Document:

Form of Indemnity Agreement for directors and officers

 Exhibit 10.5 
 INDEMNITY AGREEMENT 
 THIS INDEMNITY
AGREEMENT (this “Agreement”) dated as of         , 20     , is made by and between DIALOGIC INC., a Delaware
corporation (the “Company”), and             (“Indemnitee”). 
 RECITALS 
 A. The Company desires to attract and
retain the services of highly qualified individuals as directors, officers, employees and Agents. 
 B. The
Company’s bylaws (the “Bylaws”) require that the Company indemnify its directors, and empowers the Company to indemnify its officers, employees and Agents, as authorized by the Delaware General Corporation Law, as amended (the
“Code”), under which the Company is organized and such Bylaws expressly provide that the indemnification provided therein is not exclusive and contemplates that the Company may enter into separate agreements with its directors,
officers and other persons to set forth specific indemnification provisions. 
 C. Indemnitee does not regard the
protection currently provided by applicable law, the Company’s governing documents and available insurance as adequate under the present circumstances, and the Company has determined that Indemnitee and other directors, officers, employees and
Agents of the Company may not be willing to serve or continue to serve in such capacities without additional protection. 

D. The Company desires and has requested Indemnitee to serve or continue to serve as a director, officer, employee or Agent of the
Company, as the case may be, and has proffered this Agreement to Indemnitee as an additional inducement to serve in such capacity. 
 E. Indemnitee is willing to serve, or to continue to serve, as a director, officer, employee or Agent of the Company, as the case may be, if Indemnitee is furnished the indemnity provided for
herein by the Company. 
 AGREEMENT 
 NOW THEREFORE, in consideration of the mutual covenants and agreements set forth herein, the parties hereto, intending to be legally bound, hereby agree
as follows: 
 1. Definitions. 
 (a) Agent. For purposes of this Agreement, the term “Agent” of the Company means any person who: (i) is or was a director, officer, employee or other fiduciary of the
Company or a subsidiary of the Company; or (ii) is or was serving at the request or for the convenience of, or representing the interests of, the Company or a subsidiary of the Company, as a director, officer, employee or other fiduciary of a
foreign or domestic corporation, partnership, joint venture, trust or other enterprise. 

  
 1. 

 (b) Expenses. For purposes of this Agreement, the term “Expenses”
shall be broadly construed and shall include, without limitation, all direct and indirect costs of any type or nature whatsoever (including, without limitation, all attorneys’, witness, expert or other professional fees, electronic and data
collection fees, travel expenses, telephone charges, electronic research charges currier expenses and related disbursements, and other out-of-pocket costs of whatever nature), actually and reasonably incurred by Indemnitee in connection with the
investigation, defense or appeal, including appeal bonds of a proceeding or establishing or enforcing a right to indemnification under this Agreement, the Code or otherwise, and amounts paid in settlement by or on behalf of Indemnitee, but shall not
include any judgments, fines or penalties actually levied against Indemnitee for such individual’s violations of law. The term “Expenses” shall also include reasonable compensation for time spent by Indemnitee for which he is not
compensated by the Company or any Subsidiary or third party (i) for any period during which Indemnitee is not an Agent, in the employment of, or providing services for compensation to, the Company or any subsidiary; and (ii) if the rate of
compensation and estimated time involved is approved by the directors of the Company who are not parties to any action with respect to which Expenses are incurred, for Indemnitee while an Agent of, employed by, or providing services for compensation
to, the Company or any subsidiary. 
 (c) Proceedings. For purposes of this Agreement, the term
“Proceeding” shall be broadly construed and shall include, without limitation, any threatened, pending, or completed action, suit, arbitration, alternate dispute resolution mechanism, investigation, inquiry, administrative hearing or any
other actual, threatened or completed proceeding, whether brought in the right of the Company or otherwise and whether of a civil, criminal, administrative or investigative nature, and whether formal or informal in any case, in which Indemnitee was,
is or may be involved as a party or otherwise by reason of: (i) the fact that Indemnitee is or was a director or officer of the Company; (ii) the fact that any action taken by Indemnitee or of any action on Indemnitee’s part while
acting as director, officer, employee or Agent of the Company; or (iii) the fact that Indemnitee is or was serving at the request of the Company as a director, officer, employee or Agent of another corporation, partnership, joint venture,
trust, employee benefit plan or other enterprise, and in any such case described above, whether or not serving in any such capacity at the time any liability or expense is incurred for which indemnification, reimbursement, or advancement of Expenses
may be provided under this Agreement. 
 (d) Subsidiary. For purposes of this Agreement, the term
“Subsidiary” means any corporation or limited liability company of which more than 50% of the outstanding voting securities or equity interests are owned, directly or indirectly, by the Company and one or more of its subsidiaries, and any
other corporation, limited liability company, partnership, joint venture, trust, employee benefit plan or other enterprise of which Indemnitee is or was serving at the request of the Company as a director, officer, employee, Agent or fiduciary.

 (e) Independent Counsel. For purposes of this Agreement, the term “Independent Counsel” means a law
firm, or a partner (or, if applicable, member) of such a law firm, that is experienced in matters of corporation law and neither presently is, nor in the past five (5) years has been, retained to represent: (i) the Company or Indemnitee in
any matter material to either such party, or (ii) any other party to the Proceeding giving rise to a claim for indemnification hereunder. Notwithstanding the foregoing, the term “independent counsel” shall not include any person who,
under the applicable standards of professional conduct then 

  
 2. 

 
prevailing, would have a conflict of interest in representing either the Company or Indemnitee in an action to determine Indemnitee’s rights under this Agreement. 

