF FOURTH FLOOR PREMISES

 

 

1

 

EXHIBIT D, SHEET 2

 

FLOOR PLAN OF THIRD FLOOR PREMISES

 

 

1

 

EXHIBIT E

 

DECLARATION AFFIXING THE COMMENCEMENT DATE OF LEASE

 

THIS AGREEMENT made this           day of                         , 20  , by and between [LANDLORD] (hereinafter “Landlord”) and [TENANT] (hereinafter “Tenant”).

 

W I T N E S S E T H  T H A T:

 

1.             This Agreement is made pursuant to Section 2.4 of that certain Lease dated [date], between Landlord and Tenant (the “Lease”).

 

2.             It is hereby stipulated that the Lease Term and Tenant’s obligation to pay Annual Fixed Rent commenced on [commencement date], (being the “Commencement Date” under the Lease), and shall end and expire on [expiration date], unless sooner terminated or extended, as provided for in the Lease.

 

WITNESS the execution hereof by persons hereunto duly authorized, the date first above written.

 

	
 
    	
 
    	
LANDLORD:
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
[INSERT   LL SIGNATURE BLOCK]
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
By:
    	
 
    
	
 
    	
 
    	
Name:
    	
 
    
	
 
    	
 
    	
Title:
    	
 
    
	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
TENANT:
    
	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    
	
ATTEST:
    	
 
    	
[TENANT]
    
	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
 
    
	
By:
    	
 
    	
 
    	
By:
    	
 
    
	
Name:
    	
 
    	
 
    	
Name:
    	
 
    
	
Title:
    	
 
    	
 
    	
Title:
    	
 
    
	
 
    	
 
    	
 
    	
Hereunto   duly authorized.
    

 

E-1

 

EXHIBIT F

 

FORMS OF LIEN WAIVERS

 

CONTRACTOR’S PARTIAL WAIVER AND SUBORDINATION OF LIEN

 

	
STATE   OF
    	
 
    	
 
    	
Date:
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
COUNTY
    	
 
    	
Application for Payment No.:
    	
 
    
							

 

	
OWNER:
    	
 
    
	
 
    	
 
    
	
CONTRACTOR:
    	
 
    
	
 
    	
 
    
	
LENDER   / MORTGAGEE:
    	
None
    

 

	
1.
    	
Original   Contract Amount:
    	
$
    	
 
    
	
 
    	
 
    	
 
    	
 
    
	
2.
    	
Approved   Change Orders:
    	
$
    	
 
    
	
 
    	
 
    	
 
    	
 
    
	
3.
    	
Adjusted   Contract Amount:
    	
$
    	
 
    
	
 
    	
(line   1 plus line 2)
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    
	
4.
    	
Completed   to Date:
    	
$
    	
 
    
	
 
    	
 
    	
 
    	
 
    
	
5.
    	
Less   Retainage:
    	
$
    	
 
    
	
 
    	
 
    	
 
    	
 
    
	
6.
    	
Total   Payable to Date:
    	
$
    	
 
    
	
 
    	
(line   4 less line 5)
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    
	
7.
    	
Less   Previous Payments:
    	
$
    	
 
    
	
 
    	
 
    	
 
    	
 
    
	
8.
    	
Current   Amount Due:
    	
$
    	
 
    
	
 
    	
(line   6 less line 7)
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    
	
9.
    	
Pending   Change Orders:
    	
$
    	
 
    
	
 
    	
 
    	
 
    	
 
    
	
10.
    	
Disputed   Claims:
    	
$
    	
 
    

 

The undersigned who has a contract with                                               for furnishing labor or materials or both labor and materials or rental equipment, appliances or tools for the erection, alteration, repair or removal of a building or structure or other improvement of real property

 

F-1

 

known and identified as located in                    (city or town),                County,                                                and owned by                       , upon receipt of            ($          ) in payment of an invoice/requisition/application for payment dated                    does hereby:

 

(a)                                 waive any and all liens and right of lien on such real property for labor or materials, or both labor and materials, or rental equipment, appliances or tools, performed or furnished through the following date                        (payment period), except for retainage, unpaid agreed or pending change orders, and disputed claims as stated above;

 

(b)                                 subordinate any and all liens and right of lien to secure payment for such unpaid, agreed or pending change orders and disputed claims, and such further labor or materials, or both labor and materials, or rental equipment, appliances or tools, except for retainage, performed or furnished at any time through the twenty-fifth day after the end of the above payment period, to the extent of the amount actually advanced by the above lender/mortgagee through such twenty-fifth day.

 

Signed under the penalties of perjury this           day of          , 20  .

 

	
WITNESS:
    	
 
    	
CONTRACTOR:
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
 
    
	
Name:
    	
 
    	
 
    	
Name:
    	
 
    
	
Title:
    	
 
    	
 
    	
Title:
    	
 
    

 

F-2

 

SUBCONTRACTOR’S LIEN WAIVER

 

	
General   Contractor:
    	
 
    
	
 
    	
 
    
	
Subcontractor:
    	
 
    
	
 
    	
 
    
	
Owner:
    	
 
    
	
 
    	
 
    
	
Project:
    	
 
    
	
 
    	
 
    	
 
    
	
Total   Amount Previously Paid:
    	
$ 
    	
 
    
	
 
    	
 
    	
 
    
	
Amount   Paid This Date:
    	
$ 
    	
 
    
	
 
    	
 
    	
 
    
	
Retainage   (Including This Payment) Held to Date:
    	
$ 
    	
 
    
				

 

In consideration of the receipt of the amount of payment set forth above and any and all past payments received from the Contractor in connection with the Project, the undersigned acknowledges and agrees that it has been paid all sums due for all labor, materials and/or equipment furnished by the undersigned to or in connection with the Project and the undersigned hereby releases, discharges, relinquishes and waives any and all claims, suits, liens and rights under any Notice of Identification, Notice of Contract or statement of account with respect to the Owner, the Project and/or against the Contractor on account of any labor, materials and/or equipment furnished through the date hereof.

 

The undersigned individual represents and warrants that he is the duly authorized representative of the undersigned, empowered and authorized to execute and deliver this document on behalf of the undersigned and that this document binds the undersigned to the extent that the payment referred to herein is received.

 

The undersigned represents and warrants that it has paid in full each and every sub-subcontractor, laborer and labor and/or material supplier with whom undersigned has dealt in connection with the Project and the undersigned agrees at its sole cost and expense to defend, indemnify and hold harmless the Contractor against any claims, demands, suits, disputes, damages, costs, expenses (including attorneys’ fees), liens and/or claims of lien made by such sub-subcontractors, laborers and labor and/or material suppliers arising out of or in any way related to the Project.

 

F-3

 

Signed under the penalties of perjury as of this            day of                     , 20  .

 

	
SUBCONTRACTOR:
    	
 
    	
Signature   and Printed Name of Individual
    
	
 
    	
 
    	
Signing   this Lien Waiver
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
WITNESS:
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    
	
Name:
    	
 
    	
 
    	
 
    
	
Title:
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    
	
Dated:
    	
 
    	
 
    	
 
    

 

F-4

 

CONTRACTOR’S WAIVER OF CLAIMS AGAINST OWNER AND ACKNOWLEDGMENT OF FINAL PAYMENT

 

	
Commonwealth   of Massachusetts
    	
Date:
    	
 
    
	
 
    	
 
    	
 
    	
 
    
	
COUNTY   OF
    	
 
    	
Invoice No.:
    	
 
    

 

	
OWNER:
    	
 
    
	
 
    	
 
    
	
CONTRACTOR:
    	
 
    
	
 
    	
 
    
	
PROJECT:
    	
 
    

 

 

	
1.
    	
Original   Contract Amount:
    	
$
    	
 
    
	
 
    	
 
    	
 
    	
 
    
	
2.
    	
Approved   Change Orders:
    	
$
    	
 
    
	
 
    	
 
    	
 
    	
 
    
	
3.
    	
Adjusted   Contract Amount:
    	
$
    	
 
    
	
 
    	
 
    	
 
    	
 
    
	
4.
    	
Sums   Paid on Account of Contract Amount:
    	
$
    	
 
    
	
 
    	
 
    	
 
    	
 
    
	
5.
    	
Less   Final Payment Due:
    	
$
    	
 
    

 

The undersigned being duly sworn hereby attests that when the Final Payment Due as set forth above is paid in full by Owner, such payment shall constitute payment in full for all labor, materials, equipment and work in place furnished by the undersigned in connection with the aforesaid contract and that no further payment is or will be due to the undersigned.

 

The undersigned hereby attests that it has satisfied all claims against it for items, including by way of illustration but not by way of limitation, items of: labor, materials, insurance, taxes, union benefits, equipment, etc. employed in the prosecution of the work of said contract, and acknowledges that satisfaction of such claims serves as an inducement for the Owner to release the Final Payment Due.

 

The undersigned hereby agrees to indemnify and hold harmless the Owner from and against all claims arising in connection with its Contract with respect to claims for the furnishing of labor, materials and equipment by others. Said indemnification and hold harmless shall include the reimbursement of all actual attorney’s fees and all costs and expenses of every nature, and shall be to the fullest extent permitted by law.

 

The undersigned hereby irrevocably waives and releases any and all liens and right of lien on such real property and other property of the Owner for labor or materials, or both labor and

 

F-5

 

materials, or rental equipment, appliances or tools, performed or furnished by the undersigned, and anyone claiming by, through, or under the undersigned, in connection with the Project.

 

The undersigned hereby releases, remises and discharges the Owner, any agent of the Owner and their respective predecessors, successors, assigns, employees, officers, shareholders, directors, and principals, whether disclosed or undisclosed (collectively “Releasees”) from and against any and all claims, losses, damages, actions and causes of action (collectively “Claims”) which the undersigned and anyone claiming by, through or under the undersigned has or may have against the Releasees, including, without limitation, any claims arising in connection with the Contract and the work performed thereunder.

 

Notwithstanding anything to the contrary herein, payment to the undersigned of the Final Payment Due sum as set forth above, shall not constitute a waiver by the Owner of any of its rights under the contract including by way of illustration but not by way of limitation guarantees and/or warranties. Payment will not be made until a signed waiver is returned to Owner.

 

The undersigned individual represents and warrants that he/she is the duly authorized representative of the undersigned, empowered and authorized to execute and deliver this document on behalf of the undersigned.

 

Signed under the penalties of perjury as of this     day of                 ,      .

 

	
 
    	
 
    	
Corporation
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
 
    
	
 
    	
Name:
    	
 
    
	
 
    	
Title:
    	
 
    
	
 
    	
 
    	
Hereunto   duly authorized
    
				

 

COMMONWEALTH OF MASSACHUSETTS

 

COUNTY OF SUFFOLK

 

On this     day of           , 20   , before me, the undersigned notary public, personally appeared                                                   , proved to me through satisfactory evidence of identification, to be the person whose name is signed on the preceding or attached document, and acknowledged to me that he/she signed it as                          for                     , a corporation/partnership voluntarily for its stated purpose.

 

	
 
    	
 
    	
 
    
	
NOTARY   PUBLIC
    	
 
    	
 
    
	
My   Commission Expires:
    	
 
    	
 
    

 

F-6

 

EXHIBIT G

 

PLAN OF PARKING AREA

 

G-1

 

 

 

EXHIBIT H

 

PROCEDURE FOR ALLOCATION OF COSTS OF
  ELECTRIC POWER USAGE BY TENANTS

 

This memo outlines the procedure for allocating charges for electric power for lights, plugs, heating, air conditioning and ventilation to the individual tenant premises within the Building.

 

1.                                      Main electric service will be provided by the local utility company to a central utility metering center. All charges by the utility will be read from these meters and billed to and paid by Landlord at rates established by the utility company.

 

2.                                      In order to assure that charges for electric service are allocated among tenants in relation to the relative amounts of electricity used by each tenant, meters (known as “check meters”) may be used to monitor tenant electric usage. On each floor there may be one or more check meter(s) serving all of the floor (separately or in conjunction with other floors), and on multi-tenant floors Landlord may require that the tenants (at Landlord’s sole cost and expense) install check meters relating to their premises (to the extent there are no check meters already serving such premises).

 

3.                                      Landlord will cause the check meters to be read periodically and will perform an analysis of such information for the purpose of determining whether any adjustments are required to achieve an allocation of the costs of electric service among the tenants in relation to the respective amounts of usage of electricity for those tenants. For this purpose, Landlord shall, as far as possible in each case, cause the check meters to be read to determine usage for periods that include one or more entire periods used by the utility company for the reading of the meters located within the central utility metering center (so that the Landlord may, in its discretion, choose periods that are longer than those used by the utility company — for example, quarterly, semi-annual or annual periods).

 

4.                                      Tenant’s share of electricity shall be determined by Landlord on the following basis:

 

a.                                      The cost of the total amount of electricity supplied for usage by tenants during the period being measured shall be determined by dividing the total cost of electricity through the central utility metering center as invoiced by the utility company, without mark-up by Landlord, for the same period by the total amount of kilowatt hour usage as measured by the meters located within the central utility metering center (herein called “Cost Per Kilowatt Hour”).

 

b.                                      Tenant’s allocable share of electricity costs for the period (“Tenant Electricity”) shall be determined by multiplying the Cost Per Kilowatt Hour by the number of kilowatt hours utilized by Tenant for such period as indicated by the check meter(s) for Tenant’s Premises.

 

c.                                       Where a check-meter measures electricity delivered to more than one tenant, and where some but not all of the tenant spaces running off such check-meter are not separately sub-check-metered, the cost of Tenant Electricity for tenant spaces that are not separately sub-check-metered shall first be determined by the same procedure as set forth in paragraph (b) above (after

 

H-1

 

subtracting out the usage shown on any sub-check-meter that runs off such primary check-meter, with the result being the “Net Check-Meter Usage”), and then the allocable share of each tenant served by that check-meter whose space is not separately sub-check-metered shall be determined by multiplying the total costs of Tenant Electricity for the Net Check-Meter Usage by a fraction, the numerator of which is the rentable area leased to such tenant and the denominator of which is the total rentable area under lease from time to time to tenants on said check-meter (other than those who are separately sub-check metered); provided, however, that if Landlord shall reasonably determine that the cost of electricity furnished to the Tenant at the Premises exceeds the amount being paid under this Subsection (c), then Landlord shall charge Tenant for such excess and Tenant shall promptly pay the same upon billing therefor as Additional Rent under the Lease.

 

d.                                      Where part or all of the rentable area served by a check-meter has been occupied for less than all of the period for which adjustments are being made, appropriate and equitable modifications shall be made to the allocation formula so that each tenant’s allocable share of costs equitably reflects its period of occupancy, provided that in no event shall the total of all costs as allocated to tenants (or to unoccupied space) be less than the total cost of Tenant Electricity for said period.

 

e.                                       Tenant shall make estimated payments on account of Tenant Electricity, as reasonably estimated by Landlord, on a monthly basis at the same time and in the same manner as Tenant’s monthly installments of Annual Fixed Rent.

 

5.                                      a.                                      Tenant shall pay to Landlord Tenant’s allocable share of Tenant Electricity costs for the period within thirty (30) days after billing therefor.

 

b.                                      In lieu of making payments as provided in subsection (a) above, at Landlord’s option and upon prior written notice to Tenant, Tenant shall pay to Landlord an amount from time to time reasonably estimated by Landlord to be sufficient to cover, in the aggregate, a sum equal to the Tenant’s allocable share of Tenant Electricity costs for each calendar year during the Lease Term. No later than one hundred twenty (120) days after the end of the first calendar year or fraction thereof ending December 31 and of each succeeding calendar year during the Lease Term or fraction thereof at the end of the Lease Term, Landlord shall render Tenant a statement in reasonable detail certified by an officer of Landlord, showing for the preceding calendar year or fraction thereof, as the case may be, the Tenant’s allocable share of Tenant Electricity costs. Said statement to be rendered to Tenant also shall show for the preceding year or fraction thereof, as the case may be, the amounts already paid by Tenant on account of Tenant’s allocable share of Tenant Electricity costs and the amount of Tenant’s allocable share of Tenant Electricity costs remaining due from, or overpaid by, Tenant for the year or other period covered by the statement. If such statement shows a balance remaining due to Landlord, Tenant shall pay same to Landlord on or before the thirtieth (30th) day following receipt by Tenant of said statement. Any balance shown as due to Tenant shall be credited against Annual Fixed Rent next due, or refunded to Tenant if the Lease Term has then expired and Tenant has no further obligation to Landlord. Payments by Tenant on account of Tenant’s allocable share of Tenant Electricity costs shall be deemed Additional Rent and shall be made monthly at the time and in the fashion herein provided for the payment of Annual Fixed Rent.

 

H-2

 

Tenant shall be required to maintain any meter located within its Premises. Further, Tenant agrees that it will not make any material alteration or material addition to any such meter without the prior written consent of Landlord in each instance first obtained, which consent will not be unreasonably withheld, conditioned or delayed, and will promptly advise Landlord of any other alteration or addition to such check meter.

 

H-3

 

EXHIBIT I

 

FORM OF CERTIFICATE OF INSURANCE

 

I-1

 

 

 

EXHIBIT J

 

LIST OF MORTGAGES

 

None.

 

J-1

 

EXHIBIT K

 

BROKER DETERMINATION

 

Where in the Lease to which this Exhibit is attached provision is made for a Broker Determination of Extension Annual Market Rent or the Expansion Annual Market Rent, the following procedures and requirements shall apply:

 

1.             Tenant’s Request.  Tenant shall send a notice to Landlord by the time set for such notice in the applicable section of this Lease, requesting a Broker Determination of the Extension Annual Market Rent or the Expansion Annual Market Rent, as the case may be, which notice shall: (i) make explicit reference to this Lease and to the specific section of this Lease pursuant to which said request is being made, and (ii) include the name of a broker selected by Tenant to act for Tenant, which broker shall be affiliated with an experienced Boston commercial real estate brokerage firm selected by Tenant and which broker shall have at least ten (10) years’ experience dealing in properties of a nature and type generally similar to the Building located in the Boston West Suburban Market.

 

2.             Landlord’s Response.  Within ten (10) days after Landlord’s receipt of Tenant’s notice requesting the Broker Determination and stating the name of the broker selected by Tenant, Landlord shall give written notice to Tenant of Landlord’s selection of a broker having at least the affiliation and experience referred to above.

 

3.             Selection of Third Broker.  Within ten (10) days thereafter the two (2) brokers so selected shall select a third such broker also having at least the affiliation and experience referred to above.

 

4.             Rental Value Determination.  Within thirty (30) days after the selection of the third broker, the three (3) brokers so selected, by majority opinion, shall make a determination of the Extension Annual Market Rent or the Expansion Annual Market Rent, as the case may be, of the applicable space for the applicable period of time under this Lease.  Such determination shall take into account all relevant factors, including, without limitation, (x) provision for annual increases in rent during said term if so determined, (y) the as-is condition and location in the Building of the applicable space, and shall also take account of, and be expressed in relation to, the tax and operating cost bases and provisions for paying for so-called tenant electricity as contained in this Lease.  The brokers shall advise Landlord and Tenant in writing by the expiration of said thirty (30) day period of the Extension Annual Market Rent or the Expansion Annual Market Rent, as the case may be, so determined.

 

5.             Resolution of Broker Deadlock.  If the Brokers are unable to agree at least by majority on said determination, then the brokers shall send a notice to Landlord and Tenant by the end of the thirty (30) day period for making said determination setting forth their individual determinations of the Extension Annual Market Rent or the Expansion Annual Market Rent, as the case may be, and the highest such determination and the lowest such determination shall be disregarded and the remaining determination shall be deemed to be the determination of the Extension Annual Market Rent or the Expansion Annual Market Rent, as the case may be.

 

K-1

 

6.             Broker Determination Binding Upon the Parties.  The parties hereby agree that any Broker Determination pursuant to this Exhibit K shall be conclusive and binding upon the parties and may be enforced by any court of competent jurisdiction.

 

7.             Costs.  Each party shall pay the costs and expenses of the broker selected by it and each shall pay one half (1/2) of the costs and expenses of the Third Broker.

 

8.             Failure to Select Broker or Failure of Broker to Serve.  If Tenant shall have requested a Broker Determination and Landlord shall not have designated a broker within the time period provided therefor above, and such failure shall continue for ten (10) days after written notice thereof, then Tenant’s broker shall request the Greater Boston Real Estate Board to designate Landlord’s broker.  If Tenant’s and Landlord’s brokers have been designated but the two brokers so designated do not, within a period of fifteen (15) days after the appointment of the second broker, agree upon and designate the third broker willing so to act, Tenant, Landlord or either broker previously designated may request the Greater Boston Real Estate Board, Inc. to designate the third broker willing so to act.  In case of the inability or refusal to serve of any person designated as a broker, or in case any broker for any reason ceases to be such, a broker to fill such vacancy shall be appointed by the Tenant, the Landlord, the brokers first appointed or the said Greater Boston Real Estate Board, Inc., as the case may be, whichever made the original appointment, or if the person who made the original appointment fails to fill such vacancy, upon application of any broker who continues to act or by the Landlord or Tenant, such vacancy may be filled by the said Greater Boston Real Estate Board, Inc.  Any broker appointed by the Greater Boston Real Estate Board, Inc., pursuant to the provisions hereof shall, for all purposes, have the same standing and powers as though he had been originally appointed by the party originally designated to make such appointment by the terms hereof.

 

K-2

 

EXHIBIT L

 

FLOOR PLAN OF FIRST EXPANSION SPACE, SECOND EXPANSION SPACE AND THIRD EXPANSION SPACE

 

 

L-1

 

EXHIBIT M

 

FORM OF LETTER OF CREDIT

 

[Letterhead of a money center bank acceptable to the Owner]

 

[Please note the tenant on this Letter of Credit must match the exact tenant entity in the Lease]

 

[date]

 

[Landlord]

c/o Boston Properties LP

800 Boylston Street, Suite 1900

Boston, Massachusetts 02199-8103

Attn: Lease Administration, Legal Dept.

 

Ladies and Gentlemen:

 

We hereby establish our Irrevocable Letter of Credit and authorize you to draw on us at sight for the account of [Tenant] (“Applicant”), the aggregate amount of [spell out dollar amount] and [    ]/100 Dollars [($                      )]. You shall have the right to make partial draws against this Letter of Credit from time to time.

 

Funds under this Letter of Credit are available to the beneficiary hereof as follows:

 

Any or all of the sums hereunder may be drawn down at any time and from time to time from and after the date hereof by [Landlord] (“Beneficiary”) when accompanied by this Letter of Credit and a written statement signed by an individual purporting to be an authorized agent of Beneficiary, certifying that such moneys are due and owing to Beneficiary, and a sight draft executed and endorsed by such individual.

 

This Letter of Credit is transferable in its entirety to any successor in interest to Beneficiary as owner of [Property, Address, City/Town, State]. Should a transfer be desired, such transfer will be subject to the return to us of this advice, together with written instructions. Any fees related to such transfer shall be for the account of the Applicant.

 

The amount of each draft must be endorsed on the reverse hereof by the negotiating bank. We hereby agree that this Letter of Credit shall be duly honored upon presentation and delivery of the certification specified above.

 

This Letter of Credit shall expire on [Final Expiration Date].

 

Notwithstanding the above expiration date of this Letter of Credit, the term of this Letter of Credit shall be automatically renewed for successive, additional one (1) year periods unless, at

 

M-1

 

least sixty (60) days prior to any such date of expiration, the undersigned shall give written notice to Beneficiary, by certified mail, return receipt requested and at the address set forth above or at such other address as may be given to the undersigned by Beneficiary, that this Letter of Credit will not be renewed.

 

If any instructions accompanying a drawing under this Letter of Credit request that payment is to be made by transfer to your account with another bank, we will only effect such payment by fed wire to a U.S. regulated bank, and we and/or such other bank may rely on an account number specified in such instructions even if the number identifies a person or entity different from the intended payee.

 

This Letter of Credit is governed by the Uniform Customs and Practice for Documentary Credits (1993 Revision), International Chamber of Commerce Publication 500.

 

Very truly yours,

 

[Name of Issuing Bank]

 

 

	
By:
    	
 
    	
 
    
	
Name:
    	
 
    	
 
    
	
Title:
    	
 
    	
 
    

 

M-2

 

FIRST AMENDMENT TO LEASE

 

FIRST AMENDMENT TO LEASE (the “First Amendment”) dated as of this 4th day of December, 2015 (the “Effective Date”), by and between BP BAY COLONY LLC, a Delaware limited liability company (“Landlord”) and BIT9, INC., a Delaware corporation (“Tenant”).

 

RECITALS

 

By Lease dated December 8, 2014 (the “Lease”), Landlord did lease to Tenant and Tenant did hire and lease from Landlord certain premises containing 61,490 square feet of rentable floor area (the “Rentable Floor Area of the Existing Premises”) on the third (3rd) and fourth (4th) floors (referred to herein as the “Existing Premises”) of the building known as and numbered 1100 Winter Street, Waltham, Massachusetts (the “Building”).

