Document:

Office Lease

 Exhibit 10.4 
 OFFICE LEASE 
 Between 
 WELLS VAF – 6000 NATHAN LANE, LLC, 
 a Delaware limited liability company, 
 and 
 BROCADE COMMUNICATIONS SYSTEMS, INC., 
 a DELAWARE CORPORATION 
 6000 NATHAN LANE, PLYMOUTH, MINNESOTA 

 TABLE OF CONTENTS 
  

			
	 	  	Page No.
		
	 ARTICLE 1 Premises and Term
	  	1
	 ARTICLE 2 Base Rent
	  	3
	 ARTICLE 3 Additional Rent
	  	4
	 ARTICLE 4 Use and Rules
	  	8
	 ARTICLE 5 Services and Utilities
	  	9
	 ARTICLE 6 Alterations and Liens
	  	11
	 ARTICLE 7 Repairs
	  	12
	 ARTICLE 8 Casualty Damage
	  	12
	 ARTICLE 9 Insurance, Subrogation, and Waiver of Claims
	  	13
	 ARTICLE 10 Condemnation
	  	15
	 ARTICLE 11 Return of Possession
	  	16
	 ARTICLE 12 Holding Over
	  	16
	 ARTICLE 13 No Waiver
	  	17
	 ARTICLE 14 Attorneys’ Fees and Jury Trial
	  	17
	 ARTICLE 15 Personal Property Taxes, Rent Taxes and Other Taxes
	  	17
	 ARTICLE 16 Subordination, Attornment and Mortgagee Protection
	  	17
	 ARTICLE 17 Estoppel Certificate
	  	18
	 ARTICLE 18 Assignment and Subletting
	  	19
	 ARTICLE 19 Rights Reserved By Landlord
	  	21
	 ARTICLE 20 Landlord’s Remedies
	  	23
	 ARTICLE 21 Landlord’s Right to Cure
	  	25
	 ARTICLE 22 Conveyance by Landlord and Liability
	  	26
	 ARTICLE 23 Indemnification
	  	26
	 ARTICLE 24 Safety and Security Devices, Services and Programs
	  	27
	 ARTICLE 25 Communications and Computer Lines
	  	27
	 ARTICLE 26 Hazardous Materials
	  	29
	 ARTICLE 27 Offer
	  	30
	 ARTICLE 28 Notices
	  	30
	 ARTICLE 29 Real Estate Brokers
	  	31
	 ARTICLE 30 Common Area Improvements
	  	31
	 ARTICLE 31 Exculpatory Provisions
	  	31
	 ARTICLE 32 Mortgagee’s Consent
	  	31
	 ARTICLE 33 Miscellaneous
	  	32
	 ARTICLE 34 Entire Agreement
	  	33
	 ARTICLE 35 Parking
	  	34
	 ARTICLE 36 Right of First Offer
	  	34
	 ARTICLE 37 Termination Option
	  	35
	 ARTICLE 38 Prior Lease
	  	36
	 ARTICLE 39 Roof Rights
	  	36
	 ARTICLE 40 Generator
	  	37
	 ARTICLE 41 Alternative Dispute Mechanism
	  	37
	 ARTICLE 42 UPS; Chilled Water Fan Units and Chiller
	  	38

  

 i 

 RIDER ONE RULES 
  

			
	 EXHIBIT A        
	  	(Floor plan(s) showing Premises cross-hatched)
	 EXHIBIT B        
	  	WORKLETTER AGREEMENT
	 EXHIBIT C        
	  	RENEWAL OPTION
	 EXHIBIT D        
	  	LEGAL DESCRIPTION
	 EXHIBIT E        
	  	COMMENCEMENT DATE CONFIRMATION
	 EXHIBIT F        
	  	EXERCISE FACILITY CONSENT AND WAIVER OF LIABILITY
	 EXHIBIT G        
	  	INTENTIONALLY DELETED
	 EXHIBIT H        
	  	SUBORDINATION NON-DISTURBANCE AND ATTORNMENT AGREEMENT

  

 ii 

 List of Defined Terms 
  

			
	 Additional Rent
	  	8
	 Affiliate
	  	21
	 Alterations
	  	11
	 Approval Criteria
	  	2
	 Arbitration Request
	  	1
	 Architect
	  	1
	 Base Rent
	  	3
	 Building
	  	1
	 Commencement Date
	  	1
	 Completed Application for Payment
	  	4
	 Construction Allowance
	  	4
	 CPA
	  	8
	 Current Market Rate
	  	1
	 Default
	  	23
	 Default Rate
	  	25
	 Dish
	  	36
	 Estimates
	  	1
	 Expiration Date
	  	1
	 Extension Option
	  	1
	 Extension Term
	  	1
	 Fitness Facility
	  	9
	 Force Majeure Delays
	  	32
	 Hazardous Material
	  	29
	 Holder
	  	18
	 Holidays
	  	9
	 Landlord
	  	1
	 Law
	  	33
	 Lease Month
	  	4
	 Lease Year
	  	4
	 Line Problems
	  	28
	 Lines
	  	27
	 Lower Level Premises
	  	1
	 Mortgage
	  	18
	 MSDS
	  	29
	 Offer Notice
	  	34
	 Offer Space
	  	34
	 Operating Expenses
	  	4
	 Permitted Transfer
	  	21
	 Permitted Transferee
	  	21
	 Person
	  	33
	 Premises
	  	1
	 Prime Rate
	  	24
	 Prior Lease
	  	36
	 Property
	  	1
	 Rent
	  	8
	 Rules
	  	9
	 Second Floor Premises
	  	1
	 Space Plans
	  	1
	 Statement
	  	7
	 Subject Space
	  	19

  

 iii 

 List of Defined Terms 
  

			
	 Substantial Completion
	  	3
	 Substantially Completed
	  	3
	 Systems and Equipment
	  	1
	 Tangible Net Worth
	  	21
	 Taxes
	  	4
	 Tenant
	  	1
	 Tenant Work
	  	11
	 Tenant’s Prorata Share
	  	4
	 Term
	  	1
	 Termination Effective Date
	  	35
	 Termination Fee
	  	35
	 Termination Option
	  	35
	 Third Party Offer
	  	35
	 Total Construction Costs
	  	3
	 Transfer Premium
	  	20
	 Transferee
	  	19
	 Transfers
	  	19
	 Work
	  	2
	 Working Drawings
	  	2
	 Workletter
	  	2

  

 iv 

 OFFICE LEASE 
 THIS LEASE made as of the 20th day of October, 2009, between WELLS VAF – 6000 NATHAN LANE, LLC, a Delaware limited liability company
(“Landlord”) BROCADE COMMUNICATIONS SYSTEMS, INC., a Delaware corporation (“Tenant”). 
 WITNESSETH: 
 ARTICLE 1 
 Premises and Term 
 (A)        Premises, Building and Property. Landlord hereby leases to Tenant and Tenant hereby leases from Landlord that certain space known as Suite 200
containing approximately thirty nine thousand eight hundred sixty two (39,862) rentable square feet (“Second Floor Premises”) and approximately four thousand four hundred (4,400) rentable square feet on the lower
level (“Lower Level Premises”) (The Second Floor Premises and the Lower Level Premises are collectively referred to as the “Premises”) described or shown on Exhibit A attached hereto, in the building
commonly known as 6000 Nathan Lane, Plymouth, Minnesota 55442 (the “Building”), subject to the terms of this Lease. The term “Property” shall mean the Building, and any common or public areas or
facilities, easements, corridors, lobbies, sidewalks, loading areas, driveways, landscaped areas, skywalks, parking garages and lots, and any and all other structures or facilities operated or maintained in connection with or for the benefit of the
Building, and all parcels or tracts of land on which all or any portion of the Building or any of the other foregoing items are located, and any fixtures, machinery, equipment, apparatus, Systems and Equipment, furniture and other personal property
located thereon or therein and used in connection therewith owned or leased by Landlord. Possession of areas necessary for utilities, services, safety and operation of the Property, including the Systems and Equipment, fire stairways, perimeter
walls, space between the finished ceiling of the Premises and the slab of the floor or roof of the Building there above, and the use thereof together with the right to install, maintain, operate, repair and replace the Systems and Equipment,
including any of the same in, through, under or above the Premises in locations that will not materially interfere with Tenant’s use of the Premises, are hereby excepted and reserved by Landlord, and not demised to Tenant. “Systems
and Equipment” shall mean any common (shared) plant, machinery, transformers, duct work, cable, wires, and other equipment, facilities, and systems designed to supply heat, ventilation, air conditioning and humidity or any other
services or utilities, or comprising or serving as any component or portion of the electrical, gas, steam, plumbing, sprinkler, communications, alarm, security, or fire/life/safety systems or equipment, or any other mechanical, electrical,
electronic, computer or other systems or equipment serving more than one tenant at the Property. 
 (B)        Commencement Date: The “Commencement Date” shall be May 1, 2010. The “Term” of this Lease shall be eighty seven (87) months,
commencing on the Commencement Date and ending at 5:00 p.m. local time on the last day of the eighty seventh full calendar month (July 31, 2017) following the Commencement Date (“Expiration Date”), subject to adjustment and
earlier termination as provided herein and subject to Tenant’s option to extend in accordance with Exhibit C attached hereto and incorporated herein by reference. 
 (C)        Commencement Date Confirmation. Tenant is currently in occupancy of the Premises and therefore Landlord shall have no
responsibility to Tenant based on any alleged claim of a prior tenant holding over in the space or any other claim of failure to deliver possession. At either party’s request, Landlord and Tenant shall execute a Commencement Date Confirmation
substantially in the form of Exhibit E promptly following the Commencement Date. 
  

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 (D)        Required Tenant
Deliveries. Prior to the Commencement Date, Tenant shall deliver to Landlord: (i) this Lease fully executed by Tenant; (ii) to the extent not already in Landlord’s possession, executed copies of policies of insurance or
certificates thereof as required under Article 11 of this Lease; (iii) copies of all governmental permits and authorizations, if any, required in connection with Tenant’s operation of its business within the Premises; and (iv) if
Tenant is an entity, evidence of formation, good standing, and authority as Landlord may reasonably require. Failure to timely deliver any of the foregoing shall not defer the Commencement Date or impair Tenant’s obligation to pay Rent.

 (E)        Acceptance. Tenant has inspected the
Premises, Property, Systems and Equipment and agrees to accept the same “as is” without any agreements, representations, understandings or obligations on the part of Landlord to perform any alterations, repairs or improvements and no
representations respecting the condition of the Premises or the Property have been made to Tenant by or on behalf of Landlord, except as expressly provided herein or in the Workletter attached hereto as Exhibit B
(“Workletter”). 
  

 2 

 ARTICLE 2 
 Base Rent 
 Tenant shall pay
Landlord Base Rent (“Base Rent”) of: 
 Second Floor Premises 
  

							
	 Time Period
	  	 Annual
 Amount
	  	 Monthly
 Amount
	  	 Annual Base Rent
Per Square Foot

				
	 Lease Months 1-12
	  	$597,930.00	  	$49,827.50	  	$15.00
				
	 Lease Months 13-24
	  	$615,867.90	  	$51,322.33	  	$15.45
				
	 Lease Months 25-36
	  	$634,204.42	  	$52,850.37	  	$15.91
				
	 Lease Months 37-48
	  	$653,338.18	  	$54,444.85	  	$16.39
				
	 Lease Months 49-60
	  	$672,870.56	  	$56,072.55	  	$16.88
				
	 Lease Months 61-72
	  	$693,200.18	  	$57,766.68	  	$17.39
				
	 Lease Months73 –84
	  	$713,928.42	  	$59,494.04	  	$17.91
				
	 Lease Months 85-87
	  		  	$61,278.86	  	$18.45

 Lower Level Premises 
  

							
	 Time Period
	  	 Annual
 Amount
	  	 Monthly
 Amount
	  	 Annual Base Rent
Per Square Foot

				
	 Lease Months 1-12
	  	$30,800.00	  	$2,566.67	  	$7.00
				
	 Lease Months 13-24
	  	$31,900.00	  	$2,658.33	  	$7.25
				
	 Lease Months 25-36
	  	$33,000.00	  	$2,750.00	  	$7.50
				
	 Lease Months 37-48
	  	$34,100.00	  	$2,841.67	  	$7.75
				
	 Lease Months 49-60
	  	$35,200.00	  	$2,933.33	  	$8.00
				
	 Lease Months 61-72
	  	$36,300.00	  	$3,025.00	  	$8.25
				
	 Lease Months73-84
	  	$37,400.00	  	$3,116.67	  	$8.50
				
	 Lease Months 85-87
	  		  	$3,208.33	  	$8.75

 in advance on or before the first day of each calendar month during the Term. If the
Term commences on a day other than the first day of a calendar month, or ends on a day other than the last day of a calendar

  

 3 

 
month, then the Base Rent for such month shall be prorated on the basis of the number of days in that month. Rent shall be paid without any prior demand or notice therefor and without any
deduction, set-off or counterclaim, or relief from any valuation or appraisement laws. Landlord may apply payments received from Tenant to any obligations of Tenant then accrued, without regard to such obligations as may be designated by Tenant. As
used herein, the term “Lease Month” shall mean each calendar month during the Term (and if the Commencement Date does not occur on the first day of a calendar month, the period from the Commencement Date to the first day of
the next calendar month shall be included in the first Lease Month for purposes of determining the duration of the Term and the monthly Base Rent rate applicable for such partial month) and the term “Lease Year” shall mean
each consecutive period of twelve (12) Lease Months. 
 ARTICLE 3 
 Additional Rent 
 (A)         Taxes. Tenant shall pay Landlord Tenant’s Prorata Share of Taxes. “Taxes” shall mean all federal, state, county, or
local taxes, fees, charges or other impositions of every kind and nature, whether general, special, ordinary or extraordinary (including without limitation, real estate taxes, general and special assessments, transit taxes, water and sewer rents,
rent taxes, sales taxes, and personal property taxes imposed upon Landlord) payable by Landlord in any calendar year during the Term. However, “Taxes” shall not include: Landlord’s income taxes, franchise taxes, gift taxes, capital
stock taxes, inheritance and succession taxes, and estate taxes; provided that if an income or excise tax is levied by any governmental entity in lieu of or as a substitute for ad valorem real estate taxes (in whole or in part), then any such tax or
excise shall constitute and be included within the term “Taxes.” Taxes shall include the costs of consultants retained in an effort to lower taxes and all costs incurred in disputing any taxes or in seeking to lower the tax valuation of
the Property. Tenant waives all rights to protest or appeal the appraised value of the Premises and the Property; however, Landlord agrees that it will make reasonable efforts to protest taxes and assessed value, if requested to do so by Tenant and
a reasonable basis exists to do so. If Taxes for any period during the Term or any extension thereof, shall be increased after payment thereof by Landlord for any reason, Tenant shall pay Landlord, within five (5) days of written notice from
Landlord, Tenant’s Prorata Share of such increased Taxes. Notwithstanding the foregoing, if any Taxes shall be paid based on assessments or bills by a governmental or municipal authority using a fiscal year other than a calendar year, Landlord
may elect to average the assessments or bills for the subject calendar year, based on the number of months of such calendar year included in each such assessment or bill. “Tenant’s Prorata Share” of Taxes and Operating
Expenses shall be the rentable area of the Premises divided by the rentable area of the Property on the last day of the calendar year for which Taxes or Operating Expenses are being determined, excluding any parking facilities. If the Property or
any development of which it is a part, shall contain non-office uses, Landlord shall have the right (but not the obligation) to determine in accordance with sound accounting and management principles, Tenant’s Prorata Share of Taxes and
Operating Expenses for only the office portion of the Property or of such development, in which event, Tenant’s Prorata Share shall be based on the ratio of the rentable area of the Premises to the rentable area of such office portion. Taxes
and Operating Expenses are estimated to be $10.52 per rentable square foot in 2010. Tenant acknowledges that Landlord provided Tenant with a breakdown of estimate Taxes and Operating Expenses prior to the date hereof. 
 (B)         Operating Expenses. Tenant shall pay Landlord Tenant’s
Prorata Share of Operating Expenses. “Operating Expenses” shall mean all expenses of every kind (other than Taxes) which are paid, incurred or accrued for, by or on behalf of Landlord during any calendar year any portion of
which occurs during the Term, in connection with the management, repair, maintenance, restoration and operation of the Property and the complex of which the Property is a part, including without limitation,

  

 4 

 
any amounts paid for: (a) utilities for the Property, including but not limited to electricity, power, gas, steam, chilled water, oil or other fuel, water, sewer, lighting, heating, air
conditioning and ventilating (including, without limitation, taxes on utility usage), (ii) permits, licenses and certificates necessary to operate, manage and lease the Property or for the operation of any transportation to or from the
Property, except to the extent that any such permits, licenses and certificates relate to some but not all tenants of the Property, (c) insurance applicable to the Property, but not limited to the amount of coverage Landlord is required to
provide under this Lease, (d) supplies, tools, equipment and materials used in the operation, repair and maintenance of the Property including, without limitation, costs of the maintenance, operation, and repair of the HVAC systems serving the
Building, exclusive of systems which serve only a particular tenant’s space, (e) accounting, legal, inspection, consulting, concierge, and other services, (f) any equipment rental of any kind (or installment equipment purchase or
equipment financing agreements) for equipment necessary for and used exclusively in connection with the maintenance and operation of the Property, (g) management fees of not more than two percent (2%) of the gross revenues of the Building,
amounts payable under management agreements, and the fair rental value of any office space provided for a management office, (h) wages, salaries and other compensation and benefits (including the fair value of any parking privileges provided)
for all persons engaged in the operation, maintenance or security of, or transportation to or from, the Property, and employer’s Social Security taxes, unemployment taxes or insurance, and any other taxes which may be levied on such wages,
salaries, compensation and benefits, provided that such wages and benefits for persons who do not work full time at the Building shall be prorated based on time spent working on Building matters, (i) payments under any easement, operating
agreement, declaration, restrictive covenant, or instrument pertaining to the sharing of costs in any planned development, (j) operation, repair, and maintenance of all Systems and Equipment and components thereof (including replacement of
components), janitorial service, alarm and security service, window cleaning, trash removal, elevator maintenance, cleaning of walks, parking facilities and Property walls, removal of ice and snow, replacement of wall and floor coverings, ceiling
tiles and fixtures in lobbies, corridors, restrooms and other common or public areas or facilities, maintenance and replacement of shrubs, trees, grass, sod and other landscaped items, irrigation systems, drainage facilities, fences, curbs, and
walkways, re-paving and re-striping parking facilities, and roof repairs; (k) all expenses incurred and costs associated with the operation and maintenance of building amenities including, without limitation, the cost of repair or replacement
of kitchen equipment and restaurant furniture in any cafeteria or deli at the Property and the cost to maintain any cafeteria or deli at the Property, any exercise equipment in any fitness center at the Property and the cost to maintain any fitness
center, the cost of providing utilities, cleaning and other services to such building amenities, and third party costs incurred in connection with the operation and maintenance of any building amenities; (l) any carbon tax, carbon credit, or
other so-called carbon offset cost payable by Landlord with respect to Building operations, whether pursuant to a cap and trade carbon emission system or otherwise; and (m) subject to Article 6, costs incurred by Landlord in connection with any
environmental initiative and/or operations & maintenance plan implemented by Landlord at the Property whether or not such initiatives are mandated by law including, without limitation, costs to: install water efficient irrigation, plumbing
and fixtures; reduce heat islands; control stormwater; reduce chemical emissions; manage refrigerants; optimize energy performance and increase efficiencies; store and collect recyclables; promote usage of recycled content; and implement sustainable
purchasing and waste management policies. Notwithstanding the foregoing, Operating Expenses shall not include: 
 (i)         depreciation, interest and amortization on Mortgages, and other debt costs or ground lease payments, if any; legal fees in connection with leasing,
tenant disputes or enforcement of leases; real estate brokers’ leasing commissions; improvements or alterations to tenant spaces; the cost of providing any service directly to and paid directly by, any tenant; any costs expressly excluded from
Operating Expenses elsewhere in this Lease; costs of any items to the extent Landlord receives reimbursement from insurance proceeds or from a third party (such proceeds to be deducted from Operating Expenses in the year in which received); and

  

 5 

 (ii)         any
costs which would normally be capitalized rather than expensed under generally accepted accounting principles (including, without limitation, drainage and landscaping improvements that are considered capital improvements under GAAP), except those:
(a) made primarily to reduce Operating Expenses, or to comply with any Laws or other governmental requirements, or (b) for replacements (as opposed to additions or new improvements) of non-structural items located in the common areas of
the Property required to keep such areas in good condition; provided, all such permitted capital expenditures (together with reasonable financing charges) shall be amortized for purposes of this Lease over the shorter of: (i) their useful lives
or (ii) the period during which the reasonably estimated savings in Operating Expenses equals the expenditures. 
 (iii)         leasehold improvements; financing and refinancing costs, including interest on debts of any mortgages and rental fees under any ground or underlying
leases; business or income taxes; depreciation and amortization expense; utility costs paid by Tenant or any other lessee of the Building directly to a utility company; repairs to the Building following casualty loss; leasing commissions and costs
of leasing incurred by Landlord; and rebuilding costs following condemnation. 
 (iv)         costs and expenses of correcting defects in or inadequacies of the design or construction of the Building; costs incurred for marketing or promotional activities; all travel,
entertainment and related expenses incurred by Landlord or its agents; costs or expenses incurred as a result of the negligent or intentional acts of other lessees of the Building; 
 (v)         repairs, restoration or other work occasioned by fire,
windstorm or other insured casualty; Landlord’s insurance deductible; expenses incurred in leasing or procuring tenants; leasing commissions; advertising expenses; expenses for renovating space for Landlord or new tenants; cost of the Work;
payments made to affiliates of Landlord including inside or related contractors and executives (but only to the extent the amount paid exceeds market rate for the services provided); legal expenses incident to enforcement by Landlord of the terms of
any lease, interest or principal payments on any mortgage or other indebtedness of Landlord; depreciation allowances or expenses, costs associated with the removal and clean-up of asbestos, hazardous substances and/or toxic substances (as defined in
applicable federal, state or local laws or regulations); depreciation; and costs to cure construction defects to the extent covered under warranty. 
 With respect to any calendar year or partial calendar year in which the Building is not occupied to the extent of 95% of the rentable area thereof, Operating Expenses which vary with occupancy for such
period shall, for the purposes hereof, be increased to the amount which would have been incurred had the Building been occupied to the extent of 95% of the rentable area thereof. If the Property shall be part of or shall include a complex,
development or group of buildings or structures, Landlord may allocate Taxes and Operating Expenses within such complex, development or group, and between such buildings and structures and the parcels on which they are located, in accordance with
sound accounting and management principles. In the alternative, Landlord shall have the right to determine, in accordance with sound accounting and management principles, Tenant’s Prorata Share of Taxes and Operating Expenses based upon the
totals of each of the same for all such buildings and structures, the land constituting parcels on which the same are located, and all related facilities, including common areas and easements, corridors, lobbies, sidewalks, elevators, loading areas,
parking facilities and driveways and other appurtenances and public areas, in which event Tenant’s Prorata Share shall be based on the ratio of the rentable area of the Premises to the rentable area of all such buildings. 
  

 6 

 (C)         Manner of
Payment. Taxes and Operating Expenses shall be paid in the following manner: 
 (i)         Landlord may reasonably estimate in advance the amounts Tenant shall owe for Taxes and Operating Expenses for any full or partial calendar year of the Term. In such event, Tenant shall pay
such estimated amounts, on a monthly basis in installments equal to one-twelfth of the annual estimate, on or before the first day of each calendar month, together with Tenant’s payment of Base Rent. Such estimate may be reasonably adjusted
from time to time by Landlord. 
 (ii)         Within
one hundred twenty (120) days after the end of each calendar year, or as soon thereafter as practicable, Landlord shall provide a statement (the “Statement”) to Tenant showing: (a) the amount of actual Taxes and
Operating Expenses for such calendar year, with a listing of amounts for major categories of Operating Expenses, (b) any amount paid by Tenant towards Taxes and Operating Expenses during such calendar year on an estimated basis, and
(c) any revised estimate of Tenant’s obligations for Taxes and Operating Expenses for the current calendar year. 
 (iii)         If the Statement shows that Tenant’s estimated payments were less than Tenant’s actual obligations for Taxes and Operating Expenses for such
year, Tenant shall pay the difference. If the Statement shows an increase in Tenant’s estimated payments for the current calendar year, Tenant shall pay the difference between the new and former estimates, for the period from January 1 of
the current calendar year through the month in which the Statement is sent. Tenant shall make such payments within thirty (30) days after Landlord sends the Statement. 
 (iv)         If the Statement shows that Tenant’s estimated
payments exceeded Tenant’s actual obligations for Taxes and Operating Expenses, Tenant shall receive a credit for the difference against payments of Rent next due. If the Term shall have expired and no further Rent shall be due, Tenant shall
receive a refund of such difference, within thirty (30) days after Landlord sends the Statement. 
 (v)         So long as Tenant’s obligations hereunder are not materially adversely affected thereby, Landlord reserves the right to reasonably change, from time to time, the manner or timing of
the foregoing payments upon reasonable advance notice from Landlord to Tenant. In lieu of providing one Statement covering Taxes and Operating Expenses, Landlord may provide separate statements, at the same or different times. No delay by Landlord
in providing the Statement (or separate statements) shall be deemed a default by Landlord or a waiver of Landlord’s right to require payment of Tenant’s obligations for actual or estimated Taxes or Operating Expenses. 
 (D)        Proration. If the Term commences other than on January 1, or
ends other than on December 31, Tenant’s obligations to pay estimated and actual amounts towards Taxes and Operating Expenses for such first or final calendar years shall be prorated to reflect the portion of such years included in the
Term. Such proration shall be made by multiplying the total estimated or actual (as the case may be) Taxes and Operating Expenses, for such calendar years, by a fraction, the numerator of which shall be the number of days of the Term during such
calendar year, and the denominator of which shall be three hundred and sixty-five (365). 
 (E)        Landlord’s Records. Landlord shall maintain separate and complete records (including but not limited to books of account and all vouchers, invoices, statements, payroll records
and other papers evidencing Taxes and Operating Expenses) respecting Taxes and Operating Expenses for at least

  

 7 

 
twenty four (24) months after the close of each calendar year and determine the same in accordance with sound accounting and management practices, consistently applied. Taxes and Operating
Expenses shall be calculated on a full accrual basis. Landlord reserves the right to change to a cash system of accounting and, in such event, Landlord shall make reasonable and appropriate accrual adjustments to ensure that each calendar year
includes substantially the same recurring items. Tenant and its authorized representatives (including accountants and attorneys) shall have the right to examine such records upon reasonable prior notice specifying the records Tenant desires to
examine, during normal business hours at the place or places where such records are normally kept by sending such notice no later than ninety (90) days following the furnishing of the Statement. Tenant may take exception to matters included in
Taxes or Operating Expenses, or Landlord’s computation of Tenant’s Prorata Share of either, by sending notice specifying such exception and the reasons therefor to Landlord no later than thirty (30) days after Landlord makes such
records available for examination. Such Statement shall be considered final, except as to matters to which exception is taken after examination of Landlord’s records in the foregoing manner and within the foregoing times. Tenant acknowledges
that Landlord’s ability to budget and incur expenses depends on the finality of such Statement. If Tenant takes exception to any matter contained in the Statement as provided herein, Landlord and Tenant, subject to the provisions of the next
sentence, shall refer the matter to an independent certified public accountant (“CPA”), whose certification as to the proper amount shall be final and conclusive as between Landlord and Tenant. Landlord shall allow Tenant a
credit against Rent next due for the amount of any overpayment and Tenant shall pay Landlord, within five (5) business days, the amount of any underpayment and, unless such CPA’s certification determines that Tenant was overbilled by more
than five percent (5%), Tenant shall promptly pay the cost of such CPA, otherwise such cost will be paid by Landlord. The CPA’s compensation shall not be determined or paid on a contingency, percentage, bonus or similar basis. If Landlord has
already retained, in response to another tenant’s exceptions, a CPA to certify one or more of the matters to which Tenant has taken exception, then, upon Landlord’s receipt of such CPA’s certification, Landlord shall provide a copy of
the relevant portions thereof to Tenant and, based upon such certification, Landlord shall recalculate, to the extent applicable and for the period of time in question, the amount of those particular matters included in Tenant’s Share of Taxes
or Operating Expenses to which Tenant took exception. Pending resolution of any such exceptions in the foregoing manner, Tenant shall continue paying Tenant’s Prorata Share of Taxes and Operating Expenses in the amounts determined by Landlord,
subject to adjustment after any such exceptions are so resolved. 
 (F)         Rent and Other Charges. “Additional Rent” means Tenant’s Prorata Share of Taxes and Tenant’s Prorata Share of Operating Expenses. Base Rent,
Additional Rent and any other amounts which Tenant is or becomes obligated to pay Landlord under this Lease or other agreement entered in connection herewith, are sometimes herein referred to collectively as “Rent,” and all
remedies applicable to the non-payment of Rent shall be applicable thereto. Rent shall be paid at any office maintained by Landlord or its agent at the Property or at such other place as Landlord may designate. 
 ARTICLE 4 
 Use and Rules 
 Tenant shall use the Premises for general office use, training purposes,
customer support, and accounting, computer room and technology lab purposes related to Tenant’s office use, and for any other purpose as approved by Landlord which approval shall not be unreasonably withheld, in compliance with all applicable
Laws and all covenants, conditions and restrictions of record applicable to Tenant’s use or occupancy of the Premises, and without disturbing or interfering with any other tenant or occupant of the Property. Tenant shall not use the
Premises in any manner so as to cause a cancellation of Landlord’s insurance policies or an increase in the premiums thereunder. Tenant shall comply with, and shall cause its permitted subtenants, permitted assignees, invitees, employees,
contractors and agents to comply with,

  

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all rules set forth in Rider One attached hereto (the “Rules”). Landlord shall have the right to reasonably amend such Rules and supplement the same with other reasonable
Rules (not expressly inconsistent with this Lease) relating to the Property, or the promotion of safety, care, cleanliness or good order therein, and all such amendments or new Rules shall be binding upon Tenant after five (5) days notice
thereof to Tenant. All Rules shall be applied on a non-discriminatory basis, but nothing herein shall be construed to give Tenant or any other Person any claim, demand or cause of action against Landlord arising out of the violation of such Rules by
any other tenant, occupant, or visitor of the Property, or out of the enforcement or waiver of the Rules by Landlord in any particular instance. 
 ARTICLE 5 
 Services and Utilities 
 Landlord shall provide the following services and utilities to the Second Floor Premises (the cost of which shall be
included in Operating Expenses unless otherwise stated herein): 
 (A)         Landlord shall repair and replace, at Tenant’s expense, all electric lighting bulbs, tubes, ballasts, and starters within the Premises. Tenant shall be responsible for the payment of
the cost of all modifications to the existing electrical circuit(s) and facilities serving the Premises and, in accordance with Section 5(H) below, the cost of all electricity furnished to the Premises, including electricity used during the
performance of janitor service, the making of alterations or repairs in the Premises, or the operation of any special air conditioning systems which may be required for data processing or computer equipment or other special equipment or machinery
installed by Tenant. 
 (B)         Heat and air-conditioning at such
temperatures and in such amounts as are standard for comparable buildings in the vicinity of the Building from 8:00 a.m. until 6:00 p.m. Monday through Friday and 8:00 a.m. until 1:00 p.m. on Saturday, except on Holidays.
“Holidays” shall mean all federally observed holidays, including New Year’s Day, President’s Day, Memorial Day, Independence Day, Labor Day, Veterans’ Day, Thanksgiving Day, Christmas Day, and all other
holidays observed by members of unions who provide services at the Building. 
 (C)         Water for drinking, lavatory and toilet purposes at those points of supply provided for nonexclusive general use of other tenants at the Property. 
 (D)         Customary office cleaning and trash removal service Monday through
Friday or Sunday through Thursday in and about the Premises, excluding holidays. 
 (E)         Operatorless passenger elevator service in common with Landlord and other tenants and their visitors. One of such elevators may be a “swing” elevator for use also as a freight
elevator. Landlord may restrict use of elevators for freight purposes to the “swing” elevator and to hours reasonably designated by Landlord. Landlord shall have the right to restrict the number of operating elevators outside of normal
business hours, provided that at least one elevator is in operation. 
 (F)         The non exclusive right to use the unstaffed fitness facility within the Building (“Fitness Facility”) during the Fitness Facility’s hours of operation. Use of
the Fitness Facility will be limited to tenants (including any permitted assignees and subtenants) of the Building and their employees on a non exclusive basis. Tenant and its employees shall use the Fitness Facility at their own risk and will
provide any certifications of waiver of liability as Landlord may request from time to time. Without limiting the generality of the foregoing, each user of the Fitness Facility shall be required to execute and deliver a waiver of liability in the
form attached hereto as Exhibit F (or in another similar form provided by and acceptable to Landlord). Landlord shall have the right at any time, in its sole and absolute discretion to

  

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relocate the Fitness Facility within the Building. While Landlord may include the cost to maintain the Fitness Facility in Operating Expenses as set forth in Article 3 above, neither Tenant nor
Tenant’s employees shall be charged a separate usage fee to use the Fitness Facility. 
 (G)         If reasonable and feasible, Landlord shall seek to provide extra utilities or services requested by Tenant provided the request does not involve modifications or additions to existing
Systems and Equipment. Tenant shall pay for extra utilities or services at rates set by Landlord in its reasonable discretion. Payment shall be due at the same time as Base Rent or, if billed separately, shall be due within thirty (30) days
after billing. If Tenant shall fail to make any payment for additional services, Landlord may, without notice to Tenant and in addition to all other remedies available to Landlord, discontinue the additional services. Landlord may install and
operate meters or any other reasonable system for monitoring or estimating any services or utilities used by Tenant in excess of those required to be provided by Landlord under this Article (including a system for Landlord’s engineer to
reasonably estimate any such excess usage). If such system indicates such excess services or utilities, Tenant shall pay Landlord’s reasonable charges for installing and operating such system and any supplementary air-conditioning, ventilation,
heat, electrical or other systems or equipment (or adjustments or modifications to the existing Systems and Equipment), and Landlord’s reasonable charges for such amount of excess services or utilities used by Tenant. Landlord may impose a
reasonable charge for any utilities and services, including, without limitation, air conditioning, electricity, and water, provided by Landlord by reason of: (i) any use of the Premises at any time other than the hours set forth above;
(ii) any utilities or services beyond what Landlord agrees herein to furnish; or (iii) special electrical, cooling and ventilating needs created by Tenant’s telephone equipment, computer, electronic date processing equipment, copying
equipment and other such equipment or uses. Landlord may impose a three hour minimum for extra hours HVAC service. Landlord, at its option, may require installation of metering devices at Tenant’s expense for the purpose of metering
Tenant’s utility consumption. Tenant must notify Landlord by 3:00 p.m. if Tenant will require HVAC after the hours stated above (or 3:00 p.m. on the preceding business day if extra service will be required on a Saturday, Sunday, or Holiday).