2. Agreement to Serve. Indemnitee will serve, or continue to serve, as a director, officer, employee or Agent of the
Company or any subsidiary, as the case may be, faithfully and to the best of his or her ability, at the will of such corporation (or under separate agreement, if such agreement exists), in the capacity Indemnitee currently serves as an Agent of such
corporation, so long as Indemnitee is duly appointed or elected and qualified in accordance with the applicable provisions of the bylaws or other applicable charter documents of such corporation, or until such time as Indemnitee tenders his or her
resignation in writing; provided, however, that nothing contained in this Agreement is intended as an employment agreement between Indemnitee and the Company or any of its subsidiaries or to create any right to continued employment of Indemnitee
with the Company or any of its subsidiaries in any capacity. 
 The Company acknowledges that it has entered into this Agreement
and assumes the obligations imposed on it hereby, in addition to and separate from its obligations to Indemnitee under the Bylaws, to induce Indemnitee to serve, or continue to serve, as a director, officer, employee or Agent of the Company, and the
Company acknowledges that Indemnitee is relying upon this Agreement in serving as a director, officer, employee or Agent of the Company. 
 3. Indemnification. 
 (a) Indemnification in Third Party
Proceedings. Subject to Section 10 below, the Company shall indemnify Indemnitee to the fullest extent permitted by the Code, as the same may be amended from time to time (but, only to the extent that such amendment permits Indemnitee to
broader indemnification rights than the Code permitted prior to adoption of such amendment), if Indemnitee is a party to or threatened to be made a party to or otherwise involved in any Proceeding, for any and all Expenses, incurred by Indemnitee in
connection with the Proceeding. 
 (b) Indemnification in Derivative Actions and Direct Actions by the Company.
Subject to Section 10 below, the Company shall indemnify Indemnitee to the fullest extent permitted by the Code, as the same may be amended from time to time (but, only to the extent that such amendment permits Indemnitee to broader
indemnification rights than the Code permitted prior to adoption of such amendment), if Indemnitee is a party to or threatened to be made a party to or otherwise involved in any Proceeding by or in the right of the Company to procure a judgment in
its favor, against any and all Expenses incurred by Indemnitee in connection with the Proceeding. 
 4.
Indemnification of Expenses of Successful Party. Notwithstanding any other provision of this Agreement, to the extent that Indemnitee has been successful on the merits or otherwise in defense of any Proceeding or in defense of any claim,
issue or matter therein, including the dismissal of any action without prejudice, the Company shall indemnify Indemnitee against all Expenses actually and reasonably incurred in connection with the Proceeding. 

  
 3. 

 5. Partial Indemnification. If Indemnitee is entitled under any provision of
this Agreement to indemnification by the Company for some or a portion of any Expenses incurred by Indemnitee in connection with a Proceeding, but is precluded by applicable law or the specific terms of this Agreement to indemnification for the
total amount thereof, the Company shall nevertheless indemnify Indemnitee for the portion thereof to which Indemnitee is entitled. 
 6. Advancement of Expenses. To the extent not prohibited by law, the Company shall advance the Expenses incurred by Indemnitee in connection with any Proceeding, and such advancement shall
be made within twenty (20) days after the receipt by the Company of a statement or statements requesting such advances (which shall include invoices received by Indemnitee in connection with such Expenses but, in the case of invoices in
connection with legal services, any references to legal work performed or to expenditures made that would cause Indemnitee to waive any privilege accorded by applicable law shall not be included with the invoice) and upon request of the Company, an
undertaking to repay the advancement of Expenses if and to the extent that it is ultimately determined by a court of competent jurisdiction in a final judgment, not subject to appeal, that Indemnitee is not entitled to be indemnified by the Company.
Advances shall be unsecured, interest free and without regard to Indemnitee’s ability to repay the Expenses. Advances shall include any and all Expenses incurred by Indemnitee pursuing an action to enforce Indemnitee’s right to
indemnification under this Agreement, or otherwise and this right of advancement, including Expenses incurred preparing and forwarding statements to the Company to support the advances claimed. Indemnitee acknowledges that the execution and delivery
of this Agreement shall constitute an undertaking providing that Indemnitee shall, to the fullest extent required by law, repay the advance if and to the extent that it is ultimately determined by a court of competent jurisdiction in a final
judgment, not subject to appeal, that Indemnitee is not entitled to be indemnified by the Company. The right to advances under this Section shall continue until final disposition of any Proceeding, including any appeal therein. This Section 6
shall not apply to any claim made by Indemnitee for which indemnity is excluded pursuant to Section 10(b). 
 7.
Notice and Other Indemnification Procedures. 
 (a) Notification of Proceeding. Indemnitee will notify the
Company in writing promptly upon being served with any summons, citation, subpoena, complaint, indictment, information or other document relating to any Proceeding or matter which may be subject to indemnification or advancement of Expenses covered
hereunder. The failure of Indemnitee to so notify the Company shall not relieve the Company of any obligation which it may have to Indemnitee under this Agreement or otherwise. 

(b) Request for Indemnification and Indemnification Payments. Indemnitee shall notify the Company promptly in writing upon
receiving notice of any demand, judgment or other requirement for payment that Indemnitee reasonably believes to be subject to indemnification under the terms of this Agreement, and shall request payment thereof by the Company. Indemnification
payments requested by Indemnitee under Section 3 hereof shall be made by the Company no later than sixty (60) days after receipt of the written request of Indemnitee. Claims for advancement of Expenses shall be made under the provisions of
Section 6 herein. 

  
 4. 

 (c) Application for Enforcement. In the event the Company fails to make timely
payments as set forth in Sections 6 or 7(b) above, Indemnitee shall have the right to apply to any court of competent jurisdiction for the purpose of enforcing Indemnitee’s right to indemnification or advancement of Expenses pursuant to this
Agreement. In such an enforcement hearing or proceeding, the burden of proof shall be on the Company to prove that indemnification or advancement of Expenses to Indemnitee is not required under this Agreement or permitted by applicable law. Any
determination by the Company (including its Board of Directors, stockholders or independent counsel) that Indemnitee is not entitled to indemnification hereunder, shall not be a defense by the Company to the action nor create any presumption that
Indemnitee is not entitled to indemnification or advancement of Expenses hereunder. 
 (d) Indemnification of Certain
Expenses. The Company shall indemnify Indemnitee against all Expenses incurred in connection with any hearing or Proceeding under this Section 7 unless the Company prevails in such hearing or Proceeding on the merits in all material
respects. 
 8. Assumption of Defense. In the event the Company shall be requested by Indemnitee to pay the
Expenses of any Proceeding, the Company, if appropriate, shall be entitled to assume the defense of such Proceeding or to participate to the extent permissible in such Proceeding, with counsel reasonably acceptable to Indemnitee. Upon assumption of
the defense by the Company and the retention of such counsel by the Company, the Company shall not be liable to Indemnitee under this Agreement for any fees of counsel subsequently incurred by Indemnitee with respect to the same Proceeding, provided
that Indemnitee shall have the right to employ separate counsel in such Proceeding at Indemnitee’s sole cost and expense. Notwithstanding the foregoing, if Indemnitee’s counsel delivers a written notice to the Company stating that such
counsel has reasonably concluded that there is or may be a conflict of interest between the Company and Indemnitee in the conduct of any such defense or the Company shall not, in fact, have employed counsel or otherwise actively pursued the defense
of such Proceeding within a reasonable time, then in any such event the fees and Expenses of Indemnitee’s counsel to defend such Proceeding shall be subject to the indemnification and advancement of Expenses provisions of this Agreement.

