Document:

EX-10.6

 Exhibit 10.6 

EXECUTION COPY 
 OFFICE
LEASE 
 BY AND BETWEEN 

405 HOWARD, LLC 
 AND

 FITBIT, INC. 

Date: September 30, 2013 

405 Howard Street 
 San
Francisco, California 
 Suites 400 and 550 

							
			TABLE OF CONTENTS				
			
	ARTICLE 1		 Basic Lease Information
		 	1	  
	ARTICLE 2		 Agreement
		 	6	  
	ARTICLE 3		 Use
		 	7	  
	ARTICLE 4		 The Premises
		 	8	  
	ARTICLE 5		 Monthly Rent
		 	14	  
	ARTICLE 6		 Additional Rent for Operating Expenses
		 	14	  
	ARTICLE 7		 Additional Rent for Taxes
		 	20	  
	ARTICLE 8		 Insurance
		 	21	  
	ARTICLE 9		 Requirements of Law and Environmental Hazards
		 	22	  
	ARTICLE 10		 Assignment and Subletting
		 	23	  
	ARTICLE 11		 Rules and Regulations
		 	28	  
	ARTICLE 12		 Common Areas
		 	28	  
	ARTICLE 13		 Landlord’s Services
		 	29	  
	ARTICLE 14		 Tenant’s Care of the Premises
		 	32	  
	ARTICLE 15		 Alterations
		 	32	  
	ARTICLE 16		 Construction Liens
		 	35	  
	ARTICLE 17		 End of Term
		 	35	  
	ARTICLE 18		 Eminent Domain
		 	36	  
	ARTICLE 19		 Damage and Destruction
		 	37	  
	ARTICLE 20		 Subordination
		 	38	  
	ARTICLE 21		 Entry by Landlord
		 	40	  
	ARTICLE 22		 Indemnification, Waiver, and Release
		 	41	  
	ARTICLE 23		 Security Deposit and Prepaid Rent
		 	42	  
	ARTICLE 24		 Quiet Enjoyment
		 	44	  
	ARTICLE 25		 Effect of Sale
		 	44	  
	ARTICLE 26		 Default
		 	44	  
	ARTICLE 27		 Parking
		 	48	  
	ARTICLE 28		 Arbitration
		 	48	  
	ARTICLE 29		 Miscellaneous
		 	50	  
	ARTICLE 30		 Extension Option
		 	56	  
	ARTICLE 31		 Right of First Offer
		 	57	  
			
	EXHIBIT A		 THE PREMISES
				
	EXHIBIT B		 LEGAL DESCRIPTION OF LAND
				
	EXHIBIT C		 RULES AND REGULATIONS
				
	EXHIBIT D		 COMMENCEMENT DATE AGREEMENT
				
	EXHIBIT E		 LETTER OF CREDIT FORM
				
			
	Schedule 1		 Approved Test-Fit
				
	Schedule 2		 Pre-approved Subcontractors
				
	Schedule 3		 Hardware Lab Substances
				

 THIS OFFICE LEASE is entered into by Landlord and Tenant as described in the following
Basic Lease Information on the date that is set forth for reference only in the following Basic Lease Information. Landlord and Tenant agree: 

W I T N E S S E T H: 

ARTICLE 1 
 BASIC LEASE
INFORMATION 
 Section 1.1 Basic Lease Information. The following terms are referred to in other provisions of the Lease.
Each such reference shall incorporate the applicable Basic Lease Information. In the event of any conflict between the Basic Lease Information and the provisions of the Lease, the latter shall control. 

(a) LEASE DATE: September 30, 2013. 

(b) LANDLORD: 405 Howard, LLC. 

(c) LANDLORD’S ADDRESS: 

c/o Langley Investment Properties, Inc. 

1211 SW Fifth Avenue, Suite 2230 

Portland, Oregon 97204 

Attention: Scott C. Langley 

with a copy at the same time to: 

The Ashforth Company 
 707 Summer
Street, 4th Floor 
 Stamford, Connecticut 06901 

Attention: Michael Pollack, Esq. 

(d) TENANT: Fitbit, Inc. 
 (e)
TENANT’S ADDRESS: 
 Prior to the Suite 400 Delivery Date: 

Fitbit, Inc. 
 150 Spear Street,
Suite 200 
 San Francisco, CA 94105 

Attn: General Counsel 
 After
Lease Commencement: 
 Fitbit, Inc. 

405 Howard Street 
 San
Francisco, CA 94105 
 Attn: General Counsel 

  
 1 

 (f) BUILDING ADDRESS: 405 Howard Street, San Francisco, California 94105. 

(g) PREMISES: As shown on Exhibit A and known as Suites 400 and 550. 

(h) RENTABLE AREA OF THE PREMISES: Landlord represents that the Rentable Areas of the Premises has been measured in accordance with 1996
standards as promulgated by the Building Owners and Managers Association.  
 Suite 400: 13,199 square feet; and 

Suite 550: 44,170 square feet. 

(i) RENTABLE AREA OF THE BUILDING: 521,555 square feet. 

(j) TERM: Beginning on the Commencement Date and expiring on the Expiration Date. 

(k) COMMENCEMENT DATE: As used herein, the term “Commencement Date” shall have different meanings as applied to Suite 400 and Suite
550. The “Suite 400 Commencement Date” shall mean the earliest to occur of (i) the date that is sixty (60) days after the Suite 400 Delivery Date or (ii) the date of substantial completion of “Tenant’s
Initial Alterations” (as hereinafter defined) in Suite 400 or (iii) the date of Tenant’s occupancy of Suite 400 for the conduct of business. The “Suite 550 Commencement Date” shall mean the earliest to occur of
(i) the date that is three (3) months after the Suite 550 Delivery Date or (ii) the date of Tenant’s occupancy of Suite 550 for the conduct of business. 

(l) DELIVERY DATE: 
 Suite 400
Delivery Date: The date that is five (5) business days after the Lease Date. 
 Suite 550 Delivery Date: Upon the date the
following conditions have been met (i) expiration of the Lease of the existing tenant of Suite 550 (scheduled for December 31, 2013) and (ii) such tenant has vacated possession of Suite 550 and has removed its personal property,
equipment and fixtures therefrom. 
 (m) RENT COMMENCEMENT DATE: 

Suite 400 Rent Commencement Date: Two (2) months after the Suite 400 Commencement Date. 

Suite 550 Rent Commencement Date: Two (2) months after the Suite 550 Commencement Date. 

  
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 (n) EXPIRATION DATE: The last day of the calendar month in which the day preceding the six
(6) year anniversary of the Suite 550 Commencement Date occurs. 
 (o) SECURITY DEPOSIT: $2,100,000.00, subject to the provisions of
Section 23.5 hereof. 
 (p) FIRST MONTH’S RENT: $249,270.17. 

(q) MONTHLY RENT: 
 Suite
400: Suite 400 Rent 
 Commencement Date – 

Suite 550 Rent Commencement 
  

					
		
	 Date:
		$	54,946.67	  
		
	 Lease Year 1:
		$	57,060.00	  
		
	 Lease Year 2:
		$	58,771.80	  
		
	 Lease Year 3:
		$	60,536.43	  
		
	 Lease Year 4:
		$	62,353.00	  
		
	 Lease Year 5:
		$	64,224.20	  
		
	 Lease Year 6:
		$	66,147.33	  
		
	 Suite 550:
				
		
	 Lease Year 1:
		$	194,323.50	  
		
	 Lease Year 2:
		$	200,153.21	  
		
	 Lease Year 3:
		$	206,162.84	  
		
	 Lease Year 4:
		$	212,352.40	  
		
	 Lease Year 5:
		$	218,721.90	  
		
	 Lease Year 6:
		$	225,271.32	  

 (r) TENANT’S SHARE: 11.00%. 

(s) BROKER: Avison Young and Jones Lang LaSalle. 

  
 3 

 (t) BASE YEAR:   For Operating Expenses: The 2014 calendar year. 

     For Taxes: The 2014 calendar year. 

(u) FIRST MONTHLY RENT ADJUSTMENT DATE: 

     For Operating Expenses: January 1, 2015. 

     For Taxes: January 1, 2015. 

(v) TENANT IMPROVEMENT ALLOWANCE: $1,612,490.00 

Section 1.2 Definitions. 

(a) ADA: Americans with Disabilities Act of 1990, as amended, and applicable provisions, standards or regulations under local, state or
federal law requiring standards for making new or existing facilities accessible to persons with disabilities. “Certified Access Specialist” shall mean a person certified as to perform inspections of places of public accommodations under
applicable ADA standards. 
 (b) ADDITIONAL RENT: Any amounts that this Lease requires Tenant to pay in addition to Monthly Rent. 

(c) BUILDING: The Orrick Building located at 405 Howard Street, San Francisco, California. 

(d) ISSUING BANK: A commercial bank whose commercial paper, short-term debt obligations and other short-term deposits are rated at least
“A-1+” or the equivalent by Standard & Poors Rating Services, Inc. (“S&P”) and Moody’s Investors Services, Inc. (“Moody’s”), and whose long-term senior unsecured deposits are rated at
least “AA” or the equivalent by S&P and Moody’s. 
 (e) LAND: The Land on which the Project is located and which is
described on Exhibit B. 
 (f) LEASE YEAR: The twelve (12) month period beginning on the first day of the month in which the
Suite 550 Rent Commencement Date occurs and each succeeding twelve (12) month period thereafter. 
 (g) LEGAL REQUIREMENTS: Any of the
following which affect the Project, Building or Premises or any part thereof: (i) all laws, orders, rules, judgments, regulations, directions, requirements, certificates, permits, policies, codes or ordinances of any governmental or
quasi-governmental agency, authority, instrumentality, officer or utility, whether federal, state, county, municipal or local or any business improvement or other community district; (ii) the provisions of any and all recorded documents; and
(iii) the requirements of any insurance carrier or rating organization. 

  
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 (h) ENVIRONMENTAL LAWS: Legal Requirements governing either safety, health or the protection of
the environment, including without limitation the Comprehensive Environmental Response, Compensation and Liability Act, 42 U.S.C. 9601 et seq., the Resource Conservation and Recovery Act, 42 U.S.C. 6901 et seq., the Clean Water Act, 33
U.S.C. 1251 et seq., the Clean Air Act, 42 U.S.C. 7401 et seq., the Toxic Substance Control Act, 15 U.S.C. 2601 et seq., and the Safe Drinking Water Act, 42 U.S.C. 300f through 300j, all as amended, and all regulations
promulgated thereunder. 
 (i) HAZARDOUS SUBSTANCES: Any substance which is toxic, ignitable, reactive or corrosive or which is regulated by
Environmental Laws. “Hazardous Substance” includes any and all materials or substances which are defined as “hazardous waste”, “extremely hazardous waste” or a “hazardous substance” pursuant to state, federal
or local governmental law. Hazardous Substance also include asbestos, polychlorinated biphenyls (“PCBs”) and petroleum products. 

(j) NOTICE: Notices shall be in writing and (i) personally delivered to the offices set forth above, in which case such notice shall be
deemed given on the date of delivery or the first (1st) business day thereafter if delivered other than on a business day or after 5:00 p.m. Pacific time to said offices; (ii) sent by registered or certified mail, postage prepaid, return
receipt requested, in which case such notice shall be deemed given on the date shown on the receipt; or (iii) sent for next day delivery with a nationally recognized overnight courier, in which case such notice shall be deemed given on the
first (1st) business day after the date such notice was delivered to or picked up by the courier. If delivery is refused or delayed by the addressee, such Notice shall be deemed given on the business day on which the first attempted delivery
occurred. 
 Either party may add additional addresses or change its address for purposes of receiving Notices upon at least ten
(10) days prior Notice of such change or addition. Tenant’s current billing contact is Meena Srinivasan. 
 (k) PRIME RATE: The
rate of interest from time to time announced by U.S. Bank National Association (“USB”), or any successor to it, as its prime rate. If USB, or any successor to it, ceases to announce a prime rate, the Prime Rate will be a comparable
interest rate designated by Landlord. 
 (l) PROJECT: The Land and all improvements built on the Land, including without limitation the
Building, parking lot(s), parking structure, if any, walkways, driveways, fences, and landscaping. 
 (m) RENT: The Monthly Rent and
Additional Rent. 
 (n) TAXES: All real and personal property taxes, school taxes, sewer rates and charges, transit taxes or other
Governmental assessments or charges, general, specific, ordinary or extraordinary, foreseen or unforeseen, assessed, levied or imposed upon the Project. If at any 

  
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time during the Term the methods or standards of taxation prevailing at the date hereof shall be altered so that in lieu of, or as an addition to, or as a substitute for the whole or any part of
the Taxes now levied, assessed or imposed, there shall be imposed (a) a tax, assessment, levy, imposition or charge based on the rents received (whether or not wholly or partially as a capital levy or otherwise), or (b) a license fee
measured by the Rent, other tax, levy, imposition, charge or license fee; then all such taxes, assessments, levies, impositions, charges or license fees or the part thereof so measured or based, shall be deemed to be Taxes. The term
“Taxes” shall not include, and Tenant shall not be liable for the payment of any of the following: (i) any tax, levy, assessment, charge or surcharge resulting from the contamination of the Project, the Building and/or the Premises by
Hazardous Substances, (ii) interest or penalties for the late payment or failure to pay real property taxes, and (iii) transfer taxes payable in connection with any sale or other transfer of any interest of Landlord in the Building. 

(o) TRANSFER: Any assignment or transfer of this Lease, any interest therein, or any right or privilege appurtenant thereto, whether by
pledge, hypothecation, encumbrance, operation of law or otherwise; any subletting or licensing of the Premises or any portion thereof; any permission granted to any other person, party or entity to use or occupy the Premises, any portion thereof or
any right or privilege appurtenant thereto; and any agreement to enter into or perform any of the foregoing. As used herein, a “Transfer” shall include a transfer of the stock or other beneficial interest of the Tenant, whether
accomplished by one or more transfers, voluntarily or by operation of law. 
 (p) UNAVOIDABLE DELAYS: Delays resulting from acts of God,
governmental restrictions or guidelines, strikes, labor disturbances, shortages of materials and supplies and from any other causes or events whatsoever beyond Landlord’s or Tenant’s reasonable control. 

(q) Exhibits. The following addendum and exhibits are attached to this Lease and are made part of this Lease: 

EXHIBIT A — The Premises 

EXHIBIT B — Legal Description of the Land 

EXHIBIT C — Rules and Regulation 

EXHIBIT D — Commencement Date Agreement 

EXHIBIT E — Letter of Credit Form 

ARTICLE 2 
 AGREEMENT

 Section 2.1 Lease of Premises. Landlord leases the Premises to Tenant, and Tenant leases the Premises from Landlord,
together with the right to utilize in common with others, for ingress and egress, the common areas of the Project as described in Article 12. Nothing herein contained shall be construed to permit Tenant the use of the roof or exterior walls
of the Building, of the space above or below the Premises or of any parking or other areas adjacent to the Building, except as expressly stated otherwise. 

  
 6 

 ARTICLE 3 

USE 
 Section 3.1
General. (a) The Premises shall be used for general office purposes and for no other purpose. In addition, Tenant may use up to 5,000 square feet of the Premises, in the aggregate, for one (1) or more hardware labs for the research,
testing and prototyping of Tenant’s products in its business of developing mobile software applications and accessories for use in the health and wellness industry, provided and subject to the following conditions: (i) such hardware labs
shall be located at not more than four (4) separate locations in the Premises unless otherwise approved by Landlord in its sole discretion, (ii) the use of such portions of the Premises as hardware labs shall be consistent with office
occupancy and shall not include any manufacturing or production or life science or chemical laboratories; (iii) the use of such portions of the Premises as hardware labs shall not include the use of any Hazardous Substances other than those
normally utilized in connection with typical office occupancy or as provided below; and (iv) Tenant shall not sublease any hardware lab to any sub-tenant separate and apart from a bona fide sublease of office space where the predominant use of
the subleased premises is for office purposes and the subtenant’s use of the hardware lab is ancillary to its use of the balance of the subleased premises for office purposes. Landlord and Tenant recognize that Tenant’s use of the hardware
labs may include Tenant’s use of reasonable amounts of the Hazardous Substances listed on Schedule 3 attached to this Lease and Tenant shall not be considered to be in violation of the foregoing provision by virtue of the use of such
Substances in quantities reasonably necessary for Tenant’s use of the hardware lab for the purposes herein described provided and so long as (1) Tenant’s use, storage, generation and disposition of such Substances shall be in
accordance with and subject to the provisions of Section 9.3 of this Lease, and (2) all flammable Substances will be stored in a fire-proof cabinet in the hardware lab. Landlord reserves the right to require Tenant, at its expense,
to take remedial measures to address any deleterious effects of the use of the Premises, or applicable portion thereof, as hardware labs, including without limitation, to address the presence of such Substances in the Premises or Building,
installing adequate venting and filtration of any smoke, fumes, vapors or odors generated by the use of the Premises, or applicable portion thereof, as a hardware lab and installing one arm extraction system at each soldering station. 

(b) The Premises are leased together with the appurtenances thereto, including the non-exclusive right to use the lobbies, elevators,
stairways and other public portions of the Building, the non-exclusive use of any restrooms on any multi-tenant floors and the exclusive right to use any restrooms on single-tenant floors included within the Premises. Tenant shall not do, nor permit
anything to be done, in or about the Premises which will in any way obstruct or interfere with the rights of other tenants of the Building, or injure or annoy them, or use or allow the Premises to be used for any improper, immoral, unlawful or
objectionable purpose, nor shall Tenant cause, maintain or permit any nuisance in, on or about the Premises or the Building, or commit or suffer to be committed any waste in, on or about the Premises or the Building. 

  
 7 

 Section 3.2 Commercial Facility. The Premises will be used only as a commercial
facility and not as a place of public accommodation as defined by ADA. Tenant shall not offer its goods and services to the general public at the Premises. Landlord hereby advises Tenant that the Demised Premises has not been inspected by a
Certified Access Specialist. 
 Section 3.3 Building Name. Tenant shall not be allowed to use the name of the Building for any
purpose other than as the address of the business to be conducted by Tenant in the Premises. Landlord reserves the right in its sole discretion to change the name of the Building at any time. 

Section 3.4 Signs and Advertising. (a) Tenant shall not inscribe, paint, post, place, or in any manner display any sign,
notice, picture, placard, poster, name or advertising matter anywhere in or about the Building or Premises at places visible (either directly or indirectly as an outline or shadow on or through a glass pane) from outside the Premises. In the event
that Landlord permits any such signs or notices, upon expiration or termination of this Lease, Tenant shall, at its expense, promptly remove all such signs or advertising and shall repair any damage caused by such removal. 

(b) Landlord shall provide Tenant, at Landlord’s cost, one standard sign in each of the common elevator lobbies on the fourth (4th) and fifth (5th) floors of the Building. 

Section 3.5 Smoking Prohibited. Tenant acknowledges that smoking is not permitted within the Project (except in areas specifically
designated as smoking areas) and agrees that it will not allow smoking within the Premises by employees, invitees or visitors. 
 ARTICLE
4 
 THE PREMISES 

Section 4.1 Delivery of Possession. (a) Tenant agrees to accept possession of Suite 400 in its “as-is” condition as
of the Suite 400 Delivery Date, subject to the removal of any personal property therefrom, and further subject to all Building mechanical, electrical, life safety and plumbing systems serving Suite 400 (which does not include any supplemental
air-conditioning systems located in Suite 400) being in good working order and Building standard window coverings in Suite 400 being in good working order. Tenant agrees to accept possession of Suite 550 in its “as-is” condition as of the
Suite 550 Delivery Date, subject to the existing tenant of Suite 550 vacating possession thereof and removing its personal property therefrom and further subject to all Building mechanical, electrical and plumbing systems serving Suite 550 (which
does not include any supplemental air-conditioning systems located in Suite 550) being in good working order and Building standard window coverings in Suite 550 being in good working order. Tenant acknowledges that neither Landlord nor its agents or
employees have made any representations or warranties as to the suitability or fitness of the Premises for the conduct of Tenant’s business or for any other purpose, nor has Landlord or its agents or employees agreed to undertake any
alterations or construct any tenant improvements to the Premises, except as expressly provided in this Lease. Tenant shall have a period of ninety (90) days after the respective Delivery Dates for Suite 400 and Suite 550 to inspect Suite 400
and Suite 550, respectively, and to provide Landlord with Notice within such ninety (90) day period 

  
 8 

 
of any respects in which Suite 400 or Suite 550 have not been delivered to Tenant in the condition required hereunder. Once the Commencement Date and Rent Commencement Date have been established,
the parties shall execute and exchange an agreement (“Commencement Date Agreement”) specifying the Commencement Date, Rent Commencement Date, Expiration Date and any other dates related thereto, which Agreement
shall be in substantially the same form as Exhibit D. Failure to execute such an agreement shall not; however, affect Tenant’s obligations pursuant to this Lease. 

(b) (i) Suite 550 is currently occupied by two (2) occupants-Uber Technologies, Inc. and Studios Architecture, Inc. In the event
Landlord is unable to deliver possession of Suite 550 in the condition required under this Lease on or before April 1, 2014, as such date may be extended by delays caused or consented to by Tenant or Unavoidable Delays (herein, the
“Outside Delivery Date”), then Tenant may, at its option and as its sole remedy, cancel this Lease by giving Notice to Landlord (herein, a “Cancellation Notice”) within thirty
(30) days of the Outside Delivery Date (but before delivery of Suite 550 occurs), TIME OF THE ESSENCE, which Cancellation Notice shall specify a date for the cancellation of this Lease not less than ten (10) days after Landlord’s
receipt of the Cancellation Notice (the “Cancellation Date”). 
 (ii) Should Tenant elect to cancel the Lease
as herein provided, Tenant shall, as a condition to Tenant’s exercise of such cancellation right, simultaneously with the delivery of the Cancellation Notice to Landlord, pay to Landlord, in immediately available funds, the amount of any Tenant
Improvement Allowance previously disbursed by Landlord. If delivery of Suite 550 does not occur by the Cancellation Date for reasons other than delays caused or consented to by Tenant or Unavoidable Delays, then this Lease shall be deemed cancelled
from and after the Cancellation Date, except nothing contained herein shall be deemed to release Landlord or Tenant from any obligations accrued prior to the Cancellation Date or which by their terms survive the expiration or termination of the Term
of this Lease (including without limitation, the provisions of Section 29.10 hereof). Should Tenant exercise its right to cancel this Lease as set forth herein, provided Tenant is not then in default under this Lease and timely surrenders
possession of the Suite 400 to Landlord in the condition required hereunder, Landlord shall upon confirmation thereof, return to Tenant the Security Deposit and any prepaid rent provided to Landlord in accordance with this Lease 

Section 4.2 Early Entry. Tenant shall be permitted early entry into Suite 400 and Suite 550, as applicable, as of the Suite 400
Delivery Date and the Suite 550 Delivery Date, as applicable, but prior to the Suite 400 Commencement Date and the Suite 550 Commencement Date, as applicable, for the purpose of performing Tenant’s Initial Alterations, and installing its
equipment, furniture and equipment. Any such early entry shall be at Tenant’s sole risk and subject to all the terms and provisions of this Lease; provided Tenant shall have no obligation to pay Monthly Rent during such early entry period with
respect to any portion of the Premises as to which the applicable Rent Commencement Date has not yet occurred. 

  
 9 

 Section 4.3 Tenant Improvement Allowance. 

(i) Subject to the terms and conditions hereinafter contained, Landlord agrees to contribute up to the Tenant Improvement Allowance to
Alterations to be performed in the Premises by Tenant to prepare the Premises for Tenant’s occupancy (herein, “Tenant’s Initial Alterations”). Landlord hereby acknowledges and consents to the lay-out of the Premises shown
on the Test-Fit attached hereto as Schedule 1, subject to Tenant submitting detailed plans and specifications for such work to Landlord for its review and approval and Tenant performing all such work in accordance with all
applicable terms and conditions of this Lease. Tenant’s Initial Alterations shall be performed in accordance with all applicable terms and conditions of this Lease, including, without limitation, Articles 15 and 16 hereof and shall be
based upon plans and specifications to be prepared by Tenant’s architect and approved by Landlord. The Tenant Improvement Allowance shall be applicable only to Tenant’s Initial Alterations (including the cost of architectural and
engineering fees) completed prior to the twelve (12) month anniversary of the Suite 550 Delivery Date and, if not fully used by such date shall not be credited against rent or other sums due under the Lease or other Tenant’s renovations to
be performed at a subsequent date. No portion of the Tenant Improvement Allowance shall be applied toward other costs including, without limitation, the cost of personal property, moving expenses, furniture, artwork, interest or late charges. 

(ii) Tenant shall pay to Landlord’s managing agent, Langley Investment Properties, Inc. the “Administration Fee” set forth
below as applied to the “Cost of the Work” (as hereinafter defined) for its administration and coordination of Tenant’s selected contractor’s activities with the Building in connection with Tenant’s Initial Alterations. In
no event, however, shall Landlord or its managing agent be responsible for performance or warranties by Tenant’s contractors, subcontractors (of any tier), engineers or other vendors or for providing any insurance or general conditions, such as
temporary light and power, HVAC, or rubbish removal services, all of which shall be provided solely by Tenant’s contractors, subcontractors, engineers or other vendors. As used herein, the “Cost of the Work” shall mean 

 

	 	(A)	All architectural and engineering fees and expenses (except to the extent already part of the Test-Fit Allowance); 

  

	 	(B)	The sum of all third-party costs incurred in order to construct Tenant’s Initial Alterations and all costs reasonably related thereto; and 

 

	 	(C)	Permits and taxes. 

 The “Administration Fee” shall mean a fee to be computed
relative to the Cost of the Work as follows: 
  

	 	-	For the first $500,000:     3%; 

  

	 	-	For the next $501,000:    2%; and 

  

	 	-	Thereafter:                       1%. 

The Administration Fee shall be payable in monthly installments as the Cost of the Work is incurred. To the extent the Tenant Improvement
Allowance has not yet been fully expended and is available to be disbursed (e.g., is not being held for purposes of retainage), any Administration Fee payable as above provided may, to 

  
 10 

 
the extent not already reflected on such “Requisition”, be added to any Requisition received and shall be paid directly to Landlord’s managing agent out of the Tenant Improvement
Allowance at the time of any “Installment Payment” hereunder (as such quoted terms are hereinafter defined). To the extent the Tenant Improvement Allowance has been fully expended or is not otherwise available to be disbursed, Tenant shall
pay the Administration Fee within ten (10) days of demand, which demand(s) may be made monthly. 
 (iii) Provided there is not then an
Event of Default under this Lease, Landlord shall contribute the Tenant Improvement Allowance to the Cost of the Work as follows: 

(A) Promptly upon completion of the Tenant’s Initial Alterations in the Premises for the preceding calendar month, Tenant
shall submit to Landlord: 
 (1) contractor’s invoices for all work done and all supplies furnished in connection with
the Tenant’s Initial Alterations performed in the Premises in the preceding month; 
 (2) a detailed breakdown of the
aggregate cost of all the Tenant’s Initial Alterations completed to date; 
 (3) certificates from Tenant’s
architect and contractor(s) that (i) the Tenant’s Initial Alterations performed in the Premises in the preceding month have been fully completed; (ii) the Tenant’s Initial Alterations in the Premises were prosecuted in accordance
with the plans and specifications previously approved by Landlord; and (iii) there are no violations or liens pending as a result of any of Tenant’s Initial Alterations.; 

(4) Tenant’s and its architect’s and contractor’s statements of the total Cost of the Work, the Cost of the
Work expended to date and the remaining Cost of the Work yet to be incurred and paid; and 
 (5) Tenant’s request and
approval of Landlord’s payment of the invoices submitted. If Tenant is requesting that Landlord reimburse Tenant for sums already paid by Tenant, Tenant shall also submit to Landlord evidence reasonably satisfactory to Landlord that such sums
have been paid, which may include lien waivers. Such requests may include requests that Landlord reimburse Tenant for up to fifty percent (50%) of the Cost of the Work incurred by Tenant prior to the commencement of Tenant’s Initial
Alterations for items such as architect’s or engineer’s fees or deposits reasonably required, if any, for the ordering of materials in connection with Tenant’s Initial Alterations notwithstanding that Tenant’s Initial Alterations
have not yet commenced. 
 The foregoing items (1) through (5) are herein collectively called a “Requisition”.

  
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 (iv) Within thirty (30) days of Landlord’s receipt of a Requisition for labor, services
or materials, for which Landlord has not previously made an “Installment Payment” (as hereinafter defined), provided there is no Event of Default under Lease, Landlord will reimburse Tenant for sums previously paid by Tenant or, if
requested by Tenant, pay directly to Tenant’s general contractor ninety percent (90%) of Landlord’s pro rata share of such Requisition, which pro rata share shall be computed by dividing the Tenant Improvement Allowance by the total
Cost of the Work, as reflected in the most recent Requisition. Such payment is herein called an “Installment Payment”. The remaining ten percent (10%) of Landlord’s pro rata share of each Requisition shall be paid by
Landlord, as hereinafter provided, directly to Tenant or Tenant’s general contractor as a separate and final Installment Payment upon submission of a final Requisition following completion of all the Tenant’s Initial Alterations in
accordance with all applicable provisions of the Lease. Such final Installment Payment shall be paid within thirty (30) days of (A) the satisfaction of the provisions of sub-paragraph (iii) above for payment of such final
Requisition, except references in said sub-paragraph (iii) to “the preceding month” shall be deemed deleted or to refer to “all Tenant’s Initial Alterations” (or words of similar import), as the context may
require, and (B) the delivery to Landlord of all final governmental approvals required for all the Tenant’s Initial Alterations. 

(v) In no event Landlord be required to disburse or shall Tenant be entitled to any Installment Payment either (x) as long as Tenant
shall be in breach or default of any of the terms, covenants or conditions of the Lease beyond any applicable notice or cure periods, or (y) once Landlord has made Installment Payments aggregating the Tenant Improvement Allowance or
(z) for any of Tenant’s Initial Alterations not completed by the date that is the twelve (12) month anniversary of the Suite 550 Delivery Date. 

(vi) Any sum due or payable to any Tenant’s contractors, subcontractors, engineers or other vendors or suppliers and not required to be
paid by Landlord hereunder shall be paid by Tenant at its sole cost and expense. 
 Section 4.4 Test-Fit Allowance. As used
herein, the “Test-Fit Allowance” shall mean $8,400.00. Landlord’s architect is preparing up to two (2) Test Fits for the Premises and Landlord will pay the invoices of Landlord’s architect up to the amount of the
Test-Fit Allowance for such services in accordance with such contract. The Test-Fit Allowance if not fully used shall not be credited against rent or other sums due under the Lease. 

Section 4.5 (a) Construction of Tenant’s Initial Alterations. The plans and specifications for the Tenant’s Initial
Alterations shall be approved by Landlord (the “TI Plans”) prior to the commencement of construction of the Tenant’s Initial Alterations by Tenant. Landlord shall deliver written notice to Tenant within fifteen (15) days
after Landlord’s receipt of the TI Plans for the Premises which notice shall advise Tenant whether the submitted TI Plans are approved, or are unsatisfactory or incomplete in any respect or whether Landlord requires any additional information
in order to respond to the same. Landlord shall provide a reasonably detailed explanation for any disapproval or request for additional information. If Tenant is advised that the TI Plans are unsatisfactory or incomplete in any respect or Landlord
requires additional information, Tenant shall promptly revise the TI Plans in accordance with such review and submit the revised TI Plans to Landlord addressing Landlord’s response no later than five
(5)

  
 12 

 
business days after Landlord delivers its notice. Landlord shall respond to any such changes, modifications or alterations addressing Landlord’s responses within five (5) business days
of Landlord’s receipt thereof. Once the TI Plans are approved, no changes, modifications or alterations in the TI Plans may be made without the prior written consent of Landlord, which consent may not be unreasonably withheld, conditioned or
delayed with respect to any proposed alterations that are not structural, do not affect any Building systems or areas outside the Premises. If Landlord fails to respond to a request for Landlord’s approval within the fifteen (15) day or
five (5) business day periods set forth above, Tenant may send to Landlord a second notice referring to this Section 4.5(a) and advising Landlord that Landlord has failed to respond to a request for Landlord’s approval to TI
Plans within the fifteen (15) day or five (5) business day periods referred to in this Section 4.5(a) and should Landlord fail to respond to Tenant’s second request in writing within five (5) business days of such
second request, Landlord shall be deemed to have approved such TI Plans. Should Landlord in fact fail to respond in writing to a request for Landlord’s approval complying with the provisions hereof within five (5) business days after
Landlord’s receipt of such second notice, Landlord’s approval to such TI Plans shall be deemed given. 
 (b) A general contractor
(“Contractor”) shall be retained by Tenant to construct the Tenant’s Initial Alterations, which Contractor shall be subject to Landlord’s consent, which consent shall not be unreasonably withheld, conditioned or delayed
provided that such Contractor is a California licensed contractor with a successful track record of constructing first class tenant improvements in first class office buildings, provides the insurance required by this Lease and otherwise agrees to
comply with the applicable provisions of this Lease and such Contractor hires only sub-contractors previously approved by Landlord, which approval will not be unreasonably withheld, conditioned or delayed. The foregoing notwithstanding, Tenant shall
be required to utilize Landlord’s designated sub-contractors for the following items of Tenant’s Initial Alterations: (i) Mechanical, Electrical and Plumbing Engineers, (ii) fire life safety contractor; (iii) Riser, cable
and data management contractor; and (iv) Building Management Systems contractor re: computerized controls. Landlord shall notify Tenant within five (5) business days after Tenant’s request for consent to the Contractor selected by
Tenant and such Contractor’s choice of sub-contractors. If Landlord fails to respond to a request for Landlord’s approval of a contractor or sub-contractor within five (5) business days after Tenant’s request, Tenant may send to
Landlord a second notice referring to this Section 4.5(b) and advising Landlord that Landlord has failed to respond to a request for Landlord’s approval of a contractor or sub-contractor within the five (5) business day period
referred to in this Section 4.5(b) and should Landlord fail to respond to Tenant’s second request in writing within three (3) business days of Landlord’s receipt of such second request, Landlord shall be deemed to have
approved such contractor or sub-contractor. Should Landlord in fact fail to respond in writing to a request for Landlord’s approval of a contractor or sub-contractor complying with the provisions hereof within three (3) business days after
Landlord’s receipt of such second notice, Landlord’s approval of such contractor or sub-contractor shall be deemed given. As of the Lease Date, the sub-contractors listed on Schedule 2 annexed hereto are approved to perform
Alterations in the Building, which Schedule is subject to change by Landlord or its managing agent from time to time. 

