Document:

EX-10.1 AMENDMENT AND WAIVER TO CREDIT AGREEMENT

 

Exhibit 10.1

Amendment No. 3 and Waiver to Credit Agreement

     Amendment No. 3 and Waiver (this “Amendment”), dated as of May 9, 2007, to Credit
Agreement, dated as of January 7, 2005 (as the same may be amended, restated, supplemented or
otherwise modified from time to time, the “Credit Agreement”), among Novelis Inc., a
corporation organized under the Canada Business Corporations Act (the “Company” or the “Canadian
Borrower”), Novelis Corporation, a Texas corporation (the “US Borrower”), Novelis
Deutschland GmbH, a limited liability company (GmbH) organized under the laws of Germany (the
“German Borrower”), Novelis UK Ltd, a limited company organized under the laws of England
and Wales with registered number 00279596 (the “UK Borrower”), Novelis AG, a stock
corporation (AG) organized under the laws of Switzerland (the “Swiss Borrower” and, together with
the Canadian Borrower, the US Borrower, the German Borrower and the UK Borrower, the “Borrowers”),
the Lenders and Issuers party thereto and Citicorp North America, Inc. (“Citicorp”), as
administrative agent and collateral agent for the Lenders and the Issuers (in such capacity, the
“Administrative Agent”).

W i t n e s s e t h:

     Whereas, the Borrowers have requested an amendment to the Credit Agreement as herein
set forth; and

     Whereas, the Borrowers, the Lenders signatory to a consent (an “Acknowledgment and
Consent”) and the Administrative Agent have agreed to amend the Credit Agreement on the terms and
subject to the conditions herein provided.

     Now, Therefore, in consideration of the foregoing, the mutual covenants and
obligations herein set forth and other good and valuable consideration, the adequacy and receipt of
which is hereby acknowledged, and in reliance upon the representations, warranties and covenants
herein contained, the parties hereto, intending to be legally bound, hereby agree as follows:

     Section 1. Capitalized terms used herein and not otherwise defined herein shall have the
meanings ascribed to such terms in the Credit Agreement, as amended hereby

     Section 2. Amendments. Subject to the terms and conditions set forth herein,
effective as of the Amendment Effective Date (as defined below):

     (a) the Credit Agreement (excluding the Exhibits and Schedules thereto) is hereby amended in
its entirety to read as Exhibit A attached hereto; and

     (b) the Schedules to the Credit Agreement are hereby amended by (i) inserting Schedule I-A
(Additional Commitments) to the Credit Agreement, in the form of Exhibit B-1 attached hereto,
directly following Schedule I (Commitments) and (ii) inserting Schedule 7.15-A (Post-Closing
Covenants II) to the Credit Agreement, in the form of Exhibit B-2 attached hereto, directly
following Schedule 7.15 (Post-Closing Covenants).

     Section 3. Consent to Amendments. The Administrative Agent and each Lender signatory
to an Acknowledgment and Consent hereby consent to the amendments to each of the

 

 

local law security agreements and/or guaranties listed on Exhibit C attached hereto, each in
form and substance satisfactory to the Administrative Agent.

     Section 4. Waivers. As of the Amendment Effective Date, each Lender signatory to an
Acknowledgment and Consent hereby consents to waive the following:

     (a) the Event of Default under Section 9.1(k) (Events of Default) solely as a result of the
consummation of the transactions contemplated under the Arrangement Agreement, dated as of February
10, 2007, among Hindalco Industries Limited, AVAluminum Inc. and the Company (the “Acquisition”),
until the earlier of (i) the third Business Day prior to the 60th day following the date on which
the Acquisition is consummated and (ii) in the event the Acquisition shall not have been
consummated on or prior thereto, July 7, 2007; provided, however, that none of the Borrowers shall,
nor shall they permit any of their respective Subsidiaries to, make any payment with respect to the
Senior Notes (other than scheduled payments of interest required thereby) prior to the 60th day
following the date on which the Acquisition is consummated; and

     (b) the notice of prepayment required pursuant to Section 2.8(a)(ii) (Optional Prepayments)
for prepayment of the Revolving Loans on the Amendment Effective Date with respect to which one
Business Day’s prior notice has been given.

     Section 5. Conditions Precedent to Effectiveness of this Amendment. This Amendment
shall become effective as of the first date (the “Amendment Effective Date”) on which each of the
following conditions precedent shall have been satisfied or duly waived:

     (a) Certain Documents. The Administrative Agent shall have received each of the following, in
form and substance satisfactory to the Administrative Agent:

          (i) this Amendment, duly executed by each of the Loan Parties, the Administrative Agent and
each Additional U.S. Term Lender;

          (ii) Acknowledgment and Consent, in the form set forth hereto as Exhibit D, duly executed by
each Additional U.S. Term Lender and each of the Lenders that, when combined, constitute the
Requisite Lenders;

          (iii) for the account of each Lender having requested the same by notice to the Administrative
Agent and the Company received by each at least three Business Days prior to the Amendment
Effective Date (or such later date as may be agreed by the Company), Notes conforming to the
requirements set forth in Section 2.7(d) of the Credit Agreement;

          (iv) to the extent reasonably requested by the Administrative Agent, a certificate of the
secretary, assistant secretary or other officer of each Loan Party in charge of maintaining books
and records of such Loan Party certifying as to the resolutions of such Loan Party’s board of
directors or other appropriate governing body approving and authorizing the execution, delivery and
performance of this Amendment and each document executed and delivered in connection therewith;

          (v) a favorable opinion of counsels to the Loan Parties, addressed to the Administrative Agent
and the Lenders in form and substance and from counsels reasonably satisfactory to the
Administrative Agent;

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          (vi) such additional documentation as the Administrative Agent may reasonably require.

     (b) Delivery of Amendments. The Administrative Agent shall have received amendments,
including, without limitation, delivery of any additional Collateral pursuant thereto, to the
Collateral Documents as contemplated by this Amendment, duly executed and delivered by the
Administrative Agent, the Collateral Agent and the applicable Loan Parties.

     (c) Other Conditions Precedent. As of the Amendment Effective Date, (i) the conditions
precedent set forth in Section 3.2 of the Credit Agreement shall have been satisfied, both before
and after giving effect to this Amendment and the Additional U.S. Term Loans, and (ii) the Company
shall be in compliance with the covenants set forth in Article V (Financial Covenants) of the
Credit Agreement as of the most recently ended Fiscal Quarter, both before and after giving effect
to such Additional U.S. Term Loans (in each case, after giving effect to the repayment of
Indebtedness with the advancement of the proceeds of such Additional U.S. Term Loans).

     (d) Payment of Fees Costs and Expenses. The Administrative Agent shall have received payment
of all fees, costs and expenses, including, without limitation, all fees, costs and expenses of the
Administrative Agent (including, without limitation, the reasonable fees and out-of-pocket expenses
of counsel for the Administrative Agent) in connection with this Amendment, the Credit Agreement
and each other Loan Document, as required by Section 8 hereof.

     (e) Representations and Warranties. Each of the representations and warranties contained in
Section 6 below shall be true and correct.

     (f) No Default or Event of Default. After giving effect to this Amendment, no Default or
Event of Default shall have occurred and be continuing.

     Section 6. Representations and Warranties. Each Loan Party hereby jointly and
severally represents and warrants to the Administrative Agent and each Lender, with respect to all
Loan Parties, as follows:

     (a) After giving effect to this Amendment, each of the representations and warranties in the
Credit Agreement and in the other Loan Documents are true and correct in all material respects on
and as of the date hereof as though made on and as of such date, except to the extent that any such
representation or warranty expressly relates to an earlier date and except for changes therein
expressly permitted by the Credit Agreement.

     (b) The execution, delivery and performance by each Loan Party of this Amendment have been
duly authorized by all requisite corporate, limited liability company or limited partnership action
on the part of such Loan Party and will not violate any of the articles of incorporation or bylaws
(or other constituent documents) of such Loan Party.

     (c) This Amendment has been duly executed and delivered by each Loan Party, and each of this
Amendment and the Credit Agreement as amended hereby constitutes the legal, valid and binding
obligation of such Loan Party, enforceable against such Loan Party in accordance with their terms,
except as the same may be limited by bankruptcy, insolvency, reorganization, moratorium or other
similar laws affecting the rights of creditors generally and by general principles of equity.

-3-

 

     (d) After giving effect to this Amendment, no Default or Event of Default has occurred and is
continuing as of the date hereof.

     Section 7. Continuing Effect; Liens and Guaranties.

     (a) Except as expressly set forth in this Amendment, all of the terms and provisions of the
Credit Agreement are and shall remain in full force and effect and each of the Borrowers shall
continue to be bound by all of such terms and provisions. The Amendment provided for herein is
limited to the specific provisions of the Credit Agreement specified herein and shall not
constitute an amendment of, or an indication of the Administrative Agent’s, any Lender’s or any
Issuer’s willingness to amend or waive, any other provisions of the Credit Agreement or the same
sections for any other date or purpose.

     (b) Each of the Borrowers and the Guarantors hereby consents to this Amendment, including all
increases in commitments and extensions of additional credit pursuant thereto and the execution,
delivery and performance of the other Loan Documents (if any) to be executed in connection
therewith. Each of the Loan Parties hereby acknowledges and agrees that all of its obligations,
including all Liens and Guaranties granted to the Secured Parties under the applicable Loan
Documents, are reaffirmed and that such Liens and Guaranties shall continue in full force and
effect on and after Effective Date to secure and support the Secured Obligations of the Borrowers
and the Guarantors.

     Section 8. Fees, Costs and Expenses.

     (a) As consideration for the execution of this Amendment, the Company, on behalf of each
Borrower, agrees to pay to the Administrative Agent for the account of each Lender for which the
Administrative Agent shall have received (by facsimile or otherwise) an executed Acknowledgment and
Consent (or a release from escrow of an Acknowledgment and Consent previously delivered in escrow)
with respect to this Amendment by 5 p.m. (New York time) on April 27, 2007 (the “Deadline”), a
waiver fee equal to 0.125% of the sum of (A) such Lender’s Revolving Credit Commitment then in
effect and (B) the principal amount of such Lender’s Term Loans then outstanding.

     (b) As provided in Section 11.3(a) (Costs and Expenses) of the Credit Agreement, the Borrowers
agree to reimburse the Administrative Agent for all reasonable fees, costs and expenses, including
the reasonable fees, costs and expenses of counsel or other advisors for advice, assistance or
other representation in connection with this Amendment.

     Section 9. Reference to and Effect on the Loan Documents.

     (a) As of the Effective Date, each reference in the Credit Agreement and the other Loan
Documents to “this Agreement,” “hereunder,” “hereof,” “herein,” or words of like import, and each
reference in the other Loan Documents to the Credit Agreement (including, without limitation, by
means of words like “thereunder”, “thereof” and words of like import), shall mean and be a
reference to the Credit Agreement as amended hereby, and this Amendment and the Credit Agreement
shall be read together and construed as a single instrument. Each of the table of contents and
lists of Exhibits and Schedules of the Credit Agreement shall be amended to reflect the changes
made in this Amendment.

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     (b) Except as expressly amended hereby, all of the terms and provisions of the Credit
Agreement and all other Loan Documents are and shall remain in full force and effect and are hereby
ratified and confirmed.

     (c) The execution, delivery and effectiveness of this Amendment shall not, except as expressly
provided herein, operate as a waiver of any right, power or remedy of the Administrative Agent, any
Lender or any Issuer under the Credit Agreement or any Loan Document, or constitute a waiver or
amendment of any other provision of the Credit Agreement or any Loan Document except as and to the
extent expressly set forth herein.

     (d) Each Loan Party hereby confirms that the guaranties, security interests and liens granted
pursuant to the Loan Documents continue to guarantee and secure the Obligations as set forth in the
Loan Documents and that such guaranties, security interests and liens remain in full force and
effect.