 9. Insurance. To the extent that the Company maintains an insurance policy or policies providing liability
insurance for directors, officers, employees, or Agents of the Company or of any subsidiary (“D&O Insurance”), Indemnitee shall be covered by such policy or policies in accordance with its or their terms to the maximum extent of
the coverage available for any such director, officer, employee or Agent under such policy or policies. If, at the time of the receipt of a notice of a claim pursuant to the terms hereof, the Company has D&O Insurance in effect, the Company
shall give prompt notice of the commencement of such Proceeding to the insurers in accordance with the procedures set forth in the respective policies. The Company shall thereafter take all necessary or desirable actions to cause such insurers to
pay, on behalf of Indemnitee, all amounts payable as a result of such Proceeding in accordance with the terms of such policies, provided however, that the terms of the D&O Insurance shall not diminish or alter the Company’s obligations
under this Agreement. 
 10. Exceptions. 

  
 5. 

 (a) Certain Matters. Any provision herein to the contrary notwithstanding, the
Company shall not be obligated pursuant to the terms of this Agreement to indemnify Indemnitee on account of any Proceeding with respect to (i) remuneration paid to Indemnitee if it is determined by final non-appealable judgment or other final
adjudication that such remuneration was in violation of law (and, in this respect, both the Company and Indemnitee have been advised that the Securities and Exchange Commission believes that indemnification for liabilities arising under the federal
securities laws is against public policy and is, therefore, unenforceable and that claims for indemnification should be submitted to appropriate courts for adjudication, as indicated in Section 10(d) below); (ii) a final non-appealable
judgment rendered against Indemnitee for an accounting, disgorgement or repayment of profits made from the purchase or sale by Indemnitee of securities of the Company against Indemnitee or in connection with a settlement by or on behalf of
Indemnitee but only to the extent it is agreed to by Indemnitee and the Company that such amount paid in settlement resulted from Indemnitee’s conduct from which Indemnitee received monetary personal profit, pursuant to the provisions of
Section 16(b) of the Securities Exchange Act of 1934, as amended, or other provisions of any federal, state or local statute or rules and regulations thereunder; (iii) a final non-appealable judgment or other final adjudication that
Indemnitee’s conduct was in bad faith, knowingly fraudulent or deliberately dishonest or constituted willful misconduct (but only to the extent of such specific determination); or (iv) on account of conduct that is established by a final
judgment as constituting a breach of Indemnitee’s duty of loyalty to the Company or resulting in any personal profit or advantage to which Indemnitee is not legally entitled. For purposes of the foregoing sentence, a final judgment or other
adjudication may be reached in either the underlying Proceeding or action in connection with which indemnification is sought or a separate proceeding or action to establish rights and liabilities under this Agreement. 

(b) Claims Initiated by Indemnitee. Any provision herein to the contrary notwithstanding, the Company shall not be
obligated to indemnify or advance Expenses to Indemnitee with respect to proceedings or claims initiated or brought by Indemnitee against the Company or its directors, officers, employees or other Agents and not by way of defense, except
(i) with respect to proceedings brought to establish or enforce a right to indemnification under this Agreement or under any other agreement, provision in the Bylaws or Certificate of Incorporation or applicable law, or (ii) with respect
to any other proceeding initiated by Indemnitee that is either approved by the Board of Directors or Indemnitee’s participation is required by applicable law. However, indemnification or advancement of Expenses may be provided by the Company in
specific cases if the Board of Directors determines it to be appropriate. 
 (c) Unauthorized Settlements.
Any provision herein to the contrary notwithstanding, the Company shall not be obligated pursuant to the terms of this Agreement to indemnify Indemnitee under this Agreement for any amounts paid in settlement of a Proceeding effected without the
Company’s written consent. Neither the Company nor Indemnitee shall unreasonably withhold consent to any proposed settlement; provided, however, that the Company may in any event decline to consent to (or to otherwise admit or agree to any
liability for indemnification hereunder in respect of) any proposed settlement if the Company is also a party in such Proceeding and determines in good faith that such settlement is not in the best interests of the Company and its stockholders.

  
 6. 

 (d) Securities Act Liabilities. Any provision herein to the contrary notwithstanding,
the Company shall not be obligated pursuant to the terms of this Agreement to indemnify Indemnitee or otherwise act in violation of any undertaking appearing in and required by the rules and regulations promulgated under the Securities Act of 1933,
as amended (the “Act”), or in any registration statement filed with the SEC under the Act. Indemnitee acknowledges that paragraph (h) of Item 512 of Regulation S-K currently generally requires the Company to undertake in
connection with any registration statement filed under the Act to submit the issue of the enforceability of Indemnitee’s rights under this Agreement in connection with any liability under the Act on public policy grounds to a court of
appropriate jurisdiction and to be governed by any final adjudication of such issue. Indemnitee specifically agrees that any such undertaking shall supersede the provisions of this Agreement and to be bound by any such undertaking. 