  
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 ARTICLE 5 

MONTHLY RENT 

Section 5.1 Monthly Rent. Monthly Rent shall be paid beginning on the Rent Commencement Date and throughout the Term in advance on
or before the first day of each calendar month of the Term. If the Term commences on a day other than the first day of a calendar month or ends on a day other than the last day of a calendar month, then Monthly Rent will be appropriately prorated by
Landlord based on the number of days in such month. Monthly Rent and all Additional Rent will be paid to Landlord, without Notice or demand, and without deduction or offset, in lawful money of the United States of America at 405 Howard LLC –
Rent, MS 310130, P.O. Box 4266, Portland, OR 97208, or to such other address as Landlord may from time to time designate in writing. 

Section 5.2 Late Payments/Uncollected Funds. (a) All sums due Landlord which are past due for a period of ten (10) days
or more shall bear interest on the unpaid portion from their respective due dates until paid at the rate of one and one-half percent (1 1⁄2%) for each
month or part of a month, or if such rate under the circumstances then prevailing shall not be lawful, then at the maximum lawful rate. In addition, if Tenant fails to pay any installment of Monthly Rent or Additional Rent within ten (10) days
of the date when due and payable hereunder, a late charge equal to five percent (5%) of such unpaid amount will be due and payable immediately by Tenant to Landlord. Nothwithstanding the foregoing, Tenant shall not be obligated to pay the
interest charge and/or late penalty fee set forth above with respect to the first time any sum is not paid within the time periods prescribed above in any twelve (12) month period. The foregoing shall be in addition to any other right or remedy
which may be available to Landlord in the event of default by Tenant. The payment of such interest or late charge shall not excuse or cure any default by Tenant pursuant to this Lease. 

(b) Should any check or other payment on account of Rent be returned uncollected for insufficient funds or any other reason, Tenant shall
reimburse Landlord for any fees imposed by Landlord’s financial institution for the return of such check or other payment. 
 ARTICLE
6 
 ADDITIONAL RENT FOR OPERATING EXPENSES 

Section 6.1 General. 

(a) Whenever for any calendar year the “Operating Expenses” (as defined below) exceed the Operating Expenses for the Base Year,
then, effective January 1 of such year, Tenant shall pay as Additional Rent the product of Tenant’s Share multiplied by such excess subject to the provisions of Section 6.2. The first payment of Additional Rent for increases in
Operating Expenses, if any, shall be effective on the First Monthly Rent Adjustment Date set forth in Section 1.1. 
 (b) As
used in this Lease, the term “Operating Expenses” means: 
 (i) All reasonable costs paid, payable, or incurred by
Landlord for the management, operation, and maintenance of the Project, computed in accordance with generally 

  
 14 

 
accepted accounting principles (“GAAP”), including wages, salaries, benefits and compensation employees, and payroll taxes; any gross receipts tax or excise tax levied with
respect to the receipt of rent; consulting, accounting, legal, janitorial, maintenance, security, window washing and other services; management fees (not to exceed market rate management fees for comparable buildings, however in no event shall
management fees exceed 5% of gross operating revenue for the Building) and costs; that part of office rent or rental value of space in the Project used or furnished by Landlord to enhance, manage, operate, and maintain the Project; reasonable
allocation of costs to provide and operate free or discounted visitor parking for the Project; power, water, waste disposal, and other utilities; consumable materials and supplies, tools, and equipment; maintenance and repairs; insurance obtained
with respect to the Project (other than earthquake deductibles which shall be governed by Section 6.1 (f) below); depreciation or rental on personal property and equipment used in the management, operation, or maintenance of the
Project which is or should be capitalized on the books of Landlord except as set forth in subsection (ii) below; and any other costs, charges, and expenses that under generally accepted accounting principles would be regarded as
management, maintenance, and operating expenses. The preceding list is for definitional purposes only and does not impose any obligation to incur such expenses or provide such services. Any services provided by Landlord or any affiliate of Landlord
shall be at rates competitive with prevailing rates for comparable services and projects. 
 (ii) (A) The cost (amortized in
accordance with GAAP) together with interest (at the actual or imputed rate that Landlord would reasonably be required to pay to finance the cost of such capital improvement) on the unamortized balance of any capital improvements that are made to
the Project by Landlord (1) for the purpose of reducing operating expenses (provided that the annual anticipated savings in the component of operating expenses that such capital improvement is intended to reduce are reasonably expected to
exceed the annual amortized cost of such improvement) or (2) after the Lease Date and by requirement of any governmental law, code or regulation (including without limitation the ADA and any provisions of ADA applicable to the Project or any
part thereof as a result of the use, occupancy, or alteration thereof by Landlord) that was not applicable to the Project at the time it was constructed and is not as a result of special requirements for any tenant’s use of the Project or
(B) The cost of any capital items to the extent provided in Section 6.1(f) below. 
 (c) The Operating Expenses will not
include: 
 (i) depreciation on the Project (other than depreciation on personal property, equipment); 

(ii) costs of alterations of space or other improvements made for tenants of the Project; 

(iii) finders’ fees and real estate brokers’ commissions; 

(iv) ground lease payments, mortgage principal or interest; 

(v) items that are or should be capitalized under GAAP other than those referred to in subsection (b)(ii) above or
Section 6.1(f) below; 

  
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 (vi) costs of replacements to personal property and equipment for which depreciation costs are
included as an operating expense; 
 (vii) costs of excess or additional services provided to any tenant in the Building that are directly
billed to such tenants; 
 (viii) the cost of repairs due to casualty or condemnation that are reimbursed by third parties; 

(ix) any cost due to Landlord’s breach of this Lease; 

(x) all costs, including legal fees, relating to activities for the solicitation and execution of leases of space in the Building or disputes
with other tenants of the Building; 
 (xi) any legal fees incurred by Landlord in enforcing its rights under other leases for space in the
Project; 
 (xii) fines, penalties or interest resulting from late payment of Taxes or Operating Expenses, provided however Operating
Expenses shall include fines, penalties or interest that are incurred with respect to Operating Expenses which Landlord disputed in good faith; 

(xiii) advertising and promotional expenses; 

(xiv) Landlord’s charitable and political contributions; 

(xv) costs of purchasing or leasing major sculptures, paintings or other artwork, except as may be required to comply with governmental
restrictions affecting the Building or Project; 
 (xvi) penalties or fines incurred by Landlord due to a violation by Landlord of any legal
requirement building codes, or any other governmental rule or requirement (other than the underlying cost of such compliance itself) and penalties or fines resulting from the negligence or willful misconduct of Landlord or its employees, agents or
contractors; 
 (xvii) reserves; 

(xviii) costs of selling, financing or refinancing the Building; 

(xix) The cost of operating any commercial concession which is operated by Landlord at the Building; 

(xx) Replacement of the structural portions of the roof or exterior walls, foundations, load bearing walls or base building, except as
provided in Section 6.1(f) below; 

  
 16 

 (xxi) Landlord’s general overhead expenses not related to the Building; 

(xxii) Costs of abatement or remediation of Hazardous Substances brought upon, stored, used or disposed of in or about the Building by
Landlord or by a particular tenant or occupant of the Building, except for amounts used in the ordinary course of operating the Building; 

(xxiii) Sums (other than management fees, it being agreed that the management fees included in Operating Expenses are as described in
Section 6.1(b)(i) above) paid to subsidiaries or other affiliates of Landlord for services on or to the Building and/or Premises, but only to the extent that the costs of such services exceed the market rate cost for such services
rendered by unrelated persons or entities of similar skill, competence and experience; and 
 (xxiv) Costs incurred for repairs,
replacements or restoration due to damage caused by earthquake to the extent within the deductible under Landlord’s earthquake insurance policy, except as provided under the provisions of Section 6.1(f) below. 

If, in any calendar year following the Base Year, as defined hereinbelow (a “Subsequent Year”), a new service or category of
expense (e.g., earthquake insurance, concierge services; entry card systems), is included in Operating Expenses which was not included in the Base Year Operating Expenses, then the cost of such new service or category of expense shall be added to
the Base Year Operating Expenses for purposes of determining the Additional Rent payable under this Article 6 for such Subsequent Year. During each Subsequent Year, the same amount shall continue to be included in the computation of Operating
Expenses for the Base Year, with the Subsequent Year’s Operating Expenses including the original charge and any increase in the cost of such new service or category of expense in such Subsequent Year’s Operating Expenses. However, if in
any Subsequent Year thereafter, such new service or category of expense is not included in Operating Expenses, no such addition shall be made to Base Year Operating Expenses 

Conversely, as reasonably determined by Landlord, when a service or category of expense that was originally included in the Base Year
Operating Expenses is, in any Subsequent Year, no longer included in Operating Expenses, then the cost incurred for such service or category of expense in the Base Year shall be deleted from the Base Year Operating Expenses for purposes of
determining the Additional Rent payable under this Article 6 for such Subsequent Year. The same amount shall continue to be deleted from the Base Year Operating Expenses for each Subsequent Year thereafter that the service or category of
expense is not included. However, if such service or category of expense is again included in the 

  
 17 

 
Operating Expenses for any Subsequent Year, then the amount of said service or category of expense originally included in the Base Year Operating Expenses shall again be added back to the Base
Year Operating Expenses. 
 (d) If during any calendar year at least ninety-five percent (95%) of the Project is not provided with full
Building standard services or is not at least ninety-five percent (95%) occupied, in determining Operating Expenses Landlord shall compute all variable Operating Expenses for such calendar year as though ninety-five percent (95%) of the
Project were provided with full Building standard services and were ninety-five percent (95%) occupied. For purposes of this Section, the term variable Operating Expenses shall mean any Operating Expense (or portion thereof) that increases or
decreases with the level of occupancy of the Project. In the event that Operating Expenses do not include any specific costs billed to or otherwise incurred for the particular benefit of specific tenants of the Project, Landlord shall have the right
to increase Operating Expenses by an amount equal to the cost of providing standard services similar to the services for which such excluded specific costs were billed or incurred. 

(e) Tenant acknowledges that Landlord has not made any representation or given Tenant any assurances that any estimate of Operating Expenses
will equal or approximate the actual Operating Expenses for any calendar year or partial calendar year during the Term. 
 (f) The costs for
repairs, or replacements, or restoration necessitated due to damage caused by earthquakes, whether or not such costs are to be capitalized under GAAP, shall be included within Operating Expenses to the extent actually incurred by Landlord in order
to perform and complete such repairs, replacements and restoration and within the deductible under Landlord’s policy of earthquake insurance, but shall only be included on an amortized basis over a one hundred twenty (120) month period
with interest at a fixed rate of eight percent (8%) per annum, provided however no such costs shall be included for the purpose of determining Tenant’s Base Year Operating Expenses, including Base Year Operating Expenses for any renewal
term, but the foregoing shall not relieve Tenant from the obilgation to pay the portion of such costs that may be amortized during the Base Year occurring during any renewal term. Should the Term of this Lease terminate or expire, including without
limitation as a result of Tenant’s exercise of its right to terminate this Lease under Article 19 of this Lease (but other than as a result of Tenant’s default under the provisions of Article 26 of this Lease), before any
such costs are fully amortized, Tenant shall not be responsible for any portion of such costs which are to be amortized after the expiration or termination of the Term of this Lease. 

Section 6.2 Estimated Payments. 

(a) Commencing with the calendar year in which the First Monthly Rent Adjustment Date occurs, Landlord will give Tenant a statement of the
estimated Operating Expense increase, if any, for such calendar year. On or before the first day of each month during each calendar year, Tenant shall pay to Landlord Additional Rent monthly, in advance, an amount equal to 1/12 of the product of
Tenant’s Share multiplied by Landlord’s estimate of the excess of the Operating Expenses for such year over the Operating Expenses for the Base Year. In the month 

  
 18 

 
in each calendar year in which Tenant first makes a payment based upon such estimate, if not January 1st of such year, Tenant shall pay to Landlord or in the case of an overpayment, Landlord
shall credit Tenant, for each month which has elapsed since January 1st the difference, if any, between the Additional Rent based upon such estimate of Operating Expenses and the Additional Rent for Operating Expenses actually paid. 

(b) If at any time or times it reasonably appears to Landlord that the actual Operating Expenses for any calendar year will vary substantially
from the estimated Operating Expenses for such calendar year, Landlord may deliver to Tenant a revised statement of the estimated Operating Expense increase for such calendar year, and subsequent Additional Rent payments by Tenant in such calendar
year will be based upon such revised estimated Operating Expense increase. 
 Section 6.3 Annual Settlement. Within one hundred
twenty (120) days after the end of each calendar year or as soon thereafter as reasonably practicable, Landlord will deliver to Tenant a statement setting forth Tenant’s Share of actual amounts payable under this Article 6 for the
prior calendar year. Such statement will be final and binding upon Landlord and Tenant unless Tenant objects to it in writing to Landlord within one hundred twenty (120) days after delivery to Tenant. If such statement shows an amount owing by
Tenant that is less than the estimated payments previously made by Tenant for such calendar year, the excess will be held by Landlord and credited against the next payment of Rent; however, if the Term has ended and Tenant was not in default at its
end, Landlord will refund the excess to Tenant. Subject to Tenant’s right to object to such statement for the one hundred twenty (120) day period referred to above, acceptance or resolution of the first such statement shall constitute
acceptance of the Operating Expense amount for the Base Year. If such statement shows an amount owing by Tenant that is more than the estimated payments previously made by Tenant for such calendar year, Tenant will pay the deficiency to Landlord
within thirty (30) days after the delivery of such statement. Tenant may review Landlord’s records of the Operating Expenses, at Tenant’s sole cost and expense, at the place Landlord normally maintains such records during
Landlord’s normal business hours upon reasonable advance Notice. If Tenant elects to audit the Annual Statement, and such audit reveals an overstatement by Landlord of six (6%) or more, of the Building Operating Expenses for such year,
then Landlord shall pay the reasonable out-of-pocket cost incurred and paid by Tenant for such audit. 
 Section 6.4 Final
Proration. If this Lease ends on a day other than the last day of a calendar year, the amount of Additional Rent payable by Tenant applicable to the calendar year in which this Lease ends will be calculated on the basis of the number of days of
the Term falling within such calendar year. Tenant’s obligation to pay any deficiency between estimated increase in Operating Expenses and actual increase in Operating Expenses or Landlord’s obligation to refund any overage shall survive
the expiration or other termination of this Lease. 
 Section 6.5 Decrease in Operating Expenses. Notwithstanding anything
contained in this Article, the Monthly Rent payable by Tenant shall in no event be less than the Monthly Rent specified in Section 1.1. 

  
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 Section 6.6 Dispute Resolution. Any dispute regarding the provisions of this Article
shall be resolved by arbitration as provided in Article 28. 
 ARTICLE 7 

ADDITIONAL RENT FOR TAXES 

Section 7.1 Calculation. Tenant shall pay, as Additional Rent, an amount equal to Tenant’s Share of the excess of Taxes due
for each calendar year of the Term over the amount of Taxes due with respect to the Base Year for Taxes. Additional Rent on account of increase in Taxes shall be payable separately in accordance with the provisions of Section 7.4. 

Section 7.2 Adjustment of Taxes. If in the Base Year and/or any subsequent tax year the Project is less than fully assessed, then
the Taxes for such year(s) shall be appropriately adjusted to reflect what the Taxes for such year(s) would have been had the Project been fully assessed. In the event that there are tenants in the Building from time to time that are entitled to
exemptions from Taxes, Taxes for such year(s) shall be appropriately adjusted to reflect the full assessment. Tenant shall only be responsible for Tenant’s Share of such Taxes if Landlord is required to pay the same. 

Section 7.3 Tax Appeal. If, by virtue of any application or proceeding brought by or on behalf of Landlord, there shall be a
reduction of the assessed valuation of the Project for any year, including the Base Year, which affects the Taxes, or part thereof, for which Additional Rent has been paid by Tenant pursuant to this Article, such Additional Rent payment shall be
recomputed on the basis of any such reduction and Landlord will credit against the next accruing installment of Monthly Rent due under this Lease, after receipt by Landlord of a tax refund or credit, any sums paid by Tenant in excess of the
recomputed amounts, less a sum equal to Tenant’s Share of all costs, expenses, and fees, including reasonable attorney’s fees incurred by Landlord in connection with such application or proceeding. 

Section 7.4 Estimated Payments and Annual Settlement. Commencing with the calendar year in which the First Monthly Rent Adjustment
Date occurs, Landlord will give Tenant a statement of the estimated Additional Rent for increases in Taxes for such calendar year. On or before the first day of each month during each such calendar year, Tenant shall pay to Landlord Additional Rent
of one-twelfth (1/12) of the product of Tenant’s Share of such estimated increase. In the month in each calendar year in which Tenant first makes a payment based upon such estimate, if not January 1st of such year, Tenant shall pay to
Landlord for each month which has elapsed since January 1st the difference, if any, between the Additional Rent based upon such estimate and the Additional Rent for Taxes actually paid. After the end of each calendar year, there shall be a
reconciliation of the Additional Rent for Taxes actually due and the total of estimated payments for such Additional Rent, as provided in Section 6.3. 

Section 7.5 Final Proration. Any Additional Rent payable pursuant to this Article for any partial year shall be adjusted in
proportion to the number of days in such partial year during which this Lease is in effect. The obligation of Tenant with respect to any Additional Rent pursuant to this Article applicable to the last fiscal or calendar year of the Term shall
survive the expiration or termination of this Lease. 

  
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 Section 7.6 Decrease in Taxes. Notwithstanding anything contained in this Article,
the Monthly Rent payable by Tenant shall in no event be less than the Monthly Rent specified in Section 1.1. 
 Section 7.7
Dispute Resolution. Any dispute regarding the provisions of this Article shall be resolved by arbitration as provided in Article 28. 

ARTICLE 8 
 INSURANCE

 Section 8.1 Landlord’s Insurance. At all times during the Term, Landlord will carry insurance coverages and amounts
reasonably determined by Landlord, based on coverages carried by prudent owners of comparable buildings in the vicinity of the Project. 

Section 8.2 Certain Insurance Risks. Tenant will not do or permit to be done any act or thing upon the Premises or the Project
which would jeopardize or be in conflict with casualty insurance policies covering the Project or increase the rate of fire or any other insurance applicable to the Project. 

Section 8.3 Tenant’s Insurance. 

(a) During the entire Term, and for so long thereafter as Tenant shall occupy any portion of the Premises, Tenant shall keep in full force and
effect, at its own expense, a policy or policies of: 
 (i) Commercial General Liability insurance, in occurrence form, covering bodily
injury or death to persons and damage to or destruction of property, and including contractual liability coverage for Tenant’s indemnity obligations required by this Lease to afford protection of not less than $2,000,000 per occurrence and
$2,000,000 combined single limit in the aggregate for any one accident. 
 (ii) Worker’s Compensation insurance as required by all
state and/or federal laws. 
 (b) Such policies will be maintained with companies having a “General Policyholders Rating” of at
least A:IX as set forth in the most current issue of “Best’s Insurance Guide,” and will be written as primary policy coverage and not contributing with, or in excess of, any coverage which Landlord shall carry. Tenant shall have the
right to provide the coverages required herein under blanket policies provided that the coverage afforded Landlord shall not be diminished by reason thereof. No more frequently than once every thirty-six (36) months, Landlord shall have the
right to review the provisions of this Article and to require reasonable changes in the amounts or types of insurance, or both, as it may deem reasonably necessary in order to adequately protect its interests. 

Section 8.4 Certificates of Insurance. Tenant shall, prior to the Commencement Date, cause to be delivered to Landlord an original
certificate of insurance providing a minimum of thirty (30) days prior notice of cancellation or reduction in coverage. Renewal certificates shall 

  
 21 

 
be furnished to Landlord at least thirty (30) days prior to the expiration date of each policy. All such certificates shall indicate that Landlord, Landlord’s managing agent and such
additional parties as Landlord shall designate are additional insureds with respect to the Commercial General Liability coverage. 

Section 8.5 Waiver of Subrogation. All property insurance policies carried by either party shall contain a waiver by the insurer
of any rights of subrogation to any cause of action (including negligent acts) against the Tenant or Landlord (as the case may be) and their officers, directors, and employees. Further, each party waives any claim or cause of action against the
other party hereto arising from any loss or damage to property which is covered by such insurance or which could be covered by such insurance if either party self-insures but only insofar as such party is compensated by such insurance for such loss
or damage. 
 Section 8.6 Tenant’s Property. All furnishings, fixtures, equipment and property of every kind and
description of Tenant and of persons claiming by or through Tenant which may be on the Premises shall be at the sole risk and hazard of Tenant and no part of loss or damage thereto for whatever cause is to be charged to or borne by Landlord. 

ARTICLE 9 
 REQUIREMENTS
OF LAW AND ENVIRONMENTAL HAZARDS 
 Section 9.1 General. (a) Landlord shall be responsible for all costs to cause the
restrooms and common areas of the Building serving the Premises to comply with all Legal Requirements, including the ADA, as of the applicable Delivery Date. At its sole cost and expense, Tenant shall promptly comply with all Legal Requirements now
in force or in force after the Delivery Date relating to the condition, use, or occupancy of the Premises, excluding requirements of structural changes to the Premises or Building, unless such structural changes are required by the unique nature of
Tenant’s use or occupancy (including without limitation, the hardware lab referred to in Section 3.1 of this Lease), Tenant’s employee capacity or proposed non-Building standard Alterations. Tenant shall participate in all
Building practice fire drills and Building evacuations and shall prepare and maintain a Fire and Life Safety Plan for its employees and guests. 

(b) In the event that Tenant’s employee capacity or any non-Building standard Alteration proposed to be performed by Tenant or any
proposed use of the Premises, or any portion thereof, for any purpose other than office use (whether or not expressly permitted under this Lease or consented to by Landlord and including without limitation, the hardware lab referred to in
Section 3.1 of this Lease) shall trigger any Legal Requirement that any other repair or Alteration be performed in or to the Premises, Building or Project (herein, the “Triggered Requirement”), then Tenant, at its sole
cost and expense, shall comply with the Triggered Requirement and deliver to Landlord reasonably satisfactory evidence thereof. 

Section 9.2 Americans with Disabilities Act. Tenant shall be responsible for all modifications to the Premises required for
compliance with ADA. 

  
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 Section 9.3 Environmental Hazards. Tenant shall not cause or permit any Hazardous
Substances to be used, stored, generated or disposed of in, on or about the Land, Building or Premises by Tenant, its agents, employees, contractors or invitees, except for such Hazardous Substances as are normally utilized in connection with the
use permitted by this Lease and then only in strict compliance with all applicable Environmental Laws. Any such Hazardous Substances permitted on the Premises, and all containers therefor, shall be used, kept, stored and disposed of in a manner that
complies with all Environmental Laws. Tenant shall indemnify and hold harmless the Landlord from any and all claims, damages, fines, judgments, penalties, costs, expenses or liabilities (including, without limitation, any and all sums paid for
settlement of claims, attorneys’ fees, consultant and expert fees) arising during or after the Term from or in connection with the use, storage, generation or disposal of Hazardous Substances in, on or about the Land, Building or Premises by
Tenant, Tenant’s agents, employees, contractors or invitees. Landlord shall indemnify and hold harmless the Tenant from any and all claims, damages, fines, judgments, penalties, costs, expenses or liabilities (including, without limitation, any
and all sums paid for settlement of claims, attorneys’ fees, consultant and expert fees) in connection with the use, storage, generation or disposal of Hazardous Substances in, on or about the Land, Building or Premises by Landlord,
Landlord’s agents, employees, contractors or invitees. Tenant shall have no liability or responsibility for any remediation costs and/or fees arising from the use, storage, generation or disposal of Hazardous Substances in, on or about the
Land, Building or Premises not otherwise caused by Tenant or its agents, employees, contractors or invitees. Landlord represents to Tenant that (1) to Landlord has received no written notice that there are any environmental conditions affecting
the Premises in violation of Environmental Laws, and (2) to the best of Landlord’s knowledge, there is no asbestos or asbestos-containing materials in the Premises. 

ARTICLE 10 
 ASSIGNMENT
AND SUBLETTING 
 Section 10.1 Consent Required. 

(a) Except as provided in Section 10.4, Tenant shall not enter into or agree to any Transfer without in each case first obtaining
the written consent of Landlord in accordance with the provisions of this Article. Any Transfer without such consent shall be voidable by Landlord, at its sole option and discretion, and shall constitute a default under this Lease. Any consent to
any Transfer which may be given by Landlord shall not constitute a waiver of the provisions of this Article or a release of Tenant from the full performance of the covenants herein contained. 

(b) Upon obtaining a proposed assignee, subtenant or transferee upon terms satisfactory to Tenant, Tenant shall submit to Landlord: (i) a
copy of the fully executed proposed assignment or sublease or other instrument of Transfer; (ii) a description of the nature and character of the business of the proposed assignee or subtenant or transferee; (iii) such financial
information as Landlord may reasonably request, including financial statements, either audited independently or signed by an authorized officer or principal, for the two (2) most recent completed fiscal years of the proposed subtenant or
assignee or transferee (financial statements furnished to Landlord which are not independently audited must be in accordance with GAAP and must include all four (4) GAAP financial statements); and (iv) such other reasonably

  
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available information as Landlord may request. Upon receipt of the items set forth above, Landlord shall have thirty (30) days to (i) elect to recapture the Premises or portion thereof
described in the Tenant’s notice in accordance with Section 10.1(d) below, (ii) consent to the proposed Transfer as provided in the remainder of this Article 10, (iii) not consent to the proposed Transfer
(iv) or request additional information with respect to such Transfer. Should Landlord elect not to consent to the proposed Transfer, Landlord shall provide in writing its reasons for withholding such consent. If Landlord fails to respond to a
request for Landlord’s consent to a Transfer complying with the provisions hereof within thirty (30) days of Landlord’s receipt of the last of the items completing such request, Tenant may send to Landlord a second notice referring to
this Section 10.01 (b) and advising Landlord that Landlord has failed to respond to a request for Landlord’s consent within the thirty (30) day period referred to in this Section 10.01 (b) and should
Landlord fail to respond to Tenant’s second request in writing within seven (7) business days of such second request, Landlord shall be deemed to have consented to such Transfer request. Should Landlord in fact fail to respond in writing
to a request for Landlord’s consent complying with the provisions hereof such second request within seven (7) business days after Landlord’s receipt of such second notice, Landlord’s consent to such Transfer shall be deemed
given. 
 (c) With respect to any request by Tenant for consent from Landlord to any document, Tenant shall submit simultaneously with any
information required hereunder a payment of $1,000.00 as a non-refundable fee for the processing of Tenant’s request. 
 (d) Landlord
shall have the option, to be exercised by giving Notice to Tenant no later than thirty (30) days after receipt by Landlord of all of the information required in the previous paragraph, to cancel and terminate this Lease as of the date proposed
by Tenant for the commencement of such assignment or subletting, either (i) in its entirety, in the case of an assignment or a sublease of seventy-five (75%) percent or more of the total area of the Premises; (ii) that portion of the
Premises that Tenant desires to sublet, as well as the balance of the Premises not previously sublet in the case of any sublease which, together with all other subleases then in effect, totals seventy-five (75%) percent or more of the total
area of the Premises for the remainder of the Term; or (iii) in the case of any other sublease, only as to that portion of the Premises that Tenant desires to sublet. The foregoing notwithstanding, Landlord’s option to cancel and terminate
the Lease set forth above shall not apply to one or more proposed sublease(s) (herein, each a “Tenant Permitted Sublease”), which when taken together, do not aggregate more than thirty-five percent (35%) of the rentable
area of the Premises, provided each such sublease expires not later than forty-eight (48) months after the Suite 550 Commencement Date. Such subleases shall nevertheless remain subject to Landlord’s consent and the remainder of the
provisions of this Article 10. 
 (e) If Landlord does not exercise its options contained in sub-paragraph (d) above
within said thirty (30) day period or said option do not apply, its consent to any such proposed Transfer shall not be withheld or delayed provided that it shall be deemed reasonable for Landlord to withhold its consent (i) if the proposed
assignee or subtenant’s use and character are not in Landlord’s reasonable opinion in keeping with the character of the Building; (ii) if Landlord has not obtained Landlord’s mortgagee’s consent to such Transfer, if
required, provided Landlord acknowledges that mortgagee’s consent shall not be required for any Tenant Permitted 

  
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Sublease; (iii) if Landlord has available for rent comparable or similar space in the Building, Tenant is or has solicited other tenants or occupants of the Building or is subleasing or
assigning to same; (iv) no Transfer shall be to a person or entity which has a financial standing, is of a character, is engaged in business, is of a reputation, or proposes to use any part of the Premises in a manner, not in keeping with the
standards of a first-class office building; (v) such Transfer does not expressly provide that it is subject to all of the obligations of Tenant pursuant to Lease (other than those specific economic and business terms (e.g. rent, term) that are
specifically applicable to such sublease and/or assignment) and that there shall be no further Transfer without such further Transfer again being subject to the provisions of this Article 10; (vi) any such Transfer shall result in there
being more than five (5) occupants other than Tenant in the Premises; (vii) the proposed subtenant or assignee or transferee shall not be a person then negotiating with Landlord for the rental of any space in the Building; and
(viii) the proposed subtenant or assignee or transferee is a governmental agency that, in Landlord’s reasonable judgment, is likely to cause public assembly or “walk-in” traffic not consistent with class “A” office use.

 As a condition of Landlord’s consent, Tenant shall require its subtenant or assignee, as the case may be, to obtain and maintain
throughout the term of any such sublease or assignment the same insurance coverage that Tenant is required to maintain pursuant to Article 8, including providing certificates verifying such coverage and naming Landlord and its managing agent
and such other persons or entities as Landlord may designate as additional insureds and to waive subrogation against the Landlord. Landlord’s consent to any assignment or sublease, if given, shall be evidenced only in a written agreement
provided by Landlord and signed by Landlord, Tenant and its assignee or subtenant, as the case may be. 
 Section 10.2 Tenant’s
Continued Liability. If this Lease shall be assigned, or if the Premises or any part thereof shall be sublet or occupied by any person or persons other than Tenant, Tenant shall continue to be liable for the performance of all the provisions of
this Lease. Landlord may, after default by Tenant, collect rent from the assignee, subtenant or occupant and apply the net amount collected to the Rent herein reserved, but no such assignment, subletting, occupancy or collection of Rent shall be
deemed a waiver of the covenants in this Article 10, nor shall it be deemed acceptance of the assignee, subtenant or occupant as a tenant, or a release of Tenant from the full performance by Tenant of all the terms, conditions and covenants
of this Lease. 
 Section 10.3 Sublease Premium. Tenant shall pay Landlord, as Additional Rent, fifty (50%) percent of the
Sublease Premium derived from any Transfer as and when received, except in the event of a Transfer pursuant to Section 10.4. “Sublease Premium” shall mean all rent, additional rent, and/or other monies, property, and
other consideration of every kind whatsoever received by Tenant from the subtenant, assignee or transferee for, or by reason of, the Transfer (including all amounts received by Tenant for, or attributable to, any personal property included with any
such Transfer, less: (a) commissions actually paid by Tenant to a licensed real estate broker to list and procure the sublease or assignment, amortized over the term of the sublease or assignment, commencing with the date on which the sublease
or assignment term commences; (b) the actual cost of leasehold improvements undertaken by Tenant (subject to Landlord’s consent as provided in this Lease) solely to prepare the subleased space for the subtenant or the Premises for the assignee,
but amortized over the term of the Transfer) commencing with the 

  
 25 

 
date on which the Transfer term commences; (c) Monthly Rent and Additional Rent provided for in this Lease allocable to the space covered by such sublease or assignment and
(d) reasonable out of pocket legal fees paid by Tenant to third parties in connection with such assignment or subletting 

Section 10.4 Affiliate Transfer. Tenant may enter into a Transfer without the Landlord’s consent but with not less than
(10) business days prior Notice to Landlord, to an Affiliate, provided that such Transfer is not for the purpose of avoiding liability pursuant to this Lease and that the net worth of its assignee or transferee is at least equal to the net
worth of Tenant. Tenant shall provide Landlord with a fully executed instrument of Transfer at least ten (10) business days prior to the effective date of such Transfer. “Affiliate” of Tenant means a person or entity
“controlling,” “controlled” by or under common “control” with Tenant, including without limitation any subsidiary or parent company of Tenant. The words “controlling,” “controlled” and
“control” shall have the meanings given them under the Securities Exchange Act of 1934, as amended. Landlord shall not have any right to participate in the profit or terminate this Lease in connection with a sublease or assignment to an
Affiliate in compliance with the provisions of this Section. For purposes of this Section 10.4, the following transactions shall also be deemed to be transactions with an “Affiliate” (a) an assignment of this Lease or a
subletting of all or any portion of the Premises to (i) a corporation resulting from the merger, consolidation or reorganization of Tenant or Tenant’s parent corporation with another corporation, or (ii) to any entity that acquires
all of the assets of Tenant (provided this Lease shall not then consist of all or substantially all of the assets of Tenant), (b) a transfer or issuance of shares of Tenant in connection with any financing provided to or investment made in
Tenant or in conjunction with any merger where the acquiring company acquires all of the shares of Tenant, or (c) the issuance of shares of Tenant on any national securities exchange (as defined in the Securities Exchange Act of 1934, as
amended) or (d) the shareholders of Tenant transferring the shares of Tenant which they hold to each other, to their immediately family members, or to any trust or other estate planning vehicle, or selling or trading the shares of Tenant on any
national securities exchange (as defined in the Securities Exchange Act of 1934, as amended). Any such assignment, sublease or transfer under this Section 10.4 shall nevertheless comply with the remaining terms and conditions set forth
in this Article 10 and shall be entered into for a legitimate business purpose and not to evade or avoid liability or Tenant’s obligations under this Lease. 