     Section 10. Counterparts. This Amendment may be executed in any number of
counterparts and by different parties hereto in separate counterparts, each of which when so
executed shall be deemed to be an original and all of which taken together shall constitute one and
the same agreement. Receipt by the Administrative Agent of a facsimile copy of an executed
signature page hereof shall constitute receipt by the Administrative Agents of an executed
counterpart of this Amendment.

     Section 11. Governing Law. This Amendment and the rights and obligations of the
parties hereto shall be governed by, and construed and interpreted in accordance with, the law of
the State of New York.

     Section 12. Headings. Section headings contained in this Amendment are included
herein for convenience of reference only and shall not constitute a part of this Amendment for any
other purposes.

     Section 13. Waiver of Jury Trial. Each Of The Parties Hereto Irrevocably Waives
Trial By Jury In Any Action Or Proceeding With Respect To This Amendment Or Any Other Loan
Document.

[Signature Pages Follow]

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     In Witness Whereof, the parties hereto have caused this Amendment to be executed by
their respective officers and members thereunto duly authorized, on the date indicated below.

	 	 	 	 	 
	 	Novelis Inc.

     as Borrower and Guarantor

 	 
	 	By:  	/s/ Orville Lunking
 	 
	 	 	Name:  	Orville Lunking 	 
	 	 	Title:  	Vice President and Treasurer 	 
	 

	 	 	 	 	 
	 	Novelis Corporation,

     as Borrower and Guarantor

 	 
	 	By:  	/s/ Orville Lunking
 	 
	 	 	Name:  	Orville Lunking 	 
	 	 	Title:  	Attorney in Fact 	 
	 

	 	 	 	 	 
	 	Novelis Deutschland GmbH,

     as Borrower and Guarantor

 	 
	 	By:  	/s/ Leslie J. Parrette, Jr.
 	 
	 	 	Name:  	Leslie J. Parette, Jr. 	 
	 	 	Title:  	Attorney in Fact 	 
	 

	 	 	 	 	 
	 	Executed as a deed by

Novelis UK Ltd,

     as Borrower and Guarantor

 	 
	 	By:  	/s/ Orville Lunking
 	 
	 	 	Name:  	Orville Lunking 	 
	 	 	Title:  	Attorney in Fact 	 
	 

	 	 	 	 	 
	 	Novelis AG,

     as Borrower and Guarantor

 	 
	 	By:  	/s/ Orville Lunking
 	 
	 	 	Name:  	Orville Lunking 	 
	 	 	Title:  	Attorney in Fact 	 
	 

 

 

	 	 	 	 	 
	 	Eurofoil Inc. (USA),

     as Guarantor

 	 
	 	By:  	/s/ Orville Lunking
 	 
	 	 	Name:  	Orville Lunking 	 
	 	 	Title:  	Attorney in Fact 	 
	 

	 	 	 	 	 
	 	Novelis PAE Corporation,

     as Guarantor

 	 
	 	By:  	/s/ Orville Lunking
 	 
	 	 	Name:  	Orville Lunking 	 
	 	 	Title:  	Attorney in Fact 	 
	 

	 	 	 	 	 
	 	Novelis Cast House Technology Ltd.,

     as Guarantor

 	 
	 	By:  	/s/ Orville Lunking
 	 
	 	 	Name:  	Orville Lunking 	 
	 	 	Title:  	Attorney in Fact 	 
	 

	 	 	 	 	 
	 	4260848 Canada Inc.,

     as Guarantor

 	 
	 	By:  	/s/ Orville Lunking
 	 
	 	 	Name:  	Orville Lunking 	 
	 	 	Title:  	Attorney in Fact 	 
	 

	 	 	 	 	 
	 	4260856 Canada Inc.,

     as Guarantor

 	 
	 	By:  	/s/ Orville Lunking
 	 
	 	 	Name:  	Orville Lunking 	 
	 	 	Title:  	Attorney in Fact 	 
	 

	 	 	 	 	 
	 	Executed as a deed by

Novelis Europe Holdings Limited,

     as Guarantor

 	 
	 	By:  	/s/ Orville Lunking
 	 
	 	 	Name:  	Orville Lunking 	 
	 	 	Title:  	Attorney in Fact 	 
	 

 

 

	 	 	 	 	 
	 	Novelis do Brasil Ltda,

     as Guarantor

 	 
	 	By:  	/s/ Orville Lunking
 	 
	 	 	Name:  	Orville Lunking 	 
	 	 	Title:  	Attorney in Fact 	 
	 

	 	 	 	 	 
	 	Novelis Switzerland AG,

     as Guarantor

 	 
	 	By:  	/s/ Orville Lunking
 	 
	 	 	Name:  	Orville Lunking 	 
	 	 	Title:  	Attorney in Fact 	 
	 

	 	 	 	 	 
	 	Novelis Technology AG,

     as Guarantor

 	 
	 	By:  	/s/ Orville Lunking
 	 
	 	 	Name:  	Orville Lunking 	 
	 	 	Title:  	Attorney in Fact 	 
	 

	 	 	 	 	 
	 	Present when the Common Seal of

Novelis Aluminium Holding Company,

     as Guarantor was 

hereunto affixed in the presence of

 	 
	 	By:  	/s/ Orville Lunking
 	 
	 	 	Name:  	Orville Lunking 	 
	 	 	Title:  	Attorney in Fact 	 
	 

	 	 	 	 	 
	 	Novelis Finances USA LLC,

     as Guarantor

 	 
	 	By:  	/s/ Orville Lunking
 	 
	 	 	Name:  	Orville Lunking 	 
	 	 	Title:  	Attorney in Fact 	 
	 

	 	 	 	 	 
	 	Aluminum Upstream Holdings LLC

     as Guarantor

 	 
	 	By:  	/s/ Orville Lunking
 	 
	 	 	Name:  	Orville Lunking 	 
	 	 	Title:  	Vice President and Treasurer 	 
	 

 

 

	 	 	 	 	 
	 	Novelis South America Holdings LLC

     as Guarantor

 	 
	 	By:  	/s/ Orville Lunking
 	 
	 	 	Name:  	Orville Lunking 	 
	 	 	Title:  	Vice President and Treasurer 	 
	 

 

 

	 	 	 	 	 
	 	Citicorp North America, Inc.,

     as Administrative Agent under the Credit Agreement

 	 
	 	By:  	/s/ Arnold Y. Wong
 	 
	 	 	Name:  	Arnold Y. Wong 	 
	 	 	Title:  	Vice PresidentEX-10.1 Lease Agreement

 

EXHIBIT 10.1

355 Alhambra Plaza; Catalyst Pharmaceutical Partners, Inc.

LEASE SUMMARY

The following is a summary of basic lease provisions with respect to the Lease. It is an
integral part of the Lease, and terms defined or dollar amounts specified in this Summary shall
have the meanings or amounts as stated, unless expanded upon in the text of the Lease and its
Exhibits, which are attached to and made a part of this summary.

	 	 	 	 	 	 	 
	 	1.	 	 	Date of Lease Execution:
	 	March 26, 2007

	 	 	 	 	 	 	 

	 	2.	 	 	“Landlord”:
	 	355 Alhambra Plaza, Ltd., a Florida
limited partnership

	 	 	 	 	 	 	 

	 	3.	 	 	Landlord’s Address:
	 	c/o Flagler Real Estate
Services, Inc.

355 Alhambra Circle, Suite 900

Coral Gables, Florida 33134

Attention: Property Manager

	 	 	 	 	 	 	 

	 	 	 	 	 	 	With a copy to:

	 	 	 	 	 	 	 

	 	 	 	 	 	 	JP Morgan Asset Management — Real Estate

245 Park Avenue, 2nd Floor 

Mail Code NY1-Q220

New York, NY 10167

Attention: Joseph B. Dobronyi, Jr.

	 	 	 	 	 	 	 

	 	4.	 	 	“Tenant”:
	 	Catalyst Pharmaceutical Partners, Inc., a
Delaware corporation qualified to do
business in the State of Florida

	 	 	 	 	 	 	 

	 	5.	 	 	Tenant’s Address:
	 	Prior to Commencement Date:

	 	 	 	 	 	 	220 Miracle Mile, #234

Coral Gables, Florida 33134

Attention: Patrick J. McEnany

	 	 	 	 	 	 	 

	 	 	 	 	 	 	On and after Commencement Date:

	 	 	 	 	 	 	355 Alhambra Circle

Coral Gables, Florida 33134

Attention: Patrick J. McEnany

	 	 	 	 	 	 	 

	 	6.	 	 	“Guarantor”:
	 	N/A

	 	 	 	 	 	 	 

	 	7.	 	 	Guarantor’s Address:
	 	N/A

 

 

	 	 	 	 	 	 	 
	 	8.	 	 	Premises (Section 1.1):
	 	As shown on Exhibit A

	 	 	 	 	 	 	 

	 	9.	 	 	Gross Rentable Area of Premises (Section 1.1):
	 	Approximately 1,616 rentable square feet
located on the 13th floor of
the Building, known as Suite 1370,
measured in accordance with ANSI-BOMA
Z65.1-1996 standards (“BOMA Standards”)

	 	 	 	 	 	 	 

	 	10.	 	 	Gross Rentable Area of Building (Section 1.1):
	 	 

	 	 	 	 	 	 	Approximately 224,241 rentable square feet

	 	 	 	 	 	 	 

	 	11.	 	 	Tenant’s Proportionate Share (Section 2.3):
	 	1,616/224,241 = 0.72%

	 	 	 	 	 	 	 

	 	12.	 	 	Permitted Use of Premises (Section 3.1):
	 	General Office

	 	 	 	 	 	 	 

	 	13.	 	 	Term of Lease (Section 1.2):
	 	63 months

“Commencement Date”: The earlier of (i)
Substantial Completion of the Premises
(as defined in the Work Letter attached
hereto as Exhibit D), estimated to be
June 15, 2007, and (ii) the date that
Tenant takes possession of the Premises

	 	 	 	 	 	 	 

	 	 	 	 	 	 	“Expiration Date”: The last day of the
63rd month after the month in
which occurred the Commencement Date, or
if the Commencement Date occurs on the
first day of the month, the
63rd monthly anniversary of
such date

	 	 	 	 	 	 	 

	 	14.	 	 	Option to Renew (Rider 1, if applicable):
	 	N/A

	 	 	 	 	 	 	 

	 	15.	 	 	“Base Rent” (Section 2.2):
	 	For the first Lease Year, Base Rent
shall be paid at the rate of $35.00 per
rentable square foot, i.e. approximately
$56,560.00 per annum, plus applicable
sales tax, commencing ninety (90) days
after the Commencement Date. The Base
Rent per square foot for each subsequent
Lease Year shall be 103% of the Base
Rent per square foot for the prior Lease
Year, commencing the first day of the
twelfth month following the Commencement
Date

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	 	16.	 	 	Prepaid Rent:
	 	$4,444.00 (excludes sales tax) (due upon
execution of Lease; to be applied to
first full month Base Rent is due)

	 	 	 	 	 	 	 

	 	17.	 	 	Security Deposit (Section 2.6):
	 	$8,888.00(excludes sales tax) (due upon
execution of Lease)

	 	 	 	 	 	 	 

	 	18.	 	 	Cost Pass-Throughs (Section 2.3):
	 	Increased Operating Costs.

	 	 	 	 	 	 	 

	 	19.	 	 	“Base Year” (Section 2.3):
	 	2007

	 	 	 	 	 	 	 

	 	20.	 	 	Commercial General Liability Insurance (Section 6.1):
	 	$1,000,000.00

	 	 	 	 	 	 	 

	 	21.	 	 	No. of Parking Spaces:
	 	3 parking spaces per 1,000 rentable
square feet in the Premises (i.e., 5
parking spaces); See Exhibit C hereto

	 	 	 	 	 	 	 

	 	22.	 	 	Broker (s) (Section 14.12):
	 	Flagler Real Estate Services ONCOR
International and EWM Realtors

	 	 	 	 	 	 	 

	 	23.	 	 	Tenant Improvement Allowance:
	 	$20.00 per square foot of rentable area.

	 	 	 	 	 	 	 

	 	24.	 	 	“Additional Rent”:
	 	All sums payable by Tenant pursuant to
this Lease other than Base Rent and
Increased Operating Costs

-iii-

 

 

LEASE

THIS LEASE (the “Lease”), dated March 26, 2007, is made between 355 Alhambra Plaza, Ltd., a Florida
limited partnership (the “Landlord”), and Catalyst Pharmaceutical Partners, Inc., a Delaware
corporation authorized to do business in the State of Florida (the “Tenant”).