 (H)         Electricity used by Tenant in the Premises shall, at
Landlord’s option, be paid by Tenant either (1) through inclusion in Operating Expenses (except as provided in Section 5(G) with respect to excess usage by Tenant); (2) by a separate charge payable by Tenant to Landlord within
thirty (30) days after billing by Landlord; or (3) by a separate charge billed by the applicable utility company and payable directly by Tenant. Electrical service to the Premises may be furnished by one or more companies providing
electrical generation, transmission and distribution services, and the cost of electricity may consist of several different components or separate charges for such services, such as generation, distribution and stranded cost charges. Landlord shall
have the exclusive right (i) to choose the company or companies to provide electrical service to the Property and the Premises, (ii) to aggregate the electrical service for the Property and the Premises with other buildings or properties,
(iii) to purchase electrical service through an agent, broker or buyer’s group, and (iv) to change the electrical service provider or manner of purchasing electrical service from time to time in a economically reasonable manner.
Landlord shall be entitled to receive a reasonable fee (over and above any management fees or other fees) for the services Landlord performs in connection with the selection of utility companies and the administration and negotiation of contracts
for the provision of electrical service. 
 (I)         Landlord shall
use reasonable efforts to restore any service required of it that becomes unavailable; however, such unavailability shall not render Landlord liable for any damages caused thereby, be a constructive eviction of Tenant, constitute a breach of any
implied warranty, or, except as provided in the next sentence, entitle Tenant to any abatement of Tenant’s obligations hereunder. If, however, Tenant is prevented from using the Premises because of the unavailability of any service to be
provided by Landlord hereunder for a period of five (5) consecutive business days following Landlord’s receipt from Tenant of a written notice regarding such unavailability and such unavailability was not

  

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caused by or through Tenant or a governmental directive, then Tenant shall, as its exclusive remedy be entitled to a reasonable abatement of Rent for each consecutive day (after such five
(5) business day period) that Tenant is so prevented from using the Premises. Landlord in no event shall be liable for damages by reason of loss of profits, business interruption or other consequential damages. 
 (J)         Landlord shall provide to the Lower Level Premises lighting and Building
standard HVAC service for the lower level, plus stair and elevator access to the Lower Level Premises. The cost to provide such services shall be included in Operating Expenses. 
 ARTICLE 6 
 Alterations and Liens

 Tenant shall not make any additions, changes, alterations or improvements
(“Alterations”) outside the Premises. Tenant shall not make any Alterations within the Premises (”Tenant Work”) without the prior written approval of Landlord, which shall not be unreasonably withheld;
provided, however, that Tenant shall not be required to obtain Landlord’s approval to decorative alterations to the Premises or other Alterations not requiring a building permit, as long as: (a) the Alterations will not adversely affect
the Building’s systems or structure, (b) the Alterations cost less than $200,000 in any year, (c) Tenant gives Landlord at least ten (10) days prior written notice before commencing the Alterations, and (d) Tenant otherwise
complies with the requirements of this Lease with respect to such Alterations, other than the requirement to obtain Landlord’s approval. Landlord may impose reasonable requirements in connection with Alterations by Tenant including without
limitation the submission of plans and specifications for Landlord’s prior written approval, obtaining necessary permits, posting bonds, obtaining insurance, prior approval of contractors, subcontractors and suppliers, prior receipt of copies
of all contracts and subcontracts, contractor and subcontractor lien waivers, affidavits listing all contractors, subcontractors and suppliers, use of union labor (if Landlord uses union labor), affidavits from engineers acceptable to Landlord
stating that the Tenant Work will not adversely affect the Systems and Equipment or the structure of the Property, and requirements as to the manner and times in which such Tenant Work shall be done. All Tenant Work shall be performed in a good and
workmanlike manner and all materials used shall be of a quality comparable to or better than those in the Premises and Property and shall be in accordance with plans and specifications approved by Landlord, and Landlord may require that all such
Tenant Work for which Tenant is required to obtain Landlord’s approval be performed under Landlord’s supervision. If Landlord supervises, Tenant shall pay a fee of three percent (3%) of the cost of the Alterations to cover
Landlord’s overhead in reviewing Tenant’s plans and specifications and supervising the Tenant Work. Approval or supervision by Landlord shall not be deemed a warranty as to the adequacy of the design, workmanship or quality of materials,
and Landlord hereby expressly disclaims any responsibility or liability for the same. Landlord shall under no circumstances have any obligation to repair, maintain or replace any portion of the Tenant Work. 
 Tenant shall keep the Property and Premises free from any mechanic’s, materialman’s or similar liens or other such
encumbrances in connection with any Tenant Work on or respecting the Premises not performed by or at the request of Landlord, and shall indemnify and hold Landlord harmless from and against any claims, liabilities, judgments, or costs (including
reasonable attorneys’ fees) arising out of the same or in connection therewith. Tenant shall give Landlord notice at least twenty (20) days prior to the commencement of any Tenant Work (or such additional time as may be necessary under
applicable Laws), to afford Landlord the opportunity of posting and recording appropriate notices of non-responsibility. If Tenant fails, within 20 days after the date of the filing of the lien, to discharge such lien or pursuant to Minn. Stat.
§ 514.10 to deposit into court a sum determined by the court, Landlord may, but shall not be required or expected to, remove such lien in such manner as Landlord may, in its sole discretion, determine, and the full cost thereof, together with
all Landlord’s fees and costs, including

  

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attorney fees, shall be due and payable by Tenant to Landlord immediately upon Tenant’s receipt of Landlord’s notice therefor. The amount so paid shall be deemed additional Rent under
this Lease payable upon demand, without limitation as to other remedies available to Landlord under this Lease. Nothing contained in this Lease shall authorize Tenant to do any act which shall subject Landlord’s title to the Property or
Premises to any lien or encumbrance whether claimed by operation of law or express or implied contract. Any claim to a lien or encumbrance upon the Property or Premises arising in connection with any Tenant Work on or respecting the Premises not
performed by or at the request of Landlord shall be null and void, or at Landlord’s option shall attach only against Tenant’s interest in the Premises and shall in all respects be subordinate to Landlord’s title to the Property and
Premises. 
 Construction in the Premises by Tenant shall comply with the Building’s environmental and
energy efficiency initiatives in effect at the time of construction. Such initiatives may include, but shall not be limited to, usage of low VOC construction materials (including, without limitation, low VOC paint and carpet); energy efficient
lighting (and controls), equipment, and appliances; HVAC efficiencies; water use reduction; CFC reduction; recycling; construction waste management; usage of locally manufactured materials; usage of rapidly renewable materials; and usage of recycled
materials. In connection with Tenant’s initial construction of the Premises, Tenant shall cooperate with Landlord’s reasonable requests in order to achieve Energy Star status for the Building, provided however, there shall be no
requirement that Tenant replace, upgrade nor incur any additional cost and expense in connection with Tenant’s existing equipment including but not limited to Tenant’s computer equipment and servers. 
 ARTICLE 7 
 Repairs 
 Except for customary cleaning and trash removal provided by Landlord under
Article 5, damage covered under Article 8, and normal wear and tear, Tenant shall keep the Premises in good condition, working order and repair (including without limitation, carpet, wall-covering, doors, plumbing fixtures and other fixtures,
alterations and improvements within the Premises whether installed by Landlord or Tenant). In the event that any repairs, maintenance or replacements are required, Tenant shall promptly arrange for the same either through (a) Landlord for such
reasonable charges as Landlord may from time to time establish, or (b) contractors that Landlord generally uses at the Property, or (c) other contractors approved in writing in advance by Landlord which approval shall not be unreasonably
withheld. If Tenant does not promptly make such arrangements, Landlord may, but need not, make such repairs, maintenance and replacements, and the costs paid or incurred by Landlord therefor shall be reimbursed by Tenant promptly after request by
Landlord. Except to the extent caused by the negligence or willful misconduct of Landlord, Tenant shall pay or reimburse Landlord for any repairs, maintenance and replacements to areas of the Property outside the Premises, to the extent incurred as
a result of moving any of Tenant’s furniture, fixtures, or other property to or from the Premises, or by Tenant or its employees, agents, contractors, or visitors (notwithstanding anything to the contrary contained in this Lease). Except as
provided in the preceding sentence, or for damage covered under Article 8, Landlord shall keep the Building structure and common areas of the Property and the Systems and Equipment in good condition, working order and repair (the cost of which shall
be included in Operating Expenses). 
 ARTICLE 8 
 Casualty Damage 
 Subject to
Article 6 and the remainder of this Article 8, Landlord shall use available insurance proceeds to restore the Premises or any common areas of the Property providing access thereto which are damaged by fire or other casualty during the Term. Such
restoration shall be to substantially the

  

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condition prior to the casualty, except for modifications required by zoning and building codes and other Laws or by any Holder, any other modifications to the common areas deemed desirable by
Landlord (provided access to the Premises is not materially impaired), and except that Landlord shall not be required to repair or replace any of Tenant’s furniture, furnishings, fixtures or equipment, or any alterations or improvements in
excess of any work performed or paid for by Landlord under the terms, covenants and conditions of any separate agreement therefor signed by the parties hereto. Landlord shall not be liable for any inconvenience or annoyance to Tenant or its
visitors, or injury to Tenant’s business resulting in any way from such damage or the repair thereof. However, Landlord shall allow Tenant a proportionate abatement of Rent during the time and to the extent the Premises are unfit for occupancy
for the purposes permitted under this Lease and not occupied by Tenant as a result thereof (unless Tenant or its employees or agents intentionally caused the damage). Notwithstanding the foregoing, Landlord may terminate this Lease by giving Tenant
written notice of termination within sixty (60) days after the date of damage (such termination notice to include a termination date providing at least ninety (90) days for Tenant to vacate the Premises), if the Property shall be
materially damaged by Tenant or its employees or agents, or if the Property shall be damaged by fire or other casualty such that: (a) repairs to the Premises and access thereto cannot reasonably be completed within two hundred seventy
(270) days after the casualty without the payment of overtime or other premiums, (b) more than twenty-five percent (25%) of the Premises is affected by the damage and fewer than twenty-four (24) months remain in the Term, or any
material damage occurs to the Premises during the last twelve (12) months of the Term, (c) any Holder shall require that the insurance proceeds or any portion thereof be used to retire the Mortgage debt (or shall terminate the ground
lease, as the case may be), or the damage is not fully covered by Landlord’s insurance policies (excluding the deductible), or (d) the cost of the repairs, alterations, restoration or improvement work would exceed twenty-five percent
(25%) of the replacement value of the Property, or (e) the nature of such work would make termination of this Lease necessary or convenient and Landlord also terminates the leases of all other similarly situated tenants. Tenant agrees that
Landlord’s obligation to restore, and the abatement of Rent provided herein, shall be Tenant’s sole recourse in the event of such damage, and waives any other rights Tenant may have under any applicable Law to terminate the Lease by reason
of damage to the Premises or Property. Tenant acknowledges that this Article represents the entire agreement between the parties respecting casualty damage to the Premises or the Property. 
 ARTICLE 9 
 Insurance, Subrogation, and Waiver of
Claims 
 (A)         Tenant shall not conduct or permit to be
conducted any activity, or place or permit to be placed any equipment or other item in or about the Premises, the Building or the Property, which will in any way increase the rate of property insurance or other insurance on the Property. If any
increase in the rate of property or other insurance is due to any activity, equipment or other item of Tenant, then (whether or not Landlord has consented to such activity, equipment or other item) Tenant shall pay as additional rent due hereunder
the amount of such increase. The statement of any applicable insurance company or insurance rating organization (or other organization exercising similar functions in connection with the prevention of fire or the correction of hazardous conditions)
that an increase is due to any such activity, equipment or other item shall be conclusive evidence thereof. 
 (B)         Throughout the Term, Tenant shall obtain and maintain the following insurance coverages written with companies with an A.M. Best A-, X or better rating and S&P rating of at least A-:

 (i)         Commercial General Liability
(“CGL”) insurance (written on an occurrence basis) with limits not less than One Million Dollars ($1,000,000) combined single limit per occurrence, Two Million Dollar ($2,000,000) annual general aggregate (on a per location basis), Two
Million Dollars ($2,000,000) products/completed operations aggregate, One Million Dollars

  

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($1,000,000) personal and advertising injury liability, Fifty Thousand Dollars ($50,000) fire damage legal liability, and Five Thousand Dollars ($5,000) medical payments. CGL insurance shall be
written on ISO occurrence form CG 00 01 96 (or a substitute form providing equivalent or broader coverage) and shall cover liability arising from Premises, operations, independent contractors, products-completed operations, personal injury,
advertising injury and liability assumed under an insured contract. 
 (ii)         Workers Compensation insurance as required by the applicable state law, and Employers Liability insurance with limits 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. 
 (iii)         Commercial Auto Liability insurance (if applicable) on a standard ISO form or similar covering automobiles owned, hired or used by Tenant in carrying
on its business with limits not less than One Million Dollars ($1,000,000) combined single limit for each accident. 
 (iv)         Umbrella/Excess Insurance coverage on a follow form basis in excess of the CGL, Employers Liability and Commercial Auto Policy with limits not less
than Five Million Dollars ($5,000,000) per occurrence and Five Million Dollars ($5,000,000) annual aggregate. 
 (v)         All Risk Property Insurance covering Tenant’s property, furniture, furnishings, fixtures, improvements, and equipment located at the Building. If
Tenant is responsible for any machinery, Tenant shall maintain boiler and machinery insurance. 
 (vi)         Business Interruption and Extra Expenses insurance in amounts typically carried by prudent tenants engaged in similar operations, but in no event in an amount less than double the annual
Base Rent then in effect. Such insurance shall reimburse Tenant for direct and indirect loss of earnings and extra expense attributable to all perils insured against. 
 (vii)         Builder’s Risk (or Building Constructions)
insurance during the course of construction of any Alteration, including during the performance of Tenant’s Work and until completion thereof. Such insurance shall be on a form covering Landlord, Landlord’s architects, Landlord’s
contractor or subcontractors, Tenant and Tenant’s contractors, as their interest may appear, against loss or damage by fire, vandalism, and malicious mischief and other such risks as are customarily covered by the so-called “broad form
extended coverage endorsement” upon all Alterations or Tenant’s Work in place and all materials stored at the Premises, and all materials, equipment, supplies and temporary structures of all kinds incident to Alterations or Tenant’s
Work and builder’s machinery, tools and equipment, all while forming a part of, or on the Premises, or when adjacent thereto, while on drives, sidewalks, streets or alleys, all on a completed value basis for the full insurable value at all
times. Said Builder’s Risk Insurance shall contain an express waiver of any right of subrogation by the insurer against Landlord, its agents, employees and contractors. 
 (C)         Landlord and Landlord’s agents shall be endorsed on each policy as additional insureds as it pertains to the CGL policy and
coverage shall be primary and noncontributory. Landlord shall be a loss payee on the Property policy in respect of Tenant’s improvements to the extent that Landlord is responsible for the repair and replacement of same under this Lease. All
insurance shall (1) contain an endorsement that such policy shall remain in full force and effect notwithstanding that the insured may have waived its right of action against any party prior to the occurrence of a loss (Tenant hereby waiving
its right of action and recovery against and releasing Landlord and Landlord’s Representatives from any and all liabilities, claims and losses for which they may otherwise be liable to the extent Tenant is covered

  

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by insurance carried or required to be carried under this Lease); (2) provide that the insurer thereunder waives all right of recovery by way of subrogation against Landlord and
Landlord’s representatives in connection with any loss or damage covered by such policy (and Tenant shall provide evidence of such waiver); (3) be acceptable in form and content to Landlord; and (4) contain an endorsement prohibiting
cancellation without the insurer first giving Landlord thirty (30) days’ prior written notice of such proposed action. No such policy shall contain any deductible provision except as otherwise approved in writing by Landlord, which
approval shall not be unreasonably withheld. Landlord reserves the right from time to time to reasonably require higher minimum amounts or different types of insurance. Tenant shall deliver an ACORD 25 certificate with respect to all liability and
personal property insurance and an ACORD 28 certificate with respect to all commercial property insurance and receipts evidencing payment therefor (and, upon request, copies of all required insurance policies, including endorsements and
declarations) to Landlord on or before the Commencement Date and at least annually thereafter. If Tenant fails to provide evidence of insurance required to be provided by Tenant hereunder, prior to commencement of the Lease Term and thereafter
within thirty (30) days following Landlord’s request during the Term (and in any event within thirty (30) days prior to the expiration date of any such coverage, any other cure or grace period provided in this Lease not being
applicable hereto), Landlord shall be authorized (but not required) after ten (10) days’ prior notice to procure such coverage in the amount stated with all costs thereof to be chargeable to Tenant and payable as additional rent upon
written invoice therefor. 
 (D)         Landlord agrees to carry and
maintain all-risk property insurance (with replacement cost coverage) covering the Building and Landlord’s property therein in an amount required by its insurance company to avoid the application of any coinsurance provision. Landlord hereby
waives its right of recovery against Tenant and releases Tenant from any and all liabilities, claims and losses for which Tenant may otherwise be liable to the extent Landlord receives proceeds from its property insurance therefor. Landlord shall
secure a waiver of subrogation endorsement from its insurance carrier. Landlord also agrees to carry and maintain commercial general liability insurance in limits it reasonably deems appropriate (but in no event less than the limits required by
Tenant above). Landlord may elect to carry such other additional insurance or higher limits as it reasonably deems appropriate. Tenant acknowledges that Landlord shall not carry insurance on, and shall not be responsible for damage to, Tenant’s
personal property or any Alterations (including Tenant’s Work), and that Landlord shall not carry insurance against, or be responsible for any loss suffered by Tenant due to, interruption of Tenant’s business. 
 ARTICLE 10 
 Condemnation 
 If (a) the whole or any material part of the Premises or the
Property shall be taken by power of eminent domain or condemned by any competent authority for any public or quasi-public use or purpose; (b) any adjacent property or street shall be so taken or condemned, or reconfigured or vacated by such
authority in such manner as to require the use, reconstruction or remodeling of any part of the Premises or the Property, or (c) Landlord shall grant a deed or other instrument in lieu of such taking by eminent domain or condemnation, then
Landlord shall have the option to terminate this Lease upon ninety (90) days notice, provided such notice is given no later than one hundred eighty (180) days after the date of such taking, condemnation, reconfiguration, vacation, deed or
other instrument. Tenant shall have reciprocal termination rights if the whole or any material part of the Premises is permanently taken or if access to the Premises is permanently and materially impaired. Landlord shall be entitled to receive the
entire award or payment in connection therewith, except that Tenant shall have the right to file any separate claim available to Tenant for any taking of Tenant’s personal property and of fixtures belonging to Tenant and removable by Tenant
upon expiration of the Term and for moving and other relocation expenses (so long as such claim does not diminish the award available to Landlord or any Holder, and

  

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such claim is payable separately to Tenant). All Rent shall be apportioned as of the date of such termination, or the date of such taking, whichever shall first occur. Rent shall be
proportionately abated if any part of the Premises shall be taken and this Lease shall not be so terminated. 
 ARTICLE 11

 Return of Possession 
 At the expiration or earlier termination of this Lease or Tenant’s right of possession of the Premises, Tenant shall surrender possession of the Premises in the condition
required under Article 7, ordinary wear and tear excepted, and shall surrender all keys, any key cards, and any parking stickers or cards, to Landlord, and advise Landlord as to the combination of any locks or vaults then remaining in the Premises,
and shall remove all trade fixtures and personal property. All improvements, fixtures and other items in or upon the Premises (except trade fixtures and personal property belonging to Tenant), whether installed by Tenant or Landlord, shall be
Landlord’s property and shall remain upon the Premises, all without compensation, allowance or credit to Tenant. Without limitation of Article 12, if Tenant shall fail to perform any repairs or restoration, or fail to remove any items from the
Premises or the Property required hereunder, following five (5) days written notice from Landlord to Tenant, Landlord may do so, and Tenant shall pay Landlord the cost thereof within thirty (30) days after receipt of an invoice therefor.
Following five (5) days notice to Tenant, any and all property that may be removed from the Premises or the Property by Landlord pursuant to any provisions of this Lease or any Law, to which Tenant is or may be entitled, may be handled, removed
or stored in a commercial warehouse or otherwise by Landlord at Tenant’s risk, cost or expense, and Landlord shall in no event be responsible for the value, preservation or safekeeping thereof. Tenant shall pay to Landlord, within thirty
(30) days after receipt of an invoice therefor, any and all expenses incurred in any removal and all storage charges as long as the same is in Landlord’s possession or under Landlord’s control. Any property, which is not removed from
the Premises or which is not retaken from storage by Tenant within thirty (30) days after expiration or earlier termination of this Lease or of Tenant’s right to possession of the Premises, shall, at Landlord’s option, be conclusively
presumed to have been abandoned and thus to have been conveyed by Tenant to Landlord as if by bill of sale without payment by Landlord. 
 ARTICLE 12 
 Holding Over 
 Unless Landlord expressly agrees otherwise in writing, if Tenant shall retain possession of the Premises or any part thereof after expiration or earlier termination of this Lease,
Tenant shall pay Landlord one hundred fifty percent (150%) of the amount of Rent then applicable on a per month basis without reduction for partial months during the holdover. In addition, if Tenant holds over for more than thirty
(30) days after the expiration or earlier termination of this Lease, Tenant shall be responsible for all consequential damages sustained by Landlord on account of Tenant holding over. The foregoing provisions shall not serve as permission for
Tenant to holdover, nor serve to extend the Term (although Tenant shall remain bound to comply with all provisions of this Lease until Tenant vacates the Premises, and shall be subject to the provisions of Article 11). The provisions of this Article
do not waive Landlord’s right of re-entry or right to regain possession by actions at law or in equity or any other rights hereunder, and any receipt of payment by Landlord shall not be deemed a consent by Landlord to Tenant’s remaining in
possession or be construed as creating or renewing any lease or right of tenancy between Landlord and Tenant. 
  

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 ARTICLE 13 
 No Waiver 
 No provision of
this Lease will be deemed waived by either party unless expressly waived in writing signed by the waiving party. No waiver shall be implied by delay or any other act or omission of either party. No waiver by either party of any provision of this
Lease shall be deemed a waiver of such provision with respect to any subsequent matter relating to such provision, and Landlord’s consent or approval respecting any action by Tenant shall not constitute a waiver of the requirement for obtaining
Landlord’s consent or approval respecting any subsequent action. Acceptance of Rent by Landlord shall not constitute a waiver of any breach by Tenant of any term or provision of this Lease. No acceptance of a lesser amount than the Rent herein
stipulated shall be deemed a waiver of Landlord’s right to receive the full amount due, nor shall any endorsement or statement on any check or payment or any letter accompanying such check or payment be deemed an accord and satisfaction, and
Landlord may accept such check or payment without prejudice to Landlord’s right to recover the full amount due. The acceptance of Rent or of the performance of any other term or provision from any Person other than Tenant, including any
Transferee, shall not constitute a waiver of Landlord’s right to approve any Transfer. 
 ARTICLE 14 
 Attorneys’ Fees and Jury Trial 
 In the event of any litigation between the parties, the prevailing party shall be entitled to obtain, as part of the judgment, all reasonable attorneys’ fees, costs and expenses
incurred in connection with such litigation, except as may be limited by applicable Law. In the interest of obtaining a speedier and less costly hearing of any dispute, the parties hereby each irrevocably waive the right to trial by jury.

 ARTICLE 15 
 Personal Property Taxes, Rent Taxes and Other Taxes 
 Tenant shall pay prior to delinquency all taxes, charges or other governmental impositions assessed against or levied upon Tenant’s fixtures, furnishings, equipment and personal property located in the Premises, and any Tenant Work to
the Premises which is deemed to be personal property by any governmental agency or subdivision thereof. Whenever possible, Tenant shall cause all such items to be assessed and billed separately from the property of Landlord. In the event any such
items shall be assessed and billed with the property of Landlord, Tenant shall pay Landlord its share of such taxes, charges or other governmental impositions within thirty (30) days after Landlord delivers a statement and a copy of the
assessment or other documentation showing the amount of such impositions applicable to Tenant’s property. Tenant shall pay any rent tax or sales tax, service tax, transfer tax or value added tax, or any other applicable tax on Rent or services
provided herein or otherwise respecting this Lease. 
 ARTICLE 16 
 Subordination, Attornment and Mortgagee Protection 
 This Lease is subject and subordinate to all Mortgages now or hereafter placed upon the Property, and all other encumbrances and matters of public record applicable to the Property. If any foreclosure
proceedings are initiated by any Holder or a deed in lieu is granted (or if any ground lease is terminated), Tenant agrees to attorn and pay Rent to any Holder which is a successor to Landlord hereunder or a

  

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purchaser at a foreclosure sale and to execute and deliver any instruments necessary or appropriate to evidence or effectuate such attornment (provided such Holder or purchaser shall agree to
accept this Lease and not disturb Tenant’s occupancy, so long as Tenant does not default and fail to cure within the time permitted hereunder). However, in the event of attornment, no Holder shall be: (i) liable for any act or omission of
Landlord, or subject to any offsets or defenses which Tenant might have against Landlord (prior to such Holder becoming Landlord under such attornment), (ii) liable for or bound by any prepaid Rent not actually received by such Holder,
(iii) bound by any future modification of this Lease not consented to by such Holder, (iv) be liable for any accrued obligation, act or omission of any prior landlord (including, without limitation, Landlord), whether prior to or after
foreclosure or termination of the superior lease, as the case may be, (v) be bound by any covenant to undertake or complete any improvement to the Property or the Premises, or to reimburse or pay Tenant for the cost of any such improvement,
(vi) be required to perform or provide any services not related to possession or quiet enjoyment of the Premises, or (vii) be required to abide by any provisions for the diminution or abatement of rent. “Holder”
shall mean the holder of any Mortgage at the time in question, and where such Mortgage is a ground lease, such term shall refer to the ground lessor. “Mortgage” shall mean all mortgages, deeds of trust, ground leases and
other such encumbrances now or hereafter placed upon the Property or any part thereof and all renewals, modifications, consolidations, replacements or extensions thereof. Any Holder may elect to make this Lease prior to the lien of its Mortgage, by
written notice to Tenant, and if the Holder of any prior Mortgage shall require, this Lease shall be prior to any subordinate Mortgage. Tenant shall execute such documentation as Landlord may reasonably request from time to time, in order to confirm
the matters set forth in this Article in recordable form. In the event of any default on the part of Landlord, arising out of or accruing under the Lease, whereby the validity or the continued existence of the Lease might be impaired or terminated
by Tenant, or Tenant might have a claim for partial or total eviction, Tenant shall not pursue any of its rights with respect to such default or claim, and no notice of termination of the Lease as a result of such default shall be effective, unless
and until Tenant has given written notice of such default or claim to the applicable Holder (but not later than the time that Tenant notifies Landlord of such default or claim) and granted to such Holder a reasonable time, which shall not be less
than the greater of (i) the period of time granted to Landlord under the Lease, or (ii) thirty (30) days, after the giving of such notice by Tenant to such Holder, to cure or to undertake the elimination of the basis for such default
or claim, after the time when Landlord shall have become entitled under the Lease to cure the cause of such default or claim; it being expressly understood that (a) if such default or claim cannot reasonably be cured within such cure period,
such Holder shall have such additional period of time to cure same as it reasonably determines is necessary, so long as it continues to pursue such cure with reasonable diligence, and (b) such Holder’s right to cure any such default or
claim shall not be deemed to create any obligation for such Holder to cure or to undertake the elimination of any such default or claim. 
 As a condition to the effectiveness of this Lease, Landlord and Tenant shall execute and deliver a mutually acceptable Subordination, Non-Disturbance and Attornment Agreement with Landlord’s current
lender in the form attached hereto as Exhibit H. 
 ARTICLE 17 
 Estoppel Certificate 
 Tenant shall from time to time, within twenty (20) days after written request from Landlord, execute, acknowledge and deliver a certificate affirming that, except as otherwise expressly stated in the
certificate, (A) this Lease is unmodified and in full force and effect; (B) to Tenant’s knowledge, Landlord is not in default hereunder; (C) Tenant is in possession of the Premises; (D) Tenant has no off-sets or defenses to
the performance of its obligations under this Lease; (E) that the Premises have been completed in accordance with the terms, covenants and conditions hereof or the Workletter, that Tenant

  

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has accepted the Premises and the condition thereof and of all improvements thereto and has no claims against Landlord or any other party with respect thereto; and (F) certifying such other
matters as Landlord may reasonably request, or as may be requested by Landlord’s current or prospective Holders, insurance carriers, auditors, rating agencies, and prospective purchasers. The certificate shall also confirm the dates to which
the Rent has been paid in advance. The certificate may be relied upon by Landlord, its Holder(s), insurance carriers, auditors, rating agencies, and prospective purchasers. If Tenant shall fail to timely execute and return an estoppel certificate
which has been delivered to Tenant, Tenant shall be deemed to have agreed with the matters originally set forth therein. 
 ARTICLE 18 
 Assignment and Subletting 
 (A)         Transfers. Tenant shall not, without the prior written consent of
Landlord, which consent shall not be unreasonably withheld (as further described below): (i) assign, mortgage, pledge, hypothecate, encumber, or permit any lien to attach to, or otherwise transfer, this Lease or any interest hereunder, by
operation of law or otherwise, (ii) sublet the Premises or any part thereof, or (iii) permit the occupancy of the Premises by any Person other than Tenant and its employees (all of the foregoing are hereinafter sometimes referred to
collectively as “Transfers” and any Person to whom any Transfer is made or sought to be made is hereinafter sometimes referred to as a “Transferee”). If Tenant shall desire Landlord’s consent to
any Transfer, Tenant shall notify Landlord in writing, which notice shall include: (a) the proposed effective date (which shall not be less than thirty (30) nor more than one hundred and eighty (180) days after Tenant’s notice),
(b) the portion of the Premises to be Transferred (herein called the “Subject Space”), (c) the terms of the proposed Transfer and the consideration therefor, the name and address of the proposed Transferee, and a
copy of all documentation pertaining to the proposed Transfer, and (d) current financial statements of the proposed Transferee certified by an officer, partner or owner thereof, and any other information to enable Landlord to determine the
financial responsibility, character, and reputation of the proposed Transferee, nature of such Transferee’s business and proposed use of the Subject Space, and such other information as Landlord may reasonably require. If Landlord requests
additional information, Tenant’s notice will not be deemed to have been received and Landlord may withhold consent to such Transfer until Landlord receives and has a reasonable opportunity to review such additional information. Any Transfer
made without complying with this Article shall, at Landlord’s option, be null, void and of no effect, or shall constitute a Default under this Lease. Whether or not Landlord shall grant consent, Tenant shall pay Landlord $1,000 to compensate
Landlord for its review and processing expenses. 
 (B)        
Approval. Landlord will not unreasonably withhold its consent to any proposed Transfer of the Subject Space to the Transferee on the terms specified in Tenant’s notice. The parties hereby agree that it shall be reasonable under this
Lease and under any applicable Law for Landlord to withhold consent to any proposed Transfer where one or more of the following applies (without limitation as to other reasonable grounds for withholding consent): (i) the Transferee is of a
character or reputation or engaged in a business which is not consistent with the quality of the Property, or would be a significantly less prestigious occupant of the Property than Tenant, (ii) the Transferee intends to use the Subject Space
for purposes which are not permitted under this Lease, (iii) the Subject Space is not regular in shape with appropriate means of ingress and egress suitable for normal renting purposes, (iv) the Transferee is either a government (or agency
or instrumentality thereof) or an occupant of the Property (provided that Landlord shall not withhold consent to a proposed sublease to another occupant of the Property on the grounds that the proposed subtenant is another occupant of the Property
in the event that Landlord does not have alternate vacant space available within the Property that Landlord would otherwise be able to lease to the other occupant), (v) the proposed Transferee does not have a reasonable financial condition in
relation to the obligations to be assumed in connection with the Transfer, (vi) Tenant has committed and

  

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failed to cure a Default at the time Tenant requests consent to the proposed Transfer, (vii) in the judgment of Landlord, such a Transfer would violate any term, condition, covenant, or
agreement of the Landlord involving the Property or any other tenant’s lease within it; or (viii) the net effective rent payable by the Transferee (adjusted on a rentable square foot basis) is less than the net effective rent then being
quoted by Landlord for new leases in the Building for comparable size space for a comparable period and the proposed Transferee is an existing tenant of the Building or in negotiation with Landlord to become a tenant of the Building. If Landlord
wrongfully withholds its consent to any Transfer, Tenant’s sole and exclusive remedy therefor shall be to seek specific performance of Landlord’s obligation to consent to such Transfer. 
 (C)         Transfer Premium. If Landlord consents to a sublease and
the sublease is not to a Permitted Transferee, Tenant shall pay Landlord fifty percent (50%) of any Transfer Premium derived by Tenant from such sublease. “Transfer Premium” shall mean all rent, additional rent or other
consideration paid by the sublessee in excess of the Rent payable by Tenant under this Lease (on a monthly basis during the Term, and on a per rentable square foot basis, if less than all of the Premises is transferred), after deducting therefrom
(on a monthly basis) the reasonable expenses incurred by Tenant, amortized over the balance of the Term, for any changes, alterations and improvements to the Premises, any other economic concessions or services provided to the sublessee, and any
customary brokerage commissions paid in connection with the sublease if acceptable written evidence of such expenditures is provided in advance to Landlord. The percentage of the Transfer Premium due Landlord hereunder shall be paid within ten
(10) days after Tenant receives any Transfer Premium from the Transferee. 
 (D)         Recapture. Intentionally deleted. 
 (E)         Terms of Consent. If Landlord consents to a Transfer: (a) any Transfer shall be made only if, and shall not be effective until, the Transferee shall execute, acknowledge and
deliver to Landlord an agreement in form and substance reasonably satisfactory to Landlord whereby the Transferee shall agree to be bound by and assume the obligations of this Lease on the part of Tenant to be performed or observed, (b) the
terms, covenants and conditions of this Lease, including among other things, Tenant’s (or any Transferee’s) liability for the Subject Space, shall in no way be deemed to have been waived or modified and the original named Tenant (and any
Transferee, as the case may be) shall remain fully liable for the payment of Rent and Additional Rent and for the other obligations of this Lease on the part of Tenant to be performed or observed, (c) such consent shall not be deemed consent to
any further Transfer by either Tenant or a Transferee, (d) no Transferee shall succeed to any rights provided in this Lease or any amendment hereto to extend the Term of this Lease, expand the Premises, or lease additional space, any such
rights being deemed personal to Tenant, (e) Tenant shall deliver to Landlord promptly after execution, an original executed copy of all documentation pertaining to the Transfer in a form reasonably acceptable to Landlord, and (f) Tenant
shall furnish upon Landlord’s request a complete statement, certified by an independent certified public accountant, or an officer of Tenant, setting forth in detail the computation of any Transfer Premium Tenant has derived and shall derive
from such Transfer. Any sublease hereunder shall be subordinate and subject to the provisions of this Lease, and if this Lease shall be terminated during the term of any sublease, Landlord shall have the right to: (i) treat such sublease as
canceled and repossess the Subject Space by any lawful means, or (ii) require that such subtenant attorn to and recognize Landlord as its landlord under any such sublease. If Tenant shall Default and fail to cure within the time permitted for
cure under Section 20(A), Landlord is hereby irrevocably authorized, as Tenant’s agent and attorney-in-fact, to direct any Transferee to make all payments under or in connection with the Transfer directly to Landlord (which Landlord shall
apply towards Tenant’s obligations under this Lease) until such Default is cured. 
 (F)         Permitted Transfers. Notwithstanding Section 17(A), Tenant may Transfer all or part of its interest in this Lease or all or part of the Premises (a “Permitted
Transfer”) to the following types

  

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of entities (a “Permitted Transferee”) without the written consent of Landlord: (i) any Person which, directly or indirectly, through one or more intermediaries,
controls, is controlled by, or is under common control with Tenant (an “Affiliate”); (ii) any corporation, limited partnership, limited liability partnership, limited liability company or other business entity in which
or with which Tenant, or its corporate successors or assigns, is merged or consolidated, in accordance with applicable statutory provisions governing merger and consolidation of business entities, so long as (a) Tenant’s obligations
hereunder are assumed by the entity surviving such merger or created by such consolidation; and (b) the Tangible Net Worth of the surviving or created entity is not less than the Tangible Net Worth of Tenant as of the date hereof; or
(iii) any corporation, limited partnership, limited liability partnership, limited liability company or other business entity acquiring all or substantially all of Tenant’s assets if such entity’s Tangible Net Worth after such
acquisition is not less than the Tangible Net Worth of Tenant as of the date hereof. Tenant shall promptly notify Landlord of any such Permitted Transfer. Tenant shall remain liable for the performance of all of the obligations of Tenant hereunder,
or if Tenant no longer exists because of a merger, consolidation, or acquisition, the surviving or acquiring entity shall expressly assume in writing the obligations of Tenant hereunder. Additionally, the Permitted Transferee shall comply with all
of the terms and conditions of this Lease and the use of the Premises by the Permitted Transferee may not violate any other agreements affecting the Premises, the Building, Landlord or other tenants of the Building. No later than ten (10) days
after the effective date of any Permitted Transfer, Tenant agrees to furnish Landlord with (x) copies of the instrument effecting the Permitted Transfer, (y) documentation establishing Tenant’s satisfaction of the requirements set
forth above applicable to any such Permitted Transfer, and (z) evidence of insurance as required under this Lease with respect to the Permitted Transferee. The occurrence of a Permitted Transfer shall not waive Landlord’s rights as to any
subsequent Transfers. “Tangible Net Worth” means the excess of total assets over total liabilities, in each case as determined in accordance with generally accepted accounting principles consistently applied, excluding,
however, from the determination of total assets all assets which would be classified as intangible assets under GAAP including goodwill, licenses, patents, trademarks, trade names, copyrights, and franchises. Any subsequent Transfer by a Permitted
Transferee shall be subject to the terms of this Article 17. 
 ARTICLE 19 
 Rights Reserved By Landlord 
 Except as expressly provided herein, Landlord reserves the right to control the Property including, without limitation, the following rights: 
 (A)         To change the name or street address of the Building; install and
maintain signs on the exterior and interior of the Property or any part thereof; retain at all times, and use in appropriate instances, keys to all doors within and into the Premises; grant to any Person the right to conduct any business or render
any service at the Property, whether or not it is the same or similar to the use permitted Tenant by this Lease; and have access for Landlord and other tenants of the Property to any mail chutes located on the Premises according to the rules of the
United States Postal Service. 
 (B)         To enter the Premises upon
reasonable prior notice (except in the event of emergency) at reasonable hours to show the Premises to current and prospective mortgage lenders, ground lessors, insurers, and prospective purchasers, tenants and brokers, and if Tenant shall abandon
the Premises at any time, or shall vacate the same during the last three (3) months of the Term, to decorate, remodel, repair, or alter the Premises. 
 (C)         To temporarily limit or prevent access to the Property or any part thereof, shut down elevator service, activate elevator emergency controls, or
otherwise take such action or preventative

  

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measures deemed necessary by Landlord for the safety of tenants or other occupants of the Property or the protection of the Property and other property located thereon or therein, in case of
fire, invasion, insurrection, riot, civil disorder, public excitement or other dangerous condition, or threat thereof. 
 (D)         To decorate and to make alterations, additions and improvements, structural or otherwise, in or to the Property or any part thereof, and to any adjacent building, structure, parking
facility, land, street or alley (including without limitation changes and reductions in corridors, lobbies, parking facilities and other public areas and the installation of kiosks, planters, sculptures, displays, escalators, mezzanines, and other
structures, facilities, amenities and features therein, and changes for the purpose of connection with or entrance into or use of the Property in conjunction with any adjoining or adjacent building or buildings, now existing or hereafter
constructed). In connection with such matters, or with any other repairs, maintenance, improvements or alterations, in or about the Property, Landlord may erect scaffolding and other structures reasonably required, and during such operations may,
upon reasonable prior notice to Tenant, enter upon the Premises at reasonable hours and take into and upon or through the Premises, all materials required to make such repairs, maintenance, alterations or improvements, and may temporarily close
public entry ways, other public areas, restrooms, stairways or corridors and Tenant agrees to pay Landlord for overtime and similar expenses incurred if such work is done other than during ordinary business hours at Tenant’s request.

