Document:

LEASE DATED DECEMBER 12, 2003 BETWEEN GLYCOGENESYS, INC. AND ONE KENDALL SQ.

 Exhibit 10.1 
  
 EXHIBIT 1, SHEET 1 
 Building 600, One Kendall Square 
 Cambridge, Massachusetts 
 (the “Building”) 
  

															
	 Execution Date:
	 	 	 	 December 12, 2003

			
	 Tenant:
	 	 	 	 GlycoGenesys, Inc.

	 	 	 	 	                                 (name)

			
	 	 	 	 	 a Nevada corporation

	 	 	 	 	                                 (description of business
organization)

			
	 	 	 	 	 31 St. James Avenue, Suite 810, Boston, Massachusetts 02116

	 	 	 	 	                                 (principal place of business - mailing
address)

			
	 Landlord:
	 	 	 	One Kendall Square Associates, LLC, a Delaware limited liability company. Mailing address: c/o Lincoln Property Company, 101 Arch Street, Boston, Massachusetts
02110
			
	 Building:
	 	 	 	Building 600 in One Kendall Square in the City of Cambridge, Middlesex County, Commonwealth of Massachusetts.
			
	 Art. 2
	 	 Premises:
	 	An area on the second (2nd) floor of the Building, substantially as shown on Lease Plan, Exhibit 2
		
	 Art. 3.1
	 	 Specified Commencement Date: January 1, 2004

		
	 Art. 3.2
	 	 Termination Date: Three (3) years after the Term Commencement Date

		
	 Art. 5
	 	 Use of Premises: Laboratory use and ancillary uses thereto, subject to Article 29 of the Lease

							
	 Art. 6
	 	 Yearly Rent:
	 	 	  	 	  	 	  	 	  	 

  

						
	Lease Year1

	  	Yearly Rent

	  	Monthly Payment

	1	  	$	93,690.00	  	$7,807.50
	2	  	$	99,936.00	  	$8,328.00
	3	  	$	106,182.00	  	$8,848.50

  

															
		
	 	    	 Rent Commencement Date: Thirty (30) days after the Term Commencement Date

		
	 Art. 7
	    	 Total Rentable Area: 3,123 square feet

			
	 	    	 Total Rentable Area of Building No. 600:     225,438 square feet
	  	 
	 	    	 Total Rentable Area of
Complex:                   650,681 square feet
	  	 

	1	For the purposes of this Lease, “Lease Year” shall be defined as any twelve (12) month period during the term of the Lease commencing as of the Term
Commencement Date, or as of any anniversary of the Term Commencement Date. 

					
		
	 Art. 8.
	  	 Electric current will not be furnished by Landlord to Tenant.

		
	 Art. 9
	  	 Operating and Taxes:

			
	 	  	 	  	 Tenant’s Proportionate Share:

	 	  	 	  	 Common Area Share: .48%

	 	  	 	  	 Building Share: 1.29%

			
	 Art. 29.3
	  	 	  	 Broker:     Richards Barry Joyce & Partners, LLC

			
	 Art. 29.5
	  	 	  	 Arbitration: Massachusetts; Superior Court

			
	 Article 29.12
	  	 	  	 Security Deposit:         $40,000.00

			
	 Article 29.15
	  	 	  	 Parking: Three (3) parking passes, to be paid for in accordance with Article 29.15

			
	 	  	 	  	 Exhibit Dates:         Lease Plan, Exhibit 2, dated November 10, 2003

  

 -ii- 

							
	 1.
	 	 REFERENCE DATA
	  	1
			
	 2.
	 	 DESCRIPTION OF DEMISED PREMISES
	  	1
	 	 	 2.1
	 	 Demised Premises
	  	1
	 	 	 2.2
	 	 Appurtenant Rights
	  	1
	 	 	 2.3
	 	 Exclusions and Reservations
	  	1
			
	 3.
	 	 TERM OF LEASE
	  	1
	 	 	 3.1
	 	 Definitions
	  	1
	 	 	 3.2
	 	 Habendum
	  	2
	 	 	 3.3
	 	 Declaration Fixing Term Commencement Date
	  	2
			
	 4.
	 	 READINESS FOR OCCUPANCY - ENTRY BY TENANT PRIOR TO
 TERM COMMENCEMENT DATE
	  	2
	 	 	 4.1
	 	 Completion Date - Delays
	  	2
	 	 	 4.1A
	 	 Tenant's Termination Right
	  	2
	 	 	 4.2
	 	 When Premises Deemed Ready
	  	2
	 	 	 4.2A
	 	 Landlord's Work
	  	3
	 	 	 4.3
	 	 Tenant's Response to Landlord's Request
	  	3
	 	 	 4.4
	 	 Preparation of Premises
	  	3
	 	 	 4.5
	 	 Quality and Cost of Materials
	  	4
	 	 	 4.6
	 	 Tenants Delay - Additional Costs
	  	4
	 	 	 4.7
	 	 Entry by Tenant Prior to Term Commencement Date
	  	4
	 	 	 4.8
	 	 Conclusiveness of Landlord’s Performance
	  	4
	 	 	 4.9
	 	 Tenant Payments of Construction Cost
	  	4
	 	 	 4.10
	 	 Furniture, Fixtures and Equipment
	  	4
			
	 5.
	 	 USE OF PREMISES
	  	5
	 	 	 5.1
	 	 Permitted Use
	  	5
	 	 	 5.2
	 	 Prohibited Uses
	  	5
	 	 	 5.3
	 	 Licenses and Permits
	  	5
			
	 6.
	 	 RENT
	  	5
			
	 7.
	 	 RENTABLE AREA
	  	6
			
	 8.
	 	 SERVICES FURNISHED BY LANDLORD
	  	6
	 	 	 8.1
	 	 Electric Current
	  	6

  

 -iii- 

							
	 	 	 8.2
	 	 Water
	  	7
	 	 	 8.3
	 	 Elevators and Heat
	  	8
	 	 	 8.4
	 	 Air Conditioning
	  	8
	 	 	 8.5
	 	 Additional Heat and Air Conditioning Services
	  	8
	 	 	 8.6
	 	 Additional Air Conditioning Equipment
	  	8
	 	 	 8.7
	 	 Repairs
	  	9
	 	 	 8.8
	 	 Interruption or Curtailment of Services
	  	9
	 	 	 8.9
	 	 Energy Conservation
	  	9
	 	 	 8.10
	 	 Miscellaneous
	  	10
			
	 9.
	 	 ESCALATION
	  	10
	 	 	 9.1
	 	 Definitions
	  	10
	 	 	 9.2
	 	 Tax Share
	  	14
	 	 	 9.3
	 	 Operating Expense Share
	  	15
	 	 	 9.4
	 	 Part Years
	  	15
	 	 	 9.5
	 	 Effect of Taking
	  	15
	 	 	 9.6
	 	 Tenant's Right to Audit
	  	15
	 	 	 9.7
	 	 Survival
	  	16
			
	 10.
	 	 CHANGES OR ALTERATIONS BY LANDLORD
	  	16
			
	 11.
	 	 FIXTURES, EQUIPMENT AND IMPROVEMENTS—REMOVAL BY TENANT
	  	16
			
	 12.
	 	 ALTERATIONS AND IMPROVEMENTS BY TENANT
	  	17
			
	 13.
	 	 TENANT’S CONTRACTORS—MECHANICS’ AND OTHER LIENS—
 STANDARD OF TENANT’S PERFORMANCE—COMPLIANCE WITH LAWS
	  	17
			
	 14.
	 	 REPAIRS BY TENANT—FLOOR LOAD
	  	18
	 	 	 14.1
	 	 Repairs by Tenant
	  	18
	 	 	 14.2
	 	 Floor Load—Heavy Machinery
	  	18
			
	 15.
	 	 INSURANCE, INDEMNIFICATION, EXONERATION AND EXCULPATION
	  	19
	 	 	 15.1
	 	 General Liability Insurance
	  	19
	 	 	 15.2
	 	 Certificates of Insurance
	  	19
	 	 	 15.3
	 	 General
	  	19
	 	 	 15.3A
	 	 Landlord's Indemnity of Tenant
	  	20

  

 -iv- 

							
	 	 	 15.4
	 	 Property of Tenant
	  	20
	 	 	 15.5
	 	 Bursting of Pipes, etc.
	  	20
	 	 	 15.6
	 	 Repairs and Alterations—No Diminution of Rental Value
	  	20
			
	 16.
	 	 ASSIGNMENT, MORTGAGING AND SUBLETTING
	  	21
			
	 17.
	 	 MISCELLANEOUS COVENANTS
	  	25
	 	 	 17.1
	 	 Rules and Regulations
	  	25
	 	 	 17.2
	 	 Access to Premises—Shoring
	  	25
	 	 	 17.3
	 	 Accidents to Sanitary and Other Systems
	  	25
	 	 	 17.4
	 	 Signs, Blinds and Drapes
	  	26
	 	 	 17.5
	 	 Estoppel Certificate
	  	26
	 	 	 17.6
	 	 Prohibited Materials and Property
	  	26
	 	 	 17.7
	 	 Requirements of Law—Fines and Penalties
	  	27
	 	 	 17.8
	 	 Tenant’s Acts—Effect on Insurance
	  	27
	 	 	 17.9
	 	 Miscellaneous
	  	27
			
	 18.
	 	 DAMAGE BY FIRE, ETC.
	  	27
			
	 19.
	 	 WAIVER OF SUBROGATION
	  	29
			
	 20.
	 	 CONDEMNATION - EMINENT DOMAIN
	  	29
			
	 21.
	 	 DEFAULT
	  	30
	 	 	 21.1
	 	 Conditions of Limitation - Re-entry - Termination
	  	30
	 	 	 21.2
	 	 Intentionally Omitted
	  	31
	 	 	 21.3
	 	 Damages - Termination
	  	31
	 	 	 21.4
	 	 Fees and Expenses
	  	32
	 	 	 21.5
	 	 Waiver of Redemption
	  	32
	 	 	 21.6
	 	 Landlord’s Remedies Not Exclusive
	  	32
	 	 	 21.7
	 	 Grace Period
	  	32
			
	 22.
	 	 END OF TERM - ABANDONED PROPERTY
	  	33
			
	 23.
	 	 SUBORDINATION
	  	33
			
	 24.
	 	 QUIET ENJOYMENT
	  	35

  

 -v- 

							
	 25.
	 	 ENTIRE AGREEMENT — WAIVER — SURRENDER
	  	35
	 	 	 25.1
	 	 Entire Agreement
	  	35
	 	 	 25.2
	 	 Waiver by Landlord
	  	35
	 	 	 25.3
	 	 Surrender
	  	36
			
	 26.
	 	 INABILITY TO PERFORM - EXCULPATORY CLAUSE
	  	36
			
	 27.
	 	 BILLS AND NOTICES
	  	37
			
	 28.
	 	 PARTIES BOUND — SEIZING OF TITLE
	  	37
			
	 29.
	 	 MISCELLANEOUS
	  	38
	 	 	 29.1
	 	 Separability
	  	38
	 	 	 29.2
	 	 Captions, etc.
	  	38
	 	 	 29.3
	 	 Broker
	  	38
	 	 	 29.4
	 	 Modifications
	  	38
	 	 	 29.5
	 	 Arbitration
	  	38
	 	 	 29.6
	 	 Governing Law
	  	38
	 	 	 29.7
	 	 Assignment of Rents
	  	39
	 	 	 29.8
	 	 Representation of Authority
	  	39
	 	 	 29.9
	 	 Expenses Incurred by Landlord Upon Tenant Requests
	  	39
	 	 	 29.10
	 	 Survival
	  	39
	 	 	 29.11
	 	 Hazardous Materials
	  	39
	 	 	 29.12
	 	 Security Deposit
	  	41
	 	 	 29.13
	 	 Tenant's Option to Extend the Term of the Lease
	  	43
	 	 	 29.14
	 	 Definition of Fair Market Rental Value
	  	43
	 	 	 29.15
	 	 Parking
	  	44
			
	 EXHIBITS
	 	 	  	 
			
	 	 	 Exhibit 1 Lease Data
	  	 
	 	 	 Exhibit 2 Lease Plan
	  	 
	 	 	 Exhibit 3 Plan of Complex
	  	 
	 	 	 Exhibit 4 Landlord’s Work
	  	 
	 	 	 Exhibit 5 Furniture and Equipment
	  	 
	 	 	 Exhibit 6 List of Telecommunications Providers
	  	 
	 	 	 Exhibit 7 Form of Letter of Credit
	  	 

  

 -vi- 

 THIS INDENTURE OF LEASE made and entered into on the Execution Date as stated in Exhibit 1 and between
the Landlord and the Tenant named in Exhibit 1. 
  
 Landlord does hereby demise
and lease to Tenant, and Tenant does hereby hire and take from Landlord, the premises hereinafter mentioned and described (hereinafter referred to as “premises”), upon and subject to the covenants, agreements, terms, provisions and
conditions of this Lease for the term hereinafter stated: 
  
 1. REFERENCE DATA

  
 Each reference in this Lease to any of the terms and
titles contained in any Exhibit attached to this Lease shall be deemed and construed to incorporate the data stated under that term or title in such Exhibit. 
  
 2. DESCRIPTION OF DEMISED PREMISES 
  
 2.1 Demised Premises. The premises are that portion of the Building as described in Exhibit 1 (as the same may from time to time be constituted
after changes therein, additions thereto and eliminations therefrom pursuant to rights of Landlord hereinafter reserved) and is hereinafter referred to as “Building”, substantially as shown hatched or outlined on the Lease Plan (Exhibit 2)
hereto attached and incorporated by reference as a part hereof. 
  
 2.2 Appurtenant Rights. Tenant shall have, as appurtenant to the premises, rights to use in common, with others entitled thereto, subject to reasonable rules from time to time made by Landlord of which Tenant is given notice; (a) the
common lobbies, hallways, stairways and elevators of the Building, serving the premises in common with others, (b) common walkways necessary for access to the Building, and (c) if the premises include less than the entire rentable area of any floor,
the common toilets and other common facilities of such floor; and no other appurtenant rights or easements. Notwithstanding anything to the contrary herein or in the Lease contained, Landlord has no obligation to allow any particular
telecommunication service provider to have access to the Building or to Tenant’s premises, other than such providers listed on Exhibit 6, attached hereto. With respect to any telecommunications service providers not listed on Exhibit 6, if
Landlord permits such access, Landlord may condition such access upon the payment to Landlord by the service provider of fees assessed by Landlord in its sole discretion. 
  
 2.3 Exclusions and Reservations. All the perimeter walls of the premises except the inner surfaces thereof, any
balconies (except to the extent same are shown as part of the premises on the Lease Plan (Exhibit 2)), terraces or roofs adjacent to the premises, and any space in or adjacent to the premises used for shafts, stacks, pipes, conduits, wires and
appurtenant fixtures, fan rooms, ducts, electric or other utilities, sinks or other Building facilities, and the use thereof, as well as the right of access through the premises for the purposes of operation, maintenance, decoration and repair, are
expressly excluded from the premises and reserved to Landlord. 
  
 3. TERM OF
LEASE 
  
 3.1 Definitions. As used in this Lease the
words and terms which follow mean and include the following: 
  
 (a) “Specified Commencement Date” - The date (as stated in Exhibit 1) on which it is estimated that the premises will be ready for Tenant’s occupancy for its use as stated in Exhibit 1. 
  
 (b) “Term Commencement Date” - If the “Term Commencement
Date” is a date certain agreed upon by the parties at the time of the execution of this Lease, such date shall be inserted in Exhibit 1; otherwise, the “Term Commencement Date” is the date on which the premises are ready for
Tenant’s occupancy (as defined in Article 4.2) for use as set forth in Exhibit 1. If the premises are not ready for such occupancy but if, pursuant to permission therefor duly given by Landlord, Tenant takes possession of the whole or any part
of the premises for use as set forth in Exhibit 1, “Term Commencement Date” shall be the date on which Tenant takes such possession. 
  

 -1- 

 (c) “Complex” shall be defined as all of the Building, the other buildings, and the Common
Areas serving such buildings, all located on the land (“Land”) shown outlined on Exhibit 4. 
  
 (d) “Common Areas” shall be defined as the common walkways, accessways, and parking facilities located on the Land, as the same may be changed,
from time to time. 
  
 3.2 Habendum. TO HAVE AND TO HOLD
the premises for a term of years commencing on the Term Commencement Date and ending on the Termination Date as stated in Exhibit 1 or on such earlier date upon which said term may expire or be terminated pursuant to any of the conditions of
limitation or other provisions of this Lease or pursuant to law (which date for the termination of the terms hereof will hereafter be called “Termination Date”). Notwithstanding the foregoing, if the Termination Date as stated in Exhibit 1
shall fall on other than the last day of a calendar month, said Termination Date shall, at the option of Landlord, be deemed to be the last day of the calendar month in which said Termination Date occurs. 
  
 3.3 Declaration Fixing Term Commencement Date. As soon as may be after
the execution date hereof, each of the parties hereto agrees, upon demand of the other party to join in the execution, in recordable form, of a statutory notice, memorandum, etc. of lease and/or written declaration in which shall be stated such Term
Commencement Date and (if need be) the Termination Date. If this Lease is terminated before the term expires, then upon Landlord’s request the parties shall execute, deliver and record an instrument acknowledging such fact and the date of
termination of this Lease, and Tenant hereby appoints Landlord its attorney-in-fact in its name and behalf to execute such instrument if Tenant shall fail to execute and deliver such instrument after Landlord’s request therefor within ten (10)
days. 
  
 4. READINESS FOR OCCUPANCY - ENTRY BY TENANT PRIOR TO TERM
COMMENCEMENT DATE 
  
 4.1 Completion Date - Delays.
Subject to delay by causes beyond the reasonable control of Landlord or caused by the action or inaction of Tenant, Landlord shall use reasonable speed and diligence in the construction of the Building and to have the premises ready for
Tenant’s occupancy on the Specified Commencement Date. The failure to have the premises ready for Tenant’s occupancy on the Specified Commencement Date shall in no way affect the validity of this Lease or the obligations of Tenant
hereunder nor shall the same be construed in any way to extend the term of this Lease. If the premises are not ready for Tenant’s occupancy within the meaning of Article 4.2 hereof on the Specified Commencement Date, Tenant shall not have any
claim against Landlord, and Landlord shall have no liability to Tenant, by reason thereof. 
  
 4.1A Tenant’s Termination Right. Notwithstanding the foregoing, if the Term Commencement Date shall not have occurred on or before the Outside Date, as hereinafter defined, then Tenant shall have the
right, exercisable by a written thirty (30) day termination notice given on or after the Outside Date, to terminate the Lease. If the Term Commencement Date occurs on or before the thirtieth (30th) day after Landlord receives such termination
notice, Tenant’s termination notice shall be deemed to be void and of no force or effect. If the Term Commencement Date does not occur on or before such thirtieth (30th) day, this Lease shall terminate and shall be of no further force or
effect. For the purposes hereof, the “Outside Date” shall be February 1, 2004, provided however, that the Outside Date shall be extended by the length of any delays in Landlord’s Work arising from causes beyond Landlord’s
reasonable control (see Article 26). 
  
 4.2 When Premises
Deemed Ready. The premises shall be conclusively deemed ready for Tenant’s occupancy as soon as Landlord’s Work, as defined in Article 4.2A has been substantially completed by Landlord insofar as is practicable in view of delays or
defaults, if any, of Tenant or its 
  

 -2- 

 contractors, as hereinafter specified, and the elevator, plumbing, air conditioning and electric facilities are initially
substantially available to Tenant, in accordance with the obligations assumed by Landlord hereunder and, if required by applicable law, a temporary or permanent certificate of occupancy has been delivered by Landlord. The premises shall not be
deemed to be unready for Tenant’s occupancy or incomplete if only minor or insubstantial details of construction, decoration or mechanical adjustments (which do not materially interfere with Tenant’s intended use of the premises for the
permitted use hereunder) remain to be done in the premises or any part thereof, or if the delay in the availability of the premises for occupancy is (i) due to special work, changes, alterations or additions required or made by Tenant in the layout
or finish of the premises or any part thereof, (ii) caused in whole or in part by Tenant through the delay of Tenant in submitting any plans and/or specifications, supplying information, approving plans, specifications or estimates, giving
authorizations or otherwise or (iii) caused in whole or in part by delay and/or default on the part of Tenant or its contractors including, without limitation, the utility companies and other entities furnishing communications, data processing or
other service or equipment. If the premises are deemed ready for Tenant’s occupancy, pursuant to the foregoing, (and the term shall have commenced by reason thereof), but the premises are not in fact actually ready for Tenant’s occupancy,
Tenant shall not (except with Landlord’s consent) be entitled to take possession of the premises for use as set forth in Exhibit 1 until the premises are in fact actually ready for such occupancy. Landlord’s architect’s certificate of
substantial completion, as hereinabove stated, given in good faith, or of any other facts pertinent to this Article 4.2 shall be deemed conclusive of the statements therein contained and binding upon Tenant. Any of Landlord’s Work in the
premises not fully completed on the Term Commencement Date shall, except for long lead items, be so completed within three (3) business days after the actual substantial completion of Landlord’s Work. 
  
 4.2A Landlord’s Work. Except as set forth in this Article 4.2A,
Tenant shall lease the premises “as-is”, in the condition in which the premises are in as of the Term Commencement Date, without any obligation on the part of Landlord to prepare or construct the premises for Tenant’s occupancy and
without any representation or warranty by Landlord as to the condition of the premises or the Building. Landlord shall, at Landlord’s cost, construct the premises substantially in accordance with the plan attached hereto as Exhibit 4
(“Landlord’s Work”). 
  
 4.3 Tenant’s
Response to Landlord’s Request . Tenant shall, within two (2) business days after Tenant’s receipt of request therefor, respond to any Landlord request for information, approvals, and authorizations to proceed in connection with
Landlord’s Work. Time is of the essence in respect of preparation and submission of Tenant’s obligations under this Article 4. 
  
 4.4 Preparation of Premises. 
  
 (a) By Landlord. Except as is otherwise herein provided or as may be otherwise approved by the Landlord, all work necessary to prepare the premises for
Tenant’s occupancy, including work to be performed at Tenant’s expense, shall be performed by contractors employed by Landlord. 
  
 (b) By Tenant. Subject always to the provisions of Articles 4.2 and 4.3, if Tenant engages any contractors to prepare the premises for Tenant’s
occupancy, Landlord will give Tenant reasonable advance notice of the date on which the premises will be ready for such other contractors and a reasonable time will be allowed from such date for doing the work to be performed by such other
contractors. 
  
 (c) If any work, including but not by way of
limitation, installation of built-in equipment by the manufacturer or distributor thereof, shall be performed by contractors not employed by Landlord, Tenant shall take necessary reasonable measures to the end that such contractor shall cooperate in
all reasonable ways with Landlord’s contractors to avoid any delay to the work being performed by Landlord’s contractors or conflict in any other way with the performance of such work. 
  

 -3- 

 4.5 Cost of Materials. Tenant shall bear all other costs of preparing the premises for its
occupancy other than Landlord’s Work. 
  
 4.6 Tenants
Delay - Additional Costs. If Tenant fails or omits to make timely submission to Landlord of the layout and plans referred to in Article 4.3, or other pertinent information, or delays in submitting any other plans or specifications, or in
supplying information, or in approving plans, specifications or estimates, or in giving authorizations or fails to comply with Section 4.4(c) hereof, or otherwise fails to honor or perform its obligations under this Lease, any additional cost to
Landlord in connection with the completion of the premises in accordance with the terms of this Lease shall be promptly paid by Tenant to Landlord if such additional cost is in whole or in part the result of such failure, omission or delay of
Tenant. For the purposes of the next preceding sentence, the expression “additional cost to Landlord” shall mean the cost over and above such cost as would have been the aggregate cost to Landlord of completing the premises in accordance
with the terms of this Lease had there been no such failure, omission or delay. Nothing contained in this Article 4.6 shall limit or qualify or prejudice any other covenants, agreements, terms, provisions and conditions contained in this Lease,
including, but not limited to Article 4.2. 
  
 4.7 Entry
by Tenant Prior to Term Commencement Date. With Landlord’s prior written consent, which shall not be unreasonably withheld, conditioned or delayed, Tenant shall have the right to enter the premises prior to the Term Commencement Date,
during normal business hours and without payment of rent, to perform such work or decoration as is to be performed by, or under the direction or control of, Tenant and as is otherwise in compliance with the terms of this Lease. Such right of entry
shall be deemed a license from Landlord to Tenant, and any entry thereunder shall be at the risk of Tenant. 
  
 4.8 Conclusiveness of Landlord’s Performance. Tenant shall be conclusively deemed to have agreed that Landlord has performed all of its
obligations under this Article 4 unless not later than the end of the second calendar month next beginning after the Term Commencement Date Tenant shall give Landlord written notice specifying the respects in which Landlord has not performed any
such obligation. 
  
 Notwithstanding the foregoing, with respect
to latent defects in any portion of Landlord’s Work, Tenant shall be conclusively deemed to have agreed that Landlord has performed all of its obligations under this Article 4 unless, not later than the date eleven (11) months after the date
Landlord substantially completes Landlord’s Work, Tenant shall give written notice to Landlord specifying the respects in which Landlord has not performed any such obligation. 
  
 4.9 Tenant Payments of Construction Cost. Landlord shall have the same rights and remedies which Landlord has upon
the nonpayment of Yearly Rent and other charges due under this Lease for nonpayment of any amounts which Tenant is required to pay to Landlord or Landlord’s contractor in connection with the construction and initial preparation of the premises
(including, without limitation, any amounts which Tenant is required to pay in accordance with Articles 4.5 and 4.6 hereof) or in connection with any construction in the premises performed for Tenant by Landlord, Landlord’s contractor or any
other person, firm or entity after the Term Commencement Date. 
  