Section 10.5 Lease Termination. The voluntary or other surrender of this Lease by Tenant or a mutual cancellation thereof shall
not work a merger, and shall, at the option of Landlord, terminate all or any existing subleases or subtenancies, or may, at the option of Landlord, operate as an assignment to it of any or all such subleases or subtenancies 

Section 10.6 ERISA and UBTI Restrictions. Notwithstanding anything to the contrary contained in this Article 10, no
assignment or subletting by Tenant nor any other transfer or vesting of Tenant’s interest hereunder (whether by merger, operation of law or otherwise) shall be permitted if: 

(a) Landlord, or any person designated by Landlord as having an interest therein, directly or indirectly, controls, is controlled by, or is
under common control with (i) the proposed 

  
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assignee, sublessee or successor-in-interest of Tenant; or (ii) any person which, directly or indirectly, controls, is controlled by or is under common control with, the proposed assignee,
sublessee or successor-in-interest of Tenant; 
 (b) the proposed assignment or sublease (i) provides for a rental or other payments
for the leasing, use, occupancy or utilization of all or any portion of the Premises based, in whole or in part, on the income or profits derived by any person from the property so leased, used, occupied or utilized other than an amount based on a
fixed percentage or percentages of gross receipts or sales, or (ii) does not provide that such assignee or subtenant shall not enter into any lease, sublease, license, concession or other agreement for the use, occupancy or utilization of all
or any portion of the Premises which provides for a rental or other payment for such use, occupancy or utilization based, in whole or in part, on the income or profits derived by any person from the property so leased, used, occupied or utilized
other than an amount based on a fixed percentage or percentages of gross receipts or sales; 
 (c) in the reasonable opinion of Landlord and
Landlord’s counsel, such proposed assignment, subletting or other transfer or vesting of Tenant’s interest hereunder (whether by merger, operation at law or otherwise) will (i) cause a violation of the Employee Retirement Income
Security Act of 1974 by Landlord, or by any person which, directly or indirectly, controls, is controlled by, or is under common control with, Landlord or any person who controls Landlord; or (ii) result or may in the future result in Landlord,
or any person which, directly or indirectly, has an interest in Landlord, receiving “unrelated business taxable income” (as defined in the Internal Revenue Code). 

Section 10.7 Potential Sublease of Additional Space by Tenant from Orrick, Herrington and Sutcliffe, LLP. Landlord and Tenant
acknowledge that Tenant may elect to enter into negotiations for the sublease of approximately eight thousand (8,000) rentable square feet on the 4th floor of the Building (the “Orrick Sublease Space”) from Orrick Herrington
and Sutcliffe, LLC (“Orrick”). Such sublease (the “Orrick Sublease”) shall be subject to Landlord’s approval as provided in the lease in effect between Landlord and Orrick (herein, the “Orrick
Lease”) but Landlord agrees it will not withhold its consent to the Orrick Sublease on the basis set forth in sub-section 10.1 (e)(iii) of this Lease should the Orrick Lease contain a similar provision. Landlord further agrees it
does not object to Tenant, at its sole cost and expense, constructing a staircase (the “Staircase”) from the Premises to the Orrick Sublease Space, provided (i) Orrick consents to the construction of such Staircase,
(ii) Tenant complies with the provisions of Article 15 below with respect to the construction of the Staircase and (iii) Tenant posts security satisfactory to Landlord to provide for the removal of such Staircase at the expiration
of the term of the Orrick Sublease, which security shall not be less than 150% of the current cost estimated by Landlord to remove the Staircase and perform necessary restoration work, which cost is to be escalated for inflation at the rate of
3% per year on a compounded basis. 

  
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 ARTICLE 11 

RULES AND REGULATIONS 

Tenant and its employees, agents, licensees, and visitors will at all times observe faithfully, and comply strictly with, the rules and
regulations set forth in Exhibit C. Landlord may from time to time reasonably amend, delete, or modify existing rules and regulations, or adopt reasonable new rules and regulations so long as Tenant’s rights under this Lease are not
materially and adversely affected or materially and adversely impaired. In the event of any breach of any rules or regulations, Landlord will have all remedies that this Lease provides for default by Tenant, and in addition to any remedies available
at law or in equity, including the right to enjoin any breach of such rules and regulations. Landlord will not be liable to Tenant for violation of such rules and regulations by any other tenant, its employees, agents, visitors, or licensees or any
other person. In the event of any conflict between the provisions of this Lease and the rules and regulations, the provisions of this Lease will govern. 

ARTICLE 12 
 COMMON AREAS

 As used in this Lease, the term “common areas” means the hallways, entryways, stairs, lobbies, elevators, driveways,
walkways, terraces, docks, loading areas, restrooms, trash facilities, and all other areas and facilities in the Project that are provided and designated from time to time by Landlord for the general nonexclusive use and convenience of Landlord,
tenants of the Project, their employees, invitees, licensees, and other visitors. Without advance Notice to Tenant, but without any liability to Tenant in any respect (provided Landlord will take no action permitted under this Article in such a
manner as to materially impair or adversely affect Tenant’s substantial benefit and enjoyment of the Premises or access thereto), and, except in the case of an emergency, Landlord will provide Tenant’s representative in the Premises with
reasonable advance notice (which notice may be telephonic, by email or by posting in the Building), of any such action which will adversely affect Tenant, Landlord shall have the right to: 

(a) Close off any of the common areas to whatever extent required in the opinion of Landlord to prevent a dedication of any of the common
areas or the accrual of any rights by any person or the public to the common areas; 
 (b) Temporarily close any of the common areas for
maintenance, alteration, or improvement purposes; and 
 (c) Change the size, use, shape, or nature of any such common areas, including
erecting additional buildings on the common areas, expanding the existing Building or other buildings to cover a portion of the common areas, converting common areas to a portion of the Building or other buildings, or converting any portion of the
Building (excluding the Premises) or other buildings to common areas. Upon erection of any additional buildings or change in common areas, the portion of the Project upon which buildings or structures have been erected will no longer be deemed to be
a part of the common areas. In the event of any such changes in the size or use of the Building or common areas of the Building or Project, Landlord will make an appropriate adjustment in the rentable area of the Building or the Building’s pro
rata share of exterior common areas of the Project, as appropriate, and a corresponding adjustment to Tenant’s Share; provided however, in no event shall Tenant’s Share increase as a result thereof. 

  
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 ARTICLE 13 

LANDLORD’S SERVICES 

Section 13.1 Landlord’s Repair and Maintenance. Landlord will as a cost of operation maintain, repair and restore the common
areas of the Project and public restrooms, the exterior windows in the Building, the mechanical, plumbing and electrical equipment serving the Building, and the structure of the Building (including, but not limited to, slabs, foundations and load
bearing walls) in reasonably good order and condition. Such costs shall be included in Operating Expenses as and to the extent provided in Article 6 hereof. Any damage occasioned by Tenant (or Tenant’s employees, agents, contractors,
licensees, invitees, customers or clients) shall be repaired by Landlord at Tenant’s expense. Tenant agrees to notify Landlord of necessity for any repairs of which Tenant may have knowledge and for which Landlord may be responsible under the
provisions of this Section. 
 Section 13.2 Landlord’s Other Services. Landlord shall furnish the Premises with the
following services: 
 (a) Electricity sufficient to provide power for “normal office use” as reasonably determined by Landlord
which is defined as electrical power sufficient for Building standard lighting and low wattage office equipment, and excluding electrical power required for electronic data processing equipment, computer rooms, special lighting in excess of Building
standard lighting, or any other item of electrical equipment which (individually) consumes more than 1.8 kilowatts at rated capacity or which requires a voltage other than 120 volts single phase. If Tenant installs equipment requiring power in
excess of that required for normal office use as determined by Landlord, Tenant shall pay to Landlord upon billing for the cost of such excess power as Additional Rent, together with the cost of installing any additional risers, submeters or other
facilities that may be necessary to furnish and/or measure the use of such excess power to the Premises. Tenant shall notify Landlord in writing of any need for any excess power usage. If Tenant fails to deliver such notice to Landlord, such excess
power usage shall be deemed to have commenced on the first day of occupancy of the Premises by Tenant. 
 (b) Heat, ventilation, and air
conditioning (HVAC) to the extent reasonably required to provide a standard of comfort customary in other comparable buildings in the area (“Building Standard HVAC”), during reasonable and usual business hours of 8:00 a.m. to 6:00
p.m., exclusive of Saturdays, Sundays, and state and national holidays (“Building Standard Hours”), or such shorter period specified or prescribed by any applicable policies or regulations adopted by any utility or government
agency. If Tenant desires Building Standard HVAC before or after Building Standard Hours, Tenant shall request such service in advance, and Landlord shall provide such service, at the then current hourly rate charged to other tenants in the
Building, Tenant shall pay such charges as Additional Rent within ten (10) days of receipt of invoice. Landlord’s current charges as of the Lease Date for Building Standard HVAC after Building Standard Hours are as follows: Fan only -
$55.00 per hour; HVAC - $150.00 per hour plus applicable charges for Building engineers. Such charges are subject to change from time to time 

  
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and may include minimum required hours for Building engineers. If Tenant’s equipment or office machines require additional air conditioning capacity above that provided by Landlord as
Building standard or during other than Building Standard Hours, such additional air conditioning installation and operating costs shall be paid by Tenant. Tenant shall not, without Landlord’s prior written consent, use heat generating machines
or equipment or lighting other than Building standard lights in the Premises which affect the temperature otherwise maintained by the Building air conditioning system. If such consent is given, Landlord shall have the right to install supplementary
air conditioning units servicing the Premises, and the cost thereof, including the cost of installation and the cost of operation and maintenance thereof, shall be paid by Tenant to Landlord as Additional Rent. 

(c) Public elevator service and a freight elevator serving the floors on which the Premises are situated, during hours designated by Landlord,
provided, however, that there shall always be available at least one public elevator supplying access to the Premises twenty-four (24) hours each day, seven (7) days per week, subject to any Building security requirements, maintenance, the
effects of emergencies, any interruption of utility services, and the effects of mechanical breakdowns or any damage to, or destruction of, the Building of Building systems. 

(d) Janitorial service five (5) days per week, excluding holidays; provided, however that if Tenant improvements are not consistent in
quality and/or quantity with Building standard improvements and therefore require special cleaning or janitorial services, Tenant shall pay any cleaning and janitorial costs attributable to such special services. Tenant shall comply with all Legal
Requirements and Landlord’s then current sustainability practices relating to the handling, sorting, separation and/or recycling of all refuse, waste and rubbish. 

(e) As of the Suite 400 Delivery Date, there is a Building lobby attendant present 24 hours per day, 7 days per week, 52 weeks per year, but
Landlord does not covenant to maintain such attendant throughout the Term of this Lease. 
 Section 13.3 Conduit Use. If there
is no Event of Default under this Lease Tenant may request the ability, at its sole cost, risk and expense, and, subject to availability, Landlord will not unreasonably withhold its consent to Tenant, to use a reasonable portion of Building shafts,
risers and conduits to be designated by Landlord between the Premises and other parts of the Building. Tenant’s access to and use of such shafts, risers and conduits shall be subject to the terms and conditions hereinafter contained. 

(a) Such shafts, risers and conduits shall be used solely to provide telecommunications services to the Premises in connection with the
conduct of Tenant’s business in the Premises and for no other purpose. 
 (b) Such shafts, risers and/or conduits shall be used by
Tenant in common with others on a non-exclusive basis and Tenant shall cooperate with and not interfere with the use of such shafts, risers and/or conduits by others. If Tenant or its employees, designees, contractors or other service providers
shall damage, violate or interfere with any such shafts, risers and/or conduits or the use thereof by others or their equipment or cabling or other equipment contained therein, Tenant shall, upon demand, correct and /or cure the same at its expense.

  
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 (c) All of Tenant’s installations and Alterations proposed in connection with the use of
such shafts, risers and/or conduits shall be subject to all applicable provisions of this Lease, including, without limitation, the requirement that Tenant obtain Landlord’s separate consent thereto and perform any related installations or
Alterations at its sole cost and expense and otherwise in accordance with Article 15 hereof. Landlord may require Tenant to utilize Landlord’s riser management firm for installations or Alterations affecting such shafts, conduits and/or
risers, provided the charges of such firm are reasonably competitive. 
 (d) For purposes of this Lease, all installations within any such
shafts, risers and/or conduits shall constitute personal property of the Tenant. Landlord shall have no obligation to provide any services, maintenance, repairs or restoration to or for any of Tenant’s installations within or related to
Tenant’s use of any such shafts, risers and/or conduits, and Tenant shall, at its sole risk, cost and expense, maintain and repair (including necessary replacements or restorations) all such installations in good and safe working order and
condition and provide all insurance for the same. 
 (e) Prior to the expiration or termination of this Lease, Tenant shall, at its sole
cost and expense, remove all installations and Alterations within or affecting any such shafts, risers and/or conduits, including without limitation, all cabling, runways, piping, sleds and dunnage and restore such shafts, risers and/or conduits to
the condition prior to the installation of any of Tenant’s installations. Tenant’s removal and restoration obligation shall survive the termination and/or expiration of this Lease. 

Section 13.4 Manufacturer’s Warranty. In the event any special equipment or appliance is installed by Landlord in the
Premises, whether during initial build-out for Tenant, or at any time subsequent to the Commencement Date, such equipment or appliance shall be covered only by the manufacturer’s warranty. After the original warranty period on said equipment or
appliance has expired, the servicing, maintenance, repair, or replacement of said equipment or appliance shall be the sole responsibility and expense of Tenant throughout the remainder of the Term and any extensions thereof. 

Section 13.5 Limitation on Liability. (a) Landlord shall not be in default hereunder or be liable for any damages directly or
indirectly resulting from, nor shall the Rent herein reserved be abated by reason of (i) the installation, use or interruption of use of any equipment in connection with the furnishing of any of the foregoing services; (ii) 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 Landlord or by the making of necessary repairs or improvements to the Premises or to the Building; or
(iii) the limitation, curtailment, rationing or restrictions on use of water, electricity, gas or any other form of energy serving the Premises or the Building. Landlord shall use reasonable efforts to remedy any interruption in the furnishing
of such services. 
 (b) Notwithstanding the foregoing, if (for reasons other than condemnation or casualty which are governed by the
provisions of Articles 18 and 19, respectively) Landlord fails to provide any “Essential Service” (as hereinafter defined) which Landlord is obligated to perform or provide under this Lease and, as a result thereof, Tenant shall be
not able to use and shall have 

  
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discontinued its occupancy of all or any portion of the Premises for a period of five (5) consecutive business days or more after Notice thereof to Landlord specifying such failure and
stating that Tenant intends to exercise its rights under this Section 13.5(b), then Tenant shall be entitled to an abatement of Monthly Rent allocable to such portion of the Premises which is not usable and is unoccupied for each day
from and after said five (5) consecutive business day period until the earlier to occur of such Essential Service being restored by Landlord or such portion of the Premises is again occupied by Tenant. As used herein, “Essential
Service” means any of the following: heating or air-conditioning (as required in this Article 13), office electricity to be provided by Landlord as and to the extent provided under this Article 13 and elevator service. The
abatement provided for in this subsection shall not apply to any discontinuance of an Essential Service caused by casualty, condemnation or force majeure. The foregoing notwithstanding, Tenant shall not be entitled to an abatement of such Monthly
Rent so long as or in the event that such failure results from: (i) any installation, alteration or improvement performed or condition created on behalf of Tenant or its agents, employees, contractors, subtenants or invitees; (ii) Tenant
shall be in default or fail to perform its obligations under this Lease after the expiration of applicable notice and cure periods; (iii) the negligence or tortuous conduct of Tenant, its agents, employees, contractors, subtenants or invitees;
or (iv) Unavoidable Delays. 
 ARTICLE 14 

TENANT’S CARE OF THE PREMISES 

Tenant will maintain the Premises in the same condition existing at the time they were delivered to Tenant, reasonable wear and tear, casualty
and condemnation excluded. Tenant shall also be responsible for the maintenance of Tenant’s equipment, personal property, and trade fixtures located in the Premises and any special equipment, such as supplemental air conditioning units,
installed at Tenant’s request. Tenant will immediately advise Landlord of any damage to the Premises or the Project. All damage or injury to the Premises or the Project that is caused by Tenant, its agents, employees, or invitees may be
repaired, restored, or replaced by Landlord, at the expense of Tenant. The cost of any such repairs plus fifteen (15%) percent of such expense for Landlord’s overhead shall be Additional Rent and will be paid by Tenant within ten
(10) days after delivery of a statement for such expense. Landlord has no obligation and has made no promise to alter, remodel, improve, repair, decorate or paint the Premises or any part thereof, except as may be specified in Article 4.
No representations respecting the condition of the Premises or the Project have been made by or on behalf of Landlord to Tenant, except as specifically set forth in this Lease. 

ARTICLE 15 
 ALTERATIONS

 Section 15.1 General. 

(a) Tenant will not make or allow to be made any alterations, additions, or improvements to or of the Premises, or attach any fixtures or
equipment to the Premises (an 

  
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“Alteration”), without first obtaining Landlord’s written consent. Alterations of a purely cosmetic nature, such as painting or wallpapering, and which do not require a
building permit or other governmental authorizations shall not require Landlord’s approval, but shall be subject to Tenant complying with all other applicable provisions of this Lease and this Article 15 (other than the requirements of
sub-sections (i) and (iv) below), including without limitation the requirement that Tenant give prior Notice of such changes to Landlord in order that Landlord can confirm that such changes are truly cosmetic in nature. Landlord further
agrees that it will not require payment of the construction management fee referred to in sub-paragraph (b) below for cosmetic alterations being performed at any one time (or contemporaneously) costing $50,000 or less in the aggregate.
Prior to commencing any Alterations, Tenant shall furnish to Landlord: 
 (i) Copies of all governmental permits and authorizations which
may be required in connection with such Alteration; 
 (ii) A certificate evidencing that Tenant or its contractors have procured general
liability and worker’s compensation insurance including without limitation contractors’ protective, blanket contractual and completed operations coverages, with limits satisfactory to the Landlord; 

(iii) Such additional bodily injury and property damage insurance (over and above the insurance required to be carried by Tenant pursuant to
the provisions of Article 8) as Landlord may reasonably require because of the nature of the work to be done by Tenant; and 
 (iv)
Plans and specifications for such Alterations. 
 (b) If Landlord reasonably determines that the services of architects or engineers or
other professionals are reasonably required in order to review Tenant’s plans for any Alterations, the fees charged by such professionals shall similarly be paid by Tenant. In addition, Tenant shall pay to Landlord or its managing agent a
construction management fee of three percent (3%) of the cost of any Alterations for coordinating access to the Building and Building services in connection with such Alterations. All such fees and charges shall be deemed Additional Rent and
shall be paid within ten (10) days of Tenant’s receipt of an invoice for such services. Neither Landlord’s or its managing agent’s review of any plans or specifications, providing any such coordination services or consent to any
Alterations shall create any responsibility or liability on the part of Landlord or its managing agent for the completeness, design sufficiency, or compliance with Legal Requirements or create any guaranty or warranty with respect to such
Alterations. All such Alterations: 
 (i) will be performed by contractors reasonably approved by Landlord and subject to conditions
specified by Landlord (which may include requiring the posting of a mechanic’s or insurance construction lien bond); 
 (ii) shall,
when completed, be of such a character as not to lessen the value of the Premises; 
 (iii) shall conform to applicable Building codes and
shall be approved by any and all governmental, quasi-governmental or utility authority having jurisdiction; 

  
 33 

 (iv) shall be performed promptly in accordance with the plans and specifications, in a good
workmanlike manner and in full compliance with all applicable permits, authorizations, building and zoning laws and the Building Rules in effect at such time; and 

(v) shall be located entirely within the Premises and performed in such a manner so as not to interfere with any other tenant in the Project
or impose any additional expense upon Landlord in the maintenance or operation of the Project unless Tenant agrees, in writing, on terms and conditions satisfactory to Landlord to be solely responsible for all such additional expense. 

(c) Subject to Tenant’s rights and obligations in Section 17.1, all Alterations made in or upon the Premises either by Tenant
or Landlord, will immediately become Landlord’s property and at the end of the Term will remain on the Premises without compensation to Tenant, provided, however (i) Landlord at its option may require Tenant to remove any or all
Alterations upon expiration or earlier termination of the Lease and (ii) Landlord shall not require the removal of Tenant’s Initial Alterations to the Premises, except for such improvements as are in Landlord’s opinion not standard
office installations, such as private bathrooms, exercise facilities, internal staircases and the hardware lab referred to in Section 3.1 hereof. Landlord shall indicate in its approval of the plans for any Alterations, including
Tenant’s Initial Alterations, which Alterations or improvements are to be removed pursuant to this Section. 
 (d) Landlord shall not
be liable for any failure of any Building facilities or services caused by any Alterations. Tenant shall pay the cost of correcting any such faulty installation as Additional Rent unless caused by improper or defective work performed by Landlord or
its contractor. 
 (e) In the event Tenant installs any equipment which generates noise or vibration exceeding levels typically generated by
standard office equipment, as reasonably determined by Landlord, whether or not previously approved by Landlord, Landlord reserves the right to require Tenant to (i) provide and maintain, at Tenant’s sole cost and expense, noise/vibration
suppressing equipment for all such equipment; and (ii) remove any and all equipment that creates noise and/or vibrations that disturb other tenants of the Building. 

Section 15.2 Free-Standing Partitions. Tenant will have the right to install or relocate free-standing work station partitions,
without Landlord’s prior written consent, so long as no building or other governmental permit is required for their installation or relocation. However, if a permit is required, Tenant shall not install or relocate such partitions without
Landlord’s prior written consent, which shall not be unreasonably withheld. The free-standing work station partitions which are paid for by Tenant will be part of Tenant’s trade fixtures for all purposes under this Lease. All other
partitions installed in the Premises are and will be Landlord’s property for all purposes under this Lease. 

  
 34 

 ARTICLE 16 

CONSTRUCTION LIENS 
 Tenant
will pay or cause to be paid all costs and charges for all work done by Tenant or caused to be done by Tenant, in or to the Premises, and for all materials furnished for, or in connection with, such work. Tenant will indemnify Landlord against and
hold Landlord harmless of and from all construction liens and claims of liens, and all other liabilities on account of such work by or on behalf of Tenant, other than work performed by Landlord. If any such lien, at any time, is filed against any
part of the Project, Tenant will cause such lien to be discharged of record within ten (10) days. If Tenant fails to pay any charge for which a construction lien has been filed, or has not complied with such statutory procedures as may be
available to release the lien, Landlord may, at its option, pay such charge and related costs and interest without inquiring into the validity thereof. The amount so paid, together with reasonable attorneys’ fees incurred, will be immediately
due from Tenant to Landlord as Additional Rent. Nothing contained in this Lease will be deemed the consent or agreement of Landlord to subject Landlord’s interest in the Project to liability under any construction or other lien law. If Tenant
receives Notice that a lien has been or is about to be filed against the Premises or the Project, or that any action affecting title to the Project has been commenced on account of work done by, or for, or materials furnished to, or for, Tenant, it
will immediately give Landlord Notice of such lien notice. At least fifteen (15) days prior to the commencement of any work in or to the Premises, Tenant will give Landlord Notice of the proposed work and the names and addresses of the persons
supplying labor and materials for the proposed work. Landlord will have the right to post notices of non-responsibility or similar notices on the Premises in order to protect the Premises against any such liens. 

ARTICLE 17 
 END OF TERM

 Section 17.1 Surrender of Premises. Upon the expiration of the Term or earlier termination of this Lease, Tenant will
deliver all keys to Landlord and promptly quit and surrender the Premises broom clean, in good order and repair, ordinary wear and tear excepted, and further excepting damage by casualty or condemnation except damage by casualty shall be excepted
only to the extent of Landlord’s obligation to repair or restore damage by casualty under this Lease. Tenant, at its sole expense, shall remove such Alterations as Landlord has requested in accordance with Article 15, and all of its
computer, data, telephone and security equipment including all computer, data, telephone and security wiring and cables in the plenum and the walls. Tenant will fully repair any damage occasioned by the removal of any trade fixtures, equipment,
furniture or Alterations. All trade fixtures, equipment, furniture, effects and Alterations remaining on the Premises after the expiration or termination of this Lease will be deemed conclusively to have been abandoned and may be appropriated, sold,
stored, destroyed, or otherwise disposed of by Landlord in a commercially reasonable manner without Notice to Tenant or any other person and without obligation to account for them. Notwithstanding the foregoing provisions of this Article if Tenant
has failed to surrender the Premises in the condition required hereunder, Landlord at its option may perform all or a portion of removals and repairs required of Tenant hereunder, for Tenant’s account, and Tenant will reimburse Landlord for the
costs of doing so (including fifteen (15%) percent for Landlord’s overhead and profit) within ten (10) days after receipt of a statement of such cost. 

  
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 Section 17.2 Holding Over. 

(a) If Tenant fails to vacate the Premises after the expiration of the Term, such holding over shall be construed as a tenancy from
month-to-month, subject to all the conditions, provisions and obligations of this Lease as existed during the last month of the Term hereof, so far as applicable to a month-to-month tenancy except that the Rent shall be the greater of an amount
equal to one hundred fifty (150%) percent of the greater of (i) the Rent in effect immediately prior to the expiration (or sooner termination) of the Lease; or (ii) the current market rent. The foregoing notwithstanding, the parties
agree that the Rent for the first thirty (30) day period that Tenant holds over in occupancy after the expiration (or sooner termination) of the Term shall be in an amount equal to one hundred twenty-five percent (125%) of the Rent in
effect immediately prior to the expiration (or sooner termination) of the Lease. None of the foregoing payments shall serve to extend or renew the Term. 

(b) Failure of Tenant to remove any Alterations or any substantial amount of furniture, furnishings, or trade fixtures which Tenant is
required to remove under this Lease shall constitute a failure to vacate. 
 (c) Notwithstanding the foregoing, Landlord may evict Tenant
from the Premises and recover damages including consequential damages caused by wrongful holdover. 
 Section 17.3 Survivorship.
The provisions of this Article shall survive the expiration or sooner termination of this Lease. 
 ARTICLE 18 

EMINENT DOMAIN 
 If all or
any part of the Premises shall be taken or conveyed as a result of the exercise of the power of eminent domain or under threat of the exercise of such power, this Lease shall terminate as to the part so taken as of the date of taking. In the case of
a partial taking, either Landlord or Tenant shall have the right to terminate this Lease as to the balance of the Premises by Notice to the other within thirty (30) days after such date; provided, however, that a condition to the exercise by
Tenant of such right to terminate shall be that the portion of the Premises taken or conveyed shall be of such extent and nature as substantially to impede or impair Tenant’s use of the balance of the Premises. In the event of any taking,
Landlord shall be entitled to any and all compensation, damages, income, rent awards or any interest therein whatsoever which may be paid or made in connection therewith. Tenant shall have no claim against Landlord for the value of any unexpired
Term or any other value whatsoever; provided however, Tenant shall be entitled to any and all compensation, damages, income, rent or awards paid for, or on account of, Tenant’s moving expenses, trade fixtures and equipment; provided same does
not reduce Landlord’s award. In the event of a taking of the Premises which does not result in a termination of this Lease, Rent will be abated in the proportion of the rentable area of the Premises so taken to the rentable area of the Premises
immediately before such taking, and Tenant’s Share will be 

  
 36 

 
appropriately recalculated. Tenant agrees that its rights to terminate this Lease due a partial taking are governed by this Article 18. Tenant waives all rights it may have under
California Code of Civil Procedure §1265.130, or otherwise, to terminate this Lease based on a partial taking. 
 ARTICLE 19 

DAMAGE AND DESTRUCTION 

Section 19.1 Repair. If the Premises or the Building are damaged by fire or other casualty, Landlord shall forthwith repair the
same subject to Unavoidable Delays and adjustment of insurance claims, subject to the provisions of this Article, provided such repairs can, in Landlord’s opinion, be made within one hundred eighty (180) days, and this Lease shall remain
in full force and effect. 
 Section 19.2 Option to Repair or Terminate. If such repairs cannot, in Landlord’s reasonable
opinion, be made within one hundred eighty (180) days, Landlord, at its option, shall, by Notice to Tenant within thirty (30) days after the date of such fire or other casualty, either (a) elect to repair or restore such damage
subject to Unavoidable Delays and adjustment of insurance claim, with this Lease continuing in full force and effect; or (b) terminate this Lease as of a date specified in the Notice. Should a “Major End of Lease Casualty” occur then
Tenant shall have an option to terminate this Lease by Notice to Landlord given within thirty (30) days after the date of such Major End of Lease Casualty. As used herein, a “Major End of Lease Casualty” shall mean a
fire or other casualty which damages the Premises in the last twelve (12) months of the Term of this Lease where (a) Tenant has not exercised any option (should it have any) to extend or renew the Term of this Lease, and (b) the
repairs cannot be made, in Landlord’s reasonable opinion, within the lesser of (i) one hundred eighty (180) days or (ii) the remainder of the Term of the Lease. 

Section 19.3 Rent Abatement. If such fire or other casualty shall have damaged the Premises or common areas necessary to
Tenant’s occupancy and if such damage is not the result of the willful misconduct of Tenant or Tenant’s employees or invitees, then during the period the Premises are rendered unusable by such damage, Tenant shall be entitled to a
reduction in Rent in the proportion that the rentable area of the Premises rendered unusable by such damage bears to the total rentable area of the Premises. 

Section 19.4 The provisions of this Lease, including those in this Article 19, constitute an express agreement between Landlord
and Tenant that applies in the event of any casualty to the Premises. Tenant, therefore, fully waives the provisions of any statute or regulation, including California Civil Code §19322(2) and §1933(4), or any successor statute, relating
to any rights or obligations concerning a casualty. 
 Section 19.5 In the event of any fire or other casualty affecting all or any
part of the Premises, Landlord shall send Tenant a Notice containing Landlord’s reasonably estimated length of time needed to substantially complete the restoration thereof, and if such estimate shall exceed nine (9) months, then Tenant,
as its sole remedy, shall have the right, exercisable by Notice to Landlord given on or before the thirtieth (30th) day after Tenant’s receipt of such Notice to terminate this Lease
effective on a date specified in Tenant’s Notice but in no event less than thirty (30) days after the date of such Tenant’s Notice. 