 (E)         To install, use and maintain in and through the Premises
pipes, conduits, wires, ducts or mechanical installations serving the Property. Tenant agrees that there shall be no construction of partitions or other obstructions which might interfere with the moving or the servicing of equipment of Landlord to
or from the enclosures containing such installations and Tenant further agrees that neither Tenant, nor its servants, employees, agents, visitors, licensees, or contractors shall at any time tamper with, adjust, or otherwise in any manner affect
Landlord’s mechanical installations. 
 (F)         To take any
other action which Landlord deems reasonable in connection with the operation, maintenance, marketing, or preservation of the Property. 
 (G)         To approve the weight, size, and location of safes or other heavy equipment or articles, which articles may be moved in, about, or out of the Property
or the Premises only at such times and in such manner as Landlord shall direct, at Tenant’s sole risk and responsibility. 
 In connection with entering the Premises to exercise any of the foregoing rights, Landlord shall: (a) provide reasonable advance written or oral notice to Tenant’s on-site manager or other
appropriate person (except in emergencies, or for routine cleaning or other routine matters), and (b) take reasonable steps to minimize any interference with Tenant’s business. Landlord shall use reasonable efforts not to interfere with
the conduct of Tenant’s business and Landlord shall return the Premises to the condition equal to or better than the Premises was in prior to entry by Landlord. In addition, Landlord shall respect the confidentiality of Tenant with respect to
any and all information observed or obtained by Landlord or any party Landlord brings on the Premises, while on the Premises. Exercise of any of the foregoing rights shall not constitute a constructive eviction or entitle Tenant to abatement of
Rent, damages or other claims of any kind. Landlord shall have a copy of all keys to all doors within and into the Premises. No locks will be changed without the prior written consent of Landlord, which consent will not be unreasonably withheld or
delayed. 
  

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 ARTICLE 20 
 Landlord’s Remedies 
 (A)         Default. The occurrence of any one or more of the following events shall constitute a “Default” by Tenant, which if not cured within any applicable time
permitted for cure below, shall give rise to Landlord’s remedies set forth in Paragraph (B), below: (i) failure by Tenant to make when due any payment of Rent, unless such failure is cured within five (5) days after written notice
from Landlord to Tenant; (ii) failure by Tenant to observe or perform any of the terms or conditions of this Lease to be observed or performed by Tenant other than the payment of Rent, or as provided below, unless such failure is cured within
thirty (30) days after written notice from Landlord to Tenant, or such shorter period expressly provided elsewhere in this Lease (provided, if the nature of Tenant’s failure is such that more time is reasonably required in order to cure,
Tenant shall not be in Default if Tenant commences to cure within such period and thereafter reasonably seeks to cure such failure to completion); (iii) failure by Tenant to comply with the Rules, unless such failure is cured within five
(5) days after written notice from Landlord to Tenant (provided, if the nature of Tenant’s failure is such that more than five (5) days time is reasonably required in order to cure, Tenant shall not be in Default if Tenant commences
to cure within such period and thereafter reasonably seeks to cure such failure to completion); (iv) vacation or abandonment of all or a substantial portion of the Premises for more than thirty (30) consecutive days (the transfer of a
substantial part of the operations, business or personnel of Tenant to some other location being deemed, without limiting the meaning of the terms “vacation” and “abandonment” to be a vacation or abandonment with the meaning of
this clause (iv)), or the failure to take possession of the Premises within sixty (60) days after the Commencement Date, whether or not Tenant thereafter continues to pay Rent due under this Lease; (v) (a) making by Tenant of any
general assignment for the benefit of creditors, (b) filing by or against Tenant of a petition to have Tenant adjudged a bankrupt or a petition for reorganization or arrangement under any Law relating to bankruptcy (unless, in the case of a
petition filed against Tenant, the same is dismissed within sixty (60) days), (c) appointment of a trustee or receiver to take possession of substantially all of Tenant’s assets located on the Premises or of Tenant’s interest in
this Lease, where possession is not restored to Tenant within thirty (30) days, (d) attachment, execution or other judicial seizure of substantially all of Tenant’s assets located on the Premises or of Tenant’s interest in this
Lease, (e) Tenant’s convening of a meeting of its creditors or any class thereof for the purpose of effecting a moratorium upon or composition of its debts, or (f) Tenant’s insolvency or admission of an inability to pay its debts
as they mature; or (vi) any material misrepresentation herein, or material misrepresentation or omission in any financial statements or other materials provided by Tenant in connection with negotiating or entering this Lease or in connection
with any Transfer under Article 17. Failure by Tenant to comply with the same term or condition of this Lease on three (3) occasions during any twelve (12) month period shall cause any failure to comply with such term or condition during
the succeeding twelve month period, at Landlord’s option, to constitute an incurable Default, if Landlord has given Tenant written notice of each such failure within five (5) days after each such failure occurs. The notice and cure periods
provided herein are in lieu of, and not in addition to, any notice and cure periods provided by Law, and in the case of a conflict, the longer period for notice and cure shall apply. 
 (B)         Remedies. If a Default occurs and is not cured within any
applicable time permitted under Paragraph (A), Landlord shall have the rights and remedies hereinafter set forth, each of which shall be distinct, separate and cumulative with and in addition to any other right or remedy allowed under any Law
(including, without limitation, specific performance) or other provisions of this Lease, any and all of which may be exercised with or without further notice and with or without demand whatsoever, concurrently or successively, and at such time or
times and in such order as Landlord may from time to time determine: 
  

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 (i)        
Terminate this Lease by giving Tenant written notice thereof, in which event Tenant shall pay to Landlord the sum of (a) all Rent accrued hereunder through the date of termination, (b) all amounts due under Section 19(D), and
(c) an amount equal to (1) the total Rent that Tenant would have been required to pay for the remainder of the Term discounted to present value at a per annum rate equal to five percent (5%) or the “Prime Rate” on the date
this Lease is terminated minus one percent, whichever is greater, minus (2) the then present fair rental value of the Premises for such period, similarly discounted. The “Prime Rate” of interest shall be the “Prime
Rate” as published in the “Money Rates” section of The Wall Street Journal from time to time. In the event The Wall Street Journal no longer publishes a Prime Rate of interest, Landlord shall select a comparable
equivalent. For purposes of computing the amount of Rent herein that would have accrued after the time of award, Tenant’s Prorata Share of Taxes and Operating Expenses shall be projected based upon the average rate of increase, if any, in such
items from the Commencement Date through the time of award. 
 (ii)         Terminate Tenant’s right to possess the Premises without terminating this Lease by giving written notice thereof to Tenant, in which event Tenant shall pay to Landlord (a) all
Rent accrued hereunder to the date of termination of possession, (b) all amounts due from time to time under Section 19(D), and (c) all Rent and other net sums required hereunder to be paid by Tenant during the remainder of the Term,
diminished by any net sums thereafter received by Landlord through reletting the Premises during such period, after deducting all costs incurred by Landlord in reletting the Premises. If Landlord elects to proceed under this Section 19(B)(ii),
Landlord may remove all of Tenant’s property from the Premises and store the same in a public warehouse or elsewhere at the cost of, and for the account of, Tenant, without becoming liable for any loss or damage which may be occasioned thereby.
Landlord shall use reasonable efforts to relet the Premises on such terms as Landlord in its sole discretion may determine (including a term different from the Term, rental concessions, and alterations to, and improvement of, the Premises); however,
Landlord shall not be obligated to relet the Premises before leasing other portions of the Building and Landlord shall not be obligated to accept any prospective tenant proposed by Tenant unless such proposed tenant meets all of Landlord’s
leasing criteria. Landlord shall not be liable for, nor shall Tenant’s obligations hereunder be diminished because of, Landlord’s failure to relet the Premises or to collect rent due for such reletting. Tenant shall not be entitled to the
excess of any consideration obtained by reletting over the Rent due hereunder. Reentry by Landlord in the Premises shall not affect Tenant’s obligations hereunder for the unexpired Term; rather, Landlord may, from time to time, bring an action
against Tenant to collect amounts due by Tenant, without the necessity of Landlord’s waiting until the expiration of the Term. Unless Landlord delivers written notice to Tenant expressly stating that it has elected to terminate this Lease, all
actions taken by Landlord to dispossess or exclude Tenant from the Premises shall be deemed to be taken under this Section 19(B)(ii). If Landlord elects to proceed under this Section 19(B)(ii), it may at any time elect to terminate this
Lease under Section 19(B)(i). 
 (C)         Mitigation of
Damages. If Landlord terminates this Lease or Tenant’s right to possession of all or any part of the Premises, Landlord shall use reasonable efforts to mitigate Landlord’s damages to the extent required by Law and Tenant shall
be entitled to submit proof of such failure to mitigate as a defense to Landlord’s claims hereunder. 
 (D)         Payment by Tenant. Upon any uncured Default, Tenant shall pay to Landlord all costs incurred by Landlord (including court costs and reasonable attorneys’ fees and expenses) in
(i) obtaining possession of the Premises, (ii) removing and storing Tenant’s or any other occupant’s property, (iii) repairing, restoring, or otherwise putting the Premises into a condition suitable for Lease (provided

  

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Tenant shall not be required to pay for finish improvements for the next tenant and further provided that Tenant’s obligations under this Subsection (D) shall not be greater than
Tenant’s repair obligations expressly stated elsewhere in this Lease), (iii) if Tenant is dispossessed of the Premises and this Lease is not terminated, reletting all or any part of the Premises (including brokerage commissions and other
costs incidental to such reletting), (iv) performing Tenant’s obligations which Tenant failed to perform, and (v) enforcing or advising Landlord of its rights, remedies, and recourses arising out of the Default. 
 (E)         Interest. Tenant shall pay, as additional Rent, a service
charge of Two Hundred Dollars ($200.00) for bookkeeping and administrative expenses if Rent is not received within five (5) days after its due date; provided, however that Tenant shall not be required to pay this service charge for one
(1) late payment per calendar year so long as Tenant pays Rent in full within five (5) days of receipt of written notice that the same is past due. In addition, any Rent paid more than five (5) days after it is due shall accrue
interest from the due date at the Default Rate until payment is received by Landlord. The “Default Rate” of interest shall be the Prime Rate of interest (defined above) plus ten percent (10%). Such service charge and interest
payments shall not be deemed consent by Landlord to late payments, nor a waiver of Landlord’s right to insist upon timely payments at any time, nor a waiver of any remedies to which Landlord is entitled as a result of the late payment of Rent.
The exercise of any remedy by Landlord shall not be deemed an election of remedies or preclude Landlord from exercising any other remedies in the future. 
 (F)         Landlord Action. If Tenant at any time fails to make any payment or perform any other act on its part to be made or performed under this Lease,
Landlord may, but shall not be obligated to, after reasonable notice or demand and without waiving or releasing Tenant from any obligation under this Lease, make such payment or perform such other act to the extent Landlord may deem desirable and in
that connection pay expenses and employ counsel. All sums paid by Landlord and all costs, charges, and expenses incurred by Landlord in enforcing Tenant’s obligations under this Lease or incurred by Landlord in any litigation, negotiation, or
transaction in which Tenant causes Landlord, without Landlord’s fault, to be involved or concerned (including, but not limited to reasonable attorneys’ fees and costs) shall be payable by Tenant upon demand. 
 (G)         Other Matters. No act or omission by Landlord shall be
construed as an election by Landlord to terminate this Lease or Tenant’s right to possession, or accept a surrender of the Premises, nor shall the same operate to release Tenant in whole or in part from any of Tenant’s obligations
hereunder, unless express written notice of such intention is sent by Landlord or its agent to Tenant. Tenant hereby irrevocably waives any right otherwise available under any Law to redeem or reinstate this Lease. 
 ARTICLE 21 
 Landlord’s Right to Cure 
 If Landlord shall fail to perform any term or provision
under this Lease required to be performed by Landlord, Landlord shall not be deemed to be in default hereunder nor subject to any claims for damages of any kind, unless such failure shall have continued for a period of thirty (30) days after
written notice thereof by Tenant; provided, if the nature of Landlord’s failure is such that more than thirty (30) days are reasonably required in order to cure, Landlord shall not be in default if Landlord commences to cure such failure
within such thirty (30) day period, and thereafter reasonably seeks to cure such failure to completion. The aforementioned periods of time permitted for Landlord to cure shall be extended for any period of time during which Landlord is delayed
in, or prevented from, curing due to fire or other casualty, strikes, lock-outs or other labor troubles, shortages of equipment or materials, governmental requirements, power shortages or outages, acts or omissions by Tenant or other Persons, and
other causes beyond Landlord’s reasonable control. If Landlord shall fail to cure within the times permitted for cure

  

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herein, Landlord shall be subject to such remedies as may be available to Tenant (subject to the other provisions of this Lease); provided, in recognition that Landlord must receive timely
payments of Rent and operate the Property, Tenant shall have no right of self-help to perform repairs or any other obligation of Landlord, and shall have no right to withhold, set-off, or abate Rent, provided that Tenant’s remedy should
Landlord fail to pay the Construction Allowance in accordance with the terms of Exhibit B to the Lease is setoff against Base Rent and nothing in this Article 21 shall be deemed to contradict Tenant’s offset rights under Exhibit B. 

ARTICLE 22 
 Conveyance by Landlord and Liability 
 In case Landlord or any successor owner of the
Property shall convey or otherwise dispose of the Property, or the portion thereof in which the Premises are located, to another Person (and nothing herein shall be construed to restrict or prevent such conveyance or disposition), such other Person
shall thereupon be and become “Landlord” hereunder and shall be deemed to have fully assumed and be liable for all obligations of this Lease to be performed by Landlord which first arise after the date of conveyance, and Tenant shall
attorn to such other Person, and Landlord or such successor owner shall, from and after the date of conveyance, be free of all liabilities and obligations hereunder not then incurred. The liability of Landlord to Tenant for any default by Landlord
under this Lease or arising in connection herewith or with Landlord’s operation, management, leasing, repair, renovation, alteration, or any other matter relating to the Property or the Premises, shall be limited to the interest of Landlord in
the Property provided that Tenant may off-set any obligation to pay Base Rent under this Lease in the event Landlord fails to pay the Construction Allowance in accordance with the terms of Exhibit B to this Lease. Tenant agrees to look solely to
Landlord’s interest in the Property for the recovery of any judgment against Landlord and Landlord shall not be personally liable for any such judgment or deficiency after execution thereon. The limitations of liability contained in this
Article shall apply equally and inure to the benefit of Landlord’s present and future members, managers, partners, beneficiaries, officers, directors, trustees, shareholders, agents and employees, and their respective partners, legal
representatives, heirs, successors and assigns, directors, trustees, shareholders, agents and employees, and their respective partners, legal representatives, heirs, successors and assigns. Under no circumstances shall any present or future
shareholder, officer or director of Landlord (if Landlord is a corporation), general or limited partner of Landlord (if Landlord is a partnership), manager or member of Landlord (if Landlord is a limited liability company), or trustee or beneficiary
(if Landlord or any partner of Landlord is a trust) have any liability for the performance of Landlord’s obligations under the Lease. 
 ARTICLE 23 
 Indemnification 
 Except to the extent arising from the intentional misconduct or negligent acts of Landlord or Landlord’s agents or
employees, Tenant shall defend, indemnify and hold harmless Landlord from and against any and all claims, demands, liabilities, damages, judgments, orders, decrees, actions, proceedings, fines, penalties, costs and expenses, including without
limitation, court costs and reasonable attorneys’ fees arising from or relating to any loss of life, damage or injury to person, property or business occurring in or from the Premises, or caused by or in connection with any violation of this
Lease or use of the Premises or the Property by, or any other act or omission of, Tenant, any other occupant of the Premises, or any of their respective agents, employees, contractors or guests. Without limiting the generality of the foregoing,
Tenant specifically acknowledges that the indemnity undertaking herein shall apply to claims in connection with or arising out of any “Work” by Tenant, the installation, maintenance, use or removal of any “Lines” located in or
serving the Premises as described in Article 25, and the

  

 26 

 
transportation, use, storage, maintenance, generation, manufacturing, handling, disposal, release or discharge of any “Hazardous Material” as described in Article 26 (whether or not any
of such matters shall have been theretofore approved by Landlord), except to the extent that any of the same arises from the intentional misconduct or negligent acts of Landlord or Landlord’s agents or employees. In case Landlord, its agents or
employees shall be made a party to any litigation commenced by or against Tenant, then Tenant shall indemnify, defend and hold them harmless and shall pay all costs, expenses, and reasonable attorneys’ fees incurred or paid by them in
connection with such litigation. The obligations assumed herein shall survive the expiration or sooner termination of this Lease. The foregoing indemnity shall be in addition to, and shall not be in discharge of or in substitution for, any of the
insurance requirements or any other indemnity provisions of this Lease. The occurrence of any event for which the Tenant is required to indemnify Landlord under the terms of this Article 22 shall be referred to as an Indemnity Event. Landlord agrees
that Landlord shall notify Tenant in writing of the Indemnity Event promptly after Landlord discovers the existence of an Indemnity Event. In the event any action or proceeding is brought against Landlord by reason of any Indemnity Event, Tenant
shall defend such proceeding by legal counsel of its choice, reasonably satisfactory to Landlord. 
 ARTICLE 24

 Safety and Security Devices, Services and Programs 
 The parties acknowledge that safety and security devices, services and programs provided by Landlord, if any, while intended
to deter crime and ensure safety, may not in given instances prevent theft or other criminal acts, or ensure safety of persons or property. The risk that any safety or security device, service or program may not be effective, or may malfunction, or
be circumvented by a criminal, is assumed by Tenant with respect to Tenant’s property and interests, and Tenant shall obtain insurance coverage to the extent Tenant desires protection against such criminal acts and other losses, as further
described in Article 9. Tenant agrees to cooperate in any reasonable safety or security program developed by Landlord or required by Law. 
 Landlord and Tenant recognize the risk of domestic or international threats or acts of violence, terrorism, and war which may require additional security measures in the day-to-day operation of the
Property. To promote the health, safety and welfare of the Building’s tenants, Tenant agrees to cooperate in any security measures instituted by Landlord or recommended by governmental officials in response to this risk. Tenant shall
participate in evacuation drills performed by Landlord from time to time. Tenant consents to the search of all persons entering or leaving the Property. Expenses incurred by Landlord in connection with the development, implementation and provision
of security measures shall be included in Operating Expenses. The exercise of security measures by the Landlord and the resulting interruption of service to, or cessation or diminution of Tenant’s business, if any, shall not be deemed to be an
eviction or disturbance of Tenant’s use and possession of the Premises, or any part thereof, or render Landlord liable to Tenant for any resulting damages or relieve Tenant from Tenant’s obligations under this Lease. 
 ARTICLE 25 
 Communications and Computer Lines 
 Tenant may install, maintain, replace, remove or use
any communications or computer wires, cables and related electronic signal transmission devices (collectively the “Lines”) at the Property in or serving the Premises, provided: (a) Tenant shall (i) obtain
Landlord’s prior written consent (not to be unreasonably withheld), (ii) use an experienced and qualified contractor approved in writing by Landlord which approval shall not be unreasonably withheld, and (iii) comply with all of the
other provisions of Article 6; (b) any such installation, maintenance, replacement, removal or use shall comply with all Laws

  

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applicable thereto and good work practices, and shall not interfere with the use of any then existing Lines at the Property; (c) an acceptable number of spare Lines and space for additional
Lines shall be maintained for existing and future occupants of the Property, as determined in Landlord’s reasonable opinion; (d) if Tenant at any time uses any equipment that may create an electromagnetic field exceeding the normal
insulation ratings of ordinary twisted pair riser cable or cause radiation higher than normal background radiation, the Lines therefor (including riser cables) shall be appropriately insulated to prevent such excessive electromagnetic fields or
radiation; (e) Tenant’s rights shall be subject to the rights of any regulated telephone company; and (f) Tenant shall pay all costs in connection with Tenant’s Lines. Landlord reserves the right to require that Tenant remove any
Lines located in or serving the Premises which are installed in violation of these provisions, or which are at any time in violation of any Laws or represent a dangerous or potentially dangerous condition. 
 Landlord may (but shall not have the obligation to): (i) install new Lines at the Property, (ii) create additional
space for Lines at the Property, and (iii) reasonably direct, monitor or supervise the installation, maintenance, replacement and removal of, the allocation and periodic re-allocation of available space (if any) for, and the allocation of
excess capacity (if any) on, any Lines now or hereafter installed at the Property by Landlord, Tenant or any other party (but Landlord shall have no right to monitor or control the information transmitted through such Lines). Such rights shall not
be in limitation of other rights that may be available to Landlord by Law or otherwise. If Landlord exercises any such rights, Landlord may charge Tenant for the costs attributable to Tenant, or may include those costs and all other costs in
Operating Expenses (including without limitation, costs for acquiring and installing Lines and risers to accommodate new Lines and spare Lines, any associated computerized system and software for maintaining records of Line connections, and the fees
of any consulting engineers and other experts); provided, any capital expenditures included in Operating Expenses hereunder shall be amortized (together with reasonable finance charges) over the period of time prescribed by Article 3(B). 

Notwithstanding anything to the contrary contained in Article 11, Landlord reserves the right to require that Tenant
remove any or all Lines installed by or for Tenant within or serving the Premises upon termination of this Lease, provided Landlord so notifies Tenant in writing prior to such termination. Any Lines not required to be removed pursuant to this
Article shall, at Landlord’s option, become the property of Landlord (without payment by Landlord). If Tenant fails to remove such Lines as required by Landlord, or violates any other provision of this Article, Landlord may, after twenty
(20) days written notice to Tenant, remove such Lines or remedy such other violation, at Tenant’s expense (without limiting Landlord’s other remedies available under this Lease or applicable Law). Tenant shall not, without the prior
written consent of Landlord in each instance which consent shall not be unreasonably withheld, grant to any third party a security interest or lien in or on the Lines, and any such security interest or lien granted without Landlord’s written
consent shall be null and void. Except to the extent arising from the intentional misconduct or negligent acts of Landlord or Landlord’s agents or employees, Landlord shall have no liability for damages arising from, and Landlord does not
warrant that the Tenant’s use of any Lines will be free from the following (collectively called “Line Problems”): (x) any eavesdropping or wire-tapping by unauthorized parties, (y) any failure of any Lines to
satisfy Tenant’s requirements, or (z) any shortages, failures, variations, interruptions, disconnections, loss or damage caused by the installation, maintenance, replacement, use or removal of Lines by or for other tenants or occupants at
the Property, by any failure of the environmental conditions or the power supply for the Property to conform to any requirements for the Lines or any associated equipment, or any other problems associated with any Lines by any other cause. Under no
circumstances shall any Line Problems be deemed an actual or constructive eviction of Tenant, render Landlord liable to Tenant for abatement of Rent, or relieve Tenant from performance of Tenant’s obligations under this Lease. Landlord in no
event shall be liable for damages by reason of loss of profits, business interruption or other consequential damage arising from any Line Problems. Notwithstanding anything to the contrary contained herein, Tenant shall not be required to remove the
cabling from the patch panels to the work stations. 
  

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 ARTICLE 26 
 Hazardous Materials 
 Tenant
shall not transport, use, store, maintain, generate, manufacture, handle, dispose, release or discharge any “Hazardous Material” (as defined below) upon or about the Property, or permit Tenant’s employees, agents, contractors, and
other occupants of the Premises to engage in such activities upon or about the Property. However, the foregoing provisions shall not prohibit the transportation to and from, and use, storage, maintenance and handling within, the Premises of
substances customarily used in offices provided: (a) such substances shall be used and maintained only in such quantities as are reasonably necessary for such permitted use of the Premises, strictly in accordance with applicable Law and the
manufacturers’ instructions therefor, (b) such substances shall not be disposed of, released or discharged on the Property, and shall be transported to and from the Premises in compliance with all applicable Laws, and as Landlord shall
reasonably require, (c) if any applicable Law or Landlord’s trash removal contractor requires that any such substances be disposed of separately from ordinary trash, Tenant shall make arrangements at Tenant’s expense for such disposal
directly with a qualified and licensed disposal company at a lawful disposal site (subject to scheduling and approval by Landlord), and shall ensure that disposal occurs frequently enough to prevent unnecessary storage of such substances in the
Premises, and (d) any remaining such substances shall be completely, properly and lawfully removed from the Property upon expiration or earlier termination of this Lease. 
 Tenant shall promptly notify Landlord of: (i) any enforcement, cleanup or other regulatory action taken or threatened by any governmental or regulatory authority with respect to
the presence of any Hazardous Material on the Premises or the migration thereof from or to other property, (ii) any demand or claim made or threatened by any party against Tenant or the Premises relating to any loss or injury resulting from any
Hazardous Material, (iii) any release, discharge or non-routine, improper or unlawful disposal or transportation of any Hazardous Material on or from the Premises, and (iv) any matter where Tenant is required by Law to give a notice to any
governmental or regulatory authority respecting any Hazardous Material on the Premises. Landlord shall have the right (but not the obligation) to join and participate as a party in any legal proceedings or actions affecting the Premises initiated in
connection with any environmental, health or safety Law. At such times as Landlord may reasonably request, Tenant shall provide Landlord with a written list identifying any Hazardous Material then used, stored, or maintained upon the Premises, the
use and approximate quantity of each such material, a copy of any material safety data sheet (“MSDS”) issued by the manufacturer therefor, written information concerning the removal, transportation and disposal of the same,
and such other information as Landlord may reasonably require or as may be required by Law. The term “Hazardous Material” for purposes hereof shall mean any chemical, substance, material or waste or component thereof which is
now or hereafter listed, defined or regulated as a hazardous or toxic chemical, substance, material or waste or component thereof by any federal, state or local governing or regulatory body having jurisdiction, or which would trigger any employee or
community “right-to-know” requirements adopted by any such body, or for which any such body has adopted any requirements for the preparation or distribution of an MSDS. 
 If any Hazardous Material is released, discharged or disposed of by Tenant or any other occupant of the Premises, or their
employees, agents or contractors, on or about the Property in violation of the foregoing provisions, Tenant shall immediately, properly and in compliance with applicable Laws clean up and remove the Hazardous Material from the Property and any other
affected property and clean or replace any affected personal property (whether or not owned by Landlord), at Tenant’s expense. Such clean up and removal work shall be subject to Landlord’s prior written approval (except in emergencies),
and shall include, without limitation, any testing, investigation, and the preparation and implementation of any remedial action plan required by any governmental body having jurisdiction or reasonably required by Landlord. If Tenant shall fail to
comply with the provisions of this Article within five (5) days after

  

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written notice by Landlord, or such shorter time as may be required by Law or in order to minimize any hazard to Persons or property, Landlord may (but shall not be obligated to) arrange for such
compliance directly or as Tenant’s agent through contractors or other parties selected by Landlord, at Tenant’s expense (without limiting Landlord’s other remedies under this Lease or applicable Law). If any Hazardous Material is
released, discharged or disposed of on or about the Property and such release, discharge or disposal is not caused by Tenant or other occupants of the Premises, or their employees, agents or contractors, such release, discharge or disposal shall be
deemed casualty damage under Article 8 to the extent that the Premises or common areas of the Property serving the Premises are affected thereby; in such case, Landlord and Tenant shall have the obligations and rights respecting such casualty damage
provided under Article 8. 
 ARTICLE 27 
 Offer 
 The submission and negotiation of this Lease
shall not be deemed an offer to enter the same by Landlord, but the solicitation of such an offer by Tenant. Tenant agrees that its execution of this Lease constitutes a firm offer to enter the same which may not be withdrawn for a period of fifteen
(15) days after delivery to Landlord. During such period and in reliance on the foregoing, Landlord may, at Landlord’s option, proceed with any plans, specifications, alterations or improvements, and permit Tenant to enter the Premises,
but such acts shall not be deemed an acceptance of Tenant’s offer to enter this Lease, and such acceptance shall be evidenced only by Landlord signing and delivering this Lease to Tenant. 
 ARTICLE 28 
 Notices 
 Except as expressly provided to the contrary in this Lease, every notice or other communication to be given by either party
to the other with respect hereto shall be in writing and shall be effective when served personally or by reputable national air courier service, or United States certified mail, return receipt requested, postage prepaid, addressed, if to Tenant, at
1745 Technology Drive, San Jose, CA 95110-1310, and if to Landlord, c/o Wells Real Estate Funds, 6200 The Corners Parkway, Suite 250, Norcross, Georgia 30092, Attn: 6000 Nathan Lane, Plymouth, MN Asset Manager, or such other address or addresses as
Tenant or Landlord may from time to time designate by notice given as above provided. Every notice or other communication hereunder shall be deemed to have been given as of the third business day following the date of such mailing (or as of any
earlier date evidenced by a receipt from such national air courier service or the United States Postal Service) or immediately if personally delivered. Notices not sent in accordance with the foregoing shall be of no force or effect until received
by the foregoing parties at such addresses required herein. 
 Tenant shall provide Landlord with the name(s) of
individual(s) authorized to make requests of Landlord for services and to deal with Landlord’s property manager with regard to day to day operations. If Tenant fails to provide such names, Landlord may comply with written or oral requests by
any officer or employee of Tenant. Tenant shall not authorize more than three (3) individuals for each floor on which the Premises are located. 
  

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 ARTICLE 29 
 Real Estate Brokers 
 Neither
Landlord nor Tenant has dealt with any broker or agent in connection with the negotiation or execution of this Lease, other than CB Richard Ellis and Cushman & Wakefield, whose commissions shall be paid by Landlord pursuant to their
separate written agreement. Tenant and Landlord shall each indemnify the other against all costs, expenses, attorneys’ fees, liens and other liability for commissions or other compensation claimed by any broker or agent claiming the same by,
through, or under the indemnifying party. 
 ARTICLE 30 
 Common Area Improvements 
 Landlord shall begin work to update entrance lobby finishes in the Building to reflect a Class A office building by January 1, 2010, with such work to be completed by June 1, 2010. Landlord shall provide sample schematics of
the of the proposed new common area finish materials to be used in connection with such renovation work to Tenant for review and input when samples become available. The Building shall continue to have food service and the Fitness Facility during
the Term. Notwithstanding anything to the contrary contained herein, Landlord shall be solely responsible for all of the costs and expenses in connection with and related to the work to update the entrance lobby in the Building to reflect a
Class A office building as set forth in the Article 30. Said cost and expenses to update the entrance lobby in the Building to reflect a Class A office building shall not be a Operating Expense. 
 ARTICLE 31 
 Exculpatory Provisions 
 It is expressly understood and agreed by and between the
parties hereto, anything herein to the contrary notwithstanding, that each and all of the representations, warranties, covenants, undertakings, and agreements herein made on the part of Landlord while in form purporting to be the representations,
warranties, covenants, undertakings, and agreements of Landlord are nevertheless each and every one of them made and intended, not as personal representations, warranties, covenants, undertakings, and agreements by Landlord or for the purpose or
with the intention of binding Landlord personally, but are made and intended for the purpose only of subjecting Landlord’s interest in the Property to the terms of the Lease. The limitations of liability contained in this provision shall apply
equally and inure to the benefit of Landlord’s present and future partners, beneficiaries, officers, directors, trustees, members, managers, shareholders, agents and employees, and their respective partners, members, shareholders, legal
representatives, heirs, successors and assigns. Under no circumstances shall any present or future shareholder, officer or director of Landlord (if Landlord is a corporation), general or limited partner of Landlord (if Landlord is a partnership),
manager or member of Landlord (if Landlord is a limited liability company), or trustee or beneficiary (if Landlord or any partner of Landlord is a trust) have any liability for the performance of Landlord’s obligations under the Lease.