ARTICLE I

BASIC LEASE PROVISIONS

1.1 Grant. In consideration of the performance by the Tenant of its obligations under this
Lease, the Landlord leases to the Tenant, and the Tenant leases from the Landlord, for the Term,
the “Premises,” which Premises are shown outlined on the floor plan attached hereto and made a part
hereof as Exhibit A. The Premises are located in that certain office building known as 355
Alhambra Circle (the ''Building”), located in Coral Gables, Florida, on the land described in
Exhibit B, attached hereto and made a part hereof. The Gross Rentable Area of the Premises (which
includes a proportionate share of the Common Areas) and the Building are approximately as shown on
the Lease Summary. Upon Substantial Completion (as defined in the Work Letter Agreement between
Landlord and Tenant, of even date herewith (the “Work Letter”)) of the Premises, Landlord shall
direct its architect to determine the square footage of the Premises and the Building as actually
constructed, both in accordance with the BOMA Standards, and certify as to same to both Landlord
and Tenant. If the square footage of the Premises and/or the Building as determined by Landlord’s
architect is greater or less than the amount specified in the Lease Summary, then the square
footage of the Premises and/or Building, as applicable, shall be adjusted to equal the amount as so
determined, and the Base Rent, Tenant’s Proportionate Share of Increased Operating Costs, and any
other items specified in this Lease as a function of square footage (except any provision which
requires Tenant to lease and/or be in occupancy of a specified portion of the Building) shall be
adjusted accordingly.

1.2 Term. The “Term” of the Lease is the period from the Commencement Date as specified in
the Lease Summary, through the Expiration Date, as specified in the Lease Summary. If the Premises
are Substantially Completed (as such term is defined in the Work Letter) prior to June 15, 2007,
then Tenant shall take occupancy on such date and Tenant’s obligations to pay Base Rent and all
other charges shall commence on the date that is ninety (90) days from such date. If Landlord
cannot deliver possession of the Premises to Tenant on the Commencement Date, this Lease shall not
be void or voidable, nor shall Landlord be liable to Tenant for any loss or damage resulting
therefrom, but in that event, this Lease shall in all ways remain in full force and effect except
that Base Rent and other charges shall be waived for the period between the Commencement Date and
the time when Landlord can deliver possession; provided, however, if delivery of possession is
delayed more than 180 days past the scheduled Commencement Date, Tenant may terminate this Lease
upon 15 days’ written notice to Landlord, whereupon both parties shall be relieved of all further
obligations hereunder. Notwithstanding the foregoing, if delivery of possession is delayed due to
any act or omission of Tenant, then the Commencement Date shall be the date Landlord would have
delivered possession, but for Tenant’s delay.

 

 

1.3 Improvements; Work Letter. The Landlord shall have no construction or improvement
obligations with respect to the Premises unless expressly set forth in a Work Letter, which, if
executed by Landlord and Tenant, shall be incorporated as an exhibit to this Lease. Within three
(3) Business Days after notice from Landlord that the Premises are ready for inspection,
representatives of Landlord and Tenant shall inspect the Premises and execute a written punch list
of construction defects and incomplete work. Upon the expiration of 10 Business Days following the
Commencement Date, the Premises shall be conclusively deemed to be accepted by Tenant unless Tenant
shall have given Landlord written notice of any alleged defects in the Premises.

ARTICLE II

RENT

2.1 Covenant to Pay. The Tenant shall pay to Landlord all sums due hereunder from time to
time from the Commencement Date without prior demand, together with all applicable Florida sales
tax thereon; however, unless otherwise provided in this Lease, payments other than Tenant’s regular
monthly payments of Base Rent and Increased Operating Costs shall be payable by Tenant to Landlord
within 10 days following written demand. All rent or other charges that are required to be paid by
Tenant to Landlord shall be payable at Landlord’s address indicated on the Lease Summary. Base Rent
and Additional Rent for any ''Lease Year” consisting of less than 12 months shall be prorated on a
per diem basis, based upon a period of 365 days. The first “Lease Year” is (i) the 12 full
calendar months commencing on the Commencement Date, if the Commencement Date is the first day of a
month; or (ii) the balance of the calendar month in which the Commencement Date occurs plus the 12
full calendar months thereafter, if the Commencement Date is not the first day of a month.
Subsequent Lease Years shall be the 12-month periods ending on the anniversary of the expiration of
the first Lease Year. However, the final Lease Year may contain less than 12 months due to
expiration or sooner termination of the Term. The Tenant agrees that its covenant to pay rent and
all other sums under this Lease is an independent covenant and that all such amounts are payable
without counterclaim, set-off, deduction, abatement, or reduction whatsoever, except as expressly
provided for in this Lease.

2.2 Base Rent. Subject to any escalation which may be provided for in this Lease, the
Tenant shall pay Base Rent for the Term in the initial amount specified in the Lease Summary,
which, except for the first installment, shall be payable throughout the Term in equal monthly
installments in advance on the first day of each calendar month of each year of the Term, such
monthly installments to be in the amounts (subject to escalation) specified in the Lease Summary.
The first monthly installment of Base Rent shall be due on the date of this Lease. The Base Rent
shall be adjusted as provided in the Lease Summary.

2.3 Operating Costs. The Tenant shall pay to the Landlord the Tenant’s Proportionate Share
of the amount by which the annual Operating Costs, as hereinafter defined, for each calendar year
exceed the Operating Costs incurred during the Base Year specified in the Lease Summary. Such
excess is referred to for purposes of this Lease as the “Increased Operating Costs”. Tenant’s
obligation to pay Tenant’s Proportionate Share of Increased Operating Costs shall commence as of
the beginning of the first full calendar year following the Base Year. The

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amount of Increased Operating Costs payable to the Landlord may be reasonably estimated by the
Landlord for such period as the Landlord determines from time to time (not to exceed twelve (12)
months), and the Tenant agrees to pay to the Landlord the amounts so estimated in equal
installments, in advance, on the first day of each month during such period. Notwithstanding the
foregoing, when bills for all or any portion of Increased Operating Costs so estimated are actually
received by Landlord, the Landlord may bill the Tenant for the Tenant’s Proportionate Share
thereof, less any amount previously paid by Tenant to Landlord on account of such item(s) by way of
estimated Increased Operating Costs payments.

Within 90 days after the end of the period for which estimated payments have been made, the
Landlord shall submit to the Tenant a reasonably detailed statement from the Landlord setting forth
the actual amounts payable by the Tenant based on actual costs. Tenant shall have thirty (30) days
from receipt of such statement to review same and to submit to Landlord in writing any objections
of Tenant thereto. If no written objections are received by Landlord within said thirty-day
period, such statement shall be conclusively deemed to be correct and final as between the parties,
and Tenant shall have no right to and specifically waives any right to object to or dispute such
statement. If the amount the Tenant has paid based on estimates is less than the amount due based
on actual costs, the Tenant shall pay such deficiency within thirty (30) days after submission of
such statement. If the amount paid by the Tenant is greater than the amount actually due, the
excess may be retained by the Landlord to be credited and applied by the Landlord to the next due
installments of the Tenant’s Proportionate Share of Increased Operating Costs, or as to the final
Lease Year, provided Tenant is not in default, Landlord will refund such excess to Tenant. The
Tenant’s Proportionate Share of actual Increased Operating Costs for the final estimate period of
the Term of this Lease shall be due and payable even though it may not be finally calculated until
after the expiration of the Term. Accordingly, Landlord shall have the right to continue to hold
Tenant’s security deposit following expiration of the Term until Tenant’s share of actual Increased
Operating Costs has been paid.

For purposes of this Lease, Tenant’s Proportionate Share shall be a fraction, the numerator of
which is the Gross Rentable Area of the Premises, and the denominator of which is the Gross
Rentable Area of the Building (which is set forth in the Lease Summary). Tenant’s Proportionate
Share is as set forth in the Lease Summary. The term “Operating Costs” shall mean any amounts paid
or payable whether by the Landlord or by others on behalf of the Landlord, arising out of
Landlord’s maintenance, operation, repair, replacement and administration of the Building and
Common Areas, including, without limitation: (i) the cost of all real estate, personal property
and other ad valorem taxes, and any other levies, charges, local improvement rates, and assessments
whatsoever assessed or charged against the Building and Common Areas, the equipment and
improvements therein contained, and including any amounts assessed or charged in substitution for
or in lieu of any such taxes, excluding only income or capital gains taxes imposed upon Landlord,
and including all costs associated with the appeal of any assessment or taxes; (ii) the cost of
insurance which the Landlord is obligated or permitted to obtain under this Lease and any
deductible amount applicable to any claim made by the Landlord under such insurance; (iii) the cost
of security, janitorial, landscaping, garbage removal, and trash removal services; (iv) the cost of
heating, ventilating, and air conditioning, to the extent incurred with respect to Common Areas or
with respect to any shared systems; (v) the cost of all fuel, water,

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electricity, telephone, sewer, sprinkler and any other utilities used in the maintenance,
operation, or administration of the Building and Common Areas; (vi) salaries, wages, and any other
amounts paid or payable for all personnel involved in the repair, maintenance, operation, security,
supervision, or cleaning of the Building and Common Areas (including, without limitation, the
elevators); and (vii) a reasonable management fee. Notwithstanding anything to the contrary
provided for herein, Tenant shall not be obligated to pay for Tenant’s Proportionate Share of
Increased Operating Costs in any given Lease Year to the extent that such Proportionate Share of
Increased Operating Costs exceeds 105% of Tenant’s Proportionate Share of Increased Operating Costs
for all prior Lease Years on a cumulative and compounded basis; provided, however, that no such
limitations shall apply to Tenant’s Proportionate Share of Increased Operating Costs attributable
to the costs item listed in the foregoing clauses (i), (ii), (iv), and (v).

In determining the amount of Operating Costs for any calendar year, if less than 95% of the
Building shall have been occupied by tenants, Operating Costs shall be increased to an amount equal
to the Operating Costs which would normally be expected to be incurred had such occupancy been 95%
during the entire calendar year.