  
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 ARTICLE 20 

SUBORDINATION 

Section 20.1 General. This Lease and all of Tenant’s rights hereunder shall be subject and subordinate to any mortgage, deed
of trust or other security instrument now or hereafter affecting all or any portion of the Project (including, without limitation, the Deed of Trust dated as of July 31, 2007, between Landlord, as grantor, Fidelity National Title Insurance
Company, as trustee, and Metropolitan Life Insurance Company, as beneficiary (herein referred to as the “Deed of Trust”) and to all renewals, modifications, consolidations, replacements and extensions thereof (herein referred
to as “Security Documents”), to any and all advances secured by any Security Document (including, without limitation, any additional advances made in connection with the Deed of Trust) and to all of the rights of the holders of any
Security Documents. The foregoing subordination shall be self-operative and no further instrument of subordination need be obtained by any holder of a Security Document, provided, however, that upon such holder’s request, Tenant shall promptly
execute and deliver an instrument reasonably acceptable to Tenant prepared by such holder evidencing and confirming such subordination. Notwithstanding the foregoing, if the holder of a Security Document shall elect to have this Lease be superior to
the lien of such Security Document, this Lease shall be deemed to be superior to such Security Document upon the giving of Notice to such effect by such holder to Tenant, irrespective of the relative dates of execution of this Lease and such
Security Document or the recordation of either. 
 Section 20.2 Attornment. In the event the holder of any Security Document (or
any other person or entity) shall come into possession of or acquire title to the Project as a result of the enforcement or foreclosure (judicial or nonjudicial) of such Security Document, or by means of the delivery to such holder (or to such other
person or entity) of a deed-in-lieu of foreclosure or as a result of any other means, or in the event that Landlord’s estate in such real property is conveyed or passes to a person or entity by operation of law or any other means (such holder,
and any other such person or entity, so coming into possession of or acquiring title to such real property being sometimes collectively referred to herein in such capacity as a “Successor Owner”), then in any of said events
Tenant shall, at the election and upon the request of such Successor Owner, attorn to such Successor Owner as its landlord under this Lease. The foregoing attornment requirement shall be self-operative upon any such request of a Successor Owner
without the execution of any further instruments on the part of any of the parties hereto immediately upon the Successor Owner coming into possession of, or acquiring title to, the Project. Tenant agrees, however, upon demand of such Successor
Owner, to execute an instrument reasonably acceptable to Tenant in confirmation of the foregoing provisions prepared by such Successor Owner. Upon such attornment, Tenant shall be bound to the Successor Owner under all of the terms, covenants and
conditions of the Lease for the balance of the Term and any extensions or renewals thereof (if any) which may be effected in accordance with any option set forth in this Lease, with the same force and effect as if the Successor Owner were the
Landlord under this Lease, except that in such case neither the holder of the related Security Document nor the Successor Owner shall: (i) be liable for any act, omission or default of any 

  
 38 

 
prior landlord under this Lease (including, without limitation, Landlord); or (ii) be subject to any offsets or defenses which Tenant might have against any prior landlord under this Lease
(including, without limitation, Landlord) except to the extent such act, omission or default is of a continuing nature and continues after the period the Successor Owner has succeeded to the interest of the Landlord under this Lease, and is capable
of being cured, and such Successor Owner has been provided with written notice of the same; or (iii) be bound by any rent or additional rent which Tenant might have paid for more than the then current month to any prior landlord under this
Lease (including, without limitation, Landlord) or by any security deposit, cleaning deposit or other prepaid charge which Tenant might have paid in advance to any prior landlord under this Lease (including, without limitation, Landlord) (except to
the extent the holder of such Security Document or other Successor Owner shall have actually received any such amounts); or (iv) be bound by any amendment or modification of this Lease made without the consent of the holder of such Security
Document or other such Successor Owner (unless such consent was not required under such Security Document); or (v) be bound by any agreement of any landlord under this Lease (including, without limitation, Landlord) with respect to the
completion of any improvements in the Premises or the real property encumbered by the Security Document or for the payment or reimbursement to Tenant of any contribution to the cost of the completion of any such improvements. 

Section 20.3 Notice to Lender. Tenant shall send a copy of any notice given Landlord under this Lease which alleges that Landlord
is in default of its obligations under this Lease or in which Tenant claims a right to terminate this Lease to the holder of each Security Document at the same time and in the same manner such notice is sent to Landlord. Notice with regard to the
Deed of Trust shall be sent as follows: 
 Metropolitan Life Insurance Company 

10 Park Avenue 
 Morristown New
Jersey 07962 
 Attention: Senior Vice president, Real Estate Investments 

with a copy to: 
 Metropolitan
Life Insurance Company 
 425 Market Street, Suite 1050 

San Francisco, California 04105 

Attention: Director 
 with a copy
to: 
 Metropolitan Life Insurance Company 

425 Market Street, Suite 1050 

San Francisco, California 04105 

Attention: Associate General Counsel 

Section 20.4 Subordination and Non-Disturbance. Following execution and delivery of this Lease, Landlord shall request and use
commercially reasonable efforts to obtain from its 

  
 39 

 
existing mortgagee, a subordination, non-disturbance and attornment agreement on such mortgagee’s current customary form (herein, an “SNDA”) within thirty (30) days of
the Lease Date. Landlord shall not be obligated to expend any monies or agree to any modifications of such mortgage in order to obtain the SNDA. Tenant shall bear and pay when due any costs incurred or imposed in connection with obtaining the SNDA.
Failure to obtain such SNDA shall not impose any liability upon Landlord or in any way affect the validity of this Lease or the parties’ respective obligations hereunder. 

ARTICLE 21 
 ENTRY BY
LANDLORD 
 Section 21.1 Entry. Upon reasonable advance notice to Tenant (except in the event of emergency) (which notice
need not be in writing and may be given by telephone, email or in person to Tenant’s designated employee at the Premises), Landlord, its agents, employees, and contractors may enter the Premises at any time and at reasonable hours to: 

(a) Inspect the Premises; 
 (b)
Exhibit the Premises to prospective purchasers, lenders or tenants (provided Landlord shall only have the right to show the Premises to prospective tenants during the last twenty-four (24) months of the Term); 

(c) Determine whether Tenant is complying with its Lease obligations, if Landlord has a good faith belief that Tenant is not complying with
its Lease obligations; 
 (d) Supply cleaning service and any other service to be provided by Landlord to Tenant according to this Lease;

 (e) Post notices of non-responsibility or similar notices; or 

(f) Make repairs required of Landlord under the terms of this Lease or make repairs to any adjoining space or utility services or make
repairs, alterations, or improvements to any other portion of the Building; however, all such work will be done as promptly as reasonably possible and so as to cause as little interference to Tenant as reasonably possible. 

Tenant shall have the right to have a Tenant representative present during any such Landlord entry, provided Tenant agrees to make such a
representative available should it desire to do so. 
 Section 21.2 Waiver. Except to the extent of any personal injury or
property damage arising from Landlord or Landlord’s employees’, agents, contractors’ or invitees’ negligence or willful misconduct, Tenant hereby waives any claim against Landlord, its agents, employees, or contractors for
damages for any injury or inconvenience to, or interference with, Tenant’s business, any loss of occupancy or quiet enjoyment of the Premises, or any other loss occasioned by any entry in accordance with this Article. Landlord will at all times
be provided with a key with which to unlock all of the doors in, on, or about the Premises (excluding Tenant’s vaults, 

  
 40 

 
safes, and similar areas designated in writing by Tenant in advance). Landlord will have the right to use any and all means Landlord may deem proper to open doors in and to the Premises in an
emergency in order to obtain entry to the Premises, provided that Landlord will promptly repair any damages caused by any forced entry. Any entry to the Premises by Landlord in accordance with this Article will not be construed or deemed to be a
forcible or unlawful entry into or a detainer of the Premises or an eviction, actual or constructive, of Tenant from the Premises or any portion of the Premises, nor will any such entry entitle Tenant to damages or an abatement of Rent or other
charges Tenant is required to pay pursuant to this Lease. 
 ARTICLE 22 

INDEMNIFICATION, WAIVER, AND RELEASE 

Section 22.1 Indemnification and Waiver. Except to the extent arising from Landlord or Landlord’s employees’, agents,
contractors’ or invitees’ negligence or willful misconduct, Tenant shall indemnify and hold Landlord and Landlord’s members, officers, directors, agents, employees and contractors (“Landlord Parties”) harmless
against and from any and all loss, cost and expense arising from Tenant’s use of the Premises, and from any breach or default in the performance of any obligation on Tenant’s part to be performed under the terms of this Lease, or arising
from any negligence or willful misconduct of the Tenant, or any of its agents, employees or contractors. In case any action or proceeding is brought against any Landlord Party by reason of such claim, Tenant, upon Notice from Landlord, shall defend
same, at Tenant’s expense, by counsel reasonably satisfactory to Landlord. Except to the extent arising from Landlord or Landlord’s employees’, agents, contractors’ or invitees’ negligence or willful misconduct, Tenant, as a
material part of the consideration to Landlord, hereby assumes all risk of damage to Tenant’s property or injury to Tenant’s employees, agents, visitors, invitees, and licensees in or upon the Premises and Tenant hereby waives all claims
in respect thereof, from any cause whatsoever. Except to the extent arising from the negligence or willful misconduct of Tenant or its employees, agents, contractors or invitees and subject to the provisions of Section 8.5 hereof,
Landlord shall indemnify and hold Tenant and Tenant’s members, officers, directors, agents, employees and contractors (the “Tenant Parties”) harmless against and from any and all loss, cost and expense arising from any
claim for personal injury or property damage resulting from the negligence or willful misconduct of Landlord or any of its agents, employees or contractors. In case any action or proceeding is brought against any Tenant Party by reason of such
claim, Landlord, upon Notice from Tenant, shall defend same, at Landlord’s expense, by counsel reasonably satisfactory to Tenant. 

Section 22.2 Release. Landlord shall not be liable to Tenant for any entry of third parties into the Project, or for any damage to
person or property, or loss of property in and about the Project by or from any unauthorized or criminal acts of third parties (i.e., parties other than Landlord, its employees, agents or contractors), regardless of any breakdown, malfunction, or
insufficiency of any security measures, practices, or equipment provided by Landlord. Tenant shall immediately notify Landlord in writing of any breakdown or malfunction of any security measures, practices or equipment provided by Landlord as to
which Tenant has knowledge. 
 Section 22.3 Limitations of Actions. In any situation in which Tenant disputes Landlord’s
reasonableness in exercising its judgment or withholding or delaying its consent or 

  
 41 

 
approval, the sole remedies available to Tenant shall be those of an equitable nature, such as an action for an injunction or specific performance. Tenant specifically waives the rights to money
damages or other remedies (including the right to claim money damages by way of setoff, counterclaim or defense). Failure by Tenant to seek relief within ninety (90) days of the date of Landlord’s decision or alleged failure to render a
decision shall be deemed a waiver of any right to dispute such action. 
 Section 22.4 Survival. The provisions of this Article
shall survive the expiration or earlier termination of this Lease. 
 ARTICLE 23 

SECURITY DEPOSIT AND FIRST MONTH’S RENT 

Section 23.1 Security Deposit. (a) Tenant will deposit with Landlord, upon Tenant’s execution of this Lease, the sum set
forth in Section 1.1 as the Security Deposit. The Security Deposit shall be held by Landlord as security for the faithful performance by Tenant of all of the provisions of this Lease to be performed or observed by Tenant. In the event
Tenant fails to perform or observe any of the provisions of this Lease (after the expiration of any applicable grace or cure periods), then Landlord, at its option, may (but shall not be obligated to do so) apply the Security Deposit, or portion
thereof as may be necessary, to remedy such default, to repair damages to the Premises caused by Tenant or to the payment of any other expense which Landlord may incur as a result of Tenant’s default. In the event Landlord so applies any
portion of the Security Deposit, Tenant shall pay to Landlord, within thirty (30) days after written demand for such payment by Landlord, all monies necessary to restore the Security Deposit to the original amount. Provided Tenant is not in
default, any portions of the Security Deposit remaining upon expiration or earlier termination of this Lease shall be returned to Tenant within thirty (30) days after the expiration or earlier termination of this Lease. Tenant shall not be
entitled to any interest thereon. 
 Section 23.2 Letter of Credit. (i) Tenant shall have the right to deposit said
Security Deposit in the form of a renewable, irrevocable, unconditional and transferable Letter of Credit from an Issuing Bank in substantially the form attached hereto as Exhibit E. Tenant shall continuously renew such Letter of Credit
at least sixty (60) days prior to each expiration date thereof and failure to do so shall constitute a default under this Lease and Landlord shall thereupon immediately be entitled to draw upon said Letter of Credit without Notice to Tenant.

 (ii) In the event that at any time during the Term, Landlord, in Landlord’s reasonable opinion, believes (i) that any rating of
the Issuing Bank shall be less than the rating specified for an Issuing Bank in this Lease; or (ii) that circumstances have occurred indicating that the Issuing Bank may be incapable of, unable to, or prohibited from honoring the then existing
Letter of Credit (hereinafter referred to as the “Existing L/C”) in accordance with the terms thereof, then, upon the happening of either of the foregoing, Landlord may send Notice to Tenant to replace the Existing L/C within ten
(10) business days of the receipt of Landlord’s Notice with a new letter of credit (hereinafter referred to as the “Replacement L/C”) from an Issuing Bank meeting the qualifications for an Issuing Bank in this Lease. Upon receipt
of a Replacement L/C meeting said qualifications, Landlord shall forthwith return the Existing L/C to 

  
 42 

 
Tenant. In the event that a Replacement L/C meeting said qualifications is not received by Landlord within the time specified or if Landlord reasonably believes an emergency exists, then in
either event, the Existing L/C may be presented for payment by Landlord and the proceeds thereof shall be held by Landlord as a cash Security Deposit in accordance with Section 23.1 subject, however, to Tenant’s right, at any time
thereafter prior to a Tenant’s default hereunder, to replace such proceeds with a new Letter of Credit meeting the requirements of this Section 23.2. 

Section 23.3 In the event of a sale of Landlord’s interest in the Land, Building and/or Project, Landlord shall have the right, upon
Notice to Tenant (which may be given simultaneously with the transfer), to transfer the Security Deposit (or Letter of Credit) deposited hereunder to the vendee or lessee, and Landlord shall thereupon be released by Tenant from all liability for the
return of such Security Deposit (or Letter of Credit). In such event, Tenant agrees to look solely to the new Landlord for the return of said Security Deposit (or Letter of Credit). It is agreed that the provisions hereof shall apply to every
transfer or assignment made of said Security Deposit (or Letter of Credit) to a new Landlord. 
 Section 23.4 Tenant covenants that it
will not assign or encumber, or attempt to assign or encumber, the Security Deposit (or Letter of Credit) deposited hereunder as security or the proceeds thereof, and that neither Landlord nor its successors or assigns shall be bound by any such
assignment, encumbrance, attempted assignment, or attempted encumbrance. 
 Section 23.5 Security Reduction. Provided there is
no Event of Default under this Lease as of the applicable security reduction date or at the time of Tenant’s request, and Tenant has delivered to Landlord evidence reasonably satisfactory to Landlord that Tenant has completed a successful
equity raise of not less than $25,000,000, then Landlord, upon Tenant’s request, agrees the Security Deposit under the Lease shall be reduced by $500,000 on the first (1st) day of the
twenty-second (22nd) month after the Suite 550 Rent Commencement Date and by $600,000 on the first (1st) day of the thirty-fourth (34th) month after the Suite 550 Rent Commencement Date. If such Security Deposit is then in the form of a Letter of Credit, Landlord agrees to then consent to a corresponding reduction in the amount
of such Letter of Credit. 
 Section 23.6 First Month’s Rent. Tenant will deposit with Landlord, upon Tenant’s
execution of this Lease, the sum set forth in Section 1.1 as the First Month’s Rent, which sum shall be applied to the first installment of Monthly Rent. In the event Tenant defaults under the terms of this Lease prior to the
application of the First Month’s Rent, such sums shall be held as a Security Deposit to be disposed of in accordance with Section 23.1. 

Section 23.7 Tenant waives the provisions of California Civil Code §1950.7, and all other provisions of law now in force, or that
become in force after the Lease Date, that provide that Landlord may claim from the Security Deposit only those sums reasonably necessary to remedy defaults in the payment of accrued Rent, to repair damage caused by Tenant, or to clean the Premises.
Landlord and Tenant agree that Landlord may, in addition, claim those sums reasonably necessary to compensate Landlord for any other foreseeable or unforeseeable loss or damage caused by the act or omission of Tenant or Tenant’s officers,
agents, employees, independent contractors, or invitees, including future rent payments. 

  
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 ARTICLE 24 

QUIET ENJOYMENT 
 Landlord
covenants and agrees with Tenant that so long as Tenant pays the Rent and observes and performs all the terms, covenants and conditions of this Lease on Tenant’s part to be observed and performed, Tenant may peaceably and quietly enjoy the
Premises and Tenant’s possession will not be disturbed by anyone claiming by, through, or under Landlord, subject, nevertheless, to the terms and conditions of this Lease. 

ARTICLE 25 
 EFFECT OF
SALE 
 A sale or conveyance of the Project and/or assignment by Landlord of this Lease shall operate to transfer all of Landlord’s
obligations under the Lease from and after the effective date of such sale, conveyance, or assignment to Landlord’s successor in interest and provided such successor assumes Landlord’s obligations thereafter accruing under this Lease in
writing, such sale or conveyance shall release Landlord from liability for all of the covenants, terms, and conditions of this Lease, express or implied. After the effective date of such sale, conveyance, or assignment, Tenant will look solely to
Landlord’s successor in interest in and to this Lease. This Lease will not be affected by any such sale, conveyance, or assignment, and Tenant will attorn to Landlord’s successor in interest to this Lease. 

ARTICLE 26 
 DEFAULT

 Section 26.1 Events of Default. The occurrence of any one or more of the following events (“Events of
Default”) shall constitute a breach of this Lease by Tenant: 
 (a) if Tenant shall fail to pay Monthly Rent and/or Additional Rent
for Operating Expenses or Taxes and such failure shall continue for more than five (5) days after receipt of Notice of nonpayment; or 

(b) if Tenant shall fail to pay any other sum when and as the same becomes due and payable and such failure shall continue for more than five
(5) days after receipt of Notice of nonpayment; or 
 (c) if Tenant shall fail to comply with the restrictions and provisions of
Article 10; or 
 (d) if Tenant shall fail to perform or observe any other term hereof to be performed or observed by Tenant, and
such failure shall continue for more than thirty (30) days after Notice thereof from Landlord (except that, if such default cannot with all due diligence be cured within such thirty (30) day period, such thirty (30) day period shall
be extended for a period of time necessary for Tenant to cure such default, provided that Tenant commences to cure such default promptly, and in any event within such thirty (30) day period, and thereafter proceeds to cure such default with due
diligence, but in no event shall such cure period be extended beyond ninety (90) days from the date of the original Notice of default); or 

  
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 (e) if Tenant shall make a general assignment for the benefit of creditors, or shall admit in
writing its inability to pay its debts as they become due or shall file a petition in bankruptcy, or shall be adjudicated as bankrupt or insolvent, or shall file a petition seeking a reorganization, arrangement, composition, readjustment,
liquidation, dissolution or similar relief under any present or future statute, law or regulation, or shall file any answer admitting or shall fail timely to contest the material allegations of a petition filed against it in any such proceeding, or
shall seek or consent to or acquiesce in the appointment of any trustee, receiver or liquidator of Tenant or any material part of its properties; or 

(f) if any proceeding against Tenant seeking a reorganization, arrangement, composition, readjustment, liquidation, dissolution or similar
relief under any present or future statute, law or regulation, and such proceeding shall not have been dismissed within sixty (60) days after it commenced, or if, within sixty (60) days after the appointment, without the consent or
acquiescence of Tenant, of any trustee, receiver or liquidator of Tenant or of any material part of its properties, such appointment shall not have been vacated; or 

(g) vacation or abandonment of the Premises for a continuous period in excess of five (5) business days, provided such vacation of the
Premises shall not be deemed a default if Tenant continues to carry the insurance required under this Lease with respect to the Premises and pay the Rent reserved under this Lease. 

Section 26.2 Landlord’s Remedies. If an Event of Default shall occur under this Lease, then Landlord may exercise any one or
more of the remedies set forth in this Section, or any other right or remedy available under applicable law or contained in this Lease: 

(a) Terminate this Lease by giving Tenant written Notice thereof, in which event Tenant shall immediately surrender the Premises to Landlord.
In the event that Landlord shall elect to so terminate this Lease, then Landlord may recover from Tenant: 
 (i) The worth at
the time of award of any unpaid Rent which had been earned at the time of such termination; plus 
 (ii) The worth at the
time of award of the amount by which the unpaid Rent which would have been earned after termination until the time of award exceeds the amount of such Rent loss Tenant proves reasonably could have been avoided; plus 

(iii) The worth at the time of award of the amount by which the unpaid Rent for the balance of the Term after the time of award
exceeds the amount of such Rent loss that Tenant proves reasonably could be avoided; plus 
 (iv) Any other amount necessary
to compensate Landlord for all detriment proximately caused by Tenant’s failure to perform its obligations under this Lease or which in the ordinary course would be likely to result therefrom; plus 

  
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 (v) At Landlord’s election, such other amounts in addition to or in lieu of
the foregoing as may be permitted from time to time by applicable California law. 
 As used in subparagraphs (i) and (ii) above,
the “worth at the time of award” is computed by allowing interest at the Default Rate. As used in subparagraph (iii) above, the “worth at the time of award” is computed by discounting such amount at the discount rate of the
Federal Reserve Bank of San Francisco at the time of award plus one percent (1%). Tenant hereby waives for Tenant and for all those claiming under Tenant all rights now or hereafter existing to redeem by order or judgment of any court or by any
legal process or writ, Tenant’s right of occupancy of the Premises after any termination of this Lease. 
 (b) Terminate
Tenant’s right to possess the Premises without terminating this Lease by giving written Notice thereof to Tenant, in which event Tenant shall pay to Landlord: (1) all Rent and other amounts accrued hereunder to the date of termination of
possession and (2) all Rent and other net sums required hereunder to be paid by Tenant during the remainder of the Term, diminished by any net sums thereafter received by Landlord through reletting the Premises during such period, after
deducting all costs incurred by Landlord in reletting the Premises. Any sums due under the foregoing Section 26.2(b)(2) shall be calculated and due monthly. If Landlord elects to proceed under this Section 26.2(b), Landlord
may remove all of Tenant’s property from the Premises and store the same in a public warehouse or elsewhere at the cost of, and for the account of, Tenant, without becoming liable for any loss or damage which may be occasioned thereby. If and
to the extent required by applicable law, Landlord shall use commercially reasonable efforts to relet the Premises on such terms as Landlord in its sole discretion may determine (including a term different from the Term, rental concessions, and
alterations to, and improvement of, the Premises); however, Landlord shall not be obligated to expend funds in connection with reletting the Premises, nor to relet the Premises before leasing other portions of the Building and Landlord shall not be
obligated to accept any prospective tenant proposed by Tenant unless such proposed tenant meets all of Landlord’s leasing criteria. Landlord shall not be liable for, nor shall Tenant’s obligations hereunder be diminished because of,
Landlord’s failure to relet the Premises or to collect rent due for such reletting. Tenant shall not be entitled to the excess of any consideration obtained by reletting over the Rent due hereunder. Reentry by Landlord in the Premises shall not
affect Tenant’s obligations hereunder for the unexpired Term; rather, Landlord may, from time to time, bring an action against Tenant to collect amounts due by Tenant, without the necessity of Landlord’s waiting until the expiration of the
Term. Unless Landlord delivers written Notice to Tenant expressly stating that it has elected to terminate this Lease, all actions taken by Landlord to dispossess or exclude Tenant from the Premises shall be deemed to be taken under this
Section 26.2(b). If Landlord elects to proceed under this Section 26.2(b), it may at any time elect to terminate this Lease under Section 26.2(a). 

(c) In addition to all other rights and remedies provided Landlord in this Lease and by Law, Landlord shall have the remedy described in
California Civil Code Section 1951.4 (Landlord may continue the Lease in effect after Tenant’s breach and abandonment and recover Rents as they become due if Tenant has the right to sublet or assign the Lease, subject to reasonable
limitations). 

  
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 Section 26.3 If Landlord provides Tenant with any rent abatement in consideration of this
Lease, Tenant acknowledges and agrees that Landlord provided such rent abatement to Tenant in reliance upon Tenant’s representation and warranty that Tenant shall faithfully and timely perform all terms and conditions of this Lease.
Accordingly, if an Event of Default by Tenant shall occur, Landlord shall, in addition to all other damages due Landlord, recover such rent abatement from Tenant as Additional Rent. 

Section 26.4 Continuation After Default. Even though Tenant has breached this Lease and abandoned the Premises, this Lease shall
continue in effect as long as Landlord does not terminate this Lease by Notice of termination to Tenant, and Landlord shall have the right to enforce all of its rights and remedies under this Lease, including the right to recover the Rent as it
becomes due under this Lease. Acts of maintenance or preservation, efforts to relet the Premises or the appointment of a receiver upon initiative of Landlord to protect Landlord’s interest under this Lease shall not constitute a termination of
this Lease. 
 Section 26.5 Other Relief. The remedies provided for in this Lease are in addition to any other remedies
available to Landlord at law or in equity, by statute or otherwise. 
 Section 26.6 Landlord’s Right to Cure Defaults. All
agreements and provisions to be performed by Tenant under any of the terms of this Lease shall be at its sole cost and expense and without any abatement of Rent. If Tenant shall fail to pay any sum of money, other than Rent, required to be paid by
it hereunder or shall fail to perform any other act on its part to be performed hereunder and such failure shall continue for thirty (30) days after Notice thereof by Landlord, Landlord may, but shall not be obligated to do so, and without
waiving or releasing Tenant from any obligations of Tenant, make any such payment or perform any such other act on Tenant’s part to be made or performed as provided in this Lease. The thirty (30) day period referred to above shall not
apply in the event of an emergency, Tenant’s failure to obtain insurance, Tenant’s failure to comply with any legal or insurance requirement requiring sooner action or the removal of any lien under Article 16 of this Lease. All sums
paid by Landlord under this Section and all necessary incidental costs shall be deemed Additional Rent hereunder and shall be payable to Landlord on demand, together with interest thereon from the date of expenditure by Landlord to the date of
repayment by Tenant at the greater of (a) eighteen (18%) percent per annum; or (b) the rate of interest equal to five (5%) percent per annum over the Prime Rate from time to time, but not in any event at a rate greater than the
maximum rate permitted by law. In addition to any other rights or remedies of Landlord, Landlord shall have the same rights and remedies in the event of the nonpayment of such sums and interest as in the case of default by Tenant in the payment of
Rent. 
 Section 26.7 Interest. Despite any other provision of this Lease, the total liability for interest payments shall not
exceed the limits, if any, imposed by the usury laws of the State of California. Any interest paid in excess of those limits shall be refunded to Tenant by application of the amount of excess interest paid against any sums outstanding in any order
that Landlord requires. If the amount of excess interest paid exceeds the sums outstanding, the portion exceeding those sums shall be refunded in cash to Tenant by Landlord. To ascertain whether any interest payable exceeds the limits imposed, any
non-principal payment (including late charges) shall be considered to the extent permitted by law to be an expense or a fee, premium, or penalty rather than interest. 

  
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 ARTICLE 27 

INTENTIONALLY OMITTED 

ARTICLE 28 
 ARBITRATION

 Section 28.1 General. The parties have not agreed to arbitrate all disputes arising pursuant to this Lease; however,
Landlord or Tenant may at any time request final and binding arbitration of any matter in dispute where arbitration is expressly provided for in this Lease. Any party who fails to submit to binding arbitration following a lawful demand by the other
party shall bear all costs and expenses, including reasonable attorneys’ fees, (including those incurred in any trial, bankruptcy proceeding, appeal or review) incurred by the other party in obtaining a stay of any pending judicial proceeding
concerning a dispute which by the terms of this Lease has been properly submitted to mandatory arbitration, and or compelling arbitration of any dispute. The party requesting arbitration shall do so by giving Notice to that effect to the other
party, specifying in said Notice the nature of the dispute. All such arbitration hearings shall be held in the City of San Francisco, California, and determined by a single arbitrator for matters up to $200,000.00 and by three arbitrators for any
dispute in excess of such amount, in accordance (to the extent consistent with this Article) with the Commercial Arbitration Rules then pertaining to the American Arbitration Association (the “Rules”). 

Section 28.2 Demand and Jurisdiction. A party demanding arbitration of a dispute shall give Notice to that effect to the other
party and shall in such Notice appoint a disinterested arbitrator if a dispute is to be resolved by three (3) arbitrators. Within ten (10) business days after delivery of such Notice, the other party will also appoint a disinterested
arbitrator by Notice to the original party. Within ten (10) business days after the latter appointment, the two arbitrators so appointed will appoint a third arbitrator (the “Neutral Arbitrator”). If only one arbitrator
is to be used, then such arbitrator shall be selected as provided by the Rules. The Neutral Arbitrator shall conduct the arbitration. The qualification of the arbitrators shall be as follows: a real estate broker with at least ten (10) years
experience in office leasing in San Francisco, a partner in a national accounting firm’s San Francisco office, or a lawyer specializing in real estate matters with at least ten (10) years experience in the San Francisco area. Selection of
the Neutral Arbitrator will be subject to the following: 
 (a) if the second arbitrator is not appointed within said ten (10) business
day period, the first arbitrator will select the Neutral Arbitrator; and 
 (b) if the two arbitrators appointed by the parties cannot
agree, within ten (10) business days after the appointment of the second arbitrator, upon the appointment of the Neutral Arbitrator, they will give Notice to the parties of such failure to agree, and, if the parties fail to agree upon the
selection of the Neutral Arbitrator within five (5) business days after the arbitrators appointed by the parties give such Notice, then either of the parties may apply to the then Chief Judge of the United States District Court having
jurisdiction over the City and County of San Francisco for a court appointment of the Neutral Arbitrator. 

  
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 Section 28.3 Procedure. The arbitrator(s) shall resolve all disputes in accordance
with the substantive law of the State of California. The arbitrator(s) shall have no authority nor jurisdiction to award any damages or any other remedies beyond those which could have been awarded in a court of law if the parties had litigated the
claims instead of arbitrating them nor to modify the provisions of this Agreement. The parties shall not assert any claim for punitive damages except to the extent such awards are specifically authorized by statute. The Federal Arbitration Act,
Title 9 of the United States Code, is applicable to this Lease transaction and shall be controlling in any judicial proceedings and in the arbitration itself as to issues of arbitrability and procedure. No provision of, nor the exercise of any
rights under this Article shall limit the right of the Landlord to evict the Tenant, exercise self help remedies or obtain provisional or ancillary remedies such as an injunction, receivership, attachment or garnishment. Any arbitration proceeding
may proceed in the absence of any party who, after Notice, fails to be present at such arbitration and, in such event, an award may be made based solely upon the evidence submitted by the party that is present. Discovery will be in accordance with
the Federal Rules of Civil Procedure. The arbitrators will render a decision and award in writing, within thirty (30) days after appointment, and will deliver counterpart copies of the decision and award to each of the parties. Unless otherwise
agreed in writing by the parties or unless this Agreement has been terminated, during the pendency of the arbitration, the parties will continue to comply with all the terms and provisions of this Agreement which are not the subject of the
arbitration proceeding. This agreement to arbitrate will be specifically enforceable by either party. The decision or award rendered by the arbitrator(s) shall be final, non-appealable, and binding upon the parties, and judgment may be entered upon
it in accordance with applicable California law in a court of competent jurisdiction. 
 Section 28.4 Time Frame. The parties
shall use their best efforts to complete any arbitration within sixty (60) days of initial notice of arbitration. The arbitrator(s) shall be empowered to impose sanctions for any party’s failure to do so. The provisions of this arbitration
provision shall survive any termination, amendment, or expiration hereof or of the Lease. Each party agrees to keep all disputes and arbitration proceedings strictly confidential, except for the disclosure of information required in the ordinary
course of business of the parties or as required by applicable law or regulation. Any time limitation (such as the statute of limitations or laches) which would bar litigation of a claim shall also bar arbitration of the claim. If any provision of
this Article is declared invalid by any court, the remaining provisions shall not be affected thereby and shall remain fully enforceable. The parties understand that they have decided that upon demand of either of them, their disputes as described
herein will be resolved by arbitration rather than in a court and once so decided cannot later be brought, filed or pursued in court. 

Section 28.5 Other Rights. Nothing in this Article shall limit the right of either party to obtain from any court having
jurisdiction equitable, provisional or ancillary remedies such as injunctive relief, attachment, garnishment, or the appointment of a receiver. Such rights may be exercised at any time, except to the extent such action is contrary to a final award
of decision in any arbitration proceeding. The institution and maintenance of such action will not constitute a waiver of the right of either party to submit any dispute under this Agreement to arbitration, nor render inapplicable the compulsory
arbitration provisions hereof. 

  
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 Section 28.6 Fees. Each party will pay one-half the fees and the costs incurred by
the Neutral Arbitrator, unless the Neutral Arbitrator exercises its discretion, or is required by this Article, to award fees, costs and expenses to the prevailing party. 

ARTICLE 29 

MISCELLANEOUS 

Section 29.1 No Offer. This Lease is submitted to Tenant on the understanding that it will not be considered an offer and will not
bind Landlord in any way until Tenant has duly executed and delivered triplicate originals to Landlord and Landlord has executed and delivered one of such originals to Tenant. 

Section 29.2 No Recordation. Tenant’s recordation of this Lease or any memorandum or short form of it will be void and a
default under this Lease. 
 Section 29.3 No Waiver. The failure of either party to seek redress for violation of, or to insist
upon the strict performance of any covenant or condition of this Lease or any of the rules and regulations shall not prevent a subsequent act which would have originally constituted a violation, from having all the force and effect of an original
violation. No provision of this Lease shall be deemed to have been waived by either party, unless such waiver be in written agreement giving such waiver. The receipt by Landlord of Rent with knowledge of the breach of any covenant of this Lease
shall not be deemed a waiver of such breach. No payment by Tenant or receipt by Landlord of a lesser amount than the Monthly Rent herein stipulated shall be deemed to be other than on account of the earliest stipulated rent, nor shall any
endorsement or statement on any check or any letter accompanying any check or payment as rent be deemed an accord and satisfaction. Landlord may accept such check or payment without prejudice to Landlord’s right to recover the balance of such
Rent or pursue any other remedy in this Lease. No act by Landlord or its agent shall be deemed an acceptance of a surrender of the Premises or an agreement to accept such surrender unless in writing and signed by Landlord. No employee of Landlord or
its agent shall have any power to accept the keys to the Premises and the delivery of the keys shall not operate as a termination of this Lease or surrender of the Premises. The parties acknowledge that the provisions of this Section are essential
and material terms of this Lease. 
 Section 29.4 Estoppel Certificates. Landlord and Tenant agree that from time to time, upon
not less than fifteen (15) days prior written request by the requesting party (each, a “Requesting Party”), that the other party shall promptly complete, execute and deliver to the Requesting Party, or any party or parties
designated by the Requesting Party, an estoppel certificate in reasonable form certifying: (1) that this Lease is unmodified and in full force and effect (or if there have been modifications that the same are in full force and effect as
modified and identifying the modifications); (2) the dates to which the Rent and other charges have been paid; (3) that the Premises have been unconditionally accepted by the Tenant (or if not, stating

  
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with particularity the reasons why the Premises have not been unconditionally accepted); (4) the amount of any Security Deposit held hereunder; (5) that, so far as the party making the
certificate knows, the Requesting Party is not in default under any provisions of this Lease, if such is the case, and if not, identifying all defaults with particularity; and (6) any other matter reasonably requested by the Requesting Party.
Any such statement may be conclusively relied upon by any prospective lender, purchaser of the Building or the third party designated by the Requesting Party. In addition to Landlord’s other rights and remedies with respect to this Lease, if
Tenant fails to deliver to Landlord an executed estoppel certificate within fifteen (15) days after Landlord’s written request therefor, than beginning on the sixteenth (16th) day
after such request, Tenant shall pay to Landlord, as additional rent hereunder, an amount equal to Three Hundred Dollars ($300.00) per day until such time as Tenant delivers such executed estoppel certificate to Landlord. 