 ARTICLE 32 
 Mortgagee’s Consent 
 This Lease is subject to
and conditioned upon, any required consent or approval being granted without any fee, charge or condition that is unacceptable to Landlord, by Landlord’s mortgagee(s) within

  

 31 

 
thirty (30) days after the date that Tenant executes and delivers this Lease to Landlord. If Landlord fails to timely obtain Landlord’s mortgagee’s consent, Landlord shall have the
right, by notice to Tenant during such 30 day period, to terminate this Lease. Landlord’s signature on this Lease and delivery of a fully executed Lease to Tenant shall be deemed to constitute waiver or satisfaction of the condition contained
in this Article 32. 
 ARTICLE 33 
 Miscellaneous 
 (A)         Binding Upon Parties. Each of the terms, covenants and conditions of this Lease shall be binding upon and inure to the benefit of the parties hereto, their respective heirs,
executors, administrators, guardians, custodians, successors and assigns, subject to the provisions of Article 18 respecting Transfers; and all references herein to Landlord and Tenant shall be deemed to include all such parties. The term
“Landlord” as used in this Lease, so far as covenants or obligations on the part of Landlord are concerned, shall be limited to mean only the owner or owners of the Property at the time in question. 
 (B)         No Recording. Landlord and Tenant agree that in no event and
under no circumstances shall this Lease be recorded. A short-form memorandum may be recorded at Landlord’s sole election. If a memorandum is recorded, Tenant shall, at Landlord’s request, deliver to Landlord a fully executed quitclaim and
release agreement in recordable form wherein Tenant terminates the memorandum. 
 (C)         Governing Law. This Lease shall be construed in accordance with the Laws of the State of Minnesota. 
 (D)         Survival. All obligations or rights of either party arising during or attributable to the period ending upon expiration or
earlier termination of this Lease shall survive such expiration or earlier termination. 
 (E)         Quiet Enjoyment. Landlord agrees that, if Tenant timely pays the Rent and performs the terms, covenants and conditions hereunder, and subject to all other terms, covenants and
conditions of this Lease, Tenant shall hold and enjoy the Premises during the Term, free of lawful claims by any Person acting by or through Landlord. 
 (F)         Light and Air. This Lease does not grant any legal rights to “light and air” outside the Premises nor any particular view or cityscape
visible from the Premises. 
 (G)         Time of Essence. Time
is of the essence of this Lease and each and all of its provisions. 
 (H)         Severability. The invalidity or unenforceability of any provision of this Lease shall not affect or impair any other provisions. 
 (I)         Force Majeure. Notwithstanding anything in this Lease to the
contrary, neither party shall be chargeable with, or liable to the other for, anything or in any amount for any failure to perform or delay caused by any of the following (“Force Majeure Delays”): fire; earthquake; explosion;
flood; hurricane; the elements; act of God or the public enemy; actions, restrictions, limitations or interference of governmental authorities or agents; enforcement of Laws; war, terrorist act or acts, invasion; insurrection; rebellion; riots;
strikes or lockouts; inability to perform, control or prevent which is beyond the reasonable control of that party; and any such failure or delay due to said causes or any of them shall not be deemed a breach of or default in the performance of this
Lease by that Party; provided, however, lack of funds shall not be deemed a Force Majeure Delay. 
  

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 (J)         Pronouns. Any
pronoun used in place of a noun shall indicate and include the masculine or feminine, the singular or plural number, individuals, firms or corporations, and their and each of their respective successors, executors, administrators, assigns, according
to the context hereof. 
 (K)         Captions and Severability.
The captions of the Articles, Sections and Paragraphs of this Lease are for convenience only and shall in no way modify any provision of this Lease. If any term or provision of this Lease shall be found invalid, void, illegal, or unenforceable by a
court of competent jurisdiction, it shall not affect, impair or invalidate any other term or provision hereof. 
 (L)         Definitions. “Law” shall mean all federal, state, county and local governmental and municipal laws, statutes, ordinances, rules, regulations, codes, decrees,
and orders, as well as applicable decisions by courts in the State of Minnesota and by federal courts applying Minnesota law. “Person” shall mean an individual, trust, partnership, joint venture, association, corporation, and
any other entity. 
 (M)         Prohibited Party Transactions.
Tenant represents and warrants to Landlord that (1) Tenant is not acting, directly or indirectly, for or on behalf of any person, group, entity, or nation named by any Executive Order or the United States Treasury Department as a terrorist,
“Specially Designated National,” “Blocked Person,” or other banned or blocked person, entity, nation, or transaction pursuant to any law, order, rule, or regulation that is enforced or administered by the Office of Foreign Assets
Control; and (2) Tenant is not engaged in this transaction, directly or indirectly on behalf of, or instigating or facilitating this transaction, directly or indirectly on behalf of, any such person, group, entity or nation. Tenant agrees to
defend, indemnify, and hold harmless Landlord from and against any and all claims, damages, losses, risks, liabilities, and expenses (including reasonable attorney’s fees and costs) arising or related to any breach of the foregoing
representation and warranty. 
 (N)         Signage. Landlord
shall provide Tenant with Building standard lobby directory and suite entrance signage. For so long as Tenant leases at least 39,000 rentable square feet in the Building, Tenant shall continue to have the right to maintain, at Tenant’s expense,
Tenant’s existing exterior signage (or equivalent) during the Term. Upon the expiration of this Lease or the earlier termination of Tenant’s signage rights, at Tenant’s expense, Tenant shall remove such exterior signage and repair all
damage caused by Tenant’s signage and the removal thereof. At Landlord’s election, Landlord may perform such removal and/or restoration work and bill Tenant for Landlord’s reasonable costs incurred in connection with same. 

ARTICLE 34 
 Entire Agreement 
 This Lease, together with Rider One and the Exhibits attached hereto
(each of which is hereby incorporated into this Lease), contains all the terms, covenants and conditions between Landlord and Tenant relative to the matters set forth herein and no prior agreement or understanding pertaining to the same shall be of
any force or effect. Without limitation, Tenant hereby acknowledges and agrees that Landlord’s leasing agents and field personnel are only authorized to show the Premises and negotiate terms, covenants and conditions for leases subject to
Landlord’s final approval, and are not authorized to bind Landlord to any agreements, representations, understandings or obligations with respect to the condition of the Premises or the Property, the suitability of the same for Tenant’s
business, or any other matter, and no agreement, representation, understanding or obligation not expressly contained herein shall be of any effect. Neither this Lease, nor any Rider or Exhibit referred to above may be modified, except in writing
signed by both parties. 
  

 33 

 ARTICLE 35 
 Parking 
 Parking shall be
available in areas designated by Landlord for tenant parking. Parking for Tenant and its employees and visitors shall be on a “first come, first served,” unassigned basis, with Landlord and other tenants at the Property, and their
employees and visitors, and other Persons to whom Landlord shall grant the right or who shall otherwise have the right to use the same, all subject to Landlord’s rules, as the same may be amended or supplemented, and applied on a
non-discriminatory basis. Notwithstanding the foregoing to the contrary, Landlord reserves the right to assign specific spaces, to maintain one or more “executive parking areas” containing reserved spaces, and to reserve spaces for
visitors, small cars, handicapped individuals, and other tenants, visitors of tenants or other Persons, and Tenant and its employees and visitors shall not park in any such assigned or reserved spaces. Landlord may restrict or prohibit full size
vans and other large vehicles. Landlord may charge a fee for reserved parking spaces, which fee shall be subject to increase from time to time. Notwithstanding anything to the contrary contained herein, Landlord shall make available to Tenant the
number of parking spots in the parking lot an amount equal to Tenant’s Pro Rata Share as available in the parking lot. 
 In case of any violation of these provisions, Landlord may refuse to permit the violator to park, and may remove the vehicle owned or driven by the violator from the Property without liability whatsoever,
at such violator’s risk and expense. Landlord reserves the right to temporarily close all or a portion of the parking areas or facilities in order to make repairs or perform maintenance services, or to alter, modify, re-stripe or renovate the
same, or if required by casualty, strike, condemnation, act of God, Law or governmental requirement, or any other reason beyond Landlord’s reasonable control. In the event access is denied for any reason, any parking charges shall be abated to
the extent access is denied, as Tenant’s sole recourse. Tenant acknowledges that such parking areas or facilities may be operated by an independent contractor not affiliated with Landlord, and Tenant acknowledges that in such event, Landlord
shall have no liability for claims arising through acts or omissions of such independent contractor, if such contractor is reputable, and the management fee of any such independent contractor may be included in Operating Expenses. 
 ARTICLE 36 
 Right of First Offer 
 Subject to then-existing renewal or expansion options of other
tenants, and provided no Default then exists, Landlord shall, prior to offering the same to any party (other than the then-current tenant therein), first offer to lease to Tenant any space that Landlord desires to make available for lease in the
Building that is contiguous to any portion of the Premises (including contiguous space on floors above and below the second floor portion of the Premises and the Lower Level) (the “Offer Space”) in an “AS-IS”
condition; such offer shall be in writing and specify the lease terms for the Offer Space, including the rent to be paid for the Offer Space, any tenant improvement allowance to be provided, and the date on which the Offer Space shall be included in
the Premises (the “Offer Notice”). If an Offer Notice is given prior to April 30, 2011, the Offer Notice shall provide for Base Rent at the rate set forth in Article 2 above. After April 30, 2011, offered Base Rent
shall be at market terms for the Building, taking into account that this is a net lease; any differences in the size of space being leased, the location of space in the building and the length of lease terms; any differences in definitions of
rentable square feet or rentable area with respect to which rental rates are computed; the value of rent abatements, allowances (for demolition, space planning, architectural and engineering fees, construction, moving expenses or other purposes),
the creditworthiness of Tenant; work that landlord is required to perform (such as, without limitation, demising and base building work), and other pertinent factors. Offered tenant improvement

  

 34 

 
allowance amounts shall be at market terms for the Building, taking into account the factors set forth in the preceding sentence as well as the base rental rate being paid. The base rent may
include an escalation of a fixed net rental rate (based on a fixed step or index) then prevailing in the market. Tenant shall notify Landlord in writing whether Tenant elects to lease the entire Offer Space on the terms set forth in the Offer
Notice, within ten (10) days after Landlord delivers to Tenant the Offer Notice. If Tenant timely elects to lease the Offer Space, then Landlord and Tenant shall execute an amendment to this Lease, effective as of the date the Offer Space is to
be included in the Premises, on the terms set forth in the Offer Notice and, to the extent not inconsistent with the Offer Notice terms, the terms of this Lease; however, Tenant shall accept the Offer Space in an “AS-IS” condition and
Landlord shall not provide to Tenant any allowances (e.g., moving allowance, construction allowance, and the like) or other tenant inducements except as specifically provided in the Offer Notice. Notwithstanding the foregoing, if prior to
Landlord’s delivery to Tenant of the Offer Notice, Landlord has received an offer to lease all or part of the Offer Space from a third party (a “Third Party Offer”) and such Third Party Offer includes space in excess of
the Offer Space, Tenant must exercise its rights hereunder, if at all, as to all of the space contained in the Third Party Offer. If Tenant fails or is unable to timely exercise its right hereunder, then such right shall lapse, time being of the
essence with respect to the exercise thereof (it being understood that Tenant’s right hereunder is a one-time right only), and Landlord may lease all or a portion of the Offer Space to third parties on such terms as Landlord may elect. Tenant
may not exercise its rights under this Article if a Default exists or Tenant is not then occupying the entire Premises. For purposes hereof, if an Offer Notice is delivered for less than all of the Offer Space but such notice provides for an
expansion, right of first refusal, or other preferential right to lease some of the remaining portion of the Offer Space, then such remaining portion of the Offer Space shall thereafter be excluded from the provisions of this Article. In no event
shall Landlord be obligated to pay a commission with respect to any space leased by Tenant under this Article and Tenant and Landlord shall each indemnify the other against all costs, expenses, attorneys’ fees, and other liability for
commissions or other compensation claimed by any broker or agent claiming the same by, through, or under the indemnifying party. Tenant’s rights under this Article shall terminate if (a) this Lease or Tenant’s right to possession of
the Premises is terminated, (b) Tenant assigns any of its interest in this Lease or sublets any portion of the Premises, or (c) less than 24 full calendar months remain in the initial Term of this Lease. 
 ARTICLE 37 
 Termination Option 
 Tenant shall have the right and option in
Tenant’s sole discretion, to terminate the Lease in its entirety (“Termination Option”) effective as of the last day of the sixty-sixth (66th) Lease Month (October 31, 2015) (“Termination Effective Date”). Tenant may exercise the
Termination Option, if at all, by giving Landlord irrevocable written notice of Tenant’s exercise of the Termination Option no later than nine (9) months prior to the Termination Effective Date. As a condition to the effectiveness of
Tenant’s exercise of the Termination Option, Tenant shall pay Landlord the Termination Fee (other than in the event of casualty loss or condemnation) no later than the Termination Effective Date. The “Termination Fee”
shall be Three Hundred Thousand Dollars ($300,000.00). If Tenant timely and properly exercises the Termination Option in accordance with this Article 36, then this Lease shall terminate on the Termination Effective Date as if such date was the
scheduled expiration date under this Lease. 
  

 35 

 ARTICLE 38 
 Prior Lease 
 On the Effective
Date, this Lease shall supersede in its entirety the existing lease dated September 30, 1998 between Landlord’s predecessor in interest, Opus Northwest, L.L.C., and Tenant’s predecessor in interest, Computer Network Technology
Corporation (as assigned and as amended by First Amendment dated November 4, 1999 and Second Amendment dated May 12, 2006, the “Prior Lease”). The parties shall fulfill their obligations under the Prior Lease,
including, without limitation, Tenant’s property management obligations, through April 30, 2010, which is the day before the Effective Date of this Lease, PROVIDED, HOWEVER, that contemporaneously with execution of this Lease, the parties
shall enter into and execute a Management Transition Agreement which shall set forth the duties, responsibilities, terms and conditions related to the transition of the property management and related items in connection with the transition between
the Prior Lease and this Lease. Full execution and delivery of such a Management Transition Agreement on terms acceptable to Landlord and Tenant, as evidenced by their signatures thereon, shall be a condition to the effectiveness of this Lease.

 ARTICLE 39 
 Roof Rights 
 Subject to the requirements of Article
25 and subject to availability of space (provided Landlord agrees to make available for Tenant up to 500 square feet of space on the roof), Landlord agrees that Tenant may use space on the roof of the Building so that Tenant may install satellite
transmitting or receiving dishes necessary for Tenant’s business (and not for public broadcasting) (individually or collectively, the “Dish”), provided that (a) the size, location and manner of installation of such
Dish shall be determined by Landlord in its reasonable discretion, (b) no such Dish shall be affixed to the roof of the Building by any device which penetrates the roof without Landlord’s prior consent which consent shall not be
unreasonable withheld and Landlord shall have the right to approve in advance Tenant’s mounting of the Dish, (c) Tenant shall bear all costs incurred with respect to the installation, operation, maintenance, removal and insuring of the
Dish, (d) installation, operation and removal of the Dish shall be performed in such manner as is necessary in order to preserve Landlord’s roof warranty; and (e) the installation, operation and maintenance of the Dish is permitted
under and performed in full compliance with all applicable Laws and the rules and regulations of the Building. Landlord agrees that Tenant shall have the non-exclusive right to use the risers in the Building for installation, operation, maintenance
and removal of Lines leading to and from the Dish; as provided in Article 24. Tenant shall be responsible for the repair and maintenance of the Dish and all related equipment and wiring of Tenant during the Term of this Lease at Tenant’s sole
cost and expense. Upon the termination of this Lease Tenant shall, at Tenant’s sole cost and expense, remove said Dish and all related equipment and wiring and repair any damage to the roof or risers of the Building caused as a result of such
use or removal. Landlord will not be liable to Tenant or to any other person whomsoever for any injury to person or damage to property, arising out of any use of the roof or any other portion of the Building in connection with the Dish. Under no
circumstances shall any interference, problems, or inability to use the Dish be deemed an actual or constructive eviction of Tenant, render Landlord liable to Tenant for abatement of Rent, or relieve Tenant from performance of Tenant’s
obligations under this Lease; however, at Tenant’s request, Landlord shall use commercially reasonable efforts to aid Tenant in resolving any such problems experienced by Tenant. Landlord in no event shall be liable for damages by reason of
loss of profits, business interruption or other consequential damage arising from any such problems. If Landlord permits Tenant to penetrate the roof, all work involving the roof penetration must be performed by Landlord’s roofing contractor.

  

 36 

 ARTICLE 40 
 Generator 
 For so long as this
Lease remains in effect, Tenant shall continue to have the right to maintain, at Tenant’s expense, Tenant’s existing back up power generator and related wiring for Tenant’s use. Tenant is the owner of Tenant’s existing backup
power generator. At Tenant’s sole expense, Tenant shall have the option to remove the generator and related equipment and improvements upon the expiration or earlier termination of this Lease and in the event Tenant chooses to remove the
generator, Tenant shall be responsible for repair of all damage caused by Tenant’s removal of the generator. If Tenant fails to do so, Landlord may (but shall not be obligated to) so remove and repair. Tenant agrees that Landlord shall have the
right to maintain and keep Landlord’s life safety systems for the Building on Tenant’s existing back up power generator including the fire pump and the elevators. Landlord shall not add any other equipment or system to the generator.
Tenant shall not add any equipment or system to the generator if the addition will cause the load on the generator to exceed its rated capacity. Except as caused by the negligence or intentional misconduct of Tenant, Tenant’s affiliates,
agents, employees, contractors, and their respective successors and assigns (“Tenant Parties”), Landlord shall indemnify Tenant from all third party claims against Tenant and related costs, losses, liabilities, damages and expenses
(including reasonable attorneys’ fees) arising out of any failure, malfunction, or breakdown of Tenant’s existing back up power generator that results in any interruption of service, failure, malfunction, or breakdown of Landlord’s
life safety systems on Tenant’s existing back up power generator. Tenant shall indemnify Landlord from all third party claims against Landlord and related costs, losses, liabilities, damages and expenses (including reasonable attorneys’
fees) arising out of any failure, malfunction, or breakdown of Tenant’s existing back up power generator that results in any interruption of service, failure, malfunction, or breakdown of Landlord’s life safety systems on Tenant’s
existing back up power generator caused by the negligence or intentional misconduct of Tenant Parties. Without limitation of Tenant’s obligations under Article 26, Tenant shall indemnify Landlord from all claims, costs, losses, liabilities, and
expenses (including reasonable attorneys’ fees) arising out of the installation, use, maintenance, operation and removal of the generator. During the Term, Tenant shall be solely responsible at Tenant’s sole cost for (1) servicing and
maintaining the generator in a good, functioning and safe condition to an SLA level consistent with manufacturer’s recommendations and (2) obtaining and maintaining in full force and effect any and all required permits and approvals with
respect to the generator. For purposes of this Article 40 and Article 42 below, the term “third party” means a party other than Tenant Parties and Landlord and Landlord’s affiliates, agents, employees, contractors, and their
respective successors and assigns. 
 ARTICLE 41 
 Alternative Dispute Mechanism 
 In the event of any dispute under this Lease, Landlord and Tenant agree to attempt to resolve the dispute by negotiation. Prior to pursuing any remedy otherwise available to a party, such party shall notify the other party of the dispute
setting forth in reasonable detail the issues involved. For a period of thirty (30) days after such notice is given, the parties agree in good faith to attempt to resolve the dispute through negotiation. Such efforts shall include, at a
minimum, two (2) meetings in person between Landlord and Tenant. The first meeting shall be held in Minneapolis, Minnesota, at a time and place reasonably determined by the party giving notice of the dispute, and the second meeting shall be
held in Minneapolis, Minnesota, at a time and place reasonably determined by the other party. In the event that the parties are unable to resolve the dispute during such thirty (30) day period and after meeting in person on at least two
(2) occasions, either party may pursue any remedy available to it, subject to Article 14 and the other specific terms of this Lease. 
  

 37 

 ARTICLE 42  
 UPS; Chilled Water Fan Units and Chiller 
 For
so long as this Lease remains in effect, Tenant agrees that Landlord shall continue to have the right to place Landlord’s two (2) glycol pumps on the roof of the Building on Tenant’s UPS. Landlord’s cost of operating,
maintaining, servicing and (if necessary) replacing the glycol pumps and related common shared equipment shall be billed to and paid by only the Building tenants who use the glycol pumps from time to time, each such tenant being responsible for a
proportionate share of such costs based on such tenant’s proportionate usage of the pumps as reasonably determined by Landlord. If during the Term other tenants begin to use, or discontinue using, the glycol pumps and related common shared
equipment, all users’ proportionate share for purposes of this Article 42 shall be appropriately adjusted. During the Term, Tenant shall be solely responsible for servicing and maintaining at Tenant’s cost the UPS in a good, functioning
and safe condition in accordance with manufacturer’s recommendations. Except as caused by the negligence or intentional misconduct of Tenant, Tenant’s employees and/or contractors, Landlord shall indemnify Tenant from all third party
claims and related costs, losses, liabilities, damages and expenses (including reasonable attorneys’ fees) arising out of any failure, malfunction, or breakdown of Tenant’s UPS that results in any interruption of service, failure,
malfunction, or breakdown of Landlord’s two (2) glycol pumps on the roof of the Building placed on Tenant’s UPS. Tenant shall indemnify Landlord from all third party claims against Landlord and related costs, losses, liabilities,
damages and expenses (including reasonable attorneys’ fees) arising out of any failure, malfunction, or breakdown of Tenant’s UPS that results in any interruption of service, failure, malfunction, or breakdown of Landlord’s glycol
pumps caused by the negligence or intentional misconduct of Tenant, Tenant’s employees and/or contractors. Tenant currently owns, and for so long as this Lease remains in effect, Tenant shall have the exclusive right to use, the three 20 ton
chilled-water fan units located on the Lower Level and the 130 ton Carrier Chiller located next to the loading dock of the Building. Subject to Tenant’s representation and warranty in Article 40 above, Tenant shall have the right to place the
three 20 ton chilled-water fan units and the 130 ton Carrier Chiller on Tenant’s existing back up power generator. Tenant shall be solely responsible for all costs and expenses in connection with the operation, maintenance (to an SLA level
consistent with manufacturer’s recommendations), repair, replacement of the three 20 ton chilled water fan units located on the Lower Level and the 130 ton Carrier Chiller located next to the loading dock of the Building. In addition, for so
long as this Lease remains in effect, Tenant shall have the non-exclusive right to use the three (3) electrical panels (including the electrical infrastructure from the UPS up to and including the buss system) located in the Lower Level that
are currently backed up by Tenant’s UPS. If during the Term Landlord leases the space in which the three 20 ton chillers and/or the three (3) electrical panels are located, Landlord shall have the right to require Tenant to relocate, at
Tenant’s expense, such equipment into the Premises or another location acceptable to Landlord on ninety (90) days prior written notice. If Tenant does not relocate such equipment within such ninety (90) day period, such equipment
shall be deemed abandoned and Landlord may re-use or dispose of such equipment as Landlord sees fit. 
  

 38 

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

							
		 	 LANDLORD:
	  	
			
		 	WELLS VAF – 6000 NATHAN LANE, LLC, a Delaware limited liability company	  	
			
		 	By:   Wells Mid-Horizon Value-Added Fund I, LLC, a Georgia limited liability company, its sole member	  	
			
		 	By:  Wells Investment Management Company, LLC a Georgia limited liability company, its manager	  	
				
		 	 By:
	  	/s/ Kevin A. Hoover	  	
		 	 Name: Kevin A. Hoover
	  	
		 	 Its: President
	  	
			
		 	TENANT:	  	
			
		 	BROCADE COMMUNICATIONS SYSTEMS, INC. a Delaware corporation	  	
				
		 	 By:
	  	/s/ Richard Deranleau	  	
		 	 Name: Richard Deranleau
	  	
		 	 Its: VP Finance & CFO
	  	

  

 39 

 RIDER ONE 
 RULES 
 Any sign, lettering, picture, notice or
advertisement installed on or in any part of the Premises and visible from the exterior of the Premises, will be installed at Tenant’s sole cost and expense, and in such manner, character and style as Landlord may approve in writing. In the
event of a violation of the foregoing by Tenant, Landlord may remove the same without any liability and may charge the expense incurred by such removal to Tenant. 
 No awning or other projection will be attached to the outside walls of the Building. No curtains, blinds, shades or screens visible from the exterior of the Building or visible from the exterior of the
Premises, will be attached to or hung in, or used in connection with any window or door of the Premises without the prior written consent of Landlord. Such curtains, blinds, shades, screens or other fixtures must be of a quality, type, design and
color, and attached in the manner approved by Landlord. 
 Tenant, its servants, employees, customers, invitees and guests will
not obstruct sidewalks, entrances, passages, corridors, vestibules, halls, elevators, or stairways in and about the Building which are used in common with other tenants and their servants, employees, customers, guests and invitees, and which are not
a part of the Premises of Tenant. Tenant will not place objects against glass partitions or doors or windows which would be unsightly from the Building corridors or from the exterior of the Building, or that would interfere with the operation of any
device, equipment, radio, television broadcasting or reception from or within the Building or elsewhere and will not place or install any projections, antennas, aerials or similar devices inside or outside of the Premises or on the Building.

 Tenant will not waste electricity, water or air conditioning and will cooperate fully with Landlord to ensure the most
effective operation of the Building’s heating and air conditioning systems and will refrain from attempting to adjust any controls other than unlocked room thermostats, if any, installed for Tenant’s use. Tenant will keep corridor doors
closed. 
 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 after normal business hours. 
 No person or contractor
not employed by Landlord will be used to perform janitorial work, window washing cleaning, maintenance, repair or similar work in the Premises without the written consent of Landlord. 
 In no event will Tenant bring into the Building inflammables, such as gasoline, kerosene, naphtha and benzene, or explosives 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 for all or any part of the Building will at any time be increased, Tenant will make immediate payment of the whole of the increased
insurance premium, without waiver of any of Landlord’s other rights at law or in equity for Tenant’s breach of this Lease. 
 Tenant will comply with all applicable federal, state and municipal laws, ordinances and regulations, and building rules and will not directly or indirectly make any use of the Premises which may be prohibited by any of the foregoing or
which may be dangerous to persons or property or may increase the cost of insurance or require additional insurance coverage. 
  

 Rider-1 

 Landlord will have the right to prohibit any advertising by Tenant which in Landlord’s
reasonable opinion tends to impair the reputation of the Building or its desirability as an office complex for office use, and upon written notice from Landlord, Tenant will refrain from or discontinue such advertising. 
 The Premises will not be used for cooking (except for the use of microwave ovens), lodging, sleeping or for any immoral or illegal purpose.

 Tenant and Tenant’s servants, employees, agents, visitors and licensees will observe faithfully and comply strictly with
the foregoing rules and regulations and such other and further appropriate rules and regulations as Landlord or Landlord’s agent may from time to time adopt. Reasonable notice of any additional rules and regulations will be given in such manner
as Landlord may reasonably elect. 
 Unless expressly permitted by Landlord, no additional locks or similar devices will be
attached to any door or window and no keys other than those provided by Landlord will be made for any door. If more than two keys for one lock are desired by Tenant, Landlord may provide the same upon payment by Tenant. Upon termination of this
Lease or of Tenant’s possession, Tenant will surrender all keys of the Premises and will explain to Landlord all combination locks on safes, cabinets and vaults. 
 Any carpeting cemented down by Tenant will be installed with a releasable adhesive. In the event of a violation of the foregoing by Tenant, Landlord may charge the expense incurred by such removal to
Tenant. 
 The water and wash closets, drinking fountains and other plumbing fixtures will not be used for any purpose other
than those for which they were constructed, and no sweepings, rubbish, rags, coffee grounds or other substances will be thrown therein. All damages resulting from any misuse of the fixtures will be borne by Tenant who, or those servants, employees,
agents, visitors or licensees, will have caused the same. No person will waste water by interfering or tampering with the faucets or otherwise. 
 No electrical circuits for any purpose will be brought into the leased premises without Landlord’s written permission specifying the manner in which same may be done. 
 No bicycle or other vehicle, and no dog (other than seeing-eye dogs) or other animal will be allowed in offices, halls, corridors, or
elsewhere in the building. 
 Tenant will not throw anything out of the door or windows, or down any passageways or elevator shafts. 

All loading, unloading, receiving or delivery of goods, supplies or disposal of garbage or refuse will be made only through entryways and
freight elevators provided for such purposes and indicated by Landlord. Tenant will be responsible for any damage to the building or property of its employees or others and injuries sustained by any person whomsoever resulting from the use or moving
of such articles in or out of the leased premises, and will make all repairs and improvements required by Landlord or governmental authorities in connection with the use or moving of such articles. 
 All safes, equipment or other heavy articles will be carried in or out of the Premises only at such time and in such manner as will be
prescribed in writing by Landlord, and Landlord will in all cases have the right to specify the proper position of any such safe, equipment or other heavy article, which will only be used by Tenant in a manner which will not interfere with or cause
damage to the leased premises or the building in which they are located, or to the other tenants or occupants of such building. Tenant will be responsible for any damage to the building or the property of its employees or others and injuries
sustained by any person whomsoever resulting from the use or moving of such articles in or out of the

  

 Rider-2 

 
leased premises, and will make all repairs and improvements required by Landlord or governmental authorities in connection with the use or moving of such articles. 
 Canvassing, soliciting, and peddling in the building is prohibited and each Tenant will cooperate to prevent the same. 
 Vending machines will not be installed without permission of Landlord (which will not be unreasonably withheld). 
 Wherever in these Building Rules and Regulations the word “Tenant” occurs, it is understood and agreed that it will mean
Tenant’s associates, agents, clerks, servants and visitors. Wherever the word “Landlord” occurs, it is understood and agreed that it will mean Landlord’s assigns, agents, clerks, servants and visitors. 
 Landlord will have the right to enter the leased premises (upon reasonable notice) at all reasonable hours for the purpose of inspecting the
same. 
 Landlord will have the right to enter the leased premises at hours convenient to Tenant for the purpose of exhibiting
the same to prospective tenants within the 12-month period prior to the expiration of this Lease, and may place signs advertising the leased premises for rent on the windows and doors of such Premises at any time within such 12-month period.

 Tenants, its servants, employees, customers, invitees and guests will, when using the common parking facilities, if any, in
and around the building, observe and obey all signs regarding fire lanes and no parking zones, and when parking always park between the designated lines. Landlord reserves the right to tow away, at the expense of the owner, any vehicle which is
improperly parked in a no parking zone. All vehicles will be parked at the sole risk of the owner, and Landlord assumes no responsibility for any damage to or loss of vehicles. No vehicles will be parked overnight. 
 At all times the Building will be in charge of Landlord’s employee in charge and (a) persons may enter the Building only in
accordance with Landlord’s regulations, (b) persons entering or departing from the Building may be questioned as to their business in the Building, and the right is reserved to require the use of an identification card or other access
device and the registering of such persons as to the hour of entry and departure, nature of visit, and other information deemed necessary for the protection of the Building, and (c) all entries into and departures from the Building will take
place through such one or more entrances as Landlord will from time to time designate; provided, however, anything herein to the contrary notwithstanding, Landlord will not be liable for any lack of security in respect to the Building whatsoever.
Landlord will normally not enforce clauses (a), (b) and (c) above from 8:00 a.m. to 6:00 p.m., Monday through Friday, and from 8:00 a.m. to 1:00 p.m. on Saturdays, but it reserves the right to do so or not to do so at any time at its sole
discretion. In case of invasion, mob, riot, public excitement, or other commotion, Landlord reserves the right to prevent access to the Building during the continuance of the same by closing the doors or otherwise, for the safety of the tenants or
the protection of the Building and the property therein. Landlord will in no case be liable for damages for any error or other action taken with regard to the admission to or exclusion from the Building of any person. 
 All entrance doors to the Premises will be locked when the Premises are not in use. All corridor doors will also be closed during times when
the air conditioning equipment in the Building is operating so as not to dissipate the effectiveness of the system or place an overload thereon. 
 Tenant shall comply with Building rules and regulations implemented by Landlord from time to time with respect to energy conservation and environmental initiatives, whether such rules and regulations are
the

  

 Rider-3 

 
result of governmental requirement or independently implemented by Landlord. Such initiatives may include, but shall not be limited to, stormwater management initiatives; heat island reduction
(roof or non-roof); usage of low VOC construction materials (including, without limitation, low VOC paint and carpet); energy efficient lighting (and controls), equipment, and appliances; HVAC efficiencies; water use reduction; CFC reduction;
recycling; construction waste management; usage of locally manufactured materials; usage of rapidly renewable materials; and usage of recycled materials. 
 Landlord reserves the right at any time and from time to time to rescind, alter or waive, in whole or in part, any of these Rules and Regulations when it is deemed necessary, desirable, or proper, in
Landlord’s reasonable judgment, for its best interest or for the best interest of the tenants of the Building. 
  

 Rider-4 

 EXHIBIT A 
 (Floor plan(s) showing Premises) 
 (see attached test fit
plan) 
  

 A-1 

 

 
  

 

 
  

 EXHIBIT B 
 TENANT FINISH-WORK: ALLOWANCE 
 (Tenant
Performs the Work) 
  

	1.	 Acceptance of Premises.  Except as set forth in this Exhibit, Tenant accepts the Premises in their “AS-IS”
condition on the date that this Lease is entered into. 

  

	2.	 Space Plans.  Landlord and Tenant have approved the Test Fit Plans attached hereto as Exhibit A depicting improvements to be
installed in the Premises (the “Space Plans”), the first page of which was prepared by Vangard Concept Offices and is dated June 12, 2009 and the second page of which was prepared by BDH & Young Space Design and
which shows the location of the lower level space. The scope of the work to be performed by Tenant must include all demising and separate metering to ensure that the Premises are separately demised and metered as shown on the Space Plans.

  

	3.	 Working Drawings. 

 (a) Preparation and Delivery.  Tenant shall provide to Landlord for its approval final working drawings, prepared by BDH & Young Space Design or by another
architect chosen by Tenant in Tenant’s sole discretion (“Architect”), of all improvements that Tenant proposes to install in the Premises; such working drawings must be consistent with the final approved Space Plans and
shall include the partition layout, ceiling plan, electrical outlets and switches, telephone outlets, drawings for any modifications to the mechanical and plumbing systems of the Building, and detailed plans and specifications for the construction
of the improvements called for under this Exhibit in accordance with all applicable Laws. All costs incurred by Tenant in connection with preparation of the Working Drawings or other design expenses may be paid out of the Construction Allowance.

 (b) Approval Process.  Landlord shall notify Tenant whether it approves of
the submitted working drawings within ten (10) business days after Tenant’s submission thereof. If Landlord disapproves of such working drawings, then Landlord shall notify Tenant thereof specifying in reasonable detail the reasons for
such disapproval, in which case Tenant shall, within ten (10) business days after such notice, revise such working drawings in accordance with Landlord’s objections and submit the revised working drawings to Landlord for its review and
approval. Landlord shall notify Tenant in writing whether it approves of the resubmitted working drawings within five (5) business days after its receipt thereof. This process shall be repeated until the working drawings have been finally
approved by Tenant and Landlord. If Landlord fails to notify Tenant that it disapproves of the initial working drawings within ten (10) business days (or, in the case of resubmitted working drawings, within five (5) business days) after
the submission thereof, then Landlord shall be deemed to have approved the working drawings in question. 
  

