Document:

lens-ex101_7.htm

Exhibit 10.1

Presbia Consulting Agreement

THIS CONSULTING AGREEMENT (“Agreement”) is made effective as of January 15, 2018, by and between PRESBIBIO, LLC hereafter referred to as “Presbia”, a California Limited Liability Company with a principal place of business at 8845 Irvine Center Drive, Suite 100, Irvine, CA 92618 USA, and Vladimir Feingold, hereafter referred to as “Consultant”, an individual having an address at Riedgutschstrasse 23, Wollerau, 8832, Switzerland.

1.Consultancy. Presbia hereby retains Consultant, and Consultant hereby accepts such retention, commencing as of the date of this Agreement and continuing for three months thereafter, unless earlier terminated in accordance with Sections 6 or 11 herein (the “Term”).

2.Services. Consultant shall serve as a consultant to Presbia and affiliates and perform the Services set forth in Exhibit A attached hereto or as otherwise reasonably requested by Presbia and agreed by Consultant (the “Consulting Services”). Consultant shall be available to perform the Consulting Services at all reasonable times during the Term as may be requested by Presbia.

3.Compensation. During the Term, Presbia shall compensation Consultant for the Consulting Services in accordance with the terms set forth in Exhibit A, attached hereto for services that are requested by Presbia in writing (email acceptable) and agreed to by Consultant (email acceptable).

4.Expenses. Presbia will reimburse Consultant for any and all reasonable expenses approved in advance by Presbia management (specifically Mark Yung) and in accordance with Presbia’s travel and expense reimbursement policies. Such expenses shall be reimbursed upon receipt of satisfactory written proof of such expenditures.

It is Presbia policy that all travel expenses must be approved in advance for Consultant travel and that reasonable expenses be reimbursed for travel, lodging and meals only when Presbia requests that Consultant attend a meeting on behalf of Presbia that Consultant would not normally attend on his own. Presbia will not pay travel costs for any guests under any circumstances.

5.Invoices. Consultant shall submit invoices to Presbia by the last business day of each month during the Term setting forth, in reasonable detail, the Consulting Services performed by Consultant during the month and all expenses for which Consultant is seeking reimbursement, together with support for such expenses as required herein. Such invoices shall be in the form annexed hereto as Exhibit C.

6.Other Engagements. During the Term, Consultant may be engaged by one or more third parties to perform other services. Consultant must disclose to Presbia the name of such third party and the nature of services to be performed for such third party under any agreements that exist as of the date of this Agreement and shall promptly (no more than five business days after signing) notify Presbia of any future signed agreements and their terms. Consultant represents and warrants to Presbia that Consultant is not currently and shall not during the Term become a party to any agreement which could reasonably be considered to conflict with Consultant’s duties hereunder. Consultant shall use his best efforts to segregate work done under this Agreement from work performed for any third party or done with government funding, so as to minimize any questions of disclosure or ownership of rights concerning any Work Product or Confidential Information. Presbia may terminate this Agreement immediately if, in its sole opinion, Consultant’s performance of such work or engagement by a third party may conflict with Presbia’s interests. Consultant shall not disclose to Presbia any inventions, trade secrets or other information of third parties that Consultant does not have the unrestricted right to disclose and that Presbia is not free to use and disclose without liability.

 

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7.Inventions, Patents and Technology. Consultant shall promptly and fully disclose to Presbia any and all inventions, improvements, discoveries, developments, original works of authorship, trade secrets or other intellectual property conceived, developed or reduced to practice by Consultant in connection with, or as a result of, the Consulting Services (the “Confidential Information”) and shall treat all such Information as the proprietary property of Presbia. Consultant agrees to assign, and does hereby assign, to Presbia and its successors and assigns, without further consideration, Consultant’s entire right, title and interest in and to the Information whether or not patentable or copyrightable. Consultant further agrees to execute all applications for patents, and/or copyrights, domestic or foreign, assignments and other papers necessary to secure and enforce rights related to the Confidential Information. The parties acknowledge that all original works of authorship which are made by Consultant within the scope of his Consulting Services and which are protectable by copyright are “works made for hire,” as the term is defined in the United States Copyright Act (17USC Section 101).