Section 29.5 Attorneys’ Fees. In the event Landlord institutes an action for the collection of any Rent or other sums due or
to become due hereunder, or recovery of the possession of the Premises or in the event an action is filed by either party to enforce or interpret any provisions of this Lease, then the prevailing party shall be entitled to recover from the other
party such sum as the court may adjudge reasonable as attorneys’ fees at trial or on appeal of such suit or action, in addition to all other sums provided by law. The prevailing party shall be determined under California Civil Code
§1717(b)(1) or any successor statute. 
 Section 29.6 Severability. If any provision of this Lease proves to be illegal,
invalid, or unenforceable, the remainder of this Lease will not be affected by such finding, and in lieu of each provision of this Lease that is illegal, invalid, or unenforceable a provision will be added as a part of this Lease as similar in terms
to such illegal, invalid, or unenforceable provision as may be possible and be legal, valid, and enforceable. 
 Section 29.7
Written Amendment Required. No amendment, alteration, modification of, or addition to the Lease will be valid or binding unless expressed in writing and signed by Landlord and Tenant. Tenant agrees to make any modifications of the terms and
provisions of this Lease required or requested by any lending institution providing financing for the Building, Land or Project, as the case may be, provided that no such modifications will materially adversely affect Tenant’s rights and
obligations under this Lease. 
 Section 29.8 Entire Agreement. This Lease, the exhibits and addenda, if any, contain the entire
agreement between Landlord and Tenant. No promises or representations, except as expressly contained in this Lease, have been made to Tenant respecting the condition or the manner of operating the Premises, the Building, or the Project. The taking
possession of the Premises by Tenant shall be conclusive evidence that Tenant accepts the Premises and the Building and that, except to the extent set forth in a written “punchlist” or other agreement between Landlord and Tenant, the same
were good and satisfactory condition at the time such possession was so taken. 
 Section 29.9 Captions. The captions of the
various articles and sections of this Lease are for convenience only and do not necessarily define, limit, describe, or construe the contents of such articles or sections. 

  
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 Section 29.10 Brokers. Landlord and Tenant respectively represent and warrant to each
other that neither of them has consulted or negotiated with any broker or finder with regard to the Premises except the Broker named in Section 1.1, if any. Each of them will indemnify the other against and hold the other harmless from
any claims for fees or commissions from anyone with whom either of them has consulted or negotiated with regard to the Premises except the Broker. Based on the foregoing, Landlord will pay the Broker named in Section 1.1, if any, a
commission due with respect to this Lease pursuant to a separate agreement. 
 Section 29.11 Governing Law. This Lease will be
governed by and construed pursuant to the laws of the State of California. 
 Section 29.12 No Easements for Air or Light. Any
diminution or shutting off of light, air, or view by any structure that may be erected on lands adjacent to the Building will in no way affect this Lease or impose any liability on Landlord. 

Section 29.13 Tax Credits. Landlord is entitled to claim all tax credits and depreciation attributable to Landlord funded
leasehold improvements in the Premises. Promptly after Landlord’s demand, Landlord and Tenant will prepare a detailed list of the leasehold improvements and fixtures and their respective costs for which Landlord or Tenant has paid. Landlord
will be entitled to all credits and depreciation for those items for which Landlord has paid by means of any Tenant Improvement Allowance or otherwise. Tenant will be entitled to any tax credits and depreciation for all items for which Tenant has
paid with funds not provided by Landlord. 
 Section 29.14 Counterparts. This Lease and any amendment hereto may be executed in
any number of counterparts, each of which shall be deemed an original, but all of which when taken together will constitute one and the same instrument. The signature page of any counterpart may be detached therefrom without impairing the legal
effect of the signature(s) thereon provided such signature page is attached to any other counterpart identical thereto except having additional signature pages executed by other parties to this Lease or any amendment attached thereto. Facsimile
signatures to this Lease or any amendment shall be binding upon the parties and the parties agree to exchange ink-signed originals within three (3) business days after the date of this Lease or any amendment. 

Section 29.15 Binding Effect. The covenants, conditions, and agreements contained in this Lease will bind and inure to the benefit
of Landlord and Tenant and their respective heirs, distributees, executors, administrators, successors, and, except as otherwise provided in this Lease, their assigns. 

Section 29.16 Confidentiality. It is hereby agreed that the terms and provisions of this Lease are confidential and, as such, may
not be disclosed to any individual or entity without the express written consent of Landlord; provided, Tenant shall have the right to disclose the terms and provisions of this Lease to Tenant’ attorneys, tax advisors, accountants, financial
advisors and investors without the consent of Landlord but who shall similarly be subject to Tenant’s obligation hereunder to keep the terms and conditions hereof confidential. Any disclosure without such consent shall be deemed a material
default of the terms of this Lease. 

  
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 Section 29.17 Approval. Except as may be specifically otherwise provided in this
Lease, reference in this Lease to “approval,” “consent” “judgment” and “satisfactory” shall not be interpreted as justifying arbitrary rejection, but rather shall connote a reasonable application of judgment
taking into account long-term leasing practices and commercial customs relating to major real estate transactions. 
 Section 29.18
Time Periods. Unless otherwise specified, in computing any period of time described herein, the day of the act or event after which the designated period of time begins to run is not to be included and the last day of the period so computed
is to be included, unless such last day is a Saturday, Sunday or legal holiday for national banks in San Francisco, California, in which event the period shall run until the end of the next day which is not a Saturday, Sunday, or legal holiday. The
last day of any period of time described herein shall be deemed to end at 5:00 p.m. Pacific time. 
 Section 29.19 Construction of
Terms. Wherever used in this Lease, unless the context clearly indicates a contrary intent or unless otherwise specifically provided herein, the word “Lease” shall mean this Lease and any schedules or supplements hereto. Whether
or not specifically stated in any provision of this Lease, reference herein to (i) any law, statute, ordinance, code, rule, regulation or the like shall mean and included any and all modifications, amendments and replacements thereof,
(ii) the phrase “including” shall mean “including without limitation” and (iii) any right of Landlord shall mean unless expressly provided therein to the contrary, such right without any corresponding obligation,
(iv) “or” is not exclusive, (v) “hereunder” “herein”, “hereof” and the like refer to this Lease as a whole, (vi) “Article”, “Section”, “Schedule” and
“Exhibit” refer to Articles, Sections, Schedules and Exhibits of this Lease, (vii) terms defined in the singular shall have a correlative meaning when used in the plural and vice versa, (viii) a reference to a law includes any
amendment, modification or supplement to, or replacement of, such law, (ix) a reference to a document shall mean such document as the same may be amended, modified or supplemented from time to time in accordance with its terms,
(x) “Tenant” shall mean Tenant and any subsequent holder or holders of this Lease, (xi) “Landlord” shall be limited to and mean only the owner or mortgagee in possession of the Project at the time in question and in the
event of any sale, assignment or transfer of its interest in the Project, such assigning owner or mortgagee in possession shall upon such sale, assignment or transfer automatically and without further agreement be released and discharged from all
covenants, conditions and agreements of the Landlord accruing under this Lease from and after the date of such sale, assignment or transfer, and such covenants, conditions and agreements accruing thereafter shall thereupon and thereafter be binding
only upon each new owner or mortgagee in possession of the Project, until its interest in the Project is sold, assigned or transferred and (xii) pronouns of any gender shall include the other gender; and either the singular or plural shall
include the other. 
 Section 29.20 Waivers. (a) Jury Trial. To the extent enforceable, Landlord and Tenant waive
the right to a trial by jury in any action, counterclaim, proceeding or litigation arising out of, under or in connection with, or related to, the subject matter of this Lease. This waiver is knowingly, intentionally, and voluntarily made by Tenant
and Tenant acknowledges that neither Landlord nor any person acting on behalf of Landlord has made any representations of fact to induce this waiver of trial by jury or in any way to modify or nullify its effect. Tenant further

  
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acknowledges that it has been represented (or has had the opportunity to be represented) in the negotiation and execution of this Lease and in the making of this waiver by independent legal
counsel, selected of its own free will, and that it has had the opportunity to discuss this waiver with counsel. 
 (b) Statutory
Waivers. Tenant hereby waives the benefits of: (i) Sections 1932 and 1933(4) of the California Civil Code (pertaining to the termination of a hiring); (ii) Sections 1941. and 1942 of the California Civil Code (pertaining to the
obligations of a landlord to maintain premises and the rights of a tenant to make certain repairs or terminate a lease); (iii) Section 1945 of the California Civil Code (pertaining to renewal of a lease by acceptance of rent);
(iv) Section 1950.7 of the California Civil Code (pertaining to security for the performance of a rental agreement); (v) Section 1995.310 of the California Civil Code (pertaining to remedies for withholding of consent to transfer
of a leasehold); (vi) Section 1263.260 of the California Code of Civil Procedure (pertaining to the removal of improvements upon condemnation); and, (vii) Section 1265.130 of the California Code of Civil Procedure (pertaining to
the termination of a lease upon condemnation). 
 Section 29.21 Consequential Damages. In no event shall Landlord be liable for
any consequential, special, punitive or indirect loss or damage which Tenant may incur or suffer in connection with this Lease or any services to be performed or provided pursuant hereto. 

Section 29.22 Limitation of Liability. Tenant shall look solely to the estate and interest of Landlord, its successors and
assigns, in the Project (including rent and insurance proceed of the Project) for the collection of a judgment (or other judicial process) requiring the payment of damages or money by Landlord, and no other property or assets of Landlord or any
member, partner, shareholder, joint venturer or other beneficial owner of Landlord shall be subject to levy, execution or other enforcement procedure for the satisfaction of Tenant’s remedies under or with respect to either this Lease, the
relationship of Landlord and Tenant hereunder or Tenant’s use and occupancy of the Premises. 
 Section 29.23 Lender
Contingency. This Lease is contingent upon the approval of Landlord’s lender, which approval Landlord shall request promptly after the mutual execution hereof by both parties. In conjunction with Landlord’s request for approval,
Landlord shall also request that Lender execute the SNDA, provided Tenant has executed the same and paid the applicable fees, if any, in connection therewith. If such approval is not obtained within twenty (20) days after the date this Lease is
countersigned by the Landlord and returned to the Tenant, either party may, by Notice to the other given after the expiration of such twenty (20) day period but before such approval is obtained, declare this Lease to be null and void and of no
force or effect. 
 Section 29.24 Financial Statements. Upon Notice from Landlord, which may not be given more than once each
calendar year, Tenant shall provide, within fifteen (15) business days, audited financial statements prepared by its regularly retained certified public accountant. In the event that Tenant does not have such financial statements generally
prepared, Tenant shall provide financial statements prepared in accordance with generally accepted accounting principles consistently and certified by its chief financial officer. 

  
 54 

 Section 29.25 Control Over Tenant’s Wi-Fi Use. 

(a) Wi-Fi. Tenant shall have the right to install, at its sole cost and expense, a wireless intranet, Internet, and communications
network (also known as “Wi-Fi”) utilizing IEEE 802.XX protocols within the Premises for the use of Tenant and its employees (the “Network”) subject to the provisions of this Article 29 and to the provisions
of Article 15. All telecommunications service providers shall be subject to Landlord’s prior written approval. 
 (b) No
Solicitation. Tenant shall not solicit, suffer, or permit other tenants or occupants of the Building to use the Network or any other communications service, including, without limitation, any wired or wireless Internet service that passes
through, is transmitted through, or emanates from the Premises. 
 (c) Interference. Tenant agrees that the Network, Tenant’s
communications equipment and the communications equipment of Tenant’s service providers located in or about the Premises or installed in the Building to service the Premises including, without limitation, any antennas, switches, or other
equipment (collectively, “Tenant’s Communications Equipment”) shall be of a type and, if applicable, a frequency that will not cause radio frequency, electromagnetic, or other interference to any other party or any
equipment of any other party including, without limitation, Landlord, other tenants, or occupants of the Building, Landlord reserves the right to cause Tenant to operate on a channel or frequency band that Landlord selects, in its sole discretion.
In the event that Tenant’s Communications Equipment causes or is believed by Landlord to cause any such interference, upon receipt of notice from Landlord of such interference, Tenant will promptly take all steps necessary to correct and
eliminate the interference. If the interference is not eliminated within 24 hours (or a shorter period if Landlord believes a shorter period to be appropriate) then, upon notice from Landlord, Tenant shall use other channels or frequencies as
determined solely by Landlord, or, at Landlord’s election, shut down the Tenant’s Communications Equipment pending resolution of the interference (with the exception of intermittent testing upon prior notice to, and with the prior approval
of, Landlord). Landlord shall have no obligation or liability with respect to any interruption, curtailment or discontinuance of telecommunications services. 

(d) Arbitration. If there is a dispute between Landlord and Tenant as to any such interference, then either party may submit such
dispute to arbitration in accordance with the terms of Article 28, except that the chosen arbitrator(s) shall be (an) engineer(s) having at least five (5) years of experience in telecommunications. 

(e) Maintenance. Tenant shall maintain Tenant’s Telecommunications Equipment in good order and repair at its sole cost and
expense. 
 (f) Acknowledgment. Tenant acknowledges that Landlord has granted and/or may grant lease rights, licenses, and other
rights to other tenants and/or occupants of the Building and to telecommunications service providers. 
 Section 29.26 Notices.
When this Lease requires service of a notice, that notice shall replace rather than supplement any equivalent or similar statutory notice, including notices 

  
 55 

 
required by California Code of Civil Procedure §1161, or any similar or successor statute. When a statute requires service of a notice in a particular manner, service of that notice (or a
similar notice required by this Lease) shall replace and satisfy the statutory service-of-notice procedures, including those required by California Code of Civil Procedure §1162 or any similar or successor statute. 

ARTICLE 30 
 EXTENSION
OPTION 
 Section 30.1 Extension Option. Tenant shall have the option (herein, the “Extension
Option”) to extend the term of this Lease for an additional term of five (5) years (herein, the “Extension Term”) to commence on the day following the Expiration Date and to terminate five (5) years
thereafter, provided that Tenant is not in default of any provision of this Lease and has not subleased more than fifty percent (50%) of the area of the Premises during any portion of the two (2) Lease Years prior to the Expiration Date.
Such extension shall be upon the same terms and conditions as contained in this Lease except that (i) the Monthly Rent shall be the “Fair Market Rent” as of the date of “Tenant’s Notice” (as hereinafter defined),
determined pursuant to Section 30.2; (ii) there shall be no Landlord’s Work, Tenant Improvement Allowance, free rent or other related concessions granted for such extension; (iii) the Base Year for Operating Expenses shall
be the calendar year in which the Extension Term commences; (iv) the Base Year for Taxes shall be the calendar in which the Extension Term commences; and (v) there shall be no further option to extend. In order to exercise the Extension
Option, Tenant shall give notice to Landlord (“Tenant’s Notice”) of such exercise not later than twelve (12) months prior to the Expiration Date, time being of the essence. In order for Tenant’s exercise to be
effective, at the time it gives such Tenant’s Notice and at the time the Extension Term is to commence, there shall not, at Landlord’s option, be an outstanding Event of Default under this Lease. If Tenant fails to exercise its Extension
Option within the time period provided herein, said time being of the essence, Tenant shall be deemed to have waived its Extension Option without any further notice from Landlord and Landlord shall be free to lease such space upon such terms as
Landlord may elect in its sole discretion. 
 Section 30.2 Determination of Rent. Following Tenant’s Notice, but no later
than nine (9) months prior to the Expiration Date, Landlord shall give Tenant notice (“Landlord’s Notice”) of Landlord’s determination of the “Fair Market Rent” (as hereinafter defined) for the extension
term. For the purposes of this Article, the term “Fair Market Rent” shall mean the product of (i) annual fair market rental rate per square foot for comparable space in the Building and in other comparable first-class office
buildings in the San Francisco, California central business district paid by tenants pursuant to renewal leases similar to this Lease and taking into account rent concessions then being granted, if any, for such leases, for comparably improved space
for a term of five (5) years multiplied by (ii) the rentable square foot area of the Premises based upon Landlord’s then applicable standards for measuring rentable square footage in the Building. Tenant shall have the right to
contest Landlord’s determination by written notice to Landlord (herein, the “Objection Notice”) given within thirty (30) days of receipt of Landlord’s Notice, time of the essence. If Tenant shall desire to contest
such determination, Tenant shall give Landlord an Objection Notice within such thirty (30) day period, time of the essence, which Objection Notice shall state Tenant’s determination of the Fair Market Rent. If Tenant shall send 

  
 56 

 
an Objection Notice to Landlord, Tenant’s exercise of the Extension Option shall nevertheless be valid and binding, but Landlord and Tenant shall proceed to determine the Fair Market Rent,
as follows. Landlord and Tenant shall negotiate in good faith for a period of thirty (30) days after Landlord’s receipt of the Objection Notice to attempt to resolve the Fair Market Rent. In the event that the determination of Fair Market
Rent shall not be resolved by the date of the then pending Expiration Date, Tenant shall pay the Monthly Rent as set forth in Landlord’s Notice pending the resolution of such dispute. In the event that it is determined that the Fair Market Rent
is less than the Rent Tenant has been paying, Landlord shall reimburse or credit Tenant for the difference. 
 Section 30.3 Dispute
Resolution. In the event that the parties are unable to agree upon the Fair Market Rent within thirty (30) days of Landlord’s receipt of the Objection Notice, such Fair Market Rent shall be determined in accordance with the foregoing
definition by two (2) qualified appraisers, one selected by each of the parties. Each party shall send the other Notice of its choice of appraiser within thirty (30) days of Landlord’s receipt of Objection Notice. Failure by either
party to send such Notice within such thirty (30) day period shall mean that the other party’s determination of Fair Market Rent is accepted. If the two (2) appraisers agree upon such Fair Market Rent, such decision shall be
conclusive and binding upon the parties. Except as hereinafter provided, if the two (2) appraisers cannot agree upon such rent within sixty (60) days after the date upon which both have been appointed, the two (2) appraisers shall
then select a third appraiser within ten (10) days thereafter. The third appraiser shall within thirty (30) days select the value determined by either Landlord’s or Tenant’s appraiser as being in his/her professional opinion
closest to the Fair Market Rent of the Premises. If the rent determined by Landlord’s and Tenant’s appraisers are not more than ten percent (10%) foot apart, for the purposes of this Article, the Fair Market Rent shall be deemed to be
the average of the two (2) rents. The appraisers shall be licensed real estate brokers or Members of the Appraisal Institute, who are disinterested and are currently practicing in San Francisco, California with at least ten (10) years of
experience in leasing or appraising properties similar to the Building. Each party shall pay the fees charged by the appraiser it selects and the fees of the third appraiser, if one is required, shall be borne equally. The foregoing agreement to
arbitrate shall be specifically enforceable and shall be subject to the applicable provisions of Article 28. 
 ARTICLE 31 

RIGHT OF FIRST OFFER 

Section 31.1 Tenant shall have the one-time right, on and subject to the terms and conditions contained in this Article 31, to
lease the balance of the office space on the fifth (5th) floor of the Building which may become available during the Term (herein, the “Additional Space”).
Tenant’s option to lease the Additional Space shall only be effective upon, and in strict compliance with, the following terms and conditions: 

(a) Tenant shall not, at Landlord’s option, be in default of any of the terms, covenants or conditions of this Lease (beyond any
applicable notice and cure periods) either on the date of “Landlord’s Availability Notice” or on the date of “Tenant’s Acceptance Notice” (as such quoted terms are hereinafter defined); 

  
 57 

 (b) Tenant shall not have subleased more than thirty-five percent (35%) of the area of the
Premises; 
 (c) There shall be not less than three (3) full years remaining in the Term (unless Tenant shall then have any outstanding
options to extend or renew the Term of this Lease and unconditionally agrees to exercise such option) and Tenant shall not have exercised any option to cancel or terminate this Lease in whole or in part if any such option is contained in this Lease;

 (d) Tenant shall have the right to lease all, but not less than all of the Additional Space, as and when it becomes available and only
for a term which expires on the expiration date of this Lease and not for more or less than such period; 
 (e) Tenant shall accept the
Additional Space “as is” in a broom clean condition without any contribution to any alterations by Landlord; 
 (f) Annualized
Monthly Rent for the Additional Space shall be “Fair Market Additional Space Rent” as of the “Availability Date” (as such quoted terms are hereinafter defined) of such space; 

(g) The rent commencement date for the Additional Space shall be the date on which vacant possession of such Additional Space is tendered to
Tenant; 
 (h) Tenant’s Share of Operating Expenses and Taxes for the Additional Space shall be determined by dividing the rentable
area of such Additional Space by the rentable square foot area of the Building; 
 (i) Should Tenant exercise its option to lease the
Additional Space, Tenant shall be required to deposit with Landlord an additional Security Deposit in an amount equal to the same number of months of Monthly Rent for the Additional Space as is then on deposit under this Lease with respect to the
balance of the Premises, if any, and such additional Security Deposit shall be subject to the same percentage reduction as the original Security Deposit provided in Section 23.5; and 

(j) The Additional Space shall be deemed available if, and only if, the lease for such Additional Space is terminated or expires, the
Additional Space is or shall become vacant, and Landlord has not, or will not, renew or extend the term of the lease(s) of the existing tenant(s) of such Additional Space, whether or not in accordance with the terms of a renewal or extension option
contained in such tenant’(s) lease(s). Tenant’s option to lease the Additional Space is further subject and subordinate to the rights of other tenants to lease such space and is conditioned on any tenant(s) who have rights to lease such
Additional Space having waived all such rights. The only tenants who have rights to lease such Additional Space as of the Lease Date are Orrick, Herrington and Sutcliffe, LLP and WSP Flack & Kurtz. 

Section 31.2 If Tenant fails or declines to exercise its right to lease the Additional Space then available in strict accordance with the
terms of Section 31.1, TIME BEING OF THE ESSENCE, Tenant shall have no further right to lease such Additional Space and Landlord shall be free to lease such Additional Space on any terms it shall decide in its sole discretion. 

  
 58 

 Section 31.3 Landlord shall give prompt Notice to Tenant of the availability of any
Additional Space which Tenant still has a right to lease pursuant to this Article 31 (“Landlord’s Availability Notice”). Landlord’s Availability Notice shall set forth Landlord’s determination of the
Fair Market Additional Space Rent and other applicable rental terms for such Additional Space. For the purposes of this Section, the term “Fair Market Additional Space Rent” shall mean the annual fair market rent per
square foot, additional rent and other rental terms for comparable space in the Building and in other comparable first-class office buildings in the downtown San Francisco, California central business district paid by tenants of comparable financial
standing to Tenant for leases similar to this Lease, as applicable to the Additional Space and taking into account the presence or absence of work allowances and rent concessions or similar items, if any, then being granted, for such leases. Any
such Landlord’s Availability Notice shall also state the date of availability of such Additional Space (the “Availability Date”). Landlord’s Availability Notice will specify an Availability Date which is not
less than three (3) months after the date of such Landlord’s Availability Notice if such Notice relates to Additional Space which will become available upon the regularly scheduled expiration date of the existing lease then in effect for
such Additional Space. In the event of the premature termination of a lease affecting any Additional Space, however, Landlord’s Availability Notice shall specify the Availability Date of such Additional Space without regard to any such minimum
notice requirement. In either event, Tenant shall have ten (10) days after the date of receipt of any Landlord’s Availability Notice within which to give written notice (“Tenant’s Acceptance Notice”) to
Landlord of its election to lease such Additional Space, TIME BEING OF THE ESSENCE. Tenant shall indicate in Tenant’s Acceptance Notice to Landlord whether it either (i) accepts Landlord’s determination of Fair Market Additional Space
Rent; or (ii) elects to arbitrate Landlord’s determination of Fair Market Additional Space Rent in accordance with the procedure described in Section 30.3 above (and for purposes of arbitrating Fair Market Additional
Space Rent, references therein to “Fair Market Rent” shall be deemed to refer to “Fair Market Additional Space Rent” and other terms shall similarly be appropriately conformed). If Tenant elects to arbitrate Landlord’s
determination of Fair Market Additional Space Rent, Tenant’s Acceptance Notice shall also set forth Tenant’s determination of Fair Market Additional Space Rent. Any Tenant’s Acceptance Notice, once given, shall be irrevocable and
shall be deemed to bind Landlord and Tenant to the leasing of the Additional Space, whether Tenant accepts Landlord’s determination of Fair Market Additional Space Rent or elects to arbitrate such determination and shall further be deemed to
constitute Tenant’s waiver of any option to cancel or terminate this Lease in whole or in part. If Tenant fails to give Landlord its Tenant’s Acceptance Notice, TIME OF THE ESSENCE, within ten (10) days after the date of receipt of
Landlord’s Availability Notice, Tenant shall be deemed to have elected not to lease the Additional Space, Tenant shall have no further right to lease such Additional Space and Landlord shall be free to lease such Additional Space to any party
on any terms it shall decide in its sole discretion. Upon Tenant exercising its right to lease any Additional Space under this Article 31, this Article 31 shall be deemed deleted from this Lease and Tenant shall have no further right
to lease any further Additional Space. 

  
 59 

 Section 31.4 If the tenant in possession of any Additional Space shall fail or refuse to
vacate its space upon the expiration of its lease, Landlord shall have no liability therefor, and the Availability Date shall be postponed until such time as such tenant in possession vacates such Additional Space. 

Section 31.5 If the Fair Market Additional Space Rent for any Additional Space has not been determined by the Availability Date for such
space, Tenant shall pay the rent specified in Landlord’s Availability Notice. If the Fair Market Additional Space Rent, as determined by the arbitrators, is more than the rent Tenant has paid, Tenant shall pay, within ten (10) days after
such determination, the deficiency. In the event that the Fair Market Additional Space Rent, as determined by the arbitrators, is less than the rent that Tenant has paid, Tenant shall be entitled to a credit against the next installment(s) of
Monthly Rent due with respect to the Additional Space in an amount equal to the excess rent it has paid. 
 Section 31.6 Once the Fair
Market Additional Space Rent has been either agreed upon or determined by the arbitrators, the parties shall enter into an amendment to this Lease for the Additional Space adding the Additional Space to the Premises under this Lease and setting
forth all of the terms applicable to the leasing of the Additional Space, provided failure to do so shall not affect the parties’ rights or obligations with respect to such space. 

IN WITNESS WHEREOF, Landlord and Tenant have respectively signed and sealed this Lease as of the date first above written. 

 

			
	 FITBIT, INC.
		405 HOWARD, LLC,
	 a Delaware corporation
		a Delaware limited liability company
		
	  
 By: /s/ James
Park                                         
       
		By: /s/ Richard J. Battista
                                    
	 Print Name: James Park
		Print Name: Richard J. Battista
	 Print Title: President
		Print Title: Executive Vice President and Treasurer
		
	 Tenant’s Tax I.D. Number:
		
		
	  

                   
                                         
                    
		

  
 60 

 EXHIBIT A 

The Premises 
  

 

  
 A-1 

 EXHIBIT B 

Legal Description of the Land 
 CITY
OF SAN FRANCISCO 
 LOT 30, AS SHOWN ON THAT CERTAIN MAP ENTITLED “PARCEL MAP BEING A MERGER OF THE LANDS DESCRIBED IN GRANT DEEDS 7150 O.R. 456, 7487
O.R. 272, 8743 O.R. 272, 8743 O.R. 275, A886 O.R. 12, B387 O.R. 123, B802 O.R. 100, C368 O.R. 769, D387 O.R. 453, AND H723 O.R. 179, ALSO BEING A MERGER OF LOTS 1, 1A, 1B, 2, 4, 22, 23, 24, 25, 26, 28 & 29, FORMER SLOAN ALLEY AND TENNY
PLACE & GAPS OF ASSESSOR’S BLOCK 3737, ALSO BEING A PORTION OF 100 VARA BLOCK NO. 342”, RECORDED DECEMBER 29, 2000, AS INSTRUMENT NO. 2000-G884926-00 AND FILED IN BOOK 44 OF PARCEL MAPS AT PAGES 164 AND 165, OFFICE OF THE RECORDER
OF THE CITY AND COUNTY OF SAN FRANCISCO, STATE OF CALIFORNIA. 
 LOT 030, BLOCK 373 

(FORMER LOTS 001, 001A, 001B, 002, 004, 022, 023, 024, 025, 026, 028 AND 029) 

  
 B-1 

 EXHIBIT C 

Rules and Regulations 

1. Sidewalks, doorways, halls, stairways, vestibules and other similar areas shall not be obstructed by any Tenant or used by them for purpose
other than ingress to and egress from their respective Premises, and for going from one part of the Building to another part. 
 2. Plumbing
fixtures shall be used only for their designated purpose, and no foreign substances of any kind shall be deposited therein. Damage to any such fixture resulting from misuse by Tenant or any employee or invitee of Tenant shall be repaired at the
expense of Tenant. 
 3. Nails, screws and other attachments to the Building (other than for hanging pictures and other customary wall
decorations on the interior walls of the Premises) require prior written consent from Landlord. Landlord consents to the use and installation of white boards in the Premises, provided Tenant complies with the applicable terms and conditions of the
Lease applicable to Alterations. 
 4. All contractors and technicians rendering any installation service to Tenant shall be subject to
Landlord’s approval and supervision prior to performing services. This applies to all work performed in the Building including, but not limited to, installation of telephone, telegraph equipment, and electrical devices, as well as all
installation affecting floors, walls, woodwork, windows, ceilings, and any other physical portion of the Building. 
 5. Movement in or out
of the Building of furniture, office equipment, or other bulky material which requires the use of elevators, stairways, or Building entrance and lobby shall be restricted to hours established by Landlord. All such movement shall be under
Landlord’s supervision, and the use of an elevator for such movements shall be made restricted to the Building’s freight elevators. Prearrangements with Landlord shall be made regarding the time, method, and routing of such movement and
Tenant shall assume all risks of damage and pay the cost of repairing or providing compensation for damage to the Building, to articles moved and injury to persons or public resulting from such moves. Except to the extent arising from the negligence
or willful misconduct of Landlord or its employees, contractors or agents, Landlord shall not be liable for any acts or damages resulting from any such activity. 

6. Corridor doors, when not in use, shall be kept closed. 

7. Tenant shall cooperate with Landlord in maintaining the Premises. Tenant shall not employ any person for the purpose of cleaning the
Premises other than the Building’s cleaning and maintenance personnel. 
 8. Deliveries of water, soft drinks, newspapers, or other
such items to any Premises shall be restricted to hours established by Landlord and made by use of the freight elevators if Landlord so directs. 

  
 C-1 

 9. Nothing shall be swept or thrown into the corridors, halls, elevator shafts, or stairways. No
birds, fish, or animals of any kind shall be brought into or kept in, on or about the Premises (unless they are service animals). 
 10. No
cooking shall be done in the Premises, except in connection with convenience lunch room or beverage service for employees and guests (on a non-commercial basis) in a manner which complies with all of the provisions of the Agreement and which does
not produce fumes or odors. Landlord acknowledges that Tenant may provide catered lunches to its employees and/or invitees, which lunches may require warming and heating of food be electric hot plates. No open flames or sterno cans shall be
permitted for any purpose. 
 11. Food, soft drink or other vending machines shall not be placed within the Premises without Landlord’s
prior written consent. 
 12. Tenant shall not use or keep on its Premises any kerosene, gasoline, or inflammable or combustible fluid or
material other than limited quantities reasonably necessary for the operation and maintenance of office equipment. 
 13. Tenant shall not
tamper with or attempt to adjust temperature control thermostats in the Premises. Landlord shall make adjustments in thermostats on call from Tenant. 

14. Tenant shall comply with all requirements necessary for the security of the Premises, including the use of service passes issued by
Landlord for after hours movement of office equipment/packages, and signing security register in Building lobby after hours. 
 15. Landlord
will furnish Tenant with a reasonable number (i.e., twenty (20)) of initial keys for entrance doors into the Premises and may charge Tenant for additional keys thereafter. All such keys shall remain the property of Landlord. No additional locks
are allowed on any door of the Premises without Landlord’s prior written consent and Tenant shall not make any duplicate keys, except those provided by Landlord. Upon termination of the Agreement, Tenant shall surrender to Landlord all keys to
the Premises, and give to Landlord the combination of all locks for safes and vault doors, if any, in the Premises. 
 16. Landlord retains
the right, without notice or liability to tenant, to change the name and street address of the Building. 
 17. Canvassing, peddling,
soliciting, and distribution of handbills in the Building are prohibited and each tenant will cooperate to prevent these activities. 
 18.
The Building hours of operation are 8:00 a.m. to 6:00 p.m. Monday through Friday, excluding holidays observed by the Building. 
 19.
Landlord reserves the right to rescind any of these rules and regulations and to make future rules and regulations required for the safety, protection, and maintenance of the Building, the operation and preservation of good order thereof, and the
protection and comfort of the tenants and their employees and visitors, provided such rules and regulations do not materially and adversely affect or impact Tenant’s rights under this Lease. Such rules and regulations, when made and written
notice given Tenant, shall be binding as if originally included herein. 