 4.10 Furniture, Fixtures and Equipment. Tenant shall have the right, during the term of this Lease, to use the Furniture and Equipment (“Furniture and Equipment”) listed on Exhibit 5 to this Lease. Tenant shall take the
Furniture and Equipment in the same condition in which the Furniture and Equipment as of the Term Commencement Date, without any representation or warranty by Landlord to Tenant as to the condition of the Furniture and Equipment. Tenant’s
shall: (i) maintain the Furniture and Equipment in the same condition in which it is delivered to Tenant, reasonable wear and tear and damage caused by fire or other casualty excepted; (ii) not remove from the premises or alter any item of Furniture
and Equipment; (iii) obtain and maintain property insurance (“Furniture and Equipment Insurance”), with an insurance company reasonably acceptable to Landlord, for 100% of the replacement value of the Furniture and Equipment, throughout
the term of this Lease, naming both Landlord and Tenant as additional insured parties; (iv) deliver to Landlord, prior to the commencement of the term of this Lease, evidence, in form 
  

 -4- 

 reasonably satisfactory to Landlord, that the Furniture and Equipment Insurance is in full force and effect; and (v) at
the end of the term of the Lease, deliver the Furniture and Equipment to Landlord in the same condition in which it is delivered to Tenant, reasonable wear and tear and damage caused by fire or other casualty excepted. 
  
 5. USE OF PREMISES 
  
 5.1 Permitted Use. Tenant shall continuously during the term hereof occupy and use the premises only for the purposes
as stated in Exhibit 1 and for no other purposes. Service and utility areas (whether or not a part of the premises) shall be used only for the particular purpose for which they were designed. Without limiting the generality of the foregoing, Tenant
agrees that it shall not use the premises or any part thereof, or permit the premises or any part thereof to be used for the preparation or dispensing of food, whether by vending machines or otherwise. Notwithstanding the foregoing, but subject to
the other terms and provisions of this Lease, Tenant may, with Landlord’s prior written consent, which consent shall not be unreasonably withheld, install at its own cost and expense so-called hot-cold water fountains, coffee makers, microwave
ovens and so-called Dwyer refrigerator-sink-stove combinations for the preparation of beverages and foods, provided that no cooking, frying, etc., are carried on in the premises to such extent as requires special exhaust venting, Tenant hereby
acknowledging that the Building is not engineered to provide any such special venting. 
  
 5.2 Prohibited Uses. Notwithstanding any other provision of this Lease, Tenant shall not use, or suffer or permit the use or occupancy of, or suffer or permit anything to be done in or anything to be brought
into or kept in or about the premises or the Building or any part thereof (including, without limitation, any materials appliances or equipment used in the construction or other preparation of the premises and furniture and carpeting): (i) which
would violate any of the covenants, agreements, terms, provisions and conditions of this Lease or otherwise applicable to or binding upon the premises; (ii) for any unlawful purposes or in any unlawful manner; (iii) which, in the reasonable judgment
of Landlord shall in any way (a) impair the appearance or reputation of the Building; or (b) impair, interfere with or otherwise diminish the quality of any of the Building services or the proper and economic heating, cleaning, ventilating, air
conditioning or other servicing of the Building; or premises, or with the use or occupancy of any of the other areas of the Building, or occasion discomfort, inconvenience or annoyance, or injury or damage to any occupants of the premises or other
tenants or occupants of the Building; or (iv) which is inconsistent with the maintenance of the Building as an office building of the first class in the quality of its maintenance, use, or occupancy. Tenant shall not install or use any electrical or
other equipment of any kind which, in the reasonable judgment of Landlord, might cause any such impairment, interference, discomfort, inconvenience, annoyance or injury. 
  
 5.3 Licenses and Permits. If any governmental license or permit shall be required for the proper and lawful conduct
of Tenant’s business, and if the failure to secure such license or permit would in any way affect Landlord, the premises, the Building or Tenant’s ability to perform any of its obligations under this Lease, Tenant, at Tenant’s
expense, shall duly procure and thereafter maintain such license and submit the same to inspection by Landlord. Tenant, at Tenant’s expense, shall at all times comply with the terms and conditions of each such license or permit. Tenant shall
furnish all data and information to governmental authorities and Landlord as required in accordance with legal, regulatory, licensing or other similar requirements as they relate to Tenant’s use or occupancy of the premises or the Building.

  
 6. RENT 
  
 During the term of this Lease the Yearly Rent and other charges, at the rate stated in Exhibit 1, shall be payable by Tenant
to Landlord by monthly payments, as stated in Exhibit 1, in advance and without demand on the first day of each month for and in respect of such month. Notwithstanding the foregoing, Tenant’s obligation to pay Yearly Rent, Operating Expense
Excess, and Tax Excess shall not commence to accrue until the Rent Commencement Date. Notwithstanding the provisions of the next preceding sentence, Tenant shall pay the first monthly installment of rent on the execution of this Lease. If, by reason
of any 
  

 -5- 

 provisions of this Lease, the rent reserved hereunder shall commence or terminate on any day other than the first day of
a calendar month, the rent for such calendar month shall be prorated. The rent shall be payable to Landlord or, if Landlord shall so direct in writing, to Landlord’s agent or nominee, in lawful money of the United States which shall be legal
tender for payment of all debts and dues, public and private, at the time of payment, at the office of the Landlord or such place as Landlord may designate, and the rent and other charges in all circumstances shall be payable without any setoff or
deduction whatsoever. Rental and any other sums due hereunder not paid on or before the date due shall bear interest for each month or fraction thereof from the due date until paid computed at the annual rate of five percentage points over the
so-called prime rate then currently from time to time charged to its most favored corporate customers by the largest national bank (N.A.) located in the city in which the Building is located, or at any applicable lesser maximum legally permissible
rate for debts of this nature. 
  
 7. RENTABLE AREA 
  
 Total Rentable Area of the premises, the Building and the Complex are agreed
to be the amounts set forth in Exhibit 1. 
  
 8. SERVICES FURNISHED BY LANDLORD

  
 8.1 Electric Current. 
  
 (a) As stated in Exhibit 1, Landlord will either furnish to Tenant, as an
incident of this Lease, electric current for the operation of lighting fixtures, the 120-volt electrical outlets initially installed in the premises and Tenant will reimburse Landlord for the cost of such electric current as measured by a separate
submeter or checkmeter currently installed to service the premises, as hereinafter set forth, or Landlord will require Tenant to contract with the company supplying electric current for the purchase and obtaining by Tenant of electric current
directly from such company to be billed directly to, and paid for by, Tenant. 
  
 (b) If Landlord is providing electric current to Tenant, as aforesaid, then Tenant shall reimburse Landlord for the entire cost of such electric current as follows: 
  

	 	1.	Commencing as of the Term Commencement Date and continuing until the procedures set forth in Paragraph 2 of this Article 8.1(b) are effected, Tenant shall pay to Landlord at the
same time and in the same manner that it pays its monthly payments of Yearly Rent hereunder, estimated payments (i.e., based upon Landlord’s reasonable estimate) on account of Tenant’s obligation to reimburse Landlord for electricity
consumed in the premises. 

  

	 	2.	Periodically after the Term Commencement Date, Landlord shall determine the actual cost of electricity consumed by Tenant in the premises (i.e. by reading Tenant’s sub-meter
and by applying an electric rate which shall not exceed the retail rate which would have been payable by Tenant had Tenant obtained electric services directly from the utility company providing electric current to Landlord. If the total of
Tenant’s estimated monthly payments on account of such period is less than the actual cost of electricity consumed in the premises during such period, Tenant shall pay the difference to Landlord when billed therefor. If the total of
Tenant’s estimated monthly payments on account of such period is greater than the actual cost of electricity consumed in the premises during such period, Tenant may credit the difference against its next installment of rental or other charges
due hereunder. 

  

 -6- 

	 	3.	After each adjustment, as set forth in Paragraph 2 above, the amount of estimated monthly payments on account of Tenant’s obligation to reimburse Landlord for electricity in
the premises shall be adjusted based upon the actual cost of electricity consumed during the immediately preceding period. 

  
 (c) If Landlord is furnishing Tenant electric current hereunder, Landlord, at any time, at its option and upon not less than thirty (30) days’ prior
written notice to Tenant, may discontinue such furnishing of electric current to the premises; and in such case Tenant shall contract with the company supplying electric current for the purchase and obtaining by Tenant of electric current directly
from such company. In the event Tenant itself contracts for electricity with the supplier, pursuant to Landlord’s option as above stated, Landlord shall (i) permit its risers, conduits and feeders to the extent available, suitable and safely
capable, to be used for the purpose of enabling Tenant to purchase and obtain electric current directly from such company, (ii) without cost or charge to Tenant, make such alterations and additions to the electrical equipment and/or appliances in
the Building as such company shall specify for the purpose of enabling Tenant to purchase and obtain electric current directly from such company, and (iii) at Landlord’s expense, furnish and install in or near the premises any necessary
metering equipment used in connection with measuring Tenant’s consumption of electric current and Tenant, at Tenant’s expense, shall maintain and keep in repair such metering equipment. 
  
 (d) Whether or not Landlord is furnishing electric current to Tenant, if
Tenant shall require electric current for use in the premises in excess of such reasonable quantity to be furnished for such use as hereinabove provided and if (i) in Landlord’s reasonable judgment, Landlord’s facilities are inadequate for
such excess requirements or (ii) such excess use shall result in an additional burden on the Building air conditioning system and additional cost to Landlord on account thereof then, as the case may be, (x) Landlord upon written request and at the
sole cost and expense of Tenant, will furnish and install such additional wire, conduits, feeders, switchboards and appurtenances as reasonably may be required to supply such additional requirements of Tenant if current therefor be available to
Landlord, provided that the same shall be permitted by applicable laws and insurance regulations and shall not cause damage to the Building or the premises or cause or create a dangerous or hazardous condition or entail excessive or unreasonable
alterations or repairs or interfere with or disturb other tenants or occupants of the Building or (y) Tenant shall reimburse Landlord for such additional cost, as aforesaid. 
  
 (e) Landlord, at Tenant’s expense and upon Tenant’s request, shall purchase and install, during normal business
hours, all replacement lamps of types generally commercially available (including, but not limited to, incandescent and fluorescent) used in the premises. 
  
 (f) Landlord shall not in any way be liable or responsible to Tenant for any loss, damage or expense which Tenant may sustain or incur if the quantity,
character, or supply of electrical energy is changed or is no longer available or suitable for Tenant’s requirements. 
  
 (g) Tenant agrees that it will not make any material alteration or material addition to the electrical equipment and/or appliances in the premises without
the prior written consent of Landlord in each instance first obtained, which consent will not be unreasonably withheld, and will promptly advise Landlord of any other alteration or addition to such electrical equipment and/or appliances. 

 
 8.2 Water. Landlord shall furnish hot and cold water for ordinary
premises, cleaning, toilet, lavatory and drinking purposes. If Tenant requires, uses or consumes water for any purpose other than for the aforementioned purposes, Landlord may (i) assess a reasonable charge for the additional water so used or
consumed by Tenant or (ii) install a water meter and thereby measure Tenant’s water consumption for all purposes. In the latter event, Landlord shall pay the cost of the meter and the cost of installation thereof and shall keep said meter and
installation equipment in good working order and repair. Tenant agrees to pay for water consumed, as shown on said meter, together with the sewer charge based on said meter charges, as 
  

 -7- 

 and when bills are rendered, and on default in making such payment Landlord may pay such charges and collect the same
from Tenant. All piping and other equipment and facilities for use of water outside the building core will be installed and maintained by Landlord at Tenant’s sole cost and expense. 
  
 8.3 Elevators and Heat. 
  
 Landlord at its expense shall: (i) provide necessary elevator facilities (which may be manually or automatically operated, either or both, as Landlord may
from time to time elect) on Mondays through Fridays, excepting legal holidays, from 8:00 a.m. to 6:00 p.m. and on Saturdays, excepting legal holidays, from 8:00 a.m. to 1:00 p.m. (called “business days”) and have one elevator in operation
available for Tenant’s use, non-exclusively, together with others having business in the Building, at all other times; (ii) furnish heat (substantially equivalent to that being furnished in comparably aged similarly equipped office buildings in
the same city) to the premises during the normal heating season on business days; and (iii) cause the common areas of the Building to be cleaned on business days (i.e., Monday through Friday) in a manner consistent with cleaning standards generally
prevailing in the office buildings in the City of Cambridge. 
  
 8.4 Air Conditioning. Landlord shall through the air conditioning equipment of the Building furnish to and distribute in the premises air conditioning as normal seasonal changes may require on business days during the hours as
aforesaid in Article 8.3 when air conditioning may reasonably be required for the comfortable occupancy of the premises by Tenant. Tenant agrees to lower and close the blinds or drapes when necessary because of the sun’s position, whenever the
air conditioning system is in operation, and to cooperate fully with Landlord with regard to, and to abide by all the reasonable regulations and requirements which Landlord may prescribe for the proper functioning and protection of the air
conditioning system. The air conditioning system referred to in this Article 8.4 shall be capable of maintaining a temperature range that is reasonably standard for buildings of similar class, size, age and location. 
  
 8.5 Additional Heat and Air Conditioning Services. 
  
 (a) Landlord will use reasonable efforts upon reasonable advance written
notice from Tenant of its requirements in that regard, to furnish additional heat or air conditioning services to the premises on days and at times other than as above provided. 
  
 (b) Tenant will pay to Landlord a reasonable charge (i) for any such additional heat or air conditioning service required by
Tenant. 
  
 8.6 Additional Air Conditioning Equipment. In
the event Tenant requires additional air conditioning for business machines, meeting rooms or other special purposes, or because of occupancy or excess electrical loads, any additional air conditioning units, chillers, condensers, compressors,
ducts, piping and other equipment, such additional air conditioning equipment will be installed, but only if, in Landlord’s reasonable judgment, the same will not cause damage or injury to the Building or create a dangerous or hazardous
condition or entail excessive or unreasonable alterations, repairs or expense or interfere with or disturb other tenants. At Landlord’s sole election, such equipment will either be installed: 
  
 (a) by Landlord at Tenant’s expense and Tenant shall reimburse Landlord
in such an amount as will compensate it for the cost incurred by it in operating, maintaining, repairing and replacing, if necessary, such additional air conditioning equipment; or 
  
 (b) by Tenant, subject to Landlord’s prior approval of Tenant’s plans and specifications for such work. In such
event: (i) such equipment shall be maintained, repaired and replaced by Tenant at Tenant’s sole cost and expense, and (ii) throughout the term of this Lease, Tenant shall, at Tenant’s sole cost and expense, purchase and maintain a service
contract for such equipment from a service provider approved by Landlord. Tenant shall obtain Landlord’s prior written approval, which shall not be unreasonably withheld, of both the form of service contract and of the service provider.

  

 -8- 

 8.7 Repairs. Except as otherwise provided in Articles 18 and 20, and subject to Tenant’s
obligations in Article 14, Landlord shall keep and maintain the roof, exterior walls, structural floor slabs, columns, elevators, public stairways and corridors, public lavatories, equipment (including, without limitation, sanitary, electrical,
heating, air conditioning, or other systems) and other common facilities of both the Building and the Common Areas in good condition and repair. Landlord shall keep the paved portions of the Common Areas reasonably free of ice and snow. 

 
 8.8 Interruption or Curtailment of Services. A. When necessary by
reason of accident or emergency, or for repairs, alterations, replacements or improvements which in the reasonable judgment of Landlord are desirable or necessary to be made, or of difficulty or inability in securing supplies or labor, or of
strikes, or of any other cause beyond the reasonable control of Landlord, whether such other cause be similar or dissimilar to those hereinabove specifically mentioned until said cause has been removed, Landlord reserves the right to interrupt,
curtail, stop or suspend (i) the furnishing of heating, elevator, air conditioning, and cleaning services and (ii) the operation of the plumbing and electric systems. Landlord shall exercise reasonable diligence to eliminate the cause of any such
interruption, curtailment, stoppage or suspension, but there shall be no diminution or abatement of rent or other compensation due from Landlord to Tenant hereunder, nor shall this Lease be affected or any of the Tenant’s obligations hereunder
reduced, and the Landlord shall have no responsibility or liability for any such interruption, curtailment, stoppage, or suspension of services or systems. 
  
 B. Notwithstanding anything to the contrary in this Lease contained, if the premises shall lack any service which Landlord is required to provide
hereunder (thereby rendering the premises or a portion thereof untenantable) so that, for the Landlord Service Interruption Cure Period, as hereinafter defined, the continued operation in the ordinary course of Tenant’s business is materially
adversely affected and if Tenant ceases to use the affected portion of the premises during the period of untenantability as the direct result of such lack of service, then, provided that Tenant ceases to use the affected portion of the premises
during the entirety of the Landlord Service Interruption Cure Period and that such untenantability and Landlord’s inability to cure such condition is not caused by the fault or neglect of Tenant or Tenant’s agents, employees or contractors
or causes beyond Landlord’s reasonable control, Yearly Rent, Operating Expense Share and Tax Share shall thereafter be abated in proportion to such untenantability until the day such condition is completely corrected. For the purposes hereof,
the “Landlord Service Interruption Cure Period” shall be defined as five (5) consecutive business days after Landlord’s receipt of written notice from Tenant of the condition causing untenantability in the premises. 
  
 C. The provisions of Paragraph B of this Article 8.8 shall not apply in the
event of untenantability caused by fire or other casualty, or taking (see Articles 18 and 20). 
  
 D. Notwithstanding anything to the contrary in this Lease contained, in the event that the premises lack any service which Landlord is required to provide hereunder or electric current thereby rendering the premises
or any material portion thereof untenantable, the untenantability of which substantially adversely affects the continued operation in the ordinary course of Tenant’s business, and (i) if such untenantability continues for ninety (90)
consecutive days after Landlord’s receipt of written notice of such condition from Tenant, and (ii) such untenantability is not caused by the fault or neglect of Tenant, or Tenant’s agents, employees, or contractors, then, provided
that Tenant ceases to use the affected portion of the premises during the entire period of such untenantability, Tenant shall have the right to terminate this Lease exercisable by giving Landlord a written termination notice as follows. This Lease
shall terminate as of the date ten (10) days after Landlord’s receipt of Tenant’s notice, unless Landlord shall have cured such condition on or before such tenth day. 
  
 8.9 Energy Conservation. Notwithstanding anything to the contrary in this Article 8 or in this Lease contained,
Landlord may institute, and Tenant shall comply with, such reasonable policies, 
  

 -9- 

 programs and measures as may be necessary, required, or expedient for the conservation and/or preservation of energy or
energy services, or as may be necessary or required to comply with applicable codes, rules regulations or standards. 
  
 8.10 Miscellaneous. Other than air conditioning, all services provided by Landlord to Tenant are based upon an assumed maximum premises population
of one person per two hundred (200) square feet of Total Rentable Area, which limit Tenant shall in no event exceed. 
  
 9. ESCALATION 
  
 9.1 Definitions. As used in this Article 9, the words and terms which follow mean and include the following: 
  
 (a) “Operating Year” shall mean a calendar year in which occurs
any part of the term of this Lease. 
  
 (b) “Tenant’s
Proportionate Building Share” shall be the figure as stated in Exhibit 1. Tenant’s Proportionate Building Share is the ratio of the Total Rentable Area of the premises to the aggregate Total Rentable Area of the Building. 
  
 (c) “Tenant’s Proportionate Common Area Share” shall initially
be the figure as stated in Exhibit 1. Tenant’s Proportionate Common Area Share is the ratio of the Total Rentable Area of the premises to the aggregate Total Rentable Area, from time to time, of all buildings within the Complex which have been
completed and for which a certificate of occupancy has been issued. As additional buildings are completed within the Complex, Tenant’s Proportionate Common Area Share shall be adjusted to equal the then current ratio of the Total Rentable Area
of the premises to the aggregate Total Rentable Area within the Complex which is then completed and as to which a certificate of occupancy is issued. 
  
 (d) “Taxes” shall mean the real estate taxes and other taxes, levies and assessments imposed upon the Building and the Common Areas of the
Complex and upon any personal property of Landlord used in the operation thereof, or Landlord’s interest in the Building, the Common Areas, or such personal property; charges, fees and assessments for transit, housing, police, fire or other
governmental services or purported benefits to the Building and/or the Common Areas; service or user payments in lieu of taxes; and any and all other taxes, levies, betterments, assessments and charges arising from the ownership, leasing, operating,
use or occupancy of the Building, the Common Areas or based upon rentals derived therefrom, which are or shall be imposed by National, State, Municipal or other authorities. As of the Execution Date, “Taxes” shall not include any
franchise, rental, income or profit tax, capital levy or excise, provided, however, that any of the same and any other tax, excise, fee, levy, charge or assessment, however described, that may in the future be levied or assessed as a substitute for
or an addition to, in whole or in part, any tax, levy or assessment which would otherwise constitute “Taxes,” whether or not now customary or in the contemplation of the parties on the Execution Date of this Lease, shall constitute
“Taxes,” but only to the extent calculated as if the Complex is the only real estate owned by Landlord. “Taxes” shall also include expenses of tax abatement or other proceedings contesting assessments or levies. The parties
acknowledge that, as of the Execution Date, Taxes are based upon several separate tax bills affecting the Complex. Taxes shall be allocated by Landlord, in Landlord’s reasonable judgment, among the Building (the portion of Taxes allocable to
the Building being referred to herein as “Building Taxes”), the other buildings of the Complex, and the Common Areas (the portion of Taxes allocable to the Common Areas being referred to herein as “Common Area Taxes”).

  
 (e) “Tax Period” shall be any fiscal/tax period in
respect of which Taxes are due and payable to the appropriate governmental taxing authority, any portion of which period occurs during the term of this Lease, the first such Period being the one in which the Term Commencement Date occurs.

  

 -10- 

 (f) “Operating Costs”: 
  
   (1) Definition of Operating Costs. “Operating Costs” shall mean all costs incurred and
expenditures of whatever nature made by Landlord in the operation and management, for repair and replacements, cleaning and maintenance of the Building, the Complex, and the Common Areas of the Complex including, without limitation, vehicular and
pedestrian passageways related to the Complex, related equipment, facilities and appurtenances, elevators, cooling and heating equipment. In the event that Landlord or Landlord’s managers or agents perform services for the benefit of the
Complex off-site which would otherwise be performed on-site (e.g., accounting), the cost of such services shall be reasonably allocated among the properties benefiting from such service and shall be included in Operating Costs. Operating Costs shall
include, without limitation, those categories of “Specifically Included Operating Costs,” as set forth below, but shall not include “Excluded Costs,” as hereinafter defined. 
  
   (2) Definition of Excluded Costs. “Excluded
Costs” shall be defined as, subject to Subparagraph (3) below, such portion of expenditures as are not properly chargeable against income, and the following: 
  

	 	(a)	any costs of renovating or otherwise improving space for tenants or other occupants of the Building; 

  

	 	(b)	any costs in connection with an expansion of the Total Rentable Area of the Building; 

  

	 	(c)	to the extent that any Operating Costs are incurred in connection with any building or improvement in the Complex, other than the Building, such costs shall be allocated by
Landlord, on a reasonable basis, among the properties to which such costs relate; 

  

	 	(d)	any cost of reconstruction or other work occasioned by fire, windstorm, or by any casualty insured, or required to be insured, against hereunder, or by the exercise of the right of
eminent domain, except to the extent of any so-called “deductible” amount under policies of insurance maintained therefor by Landlord; 

  

	 	(e)	any leasing costs and related advertising and promotional expenditures; commissions, attorneys’ fees, costs and disbursements; and any expenses in connection with negotiations
or disputes with tenants, other occupants, or prospective tenants or other occupants; 

  

	 	(f)	any cost of services or utilities that are provided by Landlord to tenants, for which tenants are required to make separate payment to Landlord; 

  

	 	(g)	any expenses in connection with services or other benefits of a type which are not provided to Tenant, but which are provided to another tenant or occupant;

  

	 	(h)	any penalties or damages incurred due to violation by Landlord of the terms and conditions of any lease; 

  

	 	(i)	any charges under any service, maintenance, management or other contract or agreement made with an affiliate of Landlord or any person or party otherwise directly or indirectly
related to Landlord, but only to the extent that the amount of such payment exceeds competitive costs of the same item if furnished or provided by an unrelated person or party; 

  

 -11- 

	 	(j)	any interest or principal on debt, except to the extent included in annual charge-off for a permitted capital expenditure; fixed or percentage rent or amortization payments payable
under any ground or underlying leases; 

  

	 	(k)	any of Landlord’s general overhead not directly connected with the management/operation of the Building or the Complex; 

  

	 	(l)	any compensation paid to employees or other persons in connection with commercial concessions operated by Landlord; 

  

	 	(m)	any items or services for which Tenant or any tenant specifically reimburses Landlord or pays third persons (other than through Operating Cost pass-through provisions similar to
this Article 9); 

  

	 	(n)	any fines or penalties incurred due to any violation by Landlord of any governmental rule or authority; 

  

	 	(o)	any increases in premium for any insurance maintained by Landlord resulting from the extra-hazardous activities of Landlord or other tenants; or 

  

	 	(p)	any costs of maintenance, repairs or replacements required because of the gross negligence or willful misconduct of Landlord, its officers, directors, servants, agents, employees or
contractors. 

  
   (3)
Capital Expenditures. 
  
 (i)
Replacements. If, during the term of this Lease, Landlord shall replace any capital items or make any capital expenditures (collectively called “capital expenditures”) the total amount of which is not properly includible in
Operating Costs for the Operating Year in which they were made, there shall nevertheless be included in such Operating Costs and in Operating Costs for each succeeding Operating Year the amount, if any, by which the Annual Charge-Off (determined as
hereinafter provided) of such capital expenditure (less insurance proceeds, if any, collected by Landlord by reason of damage to, or destruction of the capital item being replace) exceeds the Annual Charge-Off of the capital expenditure for the item
being replaced. 
  
 (ii) New Capital
Items. If a new capital item is acquired which does not replace another capital item which was worn out, has become obsolete, etc., then there shall be included in Operating Costs for each Operating Year in which and after such capital
expenditure is made the Annual Charge-Off of such capital expenditure. 
  