Notwithstanding anything to the contrary contained in this Lease, the following costs and expenses
shall be excluded from Operating Costs:

     (1) expenses relating to the leasing of space in the Building (including tenant improvements
and painting, decorating, Landlord construction allowances or contributions, leasing commissions,
rental concessions, and advertising expenses incurred in connection with the listing of available
space in the Building);

     (2) legal fees and disbursements incurred for negotiation of leases or enforcement of leases;

     (3) the cost of utilities in the Building to the extent paid for directly by tenants;

     (4) expenditures for financing and refinancing and for mortgage debt service or any other cost
incurred in respect of any mortgage or other financing of the Building except for expenditures
incurred in connection with items which (i) if leased, the lease payments with respect to which
would be included in Operating Costs or (ii) if purchased would be amortizable pursuant to item (8)
below;

     (5) depreciation of the Building and amortization except as otherwise expressly set forth
herein;

     (6) franchise, transfer, gains, inheritance, estate, mortgage recording, and income taxes
imposed upon Landlord;

     (7) salaries or fringe benefits of personnel above the grade of building manager;

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     (8) capital improvements or replacement of capital items except that if such capital
improvements or capital items are either (i) intended by Landlord in good faith to achieve a
verifiable expense savings in Operating Costs or (ii) required in order to comply with Legal
Requirements adopted after the issuance of the first certificate of occupancy for tenant space in
the Building, then such cost shall be evenly amortized over the life of the capital improvement
with interest imputed on the unamortized portion at the interest rate customarily utilized by
Landlord in its amortization of capital improvements, which interest rate shall be in accordance
with generally accepted accounting principles (but in no event shall the annual pass-through of any
such capital items described in clause (i) of this item (8) substantially exceed the annual savings
in Operating Costs derived therefrom);

     (9) costs for which Landlord receives a credit against any payment due from Landlord to Tenant
or any third party costs and expenses otherwise includible in Operating Costs, to the extent that
Landlord is reimbursed from other sources for such costs and expenses;

     (10) rent and additional rent payable under a ground lease or any other superior lease
affecting the Building;

     (11) costs for which Landlord is compensated by insurance proceeds exclusive of deductibles;

     (12) costs incurred in connection with a sale of all or a portion of the Building or the sale
or transfer of any beneficial ownership interest in and to the Landlord and/or the Building or the
grant of a ground lease or any other superior lease affecting the Building;

     (13) any fee or expenditure (other than the management fee referred to in clause (vii) of the
second preceding paragraph) paid to a related party in excess of the amount which would be paid in
an arm’s-length transaction for materials or services of comparable quality (but only to the extent
of such excess);

     (14) salaries or fringe benefits of personnel not employed exclusively at the Building, to the
extent such salaries and benefits relate to work performed not at the Building, as determined on a
pro rata basis;

     (15) any expense fully reimbursed to Landlord by Tenant or any other tenant of the Building,
or any expense billed to and paid directly by same for their own account or on Landlord’s behalf
(other than Operating Costs passed through to all tenants pursuant to lease provisions
substantially similar to this Section 2.3);

     (16) advertising and promotional expenditures;

     (17) any bad debt loss, rent loss, or reserves for bad debts or rent loss;

     (18) costs incurred by Landlord for repairs or replacements to the extent that Landlord is
reimbursed under warranties or guarantees; and

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     (19) costs or expenses attributable to the operation or management of the parking facility
within the Building.

2.4 Payment of Personal Property Taxes. Tenant shall pay, when due, all taxes attributable
to the personal property, trade fixtures, business, occupancy, or sales of Tenant or any other
occupant of the Premises and to the use of the Building by Tenant or such other occupant.

2.5 Rent Past Due. If any payment due from Tenant shall be overdue by five days or more, a
late charge of 5% of the delinquent sum may be charged by Landlord. If any payment due from Tenant
shall remain overdue for more than five days after written notice from Landlord that such payment
is overdue, an additional late charge in an amount equal to the lesser of the highest rate
permitted by law or 11/2% per month (18% per annum) times the delinquent amount may be charged by
Landlord, such charge to be computed for the entire period for which the amount is overdue and
which shall be in addition to and not in lieu of the 5% late charge or any other remedy available
to Landlord. Notwithstanding the foregoing, if Landlord gives Tenant two notices of overdue
payments of Base Rent within any 12-month period, no further notice shall be required during the
balance of the Term in order for Landlord to collect the additional late charge specified above.

2.6 Security Deposit. The Landlord acknowledges receipt of a security deposit in the
amount specified on the Lease Summary to be held by the Landlord, without any liability for
interest thereon, as security for the performance by the Tenant of all its obligations under this
Lease. Landlord shall be entitled to commingle the security deposit with Landlord’s other funds.
If Tenant defaults in any of its obligations under this Lease, the Landlord may at its option, but
without prejudice to any other rights which the Landlord may have, apply all or part of the
security deposit to compensate the Landlord for any loss, damage, or expense sustained by the
Landlord as a result of such default. If all or any part of the security deposit is so applied,
the Tenant shall restore the security deposit to its original amount on demand of the Landlord.
Subject to the provisions of Section 2.3, within 30 days following termination of this Lease, if
the Tenant is not then in default, the security deposit will be returned by the Landlord to the
Tenant.

2.7 Landlord’s Lien. To secure the payment of all rent and other sums of money due and to
become due hereunder and the faithful performance of this Lease by Tenant, Tenant hereby gives to
Landlord an express first and prior contract lien and security interest on all property now or
hereafter acquired (including fixtures, equipment, chattels, and merchandise) which may be placed
in the Premises and also upon all proceeds of any insurance which may accrue to Tenant by reason of
destruction of or damage to any such property. Such property shall not be removed from the
Premises without the prior written consent of Landlord until all arrearages in rental and other
sums of money then due to Landlord hereunder shall first have been paid. All exemption laws are
hereby waived in favor of said lien and security interest. This lien and security interest is
given in addition to Landlord’s statutory lien and shall be cumulative thereto. Landlord shall, in
addition to all of its rights hereunder, also have all of the rights and remedies of a secured
party under the Uniform Commercial Code as adopted in the State in which the Premises is

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located. To the extent permitted by law, this Lease shall constitute a security agreement under
Article 9 of the Florida Uniform Commercial Code. Notwithstanding the foregoing, Landlord agrees
to subordinate its lien to a bona fide institutional lender providing acquisition financing or
lease financing for Tenant’s furniture, fixtures, and equipment, so that Landlord will have a
second lien on such furniture, fixtures, and equipment.

ARTICLE III

USE OF PREMISES

3.1 Permitted Use. The Premises shall be used and occupied only for the use specified in
the Lease Summary. Notwithstanding the foregoing, Tenant acknowledges and agrees that at no time
during the Term of the Lease shall the Premises be used for (i) governmental or medical uses, (ii)
a securities or discount securities brokerage firm, or (iii) the sale of securities or mutual fund
shares. Tenant shall carry on its business on the Premises in a reputable manner and shall not do,
omit, permit, or suffer to be done or exist upon the Premises anything which shall result in a
nuisance, hazard, or bring about a breach of any provision of this Lease or any applicable
municipal or other governmental law or regulation. Tenant shall observe all reasonable rules and
regulations established by Landlord from time to time for the Building. The rules and regulations
in effect as of the date hereof are attached to and made a part of this Lease as Exhibit E. The
names for the Building, which the Landlord may from time to time adopt, and every name or mark
adopted by the Landlord in connection with the Building shall be used by the Tenant only in
association with the business carried on in the Premises during the Term and the Tenant’s use
thereof shall be subject to such reasonable regulation as the Landlord may from time to time
impose.

3.2 Compliance with Laws. The Premises shall be used and occupied in a safe, careful, and
proper manner so as not to contravene any present or future governmental or quasi governmental
laws, regulations, or orders (collectively, “Legal Requirements”), or the requirements of the
Landlord’s or Tenant’s insurers (collectively, “Insurance Requirements”). If due to the Tenant’s
use of the Premises, repairs, improvements, or alterations are necessary to comply with any of the
foregoing, the Tenant shall pay the entire cost thereof.

3.3 Signs. Except with the prior written consent of the Landlord, the Tenant shall not
erect, install, display, inscribe, paint, or affix any signs, lettering, or advertising medium upon
or above any exterior portion of the Premises. Landlord, at its expense, will provide one building
standard identification sign outside the principal entry to the Premises and will provide space on
a directory in the Building lobby.

3.4 Environmental Provisions. Tenant agrees that it will not use or employ the Landlord’s
and/or the Building property, facilities, equipment, or services to handle, transport, store,
treat, or dispose of any hazardous waste or hazardous substance, whether or not it was generated or
produced on the Premises (other than general cleaning and office supplies used in the ordinary
course of business and in compliance with all Legal Requirements); and Tenant further agrees that
any activity on or relating to the Premises shall be conducted in full compliance with all
applicable laws. Tenant agrees to defend, indemnify, and hold harmless Landlord against any

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and all claims, costs, expenses, damages, liability, and the like, which Landlord may hereafter be
liable for, suffer, incur, or pay arising under any applicable laws and resulting from or arising
out of any breach of Tenant’s covenants contained in this Section 3.4, or out of any act, activity,
or violation of any applicable laws on the part of Tenant, its agents, employees, or assigns.
Tenant’s liability under this Section 3.4 shall survive the expiration or any termination of this
Lease.

ARTICLE IV

ACCESS AND ENTRY

4.1 Right of Examination. The Landlord shall be entitled at all reasonable times and upon
reasonable notice (but no notice is required in emergencies) to enter the Premises to examine them;
to make such repairs, alterations, or improvements thereto as the Landlord considers necessary or
reasonably desirable; to have access to underfloor facilities and access panels to mechanical
shafts and risers and to check, calibrate, adjust, and balance controls and other parts of the
heating, air conditioning, ventilating, climate control, telecommunications and other Building
systems. The Landlord reserves to itself the right to install, maintain, use, and repair pipes,
ducts, conduits, vents, wires, and other installations leading in, through, over, or under the
Premises, and for this purpose, the Landlord may take all material into and upon the Premises which
is required therefor. The Tenant shall not unduly obstruct any pipes, conduits, or mechanical or
other electrical equipment so as to prevent reasonable access thereto. The Landlord reserves the
right to use all exterior walls and roof area. The Landlord shall exercise its rights under this
Section, to the extent possible in the circumstances, in such manner so as to minimize interference
with the Tenant’s use and enjoyment of the Premises.

4.2 Right to Show Premises. The Landlord and its agents have the right to enter the
Premises at all reasonable times and upon reasonable notice to show them to prospective purchasers,
lenders, or anyone having a prospective interest in the Building, and, during the last six months
of the Term (or the last six (6) months of any renewal term if this Lease is renewed), to show them
to prospective tenants.

ARTICLE V

MAINTENANCE, REPAIRS, AND ALTERATIONS

5.1 Maintenance and Repairs by Landlord. The Landlord covenants to keep the following in
good repair as a prudent owner: (i) the structure of the Building including exterior walls,
windows (unless damaged by Tenant, in which event Tenant shall repair same) and roofs; (ii) the
mechanical, electrical, HVAC, and other base building systems (except such as may be installed by
or be the property of the Tenant or as may be serving only the Premises); and (iii) the entrances,
sidewalks, corridors, parking areas and other facilities from time to time comprising the Common
Areas. The cost of such maintenance and repairs shall be included in Operating Costs. So long as
the Landlord is acting in good faith, the Landlord shall not be responsible for any damages caused
to the Tenant by reason of failure of any equipment or facilities serving the Building or delays in
the performance of any work for which the Landlord is responsible pursuant to this Lease.
Notwithstanding any other provisions of this Lease, if any part of the

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Building is damaged or destroyed or requires repair, replacement, or alteration as a result of the
act or omission of the Tenant, its employees, agents, invitees, licensees, or contractors, Landlord
shall have the right to perform same and the cost of such repairs, replacement, or alterations
shall be paid by the Tenant to the Landlord upon demand. In addition, if, in an emergency, it
shall become necessary to make promptly any repairs or replacements required to be made by Tenant,
Landlord may enter the Premises and proceed forthwith to have the repairs or replacements made and
pay the costs thereof. Upon demand, Tenant shall reimburse Landlord for the cost of making the
repairs.

5.2 Maintenance and Repairs by Tenant. The Tenant shall, at its sole cost, repair and
maintain the Premises (including, without limitation, floor and wall coverings and non-Building
standard electric light bulbs and tubes and tube casings installed by Tenant) exclusive of base
building mechanical and electrical systems, all to a standard consistent with a first class office
building, with the exception only of those repairs which are the obligation of the Landlord
pursuant to this Lease. All repair and maintenance performed by the Tenant in the Premises shall
be performed by contractors or workmen designated or approved by the Landlord. At the expiration
or earlier termination of the Term, the Tenant shall surrender the Premises to the Landlord in as
good condition and repair as the Tenant is required to maintain the Premises throughout the Term,
reasonable wear and tear excepted.

