Document:

Lease Agreement

  
 Exhibit 10.1

  
 LEASE AGREEMENT 
  
 THIS LEASE made as of the 22nd day of June, 2004 between AMERIPATH, INC. a Delaware Corporation, hereinafter referred to as “Lessee”, and 7111 FAIRWAY, L.L.C. a Florida Limited
Liability Company, hereinafter referred to as “Lessor”. 
  
 WITNESSETH 
  
 A. DESCRIPTION OF PREMISES:

  
 For and in consideration of the covenants and agreements herein contained,
Lessor hereby leases to Lessee and Lessee rents from Lessor subject to the terms, covenants and conditions of this Lease those certain Premises (the “Premises”) constructed or to be constructed as outlined on the Floor Plan attached hereto
as Addendum A and made a part hereof which is known as Suite #400 being deemed to contain for all purposes under this lease 22,525 “rentable square feet” computed in accordance with the last sentence of this Paragraph A, on the Fourth
floor of the building located at 7111 Fairway Drive, Palm Beach Gardens, Florida 33418. The “rentable square footage” of the Premises shall be deemed to be 22,525 square feet for all purposes under this lease. The parties acknowledge that
exact measurement is not possible and agree that the “Rentable Square Footage” of the Premises shall be as stated above, notwithstanding any measurements to the contrary. 
  
 B. TERM: 
  
 The term of this Lease shall be for Five (5) years, commencing on October 1, 2004 (the Estimated Completion Date” for improvements to the Lessee’s Premises) or
such earlier date if Lessee takes possession of the Premises prior thereto, and ending at 5:00 P.M. on September 31,2009, subject to prior termination or extension pursuant to the terms contained herein and the applicable provision of Florida law.
In the event the Premises are not completed by the Estimated Completion Date as a result of Lessor’s failure to complete its work as described on Addendum B, the commencement of rent shall be as specified in Section 6, of the Standard Lease
Provisions. 
  
 C. BASE RENT: 
  
 Subject to adjustments in the amount of Base Rent for each Lease Year (as hereinafter
defined in Section 1 of the Standard Lease Provision hereof) Lessee agrees to pay Base Rent to the Lessor at c/o Merin Hunter Codman, Inc. at 1601 Forum Place, Suite 200, West Palm Beach, Florida 33401, or at such place as may be designated from
time-to-time by Lessor. As used hereinafter in this Lease, the term “Base Rent” shall include the Premises Base Rent and the Parking Space Rent, collectively, as such amounts are adjusted for each Lease Year, as provided in the Lease.

  
 1. The annual amount of Four Hundred Twenty Seven Thousand
Nine Hundred Seventy Five and 00/100 ($427,975.00) Dollars plus sales tax thereon as Base Rent for the Premises, payable in equal consecutive monthly installments in advance, on the first day of each month during the term of this Lease (hereinafter
referred to as the “Premises Base Rent”). 
  
 2. The
Base Rent shall be payable in lawful money of the United States, without any setoff or deduction. 
  
 3. The Base Rent shall be adjusted in accordance with Addendum “G” (Base Rent Schedule) attached hereto and made a part of this Lease.

  
 D. OPERATING EXPENSES: 
  
 1. Subject to adjustment each year during the term of this Lease, the
estimated Operating Expenses payable by Lessee to Lessor during the first year of the term hereof shall be in the amount of One Hundred Sixty Three Thousand Three Hundred Six and 25/100 ($163,306.25) Dollars plus sales tax in lawful money of the
United States payable in accordance with the terms set forth hereinafter, concurrently with the payment of Base Rent. Operating Expenses shall constitute additional Rent for all purposes under the Lease. Lessee’s proportionate share is 26.65%
of Operating Expenses. 
  
 2, The Operating Expenses shall be
payable in lawful money of the United States, without any setoff or deduction. 
  
 E. PREPAID RENT: 
  
 1, Upon execution of this Lease,
Lessee agrees to deliver to Lessor One Hundred Ten Thousand Four Hundred Sixty Eight and 60/100 ($110,468.60) Dollars as a Prepaid Rent to be applied towards the first and last month’s Base Rent and Operating Expenses, including sales tax
(“Prepaid Rent”). 
  
 F. SECURITY DEPOSIT: 
  
 1. Upon execution of this Lease, Lessee agrees to deliver to Lessor Fifty
Eight Thousand Two Hundred Thirty Eight and 77/100 ($58,238.77) Dollars as a Security Deposit (“Deposit”) to be applied as set forth in Section 9 of the Standard Lease Provisions. 
  

 1 

 G. USE OF PREMISES: 
  
 The Lessee covenants that the Premises shall be used and occupied only for general offices and for no other purposes. 
  
 H. STANDARD LEASE PROVISIONS: 
  
 This Lease includes the Standard Lease Provisions containing Sections numbered 1 through 49 and the Addenda A B, C, D, E, F, G, H, I, and
J which are attached hereto and by this reference incorporated into the Lease. Each of the preceding Paragraphs A through G is subject to the Standard Lease Provisions and Addenda. 
  
 IN WITNESS WHEREOF, the parties hereto caused this Agreement to be executed on 
  

											
	 Witnesses:
	 	/s/    STEPHEN A.
DILLEMUTH        	 	 	 	 Lessee:
	 	AMERIPATH, INC., a Delaware corporation	 	 
						
	 	 	Stephen A. Dillemuth	 	 	 	 By:
	 	/s/    DAVID L. REDMOND        	 	(seal)
						
	 Witnesses:
	 	/s/    BOB COPELAND        	 	 	 	 Official Title:
	 	EVP & CFO	 	 
	 	 	Bob Copeland	 	 	 	 	 	 	 	 
	 	 	 (As to Lessee)
	 	 	 	 	 	 	 	 
						
	 Witnesses:
	 	/s/    MALIKA BASNEER        	 	 	 	 Lessor:
	 	 Seavest, Inc., Agent for
 7100 FAIRWAY L.L.C., a Florida limited
 liability company
	 	 
						
	 	 	Malika Basneer	 	 	 	By:	 	/s/    Illegible        	 	(seal)
						
	 Witnesses:
	 	/s/    MARGARET CANTOR        	 	 	 	 Official Title:
	 	V.P.	 	 
						
	 	 	Margaret Cantor	 	 	 	 	 	 	 	 

  

 2 

  
 STANDARD LEASE PROVISIONS

  

	1.	DEFINITIONS 

  
 A. Not Used. 
  
 B. “Common Area” means
all portions of the Real Property which are intended for the common use and enjoyment of all tenants, including without limitation, the lobby area, all hallways, stairways, elevators and rest rooms within the Building, the parking garage, the
parking areas, and all driveways, walkways and landscaped areas within the Real Property. 
  
 C. “Lease Year” means each calendar year during the term of this Lease. 
  
 D. “Lessee’s Proration Percentage” represents the proportion that the rentable square footage of the Premises bears to the rentable square footage of the
Building. The rentable square footage of the Building is the sum of the rentable square footage of all premises, (leased or unleased) in the Building, and for all purposes under this Lease shall be conclusively deemed to be 84,522 square feet. The
rentable square footage of the Premises is set forth in Paragraph A on page 1 of this Lease and the proration percentage is as specified in Paragraph D on page 1 of this Lease. 
  
 E. “Operating Expenses” means and includes: (a) all reasonable expenses paid or incurred by Lessor for maintaining, operating and
repairing the Real Property, the office tower and all other systems and components of the building of which the Premises are a part (hereinafter called the “Building”), and other parking areas, the curbs, sidewalks and plazas adjoining the
same, including but not limited to the cost of painting, cleaning, refurbishing, recarpeting, redecorating, gardening, planting, seeding and maintenance of landscaped areas, trash removal, drain maintenance, security guard service, exterior
maintenance of the improvements, window cleaning, janitorial service, uniforms, management fees, asset management fees, supplies and sundries; (b) utility expenses incurred by Lessor in furnishing utility services for the Real Property, including
the cost of electricity, gas or other fuel, heating, lighting, air-conditioning, sewer and waste water service and general surface drainage; (c) those expenses paid or incurred by Lessor for insurance, including but not limited to fire, extended
coverage, liability, workers compensation, elevator, or any other insurance carried in good faith by Lessor and applicable to the Real Property; and which are normally in place in comparable properties in Florida, or without limitation, are
required by any party who holds a mortgage on the Real Property, (d) the cost of rental of all supplies, tools, materials and equipment, including expenses paid or incurred by Lessor for sales or use taxes on supplies or services; (e) to the
extent equitably apportioned to the Real Property if relating to more than one property, the cost of wages and salaries of all persons engaged in the operation, maintenance and repair of the Real Property, and so-called fringe benefits, including
social security taxes, unemployment insurance taxes, cost for providing coverage for disability benefits, cost of any pensions, hospitalization, welfare or retirement plans, or any other similar or like expenses incurred under the provisions of any
collective bargaining agreement, or any other cost of expense which Lessor pays or incurs to provide benefits for employees so engaged in the operation, maintenance and repair of the Real Property; (f) to the extent reasonably necessary to
supplement the work of the employees covered by item (e) above, the charges of any independent contractor who, under contract with Lessor or its representatives, does any of the work of operating, maintaining or repairing the Real Property,
including without limitation the charges for services, materials and supplies furnished in connection with the operation, maintenance or repair of any part of the Building or the heating, air-conditioning, ventilating, plumbing, roofing, electrical,
elevator and other systems of the Building; (g) depreciation of hand tools and other moveable equipment used in the repair, maintenance or operation of the Real Property; (h) legal, accounting, and other professional expenses incurred in connection
with the operation, maintenance and management of the Real Property, including, but not limited to, such expenses as relate to seeking refunds of or obtaining reductions in the taxes; (i) the amortized portion of the cost of any capital improvement
or alteration made to the Real Property which is either required by any law first enacted after the Commencement Date (or governmental regulation first enacted after the Commencement Date) or intended by Lessor to reduce operating costs or expenses,
it being understood that such amortization shall be in accordance with generally accepted accounting principles, over the useful, life of such capital improvement or alteration and include interest at the prime rate in effect on the date of
installation of the capital improvement; (j) reasonable reserves as determined by Lessor to be necessary for the efficient operation, management and repair of the Premises and the Building to the extent such reserves relate to Operating Expenses
that are reasonably anticipated to be incurred during the Term or the renewal term specified in Addendum H, clause 1; (k) all real estate taxes, assessments, sewer rents, rates and charges, transit taxes, taxes
based upon the receipt of rent, including the sales taxes of other governmental taxes, fees or charges on account of rent and any other federal, state, city, county or other local governmental charges or charges by any school, drainage or other
special improvement district, general, special, ordinary or extraordinary (but not including income taxes or any other taxes imposed upon or measured by Lessor’s income or profits, unless the same shall be imposed in lieu of real estate taxes),
which may now or hereafter be levied or assessed against the Real Property (hereinafter the “Taxes”); and (l) all assessments to Lessor arising under the Declaration. In case of special taxes or assessments which may be payable in
installments, only the amount of each installment paid during a Lease Year shall be included in Taxes for that Lease Year. Taxes shall also include any personal property taxes imposed upon the furniture, fixtures, machinery, equipment, apparatus,
systems, and appurtenances used in connection with the Real Property for the operation thereof. The amount of Taxes attributable to any Lease Year shall be the amount of Taxes payable in such year, notwithstanding that in each case the assessments
for such Taxes may have been made for a different year or years than the year in which payable; and (m) any other reasonable expense or charge, whether or not hereinbefore mentioned, which in accordance with generally accepted accounting and
management principles would be considered as an expense of maintaining, operating, or repairing the Building. If any Operating Expense, though paid in one (1) year, relates to more than one (1) calendar year, at the option of Lessor such expense may be proportionately allocated among such related calendar years. If during any calendar year any rentable
space in the Building shall be vacant or unoccupied, at Lessor’s option, the Operating Expense for such calendar year shall be adjusted to reflect the expenses that would have been incurred if such space had been occupied. 
  

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 The purpose of the immediately preceding sentence is to “gross-up” Operating Expenses that vary by occupancy
and shall not result in any profit to Lessor (i.e., Lessor shall not recover more than 100% of Operating Expenses by operation of the foregoing sentence). Any Operating Expense(s) shared by more than one building or property shall be equitably
apportioned among all such buildings and properties. 
  
 Notwithstanding the
above, the following are excluded from the definition of Operating Expenses; (a) real estate broker’s leasing commission; (b) depreciation (except as provided above), interest on the amortization of debt (except as provided above); (c)
leasehold improvements made for new tenants of the Building; (d) refinancing costs; and (e) the cost of any work or services performed for any tenants of the Building to the extent that such work or service are separately reimbursed and (f) those
items specified in Addendum J. 
  
 F. “Unity of Control” The building in
which the Premises is located (“Building”) has been developed in an office park (“Office Park”) containing two office buildings and other appurtenant facilities including, without limitation, the paths, sidewalks, benches,
roadways, drives, vehicular and pedestrian circulation areas, parking areas, common signage, utility facilities, patio areas and lakes, lawns, landscaped areas, exterior lighting facilities and similar common elements of the Office Park
(“Common Areas”). The Building is subject to that certain Declaration of Unity of Control recorded in Official Record Book 12926, Page 1269 Public Records of Palm Beach County, Florida (the “Unity of Control”) (see Addendum
“I”) and that certain Declaration of Covenants, Conditions, Easements and Restrictions recorded in Official Record Book 13082, Page 1790, Public Records of Palm Beach County, Florida (the “Declaration”)(see Addendum
“I”), copies of which has been provided to you by the Lessor. The Unity of Control provides among other things for the right of perpetual non-exclusive access to the Common Areas. The Declaration provides among other things for (i)
Maintenance Obligations of the owner of the Building and the second office building in the Office Park; (ii) non-exclusive easements for the benefit of both buildings in the Office Park and their tenants, including parking, ingress and egress to the
Common Areas; and (iii) shared assessments to each of such building owners for the annual costs and expenses of the management, maintenance, operation, repair and replacement of the Common Areas, and for Special Assessment for certain specified
events. 
  
 G. “Real Property” means the Building, the land and real
property owned or leased by Lessor upon which the Building stands or which is adjacent thereto, and used in connection with the operation of the Building and its common areas. 
  

	2.	BASE RENT 

  
 A. The Base Rent set forth in Paragraph C on the cover page of this Lease shall be adjusted at the commencement of each Lease Year in accordance with the schedule in Addendum G. 
  

	3.	OPERATING EXPENSES 

  
 A. In addition to the Base Rent, as annually adjusted, Lessee shall pay to Lessor during each Lease Year, including the calendar year in which the Lease term expires, Lessee’s share of the Operating Expenses for
the Lease Year. Lessee’s share of Operating Expenses shall be computed by multiplying the amount of the Operating Expenses by Lessee’s Proration Percentage. 
  
 B. On or about the commencement of each Lease Year, Lessor shall provide Lessee with a written estimate of Lessee’s share of the
Operating Expenses for the forthcoming Lease Year. Lessee shall thereafter pay to Lessor, concurrent with the payment of Base Rent during the Lease Year, one-twelfth (1/12) of Lessee’s share of the Operating Expenses, as set forth on
Lessor’s written estimate. In the event that Lessor revises its estimate of Lessee’s share of the Operating Expenses, or if Lessor furnishes such estimate subsequent to the commencement of a Lease Year, Lessor shall furnish to Lessee a
statement of any adjustments to be paid or refunded as a result of such revision or late estimate, which adjustment shall, be paid with, or credited against, the next monthly payment by Lessee of its share of Operating Expenses or, paid directly to
Lessee if a credit is due following Lease expiration. Failure of Lessor to submit the written estimate shall not waive any rights of Lessor hereunder. 
  
 C. No later than April 1 of each Lease Year, Lessor shall submit to Lessee a statement of Lessee’s share of the actual Operating Expenses for the immediately
preceding Lease Year. If Lessee’s share of the actual Operating Expenses exceeds the estimate prepared by Lessor at the commencement of the preceding Lease Year, then Lessee shall pay the difference to Lessor, in a single payment, within
fifteen (15) days after receipt from Lessor of the amount due. In the event that Lessee’s share of the actual Operating Expenses is less than the estimate prepared by Lessor, then the difference shall be credited to Lessee against current
monthly payments of Operating Expenses or, if the term of this Lease has expired or terminated, and Lessee is not then in uncured default under this Lease then Lessor shall reimburse no later than July 1st of the calendar year following such
expiration or termination. 
  
 D. Lessee may examine (and copy, at Lessee’s
expense, for Lessee’s use off-site) Lessor’s records regarding Operating Expenses during normal business hours within ninety (90) days following the issuance to the Lessee of the Statement of Actual Operating Expenses. The Statement of
Actual Operating Expenses (the “Statement”) shall be considered as final and acceptable to Lessee unless Lessee objects to the Statement by written notice to the Lessor within one hundred eighty (180) days following the issuance of the
Statement. It Lessee disputes the accuracy of the Statement, and if such dispute shall not have been settled by agreement between Lessor and Lessee within sixty (60) days of Lessor’s receipt of Lessee’s notice of objection as aforesaid,
the issue shall be conclusively determined by an audit performed by a certified public accounting firm located in Palm Beach County and selected by Lessor but reasonably acceptable to Lessee. Pending resolution of the dispute by the certified public
accountant, Lessee shall pay the amount indicated in the Statement of Actual Operating Expenses, without prejudice to Lessee’s position. If the dispute is resolved in Lessee’s favor, any overpayment due to Lessee shall be credited against
Lessee’s share of the Operating Expenses for the current Lease Year or, paid directly to Lessee if a credit is due following Lease expiration, and Lessor shall pay the cost of the audit. 
  

 4 

 If the dispute shall be determined in Lessor’s favor, Lessee shall pay the cost of the audit, which expenses shall
be deemed to constitute additional Rent hereunder. 
  
 E. The additional building
or buildings may be added to the Real Property. In the event additional building or buildings are added to the Real Property, Lessor reserves the right to reasonably prorate operating expenses attributable to the Real Property between the Building
and other buildings on the Real Property. 
  

	4.	PAYMENT OF RENT 

  
 A. For all purposes under this Lease and under law, the Premises Base Rent as adjusted, the Parking Space Base Rent, as adjusted, Lessee’s share of the Operating Expenses as adjusted, and all other sums due from
Lessee to Lessor under this Lease shall be deemed to constitute Rent, and the term “Rent” as used herein shall be deemed to include all such amounts. 
  

B. Lessee shall pay the Rent to Lessor promptly when due without notice or demand therefor and without any abatement, deduction, counterclaim or setoff for any reason
whatsoever, except as may be expressly provided in this Lease. No payment by Lessee or receipt or acceptance by Lessor of a lesser amount than the correct Rent shall be deemed to be other than the payment on account, nor shall any endorsement or
statement on any check or letter accompanying any payment be deemed an accord or satisfaction and Lessor may accept such payment without prejudice to its rights to recover the balance or pursue any other remedy in this Lease or at law. Lessee’s
obligation to pay the Rent for the full term of this Lease shall survive the expiration or earlier termination of the term hereof. 
  

	5.	LATE PAYMENTS 

  
 If any payment of Rent or other sums due hereunder is received later than the seventh day of the month, a late fee of two hundred ($200.00) dollars shall be paid by Lessee, upon demand by Lessor, for each day beyond
the seventh, unless a lesser rate shall then be the maximum rate permissible by law, in which event, said lesser rate shall be charged. This late fee shall be in addition to and not in exclusion of any other sums payable by Lessee due to
Lessee’s failure to pay when due any sums hereunder. Acceptance of such late charge by Lessor shall in no event constitute a waiver of Lessee’s default with respect to such overdue amount, nor prevent Lessor from exercising any of the
other rights and remedies granted hereunder. 
  

	6.	COMMENCEMENT OF RENT AND TERM 

  
 The term of this Lease and Lessee’s obligation to pay Rent shall commence on the Estimated Completion Date or earlier date, if Lessee assumes possession, as
specified in Paragraph B of this Lease Agreement. However, in the event the Premises have not been completed by the Estimated Completion Date sufficient for a certificate of occupancy (“C.O.”) to have been issued therefor, then the
commencement of Rent shall be postponed until such time as a C.O. for Lessee’s Premises has been issued and the date for expiration of the Lease term shall be similarly postponed by the same number of days between the earlier of the Estimated
Completion Date or the date of possession and the date of issuance of a C.O. Under no circumstances, however, may Lessee enter into possession of the Premises prior to completion of improvements to the Premises by Lessor, except upon the express
written consent of Lessor and subject to any terms of such consent. Should the term of this Lease and the Lessee’s obligation to pay Rent commence on a day other than the first day of a month, then the term of this Lease, for purposes of
calculating the length of term only, shall commence on the first day of the following month, but Lessee shall nevertheless be subject to all terms and conditions of this Lease for the fractional month preceding the commencement of this Lease during
which Lessee is in occupancy. The Lessee shall pay Rent for the fractional month preceding the commencement of this Lease, if the term of this Lease commences on a day other than the first day of a month, on a per diem basis (calculated on the basis
of a thirty-day month) payable on commencement of the term of this Lease. Prepaid first month’s rent to be credited to any fractional payment. Any Rent payment hereunder for any other fractional month shall likewise be calculated and paid on
such per diem basis. 
  
 Lessor shall not unreasonably withhold its consent for
Lessee or its vendors to enter the Premises within thirty (30) days of the anticipated occupancy date for the purposes of readying the Premises for occupancy subject to the terms of Addendum “D”, however, in no case, shall Lessor be held
liable for any damage or delays caused by such entry. Such entry shall not constitute possession of the Premises, or conduct of business by Lessee within the Premises, for purposes of Section (B) above, Section (6) above or for triggering the
Commencement Date of this Lease. 
  

	7.	CONSTRUCTION OF LEASED PREMISES 

  

	A.	Lessor’s Work. Lessor agrees that it will supply, at its own expense, the work described and set forth on Addendum B, annexed hereto and made a part hereof (“Lessor’s
Work”). Lessor shall contribute not more than Five Hundred Forty Two Thousand Three Hundred Eighty Eight and No Cents Dollars ($542,388.00) (the “Allowance”) towards all costs associated with Lessor’s Work which costs shall
include, but not be limited to, architectural and engineering fees, labor, materials, and permits, and the Lessor’s construction management fee of five (5%) percent. In the event the plans and construction requirements shown on the plan
in Addendum B require materials and labor or other costs beyond the scope specified in Addendum B, or to the extent total costs of said work exceeds the Allowance (“Excess Costs”), these Excess Costs shall be payable to the Lessor by the
Lessee as follows: Fifty Percent (50%) of the estimated Excess Costs prior to commencement of Lessor’s Work and the balance of all Excess Costs upon the issuance of a Certificate of Occupancy for the Premises. 

  

 5 

 Lessee may elect to amortize not more than Sixty Eight Thousand Eight Hundred Dollars ($68,000.00) of
Excess Costs (“Amortized Excess Costs”) over the term of the Lease and pay such Amortized Excess Costs in monthly installments of $20.28 per $1,000.00 amortized, together with Rent as Additional Rent for the entire term of the Lease. Under
no circumstances shall Lessee occupy the Premises prior to making full payment to Lessor of all Excess Costs not amortized as noted above. 
  
 Lessor’s Work will be performed by Lessor in compliance with the following: 
  
 (i) The Lessor’s Work shall be diligently performed by Lessor and prosecuted to completion in a good and workmanlike
manner, in compliance with all applicable laws, ordinances, codes, regulations and covenants. 
  
 (ii) Lessor shall solicit at least three (3) bids from general contractors selected by Lessor and approved by Lessee, approval shall not be unreasonably withheld, and Lessor and Lessee shall jointly select the
winning bid or bids. All contractors from whom bids are solicited must be properly licensed, experienced and insured. Lessor shall then engage the contractors so selected pursuant to industry-standard contracts. 
  
 (iii) Lessor shall be responsible for filing the plans for Lessor’s
Work with, and obtaining any permits and inspections as needed from time to time, from the appropriate governmental authorities. 
  
 (iv) Upon substantial completion of the Lessor’s Work, Lessee and Lessor shall inspect the Premises and generate a list of “punch-list”
items, if any, which punch list items Lessor agrees to complete within a reasonable time thereafter. 
  
 (v) During the performance of the Lessor’s Work and thereafter, Lessor shall enforce all available warranties and shall permit Lessee to enforce any
such warranties directly at Lessee’s option. 
  
 (vi) After
the date of this Lease, any changes or upgrades to the approved plans shall be mutually agreed upon in writing by both Lessor and Lessee. 
  
 B. Lessee’s Work. Lessee agrees to perform all other work, at its own cost and expense, (“Lessee’s Work), which is necessary to make the Premises conform
with Lessee’s plans as approved by Lessor. 
  
 If Lessee is performing work
beyond the scope of work shown in Addendum B prior to Lease Commencement then within thirty (30) days after the execution of this Lease, Lessee shall furnish to Lessor, for Lessor’s written approval, plans and specifications showing a layout,
fixturing plan, interior finish, and any work to be done or equipment installed by Lessee affecting any structural, mechanical or electrical part of the Premises or the Building or the installation of which may delay Lessor’s completion of
Lessor’s work. Lessee shall not commence any of Lessee’s Work, or any subsequent alterations or improvements to the Premises, until Lessor has approved Lessee’s plans and specifications for same. It is the purpose of this requirement
that Lessee’s Premises be fixtured and laid out so as not to be detrimental to the other premises adjoining the same. The purpose of the Floor Plan attached hereto as Addendum “A” is to show the approximate location of the Premises.
The Lessor reserves the right, at any time, to add to or reduce or to relocate the various improvements, automobile parking areas, and other common areas as shown on the Floor Plan so long as same does not materially, adversely impact Lessee’s
use and enjoyment of, or access to, the Premises. 
  

	8.	ACCEPTANCE BY LESSEE 

  
 Lessee agrees that the issuance of a C.O. for the improvements constructed by Lessor pursuant to Addendum B shall be deemed an acceptance of the Premises
in its then existing condition with the exception of minor “punch list” items to be performed by Lessor. Lessor’s warranty for Lessor’s work shall reflect warranties provided by Lessor’s vendors performing Lessor’s
Work. 
  

	9.	SECURITY DEPOSIT 

  
 A. Amount of Deposit. Lessee, simultaneously with the execution of this Lease, has deposited with the Lessor the sum stated in Paragraph F of the cover page of this Lease, receipt of which is hereby acknowledged by
Lessor. The Deposit shall be held by Lessor. The Deposit may be commingled with other funds of Lessor, and Lessor shall have no liability for the accrual or payment of any interest thereon. If at any time during the term of this Lease any of the
Rent herein reserved shall be overdue and unpaid beyond any applicable notice, cure or grace periods, or any other sum payable by Lessee to Lessor hereunder shall be overdue and unpaid beyond any applicable notice, cure or grace periods, then Lessor
may, at the option of Lessor, appropriate and apply all or any portion of said deposit to the payment of any such overdue Rent or other sum. 
  
 B. Use and Return of Deposit In the event of the failure of Lessee to keep and perform any of the terms, covenants and conditions of this Lease to be kept and performed
by Lessee beyond any applicable notice, cure or grace periods, then the Lessor, at its option, may appropriate and apply the Deposit or so much thereof as Lessor may deem necessary, to compensate the Lessor for all loss, cost, expense or damage
sustained or suffered by Lessor due to such default or failure on the part of the Lessee. Should the entire Deposit or any portion thereof, be appropriated and applied by Lessor as permitted hereby, then Lessee shall, upon the demand of Lessor,
forthwith remit to Lessor a sufficient amount in cash to restore the Deposit to the original sum deposited, and Lessee’s failure to do so within fifteen (15) days after receipt of such demand shall constitute a default of this Lease. Should
Lessee comply with all of said terms, covenants and conditions and promptly pay all of the Rent and additional rent herein provided for as it falls due, and all other sums payable by Lessee to Lessor hereunder, the Deposit shall be returned in full
to Lessee within a reasonable time (not to exceed 90 days) following the expiration of the term of this Lease, or the earlier termination hereof. 
  

 6 

 C. Transfer of Deposit. Lessor may deliver the Deposit to the purchaser of Lessor’s interest in the Premises, in the
event that such interest be sold, and thereupon Lessor shall be discharged from any further liability with respect to the Deposit. 
  

	10.	USE OF COMMON AREAS 

  
 The use and occupation by Lessee of the premises shall include the non-exclusive use, in common with others entitled thereto, of the hallways, elevators, toilets, stairways, entrance ways, grounds, loading facilities,
sidewalks and customer car parking areas (hereinafter collectively “common areas”) as such common areas now exist or as such common areas may hereafter be constructed for the benefit of and as a part of the Building, and other facilities
as may be designated from time to time by the Lessor, subject, however, to the terms and conditions of this Lease and to the Rules and Regulations for the use thereof as set forth in Addendum C hereto and by this reference incorporated herein as
covenants of this Lease, and as may be reasonably prescribed from time to time by the Lessor so long as same are generally adopted for all tenants of the Building and Lessor uses commercially reasonable efforts to enforce said rules and regulations.

  

	11.	USE OF PREMISES 

  
 Lessee hereby covenants to use and occupy the Premises for the sole and exclusive purpose of operating as set forth in Paragraph “F” on the cover page, and for no other use or purpose whatsoever without the
Lessor’s prior written consent which may be withheld at the sole discretion of Lessor. Lessee covenants not to use or maintain the Premises in any unlawful manner or for any unlawful purposes, and shall promptly comply with any and all laws,
ordinances, order, and regulations of any and all municipal, county, state, federal, and other governmental authorities that may pertain or apply to Lessee’s occupancy, use or business operations on the Premises at Lessee’s sole cost and
expense, including, but not limited to, any and all energy or fuel conservation orders or regulations promulgated by any government authority. Notwithstanding anything to the contrary set forth hereinabove, Lessee shall not be obligated to make
alterations to the Building or the Premises to comply with any such laws, ordinances, order, or regulations if same were promulgated on or before the Commencement Date, nor shall Lessee be obligated to make any alterations to comply with any such
laws, ordinances, order, and regulations which are promulgated after the Commencement Date unless they are applicable to the Premises because of Lessee’s unique or particular type of use (as opposed to being applicable to occupied space in
general) or as a result of any improvements, alterations, additions or improvements made by or on behalf of Lessee. 
  
 Lessee shall, additionally, in its use of the Premises comply with the Rules and Regulations as set forth in Addendum C hereof, and as may be prescribed from time to time
by Lessor for the safety and order of the Property so long as same are generally adopted for all tenants of the Building and Lessor shall use commercially reasonable efforts to enforce said rules and regulations. Lessee shall make no use whatever of
the Premises that would cause an increase in the fire insurance rate applicable to the Building upon the commencement of the term of this Lease and shall not do or permit to be done any act or thing which might subject Lessor to any liability or
responsibility for injury to any person or persons or to any property by reason of any business or operation being conducted on the Premises that is inconsistent with the ordinary activities of office tenants at the Building and in buildings
comparable to the Building in the same market. Other than ordinary office and cleaning supplies, Lessee shall not bring any flammable material or substances or any articles of a dangerous nature or any heating or cooking units (other than small,
non-commercial appliances installed in Lessee’s breakroom) into the Building or the Premises without the prior written consent of Lessor. No safes, heavy files, bookcases or other heavy equipment shall be allowed in the Building unless the
weight, location and handling of the same is approved by the Lessor. Regardless of such approval, Lessee agrees to indemnify, defend and save Lessor harmless from all expenses and other damages, including attorneys fees and costs, incurred by Lessor
resulting from the use or installation by Lessee of such heavy equipment in the Building, which indemnification shall survive the expiration or earlier termination of this Lease. Lessee shall not cause or permit any noise or odor that is
objectionable to the public, to other occupants of the Building, or to Lessor, to emanate from the Premises and shall not create or maintain a nuisance thereon, and shall not disturb, solicit, or canvas any occupant of the Building, and shall not do
any act tending to injure the reputation of the Building or the Premises. Other than ordinary office and cleaning supplies, Lessee shall not use, create, store or permit any toxic or hazardous material anywhere on the Real Property. Without limiting
the foregoing, Lessee shall not dispose of any toxic or other hazardous waste through the plumbing system in the Building, or through the storm drainage system of the Real Property, nor shall Lessee violate any requirements of the Florida Department
of Environmental Regulation or the Florida Department of Health, or any other governmental agency, with respect to waste disposal, Lessee agrees to indemnify, defend and save Lessor harmless from all expenses and other damages incurred by Lessor as
a result of improper waste disposal by Lessee, which indemnification shall survive the expiration or earlier termination of this Lease. Lessee shall not cause or maintain any nuisance in or about the Premises, shall keep the Premises free of food or
other materials that will attract rodents or vermin, and shall keep the Premises free of anything of a dangerous, noxious, or offensive nature or which could create a fire hazard (through undue load on electrical circuits or otherwise) or undue
vibration, heat, or noise. 
  

	12.	ALTERATIONS 

  
 Lessee shall make no changes in or to the Premises of any nature without Lessor’s prior written consent, which consent may not be unreasonably withheld, conditioned or delayed. Lessee shall conduct all
alterations and improvements in a merchantable manner, subject to the prior written consent of Lessor. Any Lessee alterations, additions or improvements shall only be permitted, if at all, where such improvements are non-structural and which do not
affect utility services or plumbing and electrical lines, in or to the interior of the Premises by using contractors or mechanics first approved by Lessor which consent shall not be unreasonably withheld. All alterations shall be performed subject
to Addendum “D”. 
  

 7 

 All fixtures and all paneling, partitions, railing and like installations, installed in the Premises at any time, either
by Lessee or by Lessor on Lessee’s behalf, shall, upon installation, become the property of Lessor and shall remain upon and be surrendered with the Premises unless Lessor by notice to Lessee no later than sixty (60) days prior to the date
fixed as the termination of this Lease, elects to relinquish Lessor’s right hereto and to have them removed by Lessee, in which event, the same shall be removed from the Premises by Lessee prior to the expiration of the lease at Lessee’s
expense unless said fixtures were installed pursuant to Addendum “B” of this Lease. Nothing in this article shall be construed to give Lessor title to or to prevent Lessee’s removal from time to time of trade fixtures, moveable office
furniture and equipment, but upon removal of any such items from the Premises or upon removal of other installations as may be required by Lessor, Lessee shall immediately and at its expense, repair and restore any damage occasioned by such removal.
All property permitted or required to be removed by Lessee at the end of the term remaining in the Premises after Lessee’s removal shall be deemed abandoned and may, at the election of Lessor, either be retained as Lessor’s property or may
be removed from the Premises by Lessor at Lessee’s expense. Lessee shall, before making any alterations, additions, installations or improvements, at its expense, obtain all permits, approvals and certificates required by any government or
quasi-governmental bodies and (upon completion) certificates of final approval thereof and shall deliver promptly duplicates of all such permits, approvals and certificates to Lessor and Lessee agrees to carry and will use Lessee’s contractors
and sub-contractors to carry such workers compensation, general liability, personal property and property damage insurance as Lessor may reasonably require. 
  

	13.	SERVICES 

  
 Lessor agrees, except during the existence of an Event of Default by Lessee, to furnish the Premises with air conditioning and heat during the appropriate seasons from 7:00 A.M. to 7:00 P.M., Monday through Friday and
8:00 A.M. to 1:00 P.M. on Saturday of each week excluding legal holidays (those days when the New York Stock Exchange is closed). Lessor agrees to use commercially reasonable efforts to furnish to the Building and the Premises
electricity and cold water sufficient for Lessee’s operations in the Premises. Lessor agrees to supply janitorial and pest control services for the hallways and common areas and for the interior of the Premises substantially in accordance with
Addendum F attached hereto. If, for security or other valid reasons approved by Lessor, Lessee elects to provide separate janitorial and/or pest control services for the interior of the Premises it may do so, provided that the janitorial and/or pest
control service company selected by Lessee shall be subject to the prior written approval of Lessor. Further, in such event, the Lessee shall indemnify, defend and save the Lessor harmless from all claims and damages, including attorney’s fees
and costs, arising out of any acts or omissions of the Lessee’s janitorial and/or pest control service company. Upon request of the Lessor, the Lessee shall post with the Lessor a fidelity bond in form and substance satisfactory to the Lessor,
applicable to all employees of the Lessee’s janitorial and/or pest control service company. The employment of its own janitorial and/or pest control service company shall not entitle the Lessee to any credit against its share of the Operating
Expenses. Lessor shall supply landscaping and maintenance services for the grounds at the Building. Lessor will furnish elevator service, lighting replacement for common area lights, toilet room supplies, common area janitor service daily during the
time and in the manner that such services are customarily furnished in comparable office buildings in Palm Beach County, Florida. All services rendered by Lessor shall be deemed an Operating Expense as aforementioned herein. 
  
 Lessor shall not be liable for any damages direct or indirectly resulting from, nor shall any
Rent herein set forth be abated by reason of (1) installation, use, or interruption of use, of any equipment in connection with the furnishing of any of the foregoing services, or (2) failure to furnish or delay in furnishing, any such services when
such failure or delay is caused by accident or any condition beyond the reasonable control of Lessor or by the making of necessary repairs or improvements to the Premises or to the Building. The temporary failure to furnish any such services shall
not be construed as an eviction of Lessee or relieve Lessee from the duty of observing and performing any of the provisions of this Lease. Notwithstanding anything contained herein to the contrary, should any Lessor supplied service be interrupted
or unavailable due to the gross negligence of Lessor for five (5) or more consecutive business days, Lessee’s Rent shall abate beginning on the fifth (5th ) day services are interrupted or not available and shall continue to be abated until such time services are operational. 
  

	14.	AFTER HOURS SERVICES 

  
 Lessor shall use reasonable efforts to provide electric service and air conditioning and heat, as appropriate, upon reasonable request by Lessee, at times other than those specified in Paragraph 13 of the Lease.
Lessee shall pay Lessor’s charges therefor upon demand, but no sooner than the next installment of monthly rent. The hourly charges shall be as follows: 
  

	 	(i)	$25.00 for each hour or portion thereof applied to each increment of 10,000 rentable sq. ft. or portion of 10,000 rentable sq. ft. for which after hours services are provided.