 (iii) Annual Charge-Off. “Annual Charge-Off” shall be defined as the annual amount of principal and interest payments which would be required to repay a loan (“Capital Loan”) in equal
monthly installments over the Useful Life, as hereinafter defined, of the capital item in question on a direct reduction basis at an annual interest rate equal to the Capital Interest Rate, as hereinafter defined, where the initial principal balance
is the cost of the capital item in 
  

 -12- 

 question. Notwithstanding the foregoing, if Landlord reasonably concludes on the basis of engineering
estimates that a particular capital expenditure will effect savings in Building operating expenses including, without limitation, energy-related costs, and that such projected savings will, on an annual basis (“Projected Annual Savings”),
exceed the Annual Charge-Off of such capital expenditure computed as aforesaid, then and in such events, the Annual Charge-Off shall be increased to an amount equal to the Projected Annual Savings; and in such circumstances, the increased Annual
Charge-Off (in the amount of the Projected Annual Savings) shall be made for such period of time as it would take to fully amortize the cost of the capital item in question, together with interest thereon at the Capital Interest Rate as aforesaid,
in equal monthly payments, each in the amount of one-twelfth (1/12th) of the Projected Annual Savings, with such payments being applied first to interest and the balance to principal. 
  
 (iv) Useful Life. “Useful Life” shall be reasonably determined by Landlord in accordance
with generally accepted accounting principles and practices in effect at the time of acquisition of the capital item. 
  
 (v) Capital Interest Rate. “Capital Interest Rate” shall be defined as an annual rate of either one percentage point
over the AA Bond rate (Standard & Poor’s corporate composite or, if unavailable, its equivalent) as reported in the financial press at the time the capital expenditure is made or, if the capital item is acquired through third-party
financing, then the actual (including fluctuating) rate paid by Landlord in financing the acquisition of such capital item. 
  
 (4) Specifically Included Categories of Operating Costs. Operating Costs shall include, but not be limited to, the following: 

 
 Taxes (other than real estate taxes): Sales, Federal
Social Security, Unemployment and Old Age Taxes and contributions and State Unemployment taxes and contributions accruing to and paid by the Landlord on account of all employees of Landlord and/or Landlord’s managing agent, who are employed in,
about or on account of the Complex, except that taxes levied upon the net income of the Landlord and taxes withheld from employees, and “Taxes” as defined in Article 9.1(d) shall not be included herein. 
  
 Water: All charges and rates connected with water supplied
to the Building and related sewer use charges. 
  
 Heat and Air Conditioning: All charges connected with heat and air conditioning supplied to the Building. 
  
 Wages: Wages and cost of all employee benefits of all employees of the Landlord and/or Landlord’s managing agent who are employed in,
about or on account of the Building. 
  
 Cleaning: The cost of labor and material for cleaning the Building, surrounding areaways and windows in the Building. 
  
 Elevator Maintenance: All expenses for or on account of the upkeep and maintenance of all elevators in the Building. 
  
 Management Fee: The cost of professional management of the
Building. 
  

 -13- 

 Administrative Costs: The cost of office expense, including, without limitation, rent,
business supplies and equipment. 
  
 Electricity:
The cost of all electric current for the operation of any machine, appliance or device used for the operation of the premises and the Building, including the cost of electric current for the elevators, lights, air conditioning and heating, but not
including electric current which is paid for directly to the utility by the user/tenant in the Building. (If and so long as Tenant is billed directly by the electric utility for its own consumption as determined by its separate meter, or billed
directly by Landlord as determined by a check meter, then Operating Costs shall include only Building and public area electric current consumption and not any demised premises electric current consumption. Wherever separate metering is unlawful,
prohibited by utility company regulation or tariff or is otherwise impracticable, relevant consumption figures for the purposes of this Article 9 shall be determined by fair and reasonable allocations and engineering estimates made by Landlord.
Furthermore, if and to the extent that the Operating-Costs-in-the-Base-Year figure shall include any component representing the cost to the Landlord of electric current supplied to any tenant’s premises under so-called
“rent-inclusion” lease arrangements, then if such cost is eliminated from Operating Costs in an Operating Year in accordance with the foregoing provisions, the figure for Operating Costs in the Base Year for the purposes of this Article 9
shall likewise be reduced by the amount for such cost component.) 
  
 Insurance, etc.: Fire, casualty, liability, rent loss and such other insurance as may from time to time be required by lending institutions on first-class office buildings in the City or Town wherein the Building is
located and all other expenses customarily incurred in connection with the operation and maintenance of first-class office buildings in the City or Town wherein the Building is located including, without limitation, insurance deductible amounts and
rental costs associated with the Building’s management office. 
  
 (5) Definitions of Building Operating Costs and Common Area Operating Costs. “Building Operating Costs” shall be defined as the amount of Operating Costs allocable to the Building in any Operating Year.
“Common Area Operating Costs” shall be defined as the amount of Operating Costs allocable to the Common Areas in any Operating Year. All Operating Costs incurred by Landlord in respect of the Complex shall be allocated, in Landlord’s
reasonable judgment, among the Building, the other buildings of the Complex, and the Common Areas. 
  
 9.2 Tax Share. Commencing as of the Rent Commencement Date and continuing thereafter with respect to each Tax Year occurring during the term of the
Lease, Tenant shall pay to Landlord, with respect to any Tax Period, the sum of: (x) Tenant’s Proportionate Building Share of Building Taxes for such Tax Period, plus (y) Tenant’s Proportionate Common Share of Common Area Taxes for such
Tax Period, such sum being hereinafter referred to as “Tax Share”. Tax Share shall be due when billed by Landlord. In implementation and not in limitation of the foregoing, Tenant shall remit to Landlord pro rata monthly installments on
account of projected Tax Share, calculated by Landlord on the basis of the most recent Tax data or budget available. If the total of such monthly remittances on account of any Tax Period is greater than the actual Tax Share for such Tax Period,
Tenant may credit the difference against the next installment of rental or other charges due to Landlord hereunder. If the total of such remittances is less than the actual Tax Share for such Tax Period, Tenant shall pay the difference to Landlord
when billed therefor. 
  
 Appropriate credit against Tax Share
shall be given for any refund obtained by reason of a reduction in any Taxes by the Assessors or the administrative, judicial or other governmental agency responsible therefor. The original computations, as well as reimbursement or payments of
additional charges, if any, or allowances, if any, under the provisions of this Article 9.2 shall be based on the original 
  

 -14- 

 assessed valuations with adjustments to be made at a later date when the tax refund, if any, shall be paid to Landlord by
the taxing authorities. Expenditures for legal fees and for other similar or dissimilar expenses incurred in obtaining the tax refund may be charged against the tax refund before the adjustments are made for the Tax Period. 
  
 9.3 Operating Expense Share. Commencing as of the Rent Commencement
Date and continuing thereafter with respect to each Operating Year occurring during the term of the Lease, Tenant shall pay to Landlord, with respect to any Operating Year, the sum of: (x) Tenant’s Proportionate Building Share of Building
Operating Costs for such Operating Year, plus (y) Tenant’s Proportionate Common Share of Common Operating Costs for such Operating Year, such sum being hereinafter referred to as “Operating Expense Share”. In implementation and not in
limitation of the foregoing, Tenant shall remit to Landlord pro rata monthly installments on account of projected Operating Expense Share, calculated by Landlord on the basis of the most recent Operating Costs data or budget available. If the total
of such monthly remittances on account of any Operating Year is greater than the actual Operating Expense Share for such Operating Year, Tenant may credit the difference against the next installment of rent or other charges due to Landlord
hereunder. If the total of such remittances is less than actual Operating Expense Share for such Operating Year, Tenant shall pay the difference to Landlord when billed therefor. 
  
 9.4 Part Years. If the Rent Commencement Date or the Termination Date occurs in the middle of an Operating Year or
Tax Period, Tenant shall be liable for only that portion of the Operating Expense or Tax Share, as the case may be, in respect of such Operating Year or Tax Period represented by a fraction the numerator of which is the number of days of the herein
term after the Rent Commencement Date which falls within the Operating Year or Tax Period and the denominator of which is three hundred sixty-five (365), or the number of days in said Tax Period, as the case may be. 
  
 9.5 Effect of Taking. In the event of any taking of the Building or
the land upon which it stands under circumstances whereby this Lease shall not terminate under the provisions of Article 20 then, Tenant’s Proportionate Building Share and Tenant’s Proportionate Common Area Share shall be adjusted
appropriately to reflect the proportion of the premises and/or the Building remaining after such taking. 
  
 9.6 Tenant’s Right to Audit. Subject to the provisions of this Article 9.6, Tenant shall have the right, at Tenant’s cost and expense, to
examine all documentation and calculations prepared in the determination of Operating Expense Share: 
  

	 	1.	Such documentation and calculation shall be made available to Tenant at the offices where Landlord keeps such records during normal business hours within a reasonable time after
Landlord receives a written request from Tenant to make such examination. 

  

	 	2.	Tenant shall have the right to make such examination no more than once in respect of any period in which Landlord has given Tenant a statement of the actual amount of Operating
Costs. 

  

	 	3.	Any request for examination in respect of any Operating Year may be made no more than ninety (90) days after Landlord advises Tenant of the actual amount of Operating Costs in
respect of such period. 

  

	 	4.	Such examination may be made only by a national recognized independent certified public accounting firm who is not paid on a contingent fee basis. 

  

	 	5.	As a condition to performing any such examination, Tenant and its examiners shall be required to execute and deliver to Landlord an agreement, in form acceptable to Landlord,
agreeing to keep confidential any information which it discovers about Landlord or the Building in connection with such examination. Without limiting the foregoing, such examiners shall be required to agree that they will not represent any other
tenant in the Building or the Complex with respect to Operating Costs. 

  

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 9.7 Survival. Any obligations under this Article 9 which shall not have been paid at the
expiration or sooner termination of the term of this Lease shall survive such expiration and shall be paid when and as the amount of same shall be determined to be due. 
  
 10. CHANGES OR ALTERATIONS BY LANDLORD 
  
 Landlord reserves the right, exercisable by itself or its nominee, at any time and from time to time without the same constituting an actual or
constructive eviction and without incurring any liability to Tenant therefor or otherwise affecting Tenant’s obligations under this Lease, to make such changes, alterations, additions, improvements, repairs or replacements in or to: (i) the
Building (including the premises) and the fixtures and equipment thereof, (ii) the street entrances, halls, passages, elevators, escalators, and stairways of the Building, and (iii) the Common Areas, and facilities located therein, as Landlord may
deem necessary or desirable, and to change the arrangement and/or location of entrances or passageways, doors and doorways, and corridors, elevators, stairs, toilets, or other public parts of the Building and/or the Common Areas, provided, however,
that there be no unreasonable obstruction of the right of access to, or unreasonable interference with the use and enjoyment of, the premises by Tenant. Nothing contained in this Article 10 shall be deemed to relieve Tenant of any duty, obligation
or liability of Tenant with respect to making any repair, replacement or improvement or complying with any law, order or requirement of any governmental or other authority. Landlord reserves the right to adopt and at any time and from time to time
to change the name or address of the Building. Landlord shall provide Tenant reasonable prior notice of any such change in name or address. Neither this Lease nor any use by Tenant shall give Tenant any right or easement for the use of any door,
passage, concourse, walkway or parking area within the Building or in the Common Areas, and the use of such doors, passages, concourses, walkways, parking areas and such conveniences may be regulated or discontinued at any time and from time to time
by Landlord without notice to Tenant and without affecting the obligation of Tenant hereunder or incurring any liability to Tenant therefor, provided, however, that there be no unreasonable obstruction of the right of access to, or unreasonable
interference with the use of the premises by Tenant. 
  
 If at any
time any windows of the premises are temporarily closed or darkened for any reason whatsoever including but not limited to, Landlord’s own acts, Landlord shall not be liable for any damage Tenant may sustain thereby and Tenant shall not be
entitled to any compensation therefor nor abatements of rent nor shall the same release Tenant from its obligations hereunder nor constitute an eviction. 
  
 11. FIXTURES, EQUIPMENT AND IMPROVEMENTS—REMOVAL BY TENANT 
  
 All fixtures, equipment, improvements and appurtenances attached to or built into the premises prior to or during the term, whether by Landlord at its
expense or at the expense of Tenant (either or both) or by Tenant (other than trade fixtures and moveable equipment installed by Tenant) shall be and remain part of the premises and shall not be removed by Tenant during or at the end of the term
unless Landlord otherwise elects to require Tenant to remove such fixtures, equipment, improvements and appurtenances, in accordance with Articles 12 and/or 22 of the Lease. All electric, telephone wires (but not handsets or other equipment),
telegraph, communication, radio, plumbing, heating and sprinkling systems, fixtures and outlets, vaults, paneling, molding, shelving, radiator enclosures, cork, rubber, linoleum and composition floors, ventilating, silencing, air conditioning and
cooling equipment, shall be deemed to be included in such fixtures, equipment, improvements and appurtenances, whether or not attached to or built into the premises. Where not built into the premises, all removable electric fixtures, carpets,
drinking or tap water facilities, furniture, or trade fixtures, laboratory equipment or business equipment or Tenant’s inventory or stock in trade shall not be deemed to be included in such fixtures, equipment, improvements and appurtenances
and may be, and upon the request of Landlord will be, removed by Tenant upon the condition that such removal shall not materially damage the premises or the Building and that the cost of repairing any damage to the premises or the Building arising
from installation or such removal shall be paid by Tenant. 
  

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 12. ALTERATIONS AND IMPROVEMENTS BY TENANT 
  
 Tenant shall make no alterations, decorations, installations, removals, additions or improvements in or to the premises
without Landlord’s prior written consent made by contractors or mechanics approved by Landlord. No installations or work shall be undertaken or begun by Tenant until: (i) Landlord has approved written plans and specifications and a time
schedule for such work; (ii) Tenant has made provision for either written waivers of liens from all contractors, laborers and suppliers of materials for such installations or work, the filing of lien bonds on behalf of such contractors, laborers and
suppliers, or other appropriate protective measures approved by Landlord; and (iii) with respect to any work, the cost of which exceeds $100,000.00, Tenant has procured appropriate surety payment and performance bonds. Notwithstanding the foregoing,
Tenant shall have the right, without obtaining Landlord’s prior written consent, to make interior decorations within the premises which are not visible outside of the premises, provided that Tenant gives Landlord at least fifteen (15) business
days prior written notice of such work. No amendments or additions to such plans and specifications shall be made without the prior written consent of Landlord. Landlord’s consent and approval required under this Article 12 shall not be
unreasonably withheld. Landlord’s approval is solely given for the benefit of Landlord and neither Tenant nor any third party shall have the right to rely upon Landlord’s approval of Tenant’s plans for any purpose whatsoever. Without
limiting the foregoing, Tenant shall be responsible for all elements of the design of Tenant’s plans (including, without limitation, compliance with law, functionality of design, the structural integrity of the design, the configuration of the
premises and the placement of Tenant’s furniture, appliances and equipment), and Landlord’s approval of Tenant’s plans shall in no event relieve Tenant of the responsibility for such design. Landlord shall have no liability or
responsibility for any claim, injury or damage alleged to have been caused by the particular materials, whether building standard or non-building standard, appliances or equipment selected by Tenant in connection with any work performed by or on
behalf of Tenant in the premises including, without limitation, furniture, carpeting, copiers, laser printers, computers and refrigerators. Any such work, alterations, decorations, installations, removals, additions and improvements shall be done at
Tenant’s sole expense and at such times and in such manner as Landlord may from time to time designate. If Tenant shall make any alterations, decorations, installations, removals, additions or improvements then Landlord may elect to require the
Tenant at the expiration or sooner termination of the term of this Lease to restore the premises to substantially the same condition as existed at the Term Commencement Date. Tenant shall pay, as an additional charge, the entire increase in real
estate taxes on the Building which shall, at any time prior to or after the Term Commencement Date, result from or be directly attributable to any alteration, addition or improvement to the premises made by or for the account of Tenant. 

 
 13. TENANT’S CONTRACTORS—MECHANICS’ AND OTHER LIENS—STANDARD OF
TENANT’S PERFORMANCE—COMPLIANCE WITH LAWS 
  
 Whenever Tenant shall make any alterations, decorations, installations, removals, additions or improvements in or to the premises—whether such work be done prior to or after the Term Commencement Date—Tenant will strictly observe
the following covenants and agreements: 
  
 (a) Tenant agrees
that it will not, either directly or indirectly, use any contractors and/or materials if their use will create any difficulty, whether in the nature of a labor dispute or otherwise, with other contractors and/or labor engaged by Tenant or Landlord
or others in the construction, maintenance and/or operation of the Building or any part thereof. 
  
 (b) In no event shall any material or equipment be incorporated in or added to the premises, so as to become a fixture or otherwise a part of the
Building, in connection with any such alteration, decoration, installation, addition or improvement which is subject to any lien, charge, mortgage or other encumbrance of any kind whatsoever or is subject to any security interest or any form of
title 
  

 -17- 

 retention agreement. No installations or work shall be undertaken or begun by Tenant until (i) Tenant has made provision
for written waiver of liens from all contractors, laborers and suppliers of materials for such installations or work, and taken other appropriate protective measures approved by Landlord; and (ii) Tenant has procured appropriate surety payment and
performance bonds which shall name Landlord as an additional obligee and has filed lien bond(s) (in jurisdictions where available) on behalf of such contractors, laborers and suppliers. Any mechanic’s lien filed against the premises or the
Building for work claimed to have been done for, or materials claimed to have been furnished to, Tenant shall be discharged by Tenant within ten (10) days thereafter, at Tenant’s expense by filing the bond required by law or otherwise. If
Tenant fails so to discharge any lien, Landlord may do so at Tenant’s expense and Tenant shall reimburse Landlord for any expense or cost incurred by Landlord in so doing within fifteen (15) days after rendition of a bill therefor. 

 
 (c) All installations or work done by Tenant shall be at its own expense
and shall at all times comply with (i) laws, rules, orders and regulations of governmental authorities having jurisdiction thereof; (ii) orders, rules and regulations of any Board of Fire Underwriters, or any other body hereafter constituted
exercising similar functions, and governing insurance rating bureaus; (iii) Rules and Regulations of Landlord; and (iv) plans and specifications prepared by and at the expense of Tenant theretofore submitted to and approved by Landlord. 

 
 (d) Tenant shall procure all necessary permits before undertaking any work
in the premises; do all of such work in a good and workmanlike manner, employing materials of good quality and complying with all governmental requirements; and defend, save harmless, exonerate and indemnify Landlord from all injury, loss or damage
to any person or property occasioned by or growing out of such work. Tenant shall cause contractors employed by Tenant to carry Worker’s Compensation Insurance in accordance with statutory requirements, Automobile Liability Insurance and,
naming Landlord as an additional insured, Commercial General Liability Insurance covering such contractors on or about the premises in the amounts stated in Article 15 hereof or in such other reasonable amounts as Landlord shall require and to
submit certificates evidencing such coverage to Landlord prior to the commencement of such work. 
  
 14. REPAIRS BY TENANT—FLOOR LOAD 
  
 14.1 Repairs by Tenant. Tenant shall keep all and singular the premises neat and clean (including periodic rug shampoo and waxing of tiled floors and cleaning of blinds and drapes) and in such repair, order and
condition as the same are in on the Term Commencement Date or may be put in during the term hereof, reasonable use and wearing thereof and damage by fire or by other casualty excepted. Tenant shall be solely responsible for the proper maintenance of
all equipment and appliances operated by Tenant, including, without limitation, copiers, laser printers, computers and refrigerators. Tenant shall be responsible for janitorial services to be provided to any bathrooms located within the premises.
Tenant shall make, as and when needed as a result of misuse by, or neglect or improper conduct of, Tenant or Tenant’s servants, employees, agents, contractors, invitees, or licensees or otherwise, all repairs in and about the premises necessary
to preserve them in such repair, order and condition, which repairs shall be in quality and class equal to the original work. Landlord may elect, at the expense of Tenant, to make any such repairs or to repair any damage or injury to the Building or
the premises caused by moving property of Tenant in or out of the Building, or by installation or removal of furniture or other property, or by misuse by, or neglect, or improper conduct of, Tenant or Tenant’s servants, employees, agents,
contractors, or licensees. Notwithstanding the foregoing, Tenant shall not be responsible for any damage or repairs required due to the negligence of Landlord or its agents. 
  
 14.2 Floor Load—Heavy Machinery. Tenant shall not place a load upon any floor of the premises exceeding the
floor load per square foot of area which such floor was designed to carry and which is allowed by law. Landlord reserves the right to prescribe the weight and position of all business machines and mechanical equipment, including safes, which shall
be placed so as to distribute the weight. Business machines and mechanical equipment shall be placed and maintained by Tenant at Tenant’s expense in 
  

 -18- 

 settings sufficient in Landlord’s judgment to absorb and prevent vibration, noise and annoyance. Tenant shall not
move any safe, heavy machinery, heavy equipment, freight, bulky matter, or fixtures into or out of the Building without Landlord’s prior written consent. If such safe, machinery, equipment, freight, bulky matter or fixtures requires special
handling, Tenant agrees to employ only persons holding a Master Rigger’s License to do said work, and that all work in connection therewith shall comply with applicable laws and regulations. Any such moving shall be at the sole risk and hazard
of Tenant and Tenant will defend, indemnify and save Landlord harmless against and from any liability, loss, injury, claim or suit resulting directly or indirectly from such moving. Proper placement of all such business machines, etc., in the
premises shall be Tenant’s responsibility. 
  
 15. INSURANCE,
INDEMNIFICATION, EXONERATION AND EXCULPATION 
  
 15.1
General Liability Insurance. Tenant shall procure, and keep in force and pay for Commercial General Liability Insurance insuring Tenant on an occurrence basis against all claims and demands for personal injury liability (including, without
limitation, bodily injury, sickness, disease, and death) or damage to property which may be claimed to have occurred from and after the time Tenant and/or its contractors enter the premises in accordance with Article 4 of this Lease, of not less
than Two Million ($2,000,000) Dollars in the event of personal injury to any number of persons or damage to property, arising out of any one occurrence, and from time to time thereafter shall be not less than such higher amounts, if procurable, as
may be reasonably required by Landlord and are customarily carried by responsible similar tenants in the City or Town wherein the Building is located. 
  
 15.2 Certificates of Insurance. Such insurance shall be effected with insurers approved by Landlord, such approval not be unreasonably withheld,
authorized to do business in the State wherein the Building is situated under valid and enforceable policies wherein Tenant names Landlord and Landlord’s managing agent as additional insureds. Such insurance shall provide that it shall not be
canceled or modified without at least thirty (30) days’ prior written notice to each insured named therein. On or before the time Tenant and/or its contractors enter the premises in accordance with Articles 4 and 14 of this Lease and thereafter
not less than fifteen (15) days prior to the expiration date of each expiring policy, original copies of the policies provided for in Article 15.1 issued by the respective insurers, or certificates of such policies setting forth in full the
provisions thereof and issued by such insurers together with evidence satisfactory to Landlord of the payment of all premiums for such policies, shall be delivered by Tenant to Landlord and certificates as aforesaid of such policies shall upon
request of Landlord, be delivered by Tenant to the holder of any mortgage affecting the premises. 
  
 15.3 General. Tenant will save Landlord, its agents and employees, harmless and will exonerate, defend and indemnify Landlord, its agents and
employees, from and against any and all claims, liabilities or penalties asserted by or on behalf of any person, firm, corporation or public authority arising from the Tenant’s breach of the Lease or: 
  
 (a) On account of or based upon any injury to person, or loss of or damage
to property, sustained or occurring on the premises on account of or based upon the act, omission, fault, negligence or misconduct of any person whomsoever (except to the extent the same is caused by Landlord, its agents, contractors or employees);

  
 (b) On account of or based upon any injury to person, or loss
of or damage to property, sustained or occurring elsewhere (other than on the premises) in or about the Building (and, in particular, without limiting the generality of the foregoing, on or about the elevators, stairways, public corridors,
sidewalks, concourses, arcades, malls, galleries, vehicular tunnels, approaches, areaways, roof, or other appurtenances and facilities used in connection with the Building or premises) arising out of the use or occupancy of the Building or premises
by the Tenant, or by any person claiming by, through or under Tenant, or on account of or based upon the act, omission, fault, negligence or misconduct of Tenant, its agents, employees or contractors; and 
  

 -19- 

 (c) On account of or based upon (including monies due on account of) any work or thing whatsoever done
(other than by Landlord or its contractors, or agents or employees of either) on the premises during the term of this Lease and during the period of time, if any, prior to the Term Commencement Date that Tenant may have been given access to the
premises. 
  
 (d) Tenant’s obligations under this Article
15.3 shall be insured either under the Commercial General Liability Insurance required under Article 15.1, above, or by a contractual insurance rider or other coverage; and certificates of insurance in respect thereof shall be provided by Tenant to
Landlord upon request. 
  
 15.3A Landlord’s Indemnity of
Tenant.. Landlord, subject to the limitations on Landlord’s liability contained elsewhere in this Lease, will save Tenant, its agents and employees, harmless and to defend, exonerate and indemnify Tenant from and against any and all
claims, liabilities, or penalties asserted by or on behalf of any third party for damage to property or injuries to persons sustained or occurring in the Building (and, in particular, without limiting the generality of the foregoing, on or about the
elevators, stairways, public corridors, sidewalks, concourses, arcades, malls, galleries, vehicular tunnels, approaches, areaways, roof, or other appurtenances and facilities used in connection with the Building or the premises) to the extent
arising from the negligence or willful misconduct of Landlord or Landlord’s agents, employees or contractors. 
  
 15.4 Property of Tenant. In addition to and not in limitation of the foregoing, Tenant covenants and agrees that, to the maximum extent permitted
by law, all merchandise, furniture, fixtures and property of every kind, nature and description related or arising out of Tenant’s leasehold estate hereunder, which may be in or upon the premises or Building, in the public corridors, or on the
sidewalks, areaways and approaches adjacent thereto, shall be at the sole risk and hazard of Tenant, and that if the whole or any part thereof shall be damaged, destroyed, stolen or removed from any cause or reason whatsoever no part of said damage
or loss shall be charged to, or borne by, Landlord. 
  
