Document:

EX-10.22

 Exhibit 10.22 

 
  

 
 AGREEMENT OF LEASE 

between 
 SLG TOWER 45
LLC 
 Landlord 

and 
 SCHRODINGER, INC.

 Tenant 
 Dated
as of July 8, 2009 
 Entire rentable portion of seventeenth (17th) floor

 120 West 45th Street 

New York, New York 
  

 
  

 TABLE OF CONTENTS 

 

							
	 TABLE OF CONTENTS
	  	 	I	 
			
	 ARTICLE 1
	 	DEMISE; PREMISES AND PURPOSE	  	 	1	 
			
	 ARTICLE 2
	 	TERM	  	 	2	 
			
	 ARTICLE 3
	 	RENT AND ADDITIONAL RENT	  	 	2	 
			
	 ARTICLE 4
	 	ASSIGNMENT/SUBLETTING	  	 	3	 
			
	 ARTICLE 5
	 	DEFAULT	  	 	9	 
			
	 ARTICLE 6
	 	RELETTING, ETC.	  	 	10	 
			
	 ARTICLE 7
	 	LANDLORD MAY CURE DEFAULTS	  	 	11	 
			
	 ARTICLE 8
	 	ALTERATIONS	  	 	11	 
			
	 ARTICLE 9
	 	LIENS	  	 	16	 
			
	 ARTICLE 10
	 	REPAIRS	  	 	16	 
			
	 ARTICLE 11
	 	FIRE OR OTHER CASUALTY	  	 	17	 
			
	 ARTICLE 12
	 	END OF TERM	  	 	19	 
			
	 ARTICLE 13
	 	SUBORDINATION AND ESTOPPEL, ETC.	  	 	19	 
			
	 ARTICLE 14
	 	CONDEMNATION	  	 	23	 
			
	 ARTICLE 15
	 	REQUIREMENTS OF LAW	  	 	23	 
			
	 ARTICLE 16
	 	CERTIFICATE OF OCCUPANCY	  	 	24	 
			
	 ARTICLE 17
	 	POSSESSION	  	 	24	 
			
	 ARTICLE 18
	 	QUIET ENJOYMENT	  	 	25	 
			
	 ARTICLE 19
	 	RIGHT OF ENTRY	  	 	25	 
			
	 ARTICLE 20
	 	INDEMNITY	  	 	26	 
			
	 ARTICLE 21
	 	LANDLORD’S LIABILITY, ETC.	  	 	26	 
			
	 ARTICLE 22
	 	CONDITION OF PREMISES	  	 	26	 
			
	 ARTICLE 23
	 	CLEANING	  	 	27	 
			
	 ARTICLE 24
	 	JURY WAIVER	  	 	28	 
			
	 ARTICLE 25
	 	NO WAIVER, ETC.	  	 	28	 
			
	 ARTICLE 26
	 	OCCUPANCY AND USE BY TENANT	  	 	29	 
			
	 ARTICLE 27
	 	NOTICES	  	 	29	 
			
	 ARTICLE 28
	 	WATER	  	 	29	 
			
	 ARTICLE 29
	 	SPRINKLER SYSTEM	  	 	30	 
			
	 ARTICLE 30
	 	HEAT, ELEVATOR, ETC.	  	 	30	 
			
	 ARTICLE 31
	 	SECURITY DEPOSIT	  	 	31	 

  
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	 ARTICLE 32
	 	TAX ESCALATION	  	 	31	 
			
	 ARTICLE 33
	 	RENT CONTROL	  	 	34	 
			
	 ARTICLE 34
	 	SUPPLIES	  	 	34	 
			
	 ARTICLE 35
	 	AIR CONDITIONING	  	 	35	 
			
	 ARTICLE 36
	 	SHORING	  	 	37	 
			
	 ARTICLE 37
	 	EFFECT OF CONVEYANCE, ETC.	  	 	37	 
			
	 ARTICLE 38
	 	RIGHTS OF SUCCESSORS AND ASSIGNS	  	 	37	 
			
	 ARTICLE 39
	 	CAPTIONS	  	 	38	 
			
	 ARTICLE 40
	 	BROKERS	  	 	38	 
			
	 ARTICLE 41
	 	ELECTRICITY	  	 	38	 
			
	 ARTICLE 42
	 	LEASE SUBMISSION	  	 	39	 
			
	 ARTICLE 43
	 	INSURANCE	  	 	39	 
			
	 ARTICLE 44
	 	SIGNAGE	  	 	42	 
			
	 ARTICLE 45
	 	INTENTIONALLY DELETED	  	 	42	 
			
	 ARTICLE 46
	 	FUTURE CONDOMINIUM CONVERSION	  	 	42	 
			
	 ARTICLE 47
	 	MISCELLANEOUS	  	 	43	 
			
	 ARTICLE 48
	 	INTENTIONALLY DELETED	  	 	43	 
			
	 ARTICLE 49
	 	OPERATING EXPENSE ESCALATION	  	 	43	 
			
	 ARTICLE 50
	 	RENEWAL OPTION	  	 	50	 
			
	 ARTICLE 51
	 	CANCELLATION RIGHT	  	 	52	 
			
	 ARTICLE 52
	 	EXISTING TENANTS	  	 	53	 
			
	 ARTICLE 53
	 	EXISTING PERSONALTY	  	 	55	 
			
	 ARTICLE 54
	 	HAZARDOUS MATERIALS; ACM	  	 	55	 
			
	 ARTICLE 55
	 	RULES AND REGULATIONS	  	 	56	 

  
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 INDEX OF DEFINED TERMS 

 

					
	TERM	  	PAGE	 
	Additional Rent	  	 	2	 
	Alterations	  	 	12	 
	Base Insurance Expenses	  	 	46	 
	Base Tax Year	  	 	33	 
	Base Year	  	 	46	 
	Brokers	  	 	40	 
	Building	  	 	1	 
	Building Cleaning Contractor	  	 	28	 
	Building Insurance Expenses	  	 	46	 
	Building Project	  	 	33,46	 
	Commencement Date	  	 	2	 
	Comparative Insurance Year	  	 	46	 
	Comparative Year	  	 	33,46	 
	Cooling Season	  	 	37	 
	Declaration	  	 	45	 
	Delivery Personnel	  	 	1	 
	Existing HVAC Equipment	  	 	37	 
	Expense Payment	  	 	50	 
	Expenses	  	 	47	 
	Expiration Date	  	 	2	 
	Extension Right	  	 	53	 
	Extension Term	  	 	53	 
	Extension Term Comm. Date	  	 	53	 
	Fixed Annual Rent	  	 	2	 
	FMRV	  	 	54	 
	HVAC System	  	 	37	 
	Independent Broker	  	 	54	 
	Insurance Expense Payment	  	 	50	 
	Landlord	  	 	1	 
	Landlord’s Restoration Work	  	 	18	 
	Landlord’s Broker	  	 	54	 
	Landlord’s Broker’s Letter	  	 	54	 
	Lease	  	 	1	 
	Leaseback Area	  	 	4	 
	Named Tenant	  	 	53	 
	Percentage	  	 	46	 
	Premises	  	 	1	 
	Real Estate Taxes	  	 	34	 
	Recapture Date	  	 	4	 
	Rent	  	 	2	 
	Security	  	 	32	 
	Supplemental Systems	  	 	37	 
	Tenant	  	 	1	 

  
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	Tenant Cleaning Services	  	 	28	 
	Tenant’s Recapture Offer	  	 	3	 
	Tenant’s Share	  	 	33	 
	Tenant’s Broker	  	 	54	 
	Tenant’s Broker’s Letter	  	 	54	 
	Term	  	 	2	 

  
 iv 

 LEASE (this “Lease”) made as of the 8th day of July 2009 between SLG TOWER 45 LLC having an office c/o SL Green Realty Corp., at 420 Lexington Avenue, New York, New York, 10170, hereinafter referred to as “Landlord”, and
SCHRODINGER, INC., a Delaware corporation having an office at 120 West 45th Street, 29th floor, New York, New York 10036, hereinafter referred
to as “Tenant”. 
 W I T N E S S E T H 

Landlord and Tenant, in consideration of the mutual agreements herein contained and other good and valuable consideration, the receipt and
sufficiency of which is hereby acknowledged, hereby covenant and agree as follows: 
 ARTICLE 1 

DEMISE; PREMISES AND PURPOSE 

1.01 Landlord hereby leases and demises to Tenant, and Tenant hereby hires and takes from Landlord, those certain premises located on and
comprising the entire rentable portion of the seventeenth (17th) floor, approximately as indicated by hatch marks on the plan annexed hereto and made a part hereof as Exhibit A (the
“Premises”) in the building known as and located at 120 West 45th Street, New York, New York (the “Building”) subject to the provisions of this Lease. 

1.02 The Premises shall be used and occupied for executive and general office use consistent with that found in Class “A” high-rise
office buildings located in midtown Manhattan only and for no other purpose. 
 1.03 Neither the Premises, nor the halls, corridors,
stairways, elevators or any other portion of the Building shall be used by the Tenant or the Tenant’s servants, employees, licensees, invitees or visitors in connection with the aforesaid permitted use or otherwise so as to cause any congestion
of the public portions of the Building or the entranceways, sidewalks or roadways adjoining the Building whether by trucking or by the congregating or loitering thereon of the Tenant and/or the servants, employees, licensees, invitees or visitors of
the Tenant. 
 1.04 Tenant shall not permit messengers, delivery personnel or other individuals providing such services to Tenant
(“Delivery Personnel”) to: (i) assemble, congregate or to form a line outside of the Premises or the Building or otherwise impede the flow of pedestrian traffic outside of the Premises or Building or (ii) park or otherwise
leave bicycles, wagons or other delivery carts outside of the Premises or the Building except in locations outside of the Building designated by Landlord from
time-to-time. Tenant shall require all Delivery Personnel to comply with rules promulgated by Landlord from time-to-time regarding the use of outside messenger services. 

  
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 ARTICLE 2 

TERM 
 2.01 The
Premises are leased for a term of approximately ten (10) years, six (6) months (the “Term”) which shall commence as of July 8, 2009 (the “Commencement Date”) and shall end on January 31, 2020
(the “Expiration Date”) or on such earlier date upon which the Term shall expire, be canceled or terminated pursuant to any of the conditions or covenants of this Lease or pursuant to law. 

ARTICLE 3 
 RENT AND
ADDITIONAL RENT 
 3.01 Tenant shall pay fixed annual rent without electricity (the “Fixed Annual Rent”) at the
rates provided for in the schedule annexed hereto and made a part hereof as Exhibit B in equal monthly installments in advance on the first (1st) day of each calendar month during the Term, except
that the first (1st) monthly installment of Fixed Annual Rent shall be paid by Tenant upon its execution of this Lease. All sums other than Fixed Annual Rent payable hereunder shall be deemed to
be “Additional Rent” and shall be payable within thirty (30) days of demand, unless other payment dates are hereinafter provided. Tenant shall pay all Fixed Annual Rent and Additional Rent due hereunder at the office of
Landlord or such other place as Landlord may designate, payable in United States legal tender, by cash, wire transfer or by good and sufficient check drawn on a bank which is a member of the New York Clearing House or a successor thereto, and
without any set off or deduction whatsoever, except as may be otherwise set forth in the express provisions located elsewhere in this Lease. The term “Rent” as used in this Lease shall mean Fixed Annual Rent and Additional Rent.
Landlord may apply payments made by Tenant towards the payment of any item of Fixed Annual Rent and/or Additional Rent payable hereunder notwithstanding any designation by Tenant as to the items against which any such payment should be credited.

 3.02 Subject to the provisions hereof, if and so long as Tenant is not in monetary or material
non-monetary default under this Lease after notice, (in which event Tenant’s rights under this Article shall be suspended until such time, if ever, as Tenant fully cures the default alleged in such
notice, at which time Tenant’s rights hereunder shall be reinstated) the first ten (10) monthly installments of Fixed Annual Rent (without electricity) accruing under the Lease shall be abated by the sum of $51,676.00 per month (for a
total abatement of $503,841.00) so that Tenant’s obligation to pay Fixed Annual Rent (without electricity) shall be fully abated for the first nine (9) months of the Term and partially abated for the tenth (10th) month of the Term. The day immediately following the application of all abatements to which Tenant is entitled pursuant to the provisions of this Section 3.02 shall hereinafter be referred to
as the “Rent Commencement Date”. 

  
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 ARTICLE 4 

ASSIGNMENT/SUBLETTING 

4.01 Neither Tenant nor Tenant’s legal representatives or successors in interest by operation of law or otherwise, shall assign, mortgage
or otherwise encumber this Lease, or sublet or permit all or part of the Premises to be used by others, without the prior written consent of Landlord in each instance, except to the extent otherwise permitted by the express terms located elsewhere
in this Article. The transfer of a majority of the issued and outstanding capital stock of any corporate tenant or sublessee of this Lease or a majority of the total interest in any partnership tenant or sublessee or company, however accomplished,
and whether in a single transaction or in a series of related or unrelated transactions, the conversion of a tenant or sublessee entity to either a limited liability company or a limited liability partnership or the merger or consolidation of a
corporate tenant or sublessee, shall be deemed an assignment of this Lease or of such sublease. If this Lease is assigned, or if the Premises or any part thereof is underlet or occupied by anybody other than Tenant, Landlord may, after default by
Tenant after notice and the expiration of any applicable cure periods, collect rent from the assignee, undertenant or occupant, and apply the net amount collected to the rent herein reserved, but no assignment, underletting, occupancy or collection
shall be deemed a waiver of the provisions hereof, the acceptance of the assignee, undertenant or occupant as tenant, or a release of Tenant from the further performance by Tenant of covenants on the part of Tenant herein contained. The consent by
Landlord to an assignment or underletting shall not in any way be construed to relieve Tenant from obtaining the express consent in writing of Landlord to any further assignment or underletting to the extent required under this Article. In no event
shall any permitted sublessee assign or encumber its sublease or further sublet all or any portion of its sublet space, or otherwise suffer or permit the sublet space or any part thereof to be used or occupied by others, without Landlord’s
prior written consent in each instance. A modification, amendment or extension of a sublease shall be deemed a sublease. The listing of the name of a party or entity other than that of Tenant on the Building or floor directory or on or adjacent to
the entrance door to the Premises shall neither grant such party or entity any right or interest in this Lease or in the Premises nor constitute Landlord’s consent to any assignment or sublease to, or occupancy of the Premises by, such party or
entity. If any lien is filed against the Premises or the Building of which the same form a part for brokerage services claimed to have been performed for Tenant in connection with any such assignment or sublease, whether or not actually performed,
the same shall be discharged within thirty (30) days after Tenant has actual notice thereof, at Tenant’s expense, by filing the bond required by law, or otherwise, and paying any other necessary sums, and Tenant agrees to indemnify
Landlord and its agents and hold them harmless from and against any and all claims, losses or liability resulting from such lien for brokerage services rendered. 

4.02 If Tenant desires to assign this Lease or to sublet all or any portion of the Premises, it shall first submit in writing to Landlord the
documents described in Section 4.06 hereof, and shall offer in writing (“Tenant’s Recapture Offer”), (i) with respect to a prospective assignment, to assign this Lease to Landlord without any payment of moneys or other
consideration therefor and with a release by Landlord of Tenant from any obligations under the Lease accruing after the effective date of such assignment; or, (ii) with respect to a prospective subletting of all or any lesser portion of the
Premises for all or substantially all of the remainder of the Term, to terminate this Lease as to the portion of the Premises involved (the “Leaseback Area”); or (iii) with respect to a prospective subletting of all or
any lesser portion of the Premises for less than all or substantially all of the remainder of the Term, to sublet to Landlord the Leaseback Area for the term specified by Tenant in its Term Sheet, as defined in Section 4.06, below, and at the
rate of Fixed Annual Rent and Additional Rent, and otherwise on the same terms, covenants and conditions (including provisions relating to escalation rents), as are contained in the Term Sheet and herein and as are allocable and applicable to the
portion of the Premises to be covered by such subletting. Tenant’s Recapture Offer shall specify the date when the Leaseback Area will be made available to Landlord, which date shall be in no event earlier than thirty (30) days nor later
than one hundred eighty (180) days following the acceptance of Tenant’s Recapture Offer (the “Recapture Date”). Landlord shall have a period of thirty (30) days from the receipt of such Tenant’s Recapture Offer
to either accept or reject Tenant’s Recapture Offer by means of assignment, subletting or termination, as the case may be. 

  
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 4.03 If Landlord exercises its option to terminate this Lease as to the Leaseback Area, then
(i) the Term for the Leaseback Area shall end on the date that such sublet was to become effective or commence, and (ii) Tenant shall surrender to Landlord and vacate the Leaseback Area in accordance with the terms and conditions of the
Term Sheet, (iii) the Fixed Annual Rent and Additional Rent due hereunder shall be paid and apportioned to such date, and (iv) Landlord shall be free to lease the Leaseback Area (or any portion thereof) to any individual or entity
including, without limitation, Tenant’s proposed assignee or subtenant. 
 4.04 If Landlord shall accept Tenant’s Recapture Offer
as to a subletting or assignment to Landlord, Tenant shall then execute and deliver to Landlord, or to anyone designated or named by Landlord, an assignment or sublease, as the case may be, in either case in a form reasonably satisfactory to
Landlord’s counsel and Tenant’s counsel. 
 If a sublease is so made to Landlord, or to anyone designated or named by Landlord, it
shall expressly: 
 (i) permit Landlord to make further subleases of all or any part of the Leaseback Area and (at no cost or expense to
Tenant) to make and authorize any and all changes, alterations, installations and improvements in such space as necessary, and Tenant shall have no obligation to remove any of same or to restore the Premises with respect thereto on the Expiration
Date or earlier termination of this Lease; 
 (ii) provide that Tenant will at all times permit reasonably appropriate means of ingress to
and egress from the Leaseback Area; 
 (iii) negate any intention that the estate created under such sublease be merged with any other estate
held by either of the parties; 
 (iv) provide that Landlord shall accept the Leaseback Area “as is” except that Landlord, at
Tenant’s expense, shall perform all such work and make all such alterations as may be required physically to separate the Leaseback Area from the remainder of the Premises and to permit lawful occupancy, it being intended that Tenant shall have
no other cost or expense in connection with the subletting of the Leaseback Area; 

  
 4 

 (v) provide that at the expiration of the term of such sublease Tenant will accept the
Leaseback Area in its then existing condition, provided that such condition is suitable for normal office use and subject to the obligations of Landlord to make such repairs thereto as may be necessary to preserve the Leaseback Area in good order
and condition, ordinary wear and tear excepted. 
 4.05 Landlord shall indemnify and save Tenant harmless from all obligations under this
Lease as to the Leaseback Area during the period of time it is so sublet, except for Fixed Annual Rent and Additional Rent, if any, due under the within Lease, which are in excess of the rents and additional sums due under such sublease. Subject to
the foregoing, performance by Landlord, or its designee, under a sublease of the Leaseback Area shall be deemed performance by Tenant of any similar obligation under this Lease and any default under any such sublease shall not give rise to a default
under a similar obligation contained in this Lease, nor shall Tenant be liable for any default under this Lease or deemed to be in default hereunder if such default is occasioned by or arises from any act or omission of the tenant under such
sublease or is occasioned by or arises from any act or omission of any occupant holding under or pursuant to any such sublease. 
 4.06 If
Tenant requests Landlord’s consent to a specific assignment or subletting, it shall submit in writing to Landlord with respect to each such prospective assignment or subletting (i) a fully negotiated, term sheet agreed to by both Tenant
and the proposed assignee or sublessee, as the case may be, containing all of the material terms and conditions of the proposed assignment or sublease including, without limitation, the name and address of the proposed assignee or sublessee and
reasonably satisfactory information as to the nature and character of the business of the proposed assignee or sublessee and the nature of its proposed use of the space (the “Term Sheet”), and (ii) banking, financial or other
credit information relating to the proposed assignee or sublessee reasonably sufficient to enable Landlord to determine the financial responsibility and character of the proposed assignee or sublessee. 

4.07 If Landlord shall not have accepted Tenant’s Recapture Offer and Landlord shall not have terminated this Lease, as provided for in
Section 4.02 hereof, then Landlord shall respond to Tenant’s request for consent to a specific assignment or subletting within the same thirty (30) days after receipt of Tenant’s Recapture Offer as set forth in Section 4.02,
above, and will not unreasonably withhold its consent to Tenant’s request for consent to such specific assignment or subletting for the use permitted under this Lease, provided that: 

(i) The Premises shall not, without Landlord’s prior consent, have been publicly advertised for assignment or subletting at a rental rate
lower than the higher of (a) the Fixed Annual Rent and all Additional Rent then payable, or (b) the then prevailing rental rate for other space in the Building; 

(ii) The proposed assignee or subtenant shall have a financial standing, be of a character, be engaged in a business, and propose to use the
Premises, in a manner consistent with the permitted use and in keeping with the standards of the Building; 

  
 5 

 (iii) The proposed assignee or subtenant shall not then be a tenant, subtenant, assignee or
occupant of any space in the Building, nor shall the proposed assignee or subtenant be a person or entity who has dealt with Landlord or Landlord’s agent (directly or through a broker) with respect to space in the Building during the four
(4) months immediately preceding Tenant’s request for Landlord’s consent; 
 (iv) The character of the business to be
conducted in the Premises by the proposed assignee or subtenant shall not be likely to increase operating expenses or the burden on existing cleaning services, elevators or other services and/or systems of the Building; 

(v) In case of a subletting, the subtenant shall be expressly subject to all of the obligations of Tenant under this Lease and the further
condition and restriction that such sublease shall not be assigned, encumbered or otherwise transferred or the Premises further sublet by the subtenant in whole or in part, or any part thereof suffered or permitted by the subtenant to be used or
occupied by others, without the prior written consent of Landlord in each instance, except that Landlord’s consent shall not be required for transfers by a sublessee in the nature of those described in Section 4.12, below (in such
instances, references therein to “Tenant” shall be deemed to refer to “subtenant”); 
 (vi) No subletting shall end later
than one (1) day before the Expiration Date nor shall any subletting be for a term of less than two (2) years unless it is a sublease for the entire Premises; 

(vii) At no time shall there be more than three (3) occupants, including Tenant, in the Premises (it being agreed that Related Entities,
as defined in Section 4.13, below, shall not be deemed to be occupants of the Premises for purposes hereof so long as the portion of the Premises used or occupied from them is not separately demised from the remainder of the Premises and has no
separate means of ingress to and egress from the public corridors of the Building); 
 (viii) Tenant shall reimburse Landlord on demand for
any actual, out-of-pocket costs, including attorneys’ fees and disbursements, that may be incurred by Landlord in connection with said assignment or sublease; 

(ix) The character of the business to be conducted in the Premises by the proposed assignee or subtenant shall not require any alterations,
installations, improvements, additions or other physical changes to be performed, or made to, any portion of the Building or the Real Property other than the Premises; and 

(x) The proposed assignee or subtenant shall not be any entity which is entitled to diplomatic or sovereign immunity or which is not subject to
service of process in the State of New York or to the jurisdiction of the courts of the State of New York and the United States located in New York County. 

4.08 Any consent of Landlord under this Article shall be subject to the terms of this Article and conditioned upon there being no default by
Tenant, after notice and beyond any applicable cure periods, under any of the terms, covenants and conditions of this Lease at the time that Landlord’s consent to any such subletting or assignment is requested and on the date of the
commencement of the term of any proposed sublease or the effective date of any proposed assignment. Tenant acknowledges and agrees that no assignment or subletting shall be effective unless and until Tenant, upon receiving any necessary
Landlord’s written consent (and unless it was theretofore delivered to Landlord) causes a duly executed copy of the sublease or assignment to be delivered to Landlord within ten (10) days after execution thereof. Any such sublease shall
provide that the sublessee shall not violate, or create a default under, the applicable terms and conditions of this Lease to be performed by the Tenant hereunder. Any such assignment of this Lease shall contain an assumption by the assignee of all
of the terms, covenants and conditions of this Lease to be performed by the Tenant from and after the effective date thereof. 

  
 6 

 4.09 INTENTIONALLY DELETED 

4.10 If Landlord shall not have accepted Tenant’s Recapture Offer hereunder and Landlord has not elected to terminate this Lease, and
Tenant effects any assignment or subletting, then Tenant thereafter shall pay to Landlord a sum equal to fifty (50%) percent of: (a) any rent or other consideration paid to Tenant by any subtenant (after deducting the reasonable, out-of-pocket cost to Tenant, if any, in effecting the subletting or assignment, for reasonable alterations, advertising expenses, brokerage commissions, reasonable rent
concessions and legal fees) which is in excess of the rent allocable to the subleased space which is then being paid by Tenant to Landlord pursuant to the terms hereof, and (b) any other profit or gain realized by Tenant (after deducting the
reasonable, out-of-pocket cost to Tenant, if any, in effecting the subletting or assignment, for reasonable alterations, advertising expenses, brokerage commissions,
reasonable rent concessions and legal fees not previously deducted pursuant to subsection (a), above) from any such subletting or assignment. 

4.11 In no event shall Tenant be entitled to make, nor shall Tenant make, any claim, and Tenant hereby waives any claim, for money damages (nor
shall Tenant claim any money damages by way of set-off, counterclaim or defense) based upon any claim or assertion by Tenant that Landlord has unreasonably withheld or unreasonably delayed its consent or
approval to a proposed assignment or subletting as provided for in this Article. Tenant’s sole remedy shall be an action or proceeding to enforce any such provision, or for specific performance, injunction or declaratory judgment, or to submit
the matter to binding arbitration before the American Arbitration Association or any successor organization, in accordance with the rules, regulations and/or procedures for expedited proceedings then obtaining of the American Arbitration Association
or such successor organization. The parties shall jointly designate an independent arbitrator (the “Arbitrator”). In the event that the parties shall be unable to jointly agree on the designation of the Arbitrator within five (5) days
after written request by either party, the parties shall allow the American Arbitration Association, or any successor organization, to designate the Arbitrator in accordance with the rules, regulations and/or procedures for expedited proceedings
then obtaining of the American Arbitration Association or such successor organization. The arbitration shall be held at New York, New York, on ten (10) days notice, within fifteen (15) days of the appointment of the Arbitrator. The
Arbitrator shall conduct such hearings, discovery and investigations as he/she may deem appropriate, provided that they shall be concluded within twenty (20) days after the appointment of the Arbitrator. Within five (5) days after the
conclusion thereof, the Arbitrator shall issue a determination. The determination of the arbitrator shall be conclusive and binding upon the parties and shall be set forth, along and with the Arbitrator’s rationale for such determination, in a
written report delivered to the parties. Each party shall pay its own counsel fees and expenses, if any, in connection with any arbitration under this Article. The Arbitrator appointed pursuant to this Article shall be an independent real estate
professional with at least ten (10) years’ experience in commercial real estate. The Arbitrator shall not have the power to add to, modify or delete any of the provisions of this Agreement. The sole function of the Arbitrator shall be to
determine whether Landlord has acted reasonably and whether to require Landlord to grant such consent or approval; the Arbitrator may not award damages or grant any other monetary award or relief. Landlord shall reimburse Tenant by rent credit for
Tenant’s reasonable attorneys’ fees should Tenant prevail on the merits and obtain a final, non-appealable order, judgment or award in its favor. 

  
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 4.12 Anything hereinabove contained to the contrary notwithstanding, the
“recapture” provisions of this Article and the provisions of Section 4.10 hereof shall not apply in connection with, and Landlord’s consent shall not be required for (a) an assignment of this Lease, or sublease of all or
part of the Premises for the uses permitted hereunder, to a Related Entity or (b) in connection with a deemed assignment of this Lease resulting from a transfer of a majority of the issued and outstanding shares of capital stock or ownership
interests of Tenant provided that such transfer shall be for a legitimate business purpose and not principally for the purpose of transferring this Lease, and provided further, with respect to both clauses (a) and (b), to the extent applicable,
that: (i) Landlord is given prior notice thereof and reasonably satisfactory proof that the requirements of this Article 4 (to the extent applicable to the transaction) have been met and Tenant agrees to remain primarily liable, jointly and
severally, with any assignee, for the obligations of Tenant under this Lease and (ii) in Landlord’s reasonable judgment the proposed assignee or subtenant is engaged in a business and the Premises, or the relevant part thereof, will be
used in a manner which (x) is in keeping with the standards of the Building and (y) would not adversely affect or increase Landlord’s cost in the operation of the Building. 

4.13 For purposes of this Article: 

A. a “Related Entity” shall mean: 

(x) a wholly-owned subsidiary of Tenant or any corporation or entity which controls or is controlled by Tenant or is under common control with
Tenant, or 
 (y) any entity (a “Successor Entity”) (i) to which substantially all the assets of Tenant are transferred, or
(ii) into which Tenant may be merged or consolidated, provided that in either such case both the net worth and ratio of current assets to current liabilities (exclusive of good will) of such transferee or of the resulting or surviving
corporation or other business entity, as the case may be, as certified by the certified public accountants of such transferee or the resulting or surviving business entity in accordance with generally accepted accounting principles, consistently
applied, is not less than Tenant’s net worth and ratio of current assets to current liabilities (exclusive of good will), as so certified, as of the day immediately prior to such transaction and provided also that any such transaction complies
with the other provisions of this Article; and 
 B. the term “control” shall mean, in the case of a corporation or other
entity, ownership or voting control, directly or indirectly, of at least fifty (50%) percent of all of the general or other partnership (or similar) interests therein and the power to determine the actions of such entity. 

  
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 4.14 Notwithstanding anything contained in this Lease to the contrary, Tenant shall be
permitted to license up to 1,200 rentable square feet of “desk space” within the Premises for the uses permitted under this Lease only and otherwise in compliance in all respects with the terms, covenants and conditions of this Lease,
provided that: (i) the same does not result in the addition of more than three (3) additional persons as occupants within the Premises; (ii) any such “desk space” so licensed by Tenant is not separately demised and does not
have separate means of ingress to or egress from the public corridors of the Building; and (iii) a copy of each “desk space” license agreement is delivered to Landlord no less than ten (10) days in advance of the commencement
date thereof (or, if no such written agreement exists, Tenant shall deliver to Landlord a written description of the terms of such oral license agreement), including, but not limited to, the identity of and contact information for each “desk
space” licensee. In the event of a licensing of “desk space” by Tenant in accordance with the provisions of this Section 4.14, the “recapture” and termination rights of Landlord under this Article 4 and the provisions
of Sections 4.02, 4.03, 4.04, 4.05, 4.07(vi),(vii) and 4.10 shall not apply, but the provisions of Section 4.07 (i) through (v) and (viii) through (x) shall apply thereto as if all references therein to a “sublease” or
“assignment” were, instead, to a “license”. 
 ARTICLE 5 

DEFAULT 
 5.01
Landlord may terminate this Lease on five (5) days’ notice: (a) if Fixed Annual Rent or Additional Rent is not paid within five (5) days after written notice from Landlord that same was due and not paid; or (b) if Tenant
shall have failed to cure a default in the performance of any covenant of this Lease (except the payment of Rent), or any rule or regulation hereinafter set forth, within twenty (20) days after written notice thereof from Landlord, or if such
default cannot be completely cured in such time, if Tenant shall not promptly proceed to cure such default within said twenty (20) days, or shall not complete the curing of such default with due diligence; or (c) when and to the extent
permitted by law, if a petition in bankruptcy shall be filed by Tenant or if Tenant shall make a general assignment for the benefit of creditors, or receive the benefit of any insolvency or reorganization act, or if a petition in bankruptcy is filed
against tenant and same is not dismissed within sixty (60) days after Tenant has actual notice of the filing thereof; or (d) if a receiver or trustee is appointed for any portion of Tenant’s property and such appointment is not
vacated within thirty (30) days; or (e) if an execution or attachment shall be issued under which the Premises shall be taken or occupied or attempted to be taken or occupied by anyone other than Tenant; or (f) if the Premises are
abandoned by Tenant; or (g) if Tenant shall default after notice and beyond any applicable cure period under any other lease between Tenant and Landlord at the Building. At the expiration of the five (5) day notice period, this Lease and
any rights of renewal or extension thereof shall terminate as completely as if that were the date originally fixed for the expiration of the Term of this Lease, but Tenant shall remain liable as hereinafter provided. 

5.02 In the event that Tenant is in arrears for Fixed Annual Rent or any item of Additional Rent, Tenant waives its right, if any, to designate
the items against which payments made by Tenant are to be credited and Landlord may apply any payments made by Tenant to any items which Landlord in its sole discretion may elect irrespective of any designation by Tenant as to the items against
which any such payment should be credited. 

  
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 5.03 Tenant shall not seek to remove and/or consolidate any summary proceeding brought by
Landlord with any action commenced by Tenant in connection with this Lease or Tenant’s use and/or occupancy of the Premises. 
 5.04 In
the event of a default by Landlord hereunder, no property or assets of Landlord, or any principals, shareholders, officers, directors, partners or members of Landlord, whether disclosed or undisclosed, other than the Building in which the Premises
are located and the land upon which the Building is situated (and the rents and sale, insurance and condemnation proceeds therefrom), shall be subject to levy, execution or other enforcement procedure for the satisfaction of Tenant’s remedies
under or with respect to this Lease, the relationship of Landlord and Tenant hereunder or Tenant’s use and occupancy of the Premises. 

ARTICLE 6 

RELETTING, ETC. 

6.01 If Landlord shall re-enter the Premises following the default of Tenant after notice and the
expiration of any applicable cure periods, by summary proceedings or other lawful means: (a) Landlord may re-let the Premises or any part thereof, as Tenant’s agent, in the name of Landlord, or
otherwise, for a term shorter or longer than the balance of the term of this Lease, and may grant concessions or free rent; (b) Tenant shall pay Landlord any deficiency between the rent hereby reserved and the net amount of any rents collected
by Landlord for the remaining term of this Lease, through such re-letting. Such deficiency shall become due and payable monthly, as it is determined. Landlord shall have no obligation to re-let the Premises, and its failure or refusal to do so, or failure to collect rent on re-letting, shall not affect Tenant’s liability hereunder. In computing the net
amount of rents collected through such re-letting, Landlord may deduct all expenses incurred in obtaining possession or re-letting the Premises, including legal expenses
and fees, brokerage fees, the cost of restoring the Premises to good order, and the cost of all alterations and decorations deemed necessary by Landlord to effect re-letting. In no event shall Tenant be
entitled to a credit or repayment for rerental income which exceeds the sums payable by Tenant hereunder or which covers a period after the original term of this Lease; (c) Tenant hereby expressly waives any right of redemption granted by any
present or future law. “Re-enter” and “re-entry” as used in this Lease are not restricted to their technical legal meaning. In the event of a breach
or threatened breach of any of the covenants or provisions hereof, Landlord shall have the right of injunctive relief. Mention herein of any particular remedy shall not preclude Landlord from any other available remedy; (d) Landlord shall
recover as liquidated damages, in addition to accrued rent and other charges, if Landlord’s reentry is the result of Tenant’s bankruptcy, insolvency, or reorganization, the full rental for the maximum period allowed by any act relating to
bankruptcy, insolvency or reorganization. 
 6.02 If Landlord re-enters the Premises as provided for
in Section 6.01, above, or after the expiration of the Term, any property left in the Premises by Tenant shall be deemed to have been abandoned by Tenant, and Landlord shall have the right to retain or dispose of such property in any manner
without any obligation to account therefor to Tenant. If Tenant shall at any time default hereunder, and if Landlord shall institute an action or summary proceeding against Tenant based upon such default, then Tenant will reimburse Landlord, as
Additional Rent, for the legal expenses and fees thereby incurred by Landlord, provided, however, Tenant shall have no such obligation to reimburse Landlord should Tenant prevail on the merits by means of a final,
non-appealable order or judgment in any such action or proceeding. In the event that Tenant commences a plenary action against Landlord alleging a default by Landlord under this Lease, and should Tenant
prevail on the merits by means of a final, non-appealable order or judgment in any such action, Landlord shall reimburse Tenant for its reasonable legal fees by way of credit against the monthly installments
of Fixed Annual Rent next accruing under this Lease, and/or to the extent that insufficient monthly installments remain in order to satisfy such obligation, then by payment to Tenant for any such portion which cannot be satisfied by means of the
foregoing credit. 

  
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 ARTICLE 7 

LANDLORD MAY CURE DEFAULTS 

7.01 If Tenant shall default in performing any covenant or condition of this Lease after notice and the expiration of any applicable cure
periods, Landlord may perform the same for the account of Tenant, and if Landlord, in connection therewith, or in connection with any default by Tenant, makes any expenditures or incurs any obligations for the payment of money, including but not
limited to reasonable attorney’s fees, such sums so paid or obligations incurred shall be deemed to be Additional Rent hereunder, and shall be paid by Tenant to Landlord within five (5) days of rendition of any bill or statement therefor,
and if Tenant’s lease term shall have expired at the time of the making of such expenditures or incurring of such obligations, such sums shall be recoverable by Landlord as damages. 

ARTICLE 8 

ALTERATIONS 
 8.01
A. Tenant shall make no decoration, alteration, addition or improvement in the Premises, without the prior written consent of Landlord, and then only by contractors or mechanics and in such manner and time, and with such materials, as approved by
Landlord, which approval shall not be unreasonably withheld. All alterations, additions or improvements to the Premises, including air-conditioning equipment and duct work, except movable office furniture and
trade equipment installed at the expense of Tenant, shall, unless Landlord elects otherwise in writing with respect to a Specialty Alteration (as defined below), become the property of Landlord, and shall be surrendered with the Premises, at the
expiration or sooner termination of the term of this Lease. Any such alterations, additions and improvements which Landlord shall designate shall be removed by Tenant and any damage repaired, at Tenant’s expense, prior to the expiration of this
Lease. 
 B. Notwithstanding anything contained in this Lease to the contrary, Tenant shall not be obligated to remove any Alterations
(hereinafter defined) hereinafter performed in or to the Premises except for Specialty Alterations. For purposes of this Subsection 8.01(B), “Specialty Alterations” shall mean Alterations consisting of kitchens, executive bathrooms,
raised computer floors, raised floors in server rooms, vaults, affixed shelving systems in libraries, filing systems, internal staircases, dumbwaiters, pneumatic tubes, vertical and horizontal transportation systems, any Alterations which are
structural in nature or penetrate any floor slab, and other Alterations of a similar character which are not customary for general office use in non-institutional office buildings in midtown Manhattan.
Landlord shall advise Tenant whether an Alteration is a Specialty Alteration at the time that consent to such Specialty Alteration is given by Landlord, provided that Tenant includes, as part of its request for such consent, a statement (in capital
letters, twelve (12) point font, boldface type) specifically referencing this subsection and advising Landlord that Landlord is required to make such designation as part of any such consent given by Landlord hereunder. Tenant shall, at
Tenant’s cost and expense, remove any Specialty Alteration designated by Landlord, repair any damage to the Premises or the Building due to such removal, cap all electrical, plumbing and waste disposal lines in accordance with sound
construction practice and restore the Premises to the condition existing prior to the making of such Specialty Alteration, reasonable wear and tear and damage from casualty excepted. All such work shall be performed in accordance with plans and
specifications first approved by Landlord, such approval not to be unreasonably withheld or delayed, and all applicable terms, covenants, and conditions of this Lease. If the Landlord’s insurance premiums increase as a result of any Specialty
Alterations, Tenant shall pay each such increase each year as Additional Rent within thirty (30) days after receipt of a bill therefore from Landlord. 

  
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 8.02 Anything hereinabove to the contrary notwithstanding, Landlord will not unreasonably
withhold or delay approval of written requests of Tenant to make nonstructural interior alterations, additions and improvements (herein referred to as “Alterations”) in the Premises, provided that such Alterations do not affect
utility services or plumbing and electrical lines or other systems of the Building outside of the Premises and do not affect and are not visible from any portion of the Building outside of the Premises. Notwithstanding anything contained to the
contrary herein, Landlord’s approval shall not be required in order for Tenant to perform purely decorative Alterations to the Premises provided that such Alterations do not affect utility services or plumbing and electrical lines or other
systems of the Building and do not affect and are not visible from any portion of the Building outside of the Premises and that such Alterations comply with all applicable provisions of this Lease. All Alterations shall be performed in accordance
with the following conditions: 
 (i) Prior to the commencement of any Alterations costing more than $25,000.00 (other than purely decorative
nonstructural interior Alterations as described above) or for which a permit is required by any governmental or quasi-governmental agency or authority having jurisdiction, Tenant shall first submit to Landlord for its approval detailed dimensioned
coordinated plans and specifications, including layout, architectural, mechanical, electrical, plumbing and structural drawings (collectively, “Tenant’s Plans”) for each proposed Alteration. Landlord shall be given, in writing,
a good description of all other Alterations. In connection with those initial alterations which Tenant intends to perform to the Premises in order to prepare the Premises for Tenant’s initial occupancy thereof under this Lease
(“Tenant’s Initial Alteration Work”), (a) Landlord hereby approves of Ted Moudis Associates as Tenant’s architect, Structure Tone, Inc. as Tenant’s general contractor, and those subcontractors set forth on the
schedule annexed hereto and made a part hereof as Exhibit C, (b) Landlord’s time in which to review and approve or disapprove of Tenant’s Plans shall be deemed to commence no earlier than the Commencement Date, notwithstanding any
delivery to Landlord of Tenant’s Plans prior thereto. In connection with Landlord’s review of Tenant’s Plans for any Alterations, Landlord shall notify Tenant within fifteen (15) days of its receipt thereof (or within five
(5) days of Landlord’s receipt of any resubmission thereof) that Landlord either: (i) approves Tenant’s Plans, or (ii) disapproves Tenant’s Plans (stating the reasons therefor with reasonable specificity). If, as and
when Landlord shall approve Tenant’s Plans the same shall become final and three (3) copies thereof shall be signed by Landlord and Tenant, two (2) sets to be retained by Landlord and one (1) set to be retained by Tenant. In the
event that Landlord shall fail to timely reply to any submission or resubmission by Tenant above, Tenant may submit a second (2nd) written request therefor together with all of the information and
documentation required by this Article, which second (2nd) request shall expressly refer to this Article and the consequences of Landlord’s failure to respond within five (5) days
thereafter, stating in bold, 12 point font, all uppercase letters on the first page thereof: “LANDLORD’S CONSENT OR APPROVAL TO/OF THE PROPOSED ALTERATIONS OUTLINED IN THIS SECOND (2nd) NOTICE SHALL BE DEEMED GIVEN IF LANDLORD FAILS TO ACCEPT OR REJECT WITH SPECIFICITY TENANT’S REQUEST FOR LANDLORD’S CONSENT OR APPROVAL TO/OF SAID ALTERATIONS
WITHIN FIVE (5) DAYS AFTER THIS NOTICE SHALL BE DEEMED TO HAVE BEEN GIVEN TO LANDLORD”, and provided further that Landlord continues to fail to timely consent or approve or reject with specificity
Tenant’s request as set forth above within said five (5) day period, then Landlord shall be deemed to have consented to and approved of Tenant’s Work, subject to the provisions of this Article. So long as Tenant is utilizing
Landlord’s building department consultant, Tenant shall be permitted to avail itself of the self-certification procedures of the New York City Department of Buildings then obtaining in connection with Tenant’s Initial Alteration Work. 

 

  
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 (ii) All Alterations in and to the Premises shall be performed in a good and workmanlike
manner and in accordance with the Building’s rules and regulations governing Tenant Alterations. Prior to the commencement of any such Alterations, Tenant shall, at its sole cost and expense, obtain and exhibit to Landlord any governmental
permit required in connection with such Alterations. In order to compensate Landlord for its general conditions and the costs incurred by Landlord in connection with Tenant’s performance of Alterations in and/or to the Premises (including,
without limitation, the costs incurred by Landlord in connection with the coordination of Alterations which may affect systems or services of the Building or portions of the Building outside of the Premises), Tenant shall pay to Landlord a fee equal
to five (5%) percent of the cost of such Alterations; provided, however that such fee shall not be payable by Tenant with regard to (i) Tenant’s Initial Alteration Work or with regard to (ii) purely decorative non-structural interior Alterations, in either of which events, Tenant shall instead reimburse Landlord for any out of pocket costs incurred by Landlord to independent third parties in connection with
Landlord’s consent to, and Tenant’s performance of, such Alterations. Such fee or such reimbursement, as the case may be, shall be paid by Tenant as Additional Rent hereunder within thirty (30) days following receipt of an invoice
therefor. In connection with any Alterations to which Landlord has consented, Landlord shall reasonably cooperate with Tenant’s efforts to obtain permits, certificates or approvals from governmental or quasi-governmental agencies or authorities
having jurisdiction (including, without limitation, executing and delivering any reasonable documents or instruments that require the signature of Landlord and which are reasonably required by Tenant in connection therewith, provided there is no
cost to Landlord). 
 (iii) All Alterations shall be done in compliance with all other applicable provisions of this Lease and with all
applicable laws, ordinances, directions, rules and regulations of governmental authorities having jurisdiction, including, without limitation, the Americans with Disabilities Act of 1990 and New York City Local Law No. 57/87 and similar present
or future laws, and regulations issued pursuant thereto, and also New York City Local Law No. 76 and similar present or future laws, and regulations issued pursuant thereto, on abatement, storage, transportation and disposal of asbestos and
other hazardous materials, which work, if required, shall be effected at Tenant’s sole cost and expense, by contractors and consultants approved by Landlord and in strict compliance with the aforesaid rules and regulations and with
Landlord’s rules and regulations thereon. 

  
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 (iv) All work shall be performed with union labor having the proper jurisdictional
qualifications. 
 (v) Tenant shall keep the Building and the Premises free and clear of all liens for any work or material claimed to have
been furnished to Tenant or to the Premises. 
 (vi) Prior to the commencement of any work by or for Tenant, Tenant shall furnish to Landlord
certificates evidencing the existence of the following insurance: 
 (a) Workmen’s compensation insurance covering all persons employed
for such work and with respect to whom death or bodily injury claims could be asserted against Landlord, Tenant or the Premises. 
 (b)
Broad form general liability insurance written on an occurrence basis naming Tenant as an insured and naming Landlord and its designees as additional insureds, with limits of not less than $3,000,000 combined single limit for personal injury in any
one occurrence, and with limits of not less than $500,000 for property damage (the foregoing limits may be revised from time to time by Landlord to such higher limits as Landlord from time to time reasonably requires, consistent with Landlord’s
requirements of other similarly situated tenants with similar permitted uses within the Building). Tenant, at its sole cost and expense, shall cause all such insurance to be maintained at all time when the work to be performed for or by Tenant is in
progress. All such insurance shall be obtained from a company authorized to do business in New York and shall provide that it cannot be canceled without thirty (30) days prior written notice to Landlord. All polices, or certificates therefor,
issued by the insurer and bearing notations evidencing the payment of premiums, shall be delivered to Landlord. Blanket and/or umbrella coverage shall be acceptable, provided that coverage meeting the requirements of this paragraph is assigned to
Tenant’s location at the Premises. 
 (vii) In granting its consent to any Alterations costing in excess of $100,000.00 (other than
Tenant’s Initial Alteration Work), Landlord may impose such conditions as to guarantee of completion (including, without limitation, requiring Tenant to post additional security or a bond to insure the completion of such Alterations, payment,
restoration or otherwise), as Landlord may reasonably require. 
 (viii) All work to be performed by Tenant shall be done in a manner which
will not interfere with or disturb other tenants and occupants of the Building. 
 (ix) The review and/or approval by Landlord, its agents,
consultants and/or contractors, of any Alteration or of plans and specifications therefor and the coordination of such Alteration work with the Building, as described in part above, are solely for the benefit of Landlord, and neither Landlord nor
any of its agents, consultants or contractors shall have any duty toward Tenant; nor shall Landlord or any of its agents, consultants and/or contractors be deemed to have made any representation or warranty to Tenant, or have any liability, with
respect to the safety, adequacy, correctness, efficiency or compliance with laws of any plans and specifications, Alterations or any other matter relating thereto. 

  
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 (x) Promptly following the substantial completion of any Alterations for which plans and
specifications were required under Section 8.02(i), above, Tenant shall submit to Landlord: (a) one (1) floppy disk (using a current version of Autocad or such other similar software as is then commonly in use) of final, “as-built” plans for the Premises showing all such Alterations and demonstrating that such Alterations were performed substantially in accordance with plans and specifications first approved by Landlord
and (b) an itemization of Tenant’s total construction costs, reasonably detailed by contractor, subcontractors, vendors and materialmen; lien waivers and releases from all contractors, subcontractors, vendors and materialmen;
architects’ and Tenant’s certification of completion, payment and acceptance, and all governmental approvals and confirmations of completion for such Alterations. If, solely as a result of the existence of any violation of law affecting
the Premises, the Building or the land upon which the Building is situated for which Landlord is responsible, or for which Tenant is not responsible, pursuant to this Lease (a “Violation”): (i) Tenant is unable to obtain or is
delayed in obtaining a building permit or any certificate, approval or sign-off from any governmental or quasi-governmental agency or authority which is required (a) in connection with the performance of
Tenant’s Initial Alteration Work, or (b) in connection with Tenant’s use and occupancy of the Premises for the uses permitted hereunder, and such delay continues for one (1) business day after notice from Tenant to Landlord; and
(ii) Tenant shall actually be delayed in (a) substantially completing Tenant’s Initial Alteration Work, or (b) using and occupying the Premises for the uses permitted hereunder, solely as a result of such inability or delay; then
in addition to any other credits or abatements of Fixed Annual Rent to which Tenant may be otherwise entitled elsewhere in this Lease, Tenant shall be entitled to receive a credit against the payment of Fixed Annual Rent (the “Violation
Delay Rent Credit”) in an amount which is equal to one (1) day of Fixed Annual Rent for each day during which Tenant has been actually delayed (a) in the substantial completion of Tenant’s Initial Alteration Work, or
(b) in using and occupying the Premises for the uses permitted hereunder, solely due to the existence of such Violation; provided, however, that notwithstanding anything contained herein to the contrary, Tenant shall not be entitled to receive
such Violation Delay Rent Credit unless: (a) Tenant promptly notifies Landlord of its inability or delay in obtaining such building permit, certificate, approval or sign-off in accordance with the terms
hereof; (b) Tenant has cooperated with Landlord, at no cost to Tenant, in clearing such Violation by promptly performing all such acts and executing all such applications, affidavits or other documents as shall be reasonably requested by
Landlord in order to alleviate such inability or delay; and (c) such inability or delay does not arise out of or in connection with the acts or omissions of Tenant, its agents, representatives, servants, employees or invitees, or a default by
Tenant under this Lease, or by reason of strikes, lockouts, job actions, shortage or unavailability of supplies, governmental laws or regulations or preemptions, riots, terrorism, insurrections, emergencies, wars, acts of war or Acts of God. 

  
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 ARTICLE 9 

LIENS 
 9.01 Prior
to commencement of its work in the Premises, Tenant shall obtain and deliver to Landlord a written letter of authorization, in form satisfactory to Landlord’s counsel, signed by all architects, engineers and designers to become involved in such
work, which shall confirm that any of their drawings or plans are to be removed from any filing with governmental authorities on request of Landlord, in the event that said architect, engineer or designer thereafter no longer is providing services
with respect to the Premises. With respect to contractors, subcontractors, materialmen and laborers, and architects, engineers and designers, for all work or materials to be furnished to Tenant at the Premises, Tenant agrees to obtain and deliver to
Landlord written and unconditional waiver of mechanics liens upon the Premises or the Building after payments to the contractors, etc., subject to any then applicable provisions of the Lien Law. Notwithstanding the foregoing, Tenant at its expense
shall cause any lien filed against the Premises or the Building, for work or materials claimed to have been furnished to Tenant, to be discharged of record within twenty (20) days after notice thereof. 

ARTICLE 10 
 REPAIRS

 10.01 Tenant shall take good care of the Premises and the fixtures and appurtenances therein, and shall make all repairs
necessary to keep them in good working order and condition, including structural repairs when those are necessitated by the negligence or willful misconduct of Tenant or its agents, employees, invitees or contractors, subject to the provisions of
Articles 11 and 43 hereof. During the term of this Lease, Tenant may have the use of any air-conditioning equipment servicing the Premises, subject to the provisions of Article 35 of this Lease, and shall
reimburse Landlord, in accordance with Article 41 of this Lease, for electricity consumed by the equipment. The exterior walls and roofs of the Building, the mechanical rooms serving the Building (other than those exclusively serving the Premises
and located within the Premises), service closets (other than those exclusively serving the Premises and located within the Premises), shafts, areas above any hung ceiling and the windows and the portions of all window sills outside same are not
part of the Premises demised by this Lease, and Landlord hereby reserves all rights to such parts of the Building. Tenant shall not paint, alter, drill into or otherwise change the appearance of the windows including, without limitation, the sills,
jambs, frames, sashes, and meeting rails. 
 10.02 Landlord shall maintain the structural portions and common areas of the Building and those
portions of Building-wide systems not located within the Premises, in good order and condition and in compliance with all applicable laws, codes, rules and regulations of governmental and quasi-governmental agencies and authorities having
jurisdiction. 