  

	 	(ii)	The hourly fee may be adjusted by the Lessor in his sole discretion, provided that any increases in the hourly rate do not exceed an annual amount greater than six percent (6%) per
year on a cumulative basis throughout the term of the Lease. 

  
 Notwithstanding, the charges specified herein will not be applicable for such services requested by Lessee if the use of the services occurs during normal building hours as specified above on a legal holiday, except for the following
holidays, on which days Lessee will be charged as specified above: New Years Day, Memorial Day, 4th of July, Labor Day, Thanksgiving, and Christmas Day. 
  
 Lessor’s failure to provide the services provided herein shall not be deemed an event of default nor constructive eviction and the Lessee shall not have any right of
offset in the event delivery of these services during the time specified in this paragraph is interrupted or unavailable for any reason. 
  

 8 

	15.	ASSIGNMENT AND SUBLETTING 

  
 Except as permitted below in the last subparagraph of this Section 15 (collectively, a “Permitted Assignment/Sublease”), Lessee shall not assign the right of occupancy under this Lease or any other interest
therein, or sublet the Premises, or any portion thereof, without the prior written consent of Lessor, which consent shall not be unreasonably withheld, provided that Lessee submits to Lessor a written request to consent no later then 30 days prior
to the effective date of any assignment or sublet. Lessor shall notify Lessee of its consent or withholding of same within 30 days of receipt of Lessee’s written request. Notwithstanding the foregoing, except for a Permitted
Assignment/Sublease, Lessee is absolutely prohibited from subleasing or assigning the Lease without Lessor’s consent, which may be withheld in the Lessor’s sole discretion, to any party who: a) has been presented space for lease in the
Building or Real Property by the Lessor or its agents, and/or employees within the 120 days preceding Lessee’s request to sublease or assign, or b) is an occupant of the Building or Real Property at the time of Lessee’s request to sublet
or assign for whom Lessor then has alternative space available in the Building. Lessor and Lessee agree that it shall not be unreasonable for the Lessor to withhold its consent if the proposed assignee or sublessee would be using the Premises
for a use that is not compatible with the Building. 
  
 Lessee absolutely shall
have no right of assignment or subletting if it is then in default of this Lease beyond the expiration of all applicable grace, notice and/or cure periods. Notwithstanding any assignment of the Lease, or the subletting of the Premises, or any
portion thereof, Lessee shall continue to be liable for the performance of the terms, conditions and covenants of this Lease, including, but not limited to, the payment of Rent. Consent by Lessor to one or more assignments or sublettings shall not
operate as a waiver of Lessor’s rights as to any subsequent assignments and sublettings. Except in connection with a Permitted Assignment/Sublease, Lessor shall have the sole option, which shall be, exercised by providing Lessee with written
notice of terminating the Lessee’s rights and obligations under this Lease rather than permitting any assignment or subletting by Lessee, which must be exercised if within 30 days of Lessee’s request for consent. Except in connection with
a Permitted Assignment/Sublease, should Lessor permit any assignment or subletting by Lessee and should the rentals received lump-sum or over-the term as a result of such assignment or subletting (when compared to the rentals still payable by Lessee
to Lessor) be greater than would have been received hereunder had not Lessor permitted such assignment or subletting, then the excess shall be payable by Lessee to Lessor, it being the parties’ intention that Lessor, and not Lessee, shall be
the party to receive any profit from any assignment or subletting. If there are one or more assignments by Lessee to which Lessor consents, the parties understand and agree, notwithstanding anything to the contrary, that any and all renewal options
to be exercised subsequent to the date of such assignment and any and all options to lease additional space in the Building to be exercised subsequent to the date of such assignment are absolutely waived and terminated at Lessor’s sole option.
The foregoing sentence does not apply to any Permitted Assignment/Sublease. In the event of the transfer and assignment by Lessor of its interest in this Lease and/or sale of the Building containing the Premises, the Lessor shall thereby be released
from any further obligations hereunder, and Lessee agrees to look solely to such successor in interest of the Lessor for performance of such obligations. 
  
 Lessee shall have the right, without Lessor’s consent, to assign this Lease or sublet the leased premises or any part thereof: (i) to any corporation into which or
with which Lessee merges or consolidates, (ii) to any parent of Lessee, subsidiary of Lessee, affiliate of Lessee or other entity under common control with Lessee or Lessee’s parent company, (iii) to any entity which is created or is the
surviving entity in the event of a reorganization or merger, and/or (iv) to any entity that purchases or succeeds to all or substantially all of the assets of Lessee or Lessee’s parent, provided that in each of (i), (ii), (iii) and (iv) above
the assignee (but not any sublessor, for which there shall be no net worth requirement) has a net worth at least equal to Lessee’s at the time of the requested assignment (collectively “Permitted Parties”), and provided further that
any such assignee shall deliver to Lessor a copy of its merger or other certificate documenting any assignment by operation of law or, if not an assignment by operation of law, shall deliver to Lessor a copy of an assignment and assumption agreement
whereby such assignee agrees to assume and perform all of the terms and conditions of this Lease on Lessee’s part from and after the effective date of such assignment. Lessee shall not be released from its liabilities and obligations hereunder
by any such assignment or subletting except for an assignment of this Lease to a Permitted Party. The assignments and subleases permitted pursuant to this subparagraph are herein referred to as “Permitted Assignment/Sublease”. 

 

	16.	DAMAGE BY FIRE OR STORM 

  
 In the event that the Building should be totally destroyed by fire, hurricane, tornado, or other casualty, or in the event the Premises or Building should be so damaged that rebuilding or repairs cannot be completed
within one hundred eighty (180) days after the date of such damage, either Lessor or Lessee may at its option, by written notice to the other given not more than thirty (30) days after the date of such fire or other casualty, terminate this Lease.
In such event, the rent shall be abated during the unexpired portion of this Lease, effective with the date of such fire or other casualty. 
  
 In the event the Building or Premises should be damaged by fire, hurricane, tornado, or other casualty covered by Lessor’s insurance, but only to such extent that
rebuilding or repairs can be completed within one hundred eighty (180) days after the date of such damage, or if the damage should be more serious than described in the prior sentence but neither Lessor nor Lessee elects to terminate the Lease, then
Lessor shall, as soon as reasonably possible, but in no event later than sixty (60) days after the date of such damages, commence to rebuild or repair the Building and/or the Premises and shall proceed with reasonable diligence to restore the
Building and/or the Premises to substantially the same condition in which it was immediately prior to the occurrence of the casualty, except that Lessor shall not be required to restore any alterations to the Premises beyond the Lessor’s Work
originally performed pursuant to Addendum “B”, and Lessor shall not be required to rebuild, repair or replace any part of the furniture, equipment fixtures, and other improvements which may have been placed by Lessee or other tenants
within the Building or Premises. Lessor shall, unless such damage is the result of negligence or willful misconduct of Lessee or Lessee’s employees or invitees, allow Lessee a fair diminution of Rent during the time that the Premises is unfit
for occupancy. 
  

 9 

 In the event any mortgagee, under a deed of trust, security agreement or mortgage on the Building, should require that
the insurance proceeds be used to retire the mortgage debt, Lessor shall have no obligation to rebuild the Building and/or the Premises and this Lease shall terminate upon notice to Lessee. Any insurance, which may be carried by Lessor or Lessee
against loss or damage to the Building or to the Premises, shall be for the sole benefit of the party carrying such insurance and under its sole control. 
  

	17.	EMINENT DOMAIN 

  
 If the whole or a portion of the Building shall be taken for any public or quasi-public use under any statute or by right of eminent domain or private purchase in lieu thereof, then at Lessor’s option, but not
otherwise except as set forth below, the term hereby demised and all rights of Lessee hereunder shall immediately cease and terminate and the Base Rent shall be adjusted as of the date of such termination. Lessee shall be entitled to no part of the
award made for such condemnation (or other taking) or the purchase price thereof; provided, that nothing herein shall prevent Lessee from pursuing any separate award available to it. Nevertheless, notwithstanding anything to the contrary likewise at
Lessor’s option, but not otherwise except as set forth below, if the Premises is unaffected by such condemnation (or other taking), then this Lease and each and every one of its provisions shall continue in full force and effect. 
  
 In the event that any taking as aforesaid renders the Premises unusable by Lessee for the
purposes intended hereby, or results in the elimination of all reasonable means of access and parking, then at Lessee’s option, Lessee shall have the right to terminate this Lease by written notice to Lessor. 
  

	18.	FORCE MAJEURE 

  
 Whenever a period of time is herein prescribed for action to be taken by Lessor, Lessor shall not be liable or responsible for, and there shall be excluded from the computation for any such period of time, any delays
due to strikes, riots, acts of God, shortages of labor or materials, theft, fire, public enemy, injunction, insurrection, court order, requisition of other governmental body or authority, war, governmental laws, regulations or restrictions or any
other similar causes which are beyond the control of Lessor. Whenever a period of time is herein prescribed for action to be taken by Lessee, Lessee shall not be liable or responsible for, and there shall be excluded from the computation for any
such period of time, any delays due to strikes, riots, acts of God, shortages of labor or materials, theft, fire, public enemy, injunction, insurrection, court order, requisition of other governmental body or authority, war, governmental laws,
regulations or restrictions or any other similar causes which are beyond the control of Lessee; except that this sentence shall not extend any deadline for the payment of monies by Lessee hereunder, including, but not limited to Rent, and Additional
Rent. 
  

	19.	INDEMNITY 

  
 Lessor shall not be liable for and Lessee will indemnify and save Lessor harmless of and from all fines, suits, claims, demands, losses and actions (including attorneys’ fees) for any injury to person or damage
to or loss of property on or about the Premises caused by the negligence or misconduct or breach of this Lease by Lessee, its assigns, employees, sub-tenants, invitees or by any other person entering the Premises or the Building under express or
implied invitation of Lessee, or arising out of Lessee’s use of the Premises. 
  
 Lessee shall not be liable for and Lessor will indemnify and save Lessee harmless of and from all fines, suits, claims, demands, losses and actions (including attorneys’ fees) for any injury to person or damage to or loss of property
on or about the Real Property caused by the negligence or misconduct or breach of this Lease by Lessor, its assigns, employees, sub-tenants, invitees or by any other person entering the Premises or the Building under express or implied invitation of
Lessor, or arising out of Lessor’s use of the Real Property. The indemnities contained here in do not override the waivers contained in Section 21 below. 
  

	20.	INSURANCE TO BE MAINTAINED BY LESSEE 

  
 Lessee shall insure all its property in the Premises against damage by fire, including extended coverage, in reasonable amounts (including self-insurance). The Lessee
shall also maintain at its expense, throughout the Term, insurance against liability in connection with bodily injury, death, property damage and destruction occurring within the Premises or arising out of the use thereof by the Lessee or its
agents, employees, officers, or invitees, visitors and guests under one or more policies or general public liability insurance having the following minimum limits during the initial Lease Term (a) Two Million ($2,000,000) Dollars for injury
to or death of any one or more persons during any one occurrence and (b) One Million ($1,000,000) Dollars for property damage or destruction during any one occurrence. The foregoing limits may be increased by written notice from Lessor to Lessee at
the commencement of the Option term described in Section 1 of Addendum “H” attached hereto, so long as such increased limits are consistent with the limits being required by similar landlords of similar tenants in then current leases in
the same market as the Real Property. Any liability policies shall name Lessor (and, at the request of the Lessor, any mortgages), as an additional insured, and shall provide that the insurance company will endeavor to deliver thirty (30) days prior
written notice to the Lessor (and, at the request of the Lessor, any mortgages) prior to any cancellation thereof. All policies shall be issued by insurers of recognized responsibility licensed to do business in Florida having a rating and financial
size of not less than B++ / Class X in the most current available “Best’s Insurance Reports”,. Any insurance required by this Section 20 may be maintained by any combination of blanket, excess or umbrella policies. 

 

 10 

	21.	SUBROGATION 

  
 Notwithstanding anything to the contrary set forth hereinabove, Lessor and Lessee do hereby waive any and all claims against one another for damage to or destruction of real or personal property to the extent such
damage or destruction can be covered by commercially reasonable “all risks” or “special form” property insurance. Each party shall also be responsible for the payment of any deductible amounts required to be paid under the
applicable “all risks” or “special form” property insurance carried by the party whose property is damaged. These waivers shall apply if the damage would have been covered by a commercially reasonable “all risks” or
“special form” insurance policy, even if the party fails to obtain such coverage. The intent of this provision is that each party shall look solely to its insurance with respect to property damage or destruction which can be covered by
commercially reasonable “all risks” or “special risk” insurance. To further effectuate the provisions of this Section 21, Lessor and Lessee both agree to provide copies of this Lease (and in particular, these waivers) to their
respective insurance carriers and to require such insurance carriers to waive all rights of subrogation against the other party with respect to property damage covered by the applicable “all risks” or “special form” property
policy. 
  

	22.	KEYS AND LOCKS 

  
 A. Locks. Lessor may from time to time install and change locking mechanisms on entrances to the Building, common areas thereof, and the Premises, and shall provide to Lessee a reasonable number of keys and
replacements therefor to meet the bona fide requirements of the Lessee. As used herein, “keys” include any device serving the same purpose. Lessee shall not add to or change existing locking mechanisms on any door in or to the Premises
without Lessor’s prior written consent. If Lessee installs lock(s) incompatible with the Building master locking system: 
  
 1.) Lessor, without abatement of Rent, shall be relieved of any obligation under the Lease to provide any service to the affected areas which require
access thereto; 
  
 2.) Lessee shall indemnify Lessor against any
expense as a result of forced entry thereto, which may be required in an emergency. 
  
 3.) Lessee shall at the end of the term and at Lessor’s request remove such lock(s) at Lessee’s expense; and 
  
 4). Lessee shall not, during periods outside of the normal operation hours of the building, do anything, which shall cause the main entry to the Building
to remain unlocked. Any violation of the foregoing provisions shall subject the Lessee to strict liability for any and all damage to the Building caused by persons gaining entry as a result of such violation. The Lessee agrees to abide by all rules
set by the Lessor concerning security. 
  
 B. Return of Keys. At the end of the
term, Lessee shall promptly return to Lessor all keys for the Building and Premises, which are in possession of Lessee. 
  

	23.	LESSEE’S EQUIPMENT 

  
 The Lessee shall not connect any electrical equipment of any type to the electrical distribution system without the Lessor’s prior written consent, which consent shall not be unreasonably withheld, provided that
the Lessee may, without the Lessor’s consent, connect equipment which do not overtax the electrical system. Lessee’s use of electrical services furnished by Lessor shall not exceed, either in voltage, rated capacity or overall load, that
which Lessor in its reasonable discretion determines, from time to time, is necessary for normal office use, including normal desk-top office equipment and normal copying equipment; without being subject to the utility surcharge hereinafter
provided. In the event Lessee shall request that it be allowed to consume, or actually does consume electrical services in excess of that so determined by Lessor to be reasonable, Lessor may refuse to consent to or to continue such usage or may
consent to such usage upon such conditions as Lessor elects including the requirement that upgraded supply facilities, panels and/or sub-meters be installed at Lessee’s expense. Lessee agrees not to connect with water pipes any apparatus using
water without consent of the Lessor. Additional equipment shall only be connected upon written permission of the Lessor and shall be subject to an electrical service surcharge in an amount determined by the Lessor upon the grant of permission.
Except within Lessee’s breakroom, no cooking or warming up of food or room heaters will be permitted. No device will be used by Lessee that creates any odor. Lessee shall not be permitted to install any equipment causing a floor load in excess
of eighty pounds (80) pounds per square foot. Lessor may, in its sole discretion, grant the Lessee the right to exceed the floor loading capacity stated above in certain portions of the building. 
  
 Lessee may install or affix to the Premises such equipment and trade fixtures as are
reasonably necessary for the conduct of Lessee’s business operation therein with the Lessor’s prior written consent; and Lessee may from time to time remove the same provided that after such removal Lessee restores any damage the Premises
occasioned thereby at Lessee’s expense. 
  
 It is understood and agreed,
however, that any floor coverings, window treatments, wall coverings or other appurtenance attached to the floor or any part of the Premises by Lessee shall at the termination of the Lease or any renewal thereof, remain the property of Lessor and
shall not be removed unless Lessor by notice to Lessee no later than sixty (60) days prior to the date fixed as the termination of this Lease or immediately upon any event of earlier termination, requests Lessee to remove same. Lessee shall promptly
pay and discharge and shall indemnify and hold Lessor harmless of and from, all tangible property taxes and assessments now or hereafter taxed, assessed, imposed or levied by any lawful authority against or upon any fixtures, equipment, or personal
property located in the Premises during the term of this Lease. 
  

 11 

 Lessee shall not store or maintain any equipment, boxes or other containers in the hallways or other common areas inside
or outside the Building. Lessor shall have the right to remove any such equipment, boxes or containers after one (1) hour notice to Lessee and to store such equipment or dispose of it in any manner deemed appropriate by Lessor. In such event, Lessee
shall pay to Lessor all expenses incurred by Lessor for such storage or other disposition, which expenses shall be deemed to constitute additional Rent hereunder. 
  

	24.	LESSOR’S LIEN 

  
 The Lessor hereby waives and releases any statutory landlord’s lien and any contractual landlord’s lien on: (a) any moveable machinery and equipment, including moveable communications equipment and moveable
office equipment, that is installed in the Premises by or for the account of Lessee, and (b) any of Lessee’s moveable furniture, furnishings and other articles of moveable personal property owned by Lessee and located in the Premises. Items (a)
and (b) above shall not include any fixtures which are deemed to be part of the Lessor’s real property pursuant to the Lease. Lessor agrees to execute any commercially reasonable documents requested by Lessee to confirm this waiver. 

 

	25.	LESSOR’S LIMITED LIABILITY 

  
 Lessee agrees that no judgment arising from any default of Lessor’s agreements under the terms of this Lease or by reason of any willful or negligent act of Lessor,
his employees or agents, shall attach against any property of Lessor other than the Building and the lands upon which they are located, and in no event shall any such judgment constitute a lien upon any other lands or properties owned by Lessor
wheresoever located. Neither shall any such judgment attach or constitute a lien against any property of any principal of the Lessor, or any property of such principal’s family, devisees or heirs. 
  
 Lessor shall not be liable or responsible for any loss or damage to any property or death or
injury to any person, or any business or personal loss or damage to any party, occasioned by theft, fire or false fire alarm, smoke, hurricane, act of God, public enemy, injunction, riot, strike, insurrection, bombing or threat thereof, war, court
order, requisition of other governmental body or authority, by any tenants of or, persons within the Building, or of any other matter beyond control of Lessor, or for any injury of damage or inconvenience which may arise through repair or alteration
of any part of the Building, or failure to make repairs, or from any cause whatever except Lessor’s negligence. Lessor will not be responsible for money, jewelry, or personal property of any kind lost or stolen in the Premises or Building, nor
for damage to Lessee’s property caused by roof leaks or bursting and leaking pipes in the Premises or the Building, unless Lessee shall have notified Lessor in writing of an existing defect in said pipes and the Lessor shall have had a
reasonable time in which to repair the same. Lessor shall not be responsible for loss or damage occurring on or about the Parking Area to automobiles, vehicles, or accessories, or the contents therein caused by fire, theft, collision, water,
windstorm or any other causes whatsoever, nor shall Lessor be responsible for any personal injury, death, disablement or property damage sustained by any person arising from the use or entry upon the Parking Area unless resulting from the gross
negligence or willful misconduct of Lessor. All property of Lessee kept or stored in the Premises shall be so kept or stored therein at the risk of Lessee only and Lessor shall have no liability therefor. It is expressly agreed that Lessor shall not
be liable in any manner for any interruption, diminution or cessation for any period of time, of any electrical water, sewage or other utility service to the Premises or the Building, including any damages, consequential or otherwise, that Lessee
may incur therefrom. Lessor shall in no respect be liable for damage to any electrical equipment, including computer or word and data processing equipment and any software, memory, or other components therefor, by reason of any interruption or
diminution in electrical current or air conditioning to the Premises. Lessor shall not be liable for any latent defect in the Premises or the Building of which they form a part. 
  

	26.	MAINTENANCE, REPAIR AND IMPROVEMENTS BY LESSEE 

  
 Except to the extent that Lessee is specifically responsible therefor under this Lease, Lessor shall maintain the Premises and all improvements therein in good order and
condition and in accordance with the maintenance obligations set forth on Addendum F attached hereto and incorporated herein by reference. Otherwise, Lessee agrees to prevent waste to and to take good care of the Premises throughout the term of this
Lease. Lessee’s duty of repair shall extend to and include interior and entry doors, interior glass surfaces, carpeting, and draperies within the Premises. Lessee, at Lessee’s sole cost and expense, shall make when needed, all repairs and
alterations to the Premises, the Building, and the land whenever damage or injury to the same shall have resulted from any willful or negligent act or omission by Lessee, its servants, employees, agents, visitors, invitees, customers, or licensees.
If Lessee neglects or refuses promptly to make any repairs or maintenance required by this paragraph, Lessor may perform the same on Lessee’s behalf, and Lessee shall reimburse Lessor for all costs and, as additional Rent, all expense inclined
upon payable by Lessee to Lessor upon demand. 
  
 Upon termination of this Lease
in any manner, Lessee shall peaceably and quietly leave, surrender, and yield up unto Lessor the Premises broom-clean and in as good order and repair as existed upon the commencement of the term of the Lease, and shall surrender all keys to the
Premises and the Building to Lessor. Unless specifically noted herein, Lessee shall not be required to remove any improvements described as Lessor’s Work in Addendum “B”. 
  

	27.	MAINTENANCE, REPAIR AND IMPROVEMENTS BY LESSOR 

  
 Lessor will, as items of Operating Expense, make necessary repairs of damage to the Building corridors, lobby, structural members of the Building, and equipment used to
provide the services, unless any damage is caused by acts or omissions of Lessee, its agents, customers, employees, or invitees, in which event Lessee will bear the cost of such repairs, Lessee will not injure the Premises or the Building but will
maintain the Premises in a clean, attractive condition and in good repair, except as to damage to be repaired by Lessor as provided above. 
  

 12 

 Upon termination of this Lease, Lessee will surrender and deliver up the Premises to Lessor in the same condition in
which it existed at the commencement of the Lease, excepting only ordinary wear and tear. Except as otherwise provided in this Section, the Lessor agrees to keep in good order, condition and repair the foundations, elevators, structural portions of
the Building, the Common Areas, exterior walls, air conditioning equipment, mechanical, electrical and plumbing systems serving the Building and the Premises, windows, glass surfaces, exterior doors and the roof of the Building, except for
reasonable use and wear and any damage thereof caused by any act of negligence of the Lessee, its employees, agents, visitors, licensees or contractors. In the event of damage to the air conditioning equipment, foundations, exterior walls and/or
roof of the Premises caused by any act of negligence of the Lessee, its employees, agents, visitors, licensees or contractors, such damage shall be repaired at the sole cost and expense of the Lessee. The Lessor shall not be responsible to make any
other improvements or repairs of any kind upon the Premises. 
  

	28.	CONSTRUCTION LIEN 

  
 Nothing contained in this Lease shall be construed as a consent on the part of the Lessor to subject the estate of the Lessor to liability under the Construction Lien Law of the State of Florida, it being expressly
understood that the Lessor’s estate shall not be subject to such liability. Lessee shall strictly comply with the Construction Lien law of the State of Florida as set forth in Florida Statutes, Chapter 713. In the event that a construction
claim of lien is filed against the Property in connection with any work performed by or on behalf of the Lessee, the Lessee shall satisfy such claim, or shall transfer same to security, within ten (10) days from the date of filing. In the event that
the Lessee fails to satisfy or transfer such claim within said ten (10) day period, the Lessor may do so and thereafter charge the Lessee, as additional rent, all costs incurred by the Lessor in connection with the satisfaction or transfer of such
claim, including attorney’s fees. Further, the Lessee agrees to indemnify, defend and save the Lessor harmless from and against any damage or loss incurred by the Lessor as a result of any such claim or lien. If so requested by the Lessor, the
Lessee shall execute a short form or memorandum of this Lease, which may, in the Lessor’s discretion be recorded in the Public Records for the purpose or protecting the Lessor’s estate from construction claims of lien, as provided in
Florida Statutes, Chapter 713.10. No other memorandum of this Lease, nor this Lease itself shall be recordable in the public records of any county within the State of Florida without Lessor’s written consent and joinder, which may be
arbitrarily withheld by Lessor in its sole discretion. In the event such short form of Memorandum of Lease is executed, the Lessee shall simultaneously execute and deliver to the Lessor an instrument terminating the lessee’s interest in the
real property upon which the Premises are located, which instrument may be recorded by the Lessor at the expiration of the term of this Lease, or such earlier termination hereof. The Security Deposit paid by the Lessee may be used by the Lessor for
the satisfaction or transfer of any claim of lien, as provided in this Section. This Section shall survive the termination of this Lease. 
  

	29.	ACCESS TO PREMISES 

  
 Lessor or Lessor’s agents shall have the right (but shall not be obligated) to enter the Premises in any emergency at any time, and at other reasonable times, upon reasonable prior oral notice to the receptionist
or any other of Lessee’s employees found in the Premises and so long as same does not unreasonably interrupt Lessee’s operations within the Premises, to examine the same and to make such repairs, replacements and improvements as Lessor may
deem necessary and reasonably desirable to the Premises or to any other portion of the Building, or which Lessor may elect to perform following Lessee’s failure to make repairs or perform any work which Lessee is obligated to perform under this
Lease, or for the purpose of complying with laws, regulations, and other directions of governmental authorities. So long as same does not unreasonably interrupt Lessee’s operations within the Premises, Lessee shall permit Lessor to use and
maintain and replace pipes and conduits in and through the Premises and to erect new pipes and conduits therein. So long as same does not unreasonably interrupt Lessee’s operations within the Premises, Lessor may, during the progress of any
work in the Premises, take all necessary materials and equipment into the Premises without the same constituting an eviction nor shall the Lessee be entitled to any abatement of rent while such work is in progress, nor to any damages by reason of
loss or interruption of business or otherwise. Throughout the term hereof Lessor shall have the right to enter the Premises at reasonable hours and upon reasonable prior oral notice to the receptionist or any other of Lessee’s employees found
in the Premises for the purpose of showing the same to prospective purchasers or mortgagees of the Building, and during the last six (6) months of the term upon reasonable oral prior to the receptionist or any other of Lessee’s employees found
in the Premises, for the purpose of showing the same to prospective tenants. If Lessee is not present to open and permit an entry into the Premises, Lessor or Lessor’s agents may enter the same whenever such entry may be necessary or
permissible by master key or forcibly and provided reasonable care is exercised to safeguard Lessee’s property and such entry shall not render Lessor or its agents liable therefor, nor in any event shall the obligations of Lessee hereunder be
affected. 
  
 If during the last month of the term Lessee shall have removed all
of Lessee’s property therefrom, Lessor may immediately enter, alter, renovate or redecorate the Premises without reduction or abatement of rent, or incurring liability to Lessee for any compensation and such act shall have no effect on this
Lease or Lessee’s obligations hereunder. Lessor shall have the right at any time, without the same constituting an eviction and without incurring liability to Lessee therefor to change the arrangement and/or location of public entrances,
passageways, doors, doorways, corridors, elevators, stairs, toilets, or other public parts of the Building so long as same does not materially, adversely impact Lessee’s use and enjoyment of, or access to, the Premises and to change the name,
number or designation by which the Building may be known. 
  

	30.	DEFAULT OF LESSEE 

  
 A. Events of Default. The occurrence of any one or more of the events set forth below in (1) to (8), inclusive (any of which is referred to hereinafter as an “Event of Default”) is a default by Lessee under
this Lease for which the Lessor shall have any and all rights and remedies set forth in paragraph 30.B, hereof. 
  

 13 

 1) In the event Lessee should fail to pay any one or more of said monthly installments of Premises Base
Rent, as adjusted from time to time, Parking Space Base Rent, as adjusted from time to time, Lessee’s share of the Operating Expenses, as adjusted from time to time, sales tax due on the amount of any Rent, any prorations due under this Lease
or any other sums required to be paid hereunder as additional Rent, as and when the same becomes due. Notwithstanding the foregoing to the contrary, no Event of Default shall be deemed to occur for the first late payment of any of the foregoing
during any rolling twelve-month period during the Lease Term until Lessor has delivered to Lessee written notice of such failure to pay and provided Lessee five (5) business days to cure such late payment. Any further late payments during such
twelve (12) month period shall not be subject to the foregoing notice and cure. 
  
 2) Not Used. 
  
 3) In the event
a petition of bankruptcy under any present or future bankruptcy laws (including but not limited to reorganization proceedings) be filed by or against the Lessee and such petition is not dismissed within thirty (30) days from the filing thereof, or
in the event Lessee is adjudged a bankrupt; 
  
 4) In the event
an assignment for the benefit or creditors is made by Lessee; 
  
 5) In the event of an appointment by any court of a receiver or other court officer of Lessee’s property and such receivership is not dismissed within thirty (30) days from such appointment; 
  
 6) In the event Lessee uses the Premises for purposes other than the
purposes for which the same are hereby leased; 
  
 7) In the
event an execution or other legal process is levied upon the goods, furniture, effects or other property of Lessee brought on the Premises, or upon the interest of Lessee in this Lease, and the same is not satisfied or dismissed within ten (10) days
from such levy; 
  
 8) In the event Lessee violates any other
term, condition or covenant herein on the part of Lessee to be performed, and fails to commence and proceed with diligence and dispatch to remedy the same within twenty (20) days after written notice thereof is given by Lessor to Lessee. 

 

	B.	Remedies of Lessor 

  
 1) If any Event of Default occurs, the Lessor shall have the right, at the option of Lessor, to terminate this Lease upon three (3) days written notice to
Lessee, and to thereupon re-enter and take possession of the Premises with or without summary or other legal process. If any Event of Default occurs, Lessor shall have the right, at its option, from time to time, without terminating the Lease, to
re-enter and re-let the Premises, or any part thereof, with or without legal process, as the agent and for the account of Lessee upon such terms and conditions as Lessor may deem advisable or satisfactory, in which event the rents received on such
re-letting shall be applied first to the expenses of such re-letting and collection including, but not limited to, necessary renovation and alterations to the Premises, reasonable attorneys’ fees, any real estate commissions paid, and
thereafter toward payment of all sums due or to become due to the Lessor hereunder, and if a sufficient sum shall not be thus realized or secured to pay such sums and other charges, (i) at Lessor’s option, Lessee shall pay Lessor any deficiency
monthly, notwithstanding Lessor may have received rental in excess of the rental stipulated in this Lease in previous or subsequent months, and Lessor may bring an action therefor as such monthly deficiency shall arise, or (ii) at Lessor’s
option, the entire deficiency, which is subject to ascertainment for the remaining term of this Lease, shall be immediately due and payable to Lessor. Nothing herein, however, shall be construed to require Lessor to re-enter or re-let the Premises
or any portion thereof in any event. The Lessor shall not, in any event, be required to pay Lessee any surplus of any sums received by Lessor on a re-letting of said Premises in excess of the rent provided in this Lease. 
  
 2) If any Event of Default occurs, the Lessor shall have the right, at its
option, to declare all rent (or any portion thereof) for the entire remaining term, and other indebtedness owing by Lessee to Lessor, if any, immediately due and payable without regard to whether possession of the Premises shall have been
surrendered to or taken by Lessor, and may commence action immediately thereupon and obtain a judgment therefor. 
  
 3) If any Event of Default occurs, the Lessor, in addition to other rights and remedies it may have, shall have the right to remove all or any part of the
Lessee’s property from the Premises and any property removed may be stored in any public warehouse or elsewhere at the cost of, and for the account of Lessee and the Lessor shall not be responsible for the care or safekeeping thereof whether in
transport, storage or otherwise, and the Lessee hereby waives any and all claims against Lessor for loss, destruction and/or damage or injury which may be occasioned by any of the aforesaid acts. 
  
 4) No such re-entry or taking possession of the Premises by Lessor shall be
construed as an election on Lessor’s part to terminate this Lease unless a written notice of such intention is given to Lessee. Notwithstanding any such reletting without termination, Lessor may at all times thereafter elect to terminate this
Lease for such previous Event of Default if same then remains uncured and any or all Events of Default that are non-monetary in nature have occurred more than three times during the term of this Lease whether cured or not. Any such re-entry shall be
allowed by Lessee without hindrance, and Lessor shall not be liable for damages for any such re-entry, or guilty of trespass or forcible entry. 
  

 14 

 5) In the event of a breach or threatened breach by Lessee of any of the covenants or provisions hereof
which reasonably creates an emergency situation or unreasonable threat to persons or property, Lessor shall have the right of injunction and the right to invoke any remedy allowed at law or in equity as if re-entry, summary proceedings and other
remedies were not herein provided for. Mention in this Lease of any particular remedy shall not preclude Lessor from any other remedy, in law or in equity. Lessee hereby expressly waives any and all rights of redemption granted by or under any
present or future laws in the event of Lessee being evicted or dispossessed for any cause, or in the event of Lessor obtaining possession of Premises by reason of the violation by Lessee of any of the covenants and conditions of this Lease, or
otherwise. 
  
 6) If any Event of Default occurs, the Lessor
shall have the right to apply and/or retain all or any portion of the Deposit paid by Lessee hereunder against any all loss, cost, expenses or damage sustained or incurred by Lessor as a result thereof, as specified in Section 9 of this Lease.

  
 7) Notwithstanding any other provision hereof, Lessee shall
indemnify, reimburse and hold harmless the Lessor from any and all costs, expenses, charges and fees, including without limitation reasonable attorneys fees, incurred or expended by Lessor as a result of the default by Lessee of any term, condition,
or covenant of this Lease or any rule or regulation promulgated pursuant hereto; or as a result of Lessor’s defense of any right or lien held by Lessor under this Lease or provided by law, whether or not suit shall actually be brought. All
costs, expenses, charges and fees shall be deemed Additional Rent and shall be payable by Lessee upon demand of Lessor. All sums, Rent and Additional Rent payable under this Lease, including without limitation the sums due under this section, shall
bear interest from the date payment is due, and whether before or after judgment, at a rate of interest equal to 18% per annum notwithstanding any lower rate of interest specified in Florida Statutes, Chapter 55.03 or any other Chapter of the
Florida Statutes. 
  
 Upon the occurrence of any Event of Default and/or in
connection with Lessor’s pursuit of any of the foregoing remedies, Lessor shall be obligated to mitigate its damages as required by applicable statute in the State of Florida. 
  

	31.	BANKRUPTCY 

  
 A. If, at any time prior to the date fixed as the commencement of the term of this Lease, a petition in bankruptcy or insolvency or for reorganization or for the appointment of a receiver or trustee for all or part of
Lessee’s property is filed in any court by Lessee, or is filed against Lessee, and if filed against Lessee, the same is not vacated within thirty (30) days thereafter, or if Lessee makes an assignment for the benefit of creditors, then, and in
any such event, this Lease shall be deemed to be in default by Lessee and shall, at the election of the Lessor, be terminated and canceled and neither Lessee nor any other person claiming through Lessee shall be entitled to possession of the
Premises. 
  
 B. If the Lessee shall become insolvent or if bankruptcy proceedings
are brought against the Lessee before the end of the term of this Lease, the Lessor is hereby irrevocably authorized at its option to cancel this Lease. The Lessor may elect to accept rent from a receiver, trustee or other judicial officer, during
the term of their occupancy in their fiduciary capacity without affecting Lessor’s rights as contained in this Lease. No receiver, trustee or other judicial officer shall ever have any right, title or interest in the Premises. 
  

	32.	QUIET ENJOYMENT 

  
 Lessee hereby covenants and agrees to pay all Rent reserved hereunder at the times and in the manner herein provided, and to fully and faithfully comply, perform, and abide by each and every term, stipulation, and
agreement herein contained, and upon the said faithful compliance, Lessee shall have peaceable and undisturbed possession of the Premises during the term aforesaid without hindrance from any person lawfully claiming by, through or under the Lessor.

  

	33.	NAME OF BUILDING 

  
 Lessor shall have the right, after thirty (30) days notice to Lessee to change the name, number or designation of the Building, during the term without liability to Lessor. 
  

	34.	RELOCATION (Intentionally Deleted) 

  

	35.	FINANCIAL STATEMENTS 

  
 From time to time, at Lessor’s request, Lessee shall cause the following financial information to be delivered to Lessor, at Lessee’s sole cost and expense, upon not less than ten (10) days’ advance
written notice from Lessor: (a) a current financial statement for Lessee, (b) a current financial statement for any guarantor(s) of this Lease, and (c) such other financial information pertaining to Lessee or any guarantor as Lessor or any lender or
purchaser of Lessor may reasonably request. All financial statements shall be prepared in accordance with generally accepted accounting principles consistently applied and, if such is normal practice of Lessee, shall be audited by an independent
certified public accountant. Lessee hereby authorizes Lessor, from time to time, without notice to Lessee, to obtain a credit report or credit history on Lessee from any credit reporting company. 
  

 15 

	36.	SUBORDINATION, ATTORNMENT, ESTOPPEL CERTIFICATES 

  
 In consideration of the execution of this Lease by Lessor but subject to the express condition that Lessee is provided a commercially reasonable subordination
non-disturbance (“SNDA”) agreement from each lender or other party holding a superior interest as hereinafter described, Lessee accepts this Lease subject to any master leases, security interest or first mortgage which might now or
hereafter constitute a lien upon the Building or Improvements therein or on the Premises and to zoning ordinances and other building and fire ordinances and governmental regulations relating to the use of the Property. Although no instrument or act
on the part of the Lessee shall be necessary to effectuate such subordination (except for the SNDA described above), Lessee shall, nevertheless, for the purposes of confirmation, at any time hereafter, on demand, in the form(s) prescribed by Lessor,
execute any Instruments, certificates, releases or other documents that may be requested or required by any holder of any superior interest for the purposes of subjecting and subordinating this Lease to the lien of any such master lease, security
interest, mortgage, or superior interest provided that Lessee has received the SNDA described above. If Lessee fails to respond to any request by Lessor to execute documents as aforesaid within thirty (30) days following Lessee’s receipt of
Lessor’s written request, Lessor shall thereafter be entitled to deliver a second “reminder” notice which includes a duplicate copy of Lessor’s original notice and reminds Lessee that Lessee must respond to Lessor’s request
within an additional thirty (30) days. If, upon Lessee’s receipt of such a reminder package, Lessee still fails to respond within such additional thirty (30) day period (which runs from the date Lessee actually receives Lessor’s
reminder package), then Lessee hereby appoints Lessor attorney in fact, irrevocably to execute and deliver any such instrument or document for Lessee. 
  