 15.5
Bursting of Pipes, etc. Landlord shall not be liable for any injury or damage to persons or property resulting from fire, explosion, falling plaster, steam, gas, air contaminants or emissions, electricity, electrical or electronic emanations or
disturbance, water, rain or snow or leaks from any part of the Building or from the pipes, appliances, equipment or plumbing works or from the roof, street or sub-surface or from any other place or caused by dampness, vandalism, malicious mischief
or by any other cause of whatever nature, unless caused by or due to the negligence of Landlord, its agents, servants or employees, and then only after (i) notice to Landlord of the condition claimed to constitute negligence and (ii) the expiration
of a reasonable time after such notice has been received by Landlord without Landlord having taken all reasonable and practicable means to cure or correct such condition; and pending such cure or correction by Landlord, Tenant shall take all
reasonably prudent temporary measures and safeguards to prevent any injury, loss or damage to persons or property. In no event shall Landlord be liable for any loss, the risk of which is covered by Tenant’s insurance or is required to be so
covered by this Lease; nor shall Landlord or its agents be liable for any such damage caused by other tenants or persons in the Building or caused by operations in construction of any private, public, or quasi-public work; nor shall Landlord be
liable for any latent defect in the premises or in the Building. 
  
 15.6 Repairs and Alterations—No Diminution of Rental Value. A. Except as otherwise provided in Article 18, there shall be no allowance to Tenant for diminution of rental value and no liability on the part of Landlord by reason
of inconvenience, annoyance or injury to Tenant arising from any repairs, alterations, additions, replacements or improvements made by Landlord, or any related work, Tenant or others in or to any portion of the Building or premises or any property
adjoining the Building, or in or to fixtures, appurtenances, or equipment thereof, or for failure of Landlord or others to make any repairs, alterations, additions or improvements in or to any portion of the Building, or of the premises, or in or to
the fixtures, appurtenances or equipment thereof. 
  

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 B. Notwithstanding anything to the contrary in this Lease contained, if due to any such repairs,
alterations, replacements, or improvements made by Landlord or if due to Landlord’s failure to make any repairs, alterations, or improvements required to be made by Landlord, any portion of the premises becomes untenantable so that for the
Premises Untenantability Cure Period, as hereinafter defined, the continued operation in the ordinary course of Tenant’s business is materially adversely affected, then, provided that Tenant ceases to use the affected portion of the premises
during the entirety of the Premises Untenantability Cure Period by reason of such untenantability, and that such untenantability and Landlord’s inability to cure such condition is not caused by the fault or neglect of Tenant or Tenant’s
agents, employees or contractors or causes beyond Landlord’s reasonable control, Yearly Rent, Operating Expense Share and Tax Share shall thereafter be abated in proportion to such untenantability until the day such condition is completely
corrected. For the purposes hereof, the “Premises Untenantability Cure Period” shall be defined as five (5) consecutive business days after Landlord’s receipt of written notice from Tenant of the condition causing untenantability in
the premises. 
  
 C. The provisions of Paragraph B of this Article
15.6 shall not apply in the event of untenantability caused by fire or other casualty, or taking (see Articles 18 and 20). 
  
 D. Notwithstanding anything to the contrary herein contained, if due to such repairs, alterations, replacements or improvements made by Landlord or if due
to Landlord’s failure to make any repairs, alterations or improvements required to be made by Landlord, any material portion of the premises becomes untenantable for a period of eighty (80) consecutive days after Landlord’s receipt of
written notice of such condition from Tenant, then, provided that Tenant ceases to use the affected portion of the premises during the entire period of such untenantability, such untenantability and Landlord’s inability to cure such condition
is not caused by the fault or neglect of Tenant, or Tenant’s agents, employees or contractors, then Tenant may terminate this Lease by giving Landlord written notice as follows: 
  

	 	(a)	Said notice shall be given after said eighty (80) day period. 

  

	 	(b)	Said notice shall set forth an effective date which is not earlier than ten (10) days after Landlord receives said notice. 

  

	 	(c)	If said condition is remedied on or before said effective date, said notice shall have no further force and effect. 

  

	 	(d)	If said condition is not remedied on or before said effective date for any reason other then Tenant’s fault, as aforesaid, the Lease shall terminate as of said effective date,
and the Yearly Rent, escalations and other charges due under the Lease shall be apportioned as of said effective date. 

  
 16. ASSIGNMENT, MORTGAGING AND SUBLETTING 
  
 A. Tenant covenants and agrees that neither this Lease nor the term and estate hereby granted, nor any interest herein or therein, will be assigned,
mortgaged, pledged, encumbered or otherwise transferred, voluntarily, by operation of law or otherwise, and that neither the premises, nor any part thereof will be encumbered in any manner by reason of any act or omission on the part of Tenant, or
used or occupied, or permitted to be used or occupied, or utilized for desk space or for mailing privileges, by anyone other than Tenant, or for any use or purpose other than as stated in Exhibit 1, or be sublet, or offered or advertised for
subletting. Notwithstanding the foregoing, it is hereby expressly understood and agreed however, if Tenant is a corporation, that the assignment or transfer of this Lease, and the term and estate hereby granted, to any subsidiary of Tenant, any
corporation or other entity into which Tenant is merged or with which Tenant is consolidated, or which corporation or other entity acquires all of the stock of Tenant or all or substantially al of the assets of Tenant, which corporation or other
entity shall have a net worth at least equal to that of Tenant immediately prior to such merger, consolidation or acquisition (such corporation or other entity being hereinafter called “Assignee”), shall be permitted without the prior
written 
  

 -21- 

 consent of Landlord, if, and upon the express condition that Assignee and Tenant shall promptly execute, acknowledge and
deliver to Landlord an agreement (“Assumption Agreement”) in form and substance satisfactory to Landlord whereby Assignee shall agree to be independently bound by and upon all the covenants, agreements, terms, provisions and conditions set
forth in this Lease on the part of Tenant to be performed, and whereby Assignee shall expressly agree that the provisions of this Article 16 shall, notwithstanding such assignment or transfer, continue to be binding upon it with respect to all
future assignments and transfers (other than to future Assignees of such Assignee). 
  
 B. Notwithstanding anything to the contrary in the Lease contained: 
  

	 	1.	Tenant shall, prior to offering or advertising the premises, or any portion thereof for sublease or assignment (other than to an Assignee) give Landlord a Recapture Offer, as
hereinafter defined. 

  

	 	2.	For the purposes hereof a “Recapture Offer” shall be defined as a notice in writing from Tenant to Landlord which: 

  

	 	(a)	States that Tenant desires to sublet the premises, or a portion thereof, or to assign its interest in this Lease. 

  

	 	(b)	Identifies the affected portion of the premises (“Recapture Premises”). 

  

	 	(c)	Identifies the period of time (“Recapture Period”) during which Tenant proposes to sublet the Recapture Premises or to assign its interest in the Lease.

  

	 	(d)	Offers to Landlord to terminate the Lease in respect of the Recapture Premises (in the case of a proposed assignment of Tenant’s interest in the Lease or a subletting for the
remainder of the term of the Lease) or to suspend the term of the Lease pro tanto in respect of the Recapture Period (i.e. the term of the Lease in respect of the Recapture Premises shall be terminated during the Recapture Period and
Tenant’s rental obligations shall be reduced in proportion to the ratio of the Total Rentable Area of the Recapture Premises to the Total Rentable Area of the premises then demised to Tenant). 

  

	 	3.	Landlord shall have thirty (30) days to accept a Recapture Offer. If Landlord does not timely give written notice to Tenant accepting a Recapture Offer, then Landlord agrees that it
will not unreasonably withhold or delay its consent to a sublease of the Recapture Premises for the Recapture Period, or an assignment of Tenant’s interest in the Lease, as the case may be, to a Qualified Transferee, as hereinafter defined.

  

	 	4.	For the purposes hereof, a “Qualified Transferee” shall be defined as a person, firm or corporation which, in Landlord’s reasonable opinion: 

 

	 	(a)	is financially responsible and of good reputation; 

  

	 	(b)	is engaged in a business, the functional aspects of which, with respect to the premises, are similar to the use of other premises made by other office space tenants in the Building;
and 

  

 -22- 

	 	(c)	is not a tenant of premises in the Complex. 

  

	 	5.	Notwithstanding anything to the contrary in this Paragraph B contained: 

  

	 	(a)	If Tenant is in default of its obligations under the Lease at the time that it makes the aforesaid offer to Landlord, such default shall be deemed to be a “reasonable”
reason for Landlord withholding its consent to any proposed subletting or assignment; and 

  

	 	(b)	If Tenant does not enter into a sublease with a subtenant (or an assignment to an assignee, as the case may be) approved by Landlord, as aforesaid, on or before the date which is
one hundred twenty (120) days after the earlier of: (x) the expiration of said thirty (30) day period, or (y) the date that Landlord notifies Tenant that Landlord will not accept Tenant’s offer to terminate or suspend the Lease, then Landlord
shall have the right arbitrarily to withhold its consent to any subletting or assignment proposed to be entered into by Tenant after the expiration of said one hundred twenty (120) day period unless Tenant again offers, in accordance with this
Paragraph B, either to terminate or to suspend the Lease in respect of the portion of the premises proposed to be sublet (or in respect of the entirety of the premises in the event of a proposed assignment, as the case may be). If Tenant shall make
any subsequent offers to terminate or suspend the Lease pursuant to this Paragraph B, any such subsequent offers shall be treated in all respects as if it is Tenant’s first offer to suspend or terminate the Lease pursuant to this Paragraph B,
provided that the period of time Landlord shall have in which to accept or reject such subsequent offer shall be thirty (30) days. 

  

	 	6.	Notwithstanding anything to the contrary herein contained, Tenant shall have no right, under this Paragraph B hereof, prior to the date one (1) year after the Term Commencement
Date. Without limiting the foregoing, Tenant shall have no right to give Landlord a Recapture Offer prior to the date one (1) year after the Term Commencement Date. 

  

	 	7.	No subletting or assignment shall relieve Tenant of its primary obligation as party-Tenant hereunder, nor shall it reduce or increase Landlord’s obligations under the Lease.

  

	 	8.	The provisions of this Article 16B shall not apply to an assignment to an Assignee permitted under Article 16A. 

  
 C. If Tenant is an individual who uses and/or occupies the premises with
partners, or if Tenant is a partnership, then: 
  
 (i) Each
present and future partner shall be personally bound by and upon all of the covenants, agreements, terms, provisions and conditions set forth in this Lease on the part of Tenant to be performed; and 
  

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 (ii) In confirmation of the foregoing, Landlord may (but without being required to do so) request (and
Tenant shall duly comply) that Tenant, at the time that Tenant admits any new partner to its partnership, shall require each such new partner to execute an agreement in form and substance satisfactory to Landlord whereby such new partner shall agree
to be personally bound by and upon all of the covenants, agreements, terms, provisions and conditions of this Lease on the part of Tenant to be performed, without regard to the time when such new partner is admitted to partnership or when any
obligations under any such covenants, etc., accrue. 
  
 D. The
listing of any name other than that of Tenant, whether on the doors of the premises or on the Building directory, or otherwise, shall not operate to vest in any such other person, firm or corporation any right or interest in this Lease or in the
premises or be deemed to effect or evidence any consent of Landlord, it being expressly understood that any such listing is a privilege extended by Landlord revocable at will by written notice to Tenant. 
  
 E. If this Lease be assigned, or if the premises or any part thereof be
sublet or occupied by anybody other than Tenant, Landlord may, at any time and from time to time, collect rent and other charges from the assignee, subtenant or occupant, and apply the net amount collected to the rent and other charges herein
reserved then due and thereafter becoming due, but no such assignment, subletting, occupancy or collection shall be deemed a waiver of this covenant, or the acceptance of the assignee, subtenant or occupant as a tenant, or a release of Tenant from
the further performance by Tenant of covenants on the part of Tenant herein contained. Any consent by Landlord to a particular assignment or subletting shall not in any way diminish the prohibition stated in the first sentence of this Article 16 or
the continuing liability of the Tenant named on Exhibit 1 as the party Tenant under this Lease. No assignment or subletting shall affect the purpose for which the premises may be used as stated in Exhibit 1. 
  
 F. Notwithstanding anything to the contrary herein contained, Tenant shall
have the right, without obtaining Landlord’s consent and without giving Landlord a Recapture Offer, to assign its interest in this Lease and to sublease the premises, or any portion thereof, to an Affiliated Entity, as hereinafter defined, so
long as such entity remains in such relationship to Tenant, and provided that prior to or simultaneously with such assignment or sublease, such Affiliated Entity executes and delivers to Landlord an Assumption Agreement, as hereinabove defined. For
the purposes hereof, an “Affiliated Entity” shall be defined as any entity which is controlled by, is under common control with, or which controls Tenant. For the purposes hereof, control shall mean the direct or indirect ownership of more
than fifty (50%) percent of the beneficial interest of the entity in question. 
  
 G. In the event of an assignment of this Lease or a sublease of the premises or any portion thereof to anyone other than an Affiliated Entity or an Assignee, Tenant shall pay to Landlord fifty (50%) percent of any Net
Sublease Profits (as defined below), payable in accordance with the following. In the case of an assignment of this Lease, “Net Sublease Profit”: (1) shall be defined as a lump sum in the amount (if any) by which any consideration paid by
the assignee in consideration of or as an inducement to Tenant to make said assignment exceeds the reasonable attorneys’ fees, construction costs and brokerage fees incurred by Tenant in order to effect such assignment (collectively,
“Sublease Expenses”), and (2) shall be payable concurrently with the payment to be made by the assignee to Tenant. In the case of a sublease, “Net Sublease Profit”: (3) shall be defined as a monthly amount equal to the amount by
which the sublease rent and other charges payable by the subtenant to Tenant under the sublease exceed the sum of the rent and other charges payable under this Lease for the premises or allocable to the sublet portion thereof, plus a monthly amount
equal to the Sublease Expenses divided by the number of months in the term of the sublease, and (4) shall be payable on a monthly basis concurrently with the subtenant’s payment of rent to Tenant under the sublease. 
  

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 17. MISCELLANEOUS COVENANTS 
  
 Tenant covenants and agrees as follows: 
  
 17.1 Rules and Regulations. Tenant will faithfully observe and comply with the Rules and Regulations, if any, annexed
hereto and such other and further reasonable Rules and Regulations as Landlord hereafter at any time or from time to time may make and may communicate in writing to Tenant, which in the reasonable judgment of Landlord shall be necessary for the
reputation, safety, care or appearance of the Building, or the preservation of good order therein, or the operation or maintenance of the Building, or the equipment thereof, or the comfort of tenants or others in the Building, provided, however,
that in the case of any conflict between the provisions of this Lease and any such regulations, the provisions of this Lease shall control, and provided further that nothing contained in this Lease shall be construed to impose upon Landlord any duty
or obligation to enforce the Rules and Regulations or the terms, covenants or conditions in any other lease as against any other tenant and Landlord shall not be liable to Tenant for violation of the same by any other tenant, its servants,
employees, agents, contractors, visitors, invitees or licensees. 
  
 17.2 Access to Premises—Shoring. Tenant shall: (i) permit Landlord to erect, use and maintain pipes, ducts and conduits in and through the premises, provided the same do not materially reduce the floor area or materially
adversely affect the appearance thereof; (ii) upon prior oral notice (except that no notice shall be required in emergency situations), permit Landlord and any mortgagee of the Building or the Building and land or of the interest of Landlord
therein, and any lessor under any ground or underlying lease, and their representatives, to have free and unrestricted access to and to enter upon the premises at all reasonable hours for the purposes of inspection or of making repairs, replacements
or improvements in or to the premises or the Building or equipment (including, without limitation, sanitary, electrical, heating, air conditioning or other systems) or of complying with all laws, orders and requirements of governmental or other
authority or of exercising any right reserved to Landlord by this Lease (including the right during the progress of any such repairs, replacements or improvements or while performing work and furnishing materials in connection with compliance with
any such laws, orders or requirements to take upon or through, or to keep and store within, the premises all necessary materials, tools and equipment); and (iii) permit Landlord, at reasonable times, to show the premises during ordinary business
hours to any existing or prospective mortgagee, ground lessor, space lessee, purchaser, or assignee of any mortgage, of the Building or of the Building and the land or of the interest of Landlord therein, and during the period of 12 months next
preceding the Termination Date to any person contemplating the leasing of the premises or any part thereof. If, during the last month of the term, Tenant shall have removed all or substantially all of Tenant’s property therefrom, Landlord may
immediately enter and alter, renovate and redecorate the premises, without elimination or abatement of rent, or incurring liability to Tenant for any compensation, and such acts shall have no effect upon this Lease. If Tenant shall not be personally
present to open and permit an entry into the premises at any time when for any reason an entry therein shall be necessary or permissible, Landlord or Landlord’s agents may enter the same by a master key, or may forcibly enter the same, without
rendering Landlord or such agents liable therefor (if during such entry Landlord or Landlord’s agents shall accord reasonable care to Tenant’s property), and without in any manner affecting the obligations and covenants of this Lease.
Provided that Landlord shall incur no additional expense thereby, Landlord shall exercise its rights of access to the premises permitted under any of the terms and provisions of this Lease in such manner as to minimize to the extent practicable
interference with Tenant’s use and occupation of the premises. If an excavation shall be made upon land adjacent to the premises or shall be authorized to be made, Tenant shall afford to the person causing or authorized to cause such
excavation, license to enter upon the premises for the purpose of doing such work as said person shall deem necessary to preserve the Building from injury or damage and to support the same by proper foundations without any claims for damages or
indemnity against Landlord, or diminution or abatement of rent. 
  
 17.3 Accidents to Sanitary and Other Systems. Tenant shall give to Landlord prompt notice of any fire or accident in the premises or in the Building and of any damage to, or defective condition in, any part or appurtenance of the
Building including, without limitation, sanitary, electrical, ventilation, 
  

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 heating and air conditioning or other systems located in, or passing through, the premises. Except as otherwise provided
in Articles 18 and 20, and subject to Tenant’s obligations in Article 14, such damage or defective condition shall be remedied by Landlord with reasonable diligence, but if such damage or defective condition was caused by Tenant or by the
employees, licensees, contractors or invitees of Tenant, the cost to remedy the same shall be paid by Tenant. In addition, all reasonable costs incurred by Landlord in connection with the investigation of any notice given by Tenant shall be paid by
Tenant if the reported damage or defective condition was caused by Tenant or by the employees, licensees, contractors, or invitees of Tenant. Except as set forth in Articles 8.8 and 15.6, Tenant shall not be entitled to claim any eviction from the
premises or any damages arising from any such damage or defect unless the same (i) shall have been occasioned by the negligence of the Landlord, its agents, servants or employees and (ii) shall not, after notice to Landlord of the condition claimed
to constitute negligence, have been cured or corrected within a reasonable time after such notice has been received by Landlord; and in case of a claim of eviction unless such damage or defective condition shall have rendered the premises
untenantable and they shall not have been made tenantable by Landlord within a reasonable time. 
  
 17.4 Signs, Blinds and Drapes. Tenant shall put no signs in any part of the Building. No signs or blinds may be put on or in any window or
elsewhere if visible from the exterior of the Building, nor may the building standard drapes or blinds be removed by Tenant. Tenant may hang its own drapes, provided that they shall not in any way interfere with the building standard drapery or
blinds or be visible from the exterior of the Building and that such drapes are so hung and installed that when drawn, the building standard drapery or blinds are automatically also drawn. Any signs or lettering in the public corridors or on the
doors shall conform to Landlord’s building standard design. Neither Landlord’s name, nor the name of the Building or any Center, Office Park or other Park of which the Building is a part, or the name of any other structure erected therein
shall be used without Landlord’s consent in any advertising material (except on business stationery or as an address in advertising matter), nor shall any such name, as aforesaid, be used in any undignified, confusing, detrimental or misleading
manner. 
  
 17.5 Estoppel Certificate. Tenant shall at any
time and from time to time upon not less than ten (10) days’ prior written notice by Landlord to Tenant, execute, acknowledge and deliver to Landlord a statement in writing certifying that this Lease is unmodified and in full force and effect
(or if there have been modifications, that the same is in full force and effect as modified and stating the modifications), and the dates to which the Yearly Rent and other charges have been paid in advance, if any, stating whether or not Landlord
is in default in performance of any covenant, agreement, term, provision or condition contained in this Lease and, if so, specifying each such default and such other facts as Landlord may reasonably request, it being intended that any such statement
delivered pursuant hereto may be relied upon by any prospective purchaser of the Building or of the Building and the land or of any interest of Landlord therein, any mortgagee or prospective mortgagee thereof, any lessor or prospective lessor
thereof, any lessee or prospective lessee thereof, or any prospective assignee of any mortgage thereof. Time is of the essence in respect of any such requested certificate, Tenant hereby acknowledging the importance of such certificates in mortgage
financing arrangements, prospective sale and the like. Tenant hereby appoints Landlord Tenant’s attorney-in-fact in its name and behalf to execute such statement if Tenant shall fail to execute such statement within such ten-(10)-day period.

  
 17.6 Prohibited Materials and Property. Tenant shall
not bring or permit to be brought or kept in or on the premises or elsewhere in the Building (i) any materials, appliances or equipment (including, without limitation, materials, appliances and equipment selected by Tenant for the construction or
other preparation of the premises and furniture and carpeting) which pose any danger to life, safety or health or may reasonably be expected to cause damage, injury or death; (ii) any unique, unusually valuable, rare or exotic property, work of art
or the like unless the same is fully insured under all-risk coverage, or (iii) any data processing, electronic, optical or other equipment or property of a delicate, fragile or vulnerable nature unless the same are housed, shielded and protected
against harm and damage, whether by cleaning or maintenance personnel, radiations or emanations from other equipment now or hereafter installed in the Building, or otherwise. Nor shall Tenant cause or permit any potentially harmful air emissions,
odors of cooking or other processes, or any unusual or other objectionable odors or emissions to emanate from or permeate the premises. 
  

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 17.7 Requirements of Law—Fines and Penalties. Tenant at its sole expense shall comply with
all laws, rules, orders and regulations, including, without limitation, all energy-related requirements, of Federal, State, County and Municipal authorities and with any direction of any public officer or officers, pursuant to law, which shall
impose any duty upon Landlord or Tenant with respect to or arising out of Tenant’s use or occupancy of the premises. Tenant shall reimburse and compensate Landlord for all expenditures made by, or damages or fines sustained or incurred by,
Landlord due to nonperformance or noncompliance with or breach or failure to observe any item, covenant, or condition of this Lease upon Tenant’s part to be kept, observed, performed or complied with. If Tenant receives notice of any violation
of law, ordinance, order or regulation applicable to the premises, it shall give prompt notice thereof to Landlord. 
  
 17.8 Tenant’s Acts—Effect on Insurance. Tenant shall not do or permit to be done any act or thing upon the premises or elsewhere in the
Building which will invalidate or be in conflict with any insurance policies covering the Building and the fixtures and property therein; and shall not do, or permit to be done, any act or thing upon the premises which shall subject Landlord to any
liability or responsibility for injury to any person or persons or to property by reason of any business or operation being carried on upon said premises or for any other reason. Tenant at its own expense shall comply with all rules, orders,
regulations and requirements of the Board of Fire Underwriters, or any other similar body having jurisdiction, and shall not (i) do, or permit anything to be done, in or upon the premises, or bring or keep anything therein, except as now or
hereafter permitted by the Fire Department, Board of Underwriters, Fire Insurance Rating Organization, or other authority having jurisdiction, and then only in such quantity and manner of storage as will not increase the rate for any insurance
applicable to the Building, or (ii) use the premises in a manner which shall increase such insurance rates on the Building, or on property located therein, over that applicable when Tenant first took occupancy of the premises hereunder. If by reason
of the failure of Tenant to comply with the provisions hereof the insurance rate applicable to any policy of insurance shall at any time thereafter be higher than it otherwise would be, the Tenant shall reimburse Landlord for that part of any
insurance premiums thereafter paid by Landlord, which shall have been charged because of such failure by Tenant. 
  
 17.9 Miscellaneous. Tenant shall not suffer or permit the premises or any fixtures, equipment or utilities therein or serving the same, to be
overloaded, damaged or defaced, nor permit any hole to be drilled or made in any part thereof. Tenant shall not suffer or permit any employee, contractor, business invitee or visitor to violate any covenant, agreement or obligations of the Tenant
under this Lease. 
  
 18. DAMAGE BY FIRE, ETC. 
  
 A. During the entire term of this Lease, and adjusting insurance coverages
to reflect current values from time to time:—(i) Landlord shall keep the Building and any other property installed by or at the expense of Tenant) insured against loss or damage caused by any peril covered under fire, extended coverage and all
risk insurance in an amount equal to one hundred percent (100%) replacement cost value above foundation walls; and (ii) Tenant shall keep its personal property in and about the premises insured against loss or damage caused by any peril covered
under fire, extended coverage and all risk insurance in an amount equal to one hundred percent (100%) replacement cost value. Such Tenant’s insurance shall insure the interests of both Landlord and Tenant as their respective interests may
appear from time to time and shall name Landlord as an additional insured; and the proceeds thereof shall be used only for the replacement or restoration of such personal property. 
  