	4.	 Landlord’s Approval; Performance of Work.  If any of Tenant’s proposed construction work will affect the
Building’s structure or the Building’s Systems and Equipment, then the working drawings pertaining thereto must be approved by the Building’s engineer of record. Landlord’s approval of such working drawings shall not be
unreasonably withheld, provided that (a) they comply with all Laws, (b) the improvements depicted thereon do not adversely affect (in the reasonable discretion of Landlord) the Building’s structure or the Building’s Systems and
Equipment, the exterior appearance of the Building, or the appearance of the common area, (c) such working drawings are sufficiently detailed to allow construction of the improvements in a good and workmanlike manner, and (d) the
improvements depicted thereon conform to the rules

  

 B-1 

	 	 
and regulations promulgated from time to time by Landlord for the construction of tenant improvements. As used herein, “Working Drawings” shall mean the final working
drawings approved by Landlord, as amended from time to time by any approved changes thereto, and “Work” shall mean all improvements to be constructed in accordance with and as indicated on the Working Drawings, together with
any work required by governmental authorities to be made to other areas of the Building as a result of the improvements indicated by the Working Drawings. Landlord’s approval of the Working Drawings shall not be a representation or warranty of
Landlord that such drawings are adequate for any use or comply with any Law, but shall merely be the consent of Landlord thereto. Tenant shall, at Landlord’s request, sign the Working Drawings to evidence its review and approval thereof. After
the Working Drawings have been approved, Tenant shall cause the Work to be performed in accordance with the Working Drawings. 

  

	5.	 Contractors; Performance of Work. The Work shall be performed only by licensed contractors and subcontractors approved in writing by
Landlord, which approval shall not be unreasonably withheld. All contractors and subcontractors shall be required to procure and maintain insurance against such risks, in such amounts, and with such companies as Landlord may reasonably require,
which requirements are to be provided to Tenant at the time the Space Plans have been approved. Certificates of such insurance, with paid receipts therefor, must be received by Landlord before the Work is commenced. The Work shall be performed
in a good and workmanlike manner free of defects, shall conform strictly with the Working Drawings, and shall be performed in such a manner and at such times as and not to interfere with or delay Landlord’s other contractors, the operation of
the Building, and the occupancy thereof by other tenants. All contractors and subcontractors shall contact Landlord and schedule time periods during which they may use Building facilities in connection with the Work (e.g., elevators, excess
electricity, etc.). 

  

	6.	 Construction Contracts. 

 (a) Tenant’s General Contractor. Tenant shall enter into a construction contract with a general contractor selected by Tenant (and approved by Landlord), which shall
comply with the provisions of this Section 5 and provide for, among other things, (i) a one-year warranty for all defective Work; (ii) a requirement that Tenant’s Contractor maintain insurance in accordance with Landlord’s
insurance requirements; (iii) a requirement that the contractor perform the Work in substantial accordance with the Working Drawings and in a good and workmanlike manner; (iv) a requirement that the contractor is responsible for daily
cleanup work and final clean up (including removal of debris); and (v) those items described in Section 6.(b) (collectively, the “Approval Criteria”). Landlord shall have five (5) business days to
notify Tenant whether it approves the proposed construction agreements. If Landlord disapproves of the proposed construction agreements, then it shall specify in reasonable detail the reasons for such disapproval, in which case Tenant shall revise
the proposed construction agreements to correct the objections and resubmit them to Landlord within five (5) business days after Landlord notifies Tenant of its objections thereto, following which Landlord shall have five
(5) business days to notify Tenant whether it approves the revised construction agreements. If Landlord fails to notify Tenant that it disapproves of the construction agreements within three (3) business days after the initial
construction agreements or two (2) business days after the revised construction agreements (as the case may be) are delivered to Landlord, then Landlord shall be deemed to have approved the construction agreements. 
 (b) All Construction Contracts. Unless otherwise agreed in writing by Landlord and Tenant, each of
Tenant’s construction contracts shall: (i) provide a schedule and sequence of construction activities and completion reasonably acceptable to Landlord, (ii) require the contractor and each

  

 B-2 

 
subcontractor to name Landlord, Landlord’s property management company, and Tenant as additional insured on such contractor’s insurance maintained in connection with the construction of
the Work, (iii) be assignable following a Default by Tenant under the Lease to Landlord and Landlord’s Holder, and (iv) contain at least a one-year warranty for all workmanship and materials. Notwithstanding anything to the contrary
contained herein, Landlord and Tenant acknowledge and agree that Tenant shall complete the Work on or before May 1, 2011, provided, however, that nothing contained in this Workletter shall permit Tenant to retain possession of any portion of
the Building other than the Second Floor Premises and the Lower Level Premises after April 30, 2010. Tenant has certain rights to use other areas in the Building as set forth in Articles 39, 40, and 42 of the Lease. 
  

	7.	 Change Orders. Tenant may initiate changes in the Work. Any change that materially alters the Working Drawings or impacts the building
structure, systems, or appearance to the public or other tenants, must receive the prior written approval of Landlord, such approval not to be unreasonably withheld or delayed; however, if such requested change would adversely affect (in the
reasonable discretion of Landlord) (i) the Building’s structure or the Building’s Systems and Equipment, (ii) the exterior appearance of the Building, or (iii) the appearance of the common area, Landlord may withhold its
consent in its sole and absolute discretion. Tenant shall, upon completion of the Work, furnish Landlord with an accurate architectural “as-built” plan of the Work as constructed (in CAD format), which plan shall be incorporated into this
Exhibit B by this reference for all purposes. If Tenant requests any changes to the Work described in the Working Drawings, then such increased costs and any additional design costs incurred in connection therewith as the result of any such change
shall be added to the Total Construction Costs. 

  

	8.	 Definitions. As used herein “Substantial Completion,” “Substantially Completed,” and
any derivations thereof mean the Work in the Premises is substantially completed (as reasonably determined by Landlord) in accordance with the Working Drawings. Substantial Completion shall have occurred even though minor details of construction,
decoration, and mechanical adjustments remain to be completed. 

  

	9.	 Walk-Through; Punchlist. When Tenant considers the Work in the Premises to be Substantially Completed, Tenant will notify Landlord and
within three (3) business days thereafter, Landlord’s representative and Tenant’s representative shall conduct a walk-through of the Premises and identify any necessary touch-up work, repairs and minor completion items that are
necessary for final completion of the Work. Neither Landlord’s representative nor Tenant’s representative shall unreasonably withhold his or her agreement on punchlist items. Tenant shall use reasonable efforts to cause the contractor
performing the Work to complete all punchlist items within 30 days after agreement thereon. 

  

	10.	 Excess Costs. The entire cost of performing the Work (including design of the Work and preparation of the Working Drawings
management and supervision of the Work, costs of construction labor and materials, electrical usage during construction, additional janitorial services, general tenant signage, related taxes and insurance costs, all of which costs are herein
collectively called the “Total Construction Costs”) in excess of the Construction Allowance (hereinafter defined) shall be paid by Tenant. Upon approval of the Working Drawings and selection of a contractor, Tenant shall
promptly execute a work order agreement which identifies such drawings and itemizes the Total Construction Costs and sets forth the Construction Allowance. 

  

	11.	 Construction Allowance. Landlord shall provide to Tenant a construction allowance not to exceed $28.55 per rentable square foot in the
Premises (the “Construction Allowance”) to be

  

 B-3 

	 	 
applied toward the Total Construction Costs, as adjusted for any changes to the Work. No advance of the Construction Allowance shall be made by Landlord until Tenant has first paid to the
contractor from its own funds (and provided reasonable evidence thereof to Landlord) the anticipated amount by which the projected Total Construction Costs exceed the amount of the Construction Allowance. Thereafter, Landlord shall pay to Tenant the
Construction Allowance in multiple disbursements (but not more than once in any calendar month) following the receipt by Landlord of the following items: (a) a request for payment, (b) final or partial lien waivers, as the case may be,
from all persons performing work or supplying or fabricating materials for the Work, fully executed, acknowledged and in recordable form, (c) the Architect’s certification that the Work for which reimbursement has been requested has been
finally completed, including (with respect to the last application for payment only) any punch-list items, on the appropriate AIA form or another form approved by Landlord, and, with respect to the disbursement of the last 10% of the Construction
Allowance, (w) “as built” drawings in both paper and AutoCad format; (x) the permanent certificate of occupancy issued for the Premises, (y) Tenant’s occupancy of the Premises, and (z) an estoppel certificate
confirming such factual matters as Landlord or Landlord’s Mortgagee may reasonably request (collectively, a “Completed Application for Payment”). Landlord shall pay the amount requested in the applicable Completed
Application for Payment to Tenant within thirty (30) days following Tenant’s submission of the Completed Application for Payment. If, however, the Completed Application for Payment is incomplete or incorrect, Landlord’s payment of
such request shall be deferred until thirty (30) days following Landlord’s receipt of the Completed Application for Payment. Notwithstanding anything to the contrary contained in this Exhibit, Landlord shall not be obligated to make any
disbursement of the Construction Allowance during the pendency of any of the following: (1) Landlord has received written notice of any unpaid claims relating to any portion of the Work or materials in connection therewith, other than claims
which will be paid in full from such disbursement, (2) there is an unbonded lien outstanding against the Building or the Premises or Tenant’s interest therein by reason of work done, or claimed to have been done, or materials supplied or
specifically fabricated, claimed to have been supplied or specifically fabricated, to or for Tenant or the Premises, (3) the conditions to the advance of the Construction Allowance are not satisfied, or (4) a Default by Tenant exists.
Subject to the foregoing, in the event Landlord defaults in the payment of the Construction Allowance, Tenant may offset the unpaid amount against Base Rent due under the Lease. The Construction Allowance shall be available to Tenant upon Lease
execution and shall continue to be available to Tenant through May 1, 2011. The Construction Allowance must be used to pay for the Total Construction Costs; however, a portion of the Construction Allowance, not to exceed an amount equal to
$13.00 per rentable square foot of the Premises, may be used for Tenant’s moving expenses, cabling/wiring installation and removal, and installation/relocation and refurbishment and purchase of equipment and furniture with respect to the
Premises. 

  

	12.	 Construction Representatives. Landlord’s and Tenant’s representatives for coordination of construction and approval of
change orders will be as follows, provided that either party may change its representative upon written notice to the other: 

  

			
	Landlord’s Representative:	  	Kevin Fossum
		  	Regional Manager
		  	 Piedmont Office Realty Trust
 800 Nicollet Mall, Suite 2400
 Minneapolis, MN 55402

		  	 Telephone: (612) 852-5555
 Telecopy: (612) 343-8858
 Kevin.Fossum@Piedmontreit.com

  

 B-4 

			
	Tenant’s Representative:	  	Duncan Schmidt
		  	Brocade Communications Systems, Inc
		  	1745 Technology Drive
		  	San Jose, CA 95110-1310
		  	Telephone: (408) 333-8000
		  	Telecopy: (408) 333-8101
		  	dschmidt@brocade.com

  

	13.	 Miscellaneous. To the extent not inconsistent with this Exhibit, Articles 6 and 11 of this Lease shall govern the performance of the
Work and Landlord’s and Tenant’s respective rights and obligations regarding the improvements installed pursuant thereto. 

  

 B-5 

 EXHIBIT C 
 OPTION TO EXTEND 
 Tenant is
hereby granted the option (“Extension Option”) to extend the term of the Lease for two (2) consecutive periods of five (5) Lease Years (“Extension Term”). Each Extension Option may be
exercised only by giving Landlord irrevocable and unconditional written notice thereof no earlier than eighteen (18) months and no later than twelve (12) months prior to the commencement of the Extension Term. Tenant may not exercise the
Extension Option if Tenant is in default under the Lease beyond the expiration of any applicable cure period either at the date of said notice or at any time thereafter prior to commencement of the Extension Term. Upon exercise of the Extension
Option, all references in the Lease to the Term shall be deemed to be references to the Term as extended pursuant to the Extension Option. 
 The Extension Term shall be on the same terms, covenants and conditions as are contained in the Lease, except that (i) no additional extension option shall be conferred by the exercise of the
Extension Option, (ii) Base Rent applicable to the Premises for the Extension Term shall be determined as provided below, and (iii) any initial rent abatement, concession or allowance which are in the nature of economic concessions or
inducements shall not be applicable to any Extension Term. In addition to Base Rent, Tenant shall pay Additional Rent, and other Rent during the Extension Term as provided in this Lease. 
 Base Rent per annum per rentable square foot of the Premises for the Extension Term shall be one hundred percent
(100%) of the Current Market Rate for lease terms commencing on or about the date of commencement of the Extension Term. The term “Current Market Rate” means the prevailing net rental rate per rentable square foot under
renewals of office leases recently executed for comparable space in the Building. The determination of Current Market Rate shall take into consideration that this is a net lease; any differences in the size of space being leased, the location of
space in the building and the length of lease terms; any differences in definitions of rentable square feet or rentable area with respect to which rental rates are computed; the value of rent abatements, allowances (for demolition, space planning,
architectural and engineering fees, construction, moving expenses or other purposes), the creditworthiness of Tenant; and other pertinent factors. The Current Market Rate may include an escalation of a fixed net rental rate (based on a fixed step or
index) then prevailing in the market. 
 Within thirty (30) days after receipt of Tenant’s notice to
extend Landlord shall deliver to Tenant written notice of the Current Market Rate and shall advise Tenant of the required adjustment to Base Rent, if any. 
 Tenant shall, within twenty one (21) days after receipt of Landlord’s notice, notify Landlord in writing whether Tenant (a) accepts Landlord’s determination of the Current Market Rate;
(b) rejects Landlord’s determination of the Current Market Rate, or (c) requests that the Current Market Rate be determined by an appraiser (“Arbitration Request”). If Tenant rejects Landlord’s
determination, Tenant’s exercise of the Extension Option granted herein shall be deemed revoked and of no further force of effect. If Tenant requests that the Current Market Rate be determined by an appraiser, Landlord and Tenant, within ten
(10) days after the date of the Arbitration Request, shall each simultaneously submit to the other, in a sealed envelope, its good faith estimate of the Current Market Rate (collectively referred to as the “Estimates”).
If the higher of such Estimates is not more than one hundred five percent (105%) of the lower of such Estimates, then Current Market Rate shall be the average of the two Estimates. If the Current Market Rate is not resolved by the exchange of
Estimates, Landlord and Tenant, within seven (7) days after the exchange of Estimates, shall each select a appraiser to determine which of the two Estimates most closely reflects the Current Market Rate. Each appraiser so selected shall be
certified as an MAI appraiser and shall have had at least five (5) years experience within the previous ten (10) years

  

 C-1 

 
as a real estate appraiser working in the same submarket in which the Building is located, with working knowledge of current office rental rates and practices. For purposes of this Lease, an
“MAI” appraiser means an individual who holds an MAI designation conferred by, and is an independent member of, the American Institute of Real Estate Appraisers (or its successor organization, or in the event there is no successor
organization, the organization and designation most similar). Upon selection, Landlord’s and Tenant’s appraisers shall work together in good faith to agree upon which of the two Estimates most closely reflects the Current Market Rate. The
Estimate chosen by such appraisers shall be binding on both Landlord and Tenant as the Current Market Rate. If either Landlord or Tenant fails to appoint an appraiser within the seven day period referred to above, the appraiser appointed by the
other party shall be the sole appraiser for the purposes hereof. If the two appraisers cannot agree upon which of the two Estimates most closely reflects the Current Market Rate within the twenty (20) days after their appointment, then, within
ten (10) days after the expiration of such twenty (20) day period, the two (2) appraisers shall select a third appraiser meeting the aforementioned criteria. Once the third appraiser has been selected as provided for above, then, as
soon thereafter as practicable but in any case within fourteen (14) days, the appraiser shall make his determination of which of the two Estimates most closely reflects the Current Market Rate and such Estimate shall be binding on both Landlord
and Tenant as the Current Market Rate. The parties shall share equally in the costs of the third appraiser. Any fees of any appraiser, counsel or experts engaged directly by Landlord or Tenant, however, shall be borne by the party retaining such
appraiser, counsel or expert. In the event that the Current Market Rate has not been determined by the commencement date of the Extension Term at issue, Tenant shall pay the most recent Base Rent set forth in the Lease until such time as the Current
Market Rate has been determined. Upon such determination, Base Rent shall be retroactively adjusted. If such adjustment results in an underpayment of Base Rent by Tenant, Tenant shall pay Landlord the amount of such underpayment within thirty
(30) days after the determination thereof. If such adjustment results in an overpayment of Base Rent by Tenant, Landlord shall credit such overpayment against the next installment of Base Rent due under the Lease and, to the extent necessary,
any subsequent installments until the entire amount of such overpayment has been credited against Base Rent. 
 Tenant must timely exercise the Extension Option or the Extension Option shall terminate. Tenant’s exercise of the Extension Option shall not operate to cure any default by Tenant of any of the terms or provisions in the Lease, nor to
extinguish or impair any rights or remedies of Landlord arising by virtue of such default. If the Lease or Tenant’s right to possession of the Premises shall terminate in any manner whatsoever before Tenant shall exercise the Extension Option,
or if Tenant shall have subleased or assigned all or any portion of the Premises, then immediately upon such termination, sublease or assignment, the Extension Option shall simultaneously terminate and become null and void. The Extension Option is
personal to Tenant. 
  

 C-2 

 EXHIBIT D 
 LEGAL DESCRIPTION 
 LOT 4, BLOCK 1, BASS CREEK
BUSINESS PARK 4TH ADDITION IN HENNEPIN COUNTY, MINNESOTA.

  

 D-1 

 EXHIBIT E 
 COMMENCEMENT DATE CONFIRMATION 
  

			
	Landlord:	  	Wells VAF – 6000 Nathan Lane, LLC
		
	Tenant:	  	Brocade Communications Systems, Inc.

 This Commencement Date Confirmation is made by Landlord and Tenant
pursuant to that certain Lease dated as of ______ ___, 200_ (the “Lease”) for certain premises known as Suite ____ in the building commonly known as 6000 Nathan Lane, Plymouth, MN (the “Premises”). This Confirmation is made
pursuant to Article 1 of the Lease. 
 1.         Lease Commencement
Date, Termination Date. Landlord and Tenant hereby agree that the Commencement Date of the Lease is May 1, 2010, and the Termination Date of the Lease is July 31, 2017. 
 2.         Acceptance of Premises. Tenant has inspected the Premises and
affirms that the Premises are acceptable in all respects in its current “as is” condition. 
 3.         Incorporation. This Confirmation is incorporated into the Lease, and forms an integral part thereof. This Confirmation shall be construed and interpreted in accordance with the terms
of the Lease for all purposes. 
  

									
	LANDLORD:	 		 	TENANT:
			
	 WELLS VAF – 6000 NATHAN LANE, LLC
 a Delaware limited liability company
	 		 	BROCADE COMMUNICATIONS SYSTEMS, INC.
					
	By:	 	 Wells Mid-Horizon Value-Added Fund I, LLC,
 a Georgia limited liability company a member
	 		 	By:	 	 
	  
 By:  Wells Investment Management Company, LLC a
Georgia limited liability company, its manager
	 		 	Its:	 	      

					
	By:	 	 	 		 		 	
	Its:	 	 	 		 		 	

  

 E-1 

 EXHIBIT F 
 EXERCISE FACILITY CONSENT AND WAIVER OF LIABILITY 
 In order to use the fitness facilities and equipment located at 6000 Nathan Lane, Plymouth, Minnesota (the “Building”), I hereby certify, covenant, and agree: 
 1.             I am in good physical condition and able to use the facilities
and equipment and to participate in any and all exercise and fitness activities available or to be available. I have a reasonable basis for this opinion due to examination and/or consultation with my physician. I fully recognize that I am
responsible for knowledge of my own state of health at all times. 
 2.             I will do all exercise and participate in all activities at my own pace and at my own risk. I will use good judgment while exercising, will not overexert, and will
follow any instructions concerning exercise procedures. If I have any questions regarding my workout, I will consult a trained professional. 
 3.             I acknowledge that the fitness facility is unstaffed. I understand and acknowledge that neither the owner of the Building
(“Owner”), nor the property management company (“Manager”), nor any of their agents, advisors or employees, represents that its employees, personnel or agents have expertise in diagnosing, examining or treating medical conditions
of any kind or in determining the effect of any specific exercise on such medical condition. 
 4.             I understand that in participating in one or more exercises or fitness activities at the facility, or in use of the equipment or the facility in any way, there is a
possibility of accidental or other physical injury or loss of my personal property. I agree to assume that risk of any such accident or injury or loss of property. I hereby release and discharge Owner and Manager, their respective officers, agents,
employees, personnel, partners, directors, shareholders, affiliates and other representatives, and their successors and assigns (collectively, the “Released Parties”), from any and all liability, harm and damage, and waive any and all
claims whatsoever, for any injury, accident or loss in connection with my use of or entry into the facility. In addition, I hereby agree to defend, indemnify and hold harmless the Released Parties from any and all costs, claims, liability, harm,
damage or expenses resulting from my use of or entry into the facility or the equipment. 
 5.             I acknowledge that I have received and read a copy of the current Rules and Regulations governing the use of the fitness center (a copy of which is attached hereto).
I agree that I will fully comply with all rules and regulations as they are amended from time to time. 
  

					
		  		 	USER:
			
	 	  		 	 
	Employer Name	  		 	Employee Name (Please Print)
			
	 	  		 	 
	Suite Number	  		 	Signature
			
	Telephone: _________________________	  		 	Date: ____________________________
			
	Access Key Number: ______________________	  		 	

  

 F-1 

 EXHIBIT G 
 INTENTIONALLY DELETED 
  

 G-1 

 EXHIBIT H 
 SUBORDINATION NON-DISTURBANCE AND ATTORNMENT AGREEMENT 
  

 H-1Amended and Restated Trust Agreement

 Exhibit 4.1 
 EXHIBIT 4.1 – AMENDED AND RESTATED TRUST AGREEMENT 
 [EXECUTION COPY]

 CARMAX AUTO FUNDING LLC, 
 as Depositor, 
 BNY MELLON TRUST OF DELAWARE, 
 as Delaware Trustee 
 and 
 THE BANK OF NEW YORK MELLON, 
 as Owner Trustee 
  
  
 AMENDED AND
RESTATED TRUST AGREEMENT 
 Dated as of November 1, 2009 
  
  
  

 TABLE OF CONTENTS 
  

					
	 	  	 	  	Page
	 ARTICLE I
 DEFINITIONS
	  	
			
	 SECTION 1.1
	  	Definitions	  	1
	 SECTION 1.2
	  	Other Definitional Provisions	  	4
	 ARTICLE II
 ORGANIZATION OF THE TRUST
	  	
			
	 SECTION 2.1
	  	Name	  	5
	 SECTION 2.2
	  	Office	  	5
	 SECTION 2.3
	  	Purposes and Powers	  	5
	 SECTION 2.4
	  	Appointment of Owner Trustee	  	6
	 SECTION 2.5
	  	Initial Capital Contribution of Owner Trust Estate	  	6
	 SECTION 2.6
	  	Declaration of Trust	  	6
	 SECTION 2.7
	  	Liability of Certificateholders	  	7
	 SECTION 2.8
	  	Title to Trust Property	  	7
	 SECTION 2.9
	  	Situs of Trust	  	7
	 SECTION 2.10
	  	Representations and Warranties of the Depositor	  	7
	 SECTION 2.11
	  	Federal Income Tax Matters	  	9
		
	 ARTICLE III
 CERTIFICATES AND TRANSFER OF INTERESTS
	  	
			
	 SECTION 3.1
	  	Initial Ownership	  	9
	 SECTION 3.2
	  	The Certificates	  	9
	 SECTION 3.3
	  	Authentication of Certificates	  	10
	 SECTION 3.4
	  	Registration of Certificates; Transfer and Exchange of Certificates	  	10
	 SECTION 3.5
	  	Mutilated, Destroyed, Lost or Stolen Certificates	  	12
	 SECTION 3.6
	  	Persons Deemed Owners	  	13
	 SECTION 3.7
	  	Access to List of Certificateholders’ Names and Addresses	  	13
	 SECTION 3.8
	  	Maintenance of Office or Agency	  	14
	 SECTION 3.9
	  	Appointment of Paying Agent	  	14
		
	 ARTICLE IV
 ACTIONS BY OWNER TRUSTEE
	  	
			
	 SECTION 4.1
	  	Prior Notice to Certificateholders with Respect to Certain Matters	  	14
	 SECTION 4.2
	  	Action by Certificateholders with Respect to Certain Matters	  	15
	 SECTION 4.3
	  	Action by Certificateholders with Respect to Bankruptcy	  	15
	 SECTION 4.4
	  	Restrictions on Certificateholders’ Power	  	15
	 SECTION 4.5
	  	Majority Control	  	16
	 SECTION 4.6
	  	Certain Litigation Matters	  	16

  

 i 

					
	 ARTICLE V
 APPLICATION OF TRUST FUNDS; CERTAIN DUTIES
	  	
			
	 SECTION 5.1
	  	Establishment of Certificate Payment Account	  	16
	 SECTION 5.2
	  	Application of Trust Funds	  	16
	 SECTION 5.3
	  	Method of Payment	  	17
	 SECTION 5.4
	  	No Segregation of Monies; No Interest	  	17
	 SECTION 5.5
	  	Accounting and Reports to the Noteholders, Certificateholders, the Internal Revenue Service and Others	  	17
	 SECTION 5.6
	  	Signature on Returns; Tax Matters Partner	  	18
		
	 ARTICLE VI
 AUTHORITY AND DUTIES OF OWNER TRUSTEE
	  	
			
	 SECTION 6.1
	  	General Authority	  	18
	 SECTION 6.2
	  	General Duties	  	19
	 SECTION 6.3
	  	Action upon Instruction	  	19
	 SECTION 6.4
	  	No Duties Except as Specified in this Agreement or in Instructions	  	20
	 SECTION 6.5
	  	No Action Except Under Specified Documents or Instructions	  	20
	 SECTION 6.6
	  	Restrictions	  	20
		
	 ARTICLE VII
 REGARDING THE OWNER TRUSTEE
	  	
			
	 SECTION 7.1
	  	Acceptance of Trusts and Duties	  	20
	 SECTION 7.2
	  	Furnishing of Documents	  	22
	 SECTION 7.3
	  	Representations and Warranties	  	22
	 SECTION 7.4
	  	Reliance; Advice of Counsel	  	23
	 SECTION 7.5
	  	Not Acting in Individual Capacity	  	24
	 SECTION 7.6
	  	Owner Trustee Not Liable for Certificates or Receivables	  	24
	 SECTION 7.7
	  	Owner Trustee May Own Certificates and Notes	  	24
		
	 ARTICLE VIII
 COMPENSATION AND INDEMNIFICATION OF OWNER TRUSTEE
	  	
			
	 SECTION 8.1
	  	Owner Trustee’s Fees and Expenses	  	24
	 SECTION 8.2
	  	Indemnification	  	25
	 SECTION 8.3
	  	Payments to the Owner Trustee	  	25
		
	 ARTICLE IX
 TERMINATION
	  	
			
	 SECTION 9.1
	  	Termination of Trust Agreement	  	25

  

 ii 

					
	 ARTICLE X
 SUCCESSOR OWNER TRUSTEES AND ADDITIONAL OWNER TRUSTEES
	  	
			
	 SECTION 10.1
	  	Eligibility Requirements for Owner Trustee and Delaware Trustee	  	26
	 SECTION 10.2
	  	Resignation or Removal of Owner Trustee	  	27
	 SECTION 10.3
	  	Successor Owner Trustee	  	27
	 SECTION 10.4
	  	Merger or Consolidation of Owner Trustee	  	28
	 SECTION 10.5
	  	Appointment of Co-Trustee or Separate Trustee	  	28
	 SECTION 10.6
	  	Delaware Trustee	  	30
		
	 ARTICLE XI
 MISCELLANEOUS
	  	
			
	 SECTION 11.1
	  	Supplements and Amendments	  	32
	 SECTION 11.2
	  	No Legal Title to Owner Trust Estate in Certificateholders	  	34
	 SECTION 11.3
	  	Limitation on Rights of Others	  	34
	 SECTION 11.4
	  	Notices	  	34
	 SECTION 11.5
	  	Severability	  	34
	 SECTION 11.6
	  	Separate Counterparts	  	35
	 SECTION 11.7
	  	Successors and Assigns	  	35
	 SECTION 11.8
	  	Covenants of the Depositor	  	35
	 SECTION 11.9
	  	No Petition	  	35
	 SECTION 11.10
	  	No Recourse	  	35
	 SECTION 11.11
	  	Headings	  	35
	 SECTION 11.12
	  	Governing Law	  	35
	 SECTION 11.13
	  	Depositor Payment Obligation	  	35
	 SECTION 11.14
	  	Certificates Nonassessable and Fully Paid	  	36
	 SECTION 11.15
	  	Ratification of Prior Actions	  	36
		
	EXHIBITS	  	
			
	 EXHIBIT A
	  	Form of Certificate	  	
	 EXHIBIT B
	  	Form of Certificate of Trust	  	

  

 iii 

 AMENDED AND RESTATED TRUST AGREEMENT, dated as of November 1, 2009 (as amended,
supplemented or otherwise modified and in effect from time to time, this “Agreement”), among CARMAX AUTO FUNDING LLC, a Delaware limited liability company, as depositor (the “Depositor”), BNY MELLON TRUST OF
DELAWARE, a Delaware banking corporation, as Delaware trustee and not in its individual capacity (in such capacity, the “Delaware Trustee”), and THE BANK OF NEW YORK MELLON, a New York banking corporation, as owner trustee and not
in its individual capacity (in such capacity, the “Owner Trustee”). 
 WHEREAS, the CarMax Auto Owner Trust
2009-2 was created on May 4, 2009 pursuant to (i) a Trust Agreement dated as of May 4, 2009 among the Depositor, the Delaware Trustee and the Owner Trustee (the “Initial Trust Agreement”) and (ii) the filing of a
certificate of trust with the Secretary of State of the State of Delaware on May 4, 2009; and 
 WHEREAS, the Depositor,
the Delaware Trustee and the Owner Trustee wish to amend and restate the Initial Trust Agreement on the terms and conditions hereinafter set forth; 
 NOW, THEREFORE, in consideration of the premises and mutual covenants herein contained and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the
Depositor, the Delaware Trustee and the Owner Trustee hereby agree as follows: 
 ARTICLE I 
 DEFINITIONS 
 SECTION 1.1 Definitions. Except as otherwise specified herein or as the context may otherwise require, the following terms shall have the respective meanings set forth below for all purposes of this Agreement. 
 “Accountants” shall have the meaning specified in Section 5.5. 
 “CarMax” shall mean CarMax Business Services, LLC, a Delaware limited liability company. 
 “CarMax Auto” shall mean CarMax Auto Superstores, Inc., a Virginia corporation. 
 “CarMax Funding” shall mean CarMax Auto Funding LLC, a Delaware limited liability company. 
 “Certificate” shall mean a physical certificate evidencing the beneficial interest of a Certificateholder in the Owner
Trust Estate, substantially in the form of Exhibit A. Such certificate shall entitle the Holder thereof to distributions pursuant to this Agreement from collections and other proceeds in respect of the Owner Trust Estate; provided,
however, that the Owner Trust Estate has been pledged to the Indenture Trustee to secure payment of the Notes and that the rights of the Certificateholders to receive distributions on the Certificates are subordinated to the rights of the
Noteholders as described in the Sale and Servicing Agreement and the Indenture. 

 “Certificate of Trust” shall mean the Certificate of Trust substantially in
the form of Exhibit B filed for the Trust pursuant to Section 3810(a) of the Statutory Trust Statute. 
 “Certificate Payment Account” shall have the meaning specified in Section 5.1. 
 “Certificate Percentage Interest” shall mean, with respect to a Certificate, the percentage specified on such Certificate as the Certificate Percentage Interest, which percentage represents the beneficial interest of such
Certificate in the Trust. The initial Certificate Percentage Interest held by the Depositor shall be 100%. 
 “Certificate Register” shall have the meaning specified in Section 3.4. 
 “Certificate
Registrar” shall have the meaning specified in Section 3.4. 
 “Code” shall mean the Internal
Revenue Code of 1986 and the Treasury Regulations promulgated thereunder. 
 “Corporate Trust Office” shall
mean the principal office of the Owner Trustee at which at any particular time its corporate trust business shall be administered, which office at date of execution of this Agreement is located at The Bank of New York Mellon, 101 Barclay Street, 4W,
New York, New York 10286, Attention: Corporate Trust Division, Asset Backed Securities Group, or at such other address as the Owner Trustee may designate from time to time by notice to the Certificateholders, the Indenture Trustee, the Depositor and
the Servicer, or the principal corporate trust office of any successor Owner Trustee at the address designated by such successor Owner Trustee by notice to the Certificateholders, the Indenture Trustee, the Depositor and the Servicer. 
 “Delaware Trustee” shall mean BNY Mellon Trust of Delaware, a Delaware banking corporation, not in its individual capacity
but solely as Delaware Trustee under this Agreement, and any successor Delaware Trustee under this Agreement. 
 “Depositor” shall mean CarMax Funding in its capacity as depositor under this Agreement. 
 “ERISA” shall mean the Employee Retirement Income Security Act of 1974, as amended. 
 “Exchange Act” shall mean the Securities Exchange Act of 1934, as amended. 
 “Expenses” shall have the meaning specified in Section 8.2. 
 “Final Distribution
Date” shall mean the May 2016 Distribution Date. 
 “HB3” shall mean Texas House Bill 3 (enrolled
May 19, 2006) and the corresponding sections of the Texas Tax Code, Title 2 and the rules and regulations promulgated thereunder. 
  

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 “Holder” or “Certificateholder” shall mean a Person in
whose name a Certificate is registered in the Certificate Register. 
 “Indemnified Parties” shall have the
meaning specified in Section 8.2. 
 “Indenture” shall mean the Indenture, dated as of November 1,
2009, between the Trust and the Indenture Trustee, as amended, supplemented or otherwise modified and in effect from time to time. 
 “Indenture Trustee” shall mean Wells Fargo Bank, National Association, a national banking association, not in its individual capacity but solely as Indenture Trustee under the Indenture, and any successor Indenture Trustee
under the Indenture. 
 “Owner Trust Estate” shall mean all right, title and interest of the Trust in, to and
under the property and rights assigned to the Trust pursuant to Section 2.1 of the Sale and Servicing Agreement. 
 “Owner Trustee” shall mean The Bank of New York Mellon, a New York banking corporation, not in its individual capacity but solely as Owner Trustee under this Agreement, and any successor Owner Trustee under this Agreement.

 “Paying Agent” shall mean the Owner Trustee or any successor paying agent or co-paying agent appointed
pursuant to Section 3.9 who is authorized by the Owner Trustee to make distributions from the Certificate Payment Account on behalf of the Trust. 
 “Plan” shall have the meaning specified in Section 3.4. 
 “Plan Asset Regulation” shall mean 29 C.F.R. Section 2510.3-101, as modified by Section 3(42) of ERISA, issued by the United States Department of Labor concerning the definition of what constitutes the assets of a
Plan with respect to such Plan’s investment in an entity for purposes of the fiduciary responsibility provisions of Title I of ERISA and Section 4975 of the Code. 
 “PTCE 95-60” shall have the meaning specified in Section 3.4. 
 “Rating Agency Condition” shall mean, with respect to any action, a condition that is satisfied if the person requesting
such action (A) delivers a letter from each Rating Agency to the Depositor, the Seller, the Servicer, the Indenture Trustee and the Owner Trustee to the effect that such action will not result in a reduction or withdrawal of the then-current
rating assigned by such Rating Agency to any Class of Notes or (B) provides ten (10) Business Days’ prior written notice of such action to each Rating Agency and such Rating Agency has not notified the Depositor, the Seller, the
Servicer, the Indenture Trustee and the Owner Trustee in writing that such action will result in a reduction or withdrawal of the then-current rating assigned by such Rating Agency to any Class of Notes. 
 “Record Date” shall mean, with respect to any Distribution Date, the close of business on the Business Day preceding such
Distribution Date. 
  