 In the event any proceedings are brought for the foreclosure of, or in the event of exercise of the power of sale under, any mortgage made by the Lessor covering the
Premises or in the event a deed is given in lieu of foreclosure of any such mortgage, Lessee shall attorn to the purchaser, or grantee in lieu of foreclosure, upon any such foreclosure or sale and recognize such purchaser, or grantee in lieu of
foreclosure, as the Lessor under this Lease and any such purchaser, or grantee in lieu of foreclosure, shall not disturb Lessee’s possession hereunder except to the extent provided to the contrary in any SNDA received from such purchaser or
grantee. 
  
 Lessee agrees to furnish from time to time when requested by
Lessor, a certificate signed by Lessee to the effect that, to the extent true, this Lease is then presently in full force and effect and unmodified (or has been modified and is as set forth in the certificate); that the term of this Lease has
commenced and the full rental is then accruing hereunder; the amount of Base Rent, adjusted as called for herein, currently being paid by the Lessee; that Lessee has accepted possession of the Premises and that any improvements required by the terms
of this Lease to be made by Lessor have been completed to the satisfaction of Lessee: that no rent under this Lease has been paid more than thirty (30) days in advance of its due date: that the address for notices to be sent to Lessee is as set
forth in this Lease (or has been changed by notice duly given and is set forth in the certificate); that Lessee, as of the date of such certificate, has no charge, lien, or claim of offset under this Lease or otherwise against rents or other charges
due or to become due hereunder; and that to the knowledge of Lessee, Lessor is not then in default under this Lease. The certificate shall also contain such other and further factual information as may be reasonably requested by Lessor. 

 

	37.	ATTORNEYS’ FEES EXPENSES AND INTEREST 

  
 If an Event of Default by Lessee shall occur, then, unless, otherwise provided elsewhere in this Lease, Lessor may immediately or at any time thereafter and without
notice perform the obligations of Lessee thereunder, and if Lessor, in connection therewith or in connection with any Event of Default by Lessee in the covenant to pay rent hereunder, makes any expenditures or incurs any obligations for the payment
of money, including but not limited to attorneys’ fees, in instituting, prosecuting or defending any action or proceeding, such sums so paid or obligations with interest and costs shall be deemed to be additional rent hereunder and shall be
paid by Lessee to Lessor within fifteen (15) days of rendition of any bill or statement to Lessee therefor, and Lessor may immediately apply and retain Lessee’s Deposit or any portion thereof against same. If Lessee’s Lease term shall have
expired at the time of making of such expenditures or incurring of such obligations, such sums shall be recoverable by Lessor as damages. 
  
 Should either party to this Lease institute any action or proceeding in court to enforce any provision hereof or for damage by reason of alleged breach of any provisions
of this Lease, and/or any appeal therefrom, the prevailing party shall be entitled to receive from the losing party such amount as the court may adjudge to be reasonable attorneys’ fees for the services rendered the party finally prevailing in
any such action or proceeding. 
  

	38.	NOTICES 

  
 A. Any notice by Lessee or Lessor must be served by prepaid certified mail, return receipt requested, or overnight delivery (using a reputable service such as Federal Express, UPS or Airborne) addressed to the other
party at the address given below or at such other address as such party may designate by written notice. 
  
 B. After commencement of the term hereof any notice by Lessor to Lessee shall be addressed to Lessee at the Premises or at such other address as Lessee shall designate by written notice. Prior to the commencement of
the term hereof-such notice shall be addressed to Lessee at the following address: 
  
 Ameripath 
 7289 Garden Road, Suite 200 
 Riviera Beach, FL 33404 
 Attn: Mr. Stephen A.
Dillemuth, Vice President of Tax 
  
 Any notice by Lessee to Lessor shall be
addressed to Lessee at c/o Merin Hunter Codman, Inc. at 1601 Forum Place, Suite 200, West Palm Beach, Florida 33401 or at such other address as Lessor shall designate by written notice. 
  

 16 

 C. All notices given hereunder shall be in writing, and shall be effective and deemed to have been given only upon
receipt by the party to which notice is being given, said receipt being deemed to have occurred upon hand delivery or posting, or upon such date as the postal authorities shall show the notice to have been delivered, refused, or undeliverable, as
evidenced by the return receipt. Notwithstanding the foregoing to the contrary, Lessor shall be entitled to post any statutory notices or other constructive notices on the Premises as provided by applicable law. 
  

	39.	SUCCESSORS AND ASSIGNS 

  
 The covenants, conditions and agreements contained in this Lease shall bind and inure to the benefit of Lessor and Lessee and their respective heirs, distributees, executors, administrators, successors, and except as
otherwise provided in this Lease, their assigns. 
  

	40.	TIME OF ESSENCE 

  
 Time shall be of the essence with regard to the payment of all Rent and Additional Rent, and the performance of each and every of the terms, conditions and covenants set forth herein on the part of the Lessee or
Lessor to be performed. 
  

	41.	TENANCY AT SUFFERANCE 

  
 If, without Lessor’s written consent, Lessee remains in possession of the Premises after the expiration or other termination of the term of this Lease, Lessee shall be deemed to be occupying the Premises upon a
tenancy at sufferance only, at a monthly rental equal to one hundred fifty (150%) of the last Base Rent for the first 60 days of holdover (and two (2) times the last Base Rent for any period of holdover beyond such initial 60-day period), plus
Lessee’s share of Operating Expenses, sales tax and any applicable additional Rent, which tenancy shall be terminable by Lessor at any time by notice of termination to Lessee, and by Lessee on the last day of any calendar month by at least
thirty (30) days advance notice to Lessor. 
  

	42.	BROKERAGE COMMISSIONS 

  
 Lessee has not dealt with any real estate brokers other than Merin Hunter Codman, Inc. and Mohr Partners, Inc. Lessor shall be responsible for all commissions earned as a result of this Lease payable to Merin Hunter
Codman, Inc., other than as stated in the preceding sentence. Payment of such commissions to be per separate agreement between Merin Hunter Codman, Inc. and Mohr Partners, Inc. Lessee warrants that there are no claims for broker’s commissions
or finder’s fees claiming by, through or under Lessee in connection with its execution of this Lease, and agrees to indemnify, defend and save lessor harmless from any liability that may arise from such claim, including reasonable
attorneys’ fees. 
  

	43.	TITLES 

  
 The titles to the sections of this Lease have been inserted only for the convenience of the Lessor and Lessee in referring to the provisions hereof, and are not a part of the terms, conditions and covenants. Each
section will be construed according to its text without reference to the title. 
  

	44.	SEPARABILITY 

  
 If any clause of provision of this Lease is illegal, invalid or unenforceable under present or future laws effective during the term of this Lease, then and in that event, it is the intention of the parties hereto
that the remainder of this Lease shall not be affected thereby. 
  

	45.	COUNTERPARTS 

  
 This Lease may be executed in any number of counterparts, each of which shall be an original, but all of which shall together constitute one Lease. 
  

	46.	APPLICABLE LAW 

  
 This Lease shall be given effect and construed by application of the law of Florida, and any action or proceeding arising hereunder shall be brought in the courts of Palm Beach County, Florida; provided that if any
such action or proceeding arises under the constitution, laws or treaties of the United States of America, or if thee is a diversity of citizenship between the parties hereto, so that it may be brought in the United States District Court, it may be
brought in the United States District Court for the southern District of Florida. 
  

	47.	WAIVER OF TRIAL BY JURY 

  
 It is mutually agreed by and between Lessor and Lessee that the respective parties hereto shall and they hereby do waive trial by jury in any action, proceeding, or counterclaim brought by either of the parties hereto
against the other except for personal injury or property damage, on any matters whatever arising out of or in any way connected with this Lease, the relationship of Lessor and Lessee, Lessee’s use of or occupancy of said Premises, and any
emergency statutory or any other statutory remedy. It is further mutually agreed that in the event Lessor commences any primary proceeding for possession of the Premises, Lessee will not file any counterclaim of whatever nature or description in any
such proceeding unless such counterclaim involves the substance of the primary proceeding. 
  

 17 

	48.	INTEGRATION, MODIFICATION, AND WAIVER 

  
 This instrument contains all the agreements and conditions made between the parties hereto and may not be modified, changed, or terminated, in whole or in part, orally,
or in any other manner other than by an agreement in writing, signed by all parties hereto or their respective successors in interest. The receipt of Rent by Lessor with knowledge of any breach of this Lease by Lessee, or of any default on the part
of the Lessee in the observance or performance of any of the conditions or covenants of this Lease, shall not be deemed to be a waiver of any provision of this Lease. No waiver of any default on the part of either party nor any extension of time by
one party to the other party for any purpose whatsoever shall be held or deemed to be a waiver of any of the terms of this Lease or any default thereafter occurring, and no termination of this Lease in any manner shall affect the rights of the
parties against each other as of the time of such termination. If Lessee makes any payment of any amount less than that due hereunder, Lessor, without notice may accept the same as a payment on account; the Lessor shall not be bound by any notation
or any check involving such payment nor any statement in any letter accompanying such payment. No failure on the part of either party to enforce any covenant or provision herein contained, nor any waiver of any right hereunder by either party,
unless in writing, shall discharge or invalidate such covenant or provision or affect the right of such party to enforce the same in the event of subsequent breach or default. The receipt by Lessor of any Rent or other sum of money or any other
consideration hereunder paid by Lessee after the termination of the Lease, in any manner, of the term herein demised or after the giving by Lessor of any notice hereunder to effectuate such termination, shall not reinstate, continue, or extend the
term herein demised, or destroy, or in any manner impair the efficacy of any such notice of termination as may have been given hereunder by Lessor to Lessee prior to the receipt of any such sum of money or other consideration, unless so agreed to in
writing and signed by the Lessor. Neither the acceptance of keys nor any other act or thing done by Lessor, its agents or employees, during the term herein demised shall be deemed to be an acceptance of a surrender of the Premises, excepting only an
agreement in writing signed by the Lessor accepting or agreeing to accept such a surrender. Any right herein granted to the Lessor to terminate this Lease shall apply to any extension or renewal of the term herein demised, and the exercise of any
such right during the term herein demised shall terminate any extension for renewal of the term herein demised, and any right on the part of the Lessee thereto. No act or conduct of any nature or character on the part of Lessor, its agents or
employees, other than an agreement in writing signed by the Lessor, shall be construed as a waiver of the provision of this paragraph irrespective of any circumstances existing at the time of such act or conduct. Regardless of any other
understanding this Lease is not to be considered effective until fully executed by both Lessor and Lessee. 
  

	49.	RADON GAS 

  
 Radon is a naturally occurring radioactive gas that, when it has accumulated in a building in sufficient quantities, may present health risks to persons who are exposed to it over time. Levels of radon that exceed
federal and state guidelines have been found in buildings in Florida. Additional information regarding radon and radon testing may be obtained from your county public health unit. 
  

 18 

  
 ADDENDUM
“A” 
 FLOOR PLAN 
  
 [GRAPHIC OMITTED] 
  

 19 

 ADDENDUM “B” 
 LESSOR’S WORK 
 Fairway Office Center 
 7111 Fairway Drive 
 4th Floor

  
 [GRAPHIC OMITTED] 
  
 Tenant Entries 
  
 Main tenant entries shall consist of 3’-0” x 8’-0” solid-core-flush oak veneer door w/ 5” solid top rail.
Secondary exit doors shall be 3’-0” x 7’-0”w/5”solid top rail. Hardware shall consist of a heavy-duty commercial lever handle lockset; two pair of butt hinges, silencers, a closer and a floor-stop all in a brushed
stainless steel finish. Tenants over 10.000 SF (approximately half a floor) may have double 3’-0” x 8’-0” door with center leaf astragal and heavy duty L series mortised lever handle look set. Hardware to match
existing building standards. Key/tag “proximity reader” available at-entry door for additional cost to Tenant (subject to application of the Allowance). 
  
 Demising Partitions 
  
 Shall be constructed of 3-5/8” metal studs @ 24 “o/c. with one layer each side of 5/8” gypsum type X wallboard, and 4”
acoustical insulation between. Partitions shall extend from the floor slab to the structural deck above and shall have 4” high vinyl base on the Tenant side(s). 
  
 Interior Tenant Partitions 
  
 Shall be constructed of 3-5/8” metal studs @ 24” o/c. with one layer of 5/8” gypsum wallboard on each side. Partitions shall extend from the floor slab to
above the finish-ceiling plane, with bracing to the structural deck, and shall have 4” high vinyl base on each side. Exterior walls will consist of 3 5/8” studs, 5/8” gypsum wallboard, and R5.4 rigid insulation. At the
tenant’s request and expense (subject to application of the Allowance), designated interior partitions can be filled with 4” acoustical insulation and carried up to the structural deck for an additional cost (subject
to application of the Allowance). 
  
 Interior Tenant Doors 

 
 Shall be 3’-0” x 8’-0” solid-core-flush oak veneer. Hardware
package shall consist of commercial grade “AL Series” cylindrical lever-sets; two pair of butt hinges, silencers, and a floor-stop in a brushed stainless steel finish. 
  
 Suspended Acoustical Ceiling 
  
 Ceiling tile- Cortega bevel tegular tile # 2195 by Armstrong, 24” x 24” acoustical panels with Reveal edges and a white factory finish. Ceiling grid - shall be
an exposed 9/16” wide “fine-line” grid in a matching white factory finish. Structure permitting, ceilings to be 9’-0”. 
  
 Painting 
  
 Shall be two coats of flat finish latex paint on all gypsum wallboard walls, soffits and similar surfaces. Door frames and other metal surfaces to be painted shall receive two coats of semi-gloss finish oil-base
enamel. Wood doors shall receive a stained & sealed finish. All paint and stain colors, excepting at Tenant entries (which shall conform to building standards), shall be selected by the Tenant from manufacturers’ standard color palettes.

  

 20 

 Carpeting 
  
 Shall be 28-oz. loop pile solution dyed nylon, installed by direct glue-down with 4” rubber cove base as standard. Carpet and base shall be selected by
the Tenant from the standard range of colors offered by the Owner. 4 1/2” oak base is available at additional cost (subject to application of the Allowance). 
  
 Window Treatment 
  
 Shall be 1” wide horizontal aluminum blinds in the standard building color, with matching housing and hardware. Each window unit to receive a solid color acrylic
resin (white) sill. 
  
 Lighting 
  
 Shall be 2’ x 4’ reflective parabolic fixture with energy efficient octron ballast
and standard lamps. 
  
 Light Switches 
  
 Shall be white, single pole toggle switch with white cover plate. 
  
 Wall Receptacles 
  
 Shall be white, two pole, and fully grounded units with white cover plates. 
  
 Telephone / Data Wall Outlets 
  
 Shall be installed with wall ring, blank plate and conduit stub in ceiling, wiring to be furnished by Tenant’s service provider. Telecomm closets to be located
within Tenant’s space. 
  
 Emergency/Life Safety, Exit Lighting and
Exit Signs 
  
 Shall include items required by code and connected to Building
Fire Alarm Monitoring Panel where appropriate. Before mentioned, optional electronic door locking devises are required by code to be connected to the Fire alarm panel. 
  
 HVAC Distribution 
  
 Shall be from locally zoned VAV boxes to 2’ x 2’ white perforated face metal panel diffusers flush with the suspended ceiling system. VAV allowance is (1) box
(R/A grille & one thermostat) per 850 SF. of useable area. Tie-in to energy monitoring system and proximaity reader for accessing overtime air conditioning is included on spaces over 5,000 SF. 
  
 Telecommunications - Fully Fiber Optic 
  
 Building is equipped with twenty-four (24) strand fiber-optic services with MUX by Bell
South and CATV service by Adelphia Cable Co. Service and tie-in is available to Tenants by the carriers at additional change. (subject to application of the Allowance). 
  
 Electrical 
  
 The total connected load for Tenant’s lighting and power requirements including landlord supplied HVAC shall not exceed fifteen (15)
watts per square foot of floor area for all purposes. 
  
 Fire Sprinklers

  
 Shall be concealed head units with white factory finished covers and
centered in the ceiling grid. Heads shall be provided to meet code and building insurance requirements. Special tenant requirements may be additional (subject to application of the Allowance). 
  
 Tenant Identification Signage 
  
 Shall be included at the primary entrance to the suite and in the main building directory
located on the main lobby level. The Owner’s graphics consultant will design signage with information furnished by the Tenant. 
  
 Break Room 
  
 Flooring shall consist of vinyl tile (selected from Lessor’s standard finishes). Cabinetry shall consist of plastic laminate finish (selected from Lessor’s standard finishes) with concealed hinged
doors. Base cabinets shall have plastic laminate top with a 4” backsplash. Sink shall be double bowl stainless steel with single level faucet (cold water only). Lessor shall provide a single water supply line with separate shut-off for coffee
maker and refrigerator. All appliances shall be supplied by Lessee. 
  

 21 

  
 ADDENDUM
“C” 
 BUILDING RULES AND REGULATIONS 
  
 BUILDING RULES AND REGULATIONS. Lessee and his employees, agents, licensees and invitees shall faithfully observe and comply with the
following Rules and Regulations and all reasonable modifications of any additions thereto from time to time put into effect by Lessor. Lessor shall not be responsible to Lessee for the nonperformance of any said Rules and Regulations by any other
Lessee or occupant of the building; although, Lessor shall use commercially reasonable efforts to enforce same. 
  
 Alterations. No Lessee shall mark, paint, drill into, or in any way deface any part of the Premises or the building of which they form a part. No boring, cutting or
stringing of wires shall be permitted, except with the prior written consent of Lessor, and as Lessor may direct. No Lessee shall lay linoleum or other similar floor covering, so that the same shall come in direct contact with the floor of the
Premises, and if linoleum or other similar floor covering is desired to be used, an interlining of builder’s deadening felt shall be first affixed to the floor, by a paste or other material, soluble in water, the use of cement or other similar
adhesive material being expressly prohibited. 
  
 Advertising. Lessor shall have
the right to prohibit any advertising by any Lessee which, in Lessor’s opinion, tends to impair the reputation of the building or its desirability as a building for offices, and upon written notice from Lessor. Lessee shall refrain from or
discontinue such advertising. Without limiting the foregoing, no advertising or notices shall be permitted in the windows or common areas of the building. 
  
 Bicycles, Animals, Lessee shall not bring any animals or birds into the Building, and shall not permit bicycles or other vehicles inside or on the sidewalks outside the
Building except in areas designated from time to time by Lessor for such purposes. 
  
 Dangerous or Immoral Activities. Lessee shall not make any use of the Premises, which involves the danger of injury to any person, nor shall the same be used for any immoral use. 
  
 Deliveries. Lessee shall ensure that deliveries of materials and supplies to the premises are made through such entrances, elevators and
corridors and at such times as may from time to time be designated by Lessor, and shall promptly pay or cause to be paid to Lessor the cost of repairing any damage to the Building caused by any person making such deliveries, 
  
 Foods and Beverages. Only persons approved from time to time by Lessor may prepare, solicit
orders for, sell, serve or distribute, foods or beverages in the Building, or use the elevators, corridors or common areas for any such purpose. Except with Lessor’s prior written consent and in accordance with arrangements approved by Lessor,
Lessee shall not permit on the Premises the use of equipment for dispensing food or beverages or for the preparation, solicitation of orders for, sale, serving or distribution of food or beverages. 
  
 Fire Alarms. There is a Two Hundred Fifty 00/100 ($250.00) Dollar fee for false fire alarms
caused by the Lessee, or, the fee assessed by the Palm Beach County Fire Department, whichever is greater. 
  
 Furniture and Equipment. Lessee shall ensure that furniture and equipment being moved into or out of the Premises is moved through such entrances, elevators and corridors and at such times as may from time to time be
designated by Lessor, and by movers or a moving company approved by Lessor, and shall promptly pay or cause to be paid to Lessor the cost of repairing any damage in the Building caused thereby. 
  
 Heavy Articles. Lessee shall not place in or move about the Premises without Lessor’s
prior written consent any safe or other heavy article which in Lessor’s reasonable opinion may damage the Building, and Lessor may designate the location of any heavy articles in the Premises. 
  
 Loading, Unloading and Moving. 
  
 1. The delivery and shipping of merchandise, supplies, fixtures, and other materials or
goods of whatsoever nature to or from the Premises and all loading, unloading and handling thereof shall be done only at such times, in such areas, by such means and through such elevators, entrances, halls and corridors as are designed by Lessor.

  
 2. Lessor accepts no liability and is hereby relieved and released by Lessee
in respect of this operation of delivery facilities for the Building, or the adequacy thereof, or of the acts or omissions of any person or persons engaged in the operation thereof, or in the acceptance, holding, handling or dispatch, or any error,
negligence or delay therein, 
  
 3. Lessor may from time to time make and amend
regulations for the orderly and efficient operation of the delivery facilities for the Building, and may require the payment of reasonable and equitable charges for delivery services and demurrage provided by Lessor. 
  
 4. No furniture may be moved in or out of the Building without prior consent of Lessor.
Arrangements for moving must be made with Lessor’s office and must be supervised by Lessor’s representative. Lessee agrees to pay for any and all damages to any part of the Building or Premises because of such moving, by either Lessee, his
agents or movers. No moving shall be permitted except between the hours of 8:00 a.m. and 5:00 p.m., Monday through Friday. Charges will be made for any material and office building personnel who are needed to assist in the Lessee’s move.

  

 22 

 Obstructions. Lessee shall not obstruct or place anything in or on the sidewalks or driveways outside the Building or in
the lobbies, corridors, stairwells or other common areas of the Building, or in use such locations for any purpose except access to and exit from the Premises without Lessor’s prior written consent. Lessor may remove at Lessee’s expense
any such obstructions or thing (unauthorized by Lessor) without notice or obligation to Lessee. Additionally, Lessee shall not permit its employees, agents, invitees or customers to loiter, sleep, assemble or congregate within any common areas or
grounds of the Building, nor shall Lessee conduct any lottery whether within the Premises, common areas, or otherwise. 
  
 Odors. Lessee shall not bring or permit to be brought or kept in or on the premises, any inflammable, combustible or explosive fluid, material, chemical or substance, or
cause or permit any odors of cooking or other processes, or in any unusual or other objectionable odors to permeate in or emanate from the Premises. 
  
 Parking. Lessee shall insure that its employees, customers, clients, guests, invitees and licensees comply with the following parking regulations and acknowledges that
such regulations shall be strictly enforced by Lessor: 
  
 A. Lessee shall only
park in Lessor designated parking areas. 
  
 B. Lessor reserves the right to
control the method, manner and time of parking in all parking spaces. 
  
 C. In
the event of any violation of the parking regulations, Lessor shall have the right to post a notice of violation on the offending vehicle and to tow the offending vehicle (regardless of whether the vehicle is owned by a Lessee or any other party,
including any employee, customer, client, invitee or licensee of a Lessee) and to charge the expense thereof to the applicable Lessee as additional Rent or terminate the Lessee’s license to park on the Real Property. In the event of continued
violations of these regulations, and after notice to the Lessee, the Lessor may assess a charge of twenty dollars ($20.00) against the Lessee for each violation, which shall be payable as additional Rent. 
  
 Proper Conduct. Lessee shall not conduct itself in any manner which is inconsistent with the
character of the Building as a first quality building or which will impair the comfort and convenience of other Lessees in the Building. Lessee shall be responsible for the conduct of its employees, customers, clients, licensees, invitees and
servants. 
  
 Personal Use of Premises. The Premises shall not be used or
permitted to be used for residential, lodging or sleeping purposes, or for the storage of personal effects or property not required for business purposes. 
  
 Refuse. Lessee shall place all refuse in proper receptacles provided by Lessee at its expense in the Premises, or in receptacles (if any) provided by Lessor for the
Building, and shall keep sidewalks and driveways outside the building, and lobbies, corridors, stairwells, ducts and shafts of the Building free of all refuse. 
  

Repair, Maintenance, Alterations and Improvements. Lessee shall carry out Lessee’s repair, maintenance, alterations and improvements in the Premises only during
times agreed to in advance by Lessor and in a manner, which will not interfere with the rights of other Lessees in the Building. 
  
 Signs. No sign, advertisement, notice or other lettering shall be exhibited, inscribed, painted or affixed by any Lessee on any part of the outside of the Premises or the
building or on the inside of the Premises if the same is visible from the outside of the Premises without the prior written consent of Lessor, except that the name of the Lessee may appear on the entrance door of the Premises. In the event of the
violation of the foregoing by any Lessee, Lessor may remove it without any liability and may charge the expense incurred by such removal to Lessee or Lessees violating this rule. Interior signs on doors and directory tablet shall be inscribed,
painted or affixed for each Lessee by Lessor at the expense of such Lessee, and shall be of size, color and style acceptable to Lessor. 
  
 Smoking. Smoking is not permitted in any non-designated smoking area of the Building. Smoking is expressly prohibited at the front entrance of the Building. 

 
 Solicitations. Lessor reserves the right to prohibit canvassing, soliciting or peddling in
the Building but shall not be in any manner liable for any such acts within or about the Building. 
  
 Water Fixtures. Lessee shall not use water fixtures for any purpose for which they are not intended, nor shall water be wasted by tampering with such fixtures. Any cost or damage resulting from such misuse by Lessee
shall be paid by Lessee. 
  
 Windows. The Lessee acknowledges the importance of
the exterior glass to the architectural integrity of the Building, and agrees to observe Lessor’s rules with respect to maintaining window coverings at all windows in the Premises so that the Building presents a uniform exterior appearance.
Lessee shall not install any window shades, screens, drapes, covers or other materials on or at any window in the Premises without Lessor’s prior consent. Lessor shall have the right to approve the color, design and all materials of window
treatments. Further, no window treatments which may be installed by Lessor shall be removed or altered by Lessee. 
  
 Public Access. Lessor reserves the right at all times to exclude the general public from the Building upon such days and at such hours as in Lessor’s sole judgment
will be in the best interest of the Building and its Lessees. 
  
 Wires. No wires
of any kind or type (including but not limited to TV, and radio antennas) shall be attached to the outside of the Building and no wires shall be run or installed in any part of the Building without Lessor’s prior written consent. 
  

 23 

  
 ADDENDUM “D”

 Tenant Improvement Rules and Regulation 
  
 1. If requested by Lessor, Lessee, at its expense, will provide and furnish to Lessor payment and performance bonds or other similar
assurances in amounts equal to 150% of the costs and expenses of the work to be performed by the Lessee. 
  
 2. Lessee, at its expense, will promptly repair or replace, or at Lessor’s election reimburse Lessor for the cost of repairing or replacing, property of Lessor that may be damaged, lost or destroyed in the
performance of the work or as a result thereof. 
  
 3. Lessor will have no
responsibility for or in connection with the work; Lessee, at its expense, will remedy and be responsible for all defects in the work, whether appearing during its progress or after completion and whether the same affect the Premises in particular
or any of the Building in general. 
  
 4. If performance of the work requires that
additional services or facilities be provided and Lessor agrees to provide them, on request Lessee will pay to Lessor a reasonable charge for the same. 
  
 5. In performing the work, Lessee and its employees, agents and contractors will not interfere with any work being done by the Lessor or others. 
  
 6. Lessee’s work is to be performed on weekdays, Monday through Friday; work to be
performed at other times will be performed only after obtaining Lessor’s written consent and will be done only when a representative of Lessor is present. 
  

7. Contractors and their personnel, workmen and agents are to use the freight elevator only (in any); or, if no freight elevator exists, only the rear entrance of the
Premises. 
  
 8. Demolition of partitions and removal of rubbish will be done
during hours first approved by Lessor in writing. All such materials are to be taken from the Premises through the delivery entrance of the Building, by the freight elevator only (if any); or, if not freight elevator exists, only through the rear
entrance of the Premises. 
  
 9. Electrical and power panel balancing will be
maintained by and at the expense of Lessee during the entire period of Lessee work. 
  
 10. Core drilling and concrete cutting will be performed during hours first approved by Lessor in writing. 
  
 11. Workmen performing work in or entering adjacent lessee area (if permitted) are to be accompanied by a representative of Lessor. 
  
 12. If a shutdown of plumbing, electrical, air conditioning and/or other equipment becomes
necessary in connection with Lessee’s work, Lessee will notify Lessor and Lessor will determine when such shutdown may be made, and at Lessor’s election any such shutdown will be done only when a representative of Lessor is present.

  
 13. Lessee and its contractors will not demolish or remove any of the
Building’s structure. 
  
 14. Lessee will provide for and pay all costs and
expenses of cleaning the work area and any cleanup required in adjacent areas as a result of Lessee’s work. 
  
 15. Any unduly loud noise complained of by other lessees will be immediately diminished to Lessor’s reasonable satisfaction or the work will cease until the noise is
so diminished. 
  
 16. Lessor will not be responsible for maintenance or balancing
of any air conditioning system or maintenance of electrical or plumbing items installed in connection with the Lessee’s work, nor for maintenance of lighting fixtures, partitions, doors, hardware or any other installations. Any hardware,
lighting fixtures or air conditioning installations now installed in the Premises which Lessee may remove and not reinstall, will, if to be stored in the Building or elsewhere in the Center, be stored by Lessee where directed by the Lessor.

  
 17. Roof openings (including, supporting structures, angles, curbs, flashing,
ducts, vents and grills) are subject to Lessor’s prior written consent in each instance, which consent will not be unreasonably withheld. Notwithstanding the foregoing, Lessor may refuse to give its consent to any roof opening that in
Lessor’s judgment exceeds the capability of the structural system. Any roof openings consented to by Lessor must be made only by such duly licensed roofing contractor as Lessor may designate or approve in writing, which approval will not be
unreasonably withheld. 
  
 18. Lessee and its contractors will follow all rules
and regulations of the building during construction as outlined in this Addendum. 
  

 24 

 19. Lessor reserves the right to revoke its consent to perform any work on written notice to the Lessee in the event of a
breach of any of the terms or conditions of this Lease, including these rules and regulations. 
  
 20. Nothing herein (a) requires compliance by Lessor or its contractors with any of the foregoing, or (b) constitutes Lessee as Lessor’s agent (Lessee to do any work herein as principal), or a waiver by Lessor of
any of the terms or provisions of this Lease. 
  
 21. Lessee must provide the
following before commencing any work in their suites: 
  
 a) (2) copies of GC’s or Lessee’s subcontractor, as may apply, liability insurance naming Merin Hunter Codman, Inc. and the Lessor as additional insured. 
  
 b) (2) copies of approved building permit. Permit to include sufficient information to describe the work and
designate the name and suite number of tenant or if the work is extensive provide copies of plans and specifications as approved by the Building Department with the permit. (Building Management reserves the right to review and approve additional
items and comments that may be required by the Building Department before commencement of the work.) 
  
 22. Upon completion of the work Lessee shall provide to the Lessor 
  
 a) (2) copies each of final inspection report indicating that the work has been completed in accordance with the permit issued by the
Building Department. 
  
 (b) (2) copies each of
“as-built” drawings indication the alterations and relocating of existing construction (mechanical, electrical, etc...) if applicable. 
  
 (c) (2) copies each of “Final Releases” in accordance with the Florida Lien Laws from contractors and suppliers associated with
the work. Including the GC’s. 
  
 (d) (2)
copies each of permit plans including approved fire sprinkler drawings 
  
 (e) (2) copies of all equipment operating and maintenance manuals. 
  
 (f) (2) copies of GC one year warranty on labor and materials for the improvement. 
  
 (g) (2) copies of all other manufacturer
guarantees/warrantees on the improvements Manufacturer’s guarantees/warrantees shall name Lessor as beneficiary where Lessor is or shall become responsible for the repair and maintenance of the installation. 
  
 23. Parking is prohibited in front of the main entrance to the building at anytime.

  
 24. Entry to the building for construction personnel and delivery is
restricted to the side entrance only. 
  
 25. First floor stairway doors are to
remain closed at all times. 
  
 26. All corridor and lobby finishes require
protection during construction. 
  
 27. All entry doors to the building must be
kept closed. 
  
 28. Doors or openings to suites must be closed or fitted with
protective sealing devises to keep dust from the corridors and surrounding Lessees. 
  
 29. Protect filters at air handler units at work floor with temporary dust barrier. 
  
 30. The building is a smoke free environment and smoking is not permitted on the premises. 
  
 31. Use designated smoking area at side entrance. 
  
 32. One of fee elevators will be designated for material deliveries ( Management will select). 
  
 33. Elevator finishes must be protected at all times. 
  
 34. Construction personnel may use toilet facilities on the work floor only. All other toilet facilities are off limits to construction
personnel. 
  
 35. Radios are not permitted. Keep noise to a minimum at all times.

  
 36. Lunches and breaks can be taken in the space under construction. Lunch
trash is prohibited from being left in the building over night. 
  

 25 

 37. Locate construction dumpsters at the loading space by the side entrance. 
  
 38. Contractor is responsible for protecting paved area. 
  
 39. Use of building trash containers is prohibited. 
  
 40. Please refer to instructions in Fire Pump room for refilling system and testing fire
sprinkler system. 
  
 41. There is a $250.00 penalty for “false alarms”
(see attached memo). 
  

 26 

 ADDENDUM “F” 
 MAINTENANCE OBLIGATIONS 
  
 Gather all waste paper and place for disposal. 
 Empty and wash all ashtrays 
 Sweep and/or dust all floor surfaces. 
 Vacuum clean all carpeted areas. 
 Dust all office furniture. 
 Dust counters, file cabinets and sanitize
telephones. 
 Dust all ledges and flat surfaces within reach. 
 Properly arrange furniture in offices. 
 Spot clean desk tops. 
 Empty and clean out urns on each lobby area of elevators. 
 Remove fingerprints from doors and partition glass. 
 Clean and sanitize restroom fixtures and fittings. 
 Clean and refill all
restroom dispensers from stock. 
 Spot wash restroom walls, partitions and doors. 
 Wash and sanitize exterior containers. 
 Clean and disinfect restroom floors. 
 Clean and sanitize toilets, toilet seats and urinals. 
 Clean, sanitize and
polish all drinking fountains. 
 Clean and polish all metal hardware. 
 Vacuum elevator lobbies above first floor. 
 Spot clean spills from carpet, if possible. 
 Wash marble lobby floor. 
  

 27 

 ADDENDUM “G” 
 BASE RENT SCHEDULE 
  
 Notwithstanding
anything contained in the Lease to the contrary, Lessee shall pay Lessor the following Base Rent as per the terms noted in Paragraph C of the Lease: 
  

										
	 TERM

	  	RATE

	  	ANNUAL BASE RENT

	  	MONTHLY BASE RENT

	 Months 1 -12
	  	$	19.00	  	$	427,975.00	  	$	35,664.58
	 Months 13 - 24
	  	$	19.71	  	$	443,967.75	  	$	36,997.32
	 Months 25 - 36
	  	$	20.45	  	$	460,636.25	  	$	38,386.35
	 Months 37 - 48
	  	$	21.22	  	$	477,980.50	  	$	39,831.71
	 Months 49 - 60
	  	$	22.02	  	$	496,000.50	  	$	41,333.38

  
 In addition to the above noted Base
Rent, Lessee shall pay all applicable sales taxes. 
  

 28 

  
 ADDENDUM “H”

 SPECIAL CLAUSES 
  

	1.	OPTION TO EXTEND TERM. 

  
 Lessee shall have one (1) five-year option to extend the term of this Lease (the “Extension Options”). Lessee shall be required to give Lessor written notice of
its opinion of the fair market annual base rent (“New Annual Rental”) as of the date of the commencement of the term of the Extension Option in question at least twelve (12) months (but not earlier than fifteen (15) months) prior to said
commencement date. Within twenty (20) days thereafter, Lessor shall provide to Lessee written notice whether Lessor agrees with Lessee’s opinion of what the New Annual Rental should be or, if not, Lessor’s opinion of New Annual Rental.
Within twenty (20) days of receipt from Lessor of that written notice, Lessee shall notify Lessor by written notice whether Lessee wishes to accept Lessor’s determination of New Annual Rental. If Lessee does not accept Lessor’s
determination, Lessee shall give Lessor written notice of either (i) Lessee’s then opinion of New Annual Rental, (ii) that Lessee does not wish to exercise the Extension Option, or (iii) that new Annual Rental shall be determined by the
arbitration procedure provided below. There shall be no limit on the number of written notices either Lessee or Lessor may deliver to the other in their efforts to agree upon the New Annual Rental, except that Lessee must inform Lessor by written
notice at least nine (9) months prior to the commencement of the term of the Extension Option in question, whether Lessee elects to (i) accept Lessor’s last determination of New Annual Rental, (ii) not exercise the applicable Extension Option,
or (iii) agree to exercise the Extension Option at the New Annual Rental determined by the arbitration procedure provided below. 
  
 New Annual Rental shall be the fair market annual rent for the Premises, taking into account the commencement date of the Option term, the availability of parking and the
terms and conditions of this Lease, including operating expenses and the Annual Rental which Lessee is then quoting for vacant space in the Office Park and/or at which Lessor has leased comparable space in the Office Park within the previous one
hundred eighty (180) days. Should there be no comparable vacant space in the Building, the determination may take into account comparable vacant space in office buildings within a three- (3) mile radius of the Premises. The term fair market annual
rent shall mean the annual rent and other economic terms (e.g., periodic adjustments, tenant renovations and operating expenses) for that space which would be paid by a willing lessee to a willing lessor, neither of whom is compelled to rent,
for a term of five (5) years, but not less than the amount payable during the last month of the term preceding the commencement of the term of the Extension Option in question. All other terms and conditions of the Lease shall remain in effect
during the term except that Paragraph(s) 7A Addendum B, and Addendum H, Sections 1-2 of the Lease shall not be effective or enforceable during the extended term(s). 
  