 B. If any portion of the premises required to be insured by Landlord under the preceding paragraph shall be damaged by fire
or other insured casualty, Landlord shall proceed with diligence, subject to the then applicable statutes, building codes, zoning ordinances, and regulations of any governmental authority, and at the expense of Landlord (but only to the extent of
insurance proceeds made available to 
  

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 Landlord by any mortgagee and/or ground lessor of the real property of which the premises are a part) to repair or cause
to be repaired such damage, that such repairs to such Tenant’s alterations, decorations, additions and improvements shall be performed by Landlord but at Tenant’s expense; in all other respects, all repairs to and replacements of
Tenant’s property shall be made by and at the expense of Tenant. If the premises or any part thereof shall have been rendered unfit for use and occupation hereunder by reason of such damage the Yearly Rent or a just and proportionate part
thereof, according to the nature and extent to which the premises shall have been so rendered unfit, shall be suspended or abated until the premises (except as to the property which is to be repaired by or at the expense of Tenant) shall have been
restored as nearly as practicably may be to the condition in which they were immediately prior to such fire or other casualty, provided, however, that if Landlord or any mortgagee of the Building or of the Building and the land shall be unable to
collect the insurance proceeds (including rent insurance proceeds) applicable to such damage because of some action or inaction on the part of Tenant, or the employees, licensees or invitees of Tenant, the cost of repairing such damage shall be paid
by Tenant and there shall be no abatement of rent. Landlord shall not be liable for delays in the making of any such repairs which are due to government regulation, casualties and strikes, unavailability of labor and materials, and other causes
beyond the reasonable control of Landlord, nor shall Landlord be liable for any inconvenience or annoyance to Tenant or injury to the business of Tenant resulting from delays in repairing such damage. If (i) the premises are so damaged by fire or
other casualty (whether or not insured) at any time during the last thirty months of the term hereof that the cost to repair such damage is reasonably estimated to exceed one third of the total Yearly Rent payable hereunder for the period from the
estimated date of restoration until the Termination Date, or (ii) the Building (whether or not including any portion of the premises) is so damaged by fire or other casualty (whether or not insured) that substantial alteration or reconstruction or
demolition of the Building shall in Landlord’s judgment be required, then and in either of such events, this Lease and the term hereof may be terminated at the election of Landlord by a notice in writing of its election so to terminate which
shall be given by Landlord to Tenant within sixty (60) days following such fire or other casualty, the effective termination date of which shall be not less than thirty (30) days after the day on which such termination notice is received by Tenant.
In the event of any termination, this Lease and the term hereof shall expire as of such effective termination date as though that were the Termination Date as stated in Exhibit 1 and the Yearly Rent shall be apportioned as of such date; and if the
premises or any part thereof shall have been rendered unfit for use and occupation by reason of such damage the Yearly Rent for the period from the date of the fire or other casualty to the effective termination date, or a just and proportionate
part thereof, according to the nature and extent to which the premises shall have been so rendered unfit, shall be abated. 
  
 C. In the event that the premises or the Building are damaged by fire or other casualty to such an extent so as to render the premises untenantable, and
if Landlord shall fail to substantially complete said repairs or restoration within one hundred fifty (150) days after the date of such fire or other casualty for any reason other than Tenant’s fault, Tenant may terminate this Lease by giving
Landlord written notice as follows: 
  

	 	(1)	Said notice shall be given after said one hundred fifty day period. 

  

	 	(2)	Said notice shall set forth an effective date which is not earlier than thirty (30) days after Landlord receives said notice. 

  

	 	(3)	If said repairs or restoration are substantially complete on or before the date thirty (30) days (which thirty-(30)-day period shall be extended by the length of any delays caused
by Tenant or Tenant’s contractors) after Landlord receives such notice, said notice shall have no further force and effect. 

  

	 	(4)	If said repairs or restoration are not substantially complete on or before the date thirty (30) days (which thirty-(30)-day period shall be extended by the length of any delays
caused by Tenant or Tenant’s contractors) after Landlord receives such notice, the Lease shall terminate as of said effective date. 

  

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 19. WAIVER OF SUBROGATION 
  
 In any case in which Tenant shall be obligated to pay to Landlord any loss, cost, damage, liability, or expense suffered or
incurred by Landlord, Landlord shall allow to Tenant as an offset against the amount thereof (i) the net proceeds of any insurance collected by Landlord for or on account of such loss, cost, damage, liability or expense, provided that the allowance
of such offset does not invalidate or prejudice the policy or policies under which such proceeds were payable, and (ii) if such loss, cost, damage, liability or expense shall have been caused by a peril against which Landlord has agreed to procure
insurance coverage under the terms of this Lease, the amount of such insurance coverage, whether or not actually procured by Landlord. 
  
 In any case in which Landlord or Landlord’s managing agent shall be obligated to pay to Tenant any loss, cost, damage, liability or expense suffered
or incurred by Tenant, Tenant shall allow to Landlord or Landlord’s managing agent, as the case may be, as an offset against the amount thereof (i) the net proceeds of any insurance collected by Tenant for or on account of such loss, cost,
damage, liability, or expense, provided that the allowance of such offset does not invalidate the policy or policies under which such proceeds were payable and (ii) the amount of any loss, cost, damage, liability or expense caused by a peril covered
by fire insurance with the broadest form of property insurance generally available on property in buildings of the type of the Building, whether or not actually procured by Tenant. 
  
 The parties hereto shall each procure an appropriate clause in, or endorsement on, any property insurance policy covering
the premises and the Building and personal property, fixtures and equipment located thereon and therein, pursuant to which the insurance companies waive subrogation or consent to a waiver of right of recovery in favor of either party, its respective
agents or employees. Having obtained such clauses and/or endorsements, each party hereby agrees that it will not make any claim against or seek to recover from the other or its agents or employees for any loss or damage to its property or the
property of others resulting from fire or other perils covered by such property insurance. 
  
 20. CONDEMNATION - EMINENT DOMAIN 
  
 In the event that the premises or any part thereof, or the whole or any part of the Building, shall be taken or appropriated by eminent domain or shall be condemned for any public or quasi-public use, or (by virtue of
any such taking, appropriation or condemnation) shall suffer any damage (direct, indirect or consequential) for which Landlord or Tenant shall be entitled to compensation, then (and in any such event) this Lease and the term hereof may be terminated
at the election of Landlord by a notice in writing of its election so to terminate which shall be given by Landlord to Tenant within sixty (60) days following the date on which Landlord shall have received notice of such taking, appropriation or
condemnation. In the event that a substantial part of the premises or of the means of access thereto shall be so taken, appropriated or condemned, then (and in any such event) this Lease and the term hereof may be terminated at the election of
Tenant by a notice in writing of its election so to terminate which shall be given by Tenant to Landlord within sixty (60) days following the date on which Tenant shall have received notice of such taking, appropriation or condemnation. 

 
 Upon the giving of any such notice of termination (either by Landlord or
Tenant) this Lease and the term hereof shall terminate on or retroactively as of the date on which Tenant shall be required to vacate any part of the premises or shall be deprived of a substantial part of the means of access thereto, provided,
however, that Landlord may in Landlord’s notice elect to terminate this Lease and the term hereof retroactively as of the date on which such taking, appropriation or condemnation became legally effective. In the event of any such termination,
this Lease and the term hereof shall expire as of such effective termination date as though that were the Termination Date as stated in Exhibit 1, and the Yearly Rent shall be apportioned as of such date. If neither party (having the right so to do)
elects to terminate Landlord will, with reasonable diligence and at Landlord’s expense, restore the remainder of the premises, or the remainder of the means of access, as nearly as practicably may be to the same condition as obtained prior to

  

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 such taking, appropriation or condemnation in which event (i) a just proportion of the Yearly Rent, according to the
nature and extent of the taking, appropriation or condemnation and the resulting permanent injury to the premises and the means of access thereto, shall be permanently abated, and (ii) a just proportion of the remainder of the Yearly Rent, according
to the nature and extent of the taking, appropriation or condemnation and the resultant injury sustained by the premises and the means of access thereto, shall be abated until what remains of the premises and the means of access thereto shall have
been restored as fully as may be for permanent use and occupation by Tenant hereunder. Except for any award specifically reimbursing Tenant for moving or relocation expenses, there are expressly reserved to Landlord all rights to compensation and
damages created, accrued or accruing by reason of any such taking, appropriation or condemnation, in implementation and in confirmation of which Tenant does hereby acknowledge that Landlord shall be entitled to receive all such compensation and
damages, grant to Landlord all and whatever rights (if any) Tenant may have to such compensation and damages, and agree to execute and deliver all and whatever further instruments of assignment as Landlord may from time to time request. In the event
of any taking of the premises or any part thereof for temporary (i.e., not in excess of one (1) year) use, (i) this Lease shall be and remain unaffected thereby, and (ii) Tenant shall be entitled to receive for itself any award made to the extent
allocable to the premises in respect of such taking on account of such use, provided, that if any taking is for a period extending beyond the term of this Lease, such award shall be apportioned between Landlord and Tenant as of the Termination Date
or earlier termination of this Lease. 
  
 21. DEFAULT 
  
 21.1 Conditions of Limitation - Re-entry - Termination. This Lease
and the herein term and estate are, upon the condition that if (a) subject to Article 21.7, Tenant shall neglect or fail to perform or observe any of the Tenant’s covenants or agreements herein, including (without limitation) the covenants or
agreements with regard to the payment when due of rent, additional charges, reimbursement for increase in Landlord’s costs, or any other charge payable by Tenant to Landlord (all of which shall be considered as part of Yearly Rent for the
purposes of invoking Landlord’s statutory or other rights and remedies in respect of payment defaults); or (b) Tenant shall desert or abandon the premises or the same shall become, or shall appear to have become, vacant (whether or not the keys
shall have been surrendered or the rent shall have been paid); or (c) Tenant shall be involved in financial difficulties as evidenced by an admission in writing by Tenant of Tenant’s inability to pay its debts generally as they become due, or
by the making or offering to make a composition of its debts with its creditors; or (d) Tenant shall make an assignment or trust mortgage, or other conveyance or transfer of like nature, of all or a substantial part of its property for the benefit
of its creditors, or (e) an attachment on mesne process, on execution or otherwise, or other legal process shall issue against Tenant or its property and a sale of any of its assets shall be held thereunder; or (f) any judgment, final beyond appeal
or any lien, attachment or the like shall be entered, recorded or filed against Tenant in any court, registry, etc. and Tenant shall fail to pay such judgment within thirty (30) days after the judgment shall have become final beyond appeal or to
discharge or secure by surety bond such lien, attachment, etc. within thirty (30) days of such entry, recording or filing, as the case may be; or (g) the leasehold hereby created shall be taken on execution or by other process of law and shall not
be revested in Tenant within thirty (30) days thereafter; or (h) a receiver, sequesterer, trustee or similar officer shall be appointed by a court of competent jurisdiction to take charge of all or any part of Tenant’s property and such
appointment shall not be vacated within thirty (30) days; or (i) any proceeding shall be instituted by or against Tenant pursuant to any of the provisions of any Act of Congress or State law relating to bankruptcy, reorganizations, arrangements,
compositions or other relief from creditors, and, in the case of any proceeding instituted against it, if Tenant shall fail to have such proceedings dismissed within ninety (90) days or if Tenant is adjudged bankrupt or insolvent as a result of any
such proceeding, or (j) any event shall occur or any contingency shall arise whereby this Lease, or the term and estate thereby created, would (by operation of law or otherwise) devolve upon or pass to any person, firm or corporation other than
Tenant, except as expressly permitted under Article 16 hereof - then, and in any such event (except as hereinafter in Article 21.2 otherwise provided) Landlord may, by notice to Tenant, elect to terminate this Lease; and thereupon (and without
prejudice to any remedies which might otherwise be available for arrears of rent or other charges due hereunder or preceding breach of covenant or agreement and without prejudice to 
  

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 Tenant’s liability for damages as hereinafter stated), upon the giving of such notice, this Lease shall terminate as
of the date specified therein as though that were the Termination Date as stated in Exhibit 1. Without being taken or deemed to be guilty of any manner of trespass or conversion, and without being liable to indictment, prosecution or damages
therefor, Landlord may, forcibly if necessary, enter into and upon the premises (or any part thereof in the name of the whole); repossess the same as of its former estate; and expel Tenant and those claiming under Tenant. Wherever “Tenant
“ is used in subdivisions (c), (d), (e), (f), (g), (h) and (i) of this Article 21.1, it shall be deemed to include any one of (i) any corporation of which Tenant is a controlled subsidiary and (ii) any guarantor of any of Tenant’s
obligations under this Lease. The words “re-entry” and “re-enter” as used in this Lease are not restricted to their technical legal meanings. 
  
 21.2 Intentionally Omitted. 
  

21.3 Damages - Termination. Upon the termination of this Lease under the provisions of this Article 21, then except as hereinabove in Article
21.2 otherwise provided, Tenant shall pay to Landlord the rent and other charges payable by Tenant to Landlord up to the time of such termination, shall continue to be liable for any preceding breach of covenant, and in addition, shall pay to
Landlord as damages, at the election of Landlord 
  
 either:

  
 (x) the amount by which, at the time of the termination of
this Lease (or at any time thereafter if Landlord shall have initially elected damages under subparagraph (y), below), (i) the aggregate of the rent and other charges projected over the period commencing with such termination and ending on the
Termination Date as stated in Exhibit 1 exceeds (ii) the aggregate projected rental value of the premises for such period; 
  
 or: 
  
 (y) amounts equal to the rent and other charges which would have been payable by Tenant had this Lease not been so terminated, payable upon the due dates
therefor specified herein following such termination and until the Termination Date as specified in Exhibit 1, provided, however, if Landlord shall re-let the premises during such period, that Landlord shall credit Tenant with the net rents received
by Landlord from such re-letting, such net rents to be determined by first deducting from the gross rents as and when received by Landlord from such re-letting the expenses incurred or paid by Landlord in terminating this Lease, as well as the
expenses of re-letting, including altering and preparing the premises for new tenants, brokers’ commissions, and all other similar and dissimilar expenses properly chargeable against the premises and the rental therefrom, it being understood
that any such re-letting may be for a period equal to or shorter or longer than the remaining term of this Lease; and provided, further, that (i) in no event shall Tenant be entitled to receive any excess of such net rents over the sums payable by
Tenant to Landlord hereunder and (ii) in no event shall Tenant be entitled in any suit for the collection of damages pursuant to this Subparagraph (y) to a credit in respect of any net rents from a re-letting except to the extent that such net rents
are actually received by Landlord prior to the commencement of such suit. If the premises or any part thereof should be re-let in combination with other space, then proper apportionment on a square foot area basis shall be made of the rent received
from such re-letting and of the expenses of re-letting. 
  
 In
calculating the rent and other charges under Subparagraph (x), above, there shall be included, in addition to the Yearly Rent, Tax Share and Operating Expense Share and all other considerations agreed to be paid or performed by Tenant, on the
assumption that all such amounts and considerations would have remained constant (except as herein otherwise provided) for the balance of the full term hereby granted. 
  
 Suit or suits for the recovery of such damages, or any installments thereof, may be brought by Landlord from time to time at
its election, and nothing contained herein shall be deemed to require Landlord to postpone suit until the date when the term of this Lease would have expired if it had not been terminated hereunder. 
  

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 Nothing herein contained shall be construed as limiting or precluding the recovery by Landlord against
Tenant of any sums or damages to which, in addition to the damages particularly provided above, Landlord may lawfully be entitled by reason of any default hereunder on the part of Tenant. 
  
 21.4 Fees and Expenses. 
  
 (a) If Tenant shall default in the performance of any covenant on Tenant’s part to be performed as in this Lease contained, Landlord may immediately,
or at any time thereafter, without notice, perform the same for the account of Tenant. If Landlord at any time is compelled to pay or elects to pay any sum of money, or do any act which will require the payment of any sum of money, by reason of the
failure of Tenant to comply with any provision hereof, or if Landlord is compelled to or does incur any expense, including reasonable attorneys’ fees, in instituting, prosecuting, and/or defending any action or proceeding instituted by reason
of any default of Tenant hereunder, Tenant shall on demand pay to Landlord by way of reimbursement the sum or sums so paid by Landlord with all costs and damages, plus interest computed as provided in Article 6 hereof. 
  
 (b) Tenant shall pay Landlord’s cost and expense, including reasonable
attorneys’ fees, incurred (i) in enforcing any obligation of Tenant under this Lease or (ii) as a result of Landlord, without its fault, being made party to any litigation pending by or against Tenant or any persons claiming through or under
Tenant. 
  
 21.5 Waiver of Redemption. Tenant does hereby
waive and surrender all rights and privileges which it might have under or by reason of any present or future law to redeem the premises or to have a continuance of this Lease for the term hereby demised after being dispossessed or ejected therefrom
by process of law or under the terms of this Lease or after the termination of this Lease as herein provided. 
  
 21.6 Landlord’s Remedies Not Exclusive. The specified remedies to which Landlord may resort hereunder are cumulative and are not intended to
be exclusive of any remedies or means of redress to which Landlord may at any time be lawfully entitled, and Landlord may invoke any remedy (including the remedy of specific performance) allowed at law or in equity as if specific remedies were not
herein provided for. 
  
 21.7 Grace Period. Notwithstanding
anything to the contrary in this Article contained, Landlord agrees not to take any action to terminate this Lease (a) for default by Tenant in the payment when due of any sum of money, if Tenant shall cure such default within five (5) days after
written notice thereof is given by Landlord to Tenant, provided, however, that no such notice need be given and no such default in the payment of money shall be curable if on two (2) prior occasions there had been a default in the payment of money
which had been cured after notice thereof had been given by Landlord to Tenant as herein provided or (b) for default by Tenant in the performance of any covenant other than a covenant to pay a sum of money, if Tenant shall cure such default within a
period of thirty (30) days after written notice thereof given by Landlord to Tenant (except where the nature of the default is such that remedial action should appropriately take place sooner, as indicated in such written notice), or within such
additional period as may reasonably be required to cure such default if (because of governmental restrictions or any other cause beyond the reasonable control of Tenant) the default is of such a nature that it cannot be cured within such
thirty-(30)-day period, provided, however, (1) that there shall be no extension of time beyond such thirty-(30)-day period for the curing of any such default unless, not more than ten (10) days after the receipt of the notice of default, Tenant in
writing (i) shall specify the cause on account of which the default cannot be cured during such period and shall advise Landlord of its intention duly to institute all steps necessary to cure the default and (ii) shall, as soon as reasonably
practicable, duly institute and thereafter diligently prosecute to completion all steps necessary to cure such default and, (2) that no notice of the opportunity to cure a default need be given, and no grace period whatsoever shall be allowed to
Tenant, if the default is incurable or if the covenant or condition the breach of which gave rise to default had, by reason of a breach on a prior occasion, been the subject of a notice hereunder to cure such default. 
  

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 Notwithstanding anything to the contrary in this Article 21.7 contained, except to the extent prohibited
by applicable law, any statutory notice and grace periods provided to Tenant by law are hereby expressly waived by Tenant. 
  
 22. END OF TERM - ABANDONED PROPERTY 
  
 Upon the expiration or other termination of the term of this Lease, Tenant shall peaceably quit and surrender to Landlord the premises and all alterations
and additions thereto, broom clean, in good order, repair and condition (except as provided herein and in Articles 8.7, 18 and 20) excepting only ordinary wear and use and damage by fire or other casualty for which, under other provisions of this
Lease, Tenant has no responsibility of repair or restoration. Tenant shall remove all of its property, including, without limitation, al telecommunication, computer and other cabling installed by Tenant in the premises or elsewhere in the Building,
and, to the extent specified by Landlord, all alterations and additions made by Tenant and all partitions wholly within the premises, and shall repair any damages to the premises or the Building caused by their installation or by such removal.
Tenant’s obligation to observe or perform this covenant shall survive the expiration or other termination of the term of this Lease. 
  
 Tenant will remove any personal property from the Building and the premises upon or prior to the expiration or termination of this Lease and any such
property which shall remain in the Building or the premises thereafter shall be conclusively deemed to have been abandoned, and may either be retained by Landlord as its property or sold or otherwise disposed of in such manner as Landlord may see
fit. If any part thereof shall be sold, that Landlord may receive and retain the proceeds of such sale and apply the same, at its option, against the expenses of the sale, the cost of moving and storage, any arrears of Yearly Rent, additional or
other charges payable hereunder by Tenant to Landlord and any damages to which Landlord may be entitled under Article 21 hereof or pursuant to law. 
  
 If Tenant or anyone claiming under Tenant shall remain in possession of the premises or any part thereof after the expiration or prior termination of the
term of this Lease without any agreement in writing between Landlord and Tenant with respect thereto, then, prior to the acceptance of any payments for rent or use and occupancy by Landlord, the person remaining in possession shall be deemed a
tenant-at-sufferance. Whereas the parties hereby acknowledge that Landlord may need the premises after the expiration or prior termination of the term of the Lease for other tenants and that the damages which Landlord may suffer as the result of
Tenant’s holding-over cannot be determined as of the Execution Date hereof, in the event that Tenant so holds over, Tenant shall pay to Landlord in addition to all rental and other charges due and accrued under the Lease prior to the date of
termination, charges (based upon fair market rental value of the premises) for use and occupation of the premises thereafter and, in addition to such sums and any and all other rights and remedies which Landlord may have at law or in equity, an
additional use and occupancy charge in the amount of fifty percent (50%) of either the Yearly Rent and other charges calculated (on a daily basis) at the highest rate payable under the terms of this Lease, but measured from the day on which
Tenant’s hold-over commenced and terminating on the day on which Tenant vacates the premises or the fair market value of the premises for such period, whichever is greater. In addition, Tenant shall save Landlord, its agents and employees,
harmless and will exonerate, defend and indemnify Landlord, its agents and employees, from and against any and all damages which Landlord may suffer on account of Tenant’s hold-over in the premises after the expiration or prior termination of
the term of the Lease. 
  
 23. SUBORDINATION 
  
 (a) Subject to any mortgagee’s or ground lessor’s election, as
hereinafter provided for, this Lease is subject and subordinate in all respects to all matters of record (including, without limitation, deeds and land disposition agreements), ground leases and/or underlying leases, and all mortgages, any of which
may now or hereafter be placed on or affect such leases and/or the real property of which the premises are a 
  

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 part, or any part of such real property, and/or Landlord’s interest or estate therein, and to each advance made
and/or hereafter to be made under any such mortgages, and to all renewals, modifications, consolidations, replacements and extensions thereof and all substitutions therefor. This Article 23 shall be conditioned upon Tenant receiving a written
instrument in recordable form and in the customary form of such mortgagee, ground lessor, or trustee, with such commercially reasonable changes as Tenant may request. In confirmation of such subordination, Tenant shall execute, acknowledge and
deliver promptly any certificate or instrument that Landlord and/or any mortgagee and/or lessor under any ground or underlying lease and/or their respective successors in interest may request, subject to Landlord’s, mortgagee’s and ground
lessor’s right to do so for, on behalf and in the name of Tenant under certain circumstances, as hereinafter provided. Tenant acknowledges that, where applicable, any consent or approval hereafter given by Landlord may be subject to the further
consent or approval of such mortgagee and/or ground lessor; and the failure or refusal of such mortgagee and/or ground lessor to give such consent or approval shall, notwithstanding anything to the contrary in this Lease contained, constitute
reasonable justification for Landlord’s withholding its consent or approval. 
  
 (b) Any such mortgagee or ground lessor may from time to time subordinate or revoke any such subordination of the mortgage or ground lease held by it to this Lease. Such subordination or revocation, as the case may
be, shall be effected by written notice to Tenant and by recording an instrument of subordination or of such revocation, as the case may be, with the appropriate registry of deeds or land records and to be effective without any further act or deed
on the part of Tenant. In confirmation of such subordination or of such revocation, as the case may be, Tenant shall execute, acknowledge and promptly deliver any certificate or instrument that Landlord, any mortgagee or ground lessor may request,
subject to Landlord’s, mortgagee’s and ground lessor’s right to do so for, on behalf and in the name of Tenant under certain circumstances, as hereinafter provided. 
  
 (c) Without limitation of any of the provisions of this Lease, if any ground lessor or mortgagee shall succeed to the
interest of Landlord by reason of the exercise of its rights under such ground lease or mortgage (or the acceptance of voluntary conveyance in lieu thereof) or any third party (including, without limitation, any foreclosure purchaser or mortgage
receiver) shall succeed to such interest by reason of any such exercise or the expiration or sooner termination of such ground lease, however caused, then such successor may, upon notice and request to Tenant (which, in the case of a ground lease,
shall be within thirty (30) days after such expiration or sooner termination), succeed to the interest of Landlord under this Lease, provided, however, that such successor shall not: (i) be liable for any previous act or omission of Landlord under
this Lease; (ii) be subject to any offset, defense, or counterclaim which shall theretofore have accrued to Tenant against Landlord; (iii) have any obligation with respect to any security deposit unless it shall have been paid over or physically
delivered to such successor; or (iv) be bound by any previous modification of this Lease or by any previous payment of Yearly Rent for a period greater than one (1) month, made without such ground lessor’s or mortgagee’s consent where such
consent is required by applicable ground lease or mortgage documents. In the event of such succession to the interest of the Landlord — and notwithstanding that any such mortgage or ground lease may antedate this Lease — the Tenant shall
attorn to such successor and shall ipso facto be and become bound directly to such successor in interest to Landlord to perform and observe all the Tenant’s obligations under this Lease without the necessity of the execution of any further
instrument. Nevertheless, Tenant agrees at any time and from time to time during the term hereof to execute a suitable instrument in confirmation of Tenant’s agreement to attorn, as aforesaid, subject to Landlord’s, mortgagee’s and
ground lessor’s right to do so for, on behalf and in the name of Tenant under certain circumstances, as hereinafter provided. 
  
 (d) The term “mortgage(s)” as used in this Lease shall include any mortgage or deed of trust. The term “mortgagee(s)” as used in this
Lease shall include any mortgagee or any trustee and beneficiary under a deed of trust or receiver appointed under a mortgage or deed of trust. The term “mortgagor(s)” as used in this Lease shall include any mortgagor or any grantor under
a deed of trust. 
  
 (e) Tenant hereby irrevocably constitutes and
appoints Landlord or any such mortgagee or ground lessor, and their respective successors in interest, acting singly, Tenant’s attorney-in-fact to execute 
  

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 and deliver any such certificate or instrument for, on behalf and in the name of Tenant, but only if Tenant fails to
execute, acknowledge and deliver any such certificate or instrument within ten (10) days after Landlord or such mortgagee or such ground lessor has made written request therefor. 
  
 (f) Notwithstanding anything to the contrary contained in this Article 23, if all or part of Landlord’s estate and
interest in the real property of which the premises are a part shall be a leasehold estate held under a ground lease, then: (i) the foregoing subordination provisions of this Article 23 shall not apply to any mortgages of the fee interest in said
real property to which Landlord’s leasehold estate is not otherwise subject and subordinate; and (ii) the provisions of this Article 23 shall in no way waive, abrogate or otherwise affect any agreement by any ground lessor (x) not to terminate
this Lease incident to any termination of such ground lease prior to its term expiring or (y) not to name or join Tenant in any action or proceeding by such ground lessor to recover possession of such real property or for any other relief.