8.Confidentiality. Consultant agrees that he shall not use (except for Presbia’s benefit) or divulge to any third party, during the Term or thereafter, any of Presbia’s trade secrets or other proprietary data or Confidential Information of any kind whatsoever, which are acquired by Consultant while operating under this Agreement. This obligation of confidentiality shall not apply to information:

a.Described, in its totality, in a patent or other printed publication at the time it was communicated by Presbia to Consultant or by Consultant to Presbia, whichever is the case.

b.In Consultant’s possession, in its totality, free of any obligation of confidence at the time it was communicated to Consultant.

c.Became known to the public, in its totality, to Consultant by a third party free of any obligation of confidence subsequent to the time it was communicated by Presbia to Consultant or by Consultant to Presbia, whichever is the case.

d.Lawfully communicated, in its totality, to Consultant by a third party free of any obligation of confidence subsequent to the time it was communicated by Presbia to Consultant or by Consultant to Presbia, whichever is the case.

Consultant further agrees that upon completion or termination of this Agreement, he/she will turn over to Presbia any notebook, data, information or other material acquired or prepared by Consultant in carrying out the terms of this Agreement. However, Consultant may keep one copy of such material for archival purposes.

9.Warranties and Covenants. Consultant represents and warrants to Presbia that he has full power and authority to enter into and perform this Agreement without conflict with any other Agreements to which Consultant is a party, and covenants that he shall not enter into any agreement, or engage in any conduct, which conflicts with, or prevents the performance of, Consultant’s duties and obligations hereunder. Consultant further represents and warrants that Exhibit B contains a full and accurate description of all agreements, to which Consultant is a party, requiring Consultant to perform consulting or other services similar to those to be performed by Consultant under this Agreement. Consultant further covenants that at all times during the Term he shall perform the Consulting Services strictly in compliance with all applicable federal, state and local laws and regulations.

10.Notice. Any notice to Presbia hereunder shall be made in writing at the address set forth below:

Presbia

8845 Irvine Center Drive

Suite 100

Irvine, CA 92618

FAX +1.323.832.8447

 

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Any notice to Consultant hereunder shall be made in writing at the address set forth above. Notices hereunder shall be mailed, postage and fees prepaid, registered or certified mail with a return receipt requested; delivered to a nationally recognized carrier for next business day delivery; or sent by telex facsimile transmission with receipt showing successful transmission; and in each case shall be deemed effective upon delivery.

11.Termination. Either party may terminate this Agreement within its sole discretion by sending written notice of termination at least fifteen (15) days prior to the intended termination to the other party. Such termination shall be effective in the manner and upon the date specified in the notice and without prejudice to any claims which one party may have against the other. In the event of such termination, Presbia shall be obligated to reimburse Consultant for Consulting Services actually performed by Consultant up to the effective date of termination. Termination shall not relieve Consultant of his continuing obligations under this Agreement, particularly the requirements of paragraphs 7 and 8 listed above and which shall survive termination of this Agreement.

12.Miscellaneous.

12.1Not an Employee. Consultant is an independent contractor and is not an employee or agent of Presbia. Consultant shall be entitled to no benefits or compensation from Presbia except as set forth in this Agreement and shall in no event be entitled to any fringe benefits payable to employees of Presbia. Consultant shall be solely responsible for any taxes or other similar charges relating to any compensation paid to Consultant under this Agreement.

12.2Non-Assignable. This Agreement shall be non-assignable by Consultant unless prior written consent of Presbia is received. If this Agreement is assigned or otherwise transferred, it shall be binding on all successors and assigns.

12.3Severability. If any provision of this Agreement is deemed invalid, all other provisions shall remain in full force and effect.

12.4Breach. Each party hereto acknowledges, understands and agrees that a breach of this Agreement will cause irreparable injury to the other, and that no adequate or complete remedy at law is available to either party hereto for such breach. Accordingly, each party hereto agrees that the other shall be entitled to enforcement of this Agreement by injunction, and hereby irrevocably waives any defense based on the adequacy of the remedy at law which might be asserted as a bar to said injunctive relief.

12.5Entire Agreement. This Agreement constitutes the entire agreement between the parties. This Agreement sets forth all of the covenants, promises, agreements, conditions and understandings between the parties and there are no covenants, promises, agreements or conditions, either oral or written, between them other than herein set forth. No subsequent alteration, amendment, change or addition to this Agreement shall be binding upon either party unless reduced in writing and signed by them.