 In the event that Lessor and Lessee cannot agree on a New Annual Rental and Lessee has provided written notice to Lessor of Lessee’s
desire to have New Annual Rental determined through arbitration, the matter shall be submitted for decision to the American Arbitration Association in Palm Beach County, Florida, in accordance with the then rules of said association, and the
arbitrators must be licensed commercial real estate brokers (or MAI appraisers) familiar with the Premises and the area within a three (3) mile radius of the Premises. The cost of said Arbitrators shall be paid by Lessor if the decision is that the
New Annual Rental (disregarding other economic terms) should be less than 95% of the last amount demanded by Lessor in its notices of New Annual Rent above; shall be paid by Lessee if the decision is that the New Annual Rental (likewise disregarding
other economic terms) should be 105% or more of the last amount demanded by Lessor in its notices of New Annual Rent above; and shall be paid equally by Lessor and Lessee if the decision is other than the two alternatives stated above. The
arbitration procedure shall not take more than thirty (30) days. However, if the arbitrators have not determined New Annual Rental prior to the commencement of the term of the Extension Option in question, Lessee shall pay the rental rate previously
in effect under the Lease, plus a five percent (5%) increase until such time as the arbitrators determine the New Annual Rental. If the arbitration procedure results in an even higher rental rate, Lessee will make up the difference with the next
monthly rental payment due. If the arbitration procedure results in a lower rental rate (viz., equal to or greater than the amount payable during the last month of the term preceding the term of the Extension Option in question, but less than the
amount paid as a consequence of the aforesaid five percent (5%) increase), Lessee shall receive a credit against its next Monthly Rental payment, and any succeeding monthly payments, if necessary, in an amount equal to the overpayment. 

 
 Except in connection with a Permitted Assignment, the Extension Options shall be personal
to Lessee and may not be exercised or be assigned, voluntarily or involuntarily, by or to any person or entity other than Lessee, nor shall the Extension Options be assignable separate and apart from this Lease. Lessee shall not have the right to
exercise the Extension Options, notwithstanding anything set forth above to the contrary: (1) during the time commencing from the date Lessor gives to Lessee a written notice that Lessee is in default under any provision of this Lease, and
continuing until the default described in said notice is cured; or (2) during the period of time commencing on the day after a monetary obligation to Lessor is due from Lessee and unpaid and continuing until the obligation is paid. 
  
 The period of time within which the Extension Options may be exercised shall not be extended
or enlarged by reason of Lessee’s inability to exercise such Extension Options prior to satisfaction of the foregoing conditions precedent. All rights of Lessee to any Extension Options shall terminate and be of no further force or effect if
three (3) Events of Default by Lessee have occurred. 
  

	2.	FIRST RIGHT TO NEGOTIATE 

  
 So long as no current Event of Default exists and so long as three (3) Events of Default by Lessee have not occurred during the Lease Term, and subject to any similar
rights granted to tenants occupying the Building prior to Lessee, Lessee shall have the first right to negotiate for any second generation space (any space which has previously been occupied by a tenant) that becomes available on the third
(3rd) floor of the Building during the initial term of the Lease. 
  

 29 

 Upon Lessor’s notification of the availability of such space, Lessee shall have thirty (30) days to negotiate
acceptable leasing terms with Lessor. Failure of the parties to negotiate acceptable terms in good faith within thirty (30) days shall waive Lessee’s rights to the space and Lessor shall be free to lease the space to another tenant without
penalty or delay. 
  

	3.	PARKING 

  
 Lessor may make available per separate agreement, covered reserved parking spaces. Pursuant to that separate agreement, Lessor shall make available up to 8 covered parking spaces for the employees of Lessee provided
that contracts on those spaces are signed within eight (8) months of the commencement of the Lease Term. 
  

	4.	SIGNAGE 

  
 Lessor shall provide Lessee with building standard lobby directory and suite entrance signage. Lessor, at Lessee’s expense, shall install and maintain an identification sign in the top space on the entry wall as
identified in Exhibit A, attached hereto (“Signage”), subject to and conditioned upon the conditions set forth in this section, and only in accordance with plans and specifications which must be submitted to Lessor and approved in writing
by Lessor. 
  
 Approval by Lessor of any of Lessee’s drawings and plans and
specifications prepared in connection with the Signage shall not constitute a representation or warranty of Lessor as to the adequacy or sufficiency of such drawings, plans and specifications or the improvements to which they relate, for any use,
purpose or condition, but such approval shall merely be the consent of Lessor as required hereunder. 
  
 Lessor shall maintain the Signage in a clean, safe, operable and attractive condition and shall not permit or allow the Signage to remain in any waste or damage. Lessor shall obtain all permits and attend to all
regulations imposed by laws or necessitated by its installation and use of the Building for the Signage, and Lessee shall cooperate with Lessor when necessary to obtain such permits and comply with such regulations. The cost of any repair or
replacement work performed by Lessor under this section shall be paid by Lessee to Lessor immediately upon Lessor’s demand therefore as Additional Rent. 
  
 Within thirty (30) days after the expiration or sooner termination of this lease, Lessor shall at Lessee’s sole expense, cause the Signage to be removed and restore
the original signage and areas to where Signage was affixed to its condition prior to the making and installation of Lessee’s Signage. Lessee shall promptly reimburse Lessor, as Additional Rent under the Lease, for the cost of such work, which
reimbursement obligations shall survive expiration or termination of the Lease. 
  
 Should Lessee fail to place Lessor-approved Signage on the Building within one hundred eighty (180) days of occupying the Premises for any reason within Lessee’s control, Lessor, at its sole option, may revoke Lessee’s
rights to such Signage by providing Lessee with written notice of such revocation. 
  
 The rights to signage as described herein are personal to the Lessee and may not be transferred to any other party, including by operation of sublease or assignment, except in connection with a Permitted Assignment/Sublease, and then
with Lessor’s approval at Lessor’s reasonable discretion. 
  

	5.	SUPPLEMENTAL AIR CONDITIONING 

  
 Lessee shall utilize a separate and supplemental air conditioning system to service the Premises together with the necessary lines to operate such air
conditioning system through the mechanical chases of the Building and appropriate devices to measure its electrical consumption (collectively the “Supplemental System”), subject to the conditions set forth in this Section. Lessor has
agreed to include these items in Lessor’s Work at Lessee’s expense pursuant to Paragraph 7A of the Lease and Addendum B. All specifications of the Supplemental System are subject to Lessor’s reasonable approval. 
  
 Lessee shall maintain the Supplemental System and the affected areas of the
Building in a clean, safe, operable and attractive condition and shall not permit or allow the Supplemental System or the affected areas of the Building to remain in any waste or damage where said waste or damage is attributable to the Lessee.
Lessor further hereby grants Lessee the non-exclusive use of certain portions of the Building during the life of the Lease to use and maintain the Supplemental System. Lessee shall repair or replace, subject to Lessor’s reasonable direction and
supervision, any damage to the Building caused by the use and maintenance of the Supplemental System by Lessee or Lessee’s agents, contractors or invitees. 
  

If Lessee fails to make such repaid or replacements within fifteen (15) days of Lessor’s written notice of the occurrence of such damage, then
Lessor may make the same at Lessor’s cost. The cost of any repair or replacement work performed by Lessor under this Section shall be paid by Lessee to Lessor immediately upon Lessor’s demand therefor. All work described in this Section
shall be performed by duly licensed and skilled contractors and sub-contractors approved by Lessor in Lessor’ sole discretion. Lessee shall cause all contractors and sub-contractors to procure and maintain insurance coverage against such risks,
in such amounts, and with such companies as may be reasonably acceptable to Lessor, and if requested by Lessor in writing to procure payment and performance bonds reasonably satisfactory to Lessor covering the cost of the work. All such work shall
be performed in good and workmanlike manner so as not to damage the Building, the primary structure or structural qualities of the Building, or plumbing, electrical lines or other utility transmission facilities of the Building. 
  
 Any repairs or maintenance shall be made in accordance with the provisions of
this Lease for full payment and prohibition on mechanics’ liens. Lessee shall comply with all laws, orders, rules and regulations relating to the use, condition, ownership, operation, repair, removal and maintenance of the Supplemental System.

  

 30 

 If because of installation of the Supplemental System, the rate of insurance on the Building or its contents increases,
Lessor shall provide Lessee with written proof thereof from the given insurance carrier(s), and then Lessee shall pay to Lessor the amount of such increase within 15 days after written demand from the Lessor, and failure to do so shall be a default
under this Lease. 
  
 Appropriate electrical consumption measuring
devices (“Device”) shall be installed and shall interface with the existing on-site Building management computer system, with appropriate software programming of Device and existing computer system, so mat Lessor can remotely monitor
Lessee’s electrical usage of the Supplemental System. Lessee shall pay to Lessor, as additional Rent, an amount equal to the cost of electricity as measured monthly and based on rates of service then currently being charged to Lessor by the
electrical utility provider, plus a fee of $50.00 per month, as additional Rent, when payment is demanded by Lessor. 
  
 Lessee agrees that Lessor has no obligation to provide any electrical or other services, perform any work or make any repairs to permit Lessee to operate
the Supplemental System other than as provided herein. Once installed, Lessee may not relocate the Supplemental System without the prior written consent of Lessor. 
  
 Upon the expiration or earlier termination of this Lease, Lessee shall at Lessee’s sole expense, cause the Supplemental
System to be removed and restore the Premises to its condition prior to the making and installation of the Supplemental System, reasonable wear and tear excepted. In the event Lessee fails to remove or repair as required in this paragraph, then
Lessor may undertake such options necessary to remove and/or repair and bill Lessee for costs of same which sums will he due on demand. Lessee shall promptly reimburse Lessor, as Additional Rent under the Lease, for the cost of such work, which
reimbursement obligations shall survive termination of the Lease. Lessor shall not be liable to Lessee in any way for any interruption, curtailment, failure or defect in the Supplemental System unless due to Lessor’s gross negligence.

  

	6.	STANDBY GENERATOR 

  
 Lessee may install in the Real Property a standby Generator (the “Generator”) for purposes of providing HVAC and normal electrical service to the Premises in the event of failure of electricity at the
Building. Failure to install Generator within the first year of the Lease Term shall at Lessor’s option result in Lessee’s forfeiture of its right to install said Generator. Purchase and installation of the Generator shall be considered
Lessee’s Work as per Paragraph 7B of the Lease. Notwithstanding, Lessor agrees, at Lessee’s option, to include these items in Lessor’s Work pursuant to Paragraph 7A of the Lease. Specifications for the Generator shall be provided by
Lessee in writing to Lessor within ten (10) days following execution of the Lease by both Lessee and Lessor. All specifications of the Generator are subject to Lessor’s reasonable approval. 
  
 The installation of the Generator may not include any alteration, modification, substitution
or change to the structural, mechanical, electrical, plumbing, HVAC and sprinkler systems within or serving the Premises or Building, The installation, use and maintenance of the Generator shall be made in accordance with all federal, state and
municipal laws, ordinances, notices, orders, rules, regulations and requirements and the requirements of all public liability, fire and other policies of insurance covering the Premises, each including the treatment, production, storage, handling,
transfer, processing, transporting, use, disposal and release of hazardous substances, toxic or radioactive matter. Lessee shall maintain the Generator in good and working condition subject to all appropriate environmental monitoring and regulation
of the Generator as required by law, insurance carriers, or manufacturer. If Lessor requires Lessee to remove any of its alterations, additions, fixtures or improvements that are made in the Premises pursuant to this Lease, prior to the expiration
of this Lease or within thirty (30) days after its termination Lessee will remove the Generator at Lessee’s sole cost and will restore the Premises, Building and Real Property to the condition in which they were before the Generator was
installed. Lessee shall indemnify and hold harmless Lessor, its partners, affiliates, and agents from and against any damages, claims, judgments, fines, penalties, costs, liabilities (including sums paid in settlement of claims), or loss and
expenses (including without limitation fees of attorneys, paralegals, investigators, and experts) arising out of or in connection with the installation, operation and maintenance of the Generator by Lessee, its agents, contractors, employees,
licensees or invitees and the removal, cleanup and restoration work and materials necessary to return the Premises and any other property of whatever nature (including, but not limited to, property adjacent to or in the vicinity of the Premises and
the Building) to their condition prior to the installation of the Generator. This indemnity shall survive the expiration or earlier termination of this Lease as to any event occurring during the Term of this Lease. 
  
 Lessee shall maintain the Generator and the facilities associated therewith
in a clean, safe, operable and attractive condition and shall not permit or allow the Generator or the Building to remain in any waste or damage. Lessee must obtain all permits and attend to all regulations imposed by laws or necessitated by its use
of the Generator. 
  
 Lessee shall repair or replace, subject to
Lessor’s reasonable direction and supervision, any damage to the Generator and/or the Building caused by the use and maintenance of the Generator by Lessee or Lessee’s agents, contractors or invitees. If Lessee fails to make such repairs
or replacements within fifteen (15) days of Lessor’s written notice of the occurrence of such damage, then Lessor may make the same at Lessor’s cost. The cost of any repair or replacement work performed by Lessor under this Section shall
be paid by Lessee to Lessor immediately upon Lessor’s demand therefor. All work described in this Section shall be performed by duly licensed and skilled contractors and sub-contractors approved by Lessor in Lessor’ sole discretion. Lessee
shall cause all contractors and sub-contractors to procure and maintain insurance coverage against such risks, in such amounts, and with such companies as may be reasonably acceptable to Lessor, and if requested by Lessor in writing to procure
payment and performance bonds reasonably satisfactory to Lessor covering the cost of the work. All such work shall be performed in good and workmanlike manner so as not to damage the Building and its surrounding areas, the primary structure or
structural qualities of the Building, or plumbing, electrical lines or other utility transmission facilities of the Building. 
  

 31 

 If at any time during or after the term and any extended term of this Lease, Lessee becomes aware of any
inquiry, investigation, administrative proceeding or judicial proceeding regarding the installation, operation and maintenance of the Generator, Lessee shall within five (5) days after first learning of such inquiry, investigation or proceeding give
Lessor written notice providing all available information regarding such inquiry, investigation or proceeding. Upon notice of any environmental default by Lessee under the Lease, in addition to the other remedies provided in this Lease, Lessor may
cure such default by cleaning up the Premises and any sums expended by Lessor thereunder shall be reimbursed by Lessee immediately upon demand by Lessor, such reimbursement obligations to survive termination of this Lease. Lessor shall have the
option of notifying any governmental agencies as a result of any environmental default by Lessee under the Lease and negotiating the remedial action and penalty on account of it, if any. Lessor reserves the right to enter the Premises to inspect and
conduct periodic environmental audits related to the Generator, at the expense of Lessee and subject to the provisions of Section 29 hereof. 
  
 Lessee shall restrict the operation of the Generator to only those times when electric service to the Premises is interrupted for more than five minutes
for any reason other than non-payment of electric charges. In addition, Lessee may operate the Generator during periods of uninterrupted electric service for periods not to exceed a total of 15 minutes in a 24-hour period, after 6 p.m. and prior to
8 a.m., Monday through Friday and after 1 p.m. and before 8 a.m. on Saturday or Sunday and in addition, one (1) continuous period of up to eight (8) hours once every 12 months, provided said operation does not violate rules and laws of the
appropriate governmental bodies or property owner associations and falls within the date and time frame specified above. Lessee shall notify Lessor in writing at lease five (5) business days prior to running the Generator for the extended continuous
time frame of up to eight (8) hours. With the exception of periods of interrupted power, failure to abide by these restrictions shall be considered an event of default under the Lease. Lessor’s rights to cure include, but are not limited to,
actions to immediately shut down the Generator. 
  
 Lessor shall not be liable to
Lessee in any way for any interruption, curtailment, failure or defect in the supply or character of electricity furnished to the Premises by reason of any requirement, act or omission of Lessor or of any public utility or other company servicing
the Building with electricity, by the failure to operate of Lessee’s standby Generator referenced herein or for any other reason except Lessor’s gross negligence. 
  

	7.	ACCESS 

  
 Subject to casualty and condemnation, Lessee shall have twenty-four hour, seven day a week access to the Premises. 
  

	8.	DEBT 

  
 As of June 1,2004, Lessor represents to Lessee that no party has a loan secured by the Premises or the Real Property. Lessor intends, subsequent to the date of this Lease, to obtain a mortgage loan, secured by the
Premises, together with the Building and Improvements thereon. 
  

	9.	ENVIRONMENTAL 

  
 As of the effective date of this Lease, Lessor represents, to its actual knowledge (with no duty to investigate), that Lessor has not used the Real Property, Building or Premises (nor authorized the use of the Real
Property, Building or Premises) for the disposal or release of any hazardous or toxic material in such amounts as would reasonably necessitate any response or corrective action under any applicable environmental law, ordinance or regulation as
reasonably interpreted by Lessor. Lessor shall be obligated to comply with all governmental directives issued pursuant to applicable laws regarding the presence of any hazardous or toxic material in or on the Premises, the Building or lie Property
(excluding any obligations for which Lessee is otherwise responsible pursuant to this Lease). 
  

	10.	LESSOR’S DEFAULT; LESSEE’S REMEDIES 

  
 If Lessor fails to observe or perform any term or covenant required to be observed or performed by it under this Lease, and Lessor does not cure such failure within
thirty (30) days after receipt of written notice from Lessee specifying such failure and requesting that it be remedied, then, Lessee shall be entitled, at its election, to: (i) sue Lessor for damages or other monetary recovery, (ii) exercise self
help to perform the repairs, maintenance or services that Lessor failed to perform without any setoff or reduction in Rent, or (iii) exercise concurrently or successively, any one or more of the rights available in law or equity under the
laws of the United States or the State of Florida. Notwithstanding the foregoing to the contrary, Lessee shall have no right, and hereby expressly waives any right to, terminate this Lease as a result of such default except in connection with
Lessee’s claim for constructive or actual eviction. 
  

	11.	LANDLORD’S INSURANCE 

  
 Lessee shall maintain such insurance coverages as required by any institutional lender or lenders holding a mortgage or deed of trust encumbering its interest in the Real
Property. In the event no such mortgage or deed of trust exists, then from and after the date that is twelve (12) months from the date of this Lease and thereafter, Lessor shall maintain, with commercially reasonable deductibles, insurance on the
“Special-Form” or equivalent form on a Replacement Cost Basis against loss or damage to the Building, in an amount of at least 90% of the replacement value of the Building (excluding excavations, foundations and footings and
excluding all fixtures and property required to be insured by Lessee under this Lease). 
  

 32 

  
 EXHIBIT “A”

 to Addendum “H” 
  
 [GRAPHIC OMITTED] 
 Sheet A1 

 
 [GRAPHIC OMITTED] 
  

 33 

 ADDENDUM “I” 
 DECLARATION OF UNITY OF CONTROL 
  
 and 
  
 DECLARATION OF
COVENANTS, CONDITIONS, 
 EASEMENTS AND RESTRICTIONS 
  
 ( See Attached) 
  

 34 

 PREPARED BY AND RETURN TO: 
  
 Steven Cohen, Esq. 
 Holland & Knight LLP

 625 N. Flagler Drive, Suite 700 
 West Palm Beach, FL 33401

  
 DECLARATION OF UNITY OF CONTROL 
  
 THIS DECLARATION OF UNITY OF CONTROL (the “Declaration”) is made
this 5 day of September, 2001, by 7100 FAIRWAY LLC, a Florida limited liability company (the “Declarant”), whose principal address is 1601 Forum Place, Suite 200, West Palm Beach, FL 33401. 
  
 W I T N E S S ET H: 
  
 WHEREAS, Declarant owns a parcel of land located in the City of Palm Beach
Gardens, Florida, and more particularly described on Exhibit “A” attached hereto and made a part hereof (the “Property”); and 
  
 WHEREAS, the Property is being developed by the construction of two office buildings and other appurtenant facilities in accordance with that certain site
plan as approved by the City of Palm Beach Gardens Resolution 55, 1998, as may be amended from time to time, (the “Site Plan”), a copy of which is attached hereto as Exhibit “B” and made a part hereof; and 
  
 WHEREAS, Section 290 of the Land Development Regulations of the City of Palm
Beach Gardens provides that following approval of a boundary plat, a property owner may further subdivide a parcel of land by a metes and bounds description in accordance with certain terms and conditions set forth in said Section 290; and

  
 WHEREAS, Declarant, as owner of the Property, intends to
subdivide the site into two separate parcels by metes and bounds description (sometimes referred to as “Parcel 1” and “Parcel 2”) and may convey the separate subdivided Parcel 1 and Parcel 2 to separate owners; and 
  
 WHEREAS, this Declaration is made and entered into pursuant to the
appropriate provisions of the ordinances and Land Development Regulations of the City of Palm Beach Gardens; and 
  
 WHEREAS, the City of Palm Beach Gardens will be a direct third party beneficiary to all the terms, conditions and provisions of this Declaration.

  

 1 

 NOW, THEREFORE, in consideration of the mutual covenants contained in this Declaration and other good and
valuable considerations, the receipt and sufficiency of which are hereby acknowledged, Declarant declares the Property will be restricted by, and subject to, all of the following covenants and conditions: 
  
 1. Recitals. The foregoing recitals are true and correct
and are incorporated herein by reference. 
  
 2. Unity of
Control. Control of the “Common Areas” (as such term is hereinafter defined) shall be by the Declarant or any assignee thereof. In the event that the Property is owned from time to time by more than one owner, such owners
shall jointly and equally exercise control over the Common Areas. “Common Areas” as used herein shall mean and refer to all portions of the Property designated or depicted as paths, sidewalks, benches, roadways, drives, vehicular and
pedestrian circulation areas, parking areas, common signage, utility facilities including lift stations, storm drainage elements, stormwater retention areas, patio areas and lakes, lawns, landscaped areas, exterior lighting facilities and similar
common elements or portions of the Property generally available for public use, all as may be shown on the Site Plan. Common Areas shall not include any reserved covered parking areas. In all events, the Property or any subdivided portion thereof
shall remain subject to the Site Plan. 
  
 3. Conditions of
Approval. The Declarant by execution hereof, agrees that the ownership and operation of the Property shall be subject to all applicable conditions of approval of the Site Plan. 
  
 4. Common Access and Maintenance. By execution of this
Declaration, the Declarant agrees as follows: 
  
 A. The Property
or any subdivided portion thereof shall remain as a part of the overall approved Site Plan. 
  
 B. The owners of the Property from time to time, or any subdivided portions thereof, shall have a right and easement to enjoy and use, and shall retain perpetual non-exclusive access to, the Common Areas for the
purposes intended. 
  
 C. The Declarant or its assigns, as the
owner or owners of the entire Property, shall retain responsibility for the maintenance of all Common Areas within the Property. 
  
 D. In the event that subdivided Parcel 1 and Parcel 2 are conveyed to separate owners, the owners from time to time of Parcel 1 and Parcel 2 each shall be
jointly and severally responsible for the costs and expenses related to the management, maintenance, operation, repair and replacement of the Common Areas, irrespective of whether such Common Areas are located within Parcel 1 or Parcel 2.

  

 2 

 5. Unified Plan of Development. All buildings, structures, uses and parking areas on
the Property are and shall be a part of a single unified plan of development, regardless of ownership, all in accordance with the Site Plan. Any modification of or amendment to the approved Site Plan initiated by the Declarant, its successors in
interest or assignees, will require the consent and joinder of all owners of any subdivided portion of the Property. 
  
 6. Easements. The Declarant hereby grants and establishes the following non-exclusive free and unobstructed easements, licenses and
privileges for the benefit of the Property and the owners of any subdivided parcel thereof and their successors, assigns, tenants, customers and business invitees: 
  
 i) to use the parking areas on the Property (excluding reserved covered parking) for the parking, ingress and egress of
motor vehicles; 
  
 ii) for ingress and egress by vehicular and
pedestrian traffic over and across all parking areas, parking lots, roadways and similar facilities for ingress and egress to and from all buildings and improvements on the Property to adjoining public streets; 
  
 iii) for the installation, operation, maintenance and replacement of
utilities necessary to serve the property or any subdivided part thereof, together with the right to install, maintain, use, repair or replace underground pipes, ducts, conduits and cables as may be necessary to transmit or distribute necessary or
desired utility services (including, without limitation, electricity, gas, water, sewer, cable, drainage, telephone and lighting) under such present and future areas of the Property constituting parking areas, roadways and other common areas as
shown on the Site Plan and through such other portions of the Property which specifically provide for such utilities, provided the same do not materially interfere with the use and enjoyment of the Property or any subdivided portion thereof;

  
 iv) for surface water drainage over, under and across the
Property or such subdivided portions thereof as constituting parking areas, roadways, lawns and other common property as depicted on the Site Plan as well as through other portions of the Property which specifically provide for water drainage
facilities, provided the same do not materially interfere with the use and enjoyment of the Property or any subdivided portion thereof. 
  
 7. Covenants Run with the Land. All the covenants, easements and restrictions set forth in this Declaration shall be perpetual and
shall constitute covenants running with the land, shall be binding upon any and all persons and entities, their respective successors in interest, assigns and others having any right, title or interest in and to the Property or any portion thereof
and all benefits 

  

 3 

 
that no such additional covenant, agreement, or declaration shall modify or negate the provisions this Declaration. 
  
 IN WITNESS WHEREOF, the Declarant has executed this Declaration as of
the day and year set forth above. 
  

									
	 Signed, sealed and delivered
 in the presence of:
	 	 	 	 “Declarant”

			
	 WITNESSES:
	 	 	 	 7100 FAIRWAY LLC, a Florida
 limited liability company

				
	 	 	/s/    BARBARA ROBERTSON        	 	 	 	 
	 Print Name:
	 	Barbara Robertson	 	 	 	By:	 	/s/    RICHARD D. SEGAL        
	 	 	 	 	 	 	 Print Name:
	 	Richard D. Segal
	 	 	/s/    JANET GALLOTELLO        	 	 	 	 Its:
	 	Managing Member
	 Print Name:
	 	Janet Gallotello	 	 	 	 	 	 

  
 STATE OF NEW YORK 
 COUNTY OF WESTCHESTER 
  
 The foregoing instrument was acknowledged before me this 5th day of Sept. 2001 by Richard D. Segal, as Managing Member of 7100 FAIRWAY, LLC, a Florida
limited liability company, who is personally known to me 
  

					
			
	(SEAL)	 	 	 	/s/    ASCENSINA D.
TOOKMANIAN        
	 	 	 	 	 
	 	 	 	 	Notary Public-State of NEWYORK
	 	 	 	 	Commission Number: ___________
	 	 	 	 	 ASCENSINA D. TOOKMANIAN
 Notary Public, State of New York
 No.4672920
 Qualified in Putnam County
 Term
Expires Sept. 21, 2002

  

 4 

 EXHIBIT “A” 
  
 FAIRWAY OFFICE PARK 
  
 DESCRIPTION: 
  
 A PARCEL OF LAND LYING IN SECTION 10, TOWNSHIP 42 SOUTH RANGE 42 EAST, PALM BEACH COUNTY, FLORIDA, BEING MORE PARTICULARLY DESCRIBED AS FOLLOWS: 
  
 COMMENCING AT THE INTERSECTION OF THE EAST RIGHT-OF-WAY OF AVENUE OF THE CHAMPIONS, PER PGA RESORT COMMUNITY FLAT NO. 1. AS RECORDED IN PLAT
BOOK 36, PAGES 198 THROUGH 200 OF THE PALM BEACH COUNTY PUBLIC RECORDS, WITH THE SOUTH RIGHT-OF-WAY OF PGA BOULEVARD (STATE ROAD 788); THENCE _ 88_27’03’’ E, ALONG SAID SOUTH RIGHT-OF-WAY, 4259 FEET TO THE POINT OF BEGINNING; THENCE CONTINUING S 88_27’03” E, ALONG SAID SOUTH RIGHT-OF-WAY, 842.16 FEET; 
  
 THENCE S 01_32’57” W,
756.03 FEET TO A POINT ON THE ARC OF A CURVE TO THE RIGHT WHOSE RADIUS POINT BEARS IN 12_16’25” W FROM
SAID POINT, BEING ON THE NORTH RIGHT-OF-WAY OF FAIRWAY DRIVE PER FLAT OF FAIRWAY DRIVE AND FAIRWAY LANE. AS RECORDED IN FLAT BOOK 56, PAGES 21 THROUGH 22, PALM BEACH COUNTY PUBLIC RECORDS: THENCE WESTERLY ALONG SAID NORTH RIGHT-OF-WAY, ALONG THE ARC
OF SAID CURVE HAVING A RADIUS OF 822.50 FEET, THROUGH A CENTRAL ANGLE OF 22_13’18”, 319.00 FEET TO THE
POINT OF TANGENCY: THENCE CONTINUING ALONG SAID RIGHT-OF-WAY, N 80_03’07” W 307.06 FEET: THENCE N
41_13’50” W, 31.34 FEET TO A POINT ON THE ARC OF A CURVE TO THE LEFT WHOSE RADIUS POINT BEARS S
87_35’27” W FROM SAID POINT BEING FURTHER DESCRIBED AS BEING ON THE EAST RIGHT-OF-WAY OF THE SAID AVENUE
OF CHAMPIONS; THENCE NORTHWESTERLY, ALONG THE ARC OF SAID CURVE HAVING A RADIUS OF 362.00 FEET THROUGH A CENTRAL ANGLE OF 20_41’15”, 130.71 FEET TO A POINT OF COMPOUND CURVATURE; THENCE NORTHWESTERLY ALONG THE ARC OF SAID CURVE HAVING A RADIUS OF 116.00 FEET, THROUGH A CENTRAL ANGLE OF 31_32’57”, 63.87 FEET TO A POINT ON THE OF A CURVE TO THE LEFT WHOSE RADIUS BEARS N 84_36’12” W FROM SAID POINT: THENCE NORTHERLY, ALONG THE ARC OF SAID CURVE HAVING A RADIUS OF 276.00 FEET, 171.10 FEET TO THE POINT OF TANGENCY: THENCE N
01_30’41” E, ALONG THE EAST RIGHT-OF-WAY OF THE SAID AVENUE OF THE CHAMPIONS, 290.51 FEET: THENCE S
88_29’19” E, 15.32 FEET; THENCE N 01_33’57” E, 26.90 FEET: THENCE N 46_31’49” E, 35.76 FEET: THENCE S 88_31’19” E, 26.96 FEET: THENCE N 01_32’57” E, 15.30 FEET TO THE POINT OF BEGINNING. 
  
 SAID LANDS SITUATE, LYING AND BEING IN PALM BEACH COUNTY, FLORIDA SUBJECT TO ALL PERTINENT MATTERS OF PUBLIC RECORD. 
  
 CONTAINING 12.065 ACRES, MORE OR LESS. 
  

 EXHIBIT “B” 
  
 RESOLUTION 55, 1998 
  
 A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF PALM BEACH GARDENS, FLORIDA, PROVIDING FOR APPROVAL OF SITE PLAN FOR TWO OFFICE BUILDINGS TO BE KNOWN AS
THE FAIRWAY OFFICE CENTER LOCATED WITHIN THE PGA NATIONAL PLANNED COMMUNITY DISTRICT; PROVIDING FOR CONDITIONS OF APPROVAL; AND, PROVIDING FOR AN EFFECTIVE DATE. 
  
 WHEREAS, the City’s Growth Management Department has received and reviewed an application from Seavest, Inc. for the
Fairway Office Center, totaling 176,600 square feet, to be located with the PGA National Planned Community; 
  
 WHEREAS, the City’s Growth Management Department is recommending approval of the Fairway Office Center petition; and 
  
 WHEREAS, the City’s Growth Management Department has determined that
approval of said application is consistent with the City’s Comprehensive Plan. 
  
 NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF PALM BEACH GARDENS, FLORIDA: 
  
 Section 1. The City Council of the City of Palm Beach Gardens, Florida, hereby approves a site plan for the construction of 176,600 square feet of
office space in two buildings located on 12 acres within the PGA National Planned Community. 
  
 Section 2. Said approval shall be consistent with plans filed with the City’s Growth Management Department as follows: 
  

	 	1.	June 23, 1998 Site Plan by M.J.Anderson Architectural Services INC., Sheet A 1.1 

  

	 	2.	July 2, 1998 Landscape Development Plan by George G. Gentile & Associates, INC., Sheet L-1. 

  

	 	3.	May 28, 1998 Elevations by M.J. Anderson Architectural Services INC., Sheet A 3.1. 

  
 Section 3. Said site plan approval shall comply with the following conditions: 
  

	1.	Prior to the issuance of the first Building Permit, the applicant shall provide a handicap access ramp at the 7-foot sidewalk just east of the loading spaces to provide access for
the two relocated handicap spaces, 

  

	2.	Prior to the issuance of the first Certificate of Occupancy, the petitioner shall obtain permission from FDOT, if possible, for the placement of a concrete sidewalk in the PGA
Boulevard right of way. The concrete sidewalk be completed from the eastern portion of the subject site to the southeast corner of Ryder Cup Boulevard and PGA Boulevard. In the event that the Florida Department of Transportation does not allow
placement of the concrete sidewalk in the PGA Boulevard right-of-way in the area north of the lake, by the time required to construct the sidewalk, the petitioner shall instead construct a 5 foot wide concrete sidewalk around the south and west side
of the lake instead of the wood chip walkway currently reflected on the plans so as to connect the sidewalk along PGA Boulevard with the sidewalk along Avenue of Champions. The sidewalk along Avenue of Champions shall extend along the west side of
the property north to the right-of-way line of PGA Boulevard, in a form and location satisfactory to the city. 

  

	3.	Prior to the issuance of the first Building Permit, the plans shall be revised to provide for planting of an additional 12 Washingtonian Palms on the north and west elevations of
the buildings, six (6) per building, and to provide for a concrete sidewalk from the entrance of the Phase II building eastward to the optional paving area, which shall be constructed if such parking area is constructed. 

  
 Section 4. The approval of this petition is contingent upon the
approval of the following waiver: 
  

	 	a.	Waiver of Section 118-204(f) Building Height Limit, from 36 feet to 62 feet in height. 

  
 Section 5. This Resolution shall be effective upon adoption. 
  
 PASSED AND ADOPTED THIS THE 16th DAY OF JULY, 1998. 
  

					
	 	 	 	 	 
			
	  	 	 	 	/s/    JOSEPH RUSSO        
	 	 	 	 	JOSEPH RUSSO, MAYOR

  

									
	 ATTEST
	 	 	 	 APPROVED AS TO LEGAL FORM AND

	 LINDA V. KOSIER
	 	 	 	 SUFFICIENCY.

					
	By:	 	/s/    LINDA V. KOSIER        	 	 	 	 	 	/s/    Illegible        
	 	 	 	 	 	 	 	 	CITY ATTORNEY
				
	 VOTE:
	 	 	 	 	 	 AYE    NAY    ABSENT

	 MAYOR RUSSO
	 	 	 	 	 	   þ         ̈             ̈

  

							
	 VICE MAYOR FURTADO
	 	 þ
	 	  ̈
	  	  ̈

	 COUNCILMAN SABATELLO
	 	 þ
	 	  ̈
	  	  ̈

	 COUNCILMAN JABLIN
	 	 þ
	 	  ̈
	  	  ̈

	 COUNCILMAN CLARK
	 	 þ
	 	  ̈
	  	  ̈

  
 Resolution _5, 1998 
 Page 3 
  

 [GRAPHIC OMITTED] 
  

			
	 SKETCH & DESCRIPTION
	 	 
	     EXHIBIT “C”
	 	 

  
 DESCRIPTION: 
  
 TWO PARCELS OF LAND BEING PORTIONS OF “FAIRWAY OFFICE CENTER” ACCORDING TO THE PLAT
THEREOF, AS RECORDED IN PLAT BOOK 89. PAGES 98 & 99 OF THE PUBLIC RECORDS OF PALM BEACH COUNTY, FLORIDA, BEING MORE PARTICULARLY DESCRIBED AS FOLLOWS: 
  
 PARCEL “1”: 
  
 SAID PLAT OF “FAIRWAY OFFICE CENTER”, LESS THE FOLLOWING DESCRIBED PARCEL: 
  
 COMMENCING AT THE SOUTHEAST CORNER OF SAID PLAT; THENCE NORTH 01_32’57” EAST. ALONG THE EAST LINE OF SAID PLAT, A DISTANCE OF 67.77 FEET TO THE POINT OF
BEGINNING; 
  
 THENCE CONTINUE NORTH 01_32’57” EAST, ALONG SAID EAST
LINE, A DISTANCE OF 660.56 FEET; THENCE SOUTH 82_27’15” 2 WEST, A DISTANCE OF 340.73 FEET; THENCE SOUTH
01_11’16” WEST, A DISTANCE OF 131.34. FEET: THENCE SOUTH 86_15’55” EAST, A DISTANCE OF 167.13 FEET; THENCE SOUTH 37_10’41”. EAST, A DISTANCE OF 63.67 FEET; THENCE SOUTH 64_59’34’ WEST, A DISTANCE OF 61.97
FEET; THENCE SOUTH 77_58’28” WEST, A DISTANCE OF 80.52 FEET: THENCE SOUTH 11_53’50” EAST. A
DISTANCE OF 296.51 FEET: THENCE SOUTH 77_08’53” EAST. A DISTANCE OF 47.30 FEET; THENCE SOUTH. A DISTANCE OF 92.70 FEET; THENCE NORTH 84_36’52” EAST, A DISTANCE OF 145.70 FEET TO THE POINT OF BEGINNING. 
  
 SAID LANDS SITUATE. LYING AND BEING IN PALM BEACH COUNTY, FLORIDA. 
 SUBJECT TO ALL PERTINENT MATTERS OF RECORD. 
 CONTAINING 8.614 ACRES, MORE OR
LESS. 
  

							
	 SURVEYOR’S NOTES:
	 	 	 	 
			
	 1)      SKETCH AND DESCRIPTION BASED ON THE PLAT OF “FAIRWAY OFFICE
CENTER” AS RECORDED IN PLAT BOOK 89, PAGES 98 & 99 OF THE PUBLIC RECORDS OF PALM BEACH COUNTY, FLORIDA.
  