 

Tenant has exercised its rights under Sections 9.26 and 9.27 of the Lease to add the Second Expansion Space and the Third Expansion Space (as those terms are defined below) to the Existing Premises demised under the Lease, upon all of the same terms and conditions contained in the Lease except as otherwise provided in this First Amendment to Lease.

 

Landlord and Tenant are entering into this instrument to set forth said leasing of the Second Expansion Space and the Third Expansion Space, and to amend the Lease.

 

NOW THEREFORE, in consideration of One Dollar ($1.00) and other good and valuable consideration in hand this date paid by each of the parties to the other, the receipt and sufficiency of which are hereby acknowledged, and in further consideration of the mutual promises herein contained, Landlord and Tenant hereby agree to and with each other as follows:

 

1.                                      (A)                               Third Expansion Premises. Commencing on the Effective Date, Landlord hereby leases to Tenant and Tenant hereby leases from Landlord approximately 15,976 square feet of rentable floor area (the “Rentable Floor Area of the Third Expansion Space”) located on the third (3rd) floor of the Building, as more particularly shown on the floor plan attached to the Lease as Exhibit L (the “Third Expansion Space”). From and after the Effective Date, the “Tenant’s Premises” under the Lease and all references to the “Premises” in the Lease shall be deemed to include both the Third Expansion Space and the Existing Premises.

 

(B)                               Second Expansion Premises. Commencing on the Second Expansion Space Commencement Date (as hereinafter defined), Landlord hereby leases to Tenant and Tenant hereby leases from Landlord approximately 4,525 square feet of rentable floor area (the “Rentable Floor Area of the Second Expansion Space”) located on the third (3rd) floor of the Building, as more particularly shown on the floor plan attached to the Lease as Exhibit L (the “Second Expansion Space”). From and after the Second Expansion Space Commencement Date, the “Tenant’s Premises” under the Lease and all references to the “Premises” in the Lease shall be deemed to include the Second

 

Bay Colony\Amendments\Bit9 First Amendment(D)

 

1

 

Expansion Space, the Third Expansion Space and the Existing Premises (collectively, the “Expanded Premises”).

 

For the purposes hereof, the “Second Expansion Space Commencement Date” shall be the date on which the Second Expansion Space is delivered by Landlord to Tenant in the condition described in Section 6(A) below, currently estimated to be May 1, 2016 (the “Second Expansion Space Estimated Commencement Date”). Tenant acknowledges that there is an existing tenant (“CATO”) occupying the Second Expansion Space with a lease term scheduled to expire on April 30, 2016. If Landlord is unable to deliver the Second Expansion Space to Tenant in the condition required under this First Amendment on the Second Expansion Space Estimated Commencement Date, then the provisions of Section 9.28(g) shall apply; provided, however, that (a) if Landlord is unable to so deliver the Second Expansion Space to Tenant on or before May 15, 2016 (the “First Outside Date”), then Tenant shall receive a credit against Annual Fixed Rent for the Second Expansion Space equal to one-half (1/2) of one day of Annual Fixed Rent for the Second Expansion Space for each day after the First Outside Date until the earlier to occur of (i) June 1, 2016 (the “Second Outside Date”) and (ii) the Second Expansion Space Commencement Date and (b) if Landlord is unable to so deliver the Second Expansion Space to Tenant on or before the Second Outside Date, then Tenant shall receive a credit against Annual Fixed Rent for the Second Expansion Space equal to one (1) day of Annual Fixed Rent for the Second Expansion Space for each day following the Second Outside Date until the earlier to occur of (x) the Second Expansion Space Commencement Date and (y) the date on which Tenant first becomes entitled to exercise its termination option under Section 9.28(g) of the Lease. The foregoing rent credit and Tenant’s right of termination under said Section 9.28(g) shall be Tenant’s sole and exclusive remedies at law or in equity or otherwise for Landlord’s failure to deliver the Second Expansion Space to Tenant in the condition described in Section 6(A) below within the time periods set forth above.

 

As soon as may be convenient after the Second Expansion Space Commencement Date has been determined, Landlord and Tenant agree to join with each other in the execution, of a written Declaration Affixing the Second Expansion Space Commencement Date, in the form attached as Exhibit E to the Lease, in which the Second Expansion Space Commencement Date shall be stated. If Tenant shall fail to execute such Declaration Affixing the Second Expansion Space Commencement Date, the Second Expansion Space Commencement Date shall be as reasonably determined by Landlord in accordance with the terms of this First Amendment.

 

(C)                               Term. The Term of the Lease for the Second Expansion Space and the Third Expansion Space shall be coterminous with the Term of the Lease for the Existing Premises and shall expire on April 30, 2022 (the “Expiration Date”) unless sooner terminated as provided in Article V or Article VII or extended as provided in Section 9.24. Accordingly, the extension option contained in Section 9.24 of the Lease shall apply to the Existing Premises, the Second Expansion Space and the Third Expansion Space collectively and not to any such space independently.

 

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2.                                      (A)                               Annual Fixed Rent for the Existing Premises. From and after the Effective Date, Annual Fixed Rent for the Existing Premises shall continue to be due and payable, in the manner and at the times set forth in the Lease.

 

(B)                               Annual Fixed Rent for the Third Expansion Space. Commencing on the Third Expansion Space Rent Commencement Date (as hereinafter defined) through the Expiration Date, Annual Fixed Rent for the Third Expansion Space shall be equal to $694,956.00 (being the product of (i) $43.50 and (ii) the Rentable Floor Area of the Third Expansion Space), payable in the same manner and at the same times set forth in the Lease with respect to Annual Fixed Rent for the Existing Premises. For the purposes hereof, the “Third Expansion Space Rent Commencement Date” shall be the earlier to occur of (x) that date which is one hundred twenty (120) days following the Effective Date and (y) the date on which Tenant commences beneficial occupancy of the Third Expansion Space for its regular business operations. Notwithstanding that the Tenant’s obligation to pay Annual Fixed Rent with respect to the Third Expansion Space shall not commence until the Third Expansion Space Rent Commencement Date, Tenant shall be subject to, and shall comply with, all other provisions of the Lease applicable to the Third Expansion Space as and at the times provided in the Lease.

 

(C)                               Annual Fixed Rent for the Second Expansion Space. Commencing on the Second Expansion Space Rent Commencement Date (as hereinafter defined), through the Expiration Date, Annual Fixed Rent for the Second Expansion Space shall be equal to $169,687.50 (being the product of (i) $37.50 and (ii) the Rentable Floor Area of the Second Expansion Space), payable in the same manner and at the same times set forth in the Lease with respect to Annual Fixed Rent for the Existing Premises. For the purposes hereof, the “Second Expansion Space Rent Commencement Date” shall be the earlier to occur of (x) that date which is one hundred twenty (120) days following the Second Expansion Space Commencement Date and (y) the date on which Tenant commences beneficial occupancy of the Second Expansion Space for its regular business operations. Notwithstanding that Tenant’s obligation to pay Annual Fixed Rent with respect to the Second Expansion Space shall not commence until the Section Expansion Space Rent Commencement Date, Tenant shall be subject to, and shall comply with, all other provisions of the Lease applicable to the Second Expansion Space as and at the times provided in the Lease.

 

(D)                               Annual Fixed Rent; Extended Term. During the Extended Term (if exercised), Annual Fixed Rent for the Expanded Premises shall be determined as provided in Section 9.24 of the Lease.

 

3.                                      Additional Rent; Second Expansion Space and Third Expansion Space. From and after the Effective Date and thereafter during the Term, Tenant shall continue to pay Additional Rent and all other amounts due under the Lease at the times and in the manner set forth in the Lease, except that:

 

(A)                               Commencing on the Effective Date, for purposes of computing the “Operating Expenses Allocable to the Premises”, “Base Operating Expenses Allocable to the

 

3

 

Premises”,  the “Base Taxes Allocable to the Premises” and “Landlord’s Tax Expenses Allocable to the Premises” solely with respect to the Third Expansion Space, the Rentable Floor Area of the Premises shall be equal to the Rentable Floor Area of the Third Expansion Space.

 

(B)                               Commencing on the Second Expansion Premises Commencement Date, for the purposes of computing Operating Expenses Allocable to the Premises”, “Base Operating Expenses Allocable to the Premises”, the “Base Taxes Allocable to the Premises” and “Landlord’s Tax Expenses Allocable to the Premises” with respect to the Second Expansion Space, the Rentable Floor Area of the Premises shall be equal to the Rentable Floor Area of the Second Expansion Space.

 

(C)                               For the purposes of computing Tenant’s payments for operating expenses, pursuant to Section 2.6 of the Lease, solely with respect to the Second Expansion Space and the Third Expansion Space, the definition of “Base Operating Expenses” shall mean Landlord’s Operating Expenses for calendar year 2016 (being the period from January 1, 2016 through December 31, 2016). The definition of Base Operating Expenses shall otherwise remain unchanged with respect to the Existing Premises.

 

(D)                               For the purposes of computing Tenant’s payments for real estate taxes pursuant to Section 2.7 of the Lease, solely with respect to the Second Expansion Space and the Third Expansion Space, the definition of “Base Taxes” shall mean Landlord’s Tax Expenses for fiscal year 2017 (being the period from July 1, 2016 through June 30, 2017). The definition of Base Taxes shall otherwise remain unchanged with respect to the Existing Premises.

 

4.                                      Electricity. Tenant shall be responsible for all electricity used and consumed in the Second Expansion Space and Third Expansion Space and shall pay for such costs in accordance with Section 2.8 and Exhibit H of the Lease.

 

5.                                      Parking. Effective as of the Effective Date, the “Number of Parking Spaces” available for Tenant’s use shall be increased from one hundred eighty-four (184) to two hundred thirty-two (232). Effective as of the Second Expansion Space Commencement Date, such number shall be further increased to two hundred forty-six (246) parking spaces.

 

6                                         (A)                               Delivery; Condition of Expansion Space. Tenant shall accept each of the Second Expansion Space and the Third Expansion Space in their as-is condition without any obligation on the Landlord’s part to perform any additions, alterations, improvements, demolition or other work therein or pertaining thereto; provided, however, that (i) Landlord deliver each such space to Tenant in vacant, broom clean condition free and clear of all debris and personal property and free of all tenants and parties in possession, and with all base Building systems serving such space in good working order and condition, and (ii) the foregoing shall not relieve Landlord of its maintenance and repair obligations under the Lease.

 

(B)                               Tenant’s Work. Subject to Section 6(A) above, Tenant, at is sole cost and

 

4

 

expense, shall perform all work necessary to prepare the Second Expansion Space and the Third Expansion Space for Tenant’s use and occupancy (the “Expansion Space Work”). Such Expansion Space Work shall be performed in accordance with the terms and provisions of Sections 1.1 and 1.2 of Exhibit B-1 to the Lease, as if such Expansion Space Work was the Tenant’s Work thereunder.

 

(C)                               Landlord’s Contribution. Landlord shall provide Tenant with (i) a special allowance equal to $212,675.00 (being the product of (x) $47.00 and (y) the Rentable Floor Area of the Second Expansion Space (being 4,525 square feet)) (the “Second Expansion Space Tenant Allowance”) and (ii) a special allowance equal to $718,920.00 (being the product of (x) $45.00 and (y) the Rentable Floor Area of the Third Expansion Space (being 15,976 square feet)) (the “Third Expansion Space Tenant Allowance”).  The Second Expansion Space Tenant Allowance and the Third Expansion Space Tenant Allowance are sometimes hereinafter referred to collectively as the “Expansion Space Allowances.”

 

Landlord shall provide Tenant with an additional allowance in the amount of $3,500.00 (the “Wiring and Cabling Removal Allowance”) to be utilized by Tenant towards the cost of identifying for removal and removing certain existing wiring and cabling from the Third Expansion Space as part of the Expansion Space Work (the “Wiring and Cabling Removal Work”).  Landlord and Tenant hereby agree to cooperate with each other in good faith to determine which wiring and cabling may be removed without impacting the base building or other tenant premises in the Building.

 

The Expansion Space Allowances and the Wiring and Cabling Removal Allowance shall be used and applied by Tenant solely towards the Costs (as that term is defined in Section 1.3 of Exhibit B-1  to the Lease) of the Expansion Space Work or the Wiring and Cabling Work, as applicable, and shall be subject to all of the terms and provisions of said Section 1.3 except as follows:

 

(i)                                     The Second Expansion Space Tenant Allowance shall be made available to Tenant from and after the Second Expansion Space Commencement Date and the Third Expansion Space Tenant Allowance and Wiring and Cabling Removal Allowance shall be made available to Tenant from and after the Third Expansion Space Commencement Date.

 

(ii)                                  Tenant may utilize the Expansion Space Allowances towards the Costs of the Expansion Space Work in either portion of such expansion space, as long as Tenant has utilized a minimum of $40 per square foot of the Expansion Space Allowance towards Expansion Space Work in each of the Second Expansion Space and the Third Expansion Space.

 

(iii)                               Landlord shall be under no obligation to disburse any portion of the Expansion Space Allowances or the Wiring and Cabling Removal Allowance for which a Requisition is received after the first anniversary of the Second Expansion Space Commencement Date.

 

5

 

7.                                      Amended Lease Terms. (A) Sections 9.25 and 9.26 of the Lease are hereby deleted from the Lease in their entirety and shall be null and void and of no further force or effect.

 

(B)                               Notwithstanding the fact that Tenant is exercising its rights under Section 9.27 of the Lease with respect to the Third Expansion Space as set forth in this First Amendment, Landlord and Tenant hereby agree that (i) Section 9.27 shall remain in full force and effect and shall now apply to the approximately 34,000 square feet of rentable area on the second (2nd) floor of the Building shown on Exhibit A attached hereto (the “Fourth Expansion Space”), and (ii) wherever in said Section 9.27 or in Section 9.28 the term “Third Expansion Space” is used, the term “Fourth Expansion Space” shall be substituted therefor.

 

8.                                      Security Deposit. It is acknowledged and agreed that Landlord is currently holding a Letter of Credit pursuant to Section 9.29 of the Lease in the face amount of One Million One Hundred Fifty-Two Thousand Nine Hundred Thirty-Seven and 50/100 Dollars ($1,152,937.50). Concurrently with the execution and delivery of this First Amendment, Tenant shall deliver to Landlord a new Letter of Credit or an amendment to the existing Letter of Credit that increases the total amount of the Letter of Credit by Two Hundred Eighty-Eight Thousand Two Hundred Fourteen and 50/100 Dollars ($288,214.50), so that the total security being held by Landlord pursuant to Section 9.29 of the Lease shall be One Million Four Hundred Forty-One Thousand One Hundred Fifty-Two and 00/100 Dollars ($1,441,152.00). The Letter of Credit, as increased pursuant to this Section 8, shall continue to be held by Landlord in accordance with Section 9.29 of the Lease.

 

9.                                      Brokerage Indemnity. (A) Tenant warrants and represents that Tenant has not dealt with any broker in connection with the consummation of this First Amendment except T3 Advisors (the “Broker”) and in the event any claim is made against Landlord relative to dealings by Tenant with any brokers other than the Broker, Tenant shall defend the claim against Landlord with counsel of Tenant’s selection first approved by Landlord (which approval will not be unreasonably withheld) and save harmless and indemnify Landlord on account of loss, cost or damage which may arise by reason of such claim.

 

(B)                               Landlord warrants and represents that Landlord has not dealt with any broker in connection with the consummation of this First Amendment, other than the Broker, and in the event any claim is made against Tenant relative to dealings by Landlord with brokers, Landlord shall defend the claim against Tenant with counsel of Landlord’s selection first approved by Tenant (which approval will not be unreasonably withheld) and  save harmless and indemnify Tenant on account of loss, cost or damage which may arise by reason of such claim. Landlord agrees that it shall be solely responsible for the payment of brokerage commissions to the Broker as further outlined in a separate agreement between Landlord and the Broker.

 

10.                               Capitalized Terms. Except as otherwise expressly provided herein, all capitalized terms used herein without definition shall have the same meanings  as are set forth in the Lease.

 

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11.                               Ratification. Except as herein amended the Lease shall remain unchanged and in full force and effect. All references to the “Lease” shall be deemed to be references to the Lease as herein amended.

 

12.                               Authority. Each of Landlord and Tenant hereby represents and warrants to the other that all necessary action has been taken to enter this First Amendment and that the person signing this First Amendment on its behalf has been duly authorized to do so.

 

13.                               Counterparts. The parties acknowledge and agree that this First Amendment may be executed by electronic signature, which shall be considered as an original signature for all purposes and shall have the same force and effect as an original signature. Without limitation, “electronic signature” shall include faxed versions of an original signature or electronically scanned and transmitted versions (e.g., via .pdf) of an original signature.

 

[Signatures appear on following page]

 

7

 

EXECUTED under seal as of the date and year first above written.

 

	
 
    	
 
    	
LANDLORD:
    
	
 
    	
 
    	
 
    
	
WITNESS:
    	
 
    	
BP   BAY COLONY LLC, a Delaware limited 
    
	
 
    	
 
    	
liability   company
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
BY:   BP BAY COLONY HOLDINGS LLC, a 
    
	
 
    	
 
    	
Delaware   limited liability company, its sole 
    
	
 
    	
 
    	
member
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
BY:   BOSTON PROPERTIES LIMITED
    
	
 
    	
 
    	
PARTNERSHIP,   a Delaware limited 
    
	
 
    	
 
    	
partnership,   its member
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
BY:   BOSTON PROPERTIES, INC., a
    
	
 
    	
 
    	
Delaware   Corporation, its general partner
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
BY:
    	
/s/   David C. Provost
    
	
 
    	
 
    	
Name:
    	
David C. Provost
    
	
 
    	
 
    	
Title:
    	
SVP
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
TENANT:
    
	
 
    	
 
    	
 
    
	
WITNESS:
    	
 
    	
BIT9, INC.
    
	
 
    	
 
    	
 
    
	
/S/ Eric Pyenson
    	
 
    	
By:   
    	
/s/   Gordon Pothier
    
	
 
    	
 
    	
Name:
    	
Gordon Pothier
    
	
 
    	
 
    	
Title: 
    	
VP Finance
    
					

 

 

[Signature page to First Amendment to Lease]

 

 

EXHIBIT A

 

Fourth Expansion SpaceExhibit 10.2

 

LEASE AGREEMENT   BY AND BETWEEN 201 SOUTH STREET OWNER LLC AND CARBON BLACK, INC. 201-207   SOUTH STREET, BOSTON, MASSACHUSETTS

    

 

Date: TABLE OF   CONTENTS ARTICLE 1 Basic Lease Information 4 ARTICLE 2 Demise 5 ARTICLE 3 Term   6 ARTICLE 4 Rent 7 ARTICLE 5 Use 7 ARTICLE 6 Improvements, Alterations And   Fixtures 8 ARTICLE 7 Repairs 10 ARTICLE 8 Laws, Ordinances, Requirements for   Public Authorities and Others 11 ARTICLE 9 Insurance 11 ARTICLE 10 Damage By   Fire Or Other Cause 13 ARTICLE 11 Assignment, Subletting, Mortgaging 14   ARTICLE 12 Limited Liability On Landlord 16 ARTICLE 13 Rules And Regulations   17 ARTICLE 14 Condemnation 17 ARTICLE 15 Entry, Right To Change Public   Portions Of The Building, Etc 17 ARTICLE 16 Bankruptcy 18 ARTICLE 17 Defaults   and Remedies and Waiver of Redemption 19 ARTICLE 18 Covenant Of Quiet   Enjoyment 22 ARTICLE 19 Subordination And Attornment 22 ARTICLE 20 Services   And Equipment 23 ARTICLE 21 Additional Rent For Increases In Real Estate   Taxes 25 ARTICLE 22 Additional Rent For Increases In Costs Of Operations 26   ARTICLE 23 Electric Services 30 2

    

 

ARTICLE 24   Broker 30 ARTICLE 25 Estoppel Certificate 30 ARTICLE 26 Surrender Of Premises   31 ARTICLE 27 Environmental Hazards 31 ARTICLE 28 Notices 32 ARTICLE 29   Inability To Perform 32 ARTICLE 30 Condition of the Premises; Allowance 33   ARTICLE 31 Security Deposit 33 ARTICLE 32 Arbitration 34 ARTICLE 33   Miscellaneous 35 ARTICLE 34 Right of First Offer 38 SCHEDULE A - THE LAND   SCHEDULE B - PREMISES SCHEDULE C - RULES AND REGULATIONS SCHEDULE D -   CLEANING SPECIFICATIONS SCHEDULE E-TENANT ALTERATION SPECIFICATIONS SCHEDULE   F - INTENTIONALLY OMITTED SCHEDULE G - FORM OF ESTOPPEL SCHEDULE H - FORM OF   COMMENCEMENT DATE AGREEMENT SCHEDULE I - CURRENT FORM OF SNDA 3

    

 

LEASE made this   1st day of March 2017 between 201 SOUTH STREET OWNER LLC, a Delaware limited   liability company {hereinafter "Landlord"), and CARBON BLACK, INC.   a Delaware corporation_ (hereinafter "Tenant"). WITNESSETH: ARTICLE   1 Basic Lease Information LANDLORD: LANDLORD'S ADDRESS: TENANT: TENANT'S   ADDRESS: PROPERTY MANAGER: BUILDING: LAND: PREMISES: PROPERTY: AGREED AREA OF   PREMISES: AGREED AREA OF BUILDING: TERM: 201 South Street Owner LLC c/o   ClearRock Properties LLC 1221 Avenue of the Americas, 20th Floor New York. NY   10020 Carbon Black, Inc. 1100 Winter Street Waltham, MA 02451 ClearRock   Properties LLC c/o Lincoln Property Company 60 South Street, Suite 1020   Boston, Massachusetts, 02111 201-207 South Street, Boston, MA The Land on   which the Project is located and which is described on Schedule A Space on   the 3rd floor of the Building as shown by the cross hatched area on Schedule   B attached hereto The Land and the Building Approximately 7,270 rentable   square feet 69,054 rentable square feet Four (4) years and the period from   the Commencement Date until the Rent Commencement Date and expiring on the   Expiration Date COMMENCEMENT DATE: See Section 3.014

    

 

RENT   COMMENCEMENT DATE: EXPIRATION DATE: LEASE YEAR: RENEWAL OPTION: SECURITY   DEPOSIT: PREPAID RENT: BASE RENT: BASE YEAR FOR OPERATING COSTS: TAX BASE   YEAR: TENANTS SHARE: BROKER: ADDITIONAL RENT Two (2) months after the earlier   to occur of (i) the date that is two (2) months after Commencement Date, or   (ii) the date that Tenant first commences business operations in the Premises   11:59 p.m. (E.S.T) on the last day of the 48th full month after the Rent   Commencement Date Each twelve (12) month period commencing on Rent   Commencement Date and on each anniversary thereof, provided that if the Rent   Commencement Date is not the first day of a month, then the first Lease Year   shall be the period from the Rent Commencement Date through the last day of   the 12(m) full month thereafter One (1) renewal term of three (3) years   $83,604.99 $26,959.58 (applicable to Month 1 of the Term) Lease Year 1:   $323,515.00 per year Lease Year 2: $330,785.00 per year Lease Year 3:   $338,055.00 per year Lease Year 4: $345,325.00 per year Calendar Year 2017   July 1,2017 to June 30, 2018 10.53% Jones Lang LaSalle and T3 Advisors All   sums other than Base Rent payable by Tenant to Landlord under this Lease,   including Tenant's Tax Payment, Tenant's Operating Payment, late charges,   overtime or excess service charges, damages, interest and other costs related   to Tenant's failure to perform any of its obligations under this Lease   ARTICLE 2 Demise Landlord hereby leases the Premises to Tenant and Tenant   hereby leases the Premises from Landlord for the Term. The Premises are   leased together with the appurtenances thereto, 5

    