12.6Applicable Law. This Agreement is entered into and executed in the State of California and shall be governed by the laws of such State without regard to conflict of laws rules. Both parties submit to personal jurisdiction in California and further agree that any cause of action relating to this agreement shall be brought exclusively in a court in Orange County, California.

12.7Further Assurances. Each of the parties shall, from time to time, and without charge to the other parties, take such additional actions and execute, deliver and file such additional instruments as may be reasonably required to give effect to the transactions contemplated by this Agreement.

12.8Press Releases. Presbia shall have the right to prepare and distribute press releases or other communications announcing the existence of this Agreement and the subject matter hereof and other relevant information concerning Consultant, provided that Consultant shall have a prior opportunity to review and comment on such press releases or other communications.

 

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12.9Prior Agreements. This Agreement replaces and supersedes in its entirety the Agreement of the Independent Contractor Services Agreement dated as of January 2017, which was terminated by the Company effective December 31, 2017. 

IN WITNESS WHEREOF, the parties have executed this Agreement as of the date set forth above.

 

	
PRESBIBIO, LLC
	
 
	
CONSULTANT

	
 
	
 
	
 

	
/s/ Mark Yung
	
 
	
/s/ Vladimir Feingold

	
Signature
	
 
	
Signature

	
 
	
 
	
 

	
Mark Yung
	
 
	
Vladimir Feingold

	
Printed Name 
	
 
	
Printed Name

	
 
	
 
	
 

	
CEO
	
 
	
Taxpayer ID: 611012103

	
Title 
	
 
	
 

 

 

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Presbia Exhibit A

Duties, Responsibilities, Honorarium Schedule

 

	
Activities:
	
Honorarium:
	
Period of Engagement:

	
Consulting Services (detailed below)
	
$15,000 p. month paid as defined below plus $10,000 p. month in 
RSUs 
(conversion price set at the end of the Term and RSUs to be delivered within a reasonable period of time following the termination of the Agreement.)
	
January 15, 2018 to April 15, 2018 (3 months)

 

Consulting Services shall be delivered from remote location (i.e. it is not necessary to be physically present in Irvine)

Clinical Support

Important and time sensitive tasks:

	
1.
	
iTrace section of clinical study report (CSR) with analyses and conclusions. Deliverable by Jan. 28, 2018.

	
2.
	
Rationale to be put into the executive summary supporting a submission with month 24 data and phase 1 month 36 data, not full cohort at month 36. Deliverable by Jan. 28, 2018. 

Additional activities:

	
1.
	
Review CSR draft and labeling/ provide feedback

	
2.
	
Telephone attendance during teleconference meetings as needed with PMA team

	
3.
	
Attendance during FDA meetings as needed

	
4.
	
Strategy and execution of FDA responses if needed

Manufacturing Support

	
 
	
•
	
PMA Module 3 (Manufacturing) deficiencies support if necessary

	
 
	
o
	
Conference call with FDA

	
 
	
•
	
FDA QSIT Audit deficiencies support if necessary

	
 
	
•
	
Manufacturing process support if necessary

	
 
	
•
	
Optical Measurement system optimization or implementation of new system (Required only if there is a production volume need)

Regulatory Support

	
 
	
•
	
Advice, as needed

Honorarium Cash Payments

Presbia will pay within 3 days of the execution of Agreement $15,000 related to the first period of the Term of the Agreement, or 1/15/18 to 2/15/18. The second $15,000 payment related to the Term of the Agreement will be paid on 2/15/18 for the period of 2/15/18 to 3/15/18. The third payment of $15,000 related to the Term of the Agreement will be paid on 3/15/18 for the period 3/15/18 to 4/15/18.

