Document:

exv10w9

 

EXHIBIT 10.9

STANDARD OFFICE LEASE FOR 88 KEARNY

BY AND BETWEEN

TEACHERS INSURANCE AND ANNUITY ASSOCIATION OF AMERICA,

for the benefit of its Separate Real Estate Account,

AS LANDLORD,

AND

THOMAS WEISEL PARTNERS GROUP, LLC,

a Delaware limited liability company

AS TENANT

SUITES 200, 300, 400 and 500

88 KEARNY STREET, SAN FRANCISCO, CALIFORNIA 94108

 

 

TABLE OF CONTENTS

	 	 	 	 	 
	 	 	Page	 
	ARTICLE 1
	 	 	 	 
	 
	 	 	 	 
	BASIC LEASE PROVISIONS 
	 	 	1	 
	 
	 	 	 	 
	ARTICLE 2
	 	 	 	 
	 
	 	 	 	 
	TERM/PREMISES 
	 	 	3	 
	 
	 	 	 	 
	ARTICLE 3
	 	 	 	 
	 
	 	 	 	 
	RENTAL 
	 	 	4	 
	(a) Basic Rental 
	 	 	4	 
	(b) Increase in Direct Costs 
	 	 	4	 
	(c) Definitions 
	 	 	4	 
	(d) Determination of Payment 
	 	 	7	 
	 
	 	 	 	 
	ARTICLE 4
	 	 	 	 
	 
	 	 	 	 
	SECURITY DEPOSIT AND LETTER OF CREDIT 
	 	 	10	 
	 
	 	 	 	 
	ARTICLE 5
	 	 	 	 
	 
	 	 	 	 
	HOLDING OVER 
	 	 	13	 
	 
	 	 	 	 
	ARTICLE 6
	 	 	 	 
	 
	 	 	 	 
	PERSONAL PROPERTY TAXES 
	 	 	13	 
	 
	 	 	 	 
	ARTICLE 7
	 	 	 	 
	 
	 	 	 	 
	USE 
	 	 	14	 
	 
	 	 	 	 
	ARTICLE 8
	 	 	 	 
	 
	 	 	 	 
	CONDITION OF PREMISES 
	 	 	16	 
	 
	 	 	 	 
	ARTICLE 9
	 	 	 	 
	 
	 	 	 	 
	REPAIRS AND ALTERATIONS 
	 	 	17	 

(i)

 

	 	 	 	 	 
	 	 	Page	 
	ARTICLE 10
	 	 	 	 
	 
	 	 	 	 
	LIENS 
	 	 	19	 
	 
	 	 	 	 
	ARTICLE 11
	 	 	 	 
	 
	 	 	 	 
	PROJECT SERVICES 
	 	 	20	 
	 
	 	 	 	 
	ARTICLE 12
	 	 	 	 
	 
	 	 	 	 
	RIGHTS OF LANDLORD 
	 	 	22	 
	 
	 	 	 	 
	ARTICLE 13
	 	 	 	 
	 
	 	 	 	 
	INDEMNITY; EXEMPTION OF LANDLORD FROM LIABILITY 
	 	 	22	 
	(a) Indemnity 
	 	 	22	 
	 
	 	 	 	 
	(b) Exemption of Landlord from Liability 
	 	 	22	 
	 
	 	 	 	 
	ARTICLE 14
	 	 	 	 
	 
	 	 	 	 
	INSURANCE 
	 	 	23	 
	(a) Tenant’s Insurance 
	 	 	23	 
	(b) Form of Policies 
	 	 	24	 
	(c) Landlord’s Insurance 
	 	 	24	 
	(d) Waiver of Subrogation 
	 	 	25	 
	(e) Compliance with Law 
	 	 	25	 
	 
	 	 	 	 
	ARTICLE 15
	 	 	 	 
	 
	 	 	 	 
	ASSIGNMENT AND SUBLETTING 
	 	 	26	 
	 
	 	 	 	 
	ARTICLE 16
	 	 	 	 
	 
	 	 	 	 
	DAMAGE OR DESTRUCTION 
	 	 	29	 
	 
	 	 	 	 
	ARTICLE 17
	 	 	 	 
	 
	 	 	 	 
	SUBORDINATION 
	 	 	30	 
	 
	 	 	 	 
	ARTICLE 18
	 	 	 	 
	 
	 	 	 	 
	EMINENT DOMAIN 
	 	 	31	 

(ii)

 

	 	 	 	 	 
	 	 	Page	 
	ARTICLE 19
	 	 	 	 
	 
	 	 	 	 
	DEFAULT 
	 	 	31	 
	 
	 	 	 	 
	ARTICLE 20
	 	 	 	 
	 
	 	 	 	 
	REMEDIES 
	 	 	33	 
	 
	 	 	 	 
	ARTICLE 21
	 	 	 	 
	 
	 	 	 	 
	TRANSFER OF LANDLORD’S INTEREST 
	 	 	35	 
	 
	 	 	 	 
	ARTICLE 22
	 	 	 	 
	 
	 	 	 	 
	BROKER 
	 	 	35	 
	 
	 	 	 	 
	ARTICLE 23
	 	 	 	 
	 
	 	 	 	 
	PARKING 
	 	 	36	 
	 
	 	 	 	 
	ARTICLE 24
	 	 	 	 
	 
	 	 	 	 
	WAIVER 
	 	 	36	 
	 
	 	 	 	 
	ARTICLE 25
	 	 	 	 
	 
	 	 	 	 
	ESTOPPEL CERTIFICATE 
	 	 	37	 
	 
	 	 	 	 
	ARTICLE 26
	 	 	 	 
	 
	 	 	 	 
	LIABILITY OF LANDLORD 
	 	 	38	 
	 
	 	 	 	 
	ARTICLE 27
	 	 	 	 
	 
	 	 	 	 
	INABILITY TO PERFORM 
	 	 	38	 
	 
	 	 	 	 
	ARTICLE 28
	 	 	 	 
	 
	 	 	 	 
	HAZARDOUS WASTE 
	 	 	39	 
	 
	 	 	 	 
	ARTICLE 29
	 	 	 	 
	 
	 	 	 	 
	SURRENDER OF PREMISES; REMOVAL OF PROPERTY 
	 	 	41	 

(iii)

 

	 	 	 	 	 
	 	 	Page	 
	ARTICLE 30
	 	 	 	 
	 
	 	 	 	 
	EXISTING OCCUPANCY 
	 	 	42	 
	(a) Delays in Delivery 
	 	 	42	 
	(b) Partial Tenders 
	 	 	43	 
	 
	 	 	 	 
	ARTICLE 31
	 	 	 	 
	 
	 	 	 	 
	OPTION TO RENEW 
	 	 	43	 
	 
	 	 	 	 
	ARTICLE 32
	 	 	 	 
	 
	 	 	 	 
	RIGHT OF FIRST OFFER
	 	 	 	 
	 
	 	 	 	 
	 
	 	 	44	 
	ARTICLE 33
	 	 	 	 
	 
	 	 	 	 
	MISCELLANEOUS 
	 	 	45	 
	(a) Severability; Entire Agreement 
	 	 	46	 
	(b) Attorneys’ Fees; Waiver of Jury Trial 
	 	 	46	 
	(c) Time of Essence 
	 	 	47	 
	(d) Headings; Joint and Several 
	 	 	47	 
	(e) Reserved Area 
	 	 	47	 
	(f) NO OPTION 
	 	 	47	 
	(g) Use of Project Name; Improvements 
	 	 	47	 
	(h) Rules and Regulations
	 	 	48	 
	(i) Quiet Possession
	 	 	48	 
	(j) Rent
	 	 	48	 
	(k) Successors and Assigns
	 	 	48	 
	(l) Notices
	 	 	48	 
	(m) Right of Landlord to Perform
	 	 	49	 
	(n) Access, Changes in Project, Facilities, Name
	 	 	50	 
	(o) Signing Authority
	 	 	50	 
	(p) Identification of Tenant
	 	 	51	 
	(q) Survival of Obligations
	 	 	52	 
	(r) Confidentiality
	 	 	52	 
	(s) Governing Law
	 	 	53	 
	(u) Exhibits and Addendum
	 	 	53	 
	(v) Tenant Signage
	 	 	53	 

(iv)

 

	 	 	 
	Exhibit “A”

	 	Floor Plans
	Exhibit “B”

	 	Rules and Regulations
	Exhibit “C”

	 	Notice of Lease Term Dates and Tenant’s Proportionate Share
	Exhibit “D”

	 	Tenant Work Letter

(v)

 

INDEX OF DEFINED TERMS

	 	 	 	 	 
	DEFINED TERMS	 	PAGE	 
	Additional Rent 
	 	 	4	 
	Alterations
	 	 	18	 
	Approved Working Drawings
	 	Exhibit D
	Architect
	 	Exhibit D
	Base Year
	 	 	4	 
	Base, Shell and Core
	 	Exhibit D
	Basic Rental 
	 	 	2	 
	Brokers 
	 	 	2	 
	Code
	 	Exhibit D
	Commencement Date 
	 	 	1	 
	Construction Drawings 
	 	Exhibit D
	Contractor 
	 	Exhibit D
	Cost Proposal
	 	Exhibit D
	Cost Proposal Delivery Date
	 	Exhibit D
	Direct Costs
	 	 	4	 
	Engineers
	 	Exhibit D
	Estimate 
	 	 	8	 
	Estimate Statement 
	 	 	8	 
	Estimated Excess 
	 	 	8	 
	Event of Default
	 	 	31	 
	Excess 
	 	 	8	 
	Expiration Date 
	 	 	1	 
	Final Space Plan
	 	Exhibit D
	Final Working Drawings
	 	Exhibit D
	First Month’s Rent 
	 	 	3	 
	Force Majeure
	 	 	38	 
	Hazardous Material
	 	 	40	 
	Improvement Allowance
	 	Exhibit D
	Improvement Allowance Items
	 	Exhibit D
	Improvements
	 	Exhibit D
	Landlord 
	 	 	1	 
	Landlord Supervision Fee
	 	Exhibit D
	Laws
	 	 	41	 
	Lease 
	 	 	1	 
	Lease Year 
	 	 	3	 
	Operating Costs 
	 	 	5	 
	Over-Allowance Amount
	 	Exhibit D
	Partnership Tenant
	 	 	51	 
	Permits
	 	Exhibit D

(vi)

 

	 	 	 	 	 
	DEFINED TERMS	 	PAGE	 
	Permitted Use 
	 	 	2	 
	Premises 
	 	 	1	 
	Project 
	 	 	1	 
	Real Property 
	 	 	5	 
	Representative
	 	 	38	 
	Review Period 
	 	 	9	 
	Security Deposit 
	 	 	2	 
	Specifications
	 	Exhibit D
	Square Footage
	 	 	1	 
	Standard Improvement Package
	 	Exhibit D
	Statement
	 	 	8	 
	Substantial Completion
	 	Exhibit D
	Tax Costs 
	 	 	5	 
	Tenant 
	 	 	1	 
	Tenant Delays
	 	Exhibit D
	Tenant Improvements
	 	 	17	 
	Tenant’s Proportionate Share 
	 	 	2	 
	Term 
	 	 	1	 
	Time Deadlines
	 	Exhibit D
	Transfer 
	 	 	27	 
	Transfer Premium 
	 	 	27	 
	Transferee 
	 	 	27	 

(vii)

 

STANDARD OFFICE LEASE

          This Standard Office Lease (“Lease”) is made and entered into as of June 21, 2000, by and
between TEACHERS INSURANCE AND ANNUITY ASSOCIATION OF AMERICA, for the benefit of its Separate Real
Estate Account (“Landlord”), and THOMAS WEISEL PARTNERS GROUP, LLC, a Delaware limited liability
company (“Tenant”).

          Landlord hereby leases to Tenant and Tenant hereby leases from Landlord (subject to the terms
of Article 30 of this Lease) the premises initially described as Suite Nos. 200, 300, 400
and 500, as designated on the plan attached hereto and incorporated herein as Exhibit “A” (each and
collectively, the “Premises”), of the project (“Project”) now known as 88 Kearny Street, San
Francisco, California 94108, for the Term and upon the terms and conditions hereinafter set forth,
and Landlord and Tenant hereby agree as follows:

ARTICLE 1

BASIC LEASE PROVISIONS

	 	 	 	 	 
	A.

	 	Term:
	 	The period of time beginning with Commencement Date (defined below) and ending 132 months
thereafter.
	 
	 	 	 	 
	 

	 	Commencement Date:
	 	The date which is ninety (90) days after the date on which Landlord tenders possession of any
portion of the Premises to Tenant, pursuant to Article 30, below.
	 
	 	 	 	 
	 

	 	Expiration Date:
	 	The date immediately preceding the eleventh (11th) anniversary of the Commencement Date; provided,
however, that if the Commencement Date is a date other than the first day of a month, the
Expiration Date shall be the last day of the month which is One Hundred Thirty-Two (132) months
after the month in which the Commencement Date falls, unless extended or earlier terminated
pursuant to this Lease.
	 
	 	 	 	 
	B.

	 	Square Footage:
	 	53,954 rentable square feet

 

 

	 	 	 	 	 
	C.

	 	Basic Rental:	 	 

	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	Monthly
	 	 	 	 	 	 	 	 	 	 	Basic Rental
	 	 	Annual	 	Monthly	 	Per Rentable
	Lease Year	 	Basic Rental	 	Basic Rental	 	Square Foot
	Commencement Date
through the date which
is 5 years after the
Commencement Date (Lease
Years 1-5)
	 	$	4,046,550.00	 	 	$	337,212.50	 	 	$6.25/rsf
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	The date which is 5
years after the
Commencement Date
through the Expiration
Date (Lease Years 6-11)
	 	$	4,316,320.08	 	 	$	359,693.34	 	 	$6.66666/rsf

	 	 	 	 	 
	D.

	 	Base Year:
	 	 2001
	 
	 	 	 	 
	E.

	 	Tenant’s Proportionate Share:
	 	 23.63% (based on 228,302 rsf in the Project)
	 
	 	 	 	 
	F.

	 	Security Deposit:
	 	 $2,023,275.00, pursuant to Article 4. below.
	 
	 	 	 	 
	G.

	 	Permitted Use:
	 	General office use, and, subject to the terms of Article 7 of this Lease, Tenant shall be
permitted to use a portion of the Premises located on the second floor of the Project as a health
club.
	 
	 	 	 	 
	H.

	 	Broker(s):
	 	Insignia/ESG, Inc. and Montgomery Advisors

- 9 -

 

	 	 	 	 	 
	I.

	 	 	 	First Month’s Rent: The first full month’s rent of $337,212.50 shall be due and
payable by Tenant to Landlord upon Tenant’s execution of this Lease.
	 
	 	 	 	 
	J.

	 	Number of Parking Passes:
	 	Four (4).

ARTICLE 2 

TERM/PREMISES

          The Term of this Lease shall commence on the Commencement Date as set forth in Article
1.A. of the Basic Lease Provisions and shall end on the Expiration Date set forth in
Article l.A. of the Basic Lease Provisions. For purposes of this Lease, the term “Lease
Year” shall mean each consecutive twelve (12) month period during the Lease Term, with the first
Lease Year commencing on the Commencement Date; however, (a) if the Commencement Date falls on a
day other than the first day of a calendar month, the first Lease Year shall end on the last day of
the eleventh (11th) month after the Commencement Date and the second (2nd) and each succeeding
Lease Year shall commence on the first day of the next calendar month, and (b) the last Lease Year
(which may be less than a full calendar year) shall end on the Expiration Date. If Landlord is
unable to deliver possession of Premises to Tenant on or before the anticipated delivery date of
May 1, 2001, Landlord shall not be subject to any liability for its failure to do so, and such
failure shall not affect the validity of this Lease nor the obligations of Tenant hereunder.
Landlord and Tenant hereby stipulate that the Premises contain the number of square feet specified
in Article l.B. of the Basic Lease Provisions. At any time after the Commencement Date,
Landlord may deliver to Tenant a Commencement Letter in a form substantially similar to that
attached hereto as Exhibit “C”, which Tenant shall execute and return to Landlord within five (5)
days of receipt thereof. Failure of Tenant to timely execute and deliver the Commencement Letter
shall constitute an acknowledgment by Tenant that the statements included in such notice are true
and correct, without exception.

ARTICLE 3

 RENTAL

               (a) Basic Rental. Tenant agrees to pay to Landlord during the
Term hereof, at Landlord’s office or to such other person or at such other place
as directed from time to time by written notice to Tenant from Landlord, the
initial monthly and annual sums as set forth in Article l.C. of the Basic Lease
Provisions, payable in advance on the first day of each calendar month, without
demand, setoff or deduction, and in the event this Lease commences or the date

- 10 -

 

of expiration of this Lease occurs other than on the first day or last day of a
calendar month, the rent for such month shall be prorated. Notwithstanding the
foregoing, the first full month’s rent shall be paid to Landlord in accordance
with Article 1.1. of the Basic Lease Provisions.

               (b) Increase in Direct Costs. The term “Base Year” means the
calendar year set forth in Article l.D. of the Basic Lease Provisions. If, in
any
calendar year during the Term of this Lease, the “Direct Costs” (as hereinafter
defined) paid or incurred by Landlord shall be higher than the Direct Costs for
the Base Year, Tenant shall pay an additional sum for such and each subsequent
calendar year equal to the product of the amount set forth in Article I.E. of
the
Basic Lease Provisions multiplied by such increased amount of “Direct Costs.”
In the event either the Premises and/or the Project is expanded or reduced, then
Tenant’s Proportionate Share shall be appropriately adjusted, and as to the
calendar year in which such change occurs, Tenant’s Proportionate Share for
such year shall be determined on the basis of the number of days during that
particular calendar year that such Tenant’s Proportionate Share was in effect. In
the event this Lease shall terminate on any date other than the last day of a
calendar year, the additional sum payable hereunder by Tenant during the
calendar year in which this Lease terminates shall be prorated on the basis of
the relationship which the number of days which have elapsed from the
commencement of said calendar year to and including said date on which this
Lease terminates bears to three hundred sixty-five (365). Any and all amounts
due and payable by Tenant pursuant to Article 3(b), (c) and (d) hereof shall be
deemed “Additional Rent” and Landlord shall be entitled to exercise the same
rights and remedies upon default in these payments as Landlord is entitled to
exercise with respect to defaults in monthly Basic Rental payments.

               (c) Definitions. As used herein the term “Direct Costs” shall
mean the sum of the following:

               (i) “Tax Costs”, which shall mean any and all real estate taxes and other
similar charges on real property or improvements, assessments, water and sewer
charges, and all other charges assessed, reassessed or levied upon the Project and
appurtenances thereto and other facilities thereof, or the real property thereunder
(collectively the “Real Property”) or attributable thereto or on the rents, issues,
profits or income received or derived therefrom which are assessed, reassessed or
levied by the United States, the State of California or any local government
authority or agency or any political subdivision thereof, and shall include
Landlord’s reasonable legal fees, costs and disbursements incurred in connection
with proceedings for reduction of Tax Costs or any part thereof; provided, however,
if at any time after the date of this Lease the methods of taxation now prevailing
shall be altered so that in lieu of or as a supplement to or a substitute for the
whole or any part of

- 11 -

 

any Tax Costs, there shall be assessed, reassessed or levied (a) a tax,
assessment, reassessment, levy, imposition or charge wholly or partially as a net
income, capital or franchise levy or otherwise on the rents, issues, profits or
income derived therefrom, or (b) a tax, assessment, reassessment, levy (including
but not limited to any municipal, state or federal levy), imposition or charge
measured by or based in whole or in part upon the Real Property and imposed upon
Landlord, or (c) a license fee measured by the rent payable under this Lease, then
all such taxes, assessments, reassessments or levies or the part thereof so measured
or based, shall be deemed to be included in the term “Direct Costs.” In addition,
when calculating Tax Costs for the Base Year, special assessments shall only be
deemed included in Tax Costs for the Base Year to the extent that such special
assessments are included in Tax Costs for the applicable subsequent calendar year
during the Term.

               (ii) “Operating Costs”, which shall mean all costs and expenses incurred
by Landlord in connection with the maintenance, operation, replacement, ownership
and repair of the Project, the equipment, the intrabuilding network cable, adjacent
walks, malls and landscaped and common areas and facilities of the Project,
including, but not limited to, salaries, wages, medical, surgical and general
welfare benefits and pension payments, payroll taxes, fringe benefits, employment
taxes, workers’ compensation, uniforms and dry cleaning thereof for all persons who
perform duties connected with the operation, maintenance and repair of the Project,
its equipment, the intrabuilding network cable and the adjacent walks and landscaped
areas, including janitorial, gardening, security, operating engineer, elevator,
painting, plumbing, electrical, carpentry, heating, ventilation, air conditioning,
window washing, hired services, a reasonable allowance for depreciation of the cost
of acquiring or the rental expense of personal property used in the maintenance,
operation and repair of the Project, accountant’s fees incurred in the preparation
of rent adjustment statements, real estate tax consulting fees, personal property
taxes on property used in the maintenance and operation of the Project, fees, costs,
expenses or dues payable pursuant to the terms of any covenants, conditions or
restrictions or owners’ association pertaining to the Project, capital expenditures
incurred to effect economies of operation of, or stability of services to, the
Project and capital expenditures required by government regulations, laws, or
ordinances (including the Americans with Disabilities Act of 1990 (the “ADA”)) which
were not in effect as of the Commencement Date; costs incurred (capital or
otherwise) on a regular recurring basis every three (3) or more years for certain
maintenance projects (e.g., parking lot slurry coat or replacement of lobby and
elevator cab carpeting), in each instance amortized over their useful life, together
with interest thereon at the rate often percent (10%) per annum; the cost of all

- 12 -

 

charges for electricity, gas, water and other utilities furnished to the
Project, including any taxes thereon; the cost of all charges for fire and extended
coverage, liability and all other insurance for the Project carried by Landlord; the
cost of all building and cleaning supplies and materials; the cost of all charges
for cleaning, maintenance and service contracts and other services with independent
contractors and administration fees; a commercially reasonable property management
fee (which fee may be imputed if Landlord has internalized management or otherwise
acts as its own property manager) and license, permit and inspection fees relating
to the Project. In the event, during any calendar year, the Project is less than
ninety-five percent (95%) occupied at all times, Operating Costs shall be adjusted
to reflect the Operating Costs of the Project as though ninety-five percent (95%)
were occupied at all times, and the increase or decrease in the sums owed hereunder
shall be based upon such Operating Costs as so adjusted. Notwithstanding anything to
the contrary set forth in this Article 3, when calculating Operating Costs
for the Base Year, Operating Costs shall exclude (a) market-wide labor-rate
increases due to extraordinary circumstances including, but not limited to, boycotts
and strikes, (b) utility rate increases due to extraordinary circumstances
including, but not limited to, conservation surcharges, boycotts, embargoes or other
shortages, and (c) amortization of any capital items including, but not limited to,
capital improvements, capital repairs and capital replacements (including such
amortized costs where the actual improvement, repair or replacement was made in
prior years). Notwithstanding the foregoing, Operating Costs do not include: (1)
legal fees, brokers’ commissions or other costs incurred in the negotiation,
termination, extension of leases, or expansion or contraction of premises under any
leases, or in proceedings involving a specific tenant, or in the creation of an
encumbrance, or in connection with a sale of the Project, including survey, legal
fees and disbursements, transfer stamps and appraisals, engineering and inspection
reports associated with the contemplated sale or encumbrance; (2) depreciation,
except as set forth above; (3) interest, except as set forth above; (4) capital
items, except as set forth above; (5) repairs or improvements paid for with the
proceeds of any insurance carried by Landlord (or which would have been paid had
Landlord carried the insurance required to be carried by Landlord under this Lease);
(6) advertising and promotional expenses incurred for the purpose of leasing space
in the Project or promoting patronage of the Project by invitees; (7) wages,
salaries, reimbursable expenses, benefit and other compensation of any personnel
above the grade of the general manager of the Project; (8) any expense for which
Landlord is entitled to be reimbursed by a tenant (including Tenant) as an
additional charge in excess of base rent and such tenant’s share of Operating Costs;
(9) the cost of any special services incurred for the benefit of one or more

- 13 -

 

tenants of the Project and not provided generally to all tenants of the
Project; (10) penalties or late fees incurred by Landlord; (11) the costs, expenses
and fees of any asset manager, investment or financial advisor, or investment
banker, representing Landlord or any partner or any other constituent member of
Landlord; and (12) Landlord’s internal overhead expenses, including the cost of
internal accounting and the cost of preparation of Landlord’s income tax or
information returns. Operating Costs shall be “net” so that they are reduced by the
amount of all recoupments, discounts, credits, reductions, allowances or the like
actually received by Landlord from third parties, on account of Operating Cost,
except that Landlord may include in Operating Costs the actual costs and expenses,
if any, incurred by Landlord in obtaining such recoupments, discounts, credits,
reductions, allowances or the like. Subject to the provisions of this definition,
the determination of Operating Costs shall be made by Landlord in accordance with
generally accepted accounting principles and practices, based on the operating
principles and practices of the Project, consistently applied.

     (d) Determination of Payment.

               (i) if for any calendar year ending or commencing within the Term,
Tenant’s Proportionate Share of Direct Costs for such calendar year exceeds Tenant’s
Proportionate Share of Direct Costs for the Base Year, then Tenant shall pay to
Landlord, in the manner set forth in Sections 3(d)(ii) and (iii),
below, and as additional rent, an amount equal to the excess (the “Excess”).

               (ii) Landlord shall give Tenant a yearly expense estimate statement (the
“Estimate Statement”) which shall set forth Landlord’s reasonable estimate (the
“Estimate”) of what the total amount of Direct Costs for the then-current calendar
year shall be and the estimated Excess (the “Estimated Excess”) as calculated by
comparing Tenant’s Proportionate Share of Direct Costs for such calendar year, which
shall be based upon the Estimate, to Tenant’s Proportionate Share of Direct Costs
for the Base Year. The failure of Landlord to timely furnish the Estimate Statement
for any calendar year shall not preclude Landlord from enforcing its rights to
collect any Estimated Excess under this Article 3. If pursuant to the
Estimate Statement an Estimated Excess is calculated for the then-current calendar
year, Tenant shall pay, with its next installment of Monthly Basic Rental due, a
fraction of the Estimated Excess for the then-current calendar year (reduced by any
amounts paid pursuant to the last sentence of this Section 3(d)(ii)). Such
fraction shall have as its numerator the number of months which have elapsed in such
current calendar year to the month of such payment, both months inclusive, and shall
have twelve (12) as its denominator. Until a new

- 14 -

 

Estimate Statement is furnished, Tenant shall pay monthly, with the Monthly
Basic Rental installments, an amount equal to one-twelfth (1/12) of the total
Estimated Excess set forth in the previous Estimate Statement delivered by Landlord
to Tenant.

               (iii) In addition, Landlord shall endeavor to give to Tenant on or before
the first day of April following the end of each calendar year, a statement (the
“Statement”) which shall state the Direct Costs incurred or accrued for such
preceding calendar year, and which shall indicate the amount, if any, of the Excess.
Upon receipt of the Statement for each calendar year during the Term, if amounts
paid by Tenant as Estimated Excess are less than the actual Excess as specified on
the Statement, Tenant shall pay, with its next installment of Monthly Basic Rental
due, the full amount of the Excess for such calendar year, less the amounts, if any,
paid during such calendar year as Estimated Excess. If, however, the Statement
indicates that amounts paid by Tenant as Estimated Excess are greater than the
actual Excess as specified on the Statement, such overpayment shall be credited
against Tenant’s next installments of Estimated Excess. The failure of Landlord to
timely furnish the Statement for any calendar year shall not prejudice Landlord from
enforcing its rights under this Article 3. Even though the Term has expired
and Tenant has vacated the Premises, when the final determination is made of
Tenant’s Proportionate Share of the Direct Costs for the calendar year in which this
Lease terminates, if an Excess is present, Tenant shall immediately pay to Landlord
an amount as calculated pursuant to the provisions of this Article 3(d). The
provisions of this Section 3(d)(iii) shall survive the expiration or earlier
termination of the Term.

               (iv) Within one hundred twenty (120) days after receipt of a Statement by
Tenant (“Review Period”), if Tenant disputes the amount set forth in the Statement,
Tenant’s employees or an independent certified public accountant (which accountant
is a member of a nationally or regionally recognized accounting firm), designated by
Tenant, may, after reasonable notice to Landlord and at reasonable times, inspect
Landlord’s records at Landlord’s offices, provided that Tenant is not then in
default after expiration of all applicable cure periods and provided further that
Tenant and such accountant or representative shall, and each of them shall use their
commercially reasonable efforts to cause their respective agents and employees to,
maintain all information contained in Landlord’s records in strict confidence.
Notwithstanding the foregoing, Tenant shall only have the right to review Landlord’s
records one (1) time during any twelve (12) month period. Tenant’s failure to
dispute the amounts set forth in any Statement within the Review Period shall be
deemed to be Tenant’s approval of such Statement and Tenant,

- 15 -

 

thereafter, waives the right or ability to dispute the amounts set forth in
such Statement. If after such inspection, but within thirty (30) days after the
Review Period, Tenant notifies Landlord in writing that Tenant still disputes such
amounts, a certification as to the proper amount shall be made, at Tenant’s expense,
by an independent certified public accountant selected by Landlord and who is a
member of a nationally or regionally recognized accounting firm. Landlord shall
cooperate in good faith with Tenant and the accountant to show Tenant and the
accountant the information upon which the certification is to be based. However, if
such certification by the accountant proves that the Direct Costs set forth in the
Statement were overstated by more than five percent (5%), then the cost of the
accountant and the cost of such certification shall be paid for by Landlord.
Promptly following the parties receipt of such certification, the parties shall make
such appropriate payments or reimbursements, as the case may be, to each other, as
are determined to be owing pursuant to such certification.

               (v) If the Project is a part of a multi-building development, those Direct
Costs attributable to such development as a whole (and not attributable solely to
any individual building therein) shall be allocated by Landlord to the Project and
to the other buildings within such development on an equitable basis.

ARTICLE 4 

SECURITY DEPOSIT AND LETTER OF CREDIT

               (a) Tenant has deposited with Landlord the sum set forth in Article l.F.
of the Basic Lease Provisions as security for the full and faithful performance of every
provision of this Lease to be performed by Tenant (the “Security Deposit”). If Tenant
breaches any provision of this Lease, including but not limited to the payment of rent,
Landlord may use all or any part of this Security Deposit for the payment of any rent or any
other sums in default, or to compensate Landlord for any other loss or damage which Landlord
may suffer by reason of Tenant’s default. If any portion of the Security Deposit is so used
or applied, Tenant shall, within five (5) days after written demand therefor, deposit cash
with Landlord in an amount sufficient to restore the Security Deposit to the then required
amount (as determined below). On the first anniversary of the Commencement Date and each
subsequent anniversary thereafter, provided no events or conditions exist which, with the
passage of time or giving of notice or both, would constitute a default under this Lease,
the amount of the Security Deposit required hereunder shall be reduced according to the
following schedule:

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	 	 	Amount of
	Time Period	 	Security Deposit
	Commencement Date — End of Lease Year 1
	 	$	2,023,275.00	 
	Lease Year 2
	 	$	1,820,947.50	 
	Lease Year 3
	 	$	1,618,620.00	 
	Lease Year 4
	 	$	1,416,292.50	 
	Lease Year 5
	 	$	1,213,965.00	 
	Lease Year 6
	 	$	1,011,637.50	 
	Lease Year 7
	 	$	809,310.00	 
	Lease Year 8
	 	$	606,982.50	 
	Lease Year 9
	 	$	404,655.00	 
	Lease Year
10 — Expiration Date
	 	$	337,212.50	 

               Landlord and Tenant agree that Landlord shall maintain the Security Deposit in a money
market account with a financial institution reasonably acceptable to Landlord. Initially,
such account shall be opened with The Dreyfus Corporation. Said account shall be held solely
in Landlord’s name and shall be subject to only Landlord’s investment direction. In no event
shall Landlord be liable for any loss of interest or principal of the Security Deposit, nor
shall Landlord be liable for the performance of the investment or any costs, charges or fees
assessed to such account. Subject to Landlord’s reasonable approval, Tenant shall be
permitted from time to time during the Term (but not more than twice in any calendar year),
to direct Landlord to reinvest the Security Deposit in investment grade debt instruments
having a maturity of no more than 120 days.