11. Nonexclusivity and Survival of Rights. The provisions for indemnification and advancement of Expenses set forth in this
Agreement shall not be deemed exclusive of any other rights which Indemnitee may at any time be entitled under any provision of applicable law, the Company’s Certificate of Incorporation, Bylaws or other agreements, both as to action in
Indemnitee’s official capacity and Indemnitee’s action as an Agent of the Company, in any court in which a Proceeding is brought, and Indemnitee’s rights hereunder shall continue after Indemnitee has ceased acting as an Agent of the
Company and shall inure to the benefit of the heirs, executors, administrators and assigns of Indemnitee. The obligations and duties of the Company to Indemnitee under this Agreement shall be binding on the Company and its successors and assigns
until terminated in accordance with its terms. The Company shall require any successor (whether direct or indirect, by purchase, merger, consolidation or otherwise) to all or substantially all of the business or assets of the Company, expressly to
assume and agree to perform this Agreement in the same manner and to the same extent that the Company would be required to perform if no such succession had taken place. 
 No amendment, alteration or repeal of this Agreement or of any provision hereof shall limit or restrict any right of Indemnitee under this Agreement in respect of any action taken or omitted by such
Indemnitee in his or her corporate status prior to such amendment, alteration or repeal. To the extent that a change in the Code, whether by statute or judicial decision, permits greater indemnification or advancement of Expenses than would be
afforded currently under the Company’s Certificate of Incorporation, Bylaws and this Agreement, it is the intent of the parties hereto that Indemnitee shall enjoy by this Agreement the greater benefits so afforded by such change. No right or
remedy herein conferred is intended to be exclusive of any other right or remedy, and every other right and remedy shall be cumulative and in addition to every other right and remedy given hereunder or now or hereafter existing at law or in equity
or otherwise. The assertion or employment of any right or remedy hereunder, or otherwise, by Indemnitee shall not prevent the concurrent assertion or employment of any other right or remedy by Indemnitee. 

12. Term. All agreements and obligations of the Company contained herein shall continue during the period Indemnitee is an officer
or director of the Company (or is or was serving at the request of the Company as a director, officer, employee or Agent of another corporation, partnership, joint venture, trust or other enterprise) and shall continue thereafter so long as
Indemnitee shall be subject to any Proceeding whether or not she/he is acting or serving 

  
 7. 

 
in any such capacity at the time any liability or expense is incurred for which indemnification can be provided under this Agreement. This Agreement shall be binding upon and inure to the benefit
of and be enforceable by the parties hereto and their respective successors (including any direct or indirect successor by purchase, merger, consolidation or otherwise to all or substantially all of the business or assets of the Company), assigns,
spouses, heirs, executors and personal and legal representatives This Agreement shall continue until and terminate upon the later of: (a) six (6) years after the date that Indemnitee shall have ceased to serve as a director or and/or
officer, employee or Agent of the Company; or (b) one (1) year after the final termination of any Proceeding, then pending, in respect to which Indemnitee was granted rights of indemnification or advancement of Expenses hereunder.

 No legal action shall be brought and no cause of action shall be asserted by or in the right of the Company against an
Indemnitee or an Indemnitee’s estate, spouse, heirs, executors or personal or legal representatives after the expiration of six (6) years from the date of accrual of such cause of action, and any claim or cause of action of the Company
shall be extinguished and deemed released unless asserted by the timely filing of a legal action within such six-year period; provided, however, that if any shorter period of limitations is otherwise applicable to such cause of action, such shorter
period shall govern. 
 13. Subrogation. In the event of payment under this Agreement, the Company shall be
subrogated to the extent of such payment to all of the rights of recovery of Indemnitee, who, at the request and expense of the Company, shall execute all papers required and shall do everything that may be reasonably necessary to secure such
rights, including the execution of such documents necessary to enable the Company effectively to bring suit to enforce such rights. 
 14. Interpretation of Agreement. It is understood that the parties hereto intend this Agreement to be interpreted and enforced so as to provide indemnification to Indemnitee to the fullest
extent now or hereafter permitted by law. 
 15. Severability. If any provision of this Agreement shall be held to
be invalid, illegal or unenforceable for any reason whatsoever, (a) the validity, legality and enforceability of the remaining provisions of the Agreement (including without limitation, all portions of any paragraphs of this Agreement
containing any such provision held to be invalid, illegal or unenforceable, that are not themselves invalid, illegal or unenforceable) shall not in any way be affected or impaired thereby; and (b) to the fullest extent possible, the provisions
of this Agreement (including, without limitation, all portions of any paragraph of this Agreement containing any such provision held to be invalid, illegal or unenforceable, that are not themselves invalid, illegal or unenforceable) shall be
construed so as to give effect to the intent manifested by the provision held invalid, illegal or unenforceable and to give effect to Section 14 hereof. 
 16. Amendment and Waiver. No supplement, modification, amendment, or cancellation of this Agreement shall be binding unless executed in writing by the parties hereto. No waiver of any of the
provisions of this Agreement shall be deemed or shall constitute a waiver of any other provision hereof (whether or not similar) nor shall such waiver constitute a continuing waiver. 

  
 8. 

 17. Notice. Except as otherwise provided herein, any notice or demand which,
by the provisions hereof, is required or which may be given to or served upon the parties hereto shall be in writing and, if by telegram, telecopy or telex, shall be deemed to have been validly served, given or delivered when sent, if by overnight
delivery, courier or personal delivery, shall be deemed to have been validly served, given or delivered upon actual delivery and, if mailed, shall be deemed to have been validly served, given or delivered three (3) business days after deposit
in the United States mail, as registered or certified mail, with proper postage prepaid and addressed to the party or parties to be notified at the addresses set forth on the signature page of this Agreement (or such other address(es) as a party may
designate for itself by like notice). If to the Company, notices and demands shall be delivered to the attention of the Secretary of the Company. 
 18. Governing Law. This Agreement shall be governed exclusively by and construed according to the laws of the State of Delaware, as applied to contracts between Delaware residents entered
into and to be performed entirely within Delaware. 
 19. Counterparts. This Agreement may be executed in one or
more counterparts, each of which shall for all purposes be deemed to be an original but all of which together shall constitute but one and the same Agreement. Only one such counterpart need be produced to evidence the existence of this Agreement.