 

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Presbia Exhibit B

Third Party Agreements

 

	
Parties
	
Date of Agreement
	
Type of Agreement

	
 
	
 
	
 

	
Capvis Equity Partners AG
	
26 June 2017
	
Consulting

	
 
	
 
	
 

	
LacriScience LLC
	
30 Oct 2017
	
Letter of Understanding

 

 

6EX-10.1

 Exhibit 10.1 

FOURTEENTH AMENDMENT TO THE 

FIRST AMENDED AND RESTATED 

AGREEMENT OF LIMITED PARTNERSHIP OF 

SAUL HOLDINGS LIMITED PARTNERSHIP 

THIS FOURTEENTH AMENDMENT TO THE FIRST AMENDED AND RESTATED AGREEMENT OF LIMITED PARTNERSHIP OF SAUL HOLDINGS LIMITED PARTNERSHIP (this
“Fourteenth Amendment”), dated as of January 23, 2018, is entered into by the undersigned party. 
 W
I T N E S S E T H: 
 WHEREAS, Saul Holdings Limited Partnership (the
“Partnership”) was formed as a Maryland limited partnership pursuant to that certain Certificate of Limited Partnership dated June 16, 1993 and filed on June 16, 1993 among the partnership records of the Maryland State
Department of Assessments and Taxation, and that certain Agreement of Limited Partnership dated June 16, 1993 (the “Original Agreement”); 

WHEREAS, the Original Agreement was amended and restated in its entirety by that certain First Amended and Restated Agreement of Limited
Partnership of the Partnership dated August 26, 1993, which was further amended by that certain First Amendment dated August 26, 1993, by that certain Second Amendment dated March 31, 1994, by that certain Third Amendment dated
July 21, 1994, by that certain Fourth Amendment dated December 1, 1996, by that certain Fifth Amendment dated July 6, 2000, by that certain Sixth Amendment dated November 5, 2003, by that certain Seventh Amendment dated
November 26, 2003, by that certain Eighth Amendment dated December 31, 2007, by that certain Ninth Amendment dated March 27, 2008, by that certain Tenth Amendment dated April 4, 2008, by that certain Eleventh Amendment dated
September 23, 2011, by that certain Twelfth Amendment dated February 12, 2013 and by that certain Thirteenth Amendment dated November 12, 2014 (as amended, the “Agreement”); 

WHEREAS, on January 23, 2018, Saul Centers, Inc. (the “General Partner”) issued 30,000 shares of 6.125% Series D
Cumulative Redeemable Preferred Stock (the “Series D Preferred Shares,” each a “Series D Preferred Share”) at a gross offering price of $2,500.00 per Series D Preferred Share and, in connection therewith, the
General Partner, pursuant to Section 8.7.C of the Agreement, is required to contribute the proceeds of such issuance to the Partnership and cause the Partnership to issue to the General Partner preferred equity ownership interests in the
Partnership (“Series D Preferred Partnership Units”); and 
 WHEREAS, the General Partner desires to amend the Agreement
pursuant to its authority under Sections 2.4 and 14.1.B of the Agreement and the powers of attorney granted to the General Partner by the Limited Partners in order to reflect the aforementioned issuance of the Series D Preferred Partnership Units;

 NOW, THEREFORE, in consideration of the mutual covenants and agreements herein contained and other good and valuable consideration, the
receipt, adequacy and sufficiency of which are hereby acknowledged, the undersigned party, intending legally to be bound, hereby agrees as follows: 

 1. The Agreement is hereby amended by the addition of a new exhibit, entitled Exhibit I,
in the form attached hereto, which sets forth the designations, allocations, preferences and other special rights, powers and duties of the Series D Preferred Partnership Units and which shall be attached to and made a part of the Agreement. 

2. Pursuant to Section 8.7.C of the Agreement, effective as of January 23, 2018, the issuance date of the Series D Preferred Shares
by the General Partner, the Partnership hereby issues 30,000 Series D Preferred Partnership Units to the General Partner as provided in Exhibit I. The Series D Preferred Partnership Units have been created and are being issued in conjunction
with the General Partner’s issuance of the Series D Preferred Shares, and, therefore, the Series D Preferred Partnership Units are intended to have designations, preferences and other rights, all such that the economic interests are
substantially similar to the designations, preferences and other rights of the Series D Preferred Shares, and the terms of this Fourteenth Amendment, including without limitation the attached Exhibit I, shall be interpreted in a fashion
consistent with this intent. In return for the issuance to the General Partner of the Series D Preferred Partnership Units, the General Partner has contributed to the Partnership the funds raised through its issuance of the Series D Preferred Shares
(the General Partner’s capital contribution shall be deemed to equal the amount of the gross proceeds of that share issuance, i.e., the net proceeds actually contributed, plus any underwriter’s discount or other expenses incurred,
with any such discount or expense deemed to have been incurred by the General Partner on behalf of the Partnership). 
 3. In order to
reflect the issuance of the Series D Preferred Partnership Units, Exhibit A to the Agreement is hereby amended by adding to the end of such Exhibit A the following table: 