               Within thirty (30) days after the end of each Lease Year, and provided that no events
of default or events or conditions exist which with the passage of time or giving of notice
or both would constitute a default under this Lease, Landlord shall cause a portion of the
Security Deposit to be refunded to Tenant in an amount equal to the difference of (a) the
amount of the Security Deposit then held by or for the account of Landlord, plus all
interest accrued thereon, less (b) the amount of the Security Deposit required to be held
for the then current Lease Year plus any fees, penalties or breakage costs payable in
connection with the withdrawal of said amount from Landlord’s investment account.

               At the expiration of the Lease Term, and provided there exists no default by Tenant
hereunder, the Security Deposit or any balance thereof shall be returned to Tenant (or, at
Landlord’s option, to Tenant’s assignee), provided that subsequent to the expiration of this
Lease, Landlord may retain from said Security Deposit (i) an amount reasonably estimated by
Landlord to cover potential Direct Cost reconciliation payments due with respect to the
calendar year in which this Lease terminates or expires (such amount so retained shall

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not, in any event, exceed ten percent (10%) of estimated Direct Cost payments due from
Tenant for such calendar year through the date of expiration or earlier termination of this
Lease and any amounts so retained and not applied to such reconciliation shall be returned
to Tenant within thirty (30) days after Landlord’s delivery of the Statement for such
calendar year), (ii) any and all amounts reasonably estimated by Landlord to cover the
anticipated costs to be incurred by Landlord to remove any signage provided to Tenant under
this Lease and to repair any damage caused by such removal (in which case any excess amount
so retained by Landlord shall be returned to Tenant within thirty (30) days after such
removal and repair), and (iii) any and all amounts permitted by law or this Article
4. Tenant hereby waives the provisions of Section 1950.7 of the California Civil Code
and all other provisions of law, now or hereafter in effect, which provide that Landlord may
claim from a security deposit only those sums reasonably necessary to remedy defaults in the
payment of rent, to repair damage caused by Tenant or to clean the Premises, it being agreed
that Landlord may, in addition, claim those sums specified in this Article 4 above
and/or those sums reasonably necessary to compensate Landlord for any other loss or damage,
foreseeable or unforeseeable, caused by the acts or omissions of Tenant or any officer,
employee, agent, contractor or invitee of Tenant.

               (b) Tenant shall have the option to deliver an irrevocable
standby letter of credit (“Letter of Credit”) to Landlord, in the initial face value
of the Security Deposit then required hereunder, issued by a money-center bank
(a bank which accepts deposits, maintains accounts and whose deposits are
insured by the FDIC) located in San Francisco, California and acceptable to
Landlord in Landlord’s sole discretion, in form and content and with terms and
conditions in all material respects acceptable to Landlord in Landlord’s sole
discretion.

               (c) Notwithstanding any provision to the contrary contained in
this Lease, in the event that Landlord sells or transfers at least fifty-one percent
(51%) of Landlord’s interest in the Project, the Security Deposit required under
this Lease shall be amended to be the lesser of: (i) the then required Security
Deposit pursuant to Article 4(a), above, or (ii) an amount equal to
$1,011,637.50. Within thirty (30) days after any such transfer, Landlord shall refund to
Tenant any portion of the Security Deposit held by or for the account of Landlord in excess
of the then required Security Deposit, if any, less any fees, penalties or breakage costs
payable in connection with the withdrawal of said amount from Landlord’s investment account.
Upon the expiration of the first whole Lease Year after any such transfer, and on each
subsequent anniversary thereof, and provided that no events or conditions exist which, with
the passage of time or giving of notice or both would constitute a default under this Lease,
the amount of the Security Deposit required hereunder shall be reduced by an amount equal to
$202,327.50 per Lease Year. Notwithstanding the foregoing, the amount of the Security
Deposit required under this Article 

- 18 -

 

               4(c) shall at no time be reduced to be an amount less than $337,212.50. Within
thirty (30) days after the end of each Lease Year after any such transfer, and provided that
no events of default or events or conditions exist which with the passage of time or giving
of notice or both would constitute a default under this Lease, Landlord shall cause a
portion of the Security Deposit to be refunded to Tenant in an amount equal to the
difference of (a) the amount of the Security Deposit then held by or for the account of
Landlord, plus all interest accrued thereon, less (b) the amount of the Security Deposit
required to be held for the then current Lease Year plus any fees, penalties or breakage
costs payable in connection with the withdrawal of said amount from Landlord’s investment
account.

               (d) From time to time, Tenant may request that Landlord
reconsider the amount of the Security Deposit required hereunder; Notwithstanding
the foregoing, Landlord shall have no obligation whatsoever to act reasonably in
considering any such request. Any decision to adjust the Security Deposit required
hereunder shall be made in the sole and absolute discretion of Landlord.

ARTICLE 5

HOLDING OVER

          Should Tenant, without Landlord’s written consent, hold over after termination of this Lease,
Tenant shall become a tenant from month to month (for that portion of the Premises in which Tenant
is holding over), only upon each and all of the terms herein provided as may be applicable to a
month to month tenancy and any such holding over shall not constitute an extension of this Lease.
During such holding over, Tenant shall pay in advance, monthly, rent at one hundred fifty percent
(150%) of the rate in effect for the last month of the Term of this Lease, in addition to, and not
in lieu of, all other payments required to be made by Tenant hereunder including but not limited to
Tenant’s Proportionate Share of any increase in Direct Costs. Nothing contained in this Article
5 shall be construed as consent by Landlord to any holding over of the Premises by Tenant, and
Landlord expressly reserves the right to require Tenant to surrender possession of the Premises to
Landlord as provided in this Lease upon the expiration or earlier termination of the Term. If
Tenant fails to surrender the Premises upon the expiration or termination of this Lease, Tenant
agrees to indemnify, defend and hold Landlord harmless from all costs, loss, expense or liability,
including without limitation, claims made by any succeeding tenant and real estate brokers claims
and attorneys’ fees.

- 19 -

 

ARTICLE 6 

PERSONAL PROPERTY TAXES

          Tenant shall pay, prior to delinquency, all taxes assessed against or levied upon trade
fixtures, furnishings, equipment and all other personal property of Tenant located in the Premises.
In the event any or all of Tenant’s trade fixtures, furnishings, equipment and other personal
property shall be assessed and taxed with property of Landlord, or if the cost or value of any
leasehold improvements in the Premises exceeds the cost or value of a Project-standard buildout as
determined by Landlord and, as a result, real property taxes for the Project are increased, Tenant
shall pay to Landlord its share of such taxes within thirty (30) days after delivery to Tenant by
Landlord of a statement in writing setting forth the amount of such taxes applicable to Tenant’s
property or above-standard improvements. In no event shall Tenant be obligated to pay, as an
Operating Cost, the value of any other tenants’ improvements in the buildings that are separately
assessed to the extent the value or cost exceeds Project-standard buildout. Tenant shall assume and
pay to Landlord at the time of paying Basic Rental, any excise, sales, use, rent, occupancy,
garage, parking, gross receipts or other taxes (other than net income taxes) which may be imposed
on or on account of letting of the Premises or the payment of Basic Rental or any other sums due or
payable hereunder, and which Landlord may be required to pay or collect under any law now in effect
or hereafter enacted. Tenant shall pay directly to the party or entity entitled thereto all
business license fees, gross receipts taxes and similar taxes and impositions which may from time
to time be assessed against or levied upon Tenant, as and when the same become due and before
delinquency. Notwithstanding anything to the contrary contained herein, any sums payable by Tenant
under this Article 6 shall not be included in the computation of “Tax Costs.”

ARTICLE 7

USE

               (a) Tenant shall use and occupy the Premises only for the use
set forth in Article l.G. of the Basic Lease Provisions and shall not use or
occupy the Premises or permit the same to be used or occupied for any other
purpose without the prior written consent of Landlord, which consent may be
given or withheld in Landlord’s reasonable discretion, and Tenant agrees that it
will use the Premises in such a manner so as not to interfere with or infringe the
rights of other tenants in the Project. Tenant shall, at its sole cost and expense,
promptly comply with all laws, statutes, ordinances and governmental
regulations or requirements now in force or which may hereafter be in force
relating to or affecting (i) the condition, use or occupancy of the Premises or the
Project, excluding structural changes to the Project not related to Tenant’s
particular use of the Premises, and (ii) improvements installed or constructed in

- 20 -

 

the Premises by or for the benefit of Tenant. Tenant shall not do or permit to be
done anything which would invalidate or increase the cost of any fire and
extended coverage insurance policy covering the Project and/or the property
located therein and Tenant shall comply with all rules, orders, regulations and
requirements of any organization which sets out standards, requirements or
recommendations commonly referred to by major fire insurance underwriters.
Tenant shall promptly, upon demand, reimburse Landlord for any additional
premium charges for any such insurance policy assessed or increased by reason
of Tenant’s failure to comply with the provisions of this Article.

               (b) Subject to the foregoing, Tenant shall be permitted to use
the Premises as follows:

               (i) Health Club. Tenant shall be permitted to construct a health
club on the second floor of the Premises (the “Health Club Space”), solely for the
use of Tenant’s employees, contractors, consultants and Tenant Licensees
(collectively, the “Health Club Users”) at Tenant’s sole cost and expense. Under no
circumstances shall Tenant be permitted to charge a fee for admittance or use of the
Health Club Space. All Alterations to the Health Club Space shall be governed by the
terms of Article 9. below. Tenant shall install separate meters for the
Health Club Space to register the usage of all of the utilities in the Health Club
Space and Tenant shall pay for the cost of all utility usage as metered to the
Health Club Space in excess of an amount which would have been used during the Base
Year had the Health Club Space been used as general office space during the Base
Year, as reasonably determined by Landlord. Tenant shall be responsible for the cost
of installation of such meters, and the maintenance and repair thereof. The term
“utility” for purposes hereof may refer to but is not limited to electricity, gas,
water, sewer, steam, fire protection system, telephone or other communication or
alarm service, as well as HVAC, and all taxes or other charges thereon. Prior to the
expiration of the Term of this Lease or any extension thereof, all Alterations made
to the Health Club Space shall be removed by Tenant and Tenant shall repair any
damages to the Health Club Space caused by such removal, all at Tenant’s sole cost
and expense pursuant to the terms of Article 29(b) hereof.

               (ii) Tenant Licensees. Landlord hereby acknowledges that Tenant
intends to utilize a portion of the Premises as office space for Tenant’s clients
(“Tenant Licensees”). Subject to the terms of Article 9 of this Lease,
Tenant may utilize space in the Premises for occupancy by multiple Tenant Licensees,
provided such occupancy density on any floor shall at no time exceed one (1) person
per 175 rentable square feet and shall not exceed three (3) suites with separate
corridors on any floor. The use of any portion of the Premises by any Tenant
Licensee shall be

- 21 -

 

compatible with general office use in the Project, shall be consistent with
uses in other Class-A office buildings in the immediate vicinity of the Project and
shall be approved by Landlord, in Landlord’s reasonable discretion. Prior to any
Tenant Licensee’s occupancy of the Premises, each Tenant Licensee shall execute a
written license agreement, pursuant to which Tenant Licensee shall agree to pay a
monthly license fee in an amount equal to the then prevailing market rent and with
other terms and conditions acceptable to Landlord in Landlord’s reasonable
discretion. Tenant shall pay to Landlord as Additional Rent, the amount by which the
then prevailing market rent for any such Tenant Licensee’s portion of the Premises
exceeds the then current Monthly Basic Rental due under this Lease for said portion
of the Premises. Landlord’s consent to the occupancy of the Premises by any Tenant
Licensee shall be deemed given if Landlord has not withheld such consent by written
notice to Tenant within thirty (30) days of Landlord’s receipt of a fully executed
license agreement for such Tenant Licensee. In the event of any disagreement
regarding either Landlord or Tenant’s determination of the rental rate to be paid by
a Tenant Licensee, the “then prevailing market rent” shall be determined pursuant to
the procedure set forth in Article 3 Kb), below and shall assume (solely for
purposes of determining the then prevailing market rent) a five (5) year term.
Tenant shall provide Landlord with no less than thirty (30) days’ prior written
notice of the proposed occupancy of any portion of the Premises by a Tenant
Licensee, together with a fully-executed copy of the written license agreement,
which license agreement shall be in a form reasonably acceptable to Landlord.
Tenant’s failure to deliver Landlord notice of any Tenant Licensee’s proposed
occupancy of any portion of the Premises shall be deemed an Event of Default. All
signage for Tenant Licensees shall be governed by the terms of Paragraph 5 of the
Rules and Regulations attached hereto and incorporated herein as Exhibit “B”.
Landlord shall not be entitled to any Transfer Premium in connection with the use of
the Premises by any Tenant Licensee in accordance with this Section 7(b).
Notwithstanding the occupancy of any portion of the Premises by Tenant’s Licensees,
Tenant shall remain fully liable for all obligations and liabilities of Tenant under
this Lease.

ARTICLE 8 

CONDITION OF PREMISES

          Tenant hereby agrees that the Premises shall be taken “as is”, “with all faults”, “without any
representations or warranties”, and Tenant hereby agrees and warrants that it has investigated and
inspected the condition of the Premises and the suitability of same for Tenant’s purposes, and
Tenant does hereby waive and disclaim any objection to, cause of action based upon, or claim that
its obligations hereunder

- 22 -

 

should be reduced or limited because of the condition of the Premises or the Project or the
suitability of same for Tenant’s purposes. Tenant acknowledges that neither Landlord nor any agent
nor any employee of Landlord has made any representation or warranty with respect to the Premises
or the Project or with respect to the suitability of either for the conduct of Tenant’s business
and Tenant expressly warrants and represents that Tenant has relied solely on its own investigation
and inspection of the Premises and the Project in its decision to enter into this Lease and let the
Premises in an “As Is” condition. The existing leasehold improvements in the Premises as of the
Commencement Date of this Lease, together with any improvements subsequently installed by Tenant
pursuant to Article 9 of this Lease may collectively be referred to herein as the “Tenant
Improvements.” The taking of possession of the Premises by Tenant shall conclusively establish that
the Premises and the Project were at such time in satisfactory condition. Tenant hereby waives
Sections 1941 and 1942 of the Civil Code of California or any successor provision of law.

          Landlord reserves the right from time to time, but subject to payment by and/or reimbursement
from Tenant as otherwise provided herein: (i) to install, use, maintain, repair, replace and
relocate for service to the Premises and/or other parts of the Project pipes, ducts, conduits,
wires, appurtenant fixtures, and mechanical systems, wherever located in the Premises or the
Project, (ii) to alter, close or relocate any facility in the Premises or the Common Areas or
otherwise conduct any of the above activities for the purpose of complying with a general plan for
fire/life safety for the Project or otherwise and (iii) to comply with any federal, state or local
law, rule or order with respect thereto or the regulation thereof not currently in effect. Landlord
shall attempt to perform any such work with the least inconvenience to Tenant as possible, but in
no event shall Tenant be permitted to withhold or reduce Basic Rental or other charges due
hereunder as a result of same or otherwise make claim against Landlord for interruption or
interference with Tenant’s business and/or operations.

ARTICLE 9 

REPAIRS AND ALTERATIONS

          Landlord shall maintain the structural portions of the Project including the foundation,
floor/ceiling slabs, roof, curtain wall, exterior glass, columns, beams, shafts, stairs,
stairwells, elevator cabs and common areas and shall also maintain and repair the basic mechanical,
electrical, life-safety, plumbing, sprinkler systems and heating, ventilating and air-conditioning
systems (provided, however, that Landlord’s obligation with respect to any such systems shall be to
repair and maintain those portions of the systems located in the core of the Project or in other
areas outside of the Premises, but Tenant shall be responsible to repair and maintain any
distribution of such systems throughout the Premises or which are required to be upgraded as a
result of Tenant’s Alterations or improvements to the Premises). Except as expressly provided as
Landlord’s obligation in this Article 9, Tenant shall keep the Premises in good condition
and repair. Subject to the provisions of Article 14, all damage or injury

- 23 -

 

to the Premises or the Project resulting from the act or negligence of Tenant, its employees,
agents or visitors, guests, invitees or licensees or by the use of the Premises shall be promptly
repaired by Tenant, at its sole cost and expense, to the satisfaction of Landlord; provided,
however, that for damage to the Project as a result of casualty or for any repairs that may impact
the mechanical, electrical, plumbing, heating, ventilation or air-conditioning systems of the
Project, Landlord shall have the right (but not the obligation) to select the contractor and
oversee all such repairs. Landlord may make any repairs which are not promptly made by Tenant
after Tenant’s receipt of written notice and the reasonable opportunity of Tenant to make said
repair within ten (10) business days from receipt of said written notice, and charge Tenant for the
cost thereof, which cost shall be paid by Tenant within thirty (30) days from invoice from
Landlord. Tenant shall be responsible for the design and function of all nonstandard improvements
of the Premises, whether or not installed by Landlord at Tenant’s request. Tenant waives all rights
to make repairs at the expense of Landlord, or to deduct the cost thereof from the rent. Tenant
shall make no alterations, changes or additions in or to the Premises (collectively, “Alterations”)
without Landlord’s prior written consent, and then only by contractors or mechanics approved by
Landlord in writing and upon the approval by Landlord in writing of fully detailed and dimensioned
plans and specifications pertaining to the Alterations in question, to be prepared and submitted by
Tenant at its sole cost and expense. Tenant shall at its sole cost and expense obtain all necessary
approvals and permits pertaining to any Alterations approved by Landlord. If Landlord, in approving
any Alterations, specifies a commencement date therefor, Tenant shall not commence any work with
respect to such Alterations prior to such date. Tenant hereby indemnifies, defends and agrees to
hold Landlord free and harmless from all liens and claims of lien, and all other liability, claims
and demands arising out of any work done or material supplied to the Premises by or at the request
of Tenant in connection with any Alterations. If permitted Alterations are made, they shall be made
at Tenant’s sole cost and expense and shall be and become the property of Landlord, except that
Landlord may, by written notice to Tenant given at the time the Alterations are approved, require
Tenant at Tenant’s expense to remove all partitions, counters, railings and other Alterations
installed by Tenant, and to repair any damages to the Premises caused by such removal. Any and all
costs attributable to or related to the applicable building codes of the city in which the Project
is located (or any other authority having jurisdiction over the Project) arising from Tenant’s
plans, specifications, improvements, alterations or otherwise shall be paid by Tenant at its sole
cost and expense. With regard to repairs, Alterations or any other work arising from or related to
this Article 9, Landlord shall be entitled to receive an administrative/supervision fee
(which fee shall vary depending upon whether or not Tenant orders the work directly from Landlord)
sufficient to compensate Landlord for all overhead, general conditions, fees and other costs and
expenses arising from Landlord’s involvement with such work. As a condition to Landlord’s approval
of any Alterations, Landlord may require Tenant to execute a Tenant Work Letter in the form
attached hereto as Exhibit “D.”

          Notwithstanding anything to the contrary contained in this Lease,

- 24 -

 

Landlord and Tenant agree that responsibility for compliance with the ADA shall be allocated
as follows: (i) Landlord shall be responsible for compliance with the provisions of Title III of
the ADA and all life safety codes or government regulations in effect as of the execution of this
Lease for all Common Areas, including exterior and interior areas of the Project not included
within the Premises or the premises of other tenants; (ii) Landlord shall be responsible for
compliance with the provisions of Title III of the ADA and all life safety codes or government
regulations in effect as of the execution of this Lease for any construction, renovations,
alterations and repairs made within the Premises, if such construction, renovations, alterations or
repairs are made by Landlord for the purpose of improving the Project generally; (iii) Tenant shall
be responsible for compliance with the provisions of Title III of the ADA and all life safety codes
or government regulations in effect as of the execution of this Lease for any construction,
renovations, alterations and repairs made within the Premises.

ARTICLE 10

LIENS

          Tenant shall keep the Premises and the Project free from any mechanics’ liens, vendors’ liens
or any other liens arising out of any work performed, materials furnished or obligations incurred
by Tenant, and agrees to defend, indemnify and hold harmless Landlord from and against any such
lien or claim or action thereon, together with costs of suit and reasonable attorneys’ fees
incurred by Landlord in connection with any such claim or action. Before commencing any work of
alteration, addition or improvement to the Premises, Tenant shall give Landlord at least ten (10)
business days’ written notice of the proposed commencement of such work (to afford Landlord an
opportunity to post appropriate notices of non-responsibility). In the event that there shall be
recorded against the Premises or the Project or the property of which the Premises is a part any
claim or lien arising out of any such work performed, materials furnished or obligations incurred
by Tenant and such claim or lien shall not be removed, discharged or bonded over within ten (10)
days of filing, Landlord shall have the right but not the obligation to pay and discharge said lien
without regard to whether such lien shall be lawful or correct or to require that Tenant deposit
with Landlord in cash, lawful money of the United States, one hundred fifty percent (150%) of the
amount of such claim, which sum may be retained by Landlord until such claim shall have been
removed of record or until judgment shall have been rendered on such claim and such judgment shall
have become final, at which time Landlord shall have the right to apply such deposit in discharge
of the judgment on said claim and any costs, including attorneys’ fees incurred by Landlord, and
shall remit the balance thereof to Tenant.

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ARTICLE 11 PROJECT SERVICES

               (a) Landlord agrees to furnish to the Premises, at a cost to be
included in Operating Costs, from 7:00 a.m. to 6:00 p.m. Mondays through
Fridays, excepting local and national holidays, air conditioning and heat, all in
such reasonable quantities as in the judgment of Landlord is reasonably
necessary for the comfortable occupancy of the Premises. In addition, Landlord
shall provide electric current for normal lighting and normal office machines,
elevator service and water on the same floor as the Premises for lavatory and
drinking purposes in such reasonable quantities as in the judgment of Landlord
is reasonably necessary for general office use. Landlord shall endeavor to make
up to Tenant’s Proportionate Share of the Building’s electric, HVAC and riser
capacity available to the Premises, on an aggregate basis, during the Term of
this Lease. Notwithstanding the foregoing, Landlord shall not be liable for any
costs, expenses, losses or liabilities suffered or incurred by Tenant as a result of
Landlord’s failure to comply with the preceding sentence. Janitorial and
maintenance services shall be furnished five (5) days per week, excepting local
and national holidays. Tenant shall comply with all rules and regulations which
Landlord may reasonably establish for the proper functioning and protection of
the common area air conditioning, heating, elevator, electrical intrabuilding
network cable and plumbing systems. Landlord shall not be liable for, and
there shall be no rent abatement as a result of, any stoppage, reduction or
interruption of any such services caused by governmental rules, regulations or
ordinances, riot, strike, labor disputes, breakdowns, accidents, necessary repairs
or other cause unless such stoppage, reduction or interruption continues for
more than five (5) consecutive business days and Tenant’s use of the Premises is
materially interrupted, in which case all rent payable hereunder shall abate
thereafter in proportion to the portion of the Premises actually affected, until
such interruption is cured. Except as specifically provided in this Article 11,
Tenant agrees to pay for all utilities and other services utilized by Tenant and
additional building services furnished to Tenant not uniformly furnished to all
tenants of the Project at the rate generally charged by Landlord to tenants of the
Project.

               (b) Tenant will not, without the prior written consent of
Landlord, use any apparatus or device in the Premises which will in any way
increase the amount of electricity or water usually furnished or supplied for use
of the Premises as general office space; nor connect any apparatus, machine or
device with water pipes or electric current (except through existing electrical
outlets in the Premises), for the purpose of using electric current or water.

- 26 -

 

               (c) If Tenant shall require electric current in excess of that
which Landlord is obligated to furnish under Article 11 (a) above, Tenant shall
first obtain the written consent of Landlord, which Landlord may refuse in its
sole and absolute discretion, to the use thereof and Landlord may cause an
electric current meter or submeter to be installed in the Premises to measure the
amount of such excess electric current consumed by Tenant in the Premises.
The cost of any such meter and of installation, maintenance and repair thereof
shall be paid for by Tenant and Tenant agrees to pay to Landlord, promptly
upon demand therefor by Landlord, for all such excess electric current
consumed by any such use as shown by said meter at the rates charged for such
service by the city in which the Project is located or the local public utility, as
the case may be, furnishing the same, plus any additional expense incurred by
Landlord in keeping account of the electric current so consumed.

               (d) If any lights, machines or equipment (including but not
limited to computers) are used by Tenant in the Premises which materially
affect the temperature otherwise maintained by the air conditioning system, or
generate substantially more heat in the Premises than would be generated by the
building standard lights and usual office equipment, Landlord shall have the
right to install any machinery and equipment which Landlord reasonably deems
necessary to restore temperature balance, including but not limited to
modifications to the standard air conditioning equipment, and the cost thereof,
including the cost of installation and any additional cost of operation and
maintenance occasioned thereby, shall be paid by Tenant to Landlord upon
demand by Landlord. Landlord shall not be liable under any circumstances for
loss of or injury to property, however occurring, through or in connection with
or incidental to failure to furnish any of the foregoing.

               (e) If Tenant requires heating, ventilation and/or air
conditioning during times other than the times provided in Article 11 (a)
above,
Tenant shall give Landlord such advance notice as Landlord shall reasonably
require and shall pay Landlord’s standard charge for such after-hours use, which
is currently $100.00 per hour per tenant for HVAC and $20.00 per hour per
tenant for fans only.

               (f) Landlord may impose a reasonable charge for any utilities
or services (other than electric current and heating, ventilation and/or air
conditioning which shall be governed by Articles 11(c) and (e) above) utilized
by Tenant in excess of the amount or type that Landlord reasonably determines
is typical for general office use.

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ARTICLE 12 

RIGHTS OF LANDLORD

          Landlord and its agents shall have the right to enter the Premises at all reasonable times for
the purpose of cleaning the Premises, examining or inspecting the same, serving or posting and
keeping posted thereon notices as provided by law, or which Landlord deems necessary for the
protection of Landlord or the Property, showing the same to prospective tenants, lenders or
purchasers of the Project, in the case of an emergency, and for making such alterations, repairs,
improvements or additions to the Premises or to the Project as Landlord may deem necessary or
desirable, in each case, other than emergencies, upon reasonable prior written notice. If Tenant
shall not be personally present to open and permit an entry into the Premises at any time when such
an entry by Landlord is necessary or permitted hereunder, Landlord may enter by means of a master
key or may enter forcibly, only in the case of an emergency, without liability to Tenant and
without affecting this Lease.

ARTICLE 13 

INDEMNITY; EXEMPTION OF LANDLORD FROM LIABILITY

               (a) Indemnity. Tenant shall indemnify, defend and hold
Landlord harmless from any and all claims arising from Tenant’s use of the
Premises or the Project or from the conduct of its business or from any activity,
work or thing which may be permitted or suffered by Tenant in or about the
Premises or the Project (including, without limitation, any and all claims arising
from any Health Club User’s use of the Premises or the Project) and shall
further indemnify, defend and hold Landlord harmless from and against any and
all claims arising from any breach or default in the performance of any
obligation on Tenant’s part to be performed under this Lease or arising from any
negligence of Tenant or any of its agents, contractors, employees or invitees,
patrons, customers or members in or about the Project and from any and all
costs, attorneys’ fees, expenses and liabilities incurred in the defense of any
claim or any action or proceeding brought thereon, including negotiations in
connection therewith. Tenant hereby assumes all risk of damage to property or
injury to persons in or about the Premises from any cause, and Tenant hereby
waives all claims in respect thereof against Landlord, excepting where the
damage is caused solely by the gross negligence or willful misconduct of
Landlord.

               (b) Exemption of Landlord from Liability. Landlord shall not
be liable for injury to Tenant’s business, or loss of income therefrom, or, except in
connection with damage or injury resulting from the gross negligence or willful misconduct
of Landlord, or its authorized agents, for damage that may

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be sustained by the person, goods, wares, merchandise or property of Tenant, its
employees, invitees, customers, agents, or contractors, or any other person in, on or about
the Premises directly or indirectly caused by or resulting from fire, steam, electricity,
gas, water, or rain which may leak or flow from or into any part of the Premises, or from
the breakage, leakage, obstruction or other defects of the pipes, sprinklers, wires,
appliances, plumbing, air conditioning, light fixtures, or mechanical or electrical systems
or from intrabuilding network cable, whether such damage or injury results from conditions
arising upon the Premises or upon other portions of the Project or from other sources or
places and regardless of whether the cause of such damage or injury or the means or
repairing the same is inaccessible to Tenant. Landlord shall not be liable to Tenant for any
damages arising from any act or neglect of any other tenant of the building.

               Tenant acknowledges that Landlord’s election to provide mechanical surveillance or to
post security personnel in the Project is solely within Landlord’s discretion; Landlord
shall have no liability in connection with the decision whether or not to provide such
services and Tenant hereby waives all claims based thereon. Landlord shall not be liable for
losses due to theft, vandalism, or like causes. Tenant shall defend, indemnify, and hold
Landlord harmless from any such claims made by any employee, licensee, invitee, contractor,
agent or, other person whose presence in, on or about the Premises or the Project is
attendant to the business of Tenant.

ARTICLE 14

INSURANCE

               (a) Tenant’s Insurance. Tenant, shall at all times during the Term of this
Lease, and at its own cost and expense, procure and continue in force the following
insurance coverage: (i) Commercial General Liability Insurance with a combined single limit
for bodily injury and property damages of not less than Three Million Dollars ($3,000,000)
per occurrence and Five Million Dollars ($5,000,000) in the annual aggregate, including
products liability coverage if applicable, covering the insuring provisions of this Lease
and the performance of Tenant of the indemnity and exemption of Landlord from liability
agreements set forth in Article 13 hereof; (ii) a policy of standard fire, extended
coverage and special extended coverage insurance (all risks), including a vandalism and
malicious mischief endorsement, sprinkler leakage coverage and earthquake sprinkler leakage
where sprinklers are provided in an amount equal to the full replacement value new without
deduction for depreciation of all (A) Tenant Improvements, Alterations, fixtures and other
improvements in the Premises and (B) trade fixtures, furniture, equipment and other personal
property installed by or at the expense of Tenant; (iii) Worker’s Compensation coverage as
required by law; and (iv) business interruption, loss

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of income and extra expense insurance covering failure of Tenant’s telecommunications
equipment and covering all other perils, failures or interruptions, if commercially
available. Tenant shall carry and maintain during the entire Lease Term (including any
option periods, if applicable), at Tenant’s sole cost and expense, increased amounts of the
insurance required to be carried by Tenant pursuant to this Article 14 and such
other reasonable types of insurance coverage and in such reasonable amounts covering the
Premises and Tenant’s operations therein, as may be reasonably required by Landlord.