  
 (g) In the event of any failure by Landlord to perform,
fulfill or observe any agreement by Landlord herein, in no event will the Landlord be deemed to be in default under this Lease permitting Tenant to exercise any or all rights or remedies under this Lease until the Tenant shall have given written
notice of such failure to any mortgagee (ground lessor and/or trustee) of which Tenant shall have been advised and until a reasonable period of time shall have elapsed following the giving of such notice, during which such mortgagee (ground lessor
and/or trustee) shall have the right, but shall not be obligated, to remedy such failure. 
  
 24. QUIET ENJOYMENT 
  
 Landlord covenants that if, and so long as, Tenant keeps and performs each and every covenant, agreement, term, provision and condition herein contained on the part and on behalf of Tenant to be kept and performed, Tenant shall quietly
enjoy the premises from and against the claims of all persons claiming by, through or under Landlord subject, nevertheless, to the covenants, agreements, terms, provisions and conditions of this Lease and to the mortgages, ground leases and/or
underlying leases to which this Lease is subject and subordinate, as hereinabove set forth. 
  
 Without incurring any liability to Tenant, Landlord may permit access to the premises and open the same, whether or not Tenant shall be present, upon any demand of any receiver, trustee, assignee for the benefit of
creditors, sheriff, marshal or court officer entitled to, or reasonably purporting to be entitled to, such access for the purpose of taking possession of, or removing, Tenant’s property or for any other lawful purpose (but this provision and
any action by Landlord hereunder shall not be deemed a recognition by Landlord that the person or official making such demand has any right or interest in or to this Lease, or in or to the premises), or upon demand of any representative of the fire,
police, building, sanitation or other department of the city, state or federal governments. 
  
 25. ENTIRE AGREEMENT — WAIVER — SURRENDER 
  
 25.1 Entire Agreement. This Lease and the Exhibits made a part hereof contain the entire and only agreement between the parties and any and all statements and representations, written and oral, including
previous correspondence and agreements between the parties hereto, are merged herein. Tenant acknowledges that all representations and statements upon which it relied in executing this Lease are contained herein and that the Tenant in no way relied
upon any other statements or representations, written or oral. Any executory agreement hereafter made shall be ineffective to change, modify, discharge or effect an abandonment of this Lease in whole or in part unless such executory agreement is in
writing and signed by the party against whom enforcement of the change, modification, discharge or abandonment is sought. 
  
 25.2 Waiver by Landlord. The failure of Landlord to seek redress for violation, or to insist upon the strict performance, of any covenant or
condition of this Lease, or any of the Rules and Regulations promulgated hereunder, shall not prevent a subsequent act, which would have originally constituted a violation, from having all the force and effect of an original violation. The receipt
by Landlord of rent with 
  

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 knowledge of the breach of any covenant of this Lease shall not be deemed a waiver of such breach. The failure of
Landlord to enforce any of such Rules and Regulations against Tenant and/or any other tenant in the Building shall not be deemed a waiver of any such Rules and Regulations. No provisions of this Lease shall be deemed to have been waived by Landlord
unless such waiver be in writing signed by Landlord. No payment by Tenant or receipt by Landlord of a lesser amount than the monthly rent herein stipulated shall be deemed to be other than on account of the stipulated rent, nor shall any endorsement
or statement on any check or any letter accompanying any check or payment as rent be deemed an accord and satisfaction, and Landlord may accept such check or payment without prejudice to Landlord’s right to recover the balance of such rent or
pursue any other remedy in this Lease provided. 
  
 25.3
Surrender. No act or thing done by Landlord during the term hereby demised shall be deemed an acceptance of a surrender of the premises, and no agreement to accept such surrender shall be valid, unless in writing signed by Landlord. No employee
of Landlord or of Landlord’s agents shall have any power to accept the keys of the premises prior to the termination of this Lease. The delivery of keys to any employee of Landlord or of Landlord’s agents shall not operate as a termination
of the Lease or a surrender of the premises. In the event that Tenant at any time desires to have Landlord underlet the premises for Tenant’s account, Landlord or Landlord’s agents are authorized to receive the keys for such purposes
without releasing Tenant from any of the obligations under this Lease, and Tenant hereby relieves Landlord of any liability for loss of or damage to any of Tenant’s effects in connection with such underletting. 
  
 26. INABILITY TO PERFORM - EXCULPATORY CLAUSE 
  
 (a) Except as provided in Article 4.1 and 4.2 hereof, this Lease and the
obligations of Tenant to pay rent hereunder and perform all the other covenants, agreements, terms, provisions and conditions hereunder on the part of Tenant to be performed shall in no way be affected, impaired or excused because Landlord is unable
to fulfill any of its obligations under this Lease or is unable to supply or is delayed in supplying any service expressly or impliedly to be supplied or is unable to make or is delayed in making any repairs, replacements, additions, alterations,
improvements or decorations or is unable to supply or is delayed in supplying any equipment or fixtures if Landlord is prevented or delayed from so doing by reason of strikes or labor troubles or any other similar or dissimilar cause whatsoever
beyond Landlord’s reasonable control, including but not limited to, governmental preemption in connection with a national emergency or by reason of any rule, order or regulation of any department or subdivision thereof of any governmental
agency or by reason of the conditions of supply and demand which have been or are affected by war, hostilities or other similar or dissimilar emergency. In each such instance of inability of Landlord to perform, Landlord shall exercise reasonable
diligence to eliminate the cause of such inability to perform. 
  
 (b) Tenant shall neither assert nor seek to enforce any claim against Landlord, or Landlord’s agents or employees, or the assets of Landlord or of Landlord’s agents or employees, for breach of this Lease or otherwise, other than
against Landlord’s interest in the Building of which the premises are a part and in the uncollected rents, issues and profits thereof, and Tenant agrees to look solely to such interest for the satisfaction of any liability of Landlord under
this Lease, it being specifically agreed that in no event shall Landlord or Landlord’s agents or employees (or any of the officers, trustees, directors, partners, beneficiaries, joint venturers, members, stockholders or other principals or
representatives, and the like, disclosed or undisclosed, thereof) ever be personally liable for any such liability. This paragraph shall not limit any right that Tenant might otherwise have to obtain injunctive relief against Landlord or to take any
other action which shall not involve the personal liability of Landlord to respond in monetary damages from Landlord’s assets other than the Landlord’s interest in said real estate, as aforesaid. In no event shall Landlord or
Landlord’s agents or employees (or any of the officers, trustees, directors, partners, beneficiaries, joint venturers, members, stockholders or other principals or representatives and the like, disclosed or undisclosed, thereof) ever be liable
for consequential or incidental damages. Without limiting the foregoing, in no event shall Landlord or Landlord’s agents or employees (or any of the officers, trustees, directors, partners, beneficiaries, joint venturers, members, stockholders
or other principals or representatives and the like, disclosed or undisclosed, thereof) ever be liable for lost profits of Tenant. If by 
  

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 reason of Landlord’s failure to acquire title to the real property of which the premises are a part or to complete
construction of the Building or premises, Landlord shall be held to be in breach of this Lease, Tenant’s sole and exclusive remedy shall be a right to terminate this Lease. 
  
 (c) Landlord shall not be deemed to be in default of its obligations under the Lease unless Tenant has given Landlord
written notice of such default, and Landlord has failed to cure such default within thirty (30) days after Landlord receives such notice or such longer period of time as Landlord may reasonably require to cure such default. Except as otherwise
expressly provided in this Lease, in no event shall Tenant have the right to terminate the Lease nor shall Tenant’s obligation to pay Yearly Rent or other charges under this Lease abate based upon any default by Landlord of its obligations
under the Lease. 
  
 27. BILLS AND NOTICES 
  
 Any notice, consent, request, bill, demand or statement hereunder by either
party to the other party shall be in writing and, if received at Landlord’s or Tenant’s address, shall be deemed to have been duly given when either delivered or served personally or mailed in a postpaid envelope, deposited in the United
States mail addressed to Landlord at its address as stated in Exhibit 1 and to Tenant at the premises (or at Tenant’s address as stated in Exhibit 1, if mailed prior to Tenant’s occupancy of the premises), or if any address for notices
shall have been duly changed as hereinafter provided, if mailed as aforesaid to the party at such changed address. Either party may at any time change the address or specify an additional address for such notices, consents, requests, bills, demands
or statements by delivering or mailing, as aforesaid, to the other party a notice stating the change and setting forth the changed or additional address, provided such changed or additional address is within the United States. 
  
 If Tenant is a partnership, Tenant, for itself, and on behalf of all of its
partners, hereby appoints Tenant’s Service Partner, as identified on Exhibit 1, to accept service of any notice, consent, request, bill, demand or statement hereunder by Landlord and any service of process in any judicial proceeding with
respect to this Lease on behalf of Tenant and as agent and attorney-in-fact for each partner of Tenant. 
  
 All bills and statements for reimbursement or other payments or charges due from Tenant to Landlord hereunder shall be due and payable in full ten (10)
days, unless herein otherwise provided, after submission thereof by Landlord to Tenant. Tenant’s failure to make timely payment of any amounts indicated by such bills and statements, whether for work done by Landlord at Tenant’s request,
reimbursement provided for by this Lease or for any other sums properly owing by Tenant to Landlord, shall be treated as a default in the payment of rent, in which event Landlord shall have all rights and remedies provided in this Lease for the
nonpayment of rent. 
  
 28. PARTIES BOUND — SEIZING OF TITLE

  
 The covenants, agreements, terms, provisions and
conditions of this Lease shall bind and benefit the successors and assigns of the parties hereto with the same effect as if mentioned in each instance where a party hereto is named or referred to, except that no violation of the provisions of
Article 16 hereof shall operate to vest any rights in any successor or assignee of Tenant and that the provisions of this Article 28 shall not be construed as modifying the conditions of limitation contained in Article 21 hereof. 
  
 If, in connection with or as a consequence of the sale, transfer or other
disposition of the real estate (land and/or Building, either or both, as the case may be) of which the premises are a part, Landlord ceases to be the owner of the reversionary interest in the premises, Landlord shall be entirely freed and relieved
from the performance and observance thereafter of all covenants and obligations hereunder on the part of Landlord to be performed and observed, it being understood and agreed in such event (and it shall be deemed and construed as a covenant running
with the land) that the person succeeding to Landlord’s ownership of said reversionary interest shall thereupon and thereafter assume, and perform and observe, any and all of such covenants and obligations of Landlord. 
  

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 29. MISCELLANEOUS 
  
 29.1 Separability. If any provision of this Lease or portion of such provision or the application thereof to any person or circumstance is for any
reason held invalid or unenforceable, the remainder of the Lease (or the remainder of such provision) and the application thereof to other persons or circumstances shall not be affected thereby. 
  
 29.2 Captions, etc. The captions are inserted only as a matter of
convenience and for reference, and in no way define, limit or describe the scope of this Lease nor the intent of any provisions thereof. References to “State” shall mean, where appropriate, the District of Columbia and other Federal
territories, possessions, as well as a state of the United States. 
  
 29.3 Broker. . Tenant represents and warrants that it has not directly or indirectly dealt, with respect to the leasing of office space in the Building or any Center, Office Park or other Park of which it is a part (called
“Building, etc.” in this Article 29.3) with any broker or had its attention called to the premises or other space to let in the Building, etc. by anyone other than the broker, person or firm, if any, designated in Exhibit 1. Tenant agrees
to defend, exonerate and save harmless and indemnify Landlord and anyone claiming by, through or under Landlord against any claims for a commission arising out of the execution and delivery of this Lease or out of negotiations between Landlord and
Tenant with respect to the leasing of other space in the Building, etc., provided that Landlord shall be solely responsible for the payment of brokerage commissions to the broker, person or firm, if any, designated in Exhibit 1. 
  
 29.4 Modifications. If in connection with obtaining financing for the
Building, a bank, insurance company, pension trust or other institutional lender shall request reasonable modifications in this Lease as a condition to such financing, Tenant will not withhold, delay or condition its consent thereto, provided that
such modifications do not increase the obligations of Tenant hereunder or materially adversely affect the leasehold interest hereby created. 
  
 29.5 Arbitration. Any disputes relating to provisions or obligations in this Lease as to which a specific provision for a reference to arbitration
is made herein shall be submitted to arbitration in accordance with the provisions of applicable state law (as identified on Exhibit 1), as from time to time amended. Arbitration proceedings, including the selection of an arbitrator, shall be
conducted pursuant to the rules, regulations and procedures from time to time in effect as promulgated by the American Arbitration Association. Prior written notice of application by either party for arbitration shall be given to the other at least
ten (10) days before submission of the application to the said Association’s office in the City wherein the Building is situated (or the nearest other city having an Association office). The arbitrator shall hear the parties and their evidence.
The decision of the arbitrator shall be binding and conclusive, and judgment upon the award or decision of the arbitrator may be entered in the appropriate court of law (as identified on Exhibit 1); and the parties consent to the jurisdiction of
such court and further agree that any process or notice of motion or other application to the Court or a Judge thereof may be served outside the State wherein the Building is situated by registered mail or by personal service, provided a reasonable
time for appearance is allowed. The costs and expenses of each arbitration hereunder and their apportionment between the parties shall be determined by the arbitrator in his award or decision. No arbitrable dispute shall be deemed to have arisen
under this Lease prior to (i) the expiration of the period of twenty (20) days after the date of the giving of written notice by the party asserting the existence of the dispute together with a description thereof sufficient for an understanding
thereof; and (ii) where a Tenant payment (e.g., Tax Share or Operating Expense Share under Article 9 hereof) is in issue, the amount billed by Landlord having been paid by Tenant. 
  
 29.6 Governing Law. This Lease is made pursuant to, and shall be governed by, and construed in accordance with, the
laws of the State wherein the Building is situated and any applicable local municipal rules, regulations, by-laws, ordinances and the like. 
  

 -38- 

 29.7 Assignment of Rents. With reference to any assignment by Landlord of its interest in this
Lease, or the rents payable hereunder, conditional in nature or otherwise, which assignment is made to or held by a bank, trust company, insurance company or other institutional lender holding a mortgage or ground lease on the Building, Tenant
agrees: 
  
 (a) that the execution thereof by Landlord and the
acceptance thereof by such mortgagee and/or ground lessor shall never be deemed an assumption by such mortgagee and/or ground lessor of any of the obligations of the Landlord thereunder, unless such mortgagee and/or ground lessor shall, by written
notice sent to the Tenant, specifically otherwise elect; and 
  
 (b) that, except as aforesaid, such mortgagee and/or ground lessor shall be treated as having assumed the Landlord’s obligations thereunder only upon foreclosure of such mortgagee’s mortgage or deed of trust or termination of such
ground lessor’s ground lease and the taking of possession of the demised premises after having given notice of its exercise of the option stated in Article 23 hereof to succeed to the interest of the Landlord under this Lease. 
  
 29.8 Representation of Authority. By his execution hereof each of the
signatories on behalf of the respective parties hereby warrants and represents to the other that he is duly authorized to execute this Lease on behalf of such party. If Tenant is a corporation, Tenant hereby appoints the signatory whose name appears
below on behalf of Tenant as Tenant’s attorney-in-fact for the purpose of executing this Lease for and on behalf of Tenant. 
  
 29.9 Expenses Incurred by Landlord Upon Tenant Requests.. Tenant shall, upon demand, reimburse Landlord for all reasonable expenses, including,
without limitation, legal fees, incurred by Landlord in connection with all requests by Tenant for consents, approvals or execution of collateral documentation related to this Lease, including, without limitation, costs incurred by Landlord in the
review and approval of Tenant’s plans and specifications in connection with proposed alterations to be made by Tenant to the premises, requests by Tenant to sublet the premises or assign its interest in the Lease, the execution by Landlord of
estoppel certificates requested by Tenant, and requests by Tenant for Landlord to execute waivers of Landlord’s interest in Tenant’s property in connection with third party financing by Tenant. Such costs shall be deemed to be additional
rent under the Lease. 
  
 29.10 Survival. Without limiting
any other obligation of the Tenant which may survive the expiration or prior termination of the term of the Lease, all obligations on the part of Tenant to indemnify, defend, or hold Landlord harmless, as set forth in this Lease (including, without
limitation, Tenant’s obligations under Articles 13(d), 15.3, and 29.3) shall survive the expiration or prior termination of the term of the Lease. 
  
 29.11 Hazardous Materials. Landlord and Tenant agree as follows with respect to the existence or use of “Hazardous Material” in or on the
Premises. 
  
 (a) Tenant, at its sole cost and expense, shall
comply with all laws, statutes, ordinances, rules and regulations of any local, state or federal governmental authority having jurisdiction concerning environmental, health and safety matters (collectively, “Environmental Laws”),
including, but not limited to, any discharge into the air, surface, water, sewers, soil or groundwater of any Hazardous Material (as defined in Article 29.11(c)), whether within or outside the premises within the Complex. Notwithstanding the
foregoing, nothing contained in this Lease requires, or shall be construed to require, Tenant to incur any liability related to or arising from environmental conditions (i) for which the Landlord is responsible pursuant to the terms of this Lease,
or (ii) which existed within the premises or the Complex prior to the date Tenant takes possession of the premises.. 
  
 (b) Tenant shall not cause or permit any Hazardous Material to be brought upon, kept or used in or about the premises or otherwise in the Complex by
Tenant, its agents, employees, contractors or invitees, without the prior written consent of Landlord, except for Hazardous Materials which are typically 
  

 -39- 

 used in the operation of offices or laboratories, provided that such materials are stored, used and disposed of in strict
compliance with all applicable Environmental Laws and with good scientific and medical practice. Notwithstanding the foregoing, with respect to any of Tenant’s Hazardous Material which Tenant does not properly handle, store or dispose of in
compliance with all applicable Environmental Laws and good scientific and medical practice, Tenant shall, upon written notice from Landlord, no longer have the right to bring such material into the buildings or the Complex until Tenant has
demonstrated, to Landlord’s reasonable satisfaction, that Tenant has implemented programs to thereafter properly handle, store or dispose of such material. 
  

(c) As used herein, the term “Hazardous Material” means any hazardous or toxic substance, material or waste or petroleum derivative which is
or becomes regulated by any Environmental Law, specifically including live organisms, viruses and fungi, medical waste, and so-called “biohazard” materials. The term “Hazardous Material” includes, without limitation, any material
or substance which is (i) designated as a “hazardous substance” pursuant to Section 1311 of the Federal Water Pollution Control Act (33 U.S.C. Section 1317), (ii) defined as a “hazardous waste” pursuant to Section 1004 of the
Federal Resource Conservation and Recovery Act, 42 U.S.C. Section 6901 et seq. (42 U.S.C. Section 6903), (iii) defined as a “hazardous substance” pursuant to Section 101 of the Comprehensive Environmental Response, Compensation and
Liability Act, 42 U.S.C. Section 9601 et seq. (42 U.S.C. Section 9601), (iv) defined as “hazardous substance” or “oil” under Chapter 21E of the General Laws of Massachusetts, or (v) a so-called “biohazard” or medical
waste, or is contaminated with blood or other bodily fluids; and “Environmental Laws” include, without limitation, the laws listed in the preceding clauses (i) through (iv). 
  
 (d) Any increase in the premium for necessary insurance on the Premises or the Complex which arises from Tenant’s use
and/or storage of these Hazardous Materials shall be solely at Tenant’s expense. Tenant shall procure and maintain at its sole expense such additional insurance as may be necessary to comply with any requirement of any Federal, State or local
government agency with jurisdiction. 
  
 (e) Tenant hereby
covenants and agrees to indemnify, defend and hold Landlord harmless from any and all claims, judgments, damages, penalties, fines, costs, liabilities or losses (collectively “Losses”) which Landlord may reasonably incur arising out of
contamination of real estate, the Complex or other property not a part of the premises, which contamination arises as a result of: (i) the presence of Hazardous Material in the premises, the presence of which is caused or permitted by Tenant, or
(ii) from a breach by Tenant of its obligations under this Article 29.11. This indemnification of Landlord by Tenant includes, without limitation, reasonable costs incurred in connection with any investigation of site conditions or any cleanup,
remedial, removal or restoration work required by any federal, state or local governmental agency or political subdivision because of Hazardous Material present in the soil or ground water on or under the premises based upon the circumstances
identified in the first sentence of this Article 29.11(e). The indemnification and hold harmless obligations of Tenant under this Article 29.11(e) shall survive any termination of this Lease. Without limiting the foregoing, if the presence of any
Hazardous Material in the buildings or otherwise in the Complex caused or permitted by Tenant results in any contamination of the premises, Tenant shall promptly take all actions at its sole expense as are necessary to return the premises to a
condition which complies with all Environmental Laws; provided that Landlord’s approval of such actions shall first be obtained, which approval shall not be unreasonably withheld so long as such actions, in Landlord’s reasonable
discretion, would not potentially have any materially adverse long-term or short-term effect on the premises, and, in any event, Landlord shall not withhold its approval of any proposed actions which are required by applicable Environmental Laws.

  
 (f) On or before the date that Tenant, and anyone claiming by,
through or under Tenant, vacates the Premises, and immediately prior to the time that Tenant delivers the Premises to Landlord, Tenant shall: 
  
 (1) if Tenant has used or possessed radioactive materials or equipment in the premises, cause the premises to be decommissioned in
accordance with the regulations of the U.S. 
  
  

 -40- 

 Nuclear Regulatory Commission and/or the Massachusetts Department of Public Health for the control of
radiation, cause the Premises to be released for unrestricted use by the Radiation Control Program of the Massachusetts Department of Public Health for the control of radiation, and deliver to Landlord the report of a certified industrial hygienist
stating that he or she has examined the Premises and found no evidence that such portion contains Hazardous Materials, as defined in this Article 29.11, or is otherwise in violation of any Environmental Law, as defined in this Article 29.11 hereof.

  
 (2) Provide to Landlord a copy of its most
current chemical waste removal manifest and a certification from Tenant executed by an officer of Tenant that no Hazardous Materials or other potentially dangerous or harmful chemicals brought onto the Premises from and after the date that Tenant
first took occupancy of the Premises remain in the Premises. 
  
 (g) If any Hazardous Materials are discovered in the Complex which are not in compliance with applicable law, Landlord shall, when, if and in the manner required by law, cause the removal or remediation of such Hazardous Materials, except
to the extent that Tenant is responsible for such Hazardous Materials as set forth in this Article 29.11, provided, however, that Landlord shall have no liability to Tenant in the event of a breach by another tenant of the Complex of its obligations
with respect to Hazardous Materials other than to use reasonable efforts to cause such tenant, without cost to Tenant, to remove such Hazardous Materials from the Complex, at the time, and in the manner required by law. 
  
 29.12 Security Deposit. 
  
 A. Tenant shall, at the time that Tenant executes and delivers this
Lease to Landlord, pay to Landlord a security deposit of Forty Thousand and 00/100 ($40,000.00) Dollars securing Tenant’s obligations under this Lease. In no event shall said security deposit be deemed to be a prepayment of rent nor shall it be
considered a measure of liquidated damages. Tenant agrees that no interest shall accrue on said deposit and that Landlord shall have no obligation to maintain such deposit in a separate account (i.e. Landlord shall have the right to commingle such
deposit with other funds of Landlord). In the event that Tenant shall default in any of its obligations under the Lease, Landlord shall have the right, without prior notice to Tenant, to apply said deposit (or any portion thereof) towards the cure
of any such default and Tenant shall promptly, upon notice from Landlord, pay to Landlord any amount so applied by Landlord in order to restore the full amount of said deposit. In addition, in the event of a termination based upon the default of
Tenant under the Lease, or a rejection of the Lease pursuant to the provisions of the Federal Bankruptcy Code, Landlord shall have the right to apply said security deposit (from time to time, if necessary) to cover the full amount of damages and
other amounts due from Tenant to Landlord under the Lease. Any amounts so applied shall, at Landlord’s election, be applied first to any unpaid rent and other charges which were due prior to the filing of the petition for protection under the
Federal Bankruptcy Code. The application of all or any part of the deposit to any obligation or default of Tenant under this Lease shall not deprive Landlord of any other rights or remedies Landlord may have nor shall such application by Landlord
constitute a waiver by Landlord. Provided that Tenant is not in default of any of its obligations under the Lease at the expiration of the term of the Lease, Landlord shall refund to Tenant any portion of said security deposit which Landlord is then
holding. 
  
 B. The security deposit may be in the form of an
irrevocable letter of credit (the “Letter of Credit”), which Letter of Credit shall be (1) in the form attached hereto as Exhibit 7, (2) issued by a bank reasonably acceptable to Landlord with minimum assets of Ten Billion Dollars
($10,000,000,000.00), upon which presentment may be made in Boston, Massachusetts, (3) in an amount equal to Forty Thousand and 00/100 ($40,000.00) Dollars and (4) for a term of one (1) year, subject to extension in accordance with the terms of the
Letter of Credit. Tenant shall, on or before the date thirty (30) days prior to the expiration of the term of such Letter of Credit, deliver to Landlord a new Letter of Credit satisfying the foregoing conditions (“Substitute Letter of
Credit”) in lieu of the Letter of Credit then being held by Landlord. Such Letter of Credit shall be automatically renewable in accordance with the last grammatical paragraph of Exhibit 6; provided that, in such event, Tenant shall be required
to deliver a Substitute Letter of Credit 
  

 -41- 

 satisfying the conditions hereof, on or before the date thirty (30) days prior to the expiration of the term of such
Letter of Credit, if the issuer of such Letter of Credit gives notice of its election not to renew such Letter of Credit for any additional period pursuant thereto. Tenant agrees that it shall from time to time, as necessary, whether as a result of
a draw on the Letter of Credit by Landlord pursuant to the terms hereof or as a result of the expiration of the Letter of Credit then in effect, renew or replace the original and any subsequent Letter of Credit so that a Letter of Credit, in the
amount required hereunder, is in effect until a date which is at least 60 days after the Termination Date of the Lease. If Tenant fails to furnish such renewal or replacement at least 60 days prior to the stated expiration date of the Letter of
Credit then held by Landlord, Landlord may draw upon such Letter of Credit and hold the proceeds thereof (and such proceeds need not be segregated) as a Security Deposit pursuant to the terms of this Article 29.12. 
  