  
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 10.03 In the event that solely as a result of (i) Landlord’s failure to
(a) furnish any service or (b) perform any repair which is required to be furnished or performed, as the case may be, by the express provisions of this Lease, or (ii) Landlord’s entry into the Premises to perform work (other than
by reason of a Tenant default under this Lease) in a manner which materially interferes with the permitted use of the Premises, and in any of the foregoing events Tenant and all those claiming through Tenant shall be not able to use and shall have
discontinued use and occupancy of all or any affected portion of the Premises for a period of five (5) consecutive business days or more after notice thereof to Landlord, during which time Landlord has failed to substantially: restore such
service, perform such repair or remediate such material interference (or, in the event that any of the same cannot be substantially accomplished within such five (5) consecutive business day period, then provided Landlord has not commenced and
continued to diligently prosecute same within and beyond said five (5) consecutive business day period until completion), then Tenant shall be entitled to an abatement of the Fixed Annual Rent allocable to such portion of the Premises which is
not usable and is unoccupied for each day from and after the five (5) consecutive business day period until said service, repair or remediation, as the case may be, is substantially accomplished; provided further, however, that Tenant shall not
be entitled to such an abatement in the event that such failure or interference results from (i) any installation, alteration or improvement performed by Tenant which is not performed in a good workmanlike manner and in compliance with the
Lease and all applicable laws, codes, rules and regulations of governmental and quasi-governmental agencies and authorities having jurisdiction; (ii) a default by Tenant under the provisions of the Lease; (iii) the negligence, tortious
conduct or willful misconduct of Tenant, its agents, representatives, servants or employees; or (iv) strikes, lockouts, job actions, shortage or unavailability of supplies, governmental laws or regulations or preemptions, riots, terrorism,
insurrections, emergencies, wars, acts of war or Acts of God. 
 ARTICLE 11 

FIRE OR OTHER CASUALTY 

11.01 Damage by fire or other casualty to the Building and to the core and shell of the Premises (excluding the tenant improvements and
betterments and Tenant’s personal property) shall be repaired at the expense of Landlord (“Landlord’s Restoration Work”),. Landlord shall not be required to repair or restore any of Tenant’s property or any
alteration, installation or leasehold improvement made in and/or to the Premises. If, as a result of such damage to the Building or to the core and shell of the Premises, the Premises are rendered untenantable or inaccessible, the Rent shall abate
in proportion to the portion of the Premises not usable by Tenant from the date of such fire or other casualty until Landlord’s Restoration Work is substantially completed. Landlord shall not be liable to Tenant for any delay in performing
Landlord’s Restoration Work, Tenant’s sole remedy being the right to an abatement of Rent, as provided above. Tenant shall cooperate with Landlord in connection with the performance by Landlord of Landlord’s Restoration Work. If the
Premises are rendered wholly untenantable by fire or other casualty and if Landlord shall decide not to restore the Premises, or if the Building shall be so damaged that Landlord shall decide to demolish it or not to rebuild it (whether or not the
Premises have been damaged), Landlord may within ninety (90) days after such fire or other cause give written notice to Tenant of its election that the term of this Lease shall automatically expire no less than ten (10) days after such
notice is given, provided that Landlord shall also terminate leases covering more than fifty (50%) percent of the rentable square feet of office space in the Building. Notwithstanding the foregoing, each party shall look first to any insurance in
its favor before making any claim against the other party for recovery for loss or damage resulting from fire or other casualty, and to the extent permitted by law, Landlord and Tenant each hereby releases and waives all right of recovery against
the other or any one claiming through or under each of them by way of subrogation or otherwise. Tenant hereby expressly waives the provisions of Section 227 of the Real Property Law and agrees that the foregoing provisions of this Article shall
govern and control in lieu thereof. 

  
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 11.02 In the event that the Premises has been damaged or destroyed and this Lease has not
been terminated in accordance with the provisions of this Article, Tenant shall (i) cooperate with Landlord in the restoration of the Premises and shall remove from the Premises as promptly as reasonably possible all of Tenant’s
salvageable inventory, movable equipment, furniture and other property and (ii) repair the damage to the tenant improvements and betterments and Tenant’s personal property and restore the Premises with reasonable diligence promptly
following the date upon which the core and shell of the Premises shall have been substantially repaired by Landlord, and shall thereafter diligently prosecute same to completion. 

11.03 Notwithstanding anything contained herein to the contrary, in the event that all or substantially all, or a material portion of the
Premises are rendered untenantable or inaccessible due to fire or other casualty and Tenant cannot reasonably and does not use and occupy the entire Premises for the uses permitted hereunder as a result thereof, and provided that Landlord does not
elect to terminate this Lease in accordance with the provisions of this Article, then Landlord shall notify Tenant of Landlord’s good faith estimate of the period necessary for Landlord to restore the core and shell of the Premises. If the time
estimated by Landlord to substantially restore the core and shell of the Premises is greater than three hundred sixty five (365) days after the occurrence of such fire or casualty, Tenant shall have the option, within thirty (30) days of
the date such notice is given to Tenant, to elect by notice to Landlord to terminate this Lease on a date not less than ten (10) nor more than thirty (30) days after the date Tenant’s notice is given, time being of the essence.
Provided that Tenant has not timely and properly exercised its right to terminate this Lease as set forth above, in the event Landlord has not substantially restored the core and shell of the Premises within three hundred sixty-five (365) days
after such fire or casualty (subject to causes beyond Landlord’s reasonable control) then, and in such event, Tenant may elect to cancel this Lease upon giving written notice to Landlord within thirty (30) days after the end of such three
hundred sixty-five (365) day period and the Term shall expire on the date set forth therein, as if such date were the Expiration Date, which date shall be not less than thirty (30) days after the date such notice is given. 

11.04 Notwithstanding anything contained herein to the contrary, in the event that a material portion of the Premises is rendered wholly
untenantable or inaccessible due to fire or other casualty during the last twelve (12) months of the Term, and Tenant cannot and does not use or occupy such material portion of the Premises as a result thereof, and provided that Landlord does
not elect to terminate this Lease in accordance with the provisions of this Article, then Tenant may elect to cancel this Lease upon written notice to Landlord within thirty (30) days after such fire or other casualty, and the term of this
Lease shall expire on the date set forth therein which shall be not less than ten (10) or greater than thirty (30) days after the date such notice is given, provided that Tenant surrenders to Landlord possession of the Premises on or
before the such date in the condition required by this Lease as if such date were the Expiration Date, in which event Tenant shall remain liable for any and all obligations under this Lease through the date of such fire or other casualty and the
representations, covenants and warranties of Articles 20 (Indemnification) and 40 (Brokers) of this Lease shall survive any such cancellation, as well as any other provisions of this Lease which, by their terms, survive cancellation. 

  
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 ARTICLE 12 

END OF TERM 
 12.01
Tenant shall surrender the Premises to Landlord at the expiration or sooner termination of this Lease in good order and condition, except for reasonable wear and tear and damage by fire or other casualty, and Tenant shall remove all of its property.
Tenant agrees it shall indemnify and save Landlord harmless against all costs, claims, loss or liability resulting from delay by Tenant in so surrendering the Premises, including, without limitation, any claims made by any succeeding tenant founded
on such delay. The parties recognize and agree that the damage to Landlord resulting from any failure by Tenant timely to surrender the Premises will be substantial, will exceed the amount of monthly Rent theretofore payable hereunder, and will be
impossible of accurate measurement. Tenant therefore agrees that if possession of the Premises is not surrendered to Landlord within one (1) day after the date of the expiration or sooner termination of the Term of this Lease, then Tenant will
pay Landlord as liquidated damages for each month and for each portion of any month during which Tenant holds over in the Premises after expiration or termination of the Term of this Lease, a sum equal to (i) one and one-half (1 1⁄2) times the average Rent which was payable per month under this Lease during the last six months of the Term, for
the period from the Expiration Date through the thirtieth (30) day thereafter, and (ii) two (2) times the average Rent which was payable per month under this Lease during the last six months of the Term, for the period from the
thirty-first (31st) day after the Expiration Date through the date upon which possession of the Premises is surrendered by Tenant in accordance with the provisions of this Lease, and in each case,
Tenant shall pay Additional Rent as is otherwise due and owing pursuant to this Lease. The aforesaid obligations shall survive the expiration or sooner termination of the Term of this Lease. At any time during the Term of this Lease, Landlord may
exhibit the Premises to prospective purchasers or mortgagees of Landlord’s interest therein. During the last year of the term of this Lease, Landlord may exhibit the Premises to prospective tenants. Notwithstanding anything to the contrary
contained in this Lease, in the event Tenant holds over in the Premises after the Expiration Date or sooner termination of the Term, but vacates and surrenders the Premises on or prior to the thirtieth (30*) day after the Expiration Date but
otherwise in accordance with the terms, covenants and conditions of this Lease, then Tenant shall not be liable for consequential damages in connection with such holding over. 

ARTICLE 13 

SUBORDINATION AND ESTOPPEL, ETC. 

13.01 This Lease, and all rights of Tenant hereunder, are, and shall continue to be, subject and subordinate in all respects to: 

(1) all ground leases, overriding leases and underlying leases of the land and/or the building now or hereafter existing; 

(2) all mortgages that may now or hereafter affect the land, the Building and/or any of such leases, whether or not such
mortgages shall also cover other lands and/or buildings; 

  
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 (3) each and every advance made or hereafter to be made under such
mortgages; 
 (4) all renewals, modifications, replacements and extensions of such leases and such mortgages; and 

(5) all spreaders and consolidations of such mortgages. 

13.02 The provisions of Section 13.01 of this Article shall be self-operative, and no further instrument of subordination shall be
required. In confirmation of such subordination, Tenant shall execute and deliver any instrument that Landlord, the lessor of any such lease, the holder of any mortgage or any of its successors in interest shall reasonably request, in a form
reasonably satisfactory to Tenant, to evidence such subordination and, in the event that Tenant shall fail to execute and deliver any such instrument within twenty (20) days after request therefor, Tenant shall irrevocably constitute and
appoint Landlord as Tenant’s attorney-in-fact, coupled with an interest, to execute and deliver any such instrument for and on behalf of Tenant. The leases to which
this Lease is, at the time referred to, subject and subordinate pursuant to this Article 13 are herein sometimes called “superior leases”, the mortgages to which this Lease is, at the time referred to, subject and subordinate are herein
sometimes called “superior mortgages”, the lessor of a superior lease or its successor in interest at the time referred to is sometimes herein called a “lessor” and the mortgagee under a superior mortgage or its successor in
interest at the time referred to is sometimes herein called a “mortgagee”. 
 13.03 In the event of any act or omission of Landlord
that would give Tenant the right, immediately or after lapse of a period of time, to cancel or terminate this Lease, or to claim a partial or total eviction, Tenant shall not exercise such right until: 

(i) it has given written notice of such act or omission to the mortgagee of each superior mortgage and the lessor of such
superior lease whose name and address shall previously have been furnished to Tenant; and 
 (ii) a reasonable period for
remedying such act or omission shall have elapsed following the giving of such notice and following the time when such mortgagee or lessor shall have obtained possession of the Premises and become entitled under such superior mortgage or superior
lease, as the case may be, to remedy the same (which reasonable period shall in no event be less than the period to which Landlord would be entitled under this Lease or otherwise, after similar notice, to effect such remedy). Nothing contained
herein shall obligate such lessor or mortgagee to remedy such act or omission. 
 13.04 If the lessor of a superior lease or the mortgagee of
a superior mortgage shall succeed to the rights of Landlord under this Lease, whether through possession or foreclosure action or delivery of a new lease or deed, then, at the request of such party so succeeding to Landlord’s rights
(hereinafter sometimes called a “successor landlord”), and upon such successor landlord’s written agreement to accept Tenant’s attornment, Tenant shall attorn to and recognize such successor landlord as Tenant’s landlord
under this Lease, and shall promptly execute and deliver any instrument that such successor landlord may reasonably request to evidence such attornment. Upon such attornment this Lease shall continue in full force and effect as, or as if it were, a
direct lease between such successor landlord and Tenant upon all of the terms, conditions and covenants as are set forth in this Lease and shall be applicable after such attornment, except that such successor landlord shall not be subject to any
offset or liable for any previous act or omission of Landlord under this Lease. 

  
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 13.05 If, in connection with obtaining financing or refinancing for the Building, a banking,
insurance, or other lender shall request reasonable modifications to this Lease as a condition to such financing or refinancing, Tenant shall not unreasonably withhold, delay, or defer its consent thereto, provided that such modifications do not
increase the obligation (except to a de minimis extent), or decrease the rights, of Tenant hereunder. In no event shall a requested modification of this Lease requiring Tenant to the following be deemed to materially adversely affect the leasehold
interest hereby created: 
 (i) give notice of any default by Landlord under this Lease to such lender and/or permit the
curing of such defaults by such lender; and 
 (ii) obtain such lender’s consent for any modification of this Lease.

 13.06 This Lease may not be modified or amended so as to reduce the Rent, shorten the term, or otherwise materially affect the rights of
Landlord hereunder, or be canceled or surrendered, without the prior written consent in each instance of the ground lessors and of any mortgagees whose mortgages shall require such consent. Any such modification, agreement, cancellation or surrender
made without such prior written consent shall be null and void. 
 13.07 Tenant agrees that if this Lease terminates, expires or is canceled
for any reason or by any means whatsoever by reason of a default under a ground lease or mortgage, and the ground lessor or mortgagee so elects by written notice to Tenant, this Lease shall automatically be reinstated for the balance of the term
which would have remained but for such termination, expiration or cancellation, at the same rental, and upon the same agreements, covenants, conditions, restrictions and provisions herein contained, with the same rental, and upon the same
agreements, covenants, conditions, restrictions and provisions herein contained, with the same force and effect as if no such termination, expiration or cancellation had taken place. Tenant covenants to execute and deliver any instrument required to
confirm the validity of the foregoing. 
 13.08 From time to time, Tenant, on at least fifteen (15) days’ prior written request by
Landlord, shall deliver to Landlord a statement in writing certifying that this Lease is unmodified and in full force and effect (or if there shall have been modifications, that the same is in full force and effect as modified and stating the
modifications) and the dates to which the Rent and other charges have been paid and stating whether or not Landlord is in default in performance of any covenant, agreement or condition contained in this Lease and, if so, specifying each such
default. Tenant hereby irrevocably constitutes and appoints Landlord the attorney-in-fact of Tenant to execute, acknowledge and deliver any such statements or
certificates for and on behalf of Tenant in the event that Tenant fails to so execute any such statement or certificate. 

  
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 13.09 For purposes hereof: (i) existing ground leases and the mortgages are sometimes
hereinafter referred to individually as a “Senior Interest” and collectively as the “Senior Interests”, (ii) existing ground lessors, ground lessees and mortgagees are sometimes hereinafter referred to individually
as a “Senior Interest Holder” and collectively as the “Senior Interest Holders”, (iii) ground leases entered into after the date of this Lease are sometimes hereinafter referred to as “Future Ground
Leases” and the holders thereof are sometimes hereinafter referred to as “Future Senior Lessors”, and (iv) mortgages entered into after the date upon which this Lease is executed and delivered to Tenant are sometimes
hereinafter referred to as “Future Mortgages” and the holders thereof are sometimes hereinafter referred to as “Future Superior Mortgagees”. 

13.10 Notwithstanding anything to the contrary contained in the Lease, Landlord shall use reasonable and diligent efforts to obtain for the
benefit of and deliver to Tenant a subordination, non-disturbance and attornment agreement (an “SNDA Agreement”) with each of the Senior Interest Holders. Said SNDA Agreements will be in the
form then customarily used by each Senior Interest Holder and shall provide in substance that so long as Tenant is not in default under this Lease after notice and beyond any applicable grace period provided for herein, if any, such Senior Interest
Holder will not terminate this Lease or take any action to recover possession of the Premises, notwithstanding any termination of Landlord’s interest in the Building and the land upon which it is located. Under no circumstances shall the Senior
Interest Holders be bound by any credit for Fixed Rent or Additional which may have been paid by Tenant for more than the then-current month. Landlord shall have no liability to Tenant for its failure to obtain any such SNDA Agreement.
Landlord’s obligations hereunder shall not impose any obligation upon Landlord (i) to incur any cost or expense or (ii) to institute any legal or other proceeding in connection with obtaining such SNDA Agreement. Any fees or costs
imposed by the Senior Interest Holders or their attorneys in connection with obtaining such SNDA Agreements shall be paid by Tenant provided, however, that Landlord shall notify Tenant of the projected fees and costs prior to incurring the same.
Tenant agrees to execute and acknowledge all such SNDA Agreements and return same to Landlord within ten (10) days after Landlord’s written request therefor. In the event that Tenant fails to so execute any such SNDA Agreement and deliver
same to Landlord within said ten (10) days and continues to fail to do so within ten (10) days of a second written request by Landlord, then such failure shall constitute a waiver by Tenant of Landlord’s obligation hereunder to seek
to obtain an SNDA Agreement from such Superior Interest. 
 13.11 Notwithstanding anything to the contrary contained in the Lease, with
respect to any Future Superior Mortgagee or Future Superior Lessor (collectively, “Future Superior Interests”), Landlord shall use reasonable and diligent efforts to obtain for the benefit of Tenant an SNDA Agreement with each such Future
Superior Interest. Said SNDA Agreements will be in the form then customarily used by such Future Superior Interest, but shall provide in substance, among other things, that so long as Tenant is not in default under this Lease after notice and beyond
any applicable grace period provided for herein, if any, such Senior Interest Holder will not terminate this Lease or take any action to recover possession of the Premises, notwithstanding any termination of the Landlord’s interest in the
Building and the land upon which it is located. Under no circumstances shall the Future Superior Interests be subject to any offsets or defenses not expressly provided for in the Lease which Tenant may have against Landlord or bound by any credit
for Fixed Annual Rent or Additional Rent which may have been paid by Tenant to Landlord more than the then current month. Landlord shall have no liability to Tenant for its failure to obtain any such SNDA Agreement. Landlord’s agreement to use
reasonable and diligent efforts hereunder shall not impose any obligation upon Landlord (i) to incur any cost or expense or (ii) to institute any legal or other proceeding in connection with obtaining such SNDA Agreement. Any fees or costs
imposed by the Future Superior Interests or their attorneys in connection with obtaining such SNDA Agreements shall be paid by Tenant provided, however, that Landlord shall notify Tenant of the projected fees and costs prior to incurring the same.
Tenant agrees to execute and acknowledge all such SNDA Agreements and return same to Landlord within ten (10) days after Landlord’s written request therefor. Tenant hereby irrevocably appoints Landlord as its
attorney-in-fact for the limited and express purpose of executing and delivering all such SNDA Agreements on Tenant’s behalf in the event that Tenant fails to
execute and return all such SNDA Agreements to Landlord in the time as required above. In the event that Landlord shall be unable to obtain an SNDA Agreement from any Future Superior Interests after using reasonable efforts as described above, same
shall not constitute a default of the Lease by Landlord, however, in such event Tenant’s subordination of its interest in this Lease and the Premises to the ground lease or mortgage lien of such Future Superior Interests pursuant to the Lease
shall be of no force and effect, and Tenant’s interest in this Lease and the Premises shall be superior thereto. 

  
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 ARTICLE 14 

CONDEMNATION 

14.01 If the whole or any substantial part of the Premises shall be condemned by eminent domain or acquired by private purchase in lieu
thereof, for any public or quasi-public purpose, this Lease shall terminate on the date of the vesting of title through such proceeding or purchase, and Tenant shall have no claim against Landlord for the value of any unexpired portion of the Term
of this Lease, nor shall Tenant be entitled to any part of the condemnation award or private purchase price. If less than a substantial part of the Premises is condemned, this Lease shall not terminate, but Rent shall abate in proportion to the
portion of the Premises condemned. 
 ARTICLE 15 

REQUIREMENTS OF LAW 

15.01 Tenant at its expense shall comply with all laws, orders and regulations of any governmental authority having or asserting jurisdiction
over the Premises, which shall impose any violation, order or duty upon Landlord or Tenant with respect to the Premises or the use or occupancy thereof, including, without limitation, compliance in the Premises with all City, State and Federal laws,
rules and regulations on the disabled or handicapped, on fire safety and on hazardous materials. The foregoing shall not require Tenant to do structural work to the Building. 

15.02 Tenant shall require every person engaged by him to clean any window in the Premises from the outside, to use the equipment and safety
devices required by Section 202 of the Labor Law and the rules of any governmental authority having or asserting jurisdiction. 
 15.03
Tenant at its expense shall comply with all requirements of the New York Board of Fire Underwriters, or any other similar body affecting the Premises, and shall not use the Premises in a manner which shall increase the rate of fire insurance of
Landlord or of any other tenant, over that in effect prior to this Lease. If Tenant’s use of the Premises increases the fire insurance rate, Tenant shall reimburse Landlord for all such increased costs. That the Premises are being used for the
purpose set forth in Article 1 hereof shall not relieve Tenant from the foregoing duties, obligations and expenses. 

  
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 15.04 Notwithstanding anything contained herein to the contrary, Tenant may, at its sole
cost and expense, contest by appropriate legal proceedings conducted in good faith and with due diligence, the validity or applicability of any law, code, rule or regulation of any governmental or quasi-governmental authority or agency having
jurisdiction over the Building, the Premises, this Lease or Tenant, provided that: (i) Tenant shall secure Landlord, to Landlord’s reasonable satisfaction, against all damages, interest, penalties and expenses (including, without
limitation, reasonable attorneys’ fees and disbursements) by cash deposit or by surety bond in an amount and with a company reasonably satisfactory to Landlord; (ii) such proceeding is commenced with all reasonable promptness and
prosecuted in good faith with all reasonable diligence; (iii) Tenant shall keep Landlord regularly informed as to the status of such contest; (iv) such contest shall not subject Landlord to prosecution for a criminal offense, or constitute
a default under any lease or mortgage under which Landlord may be obligated; (v) such contest shall not prevent or delay Landlord from obtaining financing or alienating an interest in the Building or the Premises; (vi) such contest shall
not cause the Building or the Premises or any part thereof to be forfeited, liened, encumbered, condemned or vacated; (vii) such contest shall not prevent or delay Landlord or any other tenants or occupants of the Building from occupying the
Building for its permitted uses or from obtaining any certificates, permits, licenses or approvals in connection with its or their use and occupation of the Building or any portions thereof and (viii) Tenant hereby indemnifies and agrees to
defend and save Landlord harmless from and against any and all claims, liabilities, losses, damages, costs, expenses, fines, penalties arising from Tenant’s non-compliance and/or contest including,
without limitation, reasonable attorneys fees. 
 ARTICLE 16 

CERTIFICATE OF OCCUPANCY 

16.01 Tenant will at no time use or occupy the Premises in violation of the certificate of occupancy issued for the Building. The statement in
this Lease of the nature of the business to be conducted by Tenant shall not be deemed to constitute a representation or guaranty by Landlord that such use is lawful or permissible in the Premises under the certificate of occupancy for the Building.
Landlord agrees that it shall not amend the certificate of occupancy of the Building in a manner which would prohibit Tenant’s use or occupancy of the Premises for those uses expressly permitted by the terms of this Lease. 

ARTICLE 17 

POSSESSION 
 17.01
If Landlord shall be unable to give possession of the Premises on the Commencement Date because of the retention of possession of any occupant thereof, alteration or construction work, or for any other reason, Landlord shall not be subject to any
liability for such failure; provided, however that Tenant shall have such remedies as are provided for in Article 52, below. In such event, subject to the provisions of said Article 52, this Lease shall stay in full force and effect and the Term
shall be extended, as appropriate, in order that Tenant’s possession of the Premises shall be for the full Term contemplated in Article 2, above. However, the Rent hereunder shall not commence until the Premises are available for occupancy by
Tenant. If delay in possession is caused by Tenant, there shall be no rent abatement and the Rent shall commence on the date specified in this Lease. If permission is given to Tenant to occupy the Premises or other Premises prior to the date
specified as the commencement of the Term, such occupancy shall be deemed to be pursuant to the terms of this Lease, except that the parties shall separately agree as to the obligation of Tenant to pay Rent for such occupancy. The provisions of this
Article are intended to constitute an “express provision to the contrary” within the meaning of Section 223(a), New York Real Property Law. 

  
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 ARTICLE 18 

QUIET ENJOYMENT 

18.01 Landlord covenants that if Tenant pays the Rent and performs all of Tenant’s other obligations under this Lease, Tenant may
peaceably and quietly enjoy the Premises, subject to the terms, covenants and conditions of this Lease and to the ground leases, underlying leases and mortgages hereinbefore mentioned. 

ARTICLE 19 
 RIGHT OF
ENTRY 
 19.01 Tenant shall permit Landlord to erect, construct and maintain pipes, conduits and shafts in and through the Premises
provided that whenever possible same are concealed behind existing walls or above existing ceilings, and whenever not possible then same are run along existing perimeter walls or along existing ceilings, and whenever not possible then same are
enclosed in a first class manner which does not reduce the usable square footage of the Premises by more than a de minimis extent or unreasonably interfere with Tenant’s use of the Premises for those uses permitted under this Lease. Landlord or
its agents shall have the right to enter or pass through the Premises at all times, by master key and, in the event of an emergency, by reasonable force or otherwise, to examine the same, and to make such repairs, alterations or additions as it may
deem necessary or desirable to the Premises or the Building, and to take all material into and upon the Premises that may be required therefor. In the course of any such entry or passage, Landlord shall use reasonable efforts to minimize
interference with Tenant’s permitted use of the Premises provided that Tenant acknowledges that such entries or passages may be undertaken on normal business days during normal business hours, and Landlord shall promptly repair any damage to
the Premises caused by Landlord in the course of any such entry or passage or installation. Such entry and work shall not constitute an eviction of Tenant in whole or in part, shall not be grounds for any abatement of Rent, and shall impose no
liability on Landlord by reason of inconvenience or injury to Tenant’s business. Landlord shall have the right at any time, without the same constituting an actual or constructive eviction, and without incurring any liability to Tenant, to
change the arrangement and/or location of entrances or passageways, windows, corridors, elevators, stairs, toilets, or other public parts of the Building, and to change the designation of rooms and suites and the name or number by which the Building
is known. 

  
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 ARTICLE 20 

INDEMNITY 
 20.01
Subject to the provisions of Articles 11 and 45 of this Lease, and except to the extent caused by the negligence or willful misconduct of Landlord, its employees, agents or contractors, Tenant shall indemnify, defend and save Landlord harmless from
and against any liability or expense arising from the use or occupation of the Premises by Tenant, or anyone on the Premises with Tenant’s permission, or from any breach of this Lease, provided, however, that this indemnity shall not apply to
consequential, punitive or special damages, except as otherwise specifically provided in Article 12 of this Lease. 
 ARTICLE 21 

LANDLORD’S LIABILITY, ETC. 

21.01 This Lease and the obligations of Tenant hereunder shall not in any way be affected because Landlord is unable to fulfill any of its
obligations or to supply any service, by reason of strike or other cause not within Landlord’s control. Landlord shall have the right, without incurring any liability to Tenant, to stop any service because of accident or emergency, or for
repairs, alterations or improvements, necessary or desirable in the judgment of Landlord, until such repairs, alterations or improvements shall have been completed. Landlord shall not be liable to Tenant or anyone else, for any loss or damage to
person, property or business; nor shall Landlord be liable for any non-structural latent defect in the Premises. Neither the partners, entities or individuals comprising the Landlord, nor the agents,
directors, or officers or employees of any of the foregoing shall be liable for the performance of the Landlord’s obligations hereunder. Neither the partners, entities or individuals comprising the Tenant, nor the agents, directors, or officers
or employees of any of the foregoing shall be liable for the performance of the Tenant’s obligations hereunder. Tenant agrees to look solely to Landlord’s estate and interest in the land and Building, or the lease of the Building or of the
land and Building, and the Premises and the rents and sale, insurance and condemnation proceeds therefrom, for the satisfaction of any right or remedy of Tenant for the collection of a judgment (or other judicial process) requiring the payment of
money by Landlord, and in the event of any liability by Landlord, no other property or assets of Landlord or of any of the aforementioned parties shall be subject to levy, execution or other enforcement procedure for the satisfaction of
Tenant’s remedies under or with respect to this Lease, the relationship of Landlord and Tenant hereunder, or Tenant’s use and occupancy of the Premises or any other liability of Landlord to Tenant. 

ARTICLE 22 

CONDITION OF PREMISES 

22.01 A. Except as may be otherwise provided for by express provisions located elsewhere in this Lease (i) the parties acknowledge that
Tenant has inspected the Premises and the Building and is fully familiar with the physical condition thereof and Tenant agrees to accept the Premises at the commencement of the Term in its then “as is” condition; and (ii) Tenant
acknowledges and agrees that Landlord shall have no obligation to do any work in or to the Premises in order to make it suitable and ready for occupancy and use by Tenant. 

  
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 B. Landlord represents that as of the Commencement Date, the sprinkler system serving the
Premises shall be in working order. 
 C. The Premises are currently served by five (5) points of connection to the Building
Class E Life and Safety System, which Landlord agrees Tenant shall continue to have use of during the Term. 
 ARTICLE 23 

CLEANING 
 23.01
Landlord shall cause the Premises to be kept clean in accordance with Landlord’s customary standards for the Building as set forth on the specifications annexed hereto and made a part hereof as Exhibit D, provided they are kept in order by
Tenant. Landlord, its cleaning contractor and their employees shall have after-hours access to the Premises and the use of Tenant’s light, power and water in the Premises as may be reasonably required for the purpose of cleaning the Premises.
Landlord may remove Tenant’s extraordinary refuse from the Building and Tenant shall pay the cost thereof. 
 23.02 Tenant acknowledges
that Landlord has designated a cleaning contractor for the Building. Tenant agrees to employ said cleaning contractor or such other contractor as Landlord shall from time to time designate (the “Building Cleaning Contractor”) to
perform all cleaning services required under the Lease to be performed by Tenant within the Premises and for any other waxing, polishing, and other cleaning and maintenance work of the Premises and Tenant’s furniture, fixtures and equipment
(collectively, “Tenant Cleaning Services”) provided that the prices charged by said contractor are comparable to the prices customarily charged by other reputable cleaning contractors employing union labor in midtown Manhattan for
the same level and quality of service. Tenant acknowledges that it has been advised that the cleaning contractor for the Building may be a division or affiliate of Landlord. Tenant agrees that it shall not employ any other cleaning and maintenance
contractor, nor any individual, firm or organization for such purpose, without Landlord’s prior written consent; provided, however, that Tenant my use its employees for such purposes. In the event that Landlord and Tenant cannot agree on
whether the prices then being charged by the Building Cleaning Contractor for such cleaning services are comparable to those charged by other reputable contractors as herein provided, then Landlord and Tenant shall each obtain two (2) bona fide
bids for such services from reputable cleaning contractors performing such services in comparable buildings in midtown Manhattan employing union labor, and the average of the four bids thus obtained shall be the standard of comparison. In the event
that the Building Cleaning Contractor does not agree to perform such cleaning services for Tenant at such average price, Landlord shall not unreasonably withhold its consent to the performance of Tenant Cleaning Services by a reputable cleaning
contractor designated by Tenant employing union labor with the proper jurisdictional qualifications; provided, however, that, without limitation, Landlord’s experience with such contractor or any criminal proceedings pending or previously filed
against such contractor may form a basis upon which Landlord may withhold or withdraw its consent. 

  
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 ARTICLE 24 

JURY WAIVER 
 24.01
Landlord and Tenant hereby waive trial by jury in any action, proceeding or counterclaim involving any matter whatsoever arising out of or in any way connected with this Lease, the relationship of Landlord and Tenant, Tenant’s use or occupancy
of the Premises or involving the right to any statutory relief or remedy. Tenant will not interpose any counterclaim of any nature in any summary proceeding commenced by or on behalf of Landlord. 

ARTICLE 25 
 NO
WAIVER, ETC. 
 25.01 No act or omission of Landlord or its agents shall constitute an actual or constructive eviction, unless
Landlord shall have first received written notice of Tenant’s claim and shall have had a reasonable opportunity to meet such claim. In the event that any payment herein provided for by Tenant to Landlord shall become overdue for a period in
excess of ten (10) days, then at Landlord’s option a “late charge” shall become due and payable to Landlord, as Additional Rent, from the date it was due until payment is made (provided, however, such late charge shall be waived
the first (1st) time any installment of Fixed Annual Rent and Additional Rent shall be overdue in any twelve (12) month period), at the following rates: for individual and partnership
lessees, said late charge shall be computed at the maximum legal rate of interest; for corporate or governmental entity lessees the late charge shall be computed at two percent per month unless there is an applicable maximum legal rate of interest
which then shall be used. No act or omission of Landlord or its agents shall constitute an acceptance of a surrender of the Premises, except a writing signed by Landlord. The delivery or acceptance of keys to Landlord or its agents shall not
constitute a termination of this Lease or a surrender of the Premises. Acceptance by Landlord of less than the Rent herein provided shall at Landlord’s option be deemed on account of earliest Rent remaining unpaid. No endorsement on any check,
or letter accompanying Rent, shall be deemed an accord and satisfaction, and such check may be cashed without prejudice to Landlord. No waiver of any provision of this Lease shall be effective, unless such waiver be in writing signed by the party to
be charged. In no event shall Tenant be entitled to make, nor shall Tenant make any claim, and Tenant hereby waives any claim for money damages (nor shall Tenant claim any money damages by way of set-off,
counterclaim or defense) based upon any claim or assertion by Tenant that Landlord had unreasonably withheld, delayed or conditioned its consent or approval to any request by Tenant made under a provision of this Lease. Tenant’s sole remedy
shall be an action or proceeding to enforce any such provision, or for specific performance or declaratory judgment (in which event, the applicable provisions of Section 6.02, above, shall apply regarding Tenant’s attorneys’ fees in
connection with such action or proceeding). Tenant shall comply with the rules and regulations contained in this Lease, and any reasonable modifications thereof or additions thereto. Landlord shall enforce such rules and regulations in a uniform and
non-discriminatory manner throughout the Building. Landlord shall not be liable to Tenant for the violation of such rules and regulations by any other tenant. Failure of Landlord to enforce any provision of
this Lease, or any rule or regulation, shall not be construed as the waiver of any subsequent violation of a provision of this Lease, or any rule or regulation. The payment of Rent by Tenant at any time when Landlord is in default of this Lease
shall in no event be deemed a waiver by Tenant of any such default by Landlord. Any inconsistency between such rules and regulations and this Lease shall be resolved in favor of this Lease. This Lease shall not be affected by nor shall Landlord in
any way be liable for the closing, darkening or bricking up of windows in the Premises, for any reason, including as the result of construction on any property of which the Premises are not a part or by Landlord’s own acts. 

  
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 ARTICLE 26 

OCCUPANCY AND USE BY TENANT 

26.01 If this Lease is terminated because of Tenant’s default hereunder, then, in addition to Landlord’s rights of re-entry, restoration, preparation for and rerental, and anything elsewhere in this Lease to the contrary notwithstanding, all Fixed Annual Rent and Additional Rent reserved in this Lease from the date of such
breach to the expiration date of this Lease shall become immediately due and payable to Landlord, and Landlord shall be entitled to judgment on and collection of a single payment to Landlord in a sum equal to the amount by which the total of all
Fixed Annual Rent and Additional Rent reserved for the remainder of the Term exceeds the then fair and reasonable rental value of the Premises for the same period as of the date of such breach, subject to future credit or repayment to Tenant in the
event of any rerenting of the Premises by Landlord, after first deducting from rerental income all expenses incurred by Landlord in reducing to judgment or otherwise collecting Tenant’s aforesaid obligation, and in obtaining possession of,
restoring, preparing for and re-letting the Premises. In no event shall Tenant be entitled to a credit or repayment for rerental income which exceeds the sums payable by Tenant hereunder or which covers a
period after the original Term of this Lease. 
 ARTICLE 27 

NOTICES 
 27.01 Any
bill, notice or demand from Landlord to Tenant, may be delivered personally at the Premises or sent by registered or certified mail or by any nationally recognized overnight delivery service and addressed to Tenant at the Premises or at the address
first set forth herein, to the attention of the “General Counsel.”, with a copy sent simultaneously and in like manner to: Loeb & Loeb LLP, 345 Park Avenue, New York, New York 10154, Attention: Scott Schneider, Esq. Such bill,
notice or demand shall be deemed to have been given at the time of delivery, mailing or receipt by such delivery service. Any notice, request or demand from Tenant to Landlord must be sent by registered or certified mail to the last address
designated in writing by Landlord. 
 ARTICLE 28 

WATER 
 28.01
During the Term, subject to causes beyond its reasonable control, Landlord shall make available to Tenant water for Tenant’s ordinary lavatory, drinking, cleaning and pantry use at the Premises, provided, however, Landlord makes no
representation, covenant or warranty that said water is potable. Tenant shall pay the amount of Landlord’s cost for all excessive water used by Tenant for any purpose other than such ordinary lavatory, drinking, cleaning and pantry uses, and
any sewer rent or tax based thereon. If Tenant uses excessive quantities of water or uses water for additional uses, Landlord may install a water meter to measure Tenant’s water consumption for all purposes and Tenant agrees to pay for the
installation and maintenance thereof and for water consumed as shown on said meter at Landlord’s cost therefor plus five (5%) percent. If water is made available to Tenant in the Building or the Premises through a meter which also supplies
other Premises, or without a meter, then Tenant shall pay to Landlord a reasonable charge per month for water. Provided that reasonably adequate alternative sources and quantities of water are then available to the Premises from third parties,
Landlord reserves the right to discontinue water service to the Premises if either the quantity or character of such service is changed or is no longer available or suitable for Tenant’s requirements or for any other reason without releasing
Tenant from any liability under this Lease and without Landlord or Landlord’s agent incurring any liability for any damage or loss sustained by Tenant by such discontinuance of service. 

  
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 ARTICLE 29 

SPRINKLER SYSTEM 

29.01 If there shall be a “sprinkler system” in the Premises for any period during this Lease, and if such sprinkler system is
damaged by any act or omission of Tenant or its agents, employees, licensees or visitors, Tenant shall restore the system to good working condition at its own expense. If the New York Board of Fire Underwriters, the New York Fire Insurance Exchange,
the Insurance Services Office, or any governmental authority requires the installation of, or any alteration to a sprinkler system by reason of Tenant’s particular manner of occupancy or use of the Premises, including any alteration necessary
to obtain the full allowance for a sprinkler system in the fire insurance rate of Landlord, or for any other reason, Tenant shall make such installation or alteration promptly, and at its own expense. 

ARTICLE 30 
 HEAT,
ELEVATOR, ETC. 
 30.01 A. Landlord shall provide adequate passenger elevator service consistent with that provided in other first
class midtown office buildings of a similar size, age and character during all usual business hours, except on Sundays, State holidays, Federal holidays, or Building Service Employees Union Contract holidays; and at all times Landlord shall have
available at least one (1) elevator car for service to the floor of the Building on which the Premises are located. Landlord shall furnish adequate heat for normal office use to the Premises consistent with that provided in other first class
midtown office buildings of a similar size, age and character during Monday through Friday from 8:00 a.m. to 6:00 p.m., except on Sundays, State holidays, Federal holidays, or Building Service Employees Union Contract holidays. If the elevators in
the Building are manually operated, Landlord may convert to automatic elevators at any time, without in any way affecting Tenant’s obligations hereunder. Subject to the freight policies of the Building, Tenant shall have access to the Building
freight elevators free of charge on a first-come/first-served basis during normal Building freight hours, and after normal Building freight hours subject to the freight charges of the Building. 

  
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 B. Tenant may use one (1) freight elevator car free of charge on an “after
hours” basis solely in connection with (i) its initial, single phase move into the Premises and (ii) Tenant’s Initial Alteration Work, provided that (a) such use does not exceed twenty-five (25) hours in the aggregate;
and (b) Tenant reserves said freight elevator car upon at least twenty-four (24) hours notice. 
 ARTICLE 31 

SECURITY DEPOSIT 

31.01 Tenant has deposited with Landlord the sum of $361,732.00 as security (the “Security”) for the performance by Tenant of
the terms of this Lease. Landlord may use any part of the Security to satisfy any default of Tenant after notice and the expiration of any applicable cure periods, and any expenses arising from such default, including but not limited to legal fees
and any damages or rent deficiency before or after re-entry by Landlord. Tenant shall, upon demand, deposit with Landlord the full amount so used, and/or any amount not so deposited by Tenant, in order that
Landlord shall have the full Security deposit on hand at all times during the term of this Lease. If Tenant shall comply fully with the terms of this Lease, the Security shall be returned to Tenant after the date fixed as the end of the Lease. In
the event of a sale or lease of the Building containing the Premises, Landlord shall transfer or credit the Security to the purchaser or tenant, and Landlord shall thereupon be released from all liability for the return of the Security. This
provision shall apply to every transfer, credit or assignment of the Security to a new Landlord. Tenant shall have no legal power to assign or encumber the Security herein described. 

31.02 Upon at least thirty (30) days notice to Landlord given at any time after the third
(3rd) anniversary of the Rent Commencement Date, Tenant may reduce the amount of the Security by the sum of $51,676.00, so that the amount of the Security held by Landlord from and after the
effective date of such notice through the Expiration Date shall be $310,056.00, provided and on condition that Tenant shall not be, or have been in, default in any of its monetary or material non-monetary
obligations under this Lease after notice and beyond the expiration of any applicable cure period at any time during the Term through the effective date of such notice. 

ARTICLE 32 
 TAX
ESCALATION 
 32.01 Tenant shall pay to Landlord, as Additional Rent, tax escalation in accordance with this Article: 

(a) For purposes of this Lease, Landlord and Tenant acknowledge and agree that the rentable square foot area of the Premises shall be deemed to
be 12,919 square feet. 
 (b) For the purpose of this Article, the following definitions shall apply: 

(i) The term “Tenant’s Share”, for purposes of computing tax escalation, shall mean two and ninety-five hundredths
percent (2.95%). Tenant’s Share has been computed on the basis of a fraction, the numerator of which is the rentable square foot area of the Premises and the denominator of which is the total rentable square foot area of the office and
commercial space in the Building Project. The parties acknowledge and agree that the total rentable square foot area of the office and commercial space in the Building Project shall be deemed to be 439,546 sq. ft. 

  
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 (ii) The term the “Building Project” shall mean the aggregate combined
parcel of land on a portion of which are the improvements of which the Premises form a part, with all the improvements thereon, said improvements being a part of the block and lot for tax purposes which are applicable to the aforesaid land. 

(iii) The “Base Tax Year” shall mean the New York City fiscal tax year commencing on July 1, 2009 through June 30,
2010. 
 (iv) The term “Comparative Year” shall mean the twelve (12) month period following the Base Tax Year, and each
subsequent period of twelve (12) month thereafter. 
 (v) The term “Real Estate Taxes” shall mean the total of all
taxes and special or other assessments levied, assessed or imposed at any time by any governmental authority upon or against the Building Project including, without limitation, any tax or assessment levied, assessed or imposed at any time by any
governmental authority in connection with the receipt of income or rents from said Building Project to the extent that same shall be in lieu of all or a portion of any of the aforesaid taxes or assessments, or additions or increases thereof, upon or
against said Building Project. Real Estate Taxes shall not include any income, franchise, transfer, inheritance, capital stock or other similar tax imposed on Landlord or any penalties or interest imposed upon Landlord as a result of a failure by
Landlord to timely and fully pay Real Estate Taxes. Notwithstanding the foregoing, if due to a future change in the method of taxation or in the taxing authority, or for any other reason, a franchise, income, transit, profit or other tax or
governmental imposition, however designated, shall be levied against Landlord in substitution in whole or in part for the Real Estate Taxes, or in lieu of additions to or increases of said Real Estate Taxes, then such franchise, income, transit,
profit or other tax or governmental imposition shall be deemed to be included within the definition of “Real Estate Taxes” for the purposes hereof. If any assessment may be paid in installments, then for purposes of this Article such
assessment shall be deemed to be payable over the maximum number of installments allowable, and only those installments allocable to and paid by Landlord during a Comparative Year shall be included in Real Estate Taxes for such Comparative Year.
Landlord represents that the Real Estate Taxes for the Base Tax Year do not reflect the participation of the Building in any program of tax abatements or incentives. 

(vi) INTENTIONALLY DELETED. 

32.02 In the event that the Real Estate Taxes payable for any Comparative Year shall exceed the amount of the Real Estate Taxes payable during
the Base Tax Year, Tenant shall pay to Landlord, as Additional Rent for such Comparative Year, an amount equal to Tenant’s Share of the excess. Before or after the start of each Comparative Year, Landlord shall furnish to Tenant a statement of
the Real Estate Taxes payable during the Comparative Year. If the Real Estate Taxes payable for such Comparative Year exceed the Real Estate Taxes payable during the Base Tax Year, Additional Rent for such Comparative Year, in an amount equal to
Tenant’s Share of the excess, shall be due from Tenant to Landlord, and such Additional Rent shall be payable by Tenant to Landlord within thirty (30) days after receipt of the aforesaid statement. The benefit of any discount for any early
payment or prepayment of Real Estate Taxes shall accrue solely to the benefit of Landlord, and such discount shall not be subtracted from the Real Estate Taxes payable for any Comparative Year. In addition to the foregoing, Tenant shall pay to
Landlord, on demand, as Additional Rent, a sum equal to Tenant’s Share of any business improvement district assessment payable by the Building Project. 

  
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 32.03 Should the Real Estate Taxes payable during the Base Tax Year be reduced by final
determination of legal proceedings, settlement or otherwise, then, the Real Estate Taxes payable during the Base Tax Year shall be correspondingly revised, the Additional Rent theretofore paid or payable hereunder for all Comparative Years shall be
recomputed on the basis of such reduction, and Tenant shall pay to Landlord as Additional Rent, within ten (10) days after being billed therefor, any deficiency between the amount of such Additional Rent as theretofore computed and the amount
thereof due as the result of such recomputations. 
 32.04 If, after Tenant shall have made a payment of Additional Rent under
Section 32.02, Landlord shall receive a refund of any portion of the Real Estate Taxes payable for any Comparative Year after the Base Tax Year on which such payment of Additional Rent shall have been based, as a result of a reduction of such
Real Estate Taxes by final determination of legal proceedings, settlement or otherwise, Landlord shall within thirty (30) days after receiving the refund pay to Tenant Tenant’s Share of the refund less Tenant’s Share of expenses
(including attorneys’ and appraisers’ fees) incurred by Landlord in connection with any such application or proceeding. In addition to the foregoing, Tenant shall pay to Landlord, as Additional Rent, within thirty (30) days after
Landlord shall have delivered to Tenant a statement therefor, Tenant’s Share of all expenses incurred by Landlord in reviewing or contesting the validity or amount of any Real Estate Taxes or for the purpose of obtaining reductions in the
assessed valuation of the Building Project prior to the billing of Real Estate Taxes, including without limitation, the fees and disbursements of attorneys, third party consultants, experts and others. 

32.05 The statements of the Real Estate Taxes to be furnished by Landlord as provided above shall be certified by Landlord and shall constitute
a final determination as between Landlord and Tenant of the Real Estate Taxes for the periods represented thereby, unless Tenant within one hundred fifty (150) days after they are furnished shall give a written notice to Landlord that it
disputes their accuracy or their appropriateness, which notice shall specify the particular respects in which the statement is inaccurate or inappropriate. If Tenant shall so dispute said statement then, pending the resolution of such dispute,
Tenant shall pay the Additional Rent to Landlord in accordance with the statement furnished by Landlord. Upon written request of Tenant, Landlord shall provide Tenant with a copy of the tax bill for the Building for a given Comparative Year. 

32.06 In no event shall the Fixed Annual Rent under this Lease be reduced by virtue of this Article. 

32.07 If the Commencement Date of the Term of this Lease is not the first day of the first Comparative Year, then the Additional Rent due
hereunder for such first Comparative Year shall be a proportionate share of said Additional Rent for the entire Comparative Year, said proportionate share to be based upon the length of time that the lease Term will be in existence during such first
Comparative Year. Upon the date of any expiration or termination of this Lease (except termination because of Tenant’s default) whether the same be the date hereinabove set forth for the expiration of the Term or any prior or subsequent date, a
proportionate share of said Additional Rent for the Comparative Year during which such expiration or termination occurs shall immediately become due and payable by Tenant to Landlord, if it was not theretofore already billed and paid. The said
proportionate share shall be based upon the length of time that this Lease shall have been in existence during such Comparative Year. Landlord shall promptly cause statements of said Additional Rent for that Comparative Year to be prepared and
furnished to Tenant. Landlord and Tenant shall thereupon make appropriate adjustments of amounts then owing. 

  
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 32.08 Landlord’s and Tenant’s obligations to make the adjustments referred to in
Section 32.07 above shall survive any expiration or termination of this Lease. Any delay or failure of Landlord in billing any tax escalation hereinabove provided shall not constitute a waiver of or in any way impair the continuing obligation
of Tenant to pay such tax escalation hereunder provided that Landlord bills Tenant for such tax escalation within two (2) years after the expiration of the particular Comparative Year at issue. 

ARTICLE 33 
 RENT
CONTROL 
 33.01 In the event the Fixed Annual Rent or Additional Rent or any part thereof provided to be paid by Tenant under the
provisions of this Lease during the Term shall become uncollectible or shall be reduced or required to be reduced or refunded by virtue of any Federal, State, County or City law, order or regulation, or by any direction of a public officer or body
pursuant to law, or the orders, rules, code or regulations of any organization or entity formed pursuant to law, whether such organization or entity be public or private (a “Legal Requirement”), then Tenant shall enter into such agreements
and take such other steps as Landlord may reasonably request to enable Landlord to collect the maximum rents which, are thereafter and from time to time lawful (but not in excess of the rentals then reserved under this Lease). Upon the termination
of such Legal Requirement, (a) Rent shall become and thereafter be payable in accordance with the amounts reserved herein for the periods following such termination and (b) Tenant promptly shall pay in full to Landlord, unless expressly
prohibited by law, an amount equal to (i) the Rents which would have been paid pursuant to this Lease but for such Legal Requirement less (ii) the Rents paid to Landlord during the period such Legal Requirement was in effect. 

ARTICLE 34 
 SUPPLIES

 34.01 Only Landlord or any one or more persons, firms, or corporations authorized in writing by Landlord shall be permitted to
furnish laundry, linens and towels to tenants and licensees in the Building, provided that any supplier or service company must be competitively priced and provide all services in a timely and professional manner. Landlord may fix, in its own
absolute discretion, from time to time, the hours during which and the regulations under which such supplies and services are to be furnished. Subject to the foregoing, Landlord expressly reserves the right to act as or to designate, from time to
time, an exclusive supplier of all or any one or more of the said supplies and services; and Landlord furthermore expressly reserves the right to exclude from the Building any person, firm or corporation attempting to furnish any of said supplies or
services but not so designated by Landlord. 

  
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 34.02 Landlord expressly reserves the right to exclude from the Building any person, firm or
corporation attempting to solicit within the Building or to deliver or purvey any food or beverages in the Building in a manner which is detrimental to or not in keeping with the character of the Building. It is understood, however, that Tenant or
its regular office employees may personally bring food or beverages into the Building for consumption within the Premises by the said employees, but not for resale or for consumption by any other tenant. 

ARTICLE 35 
 AIR
CONDITIONING 
 35.01 Landlord shall make available to Tenant, and Tenant shall be permitted to use, the base Building equipment
presently supplying air-conditioning service to the Premises and any replacements thereof (the “Existing HVAC Equipment”) Monday to Friday from 8:00 a.m. to 6:00 p.m. (i) during the
Building’s “Cooling Season” (which is currently May 15 through October 15) for those portions of the Existing HVAC Equipment serving the perimeter portions of the Premises, and (ii) three hundred sixty-five
(365) days a year for those portions of the Existing HVAC System serving the interior portions of the Premises, in each instance subject to and in accordance with the provisions of this Article. Landlord represents that as of the date hereof
the Existing HVAC Equipment is in working order and has a cooling capacity which is appropriate for normal office use and normal occupancy density, to wit: the Existing HVAC Equipment is designed to make available a capacity of one (1) ton of
HVAC per 300 usable square feet, and is designed to deliver a summer-winter temperature of between 72 and 78 degrees Fahrenheit. Landlord shall repair and maintain the Existing HVAC Equipment in good working order and condition, at Landlord’s
cost and expense; provided, however, that all other air conditioning systems, equipment and facilities hereafter located in or servicing the Premises (the “Supplemental Systems”) including, without limitation, the ducts, dampers,
registers, grilles and appurtenances utilized to distribute conditioned air within the Premises in connection with both the Existing HVAC Equipment and/or the Supplemental Systems (collectively hereinafter referred to as the “HVAC
System”), shall be maintained, repaired and operated by Tenant in compliance with all present and future laws and regulations relating thereto at Tenant’s sole cost and expense. The parties acknowledge that as of the date hereof there
is a two (2) ton water cooled supplemental air conditioning unit installed at the Premises (the “Existing Supplemental System”). Landlord hereby approves, in concept only, subject to Tenant’s compliance with the applicable
provisions of this Lease including, without limitation, the provisions of this Article and of Article 8, above, Tenant’s installation, at Tenant’s sole cost and expense, of an additional three (3) ton supplemental air conditioning
unit (or, should Tenant elect to remove the Existing Supplemental System, then Tenant’s installation of a five (5) ton supplemental air conditioning unit) to service the Premises (the “Additional Supplemental System”).
Tenant shall pay for all electricity consumed in the operation of the HVAC System (and/or water, gas and steam) for the production of chilled and/or condenser water and its supply to the Premises, if applicable, which shall become the obligation of
Tenant subject to the terms of Article 41 of this Lease. Tenant shall pay for all parts and supplies necessary for the proper operation of the HVAC System (other than the Existing HVAC Equipment) (and any restoration or replacement by Tenant of all
or any part thereof shall be in quality and class at least equal to the original work or installations); provided, however, that Tenant shall not alter, modify, remove or replace the HVAC System, or any part thereof, without Landlord’s prior
written consent, except that Tenant may remove the Existing Supplemental System in conjunction with Tenant’s installation of a five (5) ton replacement unit as contemplated hereinabove. 

  
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 35.02 Without limiting the generality of the foregoing, Tenant shall, at its own cost and
expense, (a) cause to be performed all maintenance of the HVAC System (other than the Existing HVAC Equipment), including all repairs and replacements thereto, and (b) commencing as of the date upon which Tenant shall first occupy the
Premises for the conduct of its business, and thereafter throughout the Term of the Lease, maintain in force and provide a copy of same to Landlord an air conditioning service repair and full service maintenance contract covering the HVAC System
(other than the Existing HVAC Equipment) in form reasonably satisfactory to Landlord with an air conditioning contractor or servicing organization approved by Landlord. All such contracts shall provide for the thorough overhauling of the HVAC System
(other than the Existing HVAC Equipment) at least once each year during the Term of this Lease and shall expressly state that (i) it shall be an automatically renewing contract terminable upon not less than thirty (30) days prior written
notice to Landlord (sent by certified mail, return receipt requested) and (ii) the contractor providing such service shall maintain a log at the Premises detailing the service provided to any Supplemental Systems during each visit pursuant to
such contract. Tenant shall keep such log at the Premises and permit Landlord to review same promptly after Landlord’s request. The HVAC System is and shall at all times remain the property of Landlord, and at the expiration or sooner
termination of the Lease, Tenant shall surrender to Landlord any Supplemental Systems in good working order and condition, subject to normal wear and tear and shall deliver to Landlord a copy of the service log. In the event that Tenant fails to
obtain the contract required herein or perform any of the maintenance or repairs required hereunder, Landlord shall have the right, but not the obligation, to procure such contract and/or perform any such work and charge Tenant as Additional Rent
hereunder the cost of same plus an administrative fee equal to five (5%) percent of such cost which shall be paid for by Tenant on demand. 

35.03 If and so long as Tenant is not in default of this Lease after notice and the expiration of any cure period contained herein then, upon
Tenant’s election, Landlord shall make available to Tenant up to ten (10) tons of condenser water for use by Tenant in the Premises in connection with the operation by Tenant of the Supplemental Systems (the “Condenser
Water”), provided that Tenant elects to have Landlord supply such Condenser Water by notice (“Tenant’s Condenser Water Notice”) given to Landlord as part and parcel of Tenant’s Initial Alteration Work as reflected
in Tenant’s plans and specifications therefor, as defined in Article 8, above, or no later than the second (2nd) anniversary of the Commencement Date, which Tenant’s Condenser Water
Notice shall set forth the tonnage of Condenser Water requested by Tenant. In the event that Tenant shall fail to provide Landlord with Tenant’s Condenser Water Notice in a timely manner or in the event that Tenant’s Condenser Water Notice
shall request, or Tenant shall use, less than the full ten (10) tons referred to above for more than twenty-four (24) consecutive months during the Term, then Tenant’s access to Condenser Water shall be limited to that lesser amount
so requested and used by Tenant, and Tenant’s access to any additional Condenser Water shall be subject to availability on a first-come/first-served basis. 