               (b) Form of Policies. The aforementioned minimum limits of
policies and Tenant’s procurement and maintenance thereof shall in no event
limit the liability of Tenant hereunder. The Commercial General Liability
Insurance policy shall name Landlord, Landlord’s property manager, Landlord’s
lender(s) and such other persons or firms as Landlord specifies from time to
time, as additional insureds with an appropriate endorsement to the policy(s).
All such insurance policies carried by Tenant shall be with companies having a
rating of not less than A-VIII in Best’s Insurance Guide. Tenant shall furnish to
Landlord, from the insurance companies, or cause the insurance companies to
furnish, certificates of coverage. No such policy shall be cancelable or subject
to reduction of coverage or other modification or cancellation except after thirty
(30) days prior written notice to Landlord by the insurer. All such policies shall
be endorsed to agree that Tenant’s policy is primary and that any insurance
covered by Landlord is excess and not contributing with any Tenant insurance
requirement hereunder. Tenant shall, at least twenty (20) days prior to the
expiration of such policies, furnish Landlord with renewals or binders. Tenant
agrees that if Tenant does not take out and maintain such insurance or furnish
Landlord with renewals or binders, Landlord may (but shall not be required to)
procure said insurance on Tenant’s behalf and charge Tenant the cost thereof,
which amount shall be payable by Tenant upon demand with interest (at the rate
set forth in Section 20(e) below) from the date such sums are extended. Tenant
shall have the right to provide such insurance coverage pursuant to blanket
policies obtained by Tenant, provided such blanket policies expressly afford
coverage to the Premises and to Tenant as required by this Lease.

               (c) Landlord’s Insurance. Landlord shall, as a cost to be
included in Operating Costs, procure and maintain at all times during the Term
of this Lease, a policy or policies of insurance covering loss or damage to the
Project in the amount of the full replacement cost without deduction for
depreciation thereof (exclusive of Tenant’s trade fixtures, inventory, personal
property and equipment), providing protection against all perils included within the
classification of fire and extended coverage, vandalism coverage and malicious mischief,
sprinkler leakage, water damage, and special extended coverage on building. Additionally,
Landlord may (but shall not be required to) carry: (i) Bodily Injury and Property Damage
Liability Insurance and/or Excess Liability Coverage Insurance; and (ii) Earthquake and/or
Flood Damage

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Insurance; and (iii) Rental Income Insurance at its election or if required by its
lender from time to time during the Term hereof, in such amounts and with such limits as
Landlord or its lender may deem appropriate. The costs of such insurance shall be included
in Operating Costs. In the event such insurance is not carried in the Base Year, then the
Base Year Operating Costs shall be adjusted upward at such time as Landlord elects to carry
such insurance by the cost of such insurance for the year in which it is obtained.

               (d) Waiver of Subrogation. Landlord and Tenant each agree to have their
respective insurers issuing the insurance described in
Sections 14(a)(ii), 14(a)(iv) and the first sentence of Section
14(c) waive any rights of subrogation that such companies may have against the other
party. Tenant hereby waives any right that Tenant may have against Landlord and Landlord
hereby waives any right that Landlord may have against Tenant as a result of any loss or
damage to the extent such loss or damage is insurable under such policies.

               (e) Compliance with Law. Tenant agrees that it will not, at
any time, during the Term of this Lease, carry any stock of goods or do
anything in or about the Premises that will in any way tend to increase the
insurance rates upon the Project. Tenant agrees to pay Landlord immediately
upon demand the amount of any increase in premiums for insurance against loss
by fire that may be charged during the Term of this Lease on the amount of
insurance to be carried by Landlord on the Project resulting from the foregoing,
or from Tenant doing any act in or about said Premises that does so increase the
insurance rates, whether or not Landlord shall have consented to such act on the
part of Tenant. If Tenant installs upon the Premises any electrical equipment
which constitutes an overload of electrical lines of the Premises, Tenant shall at
its own cost and expense in accordance with all other Lease provisions, and
subject to the provisions of Article 9, K) and 1_1, hereof, make whatever
changes
are necessary to comply with requirements of the insurance underwriters and
any governmental authority having jurisdiction thereover, but nothing herein
contained shall be deemed to constitute Landlord’s consent to such overloading.
Tenant shall, at its own expense, comply with all requirements of the insurance
authority having jurisdiction over the Project necessary for the maintenance of
reasonable fire and extended coverage insurance for the Premises, including
without limitation thereto, the installation of fire extinguishers or an automatic
dry chemical extinguishing system.

ARTICLE 15 

ASSIGNMENT AND SUBLETTING

          Tenant shall have no power to, either voluntarily, involuntarily, by operation of law or
otherwise, sell, assign, transfer or hypothecate this Lease, or sublet

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the Premises or any part thereof, or permit the Premises or any part thereof to be used or
occupied by anyone other than Tenant or Tenant’s employees without the prior written consent of
Landlord which shall not be unreasonably withheld; provided, however, that Tenant may grant
licenses to occupy portions of the Premises to Tenant’s clients in accordance with the terms and
conditions of Article 7 of this Lease. If Tenant is a corporation, unincorporated
association, partnership or limited liability company, the sale, assignment, transfer or
hypothecation of any class of stock or other ownership interest in such corporation, association,
partnership or limited liability company in excess of twenty-five percent (25%) in the aggregate in
one transaction or series of related transactions shall be deemed an assignment within the meaning
and provisions of this Article 15. Tenant may transfer its interest pursuant to this Lease
only upon the following express conditions, which conditions are agreed by Landlord and Tenant to
be reasonable:

               (a) That the proposed transferee shall be subject to the prior written consent of
Landlord, which consent will not be unreasonably withheld but, without limiting the
generality of the foregoing, it shall be reasonable for Landlord to deny such consent if:

               (i) The use to be made of the Premises by the proposed transferee is (a)
not generally consistent with the character and nature of all other tenancies in the
Project, or (b) a use which conflicts with any so-called “exclusive” then in favor
of, or for any use which is the same as that stated in any percentage rent lease to,
another tenant of the Project or any other buildings which are in the same complex
as the Project, or (c) a use which would be prohibited by any other portion of this
Lease (including, but not limited to, any Rules and Regulations then in effect);

               (ii) The financial responsibility of the proposed transferee is not
reasonably satisfactory to Landlord; or

               (iii) The proposed transferee is either a governmental agency or
instrumentality thereof.

               (b) Whether or not Landlord consents to any such transfer,
Tenant shall pay to Landlord Landlord’s then standard processing fee and
reasonable attorneys’ fees incurred in connection with the proposed transfer up
to the aggregate sum of $1,500.00;

               (c) That the proposed transferee shall execute an agreement
pursuant to which it shall agree to perform faithfully and be bound by all of the
terms, covenants, conditions, provisions and agreements of this Lease
applicable to that portion of the Premises so transferred;

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               (d) That an executed duplicate original of said assignment and
assumption agreement or other transfer on a form reasonably approved by
Landlord, shall be delivered to Landlord within five (5) days after the execution
thereof, and that such transfer shall not be binding upon Landlord until the
delivery thereof to Landlord and the execution and delivery of Landlord’s
consent thereto. It shall be a condition to Landlord’s consent to any subleasing,
assignment or other transfer of part or all of Tenant’s interest in the Premises
(hereinafter referred to as a “Transfer”) that (i) upon Landlord’s consent to any
Transfer, Tenant shall pay and continue to pay fifty percent (50%) of any
“Transfer Premium” (defined below), received by Tenant from the transferee;
(ii) any sublessee of part or all of Tenant’s interest in the Premises shall agree
that in the event Landlord gives such sublessee notice that Tenant is in default
under this Lease, such sublessee shall thereafter make all sublease or other
payments directly to Landlord, which will be received by Landlord without any
liability whether to honor the sublease or otherwise (except to credit such
payments against sums due under this Lease), and any sublessee shall agree to
attorn to Landlord or its successors and assigns at their request should this
Lease be terminated for any reason, except that in no event shall Landlord or its
successors or assigns be obligated to accept such attornment; (iii) any such
Transfer and consent shall be effected on forms supplied by Landlord and/or its
legal counsel; (iv) Landlord may require that Tenant not then be in default
hereunder in any respect; and (v) Tenant or the proposed subtenant or assignee
(collectively, “Transferee”) shall agree to pay Landlord, upon demand, as
additional rent, a sum equal to the additional costs, if any, incurred by Landlord
for maintenance and repair as a result of any change in the nature of occupancy
caused by such subletting or assignment. “Transfer Premium” shall mean all
rent, additional rent or other consideration payable by a Transferee in
connection with a Transfer in excess of the rent and Additional Rent payable by
Tenant under this Lease during the term of the Transfer and if such Transfer is
less than all of the Premises, the Transfer Premium shall be calculated on a
rentable square foot basis. “Transfer Premium” shall also include, but not be
limited to, key money, bonus money or other cash consideration paid by a transferee to
Tenant in connection with such Transfer, and any payment in excess of fair market value for
services rendered by Tenant, to the Transferee and any payment in excess of fair market
value for assets, fixtures, inventory, equipment, or furniture transferred by Tenant to the
Transferee in connection with such Transfer. Prior to calculating the Transfer Premium,
Landlord shall first deduct the actual out-of-pocket costs incurred by Tenant in reletting
the Premises, including brokerage fees and attorneys’ fees paid to third party unaffiliated
brokers and attorneys, and demising walls and new tenant improvements. Any sale assignment,
hypothecation, transfer or subletting of this Lease which is not in compliance with the
provisions of this Article 15 shall be void and shall, at the option of Landlord,
terminate this Lease. In no event shall the consent by Landlord to an assignment or
subletting be construed as relieving Tenant, any assignee, or sublessee from obtaining the
express written

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consent of Landlord to any further assignment or subletting, or as releasing Tenant
from any liability or obligation hereunder whether or not then accrued and Tenant shall
continue to be fully liable therefor. No collection or acceptance of rent by Landlord from
any person other than Tenant shall be deemed a waiver of any provision of this Article
15 or the acceptance of any assignee or subtenant hereunder, or a release of Tenant (or
of any successor of Tenant or any subtenant). Notwithstanding anything to the contrary in
this Lease, if Tenant or any proposed Transferee claims that Landlord has unreasonably
withheld or delayed its consent under this Article 15 or otherwise has breached or
acted unreasonably under this Article 15, their sole remedies shall be a declaratory
judgment and an injunction for the relief sought without any monetary damages, and Tenant
hereby waives all other remedies, including, without limitation, any right at law or equity
to terminate this Lease, on its own behalf and, to the extent permitted under all applicable
laws, on behalf of the proposed Transferee.

               Notwithstanding anything to the contrary contained in this Article 15, Landlord
shall have the option, by giving written notice to Tenant within thirty (30) days after
Landlord’s receipt of a request for consent to a proposed Transfer, to terminate this Lease
as to the portion of the Premises that is the subject of the Transfer. If this Lease is so
terminated with respect to less than the entire Premises, the Basic Rental and Tenant’s
Proportionate Share shall be prorated based on the number of rentable square feet retained
by Tenant as compared to the total number of rentable square feet contained in the original
Premises, and this Lease as so amended shall continue thereafter in full force and effect,
and upon the request of either party, the parties shall execute written confirmation of the
same.

               (e) Notwithstanding anything to the contrary contained herein, Landlord’s consent
shall not be required in connection with any assignment in connection with a consolidation,
merger or purchase of substantially all of Tenant’s assets to a person or entity (A) whose
financial strength, both in terms of net worth and in terms of reasonably anticipated cash
flow over the Lease Term, is not materially less than Tenant’s financial strength at the
time of the execution of this Lease, or (B) who has provided such guaranties or other
security reasonably satisfactory to Landlord to guaranty the replacement tenant’s
performance under the Lease.

ARTICLE 16 

DAMAGE OR DESTRUCTION

          If the Project is damaged by fire or other insured casualty and the insurance proceeds have
been made available therefor by the holder or holders of any mortgages or deeds of trust covering
the Premises or the Project, the damage shall be

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repaired by Landlord to the extent such insurance proceeds are available therefor and provided
such repairs can, in Landlord’s sole opinion, be completed within two hundred seventy (270) days
after the necessity for repairs as a result of such damage becomes known to Landlord without the
payment of overtime or other premiums, and until such repairs are completed rent shall be abated in
proportion to the part of the Premises which is unusable by Tenant in the conduct of its business
(but there shall be no abatement of rent by reason of any portion of the Premises being unusable
for a period equal to one (1) day or less). Upon the occurrence of any damage to the Premises,
Tenant shall assign to Landlord (or to any party designated by Landlord) all insurance proceeds
payable to Tenant under Section 14(a)(ii)(A) above; provided, however, that if the cost of
repair of improvements within the Premises by Landlord exceeds the amount of insurance proceeds
received by Landlord from Tenant’s insurance carrier, as so assigned by Tenant, such excess costs
shall be paid by Tenant to Landlord prior to Landlord’s repair of such damage. If repairs cannot,
in Landlord’s opinion, be completed within two hundred seventy (270) days after the necessity for
repairs as a result of such damage becomes known to Landlord without the payment of overtime or
other premiums, either party may, at its option, elect to terminate this Lease by written notice to
the other within thirty (30) days after Landlord’s determination of the anticipated time needed to
complete the repairs. In addition, Landlord may elect to terminate this Lease if the Project shall
be damaged by fire or other casualty or cause, whether or not the Premises are affected, and the
damage is not fully covered, except for deductible amounts, by Landlord’s insurance policies.
Finally, if the Premises or the Project is damaged to any substantial extent during the last twelve
(12) months of the Term, then notwithstanding anything contained in this Article 16 to the
contrary, either party shall have the option to terminate this Lease by giving written notice to
the other of the exercise of such option within sixty (60) days after such party learns of the
necessity for repairs as the result of such damage. A total destruction of the Project shall
automatically terminate this Lease. Except as provided in this Article 16, there shall be
no abatement of rent and no liability of Landlord by reason of any injury to or interference with
Tenant’s business or property arising from such damage or destruction or the making of any repairs,
alterations or improvements in or to any portion of the Project or the Premises or in or to
fixtures, appurtenances and equipment therein. Tenant understands that Landlord will not carry
insurance of any kind on Tenant’s furniture, furnishings, trade fixtures or equipment, and that
Landlord shall not be obligated to repair any damage thereto or replace the same. Except for
proceeds relating to Tenant’s furniture, furnishings, trade fixtures and equipment, Tenant
acknowledges that Tenant shall have no right to any proceeds of insurance relating to property
damage. With respect to any damage which Landlord is obligated to repair or elects to repair,
Tenant, as a material inducement to Landlord entering into this Lease, irrevocably waives and
releases its rights under the provisions of Sections 1932 and 1933 of the California Civil Code.

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ARTICLE 17

SUBORDINATION

          This Lease is subject and subordinate to all ground or underlying leases, mortgages and deeds
of trust which affect the property or the Project, including all renewals, modifications,
consolidations, replacements and extensions thereof; provided, however, if the lessor under any
such lease or the holder or holders of any such mortgage or deed of trust shall advise Landlord
that they desire or require this Lease to be prior and superior thereto, upon written request of
Landlord to Tenant, Tenant agrees to promptly execute, acknowledge and deliver any and all
documents or instruments which Landlord or such lessor, holder or holders deem necessary or
desirable for purposes thereof. Landlord shall have the right to cause this Lease to be and become
and remain subject and subordinate to any and all ground or underlying leases, mortgages or deeds
of trust which may hereafter be executed covering the Premises, the Project or the property or any
renewals, modifications, consolidations, replacements or extensions thereof, for the full amount of
all advances made or to be made thereunder and without regard to the time or character of such
advances, together with interest thereon and subject to all the terms and provisions thereof;
provided, however, that Landlord obtains from the lender or other party in question a written
undertaking in favor of Tenant to the effect that such lender or other party will not disturb
Tenant’s right of possession under this Lease if Tenant is not then or thereafter in breach of any
covenant or provision of this Lease. Tenant agrees, within ten (10) days after Landlord’s written
request therefor, to execute, acknowledge and deliver upon request any and all documents or
instruments requested by Landlord or necessary or proper to assure the subordination of this Lease
to any such mortgages, deeds of trust, or leasehold estates. Tenant agrees that in the event any
proceedings are brought for the foreclosure of any mortgage or deed of trust or any deed in lieu
thereof, to attorn to the purchaser or any successors thereto upon any such foreclosure sale or
deed in lieu thereof as so requested to do so by such purchaser and to recognize such purchaser as
the lessor under this Lease; Tenant shall, within five (5) days after request execute such further
instruments or assurances as such purchaser may reasonably deem necessary to evidence or confirm
such attornment. Tenant agrees to provide copies of any notices of Landlord’s default under this
Lease to any mortgagee or deed of trust beneficiary whose address has been provided to Tenant and
Tenant shall provide such mortgagee or deed of trust beneficiary a commercially reasonable time
after receipt of such notice within which to cure any such default. Tenant waives the provisions of
any current or future statute, rule or law which may give or purport to give Tenant any right or
election to terminate or otherwise adversely affect this Lease and the obligations of the Tenant
hereunder in the event of any foreclosure proceeding or sale.

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ARTICLE 18

EMINENT DOMAIN

          If the whole of the Premises or the Project or so much thereof as to render the balance
unusable by Tenant shall be taken under power of eminent domain, or is sold, transferred or
conveyed in lieu thereof, this Lease shall automatically terminate as of the date of such
condemnation, or as of the date possession is taken by the condemning authority, at Landlord’s
option. No award for any partial or entire taking shall be apportioned, and Tenant hereby assigns
to Landlord any award which may be made in such taking or condemnation, together with any and all
rights of Tenant now or hereafter arising in or to the same or any part thereof; provided, however,
that nothing contained herein shall be deemed to give Landlord any interest in or to require Tenant
to assign to Landlord any award made to Tenant for the taking of personal property and trade
fixtures belonging to Tenant and removable by Tenant at the expiration of the Term hereof as
provided hereunder or for the interruption of, or damage to, Tenant’s business. In the event of a
partial taking described in this Article 18, or a sale, transfer or conveyance in lieu
thereof, which does not result in a termination of this Lease, the rent shall be apportioned
according to the ratio that the part of the Premises remaining useable by Tenant bears to the total
area of the Premises. Tenant hereby waives any and all rights it might otherwise have pursuant to
Section 1265.130 of the California Code of Civil Procedure.

ARTICLE 19

DEFAULT

          Each of the following acts or omissions of Tenant or of any guarantor of Tenant’s performance
hereunder, or occurrences, shall constitute an “Event of Default”:

          (a) Failure or refusal to pay Basic Rental, Additional Rent or
any other amount to be paid by Tenant to Landlord hereunder within three (3)
calendar days after notice that the same is due or payable hereunder; said three
(3) day period shall be in lieu of, and not in addition to, the notice requirements
of Section 1161 of the California Code of Civil Procedure or any similar or
successor law;

               (b) Except as set forth in items (a) above and (c) through and
including (g) below, failure to perform or observe any other covenant or
condition of this Lease to be performed or observed within thirty (30) days
following written notice to Tenant of such failure. Such thirty (30) day notice
shall be in lieu of, and not in addition to, any required under Section 1161 of
the California Code of Civil Procedure or any similar or successor law;

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               (c) Abandonment or vacating or failure to accept tender of
possession of the Premises or any significant portion thereof;

               (d) The taking in execution or by similar process or law (other
than by eminent domain) of the estate hereby created;

               (e) The filing by Tenant or any guarantor hereunder in any
court pursuant to any statute of a petition in bankruptcy or insolvency or for
reorganization or arrangement for the appointment of a receiver of all or a
portion of Tenant’s property; the filing against Tenant or any guarantor
hereunder of any such petition, or the commencement of a proceeding for the
appointment of a trustee, receiver or liquidator for Tenant, or for any guarantor
hereunder, or of any of the property of either, or a proceeding by any
governmental authority for the dissolution or liquidation of Tenant or any
guarantor hereunder, if such proceeding shall not be dismissed or trusteeship
discontinued within thirty (30) days after commencement of such proceeding or
the appointment of such trustee or receiver; or the making by Tenant or any
guarantor hereunder of an assignment for the benefit of creditors. Tenant
hereby stipulates to the lifting of the automatic stay in effect and relief from
such stay for Landlord in the event Tenant files a petition under the United
States Bankruptcy laws, for the purpose of Landlord pursuing its rights and
remedies against Tenant and/or a guarantor of this Lease;

               (f) Tenant’s failure to cause to be released any mechanics liens
filed against the Premises or the Project within twenty (20) days after the date
the same shall have been filed or recorded; or

               (g) Tenant’s failure to observe or perform according to the provisions of
Articles 17 or 25 within ten (10) business days after written notice from
Landlord.

          All defaults by either party of any covenant or condition of this Lease shall be deemed by the
parties hereto to be material.

ARTICLE 20

REMEDIES

               (a) Upon the occurrence of an Event of Default under this Lease as provided in
Article 19 hereof, Landlord may exercise all of its remedies as may be permitted by
law, including but not limited to the remedy provided by Section 1951.4 of the California
Civil Code, and including without limitation, terminating this Lease, reentering the
Premises and removing all persons and property therefrom, which property may be stored by
Landlord at a warehouse or elsewhere at the risk, expense and for the account of Tenant. If

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Landlord elects to terminate this Lease, Landlord shall be entitled to recover from
Tenant the aggregate of all amounts permitted by law, including but not limited to (i) the
worth at the time of award of the amount of any unpaid rent which had been earned at the
time of such termination; plus (ii) the worth at the time of award of the amount by which
the unpaid rent which would have been earned after termination until the time of award
exceeds the amount of such rental loss that Tenant proves could have been reasonably
avoided; plus (iii) the worth at the time of award of the amount by which the unpaid rent
for the balance of the Lease Term after the time of award exceeds the amount of such rental
loss that Tenant proves could have been reasonably avoided; plus (iv) any other amount
necessary to compensate Landlord for all the detriment proximately caused by Tenant’s
failure to perform its obligations under this Lease or which in the ordinary course of
things would be likely to result therefrom, specifically including but not limited to,
brokerage commissions and advertising expenses incurred, expenses of remodeling the Premises
or any portion thereof for a new tenant, whether for the same or a different use, and any
special concessions made to obtain a new tenant; and (v) at Landlord’s election, such other
amounts in addition to or in lieu of the foregoing as may be permitted from time to time by
applicable law. The term “rent” as used in this Article 20(a) shall be deemed to be
and to mean all sums of every nature required to be paid by Tenant pursuant to the terms of
this Lease, whether to Landlord or to others. As used in items (i) and (ii), above, the
“worth at the time of award” shall be computed by allowing interest at the rate set forth in
item (e), below, but in no case greater than the maximum amount of such interest permitted
by law. As used in item (iii), above, the “worth at the time of award” shall be computed by
discounting such amount at the discount rate of the Federal Reserve Bank of San Francisco at
the time of award plus one percent (1%).

               (b) Nothing in this Article 20 shall be deemed to affect Landlord’s right to
indemnification for liability or liabilities arising prior to the termination of this Lease
for personal injuries or property damage under the indemnification clause or clauses
contained in this Lease.

               (c) Notwithstanding anything to the contrary set forth herein, Landlord’s re-entry to
perform acts of maintenance or preservation of or in connection with efforts to relet the
Premises or any portion thereof, or the appointment of a receiver upon Landlord’s initiative
to protect Landlord’s interest under this Lease shall not terminate Tenant’s right to
possession of the Premises or any portion thereof and, until Landlord does elect to
terminate this Lease, this Lease shall continue in full force and effect and Landlord
may enforce all of Landlord’s rights and remedies hereunder including, without limitation,
the remedy described in California Civil Code Section 1951.4 (lessor may continue lease in
effect after lessee’s breach and abandonment and recover rent as it becomes due, if lessee
has the right to sublet or assign, subject only to

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reasonable limitations). Accordingly, if Landlord does not elect to terminate
this Lease on account of any default by Tenant, Landlord may, from time to
time, without terminating this Lease, enforce all of its rights and remedies under
this Lease, including the right to recover all rent as it becomes due.

          (d) All rights, powers and remedies of Landlord hereunder and
under any other agreement now or hereafter in force between Landlord and
Tenant shall be cumulative and not alternative and shall be in addition to all
rights, powers and remedies given to Landlord by law, and the exercise of one
or more rights or remedies shall not impair Landlord’s right to exercise any
other right or remedy.

          (e) Any amount due from Tenant to Landlord hereunder which
is not paid when due shall bear interest at the lower of eighteen percent (18%)
per annum or the maximum lawful rate of interest from the due date until paid,
unless otherwise specifically provided herein, but the payment of such interest
shall not excuse or cure any default by Tenant under this Lease. In addition to
such interest: (i) if Basic Rental is not paid within ten (10) days after receipt of
written notice that the same is due, a late charge equal to ten percent (10%) of
the amount overdue or $100, whichever is greater, shall be assessed and shall
accrue for each calendar month or part thereof until such rental, including the
late charge, is paid in full, which late charge Tenant hereby agrees is a reasonable estimate of the damages Landlord shall suffer as a result of Tenant’s late
payment and (ii) an additional charge of $25 shall be assessed for any check given to
Landlord by or on behalf of Tenant which is not honored by the drawee thereof; which damages
include Landlord’s additional administrative and other costs associated with such late
payment and unsatisfied checks and the parties agree that it would be impracticable or
extremely difficult to fix Landlord’s actual damage in such event. Such charges for interest
and late payments and unsatisfied checks are separate and cumulative and are in addition to
and shall not diminish or represent a substitute for any or all of Landlord’s rights or
remedies under any other provision of this Lease.

ARTICLE 21 

TRANSFER OF LANDLORD’S INTEREST

          In the event of any transfer or termination of Landlord’s interest in the Premises or the
Project by sale, assignment, transfer, foreclosure, deed-in-lieu of foreclosure or otherwise,
whether voluntary or involuntary, Landlord shall be automatically relieved of any and all
obligations and liabilities on the part of Landlord from and after the date of such transfer or
termination, including furthermore without limitation, the obligation of Landlord under Article
4 and California Civil Code 1950.7, above, to return the security deposit, provided said
security deposit is transferred to said transferee. Tenant agrees to attorn to the transferee upon
any such

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transfer and to recognize such transferee as the lessor under this Lease and Tenant shall,
within five (5) days after request, execute such further instruments or assurances as such
transferee may reasonably deem necessary to evidence or confirm such attornment.

ARTICLE 22

BROKER

          In connection with this Lease, each party warrants and represents that it has had dealings
only with firm(s) set forth in Article l.H. of the Basic Lease Provisions and that it knows
of no other person or entity who is or might be entitled to a commission, finder’s fee or other
like payment in connection herewith and does hereby indemnify and agree to hold the other, its
agents, members, partners, representatives, officers, affiliates, shareholders, employees,
successors and assigns harmless from and against any and all loss, liability and expenses that it
may incur should such warranty and representation prove incorrect, inaccurate or false.

ARTICLE 23

PARKING

          If provided for in Article 1 of this Lease, Tenant shall rent from Landlord,
commencing on the Commencement Date, the number of unreserved parking passes set forth in
Article l.J. of this Lease, which parking passes shall pertain to the Project parking
facility. Tenant shall pay to Landlord for automobile parking passes the prevailing rate charged
from time to time at the location of such parking passes. In addition, Tenant shall be responsible
for the full amount of any taxes imposed by any governmental authority in connection with the
renting of such parking passes by Tenant or the use of the parking facility by Tenant. Tenant’s
continued right to use the parking passes is conditioned upon Tenant abiding by all rules and
regulations which are prescribed from time to time for the orderly operation and use of the parking
facility where the parking passes are located, including any sticker or other identification system
established by Landlord, Tenant’s cooperation in seeing that Tenant’s employees and visitors also
comply with such rules and regulations, and Tenant not being in default under this Lease. Landlord
specifically reserves the right to change the size, configuration, design, layout and all other
aspects of the Project parking facility at any time and Tenant acknowledges and agrees that
Landlord may, without incurring any liability to Tenant and without any abatement of rent under
this Lease, from time to time, close-off or restrict access to the Project parking facility for
purposes of permitting or facilitating any such construction, alteration or improvements. Landlord
may delegate its responsibilities hereunder to a parking operator or a lessee of the parking
facility in which case such parking operator or lessee shall have all the rights of control
attributed hereby to the Landlord. The parking passes rented by Tenant pursuant to this Article
23 are provided to Tenant solely for

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use by Tenant’s own personnel and such passes may not be transferred, assigned, subleased or
otherwise alienated by Tenant without Landlord’s prior approval. Tenant may validate visitor
parking by such method or methods as the Landlord may establish, at the validation rate from time
to time generally applicable to visitor parking.

ARTICLE 24

WAIVER

          No waiver by Landlord of any provision of this Lease shall be deemed to be a waiver of any
other provision hereof or of any subsequent breach by Tenant of the same or any other provision. No
provision of this Lease may be waived by Landlord, except by an instrument in writing executed by
Landlord. Landlord’s consent to or approval of any act by Tenant requiring Landlord’s consent or
approval shall not be deemed to render unnecessary the obtaining of Landlord’s consent to or
approval of any subsequent act of Tenant, whether or not similar to the act so consented to or
approved. No act or thing done by Landlord or Landlord’s agents during the Term of this Lease shall
be deemed an acceptance of a surrender of the Premises, and no agreement to accept such surrender
shall be valid unless in writing and signed by Landlord. Any payment by Tenant or receipt by
Landlord of an amount less than the total amount then due hereunder shall be deemed to be in
partial payment only thereof and not a waiver of the balance due or an accord and satisfaction,
notwithstanding any statement or endorsement to the contrary on any check or any other instrument
delivered concurrently therewith or in reference thereto. Accordingly, Landlord may accept any such
amount and negotiate any such check without prejudice to Landlord’s right to recover all balances
due and owing and to pursue its other rights against Tenant under this Lease, regardless of whether
Landlord makes any notation on such instrument of payment or otherwise notifies Tenant that such
acceptance or negotiation is without prejudice to Landlord’s rights.

ARTICLE 25

ESTOPPEL CERTIFICATE

          Tenant shall, at any time and from time to time, upon not less than ten business (10) days’
prior written notice from Landlord, execute, acknowledge and deliver to Landlord a statement in
writing certifying the following information, (but not limited to the following information in the
event further information is requested by Landlord): (i) that this Lease is unmodified and in full
force and effect (or, if modified, stating the nature of such modification and certifying that this
Lease, as modified, is in full force and effect); (ii) the dates to which the rental and other
charges are paid in advance, if any; (iii) the amount of Tenant’s security deposit, if any; and
(iv) acknowledging that there are not, to Tenant’s knowledge, any uncured defaults on the part of
Landlord hereunder, and no events or conditions then in existence which, with the passage of time
or notice or both, would constitute a default on the part of

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Landlord hereunder, or specifying such defaults, events or conditions, if any are claimed. It
is expressly understood and agreed that any such statement may be relied upon by any prospective
purchaser or encumbrancer of all or any portion of the Real Property. Tenant’s failure to deliver
such statement within such time shall constitute an admission by Tenant that all statements
contained therein are true and correct. Tenant agrees to execute all documents required in
accordance with this Article 25 within ten (10) business days after delivery of said
documents.