 

including the   non-exclusive right to utilize in common with others, the lobbies, elevators,   sidewalks, walkways, common facilities, and other public portions of the   Property. ARTICLE 3 Term Section 3.01 The Commencement Date of the Lease   shall be a date selected by Tenant by written notice to Landlord, provided   that the Commencement Date shall be no later than June 1, 2017. Tenant shall   not be entitled to possession of the Premises prior to the Commencement Date.   Section 3.02 Tenant shall have the right to extend the Term for an additional   term (the "Extension Term") of three (3) years to commence on the   date following immediately the Expiration Date upon the same terms and   conditions as contained in this Lease except that the Base Rent shall be the   greater of (i) Fair Market Rent, or (ii) the amount of Base Rent that is   payable hereunder as of the Expiration Date, Tenant shall have no further   extension options and Landlord shall not be required to refurbish the   Premises nor provide any allowance therefor. Tenant shall give Landlord   written notice of its exercise not earlier than twelve (12) months and not   later than nine months prior to the original Expiration Date. Time is of the   essence with respect to such date. In order for Tenant's exercise of this   option to be effective, at the time it gives such notice and at the time the   extended term is to commence, this Lease must be in full force and effect and   Tenant shall not be in default, beyond applicable notice and cure periods, at   either time of any of the terms, covenants or conditions of this Lease. For   purposes of this Article 3, the term "Fair Market Rent" shall mean   the annual fair market rent per square foot for then being paid under renewal   leases for comparable space in the Building to tenants of comparable   financial standing, considering all relevant factors, including without   limitation the condition of the premises involved, floor location and floor   height. If comparable leases do not then exist in the Building, then   comparison shall be made to new, arms-length leases in comparable buildings   in downtown Boston, considering the same factors. The term   "Determination Date" shall mean the first date new Base Rent is   applicable for the Extension Term. The initial determination of Fair Market   Rent shall be made by Landlord. Landlord shall give written notice to Tenant   of the proposed Fair Market Rent of at least three (3) months prior to the   Determination Date. If Landlord's determination of Fair Market Rent is   greater than the amount of Base Rent that is payable hereunder as of the   Expiration Date, and Landlord and Tenant shall fail to agree upon the Fair   Market Rent proposed by Landlord within thirty (30) days after receipt by   Tenant of Landlord's notice thereof, then the Fair Market Rent shall be   determined in accordance with the arbitration and appraisal procedures set   forth below. In the event Landlord and Tenant are unable to agree upon Fair   Market Rent for the Premises, Landlord and Tenant shall agree on an   independent M.A.I, certified real estate appraiser experienced in appraising   major commercial office properties for major commercial institutions with at   least five years' experience as M.A.I, real estate appraisers in the downtown   Boston. If Landlord and Tenant are unable to agree on such an appraiser   within thirty (30) days, either party upon notice to the other party, may   request such appointment by the American Arbitration Association in Boston,   Massachusetts (or any successor thereto), or upon its failure, refusal or   inability to act, may apply for such appointment to a court of competent   jurisdiction. Within fifteen (15) day after such appraiser is agreed upon or   appointed, Landlord and Tenant shall each submit to the appraiser its   determination of Fair Market Rent, The appraiser shall select whichever of   Landlord's and Tenant's determination of Fair Market Rent he or she   determines is closest to Fair Market Rent. The appraiser shall not have the   power to select or designate any other amount as Fair Market Rent. Each party   shall pay its own counsel fees and 6

    

 

expenses, if   any, in connection with any arbitration or appraisal under this paragraph,   and the parties shall share equally all other expenses and fees of any such   arbitration, including the fees associated with the appraiser. The   determination rendered in accordance with the provisions of this paragraph   shall be final and binding in fixing the Fair Market Rent. The appraiser   shall not have the power to add to, modify, or change any of the provisions   of the Lease. If for any reason the Fair Market Rent shall not have been   determined prior to the Determination Date, then until the Fair Market Rent   shall have been finally determined, rent payable subsequent to the   Determination Date shall be equal to Fair Market Rent imposed by Landlord   plus the additional rent then payable by Tenant. Upon such final   determination of Fair Market Rent, an appropriate adjustment shall be made   reflecting such final determination, and Landlord or Tenant, as the case may   be, shall pay the other any overpayment or deficiency, as the case may be,   from the Determination Date to the date of such final determination. ARTICLE   4 Rent Section 4.01 Tenant covenants and agrees to pay Landlord without   further notice or demand (i) Base Rent in equal monthly installments in   advance on the first (1st) day of each month commencing on the Rent   Commencement Date, and (ii) Additional Rent, at the times and in the manner   set forth in this Lease, without any setoff, counterclaim, abatement or   deduction whatsoever other than as expressly set forth in this Lease, except   that the first installment of Base Rent shall be paid on the delivery of this   Lease. Tenant further agrees that all covenants and agreements to pay Rent as   set forth herein are independent of all other lease covenants and agreements   set forth in this Lease. Rent shall be paid to Landlord c/o the Property   Manager at the Property Manager's address set forth in the basic lease terms,   or such other place as Landlord may designate in writing in accordance with   Article 28 hereof. Base Rent and Additional Rent are hereinafter collectively   referred to as "Rent". Section 4.02 In the event that Tenant fails   to make any Rent payment on or before the tenth (10th) day of the month,   Tenant shall pay a late charge in the amount of four percent (4%) of the   amount due. In addition, all Base Rent, Additional Rent and other sums due   Landlord pursuant to this Lease which are not paid for more than ten (10)   days after the due date thereof shall bear interest from their respective due   dates until paid at the rate of twelve percent (12%) per annum("Default   Rate"). The foregoing shall be in addition to any other right or remedy   which may be available to Landlord in the event of default by Tenant. ARTICLE   5 Use Tenant shall only use the Premises for administrative, executive and   general business office purposes only. Tenant shall not at any time use or   occupy, or suffer or permit anyone to use or occupy, the Premises, or do or   permit anything to be done in the Premises, in any manner (i) which violates   the Certificate of Occupancy for the Premises or for the Building; (ii) which   causes injury to the Building or any equipment, facilities or systems   therein; (iii) which constitutes a violation of the laws and requirements of   any public authorities or the requirements of insurance bodies; (iv) which   impairs the character, reputation or appearance of the Building as a   first-class office Building; (v) which impairs the proper and economic maintenance,   operation and repair of the Building and/or its equipment, facilities or   systems, in excess of normal office use; or (vi) which unreasonably annoys or   inconveniences other tenants or occupants of the Building. 7

    

 

ARTICLE 6 Improvements.   Alterations And Fixtures Section 6.01 Tenant shall make no alterations,   installations, additions or improvements ("Alterations") in or to   the Premises, except as set forth below, without Landlord's prior written   consent, which consent shall not be unreasonably withheld, conditioned or   delayed, so long as such Alterations (i) are non-structural and do not affect   any Building Systems, (ii) affect only the Premises and are not visible from   outside of the Premises, (iii) do not affect the certificate of occupancy   issued for the Building or the Premises, and (iv) do not violate any   Requirement. Alterations of a purely decorative nature, such as painting or   wallpapering, and other alterations which do not require a building permit or   impact the Building's Systems, facade or structural elements ("Cosmetic   Alterations") and other Alterations which will not affect the structure   of the Building or Building systems outside of the Premises and that will   cost less than $50,000.00 shall not require Landlord's approval, but Tenant   shall provide Landlord with prior written notice thereof and the same shall   be required to comply with all other provisions of this Article 6 and with   the provisions of Schedule E hereof. "Building Systems" as used   herein means the mechanical, electrical, plumbing, sanitary, sprinkler,   heating, ventilation and air conditioning, security, life-safety, elevator   and other service systems or facilities of the Building up to the point of   connection of localized distribution to the Premises (excluding, however,   supplemental HVAC systems of tenants, sprinklers and the horizontal   distribution systems within and servicing the Premises and by which   mechanical, electrical, plumbing, sanitary, heating, ventilating and air   conditioning, security, life safety and other service systems are distributed   from the base Building risers, feeders, panelboards, etc. for provision of   such services to the Premises). All such Alterations shall be done at   Tenant's sole expense by Contractors reasonably acceptable to Landlord   (provided that Landlord shall have the right to designate the contractors   that Tenant uses for any work on the mechanical, electrical and plumbing   systems in the Building and the roof of the Building, as long as they are   reasonably competitive in price), at such times and in such manner as   Landlord may from time to time reasonably designate, and in full compliance   with all governmental authorities having jurisdiction thereof. All   Alterations made or affixed to the Building shall, unless the parties otherwise   agree in writing or Landlord elects otherwise {which election shall be made   at the time Landlord approves the plans for any Alteration, including   Tenant's initial Alterations to the Premises), become the property of   Landlord and remain upon, and be surrendered with the Premises at the   termination of this Lease. Alterations made by Tenant and designated by   Landlord to be removed shall be removed by Tenant at its sole expense and   Tenant shall restore the Premises to the condition prior to the installation   of such Alteration, reasonable wear and tear and damage by casualty and   condemnation excepted, prior to the termination of this Lease in accordance   with the provisions of Article 26. Notwithstanding anything herein to the   contrary, Landlord shall not require the removal of (i) any Alterations that   are normal office installations, or (ii) any Cosmetic Alterations. Landlord   will advise Tenant, when Landlord review's Tenant's plans and specifications   for the Tenant Work, as to whether any portion of the Tenant Work will be   required to be removed upon the termination of this Lease. Tenant shall   correct or replace any installation that causes on-going damage to any   Building facility or service. In the event that Tenant fails to correct such   installation, Landlord may make such correction and charge Tenant for the   cost thereof. Any reasonable sums so expended by Landlord shall be deemed   Additional Rent. Section 6.02 Prior to commencing any Alterations (unless   expressly stated to the contrary below), Tenant shall furnish to Landlord all   of the following: (a) Within ten (10) business days of completion of any work   performed by a party, unconditional waivers of mechanics' lien rights signed   by all parties to perform any work or furnish materials in connection with   any Alteration;

    

 

Copies of all   governmental permits and authorizations which may be required in connection   with such work; A certificate evidencing that Tenant's contractors have   procured employers' liability and workers' compensation insurance; Builder's   risk coverage in an amount equal to the cost of the Alterations and completed   operations coverages; Plans and specifications for such Alteration complying   with the provisions of ADA (except with respect to Cosmetic Alterations); and   At Landlord's request, with respect to any Alterations, other than Cosmetic   Alterations, that will cost more than $50,000.00, Tenant shall furnish to   Landlord a Payment and Performance Bond or other security reasonably   acceptable to Landlord. Section 6.03 Notwithstanding the provisions of   Section 6.02, if any mechanics' lien or attachment is filed against the   Property for work claimed to have been done for, or materials claimed to have   been furnished to Tenant, it shall be discharged by Tenant within ten (10)   business days after Tenant's receipt of written notice thereof, at Tenant's   sole cost. If Tenant fails to discharge such a mechanic's lien or attachment   within said ten (10) business day period, Tenant shall be in default   hereunder and Landlord, in addition to any other right it may have under   Article 17 hereof, may, but is not obligated to, discharge such lien or   attachment by payment without inquiring into the validity of said lien or   attachment. All reasonable out-of-pocket costs incurred by Landlord in   discharging any such lien or attachment shall be deemed Additional Rent.   Nothing in this Lease shall constitute an agreement by Landlord to be   responsible for or to pay for any amounts due to any of the Tenant's   contractors. Such contractors shall have no right to file any mechanics' lien   against Landlord's fee interest in the Property. Section 6.04 Tenant shall   have the right to install, at its sole cost and expense, a wireless intranet,   Internet, and communications network (also known as "Wi-Fi")   utilizing IEEE 802.XX protocols within the Premises for the use of Tenant and   its employees (the "Network") subject to the provisions of this   Article 6. All telecommunications service providers shall be subject to   Landlord's prior written approval, which shall not be unreasonably withheld,   conditioned or delayed. Tenant shall not solicit, suffer, or permit other   tenants or occupants of the Building to use the Network or any other   communications service, including, without limitation, any wired or wireless   Internet service that passes through, is transmitted through, or emanates   from the Premises. This Section 6.04(b) shall only apply to any service   obtained by Tenant. Tenant agrees that the Network, Tenant's communications   equipment and the communications equipment of Tenant's service providers   located in or about the Premises or installed in the Building to service the   Premises including, without limitation, any antennas, switches, or other   equipment (collectively, "Tenant's Communications Equipment") shall   be of a type and, if applicable, a frequency that will not cause radio   frequency, electromagnetic, or other interference to any other party or any   equipment of any other party including, without limitation, Landlord, other   tenants, or occupants of the Building as of the date of this Lease. Landlord   9

    

 

reserves the   right to cause Tenant to operate on a channel or frequency band that Landlord   reasonably selects. In the event that Tenant's Communications Equipment   causes or is reasonably believed by Landlord to cause any such interference,   upon receipt of written notice from Landlord of such interference, Tenant   will promptly take all steps necessary to correct and eliminate the   interference. If the interference is not eliminated within 24 hours (or a   shorter period if Landlord believes a shorter period to be appropriate) then,   upon written notice from Landlord, Tenant shall use other channels or   frequencies as reasonably determined by Landlord, or, if using other channels   or frequencies doesn't alleviate the problem, at Landlord's reasonable   election, shut down Tenant's Communications Equipment pending resolution of   the interference (with the exception of intermittent testing upon prior   notice to, and with the prior approval of, Landlord). Landlord shall have no   obligation or liability with respect to any such interruption, curtailment or   discontinuance of telecommunication services. If there is a dispute between   Landlord and Tenant as to any such interference, then either party may submit   such dispute to arbitration in accordance with the terms of Article 32 of   this Lease, except that the chosen arbitrator(s) shall be (an) engineer(s)   having at least 10 years of experience in telecommunications. Tenant shall   maintain Tenant's Telecommunications Equipment in good order and repair at   its sole cost and expense. Tenant acknowledges that Landlord has granted   and/or may grant lease rights, licenses, and other rights to other tenants   and/or occupants of the Building and to telecommunications service providers.   Section 6.05 Floor Load. Tenant shall not place a load upon any floor of the   Premises that exceeds 50 pounds per square foot "live load".   Landlord reserves the right to reasonably designate the position of all   equipment which Tenant wishes to place within the Premises, and to place   limitations on the weight thereof. ARTICLE 7 Repairs Section 7.01 Except to   the extent of Landlord's repair and maintenance obligations expressly set   forth in this Lease, including in Section 7.03 below, Tenant shall maintain   the Premises and all of the equipment and fixtures contained therein, and the   entry doors to the Premises, in good order and repair at its own cost and   expense, reasonable wear and tear and damage from casualty or condemnation   excepted. All damage to the Property caused by or resulting from Tenant's   moving property in or out of the Building or installation of furniture,   fixtures or other property, which is due to the negligence of Tenant, its   servants, employees, agents, visitors or licensees, reasonable wear and tear   excepted, shall be repaired (i.e., fixed; Tenant shall not be required to   upgrade anything) promptly by Tenant at its sole cost and expense to the   reasonable satisfaction of Landlord. Section 7.02 In the event that any   special equipment (such as supplemental air conditioning units or computer   facilities) or appliances (such as kitchen, pantries or exercise facilities)   are installed in the Premises, the servicing, maintenance, repair or   replacement of such equipment or appliances shall be the sole responsibility   of Tenant. Section 7.03 Landlord shall make and perform all structural and   other maintenance, repairs and replacements, in order to keep in good order   and repair the structure and exterior of the Building (within the Premises   and outside of the Premises, including without limitation 10

    

 

 windows, the roof of the Building and the   entry doors to the Building) and the public (i.e., common) portions of the   Property and the Building Systems, to the extent outside of the Premises and   any and all damage to the interior resulting from structural and/or defects   in the engineering, plumbing, wiring and other such components of the   building. The public portions of the Property shall include the public and/or   common halls and stairways, elevators, plumbing, wiring and other Building   Systems and equipment for the general supply of water, heat, air   conditioning, gas and electricity and other utilities servicing the Premises   and Landlord shall maintain such portions in good order and repair. ARTICLE 8   Laws. Ordinances. Requirements for Public Authorities and Others Tenant shall   comply in all material respects with ail applicable laws, orders, ordinances   and regulations of federal, state and municipal authorities and with any   direction made pursuant to law by any public officer that shall impose any   order or duty upon Landlord or Tenant with respect to Tenant's occupancy, use   or manner of use of the Premises (including any building or zoning laws   regarding Tenant's specific use thereof) ("Requirements").   Notwithstanding the foregoing, Tenant shall not be obligated to make   structural repairs or alterations to the Premises or those other common   portions of the Property used by Tenant in order to comply with applicable   Requirements, including without limitation the Americans with Disabilities   Act, unless the need for such repairs or alterations arises from (i) any   installations or Alterations made in the Premises by or at Tenant's request,   (ii) a breach of any of Tenant's covenants or agreements hereunder, or (iii)   the specific manner and nature of Tenant's use or occupancy of the Premises,   as distinguished from mere general office use. ARTICLE 9 Insurance Section   9.01 (a) Tenant shall at all times keep in full force and effect, at its own   expense, a policy or policies of: (i) Commercial General Liability insurance,   in occurrence form, covering bodily injury or death to persons and damage to   or destruction of property, and including contractual liability coverage for   Tenant's indemnity obligations required by this Lease to afford protection of   not less than $1,000,000 per occurrence and $2,000,000 combined single limit   in the aggregate for any one accident; (ii) Workers' Compensation insurance   as required by alt state and/or federal laws; (iii) Business Interruption   insurance; and (iv) "all-risk" property insurance on a   "replacement cost" basis with an agreed value endorsement covering   all Tenant's personal property and all improvements and betterments to the   Premises performed at Tenant's expense. (b) Such policies will be maintained   with companies having a "General Policyholders Rating" of at least   A-:VIII as set forth in the most current issue of "Best's Insurance   Guide," and will be written as primary policy coverage and not contributing   with, or in excess of, any ll

    

 

coverage which   Landlord shall carry. Tenant shall have the right to provide the coverages   required herein under blanket policies provided that the coverage afforded   Landlord shall not be diminished by reason thereof. No more frequently than   once every twenty four (24) months, Landlord shall have the right to review   the provisions of this Article and to require reasonable changes in the   amounts or types of insurance, or both, as it may deem reasonably necessary   in order to adequately protect its interests, provided that any such changes   are consistent with industry standards and coverages being required by   landlords of comparable buildings in downtown Boston at the time. Section   9.02 Tenant shall, prior to the Commencement Date, cause to be delivered to   Landlord a certificate of insurance providing evidence of coverages required   to be maintained hereunder. If commercially available to Tenant, any   insurance policy required of Tenant under this Lease shall provide or contain   an endorsement that the insurer will deliver to Landlord a minimum of ten   (10) days prior written notice of cancellation or material reduction in   coverage, and in any event, Tenant shall provide Landlord with at least   thirty (30) days' prior written notice of any cancellation or material   reduction in coverage under Tenant's insurance. Renewal certificates shall be   furnished to Landlord at least thirty (30) days prior to the expiration date   of each policy. All such certificates shall indicate that Landlord and others   designated by Landlord are an additional insured with respect to the   Commercial General Liability coverage. Section 9.03 All insurance policies   required by this Article 9 shall contain a waiver by the insurer of any   rights of subrogation to any cause of action (including negligent acts)   against the Tenant or Landlord (as the case may be). Further, and   notwithstanding anything in this Lease to the contrary, each party waives any   claim or cause of action against the other party hereto arising from any loss   or damage to property which is covered by such insurance or which could be   covered by such insurance but only insofar as such party is compensated by   such insurance for such loss or damage if either party self-insures. Section   9.04 All furnishings, fixtures, equipment and property of every kind and   description of Tenant and of persons claiming by or through Tenant which may   be on the Premises shall be at the sole risk and hazard of Tenant and no part   of loss or damage thereto for whatever cause is to be charged to or borne by   Landlord, unless caused by the gross negligence of Landlord or Landlord's   agents or employees. Section 9.05 Tenant shall not cause or permit any action   or condition that would (i) invalidate or conflict with Landlord's insurance   policies, (ii) violate applicable rules, regulations and guidelines of the   Fire Department, fire insurance rating organization or any other authority   having jurisdiction over the Building, (iii) cause an increase in the   premiums of fire insurance for the Building over that payable with respect to   Comparable Buildings, or (iv) result in Landlord's insurance companies'   refusing to insure the Building or any property therein in amounts and   against risks as reasonably determined by Landlord. If fire insurance   premiums increase as a result of Tenant's failure to comply with the   provisions of this Section 8.1, Tenant shall promptly cure such failure and   shall reimburse Landlord for the increased fire insurance premiums paid by   Landlord as a result of such failure by Tenant. Section 9.06 If the Fire   Insurance Rating Organization or any Governmental Authority or any of   Landlord's insurers requires or recommends any modifications and/or   alterations be made or any additional equipment be supplied in connection   with the sprinkler system or fire alarm and life-safety system serving the   Building solely by reason of Tenant's business, any Alterations performed by   Tenant or the location of the partitions, Tenant's Property, or other   contents of the Premises, Landlord (to the extent outside of the Premises) or   Tenant (to the 12

    

 

extent within   the Premises) shall make such modifications and/or Alterations, and supply   such additional equipment, in either case at Tenant's expense. Section 9.07   Landlord shall maintain such insurance as shall be required by Landlord's   institutional first mortgagee, and absent an institutional first mortgagee,   not less than the following insurance, the costs of which shall be include in   the Cost of Operation: all risk property insurance and commercial general   liability insurance in limits reasonably determined by Landlord. ARTICLE 10   Damage By Fire Or Other Cause Section 10.01 If the Premises are partially   damaged or rendered partially untenantable by fire or other cause without the   fault or neglect of Tenant, Rent shall be apportioned according to the part   of the Premises which is usable by Tenant for its normal business operations   until the Premises are repaired and restored by Landlord to its condition as   existed at the time of completion of the Punchlist items following the   Commencement Date in accordance with Section 10.04. Section 10.02 If the   Premises are totally or substantially damaged or are rendered wholly or   substantially untenantable (by reason of damage to the Premises and/or the   Building) by fire or other cause, then Rent shall be paid up to the time of   occurrence of such condition and Tenant's obligation to pay Rent thenceforth   shall cease until the Premises and, if affected, access thereto, are repaired   and restored by Landlord to its condition as existed at the time of   completion of the Punchlist items following the Commencement Date, subject to   the provision of Section 10.04. Section 10.03 If, at any time during the   Term, the Premises are damaged or are rendered wholly or substantially   untenantable (by reason of damage to the Premises and/or the Building) by   fire or other cause and Landlord decides not to restore the same or if the   Building shall be so damaged (whether or not the Premises have been damaged)   that Landlord and its engineers or contractors do not expect to be able to   repair/restore the Building and/or the Premises within two hundred seventy   (270) days of the date of the casualty, then either Landlord or Tenant may   elect to terminate this Lease within thirty (30) days of Tenant's receipt of   written notice from Landlord of such determination. Landlord shall provide   such determination within thirty (30) days following the date of the casualty   and in the event that Landlord fails to do so, Tenant shall have the right to   obtain the same from an independent engineer or contractor; any such   determination from an engineer or contractor obtained by Tenant shall be   subject to Landlord's reasonable approval. Moreover, in the event that Landlord   shall decide to demolish or not to rebuild the Premises, and Landlord is   terminating all leases in the Building at the same time, then Landlord may,   within ninety (90) days after the occurrence of such condition, give Tenant a   notice in writing of such decision. In addition, if Landlord has elected to   restore the damage, and Tenant either didn't have a right to terminate this   Lease pursuant to this Section 10.03 or had a right to terminate this Lease   pursuant to this Section 10.03 but did not exercise such right, then Tenant   shall have a further right to terminate this Lease if the damage to the   Premises or access thereto is not substantially restored within a period of   time, from the date of Landlord's estimate of the restoration time, if the   estimate was for less than two hundred seventy (270) days, or from the date   that Tenant elected not to terminate this Lease, if the estimate was for two   hundred seventy (270) days or more, equal to the time of the estimate, plus   25%. Upon the third day after the giving of such notice, this Lease shall   terminate by lapse of time as fully and completely as if such date were the   Expiration Date hereunder. Tenant shall then forthwith quit, surrender and   vacate the Premises without prejudice, however, to each of 13

    

 

Landlord's and   Tenant's right and remedies against the other under the Lease provisions in   effect prior to such termination. If the damage or destruction is due to the   fault or neglect of Tenant, the debris shall be removed from the Premises by,   and at the expense of, Tenant. Section 10.04 Unless Landlord or Tenant shall   serve a termination notice as provided for in Section 10.03, Landlord shall   make the repairs and restorations under the conditions of Section 10.01 and   Section 10.02, with all reasonable expedition, subject to reasonable delays   due to adjustment of insurance claims, provisions of any superior mortgage,   labor troubles, or any other cause beyond Landlord's control. No damages,   compensation or claims shall be payable by Landlord for delay, inconvenience,   loss of business or annoyance arising from any such restoration. Section   10.05 Notwithstanding anything to the contrary in this Article 10, if any   damage during the final 12 months of the Term renders the Premises substantially   untenantable, either Landlord or Tenant may terminate this Lease by notice to   the other party within 30 days after the occurrence of such damage and this   Lease shall expire on the 30th day after the date of such notice. For   purposes of this Section 10.05, the Premises shall be deemed substantially   untenantable if Tenant shall be precluded from using more than 50% of the   Premises for the conduct of its business and Tenant's inability to so use the   Premises is reasonably expected to continue for more than 90 days. Section   10.06 Neither Landlord, Property Manager nor any of their affiliates shall be   liable for any injury or damage to persons or property or interruption of   Tenant's business resulting from fire or other casualty, any damage caused by   other tenants or persons in the Building or by construction of any private,   public or quasi-public work, or any latent defect in the Premises or in the   Building (except that Landlord shall be required to repair the same to the   extent otherwise provided in this Lease). No penalty shall accrue for delays   which may arise by reason of adjustment of fire insurance on the part of   Landlord or Tenant, or for any Unavoidable Delays arising from any repair or   restoration of any portion of the Building, provided that Landlord shall use   reasonable efforts to minimize interference with Tenant's use and occupancy   of, and access to, the Premises during the performance of any such repair or   restoration. "Unavoidable Delays" for purposes of this section   shall mean Landlord's inability to fulfill or delay in fulfilling any of its   obligations under this Lease expressly or impliedly to be performed by   Landlord or Landlord's inability to make or delay in making any repairs,   additions, alterations, improvements or decorations or Landlord's inability   to supply or delay in supplying any equipment or fixtures, if Landlord's   inability or delay is due to or arises by reason of strikes, labor troubles   or by accident, or by any cause whatsoever beyond Landlord's reasonable   control, including governmental preemption in connection with a national   emergency, Requirements or shortages, or unavailability of labor, fuel,   steam, water, electricity or materials, or delays caused by Tenant or other   tenants, mechanical breakdown, acts of God, enemy action, civil commotion,   fire or other casualty. ARTICLE 11 Assignment Subletting. Mortgaging Section   11.01 Tenant will not by operation of law or otherwise assign, mortgage or   encumber this Lease, nor sublet or permit the Premises or any part thereof to   be used by others, without Landlord's prior written consent in each instance,   which shall not be unreasonably withheld, conditioned or delayed. Landlord's   consent to any assignment or subletting shall not in any manner be construed   to relieve Tenant from obtaining Landlord's express written consent to any   other or further assignment or subletting. Notwithstanding the foregoing,   Landlord's consent to any assignment of this Lease or sublease of the   Premises shall 14