  
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 35.04 Tenant shall pay to Landlord as Additional Rent hereunder the following charges (plus
sales tax, if applicable) in consideration of Landlord’s agreement to make available to Tenant Condenser Water hereunder, commencing as of the date upon which Tenant gives Tenant’s Condenser Water Notice to Landlord, (i) an annual
charge of $900.00 per ton of Condenser Water (the “Annual Condenser Water Charge”) for the tonnage requested, subject to increase as provided for herein, and (ii) at such time, if ever, as Tenant installs the Additional
Supplemental System, a one-time “tap in” charge of $1,500.00. Except as otherwise provided for herein, all sums payable under this Article shall be deemed to be Additional Rent and shall be paid by
Tenant within twenty (20) days after demand. Commencing as of the first (lst) anniversary of the Rent Commencement Date and on each anniversary of the Rent Commencement Date thereafter during
the Term and any extensions or renewals thereof, the Annual Condenser Water Charge shall be increased to an amount equal to the product obtained by multiplying: (x) the Annual Condenser Water Charge; by (y) a fraction, the numerator of
which is the Consumer Price Index, All Items, New York and New Jersey, All Urban Consumers (the “CPI”) for the month before the month in which the Rent Commencement Date occurred of the subject year, and the denominator of which is
the CPI for the month and year in which the Rent Commencement Date occurred. 
 ARTICLE 36 

SHORING 
 36.01
Tenant shall permit any person authorized to make an excavation on land adjacent to the Building containing the Premises to do any work within the Premises necessary to preserve the wall of the Building from injury or damage, and Tenant shall have
no claim against Landlord for damages or abatement of rent by reason thereof. 
 ARTICLE 37 

EFFECT OF CONVEYANCE, ETC. 

37.01 If the Building containing the Premises shall be sold, transferred or leased, or the lease thereof transferred or sold, Landlord shall
be relieved of all obligations and liabilities hereunder accruing after the date of such transfer, and the purchaser, transferee or tenant of the Building shall be deemed to have assumed and agreed to perform all such obligations and liabilities of
Landlord hereunder. In the event of such sale, transfer or lease, Landlord shall also be relieved of all existing obligations and liabilities hereunder, provided that the purchaser, transferee or tenant of the Building assumes in writing such
obligations and liabilities. 
 ARTICLE 38 

RIGHTS OF SUCCESSORS AND ASSIGNS 

38.01 This Lease shall bind and inure to the benefit of the heirs, executors, administrators, successors, and, except as otherwise provided
herein, the assigns of the parties hereto. If any provision of any Article of this Lease or the application thereof to any person or circumstances shall, to any extent, be invalid or unenforceable, the remainder of that Article, or the application
of such provision to persons or circumstances other than those as to which it is held invalid or unenforceable, shall not be affected thereby, and each provision of said Article and of this Lease shall be valid and be enforced to the fullest extent
permitted by law. 

  
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 ARTICLE 39 

CAPTIONS 
 39.01
The captions herein are inserted only for convenience, and are in no way to be construed as a part of this Lease or as a limitation of the scope of any provision of this Lease. 

ARTICLE 40 
 BROKERS

 40.01 Tenant covenants, represents and warrants that Tenant has had no dealings or negotiations with any broker or agent in
connection with the consummation of this Lease other than SL Green Leasing LLC and Cushman & Wakefield, Inc. (collectively, the “Brokers”) and Tenant covenants and agrees to defend, hold harmless and indemnify Landlord from
and against any and all cost, expense (including reasonable attorneys’ fees) or liability for any compensation, commissions or charges claimed by any broker or agent (other than the Brokers) with respect to this Lease or the negotiation
thereof. 
 40.02 Landlord covenants, represents and warrants that Landlord has had no dealings or negotiations with any broker or agent in
connection with the consummation of this agreement other than the Brokers, and Landlord covenants and agrees to defend, hold harmless and indemnify Tenant from and against any and all cost, expense (including reasonable attorneys’ fees) or
liability for any compensation, commissions or charges claimed by any broker or agent, other than Brokers, with whom Landlord has dealt with respect to this Agreement or the negotiation thereof. Landlord agrees to pay any commissions due the Brokers
in connection with this Lease, pursuant to a separate agreement(s). 
 ARTICLE 41 

ELECTRICITY 
 41.01
Tenant acknowledges and agrees that electric service shall be purchased by Tenant directly from the public utility serving the Building and measured by a single electric meter which shall be Landlord’s responsibility to install, at
Landlord’s sole cost and expense, at or prior to the Commencement Date. Subject to causes beyond its reasonable control, Landlord agrees to make available to Tenant for use within the Premises an average demand load of six (6) watts of
electricity per rentable square foot for all purposes, exclusive of the Existing HVAC Equipment. Landlord shall not be liable to Tenant for any loss or damage or expense which Tenant may sustain or incur if either the quantity or character of
electric service is changed or is no longer available or suitable for Tenant’s requirements; provided, however, that Tenant shall have such remedies as are provided for in Section 10.03, above. Tenant covenants and agrees that at all times
its use of electric current shall never exceed the capacity of existing feeders to the Building or wiring installation, which Landlord represents are sufficient to deliver the average demand load of six (6) watts of electricity as referenced
above. Landlord reserves the right to terminate Tenant’s use of electric service in the event of emergency, if necessary in connection with the performance of any improvements, repairs or maintenance to the Building or if required by law, in
which event this Lease shall remain in full force and effect and Tenant shall have no claim against Landlord for damages, set-off or abatement. Tenant covenants and agrees that at all times its use of electric
service shall never exceed the capacity of existing Building facilities. 

  
 38 

 41.02 At the option of Landlord, Tenant agrees to purchase from Landlord or its agents all
lamps and bulbs used in the Premises and to pay for the cost of installation thereof, provided that all such lamps, bulbs and installation are competitively priced and that such services are furnished in timely and competent manner. Landlord shall
not be liable to Tenant for any loss or damage or expense which Tenant may sustain or incur if either the quantity or character of electric service is changed or is no longer available or suitable for Tenant’s requirements. Any riser or risers
to supply Tenant’s electrical requirements, upon written request of Tenant, will be installed by Landlord, at the sole cost and expense of Tenant, if, in Landlord’s sole judgment, the same are necessary and will not cause permanent damage
or injury to the Building or the Premises or cause or create a dangerous or hazardous condition or entail excessive or unreasonable alterations, repairs or expense or interfere with or disturb other tenants or occupants. In addition to the
installation of such riser or risers, Landlord will also at the sole cost and expense of Tenant, install all other equipment proper and necessary in connection therewith subject to the aforesaid terms and conditions. 

ARTICLE 42 
 LEASE
SUBMISSION 
 42.01 Landlord and Tenant agree that this Lease is submitted to Tenant on the understanding that it shall not be
considered an offer and shall not bind Landlord in any way unless and until (i) Tenant has duly executed and delivered duplicate originals thereof to Landlord and (ii) Landlord has executed and delivered one of said originals to Tenant.

 ARTICLE 43 

INSURANCE 
 43.01
Tenant shall not violate, or permit the violation of, any condition imposed by the standard fire insurance policy then issued for office buildings in the Borough of Manhattan, City of New York, and shall not do, or permit anything to be done, or
keep or permit anything to be kept in the Premises which would subject Landlord to any liability or responsibility for personal injury or death or property damage, or which would increase the fire or other casualty insurance rate on the Building or
the property therein over the rate which would otherwise then be in effect (unless Tenant pays the resulting premium as hereinafter provided for) or which would result in insurance companies of good standing refusing to insure the building or any of
such property in amounts reasonably satisfactory to Landlord. 

  
 39 

 43.02 Tenant covenants to provide on or before the Commencement Date and to keep in force,
at Tenant’s own cost, during the term hereof the following insurance coverage which coverage shall be effective from and after such Commencement Date: 

(a) A Commercial General Liability insurance policy naming Landlord and its designees as additional insureds protecting Landlord, its
designees against any alleged liability, occasioned by any incident involving injury or death to any person or damage to property of any person or entity, on or about the Building, the Premises, common areas or areas around the Building or premises.
Such insurance policy shall include Products and Completed Operations Liability and Contractual Liability covering the liability of the Tenant to the Landlord by virtue of the indemnification agreement in this Lease, covering bodily injury
liability, property damage liability, personal injury & advertising liability and fire legal liability, all in connection with the use and occupancy of or the condition of the Premises, the Building or the related common areas, in amounts
not less than: 
 $5,000,000, general aggregate per location 

$5,000,000, per occurrence for bodily injury & property damage 

$5,000,000, personal & advertising injury 

$1,000,000, fire legal liability 
 Such insurance
may be carried under a blanket or umbrella policy covering the Premises and other locations of Tenant, if any, provided such a policy contains an endorsement (i) naming Landlord and its designees as additional insureds, (ii) specifically
referencing the Premises; and (iii) guaranteeing a minimum limit available for the Premises equal to the limits of liability required under this Lease; 

(b) “All-risk” insurance, including flood (with limits of at least $100,000), earthquake
(with limits of at least $ 100,000) and terrorism coverage in an amount adequate to cover the cost of replacement of all fixtures, any non-moveable equipment, and all improvements, betterments and
installations located in the Premises, whether or not installed or paid for by the Landlord. 
 43.03 All such policies shall be issued by
companies of recognized responsibility permitted to do business within New York State and reasonably approved by the Landlord and rated by Best’s Insurance Reports or any successor publication of comparable standing and carrying a rating of A-VIII or better or the then equivalent of such rating, and all such policies shall contain a provision whereby the same cannot be canceled or modified unless Landlord and any additional insured are given at least
thirty (30) days prior written notice of such cancellation or modification. 
 43.04 Prior to the time such insurance is first required
to be carried by Tenant and thereafter, at least fifteen (15) days prior to the expiration of any such policies, Tenant shall deliver to Landlord either duplicate originals of the aforesaid policies or a 2003 Accord 28 certificates evidencing
such insurance (the 2006 Accord 28 being unacceptable to Landlord), together with evidence of payment for the policy. If Tenant delivers certificates as aforesaid Tenant, upon reasonable prior notice from Landlord, shall make available to Landlord,
at the Premises, duplicate originals of such policies from which Landlord may make copies thereof, at Landlord’s cost. Tenant’s failure to provide and keep in force the aforementioned insurance shall be regarded as a material default
hereunder, entitling Landlord to exercise any or all of the remedies as provided in this Lease in the event of Tenant’s default. In addition, in the event Tenant fails, after notice and the expiration of any applicable cure period, to provide
and keep in force the insurance required by this Lease, at the times and for the durations specified in this Lease, Landlord shall have the right, but not the obligation, at any time and from time to time, and without notice, to procure such
insurance and/or pay the premiums for such insurance in which event Tenant shall repay Landlord within five (5) days after demand by Landlord, as Additional Rent, all sums so paid by Landlord and any costs or expenses incurred by Landlord in
connection therewith without prejudice to any other rights and remedies of Landlord under this Lease. 

  
 40 

 43.05 Landlord and Tenant shall each secure an appropriate clause in, or an endorsement
upon, each “all-risk” insurance policy obtained by it and covering property as stated in 43.02 (b), pursuant to which the respective insurance companies waive subrogation against each other and any
other parties, if agreed to in writing prior to any damage or destruction. The waiver of subrogation or permission for waiver of any claim hereinbefore referred to shall extend to the agents of each party and its employees and, in the case of
Tenant, shall also extend to all other persons and entities occupying or using the Premises in accordance with the terms of this Lease. If and to the extent that such waiver or permission can be obtained only upon payment of an additional charge
then, except as provided in the following two paragraphs, the party benefiting from the waiver or permission shall pay such charge upon demand, or shall be deemed to have agreed that the party obtaining the insurance coverage in question shall be
free of any further obligations under the provisions hereof relating to such waiver or permission. 
 43.06 Notwithstanding anything to the
contrary contained in this Lease, and to the fullest extent permitted by law, each party hereby releases the other with respect to any claim (including a claim for negligence) which it might otherwise have against the other party for loss, damages
or destruction with respect to its property by fire or other casualty (including rental value or business interruption, as the case may be) occurring during the Term of this Lease. 

43.07 If, by reason of a failure of Tenant to comply with the provisions of this Lease, the rate of fire insurance with extended coverage on
the building or equipment or other property of Landlord shall be higher than it otherwise would be, Tenant shall reimburse Landlord, on demand, for that part of the premiums for fire insurance and extended coverage paid by Landlord because of such
failure on the part of Tenant. 
 43.08 Landlord may, from time to time, require that the amount of the insurance to be provided and
maintained by Tenant hereunder be increased so that the amount thereof adequately protects Landlord’s interest, but in no event in excess of the amount that would be reasonably required of other tenants renting similar space for similar uses in
other similar office buildings in the Borough of Manhattan. 
 43.09 A schedule or make up of rates for the building or the Premises, as the
case may be, issued by the New York Fire Insurance Rating Organization or other similar body making rates for fire insurance and extended coverage for the premises concerned, shall be conclusive evidence of the facts therein stated and of the
several items and charges in the fire insurance rate with extended coverage then applicable to such premises. 

  
 41 

 43.10 Each policy evidencing the insurance to be carried by Tenant under this Lease shall
contain a clause that such policy and the coverage evidenced thereby shall be primary with respect to any policies carried by Landlord, and that any coverage carried by Landlord shall be excess insurance. 

43.11 Landlord agrees that it shall maintain for the Building an “All-risk” policy of
insurance in an amount adequate to cover the cost of replacement of the Building. 
 ARTICLE 44 

SIGNAGE 
 44.01
Tenant shall be permitted to affix either a sign or a plaque on or adjacent to the entrance door to the Premises, subject to the prior written approval of Landlord with respect to location, design, size, materials, quality, coloring, lettering and
shape thereof, which approval shall not be unreasonably withheld provided that all of the foregoing comply with Building-wide standards, and subject, also, to compliance by Tenant, at its expense, with all applicable legal requirements or
regulations. All such signage shall be consistent and compatible with the design, aesthetics, signage and graphics program for the Building as established by Landlord. Landlord may remove any sign installed in violation of this provision, and Tenant
shall pay the cost of such removal and any restoration costs. 
 ARTICLE 45 

INTENTIONALLY DELETED 

ARTICLE 46 
 FUTURE
CONDOMINIUM CONVERSION 
 46.01 Tenant acknowledges that the Building and the land of which the Premises form a part may be
subjected to the condominium form of ownership prior to the end of the Term of this Lease. Tenant agrees that if, at any time during the Term, the Building and the land shall be subjected to the condominium form of ownership, then, this Lease and
all rights of Tenant hereunder are and shall be subject and subordinate in all respects to any condominium declaration and any other documents (collectively, the “Declaration”) which shall be recorded in order to convert the
Building and the land of which the Premises form a part to a condominium form of ownership in accordance with the provisions of Article 9-B of the Real Property Law of the State of New York or any successor
thereto, provided that in no event shall Tenant’s obligations be increased or Tenant’s rights diminished as a result thereof. If any such Declaration is to be recorded, Tenant, upon request of Landlord and at no out-of-pocket cost to Tenant, shall enter into an amendment of this Lease in such respects as shall be necessary to conform to such condominiumization, including, without
limitation, appropriate adjustments to Real Estate Taxes payable during the Base Tax Year and Tenant’s Share, as such terms are defined in Article 32 hereof. 

  
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 ARTICLE 47 

MISCELLANEOUS 

47.01 This Lease represents the entire understanding between the parties with regard to the matters addressed herein and may only be modified
by written agreement executed by all parties hereto. All prior understandings or representations between the parties hereto, oral or written, with regard to the matters addressed herein are hereby merged herein. Tenant acknowledges that neither
Landlord nor any representative or agent of Landlord has made any representation or warranty, express or implied, as to the physical condition, state of repair, layout, footage or use of the Premises or any matter or thing affecting or relating to
Premises except as specifically set forth in this Lease. Tenant has not been induced by and has not relied upon any statement, representation or agreement, whether express or implied, not specifically set forth in this Lease. Landlord shall not be
liable or bound in any manner by any oral or written statement, broker’s “set-up”, representation, agreement or information pertaining to the Premises, the Building or this Agreement furnished
by any real estate broker, agent, servant, employee or other person, unless specifically set forth herein, and no rights are or shall be acquired by Tenant by implication or otherwise unless expressly set forth herein. This Lease shall be construed
without regard to any presumption or other rule requiring construction against the party causing this agreement to be drafted. 
 ARTICLE
48 
 INTENTIONALLY DELETED 

ARTICLE 49 

OPERATING EXPENSE ESCALATION 

49.01 Tenant shall pay to Landlord, as Additional Rent, operating expense escalations in accordance with this Article. 

49.02 For the purposes of this Article, the following definitions shall apply: 

(i) The term “Base Year” as herein after set forth for the determination of operating expense escalation, shall mean the
calendar year 2010, and the term “Base Insurance Expenses” year shall mean the average of the Building Insurance Expenses (hereinafter defined) for the calendar years 2008, 2009 and 2010. 

(ii) The term the “Percentage”, for purposes of computing operating expense escalations hereunder, shall mean three and five
hundredths (3.05%) percent. The Percentage has been computed on the basis of a fraction, the numerator of which is the rentable square foot area of the presently demised premises and the denominator of which is the total rentable square foot area of
the office space in the Building. The parties acknowledge and agree that, for purposes of this Article only, the total rentable square foot area of the Premises presently demised to Tenant shall be deemed to be 12,919 square feet, and that the
rentable square foot area of the office space in the Building shall be deemed to be 425,739 square feet. 

  
 43 

 (iii) The term the “Building Project” for purposes of this Article shall
mean the aggregate combined parcel of land on a portion of which is the Building of which the Premises form a part, with all the improvements and appurtenances thereon, said improvements being a part of the block and lot for tax purposes which are
applicable to the aforesaid land. 
 (iv) The term “Comparative Year” for purposes of this Article shall mean the twelve
(12) months following the Base Year, and each subsequent period of twelve (12) months, and the term “Comparative Insurance Year” for purposes of this Article shall mean the twelve (12) month period commencing as of
January 1, 2011, and each subsequent period of twelve (12) months. 
 (v) The term “Building Insurance Expenses”
shall mean the total of all the costs and expenses incurred or borne by Landlord with respect to procuring and maintaining in respect of the Building Project: comprehensive all risk insurance on the Building Project and the personal property
contained therein or thereon; commercial general liability insurance against claims for personal injury, bodily injury, death or property damage, occurring upon, in or about the Building Project; extended coverage, boiler and machinery, sprinkler,
apparatus, rental, business income and plate glass insurance; owner’s contingent or protective liability insurance; workers’ compensation and employer’s liability insurance; insurance against acts of terrorism (including, without
limitation, bioterrorism), and any insurance required by a mortgagee; 
 (vi) The term “Expenses” shall mean the total of
all the costs and expenses incurred or borne by Landlord with respect to the operation and maintenance of the Building Project and the services provided tenants therein, including, but not limited to, the costs and expenses incurred for and with
respect to: steam and any other fuel; water rates and sewer rents; air-conditioning; mechanical ventilation; heating; cleaning, by contract or otherwise; window washing (interior and exterior); the operation
and maintenance of elevators, escalators; parking areas and facilities; porters and matron service; Building electric current*; protection and security; lobby decoration; repairs, replacements and improvements which are appropriate for the continued
operation of the Building as a first-class building; maintenance; management fees; painting of non-tenant areas; supplies; wages, salaries, disability benefits, pensions, hospitalization, retirement plans and
group insurance respecting employees of the Building up to and including the building manager; uniforms and working clothes for such employees and the cleaning thereof and expenses imposed pursuant to law or to any collective bargaining agreement
with respect to such employees; workmen’s compensation insurance, payroll, social security, unemployment and other similar taxes with respect to such employees; and association fees or dues. 

 

	* 	 i.e. Building electric current shall be deemed to mean all electricity purchased for the Building except that
which is redistributed to tenants in the Building or the rentable portions of the Building; the parties acknowledge and agree that forty-five percent (45%) of the Building’s payment to the public utility for the purchase of electricity shall be
deemed to be payment for Building electric current. 

  
 44 

 Provided, however, that the foregoing Expenses shall exclude or have deducted from them, as
the case may be and as shall be appropriate: 
 (a) leasing and brokerage commissions; 

(b) managing agents’ fees or commissions in excess of the rates then customarily charged by owner/operators for building management for
buildings of like class and character; 
 (c) salaries, fringe benefits and other compensation to personnel above the grade of building
manager; 
 (d) expenditures for capital improvements except those which under generally accepted accounting principles consistently applied
are expensed or regarded as deferred expenses and except for capital expenditures required by law, in either of which cases the cost thereof shall be included in Expenses for the Comparative Year in which the costs are incurred and subsequent
Comparative Years, amortized on a straight line basis over an appropriate period equal to its useful life as determined by generally accepted accounting principles consistently applied, but not more then ten years, with an interest factor equal to
the prime rate of the JP Morgan Chase, New York, (or the successor thereto) at the time of Landlord’s having incurred said expenditure; 

(e) amounts received by Landlord through proceeds of insurance to the extent the proceeds are compensation for expenses which were previously
included in Expenses hereunder; 
 (f) cost of repairs or replacements incurred by reason of fire or other casualty, or caused by the
exercise of the right of eminent domain; 
 (g) advertising and promotional expenditures and any other expense incurred in connection with
the marketing of space; 
 (h) legal fees and other professional fees incurred in disputes with tenants and legal, arbitration and auditing
fees, other than legal, arbitration and auditing fees reasonably incurred in connection with the maintenance and operation of the Building Project or in connection with the preparation of statements required pursuant to Additional Rent or lease
escalation provisions; and 
 (i) the incremental cost of furnishing services such as overtime HVAC to any tenant at such tenant’s
expense; costs incurred in performing work or furnishing services for individual tenants (including this Tenant) at such tenant’s expense; and costs of performing work or furnishing services for tenants other than this Tenant at Landlord’s
expense to the extent that such work or service is in excess of any work or service Landlord is obligated to furnish to this Tenant at Landlord’s expense; 

(j) Building Insurance Expenses; 

  
 45 

 (k) the cost of services provided to Tenant or any of the other tenants of the Building for
which Landlord is directly reimbursed or compensated, or has the right to be so reimbursed or compensated, by Tenant or any other tenant of the Building (except pursuant to provisions similar in intent to Section 49.02 hereof for the payment of
a share of the costs of operating the Building, which are not included in Fixed Annual Rent; 
 (l) depreciation of the Building, equipment
or other improvements; 
 (m) mortgage or other interest and/or debt service and/or financing and refinancing costs and ground rents or
other payments under superior leases; 
 (n) initial alteration work (including attendant utility fees) performed by or at the expense of
Landlord, for tenanted spaces; 
 (o) painting and decorating services supplied to some but not all tenants of the Building without charge;

 (p) Real Estate Taxes; 

(q) costs incurred with respect to the sale or purchase of all or a portion of the Building or any interest therein or in connection with the
sale or purchase of air or development rights; 
 (r) interest, fines, penalties or other late charges payable by Landlord; 

(s) the cost of removing, encapsulating or otherwise abating any asbestos or other hazardous materials in the Building, except with respect to
any materials which are determined to be hazardous alter the date of this Lease; 
 (t) franchise, income, transfer, gains, inheritance or
personal property taxes imposed upon Landlord; 
 (u) the cost of acquisition or installation of any sculpture, paintings or other objects
of fine art in excess of customary seasonal decorations: 
 (v) costs incurred to remedy violations of laws and/or requirements of public
authorities having jurisdiction and which exist as of the date of this Lease or which arise by reason of the failure of Landlord (or Landlord’s predecessor) to construct, maintain or operate the Building or any part thereof in compliance with
such laws and/or requirements (excluding the costs of permits and approvals to comply with such laws and/or requirements in the ordinary course of the operation of the Building); and 

(w) the costs of operating a garage or any other retail facility which is available to the general public and/or operated on a “for
profit” basis. 

  
 46 

 49.03 If Landlord shall purchase any item of capital equipment or make any capital
expenditure designed to result in savings or reductions in Expenses, then the costs for same shall be included in Expenses for the Comparative Year in which the costs are incurred and subsequent Comparative Years, on a straight line basis, for a
period equal to the useful life of such item as determined pursuant to generally accepted accounting principles consistently applied, but in no event in excess of the actual savings or reductions in Expenses resulting from such capital equipment or
capital expenditure, with an interest factor equal to the prime rate of JP Morgan Chase, New York, (or the successor thereto) at the time of Landlord’s having incurred said costs. If Landlord shall lease any such item of capital equipment
designed to result in savings or reductions in Expenses, then the rentals and other costs paid pursuant to such leasing shall be included in Expenses for the Comparative Year in which they were incurred, but in no event shall they be in excess of
what would be included if such items of capital equipment had been purchased. 
 49.04 If during all or part of the Base Year or any
Comparative Year, Landlord shall not furnish any particular item(s) of work or service (which would constitute an Expense hereunder) to portions of the Building Project due to the fact that such portions are not occupied or leased, or because such
item of work or service is not required or desired by the tenant of such portion, or such tenant is itself obtaining and providing such item of work or service, or for other reasons, then, for the purposes of computing the Additional Rent payable
hereunder, the amount of the Expenses for such item for such period shall be increased by an amount equal to the additional operating and maintenance expenses which would reasonably have been incurred during such period by Landlord if it had at its
own expense furnished such item of work or services to such portion of the Building Project. 
 49.05 If the Expenses for any Comparative
Year shall be greater than the Expenses for the Base Year, Tenant shall pay to Landlord, as Additional Rent for such Comparative Year, in the manner hereinafter provided, an amount equal to the Percentage of the excess of the Expenses for such
Comparative Year over the Expenses for the Base Year (such amount being hereinafter called the “Expense Payment”). If the Building Insurance Expenses for any Comparative Insurance Year shall be greater than the Base Insurance
Expenses, Tenant shall pay to Landlord, as Additional Rent for such Comparative Insurance Year, in the manner hereinafter provided, an amount equal to the Percentage of the excess of the Building Insurance Expenses for such Comparative Insurance
Year over the Base Insurance Expenses (such amount being hereinafter called the “Insurance Expense Payment”). 
 49.06
Following the expiration of each Comparative Year and Comparative Insurance Year and after receipt of necessary information and computations from Landlord’s certified public accountant, Landlord shall submit to Tenant a statement or statements,
as hereinafter described, setting forth the Expenses for the preceding Comparative Year, and the Expense Payment, if any, due to Landlord from Tenant for such Comparative Year, and a statement setting forth the Base Insurance Expenses and the
Insurance Expense Payment, if any, due to Landlord from Tenant for such Insurance Comparative Year. The rendition of any such statement to Tenant shall constitute prima facie proof of the accuracy thereof and, if such statement shows an Expense
Payment and/or Insurance Expense Payment due from Tenant to Landlord with respect to the preceding Comparative Year and/or Comparative Insurance Year, then (i) Tenant shall make payment of any unpaid portion thereof within twenty (20) days
after receipt of such statement; and (ii) Tenant shall also pay Landlord, as Additional Rent within twenty (20) days after receipt of such statement, an amount equal to the product obtained by multiplying the Expense Payment and/or
Insurance Expense Payment for the Comparative Year or the Comparative Insurance Year, as the case may be, by a fraction, the denominator of which shall be 12 and the numerator of which shall be the number of months of the current Comparative Year or
Comparative Insurance Year, as the case may be, which shall have elapsed prior to the first day of the month immediately following the rendition of such statement; and (iii) Tenant shall also pay to Landlord, as Additional Rent, commencing as
of the first day of the month immediately following the rendition of such statement and on the first day of each month thereafter until a new statement is rendered an amount equal to 1/12th of the total Expense Payment for the preceding Comparative
Year and/or 1/12th of the total Insurance Expense Payment for the preceding Comparative Insurance Year. The aforesaid monthly payments based on the total Expense Payment for the preceding Comparative Year or the total Insurance Expense Payment for
the preceding Comparative Insurance Year, as the case may be, shall from time to time be adjusted to reflect, if Landlord can reasonably so estimate, known increases in rates or cost, for the current Comparative Year or the current Comparative
Insurance Year, as the case may be, applicable to the categories involved in computing Expenses or Building Insurance Expenses, whenever such increases become known prior to or during such current Comparative Year or the current Comparative
Insurance Year, as the case may be. The payments required to be made under (ii) and (iii) above shall be credited toward the Expense Payment or the Insurance Expense payment due from Tenant for the then current Comparative Year or the current
Comparative Insurance Year, as the case may be, subject to adjustment as and when the statement for such current Comparative Year or the current Comparative Insurance Year is rendered by Landlord. 

  
 47 

 49.07 A. The statements of the Expenses and the Building Insurance Expenses to be furnished
by Landlord as provided above shall be certified by Landlord, and shall be prepared in reasonable detail and based on information and computations made for the Landlord by a Certified Public Accountant (who may be the CPA now or then employed by
Landlord for the audit of its accounts): said Certified Public Accountant may rely on Landlord’s allocations and estimates wherever operating cost allocations or estimates are needed for this Article. The statements thus furnished to Tenant
shall constitute a final determination as between Landlord and Tenant of the Expenses for the periods represented thereby, unless Tenant within one hundred fifty (150) days after they are furnished shall give notice to Landlord
(“Tenant’s OpEx Dispute Notice”) that it disputes their accuracy or their appropriateness, which notice shall specify the particular respects in which the statement is inaccurate or inappropriate, giving due consideration to
the information then available to Tenant. Pending the resolution of any such dispute, Tenant shall pay the Additional Rent to Landlord in accordance with the statements furnished by Landlord. 

B. Provided that: (i) Tenant’s Dispute Notice contains all of the elements required by subsection A, above, and is given by Tenant
in a timely fashion in accordance with the requirements of subsection A, above; and (ii) all Additional Rent is timely and fully paid by Tenant to Landlord in accordance with the statements furnished to Tenant under this Article; Landlord shall
grant an independent certified public accountant retained by Tenant reasonable access to so much of Landlord’s books and records as may be reasonably required (the “Records”) for the purposes of verifying the Operating Expenses
incurred for the Comparative Year subject to dispute and those incurred for the Base Year (hereinafter, an “Audit”) during normal business hours at the place where they are regularly maintained for a period of forty-five
(45) days from the date Tenant’s OpEx Dispute Notice is given by Tenant. Tenant and its independent certified public accountant shall execute a confidentiality agreement prepared by Landlord prior to the time access to the Records is
given. 

  
 48 

 C. In the event that Tenant, after having reasonable opportunity to examine the Records
(but in no event more than forty-five (45) days from the date on which the Records are last made available to Tenant), shall disagree with the Landlord’s Statement, then Tenant may send a written notice (“Tenant’s
Statement”) to Landlord of such disagreement, specifying in reasonable detail the basis for Tenant’s disagreement and the amount of the Operating Expense payment Tenant claims is due. Landlord and Tenant shall then attempt to adjust
such disagreement. If they are unable to do so within thirty (30) days after Landlord’s receipt of Tenant’s Statement, and provided that the amount Tenant claims is due is different by more than a de minimis amount from the amount
Landlord claims is due, Landlord and Tenant shall together designate an independent, third party certified public accountant (the “Arbiter”) whose determination made in accordance herewith shall be binding upon the parties; it being
understood that if the amount Tenant claims is due is not different by more than a de minimis amount from the amount Landlord claims is due, then Tenant shall have no right to further dispute or protest the Operating Expense payment then due
and shall immediately pay to Landlord the amount that Landlord claims is due to the extent not theretofore paid. If the determination of the Arbiter shall substantially confirm the determination of Landlord), then Tenant shall pay the cost of the
Arbiter. If the Arbiter shall substantially confirm the determination of Tenant, then Landlord shall pay the cost of the Arbiter. In all other events, the cost of the Arbiter shall be borne equally by Landlord and Tenant. The Arbiter shall be a
member of an independent certified public accounting firm having at least three (3) accounting professionals and having at least ten (10) years experience in real estate accounting for commercial office buildings in New York County and
shall not be regularly retained by either Landlord or Tenant. In the event that Landlord and Tenant shall be unable to agree upon the designation of the Arbiter within thirty (30) days after receipt of notice from the other party requesting
agreement as to the designation of the Arbiter (which notice shall contain the names and addresses of two or more such certified public accountants who are acceptable to the party sending such notice, any one of whom, if acceptable to the party
receiving such notice as shall be evidenced by notice given by the receiving party to the other party within such thirty (30) day period, shall be the agreed upon Arbiter), then either party shall have the right to request the American
Arbitration Association (the “AAA”) or any successor thereto to designate as the Arbiter in accordance with the foregoing required qualifications, whose determination made in accordance herewith shall be conclusive and binding upon
the parties, and the cost charged by the AAA or any successor thereto for designating such Arbiter shall be borne equally by Landlord and Tenant. Landlord and Tenant hereby agree that any determination made by an Arbiter designated pursuant to this
Article shall not exceed the amount(s) as determined to be due in the first instance by Landlord’s Statement, nor shall such determination be less than the amount(s) claimed to be due by Tenant’s Statement, and that any determination which
does not comply with the foregoing shall be null and void and shall not be binding on the parties. In rendering such determination such Arbiter shall not add to, subtract from or otherwise modify the provisions of the Lease, including the
immediately preceding sentence. Notwithstanding the foregoing provisions of this paragraph, pending the resolution of any contest pursuant to the terms hereof, Tenant shall continue to pay all sums as determined to be due in the first instance by
such Landlord’s Statement. In the event that the Audit reveals a difference in the amount each party claims is due, then Landlord shall credit any overpayment of Operating Expense escalations due under the Lease, as modified hereby, against the
next accruing installment(s) of Fixed Annual Rent under the Lease until such credit is exhausted or, to the extent that the remaining installment(s) are insufficient to satisfy such credit, Landlord will pay such portion of the overpayment to
Tenant. By way of clarification, at such time as Tenant contests, pursuant to and in accordance with the provisions of this Article, the determination of Expenses or Building Insurance Expenses for a given Comparative Year or Comparative Insurance
Year, as the case may be, Tenant may also simultaneously contest the determination of Expenses and/or Building Insurance Expenses for the Base Year; provided, however, that Tenant’s contest of Expenses and/or Building Insurance Expenses for the
Base Year may be undertaken on a one-time basis only, at the time of Tenant’s first contest of any Expenses and/or Building Insurance Expenses for any Comparative Year under this Section 49.07 and at
no time thereafter. 

  
 49 

 49.08 In no event shall the Fixed Annual Rent under this Lease be reduced by virtue of this
Article. 
 49.09 Landlord’s and Tenants obligation to make adjustments as provided for above in this Article shall survive any
expiration or termination of this Lease. 
 49.10 Any delay or failure of Landlord in billing any escalation hereinabove provided shall not
constitute a waiver of or in way impair the continuing obligation of Tenant to pay such escalation hereunder, provided that Landlord shall bill Tenant for such escalation within two (2) years after the expiration of the Comparative Year at
issue. 
 ARTICLE 50 

RENEWAL OPTION 

50.01 Provided that: (i) the tenant named on the first page of this Lease or a Successor Entity, as defined in Section 4.13, above
(collectively, “Named Tenant”) is not in default under this Lease on the Extension Notice Date (as defined below) and on the Extension Term Commencement Date (as defined below) after notice (in which event Named Tenant’s rights
under this Article shall be suspended until the earlier of (i) Named Tenant’s timely and full cure of the default alleged in such notice, at which time Named Tenant’s rights hereunder shall be reinstated, and (ii) the expiration
of Named Tenant’s time in which to cure such default, at which time Named Tenant’s rights hereunder shall be extinguished); and (ii) Named Tenant shall occupy no less than ninety (90%) percent of the Premises for the conduct of its
business on the Extension Notice Date and on the Expiration Date; then the Named Tenant shall have the one-time right (the “Extension Right”) to extend the Term with respect to the entire
Premises for one period of five (5) years (the “Extension Term”). The Extension Term shall commence on the day immediately following the Expiration Date (the “Extension Term Commencement Date”) and shall expire
on the day immediately preceding the fifth (5th) anniversary of the Extension Term Commencement Date (the “Extension Term Expiration Date”), unless the Extension Term shall sooner
end pursuant to any of the terms, covenants or conditions of this Lease or pursuant to law. The Extension Right may be exercised with respect to the entire Premises only and shall be exercisable by Named Tenant delivering to Landlord a notice (the
“Extension Notice”) no later than the date (the “Extension Notice Date”) that is three hundred sixty-five (365) days prior to the Expiration Date, as to which date time is of the essence, and upon the giving of
such notice, subject to the provisions set forth below in this Article, the Term shall be extended for the period of the Extension Term without execution or delivery of any other or further document, with the same force and effect as if the
Extension Term had originally been included in the Term. All of the terms, covenants and conditions of this Lease shall continue in full force and effect during the Extension Term, including items of Additional Rent and escalation which shall remain
payable on the terms herein set forth. In the event that the Named Tenant shall fail to give the Extension Notice to Landlord on or prior to the Extension Notice Date, the Named Tenant shall be deemed to have waived its Extension Right hereunder.
Landlord shall have the right, in its sole discretion, to waive any or all of the foregoing conditions to Tenant’s exercise of its Extension Right. Upon the giving of the Extension Notice, the Named Tenant shall have no further right or option
to extend or renew the Term. Tenant’s failure to timely exercise its Extension Right in compliance with all of the requirements of this Article shall be deemed a waiver of Tenant’s Extension Right hereunder. 

  
 50 

 50.02 The Fixed Annual Rent payable by Tenant for the Premises during the Extension Term
shall be one hundred (100%) percent of the fair market rental value of the Premises based upon the criteria set forth in Section 50.05 of this Article (the “FMRV”), determined as of the Expiration Date. The FMRV shall be determined as
follows. 
 (1) Eight (8) months before the Expiration Date, Landlord and Tenant shall commence negotiations in good faith to attempt
to agree upon the FMRV. If Landlord and Tenant cannot reach agreement by the date which is ten (10) months before the Expiration Date, Landlord and Tenant shall each, no later than six (6) months before the Expiration Date, select a
reputable, qualified, independent, licensed real estate broker with at least ten (10) years experience in retail leasing in midtown Manhattan, having an office in New York County and who is familiar with the rentals then being charged in the
Building and in buildings of comparable quality and character in midtown Manhattan (such brokers are referred to, respectively, as “Landlord’s Broker” and “Tenant’s Broker”), who shall confer promptly
after their selection by Landlord and Tenant and shall exercise good faith efforts to attempt to agree upon the FMRV. If Landlord’s Broker and Tenant’s Broker cannot reach agreement by the date which is five (5) months prior to the
Expiration Date, then, within twenty (20) days thereafter, the two brokers shall designate a third reputable, qualified, independent, licensed real estate broker with similar qualifications (the “Independent Broker”). Upon any
failure of Landlord’s Broker and Tenant’s Broker to timely agree upon the designation of the Independent Broker, then the Independent Broker shall be appointed by the President of the Real Estate Board of New York, Inc., or the successor
thereto, upon ten (10) days notice. Within ten (10) days after such appointment, Landlord’s Broker and Tenant’s Broker shall each submit a letter to the Independent Broker, with a copy to Landlord and Tenant, setting forth such
broker’s estimate of the FMRV and the rationale used in determining such FMRV (respectively, “Landlord’s Broker’s Letter” and “Tenant’s Broker’s Letter”). 

(2) If the estimates set forth in Landlord’s Broker’s Letter and Tenant’s Broker’s Letter differ by three (3%) percent per
annum or less, then the FMRV shall not be determined by the Independent Broker, and the FMRV shall be the average of the estimates set forth in Landlord’s Broker’s Letter and Tenant’s Broker’s Letter. If the estimates set forth
in Landlord’s Broker’s Letter and Tenant’s Broker’s Letter differ by more than three (3%) percent per annum, the Independent Broker shall conduct such investigations and hearings as he or she may deem appropriate and shall,
within thirty (30) days after the date of his or her appointment, choose either the estimate set forth in Landlord’s Broker’s Letter or the estimate set forth in Tenant’s Broker’s Letter to be the FMRV and such choice shall
be binding upon Landlord and Tenant. Landlord and Tenant shall each pay the fees and expenses of its respective broker. The fees and expenses of the Independent Broker shall be shared equally by Landlord and Tenant. 

  
 51 

 50.03 If the Extension Term shall commence prior to a determination of the Fixed Annual Rent
for the Extension Term as herein provided, then the amount to be paid by Tenant on account of Fixed Annual Rent until such determination has been made shall be the greater of: (i) the Escalated Rent; or (ii) the estimate set forth in
Landlord’s Broker’s Letter. After the Fixed Annual Rent during the Extension Term has been determined as aforesaid, any amounts theretofore paid by Tenant to Landlord on account of Fixed Annual Rent in excess of the amount of Fixed Annual
Rent as finally determined shall be credited by Landlord against the next ensuing monthly Fixed Annual Rent payable by Tenant to Landlord. 

50.04 Promptly after the Fixed Annual Rent has been determined, Landlord and Tenant shall execute, acknowledge and deliver an agreement setting
forth the Fixed Annual Rent for the Extension Term, as finally determined, provided that the failure of the parties to do so shall not affect their respective rights and obligations hereunder. 

50.05 The FMRV shall be the fair market rental value, as of the Expiration Date, of space comparable to the Premises in comparable Buildings in
midtown Manhattan, taking into account all then relevant factors applicable to a party renting such space on a renewal basis. 

Notwithstanding anything to the contrary contained in this Article, Landlord shall have the right, in its sole discretion, to waive the
conditions to the effectiveness of Tenant’s exercise of its Extension Right as set forth in this Article without thereby waiving any default by Tenant under this Lease, in which event: (i) the term of this Lease shall be extended without
execution or delivery of any other or further document in accordance with the provisions of this Article with the same force and effect as if the Extension Term had originally been included in the term of this Lease; and (ii) Landlord shall be
entitled to all of the remedies provided by this Lease, at law and in equity with respect to any such default by Tenant. 
 ARTICLE 51

 CANCELLATION RIGHT 

51.01 Tenant shall have the one-time right to cancel this Lease in its entirety (Tenant’s
“Cancellation Right”), effective as of the seventh (7th) anniversary of the Rent Commencement Date (or if same is not the last day of a calendar month, effective as of the last
day of the calendar month in which the seventh (7th) anniversary of the Rent Commencement Date shall occur), provided that: (i) Tenant delivers to Landlord no less than three hundred
sixty-five (365) days prior notice of its election to exercise its Cancellation Right (the “Cancellation Notice”): and (ii) Tenant delivers to Landlord simultaneously with its Cancellation Notice, a cancellation fee in an
amount equal to the sum of (a) the unamortized costs incurred by Landlord in connection with this Lease and the Premises for improvements, alterations, rent concessions and brokerage commissions, said costs to be amortized over the term of this
Lease on a straight line basis with interest thereon at the rate of eight (8%) percent per annum, plus (b) an amount equal to two (2) monthly installments of Fixed Annual Rent at the rate then payable by Tenant under this Lease at the time
of Tenant’s delivery of the Cancellation Notice (collectively, the “Cancellation Fee”); and (iii) Tenant is not in monetary or material non-monetary default under this Lease after
notice and the expiration of any applicable cure periods contained herein, both on the date on which the Cancellation Notice is received by Landlord and upon the effective date of cancellation, as set forth in the Cancellation Notice (the
“Cancellation Date”) (in which event Tenant’s rights under this Article shall be suspended until the earlier of (x) Tenant’s timely and full cure of the default alleged in any such notice, at which time Tenant’s
rights hereunder shall be reinstated, and (y) the expiration of Tenant’s time in which to cure any such default, at which time Tenant’s rights hereunder shall be extinguished and any Cancellation Fee previously paid to Landlord by
Tenant shall be promptly returned to Tenant less any and all amounts applied or incurred by Landlord pursuant to this Lease in order to cure Tenant’s default under this Lease which resulted in the extinguishing of Tenant’s rights
hereunder); and (iv) Tenant surrenders the Premises to Landlord on or prior to the Cancellation Date in good order and condition (reasonable wear and tear and damage by fire or other casualty excepted), vacant and broom clean, free of all
personal property, occupancies and encumbrances and otherwise in the condition required hereunder as if the Cancellation Date were the Expiration Date. Landlord shall have the right, in its sole discretion, to waive any or all of the foregoing
conditions to Tenant’s exercise of the Cancellation Right. Notwithstanding Tenant’s exercise of the Cancellation Right in accordance with the terms of this Article, the provisions of Articles 20 (“Indemnity”) and 40
(“Brokers”) hereof, in addition to all Articles hereof which, by their terms, state that they shall survive the expiration or sooner termination of this Lease, shall survive Tenant’s cancellation of this Lease pursuant to this
Article. 

  
 52 

 ARTICLE 52 

EXISTING TENANTS 

52.01 A. Notwithstanding anything to the contrary contained in this Lease, Tenant acknowledges that it has been informed by Landlord that the
Premises are presently occupied by two (2) existing tenants of the Building (the “Existing Tenants”), under separate lease agreements for Suite 1700 and Suite 1700B, respectively (the “Existing Leases”). Tenant
further acknowledges that it has been informed by Landlord that each of the Existing Tenants has advised Landlord that it may be willing to vacate and surrender to Landlord possession of the Premises prior to the Commencement Date. Landlord and
Tenant agree that if either or the both of the Existing Tenants do not vacate their respective portions of the Premises on or before the Commencement Date and, as a result, Landlord shall be unable to deliver possession of the entire Premises to
Tenant as required by the terms of this Lease (it being understood and agreed that Landlord shall not deliver, and Tenant shall not accept, possession of less than the entire Premises), then (i) Landlord shall not be subject to any liability
for such failure (provided, however, that Tenant shall have such remedies as are otherwise expressly provided for in this Article), (ii) this Lease shall remain in full force and effect without extension of the Term, however, Tenant’s
obligation to pay Fixed Annual Rent and Additional Rent hereunder shall not commence and any rent credits or abatements to which Tenant is entitled under this Lease shall be similarly delayed, until possession of the Premises is delivered to Tenant
in the condition required by this Lease, and (iii) Landlord shall promptly commence and diligently prosecute to completion the appropriate summary proceedings, as appropriate, in order to evict those Existing Tenants holding over in the
Premises and to recover lawful possession thereof. In such event, upon Landlord’s recovery of actual and lawful possession of the Premises, Landlord shall furnish Tenant with prompt notice thereof and deliver possession to Tenant in the
condition required by this Lease promptly thereafter. Except to the extent otherwise provided for by express terms located elsewhere in this Lease, Tenant expressly waives any right to rescind this Agreement under
Section 223-a of the New York Real Property Law or under any present or future statute of similar import then in force and further expressly waives the right to recover any damages, direct or indirect,
which may result from Landlord’s failure to deliver possession of the entire Premises in accordance with the terms of this Lease. Tenant agrees that the provisions of this Article are intended to constitute “an express provision to the
contrary” within the meaning of said Section 223-a. 

  
 53 

 B. In addition to the provisions of Article 17, above, in the event that Landlord shall be
unable to deliver to Tenant possession of the entire Premises in the condition required by the terms of this Lease on or before August 8, 2009, then as and for Tenant’s sole and exclusive remedy (other than and in addition to the remedies
for Tenant set forth in Subsections A and C, and those abatements of Fixed Annual Rent provided for in Section 3.02 of this Lease), then Tenant shall accrue an abatement of Fixed Annual Rent for the Premises from and after August 9, 2009
through and including September 8, 2009 (the “First Abatement Period”), at the rate of one (1) day for each day of delay in Landlord’s delivery of possession of the entire Premises until such time within the First
Abatement Period as Landlord delivers to Tenant possession of the entire Premises in the condition required by the terms of this Lease, which abatement shall be applied to the monthly installments of Fixed Annual Rent accruing under this Lease
immediately after the application and expiration of those abatements of Fixed Annual Rent provided for in Section 3.02 of this Lease. Notwithstanding the foregoing in the event that Landlord shall be unable to deliver to Tenant possession of
the entire Premises in the condition required by the terms of this Lease on or before September 8, 2009, then from and after September 9, 2009, the abatements to which Tenant was entitled during the First Abatement Period shall cease
accruing, and as and for Tenant’s sole and exclusive remedy from and after September 9, 2009 through February 8, 2010 (other than and in addition to the remedies for Tenant set forth in Subsection A, above, those abatements of Fixed
Annual Rent provided for in Section 3.02 of this Lease and those abatements of Fixed Annual Rent already enjoyed by Tenant during the First Abatement Period), Fixed Annual Rent shall be abated from and after September 9, 2009 through and
including February 8, 2010 (the “Second Abatement Period”) at the rate of two (2) days for each day of delay in Landlord’s delivery of possession of the Premises from and after September 9, 2009 until such time
within the Second Abatement Period as Landlord delivers to Tenant possession of the Premises in the condition required by the terms of this Lease, which abatement shall be applied to the monthly installments of Fixed Annual Rent accruing under this
Lease immediately after the application and expiration of those abatements of Fixed Annual Rent provided for in Section 3.02 of this Lease and those abatements provided for during the First Abatement Period. 

C. Notwithstanding the foregoing and in addition to the provisions of Article 17, above, in the event that Landlord shall be unable to deliver
to Tenant possession of the entire Premises in the condition required by the terms of this Lease on or before February 9, 2010, then Tenant shall have the one-time right as Tenant’s sole and
exclusive remedy (other than and in addition to the remedies for Tenant set forth in Subsections A and B, above, those abatements of Fixed Annual Rent provided for in Section 3.02 of this Lease and those abatements of Fixed Annual Rent already
enjoyed by Tenant during the First Abatement Period and Second Abatement Period), within fourteen (14) days thereafter (as to which date time is of the essence) to notify Landlord that Tenant elects to terminate and cancel this Lease effective
as of a date which is no more than fourteen (14) days after the delivery of the notice to Landlord (the “Termination Date”). In the event that Tenant shall fail to give such termination notice to Landlord on or prior to said
fourteenth (14th) day, Tenant shall be deemed to have waived its right to terminate and cancel this Lease pursuant to this Article 52.01 C. If Tenant duly terminates and cancels this Lease
pursuant to this Subsection C, this Lease shall be terminated and cancelled effective on the Termination Date, Landlord shall refund to Tenant any amounts paid by Tenant to Landlord under this Lease, and neither Landlord nor Tenant shall have any
further liability hereunder except that the representations and indemnifications contained in Article 40 hereof shall survive as well as any provisions which by their express terms survive the cancellation and/or termination of this Lease, and
Tenant shall have no claim for the value of any abatements otherwise provided for in Subsections A and B, above. 

  
 54 

 ARTICLE 53 

EXISTING PERSONALTY 

53.01 Tenant acknowledges that Landlord has advised Tenant that the prior occupant of a portion of the Premises, Vardon Capital Management,
LLC (“Vardon”) has advised Landlord that it intends to leave behind certain furniture, furnishings and telecommunications equipment, as more particularly described on the inventory list annexed hereto and made a part hereof as
Exhibit E (collectively, the “Personalty”) upon its surrender of the Premises. In furtherance thereof, pursuant to a written agreement between Vardon and Landlord, Vardon has surrendered to Landlord all right, title and interest of
Vardon in and to the Personalty. Landlord hereby remises, releases and quitclaims to Tenant all of Landlord’s right, title and interest, if any, in and to the Personalty; and, further, Landlord hereby assigns to Tenant any and all rights of
Landlord to claim over against Vardon in the event that any claims arise against Tenant concerning title in and to the Personalty. Tenant hereby acknowledges and agrees that (i) Landlord makes no representations or warranties concerning the
condition of, title to or rightful ownership of the Personalty or that all or any particular item of the Personalty will be left behind in the Premises by Vardon for Tenant’s use hereunder; and (ii) Landlord shall have no liability to
Tenant, and Tenant hereby releases Landlord from any liability, in connection with any claims by third parties asserting title to or an interest in any or all of the Personalty. Tenant covenants that should a third party be found to have title to or
an interest in any or all of the Personalty superior to the interest of Tenant therein, Tenant shall promptly surrender such portion of the Personalty to such third party, to the extent that Tenant remains in control or possession thereof, in which
event Tenant shall have no claim against Landlord for any credit, set-off or abatement against Rent or to terminate this Lease. 

ARTICLE 54 

HAZARDOUS MATERIALS; ACM 

54.01 A. Notwithstanding anything to the contrary contained in this Lease, Landlord shall remove, enclose, encapsulate or otherwise manage, to
the extent required by applicable law, any deteriorated asbestos or deteriorated asbestos-containing material (collectively, “Deteriorated ACM”) located within the Premises; provided, however, that notwithstanding the foregoing,
Tenant shall, at its sole cost and expense, remove, enclose, encapsulate or otherwise manage such Deteriorated ACM as required by applicable law to the extent that (i) Tenant has installed the same, or (ii) such Deteriorated ACM requires
remediation solely as a result of a default by Tenant under this Lease. In the event that Landlord performs any such removal, enclosure, encapsulation or management of Deteriorated ACM hereunder, Landlord shall promptly repair any resulting damage
to the Premises and, in connection therewith, Landlord shall use reasonable efforts to minimize interference with Tenant’s permitted use of the Premises and shall only perform same on normal business days during normal business hours to the
extent required by law. On or before the Commencement Date, Landlord shall deliver to Tenant three (3) original counterparts of form ACP-5 for the existing conditions in the Premises. 