ARTICLE 26

LIABILITY OF LANDLORD

          Notwithstanding anything in this Lease to the contrary, any remedy of Tenant for the
collection of a judgment (or other judicial process) requiring the payment of money by Landlord in
the event of any default by Landlord hereunder or any claim, cause of action or obligation,
contractual, statutory or otherwise by Tenant against Landlord concerning, arising out of or
relating to any matter relating to this Lease and all of the covenants and conditions or any
obligations, contractual, statutory, or otherwise set forth herein, shall be limited solely and
exclusively to an amount which is equal to the lesser of (i) the interest of Landlord in and to the
Project, and (ii) the interest Landlord would have in the Project if the Project were encumbered by
third party debt in an amount equal to eighty percent (80%) of the then current value of the
Project (as such value is reasonably determined by Landlord). No other property or assets of
Landlord, or any member, officer, director, shareholder, partner, trustee, agent, servant or
employee of Landlord (the “Representative”) shall be subject to levy, execution or other
enforcement procedure for the satisfaction of Tenant’s remedies under or with respect to this
Lease, Landlord’s obligations to Tenant, whether contractual, statutory or otherwise, the
relationship of Landlord and Tenant hereunder, or Tenant’s use or occupancy of the Premises. Tenant
further understands that any liability, duty or obligation of Landlord to Tenant, shall
automatically cease and terminate as of the date that Landlord or any of Landlord’s Representatives
no longer have any right, title or interest in or to the Project.

ARTICLE 27

INABILITY TO PERFORM

          This Lease and the obligations of Landlord and Tenant hereunder shall not be affected or
impaired because Landlord or Tenant is unable to fulfill any of its obligations hereunder or is
delayed in doing so, if such inability or delay is caused by reason of any prevention, delay,
stoppage due to strikes, lockouts, acts of God, or any other cause previously, or at such time,
beyond the reasonable control or anticipation of Landlord or Tenant, as applicable (collectively, a
“Force Majeure”) and such party’s obligations under this Lease shall be forgiven and suspended by
any such Force Majeure. Notwithstanding the foregoing, Tenant’s obligations to pay Basic Rent,

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Additional Rent or any other amount to be paid by Tenant to Landlord shall not be forgiven or
suspended as a result of any such Force Majeure.

ARTICLE 28

HAZARDOUS WASTE

          (a) Tenant shall not cause or permit any Hazardous Material
(as defined in Article 28(d), below) to be brought, kept or used in or about the
Project by Tenant, its agents, employees, contractors, or invitees, except as
typically associated with general office use. Tenant indemnifies Landlord from
and against any breach by Tenant of the obligations stated in the preceding
sentence, and agrees to defend and hold Landlord harmless from and against
any and all claims, judgments, damages, penalties, fines, costs, liabilities, or
losses (including, without limitation, diminution in value of the Project,
damages for the loss or restriction or use of rentable or usable space or of any
amenity of the Project, damages arising from any adverse impact or marketing
of space in the Project, and sums paid in settlement of claims, attorneys’ fees,
consultant fees, and expert fees) which arise during or after the Term of this
Lease as a result of such breach. This indemnification of Landlord by Tenant
includes, without limitation, 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 Project. Without limiting the foregoing, if the presence of any
Hazardous Material on the Project caused or permitted by Tenant results in any
contamination of the Project and subject to the provisions of Articles 9,
10 and
11, hereof, Tenant shall promptly take all actions at its sole expense as are
necessary to return the Project to the condition existing prior to the introduction
of any such Hazardous Material and the contractors to be used by Tenant for
such work must be approved by Landlord, which approval shall not be
unreasonably withheld so long as such actions would not potentially have any
material adverse long-term or short-term effect on the Project and so long as
such actions do not materially interfere with the use and enjoyment of the
Project by the other tenants thereof.

          (b) Landlord and Tenant acknowledge that Landlord may
become legally liable for the costs of complying with Laws (as defined in
Article 28(e), below) relating to Hazardous Material which are not the
responsibility of Landlord or the responsibility of Tenant, including the
following: (i) Hazardous Material present in the soil or ground water on the
Project of which Landlord has no knowledge as of the effective date of this
Lease; (ii) a change in Laws which relate to Hazardous Material which make
that Hazardous Material which is present on the Real Property as of the
effective date of this Lease, whether known or unknown to Landlord, a

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violation of such new Laws; (iii) Hazardous Material that migrates, flows, percolates,
diffuses, or in any way moves on to, or under, the Project after the effective date of this
Lease; or Hazardous Material present on or under the Project as a result of any discharge,
dumping or spilling (whether accidental or otherwise) on the Project by other lessees of the
Project or their agents, employees, contractors, or invitees, or by others. Accordingly,
Landlord and Tenant agree that the cost of complying with Laws relating to Hazardous
Material on the Project for which Landlord is legally liable and which are paid or incurred
by Landlord shall be an Operating Cost (and Tenant shall pay Tenant’s Proportionate Share
thereof in accordance with Article 3) unless the cost of such compliance as between
Landlord and Tenant, is made the responsibility of Tenant pursuant to Article 28(a),
above. To the extent any such Operating Cost relating to Hazardous Material is subsequently
recovered or reimbursed through insurance, or recovery from responsible third parties or
other action, Tenant shall be entitled to a proportionate reimbursement to the extent it has
paid its share of such Operating Cost to which such recovery or reimbursement relates.

          (c) It shall not be unreasonable for Landlord to withhold its
consent to any proposed Transfer if (i) the proposed transferee’s anticipated use
of the Premises involves the generation, storage, use, treatment, or disposal of
Hazardous Material; (ii) the proposed Transferee has been required by any prior
landlord, lender, or governmental authority to take remedial action in
connection with Hazardous Material contaminating a property if the
contamination resulted from such Transferee’s actions or use of the property in
question; or (iii) the proposed Transferee is subject to an enforcement order
issued by any governmental authority in connection with the use, disposal, or
storage of a Hazardous Material.

          (d) As used herein, the term “Hazardous Material” means
any hazardous or toxic substance, material, or waste which is or becomes
regulated by any local governmental authority, the State of California or the
United States Government. The term “Hazardous Material” includes, without
limitation, any material or substance which is (i) defined as “Hazardous Waste,”
“Extremely Hazardous Waste,” or “Restricted Hazardous Waste” under Sections
25115, 25117 or 25122.7, or listed pursuant to Section 25140, of the California
Health and Safety Code, Division 20, Chapter 6.5 (Hazardous Waste Control
Law), (ii) defined as a “Hazardous Substance” under Section 25316 of the
California Health and Safety Code, Division 20, Chapter 6.8
(Carpenter-Presley-Tanner Hazardous Substance Account Act), (iii) defined as
a “Hazardous Material,” “Hazardous Substance,” or “Hazardous Waste” under Section 25501 of
the California Health and Safety Code, Division 20, Chapter 6.95 (Hazardous Materials
Release Response Plans and Inventory), (iv) defined as a “Hazardous Substance” under Section
25281 of the California Health and Safety Code, Division 20, Chapter 6.7 (Underground
Storage of Hazardous

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Substances), (v) petroleum, (vi) asbestos, (vii) listed under Article 9 or defined as
Hazardous or extremely hazardous pursuant to Article 11 of Title 22 of the California
Administrative Code, Division 4, Chapter 20, (viii) designated as a “Hazardous Substance”
pursuant to Section 311 of the Federal Water Pollution Control Act (33 U.S.C. § 1317), (ix)
defined as a “Hazardous Waste” pursuant to Section 1004 of the Federal Resource Conservation
and Recovery Act, 42 U.S.C. § 6901 et seq. (42 U.S.C. § 6903), or (x) defined as a
“Hazardous Substance” pursuant to Section 101 of the Comprehensive Environmental Response,
Compensation and Liability Act, 42 U.S.C. § 9601 et seq. (42 U.S.C. § 9601).

          (e) As used herein, the term “Laws” mean any applicable federal, state or local
laws, ordinances, or regulations relating to any Hazardous Material affecting the Project,
including, without limitation, the laws, ordinances, and regulations referred to in
Article 28(d), above.

ARTICLE 29 

SURRENDER OF PREMISES; REMOVAL OF PROPERTY

          (a) The voluntary or other surrender of this Lease by Tenant to
Landlord, or a mutual termination hereof, shall not work a merger, and shall at
the option of Landlord, operate as an assignment to it of any or all subleases or
subtenancies affecting the Premises.

          (b) Upon the expiration of the Term of this Lease, or upon any
earlier termination of this Lease, Tenant shall quit and surrender possession of
the Premises to Landlord in as good order and condition as the same are now
and hereafter may be improved by Landlord or Tenant, reasonable wear and
tear, damage caused by casualty, and repairs which are Landlord’s obligation
excepted, and shall, without expense to Landlord, remove or cause to be
removed from the Premises all debris and rubbish, all furniture, equipment,
business and trade fixtures, free-standing cabinet work, moveable partitioning
and other articles of personal property owned by Tenant or installed or placed
by Tenant at its own expense in the Premises, and all similar articles of any
other persons claiming under Tenant (including Tenant Licensees) unless
Landlord exercises its option to have any subleases or subtenancies assigned to
it, and Tenant shall repair all damage to the Premises resulting from the
installation and removal of such items to be removed.

          (c) Whenever Landlord shall reenter the Premises as provided
in Article 12 hereof, or as otherwise provided in this Lease, any property of
Tenant not removed by Tenant upon the expiration of the Term of this Lease (or within
forty-eight (48) hours after a termination by reason of Tenant’s default), as provided in
this Lease, shall be considered abandoned and Landlord may

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remove any or all of such items and dispose of the same in any manner or store the same
in a public warehouse or elsewhere for the account and at the expense and risk of Tenant,
and if Tenant shall fail to pay the cost of storing any such property after it has been
stored for a period of ninety (90) days or more, Landlord may sell any or all of such
property at public or private sale, in such manner and at such times and places as Landlord,
in its sole discretion, may deem proper, without notice or to demand upon Tenant, for the
payment of all or any part of such charges or the removal of any such property, and shall
apply the proceeds of such sale as follows: first, to the cost and expense of such sale,
including reasonable attorneys’ fees for services rendered; second, to the payment of the
cost of or charges for storing any such property; third, to the payment of any other sums of
money which may then or thereafter be due to Landlord from Tenant under any of the terms
hereof; and fourth, the balance, if any, to Tenant.

          (d) All fixtures, equipment, Alterations and/or appurtenances attached to or built
into the Premises prior to or during the Term, whether by Landlord or Tenant and whether at
the expense of Landlord or Tenant, or of both, shall be and remain part of the Premises and
shall not be removed by Tenant at the end of the Term unless otherwise expressly provided
for in this Lease or unless such removal is required by Landlord pursuant to the provisions
of Article 9, above. Such fixtures, equipment, Alterations, additions, improvements
and/or appurtenances shall include but not be limited to: all floor coverings, drapes,
paneling, built-in cabinetry, molding, doors, vaults (including vault doors), plumbing
systems, electrical systems, lighting systems, silencing equipment, communication systems,
all fixtures and outlets for the systems mentioned above and for all telephone, radio,
telegraph and television purposes, and any special flooring or ceiling installations.

ARTICLE 30 

EXISTING OCCUPANCY

          (a) Delays in Delivery. Notwithstanding anything to the contrary
contained herein, Tenant hereby acknowledges that the Premises are currently occupied by
another tenant pursuant to a lease agreement with Landlord. As a result of the failure of
the existing tenant to vacate the Premises in a timely manner, the Commencement Date may be
substantially delayed. Tenant hereby acknowledges and agrees that Landlord shall not be
liable for any damages, losses, liabilities, costs or expenses suffered or incurred by
Tenant as a result of Landlord’s inability or delay in delivering the Premises to Tenant
caused by the failure of the existing tenant to vacate the Premises upon the expiration of
the existing lease and as and when requested by Landlord. Landlord hereby agrees to
undertake commercially reasonable efforts to recover possession of the Premises after the
expiration of the existing lease; provided,

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however, that Landlord shall have no obligation to commence an action for unlawful
detainer and any decision to commence such an action shall be made in Landlord’s sole and
absolute discretion. Upon the existing tenant’s vacating of the Premises, Landlord shall
tender the Premises to Tenant. The Commencement Date shall be delayed in the event that
Landlord, for any reason other than Tenant’s unreasonable acts or omissions, fails to
deliver possession of the Premises to Tenant, including without limitation, due to the
failure of the existing tenant to vacate the Premises in a timely manner.

          (b) Partial Tenders. In the event that Landlord recovers less than all of
the Premises at one time, Landlord may tender such portion(s) of the Premises to Tenant and
Tenant shall accept the portion(s) of the Premises, as, and when, they are tendered, so long
as Landlord tenders the Premises in increments no smaller than a full floor of the Project
at a time. In such case, the Lease shall commence as to the portion(s) of the Premises, as,
and when, they are tendered; provided, however, that the Expiration Date for the Premises
shall be the date that is the eleventh anniversary of the Commencement Date. Landlord and
Tenant shall execute such amendments to this Lease as Landlord determines are reasonably
necessary to identify the portion(s) of the Premises then tendered and the proportionate
amount of Basic Rent and Tenant’s Proportionate Share applicable to the tendered portion(s)
of the Premises.

ARTICLE 31

OPTION TO RENEW

          (a) Provided that Tenant is not then in default, Tenant shall have the option
(“Option”) to renew this Lease for one (1) additional term of five (5) years (the “Option
Term”). The rent during such Option Term shall be at the then prevailing market rate for
comparable space (with respect to size, location and quality) and comparable term in Class-A
office buildings located within a three-mile radius of the Project which is not subleased or
subject to another tenant’s expansion rights. Tenant shall notify Landlord of its intention
to exercise such Option at least six (6) months prior to the Expiration Date for the initial
Term. Notwithstanding any provision to the contrary contained in this Lease, the foregoing
Option is personal to Tenant, and may not be exercised by or on behalf of any assignee,
subtenant or Tenant Licensees, except for an assignee who purchases all or substantially all
of the assets of Tenant and (A) whose financial strength, both in terms of net worth and in
terms of reasonably anticipated cash flow over the Lease Term, is not materially less than
Tenant’s financial strength at the time of the execution of this Lease, or (B) who has
provided such guaranties or other security reasonably satisfactory to Landlord to guaranty
the assignee’s performance under this Lease (“Qualified Successor”).

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          (b) Within thirty (30) days of such notification, Landlord shall submit Landlord’s
determination of the then prevailing market rent to Tenant, together with the comparable
rent information on which Landlord has relied in making its determination. In the event that
Tenant notifies Landlord in writing, on or before the thirtieth (30th) business day
following Tenant’s receipt of notice of Landlord’s determination of the then market rent
under this Section of this Lease, that Tenant reasonably disagrees with any such
determination, Landlord and Tenant shall negotiate in good faith to resolve such dispute
within ten (10) business days thereafter. If not resolved within such period, the issue
shall be referred to an individual (the “Expert”) agreed upon by Landlord and Tenant or
(failing such agreement) appointed by two individuals, one of which shall be chosen by
Landlord and one of which shall be chosen by Tenant. The Expert shall in any event have at
least five (5) years experience in leasing office space in San Francisco, California, and
shall not have been employed by either party within the immediately preceding twelve (12)
calendar months. The Expert shall be deemed to be acting as an expert and not as an
arbitrator, and shall determine the applicable market rent within thirty (30) days after his
appointment. The “then prevailing market rent” which shall apply for purposes of the
applicable provision of this Lease shall be the rent determined by either Landlord or Tenant
which is closest to the Expert’s determination, and the party that is not closest shall pay
all of the costs and expenses incurred in connection with the appointment of, and services
of, the Expert. Until any such dispute is resolved, any applicable payments due under this
Lease shall correspond to Landlord’s determination and, if applicable, Landlord shall refund
any overpayments made to Tenant within three (3) business days following the final
resolution of the dispute. Notwithstanding anything to the contrary contained above, in no
event shall rent for the Option Term be less than the rental rate in effect as of the
initially scheduled Expiration Date.

ARTICLE 32

RIGHT OF FIRST OFFER

          Provided that no default by Tenant has occurred and remained uncured beyond any applicable
cure period under any term or provision contained in this Lease and no condition exists which with
the passage of time or the giving of notice or both would constitute a default pursuant to this
Lease, Tenant (but not any assignee, subtenant or licensee, except for a Qualified
Successor) shall have the right, subject to the terms and conditions set forth below, to lease
any space contiguous to space then leased by Tenant in the Project or any space on the ninth floor
of the Project (each, a “First Offer Space”), if, and when, the First Offer Space becomes
“available” (as defined below) for leasing, before it is leased to any third party.

          If at any time during the Term of this Lease, First Offer Space becomes available for leasing,
Landlord shall endeavor to give Tenant notice (the “Landlord

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Notice”) of the availability of such First Offer Space no later than the later of (i) two (2)
months prior to the date on which such First Offer Space shall become available, or (ii) promptly
after Landlord learns that such First Offer Space will become available, and in either event, prior
to offering the First Offer Space for lease to any third party; provided, however, that Landlord’s
failure to deliver Landlord Notice for any First Offer Space shall not be deemed a default by
Landlord under this Lease. As used herein, “available” means the existing occupant has declined to
enter into a new lease for the First Offer Space, and no third party has an option or other right
to lease the First Offer Space granted prior to the time of the grant contained herein. If Tenant
does not give Landlord written notice (the “Tenant Notice”), within five (5) business days after
Tenant’s receipt of the Landlord Notice, that Tenant is interested in leasing all of the available
First Offer Space, or Landlord and Tenant have not, within ten (10) days after Landlord’s receipt
of the Tenant Notice, agreed on the basic lease terms for the First Offer Space, including the
rental rate, the term, the operating expense allowance, if any, and which party bears the cost of
constructing leasehold improvements, then, in either such event, Landlord may offer such First
Offer Space for lease to third parties, including offering to third parties lease terms more
favorable than the lease terms offered by Landlord to Tenant. Notwithstanding the foregoing, in no
event shall the Monthly Basic Rental per rentable square foot for any First Offer Space be less
than the Monthly Basic Rental per rentable square foot for the Premises set forth in Article
l.C, above, at the time of the commencement date for said First Offer Space. If Landlord and
Tenant agree on the basic lease terms, the First Offer Space shall be added to this Lease by
amendment. This right of first offer is a one-time right for each portion of the Project
constituting First Offer Space from time to time and shall not apply to said portion of the Project
constituting First Offer Space if it becomes available at any time after that portion of First
Offer Space is initially offered to Tenant pursuant to this provision. Upon the occurrence of any
Event of Default by Tenant under this Lease beyond any applicable notice and cure periods, the
Right of First Offer contained in this Article 32 shall be deemed to have been permanently waived
by Tenant and shall be of no further force or effect.

ARTICLE 33

MISCELLANEOUS

     (a) Severability; Entire Agreement. Any provision of this
Lease which shall prove to be invalid, void, or illegal shall in no way affect,
impair or invalidate any other provision hereof and such other provisions shall
remain in full force and effect. This Lease and the Exhibits and any Addendum
attached hereto constitute the entire agreement between the parties hereto with
respect to the subject matter hereof, and no prior agreement or understanding
pertaining to any such matter shall be effective for any purpose. No provision
of this Lease may be amended or supplemented except by an agreement in
writing signed by the parties hereto or their successor in interest.

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     (b) Attorneys’ Fees; Waiver of Jury Trial.

          (i) In any action to enforce the terms of this Lease, including any suit
by Landlord for the recovery of rent or possession of the Premises, the losing party
shall pay the successful party a reasonable sum for attorneys’ fees in such suit and
such attorneys’ fees shall be deemed to have accrued prior to the commencement of
such action and shall be paid whether or not such action is prosecuted to judgment.

          (ii) Should Landlord, without fault on Landlord’s part, be made a party to
any litigation instituted by Tenant or by any third party against Tenant, or by or
against any person holding under or using the Premises by license of Tenant, or for
the foreclosure of any lien for labor or material furnished to or for Tenant or any
such other person or otherwise arising out of or resulting from any act or
transaction of Tenant or of any such other person, Tenant covenants to save and hold
Landlord harmless from any judgment rendered against Landlord or the Premises or any
part thereof and from all costs and expenses, including reasonable attorneys’ fees
incurred by Landlord in connection with such litigation.

          (iii) When legal services are rendered by an attorney at law who is an
employee of a party, attorneys’ fees incurred by that party shall be deemed to
include an amount based upon the number of hours spent by such employee on such
matters multiplied by an appropriate billing rate determined by taking into
consideration the same factors, including but not limited by, the importance of the
matter, time applied, difficulty and results, as are considered when an attorney not
in the employ of a party is engaged to render such service.

          (iv) EACH PARTY HEREBY WAIVES ANY RIGHT TO A TRIAL BY JURY IN ANY
ACTION SEEKING SPECIFIC PERFORMANCE OF ANY PROVISION OF THIS LEASE, FOR
DAMAGES FOR ANY BREACH UNDER THIS LEASE, OR OTHERWISE FOR ENFORCEMENT OF ANY
RIGHT OR REMEDY HEREUNDER.

     (c) Time of Essence. Each of Tenant’s covenants herein is a
condition and time is of the essence with respect to the performance of every
provision of this Lease.

     (d) Headings; Joint and Several. The article headings
contained in this Lease are for convenience only and do not in any way limit or
amplify any term or provision hereof. The terms “Landlord” and “Tenant” as
used herein shall include the plural as well as the singular, the neuter shall

 - 51 -

 

include the masculine and feminine genders and the obligations herein imposed
upon Tenant shall be joint and several as to each of the persons, firms or
corporations of which Tenant may be composed.

          (e) Reserved Area. Tenant hereby acknowledges and agrees
that the exterior walls of the Premises and the area between the finished ceiling
of the Premises and the slab of the floor of the project thereabove have not been
demised hereby and the use thereof together with the right to install, maintain,
use, repair and replace pipes, ducts, conduits and wires leading through, under
or above the Premises in locations which will not materially interfere with
Tenant’s use of the Premises and serving other parts of the Project are hereby
excepted and reserved unto Landlord.

          (f) NO OPTION. THE SUBMISSION OF THIS LEASE
BY LANDLORD, ITS AGENT OR REPRESENTATIVE FOR
EXAMINATION OR EXECUTION BY TENANT DOES NOT
CONSTITUTE AN OPTION OR OFFER TO LEASE THE PREMISES
UPON THE TERMS AND CONDITIONS CONTAINED HEREIN OR A
RESERVATION OF THE PREMISES IN FAVOR OF TENANT, IT
BEING INTENDED HEREBY THAT THIS LEASE SHALL ONLY
BECOME EFFECTIVE UPON THE EXECUTION HEREOF BY
LANDLORD AND DELIVERY OF A FULLY EXECUTED LEASE TO
TENANT.

          (g) Use of Project Name; Improvements. Tenant shall not be
allowed to use the name, picture or representation of the Project, or words to
that effect, in connection with any business carried on in the Premises or
otherwise (except as Tenant’s address) without the prior written consent of
Landlord. In the event that Landlord undertakes any additional improvements
on the Real Property including, but not limited to, new construction or renovation or
additions to the existing improvements, Landlord shall not be liable to Tenant for any
noise, dust, vibration or interference with access to the Premises or disruption in Tenant’s
business caused thereby.

          (h) Rules and Regulations. Tenant shall observe faithfully and comply
strictly with the Rules and Regulations attached to this Lease as Exhibit “B” and made a
part hereof, and such other Rules and Regulations as Landlord may from time to time
reasonably adopt for the safety, care and cleanliness of the Project, the facilities
thereof, or the preservation of good order therein. Landlord shall not be liable to Tenant
for violation of any such Rules and Regulations, or for the breach of any covenant or
condition in any lease by any other tenant in the Project. A waiver by Landlord of any Rule
or Regulation for any other tenant shall not constitute nor be deemed a waiver of the Rule
or Regulation for this Tenant.

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          (i) Quiet Possession. Upon Tenant’s paying the Basic Rent, Additional
Rent and other sums provided hereunder and observing and performing all of the covenants,
conditions and provisions on Tenant’s part to be observed and performed hereunder, Tenant
shall have quiet possession of the Premises for the entire Term hereof, subject to the
provisions of Article 1 and Article 30 and of all other provisions of this
Lease.

          (j) Rent. All payments required to be made hereunder to Landlord
shall be deemed to be rent, whether or not described as such.

          (k) Successors and Assigns. Subject to the provisions of Article
15 hereof, all of the covenants, conditions and provisions of this Lease shall be
binding upon and shall inure to the benefit of the parties hereto and their respective
heirs, personal representatives, successors and assigns.

          (1) Notices. Any notice required or permitted to be given hereunder shall
be in writing and may be given by personal service evidenced by a signed receipt or sent by
registered or certified mail, return receipt requested, addressed to Tenant at:

Thomas Weisel Partners Group, LLC One

Montgomery Street, 38th Floor San

Francisco, California 94104 Attention:

Corporate Facilities

     or to Landlord at:

TIAA-CREF Mortgage and Real Estate Division

730 3rd Avenue, 7th Floor New York, New York

10017 Attention: TIAA Real Estate Account

which shall be effective upon proof of delivery. The address for the payment of rent shall
be:

Department 00036

P.O. Box 39000

San Francisco, California 94139-0036

Either party may by notice to the other specify a different address for notice purposes
except that, upon Tenant’s taking possession of the Premises, the Premises shall constitute
Tenant’s address for notice purposes. A copy of all notices to be given to Landlord
hereunder shall be concurrently transmitted by Tenant to such party hereafter designated by
notice from Landlord to Tenant. Any notices sent by Landlord regarding or relating to
eviction procedures, including without limitation three day notices, may be sent by regular
mail.

 - 53 -

 

          (m) Right of Landlord to Perform. All covenants and

          agreements to be performed by Tenant under any of the terms of this Lease shall be performed
by Tenant at Tenant’s sole cost and expense and without any abatement of rent. If Tenant
shall fail to pay any sum of money, other than rent, required to be paid by it hereunder or
shall fail to perform any other act on its part to be performed hereunder, and such failure
shall continue beyond any applicable cure period set forth in this Lease, Landlord may, but
shall not be obligated to, without waiving or releasing Tenant from any obligations of
Tenant, make any such payment or perform any such other act on Tenant’s part to be made or
performed as is in this Lease provided. All sums so paid by Landlord and all reasonable
incidental costs, together with interest thereon at the rate often percent (10%) per annum
from the date of such payment by Landlord, shall be payable to Landlord on demand and Tenant
covenants to pay any such sums, and Landlord shall have (in addition to any other right or
remedy of Landlord) the same rights and remedies in the event of the nonpayment thereof by
Tenant as in the case of default by Tenant in the payment of the rent.

          (n) Access, Changes in Project Facilities, Name.

          (i) Every part of the Project except the inside surfaces of all walls,
windows and doors bounding the Premises (including exterior building walls, core
corridor walls and doors and any core corridor entrance), and any space in or
adjacent to the Premises used for shafts, stacks, pipes, conduits, fan rooms, ducts,
electric or other utilities, sinks or other building facilities, and the use
thereof, as well as access thereto through the Premises for the purposes of
operation, maintenance, decoration and repair, are reserved to Landlord.

          (ii) Tenant shall permit Landlord to install, use and maintain pipes,
ducts and conduits within the walls, columns and ceilings of the Premises.

          (iii) Landlord reserves the right, without incurring any liability to
Tenant therefor, to make such changes in or to the Project and the fixtures and
equipment thereof, as well as in or to the street entrances, halls, passages,
elevators, stairways and other improvements thereof, as it may deem necessary or
desirable.

          (iv) Landlord may adopt any name for the Project and Landlord reserves the
right to change the name or address of the Project at any time. Notwithstanding the
foregoing, so long as Tenant (excluding assignees, subtenants and Tenant Licensees)
occupies more rentable square feet in the Project than any other tenant, Landlord
shall not adopt a name for the Project that is the name of a direct competitor of

 - 54 -

 

Tenant, nor shall Landlord grant monument signage rights to a direct competitor
of Tenant.

          (o) Signing Authority. If Tenant is a corporation, partnership or limited
liability company, each individual executing this Lease on behalf of said entity represents
and warrants that he or she is duly authorized to execute and deliver this Lease on behalf
of said entity in accordance with: (i) if Tenant is a corporation, a duly adopted resolution
of the Board of Directors of said corporation or in accordance with the by-laws of said
corporation, (ii) if Tenant is a partnership, the terms of the partnership agreement, and
(iii) if Tenant is a limited liability company, the terms of its operating agreement, and
that this Lease is binding upon said entity in accordance with its terms. Concurrently with
Tenant’s execution of this Lease, Tenant shall provide to Landlord a copy of: (i) if Tenant
is a corporation, such resolution of the Board of Directors authorizing the execution of
this Lease on behalf of such corporation, which copy of resolution shall be duly certified
by the secretary or an assistant secretary of the corporation to be a true copy of a
resolution duly adopted by the Board of Directors of said corporation and shall be in a form
reasonably acceptable to Landlord, (ii) if Tenant is a partnership, a copy of the provisions
of the partnership agreement granting the requisite authority to each individual executing
this Lease on behalf of said partnership, and (iii) if Tenant is a limited liability
company, a copy of the provisions of its operating agreement granting the requisite
authority to each individual executing this Lease on behalf of said limited liability
company. In the event Tenant fails to comply with the requirements set forth in this
subparagraph (o), then each individual executing this Lease shall be personally liable for
all of Tenant’s obligations in this Lease.

          (p) Identification of Tenant.

          (i) If Tenant constitutes more than one person or entity,
(A) each of them shall be jointly and severally liable for the keeping,
observing and performing of all of the terms, covenants, conditions and
provisions of this Lease to be kept, observed and performed by Tenant,
(B) the term “Tenant” as used in this Lease shall mean and include each
of them jointly and severally, and (C) the act of or notice from, or notice
or refund to, or the signature of, any one or more of them, with respect to
the tenancy of this Lease, including, but not limited to, any renewal,
extension, expiration, termination or modification, of this Lease, shall be
binding upon each and all of the persons or entities executing this Lease
as Tenant with the same force and effect as if each and all of them had so
acted or so given or received such notice or refund or so signed.

          (ii) If Tenant is a partnership (or is comprised of two or more persons,
individually and as co-partners of a partnership) or if Tenant’s interest in this
Lease shall be assigned to a partnership (or to

 - 55 -

 

two or more persons, individually and as co-partners of a partnership) pursuant
to Article 15 hereof (any such partnership and such persons hereinafter
referred to in this Article 33(p)(ii> as “Partnership Tenant”), the
following provisions of this Lease shall apply to such Partnership Tenant:

          (A) The liability of each of the parties comprising Partnership
Tenant shall be joint and several.

          (B) Each of the parties comprising Partnership
Tenant hereby consents in advance to, and agrees to be bound by,
any written instrument which may hereafter be executed,
changing, modifying or discharging this Lease, in whole or in
part, or surrendering all or any part of the Premises to the
Landlord, and by notices, demands, requests or other
communication which may hereafter be given, by the individual or
individuals authorized to execute this Lease on behalf of
Partnership Tenant under Subparagraph (o) above.

          (C) Any bills, statements, notices, demands,
requests or other communications given or rendered to Partnership
Tenant or to any of the parties comprising Partnership Tenant
shall be deemed given or rendered to Partnership Tenant and to all
such parties and shall be binding upon Partnership Tenant and all
such parties.

          (D) If Partnership Tenant admits new partners, all
of such new partners shall, by their admission to Partnership
Tenant, be deemed to have assumed performance of all of the
terms, covenants and conditions of this Lease on Tenant’s part to
be observed and performed.

          (E) Partnership Tenant shall give prompt notice
to Landlord of the admission of any such new partners, and, upon
demand of Landlord, shall cause each such new partner to execute
and deliver to Landlord an agreement in form satisfactory to
Landlord, wherein each such new partner shall assume
performance of all of the terms, covenants and conditions of this
Lease on Partnership Tenant’s part to be observed and performed
(but neither Landlord’s failure to request any such agreement nor
the failure of any such new partner to execute or deliver any such
agreement to Landlord shall terminate the provisions of
clause (D) of this Article 33(p)(ii) or relieve any such new partner
of its obligations thereunder).