    

 

not be required   in connection with any assignment or sublease to an Affiliate or to a company   that results from a merger, consolidation or other similar corporate   transaction, or to a company that purchases all or substantially all of   Tenant's assets (collectively, ail of the foregoing constituting a   "Permitted Transfer"), provided that in order to constitute a   Permitted Transfer, such assignee or sublessee must specifically agree in a   writing delivered to Landlord to assume the obligations of Tenant with   respect to the Premises so transferred and, provided further the net worth of   any such entity resulting from a merger, consolidation or other similar   corporate transaction, or purchaser of all or substantially all of Tenant's   assets, calculated in accordance with generally accepted accounting   principles, as of the date of the corporate transaction, is at least equal to   the net worth of Tenant, similarly calculated on the Commencement Date or the   corporate transaction date, whichever is greater. Tenant shall give Landlord   at least ten (10) days prior written notice of any such assignment or   sublease, including an executed copy of the assignment and assumption   agreement or sublease, as applicable, or such corporate transaction,   including an executed copy of the transaction documents. An "Affiliate"   shall mean any entity the Controls Tenant, any entity that Tenant controls   and any entity that is under common Control as Tenant. "Control"   shall mean more than 50% ownership, with respect to any non-publicly traded   company, and more than 10% ownership, plus management control, with respect   to any publicly traded company. Upon obtaining a proposed assignee or   subtenant, upon terms satisfactory to Tenant, Tenant shall submit to   Landlord: (i) a copy of the fully executed proposed assignment or sublease;   (ii) a description of the nature and character of the business of the   proposed assignee or subtenant; (iii) such financial information as it has   obtained; and (iv) such other reasonably available information as Landlord   may request Landlord's consent to any such proposed assignment or subletting   shall not be unreasonably withheld, conditioned or delayed provided that (i)   the proposed assignee or subtenant's use and character are in Landlord's   reasonable opinion in keeping with the character of the Building (ii) the   proposed assignee or subtenant is creditworthy, in Landlord's reasonable   opinion; (iii) the proposed assignee or subtenant is not another tenant or   occupant of the Building; (iv) the proposed assignee or subtenant is not a   person or entity with whom Landlord is negotiating for the lease of space in   the Building or with whom Landlord has so negotiated in the prior six (6)   months; and (v) Landlord's mortgagee consents to such agreement or sublease,   if required. Landlord's consent to any assignment or sublease, if given,   shall be evidenced only in a written agreement provided by Landlord and   signed by Landlord, Tenant and its assignee or subtenant, as the case may be.   Any such Landlord consent shall be conditioned on Tenant reimbursing Landlord   for Landlord's reasonable legal fees in connection with the requested   consent, not to exceed $2,000.00, as long as no unusual legal issues are   presented and the documents involved do not have the effect of amending this   Lease. Except in connection with a Permitted Transfer, in the event that   Tenant proposes to assign this Lease or sublease all or substantially all of   the Premises for all or substantially all of the remainder of the Term,   Landlord shall have the option, to be exercised within thirty (30) days from   submission by Tenant of all of the information required in the previous   paragraph, to cancel and terminate this Lease as of the earlier of: (a)   thirty (30) days after Landlord gives Tenant notice intention to cancel the   Lease or (b) thirty (30) days after the date proposed by Tenant for the   commencement of any assignment or subletting, subject to Tenant's right to   notify Landlord within thirty (30) days of such notice of its withdrawal and   retraction of its proposed assignment or sublease Section 11.02 If this Lease   shall be assigned, or if the Premises or any part thereof shall be sublet or   occupied by any person or persons other than Tenant, Tenant shall continue to   be liable for the performance of all the provisions of this Lease. Landlord   may, after default by 15

    

 

Tenant beyond   applicable notice and cure periods, collect Rent from the assignee, subtenant   or occupant and apply the net amount collected to the Rent herein reserved,   but no such assignment, subletting, occupancy or collection of Rent shall be   deemed a waiver of the covenants in this Article 11, nor shall it be deemed   acceptance of the assignee, subtenant or occupant as a tenant or a release of   Tenant from the full performance by Tenant of all the terms, conditions and covenants   of this Lease. Section] 1.03 If the rent and other sums, either initially or   over the term of any assignment or sublease, payable by such assignee or   subtenant to Tenant on account of an assignment or sublease of atl or any   portion of the Premises, minus reasonable third party costs expended by   Tenant in connection with such assignment or sublease, including without   limitation any costs of improving the Premises or providing any allowance   therefor, all commercially reasonable brokerage fees payable in connection   therewith, and reasonable attorney's fees, exceed the sum of Rent called for   hereunder with respect to the space assigned or sublet, Tenant shall pay to   Landlord, as Additional Rent, fifty (50%) percent of such excess payable   monthly at the time for payment of Rent. If an assignment or sublease   includes any rent abatement or concession, no rent shall be attributed to the   period for the abatement or concession for purposes of determining any   amounts due to landlord under this Section 11.03. ARTICLE 12 Limited   Liability On Landlord Section 12.01 Landlord shall not be liable for any   damage to property of Tenant or of others entrusted to employees of the   Building, or for the loss or damage to any property of Tenant by theft or   otherwise. Landlord shall not be liable for any injury or damage to persons   or property resulting from fire, explosion, falling plaster, steam, gas,   electricity, rain, snow, or other of the elements, water or leaks from any   part of the Building or from the pipes, appliances or plumbing works or from   the roof, street or subsurface or from any other place or by dampness or by   any other cause of whatsoever nature, unless caused by or due to the   negligence or willful misconduct of Landlord or Landlord's employees, agents,   contractors and invitees. Section 12.02 In any situation in which Tenant   disputes Landlord's reasonableness in exercising its judgment or withholding   or delaying its consent or approval, the sole remedies available to Tenant   shall be those of an equitable nature, such as an action for an injunction or   specific performance. Tenant specifically waives the rights to money damages   or other remedies (including the right to claim money damages by way of set   off, counterclaim or defense). Failure by Tenant to seek relief within six   (6) months of the date of Landlord's decision or alleged failure to render a   decision shall be deemed a waiver of any right to dispute such action. Except   to the extent arising from, caused by or due to the negligence or willful   misconduct of Landlord or Landlord's employees, agents, contractors or   invitees, Tenant shall reimburse, indemnify and save harmless Landlord from   and against any and all liability and damages, and from and against any and   all suits, claims, and demands of every kind and nature, including reasonable   counsel fees, by or on behalf of any person or entity, arising out of or   based upon any accident, injury or damage, however occurring, which shall or   may happen during the Term in connection with the Tenant's use of the Premises,   and from and against any matter growing out of the condition, maintenance,   repair, alteration, use, occupation or operation of the Premises. Section   12.03 Landlord shall not be liable to Tenant for any damage to persons or   property, or loss of property in and about the Building, Premises, and the   approaches, entrances, streets, sidewalks or corridors thereto, resulting by   or from any unauthorized or criminal acts of third parties, regardless of any   breakdown, malfunction or insufficiency of any 16

    

 

security   measures, practices or equipment provided by Landlord. The provisions of this   Section 12.03 shall survive the expiration or early termination of this   Lease. ARTICLE 13 Rules And Regulations Tenant, its servants, employees, agents,   visitors and licensees shall observe faithfully and comply with the rules and   regulations set forth in Schedule C attached hereto and made a part hereof   (the "Rules"). Landlord shall have the right from time to time   during the Term to make reasonable changes in and additions to the Rules and   shall provide Tenant with reasonable advance written notice of any such   change. Any failure by Landlord to enforce the Rules now or hereafter in   effect, either against Tenant or any other tenant in the Building, shall not   constitute a breach hereunder or waiver of any such Rules. Notwithstanding   the foregoing, Landlord will not discriminate against Tenant in the   enforcement thereof compared to other similarly situated tenants of the   Building. ARTICLE 14 Condemnation Section 14.01 In the event that the whole   or any material portion ("material" being defined as an amount   which precludes Tenant from occupying a majority of the Premises for its   intended purposes, as reasonably determined by Tenant) of the Premises are   taken by condemnation or eminent domain in any manner for any public use,   this Lease shall terminate as of the date of vesting of title in the   condemning authority. Section 14.02 In the event that less than a material   portion of the Premises are taken by condemnation or eminent domain in any   manner for any public use, this Lease shall continue and there shall be an   equitable adjustment of Rent. Section 14.03 In the event of any such taking   of all or a part of the Property, Building or Premises, Landlord shall be   entitled to receive the entire award in the condemnation proceeding,   including any award made for the value of the estate vested by this Lease in   Tenant. Tenant hereby expressly assigns to Landlord any and all right, title   and interest of Tenant now or hereafter arising in or to any such award or   any part thereof, and Tenant shall be entitled to receive no part of such   award. Tenant is entitled to pursue any award for Tenant's moving expenses   and any other award that does not diminish the award of Landlord. Section   14.04 In the event that this Lease is not terminated pursuant to this Article   14, Landlord shall repair and restore the Premises and any portions of the   Property affected by such taking that affects Tenant's access to or use and   enjoyment of the Premises to the same condition as the same existed prior to   the date of the taking, to the extent reasonably practicable after receipt of   the condemnation award, with reasonable diligence, subject to force majeure.   ARTICLE 15 Entry, Right To Change Public Portions Of The Building, Etc.   Section 15.01 Tenant shall permit Landlord to erect, use and maintain pipes,   ducts and conduits in and through the Premises provided that they do not   unreasonably interfere with Tenant's use of the Premises or materially affect   the layout thereof. Landlord or its agents or designees shall have the right   upon reasonable notice and at reasonable times (which shall not be less than   24 hours, and may be verbal), except in the case of an emergency to enter the   Premises for the purpose of making such repairs or alterations as Landlord   shall desire or be required to make by the provisions of this Lease provided   that Landlord shall use commercially reasonable efforts to insure that such   entry shall be made in a manner intended to minimize 17

    

 

interference   with or disruption to Tenant's operations (provided that Landlord shall not   be required to have any such entry occur after Standard Building Hours) and   Landlord shall notify Tenant by telephone with reasonable haste after any   entry due to an emergency. Any installations, replacements and relocation of   pipes, ducts and conduits referred to in the previous sentence shall be   located, so far as practicable, in the central core area of the Building,   above ceiling surfaces, below floor surfaces or within perimeter walls of the   Premises, and Landlord shall repair any damage caused thereby. Any   installations, replacements and relocations not so relocated will be boxed   and decorated in a manner which is consistent with the adjacent areas.   Landlord shall be allowed to take all material into and upon the Premises   that may be required for the repairs or alterations above mentioned without   the same constituting an eviction of Tenant in whole or in part and the Rent   reserved shall in no way abate, except as otherwise provided in this Lease,   while said repairs or alterations are being made, provided that Landlord may   not store any such material within the Premises). Landlord shall have the   right, at any time during the term of this Lease, at reasonable times and   upon reasonable notice (which shall not be less than 24 hours, and may be   verbal), to inspect the Premises and to exhibit the Premises to its   mortgagee, any prospective mortgagee or purchaser of the Building and, during   the last twelve (12) months of the Term, to exhibit the Premises prospective   tenants. Section 15.02 Landlord shall have the right at any time without   thereby creating an actual or constructive eviction or incurring any   liability to Tenant therefor, to change the arrangements or location of such   of the following as are not contained within the Premises, provided that   Tenant's use and occupancy of, or access to the Building or the Premises is   not materially adversely affected thereby: lobbies, entrances, elevators,   passageways, doors and doorways, corridors, stairs, parking facilities,   toilets, and other like public portions of the Property. Section 15.03   Landlord shall have the right at any time to name the Building after any   person(s) or tenant(s) and to change any and all such names at any time   thereafter. ARTICLE 16 Bankruptcy Section 16.01 If at or before the   Commencement Date or at any time during the Term hereof there shall be filed   against Tenant in any court pursuant to any statute either of the United   States or of any State a petition in bankruptcy or insolvency or for   reorganization or for the appointment of a receiver or trustee of all or a   portion of Tenant's property, and within ninety (90) days thereafter Tenant   fails to secure a discharge thereof, or if Tenant makes an assignment for the   benefit of creditors or petitions for or enters into an arrangement or   composition with creditors, or takes advantage of any statute relating to   bankruptcy, this Lease, at the option of Landlord (by written notice to   Tenant), may be terminated, if permitted by such statutes. Upon such   termination, neither Tenant nor any person claiming through or under Tenant   by virtue of any statute or of an order of any court shall be entitled to   possession or to remain in possession of the Premises but shall forthwith   quit and surrender the Premises. In addition to the other rights and remedies   Landlord has by virtue of any other provision of this Lease or by virtue of   any statute or rule of law, Landlord may retain as liquidated damages any   Rent, Security Deposit or monies received by it from Tenant or others on   behalf of Tenant. Section 16.02 It is stipulated and agreed that in the event   of the termination of this Lease pursuant to this Article 16, Landlord shall   forthwith, notwithstanding any other provisions of this Lease to the   contrary, be entitled to recover from Tenant as and for liquidated damages an   amount equal to the excess, if any, of the Rent reserved hereunder for the   unexpired portion 18

    

 

of the Term   over the then fair and reasonable rental value of the Premises for the same   period. If the Premises or any part thereof be relet by Landlord for all or   any part of the unexpired Term before presentation of proof of such   liquidated damages to any court, commission or tribunal, the amount of rent   reserved upon such reletting shall be deemed prima facie to be the fair and   reasonable rental value for the whole or part of the Premises so relet during   the term of the reletting. Nothing herein contained shall limit or prejudice   the right of Landlord to prove for and obtain as liquidated damages by reason   of such termination, an amount equal to the maximum allowed by any statute or   rule of law in effect at the time when, and governing the proceedings in which,   such damages are to be proved, whether or not such amount be greater, equal   to or less than the amount of the excess referred to above. Section 16.03 If,   pursuant to any bankruptcy statute, Tenant is permitted to assign this Lease   in disregard of the provisions of this Article 16, Tenant agrees that   adequate assurance of future performance by such assignee shall be required   in an amount equal to the sum of one (1) year's Rent, payable as of the date   of such assignment. Said sum shall be deposited in cash with Landlord and   shall be held, without interest, by it for the balance of the Term as   security for the full and faithful performance of all of the obligations of   this Lease to be performed by such assignee. If Tenant receives or is to   receive any valuable consideration for such assignment, such consideration,   after deducting therefrom (i) the reasonable broker's commissions, if any,   incurred by Tenant for such assignment, and (ii) any portion of such   consideration reasonably designated by the assignee as paid for the purchase   of Tenant's personal property in the Premises, shall be the sole and   exclusive property of Landlord and shall be paid over to Landlord directly by   such assignee ARTICLE 17 Defaults and Remedies and Waiver of Redemption   Section 17.01 The occurrence of any one or more of the following shall   constitute a default by Tenant under this Lease: failure to pay any Rent   and/or other payment herein within ten (10) days after the same is due   (provided that Landlord shall, not more than once per calendar year, be   required to give Tenant written notice that a payment was not made when due,   and Tenant shall have ten (10) days from receipt thereof in which to make the   payment); failure to perform any other covenant to be observed by Tenant   hereunder within thirty (30) days after Notice of such failure is received by   Tenant, or if the failure complained of shall be of such a nature that it   cannot be completely cured or remedied within said thirty (30) day period,   such longer period as shall reasonably be required, provided Tenant shall   have diligently commenced curing such default within such thirty (30) day   period and diligently and in good faith proceeds to remedy or cure such   failure; dissolution or disbanding of Tenant, provided that any reconstitution   of the shareholders or officers of Tenant shall not be deemed a dissolution   or disbanding of Tenant; failure to timely provide or replenish a   satisfactory Security Deposit as required by Article 31; or failure to   provide an executed Estoppel Certificate on a timely basis as required by   Article 25, provided that if Tenant responds to a request for an Estoppel   Certificate within the time period provided for in Article 25 and is   negotiating the Estoppel Certificate in good faith, then no default shall   exist. 19

    

 

Section 17.02   In addition to all other remedies and rights provided for in this Lease, upon   the occurrence and continuance of any such default beyond applicable notice   and cure periods, Landlord may, at its option and without any notice not   otherwise required hereunder, do any one or more of the following, at such   times and in such order as Landlord may determine to be in its interest:   Declare, by written notice to Tenant, this Lease terminated as fully and   completely as if the date of such termination notice were the date herein   fixed for the expiration of this Lease; re-enter the Premises and dispossess   Tenant and the legal representative of Tenant and any other occupant of the   Premises, remove their effects (to storage at the expense of Tenant or   otherwise), and hold the Premises as if this Lease had not been made, without   being liable for any prosecution or damages therefor and if Landlord so   elects, may sell such effects at public auction or private sale and apply the   net proceeds to the payment of all sums due to Landlord from Tenant and pay   over the balance, if any, to Tenant; relet the Premises (as the agent of   Tenant if this Lease has been terminated) as further provided below and   receive the rent therefor; cure such default for the account and at the   expense of Tenant; be entitled to receive as liquidated damages the present   value of (i) the Rent reserved for the unexpired portion of the Term; minus   (ii) the then fair and reasonable rental value of the Premises for the same period,   in both cases using a discount rate equal to the rate for treasury securities   with a term approximately equal to the unexpired portion of the Term; or   exercise all other rights and remedies available at law or in equity. Section   17.03 Upon any such termination of this Lease, Tenant shall quit and   surrender the Premises to Landlord, but Tenant shall remain liable as   hereinafter provided. Tenant shall pay to Landlord all amounts then due under   this Lease and, at Landlord's election, the amount of Rent accelerated   pursuant to Section 17.02(e). Section 17.04 In the event that Landlord   re-enters the Premises following default by Tenant beyond applicable notice   and cure periods, whether or not the Lease is terminated, Landlord may relet   the Premises upon such terms as shall be satisfactory to Landlord, in its   sole discretion, and all rights of Tenant to repossess the Premises shall be   forfeited. Any such reletting may be of the entire Premises or any part or   parts thereof, either in the name of Landlord or otherwise, for a term or   terms, which may at Landlord's option be less than or in excess of the period   which would otherwise have constituted the balance of the term of this Lease.   Section 17.05 Landlord's obligation to mitigate damages after a default by Tenant   under this Lease beyond applicable notice and cure periods that results in   Landlord regaining possession of all or part of the Premises, to the extent   mitigation efforts are required by law, shall be satisfied in full if   Landlord undertakes to lease the Premises to another tenant (a   "Substitute Tenant") in accordance with the following criteria: (a)   Landlord shall have no obligation to solicit or entertain negotiations with   any other prospective tenants for the Premises until Landlord obtains full   and complete possession 20

    

 

 

of the Premises   including, without limitation, the final and unappealable legal right to   re-let the Premises free of any claim of Tenant. Landlord shall not be   obligated to offer the Premises to any prospective tenant when other premises   in the Building suitable for that prospective tenant's use are currently   available, or will be available within the next six (6) months. Landlord   shall not be obligated to lease the Premises to a Substitute Tenant for a   rental less than the current fair market rental then prevailing for similar   office space in comparable buildings in the same market area as the Building.   Landlord shall not be obligated to enter into a new lease under terms and   conditions that are unacceptable to Landlord under Landlord's then current   leasing policies for comparable space in the Building. Landlord shall not be   obligated to enter into a lease with any proposed Substitute Tenant that does   not have, in Landlord's reasonable opinion, sufficient financial resources to   maintain the Premises in a first-class manner and pay all rent payable   pursuant to this Lease. Landlord shall not be required to expend any amount   of money to alter, remodel or otherwise make the Premises suitable for use by   a Substitute Tenant unless: (i) Tenant pays any such sum to Landlord in   advance of Landlord's execution of a lease with such Substitute Tenant (which   payment shall not be in lieu of any damages or other sums to which Landlord   may be entitled to as a result of Tenant's default under this Lease); or (ii)   Landlord, in Landlord's sole discretion, determines that any such expenditure   is financially justified in connection with entering into any lease with such   Substitute Tenant. (g) Landlord shall not be obligated to enter into a lease   with any Substitute Tenant whose use would violate any restriction, covenant   or requirement contained in the lease of another tenant of the Building.   Section 17.06 Any re-entry or reletting, or both of the Premises, by Landlord   shall not operate to release Tenant from any rent to be paid (less the net   proceeds, if any, received by Landlord from any reletting of the premises as   set forth in Section 17.07 below) or covenant to be performed hereunder by   Tenant during the term of this Lease. The failure or refusal of Landlord to   relet the Premises or any part or parts thereof, except on terms provided for   herein, shall not release or affect Tenant's liability for damages. In   addition, if the Premises, or any part or parts thereof, are relet, Landlord   shall in no event be liable in any way whatsoever for failure to collect the   rent under such reletting. For the purposes of reletting, Landlord shall be   authorized to do such marketing, to make such repairs, alterations or   decorations in or to the Premises, and to provide for such rent concessions,   free rent or other inducements as Landlord in Landlord's reasonable judgment   considers advisable or necessary. Tenant shall be liable to Landlord for the   cost of such marketing, repairs, alterations and decorations, and all other   expenses of such reletting, including, but not limited to, attorney's fees   and brokerage fees Tenant shall not be entitled to any surplus accruing as a   result of any such reletting. 21

    

 

Section 17.07   If the Premises are relet, the sum realized or to be realized from such   reletting for the period which would otherwise have constituted the balance   of the Term, net of all costs of such reletting, including attorney's fees,   brokerage fees, the value of Landlord's time and costs of preparing the   Premises for occupancy for a Substitute Tenant, shall be applied to the Rent   to be paid by Tenant under this Lease for such period, and Tenant shall pay   to Landlord an amount equal to any deficiency on the terms set forth in   Section 17.02 (e). Section 17.08 In the event of a breach or threatened   breach by Tenant of any of the covenants or provisions hereof, Landlord shall   have the right of injunction and the right to invoke any remedy allowed at   law or in equity as if re-entry, summary proceedings and other remedies were   not herein provided for. Mention in this Lease of any particular remedy shall   not preclude Landlord from any other remedy available at law or in equity.   The foregoing remedies and rights of Landlord are cumulative, and Landlord   may exercise any one, more or all of such remedies at one time or at any time   and in any sequence as Landlord may, in its sole discretion, elect.   Landlord's declining to exercise any remedy or right available to it at any   one time shall not constitute waiver of the right to do so at any other time   or upon any other default by Tenant. Tenant hereby expressly waives any and   all rights of redemption granted by or under any present or future laws in   the event of Tenant's being evicted or dispossessed for any cause, or in the   event of Landlord's obtaining possession of the Premises, by reason of the   violation by Tenant of any of the covenants and conditions of this Lease, or   otherwise. Section 17.09 Landlord shall in no event be in default of the   performance of any of Landlord's obligations hereunder unless and until   Landlord shall have received written notice from Tenant to Landlord   specifying any such Landlord failure to perform its obligations hereunder and   thereafter Landlord fails to perform such obligations within a reasonable   period of time required to correct any such defaults, which period shall be   deemed to be thirty (30) days from receipt of such written notice unless such   obligation is not reasonably susceptible to cure within thirty (30) days, in   which case Landlord shall commence to so cure within thirty (30) days and   shall pursue such cure thereafter diligently until completion. ARTICLE 18   Covenant Of Quiet Enjoyment Landlord covenants that upon Tenant's paying the   Rent and observing and performing all the terms, covenants and provisions of   this Lease on Tenant's part to be observed and performed, Tenant may   peaceably and quietly enjoy the Premises, free from interference from   Landlord or anyone claiming under or through Landlord, subject nevertheless   to the terms and conditions of this Lease. This covenant shall bind and be   enforceable against Landlord, subject to the terms hereof, only so long as   Landlord is the owner of the Building. ARTICLE 19 Subordination And   Attornment Section 19.01 This Lease and all of Tenant's rights hereunder   shall be subject and subordinate to any mortgage, deed of trust or other   security instrument now or hereafter granted by Landlord and/or its   predecessors or successors affecting all or any portion of the Property and   to all renewals, modifications, consolidations, replacements and extensions   thereof. The foregoing subordination shall be self-operative and no further   instrument of subordination need be obtained, provided, however, that upon   the request of any mortgagee of the Property, Tenant shall promptly execute   and deliver an instrument prepared by such holder evidencing and confirming   such subordination. As long as any mortgage exists, Tenant shall not seek to   terminate this Lease by reason of any act or omission of Landlord until (a)   Tenant shall have given notice of such act or omission to all mortgagees, and   (b) not less than thirty (30) days 22