 20. Headings. The headings of the sections of this Agreement are inserted for convenience only and shall not be
deemed to constitute part of this Agreement or to affect the construction hereof. 
 21. Entire Agreement. This
Agreement constitutes the entire agreement between the parties with respect to the subject matter hereof and supersedes all prior agreements, understandings and negotiations, written and oral, between the parties with respect to the subject matter
of this Agreement; provided, however, that this Agreement is a supplement to and in furtherance of the Company’s Certificate of Incorporation, Bylaws, the Code and any other applicable law, and shall not be deemed a substitute therefor, and
does not diminish or abrogate any rights of Indemnitee thereunder. 

  
 9. 

 IN WITNESS WHEREOF, the
parties hereto have entered into this Agreement effective as of the date first above written. 
  

					
	DIALOGIC INC.
		
	By:	 	  

	 	 	Name:	 	  

	 	 	Title:	 	  

 IN WITNESS WHEREOF, the
parties hereto have entered into this Agreement effective as of the date first above written. 
  

	
	INDEMNITEE
	
	  

	 Signature of Indemnitee

	
	  

	 Print or Type Name of IndemniteeExhibit 10.3

 
  
  

 
  

 

 Exhibit 10.3 
 English Translation 
 LEASE AGREEMENT FOR PURPOSES OTHER THAN THAT OF
HOUSING 
 In Barcelona, on the 17th of December of 2010 

BY AND BETWEEN 
 As party of the first part, the mercantile company Enrique y Félix Marcilla S.L., with domicile in Barcelona, calle Escuelas Pías number 73, inscribed in the Mercantile Registry of
Barcelona, volume 21087, folio number 220, page num. B-16417, with CIF [Tax Code] no. B59810275, represented by D. Félix Marcilla Pages, of legal age, having domicile in Barcelona, calle Escuelas Pías number 73 – 79, 2nd, with D.N.I [Identity Document] No. 37013968E, in his capacity
as Administrator. 
 And as party of the second part, the mercantile company Sara Lee Southern Europe,
S.L., incorporated according to the public instrument authorized by Notary of Barcelona D. Tomás Gimenez Duart, on the 1st of February of the year 2000, with protocol number 461, having domicile at Mollet del Vallés (08100
Barcelona), Avenida Can Prat, number 25, with C.I.F No. B-08027021. Inscribed in the Mercantile Registry of Barcelona, to volume 23,251, folio No. 105, page No. B-52,100, inscription 56, represented by its Legal Representative, D. David Torrent
Bernadas, by virtue of the power granted thereupon by public instrument authorized by the Notary of Barcelona Da. Rocio Maestre Cavanna, on June 14, 2007, with protocol number 2043, which resulted in inscription 111 in the Mercantile Registry of
Barcelona, of legal age, with D.N.I. No. 43393784Y, domicile Avenida de Can Prat, 21-25 08100 Mollet del Vallés. 

Personally, and in the capacity in which they are acting, the parties mutually recognize each other’s legal capacity to enter into the present
RENTAL contract (for purposes other than that of housing) and to this effect: 
 THEY DECLARE: 

1. WHEREAS the Lessor is owner of the plot and the construction thereon in the following description: 

“The Piece of Land Situated at the Terminus of Mollet del Vallés, in the Industrial Polygon ‘Can Prat,’” located at street
Number 4, without number, upon which there has been built a complex of industrial warehouses, eight of which are only one story, and one of which is of one story and one floor for offices, locker rooms, and dining rooms, each of which measure 16.40
meters wide by 30 

 

  
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 meters long or deep, which results in a total built area of 4,428 square meters, plus 492 meters squared
for the aforementioned floor, for a total of 4,920 meters squared in built area. The land area measures twelve thousand seven hundred fifty-nine square meters eighty-one square decimeters. Adjacent: on its east border, the road, what is today street
no.4, of the Industrial Polygon “Can Prat,” on the right entering north, with Francisco Falguera and Dolores Motoliú and part of the other with Salvador Ciurana; and at the rear or back, east, to the Barcelona to France railway. It
is Registered Land No. 14,862, inscribed to Volume 1,184, Book 142 of Mollet, Folio No. 56, 2nd inscription.”; 
 2. WHEREAS,
besides the aforementioned warehouses there are others, additions built by Messrs. Marcilla at their own risk and expense, which are an integral part of the same; and 
 3. WHEREAS, hereafter, the complex of buildings formed by the first and second recitals shall be referred to as the “Industrial Buildings,” 

PACTS 
 FIRST.-
Term and Efficacy of the Contract. 
 This contract shall come into force on January 1, 2011. 

SECOND.- Purpose and Use of the Buildings. 
 The Industrial Buildings shall be used for the activity of Coffee Roasting for which activity the Lessee shall obtain or possess the corresponding administrative permits if required to do so. 

THIRD.- Duration of the Rental Contract. 
 The duration of the contract shall be of TEN (10) years, counted from January 1, 2011, the date upon which payment for the first month shall be initiated, in accordance with the following pact.

 

  
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 If, at the end of the contractual term, the Lessee or the Lessor has not communicated to the other party,
at least six months in advance of the expiration of the term, its express desire to terminate the tenancy relationship, the contract shall be extended for successive annual terms unless either the Lessee or the Lessor communicate to the other party
six months in advance of the expiry of any of the annual extensions, its desire to terminate and finalize tenancy. 
 FOURTH.- Rent and
Revision. 
 The agreed-upon monthly rent shall be the annual sum of TWO HUNDRED SEVENTY-SIX THOUSAND EUROS (276,000 euros), which
corresponds to twenty-three thousand euros (23,000 euros) per month, plus VAT, paid monthly in advance, within the first five days of each month, by means of a transfer to the account indicated by the LESSOR for such purpose, in exchange for the
timely issuance of an invoice. 
 Any change regarding the destination account for payment of rent shall be communicated by the LESSOR or its
Administrator to the LESSEE. 
 To said monthly rent shall be added the following assimilated quantities: (i) the repercussion of the I.B.I
fee [Property Tax], currently seven hundred nineteen euros and ninety-one cents monthly (719.91 euros/month); (ii) services and supplies, currently two hundred fifty-nine euros and one cent monthly (259.01 euros/month); (iii) garbage,
currently four euros and thirteen cents monthly (4.13 euros/month); and (iv) improvement contributions, currently three hundred fifty euros and ten cents monthly (350.10 euros/month); all of this shall be duly reflected on the monthly invoice,
with an itemization of each of these categories, which shall be increased or decreased as applicable. The monthly invoice shall appear as follows: 
  