 C. In the event that Tenant is in default of its obligations under the Lease,
then the Landlord shall have the right, at any time after such event, without giving any further notice to Tenant, to draw down from said Letter of Credit (Substitute Letter of Credit or Additional Letter of Credit, as defined below, as the case may
be) (a) the amount necessary to cure such default or (b) if such default cannot reasonably be cured by the expenditure of money, to exercise all rights and remedies Landlord may have on account of such default, the amount which, in Landlord’s
opinion, is necessary to satisfy Tenant’s Liability in account thereof. In the event of any such draw by the Landlord, Tenant shall, within fifteen (15) business days of written demand therefor, deliver to Landlord an additional Letter of
Credit satisfying the foregoing conditions (“Additional Letter of Credit”), except that the amount of such Additional Letter of Credit shall be the amount of such draw. In addition, in the event of a termination based upon the default of
Tenant under the Lease, or a rejection of the Lease pursuant to the provisions of the Federal Bankruptcy Code, Landlord shall have the right to draw upon the Letter of Credit (from time to time, if necessary) to cover the full amount of damages and
other amounts due from Tenant to Landlord under the Lease. Any amounts so drawn shall, at Landlord’s election, be applied first to any unpaid rent and other charges which were due prior to the filing of the petition for protection under the
Federal Bankruptcy Code. Tenant hereby covenants and agrees not to oppose, contest or otherwise interfere with any attempt by Landlord to draw down from said Letter of Credit including, without limitation, by commencing an action seeking to enjoin
or restrain Landlord from drawing upon said Letter of Credit. Tenant also hereby expressly waives any right or claim it may have to seek such equitable relief. In addition to whatever other rights and remedies it may have against Tenant if Tenant
breaches its obligations under this paragraph, Tenant hereby acknowledges that it shall be liable for any and all damages which Landlord may suffer as a result of any such breach. 
  
 D. In the event that Tenant fails timely to deliver to Landlord a Substitute Letter of Credit, then the Landlord shall have
the right, at any time after such event, without giving any further notice to Tenant or to Landlord, to draw down the Letter of Credit (or Substitute Letter of Credit and/or Additional Letter(s) of Credit) and to hold the proceeds thereof
(“Security Proceeds”) in a segregated bank account in the name of the Landlord as security for Tenant’s obligations under the Lease in accordance with the provisions of this Article 29.12. 
  
 E. Upon request of Landlord or any (prospective) purchaser or mortgagee of
the Building, Tenant shall, at its expense, cooperate with Landlord in obtaining an amendment to or replacement of any Letter of Credit which Landlord is then holding so that the amended or new Letter of Credit reflects the name of the new owner of
the Building. 
  
 F. To the extent that Landlord has not
previously drawn upon any Letter of Credit, Substitute Letter of Credit, Additional Letter of Credit or Security Proceeds (collectively “Collateral”) held by the Landlord, and to the extent that Tenant is not otherwise in default of its
obligations under the Lease as of the termination date of the Lease, Landlord shall return such Collateral to Tenant on the termination of the term of the Lease. 
  
 G. In no event shall the proceeds of any Letter of Credit be deemed to be a prepayment of rent nor shall it be considered as
a measure of liquidated damages. 
  

 -42- 

 29.13 Tenant’s Option to Extend the Term of the Lease. 
  
 A. On the conditions, which conditions Landlord may waive, at its election,
by written notice to Tenant at any time, that Tenant is not in default of its covenants and obligations under the Lease, and that GlycoGenesys, Inc., itself, an Assignee or Affiliated Entity, both as defined in Article 16, are occupying the entirety
of the premises then demised to Tenant, both as of the time of option exercise and as of the commencement of the hereinafter described additional term, Tenant shall have the option to extend the term of this Lease for one (1) additional three (3)
year term, such additional term commencing as of the expiration of the initial term of the Lease. Tenant may exercise such option to extend by giving Landlord written notice on or before the date nine (9) months prior to the expiration date of the
initial term of the Lease. Upon the timely giving of such notice, the term of this Lease shall be deemed extended upon all of the terms and conditions of this Lease, except that Landlord shall have no obligation to construct or renovate the premises
and that the Yearly Rent during such additional term shall be as hereinafter set forth. If Tenant fails to give timely notice, as aforesaid, Tenant shall have no further right to extend the term of this Lease, time being of the essence of this
Article 29.13. 
  
 B. Yearly Rent 
  
 The Yearly Rent during the additional term shall be based upon 95% of the
Fair Market Rental Value, as defined in Article 29.14, as of the commencement of the additional term, of the premises then demised to Tenant, provided however, that in no event shall the sum of Yearly Rent, Operating Expense Excess and Tax Excess
payable by Tenant for any twelve-(12)- month period during the additional term be less than the sum of Yearly Rent, Operating Expense Share and Tax Share payable by Tenant in respect of the twelve-(12)-month period immediately preceding the
commencement of the additional term. 
  
 C. Tenant shall have no
further option to extend the term of the Lease other than the one (1) additional three (3) year term herein provided. 
  
 D. Notwithstanding the fact that upon Tenant’s exercise of the herein option to extend the term of the Lease such extension shall be self-executing,
as aforesaid, the parties shall promptly execute a lease amendment reflecting such additional term after Tenant exercises the herein option, except that the Yearly Rent payable in respect of such additional term may not be set forth in said
amendment. Subsequently, after such Yearly Rent is determined, the parties shall execute a written agreement confirming the same. The execution of such lease amendment shall not be deemed to waive any of the conditions to Tenant’s exercise of
its rights under this Article 29.13, unless otherwise specifically provided in such lease amendment. 
  
 29.14 Definition of Fair Market Rental Value. 
  
 A. “Fair Market Rental Value” shall be computed as of the date in question at the then current annual rental charge (i.e., the sum of Yearly
Rent plus escalation and other charges), including provisions for subsequent increases and other adjustments for leases or agreements to lease then currently being negotiated, or executed in comparable space located in the Complex, or if no leases
or agreements to lease are then currently being negotiated or executed in the Complex, the Fair Market Rental Value shall be determined by reference to leases or agreements to lease then currently being negotiated or executed for comparable space
located elsewhere in first-class office buildings located in East Cambridge, Massachusetts. In determining Fair Market Rental Value, the following factors, among others, shall be taken into account and given effect: size, location of premises, lease
term, condition of building, and services provided by the Landlord. 
  
 B. Dispute as to Fair Market Rental Value 
  
 Landlord shall initially designate Fair Market Rental Value and Landlord shall furnish data in support of such designation. If Tenant disagrees with Landlord’s designation of a Fair Market 
  

 -43- 

 Rental Value, Tenant shall have the right, by written notice given within thirty (30) days after Tenant has been notified
of Landlord’s designation, to submit such Fair Market Rental Value to arbitration. Fair Market Rental Value shall be submitted to arbitration as follows: Fair Market Rental Value shall be determined by impartial arbitrators, one to be chosen by
the Landlord, one to be chosen by Tenant, and a third to be selected, if necessary, as below provided. The unanimous written decision of the two first chosen, without selection and participation of a third arbitrator, or otherwise, the written
decision of a majority of three arbitrators chosen and selected as aforesaid, shall be conclusive and binding upon Landlord and Tenant. Landlord and Tenant shall each notify the other of its chosen arbitrator within ten (10) days following the call
for arbitration and, unless such two arbitrators shall have reached a unanimous decision within thirty (30) days after their designation, they shall so notify the President of the Boston Bar Association (or such organization as may succeed to said
Boston Bar Association) and request him to select an impartial third arbitrator, who shall be an office building owner or a real estate broker dealing with like types of properties, to determine Fair Market Rental Value as herein defined. Such third
arbitrator and the first two chosen shall, subject to commercial arbitration rules of the American Arbitration Association, hear the parties and their evidence and render their decision within thirty (30) days following the conclusion of such
hearing and notify Landlord and Tenant thereof. Landlord and Tenant shall bear the expense of the third arbitrator (if any) equally. The decision of the arbitrator shall be binding and conclusive, and judgment upon the award or decision of the
arbitrator may be entered in the appropriate court of law (as identified on Exhibit 1); and the parties consent to the jurisdiction of such court and further agree that any process or notice of motion or other application to the Court or a Judge
thereof may be served outside the State wherein the Building is situated by registered mail or by personal service, provided a reasonable time for appearance is allowed. If the dispute between the parties as to a Fair Market Rental Value has not
been resolved before the commencement of Tenant’s obligation to pay rent based upon such Fair Market Rental Value, then Tenant shall pay Yearly Rent and other charges under the Lease in respect of the premises in question based upon the Fair
Market Rental Value designated by Landlord until either the agreement of the parties as to the Fair Market Rental Value, or the decision of the arbitrators, as the case may be, at which time Tenant shall pay any underpayment of rent and other
charges to Landlord, or Landlord shall refund any overpayment of rent and other charges to Tenant. 
  
 29.15 Parking. During the term of the Lease, the Landlord will make available to Tenant three (3) monthly parking passes for use in the One Kendall
Square Garage (“OKS Garage”). Tenant shall have no right to sublet, assign, or otherwise transfer said parking passes other than to a subtenant or assignee of Tenant who is permitted to occupy the premises pursuant to Article 16 of the
Lease. Said parking passes shall be paid for by Tenant at the then current prevailing rate in the Garage, as such rate may vary from time to time. The current rate for such passes as of the Execution Date of this Lease is $200.00 per month. If, for
any reason, Tenant shall fail timely to pay the charge for said parking passes, Tenant shall have no further right to such parking passes under this Article 29.15. In addition, during any time period when Tenant is in default beyond the expiration
of any applicable notice and grace periods of its obligations under the Lease, Landlord shall have the right to withdraw Tenant’s use of said parking passes. Said parking passes will be on an unassigned, non-reserved basis, and shall be subject
to reasonable rules and regulations from time to time in force. 
  

 -44- 

 IN WITNESS WHEREOF the parties hereto have executed this Indenture of Lease in multiple copies, each to
be considered an original hereof, as a sealed instrument on the day and year noted in Exhibit 1 as the Execution Date. 
  

													
	 LANDLORD:
	    	 TENANT:

	 ONE KENDALL SQUARE ASSOCIATES, LLC,
 a Delaware limited liability company
	    	 GLYCOGENESYS, INC.

		
	 By:
	 	 One Kendall Square Mezzanine, LLC,

	 	 	 its sole member

			
	 	 	 By:
	 	 One Kendall Square Investors, LLC

	 	 	 	 	 its sole member

				
	 	 	 	 	 By:
	 	 Lincoln-One Kendall Square, LLC

	 	 	 	 	 	 	 its administrative member

							
	 	 	 	 	 	 	 By:
	 	 /s/ W. Frank Cofer

	    	 By:
	 	 /s/ Bradley J Carver

	 	 	 	 	 	 	 Name:
	 	 W. Frank Cofer
	    	 (Name)
	 	 Bradley J Carver

	 	 	 	 	 	 	 Title:
	 	 Senior V.P.
	    	 (Title)
	 	 President and CEO
 Hereunto Duly Authorized

  
 COMMONWEALTH, DISTRICT OR 

STATE OF Massachusetts 
 COUNTY OF Suffolk 
  
 On the Execution Date stated in Exhibit 1, the person above signing this
Lease for and on behalf of the Tenant, to me personally known, did sign and execute this Lease and, being by me duly sworn, did depose and say that he is the officer of the above named Tenant, as noted. 
  

	
	 /s/ Richard A. Gallant

	 Notary Public

	 My Commission Expires: November 21, 2008

  
 COMMONWEALTH OF VIRGINIA

 COUNTY OF ARLINGTON 
  
 On the Execution Date stated in Exhibit 1, the person above signing this Lease for and on behalf of Landlord to me personally known, did sign and execute
this Lease and, being by me duly sworn, did depose and say that he is the duly authorized representative of Landlord. 
  

	
	 /s/ Florabelle L. Williams

	 Notary Public

	 My Commission Expires: January 30, 2005

  

 -45-2000 INCENTIVE STOCK OPTION PLAN

 Exhibit 10(i) 
  
 NEW CENTURY BANCORP, INC. 
 2000 INCENTIVE STOCK OPTION PLAN 
  
 New Century Bancorp, Inc., a North Carolina corporation (hereinafter referred to as the “Corporation”), does herein set forth the terms of the New Century Bancorp, Inc. 2000 Incentive Stock Option Plan (hereinafter referred to as
this “Plan”) which was adopted by the Corporation’s Board of Directors (hereinafter referred to as the “Board”) and which was originally adopted by the Board of Directors of New Century Bank and its shareholders prior to the
creation of the Corporation and the reorganization of New Century Bank as a wholly-owned subsidiary or the Corporation. 
  
 1. Purpose of the Plan. The purpose of this Plan is to provide for the grant of Incentive Stock Options (hereinafter referred to as
“Option” or “Options”) qualifying for the tax treatment afforded by Section 422 of the Internal Revenue Code of 1986, as amended, to eligible officers and employees of the Corporation and its subsidiaries (hereinafter referred to
as “Eligible Employees”) who wish to invest in the Corporation’s common stock (hereinafter referred to as “Common Stock”). The Corporation believes that participation in the ownership of the Corporation by Eligible Employees
will be to the mutual benefit of the Corporation and Eligible Employees. The existence of this Plan will enhance the Corporation’s ability to attract capable individuals to employment in key employee positions. 
  
 2. Administration of the Plan. 
  
 (a) This Plan shall be administered by the Option Committee of the Board
(hereinafter referred to as the “Committee”). The Committee shall consist of at least three (3) members of the Board all of whom shall qualify as disinterested persons as provided in Section 16(b) and the rules and regulations thereunder
of the Securities Exchange Act of 1934, as amended. The members of the Committee shall be appointed by the Board and shall serve at the pleasure of the Board, which may remove members from, add members to, or fill vacancies in the Committee.

  
 (b) The Committee shall decide to whom Options shall be
granted under this Plan, the number of shares as to which Options shall be granted subject to the limitations set forth in Paragraph 11 of this Plan, the Option Price (as hereinafter defined) for such shares and such additional terms and conditions
for such Options as the Committee deems appropriate. 
  
 (c) A
majority of the Committee shall constitute a quorum and the acts of a majority of the members present at any meeting at which a quorum is present, or acts approved unanimously in writing by the Committee, shall be considered as valid actions by the
Committee. 

 (d) The Board may designate any officers or employees of the Corporation to assist in the administration
of this Plan. The Board may authorize such individuals to execute documents on its behalf and may delegate to them such other ministerial and limited discretionary duties as the Board may deem fit. 
  
 3. Shares of Common Stock Subject to the Plan. The maximum
number of shares of Common Stock that shall be available initially for Options under this Plan is one hundred thirteen thousand seventeen (113,017) shares, subject to adjustment as provided in Paragraph 15 hereof. Shares subject to Options which
expire or terminate prior to the issuance of the shares of Common Stock shall again be available for future grants of Options under this Plan. 
  
 4. Eligibility. Options under this Plan may be granted to any Eligible Employee as determined by the Committee. An individual may hold more
than one Option under this or other plans adopted by the Corporation. 
  
 5. Grant of Options. 
  
 (a) The
Committee shall authorize that Options for shares of Common Stock shall be granted to certain Eligible Employees of the Corporation which Options shall be granted based upon the past service and the continued participation of those individuals in
the operations of the Corporation. The allocation of said Options shall be as determined by a majority vote of the Committee at one or more meetings called for such purpose. 
  
 (b) Upon the forfeiture of an Option for whatever reason prior to the expiration of the Option Period (as defined in
Paragraph 10 hereof) the shares of Common Stock covered by a forfeited Option shall be available for the granting of additional Options to Eligible Employees during the remaining term of this Plan upon such terms and conditions as may be determined
by the Committee. The number of additional Options to be granted to specific Eligible Employees during the term of this Plan shall be determined by the Committee as provided in Subparagraph 2(b) hereof. 
  
 6. Vesting of Options. 
  
 (a) Options granted under this Plan shall vest and the right of an Optionee
to exercise an Option shall be nonforfeitable in accordance with the following schedule: 
  

				
	 Date When Such Options Become Vested

	  	 Percentage of
 Such Options Vested

	 
	 Date of grant
	  	0	%
	 First Anniversary of the date of grant
	  	33 1/3	%
	 Second Anniversary of the date of grant
	  	33 1/3	%
	 Third Anniversary of the date of grant
	  	33 1/3	%

  

 2 

 (b) In determining the number of shares of Common Stock under each Option vested under the above vesting
schedule, an Optionee shall not be entitled to exercise an Option to purchase a fractional number of shares of the Common Stock. If the product resulting from multiplying the vested percentage times the Option results in a fractional number of
shares of Common Stock, then an Optionee’s vested right shall be to the whole number of shares of Common Stock disregarding any fractional shares of Common Stock. 
  
 (c) In the event that the employment of an Optionee at the Corporation terminates for any reason, other than the
Optionee’s disability, death, retirement, or following a “change in control” of the Corporation, the Optionee’s Options under this Plan shall be forfeited and shall be available again for grant to Eligible Employees as may be
determined by the Committee. Such forfeiture shall apply whether or not any such Options have been vested. 
  
 (d) In the event that the employment of an Optionee with the Corporation should terminate because of such Optionee’s disability, death, or
retirement, or following a “change in control” of the Corporation prior to the date when all Options allocated to the Optionee would be 100% vested in accordance with the applicable schedule in subparagraph 6(a) above, then,
notwithstanding the foregoing schedule in subparagraph 6(a) above, all Options allocated to such Optionee shall immediately become fully vested and nonforfeitable. For purposes of this Plan, the term disability shall be defined in the same manner as
such term is defined in Section 22(e)(3) of the Internal Revenue Code of 1986, as amended. When used in this Plan, the phrase “change in control” refers to (i) the acquisition by any person, group of persons or entity of the beneficial
ownership or power to vote more than twenty-five (25%) percent of the Corporation’s outstanding stock, (ii) during any period of two (2) consecutive years, a change in the majority of the Board unless the election of each new Director was
approved by at least two-thirds of the Directors then still in office who were Directors at the beginning of such two (2) year period, or (iii) a reorganization, merger, or consolidation of the Corporation with one or more other entities in which
the Corporation is not the surviving entity, or the transfer of all or substantially all of the assets or shares of the Corporation to another person or entity. Further, notwithstanding anything else herein, a transaction or event shall not be
considered a change in control if, prior to the consummation or occurrence of such transaction or event, the Optionee and the Corporation agree in writing that the same shall not be treated as a change in control for purposes of this Plan.

  
 7. Option Price. 
  
 (a) The price per share of each Option granted under this Plan (hereinafter
called the “Option Price”) shall be determined by the Committee as of the effective date of grant of such Option, but in no event shall the Option Price be less than 100% of the fair market value of Common Stock on the date of grant. If an
Optionee (as hereinafter defined) at the time that an Option is granted owns stock possessing more than ten (10%) percent of the total combined voting power of all classes of stock of the Corporation, then the Option Price per share of each Option
granted under this Plan shall be no less than 110% of the fair market value of Common Stock on the date of grant and such Option shall not be exercisable more than five (5) 
  

 3 

 years from the date of grant. An Option shall be considered as granted on the date that the Committee acts to grant such
Option or such later date as the Committee shall specify in an Option Agreement (as hereinafter defined). 
  
 (b) The fair market value of a share of Common Stock shall be determined as follows: (i) if on the date as of which such determination is being made,
Common Stock being valued is admitted to trading on a securities exchange or exchanges for which actual sale prices are regularly reported, or actual sale prices are otherwise regularly published, the fair market value of a share of Common Stock
shall be deemed to be equal to the mean of the closing sale price as reported on each of the five (5) trading days immediately preceding the date as of which such determination is made; provided, however, that, if a closing sale price
is not reported for each of the five (5) trading days immediately preceding the date as of which such determination is made, then the fair market value shall be equal to the mean of the closing sale prices on those trading days for which such price
is available, or (ii) if on the date as of which such determination is made, no such closing sale prices are reported, but quotations for Common Stock being valued are regularly listed on the National Association of Securities Dealers Automated
Quotation System or another comparable system, the fair market value of a share of Common Stock shall be deemed to be equal to the mean of the average of the closing bid and asked prices for such Common Stock quoted on such system on each of the
five (5) trading days preceding the date as of which such determination is made, but if a closing bid and asked price is not available for each of the five (5) trading days, then the fair market value shall be equal to the mean of the average of the
closing bid and asked prices on those trading days during the five-day period for which such prices are available, or (iii) if no such quotations are available, the fair market value of a share of Common Stock shall be deemed to be the average of
the closing bid and asked prices furnished by a professional securities dealer making a market in such shares, as selected by the Committee, for the trading date first preceding the date as of which such determination is made. If the Committee
determines that the price as determined above does not represent the fair market value of a share of Common Stock, the Committee may then consider such other factors as it deems appropriate and then fix the fair market value for the purposes of this
Plan. 
  
 8. Payment of Option Price. Payment for
shares subject to an Option may only be made in cash or in other stock of the Corporation owned by an Eligible Employee or such other person as may be entitled to exercise such Option. Any shares of the Corporation’s stock that are delivered in
payment of the aggregate Option Price shall be valued at their fair market value, as determined by the Board, on the date of exercise of such Option. 
  
 9. Terms and Conditions of Grant of Options. Each Option granted pursuant to this Plan shall be evidenced by a written Incentive Stock
Option Agreement (hereinafter referred to as “Option Agreement”) with each Eligible Employee (hereinafter referred to as “Optionee”) to whom an Option is granted; such agreement shall be substantially in the form attached hereto
as “Exhibit A,” unless the Committee shall adopt a different form and, in each case, may contain such other, different, or additional terms and conditions as the Committee may determine. The Option shall terminate as provided in paragraph
13 hereof. In addition to any further conditions provided herein and in the Option Agreement, the right of an 
  

 4 

 Optionee to exercise the Option to purchase the Option Shares, either in whole or in part, shall be conditioned upon the
completion by the Optionee of one (1) full year of service in the employment of the Corporation following the date of grant of the Option. 
  
 10. Option Period. Each Option Agreement shall set forth a period during which such Option may be exercised (hereinafter referred to as the
“Option Period”); provided, however, that the Option Period shall not exceed ten (10) years after the date of grant of such Option as specified in an Option Agreement. 
  
 11. Limitation on Grant of Incentive Stock Options. Moreover,
notwithstanding any other provision of this Plan, no person shall be granted an Option under this Plan which would cause such person’s “annual vesting amount” to exceed $100,000.00. With respect to any calendar year, a person’s
“annual vesting amount” is the aggregate fair market value of stock subject to incentive stock options with respect to which such options are first exercisable during such calendar year. For purposes of the foregoing, the aggregate fair
market value of stock with respect to which incentive stock options are first exercisable during any calendar year shall be determined by taking into account all such options granted to such person under all incentive stock option plans of the
Corporation or of any of its subsidiaries. 
  
 12. Exercise
of Incentive Stock Options. An Option shall be exercised by written notice to the Committee signed by an Optionee or by such other person as may be entitled to exercise such Option. In the exercise of an Option, the aggregate Option Price
for the shares being purchased may only be paid in cash or in shares of the Corporation’s stock (value as determined by the Committee as of the date of exercise) or any combination thereof and must be accompanied by a notice of exercise. The
written notice shall state the number of shares with respect to which an Option is being exercised and, shall either be accompanied by the payment of the aggregate Option Price for such shares or shall fix a date (not more than ten (10) business
days from the date of such notice) by which the payment of the aggregate Option Price will be made. An Optionee shall not exercise an Option to purchase less than 100 shares, unless the Committee otherwise approves or unless the partial exercise is
for the remaining shares available under such Option. A certificate or certificates for the shares of Common Stock purchased by the exercise of an Option shall be issued in the regular course of business subsequent to the exercise of such Option and
the payment therefor. During the Option Period, no person entitled to exercise any Option granted under this Plan shall have any of the rights or privileges of a shareholder with respect to any shares of Common Stock issuable upon exercise of such
Option, until certificates representing such shares shall have been issued and delivered and the individual’s name entered as a shareholder of record on the books of the Corporation for such shares. 
  
 13. Effect of Termination of Employment, Retirement, Disability or
Death. 
  
 (a) In the event of the termination of
employment of an Optionee either by reason of (i) being discharged for cause or (ii) termination of employment for a reason other than the Optionee’s death, retirement, disability, or following a “change in control” of the 

 

 5 

 Corporation (as defined in Paragraph 6(d)), any Option or Options granted to the Optionee under this Plan, to the extent
not previously exercised or expired, and regardless of any vesting pursuant to Paragraph 6 hereof, shall immediately terminate. The phrase “discharged for cause” shall include termination at the sole discretion of the Board because of such
Optionee’s personal dishonesty, incompetence, willful misconduct, breach of fiduciary duty involving personal profit, intentional failure to perform stated duties, willful violation of any law, rule or regulation (other than traffic violations
or similar offenses), a final cease and desist order, or material breach of any provision of any employment agreement that such Optionee may have with the Corporation. 
  
 (b) In the event of the termination of employment of an Optionee as a result of such Optionee’s retirement, all
Options granted such Optionee shall vest and such Optionee shall have the right to exercise an Option granted under this Plan, to the extent that it has not previously been exercised or expired, for a period of three (3) months after the date of
retirement, but in no event may any Option be exercised later than the end of the Option Period provided in such Option Agreement in accordance with Paragraph 10 hereof. For purposes of this Plan, the term “retirement” shall mean, subject
to Board approval in each instance, (i) termination of an Optionee’s employment under conditions which would constitute retirement under any tax qualified retirement plan maintained by the Corporation or any of its subsidiaries or (ii)
attaining age 65. 
  
 (c) In the event of the termination of
employment of an Optionee by reason of such Optionee’s disability, all Options granted such Optionee shall vest and such Optionee shall have the right to exercise an Option granted under this Plan, to the extent that it has not previously been
exercised or expired, at any time within twelve (12) months after the last date on which such Optionee provides services as an officer or an employee of the Corporation before being disabled, but in no event may any Option be exercised later than
the end of the Option Period provided in such Option Agreement in accordance with Paragraph 10 hereof. For purposes of this Plan, the term “disability” shall be defined in the same manner as such term is defined in Section 22(e)(3) of the
Internal Revenue Code of 1986, as amended. 
  