    

 

shall have   elapsed following the giving of notice of such default and the expiration of   any applicable notice or grace periods (unless such act or omission is not   capable of being remedied within a reasonable period of time), during which   period such mortgagees shall have the right, but not the obligation, to   remedy such act or omission and thereafter diligently proceed to so remedy   such act or obligation. If any mortgagee elects to remedy such act or   omission of Landlord, Tenant shall not seek to terminate this Lease so long   as such mortgagee is proceeding with reasonable diligence to effect such   remedy, provided that (i) the mortgagee shall only have ninety (90) days   after the time given to Landlord to cure Landlord's default, and (ii) none of   Tenant's remedies for such default, other than any right to terminate this   Lease, shall be affected or delayed as a result of such additional time given   to the mortgagee to cure. Tenant shall, upon request from Landlord, execute   and deliver a subordination, non-disturbance and attornment agreement (an   "SNDA") with Landlord's first mortgagee, on the mortgagee's form.   Landlord's existing mortgagee's form is attached hereto as Schedule I   (provided that Tenant shall have the right, at its cost, to negotiate such   SNDA). Section 19.02 In the event the holder of any mortgage of the Property   shall come into possession of or acquire title to the Property as a result of   the enforcement or foreclosure (judicial or non-judicial) of such a mortgage,   or by means of the delivery to such party of a deed-in-lieu of foreclosure or   as a result of any other means, or in the event that Landlord's estate in   such real property is conveyed or passes to a person or entity by operation   of law or any other means then in any of said events Tenant shall, at the   election and upon the request of such successor owner, attorn to such   successor owner as its landlord under this Lease provided, that any such   successor owner shall not be (i) liable for any act, omission or default of   any prior landlord (including, without limitation, Landlord), provided,   however, that nothing herein shall relieve any successor owner from its   obligations to maintain and repair the Premises or the Building as required   under this Lease; (ii) liable for the return of any monies paid to or on   deposit with any prior landlord (including, without limitation, Landlord),   except to the extent such monies or deposits are delivered to such Successor   Landlord; (iii) subject to any offset, claims or defenses that Tenant might   have against any prior landlord (including, without limitation, such   successor owner); (iv) bound by any rent which Tenant might have paid in advance   for more than the current month to any prior landlord (including, without   limitation, Landlord) unless actually received by such successor owner; (v)   bound by any covenant to perform or complete any construction in connection   with the Property or the Premises or to pay any sums to Tenant in connection   therewith; (vi) bound by any waiver or forbearance under, or any amendment,   modification, abridgement, cancellation or surrender of, this Lease made   without the consent of such successor owner; or (vii) bound by any   representation or warranty made by any prior landlord (including, without   limitation, Landlord). The foregoing attornment requirement shall be   self-operative upon any such request of a successor owner. Tenant agrees,   however, upon demand of such successor owner, to execute an instrument in   confirmation of the foregoing provisions. ARTICLE 20 Services And Equipment   Section 20.01 Landlord shall: (a) Provide non-exclusive operator-less   passenger and freight elevator service on Sundays through Saturdays,   twenty-four (24) hours per day, including all federal and state holidays   ("Holidays"). Holidays shall include Bunker Hill Day and the day   after Thanksgiving Day. On Sundays, Holidays and after normal working hours,   elevator service may be curtailed for reasons of security, maintenance or   repairs, provided, however, one (1) passenger elevator shall be operational   at all times. 23

    

 

Provide central   heating, ventilating and air conditioning services from 8:00 a.m. to 6:00   p.m. Monday through Friday, excluding Holidays, (collectively, "Standard   Building Hours"). Tenant controls its heating, ventilating and air   conditioning services to the Premises and as such can obtain the same outside   of Standard Building Hours, to the extent, with regard to heat, that the   Building's central boiler is on. There are currently no "after   hours" charges therefor. However, Landlord reserves the right, in the   future, to impose an "after hours' charge, which charge will be   reasonably related to the excess electrical costs incurred by any after hours   usage by Tenant, without mark-up; it is anticipated that the after-hours   charges would currently be $37.50 per hour with a four (4) hour minimum. In   the event Tenant introduces into the Premises personnel or equipment which   overloads the capacity of the Building heating, ventilating and   air-conditioning system(s) or in any other way interferes with its or their   ability to perform adequately, supplementary systems may, if and as needed,   at Landlord's option, reasonably exercised, be provided by Landlord, at   Tenant's expense. Provide building standard cleaning services, as indicated   on Schedule D except Saturdays, Sundays and Holidays. Landlord, its cleaning   contractor and their respective employees shall have access to the Premises   after 6:00 p.m. and before 8:00 a.m. and shall have the right to use, without   charge therefor, all light, power, and water in the Premises reasonably   required to clean the Premises as required hereunder. Furnish hot and cold   water for normal lavatory, drinking and office cleaning purposes. If Tenant   requires, uses or consumes water for any other purpose, Tenant agrees that   Landlord may install, at Tenant's expense, a meter or meters or other means   to measure Tenant's water consumption and to reimburse Landlord for the cost   of all water consumed as measured by said meter or meters or as otherwise   measured. Maintain and keep in good order and repair the common areas of the   Building including without limitation the men's and ladies' toilets within   the Building (excluding any private toilets within the Premises). Provide   lighting to the public and common areas of the Property. Section 20.02   Landlord reserves the right to interrupt, curtail or suspend the services   required to be furnished by Landlord under this Article 20 when the necessity   therefor arises by reason of accident, emergency, mechanical breakdown, or   when required by any law, order or regulation of any federal, state, county   or municipal authority, or for any other cause beyond the reasonable control   of Landlord ("Force Majeure"), provided however, that Landlord   shall use commercially reasonable efforts to minimize any interference with   Tenant's use and occupancy of, or access to, the Premises, provided further   that the foregoing shall not require that Landlord have any work performed   outside of Standard Business Hours. Landlord also reserves the right to make   changes, alterations, additions, improvements, repairs or replacements to the   Building, including the Building systems as Landlord deems necessary or   desirable (collectively, "Restorative Work"), provided that in no   event shall the level of any Building service decrease in any material   respect from the level required of Landlord in this Lease as a result thereof   (other than temporary changes in the level of such services during the   performance of any such Restorative Work). Landlord shall use due diligence   to complete all required repairs or other necessary work as quickly as   possible so that Tenant's inconvenience resulting therefrom may be for as   short a period of time as circumstances will permit. No diminution or   abatement of Rent or other compensation shall or will be claimed by Tenant as   a result therefrom, nor shall this Lease or any of the obligations of Tenant   be affected or reduced by reason of such interruption, curtailment or   suspension. Notwithstanding anything contained herein to the 24

    

 

contrary, in   the event of any interruption, curtailment, suspension or stoppage of any   service or utility provided by Landlord under this Lease (a "Service   Interruption") that is caused by the negligence of Landlord or its   agents, employees or contractors, that materially affects Tenant's ability to   conduct its business in the Premises and that continues for five (5) consecutive   business days, then Base Rent shall thereafter equitably abate, in proportion   to the interference with Tenant's business, until the Service Interruption   ends. Tenant shall reimburse Landlord for the cost to Landlord of removal   from the Premises and the Building of any refuse and rubbish discarded by   Tenant other than normal office refuse collected during the cleaning services   provided by Landlord. ARTICLE 21 Additional Rent For Increases In Real Estate   Taxes Section 21.01 As used in this Article, the words and terms which follow   mean the following: "Real Estate Taxes" shall mean the real   property taxes and assessments including sewer rates, personal property taxes   and all public improvement assessments (whether imposed generally or specially)   imposed upon the Property or any part thereof (excluding, however, any   interest or penalties imposed in connection therewith) and shall include all   expenses, including fees of counsel and experts, reasonably incurred by or   reimbursable by, Landlord in connection with any application for a reduction   in the assessed valuation for the Property or for a judicial review thereof.   There shall be excluded from Real Estate Taxes all income, estate,   succession, inheritance and transfer taxes of Landlord, provided, however, if   due to a future change in the method of taxation, any franchise, income,   profit or other tax shall be levied by any governmental authority against   Landlord in substitution in whole or in part for or in lieu of any tax which   would otherwise constitute a Real Estate Tax, such franchise, income, profit   or other tax shall be deemed to be a Real Estate Tax for the purposes hereof.   Section 21.02 In addition to the Base Rent, Tenant agrees to pay, as   Additional Rent, an amount equal to Tenant's Share of the excess of Real   Estate Taxes due for each tax fiscal year which is subsequent to the Tax Base   Year (a "Comparison Year"), over the amount of such Real Estate   Taxes due with respect to the Tax Base Year (Tenant's Tax Payment"). On   or about the start of each Comparison Year, Landlord shall furnish to Tenant   a Statement of the Taxes. If Landlord fails to provide a Statement of Real   Estate Taxes on or before the start of a Comparison Year, then Tenant shall   pay the amount from the prior year's Statement of Real Estate Taxes until a   new Statement of Real Estate Taxes is provided, at which time Tenant shall   additionally pay any shortfall. Tenant shall pay an estimation of Tenant's   Tax Payment to Landlord, in monthly installments, on the first day of each   month during each Comparison Year, an amount equal to 1/12 of the estimation   of Tenant's Tax Payment due for each Comparison Year. If there is any   increase or decrease in Real Estate Taxes payable for any Comparison Year,   whether levied during or after such Comparison Year, Landlord may furnish a   revised Statement for such Comparison Year, and Tenant's Tax Payment for such   Comparison Year shall be adjusted and, within ten (10) Business Days after   delivery of such revised Statement (a) with respect to any increase in Real   Estate Taxes payable for such Comparison Year, Tenant shall pay such increase   in Tenant's Tax Payment to Landlord, or (b) with respect to any decrease in   Real Estate Taxes payable for such Comparison Year, Landlord shall credit   such decrease in Tenant's Tax Payment against the next installment of Rent   payable by Tenant or, if applicable to the final Comparison Year, shall pay   such amount to Tenant within thirty (30) days after the determination of such   excess payment 25

    

 

Section 21.03   If Real Estate Taxes in the Tax Base Year are affected by any application or   proceeding brought by or on behalf of Landlord for reduction in the amount of   Real Estate Taxes payable by Landlord, and if, as result of such application   or proceeding Real Estate Taxes in any Tax Base Year shall be decreased,   Landlord may promptly bill Tenant for any Additional Rent, for any fiscal   year reflecting such decrease in Real Estate Taxes in the Tax Base Year.   Section 21.04 Any reconciliation amount payable under this Article 21 shall   be due and payable within thirty (30) days after Landlord renders a bill   therefor. Copies of bills for any Real Estate Taxes shall be sufficient   evidence of the amount of Real Estate Taxes and for the purposes of the   calculation of the amount of Additional Rent to be paid by Tenant pursuant to   this Article 21. The failure of Landlord to render bills for Real Estate   Taxes under provisions of this Article shall not prejudice the right of   Landlord to thereafter render said bill or bills for such fiscal or calendar   year or any subsequent fiscal or calendar year, provided, however, that   Landlord shall not be able to collect any sums first billed to Tenant more   than one (1) year after the Expiration Date (as the same may be extended   hereunder). Any Additional Rent payable pursuant to this Article 21 for any   partial year shall be adjusted in proportion to the number of days in such   year. The obligation of Tenant with respect to any Additional Rent pursuant   to this Article applicable to the last lease year of the Term shall survive   the expiration or termination of this Lease. ARTICLE 22 Additional Rent For   Increases In Costs Of Operations Section 22.01 As used in this Article, the   words and terms which follow mean the following: In the event that the   Building is less than 95% leased on average for the Base Year or any   Computation Year, the actual Cost of Operation for the Base Year or any   Computation Year shall be appropriately adjusted on a line item by line item   basis to reflect the estimated Cost of Operation that would have been   incurred if the Building were 95% occupied for such Base Year or Computation   Year. In addition, If during all or part of the Base Year or any Computation   Year, Landlord shall not furnish any particular item(s) of work or service   (which would otherwise constitute a Cost of Operation) to any leasable   portions of the Building for any reason, and/or if the cost of any work or   service is paid for by a tenant directly, rather than through the Cost of   Operation (including without limitation by any retail tenant in the   Building), then, for purposes of computing the Cost of Operation for such   period, the amount included in the Cost of Operation for such period shall be   increased by an amount equal to the costs and expenses that would have been   reasonably incurred by Landlord during such period if Landlord had furnished   such item(s) of work or service to such portion of the Building and/or if   such tenant had paid for such work or service through the Cost of Operation.   "Computation Year" shall mean each calendar year after the Base   Year for Costs of Operation in which occurs any part of the term of this   Lease. "Cost of Operation" shall mean the aggregate of all costs   and expenses paid or incurred by or on behalf of Landlord in connection with   the ownership, operation, repair and maintenance of the Real Property. The   term "Cost of Operation" shall not include: (i) Real Estate Taxes,   franchise taxes or taxes imposed upon or measured by the income or profits of   Landlord; 26

    

 

(ii) any   administrative wages and salaries or any other general and administrative   overhead of Landlord, including, but not limited to, rent; (iii) the cost of   any item which should, in accordance with generally accepted accounting principles,   be capitalized on the books of the Landlord, including any replacements of   elevators and heating, ventilating and air-conditioning systems, except as   provided in Section 22 02; (iv) to the extent that Tenant pays for   electricity for the Premises outside of the Cost of Operation, the cost of   any electricity furnished to the Premises or any other space in the Building   leased to tenants; (v) the cost of securing tenants, including marketing,   brokerage commissions, rent inducements and legal expense, and alterations to   tenant spaces and any fit-out in advance of and in expectation of securing a   tenant; (vi) legal and accounting fees relating to (A) disputes with tenants,   prospective tenants or other occupants of the Building, (B) disputes with   purchasers, prospective purchasers, mortgagees or prospective mortgagees of   the Building or the Real Property or any part of either, or (C) negotiations   of leases, contracts of sale or mortgages; (vii) costs of services provided   to other tenants of the Building on a "rent-inclusion" basis which   are not provided to Tenant on such basis; (viii) costs that are reimbursed   out of insurance, warranty or condemnation proceeds, or which are   reimbursable by Tenant or other tenants other than pursuant to an expense   escalation clause; (ix) costs in the nature of penalties or fines; (x) costs   for services, supplies or repairs paid to any related entity in excess of   costs that would be payable in an "arm's length" or unrelated   situation for comparable services, supplies or repair. The cost of any   special work or service performed for any tenant (including Tenant) whether   or not at the cost of such Tenant; (xi) fines or penalties imposed by reason   of Landlord's failure to comply with any environmental law, statute,   ordinance or regulation; (xii) debt service; (xiii) to the extent that Tenant   pays, for the Premises, any cost other than through the Cost of Operation,   then that cost for other leased or leasable portions of the Building shall be   excluded; (xiv) the cost of any additions, changes, replacements, painting,   decorating, renovations and other items that are made solely in order to   prepare tenant space for a new tenant's occupancy; 27

    

 

(xv) the cost   of removing or remediating Hazardous Materials from the Property; (xvi) the   cost of acquiring sculptures, paintings and other objects of art that have   intrinsic value as "works of art"; (xvii) the cost of advertising   or promotion for the Property or any part thereof or any operations at the   Property; (xviii) depreciation of the Property or any part thereof; (xix)   lease payments for rental equipment that would constitute a major capital   expenditure if the equipment were purchased, but only to the extent that the   capital expenditure itself would be excluded from Expenses if the equipment   were purchased; and (xx) any costs incurred with respect to any retail   portions of the Building, to the extent greater, on a per square foot basis,   than the same costs for the non-retail portions of the Building. (d)   "Escalation Statement" shall mean a written statement setting forth   the amount due from Tenant for a specified Computation Year pursuant to this   Article 22. Section 22.02 If Landlord shall purchase any item of capital   equipment or make any capital expenditure (i) for the purpose of complying   with Requirements arising after the date hereof or for the purpose of   reducing the Cost of Operation (if reasonably determined by Landlord based on   engineering estimates of the reduced cost), or (ii) in the ordinary prudent   operation and maintenance of the Building, then the cost of such capital   equipment or capital expenditure shall be included in the Cost of Operation   beginning with the year in which such expense is incurred. The amount of such   capital equipment or capital expenditure to be included in each year's Cost   of Operation shall be the portion of the cost of such capital equipment or   capital expenditure amortized on a straight line basis over the estimated   useful life as reasonably determined by Landlord (in accordance with generally   accepted accounting principles, to the extent that the same address useful   lives), plus an interest factor equal to the interest at the rate of 9% per   annum. If Landlord shall lease any such item of capital equipment, then the   annual amount paid by Landlord on account of such lease shall be included in   the Cost of Operation, if the cost of such equipment, if purchased, would be   includable in the Cost of Operation-Section 22.03 If the Cost of Operation   for any Computation Year shall be greater than the Cost of Operation for the   Base Year, Tenant shall pay to Landlord as Additional Rent for the Premises   for such Computation Year, an amount equal to the product obtained by   multiplying such increase by Tenant's Share ("Tenant's Operating Payment").   Section 22.04 In order to provide for current payments which may be due   pursuant to this Article, Tenant agrees to make such payments in twelve (12)   approximately equal monthly installments, each due on the first day of each   month, which installments shall aggregate the total amount due for such   Computation Year. Until Landlord has furnished an Escalation Statement as   provided in Section 22.05, such monthly installments shall be based upon   Landlord's reasonable estimate of the increased Cost of Operation for such   Computation Year, 28

    

 

with   appropriate adjustments made as soon as the Escalation Statement has been   prepared. Landlord's estimate may be based upon the increase, if any, of the   Cost of Operation for the previous Computation Year over the year before such   Computation Year or upon any other reasonable estimate of the Cost of   Operation or any component thereof. Landlord shall have the right to revise   such estimate from time to time and at any time to reflect unusual or   unforeseen expenses or changes in costs. Section 22.05 Within one hundred   twenty (120) days after the end of each Computation Year, Landlord shall   furnish to Tenant a year-end Escalation Statement relating to such   Computation Year, and Tenant shall pay the amount shown on said statement   within thirty (30) days of receipt of such or, if Tenant has overpaid such   Additional Rent, Landlord shall make a refund to Tenant. Payments shall be   made pursuant to this Article 22 notwithstanding the fact that an Escalation   Statement is furnished to Tenant after the termination of this Lease,   provided, however, that Tenant shall not be obligated to pay Landlord any   amounts first billed to Tenant more than one hundred eighty (180) days after   the expiration of the calendar year in which the Expiration Date occurs. Such   statement will be final and binding upon Tenant unless Tenant objects to it   in writing to Landlord within ninety (90) days after delivery to Tenant.   Acceptance or resolution of the first such statement which Tenant has audited   under Section 22.06 below shall constitute acceptance of the Cost of   Operation amount for the Base Year. Section 22.06 When requested by Tenant   and provided that such request is made in writing within ninety (90) days   following the receipt by it of any Escalation Statement, and further provided   that Tenant is not in default of its obligations pursuant to this Lease   beyond applicable notice and cure periods, Landlord will: (i) furnish to   Tenant such additional information as may be reasonably necessary for the   verification of such Escalation Statement and of Landlord's calculation as   set forth in Section 22.03 and; (ii) permit the pertinent records to be   examined by Tenant or its independent certified public accountants, at no   cost to Landlord. In no event shall Tenant employ or be assisted by anyone   who is compensated on a contingent fee basis in connection with any such   verification. Tenant shall provide Landlord within thirty (30) days of the   receipt or preparation of an audit report, with a copy of such audit report.   If it is finally determined or mutually agreed that Landlord has overstated   Tenant's Share of the Cost of Operation, Landlord shall credit the amount of   such overstatement against the monthly installments of Additional Rent next   due under this Lease (or refund such amount to Tenant if the Term has ended   and Tenant has no further obligations to Landlord under this Lease). If   Tenant's Share of the Cost of Operation are overstated by more than 4%, then   Landlord shall reimburse Tenant for all reasonable out-of-pocket costs and   expenses incurred in connection with such audit. Such examination and the   results thereof shall be confidential and may not be disclosed to any   individual or entity without the express written consent of Landlord except   to such persons performing the audit, Tenant's legal advisors, as required   under applicable law and pursuant to any judicial, administrative or   alternative dispute resolution proceedings. Any disclosure without such   consent shall be deemed a material default of the terms of this Lease. It is   expressly understood that Landlord shall be under no duty to preserve any   such records, or any data or material related thereto, for more than three   (3) years after the end of each Computation Year. Section 22.07 In no event   shall any decrease in the Costs of Operation result in any decrease in or off   set against Base Rent. Any dispute regarding Additional Rent pursuant to this   Article shall be resolved by arbitration as provided in Article 32. 29

    

 

ARTICLE 23   Electric Services Section 23.01 Landlord will furnish electricity to the   Premises through presently installed separate meters for Tenant's reasonable   use for lighting, electrical appliances and equipment. Tenant shall pay, as   Additional Rent, all amounts due with respect to Tenant's electrical usage   and consumption at the Premises during the Term and renewal term, as   applicable, directly to the utility provider. Section 23.02 Landlord shall   not be liable in any way to Tenant for any failure or defect in the supply or   character of electric energy furnished to the Premises by reason of any   requirement, act or omission of the public utility serving the Building with   electricity or for any other reason not attributable to Landlord. Landlord   shall furnish and install all lighting tubes, lamps, bulbs and ballasts   required in the Premises, at Tenant's expense Section 23.03 If any tax is   imposed upon Landlord with respect to electrical energy, Tenant shall pay   Additional Rent as Tenant's Share of such tax. It is understood and agreed   that Landlord is not selling electricity to Tenant nor is Tenant purchasing   electricity from Landlord. ARTICLE 24 Broker Tenant represents that it has   dealt with no real estate broker other than the Broker in connection with   this Lease and that no other broker brought this leasing opportunity to its   attention. Tenant shall indemnify Landlord and hold Landlord harmless from   any and ail claims, successful or not for brokerage commissions by any other   broker that Tenant dealt with in connection with this leasing opportunity   including, without limitation, reasonable legal fees and disbursements.   Landlord shall be responsible for the payment of any brokerage fees or   commissions due to Broker pursuant to a separate agreement. Landlord represents   that it has dealt with no real estate broker other than the Broker in   connection with this Lease and that no other broker brought this leasing   opportunity to its attention. Landlord shall indemnify Tenant and hold Tenant   harmless from any and all claims, successful or not for brokerage commissions   by any other broker that Landlord dealt with in connection with this leasing   opportunity including, without limitation, reasonable legal fees and   disbursements. ARTICLE 25 Estoppel Certificate Landlord and Tenant each   hereby agree, at any time, and from time to time, upon not less than ten (10)   Business Days' prior Notice by the other party, to execute, acknowledge and   deliver the other party, a commercially reasonable statement in writing (the   "Estoppel") addressed to Tenant, Landlord or any mortgagee or   prospective mortgagee, as the case may be, (a) stating the Commencement Date,   the Rent Commencement Date and the Expiration Date, and that this Lease is   then in full force and effect and has not been modified (or if modified,   setting forth all modifications), (b) setting forth the date to which the   Base Rent and any Additional Rent have been paid, together with the amount of   monthly Base Rent and Additional, Rent then payable, (c) stating whether or   not, to the best of Landlord's or Tenant's knowledge, as the case may be,   Landlord or Tenant, as the case may be, is in default under this Lease, and,   if Landlord or Tenant, as the case may be, is in default, setting forth the   specific nature of all such defaults, (d) stating the amount of the Security   Deposit, if any, under this Lease, (e) stating whether there are any   subleases or assignments affecting the Premises, 30

    

 