  
 C-2 

 20. No awning or other projection shall be attached to the outside walls or windows of the
Building without the prior written consent of Landlord. No curtains, blinds, shades, drapes or screens shall be attached to or hung in, or used in connection with, any exterior window or door of the Premises, without the prior written consent of
Landlord. Any permitted awnings, projections, curtains, blinds, shades, drapes, screens and other fixtures must be of a quality, type, design, color, material and general appearance approved by Landlord, and shall be attached in the manner approved
by Landlord. 
 21. Except as provided in Section 3.4(b) of the Lease, signs on entry doors and directory boards shall be
inscribed, painted or affixed for Tenant by Landlord at the expense of Tenant, and shall be of a quality, quantity, type, design, color, size, style, composition, material, location and general appearance as established as the standard for the
building. No advertisement, sign, notice or other lettering shall be exhibited, inscribed, painted or affixed by Tenant on any part of the outside or inside of the Premises or of the Building, without the prior written consent of Landlord. In the
event of the violation of the foregoing, Landlord may remove same without any liability, and may charge the expense incurred by such removal to Tenant. 

22. The doors, relights, skylights, windows, sashes and sash doors that reflect or admit light or air into the halls, passageways or other
public places in the Building shall not be covered or obstructed by Tenant. Tenant shall not affix signs, posters, pictures, announcements, or any other object on the doors nor on or in windows of the Premises nor shall vases, plants, books, files,
parcels, or other articles be placed on the window sills, or in the public portions of the Building. 
 23. Tenant shall have the right to
use in common with other tenants and occupants of the Building the two (2) bicycle rack areas on a first-come, first-served basis, at no additional charge. 

  
 C-3 

 EXHIBIT D 

Commencement Date Agreement 

AGREEMENT made this     day of             , 2013, by
and between 405 HOWARD, LLC, a Delaware limited liability company, maintaining an office at c/o Langley Investment Properties, Inc., 1211 S.W. Fifth Avenue, Suite 2230, Portland, Oregon 97204 (“Landlord”) and FITBIT, INC., a
Delaware corporation, maintaining an office at                     , Suite     , San Francisco, California
(“Tenant”). 
 W I T N E S S E T H: 

WHEREAS, Tenant and Landlord entered into a certain lease dated
                 , 2013 (the “Lease”); and 

WHEREAS, Landlord and Tenant desire to specify the Commencement Date and certain other dates referred to in the Lease. 

NOW, THEREFORE, the parties hereto do hereby agree as follows: 

1. The Commencement Date is agreed to be
                    and the Expiration Date is agreed to be             
    , 20    . 
 2. It is further agreed that the Rent Commencement Date is
                 , 20    . 
 IN
WITNESS WHEREOF, the parties have hereunto caused to be set their respective hands and seals as of the date first above written. 
  

			
	 FITBIT, INC.
		405 HOWARD, LLC,
	 a Delaware corporation
		a Delaware limited liability company
		
	  

By:                  
                                         
              
		By:
                                         
                               
	 Print Name: 
		Print Name:
	 Print Title: 
		Print Title:

  
 D-1 

 EXHIBIT E 

Form of Letter of Credit 

BENEFICIARY: 
 405 HOWARD, LLC 

C/O LANGLEY INVESTMENT PROPERTIES, INC. 
 1211 SW FIFTH AVENUE,
SUITE 2230 
 PORTLAND, OREGON 97204 
 ATTENTION: SCOTT C.
LANGLEY 
 WITH A COPY OF ANY NOTICES SENT TO: 
 THE ASHFORTH
COMPANY 
 707 SUMMER STREET, 4TH FLOOR 
 STAMFORD, CONNECTICUT
06901 
 ATTENTION: MICHAEL POLLACK, ESQ. 
 APPLICANT: 

FITBIT, INC. 
 150 SPEAR STREET, SUITE 200 

SAN FRANCISCO, CA 94105 
 AS “TENANT” 

AMOUNT: US2,100,000.00 (TWO MILLION ONE HUNDRED 

THOUSAND AND NO/100 U.S. DOLLARS) 
 EXPIRATION
DATE:                  , 20     

LOCATION: SANTA CLARA, CALIFORNIA 
 LADIES AND
GENTLEMEN: 
 WE HEREBY ESTABLISH OUR IRREVOCABLE STANDBY LETTER OF CREDIT NO.
SVBSF            IN YOUR FAVOR. THIS LETTER OF CREDIT IS AVAILABLE BY SIGHT PAYMENT WITH OURSELVES ONLY AGAINST PRESENTATION AT THIS OFFICE OF THE FOLLOWING DOCUMENTS: 

 

	 	1.	THE ORIGINAL OF THIS LETTER OF CREDIT AND ALL AMENDMENT (S), IF ANY. 

  

	 	2.	YOUR SIGHT DRAFT DRAWN ON US IN THE FORM ATTACHED HERETO AS EXHIBIT “A”. 

  

	 	3.	A DATED CERTIFICATION PURPORTEDLY SIGNED BY AN AUTHORIZED OFFICER OR REPRESENTATIVE OF THE BENEFICIARY, FOLLOWED BY HIS/HER PRINTED NAME AND DESIGNATED TITLE, STATING EITHER OF THE FOLLOWING WITH INSTRUCTIONS IN
BRACKETS THEREIN COMPLIED WITH: 

  
 E-1 

 (A.) “[INSERT BENEFICIARY’S NAME], THE BENEFICIARY, IS ENTITLED TO DRAW
UPON SILICON VALLEY BANK IRREVOCABLE STANDBY LETTER OF CREDIT NO. SVBSF            UNDER THAT CERTAIN LEASE, DATED AS OF [INSERT DATE OF LEASE] BY AND BENEFICIARY AS LANDLORD AND FITBIT,
INC. AS TENANT (THE “LEASE”).” 
 OR 

                     
   (B.) “WITHIN SIXTY (60) DAYS PRIOR TO THE EXPIRATION DATE OF THIS LETTER OF CREDIT BENEFICIARY HAS NOT RECEIVED AN EXTENSION AT LEAST FOR ONE YEAR TO THE EXISTING LETTER OF CREDIT OR A REPLACEMENT LETTER OF CREDIT
SATISFACTORY TO THE BENEFICIARY.” 
 THE LEASE AGREEMENT MENTIONED ABOVE IS FOR IDENTIFICATION PURPOSES ONLY AND IT IS NOT INTENDED
THAT SAID LEASE AGREEMENT BE INCORPORATED HEREIN OR FORM PART OF THIS LETTER OF CREDIT. 
 PARTIAL AND MULTIPLE DRAWINGS ARE ALLOWED. THE ORIGINAL OF THIS
LETTER OF CREDIT MUST ACCOMPANY ANY DRAWINGS HEREUNDER FOR ENDORSEMENT OF THE DRAWING AMOUNT AND WILL BE RETURNED TO THE BENEFICIARY UNLESS IT IS FULLY UTILIZED. 

WE AGREE THAT WE SHALL HAVE NO DUTY OR RIGHT TO INQUIRE AS TO THE BASIS UPON WHICH BENEFICIARY HAS DETERMINED THAT THE AMOUNT IS DUE AND OWING
OR HAS DETERMINED TO PRESENT TO US ANY DRAFT UNDER THIS LETTER OF CREDIT, AND THE PRESENTATION OF SUCH DRAFT IN STRICT COMPLIANCE WITH THE TERMS AND CONDITIONS OF THIS LETTER OF CREDIT, SHALL AUTOMATICALLY RESULT IN PAYMENT TO THE BENEFICIARY. 

THIS LETTER OF CREDIT SHALL BE AUTOMATICALLY EXTENDED FOR AN ADDITIONAL PERIOD OF ONE YEAR, WITHOUT AMENDMENT, FROM THE PRESENT OR EACH FUTURE
EXPIRATION DATE UNLESS AT LEAST SIXTY (60) DAYS PRIOR TO THE THEN CURRENT EXPIRATION DATE WE SEND YOU A NOTICE BY REGISTERED MAIL/OVERNIGHT COURIER SERVICE AT THE ABOVE ADDRESS THAT THIS LETTER OF CREDIT WILL NOT BE EXTENDED BEYOND THE CURRENT
EXPIRATION DATE. IN NO EVENT SHALL THIS LETTER OF CREDIT BE AUTOMATICALLY EXTENDED BEYOND                  , 20    , WHICH SHALL BE THE FINAL
EXPIRATION DATE OF THIS LETTER OF CREDIT. 
 THIS LETTER OF CREDIT MAY ALSO BE CANCELED PRIOR TO ANY PRESENT OR FUTURE EXPIRATION DATE, UPON
RECEIPT BY SILICON VALLEY BANK BY OVERNIGHT COURIER OR REGISTERED MAIL (RETURN RECEIPT REQUESTED) OF THE ORIGINAL LETTER OF CREDIT AND ALL AMENDMENTS (IF ANY) FROM THE BENEFICIARY TOGETHER WITH A STATEMENT SIGNED BY AN

  
 E-2 

 
AUTHORIZED REPRESENTATIVE OF THE BENEFICIARY ON COMPANY LETTERHEAD STATING THAT THE LETTER OF CREDIT IS NO LONGER REQUIRED AND IS BEING RETURNED FOR CANCELLATION. 

THIS LETTER OF CREDIT IS TRANSFERABLE ONE OR MORE TIMES, BUT IN EACH INSTANCE ONLY TO A SINGLE BENEFICIARY AS TRANSFEREE AND ONLY UP TO THE THEN AVAILABLE
AMOUNT IN FAVOR OF ANY NOMINATED TRANSFEREE THAT IS THE SUCCESSOR IN INTEREST TO BENEFICIARY (“TRANSFEREE”), ASSUMING SUCH TRANSFER TO SUCH TRANSFEREE WOULD BE IN COMPLIANCE WITH THEN APPLICABLE LAW AND REGULATION, INCLUDING BUT NOT
LIMITED TO THE REGULATIONS OF THE U. S. DEPARTMENT OF TREASURY AND U. S. DEPARTMENT OF COMMERCE. AT THE TIME OF TRANSFER, THE ORIGINAL LETTER OF CREDIT AND ORIGINAL AMENDMENT(S), IF ANY, MUST BE SURRENDERED TO US AT OUR ADDRESS INDICATED IN THIS
LETTER OF CREDIT TOGETHER WITH OUR LETTER OF TRANSFER DOCUMENTATION AS PER ATTACHED EXHIBIT “B” DULY EXECUTED. THE CORRECTNESS OF THE SIGNATURE AND TITLE OF THE PERSON SIGNING THE TRANSFER FORM MUST BE VERIFIED BY BENEFICIARY’S BANK.
APPLICANT SHALL PAY OUR TRANSFER FEE OF  1⁄4 OF 1% OF THE TRANSFER AMOUNT (MINIMUM US$250.00) UNDER THIS LETTER OF CREDIT. ANY REQUEST FOR TRANSFER WILL BE
EFFECTED BY US SUBJECT TO THE ABOVE CONDITIONS. HOWEVER, ANY REQUEST FOR TRANSFER IS NOT CONTINGENT UPON APPLICANT’S ABILITY TO PAY OUR TRANSFER FEE. ANY TRANSFER OF THIS LETTER OF CREDIT MAY NOT CHANGE THE PLACE OR DATE OF EXPIRATION OF THE
LETTER OF CREDIT FROM OUR ABOVE SPECIFIED OFFICE. EACH TRANSFER SHALL BE EVIDENCED BY OUR ENDORSEMENT ON THE REVERSE OF THE LETTER OF CREDIT AND WE SHALL FORWARD THE ORIGINAL OF THE LETTER OF CREDIT SO ENDORSED TO THE TRANSFEREE. 

DRAFT(S) AND DOCUMENTS MUST INDICATE THE NUMBER AND DATE OF THIS LETTER OF CREDIT. 

WE HEREBY AGREE THAT DRAFTS DRAWN UNDER AND IN ACCORDANCE WITH THE TERMS AND CONDITIONS OF THIS LETTER OF CREDIT SHALL BE DULY HONORED UPON
PRESENTATION TO: SILICON VALLEY BANK, 3003 TASMAN DRIVE, 2ND FLOOR, MAIL SORT HF210, SANTA CLARA, CALIFORNIA 95054, ATTENTION: GLOBAL FINANCIAL SERVICES – STANDBY LETTER OF CREDIT DEPARTMENT
(THE “BANK’S OFFICE”). PRESENTATIONS MAY BE MADE IN PERSON OR BY OVERNIGHT COURIER DELIVERY SERVICE OR BY FACSIMILE ON OR BEFORE OUR CLOSE OF BUSINESS ON OR BEFORE THE EXPIRATION DATE OF THIS CREDIT. 

SHOULD BENEFICIARY WISH TO MAKE PRESENTATIONS UNDER THIS LETTER OF CREDIT ENTIRELY BY FACSIMILE TRANSMISSION (IT NEED NOT TRANSMIT THE LETTER OF CREDIT). IT
MAY DO SO IN LIEU OF PRESENTING THE PHYSICAL DOCUMENTS OTHERWISE REQUIRED FOR PRESENTATION UNDER THE TERMS OF 

  
 E-3 

 
THIS LETTER OF CREDIT. PROVIDED HOWEVER, SHOULD IT ELECT TO DO SO, EACH SUCH FACSIMILE TRANSMISSION SHALL BE MADE ON A BUSINESS DAY AT FAX NO. (408) 496-2418 OR (408) 969-6510; AND
SIMULTANEOUSLY UNDER TELEPHONE ADVICE TO: (408) 654-6274 OR (408) 654-7127 OR (408) 654-7716 OR (408) 654-3035 AND, ON THE DAY OF SUCH TRANSMISSION, BE IMMEDIATELY FOLLOWED BY BENEFICIARY’S SENDING TO US ALL OF THE ORIGINALS
OF SUCH FAXED DOCUMENTS TOGETHER WITH THE ORIGINAL OF THIS LETTER OF CREDIT BY OVERNIGHT MAIL OR COURIER SERVICE TO THE BANK’S OFFICE AS DESCRIBED ABOVE. PROVIDED FURTHER, HOWEVER, WE WILL DETERMINE TO HONOR OR DISHONOR ANY SUCH FACSIMILE
PRESENTATION PURELY ON THE BASIS OF OUR EXAMINATION OF SUCH FACSIMILE PRESENTATION, AND WILL NOT EXAMINE THE ORIGINALS. 
 AS USED HEREIN, THE TERM
“BUSINESS DAY” MEANS A DAY ON WHICH WE ARE OPEN AT OUR ABOVE ADDRESS IN SANTA CLARA, CALIFORNIA TO CONDUCT OUR LETTER OF CREDIT BUSINESS. NOTWITHSTANDING ANY PROVISION TO THE CONTRARY IN THE UCP (AS HEREINAFTER DEFINED), IF THE EXPIRATION
DATE OR THE FINAL EXPIRATION DATE IS NOT A BUSINESS DAY THEN SUCH DATE SHALL BE AUTOMATICALLY EXTENDED TO THE NEXT SUCCEEDING DATE WHICH IS A BUSINESS DAY. 

WE HEREBY ENGAGE WITH YOU THAT DRAFT(S) DRAWN AND/OR DOCUMENTS PRESENTED UNDER AND IN ACCORDANCE WITH THE TERMS AND CONDITIONS OF THIS LETTER
OF CREDIT SHALL BE DULY HONORED UPON PRESENTATION TO SILICON VALLEY BANK, IF PRESENTED ON OR BEFORE THE EXPIRATION DATE OF THIS CREDIT. 
 IF ANY
INSTRUCTIONS ACCOMPANYING A DRAWING UNDER THIS LETTER OF CREDIT REQUEST THAT PAYMENT IS TO BE MADE BY TRANSFER TO YOUR ACCOUNT WITH ANOTHER BANK, WE WILL ONLY EFFECT SUCH PAYMENT BY FED WIRE TO A U.S. REGULATED BANK, AND WE AND/OR SUCH OTHER BANK
MAY RELY ON AN ACCOUNT NUMBER SPECIFIED IN SUCH INSTRUCTIONS EVEN IF THE NUMBER IDENTIFIES A PERSON OR ENTITY DIFFERENT FROM THE INTENDED PAYEE. 

THIS LETTER OF CREDIT IS SUBJECT TO THE UNIFORM CUSTOMS AND PRACTICE FOR DOCUMENTARY CREDITS (2007 REVISION), INTERNATIONAL CHAMBER OF
COMMERCE, PUBLICATION NO. 600 (THE “UCP”). 
  

					
	 SILICON VALLEY BANK,
 (FOR S V BANK
USE ONLY)
				(FOR S V BANK USE ONLY)
			
	  
				  

	AUTHORIZED SIGNATURE				AUTHORIZED SIGNATURE

  
 E-4 

 EXHIBIT “A” 

SIGHT DRAFT/BILL OF EXCHANGE 

 

DATE:
                                         
                                         
                                         
                 REF. NO.          

AT SIGHT OF THIS BILL OF EXCHANGE 

PAY TO THE ORDER OF
                                         
                                         
                                         
                  

  US$                       
                                      

        U.S. DOLLARS 

                          
                                         
                                         
                                         
                                         
               
 “DRAWN UNDER SILICON VALLEY
BANK, SANTA CLARA, CALIFORNIA, IRREVOCABLE STANDBY LETTER OF CREDIT NUMBER NO. SVBSF             

DATED                  ,
20    ” 
  

									
	TO:		SILICON VALLEY BANK						
			  
 3003 TASMAN DRIVE
				(INSERT NAME OF BENEFICIARY)		
			SANTA CLARA, CA 95054				  
		
							Authorized Signature		

 
 GUIDELINES TO PREPARE THE SIGHT DRAFT OR BILL OF EXCHANGE: 

 

	1.	DATE             INSERT ISSUANCE DATE OF DRAFT OR BILL OF EXCHANGE. 

  

	2.	REF. NO.     INSERT YOUR REFERENCE NUMBER IF ANY. 

  

	3.	PAY TO THE ORDER OF:         INSERT NAME OF BENEFICIARY 

  

	4.	US$             INSERT AMOUNT OF DRAWING IN NUMERALS/FIGURES. 

  

	5.	U.S. DOLLARS     INSERT AMOUNT OF DRAWING IN WORDS. 

  

	6.	LETTER OF CREDIT NUMBER INSERT THE LAST DIGITS OF OUR STANDBY L/C NUMBER THAT PERTAINS TO THE DRAWING. 

  

	7.	DATED     INSERT THE ISSUANCE DATE OF OUR STANDBY L/C. 

  

	 	NOTE: BENEFICIARY SHOULD ENDORSE THE BACK OF THE SIGHT DRAFT OR BILL OF EXCHANGE 

  

	 	AS YOU WOULD A CHECK. 

 IF YOU NEED FURTHER ASSISTANCE IN COMPLETING THIS SIGHT DRAFT OR BILL OF EXCHANGE,
PLEASE CALL OUR L/C PAYMENT SECTION AT (408) 654-6274 OR (408) 654-7127 OR (408) 654-3035 OR (408) 654-7716 OR (408) 654-7128. 

  
 E-5 

 EXHIBIT “B” 

DATE: 
  

	TO:	SILICON VALLEY BANK 

	 	3003 TASMAN DRIVE 

	 	SANTA CLARA, CA 95054 

  

	 	ATTN:	 GLOBAL FINANCIAL SERVICES 

	 	 	   STANDBY LETTERS OF CREDIT 

  

	 	RE:	SILICON VALLEY BANK IRREVOCABLE STANDBY LETTER OF CREDIT NO. 

 GENTLEMEN: 

FOR VALUE RECEIVED, THE UNDERSIGNED BENEFICIARY HEREBY IRREVOCABLY TRANSFERS TO: 

 

	
	
	  
 (NAME OF
TRANSFEREE)

	
	  

(ADDRESS)

 ALL RIGHTS OF THE UNDERSIGNED BENEFICIARY TO DRAW UNDER THE ABOVE LETTER OF CREDIT UP TO ITS AVAILABLE AMOUNT AS SHOWN
ABOVE AS OF THE DATE OF THIS TRANSFER. 
 BY THIS TRANSFER, ALL RIGHTS OF THE UNDERSIGNED BENEFICIARY IN SUCH LETTER OF CREDIT ARE TRANSFERRED TO THE
TRANSFEREE. TRANSFEREE SHALL HAVE THE SOLE RIGHTS AS BENEFICIARY THEREOF, INCLUDING SOLE RIGHTS RELATING TO ANY AMENDMENTS, WHETHER INCREASES OR EXTENSIONS OR OTHER AMENDMENTS, AND WHETHER NOW EXISTING OR HEREAFTER MADE. ALL AMENDMENTS ARE TO BE
ADVISED DIRECT TO THE TRANSFEREE WITHOUT NECESSITY OF ANY CONSENT OF OR NOTICE TO THE UNDERSIGNED BENEFICIARY. 
 THE ORIGINAL OF SUCH LETTER OF CREDIT IS
RETURNED HEREWITH, AND WE ASK YOU TO ENDORSE THE TRANSFER ON THE REVERSE THEREOF, AND FORWARD IT DIRECTLY TO THE TRANSFEREE WITH YOUR CUSTOMARY NOTICE OF TRANSFER. 
  

							
	SINCERELY,						 
							SIGNATURE AUTHENTICATED
			  

(BENEFICIARY’S NAME)
				.
			  
 (SIGNATURE OF
BENEFICIARY)
				THE NAME(S) TITLE(S), AND SIGNATURE(S) CONFORM TO THAT/THOSE ON FILE WITH US FOR THE COMPANY AND THE SIGNATURE(S) IS/ARE AUTHORIZED TO EXECUTE THIS INSTRUMENT.
			  
				WE FURTHER CONFIRM THAT THE COMPANY HAS BEEN IDENTIFIED APPLYING THE APPROPRIATE DUE DILIGENCE AND ENHANCED DUE DILIGENCE AS REQUIRED BY THE BANK SECRECY ACT AND ALL ITS
SUBSEQUENT AMENDMENTS
			(PRINTED NAME AND TITLE)				 
							  

(NAME OF BANK)
  

							  

(ADDRESS OF BANK)
  

							  

(CITY, STATE, ZIP CODE)
  

							  

(AUTHORIZED SIGNATURE)
  

							  

(PRINTED NAME AND TITLE)
  

							
 
 (TELEPHONE
NUMBER)

  
 E-6 

 SCHEDULE 1 

Approved Test – Fit 
  

 

 SCHEDULE 1 (continued) 

 
 

 

 SCHEDULE 2 

Pre-Approved Sub-Contractors 
  

			
	ELECTRICAL		
			Metropolitan Electric
			McMillian Electric
			Young Electric
	PLUMBING		
			AR&B
			DPW Inc.
			Critchfield Mechanical, Inc.
	SHEET ROCK		
	FRAMING/DEMO		
			RMR Construction
			California Drywall Company
	PAINTING/WALL		
	COVERING		
			Russell Hinton Co.
			Monticelli Co.
	 HVAC CONTROLS
		
			Critchfield Mechanical, Inc.
			AR&B
	 GLASS GLAZING
		Mission Glass Company
			Waiters & Wolf Glass
	 FIRE SPRINKLERS
		
			AR&B
			Ayoob & Peery
			Pribuss Engineering
	 SECURITYSYSTEMS
		
			McMillan Security
	DATA CABLING		
			Young Communication
			Metropolitan Electric
			Capitol Communications
	 ACCESS FLOORING
		
			Bayside Interiors Inc.

 SCHEDULE 3 

Hardware Lab Substances 
  

	•	 	Isopropyl Alcohol, 99.9% purity 

  

	•	 	Solder, 60/40 with flux core 

  

	•	 	Solder, 63/37 with flux core 

  

	•	 	Solder paste, Chipquik, no clean 

  

	•	 	Solder paste, Chipquik, low heat 

  

	•	 	Liquid solder flux, no clean 

  

	•	 	Liquid solder flux, organic water-soluble 

  

	•	 	Rosin-based flux 

  

	•	 	Spray paint, aerosol can 

  

	•	 	Paint thinner 

  

	•	 	Bestine Solvent/Cleaner (for rubber cement) 

  

	•	 	Canned compressed air 

  

	•	 	Canned refrigerant, electronic cooler 

  

	•	 	WD-40 lubricant 

  

	•	 	Silicone lubricant 

  

	•	 	Acetone cleanerEX-10.7

 Exhibit 10.7 

[*] Certain confidential information contained in this document, marked by brackets, has been omitted and filed separately with the
Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 
 Flextronics Manufacturing
Services Agreement 
 This Flextronics Manufacturing Services Agreement
(“Agreement”) is entered into this 19th day of March, 2015 (the “Effective Date”) by and between, on the one hand Fitbit International Limited, a company
organized under the laws of Ireland, with an address of 70 Sir John Rogerson’s Quay, Dublin 2, Ireland (“Customer”) and for purposes of Section 1.3 only, Fitbit, Inc., a company organized under
the laws of the State of Delaware, with an address of 405 Howard Street, Suite 550, San Francisco, California 94105 (“Fitbit”), and, on the other hand, Flextronics Sales & Marketing (A-P) Ltd., a
company organized under the laws of Mauritius, having an address of Suite 802, St. James Court, St. Denis Street, Port Louis, Mauritius (“Flextronics”).  

Customer desires to engage Flextronics to perform manufacturing and other related services upon the terms and conditions set forth in this
Agreement. The parties agree as follows: 
  

	1.	DEFINITIONS; SCOPE 

 1.1. Flextronics and Customer agree that any capitalized terms used
herein shall have the meanings set forth in this Agreement and Exhibit 1, which is attached hereto and incorporated herein by reference. 

1.2. Each of Customer’s Affiliates may from time to time purchase Products under this Agreement as if it is the “Customer”
hereunder. This Agreement will apply to all purchases of the Products by the Customer and or its Affiliates from Flextronics and/or its Affiliates. Customer shall be liable for each such Affiliate’s compliance with this Agreement and any breach
of this Agreement by any such Affiliate. In the event of any breach of this Agreement by any Customer Affiliate, Flextronics shall be entitled to terminate this Agreement for breach in accordance with the provisions hereof, and to pursue all
remedies to which Flextronics is entitled as a result of such breach, as if Customer was the party in breach. 
 1.3. Fitbit hereby
unconditionally guarantees and shall be liable for the performance of the terms of this Agreement and the payment of all debts, liabilities, and damages arising from the acts or omissions of Customer or any Affiliates of Customer arising in
connection with this Agreement (the “Guaranteed Obligations”). This guarantee is absolute, continuing, unlimited, and independent and will not be affected or released for any reason. Fitbit waives: [*]. Until the
Guaranteed Obligations have been paid and performed in full, Fitbit shall not enforce any right of subrogation. 
 1.4. Flextronics shall
ensure that all Flextronics’ Affiliates that manufacture Products or Materials hereunder, procure Materials hereunder, or are otherwise involved in the performance of any of Flextronics’ obligations under this Agreement comply with all
terms and conditions of this Agreement. Flextronics shall be liable for each such Affiliate’s compliance with this Agreement and any breach of this Agreement by any such Affiliate. In the event of any breach of this Agreement by any
Flextronics’ Affiliate, Customer shall be entitled to terminate this Agreement for breach in accordance with the provisions hereof, and to pursue all remedies to which Customer is entitled as a result of such breach, as if Flextronics was the
party in breach. 
 1.5. The parties hereby terminate that certain interim agreement entered into by the parties dated November 9, 2012
(the “Interim Agreement”), with such termination effective as of the Effective Date. The terms and conditions of the Interim Agreement shall continue to apply as provided therein with respect to all performance, liability,
obligations and rights of the parties arising under the Interim Agreement prior to the Effective Date (i.e., products manufactured by Flextronics and shipped to Fitbit from Flextronics prior to the Effective Date shall be governed under the Interim
Agreement and Products manufactured by Flextronics and shipped to Fitbit from Flextronics on or after the Effective Date shall be governed by this Agreement). 
  

	2.	MANUFACTURING SERVICES 

 2.1. Work. Customer hereby engages Flextronics to
perform the Work in accordance with the terms and conditions of this Agreement. “Work” shall mean to procure certain Materials and to manufacture, assemble, test and ship certain products (“Product(s)”)
pursuant to the applicable detailed written Specifications. The 

  

					
			- 1 -		*Confidential Treatment Requested

 
“Specifications” for each Product or revision thereof, shall include the applicable Bill of Materials, designs, schematics, assembly drawings, manufacturing process requirements
(including any applicable Material sourcing and quality requirements (including Production Materials) and manufacturing process quality requirements), test specifications, current revision number, and associated Approved Vendor List, each of which
shall be as provided by Customer through the PDM System. The Specifications shall be maintained in accordance with the terms of this Agreement and are incorporated herein by this reference. In case of any conflict between the Specifications and this
Agreement, this Agreement shall prevail. If either party becomes aware of any such conflict, it shall promptly notify the other party thereof. This Agreement does not include any new product introduction or product prototype services related to the
Products. In the event that Customer requires any such services, the parties will enter into a separate agreement or purchase order relating thereto. Flextronics agrees that as of the Effective Date, Flextronics is manufacturing, assembling testing
and shipping Products for Customer only at its location in Doumen, China. Flextronics and Customer may mutually agree from time to time to allow for the manufacture, assembling testing and shipping of Products at additional Flextronics locations.

 2.2. Engineering Changes. 

(a) Either party may at any time propose changes to the relevant manufacturing processes, Specifications or the Products by a written
Engineering Change Order (each, an “ECO”) to the other party via the PDM System or through another means implemented by Customer and accepted by Flextronics. 

(b) The recipient of an ECO will use commercially reasonable efforts to provide a detailed response within [*] working days of receipt. If the
ECO is marked or otherwise communicated to the recipient as urgent, the recipient will use all reasonable efforts to provide a detailed response within [*] working day of receipt. 

(c) Flextronics will advise the Customer of the likely impact of an ECO (including, delivery scheduling, potential Excess Materials [*],
Specifications, manufacturing processes, and Prices) on the provisions of any relevant Purchase Order(s) and/or Forecast. 
 (d) Flextronics
shall not unreasonably withhold, delay or condition its agreement to an ECO and the parties will endeavor to agree and implement all ECOs at the earliest opportunity. Customer may condition or withhold its approval of any ECO proposed by Flextronics
in its sole discretion. Notwithstanding the foregoing, no ECO shall be implemented without each party’s prior written consent. 
 (e)
Any Excess Materials [*] resulting from an ECO shall be identified and discussed and the disposition with respect thereto shall be agreed upon by the parties as part of the ECO process. [*] shall be responsible for any such identified Excess
Materials [*] resulting from any mutually-agreed ECO. 
 (f) Each party shall bear its own costs of assessing an ECO. If Flextronics
reasonably determines that any ECO request is excessive because the volume of ECO requests during any [*] month period exceeds customary levels, then at such time it shall notify Customer thereof. Following such a notification, the parties shall
negotiate in good faith with respect to the allocation of the costs of assessing such ECO. Any costs to implement an ECO (including, as applicable, increases to the costs of Materials, Material handling charges, process and tooling charges,
administrative charges, engineering charges, and evaluation and testing costs) will be agreed to by the parties as part of the ECO process and shall be incurred as agreed. 

(g) Until an ECO has been approved in writing by both parties in accordance with this Section, including, agreeing to Excess Material [*]
liability and allocation of implementation costs related thereto, the parties will continue to perform their obligations under this Agreement without taking account of that ECO. All relevant records relating to ECOs will be maintained by Customer or
through another means implemented by Customer. 
 2.3. Tooling. Customer shall pay for or otherwise obtain, own and consign to
Flextronics any tooling and related equipment, including, manufacturing fixtures and jigs, specifically necessary for manufacturing, assembling, and/or testing Products under this Agreement as reasonably determined by the Customer with
Flextronics’ input (the “Tooling”). Without Customer’s prior written consent, Flextronics shall not at any time use any Tooling for the production of goods or products or the performance of services for or on behalf of any
third party or for any purposes other than that performance of the Work for Customer pursuant to this Agreement. For so long as the Tooling [*]: (i) be responsible for any loss of, or damage to, such Tooling, normal wear and tear excepted;
(ii) maintain Tooling in good condition and repair; and (iii) will provide all necessary calibration services for such Tooling. [*] shall be responsible for the costs of routine maintenance with respect to the Tooling. For any costs with
respect to the Tooling that [*] shall be responsible for those agreed-upon costs, such as for the non-routine maintenance, repair, calibration and/or replacement of the Tooling. [*] shall be liable for the timely replacement of

  

					
			- 2 -		*Confidential Treatment Requested

 
any [*] Tooling that is damaged or lost while [*]. Each month Flextronics will provide an asset log accompanied with a depreciation schedule related to the Tooling. Upon Customer’s request
(during or after the Term of this Agreement), subject to Customer’s payment of all undisputed amounts due under this Agreement, Flextronics will cooperate with Customer in all ways reasonably necessary to facilitate the Customer-directed
destruction, delivery, or other disposition of any Tooling. Flextronics shall carry inventories of spare Tooling at costs to be agreed upon with Customer. 