  
 55 

 B. In the event that any hazardous materials (other than asbestos or asbestos-containing
material which are discussed above), as defined by local, state and federal law, were present in the Premises prior to the Commencement Date and require remediation during the Term, Tenant shall not be responsible for and such remediation and
compliance with such laws, and Landlord shall be responsible, at no cost to Tenant, for such remediation as required by applicable law, and shall promptly repair any resulting damage to the Premises caused by such remediation, and shall use
reasonable efforts in connection with such remediation and any such repairs thereafter, to minimize interference with Tenant’s permitted use of the Premises, and Landlord shall only perform such remediation and such repairs on normal business
days during normal business hours, to the extent required by law. Tenant shall not use or introduce any hazardous materials, as defined by local, state and federal law, into the Building or the Premises except of a nature and in quantities which are
reasonable and customary for normal office use. 
 ARTICLE 55 

RULES AND REGULATIONS 

MADE A PART OF THIS LEASE 

1. No animals, birds, bicycles or vehicles shall be brought into or kept in the Premises. The Premises shall not be used for manufacturing or
commercial repairing or for sale or display of merchandise or as a lodging place, or for any immoral or illegal purpose, nor shall the Premises be used for a public stenographer or typist; barber or beauty shop; telephone, secretarial or messenger
service; employment, travel or tourist agency; school or classroom; commercial document reproduction; or for any business other than specifically provided for in the Tenant’s lease. Tenant shall not cause or permit in the Premises any
disturbing noises which may interfere with occupants of this or neighboring Buildings, any cooking or objectionable odors, or any nuisance of any kind, or any inflammable or explosive fluid, chemical or substance. Canvassing, soliciting and peddling
in the Building are prohibited, and each tenant shall cooperate so as to prevent the same. 
 2. The toilet rooms and other water apparatus
shall not be used for any purposes other than those for which they were constructed, and no sweepings, rags, ink, chemicals or other unsuitable substances shall be thrown therein. Tenant shall not place anything out of doors, windows or skylights,
or into hallways, stairways or elevators, nor place food or objects on outside window sills. Tenant shall not obstruct or cover the halls, stairways and elevators, or use them for any purpose other than ingress and egress to or from Tenant’s
Premises, nor shall skylights, windows, doors and transoms that reflect or admit light into the Building be covered or obstructed in any way. All drapes and blinds installed by Tenant on any exterior window of the Premises shall conform in style and
color to the Building standard. 

  
 56 

 3. Tenant shall not place a load upon any floor of the Premises in excess of the load per
square foot which such floor was designed to carry and which is allowed by law. Landlord reserves the right to prescribe the weight and position of all safes, file cabinets and filing equipment in the Premises. Business machines and mechanical
equipment shall be placed and maintained by Tenant, at Tenant’s expense, only with Landlord’s consent and in settings approved by Landlord to control weight, vibration, noise and annoyance. Smoking or carrying lighted cigars, pipes or
cigarettes in the elevators of the Building is prohibited. 
 4. Tenant shall not move any heavy or bulky materials into or out of the
Building or make or receive large deliveries of goods, furnishings, equipment or other items without Landlord’s prior written consent, and then only during such hours and in such manner as Landlord shall approve and in accordance with
Landlord’s rules and regulations pertaining thereto. If any material or equipment requires special handling, Tenant shall employ only persons holding a Master Rigger’s License to do such work, and all such work shall comply with all legal
requirements. Landlord reserves the right to inspect all freight to be brought into the Building, and to exclude any freight which violates any rule, regulation or other provision of this Lease. 

5. No sign, advertisement, notice or thing shall be inscribed, painted or affixed on any part of the Building, without the prior written
consent of Landlord. Landlord may remove anything installed in violation of this provision, and Tenant shall pay the cost of such removal and any restoration costs. Interior signs on doors and directories shall be inscribed or affixed by Landlord at
Tenant’s expense. Landlord shall control the color, size, style and location of all signs, advertisements and notices. No advertising of any kind by Tenant shall refer to the Building, unless first approved in writing by Landlord. 

6. No article shall be fastened to, or holes drilled or nails or screws driven into, the ceilings, walls, doors or other portions of the
Premises, nor shall any part of the Premises be painted, papered or otherwise covered, or in any way marked or broken, without the prior written consent of Landlord. 

7. No existing locks shall be changed, nor shall any additional locks or bolts of any kind be placed upon any door or window by Tenant, without
the prior written consent of Landlord. Two (2) sets of keys to all exterior and interior locks shall be furnished to Landlord . At the termination of this Lease, Tenant shall deliver to Landlord all keys for any portion of the Premises or
Building. Before leaving the Premises at any time, Tenant shall close all windows and close and lock all doors. 
 8. No Tenant shall
purchase or obtain for use in the Premises any spring water, ice, towels, food, bootblacking, barbering or other such service furnished by any company or person not approved by Landlord. Any necessary exterminating work in the Premises shall be done
at Tenant’s expense, at such times, in such manner and by such company as Landlord shall require. Landlord reserves the right to exclude from the Building, from 6:00 p.m. to 8:00 a.m., and at all hours on Sunday and legal holidays, all persons
who do not present a pass to the Building signed by Landlord. Landlord will furnish passes to all persons reasonably designated by Tenant. Tenant shall be responsible for the acts of all, persons to whom passes are issued at Tenant’s request.

  
 57 

 9. Whenever Tenant shall submit to Landlord any plan, agreement or other document for
Landlord’s consent or approval, Tenant agrees to pay Landlord as Additional Rent, on demand, an administrative fee equal to the sum of the reasonable fees of any architect, engineer or attorney employed by Landlord to review said plan,
agreement or document and Landlord’s administrative costs for same. 
 10. The use in the Premises of auxiliary heating devices, such as
portable electric heaters, heat lamps or other devices whose principal function at the time of operation is to produce space heating, is prohibited. 

11. Tenant shall keep all doors from the hallway to the Premises closed at all times except for use during ingress to and egress from the
Premises. Tenant acknowledges that a violation of the terms of this paragraph may also constitute a violation of codes, rules or regulations of governmental authorities having or asserting jurisdiction over the Premises, and Tenant agrees to
indemnify Landlord from any fines, penalties, claims, action or increase in fire insurance rates which might result from Tenant’s violation of the terms of this paragraph. 

12. Tenant shall be permitted to maintain an “in-house” messenger or delivery service within
the Premises, provided that Tenant shall require that any messengers in its employ affix identification to the breast pocket of their outer garment, which shall bear the following information: name of Tenant, name of employee and photograph of the
employee. Messengers in Tenant’s employ shall display such identification at all time. In the event that Tenant or any agent, servant or employee of Tenant, violates the terms of this paragraph, Landlord shall be entitled to terminate
Tenant’s permission to maintain within the Premises in-house messenger or delivery service upon written notice to Tenant. 

13. Tenant will be entitled to three (3) listings on the Building lobby directory board, without charge. Any additional directory listing
(if space is available), or any change in a prior listing, with the exception of a deletion, will be subject to a fourteen ($14.00) dollar service charge, payable as Additional Rent. 

14. In case of any conflict or inconsistency between any other provisions of this Lease and any of the rules and regulations contained in this
Article or as hereafter adopted, the other provisions of this Lease shall control. 
 REMAINDER OF PAGE INTENTIONALLY BLANK

  
 58 

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

			
	SLG TOWER 45 LLC
		
	By:	 	/s/ Steven M. Durels
	Name: Steven M. Durels
	Title: Executive Vice President,
		 	  Director of Leasing and Real Property

  

	
	Witness:
	
	      

	Name:
	Title:

  

			
	SCHRODINGER, INC.
		
	By:	 	/s/ Ramy Farid
	Name: Ramy Farid, Ph.D.
	Title:   President

  

	
	Witness:
	
	/s/ Elizabeth Wang
	Name: Elizabeth Wang
	Title: VP and General Counsel

 EXHIBIT A 

LOCATION PLAN 

  
 63 

 

 

 

 

 EXHIBIT B 

RENT SCHEDULE 

  
 66 

 FIXED ANNUAL RENT SCHEDULE 

 

					
	
DATES
  
	  	 FIXED ANNUAL

          RENT          

 
	  	
MONTHLY
 INSTALLMENT

 

	From the Commencement Date through and including the day immediately preceding the 5th
anniversary of the Rent Commencement Date;	  	$620,112.00	  	$51,676.00
	From the 5th anniversary of the Rent Commencement Date through and including the
Expiration Date.	  	$684,707.00	  	$57,058.92

 EXHIBIT C 

APPROVED CONTRACTORS AND SUBCONTRACTORS 

  
 68 

 

 
 SCHRODINGER SUB | TEL | FAX | NOTE DEMOLITION 1 Liberty 201-868-7500 201-868-7501 Tri-Stale 718-349-2552 718-349-0285 AI!Stdt6
718-779-8400 718-779-3377 Fortune 201-402-9200 201-840-7788 CONCRETE Cirocco 631-847-0185 631-847-0054 Shelbourne 718-392-6050 718-392-3868 Landmark 212-967-8779 212-967-8804 Eurotech 212-594-7474 212-239-4133 MILLWORK MTD 631-491-3905 531-491-3905
Sommerville 212-534-4600 212-534-2098 Dimaio 914-476-1937 914-476-0106 Scanga 845-205-2282 HM 1 HARDWARE AAA 212-840-3939 212-768-4407 Weinstein & Holtzman 212-233-4651 212-240-9968 DCI 973-424-0183 973-424-0296 Acme 718-384-7800 347-342-3411
METAL/GLASS A-Val 914-662-0300 914-662-0197 JDG 718-435-6505 718-435-4719 Precision 718-821-0750 718-821-3505 S&J 631-845-7033 631-293-6978 CARPENTRY Sweeney & Harkin 718-392-019C ‘ 1 - . Eurotech 212-594-7474 212-239-4133 Glenn
212-243-2800 212-645-7539 Techno 718-784-3730 718-937-3267 FLOORING Century 212-243-505? 212-243-5735 Shetland 212-206-7500 212-206-7517 Consolidated 212-226-4600 212-226-4644 TILE/STONE Academic 718-463-7395 718-358-5595 Erath 631-842-2244
631-842-4267 Marcello 518-482-4371 518-482-5681 TMT 732-495-3500 732-495-3503 APPLIANCES Division 10 201-689-2244 201-689-2255 DialA-8rand 516-378-9694 516-867-3447 Royal Rose 718-392-1077 718-392-7601 PAINT Premium 212-245-3270 212-245-3303 Mia
Manhattan 212-265-5809 212-582-3768 A novel 7I8 S37 3520 718-392-4793 Onyx 212-714-9191 212-947-4130 

 

 
 Body text (2);SCHRODINGER FABRIC PANELS 1 Premium 212-245-32701 2l2-245-3303| DFB 718-729-8310|718-706-0526| Eco ‘J08-654-6G00|
908-654-6605| 1 WINDOW TREAT ! LVC 201-525-02221 201-525-0345| International 212-473-20001212-353-34COI DFB 718-729-83101718-705-05261 SPRINKLER Abco Peerless 516-294-6850 516-294-6823 Par Fire 516-837-4000 516-593-9089 Island Spnnklef 631-472-4500
631-472-6800 PLUMBING 1 Lab 212-246-9690 212-581-4929 Pace 718-389-61 CO 718-383-6335 Par Plumbing 516-887-4000 516-593-9089 Breslav; 212-265-4023 212-265-4241 HVAC PJ Mechanical 212-243-25551212-243-4267| Donnelly Mechanical 718-88G-1500
718-506-0468 Sound AC 718-343-3825 516-747-5994 BP Mechanical ELECTRIC Forest 212-318-1500 212-318-1791 ADCO 718-494 -4403 718982-7244 Kiienknecht 212-728-1800 212-728-1825 Hatzel & Buehler 212-825-1800 212-825-0931 Atlas Aeon 212-741-0600
212-243-9620 LIGHT FIXTURES Benlield |516-822 8800 516-822-8834 Image I973-773-29901973-773-2992 Chelsea |212-643-3337 |212-643-9860 DATA Cableworx SK Cabling 718-815-5161 718-815-5251 Security by Design 718-451-3700 718-461-8722 American
Communication Inc 716-957-2220 718 867-8408 Linear Technologies.Inc. 212-845-9000 212-845-9005 TELECOM lExenet LLC 212-684-73001 AUDIO-VISUAL |Reai Time Services 1212-869-71441212-869-12191 SIGNAGE |The Sign Company 1212-967-2113 212-967-4119 1
FURNITURE Furniture Consultants Inc. 212-229-4500 212-807-0036 Secure Communication Inc 212-533-6500 212-533-8471 | MOVING COMPANY ICertiliod Moving & Storage Co |212-889-2700| 212-889-17011 

 EXHIBIT D 

CLEANING SPECIFICATIONS 

  
 71 

 CLEANING SPECIFICATIONS 

 

	A)	 GENERAL CLEANING - NIGHTLY 

 

	 	•	 	 Dust sweep all stone, ceramic tile, marble terrazzo, asphalt tile, linoleum, rubber, vinyl and other types of
flooring 

  

	 	•	 	 Carpet sweep all carpets and rugs four (4) times per week 

 

	 	•	 	 Vacuum clean all carpets and rugs, once (1) per week 

 

	 	•	 	 Police all private stairways and keep in clean condition 

 

	 	•	 	 Empty and clean all wastepaper baskets, ash trays and receptacles; damp dust as necessary 

 

	 	•	 	 Clean all cigarette urns and replace sand or water as necessary 

 

	 	•	 	 Remove all normal wastepaper and tenant rubbish to a designated area in the premises. (Excluding cafeteria waste,
bulk materials, and all special materials such as old desks, furniture etc.) 

  

	 	•	 	 Dust all furniture, and window sills as necessary 

 

	 	•	 	 Dust clean all glass furniture tops 

 

	 	•	 	 Dust all chair rails, trim and similar objects as necessary 

 

	 	•	 	 Dust all baseboards as necessary 

 

	 	•	 	 Wash clean all water fountains 

 

	 	•	 	 Keep locker and service closets in clean and orderly condition 

 

	B)	 LAVATORIES-NIGHTLY (EXCLUDING PRIVATE & EXECUTIVE LAVATORIES)

  

	 	•	 	 Sweep and mop all flooring 

 

	 	•	 	 Wipe clean all mirrors, powder shelves and brightwork, including flushometers, piping fix toilet seat hinges

  

	 	•	 	 Wash and disinfect all basins, bowls and urinals 

 

	 	•	 	 Wash both sides of all toilet seats 

 

	 	•	 	 Dust all partitions, tile walls, dispensers and receptacles 

	 	•	 	 Empty and clean paper towel and sanitary disposal receptacles 

 

	 	•	 	 Fill toilet tissue holders, soap dispensers and towel dispensers; materials to be furnished by Landlord

  

	 	•	 	 Remove all wastepaper and refuse to designated area in the premises 

 

	C)	 LAVATORIES-PERIODIC CLEANING (EXCLUDES PRIVATE & EXECUTIVE LAVATORIES) 

 

	 	•	 	 Machine scrub flooring as necessary 

 

	 	•	 	 Wash all partitions, tile walls, and enamel surfaces periodically, using proper disinfectant when necessary

  

	D)	 DAY SERVICES - DUTIES OF THE DAY PORTERS 

 

	 	•	 	 Police ladies’ restrooms and lavatories, keeping them in clean condition 

 

	 	•	 	 Fill toilet dispensers; materials to be furnished by Landlord 

 

	 	•	 	 Fill sanitary napkin dispensers; materials to be furnished by Landlord 

 

	E)	 SCHEDULE OF CLEANING 

 

	 	•	 	 Upon completion of the nightly chores, all lights shall be turned off, windows closed, doors locked and offices
left in a neat and orderly condition 

  

	 	•	 	 All day, nightly and periodic cleaning services as listed herein, to be done five nights each week, Monday
through Friday, except Union and Legal Holidays 

  

	 	•	 	 All windows from the 2nd floor to the roof will be cleaned inside out quarterly, weather permitting

 EXHIBIT E 

PERSONALTY 

  
 74 

 

 

  
 

 
 Vardon Capitol Management. LLC Furniture Inventory to be indnded in surrender Code Description # Rolling 0 Desks Desk Chairs # Gbcsi
Chairs Other 1 Office 1 (double office) 2 2 2 Office 2 1 1 2 1 crcdenra. 1 white board (mounted), round table, 4 gucvt chairs 3 Office 3 1 1 2 4 Office 4 1 1 2 filing cabinet 5 Office 5 1 1 2 6 Office 6 1 1 2 1 while board (mounted) 7 Office 7
(double office) 2 S Offices 1 1 2 9 Office 9 1 1 2 10 Office 10 1 1 2 II Office II 1 1 2 1 creden/a 12 Office 12 1 1 2 i small sofa, 1 side table 13 Office 13 1 1 2 1 crcdcnza 14 Office 14 1 1 2 1 acdcn/o. 2 dub chairs, bookcase, small coffee table
15 Office 15 1 1 2 1 credcnta. 1 whne hoard (mounted) , 1 cork board (mounted) 16 Office 16 1 1 2 1 bookcase Other space W| Cabtcies 2 2 W2 Trading cubicles 2 2 T Trading Desk 4 4 Cl Conference Rm 1 1 Mather) 1 crcdenra. artwork C2 Conference Rm 2 1
10 (leather) I crcdcnxa , 4 framed pieces of art L Library Sofa. Chib chair, guest chair, coffee table, rK*K k Rcccptioa \ 1 4 dub chairs. Nig. coffee table, artwork K Kitchen 1 table. 4 chain, refrigerator, dishwasher, imcrowave. dishes, glasses,
etc. F File room S stocking file cabinets. 1 low storage unit, binding machine S Server Room Phone System. 3 racks F2 Filing area near trading desks 5 3-drawer file cabinets, 8 5-drawer file cabinets Phone handset ai each woristabon’reccptioa
area to be provided with stacking units 6/11/2009 

 LEASE MODIFICATION AND ADDITIONAL SPACE AGREEMENT 

LEASE MODIFICATION AND ADDITIONAL SPACE AGREEMENT (this “Agreement”) dated as of April 7, 2011 by and between
SLG TOWER 45 LLC, having an office c/o SL Green Realty Corp., 420 Lexington Avenue, New York, New York (hereinafter referred to as “Landlord”) and SCHRÖDINGER, INC., a Delaware corporation having an office at 120 West 45th Street, 17th floor, New York, New York 10036 (hereinafter referred to as “Tenant”). 

WITNESSETH: 

WHEREAS, Landlord and Tenant (which the parties agree was erroneously referenced as Schrodinger. Inc. in the Lease, as hereinafter
defined) entered into that certain lease agreement dated as of July 8, 2009 (the “Lease”) covering certain premises located on and comprising the entire rentable portion of the seventeenth (17th) floor (the “Existing Premises”) as more particularly described in said Lease in the building known as and located at 120 West
45th Street, New York, New York (the “Building”), for a term set to expire on January 31, 2020 (the “Expiration Date”) under the terms and conditions
contained therein; and 
 WHEREAS, Tenant wishes to add to the Existing Premises a portion of the sixteenth (16th) floor in the Building, designated as suite 1600 approximately as indicated by hatch marks on the location plan attached hereto and made a part hereof as Exhibit A (the “Additional
Space”), for a term to commence on the earlier of (i) the date upon which Landlord’s Work (as defined in Paragraph 6a, below) with respect to the Additional Space and Tenant’s Improvements (as defined in Paragraph 7a, below)
with respect to the Additional Space, shall be Substantially Completed (as hereinafter defined); and (ii) the date upon which Tenant or anyone claiming by, under or through Tenant shall occupy or otherwise accept possession of the Additional
Space (the “Additional Space Commencement Date”) and to expire on the Expiration Date (the Existing Premises and the Additional Space being hereinafter collectively referred to as the “Premises”); and 

WHEREAS, subject to and in accordance with the terms, covenants and conditions of this Agreement, Landlord has agreed to permit Tenant
to add the Additional Space to the Existing Premises; and 
 WHEREAS, Landlord and Tenant wish to modify the Lease as set forth
below. 
 NOW, THEREFORE, in consideration of the mutual agreements herein contained and other good and valuable consideration, the
receipt and sufficiency of which is hereby acknowledged, the parties hereby agree as follows: 
 1. Additional Space. 

The Additional Space is hereby added to the Existing Premises effective as of the Additional Space Commencement Date under all of the terms,
covenants and conditions of the Lease, except to the extent expressly modified herein, for a term commencing on the Additional Space Commencement Date and ending on the Expiration Date or on such earlier date upon which the Term shall expire, be
canceled or terminated pursuant to any of the terms, covenants or conditions of the Lease or pursuant to law. 

 2. Fixed Base Rent for the Additional Space. 

a. Effective as of the Additional Space Commencement Date, with respect to the Additional Space only, the Lease shall be amended to provide
that in addition to Tenant’s obligation to pay Fixed Annual Rent for the Existing Premises, Tenant shall also pay Fixed Annual Rent with respect to the Additional Space (hereinafter, “Additional Space Fixed Annual Rent”) at the
rates set forth in the schedule annexed hereto and made a part hereof as Exhibit B. 
 b. Subject to the provisions hereof, if and so long
as Tenant is not in monetary or material non-monetary default under the Lease after notice, (in which event Tenant’s rights under this Article shall be suspended until such time, if ever, as Tenant fully
cures the default alleged in such notice, at which time Tenant’s rights hereunder shall be reinstated) the first three (3) monthly installments of Fixed Annual Rent (without electricity) accruing under the Lease with respect to the
Additional Space only shall be abated by the sum of $20,632.50 per month (for a total abatement of $61,897.50). The day immediately following the application of all abatements to which Tenant is entitled pursuant to the provisions of this Subsection
b shall hereinafter be referred to as the “Additional Space Rent Commencement Date”. 
 3. Real Estate Tax
Escalations. 
 Effective as of the Additional Space Commencement Date, with respect to the Additional Space only: 

a. For purposes of Article 32.01(a) of the Lease, the reference at line two (2) thereof to “12,919” is hereby replaced with
“4,585”. 
 b. For purposes of Article 32.01(b)(i) of the Lease, the reference at line two (2) thereof to “two and
ninety-five hundredths percent (2.95%)” is hereby replaced with “one and four hundredths percent (1.04%)”. 
 c. For purposes
of Article 32.01(b)(iii) of the Lease, the reference at line two (2) thereof to “two and ninety-five hundredths percent (2.95%)” is hereby replaced with “one and four hundredths percent (1.04%)”. 

4. Operating Expense Escalations. 

Effective as of the Additional Space Commencement Date, with respect to the Additional Space only: 

a. For purposes of Article 49.02(i) of the Lease, the reference at line two (2) thereof to “2010” is hereby replaced with
“2011”. 
 b. For purposes of Article 49.02(i) of the Lease, the reference at line four (4) thereof to “2008, 2009 and
2010” is hereby replaced with “2009, 2010 and 2011”. 

  
 2 

 c. For purposes of Article 49.02(ii) of the Lease, the reference at line two
(2) thereof to “three and five hundredths (3.05%) percent” is hereby replaced with “one and eight hundredths (1.08%) percent”. 

d. For purposes of Article 49.02(ii) of the Lease, the reference at line seven (7) thereof to “12,919” is hereby replaced with
“4,585”. 
 e. For purposes of Article 49.02(iv) of the Lease, the reference at line four (4) thereof to “January 1,
2011” is hereby replaced with “January 1, 2012”. 
 5. Miscellaneous Lease Modifications. 

a. Additional Security. Upon execution of this Agreement, Tenant shall deposit with Landlord the sum of $82,530.00 (the
“Additional Security”) which shall be held by Landlord in addition to the $361,732.00 of Security presently held by Landlord as additional security for the performance of Tenant’s obligations accruing under the Lease, as
modified by this Agreement. The Additional Security shall be held and applied by Landlord in accordance with the provisions of Article 31 of the Lease; provided, however, the provisions of Article 31.02 shall not apply to the Additional Security and
the Additional Security shall not be subject to any reduction as provided for therein with respect to the Security originally posted by Tenant thereunder. 

b. Electricity. Electricity shall be supplied to the Additional Space in accordance with and subject to the provisions of Article 41 of
the Lease. 
 c. Freight Elevator. Effective as of the Additional Space Commencement Date, Article 30.01 B of the Lease is hereby
deleted in its entirety and replaced with the following: “Tenant may use one (1) freight elevator car free of charge on an “after hours” basis solely in connection with its initial move into the Additional Space, provided that
(a) such use does not exceed fifty (50) hours in the aggregate (provided that if such usage exceeds fifty (50) hours in the aggregate, Tenant shall pay to Landlord, as Additional Rent within five (5) days after demand, an amount
equal to the standard freight charges of the Building for such excess usage); (b) Tenant reserves said freight elevator car upon at least twenty-four (24) hours notice; and (c) Tenant’s use of said freight elevator in connection with
Tenant’s initial move into the Additional Space is completed within ninety (90) days following the Additional Space Commencement Date.” 

d. Effective as of the Additional Space Commencement Date and throughout the Term (including any Extension Term), Articles 52 and 53 of the
Lease shall not applicable with respect to the Additional Space. 
 e. Effective as of the Additional Space Commencement Date, for purposes
of Article 4.07(vii) of the Lease, the reference at line one (1) thereof to “three (3)” is hereby replaced with “four (4)” 

f. Effective as of the Additional Space Commencement Date, for purposes of Article 4.14 of the Lease, the reference at line five
(5) thereof to “three (3)” is hereby replaced with “four (4)” 

  
 3 

 g. Renewal Option. Effective as of the Additional Space Commencement Date, provided
that Named Tenant (as defined in Article 50.01 in the Lease and modified by this Agreement) timely and properly exercises the Extension Right (as defined in Article 50.01 in the Lease) as to the Existing Premises, then Named Tenant shall also be
entitled to exercise the Extension Right as to the Additional Space. In the event Named Tenant timely and properly exercises the Extension Right as to the Additional Space, same shall be subject to the terms, covenants and conditions of Article 50
of the Lease, and all references therein to the Premises shall include both the Existing Premises and the Additional Space. Notwithstanding anything to the contrary contained herein or in the Lease, Named Tenant may exercise the Extension Right as
to the Existing Premises without exercising the Extension Right as to the Additional Space; conversely, Tenant may not exercise the Extension Right as to the Additional Space unless Tenant simultaneously and irrevocably exercises the Extension Right
as to the Existing Premises. 
 h. Effective as of the Additional Space Commencement Date, for purposes of Article 50.01 of the Lease, the
reference at line two (2) thereof to “Successor Entity” is hereby replaced with “Related Entity” 
 i. Fire
Stairs Access. Effective as of the Additional Space Commencement Date, Landlord hereby grants to Tenant a non-exclusive, revocable license, for so long as the Lease is in full force and effect, for the use
by Tenant, its employees and invitees, in common with other occupants of and invitees to the Building, of the interior fire stairs located between the sixteenth (16th) and seventeenth (17th) floors of the Building (collectively, the “Fire Stairs”) for the sole purpose of access between the Existing Premises and the Additional Space, all of the foregoing being subject
to the provisions of the Lease and all applicable laws, ordinances, directions, rules and regulations of governmental and quasi-governmental authorities having jurisdiction. In connection with Tenant’s license to use the Fire Stairs, Landlord
shall, at Tenant’s sole cost and expense and as part of Tenant’s Improvements, connect all doors leading from the Existing Premises and the Additional Space to the Fire Stairs to Landlord’s Class E fire safety system in a
Building standard manner using Building standard materials, in accordance with the attached plan annexed hereto and made apart hereof as Exhibit D (page 2 of 3 and page 3 of 3), and otherwise in compliance with all applicable laws, ordinances,
directions, rules and regulations of governmental and quasi-governmental authorities having jurisdiction. Landlord shall, at Landlord’s sole cost and expense, perform routine cleaning, maintenance and repair to the Fire Stairs for the intended
uses of the Fire Stairs, unless the need for any such cleaning, maintenance and/or repair is necessitated by the acts or omissions of Tenant or any of its employees or invitees, in which event, Landlord shall perform such cleaning, maintenance
and/or repair and Tenant shall pay to Landlord, as Additional Rent within twenty (20) days after demand, an amount equal to Landlord’s charges therefor. Subject to the provisions of Articles 11 and 43 of the Lease, and except to the extent
caused by the negligence or willful misconduct of Landlord, its employees, agents or servants, Tenant shall indemnify, defend and save Landlord harmless from and against any liability or expense arising from the use of the Fire Stairs by Tenant
pursuant to this Subsection i, or anyone in or on the Fire Stairs with Tenant’s permission, or from any breach of Tenant’s license to use the Fires Stairs provided, however, that this indemnity shall not apply to consequential, punitive or
special damages, except as otherwise specifically provided in Article 12 of the Lease. 

  
 4 

 j. Right of First Offer. Effective as of the Additional Space Commencement Date, the
following shall be added to the Lease as Article 56.01: 
 56.01 In the event that during the Term the balance of the space
adjacent to the Additional Space and known as Suite 1605 (the “First Offer Space”) shall become vacant and available for leasing directly from Landlord by reason of a surrender agreement, a default under an existing lease, or the
expiration and nonrenewal or non-extension of the term of the first lease covering the First Offer Space after the Additional Space Commencement Date, and (2) a tenant, subtenant or other occupant of any
part of the Building, or an affiliate or subsidiary of such tenant, subtenant or occupant (a “Building Occupant”), is not then negotiating with Landlord or Landlord’s agent (directly or through a broker) with respect to the
leasing of the First Offer Space by reason of a prior right (existing as of the Additional Space Commencement Date), then Landlord shall give notice to the Named Tenant of such availability (the “First Offer Notice”). In the event
that the First Offer Notice is given by Landlord, and provided that (3) Named Tenant is not in default of any of its obligations under this Lease after notice and beyond the expiration of any applicable cure periods (a) as of the date of
the giving of the First Offer Notice, or (b) at the time of exercise of Tenant’s right to the First Offer Space, or (c) on any First Offer Commencement Date (as hereinafter defined); and (4) Named Tenant shall occupy the entire
Premises for the conduct of its business; then Named Tenant shall have the right to add to the Premises the First Offer Space on the terms and in strict compliance with the conditions hereinafter set forth for a term commencing as of the date upon
which the First Offer Space is delivered to Named Tenant (such date the “First Offer Commencement Date”) and expiring on the date upon which the Term of the Lease expires (the “First Offer Expiration Date”).
Notwithstanding anything to the contrary set forth above, Landlord shall have the right, in its sole discretion, to waive any of the foregoing conditions to Tenant’s right to add to the Premises the First Offer Space. 

56.02 Subject to the other provisions of this Article, the First Offer Space may be added to the Premises as follows: Named
Tenant shall give Landlord notice of its election to add to the Premises the First Offer Space no later than thirty (30) business days following the date upon which Landlord’s First Offer Notice to Named Tenant is given. Time shall be of
the essence in connection with the exercise by Named Tenant of its rights hereunder. 
 56.03 In the event that Named Tenant
shall fail to notify Landlord of its election within the applicable time period as provided herein, Named Tenant shall be conclusively deemed to have waived its rights hereunder with regard to the First Offer Space, and Named Tenant agrees upon
request of Landlord to confirm such waiver and non-exercise in writing; however, failure to do so by Named Tenant shall not operate to revive any rights of Named Tenant under this Article. 

  
 5 

 56.04 In the event that Named Tenant properly and timely exercises its
rights under this Article, the First Offer Space shall be added to the Premises as of the First Offer Commencement Date under the same terms, covenants and conditions of this Lease, except: 

(1) Fixed Annual Rent for the First Offer Space shall commence as of the First Offer Commencement Date and shall be calculated
at a rate which is the fixed annual rent on a fair market rental value basis for the First Offer Space based upon the criteria set forth in Subsection (5) of this Section 56.05 determined as of the day immediately preceding the First Offer
Commencement Date (the “First Offer FMRV”); and 
 (2) Tenant’s Share, as defined in Article 32 of the
Lease and the Percentage, as defined in Article 49 of the Lease, each shall be amended and increased commencing as of the First Offer Commencement Date to reflect the addition to Premises of the First Offer Space; and 

(3) the First Offer Space shall be delivered to and accepted by Named Tenant in its then existing condition, vacant and free of
occupancies, but otherwise “as-is”, and Landlord shall not be obligated to perform any work or provide any contribution to Named Tenant in order to prepare the First Offer Space for Named
Tenant’s occupancy. 
 56.05 (1) In the event that Named Tenant properly and timely exercises its rights hereunder, then
within ten (10) days following the First Offer Notice, Landlord and Named Tenant shall commence negotiations in good faith to attempt to agree upon the First Offer FMRV. If Landlord and Named Tenant cannot reach agreement within such ten
(10) day period, Landlord’s Broker shall be selected by Landlord and Named Tenant’s Broker shall be selected by Named Tenant who shall confer promptly after their selection by Landlord and Named Tenant and shall exercise good faith
efforts to attempt to agree upon the First Offer FMRV. If Landlord’s Broker and Named Tenant’s Broker cannot reach agreement within thirty (30) days of their selection then, within twenty (20) days thereafter, they shall
designate an Independent Broker. Upon failure of Landlord’s Broker and Named Tenant’s Broker timely to agree upon the designation of the Independent Broker, then the Independent Broker shall be appointed by the President of the Real Estate
Board of New York, Inc., or the successor thereto, upon ten (10) days notice. Within ten (10) days after such appointment, Landlord’s Broker shall submit Landlord’s Broker’s Letter and Named Tenant’s Broker shall submit
Named Tenant’s Broker’s Letter, with a copy to Landlord and Named Tenant, as the case may be, setting forth such broker’s estimate of the First Offer FMRV and the rationale used in determining it. 

(4) The Independent Broker shall conduct such investigations and hearings as he or she may deem appropriate and shall, within
forty-five (45) days after the date of his or her appointment, choose either the estimate set forth in Landlord’s Broker’s Letter or the estimate set forth in Named Tenant’s Broker’s Letter to be the First Offer FMRV and
such choice shall be binding upon Landlord and Named Tenant. Landlord and Named Tenant shall each pay the fees and expenses of its respective broker. The fees and expenses of the Independent Broker shall be shared equally by Landlord and Named
Tenant. 
 (5) If the First Offer Commencement Date occurs prior to a determination of the First Offer FMRV for the First
Offer Space, then the amount to be paid by Named Tenant on account of Fixed Annual Rent until such determination has been made shall be at a rate per annum which is the rate at which Fixed Annual Rent was last payable for the Premises. After the
Fixed Annual Rent for the First Offer Space has been determined as aforesaid, any amounts theretofore paid by Named Tenant to Landlord on account of Fixed Annual Rent in excess of the amount as finally determined shall be credited by Landlord
against the next ensuing monthly installment of Fixed Annual Rent payable by Named Tenant to Landlord. 

  
 6 

 (6) Promptly after the Fixed Annual Rent for the First Offer Space has been
determined, Landlord and Named Tenant shall execute, acknowledge and deliver an agreement setting forth the Fixed Annual Rent for such First Offer Space, as finally determined, provided that the failure of the parties to do so shall not affect their
respective rights and obligations hereunder. 
 (7) The First Offer FMRV shall be the fair market rental value, as of the day
preceding such First Offer Space Commencement Date, of space comparable to the First Offer Space in midtown Manhattan. 

56.06 Notwithstanding anything to the contrary contained in this Article, (i) Landlord shall have the right, in its sole
discretion, to waive the conditions set forth in this Article without thereby waiving any default by Named Tenant, in which event the First Offer Space shall be added to the Premises in accordance with the provisions of this Article, and
(ii) Landlord shall be entitled to all of the remedies provided by this Lease, at law and in equity with respect to any such default by Named Tenant. 

56.07 In the event Named Tenant duly and properly exercises its rights under this Article, the parties shall immediately be
bound thereby without the execution of an amendment to the Lease; however, at the request of either party, the parties shall promptly execute and deliver a written amendment to the Lease reflecting the addition of the First Offer Space to the
Premises, the term with respect thereto, the increase of Fixed Annual Rent, the increase of Tenant’s Share, the Percentage and other modifications as provided above, applicable to the First Offer Space. Except for such changes, the provisions
of the Lease shall apply and are hereby ratified and confirmed with respect to the First Offer Space added to the Premises. 
 k.
Cancellation Right. Effective as of the Additional Space Commencement Date, with respect to the Additional Space only the following shall be added to the Lease as Article 51.02: 

  
 7 

 “51.02 Tenant shall have the one-time right to
cancel this Lease as to the Additional Space (Tenant’s “Additional Space Cancellation Right”), effective as of April 30, 2017, provided that: (i) Tenant delivers to Landlord no less than three hundred sixty-five
(365) days prior notice of its election to exercise its Additional Space Cancellation Right (the “Additional Space Cancellation Notice”); and (ii) Tenant delivers to Landlord simultaneously with its Additional Space
Cancellation Notice, a cancellation fee (in addition to the cancellation fee with respect to Tenant’s cancellation of the Existing Premises, if Tenant also makes such election with respect to the Existing Premises) in an amount equal to the sum
of four (4) monthly installments of Fixed Annual Rent at the rate then payable by Tenant under this Lease for the Additional Space at the time of Tenant’s delivery of the Additional Space Cancellation Notice (the “Additional Space
Cancellation Fee”); and (iii) Tenant is not in monetary or material non- monetary default under this Lease after notice and the expiration of any applicable cure periods contained herein, both on the date on which the Additional Space
Cancellation Notice is received by Landlord and upon the effective date of cancellation, as set forth in the Additional Space Cancellation Notice (the “Additional Space Cancellation Date”) (in which event Tenant’s rights under
this Article shall be suspended until the earlier of (x) Tenant’s timely and full cure of the default alleged in any such notice, at which time Tenant’s rights hereunder shall be reinstated, and (y) the expiration of
Tenant’s time in which to cure any such default, at which time Tenant’s rights hereunder shall be extinguished and any Additional Space Cancellation Fee previously paid to Landlord by Tenant shall be promptly returned to Tenant less any
and all amounts applied or incurred by Landlord pursuant to this Lease in order to cure Tenant’s default under this Lease which resulted in the extinguishing of Tenant’s rights hereunder); and (iv) Tenant surrenders the Additional
Space to Landlord on or prior to the Additional Space Cancellation Date in good order and condition (reasonable wear and tear and damage by fire or other casualty excepted), vacant and broom clean, free of all personal property, occupancies and
encumbrances and otherwise in the condition required hereunder as if the Additional Space Cancellation Date were the Expiration Date. Landlord shall have the right, in its sole discretion, to waive any or all of the foregoing conditions to
Tenant’s exercise of the Additional Space Cancellation Right. Notwithstanding Tenant’s exercise of the Additional Space Cancellation Right in accordance with the terms of this Article, the provisions of Articles 20 (‘indemnity”)
and 40 (“Brokers”) of the Lease, in addition to all Articles hereof which, by their terms, state that they shall survive the expiration or sooner termination of this Lease, shall survive Tenant’s cancellation of this Lease as to the
Additional Space pursuant to this Article. Notwithstanding anything to the contrary contained herein, in the event Tenant properly and timely exercises Tenant’s Cancellation Right with respect to the Existing Premises under Article 51.01 of the
Lease, Tenant shall also properly and timely exercise Tenant’s Additional Space Cancellation Right pursuant to and in accordance with this Article 51.02, it being agreed and understood that in no event shall Tenant be permitted to cancel this
Lease as to the Existing Premises unless this Lease is also cancelled as to the Additional Space pursuant to and in accordance with this Article 51.02.” 

1. Effective as of the date that a fully executed counterpart of this Agreement is delivered by Landlord to Tenant, the following shall be
added to the Lease as Article 8.03: 
 “8.03 Landlord hereby approves, in concept only, subject to Tenant’s compliance with the
applicable provisions of this Lease including, without limitation, the provisions of Article 8, and subject to Tenant’s compliance with all applicable laws, ordinances, directions, rules and regulations of governmental and quasi-governmental
authorities having jurisdiction, Tenant’s performance, at Tenant’s sole cost and expense, of certain core drilling work between the 16th and 17th floors of the Building for the sole and exclusive purpose of connecting customary telecom wiring from the Existing Premises to the Additional Space, which core drilling work may be performed during
the period set forth in section 6(e) of this Agreement.” 
 6. Condition of the Additional Space. 

a. Tenant acknowledges and agrees that Tenant has inspected the Additional Space, is fully familiar with the physical condition thereof and
agrees to accept possession of the Additional Space in its then “as-is” condition as of the Additional Space Commencement Date, subject to Landlord’s performance and substantial completion, at
Landlord’s expense, and in a building standard manner using building standard materials in all instances unless expressly specified otherwise, of the work set forth on the schedule annexed hereto and made a part hereof as Exhibit C
(“Landlord’s Work”). Tenant acknowledges and agrees that Landlord shall have no obligation to do any work in or to the Additional Space in order to make it suitable and ready for occupancy and use by Tenant, other than
Landlord’s Work and Tenant’s Improvements (as defined in Paragraph 7a, below). The performance by Landlord of Landlord’s Work is expressly conditioned upon compliance by Tenant with all the terms and conditions of this Agreement and
the Lease. 

  
 8 

 b. Any changes in or additions to Landlord’s Work which shall be consented to by
Landlord as provided in the Lease, and further changes in or additions to the Additional Space after Landlord’s Work has been completed, if consented to and performed by Landlord or its agents at Tenant’s request, shall be paid for by
Tenant promptly when billed at cost plus 1 1/4% for insurance, 10% for overhead and 10% for general conditions, and in the event of the failure of Tenant so to pay for said changes or additions then Landlord, at its option, may consider the cost
thereof, plus the above percentages, as Additional Rent payable by Tenant and collectible as such hereunder. 
 c. If Landlord’s Work
is not substantially completed and is delayed by acts, omissions or changes made or requested by Tenant, its agents, designers, architects or any other party acting or apparently acting on Tenant’s behalf, then Tenant shall pay as hereinbefore
provided Fixed Annual Rent and Additional Rent on a per diem basis for each day of delay of Landlord’s substantial completion caused by Tenant or any of the aforementioned parties. 

d. Landlord’s Work shall be deemed to be “Substantially Completed” at such time as Landlord’s Work has been completed and
the Additional Space may be lawfully occupied by Tenant for the permitted use under the Lease notwithstanding that minor or non-material details of construction, mechanical adjustment or decoration remain to
be performed, provided, that said “Punch List Items” shall be completed by Landlord within a reasonable time thereafter. 
 e.
Notwithstanding anything to the contrary contained herein, within ten (10) days following delivery of Landlord’s notice (which may be delivered verbally or by email) to Tenant that the walls and ceilings in the Additional Space are open,
Tenant shall be permitted to gain access to the Additional Space for the sole and exclusive purpose of installing customary telephone or computer wiring therein to serve the Additional Space and to perform the core drilling work referenced in
Section 8.03 of the Lease (as modified by this Agreement), provided and on condition that (i) at all times Tenant complies fully with, and such access shall be governed by and subject to, all terms, covenants and conditions of the Lease,
except that notwithstanding the access to the Additional Space afforded Tenant pursuant to this paragraph, Tenant shall not be responsible for the payment of Fixed Annual Rent or Additional Rent to Landlord with respect to the Additional Space until
the earlier of: (a) the Additional Space Commencement Date, or (b) the date upon which Tenant or anyone claiming through Tenant first occupies the Additional Space for the conduct of business therein; and (ii) Tenant hereby
indemnifies and agrees to defend and hold Landlord, its directors, officers, partners, members, employees, agents and representatives harmless from and against any claims, costs, expenses, damages and liabilities whatsoever arising out of
Tenant’s access to or presence at the Additional Space in connection with the access afforded Tenant pursuant to this paragraph; and (iii) Tenant shall repair promptly, at Tenant’s sole cost and expense, in a good and workmanlike
manner, using materials of a quality equal or superior to those which were damaged, and in accordance with the requirements of the Lease, any and all damage to the Additional Space or the Building arising out of Tenant’s access to or presence
at the Additional Space in connection with the access afforded Tenant pursuant to this paragraph; and (iv) in the event that the presence of Tenant, or anyone claiming through Tenant, their respective agents, representatives or servants in the
Additional Space in connection with the access afforded Tenant pursuant to this paragraph delays Landlord’s performance or completion of Landlord’s Work and/or Tenant’s Improvements, then Landlord’s time in which to Substantially
Complete and thereafter complete such work shall be extended one (1) day for each day of such delay and Tenant’s obligations to commence payment of Fixed Annual Rent and Additional Rent (and the commencement of any credits or abatements of
rent to which Tenant may be otherwise entitled at the Additional Space Commencement Date) shall not be delayed as a result thereof; and (v) any conflicts in staging or scheduling between (aa) Tenant’s wiring and/or core drilling work as
permitted hereunder and (bb) Landlord’s performance or Substantial Completion of Landlord’s Work and Tenant’s Improvements as contemplated above, shall be resolved in each instance in favor of Landlord’s Work and Tenant’s
Improvements. Notwithstanding anything to the contrary contained herein, Tenant’s mere presence in the Additional Space pursuant to this paragraph shall not be deemed Tenant’s acceptance of possession of the Additional Space for the
purposes of establishing the Additional Space Commencement Date. 

  
 9 

 f. Notwithstanding anything to the contrary contained herein, within ten (10) days
prior to the Additional Space Commencement Date, upon reasonable prior notice to Landlord, Tenant shall be permitted to gain access to the Additional Space for the sole and exclusive purpose of installing customary telephone or computer wiring
covers on the partitions and walls in the Additional Space, provided and on condition that (i) at all times Tenant complies fully with, and such access shall be governed by and subject to, all terms, covenants and conditions of the Lease,
except that notwithstanding the access to the Additional Space afforded Tenant pursuant to this paragraph, Tenant shall not be responsible for the payment of Fixed Annual Rent or Additional Rent to Landlord with respect to the Additional Space until
the earlier of: (a) the Additional Space Commencement Date, or (b) the date upon which Tenant or anyone claiming through Tenant first occupies the Additional Space for the conduct of business therein; and (ii) Tenant hereby
indemnifies and agrees to defend and hold Landlord, its directors, officers, partners, members, employees, agents and representatives harmless from and against any claims, costs, expenses, damages and liabilities whatsoever arising out of
Tenant’s access to or presence at the Additional Space in connection with the access afforded Tenant pursuant to this paragraph; and (iii) Tenant shall repair promptly, at Tenant’s sole cost and expense, in a good and workmanlike
manner, using materials of a quality equal or superior to those which were damaged, and in accordance with the requirements of the Lease, any and all damage to the Additional Space or the Building arising out of Tenant’s access to or presence
at the Additional Space in connection with the access afforded Tenant pursuant to this paragraph; and (iv) in the event that the presence of Tenant, or anyone claiming through Tenant, their respective agents, representatives or servants in the
Additional Space in connection with the access afforded Tenant pursuant to this paragraph delays Landlord’s performance or completion of Landlord’s Work and/or Tenant’s Improvements, then Landlord’s time in which to Substantially
Complete and thereafter complete such work shall be extended one (1) day for each day of such delay and Tenant’s obligations to commence payment of Fixed Annual Rent and Additional Rent (and the commencement of any credits or abatements of
rent to which Tenant may be otherwise entitled at the Additional Space Commencement Date) shall not be delayed as a result thereof; and (v) any conflicts in staging or scheduling between (aa) Tenant’s work as permitted hereunder and (bb)
Landlord’s performance or Substantial Completion of Landlord’s Work and Tenant’s Improvements as contemplated above, shall be resolved in each instance in favor of Landlord’s Work and Tenant’s Improvements. Notwithstanding
anything to the contrary contained herein, Tenant’s mere presence in the Additional Space pursuant to this paragraph shall not be deemed Tenant’s acceptance of possession of the Additional Space for the purposes of establishing the
Additional Space Commencement Date. 

  
 10 

 7. Tenant’s Improvements 

a. Landlord shall perform, at Tenant’s sole cost and expense, and in a building standard manner using building standard materials in all
instances unless expressly specified otherwise, the work set forth on the schedule annexed hereto and made a part hereof as Exhibit D (“Tenant’s Improvements”). Tenant shall pay any and all costs for Tenant’s Improvements,
including, without limitation, all labor, materials and/or expenses for filing fees, plan reproduction costs and expeditor fees, which shall be paid by Tenant, as Additional Rent, within five (5) days of rendition of any bill or statement
therefor 
 b. Any changes in or additions to Tenant’s Improvements which shall be consented to by Landlord as provided in the Lease,
and further changes in or additions to the Additional Space after Tenant’s Improvements have been completed, if consented to and performed by Landlord, its agents or anyone on Tenant’s behalf, shall be paid for by Tenant promptly when
billed at cost plus 1 1/4% for insurance, 10% for overhead and 10% for general conditions, and in the event of the failure of Tenant so to pay for said changes or additions then Landlord, at its option, may consider the cost thereof, plus the above
percentages, as Additional Rent payable by Tenant and collectible as such under the Lease. 
 c. If Tenant’s Improvements are not
substantially completed and are delayed by acts, omissions or changes made or requested by Tenant, its agents, designers, architects or any other party acting or apparently acting on Tenant’s behalf, then Tenant shall pay as hereinbefore
provided Fixed Annual Rent and Additional Rent on a per diem basis for each day of delay of Landlord’s substantial completion caused by Tenant or any of the aforementioned parties. 

d. Tenant’s Improvements shall be deemed to be “Substantially Completed” at such time as Tenant’s Improvements have been
completed and the Additional Space may be lawfully occupied by Tenant for the permitted use under the Lease notwithstanding that minor or non-material details of construction, mechanical adjustment or
decoration remain to be performed, provided, that said “Punch List Items” shall be completed by Landlord within a reasonable time thereafter. 

  
 11 

 e. Notwithstanding anything to the contrary contained herein, Tenant acknowledges and
agrees that at Tenant’s request Landlord may be performing Tenant’s Improvements or portions thereof on normal business days during normal business hours during Tenant’s occupancy of the Additional Space, and that while Landlord
agrees to use commercially reasonable efforts to minimize interference with Tenant’s permitted use of the Additional Premises, in no event shall Landlord be obligated to employ contractors or laborers at overtime or premium pay rates in order
to do so, and in no event shall any such inconvenience to Tenant or anyone claiming by, through or under Tenant, as a result thereof, constitute an actual or constructive eviction, entitle Tenant to any right of
set-off, credit or abatement, or entitle Tenant to any right to terminate the Lease. 
 8.
Successors and Assigns 
 This Agreement shall be binding upon and inure to the benefit of the parties and their respective
successors and permitted assigns. 
 9. Entire Agreement. 

The Lease, as modified by this Agreement, represents the entire understanding between the parties with regard to the matters addressed herein
and may only be modified by a written agreement executed by all parties hereto. All prior understandings or agreements between the parties hereto, oral or written, with regard to the matters addressed herein, other than the Lease, are hereby merged
herein. Tenant acknowledges that neither Landlord nor any representative or agent of Landlord has made any representation or warranty, express or implied, as to the physical condition, state of repair, layout, footage or use of the Premises or any
matter or thing affecting or relating to the Premises except as specifically set forth in this Agreement. Tenant has not been induced by and has not relied upon any statement, representation or agreement, whether express or implied, not specifically
set forth in this Agreement. Landlord shall not be liable or bound in any manner by any oral or written statement, broker’s “set-up,” representation, agreement or information pertaining to the
Premises or this Agreement furnished by any real estate broker, agent, servant, employee or other person, unless specifically set forth herein, and no rights are or shall be acquired by Tenant by implication or otherwise unless expressly set forth
herein. 
 10. Effectiveness. 

Landlord and Tenant agree that this Agreement is submitted to Tenant on the understanding that it shall not be considered an offer and shall
not bind Landlord in any way unless and until: (i) Tenant has duly executed and delivered duplicate originals hereof to Landlord; and (ii) Landlord has executed and delivered one of said originals to Tenant. 

11. Ratification. 
 Except
as specifically modified herein, all other terms, covenants and conditions of the Lease are and shall remain in full force and effect and are hereby ratified and confirmed. 

  
 12 

 12. No Brokers/Indemnification. 

a. Tenant covenants, represents and warrants that Tenant has had no dealings or negotiations with any broker or agent in connection with the
consummation of this Agreement other than SL Green Leasing LLC and Cushman & Wakefield, Inc. (collectively, the “Brokers”) and Tenant covenants and agrees to defend, hold harmless and indemnify Landlord from and against any
and all cost, expense (including reasonable attorneys’ fees) or liability for any compensation, commissions or charges claimed by any broker or agent (other than the Brokers) with respect to this Agreement or the negotiation thereof. 

b. Landlord covenants, represents and warrants that Landlord has had no dealings or negotiations with any broker or agent in connection with
the consummation of this Agreement other than the Brokers, and Landlord covenants and agrees to defend, hold harmless and indemnify Tenant from and against any and all cost, expense (including reasonable attorneys’ fees) or liability for any
compensation, commissions or charges claimed by any broker or agent, other than Brokers, with whom Landlord has dealt with respect to this Agreement or the negotiation thereof. Landlord agrees to pay any commissions due the Brokers in connection
with this Agreement, pursuant to a separate agreement(s). 
 13. Miscellaneous. 

A. The captions in this Agreement are for convenience of reference only and are not to be considered in construing this Agreement. 

B. This Agreement shall be construed without regard to any presumption or other rule requiring construction against the party causing this
Agreement to be drafted. 
 C. Terms used in this Agreement and not otherwise defined herein shall have the respective meanings ascribed
thereto in the Lease. 
 D. If any provision of this Agreement or its application to any person or circumstances is invalid or unenforceable
to any extent, the remainder of this Agreement, or the applicability of such provision to other persons or circumstances, shall be valid and enforceable to the fullest extent permitted by law and shall be deemed to be separate from such invalid or
unenforceable provisions and shall continue in full force and effect. 
 THE REMAINDER OF THIS PAGE IS INTENTIONALLY LEFT BLANK 

  
 13 

 IN WITNESS WHEREOF, Landlord and Tenant have duly executed this Agreement as of the
date first above written. 
  

									
	LANDLORD:	 		 	SLG TOWER 45 LLC, as Landlord
				
		 		 	By:	 	 /s/ Steven M. Durels

		 		 		 	Name: Steven M. Durels
		 		 		 	Title:	 	Executive Vice President,
		 		 		 		 	Director of Leasing and Real Property

  

			
	Witness:
		
	By:	 	 /s/ Monica Perez

	Name: Monica Perez
		 	    Admin. Asst.

  

									
	TENANT:	 		 	SCHRÖDINGER, INC., as Tenant
				
		 		 	By:	 	 /s/ Ramy Farid

		 		 		 	Name: Ramy Farid
		 		 		 	Title:   President

  

			
	Witness:
		
	By:	 	 /s/ Yvonne K. Tran

	Name: Yvonne K. Tran
		 	    General Counsel
		 	    Schrödinger, Inc.

  
 14 

 EXHIBIT A 

Floor Plan of the Additional Space 

(See Attached) 

  
 15 

 

 

 EXHIBIT B 

ADDITIONAL SPACE FIXED ANNUAL RENT SCHEDULE 
  

					
	
Period

 
	  	
Fixed Annual Rent
  
	  	
Monthly Installment
  

	 from the Additional Space Rent Commencement Date
through & including the day immediately preceding the fifth (5th) anniversary thereof;
  
	  	        $247,590.00	  	       $20,632.50
	 from the fifth (5th) anniversary of the Additional Space Rent Commencement Date through and including the Expiration Date.
  
	  	        $270,515.00	  	       $22,542.92

  
 17 

 EXHIBIT C 

Landlord’s Work 
 Landlord shall
perform the following, which shall constitute Landlord’s Work, subject to and in accordance with the terms, covenants and conditions of this Agreement and the Lease. 
  

	 	1.	 reconfigure the Additional Space in accordance with the attached plan. (See 4 pages attached hereto).