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 “Responsible Officer” shall mean (i) in the case of the Indenture
Trustee, any managing director, principal, vice president, assistant vice president, assistant secretary, assistant treasurer or trust officer of the Indenture Trustee or any other officer of the Indenture Trustee customarily performing functions
similar to those performed by any of the above designated officers and, with respect to a particular corporate trust matter, any other officer of the Indenture Trustee to whom such matter is referred because of such officer’s knowledge of and
familiarity with the particular subject and (ii) in the case of the Owner Trustee, any vice president, assistant vice president, assistant secretary, assistant treasurer, trust officer or financial services officer of the Owner Trustee or any
other officer of the Owner Trustee customarily performing functions similar to those performed by any of the above designated officers and with direct responsibility for the administration of the Trust and, with respect to a particular corporate
trust matter, any other officer of the Owner Trustee to whom such matter is referred because of such officer’s knowledge of and familiarity with the particular subject. 
 “Sale and Servicing Agreement” shall mean the Sale and Servicing Agreement, dated as of November 1, 2009, by and among
the Trust, the Depositor, the Servicer and Wells Fargo Bank, National Association, a national banking association, as Backup Servicer. 
 “Secretary of State” shall mean the Secretary of State of the State of Delaware. 
 “Securities Act” shall mean the Securities Act of 1933. 
 “Statutory Trust Statute”
shall mean Chapter 38 of Title 12 of the Delaware Code, 12 Del. Code section 3801 et seq. 
 “Transfer” shall
mean a sale, transfer, assignment, participation, pledge or other disposition of a Certificate. 
 “Treasury
Regulations” shall mean regulations, including proposed or temporary regulations, promulgated under the Code. All references herein to specific provisions of proposed or temporary Treasury Regulations shall include analogous provisions of
final Treasury Regulations or other successor Treasury Regulations. 
 “Trust” shall mean the CarMax Auto Owner
Trust 2009-2 created as a Delaware statutory trust pursuant to this Agreement and the filing of the Certificate of Trust. 
 SECTION 1.2 Other Definitional Provisions. 
 (a) Capitalized terms used herein and not otherwise defined
herein have the meanings assigned to them in the Sale and Servicing Agreement or, if not defined therein, in the Indenture. 
 (b) All terms defined in this Agreement shall have the defined meanings when used in any certificate or other document made or delivered pursuant hereto unless otherwise defined therein. 
  

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 (c) As used in this Agreement and in any certificate or other documents made or delivered
pursuant hereto or thereto, accounting terms not defined in this Agreement or in any such certificate or other document, and accounting terms partly defined in this Agreement or in any such certificate or other document to the extent not defined,
shall have the respective meanings assigned to them under generally accepted accounting principles. To the extent that the definitions of accounting terms in this Agreement or in any such certificate or other document are inconsistent with the
meanings of such terms under generally accepted accounting principles, the definitions contained in this Agreement or in any such certificate or other document shall control. 
 (d) The words “hereof,” “herein” and “hereunder” and words of similar import when used in this Agreement shall
refer to this Agreement as a whole and not to any particular provision of this Agreement. Article, Section and Exhibit references contained in this Agreement are references to Articles, Sections and Exhibits in or to this Agreement unless otherwise
specified. The term “including” shall mean “including without limitation.” 
 (e) The definitions contained
in this Agreement are applicable to the singular as well as the plural forms of such terms and to the masculine as well as to the feminine and neuter genders of such terms. 
 (f) Any agreement, instrument or statute defined or referred to herein or in any instrument or certificate delivered in connection herewith
means such agreement, instrument or statute as from time to time amended, modified or supplemented and includes (in the case of agreements or instruments) references to all attachments thereto and instruments incorporated therein. References to a
Person are also to its permitted successors and assigns. 
 ARTICLE II 
 ORGANIZATION OF THE TRUST 
 SECTION 2.1 Name. The
Trust shall be known as “CarMax Auto Owner Trust 2009-2,” in which name the Owner Trustee may conduct the business of the Trust, make and execute contracts and other instruments on behalf of the Trust and sue and be sued on behalf of the
Trust. 
 SECTION 2.2 Office. The office of the Trust shall be in care of the Owner Trustee at the Corporate Trust
Office or at such other address as the Owner Trustee may designate by written notice to the Certificateholders and the Depositor. 
 SECTION 2.3 Purposes and Powers. The purpose of the Trust is, and the Trust shall have the power and authority, to engage solely in the following activities: 
 (i) to issue the Notes pursuant to the Indenture and the Certificates pursuant to this Agreement, and to sell the Notes upon
the written order of the Depositor; 
 (ii) to use the proceeds of the sale of the Notes, at the direction of the
Depositor, to fund the Reserve Account, to pay the organizational, start-up and transactional expenses of the Trust and to pay the balance to the Depositor pursuant to the Sale and Servicing Agreement; 
  

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 (iii) to pay interest on and principal of the Notes and to pay Excess
Collections to the Certificateholders; 
 (iv) to assign, grant, transfer, pledge, mortgage and convey the Owner
Trust Estate (other than the Certificate Payment Account and the proceeds thereof) to the Indenture Trustee pursuant to the Indenture; 
 (v) to enter into and perform its obligations under the Transaction Documents to which it is to be a party; 
 (vi) subject to compliance with the Transaction Documents, to engage in such other activities as may be required in connection with conservation of the Owner Trust Estate and the making of distributions
to the Noteholders and the Certificateholders; and 
 (vii) to engage in those activities, including entering
into agreements, that are necessary, suitable or convenient to accomplish the foregoing or are incidental thereto or connected therewith. 
 The Trust is hereby authorized to engage in the foregoing activities. The Trust shall not engage in any activity other than in connection with the foregoing or other than as required or authorized by the
terms of this Agreement or the other Transaction Documents. 
 SECTION 2.4 Appointment of Owner Trustee. The
Depositor hereby appoints the Owner Trustee as trustee of the Trust effective as of the date hereof, to have all the rights, powers and duties set forth herein and in the Statutory Trust Statute. 
 SECTION 2.5 Initial Capital Contribution of Owner Trust Estate. The Depositor has sold, assigned, transferred, conveyed and set
over to the Owner Trustee the sum of $1,000. The Owner Trustee hereby acknowledges receipt in trust from the Depositor of such amount, which amount constituted the initial Owner Trust Estate and was deposited in the Certificate Payment Account. The
Depositor shall pay organizational expenses of the Trust as they may arise or shall, upon the request of the Owner Trustee, promptly reimburse the Owner Trustee for any such expenses paid by the Owner Trustee. 
 SECTION 2.6 Declaration of Trust. The Owner Trustee hereby declares that it will hold the Owner Trust Estate in trust upon and
subject to the conditions set forth herein for the use and benefit of the Certificateholders, subject to the obligations of the Trust under the Transaction Documents. It is the intention of the parties hereto that (i) the Trust constitute a
statutory trust under the Statutory Trust Statute and that this Agreement constitute the governing instrument of such statutory trust and (ii) solely for income and franchise tax purposes, the Trust shall be treated (A) if it has one
beneficial owner, as a non-entity and (B) if it has more than one beneficial owner, as a partnership, with the assets of the partnership being the Receivables and other assets held by the Trust, the partners of the partnership being the
Certificateholders and the Notes constituting indebtedness of the partnership. Unless otherwise required by the appropriate tax authorities, the Trust shall file or cause to be filed annual or other necessary returns, reports and other forms
consistent with the characterization of the Trust either as a nonentity or as a partnership for such tax purposes. Effective as of the date hereof, the Owner Trustee shall have 
  

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all rights, powers and duties set forth herein and in the Statutory Trust Statute with respect to accomplishing the purposes of the Trust. The parties have caused the filing of the Certificate of
Trust with the Secretary of State. If it is determined that, contrary to the intent of the parties hereto and the position of the Certificateholder, the Trust has “gross receipts” for purposes of HB3, it is the intention of the parties
hereto that the Trust be treated as a “passive entity” for purposes of HB3, formed to hold assets to facilitate securitization transactions in a manner similar to grantor trusts and real estate mortgage investment conduits as defined by
Section 860D of the Code. The Depositor, and the Certificateholders by acceptance of a Certificate, agree that if it is determined that, contrary to the intent of the parties hereto and the position of the Certificateholder, the Trust has
“gross receipts” for purposes of HB3, they will, unless otherwise required by law, treat the Trust as a “passive entity” for purposes of HB3 and will not, unless otherwise required by law, take any action to include the Trust as
part of an affiliated group engaged in a unitary business (as such terms are used in HB3). Notwithstanding anything to the contrary contained herein, nothing in this Agreement should be read to imply that the Trust is doing business in Texas or has
sufficient nexus with Texas in order for HB3 to apply to the Trust. 
 SECTION 2.7 Liability of Certificateholders.
The Certificateholders shall be entitled to the same limitation of personal liability extended to stockholders of private corporations organized under the general corporation law of the State of Delaware. 
 SECTION 2.8 Title to Trust Property. Legal title to the entirety of the Owner Trust Estate shall be vested at all times in the
Trust as a separate legal entity, except where applicable law in any jurisdiction requires title to any part of the Owner Trust Estate to be vested in a trustee or trustees, in which case title shall be deemed to be vested in the Owner Trustee, a
co-trustee and/or a separate trustee, as the case may be. 
 SECTION 2.9 Situs of Trust. The Trust shall be located
and administered in the State of Delaware or the State of New York. All bank accounts maintained by the Owner Trustee on behalf of the Trust shall be located in the State of Delaware or the State of New York. The Trust shall not have any employees
in any State other than the State of Delaware; provided, however, that nothing herein shall restrict or prohibit the Owner Trustee from having employees within or without the State of Delaware. Payments will be received by the Trust
only in the State of Delaware or the State of New York, and payments will be made by the Trust only from the State of Delaware or the State of New York. The principal office of the Trust will be at the Corporate Trust Office in the State of New
York. 
 SECTION 2.10 Representations and Warranties of the Depositor. The Depositor hereby represents and warrants
to the Owner Trustee that: 
 (i) the Depositor has been duly organized and is validly existing as a limited
liability company in good standing under the laws of the State of Delaware, has the power, authority and legal right to own its properties and to conduct its business as such properties are currently owned and such business is currently conducted,
and has the power, authority and legal right to acquire, own and sell the Receivables; 
  

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 (ii) the Depositor is duly qualified to do business as a foreign limited
liability company in good standing and has obtained all necessary licenses and approvals in each jurisdiction in which the failure to so qualify or to obtain such licenses and approvals would materially and adversely affect the performance by the
Depositor of its obligations under, or the validity or enforceability of, this Agreement, any of the other Transaction Documents to which the Depositor is a party, the Receivables, the Notes or the Certificates; 
 (iii) the Depositor has the power and authority to execute, deliver and perform its obligations under this Agreement and the
other Transaction Documents to which it is a party, and the Depositor has the power and authority to sell, assign, transfer and convey the property to be sold and transferred to and deposited with the Trust and has duly authorized such transfer and
deposit by all necessary limited liability company action, and the execution, delivery and performance of this Agreement and the other Transaction Documents to which the Depositor is a party have been duly authorized by the Depositor by all
necessary limited liability company action; 
 (iv) the execution, delivery and performance by the Depositor of
this Agreement and the other Transaction Documents to which the Depositor is a party, the consummation of the transactions contemplated hereby and thereby and the fulfillment of the terms hereof and thereof will not conflict with, result in a breach
of any of the terms and provisions of or constitute (with or without notice or lapse of time or both) a default under the certificate of formation or limited liability company agreement of the Depositor or any material indenture, agreement,
mortgage, deed of trust or other instrument to which the Depositor is a party or by which the Depositor is bound or to which any of its properties are subject, or result in the creation or imposition of any lien upon any of its properties pursuant
to the terms of any such indenture, agreement, mortgage, deed of trust or other instrument (other than pursuant to this Agreement), or violate any law, order, rule or regulation applicable to the Depositor or its properties of any federal or State
regulatory body, court, administrative agency or other governmental instrumentality having jurisdiction over the Depositor or any of its properties; 
 (v) there are no proceedings or investigations pending or, to the knowledge of the Depositor, threatened against the Depositor before any court, regulatory body, administrative agency or other
governmental instrumentality having jurisdiction over the Depositor or its properties (A) asserting the invalidity of this Agreement, the Sale and Servicing Agreement, the Indenture, any of the other Transaction Documents, the Notes or the
Certificates, (B) seeking to prevent the issuance of the Notes or the Certificates or the consummation of any of the transactions contemplated by this Agreement, the Sale and Servicing Agreement, the Indenture or any of the other Transaction
Documents, (C) seeking any determination or ruling that would materially and adversely affect the performance by the Depositor of its obligations under, or the validity or enforceability of, this Agreement, the Sale and Servicing Agreement, the
Indenture, any of the other Transaction Documents, the Receivables, the Notes or the Certificates, or (D) that would adversely affect the federal tax attributes or Applicable Tax State franchise or income tax attributes of the Trust or of the
Notes or the Certificates; and 
  

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 (vi) the representations and warranties of the Depositor in Section 3.1
of the Receivables Purchase Agreement are true and correct. 
 SECTION 2.11 Federal Income Tax Matters. The
Certificateholders acknowledge that it is their intent and that they understand it is the intent of the Depositor and the Servicer that, for purposes of federal income, State and local income and franchise tax and any other income taxes, the Trust
will be treated either as a disregarded entity under Treasury Regulation Section 301.7701-3 or as a partnership, and that the Certificateholders will be treated as partners in that partnership. The Certificateholders by acceptance of a
Certificate agree to such treatment and agree to take no action inconsistent with such treatment. For each calendar quarter, other than periods in which there is only one Certificateholder: 
 (i) net income of the Trust for any calendar quarter as determined for federal income tax purposes (and each item of income,
gain, credit, loss or deduction entering into the computation thereof) shall be allocated among the Certificateholders as of the first day following the end of such quarter in proportion to their Certificate Percentage Interest on such date; and

 (ii) net losses of the Trust, if any, for any calendar quarter as determined for federal income tax purposes
(and each item of income, gain, credit, loss or deduction entering into the computation thereof) shall be allocated among the Certificateholders as of the first day following the end of such quarter in proportion to their Certificate Percentage
Interest on such date. 
 The Certificateholders are authorized to modify the allocations in this Section 2.11 if necessary
or appropriate, in their sole discretion, for the allocations to reflect fairly the economic income, gain, credit, loss or deduction to the Certificateholders or as otherwise required by the Code. 
 ARTICLE III 
 CERTIFICATES AND TRANSFER OF INTERESTS 
 SECTION 3.1 Initial Ownership. Upon the formation of the Trust by
the contribution by the Depositor pursuant to Section 2.5 and until the issuance of the Certificates, the Depositor shall be the sole beneficiary of the Trust. 
 SECTION 3.2 The Certificates. The Certificates shall be issued in one or more registered, definitive, physical certificates, substantially in the form set forth in Exhibit A. The Certificates
may be in printed or typewritten form and shall be executed on behalf of the Trust by manual or facsimile signature of an Authorized Officer of the Owner Trustee. Certificates bearing the manual or facsimile signatures of individuals who were, at
the time when such signatures shall have been affixed, authorized to sign on behalf of the Trust, shall be validly issued and entitled to the benefits of this Agreement, notwithstanding that such individuals or any of them shall have ceased to be so
authorized prior to the authentication and delivery of such Certificates or did not hold such offices at the date of authentication and delivery of such Certificates. 
  

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 If Transfer of the Certificates is permitted pursuant to this Section 3.2 and
Section 3.4, a transferee of a Certificate shall become a Certificateholder, and shall be entitled to the rights and subject to the obligations of a Certificateholder hereunder upon such transferee’s acceptance of a Certificate duly
registered in such transferee’s name pursuant to Section 3.4. 
 SECTION 3.3 Authentication of
Certificates. Concurrently with the initial sale of the Receivables to the Trust pursuant to the Sale and Servicing Agreement, the Owner Trustee shall cause the Certificates to be executed on behalf of the Trust, authenticated and delivered to
or upon the written order of the Depositor, signed by its president, any vice president, any assistant vice president, its treasurer, any assistant treasurer, its secretary or any assistant secretary, without further limited liability company action
by the Depositor. No Certificate shall entitle its Holder to any benefit under this Agreement, or shall be valid for any purpose, unless there shall appear on such Certificate a certificate of authentication substantially in the form set forth in
Exhibit A executed by the Owner Trustee by manual signature, which authentication shall constitute conclusive evidence that such Certificate shall have been duly authenticated and delivered hereunder. All Certificates shall be dated the date of
their authentication. Upon issuance, authentication and delivery pursuant to the terms hereof, the Certificates will be entitled to the benefits of this Agreement. 
 SECTION 3.4 Registration of Certificates; Transfer and Exchange of Certificates. 
 (a) The Owner Trustee initially shall be the registrar (the “Certificate Registrar”) for the purpose of registering Certificates and Transfers of Certificates as herein provided. The
Certificate Registrar shall cause to be kept, at the office or agency maintained pursuant to Section 3.8, a register (the “Certificate Register”) in which, subject to such reasonable regulations as it may prescribe, the
Certificate Registrar shall provide for the registration of Certificates and the registration of Transfers of Certificates. Upon any resignation of any Certificate Registrar, the Owner Trustee shall, upon receipt of written instructions from the
Depositor, promptly appoint a successor. 
 (b) The Certificates may not be acquired by or for the account of (i) an
employee benefit plan (as defined in Section 3(3) of ERISA) that is subject to the provisions of Title I of ERISA, (ii) a plan described in Section 4975(e)(1) of the Code or (iii) any entity whose underlying assets include plan
assets by reason of a plan’s investment in the entity (each, a “Plan”). Each Certificateholder, by its acceptance of a Certificate, shall be deemed to have represented and warranted that such Certificateholder (A) is not a
Plan and is not a Person acting on behalf of a Plan or a Person using the assets of a Plan to effect the transfer of such Certificate, and (B) is not an insurance company purchasing a Certificate with funds contained in an “insurance
company general account” (as defined in Section V(e) of Prohibited Transaction Class Exemption 95-60 (“PTCE 95-60”)) that includes the assets of a Plan for purposes of the Plan Asset Regulation. 
 Any person who is not an affiliate of the Seller and acquires more than 49.9% of the Certificates will be deemed to represent that it is not
a party in interest (within the meaning of ERISA) or a disqualified person (within the meaning of Section 4975(e)(2) of the Code) with respect to any Plan, other than a Plan that it sponsors for the benefit of its employees, and that no Plan
with respect to which it is a party in interest has or will acquire any interest in the Notes. 
  

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 To the extent permitted under applicable law (including, but not limited to, ERISA), neither
the Owner Trustee nor the Certificate Registrar shall be under any liability to any Person for any registration of transfer of any Certificate that is in fact not permitted or for taking any other action with respect to such Certificate under the
provisions of this Agreement so long as such transfer was registered by the Owner Trustee or the Certificate Registrar in accordance with this Agreement. 
 (c) Upon surrender for registration of Transfer of any Certificate at the office or agency of the Certificate Registrar to be maintained as provided in Section 3.8, and upon compliance with any
provisions of this Agreement relating to such Transfer, the Owner Trustee shall execute on behalf of the Trust and the Owner Trustee shall authenticate and deliver to the Certificateholder making such surrender, in the name of the designated
transferee or transferees, one or more new Certificates in any authorized denomination evidencing the same aggregate interest in the Trust. Each Certificate presented or surrendered for registration of Transfer or exchange shall be accompanied by a
written instrument of transfer and accompanied by IRS Form W-8 BEN, W-8 ECI or W-9, as applicable, in form satisfactory to the Owner Trustee and the Certificate Registrar, duly executed by the Certificateholder or his attorney duly authorized in
writing. Each Certificate presented or surrendered for registration of Transfer or exchange shall be canceled and subsequently disposed of by the Certificate Registrar in accordance with its customary practice. No service charge shall be made for
any registration of Transfer or exchange of Certificates, but the Owner Trustee or the Certificate Registrar may require payment of a sum sufficient to cover any tax or governmental charge that may be imposed in connection with any Transfer or
exchange of Certificates. 
 (d) As a condition to the registration of any Transfer of any Certificate, the prospective
transferee shall be required to represent in writing to the Owner Trustee, the Depositor and the Certificate Registrar that: 
 (i) it has neither acquired nor will it transfer any Certificate it purchases (or any interest therein) or cause any such Certificate (or any interest therein) to be marketed on or through an
“established securities market” within the meaning of Section 7704(b)(1) of the Code, including, without limitation, an over-the-counter-market or an interdealer quotation system that regularly disseminates firm buy or sell
quotations; 
 (ii) it either (A) is not, and will not become, a partnership, Subchapter S corporation or
grantor trust for United States federal income tax purposes or (B) is such an entity, but none of the direct or indirect beneficial owners of any of the interests in such transferee have allowed or caused, or will allow or cause, 50% or more
(or such other percentage as the transferor may establish prior to the time of such proposed transfer) of the value of such interests to be attributable to such transferee’s ownership of Certificates; and 
  

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 (iii) it is not a Plan and is not a Person acting on behalf of a Plan or a
Person using the assets of a Plan to effect the transfer of such Certificate, and (B) is not an insurance company purchasing a Certificate with funds contained in an “insurance company general account” (as defined in Section V(e) of
PTCE 95-60) that includes the assets of a Plan for purposes of the Plan Asset Regulation. 
 (e) No Certificateholder shall
Transfer any Certificate initially held by it unless such Transfer is made pursuant to an effective registration statement or otherwise in accordance with the requirements under the Securities Act and effective registration or qualification under
applicable State securities laws, or is made in a transaction which does not require such registration or qualification. If a Transfer is to be made in reliance upon an exemption from the Securities Act and under applicable State securities laws,
(i) the Certificate Registrar may require an Opinion of Counsel reasonably satisfactory to the Certificate Registrar and the Depositor substantially to the effect that such Transfer may be made pursuant to an exemption from the Securities Act
and applicable State securities laws and describing the applicable exemption and the basis therefor, which Opinion of Counsel shall not be an expense of the Certificate Registrar, the Depositor or the Owner Trustee, and (ii) the Certificate
Registrar may require the transferee to execute a certification acceptable to and in form and substance satisfactory to the Certificate Registrar and the Depositor setting forth the facts surrounding such Transfer. 
 (f) No Transfer of any Certificate shall be permitted, recognized or recorded unless the Depositor has consented in writing to such
Transfer, which consent may be withheld in the sole discretion of the Depositor; provided, however, that no such consent of the Depositor shall be required where the proposed transferee is, and at the time of such Transfer will be, a
Certificateholder. 
 SECTION 3.5 Mutilated, Destroyed, Lost or Stolen Certificates. 
 (a) If (i) any mutilated Certificate is surrendered to the Certificate Registrar, or the Certificate Registrar receives evidence to its
satisfaction of the destruction, loss or theft of any Certificate, and (ii) there is delivered to the Certificate Registrar and the Owner Trustee such security or indemnity as may be required by them to hold each of the Trust, the Certificate
Registrar and the Owner Trustee harmless, then, in the absence of notice to the Trust, the Certificate Registrar or the Owner Trustee that such Certificate has been acquired by a “protected purchaser” (as defined in the Relevant UCC), the
Owner Trustee shall execute on behalf of the Trust and the Owner Trustee shall authenticate and deliver, in exchange for, or in lieu of, any such mutilated, destroyed, lost or stolen Certificate, as the case may be, a replacement Certificate, as the
case may be, of like tenor and Certificate Percentage Interest. If, after the delivery of such replacement Certificate or payment of a destroyed, lost or stolen Certificate pursuant to the proviso to the preceding sentence, a “protected
purchaser” (as defined in the Relevant UCC) of the original Certificate in lieu of which such replacement Certificate was issued presents for payment such original Certificate, the Trust and the Owner Trustee shall be entitled to recover such
replacement Certificate (or such payment) from the Person to whom such replacement Certificate was delivered or any Person taking such replacement Certificate from such Person to whom such replacement Certificate was delivered or any assignee of
such Person, except a “protected purchaser” (as defined in the Relevant UCC), and shall be entitled to recover upon the security or indemnity provided therefor to the extent of any loss, damage, cost or expense incurred by the Trust or the
Owner Trustee in connection therewith. 
  

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 (b) Upon the issuance of any replacement Certificate under this Section, the Trust may
require the payment by the Holder of such Certificate of a sum sufficient to cover any tax or other governmental charge that may be imposed in connection with such issuance and any other reasonable expenses (including the fees and expenses of the
Owner Trustee) related thereto. 
 (c) Every replacement Certificate issued pursuant to this Section in replacement of any
mutilated, destroyed, lost or stolen Certificate shall constitute an original additional contractual obligation of the Trust, whether or not the mutilated, destroyed, lost or stolen Certificate shall be at any time enforceable by anyone, and shall
be entitled to all the benefits of this Agreement equally and proportionately with any and all other Certificates duly issued hereunder. 
 (d) The provisions of this Section are exclusive and shall preclude (to the extent lawful) all other rights and remedies with respect to the replacement or payment of mutilated, destroyed, lost or stolen
Certificates. 
 SECTION 3.6 Persons Deemed Owners. Prior to due presentation of a Certificate for registration of
transfer, the Owner Trustee, the Certificate Registrar and any Paying Agent may treat the Person in whose name such Certificate is registered in the Certificate Register (as of the day of determination) as the owner of such Certificate for the
purpose of receiving distributions pursuant to Section 5.2 and for all other purposes whatsoever, and none of the Owner Trustee, the Certificate Registrar or any Paying Agent shall be bound by any notice to the contrary. 
 SECTION 3.7 Access to List of Certificateholders’ Names and Addresses. The Certificate Registrar shall furnish or cause to
be furnished to the Servicer and the Depositor, or to the Indenture Trustee or the Owner Trustee, within fifteen (15) days after receipt by the Certificate Registrar of a written request therefor from the Servicer, the Depositor or the
Indenture Trustee or the Owner Trustee, as the case may be, a list, in such form as the requesting party may reasonably require, of the names and addresses of the Certificateholders as of the most recent Record Date. If three or more
Certificateholders or one or more Holders of Certificates evidencing not less than 25% of the aggregate Certificate Percentage Interest apply in writing to the Certificate Registrar, and such application states that the applicants desire to
communicate with other Certificateholders with respect to their rights under this Agreement or under the Certificates and such application is accompanied by a copy of the communication that such applicants propose to transmit, then the Certificate
Registrar shall, within five (5) Business Days after the receipt of such application, afford such applicants access during normal business hours to the current list of Certificateholders. Each Certificateholder, by receiving and holding a
Certificate, shall be deemed to have agreed not to hold any of the Depositor, the Certificate Registrar or the Owner Trustee accountable by reason of the disclosure of its name and address, regardless of the source from which such information was
derived. 
  

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 SECTION 3.8 Maintenance of Office or Agency. The Certificate Registrar shall maintain
in the Borough of Manhattan, The City of New York, an office or offices or agency or agencies where Certificates may be surrendered for registration of Transfer or exchange and where notices and demands to or upon the Certificate Registrar in
respect of the Certificates and the Transaction Documents may be served. The Certificate Registrar shall give prompt written notice to the Depositor, the Owner Trustee and the Certificateholders of any change in the location of the Certificate
Registrar or any such office or agency. 
 SECTION 3.9 Appointment of Paying Agent. The Paying Agent shall make
distributions to Certificateholders from the Certificate Payment Account pursuant to Section 5.2 and shall report the amounts of such distributions to the Owner Trustee. Any Paying Agent shall have the revocable power to withdraw funds from the
Certificate Payment Account for the purpose of making the distributions referred to above. The Owner Trustee may revoke such power and remove the Paying Agent if the Owner Trustee determines in its sole discretion that the Paying Agent shall have
failed to perform its obligations under this Agreement in any material respect. The Paying Agent shall initially be the Owner Trustee and any co-paying agent chosen by the Owner Trustee. The Owner Trustee shall be permitted to resign as Paying Agent
upon thirty (30) days’ written notice to the Depositor. In the event that the Owner Trustee shall no longer be the Paying Agent, the Owner Trustee, upon receipt of written instructions from the Depositor, shall appoint a successor to act
as Paying Agent (which shall be a bank or trust company). The Owner Trustee shall direct such successor Paying Agent or any additional Paying Agent appointed by the Owner Trustee to execute and deliver to the Owner Trustee an instrument in which
such successor Paying Agent or additional Paying Agent shall agree with the Owner Trustee that as Paying Agent, such successor Paying Agent or additional Paying Agent will hold all sums, if any, held by it for payment to the Certificateholders in
trust for the benefit of the Certificateholders entitled thereto until such sums shall be paid to such Certificateholders. The Paying Agent shall return all unclaimed funds to the Owner Trustee and upon removal of a Paying Agent such Paying Agent
shall also return all funds in its possession to the Owner Trustee. The provisions of Sections 7.1, 7.3 and 8.1 shall apply to the Owner Trustee also in its role as Paying Agent, for so long as the Owner Trustee shall act as Paying Agent and, to the
extent applicable, to any other paying agent appointed hereunder. Any reference in this Agreement to the Paying Agent shall include any co-paying agent unless the context requires otherwise. 
 ARTICLE IV 
 ACTIONS BY OWNER TRUSTEE 
 SECTION 4.1 Prior Notice to Certificateholders with Respect to Certain Matters. With respect to the following matters, the Owner
Trustee shall not take action unless (i) at least thirty (30) days before the taking of such action, the Owner Trustee shall have notified the Certificateholders and the Rating Agencies in writing of the proposed action and (ii) the
Holders of Certificates evidencing not less than 51% of the aggregate Certificate Percentage Interest shall not have notified the Owner Trustee in writing prior to the 30th day after such notice is given that the Holders have withheld consent or
provided alternative direction: 
 (i) the initiation of any claim or lawsuit by the Trust (except claims or
lawsuits brought by the Servicer in connection with the collection of the Receivables) and the settlement of any action, proceeding, investigation, claim or lawsuit brought by or against the Trust (except with respect to the aforementioned claims or
lawsuits for collection by the Servicer of the Receivables); 
  

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 (ii) the election by the Trust to file an amendment to the Certificate of
Trust (unless such amendment is required to be filed under the Statutory Trust Statute); 
 (iii) the amendment
of the Indenture by a supplemental indenture in circumstances where the consent of any Noteholder is required; 
 (iv) the amendment of the Indenture by a supplemental indenture in circumstances where the consent of any Noteholder is not required and such amendment materially adversely affects the interests of the Certificateholders; 
 (v) the amendment, change or modification of the Sale and Servicing Agreement or the Administration Agreement, except to cure
any ambiguity or to amend or supplement any provision in a manner or add any provision that would not materially adversely affect the interests of the Certificateholders; or 
 (vi) the appointment pursuant to the Indenture of a successor Note Registrar, Paying Agent for the Notes or Indenture Trustee
or pursuant to this Agreement of a successor Certificate Registrar, or the consent to the assignment by the Note Registrar, Paying Agent for the Notes or Indenture Trustee or Certificate Registrar of its obligations under the Indenture or this
Agreement, as applicable. 
 SECTION 4.2 Action by Certificateholders with Respect to Certain Matters. The Owner
Trustee may not, except upon the occurrence of an Event of Servicing Termination subsequent to the payment in full of the Notes and in accordance with the written direction of the Holders of Certificates evidencing not less than 51% of the aggregate
Certificate Percentage Interest, (i) remove the Servicer pursuant to Article VIII of the Sale and Servicing Agreement, (ii) appoint a successor Servicer other than the Backup Servicer pursuant to Article VIII of the Sale and Servicing
Agreement, (iii) remove the Administrator pursuant to Section 9 of the Administration Agreement, (iv) appoint a successor Administrator pursuant to Section 9 of the Administration Agreement or (v) sell the Receivables after
the termination of the Indenture, except as expressly provided in the Transaction Documents. 
 SECTION 4.3 Action by
Certificateholders with Respect to Bankruptcy. The Owner Trustee shall not have the power to commence a voluntary proceeding in bankruptcy relating to the Trust unless (i) the Notes have been paid in full and (ii) each
Certificateholder approves of such commencement in writing in advance and delivers to the Owner Trustee a certificate certifying that such Person reasonably believes that the Trust is insolvent. 
 SECTION 4.4 Restrictions on Certificateholders’ Power. The Certificateholders shall not direct the Owner Trustee to take or
refrain from taking any action if such action or inaction would be contrary to any obligation of the Trust or the Owner Trustee under this Agreement or any of the other Transaction Documents or would be contrary to Section 2.3, nor shall the
Owner Trustee be obligated to follow any such direction, if given. 
  

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 SECTION 4.5 Majority Control. Except as expressly provided herein, any action that
may be taken by the Certificateholders under this Agreement may be taken by the Holders of Certificates evidencing not less than 51% of the aggregate Certificate Percentage Interest. Except as expressly provided herein, any written notice of the
Certificateholders delivered pursuant to this Agreement shall be effective if signed by the Holders of Certificates evidencing not less than 51% of the aggregate Certificate Percentage Interest at the time of the delivery of such notice. 