5.3 Approval of Tenant’s Alterations. No alterations (including, without limitation,
repairs, replacements, additions, or modifications to the Premises by Tenant), other than minor or
cosmetic alterations which are interior and nonstructural, shall be made to the Premises without
the Landlord’s written approval, which, as to exterior or structural alterations and alterations
which affect the base Building Systems, may be withheld in Landlord’s sole discretion. Any
alterations by Tenant shall be performed at the sole cost of the Tenant, by contractors and workmen
approved by the Landlord and insured to Landlord’s reasonable satisfaction, in a good and
workmanlike manner, and in accordance with all applicable laws and regulations. As to interior,
nonstructural alterations which do not affect the base Building systems, Landlord’s approval shall
not be unreasonably withheld, conditioned or delayed. Tenant shall pay to Landlord or Landlord’s
designee a fee for the supervision of any alterations made by or on behalf of Tenant equal to 5% of
all hard costs and soft costs (including, without limitation, all permitting fees) incurred by
Tenant in connection therewith. Such fee shall be due and payable within 10 days following written
demand therefor by Landlord.

5.4 Removal of Improvements and Fixtures. All leasehold improvements (other than
unattached, movable trade fixtures which can be removed without damage to the Premises) shall at
the expiration or earlier termination of this Lease become the Landlord’s property. The Tenant
may, during the Term, in the usual course of its business, remove its trade fixtures, provided that
the Tenant is not in default under this Lease; and the Tenant shall, at the expiration or earlier
termination of the Term, at its sole cost, remove such of the leasehold improvements (except for
improvements installed by Landlord prior to the Commencement Date) and trade fixtures in the
Premises as the Landlord shall require to be removed and restore the Premises to the condition
existing prior to the installation thereof. The Tenant shall at its own expense repair any damage
caused to the Premises and the Building by such removal. If the Tenant does not remove its

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trade fixtures at the expiration or earlier termination of the Term, the trade fixtures shall, at
the option of the Landlord, become the property of the Landlord and may be removed from the
Premises and sold or disposed of by the Landlord in such manner as it deems advisable without any
accounting to Tenant.

5.5 Liens. The Tenant shall promptly pay for all materials supplied and work done in
respect of the Premises for work contracted for by Tenant or its agents, employees or contractors
so as to ensure that no lien is recorded against any portion of the Building or against the
Landlord’s or Tenant’s interest therein. If a lien is so recorded, the Tenant shall discharge it
promptly by payment or bonding. If any such lien against the Building or Landlord’s interest
therein is recorded and not discharged by Tenant as above required within 15 days following
recording, the Landlord shall have the right to remove such lien by bonding or payment and the cost
thereof shall be paid immediately by Tenant to Landlord. Landlord and Tenant expressly agree and
acknowledge that no interest of Landlord in the Premises or the Building shall be subject to any
lien for improvements made by Tenant in or for the Premises, and the Landlord shall not be liable
for any lien for any improvements made by Tenant, such liability being expressly prohibited by the
terms of this Lease. In accordance with applicable laws of the State of Florida, Landlord has
filed in the public records of Miami-Dade County, Florida, a public notice containing a true and
correct copy of this paragraph, and Tenant hereby agrees to inform all contractors and materialmen
performing work in or for or supplying materials to the Premises of the existence of said notice.

5.6 Services; Utilities. Landlord shall, as part of Operating Costs, furnish the Premises
with the following services in the manner that such services are furnished in comparable office
buildings in the area: (a) electricity for lighting and the operation of office machines, (b)
heating, ventilation, and air conditioning (“HVAC”) to the extent reasonably required for the
comfortable occupancy by Tenant in its use of the Premises during the period from 8:00 a.m. to 6:00
p.m. on weekdays, and from 8:00 a.m. to 1:00 p.m. on Saturdays, except for holidays declared by the
federal government or such shorter periods as may be prescribed by any applicable policies or
regulations adopted by any utility or governmental agency, (c) elevator service, (d) rest room
supplies, (e) window washing with reasonable frequency, and (f) daily janitor service five (5) days
a week. HVAC service at times other than 8:00 a.m. to 6:00 p.m., Monday through Friday and 8:00
a.m. to 1:00 p.m. on Saturday shall be provided by Landlord, at Tenant’s expense, upon written
request by Tenant delivered to Landlord prior to 1:00 p.m. on the date for which service is needed,
or, if for a Saturday or Sunday, prior to 1:00 p.m. at least one (1) Business Day in advance of the
date for which such service is needed. With respect to any such after-hours HVAC service, the
initial cost for such additional service shall be Thirty and No/100 ($30.00) Dollars per hour, plus
tax, which rate may be adjusted by Landlord in its sole discretion. In addition, Landlord shall
provide security to the Building in the manner required similar to other comparable office
buildings in Coral Gables. The Tenant shall pay to the Landlord, or as the Landlord directs, all
gas, electricity, water, and other utility charges applicable to the Premises as separately metered
or, if not so metered, as part of Tenant’s Proportionate Share of Increased Operating Costs.

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ARTICLE VI

INSURANCE AND INDEMNITY

6.1 Tenant’s Insurance. Tenant will throughout the Term (and any other period when Tenant
is in possession of the Premises) carry and maintain, at its sole cost and expense, the following
types of insurance, which shall provide coverage on an occurrence basis, with respect to the
Premises, in the amounts specified with commercially reasonable deductible amounts and in the form
hereinafter provided for:

	(a)	 	Commercial General Liability Insurance. Commercial general liability insurance
covering claims arising from bodily injury and property damage with minimum limits of
$1,000,000.00 per occurrence and $1,000,000.00 general aggregate and insuring against legal
liability of the insured with respect to the Premises or arising out of the maintenance, use
or occupancy thereof. Said insurance shall include, but not be limited to, independent
contractor liability coverage, and the Broad Form Commercial General Liability Endorsement,
including contractual liability arising under this Lease, and premises medical payments.
	 
	(b)	 	Comprehensive Automobile Liability Insurance. Comprehensive automobile liability
insurance with a limit of not less than $1,000,000.00 per occurrence for bodily injury,
$500,000.00 per person and $100,000.00 property damage or a combined single limit of
$1,000,000 for owned vehicles.
	 
	(c)	 	Excess Liability Insurance. Umbrella liability insurance with a limit of not less
than $2,000,000.00 per occurrence.
	 
	(d)	 	Property Insurance. Extended or broad form coverage property insurance on a
replacement cost basis, with coverage equal to not less than 80% of the full replacement value
of all personal property, decorations, trade fixtures, furnishings, equipment, alterations,
leasehold improvements and betterments made by Tenant, all other contents located or placed in
the Premises and Tenant improvements to the extent they are in excess of the Tenant
Improvement Allowance. In the event any casualty occurs, Tenant agrees to pay the difference
between the insurance coverage required to be maintained by this subparagraph of this Section
6.1 and an insurance policy offering coverage of the full replacement value of the property
described in this subparagraph which Tenant actually replaces. Tenant’s policy will also
include business interruption/extra expense coverage in sufficient amounts.
	 
	(e)	 	Workers’ Compensation and Employers’ Liability Insurance. Workers’ Compensation
Insurance covering all employees of Tenant, as required by the laws of the State of Florida
and Employers’ Liability coverage subject to a limit of no less than $100,000 each employee,
$100,000 each accident, and $500,000 policy limit.

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	(f)	 	Other. Any other form of insurance which the Tenant or the Landlord, acting
reasonably, requires from time to time in form, in amounts, and for risks against which a
prudent tenant would insure and so long as such other insurance is required of a majority of
all Building tenants.

All policies referred to above shall: (i) be taken out with insurers licensed to do business in
Florida and having an A.M. Best A-Class 9 rating or otherwise reasonably approved by Landlord in
writing; (ii) be in a form reasonably satisfactory to the Landlord; (iii) be non-contributing with,
and shall apply only as primary and not as excess to any other insurance available to the Landlord
or any mortgagee of Landlord; (iv) contain an undertaking by the insurers to notify the Landlord by
certified mail not less than 30 days prior to any cancellation or termination, (v) with respect to
subsection (a), contain demolition cost, and increased cost of construction endorsements and
contain a waiver of subrogation rights which the Tenant’s insurers may have against the Landlord
and against those for whom the Landlord is in law responsible including, without limitation, its
directors, officers, agents, and employees, and (except with respect to the Tenant’s chattels)
incorporating a standard New York mortgagee endorsement (without contribution), and (vi) with
respect to Subsections (a) and (c) name Landlord, the property manager and any mortgagee of
Landlord as additional insureds. Certificates of insurance or, if required by a mortgagee, copies
of such insurance policies certified by an authorized officer of Tenant’s insurer as being complete
and current, shall be delivered to the Landlord prior to the Commencement Date, and following the
Commencement Date, promptly upon Landlord’s request. If a) the Tenant fails to take out or to keep
in force any insurance referred to in this Section 6.1, or should any such insurance not be
approved by either the Landlord or any mortgagee, and b) the Tenant does not commence and continue
to diligently cure such default within three (3) Business Days after written notice by the Landlord
to the Tenant specifying the nature of such default, then the Landlord has the right, without
assuming any obligation in connection therewith, to effect such insurance at the sole cost of the
Tenant and all outlays by the Landlord shall be paid by the Tenant to the Landlord without
prejudice to any other rights or remedies of the Landlord under this Lease. The Tenant shall not
keep or use in the Premises any article which may be prohibited by any fire or casualty insurance
policy in force from time to time covering the Premises or the Building.

6.2 Indemnification.

(a) Indemnification by Tenant. Tenant shall, and does hereby indemnify, defend and hold
harmless Landlord, its partners, principals, and agents from and against all claims, causes of
actions, liabilities, judgments, damages, losses (including, without limitation, loss of Base Rent
and Additional Rent payable in respect of the Premises), costs and expenses, including reasonable
attorneys’ fees and costs through all appeals, incurred or suffered by Landlord, its partners,
principals and agents, and arising from or in any way connected with (i) the Premises or the use or
occupancy thereof (unless caused solely by the gross negligence or willful misconduct of Landlord
or Landlord’s agents, employees or contractors) or (ii) any acts, omissions, neglect or fault of
Tenant or any of Tenant’s agents or employees, including, but not limited to, any breach of this
Lease or (iii) any of Tenant’s telecommunications work, provider work, or the installation, repair,
alteration, maintenance, replacement, use, operation, modification or removal

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of Tenant’s lines and equipment, including but not limited to, the costs of repair, the costs of
handling complaints from other tenants in the Building, any damages resulting from the interruption
in service to other tenants in the Building, and including any death, personal injury or property
damage occurring in or about the Premises or the Building or arising from hazardous substances
brought upon the Premises or the Building by Tenant or any of Tenant’s agents, contractors or
employees. Tenant will reimburse Landlord upon request for all reasonable costs incurred by
Landlord in the interpretation and enforcement of any provisions of this Lease and the collection
of any sums due to Landlord under this Lease, including collection agency fees, and reasonable
attorneys’ fees and costs, regardless of whether litigation is commenced, and through all appellate
actions and proceedings if litigation is commenced.

(b) Indemnification by Landlord. Landlord shall, and does hereby indemnify, defend
and hold harmless Tenant from and against all claims, causes of actions, liabilities, judgments,
damages, losses, costs and expenses, including reasonable attorneys’ fees and costs through all
appeals, incurred or suffered by Tenant, arising from or in any way connected with Landlord’s gross
negligence or willful misconduct.