  
 18 

 

 

 

 

 

 

 

 

 EXHIBIT D 

Tenant’s Improvements 
 Landlord
shall perform the following, which shall constitute Tenant’s Improvements subject to and in accordance with the terms, covenants and conditions of this Agreement and the Lease. 

 

	1.	 Perform work to the Additional Space in accordance with the attached plan. (See 3 pages attached hereto).

  
 23 

 

 

 

 

 

 

 SECOND LEASE MODIFICATION AND ADDITIONAL SPACE AGREEMENT 

SECOND LEASE MODIFICATION AND ADDITIONAL SPACE AGREEMENT (this “Agreement”) dated as of August 12, 2013 by and between
SLG TOWER 45 LLC, having an office c/o SL Green Realty Corp., 420 Lexington Avenue, New York, New York (hereinafter referred to as “Landlord”) and SCHRÖDINGER, INC., a Delaware corporation having an office at 120 West 45th Street, 17th floor, New York, New York 10036 (hereinafter referred to as “Tenant”). 

WITNESSETH: 

WHEREAS, Landlord and Tenant (which the parties agree was erroneously referenced as Schrödinger, Inc. in the Lease, as hereinafter
defined) entered into that certain lease agreement dated as of July 8, 2009 (the “Original Lease”) covering certain premises located on and comprising the entire rentable portion of the seventeenth (17th) floor (the “Original Premises”) as more particularly described in said Lease in the building known as and located at 120 West
45th Street, New York, New York (the “Building”), for a term set to expire on January 31, 2020 (the “Expiration Date”), which Original Lease was thereafter
modified by that certain lease modification and additional space agreement, dated as of April 7, 2011 (the “First Modification”), wherein, inter alia. Tenant added to the Original Premises that certain space on the
sixteenth (16th) floor (the “First Additional Space”), of the Building, under the terms and conditions contained in the Original Lease as modified by the First Modification; (the
Original Premises and First Additional Space, hereinafter referred to collectively as the “Existing Premises”); (said Original Lease, as so modified by the First Modification, hereinafter referred to collectively as the
“Lease”), under the terms and conditions contained therein; and 
 WHEREAS, Tenant wishes to add to the Existing
Premises the entire rentable portion of the eighth (8th) floor in the Building, approximately as indicated by hatch marks on the location plan attached hereto and made a part hereof as Exhibit
A (the “Second Additional Space”), for a term to commence on the earlier of (i) the date upon which Landlord’s Work (as defined in Paragraph 6a, below) shall be Substantially Completed (as hereinafter defined) (but in
no event earlier than August 1, 2013); and (ii) the date upon which Tenant or anyone claiming by, under or through Tenant shall occupy or otherwise accept possession of the Second Additional Space (the “Second Additional Space
Commencement Date”) and to expire on the Expiration Date (the Existing Premises and the Second Additional Space being hereinafter sometimes collectively referred to as the “Premises”); and 

WHEREAS, subject to and in accordance with the terms, covenants and conditions of this Agreement, Landlord has agreed to permit Tenant
to add the Second Additional Space to the Existing Premises; and 
 WHEREAS, Landlord and Tenant wish to modify the Lease as set
forth below. 

 NOW, THEREFORE, in consideration of the mutual agreements herein contained and other
good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the parties hereby agree as follows: 
 1.
Second Additional Space. 
 The Second Additional Space is hereby added to the Existing Premises effective as of the Second
Additional Space Commencement Date under all of the terms, covenants and conditions of the Lease, except to the extent expressly modified herein, for a term commencing on the Second Additional Space Commencement Date and ending on the Expiration
Date or on such earlier date upon which the Term shall expire, be canceled or terminated pursuant to any of the terms, covenants or conditions of the Lease or pursuant to law. 

2. Fixed Base Rent for the Second Additional Space. 

a. Effective as of the Second Additional Space Commencement Date, with respect to the Second Additional Space only, the Lease shall be amended
to provide that in addition to Tenant’s obligation to pay Fixed Annual Rent for the Existing Premises, Tenant shall also pay Fixed Annual Rent with respect to the Second Additional Space (hereinafter, sometimes “Second Additional Space
Fixed Annual Rent”) at the rates set forth in the schedule annexed hereto and made a part hereof as Exhibit B. 
 b. Subject to the
provisions hereof, if and so long as Tenant is not in monetary or material non-monetary default under the Lease after notice, (in which event Tenant’s rights under this Article shall be suspended until
such time, if ever, as Tenant fully cures the default alleged in such notice, at which time Tenant’s rights hereunder shall be reinstated): (1) the first seven (7) monthly installments of Fixed Annual Rent (without electricity) accruing
under the Lease with respect to the Second Additional Space only shall be abated by the sum of $37,848.75 per month; and (ii) the first ten (10) days of the eighth (8th) monthly
installment of Fixed Annual Rent (without electricity) accruing under the Lease with respect to the Second Additional Space only shall be abated by the sum of $1,244.34 per day, (for a total abatement of $277,384.67). The day immediately following
the application of all abatements to which Tenant is entitled pursuant to the provisions of this Subsection b shall hereinafter be referred to as the “Second Additional Space Rent Commencement Date”; and (2) Tenant may elect to
convert up to two (2) monthly installments of the abated Fixed Annual Rent referenced in this Subsection 2b (the amount set forth in Tenant’s Abatement Relinquishment Notice (as hereinafter defined) is hereinafter the “Relinquished
Abatement”) and have Landlord add the Relinquished Abatement to Landlord’s Contribution referenced in Subsection 7b, below, by delivering written notice of such election to Landlord on or prior to the one hundred twentieth (120th) day following the Second Additional Space Commencement Date (“Tenant’s Abatement Relinquishment Notice”). Time is of the essence with respect to the giving of the
Tenant’s Abatement Relinquishment Notice. In the event that Tenant timely and properly delivers Tenant’s Abatement Relinquishment Notice to Landlord, and Tenant is eligible to do so pursuant to the above provisions of this Subsection 2b,
the abated Fixed Annual Rent referenced in this Subsection 2b shall be reduced by the Relinquished Abatement and, except as otherwise expressly set forth in this Agreement, Tenant shall have no further claim to the Relinquished Abatement, or to any
credit, set-off or further abatement, or to terminate the Lease on account thereof, and Landlord’s Contribution referenced in Subsection 7b, below, shall be increased and thereafter deemed to include the
Relinquished Abatement, which shall be subject to all applicable provisions of Section 7 of this Agreement. 

  
 2 

 3. Real Estate Tax Escalations. 

Effective as of the Second Additional Space Commencement Date, with respect to the Second Additional Space only: 

a. For purposes of Article 32.01(a) of the Lease, the reference at line two (2) thereof to “12,919” is hereby replaced with
“10,093”. 
 b. For purposes of Article 32.01(b)(i) of the Lease, the reference at line two (2) thereof to “two and
ninety-five hundredths percent (2.95%)” is hereby replaced with “two and twenty-nine hundredths percent (2.29%)”. 
 c. For
purposes of Article 32.01(b)(iii) of the Lease the “Base Tax Year” shall mean the average of the Real Estate Taxes payable for: (x) the New York City real estate fiscal tax year commencing on July 1, 2013 through
June 30, 2014, and (y) the New York City real estate tax year commencing on July 1, 2014 through June 30, 2015”. 

4. Operating Expense Escalations. 

Effective as of the Second Additional Space Commencement Date, with respect to the Second Additional Space only: 

a. For purposes of Article 49.02(i) of the Lease, the reference at line two (2) thereof to “2010” is hereby replaced with
“2014”. 
 b. For purposes of Article 49.02(i) of the Lease, the reference at line four (4) thereof to “2008, 2009 and
2010” is hereby replaced with “2012, 2013 and 2014”. 
 c. For purposes of Article 49.02(ii) of the Lease, the reference at
line two (2) thereof to “three and five hundredths (3.05%) percent” is hereby replaced with “two and thirty-seven hundredths (2.37%) percent”. 

d. For purposes of Article 49.02(ii) of the Lease, the reference at line seven (7) thereof to “12,919” is hereby replaced with
“10,093”. 
 e. For purposes of Article 49.02(iv) of the Lease, the reference at line four (4) thereof to “January 1,
2011” is hereby replaced with “January 1, 2015”. 
 5. Miscellaneous Lease Modifications. 

a. Additional Security. Upon execution of this Agreement, Tenant shall deposit with Landlord the sum of $264,941.25 (the
“Additional Security”) which shall be held by Landlord in addition to the $444,262.00 of Security presently held by Landlord as additional security for the performance of Tenant’s obligations accruing under the Lease, as
modified by this Agreement. The Additional Security shall be held and applied by Landlord in accordance with the provisions of Article 31 of the Lease; provided, however, the provisions of Article 31.02 shall not apply to the Additional Security and
the Additional Security shall not be subject to any reduction as provided for therein with respect to the Security originally posted by Tenant thereunder. 

  
 3 

 b. Electricity. Electricity shall be supplied to the Second Additional Space in
accordance with and subject to the provisions of Article 41 of the Lease. 
 c. Freight Elevator. Effective as of the Second
Additional Space Commencement Date, Article 30.01 B of the Lease is hereby deleted in its entirety and replaced with the following: “Tenant may use one (1) freight elevator car free of charge on an “after hours” basis solely in
connection with its construction and furnishing of and initial move into the Second Additional Space, provided that (a) such use does not exceed one hundred (100) hours in the aggregate (provided that if such usage exceeds one hundred
(100) hours in the aggregate. Tenant shall pay to Landlord, as Additional Rent within five (5) days after demand, an amount equal to the standard freight charges of the Building for such excess usage); (b) Tenant reserves said freight
elevator car upon at least twenty-four (24) hours notice; and (c) Tenant’s use of said freight elevator in connection with Tenant’s initial move into the Second Additional Space is completed within ninety (90) days following
the Second Additional Space Commencement Date.” 
 d. Air Conditioning. Effective as of the Second Additional Space Commencement
Date, with respect to the Second Additional Space only the following shall be added to the Lease as Articles 35.05, 35.06, 35.07 and 35.08: 

“35.05 Landlord hereby approves, in concept only, subject to Tenant’s compliance with the applicable provisions of
this Lease including, without limitation, the provisions of this Article 35 and of Article 8, Tenant’s installation, at Tenant’s sole cost and expense, of a supplemental air conditioning unit to service the Second Additional Space (the
“Second Additional Space Supplemental System”). Tenant shall pay for all electricity consumed in the operation of the Second Additional Space Supplemental System (and/or water, gas and steam) for the production of chilled and/or
condenser water and its supply to the Second Additional Space, if applicable, which shall become the obligation of Tenant subject to the terms of Article 41 of this Lease. Tenant shall pay for all parts and supplies necessary for the proper
operation of the Second Additional Space Supplemental System (and any restoration or replacement by Tenant of all or any part thereof shall be in quality and class at least equal to the original work or installations); provided, however, that Tenant
shall not alter, modify, remove or replace the Second Additional Space Supplemental System, or any part thereof, without Landlord’s prior written consent. 

35.06 Without limiting the generality of the foregoing, Tenant shall, at its own cost and expense, (a) cause to be
performed all maintenance of the Second Additional Space Supplemental System, including all repairs and replacements thereto, and (b) commencing as of the date upon which Tenant shall first occupy the Second Additional Space for the conduct of
its business, and thereafter throughout the Term of the Lease, maintain in force and provide a copy of same to Landlord an air conditioning service repair and full service maintenance contract covering the Second Additional Space Supplemental System
in form reasonably satisfactory to Landlord with an air conditioning contractor or servicing organization approved by Landlord. All such contracts shall provide for the thorough overhauling of the Second Additional Space Supplemental System at least
once each year during the Term of this Lease and shall expressly state that (i) it shall be an automatically renewing contract terminable upon not less than thirty (30) days prior written notice to Landlord (sent by certified mail, return
receipt requested) and (ii) the contractor providing such service shall maintain a log at the Second Additional Space detailing the service provided to the Second Additional Space Supplemental System during each visit pursuant to such contract.
Tenant shall keep such log at the Second Additional Space and permit Landlord to review same promptly after Landlord’s request. The Second Additional Space Supplemental System is and shall at all times remain the property of Landlord, and at
the expiration or sooner termination of the Lease, Tenant shall surrender to Landlord the Second Additional Space Supplemental System in good working order and condition, subject to normal wear and tear and shall deliver to Landlord a copy of the
service log. In the event that Tenant fails to obtain the contract required herein or perform any of the maintenance or repairs required hereunder, Landlord shall have the right, but not the obligation, to procure such contract and/or perform any
such work and charge Tenant as Additional Rent hereunder the cost of same plus an administrative fee equal to five (5%) percent of such cost which shall be paid for by Tenant on demand. 

  
 4 

 35.07 If and so long as Tenant is not in default of this Lease after notice
and the expiration of any cure period contained herein then, upon Tenant’s election, Landlord shall make available to Tenant up to ten (10) tons of condenser water for use by Tenant in the Second Additional Space in connection with the
operation by Tenant of the Second Additional Space Supplemental System (the “Condenser Water”), provided that Tenant elects to have Landlord supply such Condenser Water by notice (“Tenant’s Condenser Water
Notice”) given to Landlord as part and parcel of Tenant’s Second Additional Space Alteration Work (as hereinafter defined) as reflected in Tenant’s Plans (as defined in Article 7 of this Agreement, below), or no later than the
second (2nd) anniversary of the Second Additional Space Commencement Date, which Tenant’s Condenser Water Notice shall set forth the tonnage of Condenser Water requested by Tenant. In the
event that Tenant shall fail to provide Landlord with Tenant’s Condenser Water Notice in a timely manner or in the event that Tenant’s Condenser Water Notice shall request, or Tenant shall use, less than the full ten (10) tons
referred to above for more than twenty-four (24) consecutive months during the Term, then Tenant’s access to Condenser Water shall be limited to that lesser amount so requested and used by Tenant, and Tenant’s access to any additional
Condenser Water shall be subject to availability on a first-come/first-served basis. 
 35.08 Tenant shall pay to Landlord
as Additional Rent hereunder the following charges (plus sales tax, if applicable) in consideration of Landlord’s agreement to make available to Tenant Condenser Water hereunder, commencing as of the date upon which Tenant gives Tenant’s
Condenser Water Notice to Landlord, an annual charge of $900.00 per ton of Condenser Water (the “Annual Condenser Water Charge”) for the tonnage requested, subject to increase as provided for herein. Except as otherwise provided for
herein, all sums payable under this Article shall be deemed to be Additional Rent and shall be paid by Tenant within twenty (20) days after demand. Commencing as of the first (1st)
anniversary of the Second Additional Space Rent Commencement Date and on each anniversary of the Second Additional Space Rent Commencement Date thereafter during the Term and any extensions or renewals thereof, the Annual Condenser Water Charge
shall be increased to an amount equal to the product obtained by multiplying: (x) the Annual Condenser Water Charge; by (y) a fraction, the numerator of which is the Consumer Price Index, All Items, New York and New Jersey, All Urban
Consumers (the “CPI”) for the month before the month in which the Second Additional Space Rent Commencement Date occurred of the subject year, and the denominator of which is the CPI for the month and year in which the Second
Additional Space Rent Commencement Date occurred.” 

  
 5 

 e. Effective as of the Second Additional Space Commencement Date and throughout the Term
(including any Extension Term), Articles 52 and 53 of the Lease shall not applicable with respect to the Second Additional Space. 
 f.
Renewal Option. Effective as of the Second Additional Space Commencement Date, provided that Named Tenant (as defined in Article 50.01 in the Lease and modified by this Agreement) timely and properly exercises the Extension Right (as defined
in Article 50.01 in the Lease) as to the Original Premises, then Named Tenant shall also be entitled to exercise the Extension Right as to the Second Additional Space. In the event Named Tenant timely and properly exercises the Extension Right as to
the Second Additional Space, same shall be subject to the terms, covenants and conditions of Article 50 of the Lease, and all references therein to the Premises shall include both the Original Premises (or the Existing Premises, as the case may be)
and the Second Additional Space. Notwithstanding anything to the contrary contained herein or in the Lease, Named Tenant may exercise the Extension Right as to the Original Premises without exercising the Extension Right as to the Second Additional
Space; conversely, Tenant may not exercise the Extension Right as to the Second Additional Space unless Tenant simultaneously and irrevocably exercises the Extension Right as to the Original Premises. 

g. Cancellation Right. Effective as of the Second Additional Space Commencement Date, with respect to the Second Additional Space only
the following shall be added to the Lease as Article 51.03: 
 “51.03 Tenant shall have the one-time right to cancel this Lease as to the Second Additional Space (Tenant’s “Second Additional Space Cancellation Right”), effective as of April 30, 2017, provided that:
(i) Tenant delivers to Landlord no less than three hundred sixty-five (365) days prior notice of its election to exercise its Second Additional Space Cancellation Right (the “Second Additional Space Cancellation Notice”);
and (ii) Tenant delivers to Landlord simultaneously with its Second Additional Space Cancellation Notice, a cancellation fee (in addition to the cancellation fee with respect to Tenant’s cancellation of the Original Premises and/or the
cancellation fee with respect to Tenant’s cancellation of the First Additional Space, if Tenant also makes such election with respect to the Original Premises and/or the First Additional Space, as the case may be) in an amount equal to: (x)
$286,441.67 representing the unamortized costs incurred by Landlord in connection with the Second Additional Space for improvements, alterations and brokerage commissions, plus (y) the sum of two (2) monthly installments of Fixed Annual
Rent at the rate then payable by Tenant under this Lease for the Second Additional Space at the time of Tenant’s delivery of the Second Additional Space Cancellation Notice (the “Second Additional Space Cancellation Fee”); and
(iii) Tenant is not in monetary or material non-monetary default under this Lease after notice and the expiration of any applicable cure periods contained therein, both on the date on which the Second
Additional Space Cancellation Notice is received by Landlord and upon the effective date of cancellation, as set forth in the Second Additional Space Cancellation Notice (the “Second Additional Space Cancellation Date”) (in which
event Tenant’s rights under this Article shall be suspended until the earlier of (x) Tenant’s timely and full cure of the default alleged in any such notice, at which time Tenant’s rights hereunder shall be reinstated, and
(y) the expiration of Tenant’s time in which to cure any such default, at which time Tenant’s rights hereunder shall be extinguished and any Second Additional Space Cancellation Fee previously paid to Landlord by Tenant shall be
promptly returned to Tenant less any and all amounts applied or incurred by Landlord pursuant to this Lease in order to cure Tenant’s default under this Lease which resulted in the extinguishing of Tenant’s rights hereunder); and
(iv) Tenant surrenders the Second Additional Space to Landlord on or prior to the Second Additional Space Cancellation Date in good order and condition (reasonable wear and tear and damage by fire or other casualty excepted), vacant and broom
clean, free of all personal property, occupancies and encumbrances and otherwise in the condition required hereunder as if the Second Additional Space Cancellation Date were the Expiration Date. Landlord shall have the right, in its sole discretion,
to waive any or all of the foregoing conditions to Tenant’s exercise of the Second Additional Space Cancellation Right. Notwithstanding Tenant’s exercise of the Second Additional Space Cancellation Right in accordance with the terms of
this Article, the provisions of Articles 20 (“Indemnity”) and 40 (“Brokers”) of the Lease, in addition to all Articles hereof which, by their terms, state that they shall survive the expiration or sooner termination of this
Lease, shall survive Tenant’s cancellation of this Lease as to the Second Additional Space pursuant to this Article. Notwithstanding anything to the contrary contained herein, in the event Tenant properly and timely exercises Tenant’s
Cancellation Right with respect to the Original Premises under Article 51.01 of the Lease, and Tenant properly and timely exercises Tenant’s Additional Space Cancellation Right with respect to the First Additional Space under Article 51.02 of
the Lease, Tenant shall also properly and timely exercise Tenant’s Second Additional Space Cancellation Right pursuant to and in accordance with this Article 51.03, it being agreed and understood that in no event shall Tenant be permitted to
cancel this Lease as to the Existing Premises unless this Lease is also cancelled as to the Second Additional Space pursuant to and in accordance with this Article 51.03, but Tenant may nonetheless retain the Original Premises and cancel the Lease
with respect to either or both of the First Additional Space and Second Additional Space.” 

  
 6 

 h. Core Drilling. Effective as of the date that a fully executed counterpart of this
Agreement is delivered by Landlord to Tenant, the following shall be added to the Lease as Article 8.04: 
 “8.04
Notwithstanding anything to the contrary contained in the Lease, in the event D.E. Shaw & Co., LP. (“D.E. Shaw”), a tenant in the Building as of the date hereof, fails to permit Tenant access to the dedicated conduit
located in the common areas of the eighth (8th) through the seventeenth (17th) floors of the Building to facilitate Tenant’s connection of its customary telecom wiring from the Existing Premises to the Second Additional Space, Tenant shall be
permitted to send written notice to Landlord of such failure (“Tenant’s Conduit Access Notice”). Within a reasonable time (but in no event less than thirty (30) days) following Landlord’s receipt of Tenant’s
Conduit Access Notice, Landlord, at Landlord’s sole cost and expense, shall: (i) perform certain core drilling work between the eighth (8th) and seventeenth (17th) floors of the Building, and (ii) install a four inch (4”) riser
between the eighth (8th) and seventeenth (17th) floors of the Building, so that Tenant can connect its customary telecom wiring from the Existing Premises to the Second Additional Space. In the event D.E. Shaw does so permit Tenant access to the
dedicated conduit located in the common areas of the eighth (8th) through the seventeenth (17th) floors of the Building, and the D.E. Shaw lease expires or is sooner terminated prior to the Expiration Date, Landlord shall continue to permit Tenant
access to such dedicated conduit located in the common areas of the eighth (8th) through the seventeenth (17th) floors of the Building to facilitate Tenant’s connection of its customary telecom wiring from the Existing Premises to the Second
Additional Space. 

  
 7 

 6. Condition of the Second Additional Space. 

a. Tenant acknowledges and agrees that Tenant has inspected the Second Additional Space, is fully familiar with the physical condition thereof
and agrees to accept possession of the Second Additional Space in its then “as-is” condition as of the Second Additional Space Commencement Date, subject to Landlord’s performance and
substantial completion, at Landlord’s expense, and in a building standard manner, in compliance with all applicable laws, using building standard materials in all instances unless expressly specified otherwise, of the work set forth on the
schedule annexed hereto and made a part hereof as Exhibit C (“Landlord’s Work”). Tenant acknowledges and agrees that Landlord shall have no obligation to do any work in or to the Second Additional Space in order to make it
suitable and ready for occupancy and use by Tenant, other than Landlord’s Work. The performance by Landlord of Landlord’s Work is expressly conditioned upon compliance by Tenant with all the terms and conditions of this Agreement and the
Lease. 
 b. Any changes in or additions to Landlord’s Work which shall be consented to by Landlord as provided in the Lease, and
further changes in or additions to the Second Additional Space after Landlord’s Work has been completed, if consented to and performed by Landlord or its agents at Tenant’s request, shall be paid for by Tenant promptly when billed at cost
plus 1 1/4% for insurance, 10% for overhead and 10% for general conditions (provided that if insurance, overhead and/or general conditions are included in the contractor’s price then any such changes in or additions to Landlord’s Work
shall be at Landlord’s cost therefor without any such markup), and in the event of the failure of Tenant so to pay for said changes or additions then Landlord, at its option, may consider the cost thereof, plus the above percentages, as
Additional Rent payable by Tenant and collectible as such hereunder. 
 c. If Landlord’s Work is not substantially completed and is
delayed by acts, omissions or changes made or requested by Tenant, its agents, designers, architects or any other party acting or apparently acting on Tenant’s behalf, then Tenant shall pay as hereinbefore provided Fixed Annual Rent and
Additional Rent with respect to the Second Additional Space on a per diem basis for each day of delay of Landlord’s substantial completion caused by Tenant or any of the aforementioned parties. 

  
 8 

 d. Landlord’s Work shall be deemed to be “Substantially Completed” at such
time as Landlord’s Work has been completed and the Second Additional Space may be lawfully occupied by Tenant for the permitted use under the Lease notwithstanding that minor or non-material details of
construction, mechanical adjustment or decoration remain to be performed, provided, that said “Punch List Items” shall be completed by Landlord within a reasonable time thereafter. 

e. Notwithstanding anything to the contrary contained herein, within ten (10) days following delivery of Landlord’s notice (which
may be delivered verbally or by email) to Tenant that the walls and ceilings in the Second Additional Space are open, Tenant shall be permitted to gain access to the Second Additional Space for the sole and exclusive purpose of installing customary
telephone or computer wiring therein to serve the Second Additional Space and to perform the core drilling work referenced in Section 8.04 of the Lease (as modified by this Agreement), provided and on condition that (i) at all times Tenant
complies fully with, and such access shall be governed by and subject to, all terms, covenants and conditions of the Lease, except that notwithstanding the access to the Second Additional Space afforded Tenant pursuant to this paragraph, Tenant
shall not be responsible for the payment of Fixed Annual Rent or Additional Rent to Landlord with respect to the Second Additional Space until the earlier of: (a) the Second Additional Space Commencement Date, or (b) the date upon which
Tenant or anyone claiming through Tenant first occupies the Second Additional Space for the conduct of business therein; and (ii) Tenant hereby indemnifies and agrees to defend and hold Landlord, its directors, officers, partners, members,
employees, agents and representatives harmless from and against any claims, costs, expenses, damages and liabilities whatsoever arising out of Tenant’s access to or presence at the Second Additional Space in connection with the access afforded
Tenant pursuant to this paragraph; and (iii) Tenant shall repair promptly, at Tenant’s sole cost and expense, in a good and workmanlike manner, using materials of a quality equal or superior to those which were damaged, and in accordance
with the requirements of the Lease, any and all damage to the Second Additional Space or the Building arising out of Tenant’s access to or presence at the Second Additional Space in connection with the access afforded Tenant pursuant to this
paragraph; and (iv) in the event that the presence of Tenant, or anyone claiming through Tenant, their respective agents, representatives or servants in the Second Additional Space in connection with the access afforded Tenant pursuant to this
paragraph delays Landlord’s performance or completion of Landlord’s Work, then Landlord’s time in which to Substantially Complete and thereafter complete such work shall be extended one (1) day for each day of such delay and
Tenant’s obligations to commence payment of Fixed Annual Rent and Additional Rent (and the commencement of any credits or abatements of rent to which Tenant may be otherwise entitled at the Second Additional Space Commencement Date) shall not
be delayed as a result thereof; and (v) any conflicts in staging or scheduling between (aa) Tenant’s wiring and/or core drilling work as permitted hereunder and (bb) Landlord’s performance or Substantial Completion of Landlord’s
Work, shall be resolved in each instance in favor of Landlord’s Work. Notwithstanding anything to the contrary contained herein, Tenant’s mere presence in the Second Additional Space pursuant to this paragraph shall not be deemed
Tenant’s acceptance of possession of the Second Additional Space for the purposes of establishing the Second Additional Space Commencement Date. 

  
 9 

 f. Notwithstanding anything to the contrary contained herein, within ten (10) days
prior to the Second Additional Space Commencement Date, upon reasonable prior notice to Landlord, Tenant shall be permitted to gain access to the Second Additional Space for the sole and exclusive purpose of installing customary telephone or
computer wiring covers on the partitions and walls in the Second Additional Space, provided and on condition that (i) at all times Tenant complies fully with, and such access shall be governed by and subject to, all terms, covenants and
conditions of the Lease, except that notwithstanding the access to the Second Additional Space afforded Tenant pursuant to this paragraph, Tenant shall not be responsible for the payment of Fixed Annual Rent or Additional Rent to Landlord with
respect to the Second Additional Space until the earlier of: (a) the Second Additional Space Commencement Date, or (b) the date upon which Tenant or anyone claiming through Tenant first occupies the Second Additional Space for the conduct
of business therein; and (ii) Tenant hereby indemnifies and agrees to defend and hold Landlord, its directors, officers, partners, members, employees, agents and representatives harmless from and against any claims, costs, expenses, damages and
liabilities whatsoever arising out of Tenant’s access to or presence at the Second Additional Space in connection with the access afforded Tenant pursuant to this paragraph; and (iii) Tenant shall repair promptly, at Tenant’s sole
cost and expense, in a good and workmanlike manner, using materials of a quality equal or superior to those which were damaged, and in accordance with the requirements of the Lease, any and all damage to the Second Additional Space or the Building
arising out of Tenant’s access to or presence at the Second Additional Space in connection with the access afforded Tenant pursuant to this paragraph; and (iv) in the event that the presence of Tenant, or anyone claiming through Tenant,
their respective agents, representatives or servants in the Second Additional Space in connection with the access afforded Tenant pursuant to this paragraph delays Landlord’s performance or completion of Landlord’s Work, then
Landlord’s time in which to Substantially Complete and thereafter complete such work shall be extended one (1) day for each day of such delay and Tenant’s obligations to commence payment of Fixed Annual Rent and Additional Rent (and
the commencement of any credits or abatements of rent to which Tenant may be otherwise entitled at the Second Additional Space Commencement Date) shall not be delayed as a result thereof; and (v) any conflicts in staging or scheduling between
(aa) Tenant’s work as permitted hereunder and (bb) Landlord’s performance or Substantial Completion of Landlord’s Work shall be resolved in each instance in favor of Landlord’s Work. Notwithstanding anything to the contrary
contained herein, Tenant’s mere presence in the Second Additional Space pursuant to this paragraph shall not be deemed Tenant’s acceptance of possession of the Second Additional Space for the purposes of establishing the Second Additional
Space Commencement Date. 
 7. Landlord’s Contribution 

a. Tenant shall have prepared by a registered architect and/or a licensed professional engineer, at its sole cost and expense, and submit to
Landlord for its approval in accordance with the applicable provisions of the Lease, final and complete dimensioned architectural, mechanical, electrical and structural drawings and specifications in a form ready for use as construction drawings
(“Tenant’s Plans”) for the installation of alterations, installations, decorations and improvements in the Second Additional Space to prepare the same for Tenant’s initial occupancy thereof (“Tenant’s Second
Additional Space Alteration Work”). Landlord hereby grants its approval to The Phillips Group (“TPG”) for retention by Tenant as the architect preparing Tenant’s Plans in accordance with the terms of the Lease subject,
however, to Landlord’s right to revoke such approval in the event that hereinafter there occurs any negative experience with TPG (in that they: (i) fail to prosecute work in a manner consistent with good business or trade practice,
(ii) default on their obligations to Landlord, Tenant or other tenants of the Building, or (iii) conduct themselves in an unprofessional or disreputable manner in or about the Building) or reasonable concerns regarding the financial
stability of, or any criminal proceedings pending against, TPG. All such construction plans and specifications and all such work shall be effected in accordance with all applicable provisions of the Lease, including, without limitation, Article 8,
at Tenant’s sole cost and expense. Simultaneously with the execution and delivery of this Agreement by Landlord to Tenant, Landlord shall furnish to Tenant as many copies of a Form ACP-5 for Tenant’s
Second Additional Space Alteration Work as are required by any governmental and quasi-governmental agencies and authorities having jurisdiction. In connection with any Tenant’s Second Additional Space Alteration Work, Landlord shall reasonably
cooperate with Tenant in connection with obtaining necessary permits for any Tenant’s Second Additional Space Alteration Work, which may include, without limitation, executing applications reasonably required by Tenant for such permits prior to
completion of Landlord’s review of Tenant’s Plans, provided that (i) execution of any such application by Landlord shall not constitute Landlord’s consent to Tenant’s Second Additional Space Alteration Work in question
(which consent shall still be required in accordance with all applicable provisions of the Lease, including, without limitation, Article 8, prior to the performance of any Tenant’s Second Additional Space Alteration Work), (ii) no such
application shall include a proposed change in the Certificate of Occupancy for the Building, and (iii) Tenant shall reimburse Landlord, within thirty (30) days after demand therefor, for all reasonable costs and expenses reasonably
incurred by Landlord in connection with Landlord’s cooperation in obtaining such permits. 

  
 10 

 b. If and so long as Tenant is not in monetary or material nonmonetary default under the
Lease after notice, (in which event Tenant’s rights under this Article shall be suspended until such time, if ever, as Tenant fully cures the default alleged in such notice, at which time Tenant’s rights hereunder shall be reinstated),
then subject to and in accordance with the provisions of this Section 7, Landlord shall contribute up to the sum of $555,115.00 (“Landlord’s Contribution”) to the cost of labor and materials for the portion of the
Tenant’s Second Additional Space Alteration Work which constitutes Qualified Renovations. “Qualified Renovations” shall be defined as: (i) the labor and materials used by Tenant to construct permanent leasehold
improvements and alterations to the Second Additional Space in compliance with the Lease after the date hereof and prior to the last day of the twenty-fourth (24th) calendar month following the
Second Additional Space Commencement Date and (ii) up to but not exceeding the sum of $111,023.00 of Landlord’s Contribution may be applied towards the Soft Costs (as defined below) incurred in connection therewith. Without limitation, for
purposes of this Article, Qualified Renovations shall be deemed not to include and Landlord’s Contribution shall not be applied to the cost of interest, late charges, trade fixtures, furniture, furnishings, moveable business equipment or any
personal property whatsoever, or to the cost of labor, materials or services used to furnish or provide the same. For the purposes hereof, the term “Soft Costs” shall mean the cost of architectural, planning, engineering and filing
fees, equipment, workstations, related cabinetry, and/or work surfaces (whether or not affixed to walls and/or convector covers), incurred in connection with the performance of Tenant’s Second Additional Space Alteration Work. 

c. “Requisition” shall mean a request by Tenant for payment from Landlord for Qualified Renovations and shall consist of such
documents and information from Tenant as Landlord may require to substantiate the completion of, and payment for, such Qualified Renovations to which the Requisition relates (the “Work Cost”) and shall include, without limitation,
the following: an itemization of Tenant’s total construction costs, detailed by contractor, subcontractors, vendors and materialmen; bills, receipts, lien waivers and releases from all contractors, subcontractors, vendors and materialmen;
architects’ and Tenant’s certification of completion, payment and acceptance, and all governmental approvals and confirmations of completion for the portion of the Tenant’s Second Additional Space Alteration Work theretofore completed
and for which Tenant seeks payment. 

  
 11 

 d. From
time-to-time, but not more than once in any calendar month during the term, Tenant may give Landlord a Requisition for so much of the Work Cost as arose since the end of
the period to which the most recent prior Requisition related, or, with respect to the first Requisition, for the initial Work Cost. 
 e.
If Tenant is not in monetary or material non-monetary default under the Lease after notice, (in which event Tenant’s rights under this Article shall be suspended until such time, if ever, as Tenant fully
cures the default alleged in such notice, at which time Tenant’s rights hereunder shall be reinstated), and provided that all documents and information required by Landlord have been provided, within thirty (30) days after Landlord
receives a Requisition, Landlord shall pay Tenant ninety percent (90%), of the Work Cost reflected in such Requisition and shall withhold the remaining ten percent (10%) of Work Cost (the “Retainage”): and provided that Tenant is
not in monetary or material non-monetary default under the Lease after notice, (in which event Tenant’s rights under this Article shall be suspended until such time, if ever, as Tenant fully cures the
default alleged in such notice, at which time Tenant’s rights hereunder shall be reinstated), within thirty (30) days after Tenant furnishes Landlord with (x) a final, stamped set of
“as-built” plans for the Second Additional Space which demonstrates that Tenant’s Second Additional Space Alteration Work has been completed in accordance with plans and specifications first
approved by Landlord and (y) its final Requisition which demonstrates that Tenant’s Second Additional Space Alteration Work has been completed and paid for in full by Tenant and (z) all documents and information required by Landlord
including, without limitation, final approvals and “sign offs” from all governmental and quasi-governmental agencies and authorities having jurisdiction, Landlord shall pay Tenant all the Retainages. 

f. It is expressly understood and agreed that if the amount of Landlord’s Contribution is less than the cost of Tenant’s Second
Additional Space Alteration Work, Tenant shall remain solely responsible for the payment and completion of, and in all events shall complete, at its sole cost and expense, Tenant’s Second Additional Space Alteration Work on or before the last
day of the twenty-fourth (24th) calendar month following the Second Additional Space Commencement Date. Any portion of Landlord’s Contribution not disbursed shall be retained by Landlord.

 8. Successors and Assigns 

This Agreement shall be binding upon and inure to the benefit of the parties and their respective successors and permitted assigns. 

  
 12 

 9. Entire Agreement. 

The Lease, as modified by this Agreement, represents the entire understanding between the parties with regard to the matters addressed herein
and may only be modified by a written agreement executed by all parties hereto. All prior understandings or agreements between the parties hereto, oral or written, with regard to the matters addressed herein, other than the Lease, are hereby merged
herein. Tenant acknowledges that neither Landlord nor any representative or agent of Landlord has made any representation or warranty, express or implied, as to the physical condition, state of repair, layout, footage or use of the Second Additional
Space or any matter or thing affecting or relating to the Second Additional Space except as specifically set forth in this Agreement. Tenant has not been induced by and has not relied upon any statement, representation or agreement, whether express
or implied, not specifically set forth in this Agreement. Landlord shall not be liable or bound in any manner by any oral or written statement, broker’s “set-up,” representation, agreement or
information pertaining to the Second Additional Space or this Agreement furnished by any real estate broker, agent, servant, employee or other person, unless specifically set forth herein, and no rights are or shall be acquired by Tenant by
implication or otherwise unless expressly set forth herein. 
 10. Effectiveness. 

Landlord and Tenant agree that this Agreement is submitted to Tenant on the understanding that it shall not be considered an offer and shall
not bind Landlord in any way unless and until: (i) Tenant has duly executed and delivered duplicate originals hereof to Landlord; and (ii) Landlord has executed and delivered one of said originals to Tenant. 

11. Ratification. 
 Except
as specifically modified herein, all other terms, covenants and conditions of the Lease are and shall remain in full force and effect and are hereby ratified and confirmed. 

12. No Brokers/Indemnification. 

a. Tenant covenants, represents and warrants that Tenant has had no dealings or negotiations with any broker or agent in connection with the
consummation of this Agreement other than SL Green Leasing LLC and Cushman & Wakefield, Inc. (collectively, the “Brokers”) and Tenant covenants and agrees to defend, hold harmless and indemnify Landlord from and against any
and all cost, expense (including reasonable attorneys’ fees) or liability for any compensation, commissions or charges claimed by any broker or agent (other than the Brokers) with respect to this Agreement or the negotiation thereof. 

b. Landlord covenants, represents and warrants that Landlord has had no dealings or negotiations with any broker or agent in connection with
the consummation of this Agreement other than the Brokers, and Landlord covenants and agrees to defend, hold harmless and indemnify Tenant from and against any and all cost, expense (including reasonable attorneys’ fees) or liability for any
compensation, commissions or charges claimed by any broker or agent, including Brokers, with whom Landlord has dealt with respect to this Agreement or the negotiation thereof. Landlord agrees to pay any commissions due the Brokers in connection with
this Agreement, pursuant to a separate agreement(s). 

  
 13 

 13. Miscellaneous. 

a. The captions in this Agreement are for convenience of reference only and are not to be considered in construing this Agreement. 

b. This Agreement shall be construed without regard to any presumption or other rule requiring construction against the party causing this
Agreement to be drafted. 
 c. Terms used in this Agreement and not otherwise defined herein shall have the respective meanings ascribed
thereto in the Lease. 
 d. If any provision of this Agreement or its application to any person or circumstances is invalid or unenforceable
to any extent, the remainder of this Agreement, or the applicability of such provision to other persons or circumstances, shall be valid and enforceable to the fullest extent permitted by law and shall be deemed to be separate from such invalid or
unenforceable provisions and shall continue in full force and effect. 

  
 14 

 IN WITNESS WHEREOF, Landlord and Tenant have duly executed this Agreement as of the
date first above written. 
  

									
	LANDLORD:	 		 	SLG TOWER 45 LLC, as Landlord
					
		 		 		 	By:	 	 /s/ Steven M. Durels

	Witness:	 		 		 	Name: Steven M. Durels
		 		 		 		 	Title: Executive Vice President 

	By:	 	  
	 		 		 	   Director of Leasing and Real Property

		 	Name:	 		 		 	
			
	TENANT:	 		 	SCHRÖDINGER, INC., as Tenant
					
		 		 		 	By:	 	 /s/ Ramy Farid

		 		 		 		 	Name: Ramy Farid
	Witness:	 		 		 	Title: President
					
	By:	 	  
	 		 		 	
		 	Name:	 		 		 	

  
 15 

 EXHIBIT A 

Floor Plan of the Second Additional Space 
  

 

  
 16 

 EXHIBIT B 

SECOND ADDITIONAL SPACE FIXED ANNUAL RENT SCHEDULE 
  

					
	
Period
  
	  	
Fixed Annual Rent
  
	  	
Monthly Installment
  

	from the Second Additional Space Rent Commencement Date through & including the day
immediately preceding the fifth (5th) anniversary thereof;	  	$454,185.00	  	$37,848.75
	from the fifth (5th) anniversary of the Second
Additional Space Rent Commencement Date through and including the Expiration Date.	  	$504,650.00	  	$42,054.17

  
 17 

 EXHIBIT C 

Landlord’s Work 
 Landlord shall
perform the following, which shall constitute Landlord’s Work, subject to and in accordance with the terms, covenants and conditions of this Agreement and the Lease. 
  

	 	1.	 Demolish the existing build-out in the Second Additional Space and
deliver the Second Additional Space in broom clean condition; 

  

	 	2.	 Install a temporary sprinkler loop within the Second Additional Space; 

 

	 	3.	 Provide sufficient points of contact in order for Tenant to connect the Second Additional Space to
Landlord’s Class E fire safety system in compliance with applicable local laws, codes, rules and regulations as they shall apply to normal office use; 

 

	 	4.	 Repair and/or replace convector covers, as necessary, within the Second Additional Space;

  

	 	5.	 Level, scrape and patch existing floors within the Second Additional Space Alteration Work in order to remove
significant imperfections (consistent with industry standards); 

  

	 	6.	 Perform such work as may be necessary in order to render the Building systems serving the Second Additional
Space in working order; 

  

	 	7.	 Repair or replace, as necessary, fireproofing materials at the Second Additional Space; 

 

	 	8.	 Renovate the existing men’s and ladies’ bathrooms located on the eighth (8th) floor of the Building
using Building standard materials and finishes; 

  

	 	9.	 Install one (1) unisex bathroom on the eighth (8th) floor of the Building that is compliant with the
Americans With Disabilities Act, using Building standard materials and finishes; 

  

	 	10.	 Provide access within the Second Additional Space to domestic water supply for Tenant’s use and
distribution; 

  

	 	11.	 Prepare existing electrical service panels in the existing electrical closets within the Second Additional
Space for Tenant’s distribution electrical service to the Second Additional Space; 

  

	 	12.	 Sheetrock and finish the corridor, perimeter, walls, columns, and elevator lobby of the Second Additional
Space. 

  
 18 

 THIRD LEASE MODIFICATION AND ADDITIONAL SPACE AGREEMENT 

THIRD LEASE MODIFICATION AND ADDITIONAL SPACE AGREEMENT (this “Agreement”) dated as of November 20, 2014 by and between
SLG TOWER 45 LLC, having an office c/o SL Green Realty Corp., 420 Lexington Avenue, New York, New York (hereinafter referred to as “Landlord”) and SCHRÖDINGER, INC., a Delaware corporation having an office at 120 West 45th Street, 17th floor, New York, New York 10036 (hereinafter referred to as “Tenant”). 

WITNESSETH: 

WHEREAS, Landlord and Tenant (which the parties agree was erroneously referenced as Schrodinger, Inc. in the Lease, as hereinafter
defined) entered into that certain lease agreement dated as of July 8, 2009 (the “Original Lease”) covering certain premises located on and comprising the entire rentable portion of the seventeenth (17th) floor (the “Original Premises”) as more particularly described in said Original Lease in the building known as and located at 120 West 45th Street, New York, New York (the “Building”), for a term set to expire on January 31, 2020 (the “Expiration Date”), which Original Lease was thereafter modified
by that certain Lease Modification And Additional Space Agreement, dated as of April 7, 2011 (the “First Modification”), wherein, inter alia, Tenant added to the Original Premises that certain space on the sixteenth (16th) floor (the “First Additional Space”), of the Building, under the terms and conditions contained in the Original Lease as modified by the First Modification; and which Original
Lease was thereafter further modified by that certain Second Lease Modification And Additional Space Agreement, dated as of August 12, 2013 (the “Second Modification”), wherein, inter alia, Tenant added to the Original
Premises and the First Additional Space that certain space on the eighth (8th) floor (the “Second Additional Space”), of the Building, under the terms and conditions contained in
the Original Lease as modified by the Second Modification; (the Original Premises, First Additional Space and Second Additional Space, are hereinafter referred to collectively as the “Existing Premises”); (said Original Lease, as so
modified by the First Modification and the Second Modification, is hereinafter referred to collectively as the “Lease”), under the terms and conditions contained therein; and 

WHEREAS, Tenant wishes to add to the Existing Premises a portion of the sixteenth
(16th) floor in the Building, designated as suite 1605 approximately as indicated by hatch marks on the location plan attached hereto and made a part hereof as Exhibit A (the “Third
Additional Space”), for a term to commence as of November 14, 2014, subject to Section 1(a)(ii) of this Agreement (hereinafter, the “Third Additional Space Commencement Date”) and to expire on August 31, 2021
(the “T/F Additional Space Expiration Date”); and 
 WHEREAS, Tenant wishes to also add to the Existing Premises and
the Third Additional Space a portion of the sixteenth (16th) floor in the Building, designated as suite 1610 approximately as indicated by hatch marks on the location plan attached hereto and made
a part hereof as Exhibit B (the “Fourth Additional Space”), for a term to commence as of October 1, 2015, subject to Section 1(b)(ii) of this Agreement (hereinafter, the “Fourth Additional
Space Commencement Date”) and to expire on the T/F Additional Space Expiration Date (as defined, above); (the Existing Premises, Third Additional Space and Fourth Additional Space being hereinafter sometimes collectively referred to as the
“Premises”, and from and after the Fourth Additional Space Commencement Date the First Additional Space, Third Additional Space and Fourth Additional Space, shall comprise approximately the area set forth on the location plan
attached hereto and made a part hereof as Exhibit F); and 

 WHEREAS, subject to and in accordance with the terms, covenants and conditions of
this Agreement, Landlord has agreed to permit Tenant to add the Third Additional Space and the Fourth Additional Space to the Existing Premises; and 

WHEREAS, Landlord and Tenant wish to modify the Lease as set forth below. 

NOW, THEREFORE, in consideration of the mutual agreements herein contained and other good and valuable consideration, the
receipt and sufficiency of which is hereby acknowledged, the parties hereby agree as follows: 
 1. Term. 

a. The Third Additional Space. 

(i) The Third Additional Space only is hereby added to the Existing Premises effective as of the Third Additional Space Commencement Date
under all of the terms, covenants and conditions of the Lease, except to the extent expressly modified herein, for a term commencing on the Third Additional Space Commencement Date and with respect to the Third Additional Space, ending on the T/F
Additional Space Expiration Date or on such earlier date upon which the term of the Lease shall expire, be canceled or terminated pursuant to any of the terms, covenants or conditions of the Lease or pursuant to law. 

(ii) Notwithstanding anything to the contrary contained in the Lease, as modified by this Agreement, Tenant acknowledges that it has been
informed by Landlord that the Third Additional Space is presently occupied by an existing tenant of the Building, City National Bank (the “Existing Tenant”), under a separate lease agreement (the “Existing Lease”)
which is to expire by its terms on August 31, 2021. Tenant further acknowledges that it has been informed by Landlord that the Existing Tenant has advised Landlord that it may be willing to vacate and surrender to Landlord possession of the
Third Additional Space prior to the Third Additional Space Commencement Date. Landlord and Tenant agree that if the Existing Tenant does not vacate the Third Additional Space on or before the Third Additional Space Commencement Date and, as a
result, Landlord shall be unable to deliver possession of the Third Additional Space to Tenant as required by the terms of this Agreement, then (A) Landlord shall not be subject to any liability for such failure, and (B) the Lease, as
modified by this Agreement, shall remain in full force and effect without extension of the term with respect to the Third Additional Space, however, Tenant’s obligation to pay Fixed Annual Rent and Additional Rent with respect to the Third
Additional Space shall not commence and any rent credits or abatements to which Tenant is entitled under this Agreement with respect to the Third Additional Space only shall be similarly delayed, until possession of the Third Additional Space is
delivered to Tenant in the condition required by this Agreement. In such event, upon Landlord’s recovery of actual and lawful possession of the Third Additional Space, free of occupants therein, but otherwise in its then as-is condition, Landlord shall furnish Tenant with prompt notice thereof and deliver possession to Tenant in the condition required by this Agreement promptly thereafter. Except to the extent otherwise provided for
by the express terms located elsewhere in this Agreement, Tenant expressly waives any right to rescind the Lease and this Agreement under Section 223-a of the New York Real Property Law or under any
present or future statute of similar import then in force and further expressly waives the right to recover any damages, direct or indirect, which may result from Landlord’s failure to deliver possession of the Third Additional Space in
accordance with the terms of this Agreement. Tenant agrees that the provisions of this Subsection are intended to constitute “an express provision to the contrary” within the meaning of said
Section 223-a. 

  
 2 

 (iii) In addition to the provisions of Section 1a(ii) of this Agreement, in the event
that Landlord shall be unable to deliver to Tenant possession of the Third Additional Space in the condition required by the terms of this Agreement, on or before January 1, 2015, then as and for Tenant’s sole and exclusive remedy (other
than and in addition to those abatements of Fixed Annual Rent provided for in Section 2a(ii) of this Agreement), then Tenant shall accrue an abatement of Fixed Annual Rent for the Third Additional Space from and after January 1, 2015
through and including the date that Landlord delivers possession of the Third Additional Space, at the rate of one (1) day for each day of delay in Landlord’s delivery of possession of the Third Additional Space until such time as Landlord
delivers to Tenant possession of the Third Additional Space in the condition required by the terms of this Agreement, which abatement shall be applied to the monthly installments of Fixed Annual Rent accruing under the Lease, as modified by this
Agreement, immediately after the application and expiration of those abatements of Fixed Annual Rent provided for in Section 2a(ii) of this Agreement. 

b. The Fourth Additional Space. 

(i) The Fourth Additional Space only is hereby added to the Existing Premises effective as of the Fourth Additional Space Commencement Date
under all of the terms, covenants and conditions of the Lease, except to the extent expressly modified herein, for a term commencing on the Fourth Additional Space Commencement Date and, with respect to the Fourth Additional Space, ending on the T/F
Additional Space Expiration Date or on such earlier date upon which the term of the Lease shall expire, be canceled or terminated pursuant to any of the terms, covenants or conditions of the Lease or pursuant to law. 

(ii) Notwithstanding anything to the contrary contained in the Lease, as modified by this Agreement, Tenant acknowledges that it has been
informed by Landlord that the Fourth Additional Space is presently occupied by an existing tenant of the Building (the “Existing Tenant”), under a separate lease agreement (the “Existing Lease”) which is to expire
by its terms on September 30, 2015. Landlord and Tenant agree that if the Existing Tenant does not vacate the Fourth Additional Space on or before the Fourth Additional Space Commencement Date and, as a result, Landlord shall be unable to
deliver possession of the Fourth Additional Space to Tenant as required by the terms of this Agreement, then (A) Landlord shall not be subject to any liability for such failure, (B) the Lease, as modified by this Agreement, shall remain in
full force and effect as to the Existing Premises and, if then added in accordance with the terms of This Agreement, the Third Additional Space, without extension of the term with respect to the Fourth Additional Space, however, Tenant’s
obligation to pay Fixed Annual Rent and Additional Rent with respect to the Fourth Additional Space shall not commence and any rent credits or abatements to which Tenant is entitled under this Agreement with respect to the Fourth Additional Space
only shall be similarly delayed, until possession of the Fourth Additional Space is delivered to Tenant in the condition required by this Agreement; and (C) Landlord shall promptly commence and diligently prosecute to completion the appropriate
summary proceedings, as appropriate, in order to evict the Existing Tenant holding over in the Fourth Additional Space and to recover lawful possession thereof. In such event, upon Landlord’s recovery of actual and lawful possession of the
Fourth Additional Space, free of occupants therein, but otherwise in its then as-is condition, Landlord shall furnish Tenant with prompt notice thereof and deliver possession to Tenant in the condition
required by this Agreement promptly thereafter. Except to the extent otherwise provided for by express terms located elsewhere in this Agreement, Tenant expressly waives any right to rescind the Lease and this Agreement under Section 223-a of the New York Real Property Law or under any present or future statute of similar import then in force and further expressly waives the right to recover any damages, direct or indirect, which
may result from Landlord’s failure to deliver possession of the Fourth Additional Space in accordance with the terms of this Agreement. Tenant agrees that the provisions of this Subsection are intended to constitute “an express provision
to the contrary” within the meaning of said Section 223-a. 

  
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 (iii) In addition to the provisions of Section 1b(ii) of this Agreement, in the event
that Landlord shall be unable to deliver to Tenant possession of the Fourth Additional Space in the condition required by the terms of this Agreement, on or before February 1, 2016, then as and for Tenant’s sole and exclusive remedy (other
than and in addition to those abatements of Fixed Annual Rent provided for in Section 2b(ii) of this Agreement), then Tenant shall accrue an abatement of Fixed Annual Rent for the Fourth Additional Space from and after February 1, 2016
through and including the date that Landlord delivers possession of the Fourth Additional Space, at the rate of one (1) day for each day of delay in Landlord’s delivery of possession of the Fourth Additional Space until such time as
Landlord delivers to Tenant possession of the Fourth Additional Space in the condition required by the terms of this Agreement, which abatement shall be applied to the monthly installments of Fixed Annual Rent accruing under the Lease, as modified
by this Agreement, immediately after the application and expiration of those abatements of Fixed Annual Rent provided for in Section 2b(ii) of this Agreement. 

c. The First Additional Space. 

From and after the Third Additional Space Commencement Date, the term of the Lease with respect to the First Additional Space only, shall be
extended under all of the terms, covenants and conditions of the Lease, except to the extent expressly modified herein, for a term ending on the T/F Additional Space Expiration Date or on such earlier date upon which the term of the Lease shall
expire, be canceled or terminated pursuant to any of the terms, covenants or conditions of the Lease or pursuant to law. 
 2. Fixed
Annual Rent. 
 a. The Third Additional Space. 

(i) Effective as of the Third Additional Space Commencement Date, with respect to the Third Additional Space only, the Lease shall be amended
to provide that in addition to Tenant’s obligation to pay Fixed Annual Rent for the Existing Premises, Tenant shall also pay Fixed Annual Rent with respect to the Third Additional Space (hereinafter, sometimes “Third Additional Space
Fixed Annual Rent”) at the rates set forth in the schedule annexed hereto and made a part hereof as Exhibit C. 