 2)      THIS INSTRUMENT IS NOT A SKETCH OF SURVEY.
  
 3)       UNLESS
IT BEARS THE SIGNATURE AND THE ORIGINAL RAISED SEAL OF A FLORIDA LICENSED SURVEYOR AND MAPPER. THIS MAP/
	 	 	 	 RPB CONSULTING, INC.
 STATE OF FLORIDA LB. NO. 7022

	           REPORT IS FOR INFORMATIONAL PURPOSES AND IS NOT VALID.
	 	 	 	BY:	 	 
	 	 	 	 	 	 	 FOR THE
FIRM:                                       
         DATE
 ROBERT P. BLASZYK
 PROFESSIONAL LAND SURVEYOR & MAPPER
 STATE OF FLORIDA REG. NO. 4133

  

					
	 RPB Consulting, Inc.
 Land Surveying and Mapping
 ________________________________
 ___________________________
	 	 Fairway Office Center
 at PGA
 Parcels 1 & 2
	 	 PROJ. NO.: R–00
 DATE: 4/16/01
 SHEET 1 OF 3

  

			
	 SKETCH & DESCRIPTION
	 	 
	     EXHIBIT “C”
	 	 

  
 PARCEL “2”: 
  
 A PORTION OF SAID “FAIRWAY OFFICE CENTER”. BEING MORE PARTICULARLY DESCRIBED AS
FOLLOWS: 
  
 COMMENCING AT THE SOUTHEAST CORNER OF SAID PLAT; THENCE NORTH
01_32’57” EAST. ALONG THE EAST LINE OF SAID PLAT, A DISTANCE OF 67.77 FEET TO THE POINT OF BEGINNING: 
  
 THENCE CONTINUE NORTH 01_32’57” EAST, ALONG SAID EAST LINE. A DISTANCE OF 660.56 FEET; THENCE SOUTH 82_27’15” WEST. A DISTANCE OF 340.73 FEET; THENCE
SOUTH 01_11’16” WEST, A DISTANCE OF 131.34 FEET; THENCE SOUTH 86_15’55” EAST. A DISTANCE OF 167.13 FEET; THENCE SOUTH 37_10’41” EAST. A DISTANCE OF 63.67 FEET; THENCE SOUTH 64_59’34” WEST., A DISTANCE OF 61.97 FEET; THENCE SOUTH 77_58’28” WEST, A DISTANCE OF 80.52 FEET; THENCE SOUTH
11_53’50” EAST. A DISTANCE OF 296.51 FEET; THENCE SOUTH 77_08’53” EAST. A DISTANCE OF 47.30
FEET; THENCE SOUTH. A DISTANCE OF 92.70 FEET; THENCE NORTH 84_36’52” EAST. A DISTANCE. OF 145.70 FEET TO
THE POINT OF BEGINNING. 
  
 SAID LANDS SITUATE, LYING AND BEING IN PALM BEACH
COUNTY, FLORIDA. 
 SUBJECT TO ALL PERTINENT MATTERS OF RECORD. 
 CONTAINING 3.451 ACRES, MORE OR LESS. 
  

					
	 RPB Consulting, Inc.
 Land Surveying and Mapping
 ____________________________
 _______________________
	 	 Fairway Office Center
 at PGA
 Parcels 1 & 2
	 	 PROJ. NO: R–00
 DATE.: 4/16/01
 SHEET 2 OF 3

  

			
	 SKETCH & DESCRIPTION
	 	 
	 EXHIBIT “C”
	 	 

  
 [GRAPHIC OMITTED]

  

					
	 RPB Consulting, Inc.
 Land Surveying and Mapping
 ________________________________
 ___________________________
	 	 Fairway Office Center
 at PGA
 Parcels 1 & 2
	 	 PROJ. NO.: R–00
 DATE: 4/16/01
 SHEET 3 OF 3

  

 PREPARED BY AND RETURN TO: 
 Steven Cohen, Esq. 
 Holland & Knight LLP 
 625 N.
Flagler Drive, Suite 700 
 West Palm Beach, FL 83401 
  
 DECLARATION OF COVENANTS, CONDITIONS, 
 EASEMENTS AND RESTRICTIONS 
  
 THIS
DECLARATION OF COVENANTS, CONDITIONS, EASEMENTS AND RESTRICTIONS (the “Declaration”) is made this     /         day of Nov., 2001, by 7100 FAIRWAY LLC, a Florida limited
liability company (the “Declarant”), whose principal address is 1601 Forum Place, Suite 200, West Palm Beach, FL 33401. 
  
 W I T N E S S E T H: 
  
 WHEREAS, Declarant owns a parcel of land located in the City of Palm Beach Gardens, Florida, and more particularly described on Exhibit
“A” attached hereto and made a part hereof (the “Property”); and 
  
 WHEREAS, the Property is being developed by the construction of two office buildings and other appurtenant facilities in accordance with that certain site plan as approved by the City of Palm Beach Gardens Resolution
55, 1998, as may be amended from time to time (the “Site Plan”), a copy of which is attached hereto as Exhibit “B” and made a part hereof; and 
  
 WHEREAS, Section 290 of the Land Development Regulations of the City of Palm Beach Gardens provides that following approval
of a boundary plat, a property owner may further subdivide a parcel of land by a metes and bounds description in accordance with certain terms and conditions set forth in said Section 290; and 
  
 WHEREAS, Declarant, as owner of the Property, has subdivided the site into
two separate parcels by metes and bounds description as more particularly described on Exhibit “C” attached hereto and made a part hereof (sometimes referred to as “Parcel 1” and “Parcel 2”) and may convey the
separate subdivided Parcel 1 and Parcel 2 to separate owners; and 
  
 WHEREAS, the Declarant has previously executed a Declaration of Unity of Control pursuant to the appropriate provisions of the Ordinances and Land Development Regulations of the City of Palm Beach Gardens, as recorded in Official Records
Book 12926 at Page 1269 of the Public Records of Palm Beach County; Florida (the “Declaration of Unity of Control”), for the purposes of ensuring (i) a unified plan of development on the Property, and (ii) a unity of control over the
Common Areas located on the Property (as such term is defined in the Declaration of Unity of Control); and 
  

 1 

 WHEREAS, Declarant wishes to establish certain covenants, conditions, restrictions, easements and other
provisions hereinafter set forth, in part, to provide for an allocation of assessments and costs between the owners of the Property, a process of ensuring for the payment of assessments and costs as are necessary for common maintenance and for
otherwise carrying out the intent of the Declaration of Unity of Control. 
  
 NOW, THEREFORE, the Declarant hereby declares that the Property is and shall be held, transferred, sold, conveyed and occupied subject to the covenants, conditions, restrictions, easements and other provisions
hereinafter set forth. 
  
 ARTICLE I 
  
 PROPERTY 
  
 1.1 Property. The Property subjected to the terms of this Declaration
shall consist of all of the property described on Exhibit “A” attached hereto and made a part hereof, all of which Property is currently owned by Declarant. The Property is to be developed in accordance with the Site Plan, a copy of
which is attached hereto as Exhibit “B” and made a part hereof. The Property has been subdivided into two (2) separate parcels as more particularly described on Exhibit “C” attached hereto and made a part hereof
(each of which parcel may be sometimes referred to as a “Parcel”). 
  
 ARTICLE II 
  
 COMMON AREAS 
  
 2.1 Common Areas.
The “Common Areas” as such term is used herein shall mean and refer to the Common Areas as such term is defined in the Declaration of Unity of Control. 
  
 ARTICLE III 
  
 COVENANTS RUN WITH LAND: BINDING OBLIGATION 
  
 3.1 Covenants Run with the Land. All the covenants, easements and restrictions set forth in this Declaration shall be perpetual and shall
constitute covenants running with the land, shall be binding upon any and all persons and entities, their respective successors in interest, assigns and others having any right, title or interest in and to the Property or any portion thereof and all
benefits deriving therefrom shall accrue to the benefit of all such persons, parties and entities. 
  

 2 

 3.2 Binding Obligation. Any record owner from time to time of the fee simple title to the
Property, or any portion thereof (the “Owner”), its legal representatives, successors and assigns shall be bound by this Declaration to the same extent and effect as if such Owner had joined in the execution hereof for the purpose herein
expressed, including, but not limited to: 
  
 (i)
Subjecting all of the Owner’s right, title and interest in its Parcel and tangible personal property thereon to the lien rights imposed hereunder; 
  
 (ii) Ratifying, confirming and consenting to the execution and recording of the Declaration; 
  
 (iii) Covenanting to perform each and every covenant,
promise and undertaking to be performed by each Owner hereunder; and 
  
 (iv) Ratifying, confirming and consenting to each and every provision herein and acknowledging that all of the terms and provisions herein are reasonable. 
  
 ARTICLE IV 
  
 GENERAL COVENANTS OF OWNERS 
  
 4.1 Approval of Improvements. No building or other structure, or improvement or addition of any nature shall be erected, placed, altered or
relocated until (i) the plans and specifications have been approved by the PGA Property Owners Association, Inc. (the “Association”), in accordance with its governing documents, as may be amended from time to time, and (ii) all
governmental approvals have been obtained. Notwithstanding the foregoing, the Site Plan for the construction of two (2) office buildings and related improvements has been previously approved by Association and by the City of Palm Beach Gardens.

  
 4.2 Governmental Regulations. The use of the Property
shall be in compliance with the Site Plan, the Development Order, all applicable laws, rules, regulations, ordinances, and statutes including, without limitation, all governmental land use, zoning and environmental regulations, and the terms of this
Declaration. 
  
 4.3 Refuse. All garbage and trash shall be
deposited in appropriate receptacles within areas designated for that purpose or as depicted on this Site Plan. All such receptacles shall be maintained in a clean, neat and sanitary manner and, except during pickup times, shall be housed
continuously in enclosures acceptable to the applicable waste management service responsible for waste pickup. 
  

 3 

 4.4 Nuisance. No noxious or offensive activity shall be allowed on any portion of the Property,
nor shall anything be done that is or may become a nuisance or annoyance to any Owner; provided, however, that Declarant and any builder shall be entitled to engage in activities related to the development, sale and leasing of the Property or any
portion thereof. 
  
 4.5 Prohibited Structures. No
structure of a temporary character, trailer, tent or shack shall be erected or placed on a Parcel at any time; provided, however, that with the prior written permission of the Declarant construction sheds and trailers used to facilitate ongoing
construction may be located upon a Parcel during the active course of construction upon such Parcel. 
  
 4.6 Land Use Regulations. The minimum standards, rules, and regulations of any applicable governmental body, district, board, department, agency or
the like shall be complied with by each Owner. In the development, use, and operation of a Parcel, each Owner must comply with all applicable governmental permits pertaining to the development, use, and operation of Parcel 1 and Parcel 2, including
those permits issued by the City of Palm Beach Gardens and other governmental bodies, districts, boards, departments and agencies, the Site Plan and the Development Order. 
  
 4.7 Curing Contamination; Indemnity. An Owner, at its sole cost and expense, shall take immediate action to remedy
and cure any contamination of or discharge into Parcels 1 and 2 of any other entities’ sewer, water, and other drainage system elements, to the extent that such contamination or harm arises out of such Owner’s (or other occupant’s)
use or operation of its Parcel. Each Owner shall indemnify, defend and hold harmless the other Owner from and against any and all costs, expenses, liabilities, fines, penalties and cleanup costs incurred as a result of any damage or alteration to
any such drainage systems by such Owner or its respective tenants, subtenants, invitees or legal representatives or as a result of any unlawful discharge of the Owner or its respective tenants, subtenants, invitees or legal representatives into any
such drainage system. 
  
 4.8 Signs. No sign shall be
installed or placed upon a Parcel without the prior written approval of the Declarant; provided, however, that an Owner shall be permitted to install temporary signs on its respective Parcel relating to the development, sale or leasing of such
Parcel. All signs placed on the Property shall comply with all regulations and requirements of the City, and the Association. 
  
 ARTICLE V 
  
 MAINTENANCE 
  
 5.1 Owner’s Maintenance Responsibilities. The Owner of Parcel 1 and Parcel 2, each has the obligation, at its sole cost and expense, to
maintain its respective Parcel and all improvements thereon, except to the extent that the 

  

 4 

 
Common Areas are to be maintained jointly as hereinafter provided: (i) in a safe, clean, operable and attractive condition at all times; (ii) in accordance
with aesthetic standards generally utilized for Class A office buildings located within the City or as may be agreed upon by the Owners; (iii) in compliance with the conditions set forth in the Site Plan; and (iv) in compliance with all
governmental, health, police and fire codes, ordinances, regulations and statutes applicable to such Parcel. 
  
 5.2 Maintenance of Common Areas. The Declarant, on behalf of itself and its successors and assigns, agrees that in the event that Parcel 1 and
Parcel 2 are conveyed to separate owners, the Owners of Parcel 1 and Parcel 2 shall be responsible for the costs and expenses related to the management, maintenance, operation, repair and replacement of the Common Areas. As between the Owners of
Parcels 1 and Parcel 2, each shall be responsible for fifty percent (50%) of the costs and expenses related to the management, maintenance, operation, repair and replacement of the Common Areas, irrespective of whether such Common Areas are located
within Parcel 1 or Parcel 2. The Common Areas shall be maintained jointly by the Owners of Parcels 1 and Parcel 2 in a safe, clean, operable and attractive condition at all times, in accordance with the aesthetic standards established for Parcel 1
and Parcel 2 and for common areas of similar Class A office buildings located within the City. Notwithstanding anything to the contrary provided in this Declaration in no event shall the Owner of a Parcel be responsible for its 50% share of the
costs and expenses related to the management, maintenance, operation, repair and replacement of the Common Areas until there is a substantially completed building constructed within such Parcel. “Substantially completed building” as such
term is used herein shall mean an office building for which a certificate of occupancy has been issued by the City of Palm Beach Gardens. 
  
 5.3 Maintenance Contracts. The Owners of Parcel 1 and Parcel 2 may enter into contracts with any person (including any individual, corporation,
governmental authority, partnership or association) for the maintenance and management of the Common Area, and may delegate to such person or entity all the powers and duties of the Owners of Parcel 1 and Parcel 2 as set forth herein. Additionally,
the Owners of Parcel 1 and Parcel 2 may agree from time to time to maintain a joint management office in the office building located on either Parcel 1 or Parcel 2, in which case the Owners of Parcel 1 and Parcel 2 each shall be responsible for
fifty percent (50%) of the costs and expenses related to the personnel, maintenance, operation, repair and replacement of such management office, in the same manner as Common Areas are maintained jointly. 
  
 ARTICLE VI 
  
 ASSESSMENTS 
  
 6.1 Applicability to Parcels. Parcel 1 and Parcel 2 shall be subject
to assessments as provided for in this Declaration commencing as of the date of recording of this Declaration in the public records of Palm Beach County, Florida. 
  

 5 

 6.2 Annual Assessment. The Owners of Parcel 1 and Parcel 2 shall meet at least annually to
estimate the costs and expenses reasonably expected to be incurred in connection with the management, maintenance, operation, repair and replacement of the Common Areas for the upcoming year. The Owners shall jointly agree to and enact an annual
assessment sufficient to meet this estimate, including the due date(s) for payment of such annual assessment (the “Annual Assessment”). In the event that the Owners are unable to agree upon the Annual Assessment, then such controversy
shall be determined by binding arbitration in accordance with the provisions hereinafter set forth. Until such time as the Annual Assessment for the upcoming year is determined by agreement of the Owners or by binding arbitration, the Annual
Assessment for the preceding year will control. 
  
 6.3
Arbitration. Any controversy between the Owners of Parcel 1 and Parcel 2 with respect to the purpose or amount of any assessment, shall be determined by binding arbitration in accordance with applicable Florida law and the Rules of Practice
and Procedure for the Arbitration of Commercial Disputes of Judicial Arbitration and Mediation Services, Inc. (“JAMS”). Judgment upon any arbitration will be conducted in Palm Beach County, Florida and administered by JAMS, who will
appoint the arbitrator. If JAMS is unable or legally precluded from administering the arbitration, then the American Arbitration Association will serve. All arbitration hearings will commence within 90 days of the demand for arbitration. 

 
 6.4 Amount and Use of Annual Assessments. The Annual Assessment
shall be in an amount sufficient to pay for all costs, expenses, and liabilities incurred jointly by the Owners of Parcel 1 and Parcel 2 including, but not limited to, costs, expenses and liabilities incurred with respect to (i) the administration,
maintenance, repair, replacement, landscaping, and operation of the Common Areas, (ii) professional fees (including property management, legal and accounting fees) required in connection with the Common Areas, (iii) security costs (to the extent
that the Owners of Parcels 1 and 2 agree to provide joint security services for the Property or the Common Area, and (iv) the creation of reserves as deemed necessary by the Owners of Parcels 1 and 2. 
  
 6.5 Special Assessments. In addition to the Annual Assessment, the
Owners of Parcel 1 and Parcel 2 may agree to levy and collect Special Assessments for purposes of (i) the acquisition of property, (ii) the construction, reconstruction, repair or replacement of a capital improvement located within the Common Areas,
including the necessary fixtures and personal property related thereto, and (iii) the payment of other costs, expenses, and liabilities not anticipated at the time of the adoption of the Annual Assessment, including the failure of an Owner to pay
any assessment. All notices of Special Assessment shall designate the date when the Special Assessment is due. 
  

 6 

 6.6 Certificate. The Owner of either Parcel 1 or Parcel 2 shall, upon demand and reasonable
notice, furnish to the other Owner, a certificate in writing, setting forth assessment payment information applicable to such Owner’s Parcel, and such certificate shall be conclusive evidence of payment of any assessment therein stated to have
been paid. 
  
 6.7 Lien Rights. All Annual Assessments and
Special Assessments, together with interest thereon from the due date at the maximum rate allowed by law, and the cost of collection thereof (including reasonable attorney’s fees and disbursements and administrative charges), shall constitute a
continuing lien on the Parcel that shall bind such Parcel, and shall also be the continuing obligation of the Owner of the Parcel. A claim of lien stating the description of either Parcel 1 or Parcel 2, the name of the Owner, the amount due, and the
due date may be recorded in the public records of Palm Beach County, Florida, by the Owner of the other Parcel at such time as such Annual Assessment or Special Assessment is delinquent. Such claim of lien shall secure all unpaid assessments,
interests, costs, charges and attorney’s fees and disbursements which are due, and which may accrue subsequent to the recording of the claim of lien and prior to entry of a final judgment of foreclosure. 
  
 6.8 Enforcement of Lien. The Owner of either Parcel 1 or Parcel 2 may
bring an action to foreclose any claim of lien against a Parcel in the same manner as foreclosure of a mortgage on real property, and may bring suit on the personal obligation against the applicable Owner; provided, however, that prior to bringing
an action to foreclose any claim of lien against a Parcel, the mortgagee of such Parcel shall be provided a notice of default under the Declaration with reasonable opportunity to cure such default (but only to the extent that such mortgagee has
provided prior written notice to the Owners of its mortgage lien, together with mailing address for receipt of notice of default). 
  
 6.9 Applicability to Lienors. Notwithstanding any contrary provision in this Article VI, when a mortgagee becomes an Owner upon the foreclosure of
a mortgage or as a result of a deed in lieu of foreclosure of such mortgage, such mortgagee shall not he liable for the unpaid share of assessments attributable to the subject mortgaged Parcel which became due prior to the acquisition of title to
the Parcel by such mortgagee as a result of the foreclosure, or deed in lieu of foreclosure, unless the unpaid share of assessments is secured by a recorded claim of lien. Except as otherwise provided in this Section, any mortgagee becoming an Owner
upon the foreclosure of a mortgage or as a result of a deed in lieu of foreclosure shall he liable for assessments in the same manner as any other Owner of Parcel 1 or Parcel 2. 
  

 7 

  
 ARTICLE VII

  
 EASEMENTS 
  
 7.1 Easement Rights Granted. The Declarant, pursuant to the
Declaration of Unity of Control, has granted and established the following non-exclusive free and unobstructed easements, licenses and privileges for the benefit of the Property and the owners of any subdivided parcel thereof and their successors,
assigns, tenants, customers and business invitees: 
  
 i) to use the parking areas on the Property (excluding reserved covered parking as depicted on the Site Plan) for the parking, ingress and egress of motor vehicles; the Owners of Parcel 1 and Parcel 2 shall not further reserve parking areas
for the exclusive use of any tenant except for such reserved covered parking as depicted on the Site Plan; and 
  
 ii) for ingress and egress by vehicular and pedestrian traffic over and across all parking areas, parking lots, roadways and similar
facilities for ingress and egress to and from all buildings and improvements on the Property to adjoining public streets; and 
  
 iii) for the installation, operation and maintenance of utilities necessary to serve the property or any subdivided part thereof, together
with the right to install, maintain, use, repair or replace underground pipes, ducts, conduits and cables as may be necessary to transmit or distribute necessary or desired utility services (including, without limitation, electricity, gas, water,
sewer, cable, drainage, telephone and lighting) under such present and future areas of the Property constituting parking areas, roadways and other common areas as shown on the Site Plan and through such other portions of the Property which
specifically provide for such utilities, provided the same do not materially interfere with the use and enjoyment of the Property or any subdivided portion thereof; and 
  
 iv) for surface water drainage over, under and across the Property or such subdivided portions thereof as
constituting parking areas, roadways, laws and other common property as depicted on the Site Plan as well as through other portions of the Property which specifically provide for water drainage facilities, provided the same do not materially
interfere with the use and enjoyment of the Property or any subdivided portion thereof. 
  
 7.2 Easement for Ingress and Egress. In addition to any easements granted pursuant to this Declaration or the Declaration of Unity of Control, a non-exclusive easement is hereby granted and reserved for the
benefit of each Owner and its respective tenants, subtenants, licensees, invitees, employees, agents, successors and assigns for ingress and egress, both pedestrian and vehicular, for the purpose of providing access to the places of business
constructed on each Parcel and parking incidental thereto, over and upon all sidewalks (which are and shall be for 

  

 8 

 
pedestrian use only), service roads, driveways, and parking areas located from time to time upon the Property. The intent of this section is to allow free
access to and from the public roads and highways abutting the Property, and over the roads and drives within the Property, to the places of business constructed upon the Property. Notwithstanding any provision in this Declaration to the contrary, no
curb, fence, hedge, or other barrier shall be constructed or maintained on the common boundary between Parcels or elsewhere on the Property so as to unreasonably interfere with or obstruct the free flow of pedestrian or vehicular traffic within the
Property or to and from the public roads and highways abutting the Property, without the prior written consent of Declarant or, after Declarant no longer owns a Parcel or any portion thereof, the Owners of Parcel 1 and Parcel 2. 
  
 7.3 Cross Access Cross Drainage and Cross Utility Easements. In
addition to any easement granted pursuant to this Declaration or the Declaration of Unity of Control, the Owners of each Parcel shall have a perpetual, non-exclusive easement for (i) access, ingress and egress over the remaining Parcel, (ii) access
over the internal road(s) within Parcels 1 and 2 as depicted on the Site Plan, and (iii) storm water management and drainage purposes and utilities and telecommunications systems installation, repair, maintenance and removal over, the remaining
Parcel. Each of the easements granted or reserved in this section or elsewhere in this Article shall be limited to those areas designated or referenced for the intended purposes as depicted on the Site Plan, or as otherwise specified by Declarant.
However, to the extent easement areas as actually constructed differ from the Site Plan or any other designation by Declarant, the easements shall extend to the as-build improvements on each Parcel, and in no event shall any such easements be deemed
to extend on, over, under or across any portion of the Property at any time used for the construction of building improvements thereon. 
  
 7.4 Easement Rights of Declarant. Declarant reserves for itself, its designees, legal representatives, successors and assigns, perpetual and
temporary easements for any and all purposes over the Property and any portion thereof, at any time, without the need for any joinder, ratification or consent by any Owner, or any mortgagee or lienholder; provided, however that such easements shall
not encroach upon any building or otherwise materially interfere with an Owner’s use of its Parcel. If requested by Declarant, any Owner, and any lienholder of mortgagee shall join in all documents specifically describing the easements reserved
hereunder to evidence such easements. All easements reserved hereunder may be used at Declarant’s option for any purpose including, but not limited to (i) using, draining into, dredging and maintaining any lakes and water management tracts
within the Property; (ii) hauling any fill, dirt, or other materials arising from the development of the Property or surrounding property; and (iii) constructing, installing, operating, maintaining, repairing, inspecting, extending or replacing any
improvements and systems servicing the Property or surrounding properties, monitoring wells, drainage and irrigation systems, signage, security systems, utility systems (including, but not limited to, electric, gas, water, sewer, telephone, cable

  

 9 

 
television, cable distribution, and communications systems), landscaping and water areas, parking areas and pedestrian access. 
  
 ARTICLE VIII 
  
 INSURANCE 
  
 8.1 Owner’s Insurance Responsibilities. Each Owner shall maintain
insurance on that portion of the Common Areas located within the Owner’s Parcel and any and all improvements located thereon (collectively “Insured Property”), in such amount as determined annually by the Owners in their discretion.
Such coverage shall afford protection against (i) loss or damage by fire, flood, or other hazards covered by a standard extended coverage endorsement, and (ii) such other risks as are customarily covered with respect to improvements similar to the
Insured Property in construction, location and use. Each Owner shall maintain comprehensive general public liability and property damage insurance covering loss or damage resulting from accidents or occurrences on, about or in connection with the
Insured Property or any work or actions taken related to the Insured Property, with such coverage as shall be required by the Owners in their discretion and, if feasible, with a cross-liability endorsement to cover liability of the Owners in the
aggregate to any Owner, and vice versa. Each Owner shall keep the buildings and all other improvements within the Owner’s Parcel (including Common Areas) insured in an amount not less than one hundred percent (100%) of the full insurable
replacement value thereof, excluding foundation and excavation costs. If separate insurance policies are maintained for Common Areas, then the Owners of Parcel 1 and 2 shall each be responsible for fifty (50%) percent of the costs and expenses
related to maintenance of such insurance of Common Areas; and to the extent that each Owner separately incurs the cost of insurance coverage for Common Areas located within its respective Parcel, the Owner of Parcel 2 agrees to reimburse the Owner
of Parcel 1 for any additional cost of insurance coverage by reason of additional Common Area located within Parcel 1. Subject to the prior rights of mortgagees, any proceeds received from insurance against injury to or damage or destruction of the
Owner’s improvements, shall first be applied to the repair, restoration, or reconstruction of such improvements. In addition, each Owner may obtain insurance coverage at such Owner’s own expense and at the Owner’s own discretion upon
all other property within the Owner’s Parcel including, but not limited to, the Owner’s personal property, and for the Owner’s personal liability and public liability, title and any other risk. 
  

 10 

 ARTICLE IX 
  
 REMEDIES 
  
 9.1 Rights of Owners for Violation by an Owner. In the event an Owner violates any provision of this Declaration, the other Owner shall have the
right to: 
  
 A. Seek any available relief at law
or in equity, including but not limited to, damages and injunctive relief; 
  
 B. After five (5) days prior written notice to the Owner (except in an emergency, when no notice shall be required), enter (or designate the proper Persons to enter) upon the Owner’s Parcel or any part of the
Common Areas and abate, cure or remove such violation, carry out the Owner’s obligations, or otherwise remedy the violation, without being liable for any manner of trespass or constructive eviction, or any damages; and 
  
 C. Charge the Owner for all costs and expenses (including,
but not limited to, reasonable attorneys’ fees and disbursements) incurred in seeking and enforcing any of the remedies provided for herein, which charge shall constitute a lien against the Owner’s Parcel. 
  
 9.2 Attorneys’ Fees. In the event that attorneys’ fees and
disbursements are incurred at any level of litigation or other form of legal proceedings arising under this Declaration (including, but not limited to trial and appellate proceedings), the prevailing party shall be entitled to reimbursement from the
other party or parties to the litigation for the reasonable attorneys’ fees and disbursements incurred by the prevailing party. 
  
 ARTICLE X 
  
 OBLIGATIONS OF OWNER 
  
 10.1 Each Owner agrees that it shall be responsible for the payment and satisfaction of all obligations that may become liens against its Parcel pursuant
to this Declaration. Further, the amount of any lien granted to any Owner hereunder shall include, but not be limited to, the costs of enforcing the lien (including, but not limited to reasonable attorneys’ fees and disbursements) and interest
on the amount of the lien at the highest rate allowed by law, and each such lien may be foreclosed in the same manner as a mortgage against real property. Any lien granted by or arising under this Declaration shall be effective as of the date that a
claim of lien for such lien is recorded in the Public Records of Palm Beach County, Florida. 
  
 ARTICLE XI 
  
 AMENDMENT 
  
 11.1 General
Procedure. Except as otherwise specifically provided in this Declaration, any of the terms and provisions in this Declaration may be amended or deleted, and new terms and provisions may be created, by an amendment to this Declaration approved by
the Owners of Parcel 1 and Parcel 2. Any amendment shall be evidenced by a Certificate of Amendment executed with the formalities of a 

  

 11 

 
deed, which shall be placed of record in the Public Records of Palm Beach County, Florida, and shall include the recording data identifying this Declaration.

  
 ARTICLE XII 
  
 DURATION 
  
 12.1 This Declaration shall continue in full force and effect for ninety (90)
years from the date of this Declaration is recorded, and shall be continued automatically, and without further notice, from such date for periods of ten (10) years each, unless at least six months prior to the expiration of the period a termination
of this Declaration, a termination signed by all Owners of the Property (with joinder and consent of any Mortgagee) is recorded in the Public Records of Palm Beach County, Florida. In the event this Declaration is terminated under this Article, or
any other provision or Article contained herein, a similar Declaration shall be executed and recorded in the Public Records of Palm Beach County, Florida, if necessary to insure a continuation of the operational, administrative, and maintenance
services performed with respect to the Common Areas. 
  
 ARTICLE XIII 
  
 SEVERABILITY

  
 13.1 The determination that any provision of this
Declaration is unenforceable, invalid or void, shall not affect the enforceability or validity of any other provision herein. 
  
 ARTICLE XIV 
  
 APPLICABLE LAW. VENUE 
  
 14.1 This Declaration shall be interpreted according to the law of the State of Florida, and the proper venue of any actions arising hereunder shall be
Palm Beach County, Florida. 
  
 IN WITNESS WHEREOF, the
Declarant has executed this Declaration as of the day and year set forth above. 
  

									
	 Signed, sealed and delivered in the presence of:
	 	 	 	 “Declarant”

			
	 WITNESSES:
	 	 	 	 7100 FAIRWAY LLC, a Florida limited liability company

					
	 	 	/s/    BARBARA ROBERTSON        	 	 	 	By:	 	/s/    RICHARD D. SEGAL        
	 Print Name:
	 	Barbara Robertson	 	 	 	 Print Name:
	 	Richard D. Segal
	 	 	 	 	 	 	 Its:
	 	Managing Member
					
	 	 	/s/    JANET GALLOTELLO        	 	 	 	 	 	 
	 Print Name:
	 	Janet Gallotello	 	 	 	 	 	 

  

 12 

 STATE OF N.Y. 
 COUNTY OF
WESTCHESTER 
  
 The foregoing instrument was acknowledged before
me this   /      day of November, 2001, by Richard Segal, as Managing Member of 7100 FAIRWAY, LLC, a Florida limited liability company, who has produced
                                        
             as identification. 
  
 (SEAL) 
  

	
	
	/s/    ASCENSINA D.
TOOKMANIAN        
	Notary Public-State of N.Y.

  

	
	Commission Number:                     
	
	ASCENSINA D. TOOKMANIAN
	Notary Public, State of New York
	No. 4672920
	Qualified in Putnam County
	Term Expires Sept.
                            

  

 13 

  
 EXHIBIT “A”

  
 FAIRWAY OFFICE PARK 
  
 DESCRIPTION: 
  
 A PARCEL OF LAND LYING IN SECTION 10, TOWNSHIP 42 SOUTH, RANGE 42 EAST, PALM BEACH COUNTY, FLORIDA, BEING MORE PARTICULARLY DESCRIBED AS
FOLLOWS: 
  
 COMMENCING AT THE INTERSECTION OF THE EAST RIGHT-OF -WAY OF AVENUE OF
THE CHAMPIONS, PER PGA RESORT COMMUNITY PLAT NO. 1, AS RECORDED IN PLAT BOOK 36, PAGES 198 THROUGH 200 OF THE PALM BEACH COUNTY PUBLIC RECORDS WITH THE SOUTH RIGHT-OF-WAY OF PGA BOULEVARD (STATE ROAD 788); THENCE S 88_27’03” E, ALONG SAID SOUTH RIGHT-OF-WAY, 42.5_ FEET TO THE POINT OF BEGINNING; THENCE CONTINUING S 88_27’03”
E, ALONG SAID SOUTH RIGHT-OF-WAY, 842.16 FEET; 
  
 THENCE S 01_32’57” W,
756.03 FEET TO A POINT ON THE ARC OF A CURVE TO THE RIGHT WHOSE RADIUS POINT BEARS N 12_16’25” W FROM SAID
POINT, SAID POINT BEING ON THE NORTH RIGHT-OF-WAY OF FAIRWAY DRIVE, PER PLAT OF FAIRWAY DRIVE AND FAIRWAY LANE. AS RECORDED IN PLAT BOOK 56, PAGES 21 THROUGH 22, PALM BEACH COUNTY PUBLIC RECORDS; THENCE WESTERLY ALONG SAID NORTH RIGHT-OF-WAY, ALONG
THE ARC OF SAID CURVE HAVING A RADIUS OF 822.50 FEET, THROUGH A CENTRAL ANGLE OF 22_13’18”, 319.00 FEET TO
THE POINT OF TANGENCY; THENCE CONTINUING ALONG SAID RIGHT-OF-WAY, N 80_03’07” W 307.06 FEET; THENCE N
41_73’50” W, 31.34 FEET TO A POINT ON THE ARC OF A CURVE TO THE LEFT WHOSE RADIUS POINT BEARS S
87_35’27” W FROM SAID POINT BEING FURTHER DESCRIBED AS BEING ON THE EAST RIGHT-OF-WAY OF THE SAID AVENUE
OF CHAMPIONS; THENCE NORTHWESTERLY, ALONG THE ARC OF SAID CURVE HAVING A RADIUS OF 362.00 FEET. THROUGH A CENTRAL ANGLE OF 20_41’15”,130.71 FEET TO A POINT OF COMPOUND CURVATURE ; THENCE NORTHWESTERLY ALONG THE ARC OF SAID CURVE HAVING A RADIUS OF 116.00 FEET. THROUGH A CENTRAL ANGLE OF 31_32’57”, 63.87 FEET TO A POINT ON THE OF A CURVE TO THE LEFT WHOSE RADIUS BEARS N 84_56’12” W FROM SAID POINT; THENCE NORTHERLY, ALONG THE ARC OF SAID CURVE HAVING A RADIUS OF 2760.00 FEET, 171.10 FEET TO THE POINT OF TANGENCY; THENCE
N 01_30’41” E, ALONG THE EAST RIGHT-OF-WAY OF THE SAID AVENUE OF THE CHAMPIONS, 290.51 FEET; THENCE S
88_29’19” E, 15.32 FEET; THENCE N 01_33’57” E 26.90 FEET; THENCE N 46_31’49” E, 35.76 FEET; THENCE S 88_31’19” E 26.96 FEET; THENCE N 01_32’57” E, 15.30 FEET TO THE POINT OF BEGINNING. 
  
 SAID LANDS SITUATE, LYING AND BEING IN PALM BEACH COUNTY, FLORIDA SUBJECT TO ALL PERTINENT MATTERS OF PUBLIC RECORD. 
  
 CONTAINING 12.065 ACRES, MORE OR LESS. 
  

 EXHIBIT “B” 
  
 RESOLUTION 55, 1998 
  
 A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF PALM BEACH GARDENS, FLORIDA, PROVIDING FOR APPROVAL OF SITE PLAN FOR TWO OFFICE BUILDINGS TO BE KNOWN AS
THE FAIRWAY OFFICE CENTER LOCATED WITHIN THE PGA NATIONAL PLANNED COMMUNITY DISTRICT; PROVIDING FOR CONDITIONS OF APPROVAL; AND, PROVIDING FOR AN EFFECTIVE DATE. 
  
 WHEREAS, the City’s Growth Management Department has received and reviewed an application from Seavest, Inc. for the
Fairway Office Center, totaling 176,600 square feet, to be located with the PGA National Planned Community; 
  
 WHEREAS, the City’s Growth Management Department is recommending approval of the Fairway Office Center petition; and 
  
 WHEREAS, the City’s Growth Management Department has determined that
approval of said application is consistent with the City’s Comprehensive Plan. 
  
 NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF PALM BEACH GARDENS, FLORIDA; 
  
 Section 1. The City Council of the City of Palm Beach Gardens, Florida, hereby approves a site plan for the construction of 176,600 square feet of
office space in two buildings located on 12 acres within the PGA National Planned Community. 
  
 Section 2. Said approval shall be consistent with plans filed with the City’s Growth Management Department as follows: 
  

	 	1.	June 23, 1998 Site Plan by M.J. Anderson Architectural Services INC., Sheet A-1.1 

  

	 	2.	July 2, 1998 Landscape Development Plan by George G. Gentile & Associates, INC., Sheet L__. 

  

	 	3.	May 28, 1998 Elevations by M.J. Anderson Architectural Services INC., Sheet 3.1. 

  
 Section 3. Said site plan approval shall comply with the following conditions: 
  

	1.	Prior to the issuance of the first Building Permit, the applicant shall provide a handicap access ramp at the 7-foot sidewalk just east of the loading spaces to provide access for
two relocated handicap spaces. 

  

	2.	Prior to the issuance of the first Certificate of Occupancy, the petitioner shall obtain permission from FDOT, if possible, for the placement of a concrete sidewalk in the PGA
Boulevard right of way. The concrete sidewalk be completed from the eastern portion of the subject site to the southeast corner of Ryder Cup Boulevard and PGA Boulevard. In the event that the Florida Department of Transportation does not allow
placement of the concrete sidewalk in the PGA Boulevard right-of-way in the area north of the lake, by the time required to construct the sidewalk, the petitioner shall instead construct a 5 foot wide concrete sidewalk along the south and west side
of the lake instead of the wood chip walkway currently reflected on the plans so as to connect the sidewalk along PGA Boulevard with the sidewalk along Avenue of the Champions.The sidewalk along the Avenue of Champions shall extend along the west
side of the property north to the right-of-way line of PGA Boulevard, in a form and location satisfactory to the City. 