(f) stating the   address of Landlord or Tenant, as the case may be, to which all notices and   communications under the Lease shall be sent, and (g) responding to any other   matters reasonably requested by the requesting party. The Estoppel shall be   in the form attached hereto as Schedule G or such other reasonable form as   Landlord or Tenant shall provide. Tenant acknowledges that any statement   delivered pursuant to this Section 25 may be relied upon by any purchaser or   subsequent owner of the Real Property or the Building, or all or any portion   of Landlord's interest in the Real Property or the Building or any Superior   Lease, or by any Mortgagee, or assignee thereof or by any Lessor, or assignee   thereof. ARTICLE 26 Surrender Of Premises Section 26.01 Upon termination of   this Lease (whether by expiration of the Term herein provided or for any   other reason), Tenant shall quit and surrender the Premises in good order and   condition, broom clean, except for ordinary wear and tear and damage by fire   or other casualty, the elements and any cause beyond Tenant's control, and   Tenant shall remove all its property therefrom, except as otherwise provided   in this Lease. Tenant shall remove all Alterations designated by Landlord to   be removed in accordance with Section 6.01 hereof and shall restore the   Premises to the condition existing prior to the installation of such   Alterations. Section 26.02 Tenant shall reimburse, indemnify and hold   Landlord harmless from any loss, cost or expense, including reasonable   attorney's fees, resulting from Tenant's failure or refusal to vacate the   Premises in a timely fashion. In addition, Tenant agrees to pay for use and   occupancy of the Premises after termination of this Lease at a rate equal to   150% of the Rent payable immediately prior to such termination. The parties   agree that there shall be no presumption that the last Rent Tenant was   obligated to pay shall be the fair market rent. No such payment shall,   however, serve to renew or extend the Term. The provisions of this Article   shall survive the expiration or termination of this Lease. ARTICLE 27   Environmental Hazards Section 27.01 Neither Landlord nor Tenant shall cause   or permit any "Hazardous Substances" (as hereinafter defined) to be   used, stored, generated or disposed of in, on or about the Land, Building or   Premises by either of them, their agents, employees, servants, licensees,   contractors, or invitees, except for such Hazardous Substances as are   normally utilized in connection with the use permitted by this Lease and are   necessary to conducting business and then only in strict compliance with all   applicable "Environmental Laws" (as hereinafter defined). Any such   Hazardous Substances permitted on the Premises, and all containers therefor,   shall be used, kept, stored and disposed of in a manner that complies with   all Environmental Laws. Each party shall indemnify and hold the other   harmless from any and all claims, damages, fines, judgments, penalties,   costs, expenses or liabilities (including, without limitation, any and all   sums paid for settlement of claims, attorneys' fees, consultant and expert   fees) arising during or after the Term from or in connection with the   prohibited use, storage, generation or disposal of Hazardous Substances in,   on or about the Land, Building or Premises by either of them, their Tenant's   agents, employees, contractors or invitees. Notwithstanding anything herein   to the contrary, Tenant shall have no liability for any Hazardous Substances   existing in, on or under the Land, the Building or the Premises on or prior   to the Commencement Date. Section 27.02 Each of Landlord and Tenant agrees   that if it or anyone claiming under it shall generate, store, release, spill,   dispose of or transfer to the Premises or Property any Hazardous Substances,   it shall forthwith remove the same, at its sole cost and expense, in the 3]

    

 

manner provided   by all applicable Environmental Laws (as hereinafter defined), regardless of   when such Hazardous Substances shall be discovered. Furthermore, each of   Landlord or Tenant, as the case may be, shall pay any fines, penalties, or   other assessments imposed by any governmental agency with respect to   Landlord's or Tenant's handling, treatment, transportation, storage, disposal   or use of any such Hazardous Substances in violation of Environmental Laws   and shall forthwith repair and restore any portion of the Premises or   Property which it shall disturb in so removing any such Hazardous Substances   to the condition which existed prior to the disturbance thereof. Section   27.03 Tenant agrees to deliver promptly to Landlord any written notices,   orders, or similar documents received from any governmental agency or   official concerning any violation of any Environmental Laws or with respect   to any Hazardous Substances affecting the Premises or Property. In addition,   Tenant shall, within ten (10) Business Days of receipt, accurately complete   any questionnaires from Landlord or other informational requests relating to   Tenant's use, generation, storage and/or disposal of Hazardous Substances at,   to, or from the Premises. Section 27.04 As used herein, "Hazardous Substances"   means any substance which is toxic, ignitable, reactive or corrosive or which   is regulated by "Environmental Laws." The term "Environmental   Laws" means federal, state and local laws and regulations, judgments,   orders and permits governing safety and health and the protection of the   environment, including without limitation the Comprehensive Environmental   Response, Compensation and Liability Act, 42 U.S.C. 9601 et seq., the   Resource Conservation and Recovery Act, 42 U.S.C. 6901 et seq., the Clean Water   Act, 33 U.S.C. 1251 et seq., the Clean Air Act, 42 U.S.C. 7401 et seq., the   Toxic Substance Control Act, 15 U.S.C. 2601 et seq., and the Safe Drinking   Water Act, 42 U.S.C. 300f through 300j, alt as amended. "Hazardous   Substances" includes any and all materials or substances which are   defined as "hazardous waste," "extremely hazardous waste"   or a "hazardous substance" pursuant to state, federal or local   governmental law. Hazardous Substances also includes asbestos, polychlorinated   biphenyls ("PCBs") and petroleum products. ARTICLE 28 Notices Any   notice, demand, consent, or approval (a "Notice") required by this   Lease shall be in writing and shall be deemed delivered when personally   delivered, sent by facsimile with receipt acknowledged, when delivered by any   nationally recognized overnight carrier that routinely issues delivery   receipts, or three (3) business days after being deposited in any depository   regularly maintained by the United States post office, postage prepaid,   certified mail, return receipt requested, or, in each case when delivery is   rejected or refused, to the addresses set forth in Article 1. Either party   may add additional addresses or facsimile numbers or change its address or   facsimile number for purposes of receiving Notices by providing the other   party at least ten (10) days prior Notice of such change or addition.   Tenant's billing contact is ap@carbonblack.com. ARTICLE 29 Inability To   Perform Except to the extent otherwise expressly set forth in this Lease,   this Lease and the obligation of Tenant to pay Rent and perform and comply   with all of the other covenants and agreements hereunder on the part of   Tenant to be performed and complied with shall in no way be affected,   impaired or excused because of Landlord's delay or failure to perform or   comply with any of the provisions hereunder on the part of Landlord to be   performed or complied with, 32

    

 

nor because   Landlord is unable to fulfill any of its obligations under this Lease, or to   supply or is delayed in supplying any service expressly or impliedly to be   supplied, or is unable to make or is delayed in making any repair, additions,   alterations or decorations, or is unable to supply or is delayed in supplying   any equipment or fixtures if Landlord is prevented or delayed from so doing   by reason of strike or labor troubles or any other cause whatsoever beyond   the control of Landlord, including governmental preemption in connection with   a national emergency or by reason of any rule, order or regulation of any   governmental authority or by reason of the conditions of supply and demand   which have been or are affected by war or other emergency. Landlord shall use   commercially reasonable efforts to correct and/or resolve any condition   identified in this Section 29. ARTICLE 30 Condition of the Premises;   Allowance Tenant has inspected the Premises and agrees (a) to accept   possession of the Premises in the condition existing on the Commencement Date   "as is" and (b) Landlord has no obligation to perform any work,   supply any materials, incur any expense or make any alterations or   improvements to prepare the Premises for Tenant's occupancy. Tenant's   occupancy of any part of the Premises shall be conclusive evidence, as   against Tenant, that Landlord has Substantially Completed any work to be   performed by Landlord under this Lease, Tenant has accepted possession of the   Premises in its then current condition and at the time such possession was   taken, the Premises and the Building were in a good and satisfactory   condition as required by this Lease. Tenant shall perform such leasehold   improvements in the Premises as it requires (the "Tenant Work").   The Tenant Work shall be subject to the provisions of Article 6 hereof.   Landlord shall provide an allowance in the amount of $72,700.00 (the Tl Allowance")   to be used by Tenant toward the cost of the design and construction of the   Tenant Work. The Tl Allowance may not be used for personal property or moving   expenses. The Tl Allowance shall be advanced to Tenant on a monthly basis, as   costs are incurred, within thirty (30) days after receipt of requisitions   from Tenant, which requisitions shall include contractor invoices,   architects' certificates for payment, lien waivers through the prior advance,   and such other items as Landlord shall reasonably require. Landlord shall not   be required to advance any portion of the Tl Allowance for any work that is   performed later than one (1) year after the date of this Lease, or for which   Landlord receives a requisition later than thirteen (13) months after the date   of this Lease, in no event shall Tenant be entitled to any cash payment, nor   any credit against Rent due under this Lease, in the event that the entire Tl   Allowance is not utilized. Within thirty (30) days after completion of the   Tenant Work, Tenant shall provide Landlord with "as-built" drawings   of the Tenant Work ARTICLE 31 Security Deposit Upon execution hereof, Tenant   has deposited with Landlord a security deposit equal to three (3) months of   average Base Rent (the "Security Deposit") for the faithful   performance and observance by Tenant of the terms, provisions and conditions   of this Lease. It is agreed that in the event Tenant defaults in respect of   any of the terms, provisions and conditions of this Lease beyond applicable   notice and cure periods, Landlord may draw on such Security Deposit to the   extent required for the payment of Rent or any other sum as to which Tenant   is in default, beyond applicable notice and cure periods, or any sum which   Landlord may expend or may be required to expend by reason of Tenant's   default in respect of any of the terms, covenants or conditions of this Lease   beyond applicable notice and cure periods In the event that Landlord 33

    

 

does draw on   the Security Deposit, Tenant shall within ten (10) days of receiving Notice   from Landlord, replenish the Security Deposit by the amount Landlord withdrew   therefrom and failure to do so within such ten (10) day period shall   constitute a default under this Lease. In the event of a sale of the   Property, Landlord shall transfer the Security Deposit to the new landlord,   and upon such transfer of the Security Deposit Landlord shall have no further   liability for the Security Deposit. In the event that, as of the 3rd   anniversary of the Rent Commencement Date, (i) no monetary default under this   Lease, beyond applicable cure periods, has occurred, even if subsequently   cured, and (ii) no non-monetary default, beyond applicable cure periods, then   exists, then the amount of the Security Deposit shall be reduced to $55,736.67.   ARTICLE 32 Arbitration Section 32.01 The parties have not agreed to arbitrate   all disputes arising pursuant to this Lease but rather only those matters   where arbitration is expressly provided for in this Lease. Any party who   fails to submit to binding arbitration following a lawful demand by the other   party shall bear all costs and expenses, including reasonable attorneys'   fees, incurred by the other party in obtaining a stay of any pending judicial   proceeding concerning a dispute, which by the terms of this Lease has been   properly submitted to mandatory arbitration, or compelling arbitration of any   such dispute, or both. Otherwise, each party shall bear its own attorneys'   fees in any arbitration. The party requesting arbitration shall do so by   giving Notice to that effect to the other party, specifying in said Notice   the nature of the dispute. All such arbitration hearings shall be held in the   City of Boston, Massachusetts, and determined by an independent single   arbitrator on an expedited basis pursuant to the Commercial Arbitration   Rules, then in effect, of the American Arbitration Association. The   qualification of any arbitrator shall be as follows: a real estate broker   with at least ten (10) years' experience in office leasing in Boston,   Massachusetts; a partner in a national accounting firm's Boston,   Massachusetts office, or a lawyer specializing in real estate matters, each   with at least ten (10) years' experience in the Boston, Massachusetts area.   Section 32.02 The arbitrator shall resolve all disputes in accordance with   the substantive law of the Commonwealth of Massachusetts. The arbitrator   shall have no authority nor jurisdiction to award any damages or any other   remedies beyond those which could have been awarded in a court of law if the   parties had litigated the claims instead of arbitrating them. The parties   shall not assert any claim for consequential or punitive damages, nor shall   the arbitrator have the power to impose such damages except to the extent   such awards are specifically authorized by statute. The arbitrator will not   have the authority to modify the provisions of this Lease. Neither provision   of nor the exercise of any rights under this Article shall limit the right of   Landlord to evict Tenant, or obtain provisional or ancillary remedies such as   an injunction, receivership, attachment or garnishment for breach of the   provisions of this Lease. Any arbitration proceeding may proceed in the   absence of any party who, after notice, fails to be present at such   arbitration. In such event, an award may be made based solely upon the   evidence submitted by the party who is present The arbitrator will render a   decision and award in writing within thirty (30) days after such proceeding   is concluded, and will deliver counterpart copies of the decision and award   to each of the parties. Unless otherwise agreed in writing by the parties or   unless this Lease has been terminated, during the pendency of this   arbitration, the parties will continue to comply with all the terms and   provisions of this Lease which are not the subject of the arbitration   proceeding. This agreement to arbitrate will be specially enforceable by   either party The decision or award rendered by the arbitrator will be final,   non-appealable, 34

    

 

and binding   upon the parties. Judgment may be entered upon it in accordance with   applicable Massachusetts law in a court of competent jurisdiction. ARTICLE 33   Miscellaneous Section 33.01 Intentionally Omitted. Section 33.02 The failure   of either party to seek redress for violation of, or to insist upon the   strict performance of any covenant or condition of this Lease or any of the   Rules shall not prevent a subsequent act which would have originally   constituted a violation, from having all the force and effect of an original violation.   No provision of this Lease shall be deemed to have been waived by either   party, unless such waiver be in writing. The receipt by Landlord of Rent with   knowledge of the breach of any covenant of this Lease shall not be deemed a   waiver of such breach. No payment by Tenant or receipt by Landlord of a   lesser amount than the Rent herein stipulated shall be deemed to be other   than on account of the earliest stipulated Rent, nor shall any endorsement or   statement on any check or any letter accompanying any check or payment as   rent be deemed an accord and satisfaction. Landlord may accept such check or   payment without prejudice to Landlord's right to recover the balance of such   Rent or pursue any other remedy in this Lease. No act by Landlord or its   agent shall be deemed an acceptance of a surrender of the Premises or an   agreement to accept such surrender unless in writing and signed by Landlord,   other than in connection with the expiration of this Lease. No employee of   Landlord or its agent shall have any power to accept the keys to the Premises   and the delivery of the keys shall not operate as a termination of this Lease   or surrender of the Premises. The parties acknowledge that the provisions of   this Section 33.02 are an essential and material part of this Lease. Section   33.03 This Lease with the schedules annexed hereto contains the entire   agreement between Landlord and Tenant, and all prior negotiations and   agreements between the parties are merged into this Lease. No agreement   hereafter made between Landlord and Tenant shall be effective to, modify any   provision of this Lease unless such agreement is in writing and signed by the   party against whom enforcement is sought. Section 33.04 If any term or   provision of this Lease shall to any extent be invalid or unenforceable, the   remainder of this Lease shall not be affected thereby, and the balance of the   terms and provisions of this Lease shall be valid and enforceable to the   fullest extent either provided hereunder or as permitted by law. If any   interest rates or fees charged to Tenant under the circumstances then   prevailing shall not be lawful, then such rates or fees shall be reduced to   the maximum lawful rate. Section 33.05 The captions of articles in this Lease   are inserted only as a matter of convenience and for reference and they in no   way define, limit or describe the scope of this Lease or the intent of any   provision thereof. Section 33.06 Landlord and Tenant waive the right to a   trial by jury in any action, counterclaim, proceeding or litigation arising   out of, under or in connection with, or related to, the subject matter of   this Lease. This waiver is knowingly, intentionally, and voluntarily made by   Tenant and Tenant acknowledges that neither Landlord nor any person acting on   behalf of Landlord has made any representations of fact to induce this waiver   of trial by jury or in any way to modify or nullify its effect. Tenant   further acknowledges that it has been represented (or has had the opportunity   to be represented) in the negotiation and execution of this Lease and in the   35

    

 

making of this   waiver by independent legal counsel, selected of its own free will, and that   it has had the opportunity to discuss this waiver with counsel. Section 33.07   Landlord or Landlord's agents have made no representations or promises with   respect to the Premises or the Property except as herein expressly set forth,   and no rights, easements or licenses are acquired by Tenant by implication or   otherwise except as expressly set forth in the provisions of this Lease.   Section 33.08 This Lease is offered to Tenant for signature with the express   understanding that it shall not be binding upon Landlord or Tenant unless and   until Landlord and Tenant have executed and delivered a fully executed copy   to each other. Section 33.09 This Agreement is to be governed by and   construed under the laws of the Commonwealth of Massachusetts. Section 33.10   With the exception of Tenant's obligations set forth in Section 26.02 hereof,   in no event shall Landlord or Tenant be liable for any consequential,   special, punitive or indirect loss or damage which Tenant or Landlord may   incur or suffer in connection with this Lease or any services or duties to be   performed or provided pursuant hereto. Section 33.11 Except as may be   specifically otherwise provided in this Lease, reference in this Lease to   "approval," "consent", "judgment" and   "satisfactory" shall not be interpreted as justifying arbitrary   rejection, but rather shall connote a reasonable application of judgment   taking into account long-term leasing practices and commercial customs   relating to major real estate transactions involving institutional financing.   Section 33.12 Anything in this Lease to the contrary notwithstanding, Tenant   agrees that it shall look solely to the estate and property of Landlord in   the Property (including any net proceeds received by Landlord upon sale of   the Property), subject to the rights of any prior mortgagee, for the   collection of any judgment (or other judicial process) requiring the payment   of money by Landlord in the event of any default or breach by Landlord, and   no other assets of Landlord shall be subject to levy, execution or other   procedures for the satisfaction of Tenant's remedies. Section 33.13 Wherever   used in this Lease, unless the context clearly indicates a contrary intent or   unless otherwise specifically provided herein, the word "Lease"   shall mean this Lease and any schedules or supplements hereto. Whether or not   specifically stated in any provision of this Lease, reference therein to (i)   any law, statute, ordinance, code, rule, regulation or the like shall mean   and include any and all modifications, amendments and replacements thereof,   (ii) the phrase "including" shall mean "including, without   limitation" and (iii) any right of Landlord shall mean, unless expressly   provided therein to the contrary, such right without any corresponding   obligation. No inference in favor of or against any party shall be drawn from   the fact that such party has drafted any portion of this Lease. Section 33.14   The covenants, conditions and agreements contained in this Lease shall bind   and inure to the benefit of the parties hereto and their respective heirs:   legal representatives, successors and, except as otherwise provided herein,   their assigns. Tenant shall be responsible to ensure that all officers,   employees, customers, visitors, salesmen, agents, invitees, licensees,   contractors and all other persons present at the Property through Tenant   shall comply with the provisions of this Lease and the Rules. 36

    

 

Section 33.15   The term "Tenant" shall mean Tenant and any subsequent holder or   holders of this Lease; and pronouns of any gender shall include the other   gender; and either the singular or plural shall include the other. The term   "Landlord" wherever used in this Lease shall be limited to mean and   include only the owner or owners at the time in question of the Building or a   mortgagee in possession, so that in the event of any sale, assignment or   transfer of the Building or of such underlying lease, such assigning owner,   tenant under the underlying lease or mortgagee in possession shall thereupon   be released and discharged from all covenants, conditions and agreements of   Landlord hereunder that accrue after the date of the sale, assignment or   transfer, but such covenants, conditions and agreements shall be binding for   the time being upon each new owner, tenant under the underlying lease or   mortgagee in possession of the Building, until again sold, assigned or   transferred. Section 33.16 The terms and conditions of this Lease, including   all Schedules, shall be kept confidential by both parties and shall not be   disclosed to any third parties, except on a "need to know" basis or   as may be required by law, without the prior written consent of Landlord. The   provisions of this Section 33.16 shall also apply to any so-called   "lease audit" and any settlement arising therefrom. As a condition   for Landlord to provide any information to or cooperate with any lease   auditing firm or any accountants or attorneys engaged by Tenant to review the   rents or other charges payable pursuant to this Lease, such agents shall be   required to execute a confidentiality agreement prohibiting such agents from   sharing any of the information or results of any such audit with any other   party and specifically any other tenants of the Building or any other office   building on the Property. Section 33.17 Upon Notice from Landlord, which may   not be given more than once each calendar year, Tenant shall provide, within   fifteen (15) business days, financial statements prepared by its regularly   retained certified public accountant. In any event that Tenant does not have   such financial statements generally prepared, Tenant shall provide financial   statements prepared in accordance with generally accepted accounting   principles consistently applied and certified by its chief financial officer.   Section 33.19 Tenant shall not record this Lease but will, at the request of   Landlord, execute a memorandum or notice thereof in recordable form satisfactory   to both the Landlord and Tenant specifying the date of commencement and   expiration of the term of this Lease and other information required by   statute. Either Landlord or Tenant may then record said memorandum or notice   of lease. Section 33.20 If Landlord's mortgagee requires modifications of the   terms of this Lease, Tenant shall not unreasonably withhold approval of an   amendment to this Lease that incorporates such modifications, provided the   same do not materially adversely affect Tenant's rights or obligations under   this Lease, including without limitation that there shall be no rent   increase. Section 33.21 If any excavation or construction is made adjacent   to, upon or within the Building, or any part thereof, Tenant shall afford to   any and all persons causing or authorized to cause such excavation or   construction license to enter upon the Premises for the purpose of doing such   work as such persons shall deem necessary to preserve the Building or any   portion thereof from injury or damage and to support the same by proper   foundations, braces and supports, without any claim for damages or indemnity   or abatement of rent, or of a constructive or actual eviction of Tenant.   Landlord will use commercially reasonable efforts to minimize any   interference with Tenant's business as a result of this Section 33.21. 37

    

 

Section 33.22   Landlord shall, at its cost, include Tenant's name on the lobby directory.   Tenant shall be responsible for suite signage, which shall be subject to   Landlord's approval, which approval shall not be unreasonably withheld.   ARTICLE 34 Right of First Offer Provided that this Lease is in full force and   effect and Tenant is not in default hereunder, Tenant shall have a one-time   right of first offer on any space on the 3rd floor of the Building that is   contiguous to the Premises in accordance with this Article 34. In the event   that any space on the 3rd floor of the Building that is leased as of the date   of this Lease, or any space on the 3rd floor of the Building that if vacant   as of the date of this Lease subsequently becomes leased, and such space is   Available for Lease, Landlord shall, before leasing such space ("ROFO   Space") to any party other than the then tenant of the space, shall   notify Tenant in writing, which notice (a "ROFO Notice") shall   contain all of the material conditions under which Landlord is prepared to   lease the ROFO Space to Tenant. Tenant shall have fifteen (15) Business Days   from receipt of a ROFO Notice, time being of the essence, to advise Landlord,   in writing, that it has elected to lease such ROFO Space. If Tenant so   notifies Landlord, then Landlord and Tenant shall enter into an amendment of   this Lease that incorporates the ROFO Space in question into the Premises, on   the terms and conditions set forth in ROFO Notice, if Tenant fails to timely   exercise its right of first offer, then it shall have no further rights under   this Article 34 as to that ROFO Space. If Tenant exercises on a timely basis   but thereafter fails to execute and deliver to Landlord the amendment to this   Lease within fifteen (15) days after receipt from Landlord, then at   Landlord's option, Tenant's exercise shall be void and Tenant shall thereupon   have no further rights under this Article 34 with respect to that ROFO Space.   Space shall be deemed "Available for Lease" if that space becomes   vacant or is scheduled to become vacant in the next twelve (12) months, at   any time during the term of this Lease. Space shall not be deemed to be   Available for Lease if the existing tenant thereof wishes to remain in such   space, pursuant to the exercise of a renewal option, but not otherwise.   [Signatures on Next Page] 38

    

 

IN WITNESS   WHEREOF, Landlord and Tenant have respectively signed and sealed this Lease as   of the date first above written. CARBON BLACK, INC. 201 SOUTH STREET OWNER,   LLC By: /s/ 

    

 

 

SCHEDULE A   201-207 SOUTH STREET THE LAND I9S-201 South Street and SO Utica Street.   Boston Porcel 1 A certain parcel of registered land situated in Boston, in   the County of Suffolk and Commonwealth of MA, bounded and described as   follows: Southeasterly by South Street, thirty and 79/100 (30.79) feet;   Southwesterly by land now or formerly of Renton Whidden the line running in   part through a partition wall, sixty and 76/100 (60,76) foot; Southeasterly   by said Whidden land, nine and 6/100 (9.06) feet; Southwesterly by a   passageway, thirty-seven and 6/100 (37.06) feet; Northwesterly by land now or   formerly of Helen S. Hunt, the line miming in part through the middle of a   partition wall, fifty-five and 22/100 (55.22) feet; Northwesterly by Utica   Place, thirty -seven and 88/100 (37.88) feet; Southeasterly by land now or   formerly of John Lawrence et al Trustees, the line running through the middle   of a pany wall, fourteen and 967100 (14.96) feet and; Northeasterly by said   Lawrence et al Trustees land, the line running through the middle of the   party wall, fifty-eight and 01/100 (58.01) feet All of said boundaries are   determined by the Court to be located as shown on two plans drawn by S.L,   Leftovith, Surveyor, dated July 14,1915, and April A, 1915 as modified and approved   by the Conn, fded in the Land Registration Office as Plan Nos. 5527-A and   ^659-A. copies of a portion of which are filed with certificates of title No.   7546 nndNo. 8293, respectively. Together with the right to use the passageway   as shown on said plans and said Utica Place in common with other entitled   thereto, for any purposes for which streets are commonly used in the City of   Boston. Together with the benefit of rights with related to the brick wall   set forili In an agreement by and between John Lawrence et al, Trustees and   Frederick J. Woyand, dated August 25,1915 and duly recorded with the Suffolk   County Registry of Deeds in Book 3903. Pnao 186. 