 (d)
Notwithstanding anything else herein, in the event that an Optionee should die (i) while employed by the Corporation or any of its subsidiaries, (ii) within three (3) months after retirement, (iii) within three (3) months after Optionee’s
termination following a change in control, or (iv) within twelve (12) months after Optionee’s termination by reason of Optionee’s disability, any Option or Options granted to the Optionee under this Plan and not previously exercised or
expired shall vest and shall be exercisable, according to their respective terms, by the personal representative of such Optionee or by any person or persons who acquired such Options by bequest or inheritance from such Optionee, notwithstanding any
limitations placed on the exercise of such Options by this Plan or an Option Agreement, immediately in full and at any time within twelve (12) months after the date of death of such Optionee, but in no event may any Option be exercised later than
the end of the Option Period provided in such Option Agreement in accordance with Paragraph 10 hereof. Any references herein to an Optionee shall be deemed to include any person entitled to exercise an Option under the terms of this Plan after the
death of such Optionee under the terms of this Plan. 
  

 6 

 (e) In the event of the termination of employment of an Optionee following a “change in
control” of the Corporation (as defined in Paragraph 6(d)), all Options granted such Optionee shall vest and such Optionee shall have the right to exercise any Option or Options granted to the Optionee under this Plan, to the extent they have
not previously been exercised or expired, for a period of three (3) months after the date of termination, but in no event may any Option be exercised later than the end of the Option period provided in such Option Agreement in accordance with
Paragraph 10 hereof. 
  
 14. Effect of Plan on Employment
Status. The fact that the Committee has granted an Option to an Optionee under this Plan shall not confer on such Optionee any right to employment with the Corporation or to a position as an officer or an employee of the Corporation, nor
shall it limit the right of the Corporation to remove such Optionee from any position held by the Optionee or to terminate the Optionee’s employment at any time. 
  
 15. Adjustment Upon Changes in Capitalization; Dissolution or Liquidation. 
  
 (a) In the event of a change in the number of shares of Common Stock
outstanding by reason of a stock dividend, stock split, recapitalization, reorganization, merger, exchange of shares, or other similar capital adjustment, prior to the termination of an Optionee’s rights under this Plan, equitable proportionate
adjustments shall be made by the Committee in (i) the number and kind of shares which remain available under this Plan and (ii) the number, kind, and the Option Price of shares subject to unexercised Options under this Plan. The adjustments to be
made shall be determined by the Committee and shall be consistent with such change or changes in the Corporation’s total number of outstanding shares; provided, however, that no adjustment shall change the aggregate Option Price
for the exercise of Options granted under this Plan. 
  
 (b) The
grant of Options under this Plan shall not affect in any way the right or power of the Corporation or its shareholders to make or authorize any adjustment, recapitalization, reorganization, or other change in the Corporation’s capital structure
or its business, or any merger or consolidation of the Corporation, or to issue bonds, debentures, preferred or other preference stock ahead of or affecting Common Stock or the rights thereof, or the dissolution or liquidation of the Corporation, or
any sale or transfer of all or any part of the Corporation’s assets or business. 
  
 (c) Except upon a “change in control” as defined in Paragraph 6(d) hereof, upon the effective date of the dissolution or liquidation of the Corporation, this Plan and any Options granted hereunder, shall
terminate. 
  
 16. Non-Transferability. Any Option
granted under this Plan shall not be assignable or transferable except, in the case of the death of an Optionee, by will or by the laws of descent and distribution. In the event of the death of an Optionee, the personal representative, the executor
or the administrator of such Optionee’s estate, or the person or persons who acquired by bequest or inheritance the rights to exercise such Option, may exercise any Option or portion thereof to the extent not previously exercised by an Optionee
or expired, in accordance with its terms and Subparagraph 13(d) hereof. 
  

 7 

 17. Tax Withholding. The employer of a person granted an Option under this Plan shall have
the right to deduct or otherwise effect a withholding of any amount required by federal or state laws to be withheld with respect to the grant, exercise or the sale of stock acquired upon the exercise of an Option in order for the employer to obtain
a tax deduction otherwise available as a consequence of such grant, exercise or sale, as the case may be. 
  
 18. Listing and Registration of Option Shares. Any Option granted under the Plan shall be subject to the requirement that if at any time the
Committee shall determine, in its discretion, that the listing, registration, or qualification of the shares covered thereby upon any securities exchange or under any state or federal law or the consent or approval of any governmental regulatory
body is necessary or desirable as a condition of, or in connection with, the granting of such Option or the issuance or purchase of shares thereunder, such Option may not be exercised in whole or in part unless and until such listing, registration,
qualification, consent, or approval shall have been effected or obtained free of any conditions not acceptable to the Committee. 
  
 19. Exculpation and Indemnification. In connection with this Plan, no member of the Committee shall be personally liable for any act or
omission to act in such person’s capacity as a member of the Committee, nor for any mistake in judgment made in good faith, unless arising out of, or resulting from, such person’s own bad faith, gross negligence, willful misconduct, or
criminal acts. To the extent permitted by applicable law and regulation, the Corporation shall indemnify and hold harmless the members of the Committee, and each other officer or employee of the Corporation or of any subsidiary thereof to whom any
duty or power relating to the administration or interpretation of this Plan may be assigned or delegated, from and against any and all liabilities (including any amount paid in settlement of a claim with the approval of the Board) and any costs or
expenses (including counsel fees) incurred by such persons arising out of, or as a result of, any act or omission to act in connection with the performance of such person’s duties, responsibilities, and obligations under this Plan, other than
such liabilities, costs, and expenses as may arise out of, or result from, the bad faith, gross negligence, willful misconduct, or criminal acts of such persons. 
  
 20. Amendment and Modification of the Plan. The Board may at any time and from time to time amend or modify
this Plan (including the form of Option Agreement) in any respect consistent with applicable regulations; provided, however, that no amendment or modification shall be made that increases the total number of shares of Common Stock
covered by this Plan or effects any change in the categories of persons who may receive Options under this Plan or materially increases the benefits accruing to Optionees under this Plan unless such change is approved by the holders of a majority of
the issued and outstanding shares of Common Stock. Any amendment or modification of this Plan shall not materially reduce the benefits under any Option theretofore granted to an Optionee under this Plan without the consent of such Optionee or the
transferee thereof in the event of the death of such Optionee. 
  

 8 

 21. Termination and Expiration of the Plan. This Plan may be abandoned, suspended, or
terminated at any time by the Board; provided, however, that abandonment, suspension, or termination of this Plan shall not affect any Options then outstanding under this Plan. No Option shall be granted pursuant to this Plan after ten
(10) years from the effective date of this Plan as provided in Paragraph 22 hereof. 
  
 22. Effective Date; Shareholder Approval; Regulatory Approval. This Plan was effective upon its approval as the New Century Bank 2000 Incentive Stock Option Plan by the requisite number of shareholders
of New Century Bank on June 29, 2000 (the “Effective Date”). 
  
 23. Captions and Headings; Gender and Number. Captions and paragraph headings used herein are for convenience only, do not modify or affect the meaning of any provision herein, are not a part hereof, and shall not serve as a
basis for interpretation or in construction of this Plan. As used herein, the masculine gender shall include the feminine and neuter, the singular number the plural, and vice versa, whenever such meanings are appropriate. 
  
 24. Expenses of Administration of Plan. All costs and expenses
incurred in the operation and administration of this Plan shall be borne by the Corporation or one or more of its subsidiaries. 
  
 25. Governing Law. Without regard to the principles of conflicts of laws, the laws of the State of North Carolina shall govern and control
the validity, interpretation, performance, and enforcement of this Plan. 
  
 26. Inspection of Plan. A copy of this Plan, and any amendments thereto or modification thereof, shall be maintained by the Secretary of the Corporation and shall be shown to any proper person making
inquiry about it. 
  

 9 

			
	 STATE OF NORTH CAROLINA
	 	EXHIBIT A
	 COUNTY OF HARNETT
	 	 

  
 INCENTIVE STOCK
OPTION AGREEMENT 
  
 THIS INCENTIVE STOCK OPTION AGREEMENT
(hereinafter referred to as this “Agreement”) is made and entered into as of this          day of
                    ,             , between NEW CENTURY BANCORP, INC., a
North Carolina corporation (hereinafter referred to as the “Corporation”), and                      a resident of
                     County, North Carolina (hereinafter referred to as the “Optionee”). 
  
 WHEREAS, the Board of Directors of the Corporation (hereinafter referred to
as the “Board”) has adopted the New Century Bancorp, Inc. 2000 Incentive Stock Option Plan (hereinafter referred to as the “Plan”) which was originally adopted by the Board of Directors of New Century Bank and its shareholders
prior to the creation of the Corporation and the reorganization of New Century Bank as a wholly-owned subsidiary of the Corporation; and 
  
 WHEREAS, the shareholders of New Century Bank at an annual meeting duly called and held on June 29, 2000, approved the Plan (the “Effective
Date”); and 
  
 WHEREAS, the Plan provides that the
Compensation Committee (hereinafter referred to as the “Committee”) of the Board will make available to certain officers and employees of the Corporation and its subsidiaries (the “Employer”) the right to purchase shares of the
Corporation’s common stock (hereinafter referred to as “Common Stock”); and 
  
 WHEREAS, the Committee has determined that the Optionee should be granted an option to purchase shares of Common Stock under the Plan; 
  
 NOW, THEREFORE, the Corporation and the Optionee agree as follows: 
  
 1. Date of Grant of Option. The date of grant of the option
granted under this Agreement is the          day of                     ,
            . 
  
 2. Grant of Option. Pursuant to the Plan, the Corporation grants to the Optionee the right (hereinafter referred to as the “Option”) to purchase from the Corporation all or any part of an
aggregate of
                                        
             (            ) shares of Common Stock (hereinafter referred to as the “Option Shares”) which
shall be authorized but unissued shares. 
  
 3. Vesting of
Options. 
  
 (a) Periodic Vesting. Subject to
subparagraphs 3(b) and 3(c) below, the Option shall vest and become exercisable in accordance with the following schedule: 

				
	 Date of grant
	  	0	%
	 First Anniversary of the date of grant
	  	33 1/3	%
	 Second Anniversary of the date of grant
	  	33 1/3	%
	 Third Anniversary of the date of grant
	  	33 1/3	%

  
 (b) Fractional
Option Shares. In determining the number of Option Shares vested under the above vesting schedule, an Optionee shall not be entitled to exercise an Option for a fractional number of Option Shares. If the product resulting from multiplying the
vested percentage times the allocated Option results in a fractional number of Option Shares, then the Optionee’s vested right shall be to the whole number of Option Shares, disregarding any fractional number. 
  
 (c) Accelerated Vesting. Notwithstanding paragraph 3(a) above, all
Options previously not vested and subject to forfeiture shall become 100% vested and the right of the Optionee to exercise such Options shall become nonforfeitable upon the death, disability or retirement of the Optionee, or upon a “change in
control” of the Corporation. For purposes of this Agreement, the term “disability” shall be defined in the same manner as such term is defined in Section 22(e)(3) of the Internal Revenue Code of 1986, as amended (the
“Code”). 
  
 (d) Other Terminations of
Employment. In the event any Optionee’s employment with the Corporation terminates for any reason, other than the Optionee’s death, disability, retirement, or following a change in control of the Corporation, then the Optionee’s
Options, to the extent unexercised, shall be forfeited and shall be available again for grant to other officers and employees as may be determined by the Committee. Such forfeiture shall apply whether or not any such options have vested. 

 
 4. Option Price. The price to be paid for the Option Shares
shall be                                      and
        /100 Dollars ($                            )
per share (hereinafter referred to as the “Option Price”) which is the fair market value of the Option Shares as determined by the Committee as of the date of grant of this Option. 
  
 5. When and Extent to which Options may be Exercised. Subject
to any further restrictions in this Agreement, the right of the Optionee to exercise the Option to purchase the Option Shares, either in whole or in part, shall be conditioned upon the completion by the Optionee of one (1) full year of service in
the employment of the Employer following the date of grant of the Option set forth in paragraph 1 hereof. At such time as the Option shall become exercisable in accordance with this Agreement, the Optionee, in his discretion, may exercise all or any
portion of the Option, subject to paragraphs 3 and 7 hereof. The Option shall terminate as provided in paragraph 8 hereof. 
  
 6. Change in Control. When used herein, the phrase “change in control” refers to (i) the acquisition by any person, group of
persons or entity of the beneficial ownership 
  

 2 

 or power to vote more than twenty-five (25%) percent of the Corporation’s outstanding stock, (ii) during any period
of two (2) consecutive years, a change in the majority of the Board unless the election of each new Director was approved by at least two-thirds of the Directors then still in office who were Directors at the beginning of such two (2) year period or
(iii) a reorganization, merger, or consolidation of the Corporation with one or more other entities in which the Corporation is not the surviving entity, or the transfer of all or substantially all of the assets or shares of the Corporation to
another person or entity. Further, notwithstanding anything else herein, a transaction or event shall not be considered a change in control if, prior to the consummation or occurrence of such transaction or event, the Optionee and the Corporation
agree in writing that the same shall not be treated as a change in control for purposes of this Agreement. 
  
 7. Method of Exercise. The Option shall be exercised by written notice to the Committee signed by the Optionee or by such other person as
may be entitled to exercise the Option. In the exercise of the Option, the aggregate Option Price for the shares being purchased may only be paid in cash and must be accompanied by a notice of exercise. The written notice shall state the number of
shares with respect to which the Option is being exercised and, shall either be accompanied by the payment of the aggregate Option Price for such shares or shall fix a date (not more than ten (10) business days from the date of such notice) by which
the payment of the aggregate Option Price will be made. The Optionee shall not exercise the Option to purchase less than one hundred (100) shares, unless the Committee otherwise approves or unless the partial exercise is for the remaining shares
available under the Option. A certificate or certificates for the shares of Common Stock purchased by the exercise of the Option shall be issued in the regular course of business subsequent to the exercise of the Option and the payment therefor.
During the Option Period, no person entitled to exercise the Option granted under this Agreement shall have any of the rights or privileges of a shareholder with respect to any shares of Common Stock issuable upon exercise of the Option, until
certificates representing such shares shall have been issued and delivered and the individual’s name entered as a shareholder of record on the books of the Corporation for such shares. 
  
 8. Termination of Option. The Option shall terminate as
follows: 
  
 (a) Except as provided in subparagraphs (b), (c),
(d) and (e) below, the Option granted under this Agreement, to the extent that it has not been exercised or expired, and regardless of any vesting pursuant to paragraph 3 hereof, shall terminate on the earlier of (i) the date that the Optionee is
discharged for cause, (ii) the date the Optionee gives notice that the Optionee terminates his or her employment with the Employer for a reason other than retirement or disability or following a “change in control” of the Corporation or
(iii) the date which is ten (10) years from the date of grant of the Option set forth in paragraph 1 hereof. Options which terminate within ten (10) years from the date of grant set forth in paragraph 1 shall be available again for grant to certain
officers and employees as may be determined by the Committee. The phrase “discharged for cause” shall include termination at the sole discretion of the Board of Directors of the Employer of the Optionee because of the Optionee’s
personal dishonesty, incompetence, willful misconduct, breach of fiduciary duty involving personal profit, intentional failure to perform stated duties, willful violation of any law, rule or regulation (other than traffic violations or similar
offenses) or a final cease and desist order, or material breach of any provision of any employment agreement that the Optionee may have with the Employer. 
  

 3 

 (b) In the event the Optionee retires prior to the date which is ten (10) years after the date of grant
of the Option, the Optionee shall have the right to exercise the Option, to the extent that it has not been exercised by the Optionee or expired, immediately in full and at any time within three (3) months after the date of retirement, but in no
event may the Option be exercised later than ten (10) years after the date of grant of the Option set forth in paragraph 1 hereof. For purposes of this Agreement, the term “retirement” shall mean, subject to Board approval in each
instance, (i) termination of the Optionee’s employment under conditions which would constitute retirement under any tax qualified retirement plan maintained by the Employer or (ii) attaining age 65. 
  
 (c) In the event the Optionee becomes disabled prior to the date which is
ten (10) years after the date of grant of the Option, the Optionee shall have the right to exercise the Option, to the extent that it has not been exercised by the Optionee or expired, notwithstanding any limitation placed on the exercise of the
Option by the Plan or by this Agreement, immediately in full and at any time within twelve (12) months after the last date on which the Optionee provided services as an officer or an employee of the Employer before being disabled, but in no event
may the Option be exercised later than ten (10) years after the date of grant of the Option set forth in paragraph 1 hereof. For purposes of this Agreement, the term “disability” shall be defined in the same manner as such term is defined
in Section 22(e)(3) of the Code. 
  
 (d) Notwithstanding anything
else herein, in the event that an Optionee should die (i) while employed by the Corporation or any of its subsidiaries, (ii) within three (3) months after retirement, (iii) within three (3) months after Optionee’s termination following a change
in control, or (iv) within twelve (12) months after Optionee’s termination by reason of Optionee’s disability, the Option, to the extent it has not been exercised by the Optionee or expired, shall be exercisable, according to its terms, by
the personal representative, the executor or administrator of the Optionee’s estate, or any person or persons who acquired the Option by bequest or inheritance from the Optionee, notwithstanding any limitation placed on the exercise of the
Option by the Plan or by this Agreement, immediately in full and at any time within twelve (12) months after the date of death of the Optionee, but in no event may the Option be exercised later than ten (10) years from the date of grant of the
Option as set forth in paragraph 1 hereof. 
  
 (e) In the event
the Optionee’s employment with the Employer is terminated following a “change in control” of the Corporation, the Optionee shall have the right to exercise the Option, to the extent that it has not been exercised by the Optionee or
expired, immediately in full and at any time within three (3) months after the date of termination, but in no event may the Option be exercised later than ten (10) years after the date of grant of the Options set forth in paragraph 1 hereof.

  

 4 

 9. Effect of Agreement on Employment Status of Optionee. The fact that the Committee has
granted the Option to the Optionee under this Agreement shall not confer on the Optionee any right to employment with the Employer or to a position as an officer or an employee of the Employer, nor shall it limit the right of the Employer to remove
the Optionee from any position held by the Optionee or to terminate his or her employment at any time. 
  
 10. Listing and Registration of Option Shares. 
  
 (a) The Corporation’s obligation to issue shares of Common Stock upon exercise of the Option is expressly conditioned upon (i) the completion by the
Corporation of any registration or other qualification of such shares under any state or federal law or regulations or rulings of any government regulatory body or (ii) the making of such investment representations or other representations and
agreements by the Optionee or any person entitled to exercise the Option in order to comply with the requirements of any exemption from any such registration or other qualification of the Option Shares which the Committee shall, in its sole
discretion, deem necessary or advisable. Notwithstanding the foregoing, the Corporation shall be under no obligation to register or qualify the Option Shares under any state or federal law. The required representations and agreements referenced
above may include representations and agreements that the Optionee, or any other person entitled to exercise the Option, (i) is purchasing such shares on his or her own behalf as an investment and not with a present intention of distribution or
re-sale and (ii) agrees to have placed upon any certificates representing the Option Shares a legend setting forth any representations and agreements which have been given to the Committee or a reference thereto and stating that such shares may not
be transferred except in accordance with all applicable state and federal securities laws and regulations, and further representing that, prior to making any sale or other disposition of the Option Shares, the Optionee, or any other person entitled
to exercise the Option, will give the Corporation notice of the intention to sell or dispose of such shares not less than five (5) days prior to such sale or disposition. 
  
 11. Adjustment Upon Change in Capitalization; Dissolution or Liquidation. 
  
 (a) In the event of a change in the number of shares of Common Stock
outstanding by reason of a stock dividend, stock split, recapitalization, reorganization, merger, exchange of shares, or other similar capital adjustment, prior to the termination of the Optionee’s rights under this Agreement, equitable
proportionate adjustments shall be made by the Committee in the number, kind, and the Option Price of shares subject to the unexercised portion of the Option granted under this Agreement. The adjustments to be made shall be determined by the
Committee and shall be consistent with such change or changes in the Corporation’s total number of outstanding shares; provided, however, that no adjustment shall change the aggregate Option Price for the exercise of the Option
granted under this Agreement. 
  
 (b) The grant of the Option
under this Agreement shall not affect in any way the right or power of the Corporation or its shareholders to make or authorize any adjustment, recapitalization, reorganization, or other change in the Corporation’s capital structure 

 

 5 

 or its business, or any merger or consolidation of the Corporation, or to issue bonds, debentures, preferred or other
preference stock ahead of or affecting Common Stock or the rights thereof, or the dissolution or liquidation of the Corporation, or any sale or transfer of all or any part of the Corporation’s assets or business. 
  
 (c) Except upon a change in control as set forth in paragraph 6 hereof, upon
the effective date of the dissolution or liquidation of the Corporation, the Option granted under this Agreement shall terminate. 
  
 12. Nontransferability. The Option granted under this Agreement shall not be assignable or transferable except, in the event of the death of
the Optionee, by will or by the laws of descent and distribution. In the event of the death of the Optionee, the personal representative, the executor or the administrator of the Optionee’s estate, or the person or persons who acquired by
bequest or inheritance the right to exercise the Option may exercise the unexercised Option or a portion thereof, in accordance with the terms of this Agreement, prior to the date which is ten (10) years after the date of grant of Option as set
forth in paragraph 1 hereof. 
  
 13. Notices. Any
notice or other communications required or permitted to be given under this Agreement shall be in writing and shall be deemed to have been sufficiently given when delivered personally or when deposited in the United States mail as Certified Mail,
return receipt requested, properly addressed with postage prepaid, if to the Corporation at its principal office at 700 West Cumberland Street, Dunn, North Carolina 28334; and, if to the Optionee to his or her last address appearing on the books of
the Employer. The Employer and the Optionee may change their address or addresses by giving written notice of such change as provided herein. Any notice or other communication hereunder shall be deemed to have been given on the date actually
delivered or as of the third (3rd) business day following the date mailed, as the case may be. 
  
 14. Construction Controlled by Plan. This Agreement shall be construed so as to be consistent with the Plan; and the provisions of the Plan shall be deemed to be controlling in the event that any
provision hereof should appear to be inconsistent therewith. The Optionee hereby acknowledges receipt of a copy of the Plan from the Corporation. 
  
 15. Severability. Whenever possible, each provision of this Agreement shall be interpreted in such a manner as to be valid and enforceable
under applicable law, but if any provision of this Agreement is determined to be unenforceable, invalid or illegal, the validity of any other provisions or part thereof, shall not be affected thereby and this Agreement shall continue to be binding
on the parties hereto as if such unenforceable, invalid or illegal provision or part thereof had not been included herein. 
  
 16. Modification of Agreement; Waiver. This Agreement may be modified, amended, suspended, or terminated, and any terms, representations or
conditions may be waived, but only by written instrument signed by each of the parties hereto. No waiver hereunder shall constitute a waiver with respect to any subsequent occurrence or other transaction hereunder or of any other provision hereof.

  

 6 

 17. Captions and Headings; Gender and Number. Captions and paragraph headings used herein
are for convenience only, do not modify or affect the meaning of any provision herein, are not a part hereof, and shall not serve as a basis for interpretation or in construction of this Agreement. As used herein, the masculine gender shall include
the feminine and neuter, the singular number the plural, and vice versa, whenever such meanings are appropriate. 
  
 18. Governing Law; Venue and Jurisdiction. Without regard to the principles of conflicts of laws, the laws of the State of North Carolina
shall govern and control the validity, interpretation, performance, and enforcement of this Agreement. The parties hereto agree that any suit or action relating to this Agreement shall be instituted and prosecuted in the courts of the County of
Harnett, State of North Carolina, and each party hereby does waive any right or defense relating to such jurisdiction and venue. 
  
 19. Binding Effect. This Agreement shall be binding upon and shall inure to the benefit of the Corporation, its successors and assigns, and
shall be binding upon and inure to the benefit of the Optionee, his heirs, legatees, personal representatives, executors, and administrators. 
  
 20. Entire Agreement. This Agreement constitutes and embodies the entire understanding and agreement of the parties hereto and, except as
otherwise provided hereunder, there are no other agreements or understandings, written or oral, in effect between the parties hereto relating to the matters addressed herein. 
  
 21. Counterparts. This Agreement may be executed in any number of counterparts, each of which when executed
and delivered shall be deemed an original, but all of which taken together shall constitute one and the same instrument. 
  

 7 

 IN WITNESS WHEREOF, the Corporation, has caused this instrument to be executed in its corporate
name by its Chairman and attested by its Secretary or one of its Assistant Secretaries, and its corporate seal to be hereto affixed, all by authority of its Board of Directors first duly given, and the Optionee has hereunto set his or her hand and
adopted as his or her seal the typewritten word “SEAL” appearing beside his or her name, all done this the day and year first above written. 
  

			
	NEW CENTURY BANCORP, INC.
		
	 By:
	 	  

	 	 	 C. L. Tart, Chairman

  

	
	 ATTEST:

	
	
                         , Corporate Secretary

  
 [CORPORATE SEAL] 
  

			
	OPTIONEE
		
	 By:
	 	                                       
                          (SEAL)

	 	 	  

  

 8 

 EXHIBIT A 
  
 NOTICE OF EXERCISE OF 
 INCENTIVE
STOCK OPTION 
  

	 	To:	The Compensation Committee of the Board of Directors of 

 New Century Bancorp, Inc. 
  
 The undersigned hereby elects to purchase
             whole shares of Common Stock of New Century Bancorp, Inc. (the “Corporation”) pursuant to the Incentive Stock Option granted to the undersigned in that certain
Incentive Stock Option Agreement between the Corporation and the undersigned dated the                      day of
                ,             . The aggregate purchase price for such Shares is
$            , which amount is (i) being tendered herewith, (ii) will be tendered on or before
                            ,
             (cross out provision which does not apply) in cash and/or stock of the Corporation owned by me, and I request that a value as of the date of exercise of the
Option be placed on any stock being tendered in payment of the purchase price. The effective date of this election shall be
                            ,
            , or the date of receipt of this Notice by the Corporation if later. 
  
 Executed this                      day of
                    ,             , at
                                        .

  

	
	

	

	
	
 (Social Security Number)

  

 9

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