					
	 Rent:
	  	 	23,000.00 	€ 
	 I.B.I.
	  	 	719.91 	€ 
	 Services and Supplies
	  	 	259.01 	€ 
	 Garbage
	  	 	4.13 	€ 
	 Improvement Contributions
	  	 	350.10 	€ 

 
 

  
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 The monthly rent shall be subject to annual modifications according to the variations experienced by the
Consumer Price Index (national average), published by the National Institute of Statistics or the body that replaces it. To this effect, at the time of first revision, the latest index published by said Institute or body (correcting index) shall be
compared with the index which corresponds to the same month of the previous year (base index), and the percentage of increase, if any, shall be applied to the amount of rent to be paid at the time of revision. The revisions shall proceed in the same
manner for subsequent years but taking as the base index the index that was used as the correcting index in the previous revision. The new rent amount established in this manner shall be enforceable as of the following month and shall be applied
during one year. 
 FIFTH.-Works, Conservation, and Maintenance. 
 Regarding the LESSEE. 
 The Lessee shall be able to carry out in the interior of the
Industrial Buildings all works necessary for the correct operation of its business, although the Lessee must notify the Lessor of the nature of the works so that the Lessor may give obligatory consent. 

The repair or any kind of failure or imperfection of the water, electricity, air-conditioning, sanitary, or drainage systems, faucets, windows, or of the
facilities, decoration, or accessories of the Industrial Buildings shall be at the risk and expense of the Lessee, provided that the cause of the failure be attributable to the Lessee. 
 The works, improvements, or installations performed by the Lessee during tenancy which the Lessee cannot remove without causing damage to the Industrial Buildings, shall remain to the benefit of the
Lessor, without incurring upon the Lessor any obligation to indemnify the Lessee for that reason. 
 The Lessee shall maintain the Industrial
Buildings in conditions that are adequate for their contracted use, and be responsible for the costs associated with maintenance work attributable to the Lessee as well as for works necessary simply as a result of the passage of the term of this
contract. 

 

  
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 Regarding the LESSOR. 
 1. Conservation. 
 If during the course of the contract term it becomes necessary for the
Lessor to carry out in the Industrial Buildings works of conservation that were to impede or obstruct the realization of the Lessee’s activities, and the execution of said conservation works cannot reasonably be deferred until the conclusion of
tenancy, the obligation of payment of rent shall be suspended until the impediment or obstruction has concluded. 
 2. Improvements.

 The parties agree, to the express exclusion of the range of improvements to be made by the Lessor as provided by Article 30, regarding
Articles 22 and 19 of the Urban Tenancy Act, that the Lessor during the term of this contract shall not be able to realize works of improvement in the Industrial Buildings that might affect or damage the business being run therein, without the
express written consent of the Lessee. 
 SIXTH.- Deposit. 
 The Lessee shall pay, in return for the corresponding receipt, within the 30 days subsequent to the effective date of this contract, that is, before the 31st of January, 2011, to the Lessor, the sum of
36,000 (thirty-six thousand) euros, which corresponds to two monthly rent payments, as a legal deposit, in accordance with Article 36.1 of the current Urban Tenancy Act of 1994, being bound to the Lessor in terms of the provisions of said Act
regarding the constitution of a legal deposit. 
 Once the first five years of the contract term have passed, the deposit may be modified in
accordance with the provisions regarding the modification of the rent. 
 SEVENTH.-Insurance. 

The Lessee agrees to keep current the “Material Damage All-Risk” insurance presently in force, covering the risk of damage and fire to the
Industrial Buildings, which could be caused as a result of the Lessee’s activities. 
 Without prejudice to the Lessee’s right to
change the contracted insurance company, the Lessee agrees to maintain the same coverages and beneficiaries as those that are currently in force, and indicated in the documents attached to this contract as Addendum Number 1.

 

  
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 EIGHTH.-Transfer and Subletting 
 The LESSEE shall not be able to sublet, transfer, or subrogate this contract to third parties, and hereby expressly submits to the provisions of Article 32.1 of the Urban Tenancy Act, the single exception
being the ability to transfer the rights and obligations in this contract to a company of the group, that is, an affiliate of the Lessee, or of its Holding Company, provided that said affiliate be influenced and controlled by the Holding Company.

 None of the aforementioned operations, not even those that could result from a restructuring of the company, or in a merger, transformation,
split off, or a shareholding change, shall confer any right upon the LESSOR to modify the rent, except for the effects of articles 32.2 and 32.3 of the Urban Tenancy Act upon this right. 
 In any case, said situation must be communicated by the LESSEE to the LESSOR. 
 NINTH.-
Other Obligations of the Lessee. 
 The lessee, in addition to the payment of rent, assimilated quantities, and VAT, shall have the
following obligations: 
  

	•	To conserve the leased property in an adequate operational state, and in the event that it is necessary to make any kind of installation, to respect the applicable
municipal ordinances, without affecting the consistency, solidity, and conservation of the property under any circumstance. 

  

	•	To maintain and conserve the interior perimeter zone that exists in the Industrial Buildings. 

 

	•	To not store or handle any explosive, flammable, or unsafe materials in the Industrial Buildings except for those that correspond to the Lessee’s activity, and to
observe the applicable legal provisions at all times. 

 

  
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	 	•	 	 To furnish, in the case of works for the conservation of the Industrial Buildings realized by the Lessor, or in the event of obligatory works imposed
by the Administration, the resulting quantity, the corresponding annual amount of which will be distributed in monthly payments and added as an assimilated quantity to the corresponding monthly invoice. 

 

	 	•	 	 To comply with however many increases may occur in the assimilated expenses, discussed in the fourth clause of this contract, as well as with other
taxes, fees, or judgments that might encumber the property, as well as with those increases that may result from an increase in imposed VAT tax rates. 

  

	 	•	 	 To comply with the judgments or taxes that result from the use of pavements (accesses). 