    

 

SCHEDULE B 201-207   SOUTH STREET PREMISES [attached hereto] 

    

 

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SCHEDULE C 201-207   SOUTH STREET BUILDING RULES Rules and Regulations for Tenants Tenant agrees   to observe the rights reserved to Landlord in the Lease and agrees, for   itself, its employees, agents, Tenants, customers, invitees and guests, to   comply with the following rules and regulations and with such reasonable   modifications thereof and additions thereto as Landlord may make, from time   to time, for the Building, provided that Tenant has received written notice   of such additions. Any sign, lettering, curtain, picture, notice, or   advertisement within the Premises (including, but not limited to Tenant   identification signs on doors to the Premises) which is visible outside of   the Premises shall be installed at Tenant's cost and in such manner,   character and style as Landlord may approve in writing, which consent shall   not be unreasonably withheld, conditioned or delayed. No sign, lettering,   picture, notice or advertisement shall be placed on any outside window or in   any position so as to be visible from outside the Building or from any atrium   or lobbies of the Building. Tenant shall not use the name of the Building   (except as a part of Tenant's address at the Premises) or use pictures or   illustrations of the Building in advertising or other publicity, without   prior written consent of Landlord. Tenant, its customers, invitees,   licensees, and guests shall not obstruct sidewalks, entrances, passages,   courts, corridors, vestibules, halls, elevators and stairways in and about   the Building. Tenant shall not place objects against glass partition or doors   or windows or adjacent to any open common space which would be unsightly from   the Building corridors or from the exterior of the Building, and will   promptly remove the same upon Notice from Landlord. Tenant shall not make   noises, cause disturbances, create vibrations, odors or noxious fumes or use   or operate any electrical or electronic devices or other devices that emit   sound waves or are dangerous to other tenants and occupants of the Building   or that would unreasonably interfere with the operation of any device or   equipment or radio or television broadcasting or reception from or within the   Building or elsewhere, or with the operation of roads or highways in the   vicinity of the Building and shall not place or install any projections,   antennae, aerials or similar devices inside or outside of the Premises. 5.   Tenant shall not make any room-to-room canvass to solicit business from other   tenants in the Building and shall not exhibit, sell or offer to sell, use,   rent or exchange any item or services in or from the Premises unless   ordinarily embraced within Tenant's use of the Premises as specified in its   lease. 

    

 

Tenant shall   not waste electricity or water and agrees to reasonably cooperate fully with   Landlord to assure the most effective operation of the Building's heating and   air conditioning. Tenant shall keep public corridor doors closed. Door keys   for doors in the Premises will be furnished at the commencement of the Lease   by Landlord. Tenant shall not affix additional locks on doors and shall   purchase duplicate keys only from Landlord. When the Lease is terminated,   Tenant shall return all keys to Landlord and will provide to Landlord the   means of opening any safes, cabinets or vaults left in the Premises. Tenant   assumes full responsibility for protecting its space from theft, robbery and   pilferage, which includes keeping doors locked and other means of entry to   the Premises closed and secured. Peddlers, solicitors and beggars shall be   reported to the office of the Building or as Landlord otherwise   requests-Tenant shall not install nor operate machinery or any mechanical   devises of a nature not directly related to Tenant's ordinary use of the   Premises without the written permission of Landlord. No person or contractor   not employed by Landlord shall be used to perform window washing cleaning,   decorating, repair or other work in the Premises, unless Tenant has received   prior approval from Landlord and all necessary insurance is provided to   landlord prior to work commencement. Tenant may not and Tenant shall not   permit or suffer anyone to: Cook in the Premises (other than microwave   cooking for employees only); Place vending or dispensing machines of any kind   in or about the Premises; or At any time sell, purchase, or give away, or   permit the sale, purchase or gift of, food in any form. Tenant shall not: C-2   

    

 

 a) Use the Premises for lodging,   manufacturing or for any illegal purposes, or for any of the following   purposes: : (i) massage parlor, tattoo parlor, adult bookstore, adult   entertainment facility, a so-called "head" shop, off-track betting,   gambling, gaming or check cashing facility; (ii) amusement park, carnival,   banquet facility, dance hall, disco, nightclub, video game, virtual reality   or laser tag room or facility, pool hall or arcade; (iii) any facility   related to the occult sciences, such as palm readers, astrologers, fortune   tellers, tea leaf readers or prophets; or (iv) any use which constitutes a   public or private nuisance or produces objectionable noise or vibration. b) Use   the Premises to engage in the manufacture or sale of, or permit the use of   any spirituous, fermented, intoxicating or alcoholic beverages on the   Premises; or c) Use the Premises to engage in the manufacture or sale of, or   permit the use of any illegal drugs on the Premises. 14. In no event shall   any person bring into the Building inflammables such as gasoline, kerosene,   naphtha and benzene or explosives or firearms or any other article of   intrinsically dangerous nature. If by reason of the failure of Tenant to   comply with the provisions of this paragraph any insurance premium payable by   Landlord for all or any part of the Building shall at any time be increased   above normal insurance premiums for insurance not covering the items   aforesaid. Landlord shall have the option to either terminate the Lease or to   require Tenant to make immediate payment for the whole of the increased   insurance premium. 15. Tenant shall comply with ail applicable federal, state   and municipal laws, ordinances and regulations and building rules, and shall   not directly or indirectly make any use of the Premises which may be   prohibited thereby or which shall be dangerous to person or property or shall   increase the cost of insurance or require additional insurance coverage. 16.   If Tenant desires signal, communication, alarm or other utility or service   connection installed or changed, the same shall be made at the expense of   Tenant, with approval and under direction or Landlord. 17. Bicycles shall not   be permitted in the Building in other than Landlord-designated locations. 18.   Tenant shall reasonably cooperate and participate in all security programs   affecting the Building. C-3 

    

 

 19. In the event Landlord allows one or more   tenants in the Building to do any act prohibited herein, Landlord shall not   be precluded from denying any other tenant the right to do any such act. 20. Tenant,   or the employees, agents, servants, visitors or licensees of Tenant shall not   at any time place, leave or discard any rubbish, paper, articles, or objects   of any kind whatsoever outside the doors of the Premises or in the corridors   or passageways of the Building. No animals or birds shall be brought or kept in   or about the Building (other than for the assistance of special needs   individuals). 21. Landlord shail have the right to prohibit any advertising   by Tenant which mentions the Building and which in Landlord's reasonable   opinion, tends to impair the reputation of the Building or its desirability   for offices, and, upon written notice from Landlord, Tenant will refrain from   or discontinue such advertising. 22. Tenant shall not mark, paint or drill   into, or in any way deface any part of the Building or the Premises. No   boring, driving of nails or screws, cutting or stringing wires shall be   permitted, except with the prior written consent of Landlord and as Landlord   may direct. Tenant shall not install any resilient tile or similar floor   covering in the Premises except with the prior approval of Landlord. The use   of cement or other similar adhesive material is expressly prohibited. 23.   Landlord shall have the right to limit or control the number and format of   listings on the main Building directory, provided, however, that Tenant shall   at all times be listed thereon. 24. Tenant's use of delivery areas, loading   areas and freight elevators shall be scheduled in advance with Landlord and   shall be subject to the approval of Landlord, which approval shall not be   unreasonably withheld, conditioned or delayed. 25. Entry and exiting to and   from the Building and use of all roads, driveways and walkways to the   Building shall be subject to such traffic and use rules and regulations as   Landlord may promulgate and provide to Tenant from time to time. 26. Tenant   shall not place a load upon any floor of the Building exceeding the lesser of   the floor load which such floor was designed to carry or that allowed by law.   27. Normal Business Operating Hours are 8:00 AM to 6:00 PM Monday through   Friday, excluding Holidays (as defined in the Lease) (and the applicable   weekday when any such day occurs on a weekend day) C-4 

    

 

 28. Intentionally Omitted. 29. Landlord   reserves the right to establish, modify and enforce parking rules and   regulations. 30. Plumbing, fixtures and appliances shall be used only for the   purposes for which designed, and no sweepings, rubbish, rags or other   unsuitable material shall be thrown or deposited therein. Damage resulting to   any such fixtures or appliances from misuse by a tenant or its agents,   employees or invitees, shall be paid by such tenant. 31. Movement in or out   of the Building for the purposes of construction, furniture/office equipment   deliveries, or dispatch/receipt by tenants of any bulky material, merchandise   or materials which require use of elevators or stairways, or movement through   the Building entrances or lobby shall be conducted under Landlord's   supervision at such times and in such a manner as Landlord may reasonably   require. All such activities must be performed during non-business hours.   Business hours are 8am-6pm, Monday -Friday and 8am-1pm Saturdays. Each tenant   assumes all risks of and shall be liable for all damage to articles moved and   injury to persons or public engaged or not engaged in such movement,   including equipment, property and personnel of Landlord if damaged or injured   as a result of acts in connection with carrying out this service for such   tenant. 32. To ensure orderly operation of the Building, no ice, mineral or   other water, towels, newspapers, etc. shall be delivered to any leased area   except by persons approved by Landlord. 33. Landlord will not be responsible   for lost or stolen personal property, money or jewelry from Tenant's leased   premises or public or common areas regardless of whether such loss occurs   when the area is locked against entry or not. 34. Tenant shall not conduct   any activity on or about the Premises or Building which will draw pickets,   demonstrators, or the like. 35. No tenant may enter into phone rooms,   electrical rooms, mechanical rooms, or other service areas of the Building   unless accompanied by Landlord or Building manager. 36. Tenant shall not   permit its employees, invitees or guests to smoke cigarettes or any other lit   product, or any e cigarette or any other vapor or smokeless cigarette or   product in the Premises or the lobbies, passages, corridors, elevators,   vending rooms, rest rooms, stairways or any other area shared in common with   other tenants in the Building, or permit its employees, invitees, or guests   to loiter at the Building entrances for the purpose of smoking cigarettes or   any other lit product, or any e cigarette or any other vapor or smokeless   cigarette or product. Landlord may, but shall not be required to, designate   an area for smoking outside the Building and more than five feet from any   entrance/exit to the building. C-5 

    

 

Specific   Requirements for Contractors Business Hours: Normal Business hours are 8:00   a.m. to 6:00 p.m., Monday through Friday, and 8:00 a.m. to 1:00 p.m. on   Saturday. 1. The following work must be done outside of normal business hours   unless otherwise consented to in writing by Landlord: • Demolition above and   below occupied space which may cause disruption to other tenants in the   building on other floors. • Coring for electrical/telephone floor outlets   above occupied space. • Oil based or "Polymyx" painting on occupied   multi-tenant floors (latex paint work allowed). • Any work performed outside   of project site. • Shooting of studs into deck for mechanical fastening   devices (allowed until 8:00 a.m.) under occupied floors. Property Manager   must be notified in advance in order to inform other tenants this work will   be performed. • Drilling into deck for mechanical devices (allowed until 8:00   a.m.) • Testing of life safety and sprinkler tie-ins. • Deliveries via   tractor/trailer trucks unless previously approved by Property Manager. 2. Dollies   and carts should be fitted with rubber wheels but not allowed in Lobby. 3. Dragging   of ladders, dropping of material is to be avoided over occupied floors. 4. All   work performed outside of project site must be coordinated with the Property   Manager from Lincoln Property Company. 5. Notification for Requests: The   contractor must notify Lincoln Property Company forty-eight hours in advance,   in writing, for approval on the following requests. Notice should be sent to:   sbarber@lpc.com, with copies to: fswarav@lpc.com and itromblev@lpc.com.   Emergency service may be provided with 24 hours' notice. • Freight elevator   usage after hours • Sprinkler/life safety shutdown • HVAC shutdown • Access   to site after normal business hours • Major deliveries and tenant relocations   • Coordination with building staff • Trash removal operation • Security detail   • Any work/activity not noted above or performed during non-business hours 6.   Parking: There is no contractor parking available at the Receiving Area. The   Receiving Area is to be used for unloading equipment and materials only. C-6 

    

 

7. Freight   Elevator: One passenger elevator doubles as the freight when properly padded.   The freight elevator must be used at all times to access or egress the work   area. Construction workers should not use the emergency stairwells to access   other floors unless and emergency situation arises or as approved by property   management. 8. Demolition: Contractor must use hard plastic hampers to   transport debris from work area to loading dock. Queue on the work floor   while transporting debris. 9. Deliveries: Absolutely no deliveries will be   allowed through the main lobby. Deliveries must be scheduled in advance with   Lincoln Property Company to coordinate the use of the loading area on Binford   St. and the freight elevator. The delivery of sheet rock, light fixtures and   other like material must be scheduled during non-business hours unless   approved by the Property Manager or on-site LPC staff. 10. Cleaning &   Rubbish Removal: The contractor is responsible for leaving the freight   elevator and related work areas "broom clean". The contractor will   incur costs for clean­up if areas are left dirty, including servicing of   freight elevator for demolition debris not transported properly. Rubbish   cannot be stored in the work area and must be disposed of on a regular basis.   11. Permit: Contractor will post building permit, preferably on a conspicuous   wall of the construction site while work is being performed. Contractor shall   supply Property Manager with a copy of all permits prior to the start of any   work. 12. Suite Carpet Protection: Prior to demolition, if carpet is to   remain in the suite, it is to be protected by a heavy plastic cover or   removed, stored and re-installed upon completion of work. 13. Common Area   Carpet/Flooring Protection: Public area corridor and carpet is to be   protected by plastic runners or a series of walk-off mats from the elevator   to the suite under construction. Walk-off mats are to be provided at entrance   doors. 14. Screening: Contractor shall provide heavy plastic screening for   dust protection and/or temporary walls of suitable appearances as required by   Property Management to screen the construction site. 15. Window Treatment   Protection: Window treatments within a suite or affected area must be bagged   and protected prior to commencement of work. 16. Utilities-No Interruption:   No utilities (electricity, water, gas, and plumbing) or services to the   tenants are to be cut off or interrupted without first having requested, in   writing, and secured, in writing, the permission of the Property Manager. 17.   Electrical Service: No electrical services are to be put on the emergency   circuit, without specific written approval from the Property Manager. 18. Utility   Meters: If utility meter installation is required, contractor must provide   the Property Manager with a copy of the operating instructions for that   particular meter. 19. Contractor/Subcontractor Employee Listing and   Schedules: The Property Manager will be notified of all work schedules of all   workmen on the job and will be notified, in writing, C-7 

    

 

of names of   those who may be working in the Building after "normal" business   hours. If Lincoln Property Company employee works after normal hours, the   tenant will be billed for his time. Provided that Tenant is first notified in   writing. 20. Contractor/Subcontractor Employee Specific Behavior: • Radios   are allowed at a reasonable noise level • All workers are required to wear a   shirt, shoes and full-length trousers • Protection of hallway carpets, wall   coverings, granite and marble and elevators from damage with masonite board,   carpet, cardboard or pads is required. • Public spaces, corridors, elevators,   restrooms, lobby, etc. must be cleaned immediately after use. Construction   debris or materials found in public areas will be removed at the offender's   cost. • No smoking, eating or open food containers in the elevators, carpeted   areas, building perimeter or public lobbies. • No yelling or boisterous   activities. • There will be no alcohol or controlled substances allowed or tolerated.   Individuals under their influence or in possession of such will be   prosecuted. 21. Contractor shall post no signs without Property Manager's   express approval, which may be withheld for any reason 22. All construction   materials or debris must be stored within the project confines or in an   approved lock-up. There will not be any materials stored in the stairwells. 23.   Any work performed on base building systems (i.e. roofing, HVAC, glass   curtain wall, etc.) that could impact existing warranties shall be   coordinated with the Property Manager prior to performing said work. If the   Property Manager stipulates that a certain company/subcontractor/vendor must   be used in order to preserve a warranty, then the Contractor shall comply. 24.   Contractors shall be permitted to use the janitor's sink for water supply on   the floor(s) on which the construction occurs, however, contractors shall   ensure that no drywall, mud, flammables or any other substance that could   stop up the sanitary sewer system or be potentially hazardous, are put   therein. 25. This is a "No Smoking" Building C-8 

    

 

Tenant   Construction Rules and Regulations General Requirements 1. To the extent   reasonably required given the scope and complexity of the proposed   Alteration, Tenant must submit Construction Documents (plans and   specifications) to Lincoln Property Company for approval. A minimum of four   (4) weeks or the time period required under the lease document, whichever is   longer, is needed prior to commencement of the project. 2. Lincoln Property   Company reserves the right to approve and restrict any sub­contractor,   contractor or employee for any trade performing work in the building. A   pre-qualification statement must be submitted to Lincoln Property Company for   sub-contractors who have not performed work with Lincoln Property Company   within the last two (2) years or on jobs of comparable size and dollar value.   3. To the extent reasonably required given the scope and complexity of the   Alteration, record of As-built drawings must be submitted within 30 days of   the completion of the project. 4. Tenant must submit to Lincoln Property   Company the following items two (2) weeks prior to the commencement of the   project. A. Name of General Contractor/Construction Management Firm B. Sub-contractor   list for approval C. Certificates of Insurance from general contractor and   subcontractor in compliance with insurance guidelines. 201 South Street Owner   LLC, ClearRock Properties LLC, Lincoln Property Company and must be named as   additional insured and LPC Commercial Services, Inc. to be the certificate   holder. D. Copy of Demolition Permit (if applicable). E. Copy of Building   Permit (if applicable) F. Copy of Long-Form or Fast-Tract Application to   Building Department (if applicable) G. Construction Schedule (if reasonably   required given the scope and complexity of the project) H. Project directory   to include: Name of firm, address, contacts and telephone number 5. Tenant   must submit Certificate of Occupancy at completion of project (if applicable)   6. Tenant must schedule a project meeting with Lincoln Property Company   construction coordinator two (2) weeks prior to commencement of project. Weekly   project meetings are required for major construction projects. The Lincoln   Property Company construction coordinator may attend meetings as deemed   necessary. The construction coordinator must receive a copy of the minutes on   a weekly basis C-9 

    

 

7. Air   balancing by contractor is required two (2) weeks before project is   completed. 8. Testing of sprinkler system and fire protection devices is   required two (2) weeks prior to completion of project and to obtain   Certificate of Occupancy. 9. The Lincoln Property Company design/engineering   review team may inspect contractor work in progress for compliance with   applicable code and building standards. 10. Lincoln Property Company reserves   the right to restrict life safety design (sprinkler and fire protection) to   its approved design engineers. 11. All contractor work shall be performed in accordance   with all applicable laws and codes, Boston Fire Department and Lincoln   Property Company Construction Guidelines. 12. Two hundred pound (200 lb)   pressure test of sprinkler system is required two (2) weeks prior to   completion of project. Sprinkler contractor test certificates are due to   Lincoln Property Company at that time. 13. Sprinkler contractor must provide   five (5) sets of sprinkler drawings for approval by the insurance company. 14.   All questions should be referred to Lincoln Property Company at 60 South St.,   Suite 1020, Boston, MA 02111 - or via email to the General manager, Sarah   Barber, at: sbarber@lpc.com. C-10 

    

 

Vendor/Subcontractor   Insurance Specifications 1. General Liability coverage in the form of a   Comprehensive General Liability policy or a Commercial Liability policy with   a broad form of CGL endorsement included in the coverage. The insurance   company issuing said policy must be rated B+ or better by Bests ratings. 2. The   general liability in Item #1 must be on an occurrence basis with per   occurrence and aggregate limits of liability of no less than $5,000,000. This   limit can be provided through a combination of primary general liability   policy and an umbrella liability policy or other multi-property "blanket"   liability coverage. If there are any deductibles or self-insured retention,   please state this. 3. Automobile liability coverage no less than $1,000,000   combined single limit each occurrence and Worker's Compensation coverage must   be Statutory and no less than $500,000. 4. The following MUST be named as   additional insured as their interests may appear: Certificate holder: LPC   Commercial Services, Inc., as Agent Additional insured must be listed exactly   as follows - no exceptions: 201 South Street Owner LLC ClearRock Properties   LLC Lincoln Property Company This information MUST appear as indicated above.   If you have any questions, please feel free to call the office at (617)   275-7000 Ext. 5. 5. Should any of the above described policies be canceled,   not renewed, changed materially in amount of coverage or changed in insuring   form, the vendor/subcontractor's insurance company will give 30 days prior   written notice to Lincoln Property Company, 60 South St., Suite 1020, Boston,   MA 02111. Please note that Lincoln Property Company's minimum requirements,   as noted above and attached, in no way restricts your liability for any   claims in excess of your policy limits. 

    

 

SCHEDULED 201-207   SOUTH STREET CLEANING SPECIFICATIONS The following cleaning functions will be   performed before or after Standard Building Hours: 1. In Tenant Areas: 1. All   hard flooring to be swept and/or dust mopped five (5) times per week. 2. All   carpeted areas and rugs to be vacuumed three (3) times per week. 3. Wastepaper   baskets to be emptied five (5) times per week. 4. Dust furniture, windowsills   and convectors provided free of papers, etc. five (5) times per week. 5. Ledges,   and moldings and Venetian blinds to be high dusted semi-annually. 6. Clean   all exterior windows on the inside semi-annually, provided that windowsills   are free of any articles and access to the windows is not obstructed. 2. In   Common Areas: 1. All stairways to be swept five (5) times per week. Wet   mopped and buffed as needed. 2. Walls and interior surfaces of lobby   including glass, doors and furniture to be cleaned five (5) times per week. 3.   Lobby granite floors to be maintained nightly, with finish applied and buffed   as needed. 4. Walls, doors, saddles, and luminous ceilings of elevator cabs   to be cleaned five (5) times per week. 5. Entrance lobby glass to be washed   or wiped five (5) times per week. 6. Outside of all exterior windows to be   washed semi-annually. 3. In Public Lavatories: 7. All flooring to be swept   and washed, using disinfectant in water five (5) times per week. 8. All   basins, bowls, urinals and toilet seats to be washed five (5) times per week.   Lavatory walls and stall partitions to be cleaned as needed. 9. All mirrors   to be washed five (5) times per week. 

    

 

10. Paper towel   and sanitary disposal receptacles to be emptied and cleaned five (5) times   per week. Plastic liners to be provided for all receptacles. 11. Toilet   tissue holders, soap and paper towel dispensers to be filled five (5) times   per week. 12. Air deodorizers to be provided and maintained. 