  
 4 

 (ii) Subject to the provisions hereof, if and so long as Tenant is not then in monetary or
material non-monetary default under the Lease after notice, (in which event Tenant’s rights under this Subsection shall be suspended until such time, if ever, as Tenant fully cures the default alleged in
such notice, at which time Tenant’s rights hereunder shall be reinstated): the first three (3) monthly installments of Fixed Annual Rent (without electricity) accruing under the Lease, as modified by this Agreement, with respect to the
Third Additional Space only shall be abated by the sum of $12,940.00 per month (for a total abatement of $38,820.00). The day immediately following the application of all abatements to which Tenant is entitled pursuant to the provisions of this
Subsection 2a(ii) shall hereinafter be referred to as the “Third Additional Space Rent Commencement Date”. 
 b. The
Fourth Additional Space. 
 (i) Effective as of the Fourth Additional Space Commencement Date, with respect to the Fourth Additional
Space only, the Lease shall be amended to provide that in addition to Tenant’s obligation to pay Fixed Annual Rent for the Existing Premises, and if the Third Additional Space is then added in accordance with the terms of this Agreement, the
Third Additional Space Fixed Annual Rent, Tenant shall also pay Fixed Annual Rent with respect to the Fourth Additional Space (hereinafter, sometimes “Fourth Additional Space Fixed Annual Rent”) at the rates set forth in the
schedule annexed hereto and made a part hereof as Exhibit D. 
 (ii) Subject to the provisions hereof, if and so long as Tenant is not then
in monetary or material non-monetary default under the Lease after notice, (in which event Tenant’s rights under this Subsection shall be suspended until such time, if ever, as Tenant fully cures the
default alleged in such notice, at which time Tenant’s rights hereunder shall be reinstated): (A) the first six (6) monthly installments of Fixed Annual Rent (without electricity) accruing under the Lease, as modified by this Agreement,
with respect to the Fourth Additional Space only shall be abated by the sum of $29,720.17 per month (for a total abatement of $178,321.00). The day immediately following the application of all abatements to which Tenant is entitled pursuant to the
provisions of this Subsection 2b(ii) shall hereinafter be referred to as the “Fourth Additional Space Rent Commencement Date”; and (B) Tenant may elect to convert up to two (2) monthly installments of the abated Fixed
Annual Rent only referenced in this Subsection 2b(ii) (the amount set forth in Tenant’s Abatement Relinquishment Notice (as hereinafter defined) is hereinafter the “Relinquished Abatement”) and have Landlord add the
Relinquished Abatement to Landlord’s Fourth AS Contribution referenced in Subsection 7(b)(ii), below, by delivering written notice of such election to Landlord on or prior to the one hundred twentieth (120th) day following the Fourth Additional Space Commencement Date (“Tenant’s Abatement Relinquishment Notice”). Time is of the essence with respect to the giving of the
Tenant’s Abatement Relinquishment Notice. In the event that Tenant timely and properly delivers Tenant’s Abatement Relinquishment Notice to Landlord, and Tenant is eligible to do so pursuant to the above provisions of this Subsection
2b(ii), the abated Fixed Annual Rent referenced in this Subsection 2b(ii) shall be reduced by the Relinquished Abatement and, except as otherwise expressly set forth in this Agreement, Tenant shall have no further claim to the Relinquished
Abatement, or to any credit, set-off or further abatement, or to terminate the Lease on account thereof, and Landlord’s Fourth AS Contribution referenced in Subsection 7(b)(ii), below, shall be increased
and thereafter deemed to include the Relinquished Abatement, which shall be subject to all applicable provisions of Section 7 of this Agreement. 

  
 5 

 c. The First Additional Space. 

Effective as of January 30, 2020, with respect to the First Additional Space only, the Lease shall be amended to provide that in addition
to Tenant’s obligation to pay Fixed Annual Rent for the Third Additional Space and the Fourth Additional Space, Tenant shall also pay Fixed Annual Rent with respect to the First Additional Space (hereinafter, sometimes “First Additional
Space Fixed Annual Rent”) at the rates set forth in the schedule annexed hereto and made a part hereof as Exhibit E. 
 3. Real
Estate Tax Escalations. 
 a. The Third Additional Space. Effective as of the Third Additional Space Commencement Date, with
respect to the Third Additional Space only: 
 (i) For purposes of Article 32.01(a) of the Lease, the reference at line two (2) thereof
to “12,919” is hereby replaced with “3,235”. 
 (ii) For purposes of Article 32.01(b)(i) of the Lease, the reference at
line two (2) thereof to “two and ninety-five hundredths percent (2.95%)” is hereby replaced with “zero and seventy-four hundredths percent (0.74%)”. 

(iii) For purposes of Article 32.01(b)(iii) of the Lease the “Base Tax Year” shall mean the average of the Real Estate Taxes
payable for: (x) the New York City real estate fiscal tax year commencing on July 1, 2014 through June 30, 2015, and (y) the New York City real estate tax year commencing on July 1, 2015 through June 30, 2016”.

 b. The Fourth Additional Space. Effective as of the Fourth Additional Space Commencement Date, with respect to the Fourth
Additional Space only: 
 (i) For purposes of Article 32.01(a) of the Lease, the reference at line two (2) thereof to
“12,919” is hereby replaced with “6,149”. 
 (ii) For purposes of Article 32.01(b)(i) of the Lease, the reference at
line two (2) thereof to “two and ninety-five hundredths percent (2.95%)” is hereby replaced with “one and forty hundredths percent (1.40%)”. 

(iii) For purposes of Article 32.01(b)(iii) of the Lease the “Base Tax Year” shall mean the average of the Real Estate Taxes
payable for: (x) the New York City real estate fiscal tax year commencing on July 1, 2015 through June 30, 2016, and (y) the New York City real estate tax year commencing on July 1, 2016 through June 30, 2017”.

  
 6 

 4. Operating Expense Escalations. 

a. The Third Additional Space. Effective as of the Third Additional Space Commencement Date, with respect to the Third Additional Space
only: 
 (i) For purposes of Article 49.02(i) of the Lease, the reference at line two (2) thereof to “2010” is hereby
replaced with “2015”. 
 (ii) For purposes of Article 49.02(i) of the Lease, the reference at line four (4) thereof to
“2008, 2009 and 2010” is hereby replaced with “2013, 2014 and 2015”. 
 (iii) For purposes of Article 49.02(ii) of the
Lease, the reference at line two (2) thereof to “three and five hundredths (3.05%) percent” is hereby replaced with “zero and seventy-six hundredths (0.76%) percent”. 

(iv) For purposes of Article 49.02(ii) of the Lease, the reference at line seven (7) thereof to “12,919” is hereby replaced
with “3,235”. 
 (v) For purposes of Article 49.02(iv) of the Lease, the reference at line four (4) thereof to “January
1, 2011” is hereby replaced with “January 1, 2016”. 
 b. The Fourth Additional Space. Effective as of the Fourth
Additional Space Commencement Date, with respect to the Fourth Additional Space only: 
 (i) For purposes of Article 49.02(i) of the Lease,
the reference at line two (2) thereof to “2010” is hereby replaced with “2016”. 
 (ii) For purposes of Article
49.02(i) of the Lease, the reference at line four (4) thereof to “2008, 2009 and 2010” is hereby replaced with “2014, 2015 and 2016”. 

(iii) For purposes of Article 49.02(ii) of the Lease, the reference at line two (2) thereof to “three and five hundredths (3.05%)
percent” is hereby replaced with “one and forty-four hundredths (1.44%) percent”. 
 (iv) For purposes of Article 49.02(ii)
of the Lease, the reference at line seven (7) thereof to “12,919” is hereby replaced with “6,149”. 
 (v) For
purposes of Article 49.02(iv) of the Lease, the reference at line four (4) thereof to “January 1, 2011” is hereby replaced with “January 1, 2017”. 

5. Miscellaneous Lease Modifications. 

a. Additional Security. 

(i) Upon execution of this Agreement, Tenant shall deposit with Landlord the sum of $77,640.00 (the “Second Additional
Security”) which shall be held by Landlord in addition to the $709,203.25 of Security presently held by Landlord as additional security for the performance of Tenant’s obligations accruing under the Lease, as modified by this
Agreement. The Second Additional Security shall be held and applied by Landlord in accordance with the provisions of Article 31 of the Lease; provided, however, the provisions of Article 31.02 shall not apply to the Second Additional Security and
the Second Additional Security shall not be subject to any reduction as provided for therein with respect to the Security originally posted by Tenant thereunder. 

  
 7 

 (ii) Within thirty (30) days prior to the Fourth Additional Space Commencement Date,
subject to Section 1(b)(ii) of this Agreement, Tenant shall deposit with Landlord the sum of $178,321.00 (the “Third Additional Security”) which shall be held by Landlord in addition to the $709,203.25 of Security presently
held by Landlord, and the Second Additional Security, as additional security for the performance of Tenant’s obligations accruing under the Lease, as modified by this Agreement. The $709,203.25 of Security presently held by Landlord, the Second
Additional Security and the Third Additional Security shall be held and applied by Landlord in accordance with the provisions of Article 31 of the Lease; provided, however, the provisions of Article 31.02 shall not apply to the Third Additional
Security and the Third Additional Security shall not be subject to any reduction as provided for therein with respect to the Security originally posted by Tenant thereunder. 

b. Electricity. 
 (i)
The Third Additional Space Only. Commencing as of the Third Additional Space Commencement Date and ending on the day immediately preceding the Fourth Additional Space Commencement Date, with respect to the Third Additional Space only,
Article 41 of the Lease is hereby deleted in its entirety and replaced with the following: 
 41.01 Tenant acknowledges
and agrees that electric service shall be supplied by Landlord to the Third Additional Space on a “rent inclusion basis” in accordance with the provisions of this Article 41. 

41.02 Electricity and electric service, as used herein, shall mean any element affecting the generation, transmission, and/or
distribution or redistribution of electricity, including but not limited to services which facilitate the distribution of service. 

41.03 If and so long as Landlord provides electricity to the Third Additional Space on a rent inclusion basis, Tenant agrees
that the Fixed Annual Rent shall be increased by the amount of the Electricity Rent Inclusion Factor (“ERIF”), as hereinafter defined. Tenant acknowledges and agrees (i) that the Fixed Annual Rent hereinabove set forth in this
Lease does not yet, but is to include an ERIF of $3.25 per rentable square foot to compensate Landlord for electrical wiring and other installations necessary for, and for its obtaining and making available to Tenant the redistribution of electric
current as an additional service, which shall be paid for by Tenant in accordance with provisions hereof; and (ii) that said ERIF shall be subject to periodic adjustments as hereinafter provided. For purposes of this Article, the rentable
square foot area of the Third Additional Space shall be deemed to be 3,235 rentable square feet. 

  
 8 

 41.04 The parties agree that a reputable, independent electrical consultant
firm, selected by Landlord, (“Landlord’s Electrical Consultant”), may from time to time, make surveys in the Third Additional Space of the electrical equipment and fixtures and use of current, provided, however, Landlord’s
Electrical Consultant shall only make any such survey of the Third Additional Space if in Landlord’s reasonable judgment Tenant’s consumption of electricity in the Third Additional Space is greater than an average demand load of six
(6) watts of electricity per rentable square foot of the Third Additional Space for all purposes, exclusive of the Existing HVAC Equipment (as hereinafter defined in Section 5(d)(i)(A), below). If the cost to Landlord under the SC-4 Rate I Service Classification (“Landlord’s Service Classification”) in effect on the date of such survey (or the comparable rate schedule of any service provider other than Con Ed then
providing electrical service to the building as same shall be in effect on the date of such survey), for the electrical load and usage of electricity reflected on such survey shall exceed the aforesaid ERIF portion of the Fixed Annual Rent, then
effective as of the date of said survey, the ERIF portion of Fixed Annual Rent (computed and fixed as hereinbefore described) shall be increased to amount equal to what Landlord would pay for such electrical load and usage under Landlord’s
Service Classification (which ERIF shall be increased by all electricity cost changes of Landlord, as hereinabove provided, from the Third Additional Space Commencement Date through the date of billing). 

41.05 In no event, whether because of surveys, rates or cost changes, or for any reason, is the originally specified $3.25 per
rentable square foot ERIF portion of the Fixed Annual Rent to be reduced. 
 41.06 The determinations by Landlord’s
Electrical Consultant shall be binding and conclusive on Landlord and Tenant from and after the delivery of copies of such determinations to Landlord and Tenant, unless, within ninety (90) days after delivery thereof, Tenant disputes such
determination. If Tenant so disputes the determination, it shall, at its own expense, obtain from a reputable, independent electrical consultant its own determinations in accordance with the provisions of this Article. Tenant’s consultant and
Landlord’s consultant then shall seek to agree. If they cannot agree within thirty (30) days they shall choose a third reputable electrical consultant, whose cost shall be shared equally by the parties, to make similar determinations which
shall be controlling. (If they cannot agree on such third consultant within ten (10) days, than either party may apply to the Supreme Court in the County of New York for such appointment.) However, pending such controlling determinations Tenant
shall pay to Landlord the amount of Additional Rent or ERIF in accordance with the determinations of Landlord’s Electrical Consultant. If the controlling determinations differ from Landlord’s Electrical Consultant, then the parties shall
promptly make adjustment for any deficiency owed by Tenant or overage paid by Tenant. 
 41.07 If any tax is imposed upon
Landlord’s receipt from the sale, resale or redistribution of electricity or gas or telephone service to Tenant by any Federal, State, or Municipal authority, Tenant covenants and agrees that where permitted by law, Tenant’s pro-rata share of such taxes shall be passed on to and included in the bill of, and paid by, Tenant to Landlord. 

  
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 41.08 If all or part of the ERIF payable in accordance with
Article 41.03 or 41.04 of this Article becomes uncollectible or reduced or refunded by virtue of any law, order or regulations, the parties agree that, at Landlord’s option, in lieu of ERIF, and in consideration of Tenant’s use of the
Building’s electrical distribution system and receipt of redistributed electricity and payment by Landlord of consultant’s fees and other redistribution costs, the Fixed Annual Rental rate(s) to be paid under this Lease with respect to the
Third Additional Space shall be increased by an “alternative charge” which shall be a sum equal to $3.25 per year per rentable square foot of the Third Additional Space. 

41.09 Landlord shall not be liable to Tenant for any loss or damage or expense which Tenant may sustain or incur if either the
quantity or character of electric service is changed or is no longer available or suitable for Tenant’s requirements, except in the case where same results from the negligence or willful misconduct of Landlord, its employees, agents or
contractors, in which event, however, under no circumstances shall Landlord be liable for any consequential or special damages. Tenant covenants and agrees that at all times its use of electric current shall never exceed the capacity of existing
feeders to the Building or wiring installations. Any riser or risers to supply Tenant’s additional electrical requirements in the Third Additional Space, upon written request of Tenant, will be installed by Landlord, at the sole cost and
expense of Tenant, if, in Landlord’s sole but reasonable judgment, the same are necessary and will not cause permanent damage or injury to the Building or the Third Additional Space or cause or create a dangerous or hazardous condition or
entail excessive or unreasonable alterations, repairs or expense or interfere with or disturb other tenants or occupants. In addition to the installation of such riser or risers, Landlord will also at the sole cost and expense of Tenant, install all
other equipment proper and necessary in connection therewith subject to the aforesaid terms and conditions. The parties acknowledge that they understand that it is anticipated that electric rates, charges, etc., may be changed by virtue of time-of-day rates or changes in other methods of billing, and/or electricity purchases and the redistribution thereof, and fluctuation in the market price of electricity, and
that the references in the foregoing paragraphs to changes in methods of or rules on billing are intended to include any such changes. Anything hereinabove to the contrary notwithstanding, in no event is the ERIF, or any “alternative
charge”, to be less than an amount equal to the total of Landlord’s payments to public utilities and/or other providers for the electricity consumed by Tenant (and any taxes thereon or on redistribution of same). The Landlord reserves the
right, at any time upon thirty (30) days’ written notice, to change to the distribution of less than all the components of the existing service to Tenant. The Landlord reserves the right to terminate the furnishing of electricity on a rent
inclusion, or any other basis at any time, upon ninety (90) days’ written notice to the Tenant and provided that all other tenants in the Building are similarly terminated, in which event the Tenant may make application directly to the
public utility and/or other providers for the Tenant’s entire separate supply of electric current and Landlord shall permit its wires and conduits, to the extent available and safely capable, to be used for such purpose, but only to the extent
of Tenant’s then authorized load. Any meters, risers, or other equipment or connections necessary to enable Tenant to obtain electric current directly from such utility and/or other providers shall be installed at Landlord’s sole cost and
expense. The Landlord, upon the expiration of the aforesaid ninety (90) days’ written notice to the Tenant may discontinue furnishing the electric current but this Lease shall otherwise remain in full force and effect. Notwithstanding the
foregoing, so long as Tenant has timely commenced and maintained diligent, good faith efforts to obtain direct electric service from a utility, Landlord shall not discontinue electric service until Tenant has obtained direct service from a utility.
If Tenant was provided electricity on a rent inclusion basis when it was so discontinued, then commencing when Tenant receives such direct service and as long as Tenant shall continue to receive such service, the Fixed Annual Rent payable under this
Lease shall be reduced by the amount of the ERIF which was payable immediately prior to such discontinuance of electricity on a rent inclusion basis. 

  
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 (ii) The First Additional Space, Third Additional Space & Fourth
Additional Space. Commencing as of the Fourth Additional Space Commencement Date and ending on the T/F Additional Space Expiration Date, electricity shall be supplied to the Additional Space (as defined in the First Modification), Third
Additional Space and Fourth Additional Space, only, in accordance with the following. 
 41.01 Tenant acknowledges and agrees
that electric service shall be purchased by Tenant directly from the public utility serving the Building and measured by a single electric meter which Landlord shall install, at Landlord’s sole cost and expense, at or prior to the Fourth
Additional Space Commencement Date. Subject to causes beyond its reasonable control, Landlord agrees to make available to Tenant for use within the Additional Space, Third Additional Space and Fourth Additional Space, only, an average demand load of
six (6) watts of electricity per rentable square foot for all purposes, exclusive of the Existing HVAC Equipment. Except and to the extent same results from the negligence or willful misconduct of Landlord, its employees, agents or contractors,
(however, under no circumstances shall Landlord be liable for any consequential or special damages), Landlord shall not be liable to Tenant for any loss or damage or expense which Tenant may sustain or incur if either the quantity or character of
electric service is changed or is no longer available or suitable for Tenant’s requirements; provided, however, that Tenant shall have such remedies as are provided for in Section 10.03, above. Tenant covenants and agrees that at all times
its use of electric current shall never exceed the capacity of existing feeders to the Building or wiring installation, which Landlord represents are sufficient to deliver the average demand load of six (6) watts of electricity as referenced
above. Landlord reserves the right to terminate Tenant’s use of electric service in the event of emergency, if necessary in connection with the performance of any improvements, repairs or maintenance to the Building or if required by law, in
which event the Lease shall remain in full force and effect and Tenant shall have no claim against Landlord for damages, set-off or abatement. Tenant covenants and agrees that at all times its use of electric
service shall never exceed the capacity of existing Building facilities. 

  
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 41.02 At the option of Landlord, Tenant agrees to purchase from Landlord or
its agents all lamps and bulbs used in the Additional Space, Third Additional Space and Fourth Additional Space, and to pay for the cost of installation thereof, provided that all such lamps, bulbs and installation are competitively priced and that
such services are furnished in a timely and competent manner. Except and to the extent same results from the negligence or willful misconduct of Landlord, its employees, agents or contractors, (however, under no circumstances shall Landlord be
liable for any consequential or special damages), Landlord shall not be liable to Tenant for any loss or damage or expense which Tenant may sustain or incur if either the quantity or character of electric service is changed or is no longer available
or suitable for Tenant’s requirements; provided, however, that Tenant shall have such remedies as are provided for in Section 10.03, above. Any riser or risers to supply Tenant’s additional electrical requirements, upon written
request of Tenant, will be installed by Landlord, at the sole cost and expense of Tenant, if, in Landlord’s sole judgment, the same are necessary and will not cause permanent damage or injury to the Building or the Additional Space, Third
Additional Space and Fourth Additional Space or cause or create a dangerous or hazardous condition or entail excessive or unreasonable alterations, repairs or expense or interfere with or disturb other tenants or occupants. In addition to the
installation of such riser or risers, Landlord will also at the sole cost and expense of Tenant, install all other equipment proper and necessary in connection therewith subject to the aforesaid terms and conditions. 

c. Freight Elevator. 
 (i)
The Third Additional Space Only. Effective as of the Third Additional Space Commencement Date, Article 30.01 B of the Lease is hereby deleted in its entirety and replaced with the following: with respect only to the Third Additional Space
“Tenant may use one (1) freight elevator car free of charge on an “after hours” basis solely in connection with its construction and furnishing of and initial move into the Third Additional Space, provided that (a) such use
does not exceed seventy (70) hours in the aggregate (provided that if such usage exceeds seventy (70) hours in the aggregate, Tenant shall pay to Landlord, as Additional Rent within twenty (20) days after demand, an amount equal to
the standard freight charges of the Building for such excess usage); and (b) Tenant reserves said freight elevator car upon at least twenty-four (24) hours notice. 

(ii) The Fourth Additional Space Only. Effective as of the Fourth Additional Space Commencement Date, for purposes of Article 30.01 B
of the Lease is hereby deleted in its entirety and replaced with the following: with respect only to the Fourth Additional Space “Tenant may use one (1) freight elevator car free of charge on an “after hours” basis solely in
connection with its construction and furnishing of and initial move into the Fourth Additional Space, provided that (a) such use does not exceed seventy (70) hours in the aggregate (provided that if such usage exceeds seventy
(70) hours in the aggregate, Tenant shall pay to Landlord, as Additional Rent within twenty (20) days after demand, an amount equal to the standard freight charges of the Building for such excess usage); and (b) Tenant reserves said
freight elevator car upon at least twenty-four (24) hours notice. 

  
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 d. Air Conditioning. 

(i) The Third Additional Space. Commencing as of the Third Additional Space Commencement Date and ending on the T/F Additional Space
Expiration Date, air-conditioning shall be supplied to the Third Additional Space in accordance with the following. 

(A) Landlord shall make available to Tenant, and Tenant shall be permitted to use, the base Building equipment presently
supplying air-conditioning service to the Third Additional Space and any replacements thereof (the “Existing HVAC Equipment”) Monday to Friday from 8:00 a.m. to 6:00 p.m. (i) during the Building’s “Cooling
Season” (which is currently May 15 through October 15) for those portions of the Existing HVAC Equipment serving the perimeter portions of the Third Additional Space, and (ii) three hundred sixty-five (365) days a year for
those portions of the Existing HVAC System serving the interior portions of the Third Additional Space, in each instance subject to and in accordance with the provisions of this Article. Landlord represents that as of the Third Additional Space
Commencement Date the Existing HVAC Equipment is in working order and has a cooling capacity which is appropriate for normal office use and normal occupancy density, to wit: the Existing HVAC Equipment is designed to make available a capacity of one
(1) ton of HVAC per 300 usable square feet, and is designed to deliver a summer-winter temperature of between 72 and 78 degrees Fahrenheit. Landlord shall repair and maintain the Existing HVAC Equipment in good working order and condition, at
Landlord’s cost and expense; provided, however, that all other air conditioning systems, equipment and facilities hereafter located in or servicing the Third Additional Space (the “Supplemental Systems”) including, without
limitation, the ducts, dampers, registers, grilles and appurtenances utilized to distribute conditioned air within the Third Additional Space in connection with both the Existing HVAC Equipment and/or the Supplemental Systems (collectively
hereinafter referred to as the “HVAC System”), shall be maintained, repaired and operated by Tenant in compliance with all present and future laws and regulations relating thereto at Tenant’s sole cost and expense. Tenant shall
pay for all electricity consumed in the operation of the HVAC System (and/or water, gas and steam) for the production of chilled and/or condenser water and its supply to the the Third Additional Space, if applicable, which shall become the
obligation of Tenant subject to the terms of Article 41 of the Lease with respect to the Third Additional Space (as expressly set forth in Section 5 of this Agreement). Tenant shall pay for all parts and supplies necessary for the proper
operation of the HVAC System (and any restoration or replacement by Tenant of all or any part thereof shall be in quality and class at least equal to the original work or installations); provided, however, that Tenant shall not alter, modify, remove
or replace the HVAC System, or any part thereof, without Landlord’s prior written consent. 

  
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 (B) Without limiting the generality of the foregoing, Tenant shall, at its
own cost and expense, (a) cause to be performed all maintenance of the HVAC System (other than the Existing HVAC Equipment), including all repairs and replacements thereto, and (b) commencing as of the Third Additional Space Commencement
Date, and thereafter throughout the Term of the Lease, maintain in force and provide a copy of same to Landlord an air conditioning service repair and full service maintenance contract covering the HVAC System (other than the Existing HVAC
Equipment) in form reasonably satisfactory to Landlord with an air conditioning contractor or servicing organization approved by Landlord. All such contracts shall provide for the thorough overhauling of the HVAC System (other than the Existing HVAC
Equipment) at least once each year during the Term of this Lease and shall expressly state that (i) it shall be an automatically renewing contract terminable upon not less than thirty (30) days prior written notice to Landlord (sent by
certified mail, return receipt requested) and (ii) the contractor providing such service shall maintain a log at the Third Additional Space detailing the service provided to any HVAC Systems during each visit pursuant to such contract. Tenant
shall keep such log at the Third Additional Space and permit Landlord to review same promptly after Landlord’s request. The HVAC System is and shall at all times remain the property of Landlord, and at the expiration or sooner termination of
the Lease, Tenant shall surrender to Landlord any Supplemental Systems in good working order and condition, subject to normal wear and tear and shall deliver to Landlord a copy of the service log. In the event that Tenant fails to obtain the
contract required herein or perform any of the maintenance or repairs required hereunder, Landlord shall have the right, but not the obligation, to procure such contract and/or perform any such work and charge Tenant as Additional Rent hereunder the
cost of same plus an administrative fee equal to five (5%) percent of such cost which shall be paid for by Tenant on demand. 

(C) Upon Tenant’s election in accordance with the terms hereof, Landlord shall make available to Tenant up to five
(5) tons of condenser water (the “Condenser Water”) for use by Tenant in the Additional Space, the Third Additional Space or the Fourth Additional Space in connection with the operation by Tenant of any Supplemental Systems
serving the Additional Space, the Third Additional Space or the Fourth Additional Space, provided that Tenant elects to have Landlord supply such Condenser Water by notice (“Tenant’s Condenser Water Notice”) given to Landlord
on or prior to the last day of the twenty-fourth (24th) calendar month following the Third Additional Space Commencement Date, which Tenant’s Condenser Water Notice shall set forth the
tonnage of Condenser Water requested by Tenant. In the event that Tenant shall fail to provide Landlord with Tenant’s Condenser Water Notice in a timely manner or in the event that Tenant’s Condenser Water Notice shall request, or Tenant
shall use, less than the full five (5) tons of Condenser Water referred to above, then Tenant’s access to Condenser Water shall be limited to that lesser amount so requested and used by Tenant, and Tenant’s access to any additional
Condenser Water shall be subject to availability on a first-come/first-served basis. 

  
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 (D) Tenant shall pay to Landlord as Additional Rent under the Lease, the
following charges (plus sales tax, if applicable) in consideration of Landlord’s agreement to make available to Tenant Condenser Water hereunder, commencing as of the date upon which Tenant gives Tenant’s Condenser Water Notice to Landlord
an annual charge of $900.00 per ton of Condenser Water (the “Annual Condenser Water Charge”) for the tonnage requested, subject to increase as provided for herein. Except as otherwise provided for herein, all sums payable under this
Article shall be deemed to be Additional Rent and shall be paid by Tenant within twenty (20) days after demand. Commencing as of the first (1st) anniversary of the Third Additional Space
Commencement Date and on each anniversary of the Third Additional Space Commencement Date thereafter during the Term and any extensions or renewals thereof, the Annual Condenser Water Charge shall be increased to an amount equal to the product
obtained by multiplying: (x) the Annual Condenser Water Charge; by (y) a fraction, the numerator of which is the Consumer Price Index, All Items, New York and New Jersey, All Urban Consumers (the “CPI”) for the month
before the month in which the Third Additional Space Commencement Date occurred of the subject year, and the denominator of which is the CPI for the month and year in which the Third Additional Space Commencement Date occurred. 

(ii) The Fourth Additional Space. Commencing as of the Fourth Additional Space Commencement Date and ending on the T/F Additional Space
Expiration Date, air-conditioning shall be supplied to the Fourth Additional Space in accordance with the following. 

(A) Landlord shall make available to Tenant, and Tenant shall be permitted to use, the base Building equipment presently
supplying air-conditioning service to the Fourth Additional Space and any replacements thereof (the “Existing HVAC Equipment”) Monday to Friday from 8:00 a.m. to 6:00 p.m. (i) during the Building’s “Cooling
Season” (which is currently May 15 through October 15) for those portions of the Existing HVAC Equipment serving the perimeter portions of the Fourth Additional Space, and (ii) three hundred sixty-five (365) days a year for
those portions of the Existing HVAC System serving the interior portions of the Fourth Additional Space, in each instance subject to and in accordance with the provisions of this Article. Landlord represents that as of the Fourth Additional Space
Commencement Date the Existing HVAC Equipment will be in working order and will have a cooling capacity which is appropriate for normal office use and normal occupancy density, to wit: the Existing HVAC Equipment is designed to make available a
capacity of one (1) ton of HVAC per 300 usable square feet, and is designed to deliver a summer-winter temperature of between 72 and 78 degrees Fahrenheit. Landlord shall repair and maintain the Existing HVAC Equipment in good working order and
condition, at Landlord’s cost and expense; provided, however, that all other air conditioning systems, equipment and facilities hereafter located in or servicing the Fourth Additional Space (the “Supplemental Systems”)
including, without limitation, the ducts, dampers, registers, grilles and appurtenances utilized to distribute conditioned air within the Fourth Additional Space in connection with both the Existing HVAC Equipment and/or the Supplemental Systems
(collectively hereinafter referred to as the “HVAC System”), shall be maintained, repaired and operated by Tenant in compliance with all present and future laws and regulations relating thereto at Tenant’s sole cost and
expense. Tenant shall pay for all electricity consumed in the operation of the HVAC System (and/or water, gas and steam) for the production of chilled and/or condenser water and its supply to the Fourth Additional Space, if applicable, which shall
become the obligation of Tenant subject to the terms of Article 41 of the Lease with respect to the Fourth Additional Space (as expressly set forth in Section 5 of this Agreement). Tenant shall pay for all parts and supplies necessary for the
proper operation of the HVAC System (and any restoration or replacement by Tenant of all or any part thereof shall be in quality and class at least equal to the original work or installations); provided, however, that Tenant shall not alter, modify,
remove or replace the HVAC System, or any part thereof, without Landlord’s prior written consent. 

  
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 (B) Without limiting the generality of the foregoing, Tenant shall, at its
own cost and expense, (a) cause to be performed all maintenance of the HVAC System (other than the Existing HVAC Equipment), including all repairs and replacements thereto, and (b) commencing as of the Fourth Additional Space Commencement
Date, and thereafter throughout the Term of the Lease, maintain in force and provide a copy of same to Landlord an air conditioning service repair and full service maintenance contract covering the HVAC System (other than the Existing HVAC
Equipment) in form reasonably satisfactory to Landlord with an air conditioning contractor or servicing organization approved by Landlord. All such contracts shall provide for the thorough overhauling of the HVAC System (other than the Existing HVAC
Equipment) at least once each year during the Term of this Lease and shall expressly state that (i) it shall be an automatically renewing contract terminable upon not less than thirty (30) days prior written notice to Landlord (sent by
certified mail, return receipt requested) and (ii) the contractor providing such service shall maintain a log at the Fourth Additional Space detailing the service provided to any HVAC Systems during each visit pursuant to such contract. Tenant
shall keep such log at the Fourth Additional Space and permit Landlord to review same promptly after Landlord’s request. The HVAC System is and shall at all times remain the property of Landlord, and at the expiration or sooner termination of
the Lease, Tenant shall surrender to Landlord any Supplemental Systems in good working order and condition, subject to normal wear and tear and shall deliver to Landlord a copy of the service log. In the event that Tenant fails to obtain the
contract required herein or perform any of the maintenance or repairs required hereunder, Landlord shall have the right, but not the obligation, to procure such contract and/or perform any such work and charge Tenant as Additional Rent hereunder the
cost of same plus an administrative fee equal to five (5%) percent of such cost which shall be paid for by Tenant on demand. 
 (iii)
16th Floor Additional Supplemental HVAC. Effective as of the date that a fully executed counterpart of this Agreement is delivered by Landlord to Tenant and throughout the
Term, Landlord hereby approves, in concept only, subject to Tenant’s compliance with the applicable provisions of the Lease including, without limitation, the provisions of Article 8 thereof, Tenant’s installation, at Tenant’s
sole cost and expense, of an additional supplemental air conditioning unit to service a portion of the Additional Space, the Third Additional Space or the Fourth Additional Space (the “Additional Supplemental System”). Tenant shall
pay for all electricity consumed in the operation of the Additional Supplemental System (and/or water, gas and steam) for the production of chilled and/or condenser water and its supply to the Additional Space, the Third Additional Space or the
Fourth Additional Space, if applicable, which shall become the obligation of Tenant subject to the terms of Article 41 of the Lease. Tenant shall pay for all parts and supplies necessary for the proper operation of the Additional Supplemental System
(and any restoration or replacement by Tenant of all or any part thereof shall be in quality and class at least equal to the original work or installations); provided, however, that Tenant shall not alter, modify, remove or replace the Additional
Supplemental System, or any part thereof, without Landlord’s prior written consent. 

  
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 e. Cancellation Right. Effective as of the date that a fully executed counterpart of
this Agreement is delivered by Landlord to Tenant and throughout the Term, Article 51 of the Lease shall not be applicable with respect to the Additional Space, the Third Additional Space and the Fourth Additional Space, provided, however, that
Article 51 of the Lease shall continue to be applicable to the Original Premises and/or the Second Additional Space. 
 f. Renewal
Option. 
 (i) The Third Additional Space. 

Effective as of the Third Additional Space Commencement Date, with respect to the Third Additional Space only, provided that Named Tenant (as
defined in Article 50.01 in the Lease) timely and properly exercises the Extension Right (as defined in Article 50.01 in the Lease) as to either the Original Premises or the Second Additional Space, and the First Additional Space, by
no later than January 31, 2019, then Named Tenant shall, subject to subsection f(iv), below, also exercise the Extension Right as to the Third Additional Space. In the event Named Tenant timely and properly exercises the Extension Right as to
the Third Additional Space by no later than January 31, 2019, same shall be subject to the terms, covenants and conditions of Article 50 of the Lease, all references therein to the Premises shall include: (A) the Third Additional Space,
and (B) subject to subsection f(iv), below, the Original Premises and/or the Second Additional Space, and the Extension Term of the Lease with respect to the Original Premises and/or the Second Additional Space (pursuant to subsection f(iv),
below) and the Third Additional Space shall end on January 31, 2025, unless the Extension Term shall sooner end pursuant to any of the terms, covenants or conditions of this Lease or pursuant to law. Notwithstanding anything to the contrary
contained herein or in the Lease, in the event Named Tenant timely and properly exercises the Extension Right as to the Third Additional Space by no later than January 31, 2019, Named Tenant must also exercise the Extension Right as to the
First Additional Space and the Fourth Additional Space (to the extent the Fourth Additional Space is part of the Premises). 

  
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 (ii) The Fourth Additional Space. 

Effective as of the Fourth Additional Space Commencement Date, with respect to the Fourth Additional Space only, provided that Named Tenant (as
defined in Article 50.01 in the Lease) timely and properly exercises the Extension Right (as defined in Article 50.01 in the Lease) as to either the Original Premises or the Second Additional Space, and the First Additional Space
and the Third Additional Space, by no later than January 31, 2019, then Named Tenant shall, subject to subsection f(iv), below, also exercise the Extension Right as to the Fourth Additional Space. In the event Named Tenant timely
and properly exercises the Extension Right as to the Fourth Additional Space by no later than January 31, 2019, same shall be subject to the terms, covenants and conditions of Article 50 of the Lease, all references therein to the Premises
shall include: (A) the Fourth Additional Space, and (B) subject to subsection f(iv), below, the Original Premises and/or the Second Additional Space, and the Extension Term of the Lease with respect to the Original Premises and/or the
Second Additional Space (pursuant to subsection f(iv), below) and the Fourth Additional Space shall end on January 31, 2025, unless the Extension Term shall sooner end pursuant to any of the terms, covenants or conditions of this Lease or
pursuant to law. Notwithstanding anything to the contrary contained herein or in the Lease, in the event Named Tenant timely and properly exercises the Extension Right as to the Fourth Additional Space by no later than January 31, 2019, Named
Tenant must also exercise the Extension Right as to the First Additional Space and the Third Additional Space. 
 (iii) The First
Additional Space. 
 Effective as of the Third Additional Space Commencement Date, with respect to the First Additional Space only,
provided that Named Tenant (as defined in Article 50.01 in the Lease) timely and properly exercises the Extension Right (as defined in Article 50.01 in the Lease) as to either the Original Premises or the Second Additional Space, and
the Third Additional Space and the Fourth Additional Space (if then part of the Premises), by no later than January 31, 2019, then Named Tenant shall, subject to subsection f(iv), below, also exercise the Extension Right as to the
First Additional Space. In the event Named Tenant timely and properly exercises the Extension Right as to the First Additional Space by no later than January 31, 2019, same shall be subject to the terms, covenants and conditions of Article 50
of the Lease, all references therein to the Premises shall include: (A) the First Additional Space, and (B) subject to subsection f(iv), below, the Original Premises and/or the Second Additional Space, and the Extension Term of the Lease
with respect to the Original Premises and/or the Second Additional Space (pursuant to subsection f(iv), below) and the First Additional Space shall end on January 31, 2025, unless the Extension Term shall sooner end pursuant to any of the
terms, covenants or conditions of this Lease or pursuant to law. Notwithstanding anything to the contrary contained herein or in the Lease, in the event Named Tenant timely and properly exercises the Extension Right as to the First Additional Space
by no later than January 31, 2019, Named Tenant must also exercise the Extension Right as to the Third Additional Space and the Fourth Additional Space (to the extent the Fourth Additional Space is part of the Premises). 

(iv) The Extension Right Combinations. 

Effective as of the Fourth Additional Space Commencement Date, and notwithstanding anything to the contrary contained in this Agreement or in
the Lease, in the event Named Tenant timely and properly exercises the Extension Right by no later than January 31, 2019, Named Tenant may exercise the Extension Right as to either: (A) all of the Existing Premises, the Third Additional
Space and Fourth Additional Space; or (B) all of the Original Premises, First Additional Space, Third Additional Space and Fourth Additional Space; or (C) all of the Original Premises and the Second Additional Space; or (D) all of the
First Additional Space, Second Additional Space, Third Additional Space and Fourth Additional Space. Notwithstanding anything to the contrary contained herein or in the Lease, no combinations of the Extension Right other than those expressly set
forth in this subsection f (iv) shall be permitted. 

  
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 6. Condition of the Third Additional Space & Fourth Additional
Space. 
 (i) The Third Additional Space Only. Tenant acknowledges and agrees that Tenant has inspected the Third Additional
Space, is fully familiar with the physical condition thereof and agrees to accept possession of the Third Additional Space in its then “as-is” condition as of the Third Additional Space Commencement
Date and Tenant acknowledges and agrees that Landlord shall have no obligation to do any work in or to the Third Additional Space in order to make it suitable and ready for occupancy and use by Tenant. 

(ii) The Fourth Additional Space Only. Tenant acknowledges and agrees that Tenant has inspected the Fourth Additional Space, is fully
familiar with the physical condition thereof and agrees to accept possession of the Fourth Additional Space in its then “as-is” condition as of the Fourth Additional Space Commencement Date and
Tenant acknowledges and agrees that Landlord shall have no obligation to do any work in or to the Fourth Additional Space in order to make it suitable and ready for occupancy and use by Tenant. 

7. Landlord’s Contribution. 

a. The Third Additional Space Only. 

(i) Tenant shall have prepared by a registered architect and/or a licensed professional engineer, at its sole cost and expense, and submit to
Landlord for its approval in accordance with the applicable provisions of the Lease, final and complete dimensioned architectural, mechanical, electrical and structural drawings and specifications in a form ready for use as construction drawings
(“Tenant’s Plans”) for the installation of alterations, installations, decorations and improvements in the Third Additional Space to prepare the same for Tenant’s initial occupancy thereof (“Tenant’s Third
Additional Space Alteration Work”). All such construction plans and specifications and all such work shall be effected in accordance with all applicable provisions of the Lease, including, without limitation, Article 8, at Tenant’s
sole cost and expense. In connection with any Tenant’s Third Additional Space Alteration Work, Landlord shall reasonably cooperate with Tenant in connection with obtaining necessary permits for any Tenant’s Third Additional Space
Alteration Work, which may include, without limitation, executing applications reasonably required by Tenant for such permits prior to completion of Landlord’s review of Tenant’s Plan s, provided that (A) execution of any such
application by Landlord shall not constitute Landlord ‘s consent to Tenant’s Third Additional Space Alteration Work in question (which consent shall still be required in accordance with all applicable provisions of the Lease, including,
without limitation, Article 8, prior to the performance of any Tenant’s Third Additional Space Alteration Work), (B) no such application shall include a proposed change in the Certificate of Occupancy for the Building, and (C) Tenant shall
reimburse Landlord, within thirty (30) days after demand therefor, for all reasonable out-of-pocket third party costs and expenses reasonably incurred by Landlord
in connection with Landlord’s cooperation in obtaining such permits. 

  
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 (ii) If and so long as Tenant is not in monetary or material
non-monetary default under the Lease after notice, (in which event Tenant’s rights under this Article shall be suspended until such time, if ever, as Tenant fully cures the default alleged in such notice,
at which time Tenant’s rights hereunder shall be reinstated), then subject to and in accordance with the provisions of this Section 7, Landlord shall contribute up to the sum of $80,875.00 (“Landlord’s Third AS
Contribution”) to the cost of labor and materials for the portion of the Tenant’s Third Additional Space Alteration Work which constitutes Qualified Renovations. “Qualified Renovations” shall be defined as:
(A) the labor and materials used by Tenant to construct permanent leasehold improvements and alterations to the Third Additional Space in compliance with the Lease after the date hereof and prior to the last day of the twenty-fourth (24th) calendar month following the Third Additional Space Commencement Date and (B) up to but not exceeding the sum of $16,175.00 of Landlord’s Third AS Contribution may be applied towards the
Soft Costs (as defined below) incurred in connection therewith. Without limitation, for purposes of this Article, Qualified Renovations shall be deemed not to include and Landlord’s Third AS Contribution shall not be applied to the cost of
interest, late charges, trade fixtures, furniture, furnishings, moveable business equipment or any personal property whatsoever, or to the cost of labor, materials or services used to furnish or provide the same. For the purposes hereof, the term
“Soft Costs” shall mean the cost of architectural, planning, engineering and filing fees, equipment, workstations, related cabinetry, and/or work surfaces (whether or not affixed to walls and/or convector covers), incurred in
connection with the performance of Tenant’s Third Additional Space Alteration Work. Notwithstanding anything to the contrary contained in the Lease or this Agreement, Tenant shall not be required to pay Landlord any inspection or supervisory
fee (other than out-of-pocket third party expenses) in connection with any Qualified Renovations to the Third Additional Space. 

(iii) “Requisition” shall mean a request by Tenant for payment from Landlord for Qualified Renovations and shall consist of
such documents and information from Tenant as Landlord may require to substantiate the completion of, and payment for, such Qualified Renovations to which the Requisition relates (the “Work Cost”) and shall include, without
limitation, the following: an itemization of Tenant’s total construction costs, detailed by contractor, subcontractors, vendors and materialmen; bills, receipts, lien waivers and releases from all contractors, subcontractors, vendors and
materialmen; architects’ and Tenant’s certification of completion, payment and acceptance, and all governmental approvals and confirmations of completion for the portion of the Tenant’s Third Additional Space Alteration Work
theretofore completed and for which Tenant seeks payment. 
 (iv) From
time-to-time, but not more than once in any calendar month during the term, Tenant may give Landlord a Requisition for so much of the Work Cost as arose since the end of
the period to which the most recent prior Requisition related, or, with respect to the first Requisition, for the initial Work Cost. 
 (v)
If Tenant is not then in monetary or material non-monetary default under the Lease after notice, (in which event Tenant’s rights under this Article shall be suspended until such time, if ever, as Tenant
fully cures the default alleged in such notice, at which time Tenant’s rights hereunder shall be reinstated), and provided that all documents and information required by Landlord have been provided, within thirty (30) days after Landlord
receives a Requisition, Landlord shall pay Tenant ninety percent (90%), of the Work Cost reflected in such Requisition and shall withhold the remaining ten percent (10%) of Work Cost (the “Retainage”); and provided that Tenant is
not then in monetary or material non-monetary default under the Lease after notice, (in which event Tenant’s rights under this Article shall be suspended until such time, if ever, as Tenant fully cures
the default alleged in such notice, at which time Tenant’s rights hereunder shall be reinstated), within thirty (30) days after Tenant furnishes Landlord with (x) a final, stamped set of
“as-built” plans for the Third Additional Space which demonstrates that Tenant’s Third Additional Space Alteration Work has been completed in accordance with plans and specifications first
approved by Landlord and (y) its final Requisition which demonstrates that Tenant’s Third Additional Space Alteration Work has been completed and paid for in full by Tenant and (z) all documents and information required by Landlord
including, without limitation, final approvals and “sign offs” from all governmental and quasi-governmental agencies and authorities having jurisdiction, Landlord shall pay Tenant all the Retainages. 

  
 20 

 (vi) It is expressly understood and agreed that if the amount of Landlord’s Third AS
Contribution is less than the cost of Tenant’s Third Additional Space Alteration Work, Tenant shall remain solely responsible for the payment and completion of, and in all events shall complete, at its sole cost and expense, Tenant’s Third
Additional Space Alteration Work on or before the last day of the twenty-fourth (24th) calendar month following the Third Additional Space Commencement Date. Any portion of Landlord’s Fourth
AS Contribution not disbursed towards Tenant’s Third Additional Space Alteration Work and Tenant’s Fourth Additional Space Alteration Work in accordance with subsection (c), below, shall be retained by Landlord. 

b. The Fourth Additional Space Only 

(i) Tenant shall have prepared by a registered architect and/or a licensed professional engineer, at its sole cost and expense, and submit to
Landlord for its approval in accordance with the applicable provisions of the Lease, final and complete dimensioned architectural, mechanical, electrical and structural drawings and specifications in a form ready for use as construction drawings
(“Tenant’s Plans”) for the installation of alterations, installations, decorations and improvements in the Fourth Additional Space to prepare the same for Tenant’s initial occupancy thereof (“Tenant’s Fourth
Additional Space Alteration Work”). All such construction plans and specifications and all such work shall be effected in accordance with all applicable provisions of the Lease, including, without limitation, Article 8, at Tenant’s
sole cost and expense. In connection with any Tenant’s Fourth Additional Space Alteration Work, Landlord shall reasonably cooperate with Tenant in connection with obtaining necessary permits for any Tenant’s Fourth Additional Space
Alteration Work, which may include, without limitation, executing applications reasonably required by Tenant for such permits prior to completion of Landlord’s review of Tenant’s Plans, provided that (A) execution of any such
application by Landlord shall not constitute Landlord’s consent to Tenant’s Fourth Additional Space Alteration Work in question (which consent shall still be required in accordance with all applicable provisions of the Lease, including,
without limitation, Article 8, prior to the performance of any Tenant’s Fourth Additional Space Alteration Work), (B) no such application shall include a proposed change in the Certificate of Occupancy for the Building, and (C) Tenant
shall reimburse Landlord, within thirty (30) days after demand therefor, for all reasonable actual out-of-pocket costs and expenses reasonably incurred by Landlord
in connection with Landlord’s cooperation in obtaining such permits. 

  
 21 

 (ii) If and so long as Tenant is not then in monetary or material non-monetary default under the Lease after notice, (in which event Tenant’s rights under this Article shall be suspended until such time, if ever, as Tenant fully cures the default alleged in such notice, at
which time Tenant’s rights hereunder shall be reinstated), then subject to and in accordance with the provisions of this Section 7, Landlord shall contribute up to the sum of $245,960.00 (“Landlord’s Fourth AS
Contribution”) to the cost of labor and materials for the portion of the Tenant’s Fourth Additional Space Alteration Work which constitutes Qualified Renovations. “Qualified Renovations” shall be defined as:
(A) the labor and materials used by Tenant to construct permanent leasehold improvements and alterations to the Fourth Additional Space in compliance with the Lease after the date hereof and prior to the last day of the twenty-fourth (24th) calendar month following the Fourth Additional Space Commencement Date and (B) up to but not exceeding the sum of $49,192.00 of Landlord’s Fourth AS Contribution may be applied towards
the Soft Costs (as defined below) incurred in connection therewith. Without limitation, for purposes of this Article, Qualified Renovations shall be deemed not to include and Landlord’s Fourth AS Contribution shall not be applied to the cost of
interest, late charges, trade fixtures, furniture, furnishings, moveable business equipment or any personal property whatsoever, or to the cost of labor, materials or services used to furnish or provide the same. For the purposes hereof, the term
“Soft Costs” shall mean the cost of architectural, planning, engineering and filing fees, equipment, workstations, related cabinetry, and/or work surfaces (whether or not affixed to walls and/or convector covers), incurred in
connection with the performance of Tenant’s Fourth Additional Space Alteration Work. Notwithstanding anything to the contrary contained in the Lease or this Agreement, Tenant shall not be required to pay Landlord any inspection or supervisory
fee (other than out-of-pocket third party expenses) in connection with any Qualified Renovations to the Fourth Additional Space. 

(iii) “Requisition” shall mean a request by Tenant for payment from Landlord for Qualified Renovations and shall consist of
such documents and information from Tenant as Landlord may require to substantiate the completion of, and payment for, such Qualified Renovations to which the Requisition relates (the “Work Cost”) and shall include, without
limitation, the following: an itemization of Tenant’s total construction costs, detailed by contractor, subcontractors, vendors and materialmen; bills, receipts, lien waivers and releases from all contractors, subcontractors, vendors and
materialmen; architects’ and Tenant’s certification of completion, payment and acceptance, and all governmental approvals and confirmations of completion for the portion of the Tenant’s Fourth Additional Space Alteration Work
theretofore completed and for which Tenant seeks payment. 
 (iv) From
time-to-time, but not more than once in any calendar month during the term, Tenant may give Landlord a Requisition for so much of the Work Cost as arose since the end of
the period to which the most recent prior Requisition related, or, with respect to the first Requisition, for the initial Work Cost. 
 (v)
If Tenant is not then in monetary or material non-monetary default under the Lease after notice, (in which event Tenant’s rights under this Article shall be suspended until such time, if ever, as Tenant fully cures the default alleged in such
notice, at which time Tenant’s rights hereunder shall be reinstated), and provided that all documents and information required by Landlord have been provided, within thirty (30) days after Landlord receives a Requisition, Landlord shall
pay Tenant ninety percent (90%), of the Work Cost reflected in such Requisition and shall withhold the remaining ten percent (10%) of Work Cost (the “Retainage”); and provided that Tenant is not then in monetary or material non-monetary default under the Lease after notice, (in which event Tenant’s rights under this Article shall be suspended until such time, if ever, as Tenant fully cures the default alleged in such notice, at
which time Tenant’s rights hereunder shall be reinstated), within thirty (30) days after Tenant furnishes Landlord with (x) a final, stamped set of “as-built” plans for the Fourth
Additional Space which demonstrates that Tenant’s Fourth Additional Space Alteration Work has been completed in accordance with plans and specifications first approved by Landlord and (y) its final Requisition which demonstrates that
Tenant’s Fourth Additional Space Alteration Work has been completed and paid for in full by Tenant and (z) all documents and information required by Landlord including, without limitation, final approvals and “sign offs” from all
governmental and quasi-governmental agencies and authorities having jurisdiction, Landlord shall pay Tenant all the Retainages. 

  
 22 

 (vi) It is expressly understood and agreed that if the amount of Landlord’s Fourth AS
Contribution is less than the cost of Tenant’s Fourth Additional Space Alteration Work, Tenant shall remain solely responsible for the payment and completion of, and in all events shall complete, at its sole cost and expense, Tenant’s
Fourth Additional Space Alteration Work on or before the last day of the twenty-fourth (24th) calendar month following the Fourth Additional Space Commencement Date. Any portion of Landlord’s
Fourth AS Contribution not disbursed towards Tenant’s Fourth Additional Space Alteration Work and Tenant’s Third Additional Space Alteration Work in accordance with subsection (c), below, shall be retained by Landlord. 

(vii) Notwithstanding anything to the contrary contained in this Agreement, following the completion of Tenant’s Fourth Additional Space
Alteration Work and Tenant’s Third Additional Space Alteration Work, Tenant shall be permitted to: (i) submit a Requisition for Qualified Renovations, in accordance with the terms of this Section 7, and apply all or any portion of any
unused Landlord’s Third AS Contribution towards all or any portion of Tenant’s Fourth Additional Space Alteration Work and/or Tenant’s Third Additional Space Alteration Work, and (ii) submit a Requisition for Qualified
Renovations, in accordance with the terms of this Section 7, and apply all or any portion of any unused Landlord’s Fourth AS Contribution towards all or any portion of Tenant’s Fourth Additional Space Alteration Work and/or
Tenant’s Third Additional Space Alteration Work. 
 (viii) Notwithstanding anything to the contrary contained in this Agreement or in
the Lease, in the event that any portion of Landlord’s Third AS Contribution and Landlord’s Fourth AS Contribution shall be unused by Tenant as of the last day of the twenty-fourth
(24th) calendar month following the Fourth Additional Space Commencement Date, or as of the sooner completion of Tenant’s Fourth Additional Space Alteration Work and Tenant’s Third
Additional Space Alteration Work, then provided and on condition that: (A) Tenant’s Fourth Additional Space Alteration Work and Tenant’s Third Additional Space Alteration Work, have been completed in accordance with the terms of the
Lease, as modified by this Agreement, and (B) at least seventy (70%) percent of Landlord’s Third AS Contribution and seventy (70%) percent of Landlord’s Fourth AS Contribution has been used by Tenant for Tenant’s Fourth
Additional Space Alteration Work and Tenant’s Third Additional Space Alteration Work, Tenant shall be permitted to submit a written notice to Landlord requesting that Landlord apply the unused portion of Landlord’s Fourth AS Contribution
and Landlord’s Third AS Contribution (but in no event more than thirty (30%) percent of Landlord’s Fourth AS Contribution and Landlord’s Third AS Contribution) towards the next ensuing installment (s) of Fixed Annual Rent. Upon
Landlord’s receipt of such written notice, Landlord shall apply any such unused portion of Landlord’s Fourth AS Contribution and Landlord’s Third AS Contribution by way of credit against the monthly installment(s) of Fixed Annual Rent
next accruing under this Lease. 