 - 56 -

 

          (q) Survival of Obligations. Any obligations of Tenant occurring
prior to the expiration or earlier termination of this Lease shall survive such
expiration or earlier termination.

          (r) Confidentiality. Tenant acknowledges that the content of this Lease
and any related documents are confidential information. Tenant shall keep such confidential
information strictly confidential and shall not disclose such confidential information to
any person or entity other than Tenant’s financial, legal and space planning consultants and
any proposed subtenants or assignees.

          (s) Governing Law. This Lease shall be governed by and construed in
accordance with the laws of the State of California. No conflicts of law rules of any state
or country (including, without limitation, California conflicts of law rules) shall be
applied to result in the application of any substantive or procedural laws of any state or
country other than California. All controversies, claims, actions or causes of action
arising between the parties hereto and/or their respective successors and assigns, shall be
brought, heard and adjudicated by the courts of the State of California, with venue in the
County of San Francisco. Each of the parties hereto hereby consents to personal jurisdiction
by the courts of the State of California in connection with any such controversy, claim,
action or cause of action, and each of the parties hereto consents to service of process by
any means authorized by California law and consent to the enforcement of any judgment so
obtained in the courts of the State of California on the same terms and conditions as if
such controversy, claim, action or cause of action had been originally heard and adjudicated
to a final judgment in such courts. Each of the parties hereto further acknowledges that the
laws and courts of California were freely and voluntarily chosen to govern this Lease and to
adjudicate any claims or disputes hereunder.

          (t) Consent. Whenever a party’s approval or consent is required
hereunder, then, unless another standard is stated hereunder, the party’s whose consent or
approval is required shall not unreasonably withhold or delay such consent or approval.

          (u) Exhibits and Addendum. The Exhibits and Addendum, if applicable, attached
hereto are incorporated herein by this reference as if fully set forth herein.

          (v) Tenant Signage. So long as Tenant occupies more rentable square feet
in the Project than any other tenant, Tenant shall be permitted to install and maintain,
at Tenant’s sole cost and expense, signage in the lobby of the Project. Notwithstanding
the foregoing, the location, size and design of said signage shall be subject to
Landlord’s reasonable approval. On or before the Expiration Date (or such date as Landlord
informs Tenant in

 - 57 -

 

writing that Tenant is no longer occupying more rentable square feet in the Project
than any other tenant), Tenant shall remove any such lobby signage at Tenant’s sole cost
and expense and Tenant shall return the lobby area to its original condition.

 - 58 -

 

          IN WITNESS WHEREOF, the parties have executed this Lease, consisting of the foregoing
provisions and Articles, including all exhibits and other attachments referenced therein, as of the
date first above written.

	 	 	 	 	 
	 	 	“LANDLORD”
	 	 	TEACHERS INSURANCE AND ANNUITY
	 	 	ASSOCIATION OF AMERICA, for the benefit of
	 
	 	 	 	 
	 

	 	By:
	 	/s/ David F. Morrison
	 

	 	 	 	 
	 

	 	 	 	David F. Morrison, Associate Director
	 
	 	 	 	 
	 	 	“TENANT”
	 
	 	 	 	 
	 	 	THOMAS WEISEL PARTNERS GROUP, LLC, a
	 	 	Delaware limited liability company
	 
	 	 	 	 
	 

	 	By:
	 	/s/ Shaugn Stanley
	 

	 	 	 	 
	 

	 	 	 	Shaugn Stanley                CFO/Partner
	 

	 	 	 	[Printed Name and Title]

 

FIRST AMENDMENT TO LEASE

          This First Amendment to Lease (“Amendment”) is entered into as of April 20, 2001 by and
between TEACHERS INSURANCE AND ANNUITY ASSOCIATION OF AMERICA, for the benefit of its
Separate Real Estate Account (-Landlord”), and THOMAS WEISEL PARTNERS GROUP, LLC, a Delaware
limited liability company (“Tenant’’), with respect to the following facts and circumstances:

          A. Landlord and Tenant have previously entered into a Standard
Office Lease dated as of June 21, 2000 (the “Lease”) with respect to Suites 200, 300,
400 and 500 (the. “Premises”) of the Project commonly known as 88 Kearny Street,
San Francisco, California.

          B. Landlord and Tenant desire to amend the Lease on the terms and
conditions contained herein.

          NOW, THEREFORE, in consideration of the foregoing, and for other good and valuable
consideration, the receipt and sufficiency of which are hereby acknowledged, Landlord and
Tenant hereby agree as follows:

     1. Definitions. Capitalized terms used and not otherwise defined in this
Amendment shall have the meanings set forth for them in the Lease.

     2. Amendments to Lease, The following amendments to the Lease shall be
effective as of the date of this Amendment:

          2.1 The definition of “Term” as set forth in Article 1(A) of the Lease
shall be amended in its entirety as follows:

“The period of time beginning with the Commencement Date (defined below) and
ending on the Expiration Date (defined below),”

          2.2 The definition of “Commencement Date” as set forth in Article
1(A) of the Lease shall be amended in its entirety as follows:

 

 

          “May 1,2001.”

          2.3 The definition of “Expiration Date” as set forth in Article 1(A) of
the Lease shall be amended in its entirety as follows:

          “April 30, 2012.”

          2.4 Article 1(C) of the Lease is hereby amended in its entirety as follows:

	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	Monthly	 
	 	 	 	 	 	 	 	 	 	 	Basic	 
	 	 	 	 	 	 	 	 	 	 	Rental	 
	 	 	Annual	 	 	Monthly	 	 	per rentable	 
	“Lease Period	 	Basic Rental	 	 	Basic Rental	 	 	square foot	 
	 
	Commencement
Date through
April 30,2006
	 	$	4,046,550.00	 	 	$	337,212.50	 	 	$      6.25/rsf
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	May 1,2006 through
Expiration Date
	 	$	4,316,319.96	 	 	$	359,693.33	 	 	$6.66666/rsf

Notwithstanding the foregoing, provided that Tenant is not then in monetary default beyond
any applicable notice and cure period set forth in the Lease, Monthly Basic Rental for the
Premises shall be abated for the months of January, February and March-2002 (the “Abatement
Months”). Should Landlord deny abatement of Monthly Basic; Rental during any Abatement Month
due to Tenant’s monetary default, Monthly Basic Rental shall be abated for the next fiill
calendar month after Tenant has fully cured all monetary defaults under the Lease, so long as
such abatement is fully applied no later than June 30, 2002. Any abatement of Monthly Basic
Rent not utilized by Tenant in full compliance with this paragraph on or before June 30,
2002, shall be deemed waived by Tenant.”

     3. Delivery and Access. Tenant acknowledges and agrees that Landlord’s
delivery of the Premises to Tenant is subject to the existing occupancy of Charles

- 2 -

 

Schwab & Co., Inc. (“Schwab”). Notwithstanding Schwab’s occupancy of the
Premises, Tenant acknowledges and agrees that Tenant shall accept delivery of the
Premises on the Commencement Date subject to Schwab’s occupancy, and that,
concurrently herewith, Tenant and Schwab shall enter into a sublease agreement to
address Schwab’s continuing occupancy of the Premises. Any such sublease shall be
subject to Landlord’s review and approval.

     4. Miscellaneous. As additional consideration for this Amendment,
Landlord and Tenant hereby certify that:

          4.1 The Lease is in full force and effect.

          4.2 To the best of each party’s knowledge, there are no uncured
defaults on the part of Landlord or Tenant under the Lease.

     5. Commissions. Tenant represents and warrants that it has not had any
dealings with any realtors, brokers or agents in connection with the negotiation of this
Amendment, excepting only Insignia/ESG, Inc. and Montgomery Advisors. Tenant and
Landlord represent and warrant that there are no finder’s fees or brokerage fees arising
out of the transactions contemplated by this Amendment. Each party agrees to pay, and
hold the other harmless from, any cost, expense or liability for any compensation,
commission or charges claimed by any realtors, brokers or agents claiming by, through or
on behalf of it with respect to this Amendment and/or the negotiation hereof.

     6. Miscellaneous. Except as specifically provided herein, the terms and
provisions of the Lease are reaffirmed and continue in fill force and effect. All
references to the term “Lease” contained in the Lease shall mean the Lease, as amended
by this Amendment and any future amendments. This Amendment shall be binding upon the
heirs, administrators, successors and assigns (as the case may be) of the parties
hereto. The laws of the State of California shall govern the interpretation and
enforcement of this Amendment. The headings contained in this Amendment are for
reference purposes only and shall not in any way affect the meaning or interpretation of
this Amendment or any provision hereof. This Amendment may be executed in one or more
counterparts, all of which will be considered one and the same agreement, and each of
which will be deemed an original.

- 3 -

 

          IN WITNESS WHEREOF, Landlord and Tenant have caused this Amendment to be duly
executed as of the date first above written.

	 	 	 	 	 	 	 
	“Tenant”

	 	 	 	 	 	“Landlord”
	 
	 	 	 	 	 	 
	THOMAS WEISEL PARTNERS	 	 	 	TEACHERS INSURANCE AND
	GROUP, LLC,	 	 	 	ANNUITY ASSOCIATION OF
	a Delaware limited liability company	 	 	 	AMERICA, for the benefit of its
	 

	 	 	 	 	 	Separate Real Estate Account
	 
	 	 	 	 	 	 
	By:

	 	/s/ Shaugn Stanley
	 	By:
	 	/s/ David F. Morrison
	 	 	 	 	 	 	 
	 

	 	Shaugn Stanley CFO/Partner
	 	 	 	David F. Morrison,
	 

	 	[Printed Name and Title]
	 	 	 	Director

- 4 -

 

SECOND AMENDMENT TO LEASE

     THIS SECOND AMENDMENT TO LEASE (“Amendment”), dated as of the 8th day of October, 2003, is
made by and between THOMAS WEISEL PARTNERS GROUP LLC, a Delaware limited liability company
(“Tenant”), and TEACHERS INSURANCE AND ANNUITY ASSOCIATION OF AMERICA, for the benefit of its
Separate Real Estate Account (“Landlord”).

RECITALS

          A. Tenant and Landlord are parties to that certain Standard Office Lease dated June 21, 2000,
amended by that certain First Amendment to Lease dated April 20, 2001 by and between Landlord and
Tenant (as amended, the “Lease”) with respect to Suites 200, 300,400 and 500 of the Project
commonly known as 88 Kearny Street, San Francisco, California (the “Project”).

          B. Tenant has notified Landlord that Tenant’s financial position has made it difficult for
Tenant to continue to pay rent as it accrues under the Lease.

          C. Tenant has requested that Landlord forbear from collecting a portion of the rent accruing
under the Lease until the Forbearance Outside Date (defined below) or until the occurrence of a
Termination Event (defined below). Landlord is willing to accede to such request on the terms and
conditions hereinafter set forth.

          D. Capitalized terms used and not otherwise defined in this Amendment shall have the
meanings set forth for them in the Lease.

          NOW, THEREFORE, in consideration of the Premises and the mutual covenants herein contained and
intending to be legally bound, the parties hereto (“Parties”) hereby agree as follows:

     1. Amendments to Lease. The following amendments to the Lease shall be
effective as of the Forbearance Effective Date (defined below):

          1.1 Article 1 (F) of the Lease is hereby deleted in its entirety and the following is
substituted in its place:

          “Security Deposit: $1,964,266.90 (the ‘Original Amount’), subject to adjustment, pursuant to
Article 4. below.”

          1.2 Article 4 of the Lease is hereby deleted in its entirety and the following is
substituted in its place:

ARTICLE 4

SECURITY DEPOSIT AND LETTER OF CREDIT

          (a) Tenant has deposited with Landlord the sum set forth in Article 1(F) of the Basic
Lease Provisions in the form of the Letter of Credit (defined below) as security for the full and
faithful performance of every provision of this Lease to be performed by Tenant (the ‘Security
Deposit’). If Tenant breaches any provision of this Lease, including but not limited to the payment

 

 

of rent or upon the occurrence of an Event of Default, Landlord may use all or any part of
this Security Deposit for the payment of any rent or any other sums in default, or to compensate
Landlord for any other loss or damage which Landlord may suffer by reason of Tenant’s default. If
any portion of the Security Deposit is so used or applied, Tenant shall, within five (5) days after
written demand therefor, deposit cash with Landlord in an amount sufficient to restore the Security
Deposit to the amount set forth in Article 1 (F). Tenant agrees that Landlord shall not be required
to keep the Security Deposit in trust, segregate it or keep it separate from Landlord’s general
funds, but Landlord may commingle the Security Deposit with its general funds and Tenant shall not
be entitled to interest on such deposit. At the expiration of the Term, and provided there exists
no default by Tenant hereunder, the Security Deposit or any balance thereof shall be returned to
Tenant (or, at Landlord’s option, to Tenant’s assignee), provided that subsequent to the expiration
of this Lease, Landlord may retain from said Security Deposit (i) an amount reasonably estimated by
Landlord to cover potential Direct Cost reconciliation payments due with respect to the calendar
year in which this Lease terminates or expires (such amount so retained shall not, in any event,
exceed ten percent (10%) of estimated Direct Cost payments due from Tenant for such calendar year
through the date of expiration or earlier termination of this Lease and any amounts so retained and
not applied to such reconciliation shall be returned to Tenant within thirty (30) days after
Landlord’s delivery of the Statement for such calendar year), (ii) any and all amounts reasonably
estimated by Landlord to cover the anticipated costs to be incurred by Landlord to remove any
signage provided to Tenant under this Lease and to repair any damage caused by such removal (in
which case any excess amount so retained by Landlord shall be returned to Tenant within thirty (30)
days after such removal and repair), and (iii) any and all amounts permitted by law or this Article
4. Tenant hereby waives any and all provisions of law, now or hereafter in effect in the State in
which the Project is located or any local government authority or agency or any political
subdivision thereof, that limit the types of defaults for which a landlord may claim sums from a
Security Deposit, it being agreed that Landlord, in addition, may claim those sums specified in
this Article 4 above and/or those sums reasonably necessary to compensate Landlord for any other
loss or damage, foreseeable or unforeseeable, caused by the acts or omissions of Tenant or any
officer, employee, agent, contractor or invitee of Tenant

          (b) Tenant shall provide the Security Deposit in the form of an irrevocable standby
letter of credit (‘Letter of Credit’) delivered to Landlord, in the face amount of $1,964,266.90,
with an expiration date no earlier than the date which is three hundred sixty-five (365) days after
the date of issuance, issued by JP Morgan Chase in form, content and conforming in all material
respects with the form attached hereto as Exhibit ‘E.’ Tenant shall have the right to
substitute a new letter of credit issuer from time to time provided such issuer is a money-center
bank (a bank which accepts deposits, maintains accounts and whose deposits are insured by the FDIC)
located in New York, New York and acceptable to Landlord in Landlord’s reasonable discretion, in
form and content conforming in all material respects with the form attached hereto as Exhibit
‘E’. The final Letter of Credit required under this Article 4 shall have an expiration date no
earlier than the date which is thirty (30) days after the Expiration Date of the Lease, provided
such Letter of Credit may provide that it may be terminated annually on not less than sixty (60)
days prior written notice to Landlord (a so-called ‘evergreen provision’). Tenant shall pay all
expenses, points and/or fees incurred by Tenant in obtaining or renewing the Letter of Credit. The
Letter of Credit shall be held by Landlord as security for the full and faithful performance by
Tenant of all terms, covenants and conditions of this Lease to be kept and performed by Tenant
during the Term of the Lease as such Term may be extended in accordance with the terms hereof,
including, without limitation, any obligation to repay the Forbearance Amount. If an Event of
Default has occurred, or if at any time during the Term (or any extension thereof) Tenant fails to
renew the Letter of Credit at least sixty

- 2 -

 

(60) days before its expiration, Landlord may, but shall not be required to, make a full or
partial drawing upon the Letter of Credit for payment of any and all amounts to which Landlord is
entitled under the terms of this Lease (or Landlord may draw on the entire Letter of Credit if
Tenant fails to timely renew the same). Landlord may make multiple drawings under the Letter of
Credit if, and to the extent that, additional payments of Basic Rental or Additional Rent become
past due. Tenant shall, within five (5) days after written demand therefor, replenish the Letter of
Credit up to the original face amount of $1,964,266.90, or such reduced amount required under
Article 4(c), below. The use, application or retention of the Letter of Credit, or any portion
thereof, by Landlord shall not prevent Landlord from exercising any other right or remedy provided
by this Lease or by law, it being intended that Landlord shall not first be required to proceed
against {he Letter of Credit, and shall not operate as a limitation on any recovery to which
Landlord may otherwise be entitled. Tenant acknowledges that Landlord has the right to transfer or
mortgage its interest in the Project and in this Lease and Tenant agrees that in the event of any
such transfer or mortgage, Landlord shall have the right to transfer or assign the Letter of Credit
to the transferee or mortgagee, and in the event of such transfer, and provided such transferee or
mortgagee agrees in writing to recognize the Letter of Credit, Tenant shall look solely to such
transferee or mortgagee for the return of the Letter of Credit. The Letter of Credit, or any
balance thereof, shall be returned to Tenant within sixty (60) days following the Expiration Date
of the Term, or such later date of expiration of this Lease Term in the event extended in
accordance with the terms hereof.

          (c) Upon the first anniversary following the Final Payment Date (the ‘First Anniversary’),
provided (i) no Event of Default has occurred beyond any applicable notice and cure period and no
events or conditions exist which, with the passage of time or giving of notice or both, would
constitute an Event of Default under this Lease, and (ii) Tenant has demonstrated to Landlord, in
Landlord’s reasonable discretion, that Tenant has maintained an aggregate positive pre-tax net
income of at least $10,000,000.00 for at least one (1) year, the Original Amount of the Letter of
Credit required hereunder shall be reduced annually on a straight-line basis by an amount equal
to a fraction whose numerator is one (1) and whose denominator is the number of full calendar
years from the First Anniversary through the Expiration Date (the ‘Reduction Amount’). Upon each
anniversary of the First Anniversary, unless Landlord has notified Tenant on or before the date
which is ten (10) days prior to the end of said anniversary that an Event of Default exists or that
an event or condition exists which with the passage of time or giving of notice or both would
constitute an Event of Default under this Lease, Tenant shall be permitted to replace the Letter of
Credit then held by Landlord with a Letter of Credit reduced by the Reduction Amount in accordance
with the foregoing sentence. Notwithstanding anything to the contrary contained herein, if at any
point from and after the First Anniversary, Landlord determines that Tenant has failed to maintain
an aggregate positive pre-tax income of at least $10,000,000.00 at any time, Tenant shall no longer
be entitled to reduce the Letter of Credit in accordance with this Article 4(c), and Tenant shall
maintain the Letter of Credit in the face amount then required hereunder through the date which is
thirty (30) days after the Expiration Date.

          (d) On December 31, 2005 and again on December 31, 2006, Tenant shall be required to deliver
to Landlord an additional letter of credit or amendment to the existing Letter of Credit, each in
the face amount of $250,000.00 (each, an ‘Additional Letter of Credit’ and collectively, the
‘Additional Letters of Credit’). The Additional Letters of Credit shall comply in all respects with
the terms and conditions set forth for the Letter of Credit in this Article 4, including without
limitation, the obligation to annually renew the Additional Letters of Credit and Landlord’s
ability to draw on the Additional Letters of Credit for any reason permitted under this Lease, as

- 3 -

 

amended from time to time; provided, however that the Additional Letters of Credit shall not
be subject to reduction under Article 4(c).”

          1.3 The following new Articles 19(h), 19(i) and 19(j) are hereby added to the Lease after
Article 19(g) thereof:

          "(h) Tenant’s failure to post a substitute letter of credit meeting the requirements of
Article 4 hereof within fifteen (15) days after the letter of credit issuer notifies Landlord that
it will not renew the Letter of Credit.

          (i) The occurrence of any ‘Event of Default’ under that certain Standard Office Lease by and
between Landlord and Tenant with respect to Suites 1310 and 2100 of the Project dated January 10,
2000, as amended.

          (j) Tenant’s failure to pay any Forbearance Amount as and when due and payable.”

          2. Forbearance. Subject to the conditions set forth in Section 2.1 below and
the termination provisions of Section 2.2 below, Landlord shall forbear from requiring Tenant to
pay a portion of the Monthly Basic Rental in a monthly amount equal to $112,404.16 (each, a
“Monthly Forbearance Amount” and collectively, the “Forbearance Amounts”) during the period from
the Forbearance Effective Date through and including the date which is twenty-four (24) months
after the Forbearance Effective Date (the “Forbearance Outside Date”), prorated for any partial
months, without in any way prejudicing Landlord’s right to collect accrued rent in accordance with
this Amendment and the Lease.

          2.1 Conditions. Landlord’s agreement to forbear shall not be effective until the date
(the “Forbearance Effective Date”) on which the last of the following conditions is satisfied:

               2.1.1 All representations and warranties set forth in this Amendment shall be true and
correct;

               2.1.2 Concurrently with the execution of this Amendment, Tenant shall have paid to Landlord
the amount of $25,000.00 to reimburse a portion of Landlord’s costs and expenses in connection with
the preparation, negotiation, and execution and delivery of this Amendment; and

               2.1.3 Tenant shall have delivered to Landlord a Letter of Credit conforming in all
respects with Article 4 of the Lease, as herein amended.

          2.2 Termination. Landlord’s agreement to forbear shall automatically terminate and all
then-accrued Forbearance Amounts shall be immediately due and payable to Landlord, without further
act or instrument, upon the occurrence of any of the following events (a “Termination Event”):

               2.2.1 Tenant repudiates, or asserts a defense to, any obligation or liability under the Lease
or this Amendment or makes or pursues a claim against Landlord which has previously been released
pursuant to Section 5 of this Amendment; or

               2.2.2 A petition for relief under any federal or state bankruptcy,

- 4 -

 

reorganization or insolvency statute or law is filed by or against Tenant or any member of
Tenant; or

               2.2.3 Tenant fails to timely perform and observe any of the covenants, agreements and
obligations contained in the Lease or this Amendment that constitutes an Event of Default under the
Lease which would permit Landlord to exercise its right to terminate the Lease and seek to recover
possession of the Premises; or

               2.2.4 Tenant has met its Financial Threshold. For the purposes of this Amendment,
Tenant shall be deemed to have met its “Financial Threshold” upon the occurrence of any of
the following:

                    (a) Audited financial statements demonstrate that Tenant’s positive pre-tax net income in any
calendar year after 2002 is equal to or in excess of thirty-five percent (35%) of the positive
pre-tax net income of Tenant for calendar year 2000; or

                    (b) Tenant merges into or with another entity or Tenant is acquired by another entity, whether
or not deemed a Transfer under the Lease; or

                    (c) Tenant is required to begin accruing its obligation to repay the Forbearance Amounts in
its financial statements in accordance with generally accepted accounting principles, consistently
applied; or

                    (d) Tenant has achieved total annual revenue in any calendar year after 2002 of at least
sixty-five percent (65%) of Tenant’s total annual revenue for calendar year 2000.

          2.3 Covenants. Tenant shall keep true and correct financial books and records,
using generally accepted accounting principles. Tenant shall provide to Landlord the following:

               2.3.1 Within one hundred twenty (120) days after Tenant’s fiscal year end, Tenant’s annual
financial statements. These financial statements shall be audited by a certified public accountant
acceptable to Landlord;

               2.3.2 Within five (5) months after Tenant’s fiscal year end, signed copies of Tenant’s federal
tax return and all supporting schedules (excluding schedules listing individual partner
distributions);

               2.3.3 Within forty-five (45) days of the end of each quarter of Tenant’s fiscal year,
quarterly balance sheets and income statements for Tenant; and

               2.3.4 Promptly upon the request of Landlord, such other

information as Landlord may reasonably request concerning the affairs and properties of Tenant
relating to the Financial Thresholds of Tenant.

- 5 -

 

          2.4 Repayment of Forbearance Amounts.

               2.4.1 Termination Event. Within five (5) business days after receipt of written notice
from Landlord that any Termination Event set forth in Sections 2.2.1 through 2.2.4 of this
Amendment has occurred, Tenant shall remit all accrued Forbearance Amounts to Landlord.

               2.4.2 Financial Threshold. Within five (5) business days after receipt of written
notice from Landlord that Tenant’s Financial Threshold has been met (a “Payment Event”), fifty
percent (50%) of all accrued Forbearance Amounts shall be remitted to Landlord by Tenant. The
remaining fifty percent (50%) of any accrued Forbearance Amounts shall be payable to Landlord
within five (5) business days after receipt of written notice from Landlord that Tenant’s Financial
Threshold has again been met at any time during the Lease Term and which is at least nine (9)
months after the occurrence of the first Payment Event (the “Final Payment Date”), whether or not
the Final Payment Date occurs before or after the Expiration Date. Tenant’s failure to timely remit
any Forbearance Amounts to Landlord when due shall be deemed an Event of Default under the Lease.

          2.5 Payments. All payments to be made by Tenant pursuant to this Amendment shall be
made by wire transfer, cashier’s check or other immediately available funds.

     3. No Waiver of Rights Under Lease. Neither the failure nor delay by Landlord to
exercise its rights or remedies nor the acceptance of any partial payments or any other partial
performance (whether any of the foregoing is before or after die date of this Amendment) nor any
provision of this Amendment shall amend, modify, supplement, extend, delay, renew, terminate,
waive, release or otherwise limit or prejudice Landlord’s rights and remedies or Tenant’s
obligations under the Lease (including, but not limited to, Landlord’s right to receive full
payment of rent as well as all payments set forth in this Amendment) except as specifically
provided in a written agreement between the Parties that is fully executed and delivered (and
except that, without modifying or amending the Lease, Landlord agrees to forbear to the extent
specifically provided in Section 2 hereof). In particular, Tenant understands that nothing referred
to above, including, without limitation, the acceptance by Landlord of any partial payments, shall
operate to prohibit, restrict or otherwise inhibit Landlord from exercising any right or remedy it
may have under the Lease (except that Landlord agrees to forbear to the extent specifically
provided in Section 2 hereof) or constitute a cure of any existing default, and, without
limitation, shall not extend any applicable forbearance or redemption period.

     4. Confirmation. Tenant will not seek or obtain any injunction or other contest
or hindrance of any remedies by Landlord, whether in state court, bankruptcy court or
otherwise, either before or after the Forbearance Outside Date.

     5. Release. Tenant hereby discharges and forever releases Landlord, its partners,
agents, employees, subcontractors and assigns from all obligations under the Lease arising prior to
the Forbearance Effective Date whether currently known or unknown, including all actions, claims or
demands that now exist or may hereafter accrue or be alleged against Landlord in any way relating
to the Lease and Tenant’s occupancy of the Premises, and Landlord shall not have any further
liability to Tenant except for any obligations arising after the date of this Amendment with
respect to the Lease. Tenant acknowledges that effective upon the date of this Amendment it has
waived the provisions of Section 1542 of the Civil Code of the State of California, which provides
as follows:

- 6 -

 

“A GENERAL RELEASE DOES NOT EXTEND TO CLAIMS WHICH THE CREDITOR DOES NOT
KNOW OR SUSPECT TO EXIST IN HIS FAVOR AT THE TIME OF EXECUTING THE RELEASE,
WHICH, IF KNOWN BY HIM, MUST HAVE MATERIALLY AFFECTED HIS SETTLEMENT WITH
THE DEBTOR.”

Tenant’s Initials: /s/ SS

     6. Intentionally Omitted.

     7. Voluntary Amendment. Each Party represents and warrants to each other Party that it
is represented by legal counsel of its choice, that it has consulted with counsel regarding this
Amendment, that it is fully aware of the terms contained herein and that it has voluntarily and
without coercion or duress of any kind entered into this Amendment.

     8. Tenant Representations and Warranties. As additional consideration for this
Amendment, Tenant hereby represents and warrants to Landlord that:

          8.1 The Lease is in full force and effect.

          8.2 Tenant is in possession of the Premises.

          8.3 Monthly Basic Rent has been paid through October 31, 2003.

          8.4 Tenant’s financial statements and supporting documentation delivered to Landlord as
evidence of Tenant’s need for the forbearance contemplated herein are true and correct in all
material respects.

          8.5 To the best of Tenant’s knowledge, there are no uncured defaults on the part of Landlord
or Tenant under the Lease.

     9. Brokers. Landlord and Tenant represent and warrant to one another that it
has not had any dealings with any realtors, brokers or agents in connection with the negotiation of
this Amendment, other than Insignia/ESG, Inc. (now CB Richard Ellis, Inc.), JRT Realty Group and
Montgomery Advisors. Landlord and Tenant shall hold one another harmless from and against any and
all liability, loss, damage, expense, claim, action, demand, suit or obligation arising out of or
relating to a breach by the indemnifying party of such representation or for any compensation,
commission or charges claimed by any realtors, brokers or agents claiming by, through or on behalf
of it with respect to this Amendment.

     10. Exhibits. Exhibit “E” as attached hereto is hereby incorporated into and made part
of the Lease and this Amendment.

     11. Miscellaneous. The laws of the State of California shall govern the interpretation
and enforcement of this Amendment. The headings contained in this Amendment are for reference
purposes only and shall not in any way affect the meaning or interpretation of this Amendment or
any provision hereof. Except as modified herein, all other terms and conditions of the Lease shall
remain unmodified and in full force and effect. Any conflict of terms and conditions between this

- 7 -

 

Amendment, the Lease or previous amendments, the provisions of this Amendment shall prevail.
This Amendment may not be altered except by an agreement in writing signed by Landlord and Tenant.
This Amendment may be executed in one or more counterparts, all of which will be considered one and
the same agreement, and each of which will be deemed an original. Except as specifically provided
herein, the terms and provisions of the Lease are reaffirmed and continue in full force and effect.
This Amendment shall be binding upon the heirs, administrators, successors and assigns (as the case
may be) of the parties hereto.

- 8 -

 

     IN WITNESS WHEREOF, Landlord and Tenant have caused this Amendment to be duly executed as of
the date first above written.