 

									
	 Series D Preferred Partnership Units
  
	  				  			
	Holder	  	Number of Series D
Preferred Partnership
Units	 	  	Issuance Date	 
	Saul Centers, Inc.	  	 	30,000	 	  	 	1/23/2018	 

 4. The foregoing recitals are incorporated in and are part of this Fourteenth Amendment. 

5. Except as the context may otherwise require, any terms used in this Fourteenth Amendment that are defined in the Agreement shall have the
same meaning for purposes of this Fourteenth Amendment as in the Agreement. 
 6. Except as specifically amended hereby, the terms,
covenants, provisions and conditions of the Agreement shall remain unmodified and continue in full force and effect and, except as amended hereby, all of the terms, covenants, provisions and conditions of the Agreement are hereby ratified and
confirmed in all respects. 

  
 - 2 - 

 IN WITNESS WHEREOF, the undersigned parties have executed this Fourteenth Amendment as of the
date first written above. 
  

			
	 GENERAL PARTNER

 

	 SAUL CENTERS, INC.

a Maryland corporation

		
	 By:
	 	 /s/ Scott V. Schneider

	 Name:
	 	 Scott V. Schneider

	 Title:
	 	 Senior Vice President,

Chief Financial Officer,

Treasurer and Secretary

 Fourteenth Amendment to SHLP Partnership Agreement – Series D 

 EXHIBIT I 

DESIGNATION OF THE 
 SERIES D
PREFERRED PARTNERSHIP UNITS 
 OF SAUL HOLDINGS LIMITED PARTNERSHIP 

1. Number of Units and Designation. 

A class of ownership interests in the Partnership entitled “Series D Preferred Partnership Units” is hereby designated and the
number of Series D Preferred Partnership Units constituting such class shall be 30,000. 
 2. Definitions. 

For purposes of the Series D Preferred Partnership Units, the following terms shall have the meanings indicated in this Section 2, and
capitalized terms used and not otherwise defined herein shall have the meanings assigned thereto in the Agreement: 
 “Distribution
Payment Date” means any date on which cash dividends are paid on all outstanding shares of the Series D Preferred Shares. 

“Liquidation Preference” has the meaning set forth in Section 4 of this Exhibit I. 

“Series D Preferred Partnership Units” means the preferred equity ownership interests in the Partnership issued to the
General Partner by the Partnership in connection with the issuance by the General Partner of the Series D Preferred Shares, having the designations, preferences and rights set forth in this Exhibit I. 

“Series D Preferred Shares” means the 6.125% Series D Cumulative Redeemable Preferred Stock issued by the General Partner.

 3. Distributions. 

Notwithstanding anything to the contrary contained in Section 5.2 of the Agreement, on each Distribution Payment Date, the General
Partner shall cause distributions of Available Cash to be made in cash to the General Partner with respect to the Series D Preferred Partnership Units in an amount equal to the amount that is required to be distributed by the General Partner on that
date to the holders of Series D Preferred Shares. The Series D Preferred Partnership Units shall not be entitled to any distributions of Available Cash, whether payable in cash, property or stock, except as provided herein. 

4. Liquidation Preference. 

In the event of any liquidation, dissolution or winding up of the Partnership, whether voluntary or involuntary, before any payment or
distribution of the Partnership (whether capital, surplus or otherwise) shall be made under Section 13.2.A(3) to any classes of ownership interest in the Partnership that are junior in priority to the Series D Preferred Partnership Units, the
Series D Preferred Partnership Units shall be entitled to a preference (the “Liquidation Preference”) 