  
 23 

 8. Successors and Assigns 

This Agreement shall be binding upon and inure to the benefit of the parties and their respective successors and permitted assigns. 

9. Entire Agreement. 
 The
Lease, as modified by this Agreement, represents the entire understanding between the parties with regard to the matters addressed herein and may only be modified by a written agreement executed by all parties hereto. All prior understandings or
agreements between the parties hereto, oral or written, with regard to the matters addressed herein, other than the Lease, are hereby merged herein. Tenant acknowledges that neither Landlord nor any representative or agent of Landlord has made any
representation or warranty, express or implied, as to the physical condition, state of repair, layout, footage or use of the Third Additional Space or the Fourth Additional Space or any matter or thing affecting or relating to the Third Additional
Space or the Fourth Additional Space except, as specifically set forth in this Agreement. Tenant has not been induced by and has not relied upon any statement, representation or agreement, whether express or implied, not specifically set forth in
this Agreement. Landlord shall not be liable or bound in any manner by any oral or written statement, broker’s “set-up,” representation, agreement or information pertaining to the Third
Additional Space, the Fourth Additional Space or this Agreement furnished by any real estate broker, agent, servant, employee or other person, unless specifically set forth herein, and no rights are or shall be acquired by Tenant by implication or
otherwise unless expressly set forth herein. 
 10. Effectiveness. 

Landlord and Tenant agree that this Agreement is submitted to Tenant on the understanding that it shall not be considered an offer and shall
not bind Landlord or Tenant in any way unless and until: (i) Tenant has duly executed and delivered duplicate originals hereof to Landlord; and (ii) Landlord has executed and delivered one of said originals to Tenant. 

11. Ratification. 
 Except
as specifically modified herein, all other terms, covenants and conditions of the Lease are and shall remain in full force and effect and are hereby ratified and confirmed. 

12. No Brokers/Indemnification. 

a. Tenant covenants, represents and warrants that Tenant has had no dealings or negotiations with any broker or agent in connection with the
consummation of this Agreement other than SL Green Leasing LLC and Cushman & Wakefield, Inc. (collectively, the “Brokers”) and Tenant covenants and agrees to defend, hold harmless and indemnify Landlord from and against any
and all cost, expense (including reasonable attorneys’ fees) or liability for any compensation, commissions or charges claimed by any broker or agent (other than the Brokers) with respect to this Agreement or the negotiation thereof. 

  
 24 

 b. Landlord covenants, represents and warrants that Landlord has had no dealings or
negotiations with any broker or agent in connection with the consummation of this Agreement other than the Brokers, and Landlord covenants and agrees to defend, hold harmless and indemnify Tenant from and against any and all cost, expense (including
reasonable attorneys’ fees) or liability for any compensation, commissions or charges claimed by any broker or agent, including Brokers, with whom Landlord has dealt with respect to this Agreement or the negotiation thereof. Landlord agrees to
pay any commissions due the Brokers in connection with this Agreement, pursuant to a separate agreement(s). 
 13. Miscellaneous. 

a. The captions in this Agreement are for convenience of reference only and are not to be considered in construing this Agreement. 

b. This Agreement shall be construed without regard to any presumption or other rule requiring construction against the party causing this
Agreement to be drafted. 
 c. Terms used in this Agreement and not otherwise defined herein shall have the respective meanings ascribed
thereto in the Lease. 
 d. If any provision of this Agreement or its application to any person or circumstances is invalid or unenforceable
to any extent, the remainder of this Agreement, or the applicability of such provision to other persons or circumstances, shall be valid and enforceable to the fullest extent permitted by law and shall be deemed to be separate from such invalid or
unenforceable provisions and shall continue in full force and effect. 
 e. This Agreement may be executed and delivered in any number of
counterparts, each of which so executed and delivered shall be deemed to be an original and all of which shall constitute one and the same instrument. Electronic, facsimile or e-mailed signatures shall be deemed original signatures for the purposes
hereof, provided that the party providing such electronic, facsimile or e-mailed signature shall deliver an original counterpart of such signature to the other party within five (5) business days
thereafter. 
 THE REMAINDER OF THIS PAGE IS INTENTIONALLY LEFT BLANK 

  
 25 

 IN WITNESS WHEREOF, Landlord and Tenant have duly executed this Agreement as of the
date first above written. 
  

							
	LANDLORD:	 		 	SLG TOWER 45 LLC, as Landlord
				
		 		 	By:	 	 /s/ Steven M. Durels

		 		 		 	Name: Steven M. Durels
		 		 		 	 Title:   Executive Vice President, 
Director of Leasing and Real
Property

  

			
	Witness:
		
	By:	 	
                 

		 	Name:

  

							
	TENANT:	 		 	SCHRÖDINGER, INC., as Tenant
				
		 		 	By:	 	 /s/ Ramy Farid

		 		 		 	Name: Ramy Farid
		 		 		 	Title:   President

  

			
	Witness:
		
	By:	 	 /s/ Yvonne Tran

		 	Name: Yvonne Tran
		 	 General Counsel

  
 26 

 EXHIBIT A 

LOCATION PLAN OF THE THIRD ADDITIONAL SPACE 
  

 

  
 27 

 EXHIBIT B 

LOCATION PLAN OF THE FOURTH ADDITIONAL SPACE 
  

 

  
 28 

 EXHIBIT C 

THIRD ADDITIONAL SPACE FIXED ANNUAL RENT SCHEDULE 
  

					
	
Period
  
	  	
Fixed Annual Rent
  
	  	
Monthly Installment
  

	 from the Third Additional Space Rent Commencement
Date through & including the day immediately preceding the fifth (5th) anniversary thereof;
  
	  	        $155,280.00	  	       $12,940.00
	 from the fifth (5th) anniversary of the Third Additional Space Rent Commencement Date through and including the T/F Additional Space Expiration Date.

 
	  	        $171,455.00	  	       $14,287.92

  
 29 

 EXHIBIT D 

FOURTH ADDITIONAL SPACE FIXED ANNUAL RENT SCHEDULE 
  

					
	
Period
  
	  	
Fixed Annual Rent
  
	  	
Monthly Installment
  

	 from the Fourth Additional Space Rent Commencement
Date through & including the T/F Additional Space Expiration Date.
  
	  	       $356,642.00	  	       $29,720.17

  
 30 

 EXHIBIT E 

FIRST ADDITIONAL SPACE FIXED ANNUAL RENT SCHEDULE 
  

					
	 Period

 
	  	 Fixed Annual Rent

 
	  	
Monthly Installment
  

	 From February 1,
2020 through & including the T/F Additional Space Expiration Date.
  
	  	       $270,515.00	  	       $22,542.92

  
 31 

 EXHIBIT F 

LOCATION PLAN OF THE FIRST ADDITIONAL SPACE, THIRD ADDITIONAL 

SPACE, AND FOURTH ADDITIONAL SPACE FOLLOWING THE FOURTH 

ADDITIONAL SPACE COMMENCEMENT DATE 
  

 

  
 32 

 FOURTH LEASE MODIFICATION 

AND 
 ADDITIONAL
SPACE AGREEMENT 
 FOURTH LEASE MODIFICATION AND ADDITIONAL SPACE AGREEMENT (this “Agreement”) dated as of
May 30th, 2017 by and among AKCO T45 LLC and 33RD T45 LLC, tenants in common and
successors-in-interest to SLG Tower 45 LLC (together, “Landlord”) having an office c/o Kamber Management Company LLC, 551 Fifth Avenue, Suite 2200, New
York, New York 10176 and SCHRÖDINGER, INC., a Delaware corporation, having an office at 120 West 45th Street, 17th floor, New York, New York 10036 (hereinafter referred to as “Tenant”). 

Statement of Facts 

Landlord’s predecessor-in-interest, SLG Tower 45 LLC, and
Tenant (which the parties agree was erroneously referenced as Schrodinger, Inc. in the Lease, as hereinafter defined) entered into that certain lease agreement dated as of July 8, 2009 (the “Original Lease”), which
Original Lease was amended by that certain Lease Modification And Additional Space Agreement dated as of April 7, 2011 (the “First Modification”), Second Lease Modification And Additional Space Agreement dated as of August
12, 2013 (the “Second Modification”) and Third Lease Modification And Additional Space Agreement dated as of November 20, 2014 (the “Third Modification”). The Original Lease as amended by such First
Modification, Second Modification and Third Modification is herein collectively referred to as the “Lease”. Landlord has succeeded to the interest of SLG Tower 45 LLC as landlord under the Lease. 

Pursuant to the Lease, Landlord leases to Tenant and Tenant hires from Landlord the following spaces in the Building, all on the terms and as
more particularly set forth in the Lease: 
  

	 	(i)	 the entire rentable portion of the seventeenth (17th) floor of the Building (the “17th Floor
Premises”) for a term set to expire on January 31, 2020; 

  

	 	(ii)	 a portion of the sixteenth (16th) floor of the Building designated as Suite 1600 (the “First 16th Floor
Premises”) for a term set to expire on August 31, 2021; 

  

	 	(iii)	 the entire rentable portion of the eighth (8th) floor of the Building (the “8th Floor
Premises”) for a term set to expire on January 31, 2020; 

  

	 	(iv)	 a portion of the sixteenth (16th) floor of the Building designated as Suite 1605 (the “Second 16th
Floor Premises”) for a term set to expire on August 31, 2021; and 

  

	 	(v)	 a portion of the sixteenth (16th) floor of the Building designated as Suite 1610 (the “Third 16th Floor
Premises”) for a term set to expire on August 31, 2021. 

 The 17th Floor Premises, First 16th Floor
Premises, 8th Floor Premises, Second 16th Floor Premises and Third 16th Floor Premises are herein collectively referred to as the “Existing Premises”. 

 Landlord and Tenant now desire to amend the Lease to provide for the leasing to Tenant of
the following additional spaces in the Building: 
  

	 	(i)	 the entire rentable portion of the twentieth (20th) floor of the Building, which the parties agree consists of
12,919 rentable square feet, as approximately indicated by hash marks on the location plan attached to this Agreement as Exhibit A-1 (herein, the “20th Floor Premises”) for a term
expiring on January 31, 2020 (herein, the “20th and 21st Floor Premises Expiration Date”); and 

  

	 	(ii)	 the entire rentable portion of the twenty-first (21st) floor of the Building, which the parties agree consists
of 12,919 rentable square feet, as approximately indicated by hash marks on the location plan attached to this Agreement as Exhibit A-2 (herein, the “21st Floor Premises”) for a term
expiring on the 20th and 21st Floor Premises Expiration Date. 

 Terms 

NOW, THEREFORE, in consideration of the mutual agreements herein contained and other good and valuable consideration, the receipt and
sufficiency of which is hereby acknowledged, the parties hereby agree as follows: 
  

	1.	 Demise/Term. 

(a) 20th Floor Premises and 21st Floor Premises. 

(i) 20th and 21st Floor Premises Commencement Date. Effective as of the “20th and 21st Floor Premises Commencement Date” (as
hereinafter defined), the 20th Floor Premises and 21st Floor Premises are hereby added to the Existing Premises under all of the terms, covenants and conditions of the Lease, except to the extent expressly modified herein, for a term commencing on
the 20th and 21st Floor Premises Commencement Date and ending on the 20th and 21st Floor Premises Expiration Date or on such earlier date upon which the term of the Lease shall expire, be canceled or terminated pursuant to any of the terms,
covenants or conditions of the Lease or pursuant to law 
 (ii) Anticipated Commencement Date. Landlord and Tenant acknowledge that
the 20th and 21st Floor Premises Commencement Date is anticipated to occur on August 1, 2017 (the “20th and 21st Floor Anticipated Commencement Date”). 

(iii) As used herein, the “20th and 21st Floor Premises Commencement Date” shall mean August 1, 2017 provided that
“Landlord’s Work”, as hereinafter defined, has been substantially completed on or before such date and Landlord has given Tenant not less than five (5) business days advance notice thereof. 

  
 2 

 (iv) Once the 20th and 21st Floor Premises Commencement Date occurs, Landlord and Tenant
shall execute a Confirmatory Agreement in the form annexed hereto as Exhibit D confirming the same within ten (10) days of written demand therefor, but any failure to execute such a memorandum shall not affect such date. Notwithstanding
anything herein to the contrary, if Landlord’s Work in the 20th Floor Premises and/or 21st Floor Premises are substantially completed prior to the 20th and 21st Floor Anticipated Commencement Date, Tenant may occupy same for the conduct of its
business without affecting the dates set forth in Exhibits C-1 and C-2 or any other provisions hereof and Tenant shall not be required to pay Fixed Annual Rent for such
earlier period. 
 (b) “As-is” Condition /Landlord’s Work. 

(i) “As-is” Condition. Tenant acknowledges and agrees that Tenant has inspected the
20th Floor Premises and 21st Floor Premises, is fully familiar with the physical condition thereof and agrees to accept possession of the 20th Floor Premises and 21st Floor Premises in its “as-is”
condition as of the date of this Agreement, subject only to the performance of Landlord’s Work. Other than the performance of Landlord’s Work, Landlord shall have no obligation to do any work in or to the 20th Floor Premises or 21st Floor
Premises in order to make them suitable and ready for occupancy and use by Tenant. 
  

	 	(ii)	 Landlord’s Work. (A) Landlord, at its sole cost and expense, shall perform Landlord’s
Work in the 20th Floor Premises and 21st Floor Premises. In the event Landlord shall be unable to deliver possession of the 20th Floor Premises or 21st Floor Premises to Tenant on the 20th and 21st Floor Anticipated Commencement Date with
Landlord’s Work substantially completed, then (x) Landlord shall not be subject to any liability for such failure, and (y) the Lease, as modified by this Agreement, shall remain in full force and effect without extension of the Term
with respect to the 20th Floor Premises or 21st Floor Premises and, subject to the provisions of sub-paragraph (C) below, Tenant’s obligation to pay Fixed Annual Rent and Additional Rent with respect
to the 20th Floor Premises and 21st Floor Premises shall not commence until Landlord’s Work in the 20th Floor Premises and 21st Floor Premises has been substantially completed and the dates set forth in Exhibit
C-1 and C-2 hereof setting forth the rates of Fixed Annual Rent payable on account of the 20th Floor Premises and 21st Floor Premises shall be adjusted forward on a
day for day basis if and to the extent necessary to correspond to the actual 20th and 21st Floor Premises Commencement Date, as applicable. The foregoing notwithstanding, (1) if the 20th and 21st Floor Premises Commencement Date has not
occurred by September 1, 2017 for any reason, and provided such delay is not due to any “Tenant Delay” or “Force Majeure” (as such quoted terms are hereinafter defined), then once the 20th and 21st Floor Commencement Date
actually occurs, Tenant shall receive an abatement of Fixed Annual Rent with respect to the 20th Floor Premises and 21st Floor Premises equal to one-half of one day’s Fixed Annual Rent for each day from
and after September 1, 2017 until the 20th and 21st Floor Premises Commencement Date (and as applied to the 21st Floor Premises, the period that Tenant does not pay Fixed Annual Rent shall be extended accordingly) and (2) if the 20th and
21st Floor Premises Commencement Date has not occurred by October 1, 2017 for any reason, and provided such delay is not due to any Tenant Delay or Force Majeure, then once the 20th and 21st Floor Commencement Date actually occurs, Tenant shall
receive an abatement of Fixed Annual Rent with respect to the 20th Floor Premises and 21st Floor Premises equal to one day’s Fixed Annual Rent for each day from and after October 1, 2017 until the 20th and 21st Floor Premises Commencement
Date (and as applied to the 21st Floor Premises, the period that Tenant does not pay Fixed Annual Rent shall be extended accordingly). Landlord shall not be subject to any additional liability for penalties or damages for failure to substantially
complete Landlord’s Work by the 20th and 21st Floor Anticipated Commencement Date or any other date and the remedies set forth herein shall constitute Tenant’s sole remedies therefor. The provisions of this Article are intended to
constitute an “express provision to the contrary” within the meaning of Section 223(a) of the New York Real Property Law. 

  
 3 

 (B) “Landlord’s Work” shall have the meaning provided in
Exhibit B attached to and made a part of this Agreement. For purposes of this Agreement, Landlord’s Work shall be deemed to be “substantially complete” when such work has been completed, or would have been completed but for
Tenant Delay (as defined herein), except for non-material items, or so-called “punch list” items, the absence of which do not materially affect Tenant’s use or occupancy of the 20th Floor
Premises and 21st Floor Premises, whichever shall then be applicable, for the conduct of Tenant’s business therein. 
 (C) If
Landlord’s Work is not substantially completed by the 20th and 21st Floor Anticipated Commencement Date and is delayed by reason of any “Tenant Delay” (as hereinafter defined) which is not cured within one (1) business day after
Landlord shall give Tenant notice thereof, then Tenant shall pay Fixed Annual Rent and Additional Rent on a per diem basis for each day of delay of Landlord’s substantial completion beyond the 20th and 21st Floor Anticipated Commencement Date
caused by such Tenant Delay. For purposes hereof, (x) “Tenant Delay” means any delay which Landlord may encounter in the performance of Landlord’s obligations under this Lease to the extent that Landlord encounters such
delay by reason of any act or omission of any nature of Tenant, Tenant’s agents, designers, architects, contractors or other vendors, including, without limitation, delays due to changes in or additions to Landlord’s Work requested by
Tenant, delays by Tenant in submission of information or giving authorizations or approvals or delays due to the postponement of any of Landlord’s Work at the request of Tenant; and (y) “Force Majeure” shall mean acts of God,
shortages of labor or materials, war, terrorist acts or activities, strikes, riots, governmental laws, regulations, or restrictions, or any other causes of any kind whatsoever which are beyond the reasonable control of Landlord. 

  
 4 

 (D) Notwithstanding anything to the contrary contained herein, immediately following
delivery of Landlord’s notice (which may be delivered verbally or by email) which shall be given at least ten (10) days prior to the 20th and 21st Floor Premises Commencement Date, Tenant shall be permitted to gain access to the 20th Floor
Premises and/or 21st Floor Premises, as may then be applicable, for the sole and exclusive purpose of (u) installing customary telephone or computer wiring therein to serve the 20th Floor Premises and/or 21st Floor Premises, as may then be
applicable, (v) performing work in the pantry, including adding a water line for refrigerators, installing refrigerators and new countertops, (w) adding furniture walls, (x) adding A/V Equipment, and (z) performing up to two
(2) core drills out of the IT room between the 20th Floor Premises and 21st Floor Premises, provided and on condition that (i) at all times Tenant complies fully with, and such access shall be governed by and subject to, all terms,
covenants and conditions of the Lease, except that notwithstanding the access to the 20th Floor Premises and/or 21st Floor Premises, as may then be applicable, afforded Tenant pursuant to this paragraph, Tenant shall not be responsible for the
payment of Fixed Annual Rent or Additional Rent to Landlord with respect to the 20th Floor Premises and/or 21st Floor Premises, as may then be applicable, until the 20th and 21st Floor Premises Commencement Date; and (ii) subject to the
provisions of Article 11 and Section 43.05 of the Lease, Tenant hereby indemnifies and agrees to defend and hold Landlord, its directors, officers, partners, members, employees, agents and representatives harmless from and against any claims,
costs, expenses, damages and liabilities whatsoever arising out of Tenant’s access to or presence at the 20th Floor Premises and/or 21st Floor Premises, as may then be applicable, in connection with the access afforded Tenant pursuant to this
paragraph; and (iii) subject to the provisions of Article 11 and Section 43.05 of the Lease, Tenant shall repair promptly, at Tenant’s sole cost and expense, in a good and workmanlike manner, using materials of a quality equal or
superior to those which were damaged, and in accordance with the requirements of the Lease, any and all damage to the 20th Floor Premises and/or 21st Floor Premises, as may then be applicable, or the Building arising out of Tenant’s access to
or presence at the 20th Floor Premises and/or 21st Floor Premises, as may then be applicable, in connection with the access afforded Tenant pursuant to this paragraph; and (iv) in the event that the presence of Tenant, or anyone claiming
through Tenant, their respective agents, representatives or servants in the 20th Floor Premises and/or 21st Floor Premises, in connection with the access afforded Tenant pursuant to this paragraph delays Landlord’s performance or completion of
Landlord’s Work to a date beyond the 20th and 21st Floor Anticipated Commencement Date, then Landlord’s time in which to substantially complete and thereafter complete such work shall be extended one (1) day for each day of such delay
and Tenant’s obligations to commence payment of Fixed Annual Rent and Additional Rent shall not be delayed as aresult thereof and Tenant’s remedies set forth in sub-paragraph (ii) (A) above
shall not apply to the extent thereof; and (v) any conflicts in staging or scheduling between (aa) Tenant’s wiring as permitted hereunder and (bb) Landlord’s performance or substantial completion of Landlord’s Work, shall be
resolved in each instance in favor of Landlord’s Work. Notwithstanding anything to the contrary contained herein, Tenant’s mere presence in the 20th Floor Premises and/or 21st Floor Premises pursuant to this paragraph shall not be deemed
Tenant’s acceptance of possession of the 20th Floor Premises and/or 21st Floor Premises, as may then be applicable, for the purposes of establishing the 20th and 21st Floor Premises Commencement Date. 

  
 5 

 (c) End of Term. Insofar as Tenant is accepting the 20th Floor Premises and 21st
Floor Premises in its “as-is” condition as of the date of this Agreement subject only to the performance of Landlord’s Work, Tenant shall not be obligated to remove any of the installations
existing in the 20th Floor Premises or 21st Floor Premises as of date of this Agreement, including without limitation, any internal staircases, or to remove any of Landlord’s Work upon the expiration or termination of the Term of the Lease with
respect to the 20th Floor Premises and 21st Floor Premises. 
  

	2.	 Fixed Annual Rent. 

(a) 20th Floor Premises. Effective as of the 20th and 21st Floor Premises Commencement Date, Tenant shall pay Fixed Annual Rent with
respect to the 20th Floor Premises at the rates and on the dates set forth in the schedule annexed to and made a part of this Agreement as Exhibit C-1. 

(b) 21st Floor Premises. Effective as of the 20th and 21st Floor Premises Commencement Date, Tenant shall pay Fixed Annual Rent with
respect to the 21st Floor Premises at the rates and on the dates set forth in the schedule annexed to and made a part of this Agreement as Exhibit C-2. 

(c) The dates set forth in Exhibits C-1 and C-2 hereof
setting forth the rates of Fixed Annual Rent payable on account of the 20th Floor Premises and 21st Floor Premises are based upon the 20th and 21st Floor Premises Commencement Date actually occurring on the 20th and 21st Floor Anticipated
Commencement Date and, if such dates do not correspond, the dates set forth on Exhibits C-1 and C-2 shall be adjusted forward on a day for day basis if and to the
extent necessary to correspond to the actual 20th and 21st Floor Premises Commencement Date and the applicable anniversary dates thereof shall also be so adjusted, but in no event shall the 20th and 21st Floor Expiration Date be adjusted. 

 

	3.	 Real Estate Tax Escalations. 

(a) 20th and 21st Floor Premises. Effective as of the 20th and 21st Floor Premises Commencement Date, the Lease shall be modified to
provide that Tenant shall also pay tax escalation as provided in Article 32 of the Lease with respect to the 20th Floor Premises and 21st Floor Premises, except that with respect to the 20th Floor Premises and 21st Floor Premises only: 

(i) For purposes of Article 32.01(a) of the Lease, the reference to the rentable square foot area of the Premises at line two (2) thereof
shall be deemed to refer to “25,838” with respect to the 20th Floor Premises and 21st Floor Premises. 

  
 6 

 (ii) For purposes of Article 32.0l(b)(i) of the Lease, the reference to “Tenant’s
Share” at line two (2) thereof shall be deemed to refer to “five and ninety hundredths percent (5.90%)” with respect to the 20th Floor Premises and 21st Floor Premises. 

(iii) For purposes of Article 32.0l(b)(iii) of the Lease the “Base Tax Year” with respect to the 20th Floor Premises and 21st Floor
Premises shall mean the New York City real estate fiscal tax year commencing on July 1, 2017 through June 30, 2018. 
  

	4.	 2020 Expiration Space. 

(a) Definitions. As used herein, the following terms shall have the following meanings. 

(i) “2020 Expiration Space” shall mean the 8th Floor Premises, 17th Floor Premises, 20th Floor Premises and 21st Floor
Premises; 
 (ii) “2021 Expiration Space” shall mean the First Sixteenth Floor Premises, Second Sixteenth Floor Premises and
Third Sixteenth Floor Premises; 
 (iii) “2020 Expiration Date” shall mean January 31, 2020; 

(iv) “2021 Expiration Date” shall mean August 31, 2021; and 

(v) “Stub Term” shall mean the nineteen (19) month period from the 2020 Expiration Date to the 2021 Expiration Date. 

(b) Short Term Extension Right. 

(i) Landlord and Tenant acknowledge that the 2020 Expiration Space and 2021 Expiration Space have different Expiration Dates under the Lease.
Provided Tenant is not then in default of its obligations under the Lease after the giving of any required notice and expiration of any applicable grace or cure period, and further provided the Named Tenant (and any Permitted Transferees and desk
space users) is occupying not less than eighty percent (80%) of the entire Premises for the conduct of its business at the time of its election, the Named Tenant shall have the right (the “Short Term Extension Right”) to extend the
Term of this Lease with respect to the 2020 Expiration Space for the Stub Term to the 2021 Expiration Date by delivering written notice of the exercise thereof (the “Short Term Extension Notice”) to Landlord no later than
January 31, 2019, time being of the essence. The Short Term Extension Right shall apply only to the 2020 Expiration Space in its entirety. 

  
 7 

 (ii) Should Tenant be entitled to and exercise the Short Term Extension Right as herein
provided, then the Term of the Lease with respect to the 2020 Expiration Space shall be deemed extended to the 2021 Expiration Date on all the terms, covenant and conditions of the Lease, except as follows: 

(A) Fixed Annual Rent. The Fixed Annual Rent for the 2020 Expiration Space for the Stub Term shall be as set forth on Exhibit C-3 annexed hereto; 
 (B) Operating Expenses. Tenant shall not be obligated to pay for
increases in Expenses pursuant to Article 49 of the Lease for the 2020 Expiration Space during the Stub Term. The foregoing shall not be deemed to relieve Tenant of its obligation to pay for increases in Expenses pursuant to Article 49 of the Lease
accruing up to the 2020 Expiration Date; and 
 (C) Real Estate Taxes. The “Base Tax Year” during the Stub Term for the
2020 Expiration Space for purposes of Article 32.01 (b) (iii) shall mean calendar year 2018 (i.e., the average of (x) the Real Estate Taxes for the New York City real estate fiscal tax year commencing on July 1, 2017 through
June 30, 2018 and (y) the Real Estate Taxes for the New York City real estate fiscal tax year commencing on July 1, 2018 through June 30, 2019) 

(iii) Except as expressly set forth above, all of the terms, covenants and conditions of the Lease as amended by this Agreement shall continue
in full force and effect during the Stub Term, including items of Additional Rent. In the event that Tenant shall fail to give the Short Term Extension Notice to Landlord on or prior to January 31, 2019, then Tenant shall be deemed to have
waived its Short Term Extension Right hereunder. Landlord shall have the right, in its sole discretion, to waive any or all of the foregoing conditions to Tenant’s exercise of its Short Term Extension Right. Upon the giving of the Short Term
Extension Notice, Tenant shall have no further right or option to extend or renew the Term, except as set forth in Article 50 of the Lease (which the parties have nevertheless agreed does not apply to the 20th Floor Premises or 21st Floor Premises).
Tenant’s failure to timely exercise its Short Term Extension Right in compliance with all of the requirements of this provision shall be deemed a waiver of Tenant’s Short Term Extension Right hereunder. 

  
 8 

	5.	 Miscellaneous Lease Modifications. 

(a) Additional Security Deposit. Landlord is in receipt of the sum of $913,488.00 representing the existing security deposit under the
Lease (herein, the “Existing Security Deposit”). Upon execution of this Agreement, Tenant shall deposit with Landlord the additional sum of $585,664.00 (the “Fourth Modification Additional Security”) which shall be
held by Landlord in addition to the Existing Security Deposit presently held by Landlord as additional security for the performance of Tenant’s obligations accruing under the Lease, as modified by this Agreement. The Fourth Modification
Additional Security shall be held and applied by Landlord in accordance with the provisions of Article 31 of the Lease; provided, however, the provisions of Article 31.02 shall not apply to the Fourth Modification Additional Security and the Fourth
Modification Additional Security shall not be subject to any reduction as provided for therein with respect to the Security originally posted by Tenant thereunder. Tenant may deposit cash for the Fourth Modification Additional Security and
thereafter Tenant may replace all or part of either the Existing Security Deposit or the Fourth Modification Additional Security with a Letter of Credit reasonably acceptable to Landlord at which time the corresponding amount of cash security shall
be promptly returned to Tenant. 
 (b) Electricity. Electricity shall be supplied to the 20th Floor Premises and 21st Floor Premises
in accordance with the following. 
 41.01 Tenant acknowledges and agrees that electric service shall be purchased by Tenant for the 20th
Floor Premises and 21st Floor Premises directly from the public utility serving the Building and measured by a one or more electric meters which Landlord shall install, at Landlord’s sole cost and expense, at or prior to the 20th and 21st Floor
Premises Commencement Date. Subject to causes beyond its reasonable control, Landlord agrees to make available to Tenant for use within the each of the 20th Floor Premises and 21st Floor Premises only, an average demand load of six (6) watts of
electricity per rentable square foot for all purposes, exclusive of the Existing HVAC Equipment. Except and to the extent same results from the negligence or willful misconduct of Landlord, its employees, agents or contractors, (however, under no
circumstances shall Landlord be liable for any consequential or special damages), Landlord shall not be liable to Tenant for any loss or damage or expense which Tenant may sustain or incur if either the quantity or character of electric service is
changed or is no longer available or suitable for Tenant’s requirements; provided, however, that Tenant shall have such remedies as are provided for in Section 10.03 of the Lease. Tenant covenants and agrees that at all times its use of
electric current shall never exceed the capacity of existing feeders to the Building or wiring installation, which Landlord represents are sufficient to deliver the average demand load of six (6) watts of electricity as referenced above.
Landlord reserves the right to terminate Tenant’s use of electric service in the event of emergency, if necessary in connection with the performance of any improvements, repairs or maintenance to the Building or if required by law, in which
event the Lease shall remain in full force and effect and Tenant shall have no claim against Landlord for damages, set-off or abatement. Tenant covenants and agrees that at all times its use of electric
service shall never exceed the capacity of existing Building facilities. 
 41.02 At the option of Landlord, Tenant agrees to purchase from
Landlord or its agents all lamps and bulbs used in the 20th Floor Premises and 21st Floor Premises, and to pay for the cost of installation thereof, provided that all such lamps, bulbs and installation are competitively priced and that such services
are furnished in a timely and competent manner. Except and to the extent same results from the negligence or willful misconduct of Landlord, its employees, agents or contractors, (however, under no circumstances shall Landlord be liable for any
consequential or special damages), Landlord shall not be liable to Tenant for any loss or damage or expense which Tenant may sustain or incur if either the quantity or character of electric service is changed or is no longer available or suitable
for Tenant’s requirements; provided, however, that Tenant shall have such remedies as are provided for in Section 10.03 of the Lease. Any riser or risers to supply Tenant’s additional electrical requirements, upon written request of
Tenant, will be installed by Landlord, at the sole cost and expense of Tenant, if, in Landlord’s sole judgment, the same are necessary and will not cause permanent damage or injury to the Building or the 20th Floor Premises or 21st Floor
Premises or cause or create a dangerous or hazardous condition or entail excessive or unreasonable alterations, repairs or expense or interfere with or disturb other tenants or occupants. In addition to the installation of such riser or risers,
Landlord will also at the sole cost and expense of Tenant, install all other equipment proper and necessary in connection therewith subject to the aforesaid terms and conditions. 

  
 9 

 (c) Freight Elevator. 

(i) 20th Floor Premises and 21st Floor Premises Only. Effective as of the 20th and 21st Floor Premises Commencement Date, Article 30.01
B of the Lease is hereby deleted in its entirety and replaced with the following: with respect only to the 20th Floor Premises and 21st Floor Premises. “Tenant may use one (1) freight elevator car free of charge on an “after
hours” basis solely in connection with its construction and furnishing of and initial move into the 20th Floor Premises and/or 21st Floor Premises, provided that (a) such use does not exceed thirty (30) hours in the aggregate for each
such space (provided that if such usage exceeds thirty (30) hours in the aggregate for each such space, Tenant shall pay to Landlord, as Additional Rent within twenty (20) days after demand, an amount equal to the standard freight charges
of the Building for such excess usage); and (b) Tenant reserves said freight elevator car upon at least twenty-four (24) hours notice”. 

(d) Air Conditioning. 
 (i)
20th Floor Premises and 21st Floor Premises. Commencing as of the 20th and 21st Floor Premises Commencement Date, air-conditioning shall be supplied to the 20th Floor Premises and 21st Floor Premises,
respectively, in accordance with the following. 
 (A) Landlord shall make available to Tenant, and Tenant shall be permitted to use, the
base Building equipment presently supplying air-conditioning service to the 20th Floor Premises and 21st Floor Premises, respectively (the “Existing HVAC Equipment”) Monday to Friday from 8:00 a.m.
to 6:00 p.m. (i) during the Building’s “Cooling Season” (which is currently May 15 through October 15) for those portions of the Existing HVAC Equipment serving the perimeter portions of the 20th Floor Premises and 21st Floor
Premises, respectively, and (ii) three hundred sixty-five (365) days a year for those portions of the Existing HVAC System serving the interior portions of the 20th Floor Premises and 21st Floor Premises, respectively, in each instance
subject to and in accordance with the provisions of this Article. Landlord represents that as of the 20th and 21st Floor Premises Commencement Date with respect to the 20th Floor Premises and the 21st Floor Premises, the Existing HVAC Equipment is
or will be in working order and has or will have a cooling capacity which is appropriate for normal office use and normal occupancy density, to wit: the Existing HVAC Equipment is designed to make available a capacity of one (1) ton of HVAC per
300 usable square feet, and is designed to deliver a summer-winter temperature of between 72 and 78 degrees Fahrenheit. Landlord shall repair and maintain the Existing HVAC Equipment in good working order and condition, at Landlord’s cost and
expense; provided, however, that all other air conditioning systems, equipment and facilities hereafter located in or servicing the 20th Floor Premises or 21st Floor Premises, as applicable (the “Supplemental Systems”) including, without
limitation, the ducts, dampers, registers, grilles and appurtenances utilized to distribute conditioned air within the 20th Floor Premises or 21st Floor Premises, as applicable, in connection with both the Existing HVAC Equipment and/or the
Supplemental Systems (collectively hereinafter referred to as the “HVAC System”), shall be maintained, repaired and operated by Tenant in compliance with all present and future laws and regulations relating thereto at Tenant’s sole
cost and expense. Tenant shall pay for all electricity consumed in the operation of the HVAC System (and/or water, gas and steam) for the production of chilled and/or condenser water and its supply to the 20th Floor Premises or 21st Floor Premises,
if applicable, which shall become the obligation of Tenant subject to the terms of Article 41 of the Lease with respect to the 20th Floor Premises and 21st Floor Premises, as applicable (as expressly set forth in Section 4 (b) of this
Agreement). Tenant shall pay for all parts and supplies necessary for the proper operation of the HVAC System (and any restoration or replacement by Tenant of all or any part thereof shall be in quality and class at least equal to the original work
or installations); provided, however, that Tenant shall not alter, modify, remove or replace the HVAC System, or any part thereof, without Landlord’s prior written consent. 

  
 10 

 (B) Without limiting the generality of the foregoing, Tenant shall, at its own cost and
expense, (a) cause to be performed all maintenance of the HVAC System (other than the Existing HVAC Equipment), including all repairs and replacements thereto, and (b) commencing as of the 20th and 21st Floor Premises Commencement Date and
thereafter throughout the Term of the Lease, maintain in force and provide a copy of same to Landlord an air conditioning service repair and full service maintenance contract covering the HVAC System (other than the Existing HVAC Equipment) in form
reasonably satisfactory to Landlord with an air conditioning contractor or servicing organization approved by Landlord. All such contracts shall provide for the thorough overhauling of the HVAC System (other than the Existing HVAC Equipment) at
least once each year during the Term of this Lease and shall expressly state that (i) it shall be an automatically renewing contract terminable upon not less than thirty (30) days prior written notice to Landlord (sent by certified mail,
return receipt requested) and (ii) the contractor providing such service shall maintain a log at the 20th Floor Premises or 21st Floor Premises detailing the service provided to any HVAC Systems during each visit pursuant to such contract.
Tenant shall keep such log at the 20th Floor Premises or 21st Floor Premises and permit Landlord to review same promptly after Landlord’s request. The HVAC System is and shall at all times remain the property of Landlord, and at the expiration
or sooner termination of the Lease, Tenant shall surrender to Landlord any Supplemental Systems in good working order and condition, subject to normal wear and tear and shall deliver to Landlord a copy of the service log. In the event that Tenant
fails to obtain the contract required herein or perform any of the maintenance or repairs required hereunder, Landlord shall have the right, but not the obligation, to procure such contract and/or perform any such work and charge Tenant as
Additional Rent hereunder the cost of same plus an administrative fee equal to five (5%) percent of such cost which shall be paid for by Tenant on demand. 

  
 11 

 (ii) Overtime HVAC. Provided Landlord receives advance notice from Tenant not later
than 2:00 p.m. on a business day (i.e., Monday through Friday, holidays excluded) during the Cooling Season for evening service on the same business day and not later than 2:00 p.m. on the preceding business day for service on a non-business day, Landlord shall make available to Tenant and Tenant shall be permitted to use either the Existing HVAC Equipment servicing the Existing Premises, 20th Floor Premises and/or 21st Floor Premises on a floor-by-floor basis during hours and days beyond Monday through Friday from 8:00 a.m. to 6:00 p.m., provided Tenant shall pay the Landlord, as Additional Rent, the sum of $80.00 per hour per floor for such usage
within twenty (20) days after demand. 
 (e) Cancellation Right. The Cancellation Right set forth in Article 51 of the Lease
shall not apply with respect to the 20th Floor Premises or 21st Floor Premises. 
 (f) Renewal Option. The Extension Right set forth
in Article 50 of the Lease, or any of the Modifications thereto, shall not apply to the 20th Floor Premises or 21st Floor Premises. 
 (g)
Assignment and Subletting. Effective as of the 20th and 21st Floor Premises Commencement Date, Article 4 of the Lease shall be deemed amended as follows: 

(A) Related Entity. Sub-section 4.13 B. shall be deemed deleted in its entirety and the
following substituted in lieu thereof: 
 “B. the term “control” shall mean, in the case of a corporation or other entity,
ownership or voting control, directly or indirectly, of at least fifty (50%) percent of all of the general or other partnership (or similar) interests therein and the power to determine the actions of such entity, except that with respect to a
sublease of less than all or substantially all of the Premises, the reference above to fifty percent (50%) shall be deemed reduced to twenty-five percent (25%).” 

  
 12 

 (B) Desk Space Users. Section 4.14 of the Original Lease shall be deemed deleted
and the following substituted in lieu thereof: 
 “4.14 Notwithstanding anything contained in this Lease to the contrary, Tenant shall
be permitted to license up to twenty percent (20%) of the Premises of “desk space” within the Premises for the uses permitted under this Lease only and otherwise in compliance m all respects with the terms, covenants and conditions of this
Lease, provided that·(i) any such “desk space” so licensed by Tenant is not separately demised and does not have separate means of ingress to or egress from the public corridors of the Building; and (ii) a copy of each
“desk space” license agreement is delivered to Landlord no less than ten (10) days in advance of the commencement date thereof (or, if no such written agreement exists, Tenant shall deliver to Landlord a written description of the
terms of such oral license agreement), including, but not limited to, the identity of and contact information for each “desk space” licensee. In the event of a licensing of “desk space” by Tenant in accordance with the provisions
of this Section 4.14, the “recapture” and termination rights of Landlord under this Article 4 and the provisions of Sections 4.02, 4.03, 4.04, 4.05, 4 07(vi),(vii) and 4.10 shall not apply, but the provisions of Section 4.07 (i)
through (v) and (viii) through (x) shall apply thereto as if all references therein to a “sublease” or “assignment” were, instead, to a “license”.” 

(h) Tenant shall be permitted to perform the work described in Paragraph l(b)(ii)(D) above and shall be entitled to utilize the existing two
(2) core drills in the big conference room on the 20th Floor Premises for conference table purposes. 
  

	6.	 Successors and Assigns 

This Agreement shall be binding upon and inure to the benefit of the parties and their respective successors and permitted assigns. 

 

	7.	 Entire Agreement. 

The Lease, as modified by this Agreement, represents the entire understanding between the parties with regard to the matters addressed herein
and may only be modified by a written agreement executed by all parties hereto. All prior understandings or agreements between the parties hereto, oral or written, with regard to the matters addressed herein, other than the Lease, are hereby merged
herein. Tenant acknowledges that neither Landlord nor any representative or agent of Landlord has made any representation or warranty, express or implied, as to the physical condition, state of repair, layout, footage or use of the 20th Floor
Premises or 21st Floor Premises or any matter or thing affecting or relating to the 20th Floor Premises or 21st Floor Premises except, as specifically set forth in this Agreement. Tenant has not been induced by and has not relied upon any statement,
representation or agreement, whether express or implied, not specifically set forth in this Agreement. Landlord shall not be liable or bound in any manner by any oral or written statement, broker’s
“set-up,” representation, agreement or information pertaining to the 20th Floor Premises, 21st Floor Premises or this Agreement furnished by any real estate broker, agent, servant, employee or other
person, unless specifically set forth herein, and no rights are or shall be acquired by Tenant by implication or otherwise unless expressly set forth herein. 

  
 13 

	8.	 Effectiveness. 

Landlord and Tenant agree that this Agreement is submitted to Tenant on the understanding that it shall not be considered an offer and shall
not bind Landlord or Tenant in any way unless and until: (i) Tenant has duly executed and delivered duplicate originals hereof to Landlord; and (ii) Landlord has executed and delivered one of said originals to Tenant. 

 

	9.	 Ratification. 

Except as specifically modified herein, all other terms, covenants and conditions of the Lease are and shall remain in full force and effect
and are hereby ratified and confirmed. 
  

	10.	 No Brokers/Indemnification. 

(a) Tenant covenants, represents and warrants that Tenant has had no dealings or negotiations with any broker or agent in connection with the
consummation of this Agreement other than Avison Young and Cushman & Wakefield, Inc. (collectively, the “Brokers”) and Tenant covenants and agrees to defend, hold harmless and indemnify Landlord from and against any and all
cost, expense (including reasonable attorneys’ fees) or liability for any compensation, commissions or charges claimed by any broker or agent (other than the Brokers) with whom Tenant has dealt with respect to this Agreement or the negotiation
thereof. 
 (b) Landlord covenants, represents and warrants that Landlord has had no dealings or negotiations with any broker or agent in
connection with the consummation of this Agreement other than the Brokers, and Landlord covenants and agrees to defend, hold harmless and indemnify Tenant from and against any and all cost, expense (including reasonable attorneys’ fees) or
liability for any compensation, commissions or charges claimed by any broker or agent, including Brokers, with whom Landlord has dealt with respect to this Agreement or the negotiation thereof. Landlord agrees to pay any commissions due the Brokers
in connection with this Agreement, pursuant to a separate agreement(s). 
  

	11.	 Miscellaneous. 

(a) The captions in this Agreement are for convenience of reference only and are not to be considered in construing this Agreement. 

(b) This Agreement shall be construed without regard to any presumption or other rule requiring construction against the party causing this
Agreement to be drafted. 
 (c) Terms used in this Agreement and not otherwise defined herein shall have the respective meanings ascribed
thereto in the Lease. 

  
 14 

 (d) If any provision of this Agreement or its application to any person or circumstances is
invalid or unenforceable to any extent, the remainder of this Agreement, or the applicability of such provision to other persons or circumstances, shall be valid and enforceable to the fullest extent permitted by law and shall be deemed to be
separate from such invalid or unenforceable provisions and shall continue in full force and effect. 
 (e) This Agreement may be executed and
delivered in any number of counterparts, each of which so executed and delivered shall be deemed to be an original and all of which shall constitute one and the same instrument. Electronic, facsimile or
e-mailed signatures shall be deemed original signatures for the purposes hereof, provided that the party providing such electronic, facsimile or e-mailed signature shall
deliver an original counterpart of such signature to the other party within five (5) business days thereafter. 
 [THE REMAINDER OF THIS
PAGE IS INTENTIONALLY LEFT BLANK] 

  
 15 

 IN WITNESS WHEREOF, Landlord and Tenant have duly executed this Agreement as of the
date first above written. 
  

			
	LANDLORD:
	
	AKCO T45 LLC, a Delaware limited liability company
		
	By:	 	 /s/ Steven Levy

		 	Name: Steven Levy
		 	Title: Managing Member
	
	33RD T45 LLC, a Delaware limited liability company
		
	By:	 	 /s/ Steven Levy

		 	Name: Steven Levy
		 	Title: Managing Member
		
		 	(As Tenants-In-Common)
	
	TENANT:
	
	SCHRÖDINGER, INC.,
	a Delaware corporation
		
	By:	 	 /s/ Ramy Farid

		 	Name: Ramy Farid
		 	Title: President & CEO

  
 16 

 EXHIBIT A-1 

20th FLOOR PREMISES 
  

 
 [not necessarily representative of current conditions or to scale] 

  
 A-1-1 

 EXHIBIT A-2 

21st FLOOR PREMISES 
  

 
 [not necessarily representative of current conditions or to scale] 

  
 A-2-1 

 EXHIBIT B 

LANDLORD’S WORK 

As used herein, “Landlord’s Work” shall mean Landlord at its sole cost, shall deliver the 20th Floor Premises and 21st Floor
Premises in compliance with all applicable codes, regulations pursuant to all federal, state, and local governmental laws and regulations including without limitation the Americans with Disabilities Act, and in the following condition: 

 

	 	1	 Paint the entire 20th Floor Premises and 21st Floor Premises (color to match Tenant’s existing 16th floor
premises), 

  

	 	2	 Install brand new building standard carpet throughout the 20th Floor Premises and 21st Floor Premises
(consistent with Tenant’s existing 16th floor premises), 

  

	 	3	 Re-Finish existing glass front mullions consistent with silver paint
finishes located on newly refurbished offices in the 20th Floor Premises and 21st Floor Premises, 

  

	 	4	 Install One (1) additional electrical quad box per office in the 20th Floor Premises and 21st Floor
Premises, 

  

	 	5	 Remove “stone wall” in reception area in the 20th Floor Premises and 21st Floor Premises and prepare
for painting and remove stone from flooring, 

  

	 	6	 re-lamp all brown or blown bulbs and
non-conforming bulbs with new lamps of consistent type bulbs for uniform look, 

  

	 	7	 repair the broken closet door on the 20th floor; 

 

	 	8	 finish the bathroom upgrades in the existing restrooms on the 20th Floor and 21st Floor in a manner consistent
with the Building standard bathroom upgrades being performed elsewhere in the Building, including fixture replacement; and 

  

	 	9	 perform drilling in service closets between Tenant’s 17th Floor Premises and the 20th Floor Premises and
21st Floor Premises to allow the Tenant, at its expense, to run electrical risers to the 20th Floor Premises and 21st Floor Premises. 

  
 B-1 

 EXHIBIT C-1 

FIXED ANNUAL RENT SCHEDULE 

20TH FLOOR PREMISES 

 

					
	
Dates
  
	 	
Annual Fixed Rent
  
	 	
Monthly Base Rent
  

	
8/1/2017-7/31/2018

 
	 	 $878,492.00

 
	 	 $73,208.00

 

	
8/1/2018-7/31/2019

 
	 	 $896,064.00

 
	 	 $74,672.00

 

	
8/1/2019-1/31/2020

 
	 	 $913,980.00

 
	 	 $76,165.00

 

  
 C-1-1 

 EXHIBIT C-2 

FIXED ANNUAL RENT SCHEDULE 

21ST FLOOR PREMISES 

 

					
	
Dates
  
	 	
Annual Fixed Rent
  
	 	
Monthly Base Rent
  

	
8/1/2017-9/30/2017

 
	 	 $0.00

 
	 	 $0.00

 

	
10/1/2017-7/31/2018

 
	 	 $878,492.00

 
	 	 $73,208.00

 

	
8/1/2018-7/31/2019

 
	 	 $896,064.00

 
	 	 $74,672.00

 

	
8/1/2019-1/31/2020

 
	 	 $913,980.00

 
	 	 $76,165.00

 

  
 C-2-1 

 EXHIBIT C-3 

SHORT TERM EXTENSION RENTS 

8th Floor Premises 
  

					
	 Dates

 
	 	 Annual Fixed Rent

 
	 	
Monthly Base Rent
  

	
2/1/2020-9/30/2021

 
	 	 $700,056.00

 
	 	
$58,338.00
  

	
10/1/2021-8/31/2021

 
	 	 $714,084.00

 
	 	 $59,507.00

 

 17th Floor Premises 
  

					
	 Dates

 
	 	 Annual Fixed Rent

 
	 	
Monthly Base Rent
  

	
2/1/2020-9/30/2021

 
	 	 $896,064.00

 
	 	
$74,672.00
  

	
10/1/2021-8/31/2021

 
	 	 $914,016.00

 
	 	 $76,168.00

 

 20th Floor Premises 
  

					
	 Dates

 
	 	 Annual Fixed Rent

 
	 	
Monthly Base Rent
  

	
2/1/2020-7/31/2020

 
	 	 $932,256.00

 
	 	
$77,688.00
  

	
8/1/2020-7/31/2021

 
	 	 $950,904.00

 
	 	 $79,242.00

 

	
8/1/2021-8/31/2021

 
	 	 $969,924.00

 
	 	 $80,827.00

 

 21st Floor Premises 
  

					
	 Dates

 
	 	 Annual Fixed Rent

 
	 	
Monthly Base Rent
  

	
2/1/2020-7/31/2020

 
	 	 $932,256.00

 
	 	
$77,688.00
  

	
8/1/2020-7/31/2021

 
	 	 $950,904.00

 
	 	 $79,242.00

 

	
8/1/2021-8/31/2021

 
	 	 $969,924.00

 
	 	 $80,827.00

 

  
 C-3-1 

 EXHIBIT D 

CONFIRMATORY AGREEMENT 

__________, 2017 
 Schrödinger, Inc. 

120 West 45th Street-17th floor 
 New York, New York 10036 

 

	 	Re:	 Fourth Modification and Additional Space Agreement dated as of April ___, 2017 by and between AKCO T45 LLC and
33rd T45 LLC, as Tenants in common as Landlord, and Schrödinger, Inc., as Tenant. 

Premises: The twentieth (20th) and twenty-first (21st) floors at 

120 West 45th Street, New York, New York.
                                         
                                         
                       
 Dear Sir or
Madam: 
 All capitalized terms used herein shall have the meanings ascribed to such terms in the Fourth Modification and Additional Space
Agreement. 
 In accordance with Paragraph_ of the Fourth Modification and Additional Space Agreement, please be advised that the
Landlord’s Work in the 20th Floor Premises and 21st Floor Premises will be Substantially Complete on: _______________________, and as such, the following terms under the Fourth Modification and Additional Space Agreement shall have the
following meanings: 
  

	 	(i)	 the “20th Floor and 21st Floor Premises Commencement Date” shall mean [August 1, 2017]; and

  

	 	(ii)	 the “Expiration Date” shall mean [January 31, 2020]. 

Kindly execute this letter in the space provided below and return a signed copy of this letter to me to acknowledge your agreement to the
foregoing. 
 If you have any questions, please do not hesitate to contact me. 

 

			
	Landlord:
	 AKCO T45 LLC and 33rd T45 LLC,

as Tenants in Common, as Landlord

 
			
		
	By:	 	  

		
	By:	 	  

  

			
	Acknowledged and Agreed:
	
	Schrödinger, Inc.

			
		
	By:	 	  

	Name:
	Title:

  
 D-1Exhibit

EMPLOYMENT AGREEMENT

This EMPLOYMENT AGREEMENT (this “Agreement”) made and entered into as of the 9th day of January, 2020, by and between AZZ Inc., a Texas corporation (the “Company”), and Ken Lavelle (“Executive”).

WITNESSETH

WHEREAS, the Executive is currently serving as President and General Manager – Electrical, which within the Energy Segment of the Company; and

WHEREAS, in connection with the current CEO’s retention plan, and in an effort for the Company to retain critical business talent, the Company now desires to enter into this Agreement with the Executive, upon the terms and conditions hereinafter set forth;

WHEREAS, in connection with the Agreement, the Company further desires to grant the Executive the following one-time retention equity awards in connection with the Executive entering into this Agreement, 10,000 Restricted Stock Units (“RSUs”) that will be granted and have a grant date that is on the first open trading day following the Company’s release of its fiscal year 2020 second quarter earnings and will vest in full on November 1, 2022, if Executive is still employed at the Company on November 1, 2022, subject to the terms and conditions as set forth in each equity award agreement and the Company’s 2014 Long Term Incentive Plan;

NOW THEREFORE, in consideration of the mutual covenants set forth below, and intending to be legally bound hereby, it is hereby agreed as follows:

ARTICLE I 
Employment
1.01    Employment Term.  The Company agrees to continue to employ Executive, and Executive agrees to be so continually employed, in the capacity as President and General Manager − Electrical of the Company, for a term commencing on the date hereof and ending on the third anniversary of the date hereof; provided, however, that, commencing on the day after the third anniversary of the date hereof and on each one year anniversary thereafter, the term shall automatically be extended for one additional year unless either the Company or Executive gives written notice to the other at least one hundred twenty (120) days before such extension would otherwise occur of the Company’s or Executive’s election not to extend the term; provided, further, that notwithstanding anything to the contrary set forth in this Agreement, this Agreement may be earlier terminated pursuant to the terms hereof.  “Employment Term” as used herein shall mean the duration of Executive’s employment by or service to the Company, whether in the capacity of an independent contractor or consultant, on an at-will employment basis, or under this Agreement, without giving effect to any extensions thereof not yet effected, and regardless of any change in Executive’s status or the capacity in which he is employed by or serves the Company.  