	 	 	 
	“Tenant”

	 	“Landlord”
	 
	 	 
	THOMAS WEISEL PARTNERS GROUP

	 	TEACHERS INSURANCE AND
	LLC, a Delaware limited liability company

	 	ANNUITY ASSOCIATION OF
	 

	 	AMERICA, for the benefit of its
	 

	 	Separate Real Estate Account
	 
	 	 
	/s/ Shaugn Stanley

	 	/s/ Denise Maxwell
	 	 	 
	Shaugn Stanley – CFO/Partner

	 	Associate Director
	[Printed Name and Title]

	 	[Printed Name and Title]

- 9 -exv10w10

 

EXHIBIT 10.10

EXECUTION COPY

390 PARK AVENUE ASSOCIATES, LLC

                                                    Landlord

TO

THOMAS WEISEL PARTNERS GROUP LLC

                                                   Tenant

 

Lease

 

Dated as of May 5, 1999

 

 

TABLE OF CONTENTS

	 	 	 	 	 	 	 
	ARTICLE 1.
	 	PREMISES; TERM; USE	 	 	1	 
	 
	 	 	 	 	 	 
	1.01.
	 	Demise	 	 	1	 
	1.02.
	 	Term	 	 	1	 
	1.03.
	 	Inability to Deliver	 	 	1	 
	1.04.
	 	Use	 	 	2	 
	1.05.
	 	Expansion Space	 	 	3	 
	1.06.
	 	Refusal Space Option	 	 	6	 
	1.07.
	 	Right of First Offer	 	 	10	 
	1.08.
	 	Swing Space	 	 	14	 
	 
	 	 	 	 	 	 
	ARTICLE 2.
	 	RENT	 	 	16	 
	 
	 	 	 	 	 	 
	2.01.
	 	Rent	 	 	16	 
	2.02.
	 	Fixed Rent	 	 	16	 
	2.03.
	 	Additional Charges	 	 	17	 
	2.04.
	 	Tax Payments	 	 	17	 
	2.05.
	 	Operating Payments	 	 	20	 
	2.06.
	 	Tax and Operating Provisions	 	 	25	 
	2.07.
	 	Electric Charges	 	 	26	 
	2.08.
	 	Manner of Payment	 	 	30	 
	2.09.
	 	Security	 	 	31	 
	 
	 	 	 	 	 	 
	ARTICLE 3.
	 	LANDLORD COVENANTS	 	 	33	 
	 
	 	 	 	 	 	 
	3.01.
	 	Landlord Services	 	 	33	 
	3.02.
	 	Additional Electrical Power and Equipment	 	 	37	 
	 
	 	 	 	 	 	 
	ARTICLE 4.
	 	ALTERATIONS; TENANT COVENANTS	 	 	38	 
	 
	 	 	 	 	 	 
	4.01.
	 	Alterations	 	 	38	 
	4.02.
	 	Landlord’s and Tenant’s Property	 	 	41	 
	4.03.
	 	Access and Changes to Building	 	 	43	 
	4.04.
	 	Repairs	 	 	44	 
	4.05.
	 	Compliance with Laws	 	 	45	 
	4.06.
	 	Tenant Advertising	 	 	46	 
	4.07.
	 	Right to Perform Tenant Covenants	 	 	46	 
	 
	 	 	 	 	 	 
	ARTICLE 5.
	 	ASSIGNMENT AND SUBLETTING	 	 	47	 
	 
	 	 	 	 	 	 
	5.01.
	 	Assignment; Etc.	 	 	47	 
	5.02.
	 	Landlord’s Right of First Offer	 	 	49	 
	5.03.
	 	Assignment and Subletting Procedures	 	 	53	 
	5.04.
	 	General Provisions	 	 	55	 

-i-

 

	 	 	 	 	 	 	 
	5.05.
	 	Assignment and Sublease Profits	 	 	56	 
	 
	 	 	 	 	 	 
	ARTICLE 6.
	 	SUBORDINATION; DEFAULT; INDEMN1TY	 	 	58	 
	 
	 	 	 	 	 	 
	6.01.
	 	Subordination	 	 	58	 
	6.02.
	 	Estoppel Certificate	 	 	60	 
	6.03.
	 	Default	 	 	60	 
	6.04.
	 	Re-entry by Landlord	 	 	62	 
	6.05.
	 	Damages	 	 	62	 
	6.06.
	 	Other Remedies	 	 	63	 
	6.07.
	 	Right to Injunction	 	 	63	 
	6.08.
	 	Certain Waivers	 	 	63	 
	6.09.
	 	No Waiver	 	 	64	 
	6.10.
	 	Holding Over	 	 	64	 
	6.11.
	 	Attorneys’ Fees	 	 	64	 
	6.12.
	 	Nonliability and Indemnification	 	 	65	 
	 
	 	 	 	 	 	 
	ARTICLE 7.
	 	INSURANCE; CASUALTY; CONDEMNATION	 	 	66	 
	 
	 	 	 	 	 	 
	7.01.
	 	Compliance with Insurance Standards	 	 	66	 
	7.02.
	 	Tenant’s and Landlord’s Insurance	 	 	66	 
	7.03.
	 	Subrogation Waiver	 	 	67	 
	7.04.
	 	Condemnation	 	 	68	 
	7.05.
	 	Casualty	 	 	69	 
	 
	 	 	 	 	 	 
	ARTICLE 8.
	 	INITIAL IMPROVEMENTS; RENOVATIONS	 	 	73	 
	 
	 	 	 	 	 	 
	8.01.
	 	Landlord’s Work	 	 	73	 
	8.02.
	 	Tenant Delay	 	 	74	 
	8.03.
	 	Landlord’s Contribution	 	 	74	 
	8.04.
	 	Landlord Performance of Initial Tenant Work	 	 	75	 
	8.05.
	 	Landlord’s Base Building Work	 	 	76	 
	 
	 	 	 	 	 	 
	ARTICLE 9.
	 	MISCELLANEOUS PROVISIONS	 	 	76	 
	 
	 	 	 	 	 	 
	9.01.
	 	Notice	 	 	76	 
	9.02.
	 	Building Rules	 	 	77	 
	9.03.
	 	Severability	 	 	77	 
	9.04.
	 	Certain Definitions	 	 	77	 
	9.05.
	 	Quiet Enjoyment	 	 	78	 
	9.06.
	 	Limitation of Landlord's Personal Liability	 	 	78	 
	9.07.
	 	Counterclaims	 	 	78	 
	9.08.
	 	Survival	 	 	78	 
	9.09.
	 	Certain Remedies	 	 	78	 
	9.10.
	 	No Offer	 	 	78	 
	9.11.
	 	Captions; Construction	 	 	79	 
	9.12.
	 	Amendments	 	 	79	 

-ii-

 

	 	 	 	 	 	 	 
	9.13.
	 	Broker	 	 	79	 
	9.14.
	 	Merger	 	 	79	 
	9.15.
	 	Successors	 	 	79	 
	9.16.
	 	Applicable Law	 	 	80	 
	9.17.
	 	No Development Rights	 	 	80	 
	9.18.
	 	Landmark Notification	 	 	80	 
	9.19.
	 	Roof Equipment	 	 	80	 
	9.20.
	 	Signage	 	 	82	 
	9.21.
	 	Emergency Generator	 	 	83	 
	9.22.
	 	Arbitration	 	 	85	 
	9.23.
	 	Affirmative Waivers	 	 	86	 
	9.24.
	 	Conditional Abatement	 	 	86	 
	 
	 	 	 	 	 	 
	ARTICLE 10.
	 	RENEWAL RIGHT	 	 	86	 
	 
	 	 	 	 	 	 
	10.01.
	 	Renewal Right	 	 	86	 
	10.02.
	 	Renewal Rent and Other Terms	 	 	90	 

EXHIBITS

	 	 	 
	A

	 	Description of Land
	B

	 	Initial Premises Floor Plan
	B-1

	 	Expansion Space Floor Plan
	B-2

	 	Refusal Space Floor Plan
	C

	 	Tenant Manual
	D

	 	HVAC Specifications
	E

	 	Standard Cleaning Specifications
	F-1

	 	Form of Subordination,
Non-Disturbance and Attornment Agreement – Superior
	F-2

	 	Mortgage Form of Subordination, Non-Disturbance and Attornment Agreement -Superior Lease
	G

	 	Landlord’s Work
	H

	 	Roof Space Plan
	I

	 	Plaza Space Plan
	J

	 	Landlord’s Base Building Work

-iii-

 

INDEX OF DEFINED TERMS

	 	 	 
	Definition	 	Where Defined
	 
	AAA

	 	Section 2.05
	Acceptance Notice

	 	Section 1.06
	Actual Charge

	 	Section 2.07
	Additional Charges

	 	Section 2.03
	Additional Electricity Equipment

	 	Section 3.02
	Affiliate

	 	Section 5.01
	Alterations

	 	Section 4.01
	Arbiter

	 	Section 2.05
	Assignment Consideration

	 	Section 5.05
	Available

	 	Section 1.07
	Base Block

	 	Section 10.01
	Base Operating Amount

	 	Section 2.05
	Base Operating Year

	 	Section 2.05
	Base Space

	 	Section 1.01
	Base Space Rent Commencement Date

	 	Section 2.02
	Base Tax Amount

	 	Section 2.04
	Basic Tenant Requirements

	 	Section 3.02
	Broker

	 	Section 9.13
	Building

	 	Recitals
	Business Days

	 	Section 3.01
	Business Hours

	 	Section 3.01
	Casualty

	 	Section 7.05
	Commencement Date

	 	Section 1.02
	Control

	 	Section 5.01
	Curing Party

	 	Section 4.07
	Damage Termination Date

	 	Section 7.05
	Damage Termination Notice

	 	Section 7.05
	Delivery Date

	 	Section 1.08
	Desk Space User

	 	Section 5.01
	Determination Date

	 	Section 5.02
	Dispute Period

	 	Section 10.02
	Documentation

	 	Section 8.03
	Effective Date

	 	Section 5.02
	Electric Rate

	 	Section 2.07
	Eligibility Period

	 	Section 9.24
	Eligible Offer Space

	 	Section 1.07
	Eligible Refusal Space

	 	Section 1.06
	Estimated Date

	 	Section 7.05
	Event of Default

	 	Section 6.03
	Expansion Notice

	 	Section 1.05
	Expansion Option

	 	Section 1.05

-iv-

 

	 	 	 
	Definition	 	Where Defined
	 
	Expansion Space

	 	Section 1.05
	Expansion Space Rent Commencement Date

	 	Section 1.05
	ES Inclusion Date

	 	Section 1.05
	ES Inclusion Outside Date

	 	Section 1.05
	Existing HVAC Equipment

	 	Section 3.01
	Expansion Termination Notice

	 	Section 1.05
	Expiration Date

	 	Section 1.02
	Fair Market Determinations

	 	Section 10.02
	Fair Market Rent

	 	Section 10.02
	First Renewal Expiration Date

	 	Section 10.01
	First Renewal Notice

	 	Section 10.01
	First Renewal Option

	 	Section 10.01
	First Renewal Premises

	 	Section 10.01
	First Renewal Term

	 	Section 10.01
	Fixed Rent

	 	Section 2.02
	Fixtures

	 	Section 4.02
	Force Majeure

	 	Section 1.03
	Full Premises Floor

	 	Section 10.01
	GAAP

	 	Section 2.05
	Improvements and Betterments

	 	Section 4.02
	Inclusion Date

	 	Section 2.07
	Indemnified Party

	 	Section 6.12
	Initial Appraiser Meeting

	 	Section 10.02
	Initial Appraisers

	 	Section 10.02
	Initial Charge

	 	Section 2.07
	Initial Tenant Work

	 	Section 8.03
	Interest Rate

	 	Section 4.07
	Land

	 	Recitals
	Landlord

	 	Introduction; and Section 9.04
	Landlord’s Base Building Work

	 	Section 8.05
	Landlord’s Contribution

	 	Section 8.03
	Landlord’s Determination

	 	Section 10.02
	Landlord’s Fair Market Determination

	 	Section 10.02
	Landlord’s Initial Work

	 	Section 8.01; and Exhibit G
	Landlord’s Repair Notice

	 	Section 7.05
	Landlord Services

	 	Section 3.01
	Landlord’s Statement

	 	Section 2.05
	Laws

	 	Section 4.05
	LC Date

	 	Section 2.09
	Letter of Credit

	 	Section 2.09
	Maximum Tonnage

	 	Section 3.01
	Named Tenant

	 	Section 1.05
	Named Tenant Permitted Assignee

	 	Section 1.05
	New Tenant

	 	Section 6.10
	Offer

	 	Section 1.06
	Offer Acceptance Notice

	 	Section 1.07

-v-

 

	 	 	 
	Definition	 	Where Defined
	 
	Offer Notice

	 	Section 1.07
	Offer Period

	 	Section 1.07
	Offer Rental

	 	Section 1.07
	Offer Space

	 	Section 1.07
	Offer Space Inclusion Date

	 	Section 1.07
	Offer Space Option

	 	Section 1.07
	Offeror

	 	Section 1.06
	Operating Expenses

	 	Section 2.05
	Operating Payment

	 	Section 2.05
	Operating Year

	 	Section 2.05
	Other Sublease Consideration

	 	Section 5.05
	Outside Date

	 	Section 1.03
	Outside Repair Date

	 	Section 7.05
	Partial Renewal Notice

	 	Section 10.01
	Possession Date

	 	Section 8.01
	Premises

	 	Section 1.01
	Premises Floor

	 	Section 10.01
	Project

	 	Recitals
	Records

	 	Section 2.05
	Reduction Date

	 	Section 2.09
	Refusal Period

	 	Section 1.06
	Refusal Space

	 	Section 1.06
	Refusal Space Inclusion Date

	 	Section 1.06
	Refusal Space Notice

	 	Section 1.06
	Refusal Space Option

	 	Section 1.06
	Renewable Portion

	 	Section 10.01
	Rent

	 	Section 2.01
	Rent Notice

	 	Section 10.02
	Rent Period

	 	Section 2.09
	Renewable Portion

	 	Section 10.01
	Renewal Notice

	 	Section 10.01
	Renewal Option

	 	Section 10.01
	Renewal Premises

	 	Section 10.01
	Renewal Term

	 	Section 10.01
	Roof Equipment

	 	Section 9.19
	Second Renewal Expiration Date

	 	Section 10.01
	Second Renewal Notice

	 	Section 10.01
	Second Renewal Option

	 	Section 10.01
	Second Renewal Premises

	 	Section 10.01
	Second Renewal Term

	 	Section 10.01
	Security Deposit

	 	Section 2.09
	Security Reduction Notice

	 	Section 2.09
	Substantial Casualty

	 	Section 7.05
	Successor Landlord

	 	Section 6.01
	Superior Lease

	 	Section 6.01
	Superior Lessor

	 	Section 6.01

-vi-

 

	 	 	 
	Definition	 	Where Defined
	 
	Superior Mortgage

	 	Section 6.01
	Superior Mortgagee

	 	Section 6.01
	Supplemental Condenser Water

	 	Section 3.01
	Swing Space

	 	Section 1.01
	Swing Space Possession Date

	 	Section 1.08
	Swing Space Rent Commencement Date

	 	Section 2.02
	Tax Payment

	 	Section 2.04
	Tax Year

	 	Section 2.04
	Taxable Status Date

	 	Section 2.04
	Taxes

	 	Section 2.04
	Tenant

	 	Introduction
	Tenant Delay

	 	Section 8.02
	Tenant Manual

	 	Section 3.01
	Tenant’s Basic Cost

	 	Section 5.05
	Tenant’s Fair Market Determination

	 	Section 10.02
	Tenant’s Notice

	 	Section 10.02
	Tenant’s Offer Notice

	 	Section 5.02
	Tenant’s Operating Share

	 	Section 2.05
	Tenant’s Property

	 	Section 4.02
	Tenant’s Statement

	 	Section 2.05
	Tenant’s Supplemental HVAC Equipment

	 	Section 3.01
	Tenant’s Tax Share

	 	Section 2.04
	Term

	 	Section 1.02
	Termination Date

	 	Section 1.03
	Termination Notice

	 	Section 1.03
	Third Appraiser

	 	Section 10.02
	Transfer Notice

	 	Section 5.03
	Unamortized Initial Alteration Costs

	 	Section 5.02
	Unamortized Subsequent Alteration Costs

	 	Section 5.02
	Unilever

	 	Section 1.07
	Unilever Lease

	 	Section 1.07
	4 Month Date

	 	Section 1.08

-vii-

 

     LEASE, dated as of May 5, 1999, between 390 PARK AVENUE ASSOCIATES, LLC, (“Landlord”),
a Delaware limited liability company whose address is c/o RFR Holding LLC, 400 Park Avenue, New
York, New York 10022 and THOMAS WEISEL PARTNERS GROUP LLC (“Tenant”), a Delaware limited liability
company whose address is One Montgomery Street, Suite 3700, San Francisco, California 94104 prior
to the commencement of the Term, and thereafter Tenant’s address shall be that of the Building.

WITNESSETH

     WHEREAS, Landlord is willing to lease to Tenant and Tenant is willing to hire from Landlord,
on the terms hereinafter set forth, certain space in the office building located at 390 Park
Avenue, New York, New York (the “Building”) on the land more particularly described in
Exhibit A (the “Land”; the Land and the Building and all plazas, sidewalks and
curbs adjacent thereto are collectively called the “Project”).

     NOW, THEREFORE, Landlord and Tenant agree as follows:

ARTICLE 1.

PREMISES; TERM; USE

     1.01. Demise. Landlord hereby leases to Tenant and Tenant hereby hires from Landlord, subject
to the terms and conditions of this Lease, the space on the 15th and 16th floors of the Building
(the “Base Space”) and the space on the 17th floor of the Building (the “Swing
Space”; the Base Space together with the Swing Space, the “Premises”) all substantially
as shown hatched on the plan annexed as Exhibit B.

     1.02. Term. The term of this Lease (the “Term”) shall commence on the date of this
Lease (the “Commencement Date”) and shall end, unless sooner terminated as herein provided,
on the last day of the calendar month in which occurs the ten (10) year, eight (8) month
anniversary of the day preceding the Possession Date (such date, as the same may be extended
pursuant to Section 1.05(b)(v), Section 1.06(e), Section 1.07(g) and
Article 10, is called the “Expiration Date”). Promptly after the occurrence of the
Possession Date, Landlord and Tenant shall confirm the occurrence thereof and the Expiration Date
by executing an instrument reasonably satisfactory to Landlord and Tenant; provided, that
failure by Landlord or Tenant to execute such instrument shall not affect the occurrence of the
Possession Date or the Expiration Date in accordance with this Section 1.02.

     1.03. Inability to Deliver. (a) Landlord shall exercise diligent efforts to cause the
Possession Date to occur on or before the date that is twenty (20) days following the Commencement
Date. Except as may be caused by Force Majeure or Tenant Delay, (i) if the Possession Date shall
have failed to occur by the date that is forty-five (45) days after the Commencement Date, then,
for each day from such 45th day to the earlier to occur of the Possession Date and the fifty-ninth
(59th) day after the Commencement Date, the Base Space Rent Commencement Date shall be extended an

 

 

additional one-half (1/2) day for each such day and (ii) if the Possession Date shall have
failed to occur by the date that is sixty (60) days after the Commencement Date, then the Base
Space Rent Commencement Date shall be extended one (1) additional day for each day after such 60th
day until the occurrence of the Possession Date. “Force Majeure” means any strike, lockout
or other labor or industrial troubles, governmental preemption in connection with a national
emergency, any rule, order or regulation of any governmental agency applicable to the Building or
to the party obligated to perform, conditions of supply or demand that are affected by war or other
national, state or municipal emergency, fire or other casualty, acts of God such as (by way of
example only) tornado, earthquake, hurricane, washout or storm, civil disturbance, act of the
public enemy, riot, sabotage, blockade, embargo, explosion or any other cause beyond a party’s
reasonable control (other than such party’s financial inability to pay), whether or not similar to
any of the causes hereinabove stated.

     (b) Except as may be caused by Force Majeure or Tenant Delay, if the Possession Date shall
have failed to occur by the date (the “Outside Date”) that is one hundred sixty-five (165)
days following the Commencement Date, then Tenant shall have the one-time right, as Tenant’s sole
and exclusive remedy, to terminate this Lease by written notice (a “Termination Notice”) to
Landlord given within ten (10) days following the Outside Date. Such termination shall be
effective on the date (the “Termination Date”) that is thirty (30) days following the date
of such Termination Notice, with the same force and effect as if the Termination Date were the
Expiration Date under this Lease, and Tenant shall deliver vacant possession of the Swing Space to
Landlord on the Termination Date in accordance with all of the terms and provisions of this Lease.
If Tenant shall fill to deliver timely a Termination Notice to Landlord within ten (10) days
following the Outside Date, then Tenant shall be deemed to have irrevocably waived its right to
terminate this Lease pursuant to this Section 1.03(b).

     (c) Except as otherwise provided in this Section 1.03, if for any reason Landlord
shall be unable to deliver possession of the Premises to Tenant on any date specified in this Lease
for such delivery, Landlord shall have no liability to Tenant therefor, Tenant shall have no right
or remedy against Landlord, and the validity of this Lease shall not be impaired, nor shall the
Term be extended, by reason thereof. This Section 1.03(c) shall be an express provision to
the contrary for purposes of Section 223-a of the New York Real Property Law and any other law of
like import now or hereafter in effect.

     1.04. Use. (a) The Premises shall be used and occupied by Tenant (and its permitted
subtenants and occupants) solely as first-class general and executive offices and a trading floor
(including such ancillary uses in connection therewith as shall be reasonably required by Tenant in
the operation of its business, including, without limitation, “convenience areas,” which may
include coffee stations, mini refrigerators, and microwave ovens) and for no other purpose;
provided, that in no event shall the Premises be used for any of the following: (a) a
banking, trust company, or safe deposit business, in each ease operating as a retail facility or
otherwise open for business to the

-2-

 

general public, (b) a savings bank, a savings and loan association, or a loan company, in each
case operating as a retail facility or otherwise open for business to the general public, (c) the
sale of travelers’ checks and/or foreign exchange, in each case operating as a retail facility or
otherwise open for business to the general public, (d) a stock brokerage office whose business
involves off-the-street retail sales to the general public, (e) a restaurant, bar or for the sale
of food or beverages, (f) photographic reproductions and/or offset printing, other than such
incidental printing as Tenant may perform in connection with the conduct of Tenant’s usual business
operations, (g) an employment or travel agency or airline ticket counter, (h) a school or
classroom, except that Tenant may use part of the Premises for classroom and educational purposes
for training Tenant’s own employees, (i) medical, dental or psychiatric offices, except for
providing such services to Tenant’s own employees, (j) conduct of an auction, (k) gambling
activities, (l) conduct of obscene, pornographic or similar disreputable activities, (m) offices of
an agency, department or bureau of the United States Government, any state or municipality within
the United States or any foreign government, or any political subdivision of any of them, (n)
offices of any charitable, religious, union or other not-for-profit organization, or (o) offices of
any tax exempt entity within the meaning of Section 168(h)(2) of the Internal Revenue Code of 1986,
as amended, or any successor or substitute statute, or rule or regulation applicable thereto. The
Premises shall not be used for any purpose which would lower the first-class character of the
Building, materially impair or interfere with any of the Building operations or the proper and
economic heating, ventilation, air-conditioning, cleaning or other servicing of the Building,
constitute a public or private nuisance, materially interfere with, annoy or disturb any other
tenant or Landlord, or impair the appearance of the Building.

     1.05. Expansion Space. (a) Provided that on the date Tenant exercises the Expansion Option
and on the ES Inclusion Date (i) this Lease shall not have been terminated, (ii) Tenant shall not
be in default in the payment of any Rent and no other Event of Default shall have occurred and be
continuing, (iii) this Lease shall not have been assigned (except as permitted under Section
5.01(b) and Section 5.01(c)) or the Premises sublet, in whole or in part, and the named
Tenant herein (i.e., Thomas Weisel Partners Group LLC, the “Named Tenant”) or any Affiliate
of the Named Tenant to which this Lease may have been assigned pursuant to Section 5.01(c)
or any successor entity to the Named Tenant described in Section 5.01(b) (such Affiliate or
successor entity, each, a “Named Tenant Permitted Assignee”) has not, directly or
indirectly, parted with possession of all or any part of the Premises (other than to any Desk Space
User in accordance with Section 5.01(d) below), Tenant shall have the option (the
“Expansion Option”) to lease the space on the 14th floor of the Building substantially as
shown hatched on the floor plan annexed as Exhibit B-1 (the “Expansion Space”).
The Expansion Option shall be exercisable by Tenant giving Landlord notice thereof (the
“Expansion Notice”) on or before the date occurring in the fourth (4th) month after the
Commencement Date which is the same numerical date in the month as the Commencement Date, except
that if no same numerical date shall exist in such fourth (4th) month, the Expansion Notice shall
be given on or before the last day of such fourth

-3-

 

(4th) month (time being of the essence). If Tenant shall fail to timely give the Expansion
Notice, Tenant shall be deemed to have irrevocably waived the Expansion Option.

     (b) If Tenant timely gives the Expansion Notice, then, on the date on which Landlord delivers
vacant possession of the Expansion Space to Tenant with Landlord’s Initial Work in the Expansion
Space substantially completed within the meaning of the last sentence of Section 8.01(d)
(the “ES Inclusion Date”), the Expansion Space shall become part of the Premises, upon all
of the terms and conditions set forth in this Lease, except that:

          (i) the Fixed Rent payable pursuant to Section 2.02 shall be increased by an amount
equal to (x) for the period commencing on the date occurring in the eighth (8th) month after the ES
Inclusion Date which is the same numerical date in the month as the ES Inclusion Date or, if no
same numerical date shall exist in such eighth (8th) month, the last day of such eighth (8th) month
(such date being the “Expansion Space Rent Commencement Date”) and ending on the day
immediately preceding the 3rd anniversary of the Expansion Space Rent Commencement Date, Six
Hundred Sixty-Three Thousand and 00/100 Dollars ($663,000) per annum, (y) for the period commencing
on the 3rd anniversary of the Expansion Space Rent Commencement Date and ending on the day
immediately preceding the 5th anniversary of the Expansion Space Rent Commencement Date, Six
Hundred Ninety-Three Thousand Six Hundred and 00/100 Dollars ($693,600) per annum and (z) for the
period commencing on the 5th anniversary of the Expansion Space Rent Commencement Date and ending
on the Expiration Date, Seven Hundred Fifty-Four Thousand Eight Hundred and 00/100 Dollars
($754,800) per annum;

          (ii) Tenant’s Tax Share shall be increased by four and four tenths percent (4.4%);

          (iii) Tenant’s Operating Share shall be increased by four and four tenths percent (4.4%);

          (iv) Landlord’s Contribution shall be increased by Three Hundred Sixty-Seven Thousand and
00/100 Dollars ($367,000);

          (v) the Expiration Date shall be extended to the last day of the calendar month in which
occurs the ten (10) year, eight (8) month anniversary of the day preceding the ES Inclusion Date;
and

          (vi) the Security Deposit or Letter of Credit shall be increased by Four Hundred Forty-Two
Thousand and 00/100 Dollars ($442,000), and Tenant shall deliver such increase in the Security
Deposit or Letter of Credit to Landlord on or before the ES Inclusion Date, and if Tenant fails to
do so, the ES Inclusion Date shall nevertheless occur but Tenant shall not be permitted to occupy
the Expansion Space until Tenant so delivers such Security Deposit or Letter of Credit.

-4-

 

     (c) Promptly after the occurrence of the ES Inclusion Date, Landlord and Tenant shall confirm
the occurrence thereof; the Expiration Date and the inclusion of the Expansion Space in the
Premises by executing an instrument reasonably satisfactory to Landlord and Tenant;
provided, that failure by Landlord or Tenant to execute such instrument shall not affect
the inclusion of the Expansion Space in the Premises in accordance with this Section 1.05.

     (d) (i) Landlord shall exercise diligent efforts to cause the ES Inclusion Date to occur on
or before the date that is thirty (30) days following the giving of the Expansion Notice. Except
as may be caused by Force Majeure or Tenant Delay, (A) if the ES Inclusion Date shall have failed
to occur by the date that is forty-five (45) days after the date Landlord receives the Expansion
Notice, then, for each day from such 45th day to the earlier to occur of the ES Inclusion Date and
the fifty-ninth (59th) day after the date Landlord receives the Expansion Notice, the Expansion
Space Rent Commencement Date shall be extended one-half (1/2) day for each such day and (B) if the
ES Inclusion Date shall have failed to occur by the date that is sixty (60) days after the date
Landlord receives the Expansion Notice, then the Expansion Space Rent Commencement Date shall be
extended one (1) day for each day after such 60th day until the occurrence of the ES Inclusion
Date. No extension of the Expansion Space Rent Commencement Date pursuant to this Section
1.05(d) shall extend the Base Space Rent Commencement Date.

          (ii) Except as may be caused by Force Majeure or Tenant Delay, if the ES Inclusion Date shall
have failed to occur by the date (the “ES Inclusion Outside Date”) that is one hundred
sixty-five (165) days following the date Landlord receives the Expansion Notice, then Tenant shall
have the right, as Tenant’s sole and exclusive remedy, to terminate the Expansion Notice by written
notice (the “Expansion Termination Notice”) to Landlord given within five (5) days
following the ES Inclusion Outside Date. Such termination shall be effective the date of such
Expansion Termination Notice, with the same force and effect as if Tenant had never exercised the
Expansion Option. If Tenant shall fail to deliver timely an Expansion Termination Notice to
Landlord within five (5) days following the ES Inclusion Outside Date, then Tenant shall be deemed
to have irrevocably waived its right to terminate the Expansion Notice pursuant to this Section
1.05(d)(ii). No termination of the Expansion Notice pursuant to this Section
1.05(d)(ii) shall terminate or otherwise affect this Lease with respect to any other portion of
the Premises.

          (iii) Except as otherwise provided in this Section 1.05(d), if Landlord is unable to
deliver possession of the Expansion Space to Tenant for any reason, Landlord shall have no
liability to Tenant therefor, Tenant shall have no right or remedy against Landlord, and the
validity of this Lease shall not in any way be impaired nor shall the Term be extended by reason
thereof. This Section 1.05(d)(iii) constitutes “an express provision to the contrary”
within the meaning of Section 223-a of the New York Real Property Law and any other law of like
import now or hereafter in effect.

-5-

 

     (e) The rights granted in this Section 1.05 are available only to the Named Tenant and
any Named Tenant Permitted Assignee, and are not available to, and may not be exercised by, any
other assignee, or any subtenant, or any other entity claiming by, through or under Tenant.

     1.06. Refusal Space Option. (a) As used herein:

     “Refusal Period” means the period commencing on the Commencement Date to and including
the date that is 3 years prior to the Expiration Date.

     “Eligible Refusal Space” means (i) if Tenant has properly exercised the Expansion
Option and such exercise has not been terminated pursuant to Section 1.05(d)(ii) above
prior to the giving of the Refusal Space Notice, the space on the 12th and 13th floors of the
Building substantially as shown hatched on the floor plan annexed as Exhibit B-2, and (ii)
if Tenant has not properly exercised the Expansion Option or, if properly exercised, such exercise
has been terminated pursuant to Section 1.05(d)(ii) above prior to the giving of the
Refusal Space Notice, the space on the 13th and 14th floors of the Building substantially as shown
hatched on the floor plan annexed as Exhibit B-2.

     “Refusal Space” means, with respect to an Offer, the following portions of space in
the Building that the Offeror desires to lease from Landlord: (1) any space that is Eligible
Refusal Space and (2) any floor in the Building that is contiguous either to the Eligible Refusal
Space contained in such Offer or any Eligible Refusal Space which may then be a part of the
Premises.

     (b) (i) Provided (1) this Lease shall not have been terminated, (2) Tenant shall not be in
default in the payment of any Rent and no other Event of Default shall have occurred and be
continuing, and (3) the Named Tenant and/or any Named Tenant Permitted Assignee shall occupy more
than 50% of the entire Premises, and this Lease shall not have been assigned (except as permitted
under Section 5.01(b) or Section 5.01(c)), if at any time during the Refusal
Period, Landlord receives a written offer (an “Offer”) from or on behalf of a third party
(an “Offeror”) to lease any space in the Building which includes all or any portion of
Eligible Refusal Space and Landlord desires to accept such Offer, Landlord shall give a notice (a
“Refusal Space Notice”) to Tenant specifying the Refusal Space included in such Offer and,
with respect to such Refusal Space, (A) the fixed rent for such Refusal Space contained in the
Offer, (B) the term of the lease for the Refusal Space contained in the Offer, (C) the escalation
provisions for such Refusal Space contained in the Offer, (D) any renewal or expansion options
contained in the Offer, (E) any rent concessions or construction allowances for such Refusal Space
contained in the Offer, (F) any work to be performed by Landlord to ready such Refusal Space for
initial occupancy contained in the Offer, and (G) any other material terms and provisions of the
Offer with respect to such Refusal Space.