 
equal to the sum of (i) $2,500 per Series D Preferred Partnership Unit, plus (ii) an amount per Series D Preferred Partnership Unit equal to any accrued and unpaid dividends on one Series D
Preferred Share to the date of final distribution. Until the Liquidation Preference with respect to the Series D Preferred Partnership Units has been paid in full, no payment shall be made under Section 13.2.A(3) with respect to any classes of
ownership interest in the Partnership that are junior in priority to the Series D Preferred Partnership Units. If, upon any liquidation, dissolution or winding up of the Partnership, the assets of the Partnership, or proceeds thereof, distributable
with respect to the Series D Preferred Partnership Units shall be insufficient to pay in full the Liquidation Preference and liquidating payments on any ownership interests in the Partnership that are on a parity with the Series D Preferred
Partnership Units, then such assets, or the proceeds thereof, shall be distributed among the Series D Preferred Partnership Units and any such ownership interests in the Partnership on the same parity as the Series D Preferred Partnership Units,
ratably in the same proportion as the respective amounts that would be payable on such Series D Preferred Partnership Units and any such other ownership interests in the Partnership on the same parity if all amounts payable thereon were paid in
full. After payment in full of the Liquidation Preference, the Series D Preferred Partnership Units shall have no right or claim to any of the remaining assets of the Partnership. For the purposes of this Section 4, (i) a consolidation or
merger of the Partnership with one or more partnerships, or (ii) a sale or transfer of all or substantially all of the Partnership’s assets shall not be deemed to be a liquidation, dissolution or winding up, voluntary or involuntary, of
the Partnership. 
 5. Redemption. 

Series D Preferred Partnership Units shall be redeemable by the Partnership as follows: 

(a) At any time that the General Partner exercises its right to redeem all or any of the Series D Preferred Shares, the General Partner shall
cause the Partnership to concurrently redeem an equal number of Series D Preferred Partnership Units, at a redemption price per Series D Preferred Partnership Unit payable in cash and equal to the same price per share paid by the General Partner to
redeem the Series D Preferred Shares (i.e., a redemption price of $2,500.00 per Series D Preferred Share, plus any accrued and unpaid dividends thereon). No interest shall accrue for the benefit of the Series D Preferred Partnership Units to be
redeemed on any cash set aside by the Partnership. 
 (b) If the Partnership shall redeem Series D Preferred Partnership Units pursuant to
paragraph (a) of this Section 5, from and after the redemption date (unless the Partnership shall fail to make available the amount of cash necessary to effect such redemption), (i) except for payment of the redemption price, the
Partnership shall not make any further distributions on the Series D Preferred Partnership Units so called for redemption, (ii) said units shall no longer be deemed to be outstanding and (iii) all rights of the holders thereof as holders
of Series D Preferred Partnership Units of the Partnership shall cease except the rights to receive the cash payable upon such redemption, without interest thereon. 

(c) If fewer than all the outstanding Series D Preferred Partnership Units are to be redeemed, units to be redeemed shall be determined pro
rata or by lot. Upon any such redemption, the General Partner shall amend Exhibit A to the Agreement as appropriate to reflect such redemption. 

 6. Status of Reacquired Units. 

All Series D Preferred Partnership Units which shall have been issued and reacquired in any manner by the Partnership shall be deemed
cancelled. 
 7. Ranking. 

The Series D Preferred Partnership Units shall be deemed to rank: 

(a) senior to all existing Partnership Interests; 

(b) senior to any class or series of ownership interests in the Partnership, as to the payment of distributions and as to distributions of
assets upon liquidation, dissolution or winding up, if such class or series is hereafter issued in connection with the future issuance by the General Partner of common stock or any other equity securities ranking junior to the Series D Preferred
Shares; 
 (c) on a parity with any class or series of ownership interests in the Partnership, as to the payment of distributions and as to
distributions of assets upon liquidation, dissolution or winding up, if such class or series is hereafter issued in connection with the future authorization or designation by the General Partner of equity securities, the terms of which specifically
provide that such equity securities rank on a parity with the Series D Preferred Shares; and 
 (d) junior to any class or series of
ownership interests in the Partnership, as to payment of distributions and as to distribution of assets upon liquidation, dissolution or winding up, if such class or series is hereafter issued in connection with the future authorization or
designation by the General Partner of equity securities, the terms of which specifically provide that such class or series ranks senior to the Series D Preferred Shares. 

The term “ownership interests in the Partnership” does not include convertible debt securities issued in the future by the
Partnership, which will rank senior to the Series D Preferred Partnership Units prior to conversion. All Series D Preferred Partnership Units shall rank equally with one another and shall be identical in all respects. 