    

 

SCHEDULE E 201-207   SOUTH STREET TENANT ALTERATION SPECIFICATIONS Prior to commencing any   alterations work in the Premises, if reasonably in connection with the scope   and complexity of the proposed alteration (i.e., Tenant shall not be required   to submit such drawings in connection with Cosmetic Alterations)Tenant shall   submit to Landlord final and complete dimensional architectural and   mechanical drawings and specifications for partitions, layouts, including   openings, ceiling and lighting layouts, electrical outlets, colors, finishing   schedule, and any and all other information as may be necessary to complete   the Premises. All such work including demolition of existing improvements   shall hereinafter be referred to as "Alterations". All plans shall   be prepared only by architects and mechanical engineers licensed to do   business in Massachusetts and reasonably approved by Landlord. All plans,   including mechanical plans, shall be prepared at Tenant's expense and shall   be consistent with the design, construction and equipment of the Building and   in conformity with its standards and shall show the location and extent of   any excess floor loading and all special requirements for air-conditioning,   plumbing and electricity, and the estimated total electrical load, provided,   however, that Tenant may apply any allowance towards the cost thereof. All   such plans and specifications are expressly subject to Landlord's written   approval, as provided in Article 6. Tenant shall bear the cost and expense of   filing such plans and specifications with the appropriate governmental   agencies (if applicable). Landlord's contractor (or a contractor reasonably   approved by Landlord) shall perform alterations to the Premises and, prior to   proceeding with any Alterations except for the initial Work, shall submit to   Tenant a fixed price for the cost thereof. The fixed price shall be based on,   and shall include copies of, at least two bids for each of the major trades.   Tenant shall nevertheless pay the fixed price for the cost of all Alterations   (as changed by any change orders signed by Tenant), plus Contractor's general   conditions and Contractor's fee, plus an administrative fee to Landlord in   the amount of 5% of all hard costs. This paragraph shall not apply to   Tenant's initial build out of the Premises. If any work is performed by   Landlord's contractor on Tenant's behalf, invoices (together with any and all   supporting documentation reasonably required by Tenant) shall be submitted to   Tenant on a monthly basis, based on the percentage of work completed and   shall be payable within thirty (30) days of receipt. The foregoing relates   specifically to Alterations undertaken by Tenant pursuant to Article 6 of   this Lease, and not to the Tenant Work pursuant to Article 30 hereof 

    

 

SCHEDULE F   INTENTIONALLY OMITTED 

    

 

SCHEDULE G   TENANT ESTOPPEL CERTIFICATE TO: Eastern Bank ("Lender"! 265   Franklin Street Boston, MA 02110 RE: 201-207 South Street Boston,   Massachusetts The undersigned, as tenant under that certain lease dated , 20 (the   "Lease"), made with 201 South Street Owner LLC, as landlord, for   approximately square feet of space at property owned by landlord known as and   numbered 201-207 South Street in Boston, Massachusetts (the   "Property"), hereby certifies as follows: (1) That the tenant is in   occupancy of the premises described in the Lease (the "demised   premises") and is conducting its business therefrom solely for the use   or uses permitted under the Lease. (2) That the Lease is in full force and   effect and has not been assigned, modified, supplemented or amended in any   way and there are no other agreements between the parties thereto, except as   follows: (3) That the commencement date of the term of the Lease is . (4) That   the expiration date of the term of the Lease is . The tenant has no rights to   renew or extend the term of the Lease except as follows: (5) To the best of   Tenant's knowledge, that all conditions of the Lease to be performed by the   landlord and necessary to the enforceability of the Lease have been   satisfied. (6) To the best of Tenant's knowledge, that there are no defaults   by either the tenant or the landlord thereunder, and no event has occurred or   situation exists which would, with the passage of time and the giving of any   required notices, constitute a default under the Lease. (5) 

    

 

(7) All   improvements or work required under the Lease to be made by the landlord have   been completed and such work and the demised premises are accepted as   satisfactory by the tenant, except as follows: . Charges for all labor and   materials used or furnished in connection with improvements and/or   alterations made for the account of the tenant at the demised premises have   been paid in full. (8) That monthly rent in the amount of $ is payable on the   day of each month during the Lease term. No rents have been prepaid more than   one (1) month in advance and full rental, including minimum base rent, has   commenced to accrue and has been paid through the date of . (9) To the best   of Tenant's knowledge, that on this date there are no existing defenses,   offsets, claims or credits which the tenant has against the enforcement of   the Lease by the landlord, provided that nothing herein shall be deemed to be   a waiver of any defense, offset, claims or credits which Tenant has under   this Lease and which are discovered subsequent to the date hereof. (10) The   tenant has paid to the landlord a security deposit in the amount of $ • (11) The   tenant has no right of first refusal or other right or option to purchase all   or any part of the Property. (12) That as of the date hereof, there are no   actions, whether voluntary or otherwise, and, to the best of Tenant's   knowledge, pending, against the tenant under the bankruptcy or insolvency   laws of the United States or any state thereof. (13) That it understands that   Lender will make a mortgage loan to landlord (or its successor and/or assign   with respect to the landlord's interest in the Lease) in reliance upon, among   other things, this certificate. EXECUTED this day of , 2016. TENANT: [Print   or Type Name of Tenant] By: Name: Title: ATTEST/WITNESS: 

    

 

 

SCHEDULE H   COMMENCEMENT DATE AGREEMENT Date: Tenant: TENANT A Re: Commencement Letter   with respect to that certain Lease dated as of , between 201 South Street   Owner LLC, a Delaware limited liability company, as Landlord, and , a , as   Tenant, for X,XXX rentable square feet on the floor of the Building located   at 201-207 South Street, Boston, Massachusetts. In accordance with the terms   and conditions of the above referenced lease, Tenant accepts possession of   the Premises and agrees: 1. The Commencement Date of the Lease is: 2. The   Rent Commencement Date is: 3. The Termination Date of the Lease is: Please   acknowledge your acceptance of possession and agreement to the terms set   forth above by signing this Commencement Letter in the space provided. Sincerely,   Property Manager Lincoln Property Company - 201 South Street Owner LLC Tenant:   TENANT A Agreed and Accepted:. Name; Title: Date: 

    

 

SCHEDULE I FORM   OF SNDA LEASE SUBORDINATION, ATTORNMENT AND NON-DISTURBANCE AGREEMENT This   Agreement is made this day of __, 2016, by and among 201 SOUTH STREET OWNER   LLC, a Delaware limited liability company with an address c/o CiearRock   Properties, 1221 Avenue of the Americas, 20"1 Floor, New York, New York   10020 ("Landlord" or "Borrower"). , with an address of ("Tenant").   and EASTERN BANK, a Massachusetts state-chartered bank with a place of   business at 265 Franklin Street, Boston, Massachusetts 02110   ("Mortgagee"'). Introductory Provisions A. Mortgagee is relying on   this Agreement as an inducement to Mortgagee in making and maintaining a loan   ("Loan") secured by, among other things, a Mortgage and Security   Agreement dated as of , 2016 (the "Mortgage") given by Borrower covering   property commonly known as and numbered 201-207 South Street in Boston, Suffolk   County, Massachusetts (the "Property"). B. Tenant is the holder of   and tenant under that certain lease (the "Lease") dated , 20 , made   with [Landlord] [Landlord's predecessor in interest] covering certain   premises (the "Demised Premises") at the Property as more   particularly described in the Lease. C. Mortgagee requires, as a condition to   the making and maintaining of the Loan, that the Mortgage be and remain   superior to the Lease. D. Tenant requires, as a condition to the Lease being   subordinate to the Mortgage, that its rights under the Lease be recognized. E.   Mortgagee, Landlord and Tenant desire to confirm their understanding with respect   to the Mortgage and the Lease. 

    

 

NOW, THEREFORE,   in consideration of the foregoing, the mutual covenants and agreements   contained herein, and other valuable consideration, the receipt and adequacy   of which are hereby acknowledged, and with the understanding by Tenant that   Mortgagee will rely hereon in making and maintaining the Loan, Mortgagee, Landlord   and Tenant agree as follows: 1. The Lease and the rights of Tenant thereunder   are subordinate and inferior to the Mortgage and any renewal, substitution,   extension or replacement thereof and each advance made thereunder as though   said Mortgage, and each such renewal, substitution, extension or replacement   were executed, recorded and the advance made before the execution of the   Lease. Without limiting the foregoing and notwithstanding any other term or   provision of this Agreement, Tenant's rights with respect to proceeds of   insurance and of eminent domain awards are expressly made subject and   subordinate to the rights of Mortgagee, and the disposition of such proceeds   shall be governed by the Mortgage, and the other "Loan Documents"   referred to therein, in all respects. 2. So long as Tenant is not in default   (beyond any period expressed in the Lease within which Tenant may cure such   default) in the payment of rent or in the performance or observance of any of   the terms, covenants or conditions of the Lease on Tenant's part to be   performed or observed, (i) Tenant's occupancy of the Demised Premises shall   not be disturbed by Mortgagee in the exercise of any of its rights under the   Mortgage during the term of the Lease or any extension or renewal thereof,   made in accordance with the terms of the Lease, and (ii) Mortgagee will not   join Tenant as a party defendant in any action or proceeding for the purpose   of terminating Tenant's interest and estate under the Lease because of any   default under the Mortgage. 3. In the event any proceedings are brought for   the foreclosure of the Mortgage, or if the Property or the Demised Premises   are sold pursuant to the power of sale under the Mortgage, Tenant shall   attorn to the purchaser upon any such foreclosure sale and shall recognize   such purchaser thereafter as the Landlord under the Lease. Such attornment   shall be effective and self-operative without the execution of any further   instrument on the part of any of the parties hereto. Tenant agrees, however,   to execute and deliver at any time and from time to time, upon the request of   any holder(s) of any of the indebtedness or other obligations secured by the   Mortgage, or upon request of any such purchaser, (a) any instrument or   certificate which, in the reasonable judgment of such holder(s), or such   purchaser, may be necessary or appropriate in any such foreclosure proceeding   or otherwise to evidence such attornment, and (b) an instrument or   certificate regarding the status of the Lease, consisting of statements, if   true (and if not true, specifying in what respect), (i) that the Lease is in   full force and effect, (ii) the date through which rentals have been paid,   (iii) the duration and date of the commencement of the term of the Lease,   (iv) the nature of any amendments or modifications to the Lease, (v) that no   default, or state of facts, which with the passage of time, or notice, or   both, would constitute a default, exists on the part ofeither party to the   Lease, and (vi) the dates on which payments of additional rent, if any, are   due under the Lease. 4. If Mortgagee shall succeed to the interest of   Landlord under the Lease in any manner, or if any purchaser acquires the   Property, or the Demised Premises, upon any foreclosure of the 55873238 v I   066426/0169400 

    

 

Mortgage,   Mortgagee or such purchaser, as the case may be, shall have the same remedies   by entry, action or otherwise in the event of any default by Tenant (beyond   any period expressed in the Lease within which Tenant may cure such default)   in the payment of rent or in the performance or observance of any of the   terms, covenants and conditions of the Lease on Tenant's part to be performed   or observed that the Landlord had or would have had if Mortgagee or such   purchaser had not succeeded to the interest of the present Landlord. From and   after any such attornment, Mortgagee or such purchaser shall be bound to   Tenant under all the terms, covenants and conditions of the Lease, and Tenant   shall, from and after such attornment to Mortgagee, or such purchaser, have   the same remedies against Mortgagee, or such purchaser, for the breach of an   agreement contained in the Lease that Tenant might have had under the Lease   against Landlord if Mortgagee or such purchaser had not succeeded to the   interest of Landlord; provided, however, that Mortgagee or such purchaser   shall only be bound during the period of its ownership, all Tenant claims   shall be satisfied only out of the interest, if any, of Mortgagee or such   purchaser in the Property, and Mortgagee and such purchaser shall not be (a)   liable for any act or omission of any prior landlord (including the   Landlord); or (b) liable for or incur any obligation with respect to the   construction of the Property or any improvements therein; or (c) subject to any   offsets or defenses which Tenant might have against any prior landlord   (including the Landlord); or (d) bound by any rent or additional rent which   Tenant might have paid for more than the then current rental period to any   prior landlord (including the Landlord); or (e) bound by any amendment or   modification of the Lease made without its prior written consent; or (f)   bound by or responsible for any security deposit or prepaid rent not actually   received by Mortgagee; or (g) liable for or incur any obligation with respect   to any breach of warranties of any nature under the Lease or otherwise   including without limitation any warranties respecting use, compliance with   zoning, landlord's title, landlord's authority, habitability and/or fitness   for any purpose, or possession; or (h) liable for consequential damages. 5. Nothing   herein contained is intended, nor shall it be construed, to abridge or   adversely affect any right or remedy of the Landlord under the Lease, or any   subsequent Landlord, in the event of any default by Tenant (beyond any period   expressed in the Lease within which Tenant may cure such default) in the   payment of rent or in the performance or observance of any of the terms,   covenants or conditions of the Lease on Tenant's part to be performed or observed.   6. Tenant agrees to provide Mortgagee with a copy of each notice of default   given to Landlord under the Lease, at the same time as such notice of default   is given to the Landlord, and that in the event of any default by the   Landlord under the Lease, Tenant will take no action to terminate the Lease   (a) if the default is not curable by Mortgagee (so long as the default does   not interfere with Tenant's use and occupation of the Demised Premises), or   (b) if the default is curable by Mortgagee, unless the default remains   uncured for a period of thirty (30) days after written notice thereof shall   have been mailed, postage prepaid, to Landlord at Landlord's address, and to   Mortgagee at its address stated in (or pursuant to) Section 7 below;   provided, however. that if any such default is such that it reasonably cannot   be cured within said thirty-day period, such period shall be extended for   such additional period of time as shall be reasonably necessary (including,   without limitation, a reasonable period of time to obtain possession of the   Property and to foreclose the Mortgage), if Mortgagee gives Tenant written   notice of Mortgagee's election to undertake the cure of the default and if   curative action (including, without limitation, action to 5. 

    

 

obtain   possession and foreclose) is instituted within a reasonable period of time   and is thereafter diligently pursued. Mortgagee shall have no obligation to   cure any default under the Lease. 7. Any notice or communication required or permitted   hereunder shall be in writing, and shall be given or delivered by United   States mail, registered or certified, postage fully prepaid, return receipt   requested, or by recognized courier service addressed to the party to whom it   is being given at its address set forth above, or such other address as such   party may have specified theretofore by notice delivered in accordance with   this sentence. Any such notice shall be deemed to have been given and   received on the date delivered or tendered for delivery during normal   business hours as herein provided. 8. Tenant acknowledges that it has notice   that the Lease and the rent and all sums due thereunder have been assigned to   Mortgagee as part of the security for the obligations of Borrower to   Mortgagee secured by the Mortgage. In the event the Mortgagee notifies Tenant   of an Event of Default under the Loan and demands that Tenant pay its rent   and all other sums due under the Lease to Mortgagee, Tenant agrees that it   will honor such demand and pay its rent and all other sums due under the   Lease to the Mortgagee or Mortgagee's designated agent. Borrower   unconditionally authorizes and directs Tenant to make rental payments   directly to Mortgagee following receipt of such notice and further agrees   that Tenant may rely upon such notice without any obligation to further   inquire as to whether or not any default exists under the Mortgage, and that   Borrower shall have no right or claim against Tenant for or by reason of any   payments of rent or other charges made by Tenant to Mortgagee following   receipt of such notice. 9. With respect to any options for additional space   provided to Tenant under the Lease, Mortgagee agrees to recognize the same if   Tenant is entitled thereto under the Lease after the date on which Mortgagee   succeeds as Landlord under the Lease by virtue of foreclosure or deed in lieu   of foreclosure or Mortgagee takes possession of the Demised Premises;   provided. however. Mortgagee shall not be responsible for any acts of any   prior landlord under the lease, or the act of any tenant, subtenant or other   party which prevents Mortgagee from complying with the provisions hereof and   Tenant shall have no right to cancel the Lease or to make any claims against   Mortgagee on account thereof. 10. This Agreement may not be modified orally   or in any manner than by an agreement in writing signed by the parties hereto   or their respective successors in interest. This Agreement shall inure to the   benefit of and be binding upon the parties hereto, their respective heirs,   personal representatives, successors and assigns, and any purchaser or   purchasers at foreclosure of the Property or any portion thereof, and their   respective heirs, personal representatives, successors and assigns. This   Agreement shall be governed and construed in accordance with the laws of the   Commonwealth of Massachusetts. 11. This Agreement may be executed in multiple   counterparts each of which when executed and delivered is an original, but   all of which together shall constitute one instrument. 7. 

    

 

IN WITNESS   WHEREOF, the parties hereto have caused this Agreement to be duly executed,   under seal, as of the date first above written. MORTGAGEE: EASTERN BANK By: Name:   Richard A. Donald Title: Senior Vice President TENANT: By:_ Name: Title: COMMONWEALTH   OF MASSACHUSETTS County of Suffolk On this day of , 2016, before me, the   undersigned notary public, personally appeared Richard A. Donald, as Senior   Vice President of EASTERN BANK, proved to me through satisfactory evidence of   identification, which was to be the person whose name is signed on the   preceding or attached document, and acknowledged to me that he signed it   voluntarily for its stated purpose. Notary Public (Affix Seal] My commission   expires: 

    

 

COMMONWEALTH OF   MASSACHUSETTS County of On this day of , 2016, before me, the undersigned   notary public, personally appeared , as of , proved to me through   satisfactory evidence of identification, which was , to be the person whose   name is signed on the preceding or attached document, and acknowledged to me   that he signed it voluntarily for its stated purpose. Notary Public [Affix   Seal] My commission expires:

    

 

Borrower, as   "Landlord" under the Lease and "Mortgagor" under the   Mortgage, agrees for itself and its successors and assigns that: 1. The above   Agreement does not: (a) constitute a waiver by Mortgagee of any of its rights   under the Mortgage or any of the other Loan documents; or (b) in any way   release Borrower from its obligations to comply with the terms, provisions,   conditions, covenants and agreements and clauses of the Mortgage and other   Loan documents; 2. The provisions of the Mortgage remain in full force and   effect and must be complied with by Borrower; and 3. Borrower shall be bound   by all of the terms, conditions and provisions of the foregoing Agreement   applicable to Borrower including, without limitation, the provisions of   Section 8. BORROWER/LANDLORD: 201 SOUTH STREET OWNER LLC, a Delaware limited   liability company By: Name: Title: COMMONWEALTH OF MASSACHUSETTS County of On   this day of , 2016, before me, the undersigned notary public, personally   appeared as of 201 SOUTH STREET OWNER LLC, proved to me through satisfactory   evidence of identification, which was _ , to be the person whose name is   signed on the preceding or attached document, and acknowledged to me that he   signed it voluntarily for its stated purpose. Notary Public [Affix Seal] My   commission expires:

    

 

FIRST AMENDMENT   TO LEASE This First Amendment to Lease ("Amendment") made as of   i"L(2*~ , 2017 by and between 201 SOUTH STREET OWNER LLC, a Delaware   limited liability company having an office c/o ClearRock Properties, LLC,   1221 Avenue of the Americas, 20,h Floor, New York, NY 10020 ("Landlord")   and CARBON BLACK, INC., a Delaware corporation having a place of business and   mailing address at 1100 Winter Street, Waltham, MA 02451   ("Tenant"). WITNESSETH: WHEREAS, Landlord is the owner of certain   land and improvements located in the City of Boston and commonly known as   201-207 South Street, Boston, Massachusetts (the "Building"); and WHEREAS,   Landlord and Tenant entered into a certain Lease dated March 1, 2017 (the   "Lease"), with respect to approximately 7,270 rentable square feet   of space on the 3 rd floor of the Building (the "Existing   Premises") for a term that is currently scheduled to expire on September   30,2021; and WHEREAS, Landlord and Tenant have agreed to amend the Lease to   add, to the Premises, approximately 7,270 rentable square feet of space on   the 4th floor of the Building, which space (the "Expansion   Premises") is shown on Exhibit A attached hereto, in accordance with the   terms and conditions set forth herein. NOW, THEREFORE, in consideration of   the mutual covenants contained herein, receipt and sufficiency of which is   hereby acknowledged, Landlord and Tenant hereby agree as follows: 1. Capitalized   Terms; Recitals. All capitalized terms used and not otherwise defined herein   shall have the respective meanings ascribed to them in the Lease. In the event   of any inconsistencies between the Lease and this Amendment, the provisions   of this Amendment shall control, and all other provisions of the Lease shall   remain in full force and effect. The above recitals are hereby incorporated   into this Amendment. 2. Lease of Expansion Premises. Landlord hereby leases   the Expansion Premises to Tenant, and Tenant hereby leases the Expansion   Premises from Landlord, effective on the date of this Amendment. From and   after the date hereof, the "Premises" shall consist of the Existing   Premises plus the Expansion Premises, containing 14,540 rentable square feet   of space in total. 3. Delivery Condition and Allowance. Landlord shall   deliver to Tenant, and Tenant shall accept, the Expansion Premises in vacant,   broom clean condition with all building systems in good condition, repair and   working order and otherwise in its "as is" condition on the date of   this Amendment. Landlord shall provide Tenant with an C:\Uscrs\mmccarthy\AppDii(a\Local\Microson   Windows INclCachc\ConloH Oullook\XR20N9G6\First Amendment 12.20.17   (clcan).docx 

    

 

allowance in   the amount of up to $145,400.00 to be used by Tenant toward the cost of the   design of the Expansion Premises and the cost of tenant improvements therein.   Such allowance shall be disbursed by Landlord to Tenant on a monthly progress   payment basis, as costs are incurred, based on contractor invoices, within   thirty (30) days after receipt of such invoices together with architect's   certificates for payment, lien waivers and such other items as Landlord shall   reasonably require. Landlord shall not be required to disburse any portion of   the allowance for any work performed or costs incurred later than one (1)   year after the date of this Amendment, or for which a requisition is not received   within thirteen (13) months after the date of this Amendment. Tenant shall   not be entitled to any cash payment, nor any credit against Rent that is due   under the Lease, in the event that the entire allowance is not utilized. 4. Extension   of Term. The Lease is hereby amended to provide that the "Expiration   Date" shall be April 30,2022. 5. Extension of Term. The Extension Option   provided for in Section 3.02 of the Lease shall apply to the Existing   Premises and the Expansion Premises. 6. Base Rent: Tenant's Share. (a) The   date that is the earlier of (i) one (1) month after the date on which Tenant   first commences business in the Expansion Premises, or (ii) April 1, 2018,   shall be referred to herein as the "Expansion Premises Rent Commencement   Date" (b) Tenant shall continue to pay Base Rent and Additional Rent   with respect to the Existing Premises in accordance with the terms of the   Lease through September 30, 2021. From and after October 1, 2021 through the   Expiration Date, Tenant shall pay Base Rent with respect to the Existing   Premises in accordance with the terms of the Lease in die amount of   $359,865.00 per year, payable in monthly installments of $29,988.75 (c) Commencing   on the Expansion Premises Rent Commencement Date, Tenant shall pay Base Rent with   respect to the Expansions Premises as follows in accordance with the terms of   the Lease in the amounts set forth below: (i) Expansion Premises Rent   Commencement Date through the last day of the 12lh full month after the   Expansion Premises Rent Commencement Date: $338,055.00 per year, payable in   monthly installments of $28,171.25. (ii) 13th through 24th full months after   the Expansion Premises Rent Commencement Date: $345,325.00 per year, payable   in monthly installments of $28,777.08. (iii) 25,h through 36,h full months   after the Expansion Premises Rent Commencement Date: $352,595.00 per year,   payable in monthly installments of $29,382.92. CAUscrs^mccarlhyUppDatoVtocalMvlicrosonWmdows'ilNelCachcVConlcnt   Oullook\XR20N9G6\Fiisl Amendment 12.20.17 (clean ).docx 

    

 

(iv) 37,h full   month after the Expansion Premises Rent Commencement Date through the   Expiration Date: $359,865.00 per year, payable in monthly installments   of$29,988.75. 7. Commencing on the Expansion Premises Rent Commencement Date,   (i) the "Base Year for Operating Costs" for the Expansion Premises   shall be the calendar year 2018 and the "Tax Base Year" for the   Expansion Premises shall be July 1, 2017 to June 30, 2018, and (ii) Tenant's   Share with respect to the Expansion Premises shall be 10.53%. 8. Electric   Services. With regard to Section 23.01 of the Lease, separate meters   currently exist in the Expansion Premises and Tenant shall pay for such   electrical usage and consumption within the Expansion Premises directly to   the utility provider. 9. Right of First Offer. The following language is   hereby added as a new paragraph in Article 34: "Provided that this Lease   is in full force and effect and Tenant is not in default hereunder, Tenant   shall have a one-time right of first offer on any space on the 4th floor of   the Building in accordance with this paragraph. Prior to leasing any space on   the 4th floor of the Building ("4,h Floor ROFO Space"), Landlord   shall notify Tenant in writing, which notice (a "4,h Floor ROFO   Notice") shall contain all of the material conditions under which   Landlord is prepared to lease the 4th Floor ROFO Space to Tenant. Tenant   shall have fifteen (15) Business Days from receipt of a 4,h Floor ROFO   Notice, time being of the essence, to advise Landlord, in writing, that it   has elected to lease such 4lh Floor ROFO Space. If Tenant so notifies   Landlord, then Landlord and Tenant shall enter into an amendment of this   Lease that incorporates the 4lh Floor ROFO Space in question into the   Premises, on the terms and conditions set forth in the 4,h Floor ROFO Notice.   If Tenant fails to timely exercise its right of first offer, then it shall   have no further rights under this paragraph as to that 4,h Floor ROFO Space.   If Tenant exercises on a timely basis but thereafter fails to execute and   deliver to Landlord die amendment to this Lease within fifteen (15) days   after receipt from Landlord, then at Landlord's option, Tenant's exercise   shall be void and Tenant shall thereupon have no further rights under this   paragraph with respect to that 4,h Floor ROFO Space." 10. Security   Deposit. Article 31 of the Lease is hereby amended as follows: (a) The amount   of the Security Deposit is hereby increased to $167,209.98. Tenant shall   deposit with Landlord $83,604.99 upon execution of this Amendment so that the   full amount of the Security Deposit is posted. (b) The last paragraph of   Article 31 is hereby amended to provide that if the decrease in the amount of   the Security Deposit contemplated therein occurs, the reduced amount of the Security   Deposit shall be $111,473.32. C Uscrs\mmccorthy\AppDala\Locn! Microsoft   Windows INctCache\Conlcnl Oullook\XR20N9G6\First Amendment 12.20.17   (clean).docx 

    

 

11. Binding   Effect. This Amendment shall bind and inure to the benefit of the parties   hereto and their respective heirs, executors, administrators, legal   representatives, successors and assigns. 12. Counterparts. This Amendment may   be executed in a number of identical counterparts, each of which for all   purposes shall be deemed to be an original, and all of which shall   collectively constitute but one agreement, fully binding upon, and   enforceable against the parties hereto. 13. Brokers. Landlord and Tenant   hereby represent and warrant to each other that neither has dealt with any   broker in connection with this Amendment other than Jones Lang LaSalle and T3   Advisors (whose commissions shall be paid by Landlord pursuant to a separate   agreement), and that insofar as Landlord and Tenant knows, no other broker   negotiated this Amendment or is entitled to any commission in connection   herewith. Each party agrees to indemnify and hold the other party and any   mortgagee holding an interest in the Building, and their respective agents   and employees harmless from any and all claims of any brokers claiming to   have dealt with the indemnifying party in connection with this Amendment. C:\Uscr5\mmccailhy\AppData\Local\M   icrosoft\Windows\INctCnchc\Conlcnt Oullook\XR20N9G6\First Amendment 12.20,17   (clcan).docx 

    

 

IN WITNESS   WHEREOF, the parties have set their hands as of the day and year first above   written. 201 South Street Owner LLC By: Its Carbon Black, Inc. Bv: VkjL PJL/ its   CV^o Please conform Signature as /s/

    

 

 

IN WITNESS   WHEREOF, the parties have set their hands as of the day and year first above   written. 201 South Street Owner LLC Carbon Black, Inc. By: _ Its C:   \Uscrslrgn_p I am bli\ppData\Local\M icrosonlWindows\Temporary i1llernct F i   Jes\Con tent.Outlook\S09C200 XIF i rst Amendment 12.20.17 (SG Signaturc).docx

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