6.3 Loss or Damage. The Landlord shall not be liable for any death or injury arising from
or out of any occurrence in, upon, at, or relating to the Building or damage to property of the
Tenant or of others located on the Premises or elsewhere in the Building, nor shall it be
responsible for any loss of or damage to any property of the Tenant or others from any cause,
UNLESS SUCH DEATH, INJURY, LOSS, OR DAMAGE RESULTS FROM THE GROSS NEGLIGENCE OR WILLFUL MISCONDUCT
OF THE LANDLORD. Without limiting the generality of the foregoing, the Landlord shall not be
liable for any injury or damage to Persons or property resulting from fire, explosion, falling
plaster, falling ceiling tile, falling fixtures, steam, gas, electricity, water, rain, flood, or
leaks from any part of the Premises or from the pipes, sprinklers, appliances, plumbing works,
roof, windows, or subsurface of any floor or ceiling of the Building or from the street or any
other place or by dampness, or by any other cause whatsoever, unless such injury or damage results
from the gross negligence or willful misconduct of the Landlord.

6.4 Landlord’s Insurance. The Landlord shall throughout the Term carry: (i) “all risks”
insurance on the Building and the machinery and equipment contained in or servicing the Building
and owned by the Landlord (excluding any property with respect to which the Tenant and other
tenants are obliged to insure pursuant to Section 6.1 or similar Sections of their respective
leases); (ii) public liability and property damage insurance with respect to the Landlord’s
operations in the Building; and (iii) such other forms of insurance as the Landlord or its
mortgagee reasonably considers advisable. Such insurance shall be in such reasonable amounts and
with such reasonable deductibles as would be carried by a prudent owner of a similar building,
having regard to size, age, and location.

6.5 Waiver of Subrogation. Notwithstanding anything to the contrary contained herein,
Landlord and Tenant each hereby waives on behalf of itself and its insurers (none of which shall
ever be assigned any such claim or be entitled thereto due to subrogation or otherwise) any and all
rights of recovery, claim, action, or cause of action, against the other, its agents, officers, or

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employees, for any loss or damage that may occur to the Premises, or any improvements thereto or
the Building of which the Premises are a part, or any improvements thereto, or any personal
property of such party therein, by reason of fire, the elements, or any other causes which are, or
could be (if reasonably available), insured against under the terms of the standard fire and
extended coverage insurance policies referred to in this Lease, regardless of whether such
insurance is actually maintained and regardless of the cause or origin of the damage involved,
including negligence of the other party hereto, its agents, officers, or employees.

ARTICLE VII

DAMAGE AND DESTRUCTION

7.1 Damage to Premises. If the Premises are partially destroyed due to fire or other
casualty, the Landlord shall diligently repair the Premises, to the extent of its obligations under
Section 5.1, and Base Rent shall abate proportionately to the portion of the Premises, if any,
rendered untenantable from the date of destruction or damage until the Landlord’s repairs have been
substantially completed. If the Premises are totally destroyed due to fire or other casualty, the
Landlord shall diligently repair the Premises to the extent only of its obligations pursuant to
Section 5.1, and Base Rent shall abate entirely from the date of destruction or damage to such date
which is the earlier of (i) the date tenantable, or (ii) 30 days after Landlord’s repairs have been
substantially completed. Upon being notified by the Landlord that the Landlord’s repairs have been
substantially completed, the Tenant shall diligently perform all other work required to fully
restore the Premises for use in the Tenant’s business, in every case at the Tenant’s cost and
without any contribution to such cost by the Landlord, whether or not the Landlord has at any time
made any contribution to the cost of supply, installation, or construction of leasehold
improvements in the Premises. Tenant agrees that during any period of reconstruction or repair of
the Premises, it will continue the operation of its business within the Premises to the extent
practicable. If all or any part of the Premises shall be damaged by fire or other casualty and the
fire or other casualty is caused by the fault of neglect of Tenant or Tenant’s agents, guests, or
invitees, rent and all other charges shall not abate.

7.2 Termination for Damage. Notwithstanding Section 7.1, if damage or destruction which
has occurred to the Premises or the Building is such that in the reasonable opinion of the Landlord
such reconstruction or repair cannot be completed within 270 days of the happening of the damage or
destruction, the Landlord may, at its option, terminate this Lease on notice to the Tenant given
within thirty (30) days after such damage or destruction and the Tenant shall immediately deliver
vacant possession of the Premises in accordance with the terms of this Lease.

ARTICLE VIII

ASSIGNMENT, SUBLEASES, AND TRANSFERS

8.1 Transfer by Tenant. The Tenant shall not enter into, consent to, or permit any
Transfer, as hereinafter defined, without the prior written consent of the Landlord in each
instance, which consent shall not be unreasonably withheld, conditioned or delayed. For purposes of
this Lease, “Transfer” means an assignment of this Lease in whole or in part; a sublease of all or
any part of

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the Premises; any transaction whereby the rights of the Tenant under this Lease or to the Premises
are transferred to another; any mortgage or encumbrance of this Lease or the Premises or any part
thereof or other arrangement under which either this Lease or the Premises become security for any
indebtedness or other obligations; and if Tenant is a corporation, limited liability company or a
partnership, the transfer of a controlling interest in the stock of the corporation or membership
or partnership interests, as applicable. If there is a permitted Transfer, the Landlord may
collect rent or other payments from the transferee and apply the net amount collected to the rent
or other payments required to be paid pursuant to this Lease but no acceptance by the Landlord of
any payments by a transferee shall be deemed a waiver of any provisions hereof regarding Tenant.
Notwithstanding any Transfer, the Tenant shall not be released from any of its obligations under
this Lease. The Landlord’s consent to any Transfer shall be subject to the further condition that
if the Base Rent and Additional Rent pursuant to such Transfer exceeds the Base Rent and Additional
Rent payable under this Lease, the amount of such excess shall be paid to the Landlord. If,
pursuant to a permitted Transfer, the Tenant receives from the transferee, either directly or
indirectly, any consideration other than Base Rent and Additional Rent for such Transfer, either in
the form of cash, goods, or services, the Tenant shall, upon receipt thereof, pay to the Landlord
an amount equivalent to such consideration.

Notwithstanding anything to the contrary contained in this Section 8.1, if Tenant desires to assign
this Lease or to enter into a sublease of all or any portion of the Premises, Landlord shall have
the option to terminate this Lease (in the case of a proposed assignment by Tenant) or to exclude
from the Premises covered by this Lease the space proposed to be sublet by Tenant, effective as of
the proposed Commencement Date of the proposed assignment or sublease by Tenant. Landlord may
exercise said option by giving Tenant written notice within twenty (20) days after receipt by
Landlord of Tenant’s notice of the proposed assignment or sublease. If Landlord exercises said
option, Tenant shall surrender possession of the Premises or the proposed sublease space to
Landlord on the effective date of the termination of this Lease or the exclusion of said space from
the Premises covered by this Lease, as applicable, and, except as otherwise provided herein,
neither party hereto shall have any further rights or liabilities with respect to the Premises or
said sublease space arising under this Lease, as applicable. Effective as of the date of exclusion
of any portion of the Premises covered by this Lease pursuant to this Paragraph, unless the
sublease specifies the exact per square foot rate for the Base Rent applicable to the excluded
space (in which event the Base Rent for this Lease shall be reduced by such rate multiplied by the
applicable excluded square footage), (i) the Base Rent shall be reduced in the same proportion as
the number of square feet of net rentable area contained in the portion of the Premises so excluded
bears to the number of square feet of Gross Rentable Area contained in the Premises immediately
prior to such exclusion, (ii) the Gross Rentable Area of the Premises shall be decreased by the
number of square feet of rentable area contained in the portion of the Premises so excluded, for
all purposes under this Lease, and (iii) the number of parking spaces to which Tenant is entitled
shall be reduced in the same proportion as the Base Rent is reduced.

Notwithstanding anything to the contrary contained in this Lease, Tenant may assign this Lease or
sublet all or any portion of the Premises from time to time, without Landlord’s consent but only
after five Business Days’ prior written notice (unless prior notice is prohibited by law), to

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any entity controlling, controlled by or under common control with Tenant, or to any successor of
Tenant resulting from a merger or consolidation of Tenant, or as a result of a sale by Tenant of
all or substantially all of its assets or stock, provided that no such transfer shall relieve
Tenant from any liability under this Lease, whether accrued to the date of such transfer or
thereafter accruing. In addition, any change in the controlling interest in the stock of Tenant as
a result of an initial public offering of Tenant’s stock, and any transfer of the capital stock of
Tenant by persons or parties through the “over-the-counter market” or through any recognized stock
exchange or through a tender offer, shall not be deemed to be a Transfer requiring Landlord’s
consent. Landlord shall not be entitled to receive any portion of the excess rent as described
above arising out of an assignment or sublease not requiring Landlord’s consent.

8.2 Assignment by Landlord. The Landlord shall have the unrestricted right to sell, lease,
convey, or otherwise dispose of the Building or any part thereof and this Lease or any interest of
the Landlord in this Lease. To the extent that the purchaser or assignee from the Landlord assumes
the obligations of the Landlord under this Lease, the Landlord shall thereupon and without further
agreement be released of all further liability under this Lease. If the Landlord sells its
interest in the Premises, it shall deliver any security deposit made pursuant to this Lease to the
purchaser and the Landlord will thereupon be released from any further liability with respect to
any such security deposit or its return to the Tenant and the purchaser shall become directly
responsible to Tenant.

ARTICLE IX

DEFAULT

9.1 Defaults. A default by Tenant shall be deemed to have occurred hereunder, if and
whenever: (i) any Base Rent or Tenant’s Proportionate Share of Increased Operating Costs or any
amounts due under the parking agreement referred to in Article XIII hereof is not paid within five
days after becoming due whether or not any notice or demand for payment has been made by the
Landlord or the operator of the parking facility; (ii) any other Additional Rent is in arrears and
is not paid within 10 days after written demand by the Landlord; (iii) the Tenant has breached any
of its obligations in this Lease or in the parking agreement referred to in Article XIII hereof
(other than the payment of Rent or parking charges) and the Tenant fails to remedy such breach
within 30 days (or such shorter period as may be provided in this Lease or such parking agreement),
or if such breach cannot reasonably be remedied within 30 days (or such shorter period), then if
the Tenant fails promptly to commence to remedy and thereafter proceed diligently to remedy such
breach within 90 days, in each case after notice in writing from the Landlord or the operator of
the parking facility, as applicable; (iv) the Tenant becomes bankrupt or insolvent; or (v) any of
the Landlord’s policies of insurance with respect to the Building are canceled or adversely changed
as a result of Tenant’s use or occupancy of the Premises.

9.2 Remedies. In the event of any default hereunder by Tenant, then without prejudice to
any other rights which it has pursuant to this Lease or at law or in equity, the Landlord shall
have the following rights and remedies, which are cumulative and not alternative:

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	(a)	 	Landlord may cancel this Lease by notice to the Tenant and retake possession of the Premises
for Landlord’s account. Tenant shall then quit and surrender the Premises to Landlord.
Tenant’s liability under all of the provisions of this Lease shall continue notwithstanding
any expiration and surrender, or any re-entry, repossession, or disposition hereunder.
	 
	(b)	 	To the extent permitted by applicable laws, Landlord may enter the Premises as agent of the
Tenant to take possession of any property of the Tenant on the Premises, to store such
property at the expense and risk of the Tenant or to sell or otherwise dispose of such
property in such manner as the Landlord may see fit without notice to the Tenant. To the
extent permitted by applicable laws, re-entry and removal may be effectuated by summary
dispossess proceedings, by any suitable action or proceeding, or otherwise. Landlord shall not
be liable in any way in connection with its actions pursuant to this Section, to the extent
that its actions are in accordance with law.
	 
	(c)	 	If this Lease is canceled under subsection (a) above, Tenant shall remain liable (in addition
to accrued liabilities) to the extent legally permissible for all rent and all of the charges
Tenant would have been required to pay until the date this Lease would have expired had such
cancellation not occurred. Tenant’s liability for rent shall continue notwithstanding re-entry
or repossession of the Premises by Landlord. In addition to the foregoing, Tenant shall pay to
Landlord such sums as the court which has jurisdiction thereover may adjudge as reasonable
attorneys’ fees with respect to any successful lawsuit or action instituted by Landlord to
enforce the provisions of this Lease.
	 