SECTION 4.6 Certain Litigation Matters. The Owner Trustee and the Delaware Trustee shall provide prompt written notice to the
Depositor, the Seller and the Servicer of any action, proceeding or investigation known to the Owner Trustee or the Delaware Trustee that could reasonably be expected to adversely affect the Trust or the Owner Trust Estate. 
 ARTICLE V 
 APPLICATION OF TRUST FUNDS; CERTAIN DUTIES 
 SECTION 5.1 Establishment of Certificate Payment Account.
Pursuant to Section 4.1(c) of the Sale and Servicing Agreement, the Servicer has agreed to establish, on or before the Closing Date, and maintain in the name of the Owner Trustee at an Eligible Institution (which shall initially be the Owner
Trustee) a segregated trust account designated as the “CarMax Auto Owner Trust 2009-2 Trust Account” (the “Certificate Payment Account”). The Certificate Payment Account shall be held in trust for the benefit of the
Certificateholders. Except as expressly provided in Section 3.9, the Certificate Payment Account shall be under the sole dominion and control of the Owner Trustee. All monies deposited from time to time in the Certificate Payment Account
pursuant to the Sale and Servicing Agreement or the Indenture shall be applied as provided in this Agreement, the Sale and Servicing Agreement and the Indenture. 
 SECTION 5.2 Application of Trust Funds. 
 (a) On each Distribution
Date, upon receipt of written instructions from the Servicer pursuant to Section 4.6(d) of the Sale and Servicing Agreement, the Owner Trustee shall, or, if the Owner Trustee is not the Paying Agent, shall direct the Paying Agent to, distribute
to the Certificateholders, in proportion to each Certificateholder’s Certificate Percentage Interest, amounts deposited in the Certificate Payment Account on such Distribution Date pursuant to Section 4.1(c) of the Sale and Servicing
Agreement and Section 2.8 of the Indenture with respect to such Distribution Date. 
 (b) On each Distribution Date, the
Owner Trustee shall, or, if the Owner Trustee is not the Paying Agent, the Owner Trustee shall direct the Paying Agent to, send to each Certificateholder the statement provided to the Owner Trustee by the Servicer pursuant to Section 4.9 of the
Sale and Servicing Agreement with respect to such Distribution Date. 
 (c) In the event that any withholding tax is imposed on
any Trust payment (or any allocation of income) to a Certificateholder, such tax shall reduce the amount otherwise distributable to the Certificateholder in accordance with this Section 5.2. The Owner Trustee and

  

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each Paying Agent are hereby authorized and directed to retain from amounts otherwise distributable to the Certificateholders sufficient funds for the payment of any such withholding tax that is
legally owed by the Trust (but such authorization shall not prevent the Owner Trustee from contesting any such tax in appropriate proceedings, and withholding payment of such tax, if permitted by law, pending the outcome of such proceedings). The
amount of any withholding tax imposed with respect to a Certificateholder shall be treated as cash distributed to such Certificateholder at the time it is withheld by the Trust and remitted to the appropriate taxing authority. If there is a
possibility that withholding tax is payable with respect to a distribution (such as a distribution to a non-U.S. Certificateholder), the Owner Trustee may withhold such amounts in accordance with this Section 5.2. If a Certificateholder wishes
to apply for a refund of any such withholding tax, the Owner Trustee shall reasonably cooperate with such Certificateholder in making such claim so long as such Certificateholder agrees to reimburse the Owner Trustee for any out-of-pocket expenses
incurred. 
 SECTION 5.3 Method of Payment. Subject to Section 9.1(c), distributions required to be made to
Certificateholders on any Distribution Date shall be made to each Certificateholder of record on the preceding Record Date either by wire transfer, in immediately available funds, to the account of such Holder at a bank or other entity having
appropriate facilities therefor, if such Certificateholder shall have provided to the Certificate Registrar and the Paying Agent appropriate written instructions at least five (5) Business Days prior to such Distribution Date and such
Certificateholder is the Depositor or, if not, by check mailed to such Certificateholder at the address of such Holder appearing in the Certificate Register. Notwithstanding the foregoing, the final distribution in respect of any Certificate
(whether on the Final Distribution Date or otherwise) will be payable only upon presentation and surrender of such Certificate at the office or agency maintained for that purpose by the Certificate Registrar pursuant to Section 3.8. 

SECTION 5.4 No Segregation of Monies; No Interest. Subject to Sections 5.1 and 5.2, monies received by the Owner Trustee
hereunder need not be segregated in any manner except to the extent required by law, the Indenture or the Sale and Servicing Agreement and may be deposited under such general conditions as may be prescribed by law, and the Owner Trustee shall not be
liable for any interest thereon. 
 SECTION 5.5 Accounting and Reports to the Noteholders, Certificateholders, the
Internal Revenue Service and Others. The Owner Trustee shall, based on information provided by the Seller, (i) maintain (or cause to be maintained) the books of the Trust on the basis of a fiscal year ending December 31 and based on
the accrual method of accounting, (ii) deliver to each Certificateholder, as may be required by the Code and applicable Treasury Regulations, such information as may be required (including Schedule K-1) to enable such Certificateholder to
prepare its federal and State income tax returns, (iii) file such tax returns relating to the Trust (including a partnership information return, IRS Form 1065) and make such elections as may from time to time be required or appropriate under
any applicable State or federal statute or rule or regulation thereunder so as to maintain the Trust’s characterization as a partnership for federal income tax purposes, (iv) cause such tax returns to be signed in the manner required by
law and (v) collect or cause to be collected any withholding tax as described in and in accordance with Section 5.2(c) with respect to income or distributions to Certificateholders. The Owner Trustee, on behalf of the Trust, shall elect
under Section 1278 of the Code to include in income currently any market discount that accrues with respect to the Receivables. The Owner Trustee, on behalf of the Trust, shall not make the election provided under Section 754 of the Code.

  

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 The Owner Trustee may satisfy its obligations with respect to this Section 5.5 by
retaining, at the expense of the Seller, a firm of independent public accountants (the “Accountants”) selected by the Seller. The Owner Trustee may require the Accountants to provide to the Owner Trustee, on or before March 15,
2010, a letter in form and substance satisfactory to the Owner Trustee as to whether any federal tax withholding on Certificates is then required and, if required, the procedures to be followed with respect thereto to comply with the requirements of
the Code. The Accountants shall be required to update such letter in each instance that any additional tax withholding is subsequently required or any previously required tax withholding shall no longer be required. The Owner Trustee shall be deemed
to have discharged its obligations pursuant to this Section 5.5 upon its retention of the Accountants, and the Owner Trustee shall not have any liability with respect to the default or misconduct of the Accountants. 
 SECTION 5.6 Signature on Returns; Tax Matters Partner. 
 (a) The Owner Trustee shall sign, on behalf of the Trust, the tax returns of the Trust. 
 (b) The Depositor, as a Certificateholder, shall be designated the “tax matters partner” of the Trust pursuant to
Section 6231(a)(7)(A) of the Code and applicable Treasury Regulations. 
 ARTICLE VI 
 AUTHORITY AND DUTIES OF OWNER TRUSTEE 
 SECTION 6.1 General Authority. The Owner Trustee is authorized and directed to execute and deliver the Transaction Documents to which the Trust is to be a party and each certificate or other
document attached as an exhibit to or contemplated by the Transaction Documents to which the Trust is to be a party, in each case in such form as the Depositor shall approve, as evidenced conclusively by the Owner Trustee’s execution thereof
and the Depositor’s execution of this Agreement, and to direct the Indenture Trustee to authenticate and deliver Notes in the aggregate principal amount of $591,000,000 (comprised of $111,000,000 in aggregate principal amount of Class A-1
Notes, $149,000,000 in aggregate principal amount of Class A-2 Notes, $190,000,000 in aggregate principal amount of Class A-3 Notes, $88,500,000 in aggregate principal amount of Class A-4 Notes, $42,000,000 in aggregate principal
amount of Class B Notes and $10,500,000 in aggregate principal amount of Class C Notes). In addition to the foregoing, the Owner Trustee is authorized to take all actions required of the Trust pursuant to the Transaction Documents. The Owner Trustee
is further authorized from time to time to take such action on behalf of the Trust as is permitted by the Transaction Documents and which the Certificateholders, the Servicer or the Administrator recommends in writing with respect to the Transaction
Documents, except to the extent that this Agreement expressly requires the consent of Certificateholders for such action. 
  

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 SECTION 6.2 General Duties. It shall be the duty of the Owner Trustee to discharge
(or cause to be discharged) all of its responsibilities pursuant to the terms of this Agreement and to administer the Trust for the benefit of the Certificateholders, subject to the lien of the Indenture and in accordance with the provisions of this
Agreement. Notwithstanding the foregoing, the Owner Trustee shall be deemed to have discharged (or caused to be discharged) its duties and responsibilities hereunder to the extent the Administrator is required in the Administration Agreement to
perform any act or to discharge such duty of the Owner Trustee or the Trust hereunder or under any other Transaction Document, and the Owner Trustee shall not be held liable for the default or failure of the Administrator to carry out its
obligations under the Administration Agreement. 
 SECTION 6.3 Action upon Instruction. 
 (a) Subject to Article IV, and in accordance with the terms of the Transaction Documents, the Certificateholders may, by written
instruction, direct the Owner Trustee in the management of the Trust. 
 (b) The Owner Trustee shall not be required to take any
action under this Agreement or any other Transaction Document if the Owner Trustee shall have reasonably determined, or shall have been advised by counsel, that such action is likely to result in liability on the part of the Owner Trustee or is
contrary to the terms of this Agreement or any other Transaction Document or is otherwise contrary to law. 
 (c) Subject to
Article IV, whenever the Owner Trustee is unable to decide between alternative courses of action permitted or required by the terms of this Agreement or any other Transaction Document, the Owner Trustee shall promptly give notice (in such form as
shall be appropriate under the circumstances) to the Certificateholders requesting instruction as to the course of action to be adopted, and to the extent the Owner Trustee acts in good faith in accordance with any written instruction of the
Certificateholders received, the Owner Trustee shall not be liable on account of such action to any Person. If the Owner Trustee shall not have received appropriate written instruction within ten (10) days of such notice (or within such shorter
period of time as reasonably may be specified in such notice or may be necessary under the circumstances) it may, but shall be under no duty to, take or refrain from taking such action, not inconsistent with this Agreement or the other Transaction
Documents, as it shall deem to be in the best interests of the Certificateholders, and shall have no liability to any Person for such action or inaction. 
 (d) Subject to Article IV, in the event the Owner Trustee is unsure as to the application of any provision of this Agreement or any other Transaction Document or any such provision is ambiguous as to its
application, or is, or appears to be, in conflict with any other applicable provision, or in the event that this Agreement permits any determination by the Owner Trustee or is silent or is incomplete as to the course of action that the Owner Trustee
is required to take with respect to a particular set of facts, the Owner Trustee may give notice (in such form as shall be appropriate under the circumstances) to the Certificateholders requesting instruction and, to the extent that the Owner
Trustee acts or refrains from acting in good faith in accordance with any such instruction received, the Owner Trustee shall not be liable, on account of such action or inaction, to any Person. If the Owner Trustee shall not have received
appropriate

  

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written instruction within ten (10) days of such notice (or within such shorter period of time as reasonably may be specified in such notice or may be necessary under the circumstances) it
may, but shall be under no duty to, take or refrain from taking such action not inconsistent with this Agreement or the other Transaction Documents, as it shall deem to be in the best interests of the Certificateholders and shall have no liability
to any Person for such action or inaction. 
 SECTION 6.4 No Duties Except as Specified in this Agreement or in
Instructions. The Owner Trustee shall not have any duty or obligation to manage, make any payment with respect to, register, record, sell, dispose of or otherwise deal with the Owner Trust Estate, or to otherwise take or refrain from taking any
action under, or in connection with, any document contemplated hereby to which the Owner Trustee or the Trust is a party, except as expressly provided by the terms of this Agreement or in any document or written instruction received by the Owner
Trustee pursuant to Section 6.3, and no implied duties or obligations shall be read into this Agreement or any other Transaction Document against the Owner Trustee. The Owner Trustee shall have no responsibility for filing any financing or
continuation statement in any public office at any time or otherwise to perfect or maintain the perfection of any security interest or lien granted to it hereunder or to prepare or file any Commission filing for the Trust or to record this Agreement
or any other Transaction Document. The Owner Trustee shall, however, at its own cost and expense, promptly take all action as may be necessary to discharge any lien (other than the lien of the Indenture) on any part of the Owner Trust Estate that
results from actions by, or claims against, the Owner Trustee in its individual capacity that are not related to the ownership or the administration of the Owner Trust Estate. 
 SECTION 6.5 No Action Except Under Specified Documents or Instructions. The Owner Trustee shall not manage, control, use, sell,
dispose of or otherwise deal with any part of the Owner Trust Estate except (i) in accordance with the powers granted to and the authority conferred upon the Owner Trustee pursuant to this Agreement, (ii) in accordance with the other
Transaction Documents to which the Trust is a party and (iii) in accordance with any document or written instruction delivered to the Owner Trustee pursuant to Section 6.3. 
 SECTION 6.6 Restrictions. The Owner Trustee shall not take any action (i) that is inconsistent with the purposes of the
Trust set forth in Section 2.3 or (ii) that, to the actual knowledge of the Owner Trustee, would (A) affect the treatment of the Notes as indebtedness for federal income or Virginia income or franchise tax purposes, (B) be deemed
to cause a taxable exchange of the Notes for federal income or Virginia income or franchise tax purposes or (C) cause the Trust or any portion thereof to be taxable as an association or publicly traded partnership taxable as a corporation for
federal income or Virginia income or franchise tax purposes. The Certificateholders, the Depositor, the Administrator and the Servicer shall not direct the Owner Trustee to take action that would violate the provisions of this Section 6.6.

 ARTICLE VII 
 REGARDING THE OWNER TRUSTEE 
 SECTION 7.1 Acceptance of Trusts and Duties. The Owner Trustee accepts the
trusts hereby created and agrees to perform its duties hereunder with respect to such trusts but only upon the terms of this Agreement. The Owner Trustee also agrees to disburse all monies actually received by it constituting part of the Owner Trust
Estate upon the terms of this 
  

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Agreement. The Owner Trustee shall not be answerable or accountable hereunder or under any other Transaction Document under any circumstances, except (i) for its own willful misconduct, bad
faith or negligence or (ii) in the case of the inaccuracy of any representation or warranty contained in Section 7.3 expressly made by the Owner Trustee, in its individual capacity. In particular, but not by way of limitation (and subject
to the exceptions set forth in the preceding sentence): 
 (i) the Owner Trustee shall not be liable for any
error of judgment made in good faith by a responsible officer of the Owner Trustee unless it is proved that the Owner Trustee was negligent in ascertaining the pertinent facts; 
 (ii) the Owner Trustee shall not be liable with respect to any action taken or omitted to be taken in good faith by it in
accordance with the provisions of this Agreement at the instructions of any Certificateholder, the Indenture Trustee, the Depositor, the Administrator or the Servicer; 
 (iii) no provision of this Agreement or any other Transaction Document shall require the Owner Trustee to expend or risk its
own funds or otherwise incur financial liability in the performance of any of its duties hereunder or in the exercise of any of its rights or powers hereunder or under any other Transaction Document if the Owner Trustee shall have reasonable grounds
to believe that repayment of such funds or adequate indemnity against such risk or liability is not reasonably assured or provided to it; 
 (iv) the Owner Trustee shall not be liable for any indebtedness evidenced by or arising under any of the Transaction Documents, including the principal of and interest on the Notes or payments of Excess
Collections to the Certificateholders; 
 (v) the Owner Trustee shall not be responsible for or in respect of the
validity or sufficiency of this Agreement or for the due execution hereof by the Depositor or for the form, character, genuineness, sufficiency, value or validity of any of the Owner Trust Estate or for or in respect of the validity or sufficiency
of the other Transaction Documents, other than the certificate of authentication on the Certificates, and the Owner Trustee shall in no event assume or incur any liability, duty, or obligation to any Noteholder or to any Certificateholder, other
than as expressly provided for herein and in the other Transaction Documents; 
 (vi) the Owner Trustee shall not
be liable for the default or misconduct of the Servicer, the Backup Servicer, the Administrator, the Depositor or the Indenture Trustee under any of the Transaction Documents or otherwise, and the Owner Trustee shall have no obligation or liability
to perform the obligations of the Trust under this Agreement or the other Transaction Documents that are required to be performed by the Administrator under the Administration Agreement, the Servicer or the Backup Servicer under the Sale and
Servicing Agreement or the Indenture Trustee under the Indenture; 
  

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 (vii) the Owner Trustee shall be under no obligation to exercise any of the
rights or powers vested in it by this Agreement, or to institute, conduct or defend any litigation under this Agreement or otherwise or in relation to this Agreement or any other Transaction Document, at the request, order or direction of any of the
Certificateholders, unless such Certificateholders have offered to the Owner Trustee security or indemnity satisfactory to it against the costs, expenses and liabilities that may be incurred by the Owner Trustee therein or thereby; 
 (viii) the right of the Owner Trustee to perform any discretionary act enumerated in this Agreement or any other Transaction
Document shall not be construed as a duty, and the Owner Trustee shall not be answerable other than for its willful misconduct, bad faith or negligence in the performance of any such act; 
 (ix) in no event shall the Owner Trustee be personally liable (A) for special, consequential or punitive damages,
(B) for the acts or omissions of clearing agencies or securities depositories or any of their respective nominees or correspondents, (C) for acts or omissions of brokers or dealers or (D) for any losses due to forces beyond the
control of the Owner Trustee, including strikes, work stoppages, acts of war or terrorism, insurrection, revolution, nuclear or natural catastrophes or acts of God and interruptions, loss or malfunctions of utilities, communications or computer
(software and hardware) services provided by third parties selected by the Owner Trustee with reasonable care; 
 (x) the Owner Trustee shall have no responsibility for the accuracy of any information provided to Certificateholders or any other person that has been obtained from, or provided to the Owner Trustee by, any other Person; and 
 (xi) the Owner Trustee shall not be liable for any failure to anticipate incurring Expenses (as defined in Section 8.2)
as long as the Owner Trustee acts in good faith based on the facts reasonably available to it at the time of such determination. 
 SECTION 7.2 Furnishing of Documents. The Owner Trustee shall furnish to the Certificateholders promptly upon receipt of a written request therefor, duplicates or copies of all reports, notices, requests, demands, certificates,
financial statements and any other instruments furnished to the Owner Trustee under the Transaction Documents. 
 SECTION 7.3 Representations and Warranties. 
 (a) The Delaware Trustee, in its individual capacity, hereby
represents and warrants to the Depositor, for the benefit of the Certificateholders, that: 
 (i) it is a
Delaware banking corporation duly organized and validly existing in good standing under the laws of the State of Delaware and has all requisite power and authority to execute, deliver and perform its obligations under this Agreement; 
 (ii) it has taken all action necessary to authorize the execution and delivery by it of this Agreement, and this Agreement
will be executed and delivered by one of its officers who is duly authorized to execute and deliver this Agreement on its behalf; and 
  

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 (iii) neither the execution nor the delivery by it of this Agreement, nor
the consummation by it of the transactions contemplated hereby nor compliance by it with any of the terms or provisions hereof will contravene any federal or Delaware law, governmental rule or regulation governing the banking or trust powers of the
Delaware Trustee or any judgment or order binding on it, or constitute any default under its charter documents or by-laws or any indenture, mortgage, contract, agreement or instrument to which it is a party or by which any of its properties may be
bound. 
 (b) The Owner Trustee, in its individual capacity, hereby represents and warrants to the Depositor, for the benefit of
the Certificateholders, that: 
 (i) it is a New York banking corporation duly organized and validly existing in
good standing under the laws of the State of New York and has all requisite power and authority to execute, deliver and perform its obligations under this Agreement; 
 (ii) it has taken all action necessary to authorize the execution and delivery by it of this Agreement, and this Agreement
will be executed and delivered by one of its officers who is duly authorized to execute and deliver this Agreement on its behalf; and 
 (iii) neither the execution nor the delivery by it of this Agreement, nor the consummation by it of the transactions contemplated hereby nor compliance by it with any of the terms or provisions hereof
will contravene any federal or New York law, governmental rule or regulation governing the banking or trust powers of the Owner Trustee or any judgment or order binding on it, or constitute any default under its charter documents or by-laws or any
indenture, mortgage, contract, agreement or instrument to which it is a party or by which any of its properties may be bound. 
 SECTION 7.4 Reliance; Advice of Counsel. 
 (a) The Owner Trustee may rely upon, shall be protected in
relying upon, and shall incur no liability to anyone in acting upon any signature, instrument, notice, resolution, request, consent, order, certificate, report, opinion, bond or other document or paper believed by it to be genuine and believed by it
to be signed by the proper party or parties. The Owner Trustee may accept a certified copy of a resolution of the board of directors or other governing body of any corporate party as conclusive evidence that such resolution has been duly adopted by
such body and that the same is in full force and effect. As to any fact or matter the method of the determination of which is not specifically prescribed herein, the Owner Trustee may for all purposes hereof rely on a certificate, signed by the
president or any vice president or by the treasurer or other authorized officers of the relevant party, as to such fact or matter and such certificate shall constitute full protection to the Owner Trustee for any action taken or omitted to be taken
by it in good faith in reliance thereon. 
 (b) In the exercise or administration of the trusts hereunder and in the performance
of its duties and obligations under this Agreement or the other Transaction Documents, the Owner Trustee (i) may act directly or through its agents or attorneys pursuant to agreements entered into with any of them, and the Owner Trustee shall
not be liable for the conduct or misconduct of such agents or attorneys if such agents or attorneys shall have been

  

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selected by the Owner Trustee with reasonable care and (ii) may consult with counsel, accountants and other skilled Persons to be selected with reasonable care and employed by it. The Owner
Trustee shall not be liable for anything done, suffered or omitted in good faith by it in accordance with the written opinion or advice of any such counsel, accountants or other such Persons and not contrary to this Agreement or any other
Transaction Document. 
 SECTION 7.5 Not Acting in Individual Capacity. Except as provided in Section 7.3, in
accepting the trusts hereby created, The Bank of New York Mellon acts solely as Owner Trustee hereunder and not in its individual capacity, and all Persons having any claim against the Owner Trustee by reason of the transactions contemplated by this
Agreement or any other Transaction Document shall look only to the Owner Trust Estate for payment or satisfaction thereof. 
 SECTION 7.6 Owner Trustee Not Liable for Certificates or Receivables. The recitals contained herein and in the Certificates (other than the signature and countersignature of the Owner Trustee on the Certificates) shall be taken
as the statements of the Depositor, and the Owner Trustee assumes no responsibility for the correctness thereof. The Owner Trustee makes no representations as to the validity or sufficiency of this Agreement, any other Transaction Document, the
Certificates (other than the signature and countersignature of the Owner Trustee on the Certificates) or the Notes, or of any Receivable or related documents. The Owner Trustee shall at no time have any responsibility or liability for or with
respect to the legality, validity and enforceability of any Receivable, or the perfection and priority of any security interest created by any Receivable in any Financed Vehicle or the maintenance of any such perfection and priority, or for or with
respect to the sufficiency of the Owner Trust Estate or its ability to generate the payments to be distributed to the Certificateholders under this Agreement or to the Noteholders under the Indenture, including the existence, condition and ownership
of any Financed Vehicle, the existence and enforceability of any insurance thereon, the existence and contents of any Receivable on any computer or other record thereof, the validity of the assignment of any Receivable to the Trust or any
intervening assignment, the completeness of any Receivable, the performance or enforcement of any Receivable, the compliance by the Depositor or the Servicer with any warranty or representation made under any Transaction Document or in any related
document, or the accuracy of any such warranty or representation or any action of the Indenture Trustee, the Administrator or the Servicer taken in the name of the Owner Trustee. 
 SECTION 7.7 Owner Trustee May Own Certificates and Notes. The Owner Trustee, in its individual or any other capacity, may become
the owner or pledgee of Certificates or Notes and may deal with the Depositor, the Servicer, the Administrator and the Indenture Trustee in banking transactions with the same rights as it would have if it were not Owner Trustee. 
 ARTICLE VIII 
 COMPENSATION AND INDEMNIFICATION OF OWNER TRUSTEE 
 SECTION 8.1 Owner Trustee’s Fees and Expenses.
Each of the Owner Trustee and the Delaware Trustee shall receive as compensation for its services hereunder such fees as have been separately agreed upon before the date hereof between the Servicer and such trustee, and each of the Owner Trustee and
the Delaware Trustee shall be reimbursed by the 
  

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Servicer for its other reasonable expenses hereunder, including the reasonable compensation, expenses and disbursements of such agents, representatives, experts and counsel as such trustee may
employ in connection with the exercise and performance of its rights and its duties hereunder. 
 SECTION 8.2
Indemnification. To the fullest extent permitted by applicable law, the initial Servicer shall be liable as prime obligor for, and shall indemnify each of the Owner Trustee and the Delaware Trustee and its successors, assigns, agents and
servants (collectively, the “Indemnified Parties”) from and against, any and all liabilities, obligations, losses, damages, taxes, claims, actions and suits, and any and all reasonable costs, expenses and disbursements (including
reasonable legal fees and expenses) of any kind and nature whatsoever (collectively, “Expenses”) which may at any time be imposed on, incurred by, or asserted against the Owner Trustee, the Delaware Trustee or any other Indemnified
Party in any way relating to or arising out of this Agreement, the other Transaction Documents, the Owner Trust Estate, the administration of the Owner Trust Estate or the action or inaction of the Owner Trustee or the Delaware Trustee hereunder;
provided, however, that the initial Servicer shall not be liable for or required to indemnify an Indemnified Party from and against Expenses arising or resulting from any of the matters described in the third sentence of
Section 7.1. In no event will the initial Servicer, the Owner Trustee or the Delaware Trustee be entitled to make any claim upon the Owner Trust Estate for the payment or reimbursement of any Expenses. The indemnities contained in this
Section 8.2 shall survive the resignation or termination of the Owner Trustee and the Delaware Trustee or the termination of this Agreement. In the event of any claim, action or proceeding for which indemnity will be sought pursuant to this
Section 8.2, the Owner Trustee’s and the Delaware Trustee’s choice of legal counsel shall be subject to the approval of the initial Servicer, which approval shall not be unreasonably withheld. 
 SECTION 8.3 Payments to the Owner Trustee. Any amounts paid to the Owner Trustee or the Delaware Trustee pursuant to this
Article VIII shall be deemed not to be a part of the Owner Trust Estate immediately after such payment. 
 ARTICLE IX 

TERMINATION 
 SECTION 9.1 Termination of Trust Agreement. 
 (a) This Agreement (other than the provisions of Article
VIII) shall terminate and be of no further force or effect and the Trust shall dissolve upon the earlier of (i) the payment to the Servicer, the Noteholders and the Certificateholders of all amounts required to be paid to them pursuant to the
terms of the Indenture, the Sale and Servicing Agreement and Article V and (ii) the Distribution Date next succeeding the month which is one year after the maturity or other liquidation of the last Receivable and the disposition of any amounts
received upon liquidation of any property remaining in the Trust. The bankruptcy, liquidation, dissolution, death or incapacity of any Certificateholder shall not operate to terminate this Agreement or the Trust, entitle such
Certificateholder’s legal representatives or heirs to claim an accounting or to take any action or proceeding in any court for a partition or winding up of all or any part of the Trust or Owner Trust Estate or otherwise affect the rights,
obligations and liabilities of the parties hereto. 
  

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 (b) No Certificateholder shall be entitled to revoke or terminate the Trust. 
 (c) Notice of any termination of the Trust, specifying the Distribution Date upon which the Certificateholders shall surrender their
Certificates to the Paying Agent for payment of the final distribution and cancellation, shall be given by the Owner Trustee by letter to Certificateholders mailed within five (5) Business Days of receipt of notice of such termination from the
Servicer, stating (i) the Distribution Date upon or with respect to which final payment of the Certificates shall be made upon presentation and surrender of the Certificates at the office of the Paying Agent therein specified, (ii) the
amount of any such final payment and (iii) that the Record Date otherwise applicable to such Distribution Date is not applicable, payments being made only upon presentation and surrender of the Certificates at the office of the Paying Agent
therein specified. The Owner Trustee shall give such notice to the Certificate Registrar (if other than the Owner Trustee) and the Paying Agent at the time such notice is given to Certificateholders. Upon presentation and surrender of the
Certificates, the Paying Agent shall cause to be distributed to the Certificateholders, subject to Section 3808 of the Statutory Trust Statute, amounts distributable on such Distribution Date pursuant to Section 5.2. In the event that all
of the Certificateholders shall not surrender their Certificates for cancellation within six (6) months after the date specified in the above mentioned written notice, the Owner Trustee shall give a second written notice to the remaining
Certificateholders to surrender their Certificates for cancellation and receive the final distribution with respect thereto. If within one year after the second notice all the Certificates shall not have been surrendered for cancellation, the Owner
Trustee may take appropriate steps, or may appoint an agent to take appropriate steps, to contact the remaining Certificateholders concerning surrender of their Certificates and the cost thereof shall be paid out of the funds and other assets that
shall remain subject to this Agreement. Subject to applicable escheat laws, any funds remaining in the Trust after exhaustion of such remedies shall be distributed by the Owner Trustee to the Certificateholders in proportion to each
Certificateholder’s Certificate Percentage Interest. 
 (d) Upon the winding up of the Trust, in accordance with
Section 3808 of the Statutory Trust Statute, and its termination, the Owner Trustee shall cause the Certificate of Trust to be canceled by filing a certificate of cancellation with the Secretary of State in accordance with the provisions of
Section 3810 of the Statutory Trust Statute. 
 ARTICLE X 
 SUCCESSOR OWNER TRUSTEES AND ADDITIONAL OWNER TRUSTEES 
 SECTION 10.1 Eligibility Requirements for Owner Trustee and Delaware Trustee. The Owner Trustee shall at all times (i) be authorized to exercise corporate trust powers, (ii) have a combined capital and surplus of at
least $50,000,000 and be subject to supervision or examination by federal or State authorities and (iii) have (or have a parent that has) a long-term debt rating of investment grade by each of the Rating Agencies or otherwise be acceptable to
each of the Rating Agencies. The Delaware Trustee shall at all times (i) be a corporation or banking association satisfying the provisions of Section 3807(a) of the Statutory Trust Statute, (ii) be authorized to exercise corporate
trust powers, (iii) have a combined capital and surplus of at least $50,000,000 and be subject to supervision or examination by federal or State authorities and (iv) have (or have a parent that has) a long term debt rating of investment
grade by each of the Rating Agencies or otherwise be acceptable to each of the Rating Agencies. 
  

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If such corporation or banking association shall publish reports of condition at least annually, pursuant to law or to the requirements of the aforesaid supervising or examining authority, then
for the purpose of this Section 10.1 the combined capital and surplus of such corporation or banking association shall be deemed to be its combined capital and surplus as set forth in its most recent report of condition so published. If at any
time the Owner Trustee shall cease to be eligible in accordance with the provisions of this Section 10.1, the Owner Trustee shall resign immediately in the manner and with the effect specified in Section 10.2. 
 SECTION 10.2 Resignation or Removal of Owner Trustee. The Owner Trustee may at any time resign and be discharged from the trusts
hereby created by giving written notice thereof to the Administrator and the Depositor. Upon receiving such notice of resignation, the Administrator shall promptly appoint a successor Owner Trustee (acceptable to the Depositor) by written
instrument, in duplicate, one copy of which instrument shall be delivered to the resigning Owner Trustee and one copy to the successor Owner Trustee. If no successor Owner Trustee shall have been so appointed and have accepted appointment within
thirty (30) days after the giving of such notice of resignation, the resigning Owner Trustee may petition any court of competent jurisdiction for the appointment of a successor Owner Trustee. 
 If at any time the Owner Trustee shall cease to be eligible in accordance with the provisions of Section 10.1 and shall fail to resign
after written request therefor by the Administrator, or if at any time the Owner Trustee shall be legally unable to act, or shall be adjudged bankrupt or insolvent, or a receiver of the Owner Trustee or of its property shall be appointed, or any
public officer shall take charge or control of the Owner Trustee or of its property or affairs for the purpose of rehabilitation, conservation or liquidation, or the Owner Trustee shall otherwise become incapable of acting, then the Administrator
may remove the Owner Trustee. If the Administrator shall remove the Owner Trustee under the authority of the immediately preceding sentence, the Administrator shall promptly appoint a successor Owner Trustee (acceptable to the Depositor) by written
instrument, in duplicate, one copy of which instrument shall be delivered to the removed Owner Trustee and one copy to the successor Owner Trustee. 
 Any resignation or removal of the Owner Trustee and appointment of a successor Owner Trustee pursuant to this Section 10.2 shall not become effective until acceptance of appointment by the successor
Owner Trustee pursuant to Section 10.3 and payment of all fees and expenses owed to the outgoing Owner Trustee. The Administrator shall provide notice of such resignation or removal of the Owner Trustee to the Depositor, the Certificateholders,
the Indenture Trustee, the Noteholders and the Rating Agencies. 
 SECTION 10.3 Successor Owner Trustee. Any
successor Owner Trustee appointed pursuant to Section 10.2 shall execute, acknowledge and deliver to the Administrator and to its predecessor Owner Trustee an instrument accepting such appointment under this Agreement, and thereupon, subject to
the payment of all fees and expenses owed to the predecessor Owner Trustee, the resignation or removal of the predecessor Owner Trustee shall become effective and such successor Owner Trustee, without any further act, deed or conveyance, shall
become fully vested with all the rights, powers, duties and obligations of its predecessor under this Agreement, with like effect as if originally named as Owner Trustee. The predecessor Owner Trustee shall, upon payment of its fees and expenses,
deliver to the successor 
  

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Owner Trustee all documents, statements and monies held by it under this Agreement, and the Administrator and the predecessor Owner Trustee shall execute and deliver such instruments and do such
other things as may reasonably be required for fully and certainly vesting and confirming in the successor Owner Trustee all such rights, powers, duties and obligations. 
 No successor Owner Trustee shall accept appointment as provided in this Section 10.3 unless, at the time of such acceptance, such successor Owner Trustee shall be eligible pursuant to
Section 10.1. 
 Any successor Owner Trustee appointed pursuant to this Section 10.3 shall file an amendment to the
Certificate of Trust with the Secretary of State reflecting the name and principal place of business of such successor in the State of Delaware. 
 Upon acceptance of appointment by a successor Owner Trustee pursuant to this Section 10.3, the Administrator shall mail notice of such appointment to all Certificateholders, the Indenture Trustee,
the Noteholders and the Rating Agencies. If the Administrator shall fail to mail such notice within ten (10) days after acceptance of appointment by the successor Owner Trustee, the successor Owner Trustee shall cause such notice to be mailed
at the expense of the Administrator. 
 SECTION 10.4 Merger or Consolidation of Owner Trustee. 
 (a) If the Owner Trustee consolidates with, merges or converts into, or transfers all or substantially all its corporate trust business or
assets to, another corporation or banking association, the resulting, surviving or transferee corporation or banking association without any further act, except the filing of an amendment to the Certificate of Trust, if required under the Statutory
Trust Statute, shall be the successor Owner Trustee; provided, however, that such corporation or banking association must be otherwise qualified and eligible under Section 10.1. The Owner Trustee shall provide the Rating Agencies
with prior written notice of any such transaction. 
 (b) If at the time such successor or successors by consolidation, merger
or conversion to the Owner Trustee shall succeed to the trusts created by this Agreement any of the Certificates shall have been authenticated but not delivered, any such successor to the Owner Trustee may adopt the certificate of authentication of
any predecessor trustee and deliver such Certificates so authenticated, and in case at that time any of the Certificates shall not have been authenticated, any such successor to the Owner Trustee may authenticate such Certificates either in the name
of any predecessor trustee or in the name of the successor to the Owner Trustee. In all such cases such certificates shall have the full force which the Certificates or this Agreement provide that the certificate of the Owner Trustee shall have.