  

	3.	Prior to the issuance of the first Building Permit, the plans shall be revised to provide for planting of an additional 12 Washingtonian Palms on the north and west elevations of
the buildings, six (6) per building, and to provide for a concrete sidewalk from the entrance of the Phase II building eastward to the optional paying area, which shall be constructed if such parking area is constructed. 

  
 Section 4. The approval of this petition is contingent upon the
approval of the following waiver: 
  
 a. Waiver of Section
118-204(f) Building Height Limit, from 36 feet to 62 feet in height. 
  
 Section 5. This Resolution shall be effective upon adoption. 
  
 PASSED AND ADOPTED THIS THE 16th DAY OF JULY 1998. 
  

							
				
	 	 	 	 	 	 	/s/    JOSEPH RUSSO        
	 	 	 	 	 	 	JOSEPH RUSSO, MAYOR
			
	 ATTEST:
 LINDA V. KOSIER
	 	 	 	 APPROVED AS TO LEGAL FORM AND
 SUFFICIENCY.

				
	By: 	 	/s/    LINDA V. KOSIER        	 	 	 	/s/    Illegible        
	 	 	 	 	 	 	CITY ATTORNEY

  

													
	 VOTE:
	  	AYE	  	NAY	  	ABSENT	  	 	  	 	  	 
	 MAYOR RUSSO
	  	þ	  	 ̈	  	 ̈	  	 	  	 	  	 

  

									
	VICE MAYOR FURTADO	  	þ	  	 ̈	  	 ̈	  	 
	COUNCILMAN SABATELLO	  	þ	  	 ̈	  	 ̈	  	 
	COUNCILMAN JABLIN	  	þ	  	 ̈	  	 ̈	  	 
	COUNCILMAN CLARK	  	þ	  	 ̈	  	 ̈	  	 

  
 Resolution _5, 1998 
 Page 3 
  

 [GRAPHICS OMITTED] 
  

					
	 SKETCH & DESCRIPTION
	  	 	  	 
	     EXHIBIT “C”
	  	 	  	 

  
 DESCRIPTION: 
  
 TWO PARCELS OF LAND BEING PORTIONS OF “FAIRWAY OFFICE CENTER”. ACCORDING TO THE
PLAT THEREOF. AS RECORDED IN PLAT BOOK 89, PAGES 98 & 99 OF THE PUBLIC RECORDS OF PALM BEACH COUNTY, FLORIDA. BEING MORE PARTICULARLY DESCRIBED AS FOLLOWS: 
  

PARCEL “1”: 
  
 SAID PLAT OF “FAIRWAY OFFICE CENTER”, LESS THE FOLLOWING DESCRIBED PARCEL: 
  
 COMMENCING AT THE SOUTHEAST CORNER OF SAID PLAT; THENCE NORTH 01_32’57” EAST. ALONG THE EAST LINE OF SAID PLAT, A DISTANCE OF 67.77 FEET TO THE POINT OF BEGINNING; 
  
 THENCE CONTINUE NORTH 01_32’57” EAST, ALONG SAID EAST LINE, A DISTANCE OF 660.56 FEET; THENCE SOUTH 82_27’15” 2 WEST, A DISTANCE OF 340.73 FEET; THENCE SOUTH 01_11’16” WEST. A
DISTANCE OF 131.34 FEET; THENCE SOUTH 86_15’55” EAST, A DISTANCE OF 167.13 FEET; THENCE SOUTH
37_10’41” EAST, A DISTANCE OF 63.67 FEET; THENCE SOUTH 64_59’34” WEST, A DISTANCE OF 61.97 FEET; THENCE SOUTH 77_58’28” WEST, A DISTANCE OF 80.52 FEET; THENCE SOUTH 11_53’50” EAST, A DISTANCE OF 296.51 FEET; THENCE SOUTH 77_08’53” EAST, A DISTANCE
OF 47.30 FEET; THENCE SOUTH, A DISTANCE OF 92.70 FEET; THENCE NORTH 84_36’52” EAST, A DISTANCE OF 145.70
FEET TO THE POINT OF BEGINNING. 
  
 SAID LANDS SITUATE, LYING AND BEING IN PALM
BEACH COUNTY, FLORIDA. 
 SUBJECT TO ALL PERTINENT MATTERS OF RECORD. 
 CONTAINING 8_614 ACRES, MORE OR LESS. 
  

									
	 SURVEYOR’S NOTES:
  
 1)      SKETCH AND DESCRIPTION BASED ON THE PLAT OF “FAIRWAY OFFICE CENTER” AS RECORDED
IN PLAT BOOK 89, PAGES 98 & 99 OF THE PUBLIC RECORDS OF PALM BEACH COUNTY, FLORIDA.
  
 2)      THIS INSTRUMENT IS NOT A SKETCH SURVEY.
  
 3)      UNLESS IT
BEARS THE SIGNATURE AND THE ORIGINAL RAISED SEAL OF A FLORIDA LICENSED SURVEYOR AND MAPPER, THIS MAP/REPORT IS FOR INFORMATIONAL PURPOSES AND IS NOT VALID.
	 	 	 	 
	 	 	 	 RPB CONSULTING, INC.
 STATE OF FLORIDA LB. NO. 7022

	 	 	 	 
	 	 	 	 	 	 	 BY:
	 	 
	 	 	 	 	 	 	 	 	 FOR THE FIRM:
 ROBERT P. BLASZYK
 PROFESSIONAL LAND SURVEYOR & MAPP__
 STATE OF FLORIDA REG. NO. 4133

					
			
	 RPB Consulting, Inc.
 Land Surveying and Mapping
 ___________________________________
 ____________________
	  	 Fairway Office Center
 at PGA
 Parcels 1 & 2
	  	 PROJ. NO.: R-_
 DATE: 4/__/0_
 SHEET 1 OF _

  

					
	 SKETCH & DESCRIPTION
	  	 	  	 
	     EXHIBIT “C”
	  	 	  	 

  
 PARCEL “2”: 
  
 A PORTION OF SAID “FAIRWAY OFFICE CENTER”, BEING MORE PARTICULARLY DESCRIBED AS
FOLLOWS: 
  
 COMMENCING AT THE SOUTHEAST CORNER OF SAID PLAT; THENCE NORTH
01_32’57” EAST. ALONG THE EAST LINE OF SAID PLAT, A DISTANCE OF 67.77 FEET TO THE POINT OF BEGINNING:

  
 THENCE CONTINUE NORTH 01_32’57” EAST ALONG SAID EAST LINE A DISTANCE OF 660.56 FEET; THENCE SOUTH 82_27’15” WEST. A DISTANCE OF 340.73 FEET; THENCE SOUTH 01_11’16” WEST. A DISTANCE OF 131.34 FEET; THENCE SOUTH 86_15’55” EAST. A DISTANCE OF 167.13 FEET: THENCE SOUTH 37_10’41” EAST. A DISTANCE
OF 63.67 FEET; THENCE SOUTH 64_59’34” WEST, A DISTANCE OF 61.97 FEET; THENCE SOUTH 77_58’28” WEST, A DISTANCE OF 80.52 FEET: THENCE SOUTH 11_53’50” EAST. A DISTANCE OF 296.51 FEET; THENCE SOUTH 77_08’53” EAST. A DISTANCE OF 47.30 FEET; THENCE SOUTH, A DISTANCE OF 92.70 FEET; THENCE NORTH 84_36’52” EAST, A DISTANCE OF 145.70 FEET TO THE POINT OF BEGINNING. 
  
 SAID LANDS SITUATE, LYING AND BEING IN PALM BEACH COUNTY, FLORIDA. SUBJECT TO ALL PERTINENT MATTERS OF RECORD CONTAINING 3.451 ACRES, MORE OR LESS. 
  

					
	 RPB Consulting, Inc.
 Land Surveying and Mapping
 ___________________________________
 ____________________
	  	 Fairway Office Center
 at PGA
 Parcels 1 & 2
	  	 PROJ. NO.: R-
 DATE: 4/16/0_
 SHEET 2 OF _

  

					
	 SKETCH & DESCRIPTION
	  	 	  	 
	     EXHIBIT “C”
	  	 	  	 

  
 [GRAPHIC OMITTED]

  

					
	 RPB Consulting, Inc.
 Land Surveying and Mapping
 ___________________________________
 __________________________
	  	 Fairway Office Center
 at PGA
 Parcels 1 & 2
	  	 PROJ. NO.: R-
 DATE: 4/16/0_
 SHEET 3 OF _

  

  
 ADDENDUM “J”

 OPERATING EXPENSE EXCLUSIONS 
  

	1.	Real property taxes attributable solely to transfer of the Building or any interest therein or in Lessor or a refinancing thereof or franchise, transfer, inheritance or
capital’ stock taxes or taxes imposed upon or measured by the income or profits of Lessor. 

  

	2.	Principal or interest or other charges on any debt of Lessor, except on capital improvements as stated in Section 1(E) of the Lease. 

  

	3.	Depreciation or amortization. 

  

	4.	The cost of any item or expense, which, in accordance with generally-accepted accounting principles is, or should be, capitalized on the books of Lessor, except on capital
improvements as stated in Section 1(E) of the Lease. 

  

	5.	The cost of any alterations, additions, changes or decorations which are made in order to prepare space specifically for tenant occupancy, whether new or continued.

  

	6.	The cost of performing work or furnishing services to or for any tenant, including Lessee, at Lessor’s expense, which is reimbursed to Lessor by said tenant.

  

	7.	The general overhead of Lessor and labor costs (including salaries, wages, bonuses, medical, surgical and general welfare benefits (including life insurance, pension and union and
general welfare payments and other fringe benefits, severance and sick day payments and social security and payroll taxes) and all other compensation of all administrative personnel, officers, executives and staff members of Lessor or Lessor’s
agents above the grade of building manager. 

  

	8.	Any accrued and unfunded pension or other benefits for any personnel. 

  

	9.	Any rent, additional rent, imposition or other charge under any lease (including any ground or “sandwich” lease) or sublease to or assumed by Lessor.

  

	10.	Any cost which would otherwise be an Operating Expense to the extent the same is reimbursable to Lessor by proceeds of insurance, condemnation award, refund, credit, warranty,
service contract, any tenant (including Lessee) of the Building (except reimbursement pursuant to provisions in the nature of this section) or otherwise. 

  

	11.	Brokerage and leasing commissions, legal costs (including attorney’s fees and disbursements), space planning or architectural or engineering fees, closing costs and expenses
and transfer and similar taxes, all of which are solely incurred in leasing or procuring tenants for the Building, including Lessee, or in connection with any mortgaging, financing, refinancing, transfer, sale of the Real Property or any part
thereof or interest therein, or entering into or extending or modifying any lease, including this lease, or sublease to or assumed by Lessor. 

  

	12.	The cost incurred by Lessor in performing work or furnishing any service to or for a tenant of space in the Building (including Lessee) at such tenant’s cost and expense,
regardless of the amount billed or received by Lessor for performing such work or furnishing such service. 

  

	13.	Advertising, marketing or promotional expenditures. 

  

	14.	The cost of the acquisition of any artwork (other than the costs of maintaining, insuring and securing same). 

  

	15.	Costs and expenses (including court costs, attorneys’ fees and disbursements) related to or arising under or in connection with disputes with tenants, any lessor under a lease
or holder of a mortgage or disputes which result in punitive damages being assessed against Lessor or disputes relating to claims of personal injury or property damage. 

  

	16.	The cost of any work or services performed or other expenses incurred in connection with installing, operating and maintaining any specialty service or facility other than a public
or common area of the Building, such as an observatory, broadcasting facility of any luncheon, athletic or recreational club; provided however, that this exclusion shall not apply to the cost of HVAC, cleaning or other Operating Expenses as defined
in the Lease, furnished to an area of space leased to a tenant and used by such tenant for such purposes. 

  

	17.	Any cost or expense incurred in connection with correcting latent defects or inadequacies in the Building of which Lessor has received written notice within six (6) months after the
Lease Commencement Date. 

  

	18.	Costs incurred to correct any misrepresentation by Lessor expressly made herein. 

  

	19.	Any compensation paid to clerks, attendants or other persons in commercial concessions operated by Lessor or any affiliate of Lessor. 

  

	20.	Late fees, penalties, interest charges or similar costs incurred by Lessor. 

  

	21.	Costs associated with the operation of the business of the legal entity that constitutes Lessor as the same is separate and apart from the cost of the operation of the Building,
including legal entity formation, internal entity accounting and legal matters. 

  

	22.	Costs incurred due to violation by Lessor or any tenant of the Building of the terms of any lease or any laws, rules, regulations or ordinances applicable to the Building.

  

	23.	The cost of any construction, refurbishing, reconstruction or restoration of the Building in excess of that necessary to maintain the Building as a “Class A” office
project. 

  

	24.	The cost incurred in the removal, contained, encapsulation or disposal of or repair or cleaning (or monitoring) or any areas affected by Hazardous Materials which are not part of
the normal operations of the Real Property and Building arid also which exceed Thirty-Five Thousand Dollars ($35,000.00) in any one Lease Year. 

  

	25.	Properly management and asset management fees which in the aggregate exceed the greater of six percent (6%) of gross receipts or prevailing rates. 

 

	26.	The cost (including taxes) of any utility furnished to any area of the Building lease to or occupied by Lessee or other tenants of the Building or available for leasing or occupancy
by tenants, if paid by Lessee or other tenants directly to utility provider. 

  

	27.	Un-recovered expenses resulting directly from the negligence of Lessor, or its agents, servants or employees. 

  

	28.	Any expenditures made more than twenty four (24) months prior to submission of demand. 

  

 36 

	29.	Any amount paid to an affiliate of Lessor to the extent any such amount is in excess of the amount which would be paid for comparable service and expertise in absence of such
relationship. 

  

	30.	The cost of any work or service to the extent performed for any facility other than the Building. 

  

 37Stock purchase agreement

  
 EXECUTION COPY

  
 Exhibit 10.2 
  
 STOCK PURCHASE AGREEMENT 
  
 BY AND AMONG 
  
 AMERIPATH, INC., 
  
 ST. LUKE’S PATHOLOGY ASSOCIATES, INC. 
  
 AND 
  
 KENNETH R. WATSON, D.O. 
 R. SCOTT STROBACH, M.D. 
 MICHAEL C. MORGAN, M.D. 
 JOHN R. DOBSON, III, M.D. 
 R. SCOTT
STROBACH RECOVABLE LIVING TRUST 
  
 DATED NOVEMBER 1, 2004

  

 STOCK PURCHASE AGREEMENT (the “Agreement”), dated as of November 1, 2004 by and
among AmeriPath, Inc., a Delaware corporation, or its permitted assigns (“AmeriPath”), St. Luke’s Pathology Associates, Inc., a Missouri corporation (the “Practice”) and Kenneth R. Watson, D.O., a resident of
the State of Missouri (“Watson”), R. Scott Strobach, M.D., a resident of the State of Missouri (“RSS”), R. Scott Strobach Revocable Living Trust dated August 19, 1992 (“Strobach Trust”, and together
with RSS, “Strobach”) ,Michael C. Morgan, M.D., a resident of the State of Missouri (‘Morgan”) and John R. Dobson, III, M.D., a resident of the State of Missouri (“Dobson”). 
  
 WHEREAS, Watson, Strobach, Morgan and Dobson (each a
“Seller”, and collectively, the “Sellers”) own all of the issued and outstanding shares of capital stock of the Practice (the “Shares”), it being understood that Shares held by Strobach are in the
name of the Strobach Trust; 
  
 WHEREAS, pursuant to this
Agreement, Sellers shall sell and transfer to AmeriPath, and AmeriPath shall acquire from the Sellers, the Shares, all upon the terms and subject to the conditions set forth herein; 
  
 WHEREAS, simultaneously with the execution hereof (i) the Sellers have each entered into a Termination and Release
Agreement in the form attached hereto as Exhibit A (the “Termination and Release Agreement”) with the Practice under which the Sellers and the Practice terminated all prior agreements among them (including any employment
agreements) and the Sellers released the Practice from all liability with respect thereto and (ii) each Seller entered into an employment agreement with the Practice in substantially the form attached hereto as Exhibit B (the
“Employment Agreements”); 
  
 WHEREAS,
concurrently with the execution of this Agreement, the Practice has entered into three separate Pathology Services Agreements (each a “Pathology Services Agreement” and together, the “Pathology Services Agreements”)
with Saint Luke’s Hospital of Kansas City, Inc. (“SLH”), Saint Luke’s South Hospital, Inc. (“SL South”) and Saint Luke’s Eastland Hospital, Inc. (“SL Eastland”); 
  
 WHEREAS, the Pathology Services Agreements contemplate that the
Practice will operate a laboratory and provide the hospitals that are parties thereto with specified laboratory services; 
  
 WHEREAS, concurrently with the execution of this Agreement, the Practice is entering into an Asset Purchase Agreement with SLH pursuant to which
the Practice will acquire the assets required to operate a laboratory (the “Asset Purchase Agreement”), it being understood that Sellers shall not be required to finance the Practice with sufficient funds to close the transactions
contemplated under the Asset Purchase Agreement; 
  
 WHEREAS, the Pathology Services Agreement with SLH and the Pathology Services Agreement with SL South will become effective as of the closing of the transactions contemplated under the Asset Purchase Agreement (the “Asset
Purchase Closing”); 
  

 WHEREAS, the Pathology Services Agreement with SL Eastland will become effective upon the opening
of SL Eastland; as further set forth in the Pathology Services Agreement between the Practice and SL Eastland; 
  
 WHEREAS, immediately following the Closing Date (as defined below), AmeriPath will transfer the Shares to one or more physicians licensed to
practice medicine in the State of Kansas (collectively, the “Shareholder”); 
  
 WHEREAS, in connection with the transfer of the Shares from AmeriPath to the Shareholder, AmeriPath and the Shareholder will enter into a Stock Transfer Agreement substantially in the form attached hereto as
Exhibit C (the “Stock Transfer Agreement”); 
  
 WHEREAS, in connection with the execution of this Agreement, AmeriPath (in such capacity and hereinafter referred to as “Administrator”) and the Practice have entered into that certain long-term Administrative
Services Agreement, a copy of which is attached hereto as Exhibit D (the “Administrative Services Agreement”), pursuant to which Administrator will provide administrative services on behalf of the Practice and will receive a fee
(the “Services Fee”) in exchange for the services it provides; 
  
 WHEREAS, the Services Fee will provide AmeriPath with a return on its purchase of the Shares; 
  
 WHEREAS, concurrently with the execution of this Agreement and as contemplated by the Asset Purchase Agreement, the Practice has entered into that
certain lease agreement with SLH, a copy of which is attached hereto as Exhibit D-1 (the “Lease Agreement”); 
  
 WHEREAS, promptly following the Closing (as defined below), the Shareholder shall cause the Practice to merge with and into Saint Luke’s
Pathology Associates, P.A., a Kansas professional association (“Kansas PA”) (the “Merger”); 
  
 WHEREAS, following the Merger, the business of the Practice shall be operated by Kansas PA; and 
  
 WHEREAS, pursuant to the Agreement and Plan of Merger related to the
Merger (the “Merger Agreement”), Kansas PA shall assume all of obligations of the Practice under the Employment Agreements, the Pathology Services Agreements, the Administrative Services Agreement and the Lease Agreement.

  

 2 

 NOW, THEREFORE, for and in consideration of the mutual benefits to be derived hereby and the
premises, representations, warranties, covenants and agreements herein contained, AmeriPath, the Practice and the Sellers hereby agree, intending to be legally bound, as follows: 
  
 ARTICLE I 
  
 PURCHASE OF CAPITAL STOCK 
  
 1.1 Purchase and Sale of Capital Stock. 
  
 (a) Subject to the terms and conditions of this Agreement, the Sellers hereby agree to sell and transfer the Shares to AmeriPath free and
clear of all Liens at the closing of the transactions contemplated under this Agreement (the “Closing”). At the Closing, the Sellers shall deliver to AmeriPath physical possession of the stock certificates evidencing the Shares,
together with stock powers transferring the Shares to AmeriPath (such certificates, the “Practice Stock Certificates”). 
  
 (b) Subject to the terms and conditions of this Agreement, AmeriPath hereby agrees to deliver to Sellers at Closing Four Million Dollars
($4,000,000), as adjusted pursuant to the terms of this Agreement (the “Initial Purchase Price”). Following the Closing, subject to and in accordance with Section 1.2(a)(iii) and Section 1.2(b), AmeriPath shall deliver to Sellers
the additional purchase price described in such Sections. AmeriPath shall deliver the Initial Purchase Price to the Sellers via wire transfer of immediately available funds to the accounts set forth in Schedule 1.1. The Initial Purchase Price
and the additional purchase price shall be divided among the Sellers equally. 
  
 1.2 Adjustments to Purchase Price. 
  
 (a) Adjustments to Initial Purchase Price. 
  
 (i) Cash on Hand Adjustment. In the event that the cash on hand of the Practice on the Closing Date is less than Seventy Five
Thousand Dollars ($75,000), the aggregate Initial Purchase Price (paid to all Sellers) shall be reduced by the amount by which Seventy Five Thousand Dollars ($75,000) exceeds the actual cash on hand at Closing. 
  
 (ii) Liability Adjustment. Sellers agree to pay to
AmeriPath and its Affiliates (including the Practice) any and all liabilities (the “Retained Liabilities”) incurred by AmeriPath or the Practice relating to time periods prior to the Closing Date, other than trade payables and other
liabilities incurred by the Practice in the ordinary course of business up to Seventy Five Thousand Dollars ($75,000) and the payment obligations of the Practice under that certain Stand-Alone Revolving Note issued by the Practice in favor of
Firstar Bank, N.A. (the “Promissory Note”) up to a maximum of Three Hundred Thousand Dollars ($300,000) (together, the “Assumed Liabilities”). 
  
 (iii) Asset Purchase Closing. AmeriPath shall deliver to Sellers as additional purchase price Four
Hundred Thousand Dollars ($400,000), less the amount of any accrued vacation liabilities assumed by AmeriPath under the Asset Purchase Agreement (the “Laboratory Consideration”) on the date of the Asset Closing (“Asset
Closing Date”); provided, however, in the event that the Asset Closing Date does not occur on or prior to January 31, 2005 as a result of the failure of the conditions to the obligations of Buyer to be satisfied, Buyer shall

  

 3 

 
not be obligated to pay the Laboratory Consideration. The Laboratory Consideration shall be paid via wire transfer of immediately available funds to the
accounts set forth in Schedule 1.1. 
  
 (b) Additional Purchase Price. 
  
 (i) Amount of Additional Purchase Price. In the event that the Practice enters into a contract with SL Eastland and/or St. Luke’s Northlands Hospital, Inc. “SL Northland”) for the provision of professional
pathology services (each, an “Additional Hospital Contract”) and commences providing services under such Additional Hospital Contract before two (2) years following the Closing, the Sellers shall receive as Additional Purchase Price
the amounts specified in this Section 1.2(b). The Additional Purchase Price payable with respect to an Additional Hospital Contract shall be an amount equal to three (3) times the amount of cash collected by the Practice under the Additional
Hospital Contract during the six month period commencing eighteen (18) months after the commencement of services under the Additional Hospital Contract (“Commencement Date”) and ending twenty-four (24) months after the Commencement
Date. 
  
 (ii) Payment of Additional Purchase
Price. In the event that the Practice enters into an Additional Hospital Contract, AmeriPath shall in good faith make an estimate of the projected Additional Purchase Price payable with respect to such Additional Hospital Contract (the
“Estimated Additional PP”). AmeriPath shall pay the Sellers an amount equal to fifty percent of the Estimated Additional PP with respect to the applicable Additional Hospital Contract within sixty (60) days of the applicable
Commencement Date. Within sixty (60) days following the second anniversary of the Commencement Date for an applicable Additional Hospital Contract, AmeriPath shall pay Sellers an amount equal to the actual Additional Purchase Price payable with
respect to such Additional Hospital Contract less the Estimated Additional PP paid with respect to the Additional Hospital Contract; provided, however, that if the Estimated Additional PP exceeds the Additional Purchase Price payable with respect to
the Additional Hospital Contract, the Sellers shall pay AmeriPath the excess of the Estimated Additional PP over the Additional Purchase Price within sixty (60) days following the second anniversary of the applicable Commencement Date. The
Additional Purchase Price shall be shared equally by each of the Sellers. 
  
 (iii) AmeriPath shall make available to Sellers the information relating to the collections of the Practice under the Additional Hospital Contracts. 
  
 (iv) Sellers hereby acknowledge and agree that no Additional Purchase Price shall be payable with respect to
an Additional Hospital Contract unless the Commencement Date with respect to such Additional Hospital Contract occurs within two (2) years of the Closing Date. 
  

1.3 Post-Closing Conversion and Merger. The parties hereto hereby acknowledge and agree that promptly following the Closing, the Practice shall
be converted from a Missouri business corporation to a Missouri professional corporation (the “Conversion”), and promptly 

  

 4 

 
following the Conversion, the Merger shall occur. The parties hereby agree to take such actions as are required to effect the Conversion and the Merger.

  
 ARTICLE II 
  
 REPRESENTATIONS AND WARRANTIES OF THE SELLERS 
  
 Each Seller individually makes the following representations and warranties
to AmeriPath as of the date hereof and the date of the Closing (unless otherwise indicted), each of which shall be deemed material (and AmeriPath, in executing, delivering and consummating this Agreement, has relied upon the correctness and
completeness of each of such representations and warranties notwithstanding independent investigation, if any): 
  
 2.1 Organization, Qualification, etc. The Practice is a corporation duly organized, validly existing and in good standing under the laws of the
State of Missouri. The Practice is duly qualified or licensed to do business in good standing in Missouri. True, complete and correct copies of the articles of incorporation and bylaws, as amended and as presently in effect, for the Practice are
attached hereto as Schedules 2.1-A and 2.1-B. 
  
 2.2
Subsidiaries. Except as set forth on Schedule 2.2, the Practice has no Subsidiaries (as defined in Section 7.3) or has any investment or other equity interest in, or any outstanding loan or advance to or from, any Person,
including any officer, director, shareholder, or Affiliate (as such terms are defined in Section 7.3). 
  
 2.3 Capital Stock. As of the date hereof, the authorized capital stock of the Practice consists of Thirty Thousand (30,000) shares of common stock,
of which Five Hundred (500) shares are issued and outstanding. True, complete and correct stock record books of the Practice have been delivered to AmeriPath for inspection prior to the date hereof and each remains unchanged and true, complete and
correct, and contains all of the transactions in the capital stock of the Practice. The Shares constitute all of the issued and outstanding shares of capital stock of the Practice. 
  
 2.4 Corporate Record Books. The corporate minute books of the Practice that have been made available to AmeriPath,
are true, complete and correct, and contain all of the proceedings of the stockholders and directors of the Practice. 
  
 2.5 Title to Stock. The Shares of the capital stock of the Practice are owned legally, beneficially and of record by the Sellers, are duly
authorized, validly issued and fully paid, nonassessable, and are free of all Liens (as defined in Section 7.3) or any preemptive or similar rights. The Sellers are permitted to own the Shares under applicable law. Upon delivery of the
Initial Purchase Price to the Sellers on the date of the Closing, the Sellers will convey to AmeriPath good and marketable title to the Shares free and clear of all Liens, preemptive rights or other limitations whatsoever, including any claim by any
prior stockholder of the Practice. 
  

 5 

 2.6 Options and Rights. There are no outstanding subscriptions, options, warrants, rights,
securities, contracts, commitments, understandings or arrangements under which the Practice is bound or obligated to issue any additional shares of its capital stock or rights to purchase shares of its capital stock. There are no agreements,
arrangements or understandings between the Seller and the Practice and any other Person regarding the Shares (including the transfer, disposition, holding or voting thereof). 
  
 2.7 Authorization, Etc. The Practice has full corporate power and authority, and the Sellers have full power and
authority, to enter into this Agreement and the other agreements and documents contemplated hereby (including, without limitation, the Termination and Release Agreements, the Merger Agreement and the Employment Agreements) and to perform their
respective obligations hereunder and thereunder. The execution, delivery and performance of this Agreement and all other agreements and transactions contemplated hereby have been duly authorized by the board of directors and stockholders of the
Practice and no other corporate proceedings on the part of the Practice are necessary to authorize, adopt and approve this Agreement or any other document or agreement contemplated hereby, or the transactions contemplated hereby and thereby. No
other actions or proceeding on the part of the Sellers are necessary to authorize, adopt and approve this Agreement or any other document or agreement contemplated hereby, or the transactions contemplated hereby and thereby. The Sellers are
authorized to sell the Shares in accordance with this Agreement. The Sellers are entering into this Agreement (and any other agreement contemplated hereby) on their own volition, free from any undue influence or coercion. The execution, delivery and
performance of this Agreement and all other agreements and transactions contemplated hereby have been duly authorized by the trustees of the Strobach Trust and no other proceedings on the part of the Stobach Trust are necessary to authorize, adopt
and approve this Agreement or any other document or agreement contemplated hereby, or the transactions contemplated hereby and thereby to be executed or performed by the Strobach Trust. Upon execution and delivery of this Agreement (and the other
agreements and documents contemplated hereby) by the parties hereto, this Agreement and all other such agreements shall constitute the legal, valid and binding obligations of the Practice and the Sellers (to the extent each is a party to such other
agreements), enforceable against each such party or parties in accordance with their respective terms, except as such enforceability may be qualified by equitable principles or pursuant to laws affecting the enforceability of creditor’s rights.

  
 2.8 No Violation. The execution and delivery by the
Practice and the Sellers of this Agreement and any and all other agreements contemplated hereby and the fulfillment of and compliance with the respective terms hereof and thereof by the Practice and the Sellers, do not and will not, except as set
forth on Schedule 2.8 attached hereto, (a) conflict with or result in a breach of the terms, conditions or provisions of, (b) constitute a default or event of default under (with due notice, lapse of time or both), (c) result in the creation
of any Lien upon the Shares or any assets of the Practice pursuant to, (d) give any third party the right to accelerate any obligation under, (e) result in a violation of, or (f) require any authorization, consent, approval, exemption or other
action by or notice to any court or Authority or other Person pursuant to, the articles of incorporation or bylaws of the Practice, the trust documents relating to the Strobach Trust or any Regulation, Order or material Contract (as defined in
Section 7.3) to which the Practice or any of the Sellers is subject. Any consents or approvals indicated in Schedule 2.8 

  

 6 

 
have been obtained by the Practice or the Sellers, as the case may be. The Practice and each of the Sellers will comply with all applicable Regulations and
Orders in connection with the execution, delivery and performance of this Agreement and the transactions contemplated hereby. 
  
 2.9 Financial Statements. Attached as Schedule 2.9 hereto are the following financial statements of the Practice prepared in accordance with
GAAP on an accrual basis. (i) balance sheets as of the last day of the fiscal years ended December 31, 2002 and 2003 and a balance sheet as of September 30, 2004 (such date, the “Balance Sheet Date”) (collectively, the
“Balance Sheets”) and (ii) statements of revenues and expenses and related schedules thereto for the fiscal years ended December 31, 2002 and 2003 and for the nine (9) months ended September 30, 2004 (collectively, the
“Statements of Revenues and Expenses” and together with the Balance Sheets, the “Financial Statements”). The Balance Sheets for the Practice have been prepared in a manner consistent with prior practices, are
derived from the books and records of the Practice and fairly present the respective financial position of the Practice at the respective dates thereof, and the Statements of Revenues and Expenses have been prepared on a consistent basis, are
derived from the books and records of the Practice and fairly present the results of operations of the Practice for the periods therein referred to (except as stated therein or in the notes or schedules thereto). Except as set forth on Schedule
2.9(a) attached hereto, the Practice has no liability, whether accrued, absolute or contingent, that is not reflected in the applicable Financial Statements or expressly set forth in this Agreement or in the Schedules attached to this Agreement,
other than (i) liabilities incurred since the Balance Sheet Date in the ordinary course of business and (ii) liabilities covered by insurance or reinsurance (a complete and detailed description of which is provided in Schedule 2.9(b)).

  
 2.10 Accounts Payable; Accounts Receivable. Schedule
2.10(a) sets forth a complete list of the accounts payable and accrued expenses as of the date hereof September 30, 2004. Schedule 2.10(b) sets forth an aging summary of all of the accounts receivable of the Practice as of September 1,
2004 and sets forth the approximate percentage previously collected by the Practice with respect to each time period contained in the aging summary. Sellers shall provide updated Schedules 2.10(a) and 2.10(b) as of the closing Date. The accounts
receivable of the Practice reflected on Schedule 2.10(b) (including as updated) are good and collectible at approximately the same percentage rate as previously collected by the Practice based upon actual prior experience consistent with
prior practice. All such accounts receivable are valid, genuine and subsisting, arose out of the bona fide performance of services or other business transactions and are not subject to defenses, set-offs or counterclaims. Between July 1, 2004 and
the Closing Date Seller has collected its accounts receivables only in the ordinary course of business, consistent with prior practices. 
  
 2.11 Employees. Schedule 2.11 is an accurate list of all officers, directors and key employees (including all of the full-time and part-time
physicians) of the Practice, listing all employment agreements with such officers, directors and key employees and the rate of compensation (and the portions thereof attributable to salary, bonus and other compensation, respectively) of each of such
persons (i) as of the Balance Sheet Date and (ii) as of the date hereof. The Practice has provided to AmeriPath true, complete and correct copies of all employment agreements for persons listed on Schedule 2.11 and the Practice is not in
default under any of such 

  

 7 

 
employment agreements. Except as set forth on Schedule 2.11, no officer or employee of the Practice receives a total annualized salary, bonus and
other compensation from the Practice of $35,000 or more. Since the Balance Sheet Date, there have been no increases in the compensation payable or any special bonuses to any officer, director or employee of the Practice, except ordinary salary
increases implemented on a basis consistent with past practices. As of the date hereof, except as set forth on Schedule 2.11, the Practice has paid all debts owing to its respective employees for services rendered on its behalf. 

 
 The Practice has been at all times, and currently is, in compliance with
all Orders, and is in compliance in all material respects with all federal, state and local Regulations, affecting employment and employment practices of the Practice (including those Regulations promulgated by the Equal Employment Opportunity
Commission), including terms and conditions of employment and wages and hours. Except as set forth on Schedule 2.11, (i) the Practice is not bound by or subject to (and none of its assets or properties is bound by or subject to) any
arrangement with any labor union, (ii) no employees of the Practice are represented by any labor union or covered by any collective bargaining agreement, (iii) no campaign to establish such representation is in progress and (iv) there is no pending
or threatened labor dispute involving the Practice and any group of its respective employees nor has the Practice experienced any labor interruptions over the past three years. The Practice believes its relationship with its employees to be good.

  
 2.12 Absence of Certain Changes. Since the Balance
Sheet Date, except as set forth in Schedule 2.12, there has not been (a) any Material Adverse Change; (b) any damage, destruction or loss, whether covered by insurance or not, having a Material Adverse Effect; (c) any payment by the Practice
to, or any notice to or acknowledgment by the Practice of any amount due or owing to, the Practice’s self-insured carrier, if any, in connection with any self-insured amounts or liabilities under health insurance covering employees of the
Practice, in each case, in excess of a reserve therefor on the Balance Sheets; (d) any declaration, setting aside or payment of any dividend or distribution (whether in cash, stock or property) in respect of the capital stock of the Practice, or any
redemption or other acquisition of such capital stock by the Practice; (e) any increase in the rate of compensation or in the benefits payable or to become payable by the Practice to its respective directors, officers, employees or consultants; (f)
except as expressly contemplated otherwise hereby, any amendment, modification or termination of any existing, or entering into any new, Contract or plan relating to any salary, bonus, insurance, pension, health or other employee welfare or benefit
plan for or with any directors, officers, employees or consultants of the Practice; (g) any entry into any material Contract not in the ordinary course of business, including without limitation relating to any borrowing or capital expenditure; (h)
any disposition by the Practice of any asset having a value in excess of $5,000; (i) any adverse change in the sales patterns, pricing policies, accounts receivable or accounts payable relating to the Practice; (j) any write-down of the value of any
inventory having an aggregate value in excess of $5,000, or write-off, as uncollectible, of any notes, trade accounts or other receivables having an aggregate value in excess of $5,000; or (k) any change by the Practice in accounting methods or
principles. 
  