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1.02    Position and Duties.  Executive shall (in accordance with Section 6.01 hereof) diligently and conscientiously continue to devote Executive’s full business time, attention, energy, skill and best efforts to the business of the Company and the discharge of Executive’s duties hereunder.  Executive’s duties under this Agreement shall be to continue to serve as President and General Manager − Electrical with the responsibilities, rights, authority and duties customarily pertaining to such offices and as may be established from time to time by or under the direction of the board of directors of the Company, or the board of directors or other governing body of any successor entity to the Company (collectively, the “Board”), or its designees.  Executive shall also act as an officer, director and/or manager of such Affiliates (as defined below) of the Company as may be designated by the Board from time to time, commensurate with Executive’s office, all without further compensation other than as provided in this Agreement.  As used herein, “Affiliate” means any entity that directly or indirectly controls, is controlled by, or is under common control with, the Company.
1.03    Place of Employment.  Executive’s place of employment shall be Fort Worth, Texas.
ARTICLE II     
Compensation
2.01    Base Salary.  The Company shall continue to pay Executive an annual base salary   of Three Hundred Nineteen Thousand Eight Hundred and Fifteen Dollars ($319,815.00) payable semi-monthly and otherwise in accordance with the regular payroll practices of the Company.  At least annually, the CEO along the Board, and/or the Compensation Committee thereof (the “Committee”), shall consider and review the contributions of the Executive to the Company, and may, in its sole collective discretion,  make adjustments to such annual base salary by an amount it determines to be appropriate.  Executive’s annual base salary payable hereunder, as it may be maintained or changed from time to time in accordance herewith, is referred to herein as “Base Salary.”  
2.02    Executive Incentive Bonus.  Executive shall continue to be eligible to receive an annual cash incentive bonus under the Company’s Senior Management Bonus Plan, as may be implemented and modified from time to time by the Company.  The Committee shall have the right to interpret and to construe the terms and provisions of any such plan, and the actions of the Committee in this regard shall be final and conclusive.    Executive’s annual cash incentive bonus shall be determined by the Committee based upon the Company’s pre-determined  performance metrics  related to annual business objectives and the Executive’s individual performance goals, with the Executive’s current target amount for Fiscal Year 2020 being equal to One Hundred Seventy-Five Thousand Eight Hundred and Ninety-Eight Dollars ($175,898.00) or fifty-five percent (55%) of Executive’s Base Salary as of the first day of such fiscal year and the maximum amount of such annual cash incentive bonus to be equal to two hundred percent (200%) of the target annual bonus amount.  Executive’s annual cash incentive bonus shall be subject to Section 9.10 of this Agreement.
2.03    Equity Awards.  Executive shall continue to be eligible to receive annual equity awards (including, without limitation, stock appreciation rights, stock options, restricted stock units (“RSUs”), performance share units (“PSUs”) and restricted shares) under the AZZ Inc. 2014 Long Term Incentive Plan, as amended, may subsequently be amended, or any similar equity 

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compensation plan subsequently adopted by the Company and its shareholders (each, an “Equity Plan” and collectively, the “Equity Plans”).  The amount and nature of such awards shall be determined at least annually by the Board and/or the Committee, in their sole and absolute discretion.  Upon execution of this Agreement, Executive will be granted a one-time equity award of Ten Thousand (10,000) RSUs of the Company’s common stock on the first open trading day following the Company’s release of its fiscal year 2020 second quarter earnings (the “Grant Date”) which shall cliff vest in full on November 1, 2022, if the Executive is still employed at the Company on November 1, 2022 (referred to herein as the “Execution Award”).  For the Company’s fiscal year which will end February 29, 2020, Executive received (a) a combination of s PSUs and RSUs with a target value of Two Hundred Fifty Thousand Dollars ($250,000.00), such awards were comprised fifty percent (50%) of PSUs and fifty percent (50%) of RSUs on May 22, 2019.  Executive will receive similar annual equity awards hereunder, subject to the Committee’s sole discretion.  For the avoidance of doubt, all such equity awards, shall be governed by the terms of the applicable Equity Plan under which such awards are granted as evidenced by the award agreements between the Company and Executive with respect to such awards.  Without limiting the generality of the immediately preceding sentence, the Company and Executive acknowledge and agree that all award agreements with respect to Executive hereunder shall provide that such award agreements shall be subject to forfeiture by Executive only upon the termination of Executive’s employment hereunder by the Company pursuant to Section 3.02(a) or by Executive pursuant to Section 3.03(b) and be subject to Section 9.10 of this Agreement.
2.04    Benefits.  Executive shall be eligible to participate in all other employee benefit programs of the Company offered from time to time during the Employment Term by the Company to employees or executives of Executive’s rank, to the extent that Executive qualifies under the eligibility provisions of the applicable plan or plans, in each case consistent with the Company’s then-current practice as approved by the Board and/or the Committee from time to time.  The foregoing shall not be construed to require the Company to establish such plans or to prevent the modification or termination of such plans once established, and no such action or failure thereof shall affect this Agreement.  Executive recognizes that the Company and its Affiliates have the right, in their sole discretion, to amend, modify or terminate their benefit plans without creating any rights in Executive.
2.05    Vacation.  Executive shall be entitled to four (4) weeks of paid vacation per fiscal year of the Company.
2.06    Business Expenses.  To the extent that Executive’s reasonable and necessary expenditures for travel, entertainment and similar items made in furtherance of Executive’s duties under this Agreement comply with the Company’s travel and expense reimbursement policy and are documented as required by the immediately following sentence, the Company shall promptly reimburse Executive for such expenditures. Executive shall document and substantiate all such expenditures, including an itemized list of all expenses incurred, the business purposes for which such expenses were incurred, and all receipts related thereto, and shall submit such items in accordance with Company policy.

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2.07    Life Insurance Benefits.  The Company shall pay the premiums allocable to a term life insurance policy in the face amount of one times Executive’s annual base salary covering Executive as the named insured, subject to Executive passing a standard physical examination in order to permit issuance of the policy at standard (non-rated) premiums and satisfaction of any other standard underwriting requirements. Executive shall be the owner of such policy and shall have the right to designate the beneficiary of the policy proceeds. Executive shall be liable for income taxes with respect to premium amounts includable in Executive’s taxable income.
ARTICLE III     
Termination of Employment
3.01    Death or Disability.  
(a)    In the event of Executive’s death during the Employment Term, the Employment Term shall automatically terminate.
(b)    The Company shall have the right to terminate the Employment Term in the event of Executive’s Disability.  “Disability” means that Executive has been unable, for ninety (90) consecutive days or for periods aggregating one hundred and twenty (120) business days in any period of twelve (12) consecutive months, to perform Executive’s duties under this Agreement as a result of physical or mental impairment, illness or injury, as determined in good faith by a majority of the Board.  A termination of Executive’s employment for Disability shall be communicated to Executive by written notice and shall be effective on the tenth (10th) day after receipt of such notice by Executive (the  “Disability Effective Date”), unless Executive is able to perform the essential functions of his job, with or without a reasonable accommodation, before the Disability Effective Date.  
3.02    By the Company.  
(a)    The Company shall have the right to terminate the Employment Term for Cause.  “Cause” as used in this Agreement shall mean (i) Executive’s commission or conviction of, or the entering of a guilty plea or plea of no contest by Executive with respect to, a felony, the equivalent thereof, any other crime with respect to which imprisonment is a possible punishment, or any other crime involving moral turpitude, fraud, misrepresentation, embezzlement, theft or sexual harassment; (ii) excessive absenteeism by Executive not related to death or Disability (as provided for in this Agreement) or otherwise permissible by applicable law or the Company’s policies for sick leave,  vacation, or  compensated time off; (iii) Executive’s engaging in any activity (including, without limitation, alcohol or drug abuse or other self-induced affliction, or making disparaging remarks about the Company or any of its Affiliates or any of their respective officers, employees, managers, directors, members or shareholders) that injures (monetarily or otherwise), in a material respect, the reputation, business or a business relationship of the Company or any of its Affiliates; (iv) Executive’s gross negligence or material malfeasance (including, without limitation, commission of any intentional act of fraud, misappropriation or theft against the Company or its Affiliates or Executive’s intentional misrepresentation of any material financial or operating results of the Company or any of its Affiliates); (v) Executive’s significant violation of any statutory or common law duty of loyalty to the Company or any of its Affiliates; (vi) Executive’s material 

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breach of any provision of (x) this Agreement; (y) the Company’s written policies; or  (z) the Company’s code of conduct; or (vii) Executive’s refusal or failure to carry out the legitimate directives or instructions of the Board (or such other person to whom Executive reports as may be designated from time to time by the Board) that are consistent with the scope and nature of Executive’s duties and responsibilities set forth herein; provided, however, that in the case of clause (ii), (vi) or (vii) above, only if such breach, refusal or failure has not been cured within fifteen (15) days after Executive’s receipt of written notice from the Company describing such breach or failure in reasonable detail; provided, further, that Executive shall be entitled to no more than one (1) opportunity to cure under this Section 3.02(a) for any reason; provided, further, that nothing contained herein shall be construed to prohibit Executive from providing testimony required by operation of law or legal process in connection with a proceeding in which Executive is a witness.
(b)    The Company shall have the right to terminate the Employment Term without Cause upon thirty (30) days’ prior written notice to Executive.
3.03    By Executive.
(a)    Executive shall have the right to terminate the Employment Term for Good Reason (as defined below), upon thirty (30) days’ (or, in the case of Section 3.03(a)(v), forty-five (45) days’) prior written notice to the Committee, which notice shall be given not later than ninety (90) days after the initial occurrence of the event asserted by Executive to form the basis for the Good Reason claim (any such written notice, a “Good Reason Notice”).  Following submission of any Good Reason Notice, the Company, as set forth below, shall have fifteen (15) days (or, in the case of Section 3.03(a)(v), forty-five (45) days) after the date of receipt by the Committee from Executive of such Good Reason Notice to cure such event.  Executive’s continued employment during the specified notice and/or cure period shall not constitute Executive’s consent to, or a waiver of rights with respect to, any act or failure to act constituting Good Reason hereunder.  For purposes of this Agreement, “Good Reason” shall mean:
(i)    the relocation by the Company of Executive’s principal place of employment of more than fifty (50) miles from the location of Executive’s principal place of employment as of the date hereof, which relocation is not rescinded within fifteen (15) days after the date of receipt by the Committee from Executive of a Good Reason Notice referring to this provision and describing such relocation;
(ii)    a reduction by the Company in Executive’s Base Salary set forth in Section 2.01, unless such reduction is rescinded within fifteen (15) days after the date of receipt by the Committee from Executive of a Good Reason Notice referring to this provision and describing such reduction;
(iii)    a material diminution of Executive’s responsibilities or duties, which diminution is not rescinded within fifteen (15) days after the date of receipt by the Committee from Executive of a Good Reason Notice referring to this provision and describing such diminution;
(iv)    any material breach by the Company (not otherwise covered by clauses (i)-(iii) of this Section 3.03(a)) of any material provision of this Agreement, which material 

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breach is not corrected within fifteen (15) days after the date of receipt by the Committee from Executive of a Good Reason Notice referring to this provision and describing such material breach; or
(v)    a material breach by the Company of any equity award agreement (whether with respect to stock appreciation rights, RSUs, PSUs or otherwise) by and between the Company and Executive then in effect or the terms of ay Equity Plan incorporated therein, which material breach is not corrected within forty-five (45) days after the date of receipt by the Committee from Executive of a Good Reason Notice referring to this provision and describing such material breach.
(b)    Executive shall have the right to terminate his employment hereunder other than for Good Reason upon one hundred twenty (120) days’ prior written notice to the Committee.
3.04    Change in Control.  If Executive’s employment is terminated (including by the Company’s election not to allow the term to be automatically extended in accordance with Section 1.01) during a “Change in Control” Period as defined in the Change in Control Agreement, between Executive and the Company (the “Change in Control Agreement”), this Agreement shall terminate, and the provisions of ARTICLE III of the Change in Control Agreement shall apply in lieu of ARTICLE IV of this Agreement, provided, that the provisions of ARTICLE V and ARTICLE VI of this Agreement shall survive the termination of this Agreement.
ARTICLE IV     
Termination Payments
4.01    Death or Disability.  If the Employment Term is terminated pursuant to Section 3.01, the Company shall pay to or on behalf of Executive, as Executive’s sole and exclusive remedy, in lieu of all other remedies at law or in equity, for such termination, which Executive acknowledges as fair and reasonable, Executive’s accrued but unpaid Base Salary through the date of termination (plus accrued and unpaid expenses reimbursable in accordance with Section 2.06).
4.02    Good Reason; Without Cause.  If the Employment Term is terminated by Executive pursuant to Section 3.03(a), or if the Company terminates the Employment Term other than pursuant to Section 3.01(b) or 3.02(a), the Company shall pay to or on behalf of Executive, as Executive’s sole and exclusive remedy, in lieu of all other remedies at law or in equity, for such termination, which Executive acknowledges to be fair and reasonable, the following amounts set forth in this Section 4.02:
(a)    Executive’s accrued but unpaid Base Salary through the date of termination (plus accrued and unpaid expenses reimbursable in accordance with Section 2.06);
(b)    an amount equal to Executive’s Base Salary (not including any bonus payable) as of the date of such termination for  twelve (12) months payable in accordance with the Company’s regular payroll procedures beginning sixty (60) days after the date of termination; and

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(c)    an amount equal to the product of the Pro-Rata Term (as defined below) multiplied by the amount of any incentive compensation that would have been earned by Executive under the Company’s annual cash incentive bonus program (the “Accrued Bonus”) had Executive remained employed by the Company through the end of the Company’s fiscal year in which the Employment Term is actually terminated by Executive pursuant to Section 3.03(a) or by the Company other than pursuant to Section 3.01(b) or 3.02(a), payable within thirty (30) days of the end of such fiscal year, provided that solely for purposes of calculating the amount of the Accrued Bonus (and not for purposes of calculating the Pro-Rata Term):
(i)    the Employment Term will be deemed to have been terminated effective as of the first day of the Company’s fiscal year immediately following the fiscal year in which the Employment Term is actually terminated (i.e., any “period of service” or similar requirements shall be deemed to have been satisfied);
(ii)    Executive will be deemed to have satisfied all qualitative goals established for Executive under the Company’s annual cash incentive bonus program, as then in effect at the time the Employment Term is actually terminated; and
(iii)    the Committee shall determine whether and the amount by which all quantitative goals established for Executive under the Company’s annual cash incentive bonus program, as then in effect at the time the Employment Term is actually terminated, have been satisfied as of the end of the fiscal year in which the Employment Term is actually terminated.
As used herein, the term “Pro Rata Term” shall mean a fraction, the numerator of which is the number of days during which the Employment Term remained in effect during the Company’s fiscal year in which the Employment Term is terminated by Executive pursuant to Section 3.03(a) or by the Company other than pursuant to Section 3.01(b) or 3.02(a) and the denominator of which is three hundred sixty five (365).

Notwithstanding the foregoing, payment of the amounts described in Sections 4.02(b) and 4.02(c) shall be conditioned on the effectiveness of a full release of claims by Executive in substantially the form attached hereto as Exhibit A.  Such release must be executed by Executive and delivered to the Company, and must have become irrevocable, no later than the date on which such payments are to commence.”

4.03    Cause; Without Good Reason.  If the Employment Term is terminated by the Company pursuant to Section 3.02(a), or Executive terminates the Employment Term other than pursuant to Section 3.01(a) or 3.03(a), without limiting or prejudicing any other legal or equitable rights or remedies that the Company may have upon such breach by Executive, the Company shall pay to Executive or on behalf of Executive, as Executive’s sole and exclusive remedy, in lieu of all other remedies at law or in equity, for such termination, which Executive acknowledges to be fair and reasonable, his accrued but unpaid Base Salary (plus accrued and unpaid expenses reimbursable in accordance with Section 2.06) through the date of termination.  
4.04    Failure to Extend.  If the Company elects to cause the Employment Term to terminate on the third anniversary of the date hereof pursuant to Section 1.01, the Company shall pay to or 

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on behalf of Executive, as Executive’s sole and exclusive remedy, in lieu of all other remedies at law or in equity, for such election not to extend the Employment Term, which Executive acknowledges to be fair and reasonable, the following amounts set forth in this Section 4.04:
(a)    any of Executive’s accrued but unpaid Base Salary through the third anniversary of the date hereof (plus accrued and unpaid expenses reimbursable in accordance with Section 2.06); and
(b)    an amount equal to Executive’s Base Salary (not including any bonus payable) as of the date immediately prior to the third anniversary of the date hereof for twelve (12) months, payable in accordance with the Company’s regular payroll procedures beginning sixty (60) days after the date of termination.
Notwithstanding the foregoing, payment of the amount described in Section 4.04(b) shall be conditioned on the effectiveness of a full release of claims by Executive in a form to be provided to Executive by the Company.  Such release must be executed by Executive and delivered to the Company, and must have become irrevocable, no later than the date on which such payments are to commence.

ARTICLE V     
Confidential Information
5.01    Information.      “Confidential Information” as used in this Agreement, includes but is not limited to, specialized training received by Executive; research and development materials, electronic databases; computer programs and technologies; marketing and/or scientific studies and analysis; product and pricing knowledge; manufacturing and services methods; long and short term corporate strategy; supplier and vendor lists and related information; any and all information concerning past, present and future customers, referral sources; contracts and licenses; management structure, company ownership, personnel information (including the performance, skills, abilities and payment of employees); purchasing, accounting and business systems; short and long range business planning; data regarding the Company’s and/or its Affiliates’ past, current and future financial performance, sales performance, and current and/or future plans to increase the Company’s and/or its Affiliates’ market share by targeting specific demographic and geographic markets; financial information; trade secrets; business policies; methods of operation; implementation strategies for any new products or continuous improvement initiatives; promotional information and techniques; marketing presentations; price lists; business files or other information; pricing strategies; computer files; samples; customer originals; or any other confidential information concerning the business and affairs of the Company and/or its Affiliates.
5.02    Confidentiality.  Executive will not use, copy, remove, disclose or disseminate to any person or entity, the Confidential Information, except (i) as required in the course of performing Executive’s duties with the Company, for the benefit of the Company and its Affiliates, or (ii) when required to do so by a court of law, by any governmental agency having supervisory authority over the business of the Company and/or its Affiliates or by any administrative or legislative body (including a committee thereof) with apparent jurisdiction to order Executive to divulge, disclose or make accessible such information, it being understood that Executive will promptly notify the 

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Company of such requirement so that the Company or its Affiliates, as applicable, may seek to obtain a protective order.
5.03    Ownership.  To the fullest extent permitted by law, all rights worldwide with respect to any intellectual or other property of any nature conceived, developed, produced, created, suggested or acquired by Executive during Executive’s employment with the Company (or any of its predecessors, Affiliates or predecessors of its Affiliates) through the use of the Company’s assets, including, but not limited to, (or such predecessors’, such Affiliates’ or such predecessors’ of such Affiliates’) equipment, facilities, trade secrets or Confidential Information during the period commencing on the date of Executive’s employment with the Company (or such predecessor(s), such Affiliate(s) or such predecessor(s) of such Affiliate(s)), through the date that is six (6) months after termination of the Employment Term, shall be deemed to be a work made for hire and shall be the sole and exclusive property of the Company or its Affiliates, as applicable.  Executive agrees to execute, acknowledge and deliver to the Company, at the Company’s request, such further documents as the Company or its legal counsel find appropriate to evidence the Company’s rights in such property.
5.04    Injunction.  Executive recognizes that Executive’s services hereunder are of a special, unique, unusual, extraordinary and intellectual character giving them a peculiar value, the loss of which cannot be reasonably or adequately compensated for in damages.  Executive acknowledges that if Executive were to leave the employ of the Company for any reason and compete, directly or indirectly, with the Company or any of its Affiliates, or use or disclose, directly or indirectly, the Confidential Information (whether in tangible form or memorized), that such competition, use and/or disclosure would cause the Company and its Affiliates irreparable harm and injury for which no adequate remedy at law exists.  Executive agrees this Agreement is the narrowest way to protect the Company’s and/or its Affiliates’ interests.  Therefore, in the event of the breach or threatened breach of the provisions of this Agreement by Executive, the Company and its Affiliates shall be entitled to obtain injunctive relief to enjoin such breach or threatened breach, in addition to all other remedies and alternatives that may be available at law or in equity.  Executive acknowledges that the remedies contained in this Agreement for violation of this Agreement are not the exclusive remedies that the Company or its Affiliates may pursue.  
ARTICLE VI     
Non-Competition; Non-Solicitation; and Other Restrictive Covenants
6.01    Executive’s Promises.  In exchange for the consideration provided by the Company pursuant to this Agreement, Executive promises and acknowledges as follows:
(a)    Executive agrees that Executive’s employment hereunder is on an exclusive basis and that, during the Employment Term, Executive shall diligently and conscientiously devote Executive’s full business time, attention, energy, skill and best efforts to the business of the Company and its Affiliates and the discharge of Executive’s duties hereunder.  Notwithstanding the foregoing, nothing in this Agreement shall preclude Executive from (i) serving on the governing bodies of other companies (subject to the approval of the Company’s President and Chief Executive Officer, which shall not be unreasonably withheld), provided that such service does not result in a breach of any applicable securities law or regulation or listing requirement or create any disclosure 

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obligation under Item 407(e)(4) of Regulation S-K (i.e., with respect to “Compensation Committee Interlocks and Insider Participation”) or under any similar federal or state regulation applicable to the Company, (ii) engaging in charitable and public service activities, or engaging in speaking and writing activities, or (iii) managing Executive’s personal investments; provided, that such activities under clauses (i) and (ii) are disclosed in writing to the Company’s President and Chief Executive Officer in a notice that specifically references this provision and the activities under clauses (i), (ii) and (iii) do not interfere with Executive’s availability or ability to perform Executive’s duties and responsibilities hereunder and do not breach Executive’s other obligations hereunder (including, without limitation, Executive’s obligations under ARTICLE VI of this Agreement). 
(b)    Following employment termination, Executive will immediately return to the Company all materials created (including but not limited to any inventions, trade secrets and intellectual property), received or utilized in any way in conjunction with Executive’s work performed with the Company or any of its Affiliates.
(c)    Executive acknowledges that the Company intends to expand the business of the Company and its Affiliates to provide other types of products and services than those provided as of the date hereof and that, due to Executive’s position with the Company and his ownership (directly or indirectly) of the Company’s equity securities, he will be in a position to have or obtain knowledge of such expansion of the Company’s and/or its Affiliates’ business.  Upon request of the Company at any time during the Employment Term, Executive agrees to execute and deliver to the Company one or more supplements to this Agreement acknowledging any such expansion of the Company’s and or its Affiliates’ business.
(d)    Executive acknowledges that the market for the Company’s products, services, and activities is global, that the Company and its Affiliates currently conduct operations and provides products and services in numerous international markets and that the Company and its Affiliates currently have plans to conduct operations and provide products and services in additional international markets.  Moreover, Executive recognizes that the Company’s customers may be contacted by telephone, in person, or in writing (including, without limitation, via e-mail or the Internet).  Executive further acknowledges that due to the international scope of the Company’s customer and client base, the covenants set forth in the following Sections in this ARTICLE VI are necessary to protect the Company’s and its Affiliates’ interests.
(e)    Executive acknowledges that a portion of the compensation payable to Executive under this Agreement is considered, and shall be deemed for all purposes to be, consideration for performance of the obligations set forth below in this Section in this ARTICLE VI.
6.02    Non-Compete.  
(a)    During the Restricted Period (as defined below) and subject to Section 6.02(d), Executive shall not, directly or indirectly, engage in or participate (including, without limitation, as an investor, officer, employee, director, agent, or consultant (any such capacity, being a “Participant”)) in or on behalf of any entity engaging in any line of business competitive with that of the Company or any of its Affiliates on the date of termination of Executive’s employment with the Company, or any line of business competitive with any line of business that the Company or 

10

any of its Affiliates was contemplating or conducting within the twenty-four (24) months prior to the date of termination of Executive’s employment with the Company.
(b)    During the Restricted Period (as defined below) and subject to Section 6.02(d), Executive shall not, directly or indirectly, except as an employee of the Company, in any capacity for Executive or others, directly or indirectly call on, service, or solicit competing business from clients or prospective clients of the Company or its Affiliates (collectively with the obligations set forth in Section 6.02(a) the “Non-Compete Obligations”); provided, however, that nothing herein shall prevent Executive from investing as a less than 5% shareholder in securities of any company listed on a national securities exchange or quoted on an automated quotation system.  
(c)    The Non-Compete Obligations shall remain in effect during the Employment Term and for a period of twelve (12) months from the date on which the Employment Term is terminated (without regard to the reason for such termination) (the applicable period of time being referred to herein as the “Restricted Period”).  For the avoidance of doubt, the Non-Compete Obligations shall survive, and the Restricted Period shall not be terminated by, the termination of this Agreement under Section 3.04.
(d)    The geographic limitation for the Non-Compete Obligations is any state or province (or substantially equivalent designation of a geographic area within a foreign country) (i) in which the Company or its Affiliates provided its products or services or conducted activities during the twenty-four (24) months prior to the termination of the Employment Term, (ii) in which the Company or its Affiliates had plans to provide or contemplated providing its products or services or conducting activities during the twenty-four (24) months prior to the date of termination of the Employment Term, or (iii) in which a customer or client of the Company or its Affiliates is located.
6.03    Non-Solicitation of Employees.  Executive agrees that during the Employment Term and during the Restricted Period, Executive will not, directly or indirectly, (a) induce or solicit any person who was an employee, consultant or independent contractor of the Company or any of its Affiliates to terminate such individual’s employment or service with the Company or any of its Affiliates, (b) hire or retain the services of any such person, regardless of whether such person had been solicited for employment, or (c) assist any other person or entity in such activities.
6.04    Standstill.  Executive agrees that during the Employment Term and during the Restricted Period, Executive shall not, except at the specific written request of the Board, directly or indirectly:
(a)    engage in or propose, or be a Participant in any entity that directly or indirectly engages in or proposes, any material transaction between the Company or any of its Affiliates (or any of their successors), on the one hand, and Executive or any entity in which Executive is a Participant, on the other hand;
(b)    acquire any equity securities of the Company or any of its Affiliates (or any of their successors) during any black out period in accordance with the Company’s Insider Trading Policy (other than through entering into a qualified 10(b)5-1 Plan during an open trading window or equity securities issued to Executive by the Company upon the vesting of RSUs and PSUs issued 

11

to Executive by the Company) or be a Participant in any entity that, directly or indirectly, acquires any equity securities of the Company or any of its Affiliates (or any of their successors), provided that this Section 6.04(b) shall not restrict Executive from participating in the AZZ Inc.  2018 Employee Stock Purchase Plan, or from acquiring equity securities of the Company through such participation, in accordance with the terms and conditions thereof as may be amended from time to time;
(c)    solicit proxies, or be a Participant in any entity that directly or indirectly solicits proxies, or become a Participant in any solicitation of proxies, with respect to the election of directors of the Company or any of its Affiliates (or any of their successors) in opposition to the nominees recommended by the board of directors or similar governing body of any such entity; or
(d)    engage in or be a Participant in any other activity that would be reasonably expected to result in a Change in Control of the Company or any Affiliate (or any of their successors).
Notwithstanding the foregoing, the foregoing provisions of this Section 6.04 shall not be construed to prohibit or restrict the manner in which Executive exercises Executive’s voting rights in respect of equity securities of the Company acquired in a manner that is not a violation of the terms of this Agreement.
6.05    Non-Disparagement.  During the Employment Term and during the Restricted Period, Executive will not, directly or indirectly, make any public or private statements (whether orally or in writing) that disparage, denigrate or malign the Company or any of its Affiliates, their respective businesses, activities, operations, affairs, reputations or prospects or any of their respective officers, employees, directors, partners, agents, members or shareholders.  The Company will not at any time during the Restricted Period directly (or through any director, officer or other entity) make any public or private statements (whether orally or in writing) that disparage, denigrate or malign Executive.
6.06    Acknowledgements.  Executive acknowledges and agrees that:
(a)    the terms of this Agreement are reasonable, valid and enforceable and the restricted period, definitions and geographical limitations specified in the above Sections in this ARTICLE VI are reasonable in view of the nature of the business in which the Company and its Affiliates are engaged and the knowledge of the Company’s operations and customer relationships that Executive will gain by virtue of Executive’s position hereunder;
(b)    this limited prohibition against unfair competition is narrowly tailored to safeguard the Company’s legitimate business interests while not unreasonably interfering with Executive’s ability to obtain other employment and that his ability to earn a livelihood without violating such restrictions is a material condition to his employment with the Company;
(c)    Executive’s continued employment with the Company, the compensation paid to Executive by the Company, the provision of benefits to Executive by the Company, Executive’s  current ownership (directly or indirectly) in the Company, the Execution Award granted 

12

to the Executive, and Executive’s commitment not to disclose Confidential Information, among other things, are sufficient consideration for Executive’s covenants contained herein;
(d)    subject to the Early Resolution Conference provision set forth in Section 6.07 of this Agreement, Executive has a duty to contact the Company if Executive has any questions regarding whether or not a particular entity or conduct by Executive would be restricted by this Agreement;
(e)    Executive has a duty immediately to inform the Company in writing of any employment or similar relationship Executive enters into after termination of employment with the Company during the Restricted Period set forth above;
(f)    the provisions in ARTICLE VI hereof shall survive the termination of this Agreement;
(g)    the Restricted Period set forth herein is a material term of this Agreement and the Company is entitled to Executive’s compliance with the terms of this ARTICLE VI during that full period.  Therefore, Executive agrees that the Restricted Period will be tolled during any period of non-compliance by Executive.  If the Company must seek injunctive relief or judicial intervention to enforce this Agreement, the Restricted Period set forth herein does not commence until Executive is judged by a court of competent jurisdiction to be in full compliance with this Agreement; and
(h)    the covenants contained in ARTICLE VI are reasonable with respect to their duration, geographic area and scope.  If, at the time of enforcement of such covenants, a court holds that the restrictions stated herein are unreasonable under the circumstances then existing, the parties hereto agree that the maximum period, scope or geographic area legally permissible under such circumstances will be substituted for the period, scope or area stated herein.
6.07    Early Resolution Conference.  The parties are entering into this Agreement with the understanding that this Agreement is clear and enforceable.  If Executive decides to contend that any restriction on his activities under this Agreement is not enforceable or does not apply to an activity Executive intends to pursue, Executive first will notify the Company in writing and meet with a Company representative at least fourteen (14) days before engaging in any activity that could foreseeably fall within the questioned restriction, in an effort for both parties to reach a clear interpretation and resolution of such activities (an “Early Resolution Conference”).  Should the parties not resolve the dispute at the Early Resolution Conference, the parties may pursue their rights hereunder, including, but not limited to, the injunctive relief available to the Company pursuant to Sections 5.04 and 9.06 of this Agreement.
ARTICLE VII     
Representation of the Parties
7.01    Representations of Executive.  Executive represents and warrants to the Company that Executive has the capacity to enter into this Agreement and the other agreements referred to herein, and that the execution, delivery and performance of this Agreement and such other 

13

agreements by Executive will not violate any agreement, undertaking or covenant to which Executive is party or is otherwise bound.  
7.02    Representations of the Company.  The Company represents and warrants to Executive that it is duly formed and is validly existing under the laws of the State of Texas, that it is fully authorized and empowered by all necessary action to enter into this Agreement and that performance of its obligations under this Agreement will not violate any agreement between it and any other person, firm or other entity.
ARTICLE VIII     
Certain Tax Matters
8.01    Section 409A.  The intent of the parties is that payments and benefits under this Agreement shall comply with or be exempt from Section 409A of the Code and the Treasury regulations and administrative guidance thereunder (collectively, “Code Section 409A”), and, accordingly, to the maximum extent permitted, this Agreement shall be interpreted to be in compliance therewith.  If any provision of this Agreement (or of any award of compensation, including equity compensation or benefits) would cause Executive to incur any additional tax or interest under Code Section 409A, the Company shall, after consulting with and receiving the approval of Executive, reform such provision in a manner intended to avoid the incurrence by Executive of any such additional tax or interest; provided, however, that the Company shall maintain, to the maximum extent practicable, the original intent and economic benefit to Executive of the applicable provision without violating the provisions of Code Section 409A.
8.02    Termination of Employment.  A termination of employment shall not be deemed to have occurred for purposes of any provision of this Agreement providing for the payment of any amounts or benefits that are considered nonqualified deferred compensation under Code Section 409A upon or following a termination of employment unless such termination is also a “separation from service” within the meaning of Code Section 409A, and, for purposes of any such provision of this Agreement, references to a “termination,” “termination of employment” or like terms and concepts shall mean a “separation from service” within the meaning of Code Section 409A, and references to “date of termination” shall mean the date on which a “separation from service” occurs.  In general, Executive will incur a “separation from service” on the date the Company and Executive reasonably believe that no further services will be performed or that the level of bona fide services (whether as an employee or independent contractor) will permanently decrease to no more than twenty (20) percent of the level of services performed over the immediately preceding thirty-six (36) months. The determination of whether and when a “separation from service” has occurred for proposes of this Agreement shall be made in accordance with Section 1.409A-1(h) of the Treasury Regulations.
8.03    Nonqualified Deferred Compensation.  Any provision of this Agreement to the contrary notwithstanding, if at the time of Executive’s termination, the Company determines that Executive is a “specified employee,” within the meaning of Code Section 409A, then, to the extent any payment or benefit that Executive becomes entitled to under this Agreement on account of such separation from service would be considered nonqualified deferred compensation under Code Section 409A, such payment or benefit shall be paid or provided at the date that is the earlier of (a) 

14

six (6) months and one day after such termination and (b) the date of Executive’s death (the “Delay Period”).  Upon the expiration of the Delay Period, all payments and benefits delayed pursuant to this Section 8.03 (whether they would have otherwise been payable in a single sum or in installments in the absence of such delay) shall be paid or provided to Executive in a lump-sum, and any remaining payments and benefits due under this Agreement shall be paid or provided in accordance with the normal payment dates specified for them herein.
8.04    Deferred Compensation.  Any reimbursements and in-kind benefits provided under this Agreement that constitute deferred compensation within the meaning of Code Section 409A shall be made or provided in accordance with the requirements of Code Section 409A, including that (a) in no event shall any fees, expenses or other amounts eligible to be reimbursed by the Company under this Agreement be paid later than the last day of the calendar year next following the calendar year in which the applicable fees, expenses or other amounts were incurred; (b) the amount of expenses eligible for reimbursement, or in-kind benefits that the Company is obligated to pay or provide, in any given calendar year shall not affect the expenses that the Company is obligated to reimburse, or the in-kind benefits that the Company is obligated to pay or provide, in any other calendar year, provided that this clause (b) shall not be violated with regard to expenses reimbursed under any arrangement covered by Section 105(b) of the Code solely because such expenses are subject to a limit related to the period the arrangement is in effect; (c) Executive’s right to have the Company pay or provide such reimbursements and in-kind benefits may not be liquidated or exchanged for any other benefit; and (d) in no event shall the Company’s obligations to make such reimbursements or to provide such in-kind benefits apply later than two (2) years after the termination of this Agreement.
8.05    Installment Payments.  For purposes of Code Section 409A, Executive’s right, if any, to receive any installment payments shall be treated as a right to receive a series of separate and distinct payments.  Whenever a payment under this Agreement specifies a payment period with reference to a number of days, the actual date of payment within the specified period shall be within the sole discretion of the Company.  In no event may Executive, directly or indirectly, designate the calendar year of any payment to be made under this Agreement to the extent such payment is subject to Code Section 409A.  
ARTICLE IX     
Miscellaneous
9.01    Notices.  All notices given under this Agreement shall be in writing and shall be deemed to have been duly given (a) when delivered personally, (b) three business days after being mailed by first class certified mail, return receipt requested, postage prepaid, (c) one business day after being sent by a reputable overnight delivery service, postage or delivery charges prepaid, or (d) on the date on which a facsimile is transmitted to the parties at their respective addresses stated below.  Any party may change its address for notice and the address to which copies must be sent by giving notice of the new addresses to the other parties in accordance with this Section 9.01, except that any such change of address notice shall not be effective unless and until received.

15

If to the Company or the Committee:

AZZ Inc.
One Museum Place, Suite 500
Fort Worth, Texas 76107
Attn:  Chairman of the Board of Directors

If to Executive:

Ken Lavelle
[___________________]

9.02    Entire Agreement, Amendments, Waivers, Etc.
(a)    No amendment or modification of this Agreement shall be effective unless set forth in a writing signed by the Company and Executive.  No waiver by either party of any breach by the other party of any provision or condition of this Agreement shall be deemed a waiver of any similar or dissimilar provision or condition at the same or any prior or subsequent time.  Any waiver must be in writing and signed by the waiving party.
(b)    This Agreement, together with the documents referred to herein (including, without limitation, the Change in Control Agreement), sets forth the entire understanding and agreement of the parties with respect to the subject matter hereof and supersedes and replaces all prior oral and written understandings and agreements with respect to the subject matter hereof and shall replace the terms and conditions of Executive’s previous employment agreement.  There are no representations, agreements, arrangements or understandings, oral or written, among the parties relating to the subject matter hereof which are not expressly set forth herein, and no party hereto has been induced to enter into this Agreement, except by the agreements expressly contained herein.
(c)    Nothing herein contained shall be construed so as to require the commission of any act contrary to law, and wherever there is a conflict between any provision of this Agreement and any present or future statute, law, ordinance or regulation, the latter shall prevail, but in such event the provision of this Agreement affected shall be curtailed and limited only to the extent necessary to bring it within legal requirements.
(d)    This Agreement shall inure to the benefit of and be enforceable by Executive and Executive’s heirs, executors, administrators and legal representatives and by the Company and its Affiliates and their successors and assigns.  This Agreement and all rights hereunder are personal to Executive and shall not be assignable.  The Company may assign its rights and/or delegate its obligations under this Agreement to any successor, whether by operation of law, agreement or otherwise (including, without limitation, any Person who acquires all or a substantial portion of the business of the Company and its Affiliates, whether direct or indirect and whether structured as a stock sale, asset sale, merger, recapitalization, consolidation or other transaction) and, in connection with any such delegation of its obligations hereunder shall be released from such obligations hereunder.

16

(e)    If any provision of this Agreement or the application thereof is held invalid, the invalidity shall not affect the other provisions or application of this Agreement that can be given effect without the invalid provisions or application, and to this end the provisions of this Agreement are declared to be severable.  If, in any judicial proceeding, the court shall refuse to enforce any of the separate covenants contained in ARTICLE V or ARTICLE VI hereof because the time limit is too long, it is expressly understood and agreed between Executive and the Company that for purposes of such proceeding such time limitation shall be deemed reduced to the extent necessary to permit enforcement of such covenants.  If, in any judicial proceeding, the court shall refuse to enforce any of the separate covenants contained in ARTICLE V or ARTICLE VI hereof because they are more extensive (whether as to geographic area, scope of business or otherwise) than necessary to protect the business and goodwill of the Company and/or any of its Affiliates, it is expressly understood and agreed between Executive and the Company that for purposes of such proceeding the geographic area, scope of business or other aspect shall be deemed reduced to the extent necessary to permit enforcement of such covenants.
9.03    Choice of Law, Forum and Consent to Personal Jurisdiction.  This Agreement shall be interpreted, construed, and governed by the laws of the State of Texas, regardless of its place of execution or performance.  Any cause of action arising between the parties regarding this Agreement shall be brought only in a Texas State Court located in Tarrant County, Texas, or in the U.S. District Court for the Northern District of Texas, Fort Worth division.  Executive, by this Section 9.03, consents to personal jurisdiction in any such State or Federal court and waives any entitlement Executive might otherwise have to a transfer of venue under the preferred venue requirements of State or Federal rules of civil procedure rules.
9.04    Taxes.  All payments required to be made to Executive hereunder, whether during the term of Executive’s employment hereunder or otherwise, shall be subject to all applicable federal, state and local tax withholding laws.
9.05    Headings, Etc.  The headings set forth herein are included solely for the purpose of identification and shall not be used for the purpose of construing the meaning of the provisions of this Agreement.  Unless otherwise provided, references herein to Exhibits and Sections refer to Exhibits and Sections of this Agreement.
9.06    Arbitration.  Subject to Section 6.07 of this Agreement, any dispute or controversy between the Company and Executive, arising out of or relating to this Agreement, the breach of this Agreement, or otherwise, shall be settled by arbitration in Fort Worth, Texas administered by the American Arbitration Association in accordance with its Commercial Rules then in effect and judgment on the award rendered by the arbitrator may be entered in any court having jurisdiction thereof.  The arbitrator shall have the authority to award any remedy or relief that a court of competent jurisdiction could order or grant, including, without limitation, the issuance of an injunction.  However, either party may, without inconsistency with this arbitration provision, apply to any court having jurisdiction over such dispute or controversy and seek interim provisional, injunctive or other equitable relief until the arbitration award is rendered or the controversy is otherwise resolved.  Except as necessary in court proceedings to enforce this arbitration provision or an award rendered hereunder, or to obtain interim relief, neither a party nor an arbitrator may disclose the existence, 

17

content or results of any arbitration hereunder without the prior written consent of the Company and Executive.  Each party shall bear its or his costs and expenses in any arbitration hereunder and one-half of the arbitrator’s fees and costs; provided, however, that the arbitrator shall have the discretion to award the prevailing party reimbursement of its or his reasonable attorney’s fees and costs.  Executive acknowledges that the duties he will perform for the Company will involve and have a connection with interstate commerce within the meaning of the Federal Arbitration Act (“FAA”), and that this Agreement involves and has a connection with interstate commerce within the meaning of the FAA.
9.07    Survival.  Executive’s obligations under the provisions of Section 2.06 and ARTICLE IV, ARTICLE V, ARTICLE VI and ARTICLE IX hereof shall survive the termination or expiration of this Agreement.
9.08    Other Agreements.  The provisions contained in ARTICLE V and ARTICLE VI hereof shall be independent of and in addition to any other agreement between Executive and the Company or its Affiliates regarding the subject matter. 
9.09    Construction.  Each party has cooperated in the drafting and preparation of this Agreement.  Therefore, in any construction to be made of this Agreement, the same shall not be construed against any party on the basis that the party was the drafter.
9.10    Compliance with the Dodd-Frank Wall Street Reform and Consumer Protection Act.  Notwithstanding anything to the contrary herein, any incentive payments to the Executive shall be limited to the extent required under the Dodd-Frank Wall Street Reform and Consumer Protection Act (the “Dodd-Frank Act”), including, but not limited to, clawbacks for such incentive payments as required by the Dodd-Frank Act and Section 10D of the Securities Exchange Act of 1934 and the Company’s Compensation Recovery Policy, adopted on January 20, 2016.  The Executive agrees to such amendments, agreements, or waivers that are required by the Dodd-Frank Act or requested by the Company to comply with the terms of the Dodd-Frank Act.
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18

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

AZZ INC.

By:  /s/ Tom Ferguson            
Name: Tom Ferguson
Title:   President and Chief Executive Officer

/s/ Ken Lavelle            
KEN LAVELLE

 

Signature Page to Employment Agreement

EXHIBIT A

Form of Release

EMPLOYMENT SEPARATION AND GENERAL RELEASE AGREEMENT

This Employment Separation and General Release Agreement (this “Separation Agreement”), is entered into this ___ day of ______, ____ by and between Ken Lavelle, an individual (“Executive”), and AZZ Inc., a Texas corporation (the “Company”).

WHEREAS, Executive has been employed as President and General Manager – Electrical of the Company and/or one of its Affiliates pursuant to the employment agreement entered into between Executive and the Company, dated ________________, 2019 (the “Agreement”); and

WHEREAS, Executive and the Company have mutually agreed to terminate Executive’s employment relationship with the Company upon the terms set forth herein;

NOW, THEREFORE, in consideration of the covenants undertaken and the releases contained in this Separation Agreement, Executive and the Company agree as follows:

ARTICLE I     
Termination
1.01    Relationship with the Company.  Executive will separate from service with the Company effective _______________, 20____ (“Separation Date”).
1.02    Employment Agreement.  The Agreement shall terminate as of the Separation Date; provided, however, that notwithstanding anything to the contrary in this Separation Agreement, the provisions contained in ARTICLE IV, ARTICLE V, ARTICLE VI and ARTICLE IX of the Agreement shall continue to apply in accordance with their respective terms.  All payments due to Executive from the Company shall be determined under the applicable provisions of the Agreement and this Separation Agreement.  
1.03    Acknowledgment.  Executive acknowledges and agrees that, upon receipt of all payments due to him on or before the Separation Date in accordance with the Agreement, he will have received all amounts owed for his regular salary (including, but not limited to, any severance, bonus or other wages), usual benefits and accrued but unused vacation through the Separation Date and that all payments due to Executive from the Company after the Separation Date shall be determined under this Separation Agreement.
ARTICLE II     
Severance Benefit
2.01    Severance.  Upon Executive’s execution and delivery of this Separation Agreement to the Company and the expiration of the revocation period described in Section 4.02(c) of this Separation Agreement, the Company shall pay to Executive the amounts set forth in Section 4.02 

or Section 4.04 of the Employment Agreement, as applicable.  Such amounts shall be paid in the manner and the time specified in the Employment Agreement and shall be reduced by standard withholding and authorized deductions.
ARTICLE III     
Release
3.01    Release.  Executive on behalf of himself, his descendants, dependents, heirs, executors, administrators, assigns, and successors, and each of them, hereby covenants not to sue and fully releases and discharges the Company and each of its parents, subsidiaries and affiliates, past and present (together, the “Company Group”), as well as its and their trustees, directors, officers, members, managers, partners, agents, attorneys, insurers, Executives, shareholders, representatives, assigns, and successors, past and present (each of them, hereinafter together and collectively referred to as the “Releasees”) with respect to and from any and all claims, wages, demands, rights, liens, agreements, contracts, covenants, actions, suits, causes of action, obligations, debts, costs, expenses, attorneys’ fees, damages, judgments, orders and liabilities of whatever kind or nature in law, equity or otherwise, whether now known or unknown, suspected or unsuspected, and whether or not concealed or hidden, which he now owns or holds or he has at any time heretofore owned or held or may in the future hold as against any of said Releasees, arising out of or in any way related to his service as an officer, director, Executive or manager of any member of the Company Group (other than as an equity owner), his separation from his position as an officer, director, Executive and/or manager, as applicable, of any member of the Company Group (other than as an equity owner), or any other transactions, occurrences, acts or omissions or any loss, damage or injury whatever, known or unknown, suspected or unsuspected, concealed or apparent, resulting from any act or omission by or on the part of said Releasees, or any of them, committed or omitted prior to the date of this Separation Agreement related to Executive’s employment or service with any member of the Company Group, including, without limiting the generality of the foregoing, any claim under Title VII of the Civil Rights Act of 1964, as amended, the Americans with Disabilities Act, the Age Discrimination in Employment Act, as amended, the Family and Medical Leave Act of 1993, the Texas Commission on Human Rights Act, the Texas Labor Code, the Texas Payday Act, the Texas Employment Discrimination Law, the Texas Disability Discrimination Law or any claim for severance pay, bonus, sick leave, holiday pay, vacation pay, life insurance, health or medical insurance or any other fringe benefit or disability.
3.02    Non-released matters.  Notwithstanding the foregoing Section 3.01 of this Separation Agreement, the release set forth therein shall not apply to (1) any severance or other benefits due Executive under this Separation Agreement or the Agreement for which Executive has not expressly acknowledged receipt or satisfaction in Section 2.01 of this Separation Agreement or otherwise; (2) any right of Executive to receive workers’ compensation benefits; (3) any right to continue Executive’s group health benefits in accordance with the Consolidated Omnibus Budget Reconciliation Act; (4) any right of Executive to indemnification pursuant to the Company’s Bylaws, its articles of incorporation (as may be amended from time to time), the Agreement and any other agreement to which Executive is a party entered into in connection with the Agreement (collectively, the “Transaction Documents”); (5) any other right of Executive under any of the Transaction Documents; or (6) any rights of Executive under any written equity-based award agreement entered 

into by and between any member of the Company Group and Executive in effect at the Separation Date.
3.03    Representations and Warranties.  Executive represents and warrants that he has not heretofore assigned or transferred to any person not a party to this Separation Agreement any released matter or any part or portion thereof and he shall defend, indemnify and hold the Company and each of its affiliates harmless from and against any claim (including the payment of attorneys’ fees and costs actually incurred whether or not litigation is commenced) based on or in connection with or arising out of any such assignment or transfer made, purported or claimed.
ARTICLE IV     
ADEA Waiver
4.01    Waiver.  Executive expressly acknowledges and agrees that by entering into this Agreement, he is waiving any and all rights or claims that he may have arising under the federal Age Discrimination in Employment Act of 1967, as amended, which have arisen on or before the date of execution of this Separation Agreement.  
4.02    Additional Acknowledgements.  Executive further expressly acknowledges and agrees that:
(a)    he is hereby advised in writing by this Separation Agreement to consult with an attorney before signing this Separation Agreement; 
(b)    he was given a copy of this Separation Agreement on __________, 20__ and informed that he had twenty-one (21) days within which to consider this Separation Agreement; and
(c)    he was informed that he had seven (7) days following the date of execution of this Separation Agreement in which to revoke this Separation Agreement.
ARTICLE V     
Miscellaneous
5.01    Successors.  This Separation Agreement is personal to Executive and shall not, without the prior written consent of the Company, be assignable by Executive.  This Separation Agreement shall inure to the benefit of and be binding upon the Company and its Releasees and its and their respective successors and assigns and any such successor or assignee shall be deemed substituted for the Company under the terms of this Separation Agreement for all purposes.  As used herein, “successor” and “assignee” shall include any person, firm, corporation or other business entity which at any time, whether by purchase, merger or otherwise, directly or indirectly acquires the ownership of the Company or to which the Company assigns this Separation Agreement by operation of law or otherwise.

5.02    Waiver.  No waiver of any breach of any term or provision of this Separation Agreement shall be construed to be, nor shall be, a waiver of any other breach of this Separation Agreement.  No waiver shall be binding unless in writing and signed by the party waiving the breach.
5.03    Modification.  This Separation Agreement may not be amended or modified other than by a written agreement executed by Executive and an officer of the Company authorized by the Board of Directors of the Company to execute and deliver such agreement on behalf of the Company.
5.04    Complete Agreement.  This Separation Agreement constitutes and contains the entire agreement and final understanding concerning Executive’s relationship with the Company and its affiliates as an Executive and the other subject matters addressed herein between the parties, and supersedes and replaces all prior negotiations and all agreements proposed or otherwise, whether written or oral, concerning the subject matters.  Any representation, promise or agreement not specifically included in this Separation Agreement shall not be binding upon or enforceable against either party.  This Separation Agreement constitutes an integrated agreement.  Notwithstanding the preceding provisions of this Section 5.04, the Company’s and the Executive’s rights under the Agreement, any written equity-based award agreement entered into by and between any member of the Company Group and Executive before the Separation Date pursuant to which Executive has rights that continue after the Separation Date in accordance with the terms of the award and Executive’s rights as an equity owner in any member of the Company Group are each outside of the scope of the foregoing provisions of this Section 5.04 and shall continue in effect in accordance with their terms.
5.05    Severability.  If any provision of this Separation Agreement or the application thereof is held invalid, the invalidity shall not affect other provisions or applications of the Separation Agreement which can be given effect without the invalid provisions or applications and to this end the provisions of this Separation Agreement are declared to be severable.
5.06    Choice of Law.  This Separation Agreement shall be deemed to have been executed and delivered within the State of Texas, and the rights and obligations of the parties hereunder shall be construed and enforced in accordance with, and governed by, the laws of the State of Texas without regard to principles of conflict of laws.
5.07    Cooperation in Drafting.  Each party has cooperated in the drafting and preparation of this Separation Agreement.  Hence, in any construction to be made of this Separation Agreement, the same shall not be construed against any party on the basis that the party was the drafter.
5.08    Counterparts.  This Separation Agreement may be executed in counterparts, and each counterpart, when executed, shall have the efficacy of a signed original.  Photographic copies of such signed counterparts may be used in lieu of the originals for any purpose.
5.09    Arbitration.  Any dispute or controversy between the Company and Executive, arising out of or relating to this Separation Agreement, the breach of this Separation Agreement, or otherwise, shall be settled by arbitration in Fort Worth, Texas administered by the American Arbitration Association in accordance with its Commercial Rules then in effect and judgment on 

the award rendered by the arbitrator may be entered in any court having jurisdiction thereof.  The arbitrator shall have the authority to award any remedy or relief that a court of competent jurisdiction could order or grant, including, without limitation, the issuance of an injunction.  However, either party may, without inconsistency with this arbitration provision, apply to any court having jurisdiction over such dispute or controversy and seek interim provisional, injunctive or other equitable relief until the arbitration award is rendered or the controversy is otherwise resolved.  Except as necessary in court proceedings to enforce this arbitration provision or an award rendered hereunder, or to obtain interim relief, neither a party nor an arbitrator may disclose the existence, content or results of any arbitration hereunder without the prior written consent of the Company and Executive.  Each party shall bear its or his costs and expenses in any arbitration hereunder and one-half of the arbitrator’s fees and costs; provided, however, that the arbitrator shall have the discretion to award the prevailing party reimbursement of its or his reasonable attorney’s fees and costs.
5.10    Advice of Counsel.  In entering this Separation Agreement, the parties represent that they have relied upon the advice of their attorneys, who are attorneys of their own choice, and that the terms of this Separation Agreement have been completely read and explained to them by their attorneys, and that those terms are fully understood and voluntarily accepted by them.
5.11    Supplementary Documents.  All parties agree to cooperate fully and to execute any and all supplementary documents and to take all additional actions that may be necessary or appropriate to give full force to the basic terms and intent of this Separation Agreement and which are not inconsistent with its terms.
5.12    Headings.  The section headings contained in this Separation Agreement are inserted for convenience only and shall not affect in any way the meaning or interpretation of this Separation Agreement.
5.13    Taxes.  Other than the Company’s obligation to withhold taxes as required by law or regulation, Executive shall be solely responsible for any taxes due as a result of the payment of the Severance Benefit and other benefits to be provided to Executive pursuant to Section 2.01 of this Separation Agreement.  Executive will defend and indemnify the Company and each of its affiliates from and against any tax liability that any of them may have with respect to any such payment and against any and all losses or liabilities, including defense costs, arising out of Executive’s failure to pay any taxes due with respect to any such payment.
[REMAINDER OF PAGE INTENTIONALLY LEFT BLANK]
 

I have read the foregoing Separation Agreement and I accept and agree to the provisions it contains and hereby execute it voluntarily with full understanding of its consequences.

EXECUTED this ___ day of _______ 20__.

                    
Ken Lavelle

EXECUTED this ___ day of _______ 20__.

AZZ Inc.

By:                    
Name:
Title:

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