8. Special Allocations. 

Notwithstanding Sections 6.1.A and B of the Agreement, after giving effect to the special allocations set forth in Section 1 of
Exhibit C to the Agreement, each year gross income of the Partnership shall be allocated first to the General Partner until the cumulative amount allocated under this Section 8 to the General Partner for the current year and all prior
years is equal to the cumulative amount for the current year and all prior years of the sum of (A) the distributions made to the General Partner under Section 3 of this Exhibit I, (B) the portion of the distributions made to
the General Partner under Section 5 of this Exhibit I (if any) that exceeds $2,500 per Series D Preferred Partnership Unit and (C) for the year in which a distribution is to be made to the General Partner under Section 4 of
this Exhibit I, the portion of the Liquidation Preference payable to the General Partner under Section 4 (if any) that exceeds $2,500 per Series D Preferred Partnership Unit. Any remaining Net Income or Net Loss shall be allocated as set
forth in Sections 6.1.A and B of the Agreement. 

 9. Restrictions on Ownership. 

The Series D Preferred Partnership Units shall be owned and held solely by the General Partner. 

10. Conversion. 
 Series
D Preferred Partnership Units are not convertible into or exchangeable for any other property or securities of the Partnership, except to the extent that the holders of the Series D Preferred Shares convert the Series D Preferred Shares into shares
of the General Partner’s common stock, in which case, for each Series D Preferred Share being converted, the Partnership shall convert one Series D Preferred Partnership Unit into a number of Partnership Units equal to the number of shares of
the General Partner’s common stock into which each Series D Preferred Share is converted. If the holders of the Series D Preferred Shares receive cash, securities or other property upon conversion of the Series D Preferred Shares, an equal
number of Series D Preferred Partnership Units shall also convert into such cash, securities or other property. 
 11. General. 

(a) The General Partner shall have a zero percent Partnership Interest with respect to the Series D Preferred Partnership Units and shall have
no voting rights with respect to the Series D Preferred Partnership Units other than the right to vote on an amendment to the Agreement if it would alter the distribution, redemption or liquidation rights of the Series D Preferred Partnership Units
or any other rights or preferences of the Series D Preferred Partnership Units as set forth in this Exhibit I. 
 (b) The Series D
Preferred Partnership Units shall not be entitled to the benefits of any retirement or sinking fund. 
 (c) The Series D Preferred
Partnership Units shall not have any preferences or other rights, voting powers, restrictions, limitations as to distributions, qualifications or terms or conditions of redemption other than as expressly set forth in this Exhibit I. 

(d) No holder of Series D Preferred Partnership Units shall have any preemptive or preferential right to subscribe for, or to purchase, any
additional ownership interests in the Partnership of any class or series, or any other security of the Partnership which the Partnership may issue or sell. 

(e) The ownership of Series D Preferred Partnership Units may (but need not, in the sole and absolute discretion of the General Partner) be
evidenced by one or more certificates. The General Partner shall amend Exhibit A to the Agreement from time to time to the extent necessary to reflect accurately the issuance of, and subsequent redemption, or any other event having an effect
on the ownership of, Series D Preferred Partnership Units. 

 (f) The rights of the General Partner, in its capacity as holder of the Series D Preferred
Partnership Units, are in addition to and not in limitation of any other rights or authority of the General Partner in any other capacity under the Agreement or applicable law. In addition, nothing contained herein shall be deemed to limit or
otherwise restrict the authority of the General Partner under the Agreement, other than in its capacity as holder of the Series D Preferred Partnership Units. 

(g) If any preferences or other rights, restrictions, distributions, qualifications, allocations or terms or conditions of redemption of the
Series D Preferred Partnership Units set forth in this Exhibit I are invalid, unlawful or incapable of being enforced by reason of any rule of law or public policy, all other preferences or other rights, restrictions, distributions,
qualifications, allocations or terms or conditions of redemption of Series D Preferred Partnership Units set forth in this Exhibit I which can be given effect without the invalid, unlawful or unenforceable provision thereof shall,
nevertheless, remain in full force and effect and no preferences or other rights, restrictions, distributions, qualifications, allocations or terms or conditions of redemption of the Series D Preferred Partnership Units herein set forth shall be
deemed dependent on any other provision thereof unless so expressed therein. 
 (h) The headings of the various subdivisions of this
Exhibit I are for convenience only and shall not affect the interpretation of any of the provisions hereof.

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