2.4. Non-Recurring Expenses; Software. Customer shall pay for or otherwise obtain, own and consign to Flextronics any software
specifically necessary for manufacturing, assembling, and/or testing Products under this Agreement and shall pay for any other non-recurring expenses, in each case as set forth in Flextronics’ quotation approved by Customer or as otherwise
pre-approved by Customer in writing. As between Customer and Flextronics, all software that Customer provides to Flextronics shall be Customer’s Intellectual Property as set forth in Section 10.1 and any software (e.g., testing related)
that Customer engages Flextronics to develop shall be Customer’s Intellectual Property as provided under Section 10.3. 
 2.5.
Cost Reduction Projects. Flextronics will use commercially reasonable efforts to reduce the Price of the Products, including, by reducing the cost of the Materials. Any Price reduction will be implemented per the quarterly pricing
review process set forth in Section 3.6. Any Price reduction that is [*] shall be realized in the Price pursuant to the schedule below. All other Price reductions shall be fully realized in the Price in the [*] in which the price reduction
is implemented. If Flextronics incurs any out of pocket costs related to the implementation of the Price reduction, then the parties shall [*]. Customer will in good faith evaluate and approve or disapprove in its sole discretion viable
“off-AML” suppliers and alternate parts proposed by Flextronics for the purposes of cost reduction. 
 Schedule for Cost
Reduction Implementation 
  

					
	 Period
	  	Cost reduction realized in Price	 
	 [*]
	  	 	[*	] 
	 [*]
	  	 	[*	] 
	 [*]
	  	 	[*	] 

  

	3.	PURCHASE ORDERS; FORECASTS; PRICING; PAYMENT 

 3.1 Purchase Orders;
Forecasts. On a quarterly basis, or on a more frequent basis as the parties may mutually agree, Customer will provide Flextronics with updated Purchase Orders and Forecasts for the Products so as to maintain a minimum of rolling [*] months
of Forecast coverage at all times, which shall include the following: 
 (a) Purchase Order(s) for Customer’s Product requirements for
the applicable quarter in the form of either: (i) individual Purchase Orders covering such period (each, an “Individual Purchase Order”); or (ii) a blanket Purchase Order (each, a “Blanket Purchase Order”)
covering such period, which will also be incorporated into the monthly Product requirements set forth in the Forecast, and under which Customer may issue release orders (each, a “Release Order”) from time to time whereby Customer
will identify the specific number of Products and delivery dates therein. Except where otherwise specifically identified herein, the term “Purchase Order” refers to, and includes, Individual Purchase Orders, Blanket Purchase Orders,
Release Orders and Risk Buys. If during any quarter the Forecast is adjusted such that the accepted Purchase Order(s) do not cover the Product requirements set forth for such quarter in the Forecast, then Customer shall adjust the Purchase Order(s)
to cover such amounts. Customer may approve additional purchases of Materials to cover the difference between the Forecast and the accepted Purchase Orders, or for any other approved reasons, in additional written acknowledgements to Flextronics
(each, a “Risk Buy”). 
 (b) A rolling forecast (each, a “Forecast”) of Customer’s intended purchases
of Products for the subsequent [*] month period. Customer will use reasonable efforts to ensure that each Forecast is accurate; provided, however, the parties acknowledge and agree that each such Forecast is a good faith estimate of Customer’s
anticipated Product requirements over the applicable period based on information then available to Customer. 

  

					
		  	- 3 -	  	*Confidential Treatment Requested

 Customer’s liability with respect to any Purchase Order and any Forecast shall be as specifically set forth
in Sections 4.2, 5.4 and 6. 
 3.2 Purchase Order Acceptance. Purchase Orders issued
by Customer to Flextronics shall be automatically deemed accepted by Flextronics; provided, however, that Flextronics may reject any Purchase Order if the Prices, lead times or other terms of the Purchase Order are inconsistent with this Agreement,
or if the Purchase Order would exceed Customer’s then-approved Credit Limit established in accordance with Section 3.8(b). Flextronics will notify the Customer of any such rejection within [*] working days of receipt thereof. If it does
not so notify Customer thereof within such time period, then Flextronics shall be deemed to have waived its right to reject the applicable Purchase Order.  

3.3 Purchase Order Rejection. If Flextronics rejects a Purchase Order pursuant to Section 3.2, then Flextronics will in the
applicable notice inform Customer of the exact reason(s) for rejection and thereafter work with the Customer in good faith to resolve any issues therewith as soon as reasonably practicable under the circumstances. If Flextronics attempts to reject a
Purchase Order that is consistent with the terms of this Agreement and fails to resolve such issue within [*] calendar days of its attempted rejection, then: (i) Customer may have the Products that are the subject of such rejected Purchase
Order [*]; (ii) Flextronics shall [*]; and (iii) Customer shall have [*] with respect to such Purchase Order, including the Materials that would have otherwise been used to fulfill such Purchase Order. Further, in the event of a [*]
pursuant to this Section, then Flextronics will cooperate related thereto in accordance with Section 11.4. 
 3.4 Purchase Order
Precedence. Regardless any of the terms and conditions contained on any of Customer’s Purchase Orders, Flextronics’ sales order confirmation or any other similar documents, the terms and conditions of this Agreement shall govern
Customer’s purchases of Products pursuant hereto. For clarity, this Agreement shall supersede and exclude any terms and conditions found on the Customer’s or its Affiliates’ Purchase Orders or Flextronics or its Affiliates’ sales
order confirmations, which shall be deemed deleted. Each Purchase Order will describe in more detail the required Product (and any Work) to be provided by Flextronics and will include, at a minimum, the description and Price per unit of Products
being ordered, the quantities of Products ordered, Product revision details and such other information as the parties may agree is required. Purchase Orders may be issued in writing, by mail, facsimile, or by other electronic means as agreed to by
the parties from time to time. 
 3.5 Production Disruption. In the event that
Flextronics experiences a disruption in its ability to provide Product for [*] consecutive calendar days, Flextronics’ facilities are incapacitated for any reason for [*] consecutive calendar days, or Flextronics has reasonable belief that its
facilities will be incapacitated for [*] consecutive calendar days, then Flextronics shall immediately notify Customer and implement Flextronics’ business continuity plan then in place, which Flextronics shall
make available for Customer’s review upon request. In the event of such a disruption, then (i) Customer may have the Products that are the subject of such disruption [*]; (ii) Customer may purchase from Flextronics, [*], all or any
part of any Materials, Work-In-Progress or Finished Products that Flextronics has on hand, and Flextronics will, at Customer’s request, transfer to Customer any open purchase orders Flextronics has with any Suppliers related to the purchase of
Materials; and (iii) [*]; provided however, if Flextronics notifies Customer prior to the [*] then the parties shall [*]. Further, in the event of a [*] pursuant to this Section, then [*] will cooperate related thereto in accordance with
Section 11.4.  
 3.6 Pricing 

(a) Prices will be subject to review by the parties on a quarterly basis (and at such other times as may be agreed) per a mutually agreed to
quarterly pricing review and reconciliation process. 
 (b) Changes to Prices, and the manner and timing of their implementation, will be
agreed by the parties on a fair and reasonable basis through such quarterly review and reconciliation process. 
 (c) Prices will be based
on the Costs of Materials, actual Material overhead costs, actual cycle time and labor rates, SG&A [*] as of the Effective Date), and profit margin [*] as of the Effective Date) in accordance with the pricing model agreed to by the parties. 

  

					
			- 4 -		*Confidential Treatment Requested

 (d) Reduction in Prices will be handled pursuant to Section 2.5 above. Any potential Price
increases will be identified by the parties and must be agreed to in writing by the Customer before any implementation thereof; provided, however, that Flextronics and Customer will [*]. 

(e) The parties shall discuss [*]. 

(f) All Prices are exclusive of federal, state and local excise, sales, use, value-added, and similar transfer taxes, Customer shall be
responsible for all such taxes; provided that, Flextronics shall be solely liable for all taxes on Flextronics’s net income. Flextronics shall not charge Customer for any taxes that are exempted if Customer provides Flextronics with a valid
exemption certificate or other acceptable notice from a governmental authority; provided that, Customer bears all costs and pays any required bonds or other amounts necessary for it to obtain and maintain such exemptions. 

3.7 Payment. All payments owed by Customer to Flextronics under this Agreement shall be stated and paid in U.S. Dollars.
Flextronics will invoice Customer on, or as soon as reasonably practicable after, the delivery date of the applicable Products. Customer agrees to pay the undisputed amounts of any proper invoices it receives pursuant to this Agreement from
Flextronics in U.S. Dollars within [*] calendar days of the date of its receipt of the invoice. If Customer disputes any amounts contained on any invoice it will notify Flextronics thereof and the nature of the dispute in writing, in which case
Customer shall pay all undisputed amounts and notify Flextronics of the dispute promptly following receipt of the invoice. Thereafter, the parties will work in good faith to resolve such dispute as promptly as practicable. Upon resolution of the
dispute, Flextronics shall resubmit an invoice to Customer reflecting such agreed upon resolution, and payment shall be due thereon within [*] calendar days from the date of Customer’s receipt of any such modified invoice. 

3.8 Late Payment and Credit. 

(a) If Customer fails to make payment on any correct invoice by the due date, Flextronics shall notify Customer in writing of Customer’s
failure to pay, and Customer shall have [*] working days from the date of Customer’s receipt of such notice to pay or to dispute all or a portion of the invoice pursuant to the procedures set forth in Section 3.7. If the Customer again
fails to make payment or notify Flextronics that such invoice is in dispute within such [*] working day period, then Flextronics may, in addition to its other rights and remedies, upon written notice to Customer, [*] until payment is made or the
issue is otherwise resolved. 
 (b) On not more than a quarterly basis, Customer shall provide Flextronics with reasonably
detailed and accurate financial information in order to allow Flextronics to determine the credit limit that Flextronics is willing to extend to Customer for outstanding exposure to Flextronics (the “Credit
Limit”). The Credit Limit as of the Effective Date is USD[*]. Customer’s ability to submit Forecasts and Purchase Orders will be limited to the then-current Credit Limit, provided that, if Flextronics reasonably
determines that based on the then-current Purchase Orders and Forecast Customer’s total credit exposure with Flextronics is or would be in excess of its then-current Credit Limit, then Flextronics shall provide written notice thereof to
Customer [*]. For clarity, Flextronics acknowledges that all non-public information provided by Customer is Confidential Information of Customer and shall be handled at all times in accordance with Section 13.1. Notwithstanding the foregoing,
if at any time Customer commences filing quarterly and annual reports with the United States Securities and Exchange Commission, then Customer shall have no further obligation to provide financial information to Flextronics hereunder.

  

	4.	MATERIALS PROCUREMENT; CUSTOMER RESPONSIBILITY FOR MATERIALS 

 4.1. Quarterly
BOM & Materials Review. By the end of the [*] week of each quarter, or as otherwise agreed by authorized representatives of the parties from time to time, Customer will provide Flextronics with a report indicating the pricing,
Materials Procurement Lead Time, NCNR status, and MOQ for every Material on the Bill of Materials for each Product, and highlighting any changes from the previous quarter. Within [*] weeks of Flextronics receipt of such report, it shall review such
report and either confirm its agreement therewith or object thereto and provide Customer reasonable detail as to the basis for objection. If any objection arises, then the parties shall work in good faith to resolve such objection as soon as
reasonably practicable under the circumstances in order to finalize the Materials report. Based on such agreed upon Materials report, the parties will then determine the Price (in accordance with Section 3.6), Lead Time and availability for
each Product for the upcoming quarter. 

  

					
			- 5 -		*Confidential Treatment Requested

 4.2. Materials Commitment; Authorization to Procure Materials. Flextronics shall be
entitled to procure Materials in accordance with the agreed Materials Procurement Lead Times, NCNR status and MOQs (along with any economic buy, last-time buy, and other volume purchases, in each case that are pre-approved in writing by an
authorized representative of Customer) as required to allow Flextronics to meet the then-current [*] (such purchases of Materials constituting the “Materials Commitment”). For any Materials within the Materials Commitment that
become Excess Materials [*] as a result of Customer delaying, rescheduling or cancelling any Purchase Order for the Products in accordance with Section 5.4, Customer will be liable for such Excess Materials in accordance with Section 6.
Flextronics will be solely liable for any Materials ordered outside, or in excess, of the Materials Commitment. 
 4.3. Approved
Vendors; Materials Procurement. Customer shall provide to Flextronics and maintain an Approved Vendor List or AVL. Flextronics shall purchase the Materials (including the Production Materials) from only those respective Suppliers on the
current AVL and shall incorporate only those Materials into the Products and use only those Materials in manufacturing the Products. Flextronics shall not purchase, introduce, substitute or use any other materials from any other supplier (i.e.,
other than those Materials (including Production Materials) specified by Customer in the Specifications). To use other suppliers or other materials, Flextronics must obtain Customer’s prior consent through an approved Engineering Change Order
pursuant to Section 2.2. Upon reasonable request by Customer, Flextronics will provide appropriate financial, testing, reference, and other information relating to the qualifications, quality, financial viability and reliability of any such
proposed new supplier. Customer will provide Flextronics and its Affiliates the opportunity to be included on AVLs for Materials that Flextronics can supply, if Flextronics or the applicable Affiliate is competitive with other Suppliers with respect
to reasonable and unbiased criteria established by Customer from time to time. If Customer requires Flextronics to procure Materials on terms and conditions with the Supplier that are based on a written agreement between Customer and such Supplier,
then Flextronics will do so; provided that, [*]. If as a result of [*] in violation of any such terms and conditions between Customer and any Supplier that have been made known to and acknowledged in writing [*] Supplier to the pricing or
availability for any Materials, [*]. If the need for any such an adjustment arises, the parties shall work in good faith to minimize the impact thereof. 

4.4. Customer Consigned Materials. Some Materials utilized in the manufacturing of the Products may be consigned by Customer to
Flextronics. Flextronics is responsible for timely placement of purchase orders upon Customer for consigned Materials based upon the Materials Commitment. Customer will use commercially reasonable efforts to deliver such ordered Materials to
Flextronics’ designated facility on or before Flextronics’ requested delivery date unless Customer notifies Flextronics of an alternative delivery date. For any such orders not placed by [*] within reasonable lead times for such Materials
(as established by the parties from time to time) following the parties establishing the applicable Materials Commitment, any [*] necessary to meet Flextronics’ requested delivery dates shall be the sole responsibility of [*]. All Customer
consigned Materials that were paid for by Customer shall be, and remain, the property of Customer until Flextronics purchases such Materials from Customer. Flextronics shall provide the appropriate care and control of all Customer consigned
Materials in the same way as with Flextronics-owned materials that are of a similar nature, but no less than a commercially reasonable level of care and control. [*] for the timely replacement of any [*] that are damaged or lost while in [*].
Flextronics shall provide Customer a monthly report of Customer consigned Materials in its possession or under its control. 
 4.5.
Materials Warranties.  
 (a) With respect to any Materials that are designed and manufactured by Flextronics and are
incorporated into a BOM for any Product, Flextronics agrees that such Materials shall be [*]. 
 (b) Flextronics shall use commercially
reasonable efforts to obtain from the applicable Supplier and pass through to Customer the following warranties with regard to the Materials: (i) conformance of the Materials with the Supplier’s specifications and/or the Specifications;
(ii) that the Materials will be free from defects in workmanship; (iii) that the Materials will comply with applicable laws, including, the Environmental Regulations; and (iv) that the Materials will not infringe the rights of third
parties, including, any intellectual property rights of any third parties. From time to time (but for not more than [*]) upon the request of Customer [*]. 

4.6. Material Shortage or Discontinuation. Flextronics shall monitor the performance of Suppliers and make data relating thereto
available to Customer. In the event that Flextronics becomes aware of any planned discontinuation of any Materials, failure of a Supplier to provide any Materials, or other difficulties in obtaining the Materials necessary to meet the needs of the
Materials Commitment, Flextronics shall promptly upon becoming aware thereof inform Customer in writing and [*]. 

  

					
			- 6 -		*Confidential Treatment Requested

	5.	SHIPMENTS, SCHEDULE CHANGE, DELAYS, CANCELLATION 

 5.1. Shipping
Requirements. Flextronics will package the Products in accordance with the Specifications and the applicable Purchase Order. Unless otherwise specified in the Specifications or a Purchase Order, Flextronics will package the Products in a
manner [*] to provide for [*] of the Products, including, without limitation: (a) in accordance with [*]; and (b) [*] for shipment. [*] will mark all containers and packaging with [*]. Each shipment of Product shall include a packing slip
that contains at a minimum: (i) the Purchase Order number, (ii) Customer’s part number, (iii) quantity, (iv) date of shipment, and (v) country of origin (i.e., manufacturing location) in compliance with Section 304
of the United States Tariff Act. The Product and its container must also be conspicuously marked with the country of origin (i.e., manufacturing location). Flextronics must provide Customer, as and when requested by Customer, a signed certificate
stating country of origin (i.e., manufacturing location) by quantity and part number. 
 5.2. Shipments. In addition to
Flextronics’ obligations under Section 5.1 above, Flextronics shall be responsible for [*], which the parties acknowledge have been [*]. Unless otherwise designated in the applicable Purchase Order, all Products delivered pursuant to the
terms of this Agreement shall be shipped [*] to Customer’s specified location in [*] or as otherwise designated by Customer in writing from time to time, provided that if such change in shipping location results in an increase in the [*] then
the parties shall [*] with respect to a corresponding [*]. Title and risk of loss to the Products shall pass to Customer upon delivery at the stated Incoterms delivery point set forth in the applicable Purchase Order. Customer shall be the importer
of record when applicable. 
 5.3. Quantity Increases and Shipment Schedule Changes. 

(a) Flextronics shall use commercially reasonable efforts to: (i) accept [*]; (ii) increase the quantity to be delivered [*]; and/or
(iii) [*] of existing Purchase Orders at Customer’s request. 
 (b) Delays in Shipment. Flextronics will promptly
notify Customer in writing of any anticipated delay in meeting the Product delivery dates specified in any accepted Purchase Order stating the reasons for the delay and the new delivery date. In the event of such a delay, Flextronics will promptly
notify Customer and provide a recovery plan acceptable to Customer within [*] calendar days. Should Flextronics not fulfill such recovery plan at no fault of Customer and not due to a Force Majeure Event, then at Fitbit’s option it may:
(i) take delivery of the Products and [*]; or (ii) have the Products that are the subject of the delay [*] any open purchase orders Flextronics has with any Suppliers related to the purchase of Materials. If Customer elects option (ii),
then Flextronics shall [*]; provided however, if Flextronics notifies Customer prior to the [*] then the parties shall [*]. Further, in the event [*] pursuant to this Section, then Flextronics will cooperate related thereto in accordance with
Section 11.4. 
 5.4. Cancellation or Rescheduling of Orders by Customer. 

(a) Customer may cancel or reschedule any portion or all of a Purchase Order or Forecast at any time prior to, or after, its acceptance by
Flextronics. If Customer cancels or reschedules an accepted Purchase Order or Forecast (or any part thereof) for any reason, then: 
 (i)
in the case of: (x) [*] as agreed upon in the applicable Purchase Order, and (y) [*] as agreed upon in the applicable Purchase Order, [*] shall be liable to [*] for the [*] for such [*], which is derived by removing from the [*]; and 

(ii) Customer shall also be liable for any [*] that arise directly as a result thereof in accordance with Section 6. 

[*] paid for by Customer pursuant hereto will be, at Customer’s sole election [*], either shipped by Flextronics to Customer’s designated location
or destroyed. 
 (b) If any Purchase Order or Forecast (or part thereof) is cancelled due to an expiration or termination of this Agreement,
Customer may direct Flextronics to cease its Work hereunder. In the event of such expiration or termination, [*] all relevant amounts specified in Section [*], except that with respect to [*]; provided however, if Flextronics notifies Customer prior
to the [*] then the parties shall [*]. 
 (c) Flextronics will use commercially reasonable efforts to attempt to mitigate the costs
described above. All costs of [*] shall be addressed in accordance with Section 6. 

  

					
			- 7 -		*Confidential Treatment Requested

	6.	MATERIALS CLAIMS. 

 6.1 Certain Definitions. 

(a) “Excess Materials” means any Materials that are in [*]. 

6.2 Disposition of Materials Claims. Within [*] calendar days of the end of each quarter, Flextronics shall provide Customer
with a written report setting forth all Materials that Flextronics believes are [*] (as determined in accordance with Section 6.1), including, [*] and all other information reasonably necessary for Customer to determine whether such Material
has been [*]; provided that Flextronics may [*]; or (ii) Flextronics previously [*] for pursuant to this Section. Customer shall have [*] calendar days to confirm or dispute Flextronics’ assessment of the existence, amount and value of
such Materials. [*], will result in Customer’s right to reject the claim. If Customer rejects the claim for any reason, the parties shall work in good faith to resolve any issues identified by Customer as soon as reasonably practicable under
the circumstances. If Customer confirms the Materials claim, then within [*] calendar days of the date on which Customer confirms the Materials claim, the following apply: 

(a) With respect to [*], at Customer’s sole option, Customer shall either: 

(i) [*] to continue storing [*] for its storage thereof from the date it confirmed the Materials claim and for so long as the
[*] remain in storage. Notwithstanding the foregoing, if the amount of [*] to be stored pursuant hereto is [*] then [*] shall have the right to [*] effective as of the date on which the Materials claim was actually received by [*]. During any such
storage period Customer may elect to instead pursue option (ii) or (iii) with respect to such [*]; or 
 (ii) Issue
to [*] a purchase order and [*] for the [*], and have [*] either (a) [*] as set forth in the purchase order (as reasonably acceptable to [*]), or (b) [*], in either case at [*]; or 

(iii) Issue to [*] a purchase order and [*] for the [*] and instruct [*] to retain possession [*], in which case [*] shall hold
and attempt to [*] on a [*] for all amounts of the [*] subsequently used by [*]. 
 (b) With respect to [*] shall issue to [*] a purchase
order for [*] either (i) ship [*] as set forth in the purchase order (as reasonably acceptable [*]), or (ii) [*], in either case at [*]. Notwithstanding the foregoing or anything else in this Agreement, [*] that result from [*], and [*]
for and instruct [*] promptly following the implementation of [*]. 
 Flextronics shall provide monthly reports regarding the amount of [*] that remain,
status thereof, and any other information reasonably requested by Customer relating to the Materials inventories. 
 6.3
Notices. Notwithstanding Section 13.11, all notices, purchase orders and any other communications required to be made or delivered by either party to the other party pursuant to this Section 6 shall be sent to the
representatives of each party as agreed to by the parties from time to time. 
 6.4 Mitigation. During any period in which
liability for Excess Materials [*], Flextronics shall use commercially reasonable efforts to return Materials, or otherwise mitigate the amounts payable by Customer hereunder; provided, however, the foregoing requirement does not extend any of the
timeframes established in Section 6.2. In the event Customer fails to pay any amounts as and when due under this Section 6 and Customer fails to cure such non-payment within [*] working days of its receipt of notice thereof from
Flextronics, Flextronics will be entitled to [*]. Flextronics shall then submit an invoice [*] for the balance due and Customer agrees to pay the undisputed portion of such invoice within [*] working days of its receipt of the invoice. 

 

	7.	PRODUCT ACCEPTANCE. 

 7.1 Prior to shipment, Flextronics shall have tested all Products
in accordance with the acceptance criteria and test procedures mutually agreed upon by the parties as set forth in the Specifications (“Acceptance Criteria”). Customer or its designated third party receiving the Products may reject
Products that: (a) have been damaged prior to delivery due to [*], or (b) do not meet, [*], as determined on a reasonable basis by Customer or its third party receiving the Products (such rejected Products, the “Rejected
Products”). 

  

					
			- 8 -		*Confidential Treatment Requested

 7.2 Customer will notify Flextronics in writing of any Rejected Products within [*] calendar days
of receipt of such Products. Flextronics will provide Customer with a return materials authorization (RMA) for such Rejected Products within [*] working days of it receipt of such notice. Customer shall return ship such Rejected Products [*] working
days of its receipt of the RMA. Customer shall return all Products [*], to Flextronics’ mutually agreed upon RMA site, and for all shipments of returned Products Customer or Flextronics shall be the importer and/or exporter of record as
applicable. 
 7.3 In inspecting the Products, Customer or its designated third party receiving the Products shall do so in accordance with
[*]. Customer shall have the right to reject the [*]. In such an event, an RMA will be issued and the Products returned pursuant to Section 7.2. 

7.4 Upon return of the Rejected Products, Flextronics will, as soon as reasonably practical, inform Customer as to whether it agrees with
Customer’s determination that the returned Products met the criteria necessary for them to be rejected by Customer (it shall perform such assessment as detailed in Section 8.3). If it agrees with Customer’s rejection of the Products,
then, as Customer’s sole remedy and Flextronics’ exclusive obligation, Flextronics shall: (i) at Customer’s option, [*], (ii) [*] for the return shipping of such Products, and (iii) [*]. Notwithstanding the
Customer’s right to elect a remedy, if Customer elects [*] is permitted by applicable law, then the parties shall mutually discuss and work in good faith to agree to an appropriate remedy under the circumstances; [*]. In the case of Product
replacement, title to returned Products will pass to Flextronics on delivery to Flextronics at the Incoterms point stated in Section 7.2, and title to the replacement Products will pass back to the Customer on re-delivery to the Customer in
accordance with Section 5.2. [*]. If Flextronics does not agree with Customer’s rejection of the Products, then the parties will work in good faith to resolve such issues as soon as reasonably practicable under the circumstances. For any
Products that were improperly rejected by Customer (including those for which no defects are found), Customer remains responsible for [*]. If during [*] of the Products returned to Flextronics by Customer are found to be improperly rejected, then
Flextronics may [*] improperly rejected Products [*]. 
 7.5 In the absence of a notification of rejection, the Customer will be deemed to
have accepted Products [*] calendar days after receipt of the applicable Products. 
  

	8.	MANUFACTURER LIMITED WARRANTY 

 8.1 During the Warranty Period, Flextronics warrants
that: (a) it will have manufactured the Products in accordance with the Specifications, free of defects in workmanship and in accordance with Section 9.1, (b) Flextronics shall not include in any Product any Materials that are not new
(during both manufacture and any repair), except to the extent agreed by the parties in writing, and [*]. All such warranties specified herein will survive any inspection, delivery, acceptance, or payment by Customer. 

8.2 Customer shall notify Flextronics in writing within a reasonable period of time after discovery of any Products found to not conform to
any of the warranties set forth in any of clauses (alone or in any combination) (a), (b) and (c) in Section 8.1 above during the Warranty Period. Customer shall return such Products (or Flextronics manufactured Materials) to
Flextronics’ designated repair location [*] working days of its receipt of the RMA. Customer shall return all Products [*], Flextronics’ designated mutually agreed upon RMA site, and for all shipments of returned Products Customer or
Flextronics shall be the importer and/or exporter of record as applicable. 
 8.3 Flextronics will provide Customer with an RMA for any
Products being returned hereunder within [*] working days of its receipt of notice from Customer relating thereto. All such returned Products shall include documentation describing the nature of the defect, how it was discovered and under what
conditions it occurred (to the extent that Customer has such information). For all returned Product (whether under Sections 7 and/or 8), Flextronics will conduct appropriate failure analysis in order to determine the root cause or failure mode
relating to the Product defects or failures and whether such defects or failures are attributable to a single failure mode, relating to workmanship, inadequate or improper testing, or failure to follow manufacturing protocols. Flextronics will
complete such analysis as soon as reasonably practical and inform Customer as to whether it agrees with Customer’s determination that the returned Products meet the criteria necessary for them to be rejected under Section 7 and/or covered
by the warranties under Section 8. If Flextronics does not agree with Customer’s determination, then the parties will work in good faith to resolve such issues as soon as reasonably practicable under the circumstances. For any Products
that were improperly returned by Customer (including those for which no defects are found), Customer remains responsible for [*]. If during [*] of the Products returned to Flextronics by Customer are found to be improperly returned, then Flextronics
may [*]. 

  

					
			- 9 -		*Confidential Treatment Requested

 8.4 For any Product found to not conform to any of the warranties set forth in Section 8.1
above during the Warranty Period, as Customer’s [*], Flextronics shall (a) at Customer’s option, [*], (b) [*], and (c) [*]. Notwithstanding the Customer’s right to elect a remedy, if Customer elects a [*] is permitted
by applicable law, then the parties shall mutually discuss and work in good faith to agree to an appropriate remedy under the circumstances; provided that [*] result in the Product being repaired to a form that enables it to [*]. In the case of
Product replacement, title to returned Products will pass to Flextronics on delivery to Flextronics at the Incoterms point stated in Section 8.2, and title to the replacement Products will pass back to the Customer on re-delivery to the
Customer in accordance with Section 5.2. In the case of credit, title to the returned Products shall pass to Flextronics on delivery to Flextronics at the Incoterms point stated in Section 8.2. 

8.5 The above warranties will not apply to: (a) [*] except as provided in Sections [*]; (b) [*] to the extent resulting [*] of the
Products; (c) any [*] to the extent it has been [*] by any person or entity after [*] to Customer; (d) [*], or (e) [*] the extent resulting [*] to manufacture the Products. 

8.6 In performing its obligations hereunder, Flextronics agrees to comply with the requirements set forth in Exhibit 8.6 hereto, [*]. For any
breach of the warranty in this Section 8.6, [*]: (a) [*] the affected Products so as to comply with the requirements of Section [*]; (b) [*] manufacturing of the Products so as to comply with the requirements of Section [*]; and
(c) [*]. 
 8.7 Customer will provide its own warranties relating to the Products directly to any of its end users or other third
parties. Customer will not pass through to end users or other third parties the warranties made by Flextronics under this Agreement. Furthermore, Customer will not make any representations to end users or other third parties on behalf of
Flextronics. 
 8.8 No Representations or Other Warranties. SECTIONS 7 AND 8 SET FORTH FLEXTRONICS’ SOLE OBLIGATION AND
LIABILITY, AND THE CUSTOMER’S EXCLUSIVE REMEDIES, FOR CLAIMS BASED ON DEFECTS IN OR FAILURE OF ANY PRODUCT OR SERVICES PROVIDED HEREUNDER AND REPLACES ALL OTHER WARRANTIES, REPRESENTATIONS, AND CONDITIONS, EXPRESS, IMPLIED, STATUTORY, OR IN ANY
OTHER PROVISION OF THIS AGREEMENT OR COMMUNICATION WITH CUSTOMER, AND FLEXTRONICS SPECIFICALLY DISCLAIMS ANY IMPLIED WARRANTY OR CONDITION OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE OR NON-INFRINGEMENT. 

8.9 Epidemic Failure. In addition to the other remedies set forth in this Section 8, if during any [*] calendar day period
greater than [*] of the Products delivered to Customer during such period are found to not conform to any of the warranties set forth in Section 8.1 above (each, an “Epidemic Failure”), then Customer will notify Flextronics in
writing of the nonconformity. After such notification, Flextronics and Customer will work in good faith to agree to a reasonable plan to carry out the repair or replacement of the affected Products. Upon agreement, Flextronics will pay any [*];
provided that, this does not in any way limit Flextronics’ liability to repair or replace Products found to not conform to any of the warranties set forth in Section 8.1. 

 

	9.	QUALITY ASSURANCE 

 9.1 Quality Assurance Systems. Flextronics will
maintain quality assurance systems for the control of Material quality (including the Production Materials), Material processing (including the Production Materials), assembly, testing, manufacturing, packaging and shipping in accordance with the
Specifications as well as its usual policies and practices. The workmanship standard to be used in manufacturing the Product is IPC-A-610 Rev. C Class II, as published by the Institute for Interconnecting and Packaging Electronic Circuits.
Flextronics will successfully maintain ISO 9001 quality standards and certification at all Flextronics facilities utilized in the manufacture of Products or performance of Work for Customer. Flextronics shall proactively pursue [*] Product [*].
Flextronics shall document and make available for Customer’s review Flextronics’ [*]. Without limiting the generality of the foregoing, Flextronics shall (a) notify Customer of any [*] to any manufacturing process or Materials
(including the Production Materials) [*]; (b) work [*] any such issues [*] under the circumstances, and (c) provide at [*]. 

  

					
			- 10 -		*Confidential Treatment Requested

 9.2 Audit. Customer may from time to time, upon agreement between to the parties
with respect to the timing, location, and scope of such a review and subject to Flextronics’ normal security and confidentiality requirements, review Flextronics’ facilities and records to confirm Flextronics’ performance in
accordance with this Agreement. Flextronics may not unreasonably withhold its agreement to any such timing, location or scope. In order to enable adequate audits by Customer, Flextronics shall maintain all records related to its performance under
this Agreement in accordance with Flextronics’ reasonable record-keeping policies, which shall at all times be consistent with legal requirements applicable to Flextronics. Customer shall additionally have the right for its personnel to be
present from time to time in Flextronics’ facilities to review and assess the Work being performed pursuant to mutually agreed upon procedures related thereto. Flextronics may not unreasonably withhold its agreement to any such procedures. 

9.3 Quarterly Review. The parties will use commercially reasonable efforts to meet quarterly to review Flextronics’
performance under this Agreement, including, Flextronics’ compliance with the quality assurance and workmanship standards described in this Section 9, and to discuss and resolve any issues that may have arisen including those relating to
quality, performance, engineering changes, or Excess Materials [*]. Prior to each such meeting, Flextronics shall provide Customer with a written report regarding Flextronics’ performance under this Agreement, including, meeting or exceeding,
during the previous quarter, the quality assurance and workmanship standards described in this Section 9, as well as preventive action plans to address any deficiencies. 