TENTH.- Other Expenses and Taxes 

Expenses related to the contracting of utilities (water, electricity, telephone, etc.), as well as the consumption that can be the object of separate
measurement, shall be at the risk and expense of the Lessee. 
 All other expenses and taxes resulting from this contract shall be paid
according to the provisions of the law, except for those that are assimilated in nature and detailed in the fourth clause of this contract, expressly noting that the contract is currently subject to Value Added Tax (I.V.A, for its initials in
Spanish) which shall be charged by the Lessor in each of the monthly rent invoices, according to the provisions of the law. 
 ELEVENTH.-
Notices 
 The LESSEE establishes as its domicile for any notices relating to this contract the address which appears as its domicile in
the heading of this contract. 
 The domicile of the LESSOR for these effects, shall be that which appears in the heading of this contract.

 

  
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 TWELFTH.- Applicable Jurisdiction 
 In accordance with Article 38 of the currently in force Urban Tenancy Act, the hearing of any disputes that may arise in relation to this contract shall correspond to the Judge of First Instance of the
place in which the “Industrial Buildings” are located. 
 THIRTEENTH.- Right of Visitation and Inspection 

During the six months that precede the termination of the contract for any of the reasons determined herein, the LESSEE shall permit that the
“Industrial Buildings” be visited by persons interested in renting it, during office hours. 
 The LESSEE hereby authorizes
representatives from the LESSOR to enter the “Industrial Buildings” as many times as are necessary for inspection of the strict compliance with all stipulations of this contract. 
 Nevertheless, the LESSOR shall inform the LESSEE three days in advance of the day upon which visits by interested third parties will be held. 
 FOURTEENTH.- Waivers 
 LESSOR and LESSEE expressly waive the rights recognized in
Articles 19, 21, 22, 32 and 34 of the Law 29/94 of Urban Tenancy insofar as they be modified by the provisions of this contract. 
 The Lessee
also waives the right to preferential acquisition conferred by the current Urban Tenancy Act, in the event of a transfer or sale of the Industrial Buildings, as well as the right to indemnization established by Article 34 of the current Act, when
applicable. 

 

  
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 In witness of the foregoing and for its compliance therewith in good faith, this contract is signed in
duplicate documents to a single effect at the place and on the date previously indicated. 
  

					
	Lessor	  		  	Lessee
			
	/s/ D. Felix Marcilla Pages	  		  	/s/ D. David Torrent Bernadas
			
	D. Félix Marcilla Pages	  		  	D. David Torrent Bernadas

 
 

  
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 [signature] 
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 ADDENDUM NUMBER 1 
 Material Damage All Risk Insurance Documents 
 Document 1. Insurance Annex: Special Conditions
Supplement No. 2, Beneficiary Clause 
 Document 2. Beneficiary Certification Building Situated on Avenida Can Prat s/n, Polígono

 Industrial Can Prat, 08100, Mollet del Vallés

 

  
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 [logo] AIG EUROPE 
 Company [illegible] of American International Group 
 The undersigned,
Mónica Fernández-Gala Sirvent, in name and representation of the Insurance Company AIG EUROPE, NIF No. A-0011559-B, with registered domicile in MADRID, Paseo de la Castellana, 216, by virtue of the power conferred by the public
instrument granted before the Notary of Madrid, D. Francisco Javier Pérez de Camino Palacios on the 9th day of March of 2006, with Protocol Number 718. 
 CERTIFIES 
 That in Material Damage All Risk Policy
No. 0068567031 0010 whose Policyholder is SARA LEE IBERIA, S.L. and as Additional Insured Party is SARA LEE SOUTHERN EUROPE, S.L. 
 In addition it is confirmed that the coverage for the building situated on Avenida Can Prat s/n, Polígono Industrial Can Prat, 08100 Mollet del Vallés, property of ENRIQUE Y FELIX MARCILLA,
S.L., is for a sum of 2,682,000 Euros, and includes a Beneficiary Clause in favor of said proprietor which refers only to the aforementioned building and for the specified sum 
 And for all intents and purposes this certification is issued in Madrid on November 20, 2008. 
  

					
		 	 [stamp:]
	  	/s/ Mónica Fernández-Gala Sirvent
			
		 	 AIG EUROPE
	  	Mónica Fernández-Gala Sirvent

 Paseo de la Castellana 216 – 3rd 4th and 5th Floor – 28046 Madrid

 

  
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 AIG EUROPE 
 A MEMBER OF AMERICAN INTERNATIONAL GROUP, INC. 
  

			
	 TYPE: Material Damage All Risk
	  	POLICY NO.: 0068566334

 SPECIAL CONDITIONS SUPPLEMENT NO. 2 
 This supplement is issued in order to certify that with effective date of October 24, 2008, included in the policy is the following: 
 BENEFICIARY CLAUSE 
  

	a)	In the event of an incident affecting the capital of the Building Insured for the quantity of 2,682,000 €, corresponding to risk, located at Avenida Can Prat s/n,
Polígono Industrial Can Prat, 08010 –BARCELONA, the company agrees not to pay any quantity to the insured without prior consent from ENRIQUE Y FELIX MARCILLA, S.L en C/ Gran Via Laietana, 36, átic 08003 BARCELONA.,
to which shall be subrogated the rights of the insured for an amount equal to that of the financial tenancy contract, for the part not amortized by the date of the incident. 

 

	b)	The company agrees to notify ENRIQUE Y FELIX MARCILLA, S.L. of any contingency regarding the renewal of the insurance policy or the default on payments,
so that there cannot be an interruption in coverage for any reason, providing the invoice to said entity, which shall be able to make the policy effective in favor of the insured. 

All other conditions not modified by this supplement shall remain unchanged and complete. 