          (ii) Provided (1) this Lease shall not have been terminated, (2) Tenant shall not be in default
in the payment of any Rent and no other Event of

-6-

 

Default shall have occurred and be continuing, and (3) the Named Tenant and/or any Named
Tenant Permitted Assignee shall occupy more than 50% of the entire Premises, and this Lease shall
not have been assigned (except as permitted under Section 5.01(b) or Section
5.01(c)), if at any time after the expiration of the Refusal Period but prior to the latest
date on which Tenant may exercise the Renewal Option relating to the period immediately following
the then Expiration Date, Landlord receives an Offer from or on behalf of an Offeror to lease any
space in the Building which includes all or any portion of Eligible Refusal Space and Landlord
desires to accept such Offer, Landlord shall give a Refusal Space Notice to Tenant in accordance
with the provisions of Section 1.06(b)(i) which notice shall also indicate that Tenant may
then exercise the Refusal Space Option in accordance with the provisions of this Section
1.06 so long as Tenant simultaneously exercises the First Renewal Option or the Second Renewal
Option, as the case may be, in accordance with the provisions of Article 10 (including the
provisions of Section 10.01(f)).

     (c) Provided that on the date that Tenant exercises the Refusal Space Option and on the
Refusal Space Inclusion Date (i) this Lease shall not have been terminated, (ii) Tenant shall not
be in default in the payment of any Rent and no other Event of Default shall have occurred and be
continuing, and (iii) the Named Tenant and/or any Named Tenant Permitted Assignee shall occupy more
than 50% of the entire Premises, and this Lease shall not have been assigned (except as permitted
under Section 5.01(b) and Section 5.01(c)), and the Named Tenant and/or any Named
Tenant Permitted Assignee has not, directly or indirectly, parted with possession of 50% or more of
the Premises, Tenant shall have the option (the “Refusal Space Option”), exercisable by
notice (an “Acceptance Notice”) given to Landlord on or before the date that is 5 Business
Days after the giving of the Refusal Space Notice (time being of the essence), to include all (but
not less than all) of the Refusal Space in the Premises.

     (d) If Tenant timely delivers the Acceptance Notice, then, on the date on which Landlord
delivers vacant possession of the Refusal Space to Tenant (the “Refusal Space Inclusion
Date”), the Refusal Space shall become part of the Premises, upon all of the terms and
conditions set forth in this Lease, except (i) the Fixed Rent shall be increased by the amount set
forth in the Refusal Space Notice; (ii) except as set forth below, the term of this Lease with
respect to the Refusal Space (but not any other portion of the Premises) shall be as set forth in
the Refusal Space Notice; (iii) Tenant’s Tax Share with respect to the Refusal Space shall be the
percentage set forth in the Refusal Space Notice and the Base Tax Amount with respect to the
Refusal Space shall be the amounts (or years) set forth in the Refusal Space Notice; (iv) Tenant’s
Operating Share with respect to the Refusal Space shall be the percentage set forth in the Refusal
Space Notice and the Base Operating Amount with respect to the Refusal Space shall be the amounts
(or years) set forth in the Refusal Space Notice; (v) unless otherwise set forth in the Refusal
Space Notice, Landlord shall not be required to perform Landlord’s Initial Work or any other work,
pay Landlord’s Contribution or any other amount, or render any services to make the Building or the
Refusal Space ready for Tenant’s use or occupancy,

-7-

 

and Tenant shall accept the Refusal Space in its “as is” condition on the Refusal Space
Inclusion Date; and (vi) as may be otherwise set forth in the Refusal Space Notice.

     (e) Notwithstanding the provisions of Section l.06(d), if (i) the Refusal Space
Inclusion Date with respect to any Refusal Space shall have occurred at any time on or before the
one-year anniversary of the Commencement Date and (ii) the term of this Lease with respect to the
Refusal Space as set forth in the Refusal Space Notice is for ten (10) years, then Tenant shall
have the right, exercisable by written notice given to Landlord within five (5) days following the
Refusal Space Inclusion Date (time being of the essence), to elect that the Term of this Lease with
respect to such Refusal Space and any other space in the Building which shall then be a part of the
Premises (but not including any Offer Space with respect to which Section 1.07(g) shall not
be applicable) shall be the later of (A) the initial Expiration Date set forth in this Lease (as
the same may have been extended pursuant to Section 1.05(b)(v) and/or Section
1.07(g) hereof) and (B) the last day of the calendar month in which occurs the ten (10) year
anniversary of the day preceding the Refusal Space Inclusion Date. If Tenant shall fail to
exercise timely its right to make the Term of this Lease co-terminous with respect to the Premises
and Refusal Space as provided in this Section 1.06(e), Tenant shall be deemed to have
irrevocably waived such right. If Tenant shall have timely exercised its right to so make the Term
of this Lease co-terminous, then the Expiration Date shall be the later of the dates described in
subclauses (A) and (B) of this Section 1.06(e), and the annual Fixed Rent payable with
respect to the Refusal Space in question and any other portion of the Building which shall then be
a part of the Premises (but not including any Offer Space), for the period, if any, commencing on
the Expiration Date of this Lease (determined without giving effect to this Section
1.06(e)) and ending on the Expiration Date of this Lease (determined giving effect to this
Section 1.06(e)), shall be the greater of (A) the annual Fixed Rent payable with respect to
the Refusal Space during such period and (B) the annual Fixed Rent payable pursuant to Section
2.02 with respect to such other portion of the Premises immediately prior to the Expiration
Date (determined without giving effect to this Section 1.06(e)).

     (f) Except as otherwise provided in the Refusal Space Notice, if Landlord is unable to deliver
possession of the Refusal Space to Tenant for any reason on or before any date set forth in the
Refusal Space Notice, the Refusal Space Inclusion Date shall be the date on which Landlord is able
to so deliver possession and Landlord shall have no liability to Tenant therefor, Tenant shall have
no right or remedy against Landlord, and the validity of this Lease shall not in any way be
impaired nor shall the Term be extended by reason thereof. This Section 1.06(f)
constitutes “an express provision to the contrary” within the meaning of Section 223-a of the New
York Real Property Law and any other law of like import now or hereafter in effect.

     (g) If Tenant shall fail to timely give the Acceptance Notice with respect to any Refusal
Space Notice, then, except as provided in the next to the last sentence of this Section
1.06(g), (x) Tenant shall be deemed to have irrevocably waived the Refusal Space Option as to
the particular transaction and any proposed future lease

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which would demise the floor or floors which constitute the Eligible Refusal Space described
in the applicable Refusal Space Notice, whether or not such proposed lease would also demise any
other space in the Building, (y) Landlord shall have no further obligation to offer such Eligible
Refusal Space to Tenant and (z) Landlord may lease such Eligible Refusal Space to any third party
upon such terms as Landlord shall determine. In clarification, and without limiting the
generality, of the preceding sentence, for example (A) if the Eligible Refusal Space is the 13th
and 14th floors, the Refusal Space in a Refusal Space Notice is only the 14th floor, no Refusal
Space Notice previously has been given with respect to the 13th floor and Tenant does not timely
deliver the Acceptance Notice with respect to such Refusal Space Notice, then Tenant shall be
deemed to have irrevocably waived Tenant’s Refusal Space Option with respect to the 14th floor (and
any future lease which includes all or any portion of the 14th floor, whether or not such future
lease includes other space in the Building other than the 13th floor), but not the 13th floor; it
being understood that if thereafter Landlord desires to lease space on both the 13th and 14th
floors in a single transaction, then such leasing shall be subject to the provisions of this
Section 1.06 and (B) if the Refusal Space in a Refusal Space Notice contains space on both
of the floors comprising the Eligible Refusal Space, and Tenant does not timely deliver the
Acceptance Notice, then Tenant shall be deemed to have irrevocably waived its Refusal Space Option
with respect to all of the Eligible Refusal Space. Notwithstanding the foregoing provisions of
this Section 1.06(g), if, with respect to any Refusal Space Notice, Landlord does not lease
the Refusal Space in question to any third party within 6 months after the last date on which
Tenant was entitled to give an Acceptance Notice with respect to such Refusal Space or if the net
effective rent on a per square foot basis (including fixed rent, additional rent, rent concessions
and construction allowances) upon which Landlord desires to lease the applicable Refusal Space to
such third party is less than 95% of the net effective rent on a per square foot basis (including
fixed rent, additional rent, concessions and construction allowances) specified in the Refusal
Space Notice, then Tenant’s Refusal Space Option with respect to the Eligible Refusal Space
contained in the applicable Refusal Space Notice shall again be in force and effect. Tenant shall,
upon demand by Landlord, execute an instrument confirming Tenant’s waiver of, and extinguishing,
the Refusal Space Option with respect to any Eligible Refusal Space for which Tenant fails timely
to give an Acceptance Notice, but the failure by Tenant to execute any such instrument shall not
affect the provisions of this Section 1.06(g).

     (h) Promptly after the occurrence of the Refusal Space Inclusion Date, Landlord and Tenant
shall confirm the occurrence thereof and the inclusion of the Refusal Space in the Premises by
executing an instrument reasonably satisfactory to Landlord and Tenant; provided, that
failure by Landlord or Tenant to execute such instrument shall not affect the inclusion of the
Refusal Space in the Premises in accordance with this Section 1.06.

     (i) Anything in this Lease to the contrary notwithstanding, this Section 1.06 shall be
null and void and of no force or effect if (i) the Named Tenant or any Named Tenant Permitted
Assignee is no longer the Tenant under this Lease, (ii) the

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Named Tenant and/or any Named Tenant Permitted Assignee at any time fails to occupy more than
50% of the entire Premises, or (iii) Tenant shall at any time be in default in the payment of any
Rent or any other Event of Default shall have occurred and be continuing.

     (j) The rights granted in this Section 1.06 are available only to the Named Tenant or
any Named Tenant Permitted Assignee, and are not available to, and may not be exercised by, any
other assignee or any subtenant, or any other entity claiming by, through or under Tenant.

     1.07. Right of First Offer. (a) As used herein:

     “Available” means, as to any Eligible Offer Space, that (i) the Unilever Lease with
respect to such Eligible Offer Space has expired at the end of the stated term thereof or has been
terminated either upon default by Unilever thereunder or by written agreement of Unilever and, in
any such case, such date of expiration or termination is at least 3 years prior to the Expiration
Date, (ii) no right of extension, renewal, expansion, right of first offer, first refusal or other
present or future possessory right exists in favor of Unilever, or any person or entity claiming
by, through or under Unilever and (iii) such Eligible Offer Space is vacant and free of occupants.

     “Offer Period” means the period commencing on the Commencement Date to and including
the date that is 3 years prior to the Expiration Date.

     “Eligible Offer Space” means any of the 18th, 19th, 20th or 21st floors of the
Building that may become Available in their entirety.

     “Unilever Lease” means that certain lease, dated as of December 17, 1998, between
Landlord and Unilever United States, Inc. (“Unilever”), for the Eligible Offer Space, as
such lease may be modified, amended, renewed, extended or supplemented.

     (b) (i) Provided (1) this Lease shall not have been terminated, (2) Tenant shall not be in
default in the payment of any Rent and no other Event of Default shall have occurred and be
continuing, and (3) the Named Tenant and/or any Named Tenant Permitted Assignee shall occupy more
than 50% of the entire Premises, and this Lease shall not have been assigned (except as permitted
pursuant to Section 5.01(b) and Section 5.01(c)), if at any time during the Offer
Period any Eligible Offer Space either becomes, or Landlord reasonably anticipates that within the
next 12 months (but not later than the last day of the Offer Period) any Eligible Offer Space will
become, Available, Landlord shall give to Tenant notice (an “Offer Notice”) thereof,
specifying (A) the Eligible Offer Space which is Available or which Landlord so reasonably
anticipates will become Available and any other space in the Building which Landlord intends to
offer for lease with such Eligible Offer Space (the “Offer Space”) (it being understood
that the Offer Space shall include the applicable portion of the Eligible Offer Space and any other
space in the Building, wherever located, which Landlord so desires to offer for lease), (B) the
fixed annual rental (“Offer Rental”) which Landlord is then considering for the

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lease of the Offer Space, (C) the date or estimated date that the Offer Space has or shall
become Available, (D) the term for which Landlord intends to offer such Offer Space for lease, (E)
the escalation provisions applicable to such Offer Space, (F) any renewal or expansion options, (G)
any rent concessions or construction allowances, (H) any work to be performed by Landlord, and (I)
such other matters as Landlord may deem appropriate for such Offer Notice.

          (ii) Provided (1) this Lease shall not have been terminated, (2) Tenant shall not be in default
in the payment of any Rent and no other Event of Default shall have occurred and be continuing, and
(3) the Named Tenant and/or any Named Tenant Permitted Assignee shall occupy more than 50% of the
entire Premises, and this Lease shall not have been assigned (except as permitted under Section
5.01(b) or Section 5.01(c)), if at any time after the expiration of the Offer Period
but prior to the latest date on which Tenant may exercise the Renewal Option relating to the period
immediately following the then Expiration Date, any Eligible Offer Space either becomes, or
Landlord reasonably anticipates that within the next 12 months (but not later than the last day of
the Offer Period) any Eligible Offer Space will become, Available, Landlord shall give an Offer
Notice to Tenant in accordance with the provisions of Section 1.07(b)(i) which notice shall
also indicate that Tenant may then exercise the Offer Space Option in accordance with the
provisions of this Section 1.07 so long as Tenant simultaneously exercises the First
Renewal Option or the Second Renewal Option, as the case may be, in accordance with the provisions
of Article 10 (including the provisions of Section 10.01(f)).

     (c) Provided that on the date that Tenant exercises the Offer Space Option and on the Offer
Space Inclusion Date (i) this Lease shall not have been terminated, (ii) Tenant shall not be in
default in the payment of any Rent and no other Event of Default shall have occurred and be
continuing, and (iii) the Named Tenant and/or any Named Tenant Permitted Assignee shall occupy more
than 50% of the entire Premises, and this Lease shall not have been assigned (except as may be
permitted under Section 5.01(b) and Section 5.0l(c)). Tenant shall have the option
(the “Offer Space Option”), exercisable by notice (an “Offer Acceptance Notice”)
given to Landlord on or before the date that is 15 Business Days after the giving of the Offer
Notice (time being of the essence) to include all (but not less than all) of the Offer Space in the
Premises.

     (d) If Tenant timely delivers the Offer Acceptance Notice, then, on the date on which Landlord
delivers vacant possession of the Offer Space to Tenant (the “Offer Space Inclusion Date”),
the Offer Space shall become part of the Premises, upon all of the terms and conditions set forth
in this Lease, except (i) the Fixed Rent shall be increased by the amount of the Offer Rental set
forth in the Offer Notice; (ii) the term of this Lease with respect to the Offer Space (but not any
other portion of the Premises) shall be as set forth in the Offer Notice; (iii) Tenant’s Tax Share
with respect to the Offer Space shall be the percentage set forth in the Offer Notice and the Base
Tax Amount with respect to the Offer Space shall be revised to reflect the amounts (or years) set
forth in the Offer Notice; (iv) Tenant’s Operating Share with respect to the Offer Space shall be
the

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percentage set forth in the Offer Notice and the Base Operating Amount with respect to the
Offer Space shall be the amounts (or years) set forth in the Offer Notice; (v) unless otherwise set
forth in the Offer Notice, Landlord shall not be required to perform Landlord’s Initial Work or any
other work, pay Landlord’s Contribution or any other amount, or render any services to make the
Building or the Offer Space ready for Tenant’s use or occupancy, and Tenant shall accept the Offer
Space in its “as is” condition on the Offer Space Inclusion Date; and (vi) as may be otherwise set
forth in the Offer Notice.

     (e) Except as otherwise provided in the Offer Space Notice, if Landlord is unable to deliver
possession of the Offer Space to Tenant for any reason on or before any date set forth in the Offer
Notice, the Offer Space Inclusion Date shall be the date on which Landlord is able to so deliver
possession and Landlord shall have no liability to Tenant therefor and the validity of this Lease
shall not in any way be impaired nor shall the Term be extended by reason thereof. This
Section 1.07(e) constitutes “an express provision to the contrary” within the meaning of
Section 223-a of the New York Real Property Law and any other law of like import now or hereafter
in effect.

     (f) If Tenant shall fail to timely give the Offer Acceptance Notice with respect to any Offer
Space Notice, then, except as provided in the next to the last sentence of this Section
l.07(f), (x) Tenant shall be deemed to have irrevocably waived the Offer Space Option as to the
particular transaction and Landlord’s consideration of any future lease to demise, in whole or in
part, the floor or floors which constitute all or a portion of the Eligible Offer Space described
in the applicable Offer Notice, whether or not such lease would also demise any other space in the
Building, (y) except as hereinafter provided, Landlord shall have no further obligation to offer
such Eligible Offer Space to Tenant and (z) Landlord may lease such Eligible Offer Space to any
third party upon such terms as Landlord shall determine. In clarification, and without limiting
the generality, of the preceding sentence, for example (A) if the Offer Space in an Offer Notice is
only the 18th floor, no Offer Space Notice with respect to any other Offer Space previously has
been given and Tenant does not timely deliver the Offer Acceptance Notice with respect to such
Offer Space Notice, then Tenant shall be deemed to have irrevocably waived Tenant’s Offer Space
Option with respect to the 18th floor (and Landlord’s consideration of any future lease which
includes the 18th floor, whether or not such future lease includes other space in the Building
other than Eligible Offer Space), but not the 19th, 20th and 21st floors and (B) if the Offer Space
in an Offer Notice constitutes all of the floors comprising the Eligible Offer Space, and Tenant
does not timely deliver the Acceptance Notice, then Tenant shall be deemed to have irrevocably
waived its Offer Space Option with respect to all of the Eligible Offer Space. Notwithstanding the
foregoing provisions of this Section 1.07(f), if, with respect to any Offer Space Notice,
Landlord does not lease all of the Offer Space in question in a single transaction to any third
party within 6 months after the last date on which Tenant was entitled to give an Offer Acceptance
Notice with respect to such Offer Space or if the net effective rent on a per square foot basis
(including fixed rent, additional rent, rent concessions and construction allowances) upon which
Landlord desires to lease the

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applicable Offer Space to such third party is less than 90% of the net effective rent on a per
square foot basis (including fixed rent, additional rent, concessions and construction allowances)
specified in the Offer Space Notice, then Tenant’s Offer Space Option with respect to the Eligible
Offer Space contained in the applicable Offer Space Notice shall again be in force and effect.
Tenant shall, upon demand by Landlord, execute an instrument confirming Tenant’s waiver of, and
extinguishing, the Offer Space Option with respect to any Eligible Offer Space for which Tenant
fails timely to give an Offer Acceptance Notice, but the failure by Tenant to execute any such
instrument shall not affect the provisions of this Section 1.07(f).

     (g) Notwithstanding the provisions of Section 1.07(d), if (i) the Offer Space
Inclusion Date with respect to any Offer Space shall have occurred at any time on or before the
one-year anniversary of the Commencement Date and (ii) the term of the lease with respect to the
Offer Space as set forth in the Offer Notice is for ten (10) years, then Tenant shall have the
right, exercisable by written notice given to Landlord within five (5) days following the Offer
Space Inclusion Date (time being of the essence), to elect that the Term of this Lease with respect
to such Offer Space and any other space in the Building which shall then be a part of the Premises
(but not including any other Offer Space with respect to which this Section 1.07(g) shall
not be applicable) shall be the later of (A) the initial Expiration Date set forth in this Lease
(as the same may have been extended pursuant to Section 1.05(b)(v) and/or Section
1.06(e) hereof) and (B) the last day of the calendar month in which occurs the ten (10) year
anniversary of the day preceding the Offer Space Inclusion Date. If Tenant shall fail to exercise
timely its right to make the Term of this Lease co-terminous with respect to the Premises and Offer
Space as provided in this Section 1.07(g), Tenant shall be deemed to have irrevocably
waived such right. If Tenant shall have timely exercised its right to so make the Term of this
Lease co-terminous, then the Expiration Date shall be the later of the dates described in
subclauses (A) and (B) of this Section 1.07(g) and the annual Fixed Rent payable with
respect to the Offer Space in question and any other portion of the Building which shall then be a
part of the Premises (but not including any Refusal Space or any other Offer Space with respect to
which this Section 1.07(g) shall not be applicable), for the period, if any, commencing on
the Expiration Date of this Lease (determined without giving effect to this Section
1.07(g)) and ending on the Expiration Date of this Lease (determined giving effect to this
Section 1.07(g)), shall be the greater of (A) the annual Fixed Rent payable with respect to
the Offer Space during such period and (B) the annual Fixed Rent payable pursuant to Section
2.02 with respect to such other portion of the Premises immediately prior to the Expiration
Date (determined without giving effect to this Section 1.07(g)).

     (h) Promptly after the occurrence of the Offer Space Inclusion Date, Landlord and Tenant shall
confirm the occurrence thereof and the inclusion of the Offer Space in the Premises by executing an
instrument reasonably satisfactory to Landlord and Tenant, provided, that failure by
Landlord or Tenant to execute such instrument shall not affect the inclusion of the Offer Space in
the Premises in accordance with this Section 1.07.

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     (i) Anything in this Lease to the contrary notwithstanding, this Section 1.07 shall be
null and void and of no force or effect if (i) the Named Tenant or any Named Tenant Permitted
Assignee is no longer the Tenant under this Lease, (ii) the Named Tenant and/or any Named Tenant
Permitted Assignee at any time fails to occupy more than 50% of the entire Premises or (iii) Tenant
shall at any time be in default in the payment of any Rent or any other Event of Default shall have
occurred and be continuing.

     (j) The rights granted in this Section 1.07 are available only to the Named Tenant or
any Named Tenant Permitted Assignee, and are not available to, and may not be exercised by, any
other assignee or any subtenant, or any other entity claiming by, through or under Tenant.

     1.08. Swing Space. (a) Commencing on the Commencement Date, Tenant shall occupy the Swing
Space, subject to all of the terms, covenants and conditions contained in this Lease, except that,
notwithstanding any provision of this Lease to the contrary, the provisions of this Section
1.08 shall apply to the Swing Space.

     (b) (i) During the period from the Commencement Date to but not including the earlier of the
Delivery Date and the date occurring in the fourth (4th) month after the Commencement Date which is
the same numerical date in the month as the Commencement Date or, if no same numerical date shall
exist in such fourth (4th) month, the last day of such fourth (4th) month (such date, as the same
may be extended pursuant to the last sentence of this Section 1.08(b)(i), being the “4
Month Date”), Tenant shall pay to Landlord, as Additional Charges for electricity supplied and
cleaning services provided to the Swing Space, an amount equal to $56,100.00 per annum, such
payment to be made in equal monthly installments of $4,675 commencing on the Commencement Date and
on each monthly anniversary of the Commencement Date. Notwithstanding anything to the contrary
contained herein, the 4 Month Date shall be extended by the same number of days as the Base Space
Rent Commencement Date is extended, if any, pursuant to the provisions of Section l.03(a)
hereof.

          (ii) If the Delivery Date shall not have theretofore occurred, during the period from the 4
Month Date to but not including the earlier of the Delivery Date and the Base Space Rent
Commencement Date, Tenant shall pay to Landlord, as Fixed Rent for the Swing Space, an amount equal
to $357,000.00 per annum, and as Additional Charges for electricity supplied and cleaning services
provided to the Swing Space, an amount equal to $56,100.00 per annum, such payment to be made in
equal monthly installments of $34,425 commencing on the 4 Month Date and on each monthly
anniversary of the 4 Month Date.

          (iii) If the Delivery Date shall not have theretofore occurred, during the period from the Base
Space Rent Commencement Date to but not including the Delivery Date, all of Tenant’s obligations to
pay Fixed Rent and Additional Charges pursuant to the provisions of Article 2 shall apply
to the Swing Space without distinction

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from the Base Space, and Tenant shall pay to Landlord, as Fixed Rent, the amounts set forth in
Section 2.02 as payable for the period commencing on the Swing Space Rent Commencement Date
and for all periods commencing thereafter.

     (c) As promptly as reasonably practical after the substantial completion of the Alterations
performed by Tenant to ready the Base Space for Tenant’s initial occupancy, Tenant shall vacate the
Swing Space and deliver same to Landlord in substantially the same condition as the Swing Space was
delivered to Tenant on the Commencement Date, reasonable wear and tear excepted and recognizing
that Landlord’s Initial Work in the Swing Space will include the interior demolition of such space.
In connection with Tenant’s vacating of the Swing Space and delivery thereof to Landlord, Tenant
shall not be required to remove any electrical wiring or cabling or other installations that Tenant
may have installed in the Swing Space; provided, that if such nonremoval by Tenant
materially increases the cost to Landlord of performing Landlord’s Initial Work in the Swing Space,
then Tenant shall pay the actual amount of such increase to Landlord upon Landlord’s demand
therefor. Promptly after the later of (i) the date on which Tenant actually delivers the Swing
Space to Landlord in accordance with the provisions of this Section 1.08(c) and (ii) the
date which is ten (10) Business Days after the date Landlord has received written notice from
Tenant stating that Tenant reasonably intends to vacate or has vacated the Swing Space (the later
of such dates being the “Delivery Date”), Landlord shall commence the performance of
Landlord’s Initial Work in the Swing Space.

     (d) Prior to the Delivery Date, Landlord shall not be required to perform Landlord’s Initial
Work or any other work, pay Landlord’s Contribution or any other amount, or render any services to
make the Swing Space ready for Tenant’s use or occupancy, and Tenant shall accept the Swing Space
in its “as is” condition on the Commencement Date.

     (e) Prior to the date that Landlord completes Landlord’s Initial Work in the Swing Space,
Tenant may not sublet or otherwise part with possession of all or any portion of the Swing Space or
perform any Alterations in the Swing Space.

     (f) If the Base Space Rent Commencement Date is not the same numerical day of the month as the
4 Month Date, then the amount paid by Tenant in respect of the Swing Space as Fixed Rent pursuant
to this Section 1.08 for the month in which the Base Space Rent Commencement Date occurs
shall be appropriately prorated.

     (g) (i) The “Swing Space Possession Date” means the earlier to occur of (x) the date
on which Landlord delivers vacant possession of the Swing Space to Tenant with Landlord’s Initial
Work with respect to the Swing Space substantially completed within the meaning of the last
sentence of Section 8.01(d) and (y) the date after the Delivery Date that Tenant takes
possession of any part of the Swing Space for the performance of Alterations or for any other
reason. Landlord shall exercise diligent efforts to deliver vacant possession of the Swing Space
to Tenant, with Landlord’s Initial

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Work with respect to the Swing Space substantially completed (within the meaning of the last
sentence of Section 8.0l(d)) on or before the date that is twenty (20) days following the
Delivery Date. Except as may be caused by Force Majeure or Tenant Delay, (A) if the Swing Space
Possession Date shall have failed to occur by the date that is forty-five (45) days following the
Delivery Date, then, for each day from such 45th day to the earlier to occur of the Swing Space
Possession Date and the fifty-ninth (59th) day after the Delivery Date, the Swing Space Rent
Commencement Date shall be extended an additional one-half (1/2) day for each such day and (B) if
the Swing Space Possession Date shall have failed to occur by the date that is sixty (60) days
after the Delivery Date, then the Swing Space Rent Commencement Date shall be extended one (1)
additional day for each day after such 60th day until the occurrence of the Swing Space Possession
Date.

          (ii) Except as otherwise provided in this Section 1.08(c), if Landlord is unable to
deliver possession of the Swing Space to Tenant for any reason, Landlord shall have no liability to
Tenant therefor, Tenant shall have no right or remedy against Landlord, and the validity of this
Lease shall not in any way be impaired nor shall the Term be extended by reason thereof. This
Section 1.08(g)(ii) constitutes “an express provision to the contrary” within the meaning
of Section 223-a of The New York Real Property Law and any other law of like import now or
hereafter in effect.

     (h) Landlord and Tenant expressly acknowledge and agree that (i) if the Delivery Date is after
the Base Space Rent Commencement Date, from the Base Space Rent Commencement Date to but not
including the Delivery Date, and (ii) from the Swing Space Rent Commencement Date to the Expiration
Date, all of Tenant’s obligations to pay Fixed Rent and Additional Charges pursuant to the
provisions of Article 2 shall apply to the Swing Space without distinction from the Base
Space (which together with the Swing Space comprise the initial Premises demised hereby).

ARTICLE 2.

RENT

     2.01. Rent. “Rent” shall consist of Fixed Rent and Additional Charges.

     2.02. Fixed Rent. The fixed rent (“Fixed Rent”) shall be (a) for the period
commencing on the Base Space Rent Commencement Date and ending on the day immediately preceding the
Swing Space Rent Commencement Date, at the annual rate of One Million Three Hundred Twenty-Six
Thousand and 00/100 Dollars ($1,326,000.00), (b) for the period commencing on the Swing Space Rent
Commencement Date and ending on the day immediately preceding the 3rd anniversary of the Base Space
Rent Commencement Date, at the annual rate of One Million Nine Hundred Eighty-Nine Thousand and
00/100 Dollars ($1,989,000.00), (c) for the period commencing on the 3rd anniversary of the Base
Space Rent Commencement Date and ending on the day immediately preceding the 5th anniversary of the
Base Space Rent Commencement Date, at the annual rate of Two Million Eighty Thousand Eight Hundred
and 00/100 Dollars ($2,080,800.00), and (d) for the period commencing on the 5th anniversary of the
Base

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Space Rent Commencement Date and ending on the Expiration Date of the initial Term, at the
annual rate of Two Million Two Hundred Sixty-Four Thousand Four Hundred and 00/100 Dollars
($2,264,400.00); provided, that if the Expiration Date is extended pursuant to Section
1.06(e), then the Fixed Rent payable for the period commencing on the Expiration Date
(determined without giving effect to Section 1.06(e)) and ending on the Expiration Date as
so extended pursuant to Section 1.06(e) shall be determined pursuant to the provisions of
Section 1.06(e). Fixed Rent shall be payable by Tenant in equal monthly installments in
advance on the Base Space Rent Commencement Date amid on the first day of each calendar month
thereafter; provided, that Tenant shall pay, upon the execution and delivery of this Lease
by Tenant, the first full monthly installment of Fixed Rent due upon the Base Space Rent
Commencement Date; and provided, further, that if the Base Space Rent Commencement
Date is not the first day of a month, then Fixed Rent for the month in which the Base Space Rent
Commencement Date occurs shall be prorated and credited against the Rent due for the next
succeeding month (so long as Tenant paid the first full monthly installment of Fixed Rent upon the
execution and delivery of this Lease). Subject to Section 1.03(a), the “Base Space
Rent Commencement Date” means the date occurring in the eighth (8th) month after the Possession
Date which is the same numerical date in the month as the Possession Date or, if no same numerical
date shall exist in such eighth (8th) month, the Base Space Rent Commencement Date shall be the
last day of such eighth (8th) month. Subject to Section 1.08(h), the “Swing Space Rent
Commencement Date” means the date occurring in the eighth (8th) month after the Swing Space
Possession Date which is the same numerical date in the month as the Swing Space Possession Date
or, if no same numerical date shall exist in such eighth (8th) month, the Swing Space Rent
Commencement Date shall be the last day of such eighth (8th) month.

     2.03. Additional Charges. “Additional Charges” means Tax Payments, Operating Payments
and all other sums of money, other than Fixed Rent, at any time payable by Tenant under this Lease,
all of which Additional Charges shall be deemed to be rent.