 SECTION 10.5 Appointment of Co-Trustee or Separate Trustee. 
 (a) Notwithstanding any other provisions of this Agreement to the contrary, at any time, for the purpose of meeting any legal requirement of
any jurisdiction in which any part of the Owner Trust Estate or any Financed Vehicle may at the time be located, the Administrator and the Owner Trustee acting jointly shall have the power and may execute and deliver an instrument to appoint one or
more Persons approved by the Owner Trustee to act as co-trustee or

  

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co-trustees, jointly with the Owner Trustee, or separate trustee or separate trustees, of all or any part of the Owner Trust Estate, and to vest in such Person or Persons, in such capacity and
for the benefit of the Certificateholders, such title to the Owner Trust Estate, or any part thereof, and, subject to the other provisions of this Section 10.5, such powers, duties, obligations, rights and trusts as the Administrator and the
Owner Trustee may consider necessary or desirable. If the Administrator shall not have joined in such appointment within fifteen (15) days after the receipt by it of a request so to do, the Owner Trustee alone shall have the power to make such
appointment. No co-trustee or separate trustee under this Agreement shall be required to meet the terms of eligibility as a successor trustee under Section 10.1 and no notice of the appointment of any co-trustee or separate trustee shall be
required under Section 10.3. 
 (b) Each separate trustee and co-trustee shall, to the extent permitted by law, be
appointed and act subject to the following provisions and conditions: 
 (i) all rights, powers, duties and
obligations conferred or imposed upon the Owner Trustee shall be conferred or imposed upon and exercised or performed by the Owner Trustee and such separate trustee or co-trustee jointly (it being understood that such separate trustee or co-trustee
shall not be authorized to act separately without the Owner Trustee joining in such act), except to the extent that under any law of any jurisdiction in which any particular act or acts are to be performed the Owner Trustee shall be incompetent or
unqualified to perform such act or acts, in which event such rights, powers, duties and obligations (including the holding of title to the Owner Trust Estate or any portion thereof in any such jurisdiction) shall be exercised and performed singly by
such separate trustee or co-trustee, but solely at the direction of the Owner Trustee; 
 (ii) no trustee under
this Agreement shall be personally liable by reason of any act or omission of any other trustee under this Agreement; and 
 (iii) the Administrator and the Owner Trustee acting jointly may at any time accept the resignation of or remove any separate trustee or co-trustee. 
 (c) Any notice, request or other writing given to the Owner Trustee shall be deemed to have been given to each of the then separate trustees
and co-trustees as effectively as if given to each of them. Every instrument appointing any separate trustee or co-trustee shall refer to this Agreement and the conditions of this Article X. Each separate trustee and co-trustee, upon its acceptance
of the trusts conferred, shall be vested with the estates or property specified in its instrument of appointment, either jointly with the Owner Trustee or separately, as may be provided therein, subject to all the provisions of this Agreement,
specifically including every provision of this Agreement relating to the conduct of, affecting the liability of, or affording protection to, the Owner Trustee. Each such instrument shall be filed with the Owner Trustee and a copy thereof given to
the Administrator. 
 (d) Any separate trustee or co-trustee may at any time constitute the Owner Trustee its agent or
attorney-in-fact with full power and authority, to the extent permitted by law, to do any lawful act under or in respect of this Agreement on its behalf and in its name. If any separate trustee or co-trustee shall die, become incapable of acting,
resign or be removed, all of its estates, properties, rights, remedies and trusts shall vest in and be exercised by the Owner Trustee, to the extent permitted by law, without the appointment of a new or successor trustee. 
  

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 SECTION 10.6 Delaware Trustee. 
 (a) The Delaware Trustee has been appointed solely for the purpose of complying with the requirements of the Statutory Trust Statute that
the Trust have one trustee, which, in the case of a natural person, is a resident of the State of Delaware, or which in all other cases, has its principal place of business in the State of Delaware. The duties and responsibilities of the Delaware
Trustee shall be limited solely to (i) accepting legal process served on the Trust in the State of Delaware, (ii) the execution and delivery of all documents, and the maintenance of all records, necessary to form and maintain the existence
of the Trust under the Statutory Trust Statute and (iii) monitoring the Trust’s compliance with the Statutory Trust Statute and advising the Administrator when action is necessary to comply with the Statutory Trust Statute. Except for the
purpose set forth in the foregoing sentence, the Delaware Trustee shall not be deemed a trustee of, shall have no management responsibilities with respect to or owe any fiduciary duties to the Trust or the Certificateholders. 
 (b) By its execution hereof, the Delaware Trustee accepts the trust created herein. Except as otherwise expressly required by clause
(a) above, the Delaware Trustee shall not have any duty or liability with respect to the administration of the Trust, the investment of any of the Trust Property or the payment of dividends or other distributions of income or principal with
respect to the Trust. 
 (c) The Delaware Trustee shall not be liable for the acts or omissions of the Owner Trustee or the
Administrator, nor shall the Delaware Trustee be liable for supervising or monitoring the performance of the duties and obligations of the Owner Trustee or the Trust under this Agreement. The Delaware Trustee shall not be answerable or accountable
hereunder or under any other Transaction Document under any circumstances, except (x) for its own willful misconduct, bad faith or negligence or (y) in the case of the inaccuracy of any representation or warranty contained in
Section 7.3 expressly made by the Delaware Trustee, in its individual capacity. In particular, but not by way of limitation (and subject to the exceptions set forth in the preceding sentence): 
 (i) the Delaware Trustee shall not be liable for any error of judgment made in good faith by a responsible officer of the
Delaware Trustee unless it is proved that the Delaware Trustee was negligent in ascertaining the pertinent facts; 
 (ii) no provision of this Agreement or any other Transaction Document shall require the Delaware Trustee to expend or risk its own funds or otherwise incur financial liability in the performance of any of its duties hereunder or in the
exercise of any of its rights or powers hereunder or under any other Transaction Document if the Delaware Trustee shall have reasonable grounds to believe that repayment of such funds or adequate indemnity against such risk or liability is not
reasonably assured or provided to it; 
  

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 (iii) under no circumstances shall the Delaware Trustee be personally liable
for any representation, warranty, covenant, agreement or indebtedness of the Trust; 
 (iv) the Delaware Trustee
shall not be responsible for or in respect of the validity or sufficiency of this Agreement or for the due execution hereof by the Depositor, the Owner Trustee, the Servicer or the Certificate Registrar; 
 (v) the Delaware Trustee shall incur no liability to anyone in acting upon any signature, instrument, notice, resolution,
request, consent, order, certificate, report, opinion, bond or other document or paper believed by it to be genuine and believed by it to be signed by the proper party or parties; the Delaware Trustee may accept a certified copy of a resolution of
the board of directors or other governing body of any corporate party as conclusive evidence that such resolution has been duly adopted by such body and that the same is in full force and effect; as to any fact or matter the method of determination
of which is not specifically prescribed herein, the Delaware Trustee may for all purposes hereof rely on a certificate, signed by the president or any vice president or by the treasurer or other authorized officers of the relevant party, as to such
fact or matter and such certificate shall constitute full protection to the Delaware Trustee for any action taken or omitted to be taken by it in good faith in reliance thereon; 
 (vi) in the exercise or administration of the trust hereunder, the Delaware Trustee (A) may act directly or through
agents or attorneys pursuant to agreements entered into with any of them, and the Delaware Trustee shall not be liable for the conduct or misconduct of such agents or attorneys if such agents or attorneys shall have been selected by the Delaware
Trustee with reasonable care and (B) may consult with counsel, accountants and other skilled Persons to be selected with reasonable care and employed by it, and the Delaware Trustee shall not be liable for anything done, suffered or omitted in
good faith by it in accordance with the written opinion or advice of any such counsel, accountants or other such Persons and not contrary to this Agreement or any other Transaction Document; and 
 (vii) except as expressly provided in this Section 10.6, in accepting and performing the trust hereby created, BNY
Mellon Trust of Delaware acts solely as Delaware Trustee hereunder and not in its individual capacity, and all Persons having any claim against the Delaware Trustee by reason of the transactions contemplated by this Agreement or any other
Transaction Document shall look only to the Owner Trust Estate for payment or satisfaction thereof. 
 (d) The Delaware Trustee
(or any successor trustee) shall be entitled to receive compensation from the Servicer for its services in accordance with such schedules as shall have been separately agreed to from time to time by the Delaware Trustee and the Servicer. The
Delaware Trustee may consult with counsel (who may be counsel for the Owner Trustee or for the Delaware Trustee). The reasonable legal fees incurred in connection with such consultation shall be reimbursed to the Delaware Trustee pursuant to Article
VIII. 
  

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 (e) The Delaware Trustee shall serve for the duration of the Trust and until the earlier of
(i) the effective date of the Delaware Trustee’s resignation or (ii) the effective date of the removal of the Delaware Trustee. The Delaware Trustee may resign at any time by giving thirty (30) days’ written notice to the
Administrator and the Depositor; provided, however, that such resignation shall not be effective until such time as a successor Delaware Trustee has accepted such appointment. The Delaware Trustee may be removed at any time by the
Administrator by providing thirty (30) days’ written notice to the Delaware Trustee; provided, however, that such removal shall not be effective until such time as a successor Delaware Trustee has accepted such appointment.
Upon the resignation or removal of the Delaware Trustee, the Administrator shall appoint a successor Delaware Trustee. If no successor Delaware Trustee shall have been appointed and shall have accepted such appointment within forty-five
(45) days after the giving of such notice of resignation or removal, the Delaware Trustee may petition any court of competent jurisdiction for the appointment of a successor Delaware Trustee. Any successor Delaware Trustee appointed pursuant to
this Section 10.6 shall be eligible to act in such capacity in accordance with this Agreement and, following compliance with this Section, shall become fully vested with the rights, powers, duties and obligations of its predecessor under this
Agreement, with like effect as if originally named as Delaware Trustee. 
 (f) The Delaware Trustee shall not be obligated to
give any bond or other security for the performance of any of its duties hereunder. 
 ARTICLE XI 
 MISCELLANEOUS 
 SECTION 11.1 Supplements and Amendments. 
 (a) This Agreement may be amended from time to time by the
Depositor and the Owner Trustee with prior written notice to the Rating Agencies, without the consent of any of the Noteholders or the Certificateholders to cure any ambiguity, to correct or supplement any provision herein that may be inconsistent
with any other provision herein or in any offering document used in connection with the initial offer and sale of the Notes or the Certificates or for the purpose of adding any provisions to or changing in any manner or eliminating any of the
provisions of this Agreement which will not be inconsistent with other provisions of this Agreement; provided, however, that (i) no such amendment may materially adversely affect the interests of any Noteholder or any
Certificateholder and (ii) no such amendment will be permitted unless an Opinion of Counsel is delivered to the Owner Trustee to the effect that such amendment will not cause the Trust to be characterized for federal income tax purposes as an
association taxable as a corporation or otherwise have any material adverse impact on the federal income taxation of any Notes Outstanding or outstanding Certificates or any Noteholder or Certificateholder. 
 (b) This Agreement may be amended from time to time by the Depositor and the Owner Trustee with prior written notice to the Rating Agencies,
with the consent of the Holders (as defined in the Indenture) of Notes evidencing not less than 51% of the Note Balance or, if the Notes have been paid in full, the Holders of Certificates evidencing not less than 51% of the aggregate Certificate
Percentage Interest, for the purpose of adding any provisions to, or changing in any manner or eliminating any of the provisions of, this Agreement or modifying in any manner the rights of the Noteholders or the Certificateholders; provided,
however, that (x) no such amendment will be permitted unless an Opinion of Counsel is delivered to the Owner

  

 32 

 
Trustee to the effect that such amendment will not cause the Trust to be characterized for federal income tax purposes as an association taxable as a corporation or otherwise have any material
adverse impact on the federal income taxation of any Notes Outstanding or outstanding Certificates or any Noteholder or Certificateholder and (y) no such amendment may: 
 (i) increase or reduce in any manner the amount of, or accelerate or delay the timing of, or change the allocation or
priority of, collections of payments on or in respect of the Receivables or distributions that are required to be made for the benefit of the Noteholders or the Certificateholders, or change any Note Rate, without the consent of all Noteholders and
Certificateholders adversely affected by such amendment; 
 (ii) reduce the percentage of the Note Balance or the
percentage of the aggregate Certificate Percentage Interest the consent of the Holders of which is required for any amendment to this Agreement without the consent of all the Noteholders and Certificateholders adversely affected by the amendment; or

 (iii) adversely affect the rating assigned by any Rating Agency to any Class of Notes without the consent of
the Holders (as defined in the Indenture) of Notes evidencing not less than 66 2/3% of the aggregate principal amount of the then outstanding Notes of such Class. 
 (c) An amendment to this Agreement shall be deemed not to materially adversely affect the interests of any Noteholder or Certificateholder if (i) the Person requesting such amendment obtains and
delivers to the Owner Trustee an Opinion of Counsel to that effect or (ii) the Rating Agency Condition is satisfied. 
 (d)
Promptly after the execution of any such amendment or consent, the Owner Trustee shall furnish written notification of the substance of such amendment or consent to each Certificateholder and the Depositor shall furnish written notice of the
substance of such amendment or consent to the Indenture Trustee and the Rating Agencies. 
 (e) It shall not be necessary for
the consent of the Certificateholders, the Noteholders or the Indenture Trustee pursuant to this Section 11.1 to approve the particular form of any proposed amendment or consent, but it shall be sufficient if such consent shall approve the
substance thereof. The manner of obtaining such consents (and any other consents of Certificateholders provided for in this Agreement or in any other Transaction Document) and of evidencing the authorization of the execution thereof by
Certificateholders shall be subject to such reasonable requirements as the Owner Trustee may prescribe. 
 (f) Promptly after
the execution of any amendment to the Certificate of Trust, the Owner Trustee shall file such amendment or cause such amendment to be filed with the Secretary of State. 
 (g) The Owner Trustee may, but shall not be obligated to, enter into any such amendment that affects the Owner Trustee’s own rights, duties, liabilities or immunities under this Agreement or
otherwise. 
  

 33 

 (h) Prior to the execution of any amendment to this Agreement or any amendment to any other
agreement to which the Trust is a party, the Owner Trustee shall be entitled to receive and shall be fully protected in relying upon an Opinion of Counsel stating that the execution of such amendment is authorized or permitted by this Agreement and
that all conditions precedent in this Agreement to the execution and delivery of such amendment have been satisfied. 
 SECTION 11.2 No Legal Title to Owner Trust Estate in Certificateholders. The Certificateholders shall not have legal title to any part of the Owner Trust Estate. The Certificateholders shall be entitled to receive distributions
with respect to their undivided beneficial interest therein only in accordance with Articles V and IX. No transfer, by operation of law or otherwise, of any right, title or interest of the Certificateholders in and to their beneficial interest in
the Owner Trust Estate shall operate to terminate this Agreement or the trusts hereunder or entitle any transferee to an accounting or to the transfer to it of legal title to any part of the Owner Trust Estate. 
 SECTION 11.3 Limitation on Rights of Others. The provisions of this Agreement are solely for the benefit of the Owner Trustee,
the Depositor, the Administrator, the Certificateholders, the Servicer and, to the extent expressly provided herein, the Indenture Trustee and the Noteholders, and nothing in this Agreement or in the Certificates, whether express or implied, shall
be construed to give to any other Person any legal or equitable right, remedy or claim in the Owner Trust Estate or under or in respect of this Agreement or any covenants, conditions or provisions contained herein. 
 SECTION 11.4 Notices. All demands, notices and other communications under this Agreement shall be in writing, personally
delivered, sent by telecopier, email, overnight courier or mailed by certified mail, return receipt requested, and shall be deemed to have been duly given upon receipt (i) in the case of the Owner Trustee, at the Corporate Trust Office,
(ii) in the case of the Depositor, at the following address: 12800 Tuckahoe Creek Parkway, Suite 400, Richmond, Virginia 23238, Attention: Treasurer, (iii) in the case of the Indenture Trustee, at the Corporate Trust Office, (iv) in
the case of Standard & Poor’s, at the following address: Standard & Poor’s Ratings Services, a division of The McGraw-Hill Companies, Inc., 55 Water Street, 43rd Floor, New York, New York 10041, Attention: Asset Backed
Surveillance Department and (v) in the case of Fitch, at the following address: Fitch, Inc., One State Street Plaza, New York, New York 10004, Attention: Auto Asset Backed Securities Group, and via email to notifications.abs@fitchratings.com.
Any notice required or permitted to be mailed to a Certificateholder shall be given by first-class mail, postage prepaid, at the address of such Holder as shown in the Certificate Register. Any notice so mailed within the time prescribed in this
Agreement shall be conclusively presumed to have been duly given, whether or not the Certificateholder shall receive such notice. 
 SECTION 11.5 Severability. If any provision of this Agreement or the Certificates shall be held for any reason whatsoever invalid, illegal or unenforceable, the validity, legality and enforceability of the remaining provisions
of this Agreement and the Certificates shall not in any way be affected or impaired thereby. 
  

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 SECTION 11.6 Separate Counterparts. This Agreement may be executed in any number of
counterparts, each of which counterparts when so executed shall be deemed to be an original, and all of which counterparts shall together constitute but one and the same instrument. 
 SECTION 11.7 Successors and Assigns. All covenants and agreements in this Agreement and the Certificates shall be binding upon,
and inure to the benefit of, the Depositor, the Owner Trustee and its successors and each Certificateholder and its successors and permitted assigns, all as herein provided. Any request, notice, direction, consent, waiver or other instrument or
action by a Certificateholder shall bind the successors and assigns of such Certificateholder. 
 SECTION 11.8 Covenants
of the Depositor. The Depositor shall not at any time institute against the Trust, or join in any institution against the Trust of, any bankruptcy, reorganization, arrangement, insolvency or liquidation proceedings, or other proceedings under
any United States federal or State bankruptcy or similar law in connection with any obligations relating to the Certificates, the Notes, this Agreement or any of the other Transaction Documents. 
 SECTION 11.9 No Petition. To the fullest extent permitted by applicable law, the Owner Trustee (not in its individual capacity
but solely as Owner Trustee), by entering into this Agreement, each Certificateholder, by accepting a Certificate, and the Indenture Trustee and each Noteholder, by accepting the benefits of this Agreement, hereby covenant and agree that they will
not at any time institute against the Depositor or the Trust, or join in any institution against the Depositor or the Trust of, or cooperate with or encourage others to institute against the Depositor or the Trust, any bankruptcy, reorganization,
arrangement, insolvency or liquidation proceedings, or other proceedings under any United States federal or State bankruptcy or similar law in connection with any obligations relating to the Certificates, the Notes, this Agreement or any of the
other Transaction Documents. 
 SECTION 11.10 No Recourse. Each Certificateholder, by accepting a Certificate,
acknowledges that the Certificates represent beneficial interests in the Trust only and do not represent interests in or obligations of the Depositor, the Servicer, the Administrator, the Owner Trustee, the Indenture Trustee or any Affiliate
thereof, and no recourse may be had against such parties or their assets, except as may be expressly set forth or contemplated in this Agreement, the Certificates or the other Transaction Documents. 
 SECTION 11.11 Headings. The Article and Section headings herein and the Table of Contents are for convenience only and shall not
define or limit any of the terms or provisions hereof. 
 SECTION 11.12 Governing Law. This Agreement shall be
construed in accordance with the laws of the State of Delaware and the obligations, rights and remedies of the parties under this Agreement shall be determined in accordance with such laws. 
 SECTION 11.13 Depositor Payment Obligation. The Depositor shall be responsible for payment of the Administrator’s
compensation under the Administration Agreement and shall reimburse the Administrator for all expenses and liabilities of the Administrator incurred under the Administration Agreement. 
  

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 SECTION 11.14 Certificates Nonassessable and Fully Paid. The Certificateholders
shall not be personally liable for the obligations of the Trust. The interests represented by the Certificates shall be nonassessable for any losses or expenses of the Trust or for any reason whatsoever, and, upon the authentication thereof by the
Owner Trustee pursuant to Section 3.3, 3.4 or 3.5, the Certificates are and shall be deemed fully paid. 
 SECTION 11.15 Ratification of Prior Actions. Any actions taken by the Owner Trustee, the Delaware Trustee or the Administrator, in each case for itself or on behalf of the Trust, in connection with the opening of bank accounts,
deposit of monies into such accounts, obtaining of sales finance company licenses on behalf of the Trust and any actions related thereto are hereby confirmed and ratified in all respects, and the Owner Trustee and the Delaware Trustee shall be
entitled to the indemnity provided for in Section 8.2 with respect to such actions. 
 [SIGNATURE PAGE FOLLOWS] 

 

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 IN WITNESS WHEREOF, the Depositor, the Delaware Trustee and the Owner Trustee have caused
this Agreement to be duly executed by their respective officers, thereunto duly authorized and duly attested, all as of the day and year first above written. 
  

			
	 CARMAX AUTO FUNDING LLC,
 as Depositor

		
	By:	 	/s/ Thomas W. Reedy
		 	Name: Thomas W. Reedy
		 	Title:   Treasurer

  

			
	 BNY MELLON TRUST OF DELAWARE,
 as Delaware Trustee

		
	By:	 	/s/ James Ambagis
		 	Name: James Ambagis
		 	Title:   Assistant Vice President

  

			
	 THE BANK OF NEW YORK MELLON,
 as Owner Trustee

		
	By:	 	/s/ Henry Baez
		 	Name: Henry Baez
		 	Title:   Assistant Treasurer

  

			
	 Accepted and agreed:
  
 CARMAX BUSINESS SERVICES, LLC,
 as
Servicer

		
	By:	 	/s/ Kim D. Orcutt
		 	Name: Kim D. Orcutt
		 	Title:   Vice President

  

 S-1 
 Amended and Restated Trust Agreement 

 Exhibit A 
 Form of Certificate 
 THIS ASSET BACKED CERTIFICATE IS SUBORDINATED IN
RIGHT OF PAYMENT TO THE NOTES TO THE EXTENT DESCRIBED IN THE TRUST AGREEMENT, THE SALE AND SERVICING AGREEMENT AND THE INDENTURE REFERRED TO HEREIN. 
  

			
	 REGISTERED
	  	NO. R-1

 CARMAX AUTO OWNER TRUST 2009-2 
 ASSET-BACKED CERTIFICATE 
 evidencing a beneficial interest in the property of CarMax Auto Owner Trust 2009-2, a Delaware statutory trust (the “Trust”), which property includes a pool of retail installment sale contracts secured by new and used motor
vehicles sold by CarMax Business Services, LLC, a Delaware limited liability company (the “Seller”), to CarMax Auto Funding LLC, a Delaware limited liability company (the “Depositor”), and sold by the Depositor to
the Trust. The property of the Trust (other than the Certificate Payment Account and the proceeds thereof) has been pledged by the Trust to Wells Fargo Bank, National Association, a national banking association, as Indenture Trustee (in such
capacity, the “Indenture Trustee”), pursuant to an Indenture dated as of November 1, 2009 (as amended, supplemented or otherwise modified from time to time, the “Indenture”) between the Trust and the Indenture
Trustee to secure the payment of the Notes issued thereunder. 
 This certifies that CARMAX AUTO FUNDING LLC is the registered
owner of a 100% Certificate Percentage Interest nonassessable, fully paid, beneficial interest in the Trust. The Trust was created pursuant to a Trust Agreement dated as of May 4, 2009 among the Depositor, BNY Mellon Trust of Delaware, not in
its individual capacity but solely as Delaware Trustee (in such capacity, the “Delaware Trustee”), and The Bank of New York Mellon, not in its individual capacity but solely as Owner Trustee (in such capacity, the “Owner
Trustee”), as amended and restated by an Amended and Restated Trust Agreement dated as of November 1, 2009 (as amended, supplemented or otherwise modified and in effect from time to time, the “Trust Agreement”) among
the Depositor, the Delaware Trustee and the Owner Trustee, a summary of certain of the pertinent provisions of which is set forth below. Capitalized terms used but not defined herein have the meanings assigned to them in the Trust Agreement or in
the Sale and Servicing Agreement dated as of November 1, 2009 (as amended, supplemented or otherwise modified and in effect from time to time, the “Sale and Servicing Agreement”) among the Trust, the Depositor, CarMax Business
Services, LLC, as servicer (in such capacity, the “Servicer”), and Wells Fargo Bank, National Association, a national banking association, as backup servicer (in such capacity, the “Backup Servicer”). 
  

 A-1 

 This Certificate is issued under and is subject to the terms, provisions and conditions of
the Trust Agreement, to which Trust Agreement the Holder of this Certificate by virtue of the acceptance hereof assents and by which such Holder is bound. The property of the Trust includes: (i) a pool of retail installment sale contracts
originated in connection with the sale of new or used motor vehicles (the “Receivables”); (ii) all amounts received on or in respect of the Receivables after the Cutoff Date; (iii) the security interests in the Financed
Vehicles granted by the Obligors pursuant to the Receivables and any other interest of the Seller or the Depositor in such Financed Vehicles; (iv) all proceeds from claims on or refunds of premiums with respect to physical damage, theft, credit
life or credit disability insurance policies relating to the Financed Vehicles or the Obligors; (v) the Receivable Files; (vi) the Collection Account, the Note Payment Account, the Certificate Payment Account and the Reserve Account and
all amounts, securities, financial assets, investments and other property deposited in or credited to any of the foregoing and all proceeds thereof; (vii) all rights of the Depositor under the Receivables Purchase Agreement, including the right
to require the Seller to repurchase Receivables from the Depositor; (viii) the right to realize upon any property (including the right to receive future Liquidation Proceeds) that shall have secured a Receivable and have been repossessed by or
on behalf of the Trust; and (ix) all present and future claims, demands, causes of action and choses in action in respect of any or all of the foregoing and all payments on or under and all proceeds of every kind and nature whatsoever in
respect of any or all of the foregoing, including all proceeds of the conversion thereof, voluntary or involuntary, into cash or other liquid property, all accounts, general intangibles, chattel paper, instruments, documents, money, investment
property, deposit accounts, letters of credit, letter-of-credit rights, insurance proceeds, condemnation awards, rights to payment of any and every kind and other forms of obligations and all other property which at any time constitutes all or part
of or is included in the proceeds of any of the foregoing. 
 THE RIGHTS OF THE TRUST IN THE FOREGOING PROPERTY OF THE TRUST
(OTHER THAN THE CERTIFICATE PAYMENT ACCOUNT AND THE PROCEEDS THEREOF) HAVE BEEN PLEDGED TO THE INDENTURE TRUSTEE TO SECURE THE PAYMENT OF THE NOTES. 
 Pursuant to the Trust Agreement, there will be distributed on each Distribution Date to the Person in whose name this Certificate is registered at the close of business on the Business Day preceding such
Distribution Date such Certificateholder’s Certificate Percentage Interest in the amount to be distributed to Certificateholders on such Distribution Date. 
 “Distribution Date” means the 15th day of each month or, if such 15th day is not a Business Day, the following Business Day, commencing on December 15, 2009. 
 THE HOLDER OF THIS CERTIFICATE ACKNOWLEDGES AND AGREES THAT ITS RIGHTS TO RECEIVE DISTRIBUTIONS IN RESPECT OF THIS CERTIFICATE ARE
SUBORDINATED TO THE RIGHTS OF THE NOTEHOLDERS AS DESCRIBED IN THE TRUST AGREEMENT, THE SALE AND SERVICING AGREEMENT AND THE INDENTURE. 
  

 A-2 

 It is the intent of the Depositor, the Seller, the Servicer and the Certificateholders that,
for purposes of federal income taxes, State and local income taxes and any other income taxes, the Trust will be treated either as a disregarded entity under Treasury Regulation Section 301.7701-3 or as a partnership, and that the
Certificateholders (including the Depositor) will be treated as partners in that partnership. The Certificateholders, by acceptance of a Certificate, agree to such treatment and agree to take no action inconsistent with such treatment. 

Each Certificateholder, by its acceptance of a Certificate, covenants and agrees that such Certificateholder will not at any time
institute against the Depositor or the Trust, or join in any institution against the Depositor or the Trust of, any bankruptcy, reorganization, arrangement, insolvency or liquidation proceedings under any United States federal or State bankruptcy or
similar law in connection with any obligations relating to the Notes, the Certificates, the Trust Agreement or any of the other Transaction Documents. 
 Distributions on this Certificate will be made as provided in the Trust Agreement by the Paying Agent by wire transfer or check mailed to the Certificateholder of record in the Certificate Register
without the presentation or surrender of this Certificate or the making of any notation hereon. Except as otherwise provided in the Trust Agreement and notwithstanding the above, the final distribution on this Certificate will be made after due
notice by the Owner Trustee of the pendency of such distribution and only upon presentation and surrender of this Certificate at the office or agency of the Certificate Registrar maintained for that purpose in the Borough of Manhattan, The City of
New York. 
 Reference is hereby made to the further provisions of this Certificate set forth on the reverse hereof, which
further provisions shall for all purposes have the same effect as if fully set forth on the face of this Certificate. 
 Unless
the certificate of authentication hereon has been executed by an authorized officer of the Owner Trustee, by manual signature, this Certificate shall not entitle the Holder hereof to any benefit under the Trust Agreement or the Sale and Servicing
Agreement or be valid for any purpose. 
 [REMAINDER OF PAGE INTENTIONALLY LEFT BLANK] 
  

 A-3 

 IN WITNESS WHEREOF, the Owner Trustee, on behalf of the Trust and not in its individual
capacity, has caused this Certificate to be duly executed as of the date set forth below. 
 Dated: November 10, 2009 
  

			
	CARMAX AUTO OWNER TRUST 2009-2,
		
	By:	 	THE BANK OF NEW YORK MELLON, not in its individual capacity but solely as Owner Trustee
		
	By:	 	 
		 	Name:
		 	Title:

 OWNER TRUSTEE’S CERTIFICATE OF AUTHENTICATION 
 This is one of the Certificates referred to in the within-mentioned Trust Agreement. 
 Dated: November 10, 2009 
  

			
	 THE BANK OF NEW YORK MELLON,
 not in its individual capacity but solely as Owner Trustee

		
	By:	 	 
		 	Name:
		 	Title:

  

 A-4 

 [REVERSE OF CERTIFICATE] 
 This Certificate does not represent an obligation of, or an interest in, the Depositor, the Seller, the Servicer, the Backup Servicer, the
Administrator, the Owner Trustee or any Affiliates of any of them, and no recourse may be had against such parties or their assets, except as may be expressly set forth or contemplated herein, in the Trust Agreement or in the other Transaction
Documents. In addition, this Certificate is not guaranteed by any governmental agency or instrumentality and is limited in right of payment to certain collections with respect to the Receivables (and certain other amounts), all as more specifically
set forth herein and in the Sale and Servicing Agreement. 
 The Trust Agreement permits the Depositor and the Owner Trustee, on
behalf of the Trust, with certain exceptions therein provided, to amend or waive from time to time certain terms and conditions set forth in the Trust Agreement without the consent of the Holders of the Certificates. The Trust Agreement also permits
the Depositor and the Owner Trustee, on behalf of the Trust, with certain exceptions as therein provided, to amend or waive certain terms and conditions set forth in the Trust Agreement with the consent of the Holders of the Notes evidencing not
less than 51% of the Note Balance and the Holders of Certificates evidencing not less than 51% of the aggregate Certificate Percentage Interest. Any such consent or waiver by the Holder of this Certificate shall be conclusive and binding on such
Holder and on all future Holders of this Certificate and of any Certificate issued upon the registration of transfer hereof or in exchange hereof or in lieu hereof whether or not notation of such consent or waiver is made upon this Certificate.

 As provided in the Trust Agreement and subject to certain limitations therein set forth, the Transfer of this Certificate may
be registered in the Certificate Register upon surrender of this Certificate for registration of Transfer at the office or agency of the Certificate Registrar maintained for that purpose in the Borough of Manhattan, The City of New York and a
written instrument of transfer in form satisfactory to the Certificate Registrar duly executed by the Holder hereof or such Holder’s attorney duly authorized in writing, and thereupon one or more new Certificates in any authorized denomination
and in the same aggregate principal amount will be issued to the designated transferee or transferees. No service charge shall be made for any registration of Transfer or exchange of Certificates, but the Owner Trustee or the Certificate Registrar
may require payment of a sum sufficient to cover any tax or governmental charge that may be imposed in connection therewith. The initial Certificate Registrar appointed under the Trust Agreement is the Owner Trustee. 
 Each Certificateholder, by its acceptance of a Certificate, shall be deemed to have represented and warranted that such Certificateholder
(A) is not an employee benefit plan or arrangement subject to Section 406 of ERISA or a plan subject to Section 4975 of the Code (a “Plan”), nor a person acting on behalf of a Plan nor using the assets of a Plan to
effect the transfer of such Certificate, and (B) is not an insurance company purchasing a Certificate with funds contained in an “insurance company general account” (as defined in Section V(e) of Prohibited Transaction Class Exemption
95-60) that includes the assets of a Plan for purposes of the Plan Asset Regulation. 
  

 A-5 

 Any person who is not an affiliate of the Seller and acquires more than 49.9% of the
Certificates will be deemed to represent that it is not a party in interest (within the meaning of ERISA) or a disqualified person (within the meaning of Section 4975(e)(2) of the Code) with respect to any Plan, other than a Plan that it
sponsors for the benefit of its employees, and that no Plan with respect to which it is a party in interest has or will acquire any interest in the Notes. 
 The Certificates are issuable only in registered form in denominations as provided in the Trust Agreement, subject to certain limitations therein set forth. 
 The Owner Trustee, the Certificate Registrar and any Paying Agent may treat the Person in whose name this Certificate is registered in the
Certificate Register (as of the day of determination) as the owner of this Certificate for the purpose of receiving distributions pursuant to the Trust Agreement and for all other purposes whatsoever, and none of the Owner Trustee, the Certificate
Registrar or any Paying Agent shall be bound by any notice to the contrary. 
 The Trust Agreement, with certain exceptions
therein provided, and the Trust shall terminate and be of no further force or effect upon the earlier of (i) the payment to the Servicer, the Noteholders and the Certificateholders of all amounts required to be paid to them pursuant to the
terms of the Indenture, the Sale and Servicing Agreement and the Trust Agreement and (ii) the Distribution Date next succeeding the month which is one year after the maturity or other liquidation of the last Receivable and the disposition of
any amounts received upon liquidation of any property remaining in the Trust. 
 This Certificate shall be governed by, and
construed in accordance with, the laws of the State of Delaware, and the obligations, rights and remedies of the parties hereunder shall be determined in accordance with such laws. 
  

 A-6 

 ASSIGNMENT 
 SOCIAL SECURITY NUMBER 
 OR OTHER IDENTIFICATION 
 NUMBER OF ASSIGNEE:
                             
 FOR VALUE RECEIVED, the undersigned hereby sells, assigns and transfers unto
                                         
                    
  
  
 (name and address of assignee)

 the within Certificate and all rights thereunder, and hereby irrevocably constitutes and appoints
                                        ,
attorney, to transfer said Certificate on the Certificate Register, with full power of substitution in the premises. 
 Dated: 
  

			
		
	  	 	*/
	Signature Guaranteed:	 	
		
	  	 	*/

  

	*/	NOTICE: The signature to this assignment must correspond with the name of the registered owner as it appears on the face of the within Certificate in every particular,
without alteration, enlargement or any change whatsoever. Such signature must be guaranteed by an “eligible guarantor institution” meeting the requirements of the Certificate Registrar. 

  

 A-7 

 Exhibit B 
 Form of Certificate of Trust 
 Certificate of Trust of CarMax Auto Owner
Trust 2009-2 
 This Certificate of Trust of CarMax Auto Owner Trust 2009-2 (the “Trust”) is being duly executed and
filed by The Bank of New York Mellon, a New York banking corporation, as owner trustee (the “Owner Trustee”), and BNY Mellon Trust of Delaware, a Delaware banking corporation, as Delaware trustee (the “Delaware Trustee”), to form
a statutory trust under the Delaware Statutory Trust Act (12 Del. Code, § 3801 et seq.) (the “Act”). 
 1. Name. The name of the statutory trust formed hereby is CarMax Auto Owner Trust 2009-2. 
 2. Delaware
Trustee. The name and business address of a trustee of the Trust having its principal place of business in the State of Delaware is BNY Mellon Trust of Delaware, White Clay Center, Route 273, Newark, Delaware 19711. 
 3. Effective Date. This Certificate of Trust shall be effective upon its filing with the Secretary of State of the State of Delaware.

 IN WITNESS WHEREOF, the undersigned has executed this Certificate of Trust in accordance with Section 3811(a)(1) of the
Act. 
  

			
	 THE BANK OF NEW YORK MELLON,
 as Owner Trustee

		
	By:	 	 
		 	Name:
		 	Title:

  

			
	 BNY MELLON TRUST OF DELAWARE,
 as Delaware Trustee

		
	By:	 	 
		 	Name:
		 	Title:

  

 B-1

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