9.4 Failure Tracking; Traceability. Flextronics will provide a real time work order and failure-tracking system for all process
steps in the manufacture of the Products [*]. Detailed information will be provided to the Customer on a daily basis by an agreed upon delivery mechanism to include volume, process yields, defect paretos, cycle and up times, serial number tracking,
parent child relationships, debug/root cause etc. The parties shall work in good faith to implement and maintain a system for the traceability and identification of the Products in order to enable Customer to readily identify which Products may be
affected by a particular failure (e.g., non-conformity with any warranty or any other defect) and to trace the origin, date, Supplier(s) and any processes associated with the particular failure, non-conformity or defect. 

 

	10.	INTELLECTUAL PROPERTY LICENSES 

 10.1 All Intellectual Property (whether existing as of
the Effective Date or thereafter developed or licensed) owned by, or licensed to, the Customer will continue to be owned by the Customer and, accordingly, Customer hereby grants to Flextronics a non-exclusive, revocable, non-transferable,
non-sublicenseable, royalty-free limited license, to use only that portion of such Intellectual Property as may be necessary for Flextronics to perform its obligations under this Agreement. The foregoing license shall terminate or expire as set
forth in Section 11. 
 10.2 All Intellectual Property (whether existing as of the Effective Date or thereafter developed or licensed)
owned by, or licensed to, Flextronics will continue be owned by Flextronics, except as specifically set forth in Section 10.3. 
 10.3
Any Intellectual Property arising in the course of Flextronics’ performance of this Agreement [*] shall belong to the Customer. Any Intellectual Property belonging to the Customer pursuant to this Section shall be referred to herein as the
“Customer Developed Intellectual Property,” and shall be subject to the license granted by Customer to Flextronics pursuant to Section 10.1. Flextronics irrevocably assigns to Customer all right, title and interest worldwide in
and to the Customer Developed Intellectual Property, including, copyright, trademark, trade secret, patent, contract and licensing rights. The assignment provided for herein shall be total, perpetual, valid for any and all types of media, in any
number of copies, and for any and all types of use. To the extent that under applicable laws any such right, title and interest in and to the Customer Developed Intellectual Property cannot be held by or otherwise assigned to Customer, then
Flextronics hereby grants to Customer an exclusive, worldwide, royalty-free and irrevocable license to such Customer Developed Intellectual Property, which shall remain in full force and effect perpetually or for the maximum term allowed by
applicable law, with the right to sublicense, for any and all types of use, for an unlimited number of copies and in any type of media. Flextronics agrees to reasonably cooperate with Customer or its designee(s), both during and after the Term, in
applying for, obtaining, perfecting, evidencing, sustaining and enforcing any and all Intellectual Property rights in and to the Customer Developed Intellectual Property, and the assignment thereof to Customer or Customer’s designee. Such
assistance will include execution of a signed transfer of Intellectual Property rights to Customer or Customer’s designee for all Customer Developed Intellectual Property. 

10.4 Except as specifically set forth in Section 10.3 nothing in this Agreement or any Purchase Order grants, or can be capable of
granting, to a party (whether directly, indirectly, or by implication, estoppel or otherwise) any rights to any Intellectual Property owned by or licensed to the other party. 

  

					
			- 11 -		*Confidential Treatment Requested

	11.	TERM AND TERMINATION 

 11.1 Term. The term of this Agreement shall
commence on the Effective Date and shall continue for one (1) year thereafter (the “Initial Term”) until terminated as provided in Section 11.2 or 13.8 (Force Majeure). After the expiration of the Initial Term hereunder
(unless this Agreement has been terminated), this Agreement shall automatically renew for separate but successive one-year terms (each, a “Renewal Term,” and collectively with the Initial Term, the “Term”) unless
either party provides written notice to the other party that it does not intend to renew this Agreement ninety (90) calendar days or more prior to the end of the current Term.  

11.2 Termination. This Agreement may be terminated by either party: (a) if the other party defaults in any payment
obligation hereunder and such default continues without a cure for a period of ten (10) calendar days from the defaulting party’s receipt of notice thereof, (b) if the other party defaults in the performance of any other material term
or condition of this Agreement and such default continues un-remedied for a period of thirty (30) calendar days after the delivery of written notice thereof by the terminating party to the other party, or (c) pursuant to Section 13.9
(Force Majeure). This Agreement may be terminated by Customer for convenience upon ninety (90) calendar days’ written notice to Flextronics. This Agreement may be terminated by Flextronics upon one hundred (180) calendar days’
written notice to Customer. 
 11.3 Effect of Expiration or Termination. Expiration or termination of this Agreement:
(a) shall not affect the amounts due under this Agreement by either party that exist as of the date of expiration or termination, (b) Sections 5.4 and 6 shall govern with respect to any liability Customer may have to Flextronics for any
[*] in existence as of the date of expiration and termination, and (c) shall not affect Flextronics’ warranties in Section 8 above. Sections 1, 3.4, 3.6, 3.7, 3.8, 3.9, 4.5, 5, 6, 7, 8, and 10-13 are the only terms that shall survive
any termination or expiration of this Agreement. 
 11.4 Cooperation Upon Termination or other Events. In the event of
expiration or termination of this Agreement or redirection of production pursuant to Sections 3.3, 3.5 or 5.3, Flextronics shall provide reasonable cooperation to Customer to ensure a smooth transition. Flextronics shall return, at [*], all Tooling
and other Customer-owned or consigned materials to Customer in good condition, or ship such material to another destination as specified by Customer. Customer shall determine the manner and procedure for returning or shipping such property. If such
material is not returned or shipped according to this Section, Customer will have the right to collect the material at Flextronics plants or offices, and Flextronics agrees to assist Customer in such collection. 

 

	12.	INDEMNIFICATION; LIABILITY LIMITATION 

 12.1 Indemnification by
Flextronics. Flextronics agrees to defend, indemnify and hold harmless, Customer and Customer’s Affiliates, and all directors, officers, employees, and agents of Customer and its Affiliates (each, a “Customer
Indemnitee”) from and against all claims, actions, losses, expenses, damages or other liabilities, including reasonable attorneys’ fees (collectively, “Damages”) incurred by or assessed against any of the foregoing, to
the extent the same arise out of third-party claims relating to: 
 (a) any actual or threatened injury or damage to any person or property
caused, or alleged to be caused, by a Product sold by Flextronics to Customer hereunder, to the extent such injury or damage has been caused by the breach by Flextronics of its warranties set forth in Section 8; 

(b) any infringement of the Intellectual Property rights of any third party to the extent that such infringement is caused by a process that
Flextronics uses to perform any Work hereunder (e.g., manufacture, assemble and/or test the Products); provided that, Flextronics shall not have any obligation to indemnify Customer if such claim would not have arisen but for Flextronics’
manufacturing, assembly or testing of the Product in accordance with the Specifications; or 
 (c) any failure of any Product sold by
Flextronics hereunder to comply with any Environmental Regulations to the extent that such non-compliance is caused by a process or Production Materials that Flextronics uses to manufacture the Products; provided that, Flextronics shall not have any
obligation to indemnify Customer if such claim would not have arisen but for Flextronics’ manufacture of the Product in accordance with the Specifications. 

  

					
			- 12 -		*Confidential Treatment Requested

 12.2 Indemnification by Customer. Customer agrees to defend, indemnify and hold
harmless, Flextronics and Flextronics’ Affiliates, and all directors, officers, employees and agents of Flextronics and its Affiliates (each, a “Flextronics Indemnitee”) from and against all Damages incurred by or assessed
against any of the foregoing to the extent the same arise out of third-party claims relating to: 
 (a) any failure of any Product (or
Materials contained therein, excluding any Production Materials covered by Section 12.1(c) above) sold by Flextronics hereunder to comply with any governmental requirements and/or Environmental Regulations to the extent that such failure has
not been caused by the breach by Flextronics of its warranties set forth in Section 8; 
 (b) any actual or threatened injury or damage
to any person or property caused, or alleged to be caused, by a Product sold by Flextronics to Customer hereunder, but only to the extent such injury or damage has not been caused the breach by Flextronics of its warranties set forth in
Section 8; or 
 (c) any infringement of the Intellectual Property rights of any third party by any Product to the extent that such
infringement is not the responsibility of Flextronics pursuant to Section 12.1(b). 
 12.3 Procedures
for Indemnification. With respect to any third-party claims that a party is seeking indemnification for under Section 12, such party shall give the other party prompt notice of the third-party claim and cooperate with the
indemnifying party at its expense. The indemnifying party shall have the right to assume the defense (at its own expense) of any such claim through counsel of its own choosing by providing notice within thirty (30) calendar days of receipt of
notice of the claim. The party seeking indemnification shall have the right to participate in the defense thereof and to employ counsel, at its own expense, separate from the counsel employed by the indemnifying party. The indemnifying party shall
not, without the prior written consent of the indemnified party, agree to the settlement, compromise or discharge of such third-party claim, which consent will not be unreasonably withheld or delayed. If any claim for indemnification under this
Section 12 is rejected by a party for any reason, then executive officers of Customer and Flextronics shall meet within three (3) business days of the rejection in a bona fide attempt to resolve the matter. Failing a resolution at such
meeting, the parties shall have the right to immediately pursue arbitration or litigation as provided below. 
 12.4
Sale of Products Enjoined. Should the use of any Products be enjoined for a cause stated in Section 12.1(b) or 12.2(c) above, or in the event the indemnifying party desires to limit its liability under this Section 12, in
addition to its indemnification obligations set forth in this Section 12, the indemnifying party shall, at its option, either: (i) substitute a fully equivalent Product or process (as applicable) not subject to such injunction,
(ii) modify such Product or process (as applicable) so that it no longer is subject to such injunction, or (iii) obtain the right to continue using the enjoined process or Product (as applicable). In the event that any of the foregoing
remedies cannot be effected on commercially reasonable terms, then, [*]; provided however, if Flextronics notifies Customer prior to the [*] then the parties shall [*]. Any changes to any Products or process must be made in accordance with
Section 2.2 above. Notwithstanding the foregoing, in the event that a third party makes a claim of infringement with respect to any Product, but does not obtain an injunction, the indemnifying party shall not be required to substitute a fully
equivalent Product or process (as applicable) or modify the Product or process (as applicable) if the indemnifying party obtains an opinion from competent patent counsel reasonably acceptable to the other party that such Product or process is not
infringing or that the patents alleged to have been infringed are invalid. 
 12.5 No Other Liability. EXCEPT WITH REGARD TO A
BREACH OF SECTION 13.1 OR INDEMNIFICATION PURSUANT TO 8.6, 12.1 OR 12.2, IN NO EVENT SHALL EITHER PARTY BE LIABLE TO THE OTHER FOR ANY “COVER” DAMAGES (INCLUDING INTERNAL COVER DAMAGES WHICH THE PARTIES AGREE MAY NOT BE CONSIDERED
“DIRECT” DAMAGES), OR ANY INCIDENTAL, CONSEQUENTIAL, SPECIAL OR PUNITIVE DAMAGES OF ANY KIND OR NATURE ARISING OUT OF THIS AGREEMENT OR THE SALE OF PRODUCTS, WHETHER SUCH LIABILITY IS ASSERTED ON THE BASIS OF CONTRACT, TORT (INCLUDING THE
POSSIBILITY OF NEGLIGENCE OR STRICT LIABILITY), OR OTHERWISE, EVEN IF THE PARTY HAS BEEN WARNED OF THE POSSIBILITY OF ANY SUCH LOSS OR DAMAGE, AND EVEN IF ANY OF THE LIMITED REMEDIES IN THIS AGREEMENT FAIL OF THEIR ESSENTIAL PURPOSE. 

  

					
			- 13 -		*Confidential Treatment Requested

 THE FOREGOING SECTION 12 STATES THE ENTIRE LIABILITY OF THE PARTIES TO EACH OTHER CONCERNING
INFRINGEMENT OF PATENT, COPYRIGHT, TRADE SECRET OR OTHER INTELLECTUAL PROPERTY RIGHTS. 
  

	13.	MISCELLANEOUS 

 13.1
Confidentiality. Each party acknowledges that, during the performance of this Agreement, it will acquire certain confidential information related to the other party. The exchange of confidential information
between the parties pursuant to this Agreement shall be governed by that certain confidentiality agreement (the “Confidentiality Agreement”) entered into between the parties with an effective date of
November 17, 2014. 
 13.2 Anti-Bribery & Anti-Corruption. Each party shall comply with, and shall
ensure that its Affiliates comply with, all applicable laws and regulations enacted to combat bribery and corruption, including, the United States Foreign Corrupt Practices Act, the UK Bribery Act, the principles of the OECD Convention on Combating
Bribery of Foreign Public Officials, and any corresponding laws of all countries where business or services will be conducted or performed pursuant to this Agreement. Each party shall not, and shall ensure that its Affiliates do not, either directly
or indirectly, pay, offer, promise to pay, or give anything of value (including, any amounts paid or credited by Customer and/or its Affiliates to Flextronics) to any person including an employee or official of any government, government controlled
enterprise or company, or political party, with the reasonable knowledge that it will be used for the purpose of obtaining any improper benefit or to improperly influence any act or decision by such person or for the purpose of obtaining, retaining,
or directing business. Any amounts paid by Customer and/or its Affiliates to Flextronics and/or its Affiliates pursuant to the terms of this Agreement will be for products supplied and/or services actually rendered in accordance with the terms of
this Agreement. Each party shall not, and shall ensure that its Affiliates do not accept bribes or kickbacks in any form. 
 13.3 Use
of Party Names is Prohibited; Facility Tours. The existence and terms of this Agreement are Confidential Information (as defined in the Confidentiality Agreement) and protected pursuant to Section 13.1. Accordingly, neither party may
use the other party’s name or identity or trademarks or any other Confidential Information in any advertising, promotion or other public announcement without the prior express written consent of that party. Flextronics will require that all
non-Customer visitors that tour the Customer manufacturing line or Customer-storage areas of the Flextronics facility enter into a confidentiality agreement with Flextronics; provided that no third-party will be permitted to view the manufacturing
process of the Product (or manufacturing of prototypes) without Customer’s written permission, provided further that in no event will any competitor of the Customer be permitted to tour or view the Customer’s manufacturing line, storage
areas or the Products. 
 13.4 Entire Agreement; Severability. This Agreement, including, any and all Exhibits attached hereto
which are by this reference deemed incorporated herein, constitutes the entire agreement between the Parties with respect to the transactions contemplated hereby and supersedes all prior agreements, course of dealings, and understandings between the
parties relating to such transactions. If the scope of any of the provisions of this Agreement is too broad in any respect whatsoever to permit enforcement to its full extent, then such provisions shall be enforced to the maximum extent permitted by
law, and the parties hereto consent and agree that such scope may be judicially modified accordingly and that the whole of such provisions of this Agreement shall not thereby fail, but that the scope of such provisions shall be curtailed only to the
extent necessary to conform to law. 
 13.5 Amendments; Waiver. This Agreement may be amended only by written agreement of
both parties. The failure by either party to enforce any provision of this Agreement will not constitute a waiver of future enforcement of that or any other provision. Neither party will be deemed to have waived any rights or remedies hereunder
unless such waiver is in writing and signed by a duly authorized representative of the party against which such waiver is asserted. 
 13.6
Independent Contractor. Neither party shall, for any purpose, be deemed to be an agent of the other party, and the relationship between the parties shall only be that of independent contractors. Neither party shall have any right or
authority to assume or create any obligations or to make any representations or warranties on behalf of any other party, whether express or implied, or to bind the other party in any respect whatsoever. 

13.7 Expenses. Each party shall pay their own expenses in connection with the negotiation of this Agreement. In the event a
dispute between the parties arises with respect to this Agreement and it is resolved by arbitration, litigation or other proceeding the prevailing party shall be entitled to receive reimbursement for all associated reasonable costs and expenses
(including, attorneys’ fees) from the other party, provided that such award is in proportion to the total amount of all claims made by the party on which the party prevails. 

  

					
			- 14 -		

 13.8 Insurance. Flextronics and Customer
agree to maintain appropriate insurance (including, any insurance coverage required by law) to cover their respective risks under this Agreement with coverage amounts commensurate with levels in their respective markets. Flextronics specifically
agrees to maintain a minimum amount and type of insurance coverage at all times that covers the value of any Finished Products, [*] that Customer may have hereunder, as well as to protect against any loss with respect to any Customer Consigned
Materials or Customer owned property that is in the possession or control of Flextronics.  
 13.9 Force
Majeure. In the event that either party is prevented from performing or is unable to perform any of its obligations under this Agreement (other than a payment obligation) due to any act of God, acts or decrees of governmental or military
bodies, fire, casualty, flood, earthquake, war, strike, lockout, epidemic, destruction of production facilities, riot, insurrection, or any other cause beyond the reasonable control of the party invoking this Section (collectively, a “Force
Majeure”), and if such party shall have used its commercially reasonable efforts to mitigate its effects, such party shall give prompt written notice to the other party, its performance shall be excused, and the time for the performance
shall be extended for the period of delay or inability to perform due to such occurrences. Regardless of the excuse of Force Majeure, if such party is not able to perform within [*] consecutive calendar days after such event, the other party may
[*]. Any party declaring a Force Majeure event will notify the other party of such event within [*] of the event’s occurrence. 
 13.10
Successors, Assignment. This Agreement shall be binding upon and inure to the benefit of the parties hereto and their respective successors, assigns and legal representatives. Neither party shall have the right to assign or otherwise
transfer its rights or obligations under this Agreement except with the prior written consent of the other party, not to be unreasonably withheld. Notwithstanding the foregoing, Flextronics may subcontract or assign some or all of its rights and
obligations under this Agreement to a Flextronics Affiliate, or, solely with respect to the right to receive payment due from Customer hereunder, Flextronics may assign such right to a third party, in each case upon providing Customer written notice
thereof. Customer may assign its rights and obligations under this Agreement to a third party in connection with the transfer or sale of all, or substantially all, of its business related to this Agreement, or in the event of a merger,
consolidation, change in control or other similar transaction involving Customer or its Affiliates. Any permitted assignee shall assume all assigned obligations of its assignor under this Agreement. Any purported assignment in violation of this
Article shall be void and of no effect. 
 13.11 Notices. All notices required or permitted under this Agreement will be in
writing and will be deemed received (a) when delivered personally; (b) when sent by confirmed facsimile; (c) five (5) calendar days after having been sent by registered or certified mail, return receipt requested, postage
prepaid; or (d) one (1) day after deposit with a commercial overnight carrier. All communications will be sent to the addresses set forth above or to such other address as may be designated by a party by giving written notice to the other
party pursuant to this Section. 
 13.12 Controlling Law; Dispute Resolution; Waiver of Jury Trial. 

The parties hereby establish this dispute resolution process to be followed in the event any disagreement or controversy should arise out of,
or concerning, the performance of this Agreement. It is the intent of the parties that any dispute be resolved informally and promptly through good faith negotiation between Customer and Flextronics. Either party may initiate the proceedings by
giving written notice to the other party setting forth the particulars of the dispute and calling for a meeting of the parties. The parties agree to meet within ten (10) calendar days of the date of notice to jointly define the scope and a
method to remedy the dispute. If these meetings do not resolve the dispute, then executive officers of Customer and Flextronics are authorized to, and will, meet in a bona fide attempt to resolve the matter. Failing such resolution, the parties
shall have the right to pursue arbitration below. Neither party shall be obligated to follow this procedure with respect to any breach of the confidentiality provisions of this Agreement or with respect to any dispute resulting from a party’s
rejection of a claim for indemnification from the other party under Section 12. 
 This Agreement shall be governed by and interpreted
in accordance with the laws of the state of California and the parties hereby consent to the personal and exclusive jurisdiction and venue of the California state courts and the Federal courts located in Santa Clara County, California.
Notwithstanding the foregoing, except with respect to enforcing claims for injunctive or equitable relief or with respect to any dispute resulting from a party’s rejection of a claim for indemnification from the other party under
Section 12, any dispute, claim or controversy arising from or related in any way to this Agreement or the interpretation, application, breach, termination or validity 

  

					
			- 15 -		*Confidential Treatment Requested

 
thereof, including any claim of inducement of this Agreement by fraud will be submitted for resolution by binding arbitration in accordance with the Comprehensive Arbitration Rules &
Procedures of JAMS. The Federal Arbitration Act shall govern the arbitrability of all disputes. The arbitration will be held in Santa Clara County, California and it shall be conducted in the English language. Judgment on any award in arbitration
may be entered in any court of competent jurisdiction. Notwithstanding the above, each party shall have recourse to any court of competent jurisdiction to enforce claims for injunctive and other equitable relief. 

IN THE EVENT OF ANY DISPUTE BETWEEN THE PARTIES, WHETHER IT RESULTS IN PROCEEDINGS IN ANY COURT IN ANY JURISDICTION OR IN ARBITRATION, THE
PARTIES HEREBY KNOWINGLY AND VOLUNTARILY, AND HAVING HAD AN OPPORTUNITY TO CONSULT WITH COUNSEL, WAIVE ALL RIGHTS TO TRIAL BY JURY, AND AGREE THAT ANY AND ALL MATTERS SHALL BE DECIDED BY A JUDGE OR ARBITRATOR WITHOUT A JURY TO THE FULLEST EXTENT
PERMISSIBLE UNDER APPLICABLE LAW. To the extent applicable, in the event of any lawsuit between the parties arising out of or related to this Agreement, the parties agree to prepare and to timely file in the applicable court a mutual consent to
waive any statutory or other requirements for a trial by jury. The United Nations Convention on Contracts for the International Sale of Goods (CISG) shall not apply to this Agreement or any transactions hereunder. 

13.13 Even-Handed Construction. The terms and conditions as set forth in this Agreement have been arrived at after mutual
negotiation, and it is the intention of the parties that its terms and conditions not be construed against any party merely because it was prepared by one of the parties. For clarity, the term “includes” or “including” or any
equivalent of such terms is non-exclusive and means “includes without limitation,” “including but not limited to,” and equivalent variants of such phrases. 

13.14 Controlling Language. This Agreement is in English only, which language shall be controlling in all respects. All
documents exchanged under this Agreement shall be in English. 
 13.15 Counterparts. This Agreement may be executed in
counterparts. 
 [Rest of Page Intentionally Left Blank – Signatures Follow] 

  

					
			- 16 -		

 IN WITNESS WHEREOF, the parties have caused this Manufacturing Services Agreement to be duly executed by their
duly authorized representatives as of the Effective Date. 
  

									
	Customer:				Flextronics:
			
	FITBIT INTERNATIONAL LTD.				FLEXTRONICS SALES & MARKETING (A-P), LTD.
					
	Signature:		 /s/ James Park
				Signature:		 /s/ Manny Marimuthu

					
	By:		 James Park
				By:		 Manny Marimuthu

					
	Title:		 Director
				Title:		 Director

				
	Fitbit: (for purposes of Section 1.3 only)						
				
	FITBIT, INC.						
					
	Signature:		 /s/ James Park
						
					
	By:		 James Park
						
					
	Title:		 CEO
						

 Signature Page to Manufacturing Services Agreement 

 Exhibit 1 

Definitions 
  

			
	“Acceptance Criteria”		shall have the meaning set forth in Section 7.1.
		
	“Affiliates”		shall mean, with respect to a party hereto, any legal entity that, directly or indirectly, controls, is controlled by or is under common control with that party. For purposes of this definition, an entity shall be deemed to control
another entity if it owns or controls, directly or indirectly, at least fifty percent (50%) of the voting equity of another entity (or other comparable interest for an entity other than a corporation).
		
	[*]		shall have the meaning set forth in Section [*].
		
	“Agreement”		shall have the meaning set forth in the introductory paragraph.
		
	“Approved Vendor List” or “AVL”		shall mean the list of Suppliers currently approved to provide the Materials specified in the Bill of Materials for a Product as specified and controlled in the PDM System.
		
	“Baseline Price”		shall have the meaning set forth in Section 5.4.
		
	“Bill of Materials” or “BOM”		shall mean a list of the Materials and the quantities of each needed to manufacture the Products being ordered by Customer, in each case as provided by Customer.
		
	“Blanket Purchase Order”		shall have the meaning set forth in Section 3.1.
		
	“Confidential Information”		shall have the meaning set forth in the Confidentiality Agreement.
		
	“Confidentiality Agreement”		shall have the meaning set forth in Section 13.1.
		
	“Cost”		shall mean the [*].
		
	“Credit Limit”		shall have the meaning set forth in Section 3.8.
		
	“Customer”		shall have the meaning set forth in the introductory paragraph.
		
	[*]		shall have the meaning set forth in Section 3.6.
		
	“Customer Controlled Materials”		as part of the quarterly pricing review process the parties shall work in good faith to mutually agree upon those Materials that are deemed to be controlled by Customer for the upcoming quarter, with those such Materials being the
Customer Controlled Materials for such quarter.
		
	“Customer Developed Intellectual Property”		shall have the meaning set forth in Section 10.3.
		
	“Customer Indemnitees”		shall have the meaning set forth in Section 12.1.
		
	“Damages”		shall have the meaning set forth in Section 12.1.
		
	“ECO”		shall have the meaning set forth in Section 2.2.
		
	“Effective Date”		shall have the meaning set forth in the introductory paragraph.
		
	“Environmental Regulations”		shall mean any laws pertaining to pollution or protection of [*].

  

					
			- 18 -		*Confidential Treatment Requested

			
	“Epidemic Failure(s)”		shall have the meaning set forth in Section 8.9.
		
	“Excess Materials”		shall have the meaning set forth in Section 6.1.
		
	“Finished Product”		shall mean a Product that has been [*] in each case in accordance with the applicable Specifications.
		
	“Fitbit”		shall have the meaning set forth in the introductory paragraph.
		
	“Flextronics”		shall have the meaning set forth in the introductory paragraph.
		
	“Flextronics Indemnitee”		shall have the meaning set forth in Section 12.2.
		
	“Force Majeure”		shall have the meaning set forth in Section 13.9.
		
	“Forecast”		shall have the meaning set forth in Section 3.1.
		
	“Guaranteed Obligations”		shall have the meaning set forth in Section 1.3.
		
	“Interim Agreement”		shall have the meaning set forth in Section 1.5.
		
	“Individual Purchase Order”		shall have the meaning set forth in Section 3.1.
		
	“Initial Term”		shall have the meaning set forth in Section 11.1.
		
	“Intellectual Property”		shall mean all patents, applications for patents, copyrights, mask works, trade secrets and any other intellectual property rights recognized by any jurisdiction.
		
	“Lead Time(s)”		shall mean the [*].
		
	“Manufacturer Value Added Amount”		shall mean, with respect to a Product, the [*].
		
	“Materials”		shall mean components, parts and subassemblies that comprise the Product and that appear on the Bill of Materials for the Product.
		
	“Materials Commitment”		shall have the meaning set forth in Section 4.2.
		
	“Materials Procurement Lead Time”		shall mean with respect to any particular item of Materials, the longer of (a) [*], or (b) the [*].
		
	“Minimum Order Quantity” or “MOQ”		shall mean the minimum order quantity for any Materials as established by the parties in accordance with this Agreement.
		
	“Non-Cancellable, Non-Returnable Materials” or “NCNR”		shall mean those Materials that [*].
		
	[*]		shall have the meaning set forth in Section [*].
		
	“PDM System”		shall mean Customer’s then-current web based Product data management (PDM) system, which is as of the Effective Date hosted by Arena Solutions.
		
	“Price(s)”		shall mean the price(s) for the Product or Work as agreed between the parties from time to time in accordance with the terms of this Agreement.
		
	“Product(s)”		shall have the meaning set forth in Section 2.1.

  

					
			- 19 -		*Confidential Treatment Requested

			
	“Production Materials”		shall mean those Materials [*].
		
	“Purchase Order”		shall have the meaning set forth in Section 3.1.
		
	“Renewal Term”		shall have the meaning set forth in Section 11.1.
		
	“Release Order”		shall have the meaning set forth in Section 3.1.
		
	“Rejected Products”		shall have the meaning set forth in Section 7.1.
		
	“Risk Buy”		shall have the meaning set forth in Section 3.1.
		
	“Shipping Costs”		shall include [*].
		
	“Specifications”		shall have the meaning set forth in Section 2.1.
		
	“Supplier”		shall mean any company, organization, or other entity that provides Materials.
		
	“Term”		shall have the meaning set forth in Section 11.1.
		
	“Tooling”		shall have the meaning set forth in Section 2.3.
		
	“Warranty Period”		shall mean [*] months from the date on which Flextronics delivers a Product to Customer.
		
	“Work”		shall have the meaning set forth in Section 2.1.
		
	“Work-in-Progress”		shall mean any [*].

  

					
			- 20 -		*Confidential Treatment Requested

 Exhibit 8.6 

Compliance 
 1. Legal
Compliance. Flextronics shall comply with all applicable federal, state, local, and foreign laws, rules, and regulations applicable to its obligations under this Agreement in the jurisdiction in which such obligations are carried out. 

2. Chemical Substances. Flextronics shall provide to Customer all globally harmonized systems (GHS)HS safety data sheets (SDS) or other similar
documentation relating to the Materials provided to Flextronics by the Suppliers. Flextronics shall use commercially reasonably efforts to obtain English-language GHS SDSs, and to obtain details regarding the hazards presented by any materials
designated as trade secrets on any GHS SDS. 
 3. Shipment. All Products and Materials will be prepared for shipment in conformance
with all governmental and freight regulations applicable to chemicals and hazardous materials, including regulations regarding fumigation and aeration. All packaging materials, including pallets, shall be free of pests and comply with all applicable
regulations regarding wood packaging materials, including, 7 CFR 319.40.  
 4. RoHS. [*] applicable hazardous substance content and
exposure regulations applicable to the manufacturing of the Products, including, the Chinese administrative measure on the control of pollution caused by electronic information products (Chinese RoHS) and the EU legislation restricting the use of
hazardous substances in electrical and electronic equipment (RoHS Directive 2002/95/EC and RoHS 2 Directive 2011/65/EU), as amended from time to time. 

Flextronics shall have processes in place to ensure proper control [*]. In the event Flextronics is supplying a top level assembly, [*]. 

5. Regulatory Compliance and Certification of Manufacturing Locations. Flextronics agrees to maintain all necessary regulatory and governmental
certifications agreed to by the parties from time to time to support the manufacture of the Products. These certifications shall initially include: [*], as revised from time to time). Upon request, Flextronics shall provide Customer with all
documentation applicable to such certifications. If any new certifications are required that are unique to the manufacture of the Products and are beyond standard factory requirements, the parties shall mutually agree on [*] associated with such
additional certifications. Flextronics shall have no responsibility for, and shall not own, any certifications specific to the Products, and such certifications shall be owned by Fitbit. 

6. Product Certifications. Customer shall obtain and maintain, at [*], all necessary Product certifications, including, certifications necessary to
place the CE mark on the applicable Products. 
 7. Labor Standards Compliance. In performance of their respective obligations under the Agreement,
Flextronics and Customer shall each comply with all applicable labor laws respective to the locations where the parties perform pursuant to this Agreement. Specifically, Flextronics shall comply with the Fair Labor Standards Act to the extent
applicable to Flextronics operations and subsidiaries in the United States. 
 8. Homeland Security. The Customs-Trade Partnership Against Terrorism
(C-TPAT) is a program led by United States Customs and Border Protection designed to strengthen private companies’ supply chains with respect to terrorism. In order for a company to achieve C-TPAT certification it and its supply chain need to
implement and maintain a security program to ensure the integrity of goods destined for the United States. Accordingly, Flextronics agrees to take any actions necessary to implement and maintain a security program that will enable Customer to
achieve C-TPAT certification with respect to the Products. 
 9. Conflict Minerals. In the event that Customer reasonably determines that it will
become subject to the disclosure requirements of Section 13(p) to the Securities Exchange Act of 1934, as amended by Section 1502 of the Dodd Frank Wall Street Reform and Consumer Protection Act, Flextronics shall use commercially
reasonable efforts to support Customer’s compliance therewith, including assisting Customer to obtain from time to time information from all Suppliers that will allow Customer to determine whether any of the Materials contain Conflict Minerals,
and if present, whether such Materials are necessary for the production or functionality of any Product 

  

					
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and the origin of such minerals (e.g., chain of custody data and smelter data). Such assistance shall include working to obtain written declarations (in an industry accepted format) from the
Suppliers with respect thereto and any additional information reasonably required by Customer regarding the diligence each Supplier has conducted in support of such declaration. 

10. Compliance Audits. In the event of any audit regarding the Products by any governmental or quasi-governmental authority, any customer of the
Products or a certification company (such as UL), Flextronics shall cooperate in good faith with Customer to facilitate such audit and resolve any issues raised by such audit within any required timeframes. Without limiting the generality of the
foregoing, in the event a certification company inspector issues a variation notice with regard to the Products or Flextronics manufacturing location, Flextronics agrees to respond to Customer in writing regarding all issues raised in such notice
within a reasonable time and work to implement a recovery plan acceptable to the certification company within the required timeframe. 
 11. Updates/New
Regulations. In the event that during the Term there is any amendment to existing, or adoption of any new, federal, state, local, or foreign laws, rules, or regulations applicable to the Products or the parties performance hereunder, including,
any new hazardous substance regulations in any country, the parties shall review and work in good faith to make changes to this Agreement and their performance hereunder to allow the parties to comply with such laws, rules or regulations. 

12. Information. Flextronics shall supply Customer in a timely manner any and all information or data required by Customer to support its government
compliance obligations. 

  

					
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