	(d)	 	Landlord may relet all or any part of the Premises for all or any part of the unexpired
portion of the Term of this Lease or for any longer period, and may accept any rent then
attainable; grant any concessions of Rent, and agree to paint or make any special repairs,
alterations, and decorations for any new Tenant as it may deem advisable in its sole and
absolute discretion. Landlord shall be under no obligation to relet or to attempt to relet
the Premises, but if Landlord elects to do so, Landlord shall use commercially reasonable
efforts to relet the Premises.
	 
	(e)	 	Landlord may without terminating or canceling this Lease declare all amounts and rents due
under this Lease for the remainder of the existing Lease term (or any applicable extension or
renewal thereof) to be immediately due and payable, and thereupon all rents and other charges
due hereunder to the end of the initial term or any renewal term, if applicable, shall be
accelerated. In such event Additional Rental due until the end of the initial term or any
extension or renewal term shall be calculated by adding the amount of five percent (5%) per
year to the amount of Additional Rental last payable by Tenant under this Lease. An annual
discount rate of five percent (5%) shall be used in calculating the present value of sums due
to Landlord in the event of such acceleration.
	 
	(f)	 	Landlord may remedy or attempt to remedy any default of the Tenant under this Lease for the
account of the Tenant and to enter upon the Premises for such purposes. No notice of the
Landlord’s intention to perform such covenants need be given the Tenant

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unless expressly required by this Lease. The Landlord shall not be liable to the Tenant for
any loss or damage caused by acts of the Landlord in remedying or attempting to remedy such
default and the Tenant shall pay to the Landlord all expenses incurred by the Landlord in
connection with remedying or attempting to remedy such default. Any expenses incurred by
Landlord shall accrue interest from the date of payment by Landlord until repaid by Tenant
at the highest rate permitted by law.

9.3 Costs. The Tenant shall pay to the Landlord on demand all costs incurred by the
Landlord, including attorneys’ fees and costs at all tribunal levels, incurred by the Landlord in
enforcing any of the obligations of the Tenant under this Lease. In addition, upon any default by
Tenant, Tenant shall be also liable to Landlord for the expenses to which Landlord may be put in
re-entering the Premises; repossessing the Premises; painting, altering, or dividing the Premises;
combining the Premises with an adjacent space for any new tenant; putting the Premises in proper
repair; protecting and preserving the Premises by placing watchmen and caretakers therein;
reletting the Premises (including attorneys’ fees and disbursements, marshall’s fees, and brokerage
fees, in so doing); and any other expenses reasonably incurred by Landlord.

9.4 Additional Remedies; Waiver. The rights and remedies of Landlord set forth herein
shall be in addition to any other right and remedy now and hereinafter provided by law. All rights
and remedies shall be cumulative and non-exclusive of each other. No delay or omission by Landlord
in exercising a right or remedy shall exhaust or impair the same or constitute a waiver of, or
acquiescence to, a default.

9.5 Default by Landlord. In the event of any default by Landlord, Tenant’s exclusive
remedy shall be an action for damages, but prior to any such action Tenant will give Landlord
written notice specifying such default with particularity, and Landlord shall have a period of 30
days following the date of such notice in which to commence the appropriate cure of such default.
Unless and until Landlord fails to commence and diligently pursue the appropriate cure of such
default after such notice or complete same within a reasonable period of time, Tenant shall not
have any remedy or cause of action by reason thereof. Notwithstanding any provision of this Lease,
Landlord shall not at any time have any personal liability under this Lease. In the event of any
breach or default by Landlord of any term or provision of this Lease, Tenant agrees to look solely
to the equity or interest then-owned by Landlord in the Building, and in no event shall any
deficiency judgment be sought or obtained against Landlord.

9.6 Prevailing Party. Notwithstanding anything to the contrary contained in this Lease, in
the event of any litigation between Landlord and Tenant arising out of this Lease or Tenant’s use
and occupancy of the Premises, the prevailing party shall be entitled to recover its costs and
expenses incurred in such litigation, including reasonable attorneys’ fees, at all levels,
including appeals.

9.7 Personal Liability. The liability of Landlord for any default by Landlord under this
Lease shall be limited to the interest of Landlord in the Building and Tenant agrees to look solely
to Landlord’s interests in the Building for the recovery of any judgment from the Landlord, it
being intended that Landlord shall not be personally liable for any judgment of deficiency.

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9.8 WAIVER BY TENANT. Tenant expressly waives all of the following: (i) The requirement
under Chapter 83.12 of the Florida Statutes that the plaintiff in his distress for rent action file
a bond payable to the Tenant in at least double the sum demanded by the plaintiff, it being
understood that no bond shall be required in any such action; (ii) The right of Tenant under
Chapter 83.14 of the Florida Statutes to replevy distrained property; (iii) In the event of suit by
or against Landlord, then the venue of such suit shall be in Miami-Dade County, Florida, and the
Tenant hereby waives for itself whatever rights it may have in the selection of venue; (iv) Trial
by jury in connection with the proceedings or claims brought by either of the parties against the
other; (v) the right of counterclaim in any action brought by Landlord against Tenant for damages
or for possession of the Premises due to nonpayment of Base Rent or other sums required of Tenant
under this Lease; and (vi) The notice requirement set forth in section 83.20 of the Florida
Statutes.

ARTICLE X

ESTOPPEL CERTIFICATE; SUBORDINATION

10.1 Estoppel Certificate. Within 10 days after written request by the Landlord, the
Tenant shall deliver in a form supplied by the Landlord, an estoppel certificate to the Landlord as
to the status of this Lease, including whether this Lease is unmodified and in full force and
effect (or, if there have been modifications, that this Lease is in full force and effect as
modified and identifying the modification agreements); the amount of Base Rent and Additional Rent
then being paid and the dates to which same have been paid; whether or not there is any existing or
alleged default by either party with respect to which a notice of default has been served, or any
facts exist which, with the passing of time or giving of notice, would constitute a default and, if
there is any such default or facts, specifying the nature and extent thereof; and any other matters
pertaining to this Lease as to which the Landlord shall request such certificate. The Landlord,
and any prospective purchaser, lender, or ground lessor shall have the right to rely on such
certificate.

10.2 Subordination; Attornment. This Lease and all rights of the Tenant shall be subject
and subordinate to any and all mortgages, security agreements, or like instruments resulting from
any financing, refinancing, or collateral financing (including renewals or extensions thereof),
and to any and all ground leases, made or arranged by Landlord of its interests in all or any part
of the Building), from time to time in existence against the Building, whether now existing or
hereafter created. Such subordination shall not require any further instrument to evidence such
subordination. However, on request, the Tenant shall further evidence its agreement to subordinate
this Lease and its rights under this Lease to any and all documents and to all advances made under
such documents. The form of such subordination shall be made as required by the Landlord, its
lender, or ground lessor. In the event of the enforcement by a lender of the remedies provided for
by law or by any mortgage now or hereafter encumbering the Building or any portion thereof, Tenant
will, upon request of any person succeeding to the interest of Landlord as a result of such
enforcement, automatically become the lessee of said successor in interest, without change in the
terms or other provisions of this Lease; provided,

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however, that said successor in interest shall not be (i) bound by any payment of Rent or
Additional Rent for more than one (1) month in advance, except for the Security Deposit and any
other prepayments in the nature of security for the performance by Tenant of its obligations under
the Lease and provided said successor in interest actually receives such funds; (ii) liable for any
act, omission or default of any prior Landlord; (iii) subject to any offsets, claims or defenses
that Tenant may have against any prior Landlord; or (iv) bound by any amendment or modification of
the Lease made without the consent of lender or such successor in interest. Within seven (7) days
of a request by said successor in interest, Tenant shall execute and deliver an instrument or
instruments confirming such attornment.

ARTICLE XI

CONTROL OF BUILDING BY LANDLORD

11.1 Use and Maintenance of Common Areas. The Tenant and those doing business with Tenant
for purposes associated with the Tenant’s business on the Premises, shall have a non-exclusive
license to use the Common Areas for their intended purposes during normal business hours in common
with others entitled thereto and subject to any reasonable rules and regulations imposed by the
Landlord. The Landlord shall keep the Common Areas in good repair and condition and shall clean
the Common Areas when necessary. Landlord shall not be liable for any damage to automobiles of any
nature whatsoever to, or any theft of, automobiles or other vehicles or the contents thereof, while
in or about the parking facility. The Tenant acknowledges that its non-exclusive right to use any
parking facilities forming part of the Building may be subject to such rules and regulations as
reasonably imposed by the operator of the parking facility from time to time. The Tenant
acknowledges that all Common Areas shall at all times be under the exclusive control and management
of the Landlord. For purposes of this Lease, “Common Areas” shall mean those areas, facilities,
utilities, improvements, equipment, and installations of the Building which serve or are for the
benefit of the tenants of more than one component of the Building and which are not designated or
intended by the Landlord to be leased, from time to time, or which are provided or designated from
time to time by the Landlord for the benefit or use of all tenants in the Building, their
employees, customers, and invitees, in common with others entitled to the use or benefit of same,
provided that the parking facility within the Building shall not be considered part of the Common
Areas.

11.2 Alterations by Landlord. The Landlord may (i) alter, add to, subtract from, construct
improvements on, re-arrange, and construct additional facilities in, adjoining, or proximate to the
Building; (ii) relocate the facilities and improvements in or comprising the Building or erected on
the land; (iii) do such things on or in the Building as required to comply with any laws, by-laws,
regulations, orders, or directives affecting the land or any part of the Building; and (iv) do such
other things on or in the Building as the Landlord, in the use of good business judgment determines
to be advisable, provided that notwithstanding anything contained in this Section 11.2, access to
the Premises shall be available at all times, except in the case of emergencies. The Landlord
shall not be in breach of its covenants for quiet enjoyment or liable for any loss, costs, or
damages, whether direct or indirect, incurred by the Tenant due to any of the foregoing.

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11.3 Access. Access to the Premises shall be available to Tenant 24 hours per day, 7 days
per week, 365 days per year, subject to reasonable security measures and except for emergency
events which cause the Landlord to limit access to tenants.

11.4 Tenant Relocation. Landlord shall have the right, at any time upon sixty (60) days
written notice to Tenant, to relocate Tenant into other space within the Building comparable to the
Premises (including a comparable view and location). Upon such relocation, such new space shall be
deemed the Premises and the prior space originally demised shall in all respects be released from
the effect of this Lease. If the Landlord elects to relocate Tenant as above described, (i) the
new space shall contain approximately the same as, or greater usable area than the original space,
(ii) the Landlord shall improve the new space, at Landlord’s sole cost, to at least the standards
of the original space, (iii) the Landlord shall pay the reasonable costs of moving Tenant’s trade
fixtures and furnishings, computers and telecommunications wiring from the original space to the
new space, (iv) as total compensation for all other costs, expenses, and damages which Tenant may
suffer in connection with the relocation, including but not limited to, lost profit or business
interruption, no Base Rent or Operating Costs shall be due or payable for the first two (2)
calendar months of Tenant’s occupancy of the new space, and Landlord shall not be liable for any
further indirect or special expenses of Tenant resulting from the relocation, (v) Base Rent,
Tenant’s proportionate share of Increased Operating Costs, and all other charges hereunder shall be
the same for the new space as for the original space, notwithstanding that the new space may be
larger than the original space, and (vi) all other terms of this Lease shall apply to the new space
as the Premises, except as otherwise provided in this paragraph.