 8 

 2.13 Contracts. 
  
 (a) Except as set forth in Schedule 2.13(a) hereto, the Practice is not a party to or subject to any
written or oral: 
  
 (i) pension, profit sharing,
bonus, retirement, stock option, stock purchase or other plan providing for deferred or other compensation to employees or any other employee benefit plan (other than as set forth in Schedule 2.19 hereto), or any Contract with any labor
union; 
  
 (ii) employment, consultation or other
compensation Contract (other than as set forth on Schedule 2.11), which is not terminable on notice of 30 days or less by the Practice without penalty or other financial obligation; 
  
 (iii) Contract containing covenants or agreements limiting
the freedom of the Sellers or the Practice or any of its employees to compete in any line of business presently conducted by any of the Sellers or the Practice with any Person or to compete in any such line of business in any area; 
  
 (iv) Contract with any Seller or with any Affiliate or
relative thereof (except for any Contract disclosed in Schedule 2.11); 
  
 (v) Contract relating to or providing for loans to officers, directors, employees or Affiliates of the Practice; 
  
 (vi) Contract under which the Practice has advanced or loaned, or is obligated to advance or loan, funds to any Person; 
  
 (vii) Contract relating to the incurrence, assumption or
guarantee of any indebtedness, obligation or liability (in respect of money or funds borrowed), or otherwise pledging, granting a security interest in or placing a Lien on any asset of the Practice (other than the Promissory Note); 
  
 (viii) guarantee or endorsement of any obligation;

  
 (ix) Contract under which the Practice is
lessee of or holds or operates any property, real or personal, owned by any other party, except for any lease of real or personal property under which the aggregate annual rental payments do not exceed $5,000; 
  
 (x) Contract pursuant to which the Practice is lessor of or
permits any third party to hold or operate any property, real or personal, owned or controlled by the Practice; 
  
 (xi) assignment, license, indemnification or Contract with respect to any intangible property (including, without limitation, any
Proprietary Rights (as defined in Section 7.3 hereto)); 
  

 9 

 (xii) warranty with respect to its services rendered (or to be rendered) or its products
sold or leased; 
  
 (xiii) Contract which
prohibits, restricts or limits in any way the payment of dividends or distributions by the Practice; 
  
 (xiv) Contract under which it has granted any Person any registration rights (including piggyback rights) or other with respect to any
securities; 
  
 (xv) Contract for the purchase,
acquisition or supply of inventory or other property or assets, whether for resale or otherwise (other than for ordinary course agreements for consideration not exceeding $5,000); 
  
 (xvi) Contracts with independent agents, brokers, dealers or distributors; 
  
 (xvii) sales, commissions, advertising or marketing
Contracts; 
  
 (xviii) Contracts with Persons
with which, directly or indirectly, any Seller also has a Contract; 
  
 (xix) Contract with any hospital, physician or other health care provider or facility, or other Contract with any Person relating to professional services (including without limitation, any Contract pursuant to which
the cost of providing health care services to the patients covered by such Contract is assumed in whole or in part by the Sellers or the Practice or such provider); or 
  
 (xx) any other Contract which is material to the operations or business prospects of the Practice, which
involves aggregate payments by or to the Practice of $5,000 or more. 
  
 (b) Except as set forth on Schedule 2.8, no consent of any party to any Contract is required in connection with the execution, delivery or performance of this Agreement, or the consummation of the transactions
contemplated hereby. 
  
 (c) The Practice has
performed in all material respects all obligations required to be performed by it and is not in default in any respect under or in breach of nor in receipt of any claim of default or breach under any material Contract required to be listed on
Schedule 2.13(a) or any other Schedule to this Agreement; no event has occurred which, with the passage of time or the giving of notice or both, would result in a default, breach or event of non-compliance under any material Contract to which
the Practice is subject (including without limitation all performance bonds, warranty obligations or otherwise); neither the Sellers nor the Practice has any present expectation or intention of not fully performing all such obligations; neither the
Sellers or the Practice has any knowledge of any breach or anticipated breach by the other parties to any such Contract to which the Practice is a party. 
  

 10 

 2.14 True and Complete Copies. Copies of all Contracts and documents delivered and to be delivered
hereunder by the Sellers or the Practice are true and complete copies of such agreements, contracts and documents as in effect on the date hereof. 
  
 2.15 Title and Related Matters. 
  
 (a) The Practice has good and marketable title to all of its properties and assets reflected on the Balance Sheets or acquired after the
dates thereof, except for properties sold or otherwise disposed of since the dates thereof in the ordinary course of business, free and clear of all Liens, except (i) statutory Liens not yet delinquent, (ii) such Liens as do not detract from or
interfere with the present use of the properties or assets subject thereto or affected thereby, otherwise impair present business operations at such properties; or do not detract from the value of such properties and assets, taken as a whole, or
(iii) as reflected in the Balance Sheets. 
  
 (b)
The Practice owns good and marketable title to all the personal property and assets, tangible or intangible, used in its business except as to those assets leased, all of which are leased under valid leases. The Practice is not in default under any
such lease and to the best knowledge of each of the Sellers, no other party is in default under any of such leases. None of the assets belonging to or held by the Practice are subject to any (i) Contracts of sale (other than this Agreement) or lease
(with the Practice as lessor), or (ii) Liens. Except for normal breakdowns and servicing requirements, all machinery and equipment regularly used by the Practice in the conduct of its respective business is in good operating condition and repair,
ordinary wear and tear excepted. 
  
 (c) There
has not been, since the Balance Sheet Date, any sale, lease, transfer, assignment, pledge or any other disposition or distribution by the Practice of any of its assets or properties, except transactions in the ordinary and regular course of business
or as otherwise consented to in writing by AmeriPath. As of the Closing Date and immediately after the date of the Closing, the Practice will own, or have the unrestricted right to use, all properties and assets that are currently used in connection
with the business of the Practice (the “Business”). 
  
 (d) Schedule 2.15 attached hereto sets forth a description of all real and personal property owned or leased by the Practice. 
  
 2.16 Litigation. Except as set forth on Schedule 2.16, there is no Claim (as defined in Section 7.3)
pending or threatened against any of the Sellers or the Practice. There is no Order outstanding against any of the Sellers or the Practice resulting in, or which, insofar as can reasonably be foreseen in the future, may result in a Material Adverse
Change. 
  
 2.17 Tax Matters. 
  
 For purposes of this Section 2.17, “Practice” shall include
St. Luke’s Pathology Associates, Inc. and all predecessors and successors thereof. 
  

 11 

 (a) The Practice has timely filed with the appropriate Tax authorities all Tax Returns in
all jurisdictions in which Tax Returns are required to be filed through the date hereof or appropriate extensions therefore have been appropriately obtained and have not expired, and such Tax Returns are correct and complete. All Taxes of the
Practice (whether or not shown on any Tax Return) that have become due have been fully and timely paid. There are no Liens for any Taxes (other than a Lien for current real property or ad valorem Taxes not yet due and payable) on any of the assets
of the Practice. No claim has ever been made by an authority in a jurisdiction where the Practice does not file a Tax Return that such entity may be subject to Taxes by that jurisdiction. 
  
 (b) The Practice (i) has not received any notice of
assessment or proposed assessment in connection with any Taxes, and there are no threatened or pending, disputes, claims, audits or examinations regarding any Taxes of the Practice or its assets; and (ii) the Practice has not waived any statute of
limitations in respect of any Taxes or agreed to a Tax assessment or deficiency. 
  
 (c) The Practice has complied in all material respects with all applicable laws, rules and regulations relating to the withholding of
Taxes and the payment thereof to appropriate authorities, including Taxes required to have been withheld and paid in connection with amounts paid or owing to any employee or independent contractor, and Taxes required to be withheld and paid pursuant
to Sections 1441 and 1442 of the Internal Revenue Code or similar provisions under foreign Law. 
  
 (d) The Practice is not a party to any Tax allocation or sharing agreement and the Practice has not been a member of an affiliated group
filing a consolidated federal income Tax Return and has no Tax Liability of any person under Treasury Regulation Section 1.1502-6 or any similar provision of state, local or foreign Law, or as a transferee or successor, by contract or otherwise.

  
 (e) During the five-year period ending on the
date hereof, the Practice was not a distributing corporation or a controlled corporation in a transaction intended to be governed by Section 355 of the Internal Revenue Code. 
  
 (f) The Practice has not made any payments, is not obligated to make any payments, and is not a party to any
contract that could obligate it to make any payments that could be disallowed as a deduction under Section 280G or 162(m) of the Internal Revenue Code. The Practice has not been a United States real property holding corporation within the meaning of
Internal Revenue Code Section 897(c)(1)(A)(ii). The Practice has not been and will not be required to include any adjustment in taxable income for any Tax period (or portion thereof) pursuant to Section 481 of the Internal Revenue Code or any
comparable provision under state or foreign Tax laws or regulations as a result of transactions or events occurring prior to the date of the Closing. 
  
 2.18 Compliance with Law and Applicable Government and other Regulations. The Practice’s operations, equipment, practices, real property,
plants, laboratories, structures, and 

  

 12 

 
other property, and all other aspects of its business and operations, has at all times complied with all applicable Regulations and Orders, including, but
not limited to, Health Care Laws (as defined in Section 7.3), all Regulations relating to the safe conduct of business, environmental protection, quality and labeling, antitrust, Taxes, consumer protection, privacy, patient confidentiality,
equal opportunity, discrimination, health, sanitation, fire, zoning, building and occupational safety, except for any failure or failures to so comply that would not individually or in the aggregate have a Material Adverse Effect. There are no
Claims pending, nor are there any Claims threatened, nor has any Seller or the Practice received any written notice, regarding any violations of any Regulations and Orders enforced by any Authority claiming jurisdiction over the Practice, including
any requirement of the US Occupational Safety and Health Administration or any pollution and environmental control agency (including air and water). 
  
 (a) Schedule 2.18(a) attached hereto sets forth all permits, licenses, provider numbers, orders, franchises, registrations and
approvals (collectively, “Permits”) from all federal, state, local and foreign governmental regulatory bodies held by each of the Practice and its respective employees and independent contractors. The Permits listed on Schedule
2.18(a) are the only Permits that are required for the Practice to conduct its business as presently conducted, except for those the absence of which would not have any Material Adverse Effect. Each such Permit is in full force and effect and no
suspension or cancellation of any such Permit is threatened and there is no basis for believing that such Permit will not be renewable upon expiration. 
  
 (b) The Practice and its employees and independent contractors have licenses to provide health care services in the jurisdictions set
forth in (or in the Permits set forth in) Schedule 2.18(b) hereto, which licenses are all those necessary to conduct the business of the Practice in the jurisdictions in which the Practice presently operates. Schedule 2.18(b) also sets
forth a true and complete description of the status of each such license. Except as set forth on Schedule 2.18(b), there is no event, transaction, correspondence or circumstance which would have, or could foreseeably have, a material adverse
effect on one or more of such licenses. 
  
 2.19 ERISA and
Related Matters. 
  
 (a) Benefit Plans;
Obligations to Employees. Except as set forth in Schedule 2.19 hereto, neither the Practice nor any ERISA Affiliate (as defined below) of the Practice, is a party to or participates in or has any liability or contingent liability with
respect to: 
  
 (i) any “employee welfare
benefit plan” or “employee pension benefit plan” or “multi-employer plan” (as those terms are respectively defined in Sections 3(1), 3(2) and 3(37) of the Employee Retirement Security Act of 1974, as amended
(“ERISA”)); 
  
 (ii) any retirement or
deferred compensation plan, incentive compensation plan, stock plan, unemployment compensation plan, vacation pay, severance pay, bonus or benefit arrangement, insurance or hospitalization program or any other fringe benefit arrangements for any
employee, director, consultant or agent, whether pursuant to contract, arrangement, custom or informal 

  

 13 

 
understanding, which does not constitute an “employee benefit plan” (as defined in Section 3(3) of ERISA); or 
  
 (iii) any employment agreements not terminable on 30 days or
less written notice, without further liability. 
  
 Any plan, arrangement or agreement required to be listed on Schedule 2.19 for which the Practice or any ERISA Affiliate of the Practice may have any liability or contingent liability is sometimes hereinafter referred to as a
“Benefit Plan”. For purposes of this Section, the term “ERISA Affiliate” shall mean any trade or business, whether or not incorporated, that together with the Practice would be deemed a “single
employer” within the meaning of Section 4001(b)(i) of ERISA. 
  
 (b) Plan Documents and Reports. A true and correct copy of each of the Benefit Plans listed on Schedule 2.19, and all contracts relating thereto, or to the funding thereof, including, without limitation,
all trust agreements, insurance contracts, investment management agreements, subscription and participation agreements and record keeping agreements, each as in effect on the date hereof, has been supplied to AmeriPath. In the case of any Benefit
Plan that is not in written form, AmeriPath has been supplied with an accurate description of such Benefit Plan as in effect on the date hereof. A true and correct copy of the three most recent annual reports and accompanying schedules, the three
most recent actuarial reports, and the most recent summary plan description and Internal Revenue Service determination letter with respect to each such Benefit Plan, to the extent applicable, and a current schedule of assets (and the fair market
value thereof assuming liquidation of any asset which is not readily tradable) held with respect to any funded Benefit Plan has been supplied to AmeriPath by the Practice, and there have been no material changes in the financial condition in the
respective Plans from that stated in the annual reports and actuarial reports supplied. 
  
 (c) Compliance with Laws; Liabilities. As to all Benefit Plans, except as otherwise specified on Schedule 2.19, the Practice
is in compliance in all material respects with the terms of all Benefit Plans and every Benefit Plan is in compliance with all of the requirements and provisions of ERISA and all other laws and regulations applicable thereto, including without
limitation the timely filing of all annual reports or other filings required with respect to such Benefit Plans. None of the assets of any Benefit Plan are invested in employer securities or employer real property, as those terms are defined in
Section 407(d) of ERISA. There have been no “prohibited transactions” (as described in Section 406 of ERISA or Section 4975 of the Code) with respect to any Benefit Plan and neither the Practice nor any ERISA Affiliate thereof has
otherwise engaged in any prohibited transaction. There has been no “accumulated funding deficiency” as defined in Section 302 of ERISA, nor has any reportable event as defined in Section 4043(b) of ERISA occurred with respect to any
Benefit Plan. Actuarially adequate accruals for all obligations or contingent obligations under the Benefit Plans are reflected in Balance Sheets and such obligations include a pro rata amount of the contributions which would otherwise have been
made in accordance with past practices for the plan years which include the Closing Date. 
  

 14 

 2.20 Intellectual Property. 
  
 (a) Except as set forth on Schedule 2.20, neither the Sellers nor the Practice have any service mark,
trademark, domain name, patent or registered copyright related to the Business, nor does any Seller or the Practice have any pending applications with respect to any Proprietary Rights. 
  
 (b) The Practice has the right to use each Proprietary Right used in connection with the operation of its
business, including those listed in Schedule 2.20, and except as otherwise set forth therein, each of such Proprietary Rights is, and will be on the Closing Date, free and clear of all royalty obligations and Liens. There are no Claims
pending or threatened, against any of the Sellers or the Practice that its use of any of the Proprietary Rights listed on Schedule 2.20 infringes the rights of any Person. Neither the Sellers nor the Practice has any knowledge of any
conflicting use of any of such Proprietary Rights. 
  
 (c) The Practice is not a party in any capacity to any franchise, license or royalty agreement respecting any Proprietary Right and there is no conflict with the rights of others in respect to any Proprietary Right now used in the conduct
of its business. 
  
 (d) Computer Systems and
Software. 
  
 (i) Software. The
software applications currently used by the Practice in the operation of its business (the “Software”) are set forth and described on Schedule 2.20(d) hereto. Except as disclosed on Schedule 2.20(d), none of the Software has
been designed or developed (1) by any of the Sellers or the Practice or (2) on behalf of the Practice or the Sellers by any employee of or consultant to the Practice. The Practice has not licensed, distributed or in any other way disposed of or
encumbered the Software. All Software is licensed from a third party licensor or constitutes “off-the-shelf” software and the Practice licenses all Software used by it in its business pursuant to valid licenses, each of which is in full
force and effect on the date hereof. The Practice is not in violation of or in default under any of such licenses. All of the computer hardware owned or leased by the Practice has licensed software installed therein and such software is used in
compliance with the applicable licenses. 
  
 (ii)
No Errors; Nonconformity. The Software is free from any significant software defect or programming or documentation error, operates and runs in a reasonable and efficient business manner and conforms to the specifications thereof. 

 
 2.21 Environmental Matters. Except as disclosed in Schedule
2.21: (a) the Practice’s business does not violate any applicable Environmental Law (as defined in Section 7.3) and no condition or occurrence of any accident, happening or event has occurred which may result in a Claim against the
Practice or AmeriPath or which may create a liability or loss for the Practice or AmeriPath or which, with notice or the passage of time or both, would constitute a violation of any Environmental Law; (b) the Practice is in possession of all
Environmental Permits (as 

  

 15 

 
defined in Section 7.3) required under any applicable Environmental Law for the conduct or operation of its business (or any part thereof), and the
Practice is in full compliance with all of the requirements and limitations included in such Environmental Permits; (c) the Practice has stored or used any pollutants, contaminants or hazardous or toxic wastes, substances or materials on or at any
property or facility now or previously owned, leased or operated by it except for inventories of chemicals which are used or to be used in the ordinary course of its business (which inventories have been sorted or used in accordance with all
applicable Environmental Permits and all Environmental Laws, including all so-called “Right to Know” laws); (d) the Practice has not received any notice from any Authority or any private Person that its business or the operation of any of
its facilities is in violation of any Environmental Law or any Environmental Permit or that it is responsible (or potentially responsible) for the cleanup of any pollutants, contaminants, or hazardous or toxic wastes, substances or materials at, on
or beneath any property or facility now or previously owned, leased or operated by it, or at, on or beneath any land adjacent thereto or in connection with any waste or contamination site; (e) the Practice is not the subject of any federal, state,
local, or private Claim involving a demand for damages or other potential liability with respect to a violation of Environmental Laws or under any common law theories relating to operations or the condition of any facilities or property (including
underlying groundwater) owned, leased, or operated by it; (f) the Practice has not buried, dumped, disposed, spilled or released any pollutants, contaminants or hazardous or toxic wastes, substances or materials on, beneath or adjacent to any
property or facility now or previously owned, leased or operated by it or any property adjacent thereto; (g) no by-products of any process employed in the operation of the business of the Practice which may constitute pollutants, contaminants or
hazardous or toxic wastes, substances or materials under any Environmental Law are currently stored or were stored by the Practice, or have been released or discharged by the Practice on any property or facility now or previously owned, leased or
operated by the Practice or any property adjacent thereto, except for inventories of chemicals which are used or will be used in the ordinary course of its business (which inventories of chemicals have been sorted, used, handled and disposed of in
compliance with all applicable Environmental Permits and all Environmental Laws, including all so-called “right to know” laws; (h) no property or facility now or previously owned, leased or operated by the Practice, is listed or proposed
for listing on the National Priorities List pursuant to CERCLA, on the CERCLIS or on any other federal or state list of sites requiring investigation or clean-up; (i) there are no underground storage tanks, active or abandoned, including petroleum
storage tanks, on or under any property or facility now or previously owned, leased or operated by the Practice; (j) the Practice has not directly transported or directly arranged for the transportation of any Hazardous Material to any location
which is listed or proposed for listing on the National Priorities List pursuant to CERCLA, on the CERCLIS or on any federal or state list or which is the subject of federal, state or local enforcement actions or other investigations which may lead
to material Claims against the Practice for any remedial work, damage to natural resources or personal injury, including Claims under CERCLA; and (k) there are no polychlorinated biphenyls, radioactive materials or friable asbestos present at any
property or facility now or previously owned or leased by the Practice. The Practice has timely filed all reports required to be filed with respect to all of its property and facilities and has generated and maintained all required data,
documentation and records under all applicable Environmental Laws. 
  

 16 

 2.22 Dealings with Affiliates. Schedule 2.22 hereto sets forth a complete list, including
the parties, of all Contracts to which the Practice is or has been a party for the previous five (5) years (or at any time if such Contract is still in effect or could result in any liability to the Practice in accordance with its terms) and to
which any Seller, any relative or Affiliates of any Seller or any Affiliates of the Practice is also a party. 
  
 2.23 Banking Arrangements. Schedule 2.23 attached hereto sets forth the name of each bank or other institution in or with which the Practice
has an account, credit line or safety deposit box, and a brief description of each such account, credit line or safety deposit box, including the names of all Persons currently authorized to draw thereon or having access thereto. The Practice has no
liability or obligation relating to funds or money borrowed by or loaned to the Practice (whether under any credit facility, line of credit, loan, indenture, advance, pledge or otherwise), other than the Promissory Note. 
  
 2.24 Insurance. Schedule 2.24 attached hereto sets forth a list
and brief description, including dollar amounts of coverage, of all policies of property, fire, liability, business interruption, workers’ compensation, and other forms of insurance held by the Practice as of the date hereof, as well as a
schedule of Claims filed with the current insurance carrier, including a history of such Claims and a description and estimated dollar amount of any unresolved Claims. Such policies are valid, outstanding and enforceable policies, and all premiums
thereunder have been timely paid. No Seller knows of any state of facts, or of the occurrence of any event which might reasonably (a) form the basis for any Claim against the Practice not fully covered by insurance for liability on account of any
express or implied warranty or tortuous omission or commission, or (b) result in material increase in insurance premiums of the Practice. 
  
 2.25 Consents. Schedule 2.25, attached hereto, sets forth a complete list of consents of governmental and other regulatory agencies or
authorities, foreign or domestic, required to be received by or on the part of the Sellers or the Practice to enable the Sellers or the Practice to enter into and carry out this Agreement or any other agreement or document contemplated hereby in all
material respects. All such requisite consents have been obtained. 
  
 2.26 Inventories. The inventories, if any, reflected on the Balance Sheets and the inventories held by the Practice on the date hereof (i) do not include any items which are not usable or salable and (ii) have been reflected on such
Balance Sheets at the lower of cost or market value (taking into account the usability or salability thereof). Except as set forth in Schedule 2.26 attached hereto, all of such inventories are owned free and clear and are not subject to any
Lien and such inventories and supplies have been purchased by the Practice in the ordinary course of business, consistent with anticipated seasonal requirements, and the volumes of purchases thereof and orders therefore have not been reduced or
otherwise changed in anticipation of the transactions contemplated by this Agreement. 
  
 2.27 Brokerage. Neither the Sellers or the Practice has employed any broker, finder, advisor, consultant or other intermediary in connection with this Agreement or the transactions contemplated by this
Agreement who is or might be entitled to any fee, commission or other compensation from the Seller or the Practice or from AmeriPath or its Affiliates, upon or as a 

  

 17 

 
result of the execution of this Agreement or the consummation of the transactions contemplated hereby. 
  
 2.28 Certain Payments. Except as set forth on Schedule 2.28
hereto, (a) none of (i) the Practice or any director, officer, employee, agent or representative thereof or (ii) any Person acting on behalf of any of them, has made, paid or received any unlawful bribes, kickbacks or other similar payments to or
from any Person or Authority, (b) no contributions have been made by or on behalf of the Practice, directly or indirectly, to a domestic or foreign political party or candidate, (c) no Improper Foreign Payment (as defined in the Foreign Corrupt
Practices Act) has been made, and (d) the internal accounting controls of the Practice are believed by its management to be adequate to detect any of the foregoing under current circumstances. 
  
 2.29 Participation in Audits. Except as set forth in Schedule
2.29, the Practice has not been informed of any Recoupment Claims (as hereinafter defined) arising in connection with audits or reviews conducted by Medicaid, Medicare or private insurance companies. There is no basis for any Recoupment Claims
based upon cost reports, claims or bills submitted or to be submitted in connection with services rendered by the Practice. For purposes of this Section 2.29 the term “Recoupment Claim” shall mean any recoupment or
overpayment, set-off, penalty or fine pending or threatened by any third-party payor or governmental authority having jurisdiction over the Practice for amounts arising from or related to payments to the Practice for services rendered prior to the
Closing Date. 
  
 2.30 Health Care Laws & Regulations.

  
 (a) Fraud and Abuse. Except as set
forth on Schedule 2.30(a), the Practice or any of their respective officers, directors, employees, shareholders and providers, have not engaged in any activities which are prohibited under federal health care fraud and abuse statutes,
including 42 U.S.C. Sections 1320a-7, 1320a-7a and 7b, 18 U.S.C. Sections 1035 and 1347, and 31 U.S.C. Section 3729, or the regulations promulgated pursuant to such statutes or related state or local statutes or regulations or which are prohibited
by rules of professional conduct or which otherwise could constitute fraud, including but not limited to the following: (i) making or causing to be made a false statement or representation of a material fact in any application for any benefit or
payment; (ii) making or causing to be made any false statement or representation of a material fact for use in determining rights to any benefit or payment; (iii) failing to disclose knowledge by a claimant of the occurrence of any event affecting
the initial or continued right to any benefit or payment on its behalf or on behalf of another, with intent to secure such benefit or payment fraudulently; and (iv) soliciting, paying or receiving any remuneration (including any kickback, bribe, or
rebate), directly or indirectly, overtly or covertly, in cash or in kind or offering to pay such remuneration (a) in return for referring an individual to a Person for the furnishing or arranging for the furnishing of any item or service for which
payment may be made in whole or in part by Federal Health Care Programs (as defined in 42 U.S.C. Section 1320a-7b(f), or (b) in return for purchasing, leasing, or ordering or arranging for or recommending purchasing, leasing, or ordering any good,
facility, service, or item for which payment may be made in whole or in part by Federal Health Care Programs. 
  

 18 

 (b) Third-Party Payors. All Contracts with third-party payors were entered into by
the Practice in the ordinary course of business. The Practice has made available to AmeriPath prior to the Closing Date, an accurate and complete list of all third-party payors who have Contracts with the Practice (as set forth on Schedule
2.30(b)), together with accurate and complete copies of all such Contracts. Except as set forth on Schedule 2.30(b), the Practice is in compliance in all material respects with each third-party payor’s Contract, and the Practice has
properly charged and billed in accordance with the terms of those Contracts, including, where applicable, billing and collection of all deductibles and co-payments. 
  
 (c) Compliance with Medicare and Medicaid Programs. The Practice has timely and accurately filed all
requisite claims and other reports required to be filed in connection with all state and Federal Health Care Programs in which the Practice participates due on or before the Closing Date except to the extent that the failure to file such claims and
reports would not result in a Material Adverse Effect. Except as set forth on Schedule 2.30(c) hereto, there are no Claims pending or scheduled or threatened before any Authority, including without limitation, any intermediary, carrier, the
Administrator of the Health Care Financing Administration, the Agency for Health Care Administration or any other state or federal agency with respect to any Federal Health Care Program claim filed by the Practice on or before the Closing Date, or
program compliance matters, which would have a Material Adverse Effect. The Practice has delivered to AmeriPath accurate and complete copies of any Claims, actions or appeals listed on Schedule 2.30(c). Except for routinely scheduled reviews
pursuant to the Medicare and Medicaid Contracts of the Practice, no review or program integrity review related to the Practice has been conducted by any Authority in connection with the Medicare or Medicaid programs and no such review is pending or
scheduled or threatened, against or affecting the Practice, or its business, its assets, or the consummation of the transactions contemplated hereby. 
  
 (d) Rate Limitations and Rates. The Practice charges rates for services and such rates are legal. Schedule 2.30(d) sets
forth the rates the Practice charges (other than for services reimbursed under the Medicare or Medicaid fee schedules). 
  
 (e) Reimbursement Documentation. The Practice has filed when due any and all cost reports and other documentation and reports, if
any, required to be filed by third-party payors and governmental agencies in compliance with applicable contractual provisions and/or laws, regulations and rules. 
  
 (f) Patient Referrals. No Person having a “financial relationship” with the Practice, as
that term is defined in 42 U.S.C. Section 1395nn, is in a position, directly or indirectly, to refer patients or services to the Practice, other than referrals which comply with (or are exempt from) the requirements of 42 U.S.C. Section 1395nn and
the regulations promulgated pursuant thereto. 
  
 2.31
Financial Condition at Closing. There are no liabilities of the Practice that relate to time periods prior to the date of the Closing, other than the Assumed Liabilities. All of the outstanding accounts receivable of the Practice as of the
date of the Closing arose out of bona fide transactions conducted by the Practice. At and as of the date of the Closing, the Practice shall have Seventy Five Thousand Dollars ($75,000) in cash on hand. 
  

 19 

 2.32 Disclosure. Neither this Agreement nor any of the exhibits, attachments, written statements,
documents, certificates or other items prepared for or supplied to AmeriPath by or on behalf of any of the Sellers or the Practice with respect to the transactions contemplated hereby contains any untrue statement of a material fact or omits a
material fact necessary to make each statement contained herein or therein not misleading. 
  
 2.33 Promissory Note. (a) a true and complete copy of the Promissory Note, including any amendments and assignments thereto, is attached hereto as Schedule 2.33, (b) the Promissory Note represents the
complete understanding of the parties with respect to the matters set forth therein, (c) the Promissory Note is in full force and effect and there are no breaches or events of default thereunder, regardless of whether any such breach or default has
been waived or formally declared and (d) the remaining amount of principal due on the Promissory Note is Three Hundred Thousand Dollars ($300,000) and there is no outstanding interest as of the date hereof. 
  
 ARTICLE III 
  
 REPRESENTATIONS AND WARRANTIES OF AMERIPATH 
  
 AmeriPath represents and warrants to the Sellers as of the date hereof and
the Closing Date (unless otherwise indicted) as follows, each of which shall be deemed material (and the Sellers, in executing, delivering and consummating this Agreement, has relied upon the correctness and completeness of each of such
representations and warranties notwithstanding independent investigation, if any): 
  
 3.1 Corporate Organization, etc. AmeriPath is a corporation duly organized, validly existing and in good standing under the laws of its jurisdiction of incorporation with full corporate power and authority to
carry on its business as it is now being conducted and to own, operate and lease its properties and assets. AmeriPath is duly qualified or licensed to do business in good standing in every jurisdiction in which the conduct of its business, the
ownership or lease of its properties, or the transactions contemplated by this Agreement, require it to be so qualified or licensed, except where the failure to be so qualified or licensed would not be reasonably likely to result in a Material
Adverse Change. 
  
 3.2 Authorization, Etc. AmeriPath (or
any Affiliate thereof, as the case may be) has full corporate power and authority to enter into this Agreement and the other agreements and documents contemplated hereby and to perform its obligations hereunder and thereunder. AmeriPath has duly
authorized the execution, delivery and performance of this Agreement and the other agreements and transactions contemplated hereby, and no other corporate proceedings on the part of AmeriPath (or any Affiliate thereof, as the case may be) are
necessary to authorize this Agreement and such other agreements, and the transactions contemplated hereby and thereby. Upon execution and delivery of this Agreement by the parties hereto this Agreement shall constitute the legal, valid and binding
obligation of AmeriPath (and any Affiliate thereof, as the case may be), enforceable against AmeriPath (or any Affiliate thereof, as the case may be) in accordance with their respective terms, except as such enforceability may be qualified by
equitable principles or pursuant to laws affecting the enforceability of creditor’s rights. 
  

 20 

 3.3 No Violation. The execution, delivery and performance by AmeriPath (and any Affiliate thereof,
as the case may be) of this Agreement, and all other agreements contemplated hereby, and the fulfillment of and compliance with the respective terms hereof and thereof by AmeriPath (and any Affiliate thereof, as the case may be), do not and will not
(a) conflict with or result in a material breach of the terms, conditions or provisions of, (b) result in a violation of, or (c) require any authorization, consent, approval, exemption or other action by or notice to any Authority or other Person
(other than such consents and other requirements that have been or will be obtained), pursuant to, the certificate of incorporation or bylaws of AmeriPath (or any Affiliate thereof, as the case may be), or any Regulation to which AmeriPath (or any
Affiliate thereof, as the case may be) is subject, or any material Contract or Order to which AmeriPath (or any Affiliate thereof, as the case may be) or their respective properties are subject. AmeriPath (or any Affiliate thereof, as the case may
be) will comply with all applicable Regulations and Orders in connection with their respective execution, delivery and performance of this Agreement and all other agreements contemplated hereby and the transactions contemplated hereby. 

 
 3.4 Governmental Authorities. AmeriPath (and any Affiliate thereof,
as the case may be) has complied or will comply in all material respects with all applicable Regulations applicable to AmeriPath (or any Affiliate thereof, as the case may be) in connection with their respective execution, delivery and performance
of this Agreement and the agreements and transactions contemplated hereby. AmeriPath (or any Affiliate thereof, as the case may be) has obtained or will obtain any authorization, consent, approval, exemption or notice that is required to be obtained
by AmeriPath (or any Affiliate thereof, as the case may be) in connection with the execution, delivery, and performance of this Agreement and the agreements and transactions contemplated hereby except for any which if not obtained would not have a
Material Adverse Effect on AmeriPath or the transactions contemplated hereunder. 
  
 ARTICLE IV 
  
 OTHER
AGREEMENTS 
  
 The parties hereto further agree as
follows: 
  
 4.1 Further Assurances. 
  
 (a) Subject to the terms and conditions of this Agreement
and compliance with applicable Regulations, each of the parties hereto shall use commercially reasonable efforts to take, or cause to be taken, all action, and to do, or cause to be done, all things necessary, proper or advisable under applicable
Regulations to consummate and make effective the transactions contemplated by this Agreement. If at any time after the date of the Closing AmeriPath determines that any further actions are necessary, desirable or proper to further evidence any
transaction or covenant hereunder, including, without limitation, to vest, perfect or confirm, of record or otherwise in AmeriPath, title to the Shares, each Seller agrees that, at AmeriPath’s expense, the Sellers shall take such actions as are
necessary, desirable or proper to do so. 
  

 21 

 (b) After the date of the Closing, AmeriPath agrees (i) to cooperate with the Sellers and
its representatives in connection with the preparation of any Tax Return or any governmental examination of any Tax Return relating to the Business for periods prior to the Closing Date and (ii) within reason, to make available to the Sellers and
their representatives, at the Sellers’ expense, all financial data and other information of the Business relating to periods prior to the Closing Date upon reasonable request to permit the Sellers to prepare any Tax Returns and in connection
with any governmental examination of Tax Returns relating to the Business for periods prior to the Closing Date. In addition, AmeriPath shall promptly deliver to the Sellers copies of any notices it receives from any Taxing Authority with respect to
the Business for periods prior to the Closing Date. 
  
 4.2
Agreement to Defend. In the event any action, suit, proceeding or investigation of the nature challenging the consummation or effectiveness of the transactions contemplated hereunder is commenced all the parties hereto agree to cooperate and
use commercially reasonable efforts to defend against and respond thereto. 
  
 4.3 Notices. With respect to every material Contract of the Practice for which a consent or approval is not required under the terms of such Contract upon the execution and delivery of this Agreement or any
other agreement or document contemplated hereby, or the consummation of the transactions contemplated hereby or thereby, each party to each such Contract shall, after consultation with and coordination by AmeriPath, be advised of the transaction
contemplated hereby. 
  
 4.4 No Termination of Seller’s
Obligations by Subsequent Incapacity, Etc. The Sellers specifically agree that the obligations of the Sellers hereunder, including, without limitation, obligations pursuant to Article VI and Section 1.2 shall not be terminated by
the death or incapacity of any of the Sellers. 
  
 4.5 Public
Announcements. No party or any of its respective Affiliates, representatives, agents or employees, shall disclose any of the terms of this Agreement to any third party (other than AmeriPath’s advisors and senior lending group and the
Sellers’ advisors) without AmeriPath’s prior written consent unless required by any applicable law or Order. The form, content and timing of any and all press releases, public announcements or publicity statements prior to the date of the
Closing with respect to this Agreement or the transactions contemplated hereby shall be subject to the prior written approval of AmeriPath. 
  
 4.6 Non-disclosure; Confidentiality. 
  
 (a) Confidential Information. By virtue of the Sellers’ association or involvement with AmeriPath or any AmeriPath Subsidiary
or Affiliate (each an “AmeriPath Entity”), the Sellers will obtain and have access to confidential or proprietary information of such AmeriPath Entity. “Confidential Information” means all proprietary or business sensitive
information, whether in oral, written, graphic, machine-readable or tangible form, and whether or not registered, and including all notes, plans, records, documents and other evidence thereof, including but not limited to all: patents, patent
applications, copyrights, trademarks, trade names, service marks, service names, “know-how,” patient lists, details of client or consulting contracts, 

  

 22 

 
pricing policies, operational methods, marketing plans or strategies, product development techniques or plans, procurement and sales activities, promotion
and pricing techniques, credit and financial data concerning customers, business acquisition plans or any portion or phase of any scientific or technical information, discoveries, computer software or programs used or developed in whole or in part
by any AmeriPath Entity (including source or object codes), processes, procedures, formulas or improvements of any AmeriPath Entity; algorithms; computer processing systems and techniques; price lists; customer lists; procedures; improvements,
concepts and ideas; business plans and proposals; technical plans and proposals; research and development; budgets and projections; technical memoranda, research reports, designs and specifications; new product and service developments; comparative
analyses of competitive products, services and operating procedures; and other information, data and documents now existing or later acquired by an AmeriPath Entity, regardless of whether any of such information, data or documents qualify as a
“trade secret” under applicable federal or state law. “Confidential Information” shall not include any information that is in the public domain during the period of such association or involvement by any of the Sellers or becomes
public thereafter, provided such information is not in the public domain as a consequence of disclosure by any of the Sellers in violation of this Agreement. This definition shall not limit any definition or protection of “trade secrets”
or any equivalent term under the Uniform Trade Secrets Act or any other state, local or federal law. 
  
 (b) Non-Disclosure. Each Seller agrees that, during the Restricted Period (as defined in Section 4.8(c)), except as directed
by AmeriPath or as required or otherwise contemplated under this Agreement or as otherwise required by law, the Sellers will not, except as may be expressly authorized by AmeriPath in writing, disclose to any Person or use any Confidential
Information whatsoever for any purpose whatsoever, or permit any Person whatsoever to examine and/or make copies of any reports or any documents or software or other Confidential Information (whether in written form or stored on magnetic, optical or
other mass storage media) prepared by any of the Sellers, or that comes into the possession or under the control of any of the Sellers by reason of such Seller’s association with an AmeriPath Entity or by reason of any consulting or software
development services such Seller has performed or may in the future perform for an AmeriPath Entity which contain or are derived from Confidential Information. 
  

(c) AmeriPath Group Property. As used in this Agreement, the term “AmeriPath Group Property” means all
documents, papers, computer printouts and disks, records, customer or patient lists, files, manuals, supplies, computer hardware and software, equipment, inventory and other materials that have been created, used or obtained by any AmeriPath Entity,
or otherwise belonging to any AmeriPath Entity, as well as any other materials containing Confidential Information as defined above. The Sellers recognize and agree that: 
  
 (i) All the AmeriPath Group Property shall be and remain the property of the AmeriPath Entity to which such
belongs; 
  
 (ii) Each Seller will preserve, use
and hold the AmeriPath Group Property only for the benefit of AmeriPath and its Affiliates and to carry out the business of the AmeriPath Entity, AmeriPath and its Affiliates; and 
  

 23 

 (iii) Upon request, each Seller will immediately deliver and surrender to the AmeriPath
Entity all the AmeriPath Group Property, including all copies, extracts or any other types of reproductions, which is in the possession or control of such Seller. 
  