 

			
		  	Made in duplicate in Madrid on November 4, 2008
		
	 [stamp] POLICY HOLDER/INSURED

SARA LEE SOUTHERN EUROPE, S.L.
	  	 /s/ Mónica Fernández-Gala Sirvent

AIG EUROPE

	  

[signature]
	  	AIG EUROPE                    

 Page 2 of 2 
  

			
	 Paseo de la Castellana 216, – 28046 Madrid, Spain
                 [illegible]
	  	 Avda. Diagonal, 618 – 9th, A-B 08021 Barcelona, Spain

[illegible]                

 Mollet, December 17, 2010

 

  
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 ACCELERATED RESCISSION OF CONTRACT BY MUTUAL ASSENT 

Rental Contract for Purposes Other Than that of Housing 
 Avenida Can Prat s/n, Polígono Industrial Can Prat, 08100, Mollet del Vallés 
  

	I.	 On the 15th day of January of 1986, D. Enrique Marcilla Pages, of legal age, married, of the commerce and city of Barcelona and having D.N.I. [Identity
Document] Number 37013968, and D. Félix Marcilla Pages, of legal age, married, of the commerce and city of Barcelona and having D.N.I. Number 37.014.443, in the name and in representation of both by virtue of the instrument of power of
attorney for the mercantile company Enrique y Félix Marcilla S.L., which has domicile in Barcelona, calle Escuelas Pías number 73, registered in the Mercantile Registry of Barcelona, volume 21087, folio number 220, page num.
B-16417, with CIF [Tax Code] No. B59810275, represented by D. Félix Marcilla Pages, of legal age, having domicile in Barcelona, calle Escuelas Pías number 73 – 79, 2nd, with D.N.I [Identity Document] No. 37013968E, as Administrator for the Lessor; and D. Francisco Javier Tomas
Forater, of legal age, married, of the city of Barcelona, having D.N.I. No. 37.984.663, in the name and in representation of Cafes a la Crema J. Marcilla, S.A., with N.I.F. [Tax Number] No. A08027021, which company is now named Sara Lee
Southern Europe, S.L. Said change of name results from public instrument authorized by Barcelona Notary D. Tomás Giménez Duart, on the 1st of February of 2000, with protocol number 461. The company was named Cafes a la Crema J.
Marcilla, S.A., and then Douwe Egberts España S.A., and finally Sara Lee Southern Europe, S.L., represented herein by D. David Torrent Bernadas, who has D.N.I. No. 43393784Y, by virtue of the power granted thereupon by the public
instrument authorized by the Notary of Barcelona Da. Rocio Maestre Cavanna, on June 14, 2007, with protocol number 2043, which resulted in inscription 111 in the Mercantile Registry of Barcelona, as the Lessee, entered into a rental contract for
purposes other than that of housing regarding the property located on Avenida Can Prat s/n, Polígono Industrial Can Prat, located in the municipality of Mollet del Vallés, in Barcelona.

 

  
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	II.	Both parties hereby declare their mutual assent to the accelerated termination of the rental contract as of the 31st of December 2010, the date upon which said
termination shall take effect. 

  

	III.	The Lessee expressly declares that the Lessor has yet to restitute the complete balance of the legal deposit which was formalized on its respective day, which amounts
to twenty-five thousand four hundred thirty euros and sixty-three cents (25,430.63€), the Lessor having agreed to restitution by January 30, 2011 at the latest. 

 Thus the parties state and declare, at the place and on the date indicated in the heading, indicating their conformity in the space below, in duplicate documents to a single effect. 

 

			
	/s/ D. Félix Marcilla Pages	  	/s/ D. David Torrent Bernadas
		
	Signed: Lessee	  	Signed: Lessor

 
 

  
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 Mollet del Vallés, February 11, 2011 

The parties, 
  

	 	I.	 As party of the first part, the mercantile company Enrique y Félix Marcilla S.L., with domicile in Barcelona, calle Escuelas Pías
number 73, inscribed in the Mercantile Registry of Barcelona, volume 21087, folio number 220, page num. B-16417, with CIF [Tax Code] no. B59810275, represented by D. Félix Marcilla Pages, of legal age, having domicile in Barcelona, calle
Escuelas Pías number 73 – 79, 20, with D.N.I [Identity Document] No. 37013968E, as LESSOR; and 

  

	 	II.	Sara Lee Southern Europe, S.L., with domicile at Mollet del Vallés (08100 Barcelona), Avenida Can Prat, number 25, with C.I.F No. B-08027021, represented
by its Legal Representative, D. David Torrent Bernadas, THE LESSEE. 

 Hereby state, 

 

	 	III.	That on the 17th of December, 2010, they signed a rental contract, the subject of which was “The Piece of Land Situated at the Terminus of Mollet del
Vallés, in the Industrial Polygon ‘Can Prat,’” located at street Number 4, without number, upon which there has been built a complex of industrial warehouses, eight of which are only one story, and one of which is of one story
and one floor for offices, locker rooms, and dining rooms, each of which measure 16.40 meters wide by 30 meters long or deep, which results in a total built area of 4,428 square meters, plus 492 meters squared for the aforementioned floor, for a
total of 4,920 meters squared in built area. The land area measures twelve thousand seven hundred fifty-nine square meters eighty-one square decimeters. Adjacent: on its east border, the road, what is today street no.4, of the Industrial Polygon
“Can Prat,” on the right entering north, with Francisco Falguera and Dolores Motoliú and part of the other with Salvador Ciurana; and at the rear or back, east, with the Barcelona to France railway line. It is Registered Land
No. 14,862, inscribed to Volume 1,184, Book 142 of Mollet, Folio No. 56, 2nd inscription.” 

  

	 	IV.	That with the intention of correcting the error which exists in the specification of quantity for the legal deposit, stipulated by the LAU/94, Article 36, they hereby
amend the SIXTH clause of the fifth page of said contract, completely substituting the currently recorded passage for the following one, being the following amending passage inseparably integrated into the aforementioned contract as of this moment:

 “The Lessee shall pay to the Lessor, in return for the corresponding receipt, the sum of 46,000
(forty-six thousand) euros, which corresponds to two monthly rent payments as a legal deposit, in accordance with Article 36.1 of the LAU/94 currently in force, being bound to the Lessor in terms of the provisions of said law regarding the
constitution of a legal deposit. 
 Once the first five years of the contract term have passed, the deposit may be
modified in accordance with the provisions regarding the modification of the rent.” 

  
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	/s/ D. Félix Marcilla Pages	  	/s/ David Torrent
		
	THE LESSOR	  	THE LESSEE

  
 -2/1-

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