ARTICLE XII

CONDEMNATION

12.1 Total or Partial Taking. If the whole of the Premises, or such portion thereof as
will make the Premises unusable for the purposes leased hereunder, shall be taken by any public
authority under the power of eminent domain or sold to public authority under threat or in lieu of
such taking, the Term shall cease as of the day possession or title shall be taken by such public
authority, whichever is earlier (“Taking Date”), whereupon the rent and all other charges shall be
paid up to the Taking Date with a proportionate refund by Landlord of any rent and all other
charges paid for a period subsequent to the Taking Date. If less than the whole of the Premises,
or less than such portion thereof as will make the Premises unusable for the purposes leased
hereunder, the Term shall cease only as to the part so taken as of the Taking Date, and Tenant
shall pay rent and other charges up to the Taking Date, with appropriate credit by Landlord (toward
the next installment of rent due from Tenant) of any rent or charges paid for a period subsequent
to the Taking Date. Base Rent and other charges payable to Landlord shall be reduced in proportion
to the amount of the Premises taken.

12.2 Taking for Temporary Use. If there is a taking of the Premises for temporary use,
this Lease shall continue in full force and effect, and Tenant shall continue to comply with
Tenant’s obligations under this Lease, except to the extent compliance shall be rendered impossible
or impracticable by reason of the taking. Base Rent and other charges payable to Landlord shall be
reduced in proportion to the amount of the Premises taken for the period of such temporary use.

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12.3 Award. All compensation awarded or paid upon a total or partial taking of the
Premises or Building including the value of the leasehold estate created hereby shall belong to and
be the property of Landlord without any participation by Tenant; Tenant shall have no claim to any
such award based on Tenant’s leasehold interest. However, nothing contained herein shall be
construed to preclude Tenant, at its cost, from independently prosecuting any claim directly
against the condemning authority in such condemnation proceeding for damage to, or cost of removal
of, stock, trade fixtures, furniture, and other personal property belonging to Tenant; provided,
however, that no such claim shall diminish or otherwise adversely affect Landlord’s award or the
award of any mortgagee.

ARTICLE XIII

PARKING

As long as this Lease is in full force and effect, Landlord will cause the operator of the Parking
Garage to agree to provide Tenant during the Term with the number of parking spaces in the parking
facility within the Building set forth in the Lease Summary, subject to Tenant’s paying all charges
therefor and otherwise complying with the terms and conditions set forth in a separate parking
agreement between such operator and Tenant, a copy of which is attached hereto as Exhibit C.

ARTICLE XIV

GENERAL PROVISIONS

14.1 Delay. Except as expressly provided in this Lease, whenever the Landlord or Tenant is
delayed in the fulfillment of any obligation under this Lease, other than the payment of rent or
other charges, by an unavoidable occurrence which is not the fault of the party delayed in
performing such obligation, then the time for fulfillment of such obligation shall be extended
during the period in which such circumstances operate to delay the fulfillment of such obligation.

14.2 Holding Over. If the Tenant remains in possession of the Premises after the end of
the Term without having executed and delivered a new lease or an agreement extending the Term,
there shall be no tacit renewal of this Lease or the Term, the Tenant shall be deemed to be in
default and to be occupying the Premises as a Tenant from month to month at a monthly Base Rent
payable in advance on the first day of each month equal to 150% of the monthly amount of Base Rent
payable during the last month of the Term, and otherwise upon the same terms as are set forth in
this Lease, so far as they are applicable to a monthly tenancy.

14.3 Waiver; Partial Invalidity. If either the Landlord or Tenant excuses or condones any
default by the other of any obligation under this Lease, this shall not be a waiver of such
obligation in respect of any continuing or subsequent default and no such waiver shall be implied.
All of the provisions of this Lease are to be construed as covenants even though not expressed as
such. If any such provision is held or rendered illegal or unenforceable it shall be considered
separate and severable from this Lease and the remaining provisions of this Lease

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shall remain in force and bind the parties as though the illegal or unenforceable provision had
never been included in this Lease.

14.4 Recording. Neither the Tenant nor anyone claiming under the Tenant shall record this
Lease or any memorandum hereof in any public records without the prior written consent of the
Landlord and Tenant.

14.5 Notices. Any notice, consent, or other instrument required or permitted to be given
under this Lease shall be in writing and shall be delivered in person, or sent by certified mail,
return receipt requested, or overnight express mail courier, postage prepaid, addressed (i) if to
Landlord, at the address set forth on the Lease Summary; and (ii) if to the Tenant, at the Premises
or, prior to Tenant’s occupancy of the Premises, at the address set forth on the Lease Summary.
Any such notice or other instruments shall be deemed to have been given and received on the day
upon which personal delivery or delivery by overnight express mail courier is made or, if mailed,
then 48 hours following the date of mailing. Either party may give notice to the other of any
change of address and after the giving of such notice, the address therein specified is deemed to
be the address of such party for the giving of notices. If postal service is interrupted or
substantially delayed, all notices or other instruments shall be delivered in person or by
overnight express mail courier.

14.6 Successors; Joint and Several Liability. The rights and liabilities created by this
Lease extend to and bind the successors and assigns of the Landlord and the heirs, executors,
administrators, and permitted successors and assigns of the Tenant. No rights, however, shall
inure to the benefit of any transferee unless such Transfer complies with the provisions of Article
VIII. If there is at any time more than one Tenant or more than one person constituting the
Tenant, their covenants shall be considered to be joint and several and shall apply to each and
every one of them.

14.7 Captions and Section Numbers. The captions, Section numbers, article numbers, and
table of contents appearing in this Lease are inserted only as a matter of convenience and in no
way affect the substance of this Lease.

14.8 Extended Meanings. The words “hereof,” “hereto,” “hereunder,” and similar expressions
used in this Lease relate to the whole of this Lease and not only to the provisions in which such
expressions appear. This Lease shall be read with all changes in number and gender as may be
appropriate or required by the context. Any reference to the Tenant includes, when the context
allows, the employees, agents, invitees, and licensees of the Tenant and all others over whom the
Tenant might reasonably be expected to exercise control. This Lease has been fully reviewed and
negotiated by each party and their counsel and shall not be more strictly construed against either
party.

14.9 Entire Agreement; Governing Law; Time. This Lease and the Exhibits and Riders, if
any, attached hereto are incorporated herein and set forth the entire agreement between the
Landlord and Tenant concerning the Premises and there are no other agreements or understandings
between them. This Lease and its Exhibits and Riders may not be modified

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except by agreement in writing executed by the Landlord and Tenant. This Lease shall be construed
in accordance with and governed by the laws of the State of Florida. Time is of the essence of
this Lease.

14.10 No Partnership. Nothing in this Lease creates any relationship between the parties
other than that of lessor and lessee and nothing in this Lease constitutes the Landlord a partner
of the Tenant or a joint venturer or member of a common enterprise with the Tenant.

14.11 Quiet Enjoyment. If the Tenant pays rent and other charges and fully observes and
performs all of its obligations under this Lease, the Tenant shall be entitled to peaceful and
quiet enjoyment of the Premises for the Term without interruption or interference by the Landlord
or any person claiming through the Landlord.

14.12 Brokerage. Landlord and Tenant each represent and warrant one to the other that
except as set forth in the Lease Summary, neither of them has employed any broker in connection
with the negotiations of the terms of this Lease or the execution thereof. Landlord and Tenant
hereby agree to indemnify and to hold each other harmless against any loss, expense, or liability
with respect to any claims for commissions or brokerage fees arising from or out of any breach of
the foregoing representation and warranty. Landlord recognizes the broker(s) specified in the
Lease Summary as the sole broker(s) with whom Landlord has dealt in this transaction and agrees to
pay any commissions determined to be due said broker(s). Tenant acknowledges that Flagler Real
Estate Services ONCOR International represents solely the Landlord with respect to this Lease.

14.13 Trial By Jury. LANDLORD AND TENANT EACH HEREBY WAIVES ITS RIGHT TO A JURY TRIAL OF
ANY ISSUE OR CONTROVERSY ARISING UNDER THIS LEASE.

14.14 Radon. Chapter 88-285, Laws of Florida, requires the following notice to be provided
with respect to the contract for sale and purchase of any building, or a rental agreement for any
building:

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

14.15 Telecommunications.

	(a)	 	Tenant shall, at Tenant’s sole cost and expense, be solely responsible for securing such
telephone and other electronic telecommunications service to the Premises as Tenant may
require for its use and occupancy thereof, and Landlord shall have no obligations or liability
whatsoever to Tenant with respect to the provision of such services to the Premises. Subject
to, and without limiting the foregoing, the Tenant is hereby advised

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	 	 	that XO Florida, Inc. is the preferred provider (the “Provider”) in the Building of those
telecommunications services which are provided over fiber optic cables.
	 
	(b)	 	None of Landlord’s approval of, or requirements concerning, any telecommunications work,
lines, equipment, plans, specifications or drawings or any equipment related thereto, Tenant’s
telecommunications provider or Tenant’s and/or Tenant’s telecommunications provider’s
contractors, subcontractors, or Landlord’s designation of XO Florida, Inc. as the Provider,
shall be deemed a warranty as to the adequacy, suitability, competence or financial strength
thereof, and Landlord hereby disclaims any responsibility or liability for the same. Further,
Landlord makes no representation to Tenant regarding the condition, security, availability,
competence, financial strength or suitability for Tenant’s purposes of any telecommunications
services presently located within the Building, and Tenant hereby acknowledges that Landlord
shall have no obligation or liability and hereby waives any claim against Landlord for any
damages or problems in the event that Tenant’s telecommunications services, lines or equipment
are in any way inadequate, do not satisfy Tenant’s requirements, are interrupted, curtailed,
discontinued, disconnected, terminated, damaged or otherwise interfered with, or fail, except
to the extent caused by the negligence or willful misconduct of Landlord, its employees or
agents (other than XO Florida, Inc). Tenant’s use of a provider other than the Provider shall
be subject to Landlord’s approval, which shall not be unreasonably withheld, conditioned or
delayed.
	 
	(c)	 	Any telegraphic, telephone or data lines installed in the Premises and/or the Building by or
on behalf of Tenant shall be appropriately tagged with Tenant’s name and the name of the
provider, and all of such wiring shall be removed by Tenant, at Tenant’s expense, upon the
expiration or termination of this Lease.

14.16 Business Days. For all purposes of this Lease, a “Business Day” means any day other
than a Saturday, Sunday or legal holiday in Miami-Dade County, Florida.

14.17 Authority. Tenant and Landlord and the individuals and/or entities executing this
Lease on behalf of them represent to the other party to this Lease that such party is authorized to
do so and that this Lease has been duly authorized and executed by such party.

(Signature page follows)

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EXECUTED as of the day and year first above written.

WITNESSES:

LANDLORD:

355 Alhambra Plaza, Ltd., a Florida limited partnership

By: Alhambra GP LLC, a Delaware limited liability company

			
	     By:	 	JPMorgan Chase Bank, as Trustee under Amended and Restated
Declaration of Trust dated as of November 13, 2001, as Amended
for its Commingled Pension Trust Fund (Special Situation
Property), its sole member

 

	 	 	 
	/s/ Laura Dore

	 	By: /s/ Joseph B. Dobronyi, Jr.
	 

	 	 
	Print Name: Laura Dore

	 	Name: Joseph B. Dobronyi, Jr.
	 

	 	Title: Vice President

	 	 	 
	/s/ Adi Magan

	 	 
	 
Print Name: Adi Magan
	 	 

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	 	TENANT:
	 
	 	 
	 

	 	Catalyst Pharmaceutical Partners, Inc.
	 
	 	 
	/s/ Jack Weinstein
	 	 
	 
Jack Weinstein
	 	 

	 	 	 
	/s/ Elisa Diaz

	 	By: /s/ Patrick J. McEnany
	 

	 	 
	Elisa Diaz

	 	Name: Patrick J. McEnany
	 

	 	Title: Chairman and CEO

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