 4.7 Structural Changes. The parties hereto intend that the form and substance of this Agreement and the transactions
contemplated hereby comply with, and not be inconsistent with, applicable Health Care Laws. Accordingly, notwithstanding any other term or provision of this Agreement in the event that AmeriPath, upon the advice of counsel, (i) determines at any
time following the date of the Closing that the transactions contemplated by this Agreement do not comply with, or are inconsistent with, applicable Health Care Laws, or (ii) proposes structural changes to this Agreement or the other documents
contemplated by this Agreement, which structural changes do not have a detrimental economic, legal or other significant impact on the Sellers, then the Sellers hereby irrevocably agree, upon AmeriPath’s request and at AmeriPath’s sole cost
and expense, to take, or cause to be taken, all action, and to do, or cause to be done, all things necessary, proper and advisable in AmeriPath’s judgment and at AmeriPath’s request to restructure the agreements and transactions
contemplated by this Agreement (the “Restructuring”) so that such agreements and transactions will be in compliance with, and/or not inconsistent with, applicable Health Care Laws, while preserving, to the maximum extent
practicable, the after-tax economic and business substance of such agreements and transactions. 
  
 4.8 Non-Competition. 
  
 (a) As a material and valuable inducement for AmeriPath to enter into this Agreement, pay and deliver the purchase price hereunder and
consummate the transactions contemplated hereby, and to adequately protect the goodwill of the Practice, during the Restricted Period (as defined below), provided that AmeriPath continues to provide any portion of the Services (as defined below) in
the Restricted Territory (as defined below), each Seller hereby agrees, unless otherwise permitted by AmeriPath in writing, that he shall not, directly or indirectly: 
  
 (i) engage in the provision of pathology services, including, without limitation, related laboratory testing
services or manage or provide other administrative services to a pathology practice (collectively, the “Services”) within twenty-five (25) miles of any hospital within the Saint Luke’s Health System (the “Restricted
Territory”), other than providing the Services pursuant to his Employment Agreement with the Practice: 
  
 (ii) have any equity interest in any Entity (as defined below) that provides Services in the Restricted Territory; 
  
 (iii) solicit, for the purpose of providing Services, any
person or Entity, including but not limited to a hospital, ambulatory surgery center, medical group, or physician, that has been a customer, client or patient of the Practice during the twelve (12) month period preceding the date hereof. Each Seller
acknowledges and agrees that he has had material contact with such persons or Entities, that the 

  

 24 

 
identity of and other business information relating to such persons and Entities is Confidential Information hereunder and that AmeriPath has a legitimate
interest in keeping such Confidential Information confidential; and 
  
 (iv) solicit, for the purpose of acquiring, any prospective acquisition candidate of AmeriPath or any AmeriPath Entity, on a Seller’s own behalf or on behalf of any competitor or potential competitor, which
candidate was involved in a meeting with AmeriPath or any AmeriPath Entity for purposes relating to acquiring such Entity or for which AmeriPath made an acquisition analysis for purposes relating to acquiring such Entity. 
  
 Notwithstanding the foregoing, it shall not be a violation
of subparagraph (a) above for any Seller to: 
  
 (A) perform Services in the Restricted Territory during the Restricted Period as an employee of a local, federal or state government or agency thereof or in performing his duties as a member of the United States military services or the
National Guard; 
  
 (B) serve as a professor or
in a similar capacity at a college or university; or 
  
 (C) hold as an investment not more than one percent (1%) of the outstanding capital stock of a competing business whose stock is traded on a national securities exchange or on Nasdaq. 
  
 (c) As used in this Agreement, the term (i)
“Restricted Period” shall mean the five (5) year period commencing on the date of the Closing and ending on the fifth anniversary thereof and (ii) “Entity” shall mean any corporation, partnership, sole
proprietorship, limited liability company, practice, business, company or other entity. 
  
 (d) Each Seller further agrees that during the Restricted Period, he will not directly or indirectly (i) solicit the employment of any
employee, agent or consultant of the Practice or any AmeriPath Entity, or (ii) induce any such employee to leave the employ of the Practice or such AmeriPath Entity. 
  
 (e) Each Seller hereby acknowledges and agrees that the provisions set forth in this Section 4.8 are
fair, reasonable and necessary to protect the legitimate interests of AmeriPath, and its Affiliates, and that this Section 4.8 was negotiated and bargained for and the consideration received by each of the Sellers reflects and assumes strict
compliance with these provisions. 
  
 (f) Each
Seller hereby acknowledges and agrees that (i) a breach of the provisions of this Section 4.8 would result in immediate, substantial and irreparable damage to AmeriPath and its Affiliates and (ii) such damage would be extremely difficult to
measure in terms of monetary damages and no other remedy for such breach would be adequate. Therefore, upon such a breach, AmeriPath shall be entitled to specific performance of these provisions and 

  

 25 

 
injunctive or other appropriate equitable relief and that the Sellers shall be jointly and severally responsible for the payment of court costs and other
fees and expenses incurred by AmeriPath (including reasonable attorneys’ fees) in connection with the enforcement of this Section 4.8. 
  
 (g) Each Seller agrees that if the scope of any restriction or covenant contained in this Section 4.8 should be or become too broad
or extensive to permit enforcement thereof to its fullest extent, then such restriction or covenant shall be enforced to the maximum extent permitted by law, and each Seller hereby consents and agrees that (i) it is the parties’ intention that
the covenants and restrictions contained herein be enforced as written and (ii) in the event a court of competent jurisdiction determines that any restriction or covenant contained herein is too broad or extensive to permit enforcement thereof to
its fullest extent, the scope of any such restriction or covenant may be modified accordingly in any judicial proceeding brought to enforce such restriction or covenant, but should be modified to permit enforcement of the restrictions and covenants
contained herein to the maximum extent the court, in its judgment, will permit. 
  
 4.9 Pre-Closing Date Tax Returns. The Sellers shall prepare or cause to be prepared, at Sellers’ expense, all Tax Returns and reports with respect to Taxes of the Practice which are required to be filed
for Tax periods ending prior to the Closing Date (each a “Pre-Closing Date Tax Return”), and the Sellers shall provide AmeriPath with such completed Pre-Closing Date Tax Returns together with appropriate supporting information and
schedules at least fifteen (15) business days prior to the due date for such Pre-Closing Date Tax Return for AmeriPath’s review and approval. Any amount of Tax shown on such Pre-Closing Date Tax Returns shall be deemed to be Retained
Liabilities and the Sellers shall jointly and severally indemnify and hold AmeriPath and its Affiliates harmless from and against such Taxes in accordance with Section 1.2 and Article VI hereof. After review and approval by AmeriPath,
AmeriPath shall cause such Pre-Closing Date Tax Returns to be signed on behalf of the Practice and filed with the appropriate Taxing Authority on or prior to the due date of such Pre-Closing Date Tax Return. The Sellers agrees that they shall not
file or cause to be filed any amended Pre-Closing Date Tax Returns without the prior written consent of AmeriPath. 
  
 ARTICLE V 
  
 CLOSING 
  
 5.1 Closing. Subject to
the satisfaction or waiver of the closing conditions set forth herein, the Closing shall be held on November 1, 2004 (the “Closing Date”). Unless otherwise agreed in writing by the parties, this Agreement shall be effective as of
12:01 a.m. on November 1, 2004. 
  
 5.2 Closing Deliveries.

  
 (a) In connection with the Closing, the
Sellers or the Practice as the case may be, shall deliver to AmeriPath the following: 
  
 (i) the Practice Stock Certificate evidencing all of the Shares; 
  

 26 

 (ii) copies of all consents, approvals, waivers or other authorizations from any Person
or Authority required with respect to the execution, delivery and performance of this Agreement and the consummation of the transactions contemplated hereby; 
  

(iii) the Employment Agreements, each executed by the relevant Seller and the Practice; 
  
 (iv) the Termination and Release Agreement, executed by each
Seller and the Practice; 
  
 (v) an Opinion of
Counsel to the Practice and the Sellers in substantially the form attached hereto as Exhibit E; and 
  
 (vi) a duly executed Pathology Services Agreement between the Practice and SLH on terms acceptable to AmeriPath; 
  
 (vii) a duly executed Pathology Services Agreement between
the Practice and SL Eastland on terms acceptable to AmeriPath; 
  
 (viii) a duly executed Pathology Services Agreement between the Practice and SL South on terms acceptable to AmeriPath; 
  
 (ix) a duly executed Asset Purchase Agreement between SLH and the Practice on terms acceptable to AmeriPath; 
  
 (x) the Merger Agreement, duly executed by the Practice and
Kansas P.A.; and 
  
 (xi) a certificate, signed
by the Practice’s secretary as to its articles of incorporation and bylaws, the resolutions adopted by its board of directors and stockholders in connection with this Agreement and the incumbency of certain of its officers. 
  
 (b) In connection with the Closing, AmeriPath (or the
appropriate AmeriPath Entity) shall deliver to the Seller the cash consideration required to be paid or delivered to the Sellers in accordance with Section 1.1; 
  
 ARTICLE VI 
  
 SURVIVAL OF TERMS; INDEMNIFICATION 
  
 6.1 Survival. All of the terms and conditions of this Agreement, together with the representations, warranties and covenants contained herein or in
any instrument or document delivered or to be delivered pursuant to this Agreement, shall survive the execution of this Agreement and the Closing notwithstanding any investigation heretofore or hereafter made by or on behalf of any party hereto;
provided, however, that (a) the agreements and covenants set forth 

  

 27 

 
in this Agreement shall survive and continue until all obligations (including the obligation that the Sellers indemnify and hold AmeriPath and its Affiliates
(including the Practice) harmless from and against all Retained Liabilities) set forth therein shall have been performed and satisfied; and (b) all representations and warranties shall survive and continue until: 
  
 (1) with respect to the representations and warranties in
Sections 2.17 (tax matters), 2.19 (ERISA matters), 2.21 (environmental matters) and 2.30 (health care regulatory matters), sixty (60) days following the expiration of the applicable statute of limitations and thereafter
for any indemnification claim made prior to such date; 
  
 (2) with respect to the representations and warranties in Sections 2.3 (capital stock), 2.5 (title to Shares), 2.6 (options and rights) and 2.31 (financial condition at Closing), these representations shall
survive and continue forever and without limitation; and 
  
 (3) with respect to all other representations and warranties, the date upon which AmeriPath receives from its auditors the audited financial statements for AmeriPath’s fiscal year ending December 31, 2006 (the
“2006 Audit Date”), except for representations, warranties and indemnities for which an indemnification Claim shall be pending as of the 2006 Audit Date, in which event such indemnities shall survive with respect to such Claim until
the final disposition thereof. 
  
 6.2 Indemnification by the
Sellers. Subject to this Article VI, AmeriPath, its Affiliates (including the Practice) and its Affiliates’ respective officers, directors, employees, shareholders, representatives and agents shall be indemnified and held harmless by
the Sellers severally but not jointly at all times after the date of this Agreement, against and in respect of any and all damage, loss, deficiency, liability, obligation, commitment, cost or expense (including the reasonable fees and expenses of
counsel) (collectively, “Damages”) resulting from, or in respect of, any of the following: 
  
 (a) Any misrepresentation, breach of warranty, or non-fulfillment of any obligation on the part of any of the Sellers or the Practice
under this Agreement, any document relating thereto or contained in any schedule or exhibit to this Agreement or from any misrepresentation in or omission from any certificate, schedule, other agreement or instrument by the any of the Sellers or the
Practice hereunder; 
  
 (b) Any and all Retained
Liabilities; 
  
 (c) Any claim by any beneficiary
of any of the Sellers; and 
  
 (d) All demands,
assessments, judgments, costs and reasonable legal and other expenses arising from, or in connection with any Claim incident to any of the foregoing. 
  
 6.3 Indemnification by AmeriPath. Subject to this Article VI, the Sellers and their respective heirs, assigns, representatives and agents
shall be indemnified and held harmless by 

  

 28 

 
AmeriPath, at all times after the date of this Agreement, against and in respect of any and all damage, loss, deficiency, liability, obligation, commitment,
cost or expense (including the fees and expenses of counsel) resulting from, or in respect of, any (i) misrepresentation, breach of warranty, or non-fulfillment of any obligation on the part of AmeriPath or any Affiliate of AmeriPath under this
Agreement or any document relating hereto, (ii) all liabilities of the Practice relating to time periods on and after the Closing Date (“Post-Closing Date Liabilities”) or (iii) the Assumed Liabilities. 
  
 6.4 Third-Party Claims. Except as otherwise provided in this
Agreement, the following procedures shall be applicable with respect to indemnification for third-party Claims. Promptly after receipt by the party seeking indemnification hereunder (hereinafter referred to as the “indemnitee”) of
notice of the commencement of any action or the assertion of any Claim, liability or obligation by a third party, including any Authority, (whether by legal process or otherwise), against which Claim, liability or obligation the other party to this
Agreement (hereinafter the “indemnitor”) is, or may be, required under this Agreement to indemnify such indemnitee, the indemnitee will, if a Claim thereon is to be made against the indemnitor, notify the indemnitor in writing of
the commencement or assertion thereof and give the indemnitor a copy of such Claim, process and all legal pleadings. The indemnitor shall have the right to participate in the defense of such action with counsel of reputable standing. The indemnitor
shall have the right to assume the defense of such action unless such action (i) may result in injunctions or other equitable remedies in respect of the indemnitee or its business; (ii) may result in liabilities which, taken with other then-existing
Claims under this Article VI, would not be fully indemnified hereunder; or (iii) may have an adverse impact on the business or financial condition of the indemnitee after the Closing Date (including an effect on the Tax liabilities, earnings
or ongoing business relationships of the indemnitee). The indemnitor and the indemnitee shall cooperate in the defense of such Claims. In the case that the indemnitor shall assume or participate in the defense of such audit, assessment or other
proceeding as provided herein, the indemnitee shall make available to the indemnitor all relevant records and take such other action and sign such documents as are necessary to defend such audit, assessment or other proceeding in a timely manner. If
the indemnitee shall be required by judgment or a settlement agreement to pay any amount in respect of any obligation or liability against which the indemnitor has agreed to indemnify the indemnitee under this Agreement, the indemnitor shall
promptly reimburse the indemnitee in an amount equal to the amount of such payment plus all reasonable expenses (including legal fees and expenses) incurred by such indemnitee in connection with such obligation or liability subject to this
Article VI. 
  
 An indemnitor shall not settle or seek to
settle any such Claim by a third party against an indemnitee except and only to the extent that the indemnitee gives prior written approval to the indemnitor to do so in the specific case, and no such settlement shall be binding on the indemnitee
unless the settlement is duly agreed to in writing by the indemnitee. 
  
 An indemnitee shall have the right to employ its own counsel in any case, but the fees and expenses of such counsel shall be at the expense of the indemnitee unless (a) the employment of such counsel shall have been authorized in writing by
the indemnitor in connection with the defense of such action or Claim, (b) the indemnitor shall not have employed, or is prohibited under this Section 6.4 from employing, counsel in the defense of such action or Claim, or (c) 

  

 29 

 
such indemnitee shall have reasonably concluded that there may be defenses available to it which are contrary to, or inconsistent with, those available to
the indemnitor, in any of which events such fees and expenses of not more than one additional counsel for the indemnified parties shall be borne by the indemnitor. 
  
 6.5 Additional Indemnification Provisions. 
  
 (a) No party or Person shall have any claim for indemnification hereunder with respect to (i) any Tax
liabilities arising by reason of any reduction or disallowance of deductions from taxable income in one taxable year, to the extent such reduction or disallowance results in a corresponding increase in allowable deductions from income in another
taxable year or (ii) the shifting of items of income from one taxable year to another; provided that the party or Person who then recognizes the income also receives the economic benefit of such income. 
  
 (b) The amount of any claim for which indemnification is
provided under this Article VI shall be net of any amount recovered by the party or Person seeking indemnification under insurance policies with respect to the subject matter of such claim. If, following the receipt by a party or Person of
any indemnity hereunder, such party or Person shall receive any insurance recovery or indemnity payment from a third party in respect of the same underlying claim, such party or Person shall reimburse the party from whom such indemnity payment was
received to the extent of such insurance recovery or third party indemnity payment. 
  
 (c) In no event shall the aggregate liability of the Sellers under this Article VI with respect to indemnification claims based on
breaches of representations and warranties (except for breaches of Section 2.31 of this Agreement) exceed the value of the purchase price received by the Sellers hereunder (including any additional purchase consideration paid pursuant to
Section 4.10). No indemnification shall be required to be made by Sellers under this Article VI unless the dollar amount of the claims made against any or all of the Sellers in the aggregate exceeds $25,000, in which case indemnification
shall be made by Sellers for all amounts. 
  
 (d)
In no event shall the aggregate liability of AmeriPath under this Article VI with respect to indemnification claims based on breaches of representations and warranties exceed the value of the purchase price received by the Sellers hereunder
(including any additional purchase consideration paid pursuant to Section 4.10). No indemnification shall be required to be made by AmeriPath under this Article VI unless the dollar amount of the claims made against AmeriPath exceeds
$25,000 in the aggregate, in which case indemnification shall be made by AmeriPath for all amounts. 
  
 (e) Subsections (c) and (d) above shall not apply to indemnification claims made under Section 1.2 or this Article
VI (i) based on breaches of covenants hereunder, (ii) by AmeriPath against any Seller with respect to Retained Liabilities, (iii) by AmeriPath based on breaches of Section 2.31 of this Agreement, (iv) by AmeriPath under Sections
6.2(c) hereof, (v) by Seller against AmeriPath with respect to Assumed Liabilities or Post-Closing Date Liabilities or (vi) based on the fraudulent actions of any party hereto. 
  

 30 

 ARTICLE VII 
  
 MISCELLANEOUS PROVISIONS 
  
 7.1 Amendment and Modification. Subject to applicable law, this Agreement may be amended, modified and supplemented
only by a written agreement signed by the parties. 
  
 7.2
Entire Agreement. This Agreement, including the schedules and exhibits hereto and the documents, annexes, attachments, certificates and instruments referred to herein and therein, embodies the entire agreement and understanding of the parties
hereto in respect of the agreements and transactions contemplated by this Agreement and supersedes all prior agreements, representations, warranties, promises, covenants, arrangements, communications and understandings, oral or written, express or
implied, between the parties with respect to such transactions. There are no agreements, representations, warranties, promises, covenants, arrangements or understandings between the parties with respect to such transactions, other than those
expressly set forth or referred to herein. 
  
 7.3 Certain
Definitions; Interpretation. 
  
 “Affiliate” means, with regard to any Person, (a) any Person, directly or indirectly, controlled by, under common control of, or controlling such Person, (b) any Person, directly or indirectly, in which such Person holds,
of record or beneficially, five percent or more of the equity or voting securities, (c) any Person that holds, of record or beneficially, five percent or more of the equity or voting securities of such Person, (d) any Person that, through Contract,
relationship or otherwise, exerts a substantial influence on the management of such Person’s affairs, (e) any Person that, through Contract, relationship or otherwise, is influenced substantially in the management of their affairs by such
Person, or (f) any director, officer, partner or individual holding a similar position in respect of such Person. After the Closing Date, for purposes of this Agreement only, the Practice shall be deemed to be an Affiliate of AmeriPath. 

 
 “Authority” means any governmental,
regulatory or administrative body, agency, arbitrator or authority, any court or judicial authority, any public, private or industry regulatory agency, arbitrator authority, whether international, national, federal, state or local. 
  
 “Claim” means any action, claim,
obligation, liability, expense, lawsuit, demand, suit, inquiry, hearing, investigation, notice of a violation, litigation, proceeding, arbitration, or other dispute, whether civil, criminal, administrative or otherwise, whether pursuant to
contractual obligations or otherwise. 
  
 “Contract” means any agreement, contract, commitment, instrument or other binding arrangement or understanding, whether written or oral. 
  
 “Environmental Law” means any Regulation, Order, settlement agreement or governmental
requirement, which relates to or otherwise imposes liability or standards of conduct concerning mining or reclamation of mined land, discharges, emissions, releases 

  

 31 

 
or threatened releases of noises, odors or any pollutants, contaminants or hazardous or toxic wastes, substances or materials, whether as matter or energy,
into ambient air, water, or land, or otherwise relating to the manufacture, processing, generation, distribution, use, treatment, storage, disposal, cleanup, transport or handling of pollutants, contaminants, or hazardous wastes, substances or
materials, including (but not limited to) the Comprehensive Environmental Response, Compensation and Liability Act of 1980, the Superfund Amendments and Reauthorization Act of 1986, as amended, the Resource Conservation and Recovery Act of 1976, as
amended, the Toxic Substances Control Act of 1976, as amended, the Federal Water Pollution Control Act Amendments of 1972, the Clean Water Act of 1977, as amended, any so-called “Superlien” law, and any other similar Federal, state or
local statutes. 
  
 “Environmental
Permit” shall mean Permits, certificates, approvals, licenses and other authorizations relating to or required by Environmental Law and necessary or desirable for the business of the Practice. 
  
 “GAAP” shall mean U.S. Generally Accepted
Accounting Principles. 
  
 “Health Care
Laws” means any federal, state, or local Regulation or Order, of any Authority, which relates to or otherwise imposes liability or standards of conduct concerning the licensure, certification, qualification, or operation of a clinical or
pathology laboratory, medical practice or other aspect of a Person’s business subject to such Health Care Laws, including but not limited to laws governing Medicare and Medicaid laboratories, laws regarding the professional standards of health
care professionals; laws governing patient confidentiality and privacy; laws governing the corporate practice of medicine; laws governing laboratories; laws relating to kickbacks, self-referrals and access to health care, as well as the Employee
Health Care Access Act; 21 U.S.C. ‘301-392, the Federal Food Drug and Cosmetic Act; 21 U.S.C. 821 et seq., the Federal Drug Abuse Act; Sections 1128, 1128A and 1128B of the Social Security Act; The Clinical Laboratory Improvement Amendments of
1988; 42 U.S.C. 1320a-7b, 42 C.F.R. Part 1001, 42 CFR Chapter IV, Subchapter C; Sections 1876 or 1903 of the Social Security Act; 45 CFR, Part 74; 45 CFR, Part 92; 42 CFR 455.109 Section 306 of the Clean Air Act; 42 U.S.C. ‘1857(h) et seq.,
Section 508 of the Clean Water Act; 33 U.S.C. ‘1368 et seq., Executive Order 11738 and Environmental Protection Agency regulations; 40 CFR Part 15, Title VI of the Civil Rights Act of 1964; 42 U.S.C. ‘2000 d et seq., Section 504 of the
Rehabilitation Act of 1933; 29 U.S.C. ‘7940; Title IX of the Education Amendments of 1972, 20 U.S.C. ‘1681 et seq., the Age Discrimination Act of 1975; 42 U.S.C. ‘6101 et seq., Section 654 of OBRA ‘81; 42 U.S.C. ‘9849 and
the Americans with Disabilities Act of 1990; P.L. 101-336, OBRAs 1986 through 1993, as amended, the Health Insurance Portability and Accountability Act, as amended, and any other similar Federal, state or local Regulations. 
  
 “Lien” means any security interest, lien,
mortgage, pledge, hypothecation, encumbrance, Claim, easement, title defect or imperfection, restriction or interest of another Person of any kind or nature. 
  

 32 

 “Material Adverse Change” means any development or change that has had
or is reasonably likely to have a Material Adverse Effect. 
  
 “Material Adverse Effect” means any circumstances, state of facts or matters which has, or might reasonably be expected to have, a material adverse effect in respect of AmeriPath’s or the
Practice’s (as the case may be) business, operations, properties, assets, condition (financial or otherwise), results, plans, strategies or prospects. 
  
 “Order” means any decree, consent decree, judgment, award, order, injunction, rule, consent of or by an Authority.

  
 “Person” means any
corporation, partnership, joint venture, company, syndicate, organization, association, trust, entity, Authority or natural person. 
  
 “Proprietary Rights” means any patent, patent application, copyright, trademark, trade name, service mark, domain name,
service name, trade secret, know-how, confidential information or other intellectual property or proprietary rights. 
  
 “Regulation” means any law, statute, rule, regulation, ordinance, requirement, announcement or other binding action of or
by an Authority. 
  
 “Subsidiary” means any Person that AmeriPath or the Practice, as the case may be, owns, directly or indirectly, 50% or more of the outstanding stock or other equity interests. 
  
 “Tax” or “Taxes” mean any
federal, state, county, local, foreign or other tax, charge, imposition or other levy (including interest or penalties thereon) including without limitation, income taxes, estimated taxes, excise taxes, sales taxes, use taxes, gross receipts taxes,
franchise taxes, taxes on earnings and profits, employment and payroll related taxes, property taxes, real property transfer taxes, Federal Insurance Contributions Act taxes, any taxes related to unclaimed property, taxes on value added and import
duties, whether or not measured in whole or in part by net income, imposed by the United States or any political subdivision thereof or by any jurisdiction other than the United States or any political subdivision thereof. 
  
 “Tax Return” means any and all returns,
reports, filings, claims for refunds, declarations and statements relating to Taxes that are required to be filed, recorded, or deposited with any regulatory or Taxing authority, including any attachment thereto or amendment thereof. 
  

 33 

 7.4 Notices. All notices, requests, demands and other communications required or permitted
hereunder shall be in writing and shall be deemed to have been duly given when delivered by hand or mailed, first class certified mail with postage paid or by overnight receipted courier service: 
  

	 	(a)	If to AmeriPath, to: 

  
 AmeriPath, Inc. 
 7289 Garden Road, Suite
200 
 Riviera Beach, Florida 33404 
 Attn: President 
  
 with a copy to:

  
 Baker & McKenzie 
 Mellon Financial Center 
 1111 Brickell
Avenue, Suite 1700 
 Miami, Florida 33131 
 Attn: Roy J. Larson 
  
 or to such other person or address as AmeriPath shall furnish by notice to the Sellers in writing. 
  

	 	(b)	If to the Sellers, to: 

  
 Michael Morgan, M.D. 
 c/o Saint Luke’s
Hospital 
 4401 Wornall Road 
 Kansas City, Missouri 64111 
  
 with a
copy to: 
  
 Shughart Thomson & Kilroy 
 Twelve Wyandotte Plaza 
 120 West
12th Street 
 Kansas City, Missouri 64105 
 Attn: Randal L. Schultz, Esq. 
  
 7.5 Exhibits and Schedules. The Exhibits and Schedules referred to in this Agreement are attached hereto and
incorporated herein by this reference. Disclosure of a specific item in any one Schedule shall be deemed restricted only to the Section of this Agreement to which such disclosure relates, except where, and to the extent that, there is an explicit
cross-reference in such Schedule to another Schedule. 
  
 7.6
Waiver of Compliance; Consents. Any failure of any party hereto to comply with any obligation, covenant, agreement or condition herein may be waived in writing by the other parties hereto, but such waiver or failure to insist upon strict
compliance with such obligation, covenant, agreement or condition shall not operate as a waiver of, or estoppel with respect to, any subsequent or other failure. Whenever this Agreement requires or permits consent by or on behalf of any party
hereto, such consent shall be given in writing. 
  

 34 

 7.7 Assignment. This Agreement and all of the provisions hereof shall be binding upon and inure to
the benefit of the parties hereto and their respective successors and permitted assigns, but neither this Agreement nor any of the rights, interests or obligations hereunder shall be assigned by any of the parties hereto without the prior written
consent of the other parties, except that AmeriPath may assign its rights, interests and obligations hereunder to any Subsidiary (provided that AmeriPath shall not be relieved of any obligations hereunder) and may grant Liens or security interests
in respect of its rights and interests hereunder, without the prior approval of the Sellers or the Practice. 
  
 7.8 Governing Law. The Agreement shall be governed by the internal laws of the State of Missouri as to all matters, including but not limited to
matters of validity, construction, effect and performance, without regard to the conflicts of law principles thereof. 
  
 7.9 Consent to Jurisdiction; Service of Process. Each party hereby irrevocably submits to the jurisdiction of the state or federal courts located
in Kansas City, Missouri in connection with any suit, action or other proceeding arising out of or relating to this Agreement and the transactions contemplated hereby, and hereby agrees not to assert, by way of motion, as a defense, or otherwise in
any such suit, action or proceeding that the suit, action or proceeding is brought in an inconvenient forum, that the venue of the suit, action or proceeding is improper or that this Agreement or the subject matter hereof may not be enforced by such
courts. 
  
 7.10 Injunctive Relief. The parties hereto
agree that in the event of a breach of any provision of this Agreement, the aggrieved party or parties may be without an adequate remedy at law. The parties therefore agree that in the event of a breach of any provision of this Agreement, the
aggrieved party or parties may elect to institute and prosecute proceedings in any court of competent jurisdiction to enforce specific performance or to enjoin the continuing breach of such provision, as well as to obtain damages for breach of this
Agreement. By seeking or obtaining any such relief, the aggrieved party shall not be precluded from seeking or obtaining any other relief to which it may be entitled. 
  
 7.11 Headings. The article, section and other headings contained in this Agreement are for reference purposes only
and do not affect in any way the meaning or interpretation of this Agreement (or any provision hereof). 
  
 7.12 Pronouns and Plurals. Whenever the context may require, any pronoun used in this Agreement shall include the corresponding masculine,
feminine, or neuter forms, and the singular forms of nouns, pronouns, and verbs include the plural and vice versa. 
  
 7.13 Construction. The parties acknowledge that each party has reviewed and revised this Agreement and that the normal rule of construction to the
effect that any ambiguities are to be resolved against the drafting party shall not be employed in the interpretation of this Agreement. 
  
 7.14 Dealings in Good Faith; Best Efforts. Each party hereto agrees to act in good faith with respect to the other party in exercising its rights
and discharging its obligations under this Agreement. Each party further agrees to use its best efforts to ensure that the purposes of this 

  

 35 

 
Agreement are realized and to take all further steps as are reasonably necessary to implement the provisions of this Agreement. Each party agrees to execute,
deliver and file any document or instrument necessary or advisable to realize the purposes of this Agreement. 
  
 7.15 Binding Effect. This Agreement shall not be construed so as to confer any right or benefit upon any Person other than the signatories to this
Agreement and each of their respective successors and permitted assigns. 
  
 7.16 Delays or Omissions. No delay or omission to exercise any right, power or remedy accruing to any party hereto, upon any breach or default of any other party under this Agreement, shall impair any such
right, power or remedy of such party nor shall it be construed to be a waiver of any such breach or default, or an acquiescence therein, or of or in any similar breach or default thereafter occurring; nor shall any waiver of any single breach or
default be deemed a waiver of any other breach or default theretofore or thereafter occurring. Any waiver, permit, consent or approval of any kind or character on the part of any party hereto of any breach or default under this Agreement, or any
waiver on the part of any party of any provisions or conditions of this Agreement must be made in writing and shall be effective only to the extent specifically set forth in such writing. All remedies, either under this Agreement or by law or
otherwise afforded to any party, shall be cumulative and not alternative. 
  
 7.17 Severability. Unless otherwise provided herein, if any provision of this Agreement shall be invalid, illegal or unenforceable, the validity, legality and enforceability of the remaining provisions shall
not in any way be affected or impaired thereby. 
  
 7.18
Expenses. All fees, costs and expenses (including, without limitation, legal, auditing, broker, consulting and accounting fees, costs and expenses) incurred in connection with considering, pursuing, negotiating, documenting or consummating
this Agreement and the transactions contemplated hereby shall be borne and paid solely by the party incurring such fees, costs and expenses, except as otherwise expressly provided herein. The Sellers agree that any and all such expenses on behalf of
the Practice or the Sellers shall not be paid or incurred by the Practice and shall be at the sole cost and expense of the Sellers. 
  
 7.19 Attorneys’ Fees. If any party to this Agreement seeks to enforce the terms and provisions of this Agreement, then the prevailing party in
such action shall be entitled to recover from the losing party all costs in connection with such action, including without limitation reasonable attorneys’ fees, expenses and costs incurred with respect to trials, appeals and collection.

  
 7.20 Counterparts. This Agreement may be executed in
two or more counterparts, each of which shall be deemed an original, but all of which together shall constitute one and the same instrument. An executed counterpart of this Agreement successfully transmitted by fax shall have the same force and
effect as an originally executed counterpart upon receipt. 
  

 36 

 ARTICLE VIII 
  
 CLOSING CONDITIONS; TERMINATION 
  
 8.1 Conditions to Obligations of AmeriPath. Each and every obligation of AmeriPath to close the transactions
contemplated under this Agreement shall be subject to the satisfaction, on or before the Closing Date, of each of the following conditions, unless waived in writing by AmeriPath: 
  
 (a) Representations and Warranties; Covenants and Agreements. The representations and warranties of
Sellers and Company contained in Article II and elsewhere in this Agreement and all information contained in any exhibit, certificate, schedule or attachment hereto or in any writing delivered by, or on behalf of, Seller or Practice to
AmeriPath, shall be true and correct in all material respects when made and shall be true and correct in all material respects on the Closing Date as though then made, except as expressly provided herein. Sellers and Practice shall have performed
and complied in all material respects with all agreements, covenants and conditions and shall have made all deliveries required by this Agreement to be performed, delivered and complied with by them prior to the Closing Date. The Sellers and
Practice shall have executed and delivered to AmeriPath a certificate, dated the Closing Date, certifying to the foregoing. 
  
 (b) No Injunction. No preliminary or permanent injunction or other Order, decree or ruling issued by any Authority, or any
Regulation promulgated or enacted by any Authority shall be in effect, which would prevent the consummation of the transactions contemplated hereby. 
  
 (c) Third Party Consents. AmeriPath, Sellers and Practice shall have obtained all consents, approvals, waivers or other
authorizations with respect to the execution, delivery and performance of this Agreement and the consummation of the transactions contemplated hereby, such that the Contracts and leases listed in Schedule 2.13 hereto shall remain in effect
(without default, acceleration, termination, assignment, right of termination or assignment, payment, increase in rates or compensation payable, penalty, interest or other adverse effect) from and after the Closing Date as such contracts and leases
operated and were in effect before the Closing Date. 
  
 (d) Regulatory Approvals. All appropriate licenses, consents, certificates, permits and other approvals required by applicable governmental and regulatory agencies and authorities shall have been obtained for all entities affected by
the transactions contemplated therein. 
  
 (e)
No Material Adverse Change. There shall have been no Material Adverse Change since the date of this Agreement. AmeriPath shall have received a certificate (which shall be addressed to AmeriPath), dated the Closing Date, of the Sellers and
Practice, certifying to the foregoing. 
  

 37 

 (f) Due Diligence. AmeriPath shall have completed its due diligence review and
such review is satisfactory to AmeriPath, in its reasonable discretion. 
  
 (g) Additional Deliveries. Sellers shall have delivered or caused the delivery of the items set forth in Section 5.2(a). 
  

8.2 Conditions to Obligations of Seller. Each and every obligation of the Sellers to close the transaction contemplated under this Agreement
shall be subject to the satisfaction, on or before the Closing Date, of each of the following conditions unless waived in writing by Seller: 
  
 (a) Representations and Warranties; Performance. The representations and warranties of AmeriPath contained in Article III
and elsewhere in this Agreement and all information contained in any exhibit, schedule or attachment hereto delivered by AmeriPath to the Seller, shall be true and correct in all material respects when made and shall be true and correct in all
material respects on the Closing Date as though then made, except as expressly provided herein. AmeriPath shall have performed and complied in all material respects with all agreements, covenants and conditions required by this Agreement to be
performed and complied with by them prior to the Closing Date. An authorized officer of AmeriPath shall have delivered to the Seller a certificate, dated the Closing Date, certifying to the foregoing. 
  
 (b) No Injunction. No preliminary or permanent
injunction or other Order, decree or ruling issued by any Authority, or any Regulation promulgated or enacted by any Authority shall be in effect, which would prevent the consummation of the transactions contemplated hereby. 
  
 (c) Additional Deliveries. AmeriPath shall have
delivered or cause the delivery of the items set forth in Section 5.2(b). 
  
 8.3 Termination. This Agreement may be terminated and the transactions herein contemplated may be abandoned: 
  
 (a) by mutual consent of AmeriPath and Sellers. 
  

(b) by the AmeriPath or the Sellers and Company if this Agreement is not consummated on or before November 4, 2004; provided,
however, that if any party has breached its respective obligations under this Agreement or failed to satisfy a condition applicable to it on or before such date, such party may not terminate this Agreement pursuant to this Section
8.3, and each other party to this Agreement shall at its option enforce its rights against such breaching or defaulting party and seek any remedies against such party, in either case as provided hereunder and by applicable law. 
  
 (c) by AmeriPath or the Seller if this agreement is not
consummated on or before November 30, 2004; provided, however, that such termination shall not prohibit any party from seeking damages arising from a breach arising hereunder or from seeking injunctive or other equitable relief with
respect to a breach of Section 4.5 or section 4.6 of this Agreement. 
  
 * * * 
  

 38 

 IN WITNESS WHEREOF, the parties hereto have made and entered into this Agreement the date set
forth above. 
  

			
	AMERIPATH:
	
	AMERIPATH, INC.,
		
	By:	 	/s/    DAVID REDMOND        
	 Name:
	 	David Redmond
	 Title:
	 	Executive Vice President and Chief Financial Officer

  

	
	SELLERS:
	
	/s/    KENNETH R. WATSON        
	Kenneth R. Watson, D.O.
	
	/s/    R. SCOTT STROBACH        
	R. Scott Strobach, M.D.
	
	/s/    MICHAEL C. MORGAN        
	Michael C. Morgan, M.D.
	
	/s/    JOHN R. DOBSON,
III        
	John R. Dobson, III, M.D.

  

			
	R. SCOTT STROBACH REVOCABLE LIVING TRUST dated August 19, 1992
		
	By:	 	/s/    R. SCOTT STROBACH        
	 	 	R. Scott Strobach, Co-Trustee
		
	By:	 	/s/    ROBIN MURRAY
STROBACH        
	 	 	Robin Murray Strobach, Co-Trustee

  

			
	 PRACTICE:
 ST. LUKE’S
PATHOLOGY ASSOCIATES, INC.

		
	By:	 	/s/    R. SCOTT STROBACH        
	 Name:
	 	R. Scott Strobach
	 Title:
	 	President

  

 39

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