     2.04. Tax Payments. (a) “Base Tax Amount” means the Taxes (excluding any amounts
described in Section 2.04(b)(iii)) that are payable for the first Tax Year commencing after
the Taxable Status Date which occurs on or after the date on which an aggregate of 80% or more of
the total rentable square footage of office space in the Building is leased and the tenants under
such leases are paying, or are obligated to then pay, rent to Landlord pursuant to the terms of
such leases. The term “Taxable Status Date” means, with respect to any Tax Year, the date
on which the assessed value of real properties in the City of New York is established by the
applicable taxing authority for such Tax Year, which date is presently January 5.

     (b) “Taxes” means (i) the real estate taxes, vault taxes, assessments and special
assessments levied, assessed or imposed upon or with respect to the Project by any federal, state,
municipal or other government or governmental body or authority, including, without limitation, any
taxes, assessments or charges imposed upon or against

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the Project, Landlord or the owner of the Project with respect to any business improvement
district, (ii) all taxes assessed or imposed with respect to the rentals payable under this Lease
other than general income and gross receipts taxes; provided, that any such tax shall
exclude Commercial Rent or Occupancy Taxes imposed pursuant to Title 11, Chapter 7 of the New York
City Administrative Code so long as such tax is required to be paid by Tenants directly to the
taxing authority and (iii) any administrative and other expenses incurred by Landlord in contesting
such taxes or assessments and/or the assessed value of the Project, which expenses shall be
allocated to the Tax Year to which such expenses relate. If at any time the method of taxation
shall be altered so that in lieu of or as an addition to or as a substitute for, the whole or any
part of such real estate taxes, assessments and special assessments now imposed on real estate,
there shall be levied, assessed or imposed (x) a tax, assessment, levy, imposition, fee or charge
wholly or partially as a capital levy or otherwise on the rents received therefrom, or (y) any
other additional or substitute tax, assessment, levy, imposition, fee or charge, including, without
limitation, business improvement district and transportation taxes, fees and assessments, then all
such taxes, assessments, levies, impositions, fees or charges or the part thereof so measured or
based shall be included in Taxes. If the owner, or lessee under a Superior Lease, of all or any
part of the Building and/or the Land is an entity exempt from the payment of taxes described in
clauses (i) and (ii), there shall be included in Taxes the taxes described in
clauses (i) and (ii) which would be so levied, assessed or imposed if such owner or
lessee were not so exempt to the extent that Landlord is obligated to pay such amounts to such
owner or lessee, and such taxes shall be deemed to have been paid by Landlord on the dates on which
such taxes otherwise would have been payable if such owner or lessee were not so exempt. Except as
permitted in this Section 2.04(b), Taxes shall not include any franchise, capital stock or
transfer tax.

     (c) “Tax Year” means each period of 12 months, commencing on the first day of July of
each such period, in which occurs any part of the Term, or such other period of 12 months occurring
during the Term as hereafter may be adopted as the fiscal year for real estate tax purposes of the
City of New York.

     (d) “Tenant’s Tax Share” means thirteen and two tenths percent (13.2%).

     (e) If Taxes for any Tax Year shall exceed the Base Tax Amount, Tenant shall pay to Landlord
(each, a “Tax Payment”) Tenant’s Tax Share of the amount by which Taxes for such Tax Year
are greater than the Base Tax Amount. Landlord may furnish to Tenant, prior to the commencement of
each Tax Year, a statement setting forth Landlord’s estimate of the Tax Payment for such Tax Year.
The Tax Payment for each Tax Year shall be due and payable in installments in the same manner that
Taxes for such Tax Year are due and payable to the City of New York, except that Tenant shall pay
Tenant’s Tax Share of each such installment to Landlord at least thirty (30) days prior to the date
such installment first becomes due and payable to the City of New York; provided,
however, that if Landlord shall at any time be required pursuant to the terms of any
Superior Mortgage or any Superior Lease to make any escrow payments in respect of

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Taxes, then Tenant shall pay to Landlord on the first day of each month during such Tax Year,
an amount equal to 1/12th of Landlord’s estimate of the Tax Payment for such Tax Year.
If Landlord shall not furnish any such estimate for a Tax Year or if Landlord shall furnish any
such estimate for a Tax Year subsequent to the commencement thereof, then (i) until the first day
of the month following the month in which such estimate is furnished to Tenant, Tenant shall pay to
Landlord in the manner provided in the immediately preceding sentence an amount equal to the amount
payable by Tenant to Landlord under this Section 2.04(e) in respect of the last period of
the preceding Tax Year; (ii) after such estimate is furnished to Tenant, Landlord shall notify
Tenant whether the installments of the Tax Payment previously made for such Tax Year were greater
or less than the installments of the tax Payment to be made in accordance with such estimate, and
(x) if there is a deficiency, Tenant shall pay the amount thereof within 20 days after demand
therefor, or (y) if there is an overpayment, Landlord shall refund to Tenant the amount thereof;
and (iii) following the month in which such estimate is furnished to Tenant and thereafter
throughout such Tax Year, Tenant shall pay to Landlord, in the manner provided in the immediately
preceding sentence, an amount equal to Tenant’s Tax Share of the Tax Payment shown on such
estimate. Landlord may, during each Tax Year, furnish to Tenant a revised statement of Landlord’s
estimate of the Tax Payment for such Tax Year, and in such case, the Tax Payment for such Tax Year
shall be adjusted and paid or refunded as the case may be, substantially in the same manner as
provided in the preceding sentence. After the end of each Tax Year Landlord shall furnish to
Tenant a statement of Tenant’s Tax Payment for such Tax Year (and shall endeavor to do so within
180 days after the end of each Tax Year). If such statement shall show that the sums paid by
Tenant, if any, under this Section 2.04(e) exceeded the Tax Payment to be paid by Tenant
for the applicable Tax Year, Landlord shall refund to Tenant the amount of such excess; and if such
statement shall show that the sums so paid by Tenant were less than the Tax Payment to be paid by
Tenant for such Tax Year, Tenant shall pay the amount of such deficiency within 20 days after
demand therefor. If there shall be any increase in the Taxes for any Tax Year, whether during or
after such Tax Year, or if there shall be any decrease in the Taxes for any Tax Year, the Tax
Payment for such Tax Year shall be appropriately adjusted and paid or refunded, as the case may be,
in accordance herewith. In no event, however, shall Taxes be reduced below the Base Tax Amount.

     (f) If Landlord shall receive a refund of Taxes for any Tax Year, Landlord shall credit
against the next succeeding installments of the Tax Payment Tenant’s Tax Share of the net refund
(after deducting from such refund the costs and expenses of obtaining the same, including, without
limitation, appraisal, accounting, administrative and legal fees, to the extent that such costs and
expenses were not included in the Taxes for such Tax Year); provided, that the amount of
such credit to Tenant shall in no event exceed Tenant’s Tax Payment paid for such Tax Year.

     (g) If the Taxes comprising the Base Tax Amount are reduced as a result of an appropriate
proceeding or otherwise, the Taxes as so reduced shall for all purposes be deemed to be the Base
Tax Amount and Landlord shall notify Tenant of the

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amount by which the Tax Payments previously made were less than the Tax Payments required to
be made under this Section 2.04, and Tenant shall pay the deficiency within 20 days after
demand therefor.

     2.05. Operating Payments. (a) “Base Operating Amount” means Operating Expenses for
the Base Operating Year.

     (b) “Base Operating Year” means calendar year 2000.

     (c) “Landlord’s Statement” means an instrument setting forth the Operating Payment
payable by Tenant for a specified Operating Year.

     (d) “Operating Expenses” means all expenses paid or incurred by or on behalf of
Landlord in respect of the repair, replacement, maintenance, management, operation and security of
the Project, including, without limitation (but without duplication), (i) salaries, wages, medical,
surgical, insurance (including, without limitation, group life and disability insurance), union and
general welfare benefits, pension payments, severance payments, sick day payments and other fringe
benefits of employees of Landlord, Landlord’s Affiliates’ and their respective contractors and
agents engaged in such repair, replacement, maintenance, operation and/or security, but excluding
personnel at or above the grade of building manager or equally held positions, and with respect to
employees who are not employed on a full-time basis with respect to the Building, or who are
employed with respect to properties other than the Building, such expenses to be allocated on a pro
rata basis; (ii) payroll taxes, worker’s compensation, uniforms and related expenses (whether
direct or indirect) for such employees; (iii) the cost of fuel, gas, steam, electricity, heat,
ventilation, air-conditioning and chilled or condenser water, water, sewer and other utilities,
together with any taxes and surcharges on, and fees paid in connection with the calculation and
billing of, such utilities; (iv) the cost of painting and/or decorating all areas of the Project;
(v) the cost of casualty, liability, fidelity, rent and all other insurance regarding the Project;
(vi) the cost of all supplies, tools, materials and equipment, whether by purchase or rental, used
in the repair, replacement, maintenance, management, operation and/or security of the Project, and
any sales and other taxes thereon; (vii) the rental value of Landlord’s Building office and any
other-premises in the Building utilized by the personnel of either Landlord, Landlord’s Affiliates
or Landlord’s contractors, in connection with the repair, replacement, maintenance, management,
operation and/or security thereof, and all office expenses, such as, without limitation, telephone,
utility, stationery and similar expenses incurred in connection therewith; (viii) the cost of
cleaning, janitorial and security services including, without limitation, glass cleaning, snow and
ice removal and garbage and waste collection and disposal; (ix) the cost of all interior and
exterior landscaping and all temporary exhibitions located at or within the Project; (x) the cost
of all alterations, repairs, replacements and/or improvements made at any time including the Base
Operating year by or on behalf of Landlord, whether structural or non structural, ordinary or
extraordinary, foreseen or unforeseen, and whether or not required by this Lease, and all tools and
equipment related thereto; provided, that if in accordance with generally

-20-

 

accepted accounting principles consistently applied (“GAAP”), any of the costs
referred to in this clause (x) are required to be capitalized, then such costs shall not be
included in Operating Expenses unless they (I) are required by any Laws enacted after the date
hereof; (II) have the effect of reducing expenses that would otherwise be included in Operating
Expenses, in which event such costs may be included in Operating Expenses to the extent of the
reasonably anticipated reduction in such expenses, (III) constitute a replacement which in
Landlord’s reasonable judgment is prudent to make in lieu of repairs to the replaced item(s) or
(IV) are depreciable in accordance with GAAP, in any of which events the cost thereof; together
with interest thereon at the greater of (A) the Interest Rate in effect on December 31 of the
Operating Year in which such costs were incurred or (B) the actual interest costs incurred by
Landlord to finance such alterations, repairs, replacements and/or improvements described in
clauses (I), (II), (III) and (IV) of this clause (x), shall
be amortized and included in Operating Expenses over the useful life of the item in question, as
reasonably determined by Landlord; (xi) management fees; (xii) all reasonable costs and expenses of
legal, bookkeeping, accounting and other professional services; (xiii) fees, dues and other
contributions paid by or on behalf of Landlord to real estate organizations and any assessments,
dues, levies or charges paid to any business improvement district (to the extent not included in
Taxes) or similar organization or to any entity on behalf of such an organization; and (xiv) all
other fees, costs, charges and expenses properly allocable to the repair, replacement, maintenance,
management, operation and/or security of the Project, in accordance with then prevailing customs
and practices of the real estate industry in the Borough of Manhattan, City of New York.
Notwithstanding the foregoing, Operating Expenses shall not include the following: (1)
depreciation and amortization (except with respect to the alterations, repairs, replacements and/or
improvements described in clauses (I), (II), (III) and (IV) of
clause (x) of this Section 2.05(d)); (2) principal and interest payments and other
costs incurred in connection with any financing or refinancing of the Project or any portion
thereof (except as provided in clause (x) above); (3) the cost of tenant improvements made
for tenant(s) of the Building, including permit, license and inspection fees with respect thereto;
(4) brokerage commissions, advertising and promotional expenses incurred in procuring tenants for
the Building; (5) the cost of any work or service performed for any tenant of the Building
(including Tenant), whether at the expense of Landlord or such tenant, to the extent that such work
or service is in excess of the work or service that Landlord is required to furnish Tenant under
this Lease at the expense of Landlord; (6) the cost of any electricity consumed in the Premises or
in any other space in the Building demised to tenants (which shall be deemed to be forty (40%)
percent of the total amount of electricity consumed in the entire Building); (7) Taxes; (8) legal
and professional fees and disbursements incurred in connection with the preparation or negotiation
of leases for tenants or in enforcing the terms of any lease; (9) any cost to the extent Landlord
is reimbursed therefor out of insurance proceeds (or would have been so reimbursed had Landlord
carried the insurance coverage required hereunder) or condemnation proceeds or otherwise (other
than by means of operating expense reimbursement provisions contained in the leases of other
Tenants); (10) any cost to perform the work described in Exhibit J; (11) the fees of any
appraiser or consultant incurred in negotiating leases for tenants; (12) capital improvements
(except as otherwise

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provided herein); (13) rent paid by Landlord under any Superior Lease (other than in the
nature of’ Taxes or Operating Expenses); (14) any fee or expenditure paid to any Affiliate of
Landlord or any general partner, officer above the rank of vice president, or member of any board
of directors of Landlord or of such Affiliate, or any person who is a relative by blood (to the
first degree of consanguinity, lineal or lateral) or marriage of any such person, in each case in
excess of the amount which would be paid in the absence of such relationship; (15) transactional
costs incurred with respect to a sale of all or any portion of the Building or any interest therein
(including, without limitation, transfer, sales, and/or gains taxes) or in connection with the
purchase or sale of any air or development or easement rights; (16) lease takeover costs incurred
by Landlord in connection with the entering into of leases in the Building and costs incurred by
Landlord to relocate tenants in the Building in order to consummate a specific lease or to
accommodate a specific tenant’s request; (17) a pro rata portion of any costs includable in
Operating Expenses that are incurred with respect to both the Building and other properties
(including, without limitation, salaries, fringe benefits and other incentive compensation of
Landlord’s personnel who provide services to both the Building and other properties) to the extent
properly allocable to such other properties; (18) costs relating to withdrawal liability or
unfunded pension liability under the Multi-Employer Pension Act or similar law; (19) any
compensation paid to clerks, attendants or other person in commercial concessions owned or operated
by Landlord or its Affiliates in the Building which are for services not supplied to tenants
generally in the Building as part of Operating Expenses; (20) the organizational costs associated
with the entity which constitutes the Landlord; (21) lease payments for rented equipment, to the
extent the cost of such equipment would constitute a capital expenditure not includable in
Operating Expenses if such equipment were purchased; (22) interest, fines, penalties and late
charges incurred by Landlord for late payment except to the extent the same shall be due to the act
or omission of Tenant; (23) the cost to purchase sculptures, paintings or other decorative items in
the Building in excess of $100,000 in any Operating Year; (24) expenses incurred solely for or on
behalf of retail tenants who do not receive building services; (25) costs incurred in constructing
additional stories on the Building; (26) the cost of any judgment, settlement or arbitration award
resulting from any tort liability of Landlord or constituting punitive damages; and (27) all costs
of remediating, removing or encapsulating asbestos, PCBs or other hazardous materials or substances
in or about the Project, except to the extent the same shall be attributable to any act or omission
of Tenant, Tenant’s agents, employees, contractors, invitees or licensees.

     (e) “Operating Year” means each calendar year in which occurs any part of the Term.

     (f) “Tenant’s Operating Share” means thirteen and two tenths percent (13.2%).

     (g) For each Operating Year, including the Operating Year in which the Commencement Date
occurs, Tenant shall pay (each, an “Operating Payment”)

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Tenant’s Operating Share of the amount, if any, by which Operating Expenses for such Operating
Year exceed the Base Operating Amount.

     (h) If during any relevant period (i) any rentable space in the Building above the ground
floor shall be unoccupied, and/or (ii) the tenant or occupant of any space in the Building above
the ground floor undertook to perform work or services in lieu of having Landlord perform the same
and the cost thereof would have been included in Operating Expenses, then, in any such event, the
amounts included in Operating Expenses for such period which vary based on occupancy shall be
increased to reflect the Operating Expenses that would have been incurred if such space had been
occupied or if Landlord had performed such work or services, as the case may be.

     (i) Landlord may furnish to Tenant, prior to the commencement of each Operating Year, a
statement setting forth Landlord’s estimate of the Operating Payment for such Operating Year.
Tenant shall pay to Landlord on the first day of each month during such Operating Year, an amount
equal to 1/12th of Landlord’s estimate of the Operating Payment for such Operating Year. If
Landlord shall not furnish any such estimate for an Operating Year or if Landlord shall furnish any
such estimate for an Operating Year subsequent to the commencement thereof, then (A) until the
first day of the month following the month in which such estimate is furnished to Tenant, Tenant
shall pay to Landlord on the first day of each month an amount equal to the monthly sum payable by
Tenant to Landlord under this Section 2.05 in respect of the last month of the preceding
Operating Year; (B) after such estimate is furnished to Tenant, Landlord shall notify Tenant
whether the installments of the Operating Payment previously made for such Operating Year were
greater or less than the installments of the Operating Payment to be made in accordance with such
estimate, and (x) if there is a deficiency, Tenant shall pay the amount thereof within 20 days
after demand therefor, or (y) if there is an overpayment. Landlord shall credit the amount thereof
against the next succeeding installments of the Operating Payment; and (C) on the first day of the
month following the month in which such estimate is furnished to Tenant and monthly thereafter
throughout such Operating Year Tenant shall pay to Landlord an amount equal to 1/12th of the
Operating Payment shown on such estimate. Landlord may, during each Operating Year, furnish to
Tenant a revised statement of Landlord’s estimate of the Operating Payment for such Operating Year,
and in such case, the Operating Payment for such Operating Year shall be adjusted and paid or
credited as the case may be, substantially in the same manner as provided in the preceding
sentence.

     (j) Landlord shall furnish to Tenant a Landlord’s Statement for each Operating Year (and shall
endeavor to do so within 180 days after the end of each Operating Year). If Landlord’s Statement
shall show that the sums paid by Tenant, if any, under Section 2.05(i) exceeded the
Operating Payment to be paid by Tenant for the applicable Operating Year, Landlord shall credit the
amount of such excess against the next succeeding installments of the Operating Payment; and if the
Landlord’s Statement shall show that the sums so paid by Tenant were less than the Operating
Payment to be

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paid by Tenant for such Operating Year, Tenant shall pay the amount of such deficiency within
20 days after demand therefor.

     (k) (i) Tenant, upon notice given within 60 days after Tenant’s receipt of a Landlord’s
Statement, may elect to have Tenant’s designated (in such notice) certified public accountant (or
other accounting professional who may be an employee of Tenant) examine copies of such of
Landlord’s books and records (collectively, “Records”) as are reasonably requested by such
certified public accountant and directly relevant to such Landlord’s Statement. As a condition to
Tenant’s right to review copies of such Records, Tenant shall pay all sums required to be paid in
accordance with the Landlord’s Statement in question. If Tenant shall not give such notice within
such 60 day period, then such Landlord’s Statement shall be conclusive and binding upon Tenant.
Tenant and Tenant’s employees, accountants and agents shall treat all Records as confidential, and,
upon request by Landlord, shall confirm such confidentiality obligation in writing.

          (ii) Tenant, within 90 days after the date on which the copies of the Records are made
available to Tenant, may send a notice (“Tenant’s Statement”) to Landlord that Tenant
disagrees with the applicable Landlord’s Statement, specifying in reasonable detail the basis for
Tenant’s disagreement and the amount of the Operating Payment Tenant claims is due. If Tenant
fails timely to deliver a Tenant’s Statement, then such Landlord’s Statement shall be conclusive
and binding on Tenant. Landlord and Tenant shall attempt to adjust such disagreement. If they are
unable to do so and provided that the amount of the Operating Payment Tenant claims is due is
substantially different (as defined below) from the amount of the Operating Payment Landlord claims
is due, Tenant shall notify Landlord, within 90 days after the date on which the copies of the
Records are made available to Tenant in connection with the disagreement in question, that Tenant
desires to have such disagreement determined by an Arbiter, and promptly thereafter Landlord and
Tenant shall designate a certified public accountant (the “Arbiter”) whose determination
made in accordance with this Section 2.05(k)(ii), shall be binding upon the parties; it
being understood that if the amount of the Operating Payment Tenant claims is due is not
substantially different from the amount of the Operating Payment Landlord claims is due, then
Tenant shall have no right to protest such amount and shall pay the amount that Landlord claims is
due to the extent not theretofore paid. If Tenant timely delivers a Tenant’s Statement, the
disagreement referenced therein is not resolved by the parties and Tenant fails to notify Landlord
of Tenant’s desire to have such disagreement determined by an Arbiter within the 90 day period set
forth in the preceding sentence, then the Landlord’s Statement to which such disagreement relates
shall be conclusive and binding on Tenant. If the determination of the Arbiter shall substantially
confirm the determination of Landlord, and not Tenant, then Tenant shall pay the cost of the
Arbiter. If the determination of the Arbiter shall substantially confirm the determination of
Tenant, and not Landlord, then Landlord shall pay the cost of the Arbiter. In all other events,
the cost of the Arbiter shall be borne equally by Landlord and Tenant. The Arbiter shall be a
certified public accountant having at least 10 years experience in commercial real estate matters
who is a member of an independent certified

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public accounting firm having at least 5 accounting professionals. If Landlord and Tenant
shall be unable to agree upon the designation of the Arbiter within 15 days after receipt of notice
from the other party requesting agreement as to the designation of the Arbiter, which notice shall
contain the names and addresses of two or more certified public accountants who are acceptable to
the party sending such notice, then either party shall have the right to request The Real Estate
Board of New York, Inc., or if such organization fails to act in accordance herewith or no longer
exists, the American Arbitration Association (or any organization which is the successor thereto)
(the “AAA”) to designate as the Arbiter a certified public accountant whose determination
made in accordance with this Section 2.05(k)(ii) shall be conclusive and binding upon the
parties, and the cost of such certified public accountant shall be borne as provided above in the
case of the Arbiter designated by Landlord and Tenant. Any determination made by an Arbiter shall
not exceed the amount determined to be due in the first instance by Landlord’s Statement, nor shall
such determination be less than the amount claimed to be due by Tenant in Tenant’s Statement, and
any determination which does not comply with the foregoing shall be null and void and not binding
on the parties. In rendering such determination such Arbiter shall not add to, subtract from or
otherwise modify the provisions of this Lease, including the immediately preceding sentence.
Pending the resolution of any contest pursuant to this Section 2.05(k)(ii) and as a
condition to Tenant’s right to prosecute such contest, Tenant shall pay all sums required to be
paid in accordance with the Landlord’s Statement in question. If Tenant shall prevail in such
contest, an appropriate credit shall be made by Landlord to Tenant. The term “substantially” as
used in this Section 2.05(k)(ii), shall mean a variance of 5% or more of the determination
of the Operating Payment in question.

     2.06. Tax and Operating Provisions. (a) In any case provided in Section 2.04 or
2.05 in which Tenant is entitled to a credit against the next succeeding installments of
Rent, if this Lease shall expire before any such credit shall have been fully applied, then
(provided Tenant is not in default in the payment of any Rent and no other Event of Default shall
have occurred and be continuing under this Lease) Landlord shall refund to Tenant the unapplied
balance of such credit. Nothing in this Article 2 shall be construed so as to result in a
decrease in the Fixed Rent.

     (b) Landlord’s failure to render or delay in rendering a Landlord’s Statement with respect to
any Operating Year or any component of the Operating Payment shall not prejudice Landlord’s right
to thereafter render a Landlord’s Statement with respect to any such Operating Year or any such
component, nor shall the rendering of a Landlord’s Statement for any Operating Year prejudice
Landlord’s right to thereafter render a corrected Landlord’s Statement with respect to any
Operating Year within 2 years following the end of such Operating Year, then Landlord shall be
deemed to have irrevocably waived its right to furnish a Landlord’s Statement with respect to such
Operating Year; provided, that if Landlord shall fail to furnish a Landlord’s Statement
with respect to any Operating Year within 2 years following the end of such Operating Year, then
Landlord shall be deemed to have irrevocably waived its right furnish a Landlord’s Statement with
respect to such Operating Year. Landlord’s failure to render

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or delay in rendering any statement with respect to any Tax Payment or installment thereof
shall not prejudice Landlord’s right to thereafter render such a statement, nor shall the rendering
of a statement for any Tax Payment or installment thereof prejudice Landlord’s right to thereafter
render a corrected statement therefor; provided, that if Landlord shall fail to furnish any
statement with respect to any Tax Payment within 2 years following the end of the Tax Year with
respect to which such Tax Payment is due, then Landlord shall be deemed to have irrevocably
waived its right furnish such statement with respect to such Tax Payment.

     (c) Landlord and Tenant confirm that the computations under this Article 2 are
intended to constitute a formula for agreed rental escalation and may or may not constitute an
actual reimbursement to Landlord for Taxes and other costs and expenses incurred by Landlord with
respect to the Project. If the Building shall be condominiumized, then Tenant’s Operating Payments
and Tax Payments shall, if necessary, be equitably adjusted such that Tenant shall thereafter
continue to pay the same share of the Taxes and Operating Expenses of the Building as Tenant would
pay in the absence of such condominiumization.

     (d) Each Tax Payment in respect of a Tax Year, and each Operating Payment in respect of an
Operating Year, which begins prior to the Commencement Date or ends after the expiration or earlier
termination of this Lease, and any tax refund pursuant to Section 2.04(f), shall be
prorated to correspond to that portion of such Tax Year or Operating Year occurring within the
Term.

     2.07. Electric Charges. (a) Tenant agrees to purchase from landlord or from a meter company
designated by Landlord all electricity consumed, used or to be used in the Premises. The amount to
be paid by Tenant for electricity consumed shall be determined by meter or meters and related
equipment installed by Landlord and billed in the aggregate according to each meter. Bills for
electricity consumed by Tenant shall be rendered by Landlord or the meter company to Tenant at such
time as Landlord may elect, and shall be payable by Tenant as an Additional Charge within twenty
(20) days after rendition of any such bill.

     (b) The amount to be charged to Tenant by Landlord for demand (KW) and usage (KWHR) pursuant
to this Section 2.07 for electricity consumed within the Premises, whether shown on the
meters measuring Tenant’s demand (KW) and usage (KWHR) of electricity or determined by survey as
otherwise provided in this Section 2.07, shall be 106% of the amount (as adjusted from time
to time, the “Electric Rate”) at which Landlord from time to time purchases each KW and
KWHR of electricity for the same period from the public utility company (including all surcharges,
taxes, fuel adjustments, taxes passed on to consumers by the public utility, and other sums payable
in respect thereof).

     (c) In the event that submetering of electricity in the Building is hereafter prohibited by
any Laws hereinafter enacted, by any order or ruling of the Public

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Service Commission of the State of New York, or by any judicial decision of any appropriate
court, or Landlord shall elect to discontinue furnishing electricity to Tenant pursuant to
Section 2.07(a) above (and shall concurrently elect to discontinue furnishing electricity
to the tenants under leases (including this Lease) which demise at least 75% of the occupied
rentable square footage of the Building), at the request of Landlord, Tenant shall (unless Landlord
elects to provide electricity pursuant to Section 2.07(d) hereof) apply within thirty (30)
days to the appropriate public utility company servicing the Building for direct electric service
and, if Landlord shall have been required by any Laws, any order or ruling of the Public Service
Commission or judicial decision to so discontinue furnishing electricity, bear all costs and
expenses necessary to comply with all rules and regulations of such public utility company
pertinent thereto (and if Landlord shall otherwise elect to discontinue furnishing electricity,
Landlord shall bear such costs and expenses). Upon the commencement of such direct service,
Landlord and/or the meter company designated by Landlord shall be relieved of any further
obligation to furnish electricity to Tenant pursuant to this Lease. To the extent available and
safely capable, Landlord shall permit its existing wires, conduits and electrical equipment to be
used for Tenant’s electric service. Any additional riser or risers, feeders or service to supply
Tenant’s electrical requirements will be installed by Landlord, at the sole cost and expense of
Tenant if Landlord shall have been required by any Laws, any order or ruling of the Public Service
Commission or judicial decision to so discontinue furnishing electricity (and otherwise at
Landlord’s cost and expense), if in Landlord’s reasonable judgment the same are reasonably feasible
to install, necessary to Tenant’s permitted use and operation of the Premises and the installation
or use thereof will not cause permanent damage or injury to the Building or the Premises, cause or
create a dangerous or hazardous condition or unreasonably interfere with or disturb other tenants
or occupants.

     (d) (i) If submetering of electricity is prohibited or elected to be discontinued by Landlord
as described in Section 2.07(c) above and Landlord elects to provide electricity pursuant
to this Section 2.07(d), then Landlord shall furnish electricity to Tenant and Tenant’s
demand (KW) and usage (KWHR) of electricity shall be measured by electric survey made from time to
time by Landlord’s consultant. Pending an initial survey made by Landlord’s consultant, effective
as of the date that submetering of electricity was no longer permitted or discontinued (such date
being the “Inclusion Date”), with suitable pro-ration for any period of less than a full
calendar month, the Fixed Rent shall be increased by an amount (the “Initial Charge”) which
shall be at the rate of $3.00 per rentable square foot per annum (or, if electric service was
charged on the basis of submetering for a period of at least twelve (12) months, the Initial Charge
shall be an amount equal to one-twelfth of the total electric charge for the twelve (12) month
period prior to the date submetering was terminated). After completion of an electrical survey
made by Landlord’s consultant of Tenant’s demand (KW) and usage (KWHR) of electricity, the
consultant shall apply 106% of the Electric Rate to arrive at an amount (the “Actual
Charge”) per rentable square foot per annum, and the annual Fixed Rent shall be increased by an
amount equal to the Actual Charge multiplied by the rentable square footage of the Premises,
effective as of the Inclusion Date. Tenant shall pay, within twenty (20) days after being billed
therefor, the amount, if any, by which the

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Actual Charge exceeds the Initial Charge with respect to the period to the date of the
determination of the Actual Charge. Tenant shall pay the Actual Charge in equal monthly
installments in the same manner and at the same time as Tenant is obligated to pay each monthly
installment of Fixed Rent. From time to time during the term of this Lease after this Section
2.07(d) shall apply, Landlord or Tenant may cause additional surveys of Tenant’s electrical
usage to be made by Landlord’s or Tenant’s consultant, as the case may be, and the cause of such
survey shall be at the expense of the party initiating such survey unless, in the case of a survey
initiated by Landlord, prior to such survey, Tenant added additional electrically operated
equipment which Landlord reasonably anticipates would increase Tenant’s consumption of electricity
by a material amount or increased its hours of operation in the Premises, in which case the cost of
such survey shall be paid by Tenant. In the event any of the foregoing surveys shall determine
that there has been an increase or decrease in Tenant’s demand or usage of electricity, then
effective as of the date of such change in demand or usage, the current Actual Charge to Tenant by
reason of the furnishing of electricity to Tenant, as same may have been previously increased
pursuant to the terms hereof, shall be increased or decreased (subject to the last sentence of
subparagraph (ii) below) in accordance with such survey determination with appropriate
credit allowed to Tenant in the event of a decrease in demand or usage, and in the event of an
increase in such demand or usage Tenant shall pay the increased amount therefor from the date of
such change in usage to the date of such survey determination, together with the cost of such
survey, within twenty (20) days after being billed therefor and thereafter as part of the increased
Actual Charge for electricity by reason of such survey determination.

          (ii) In the event from time to time after the initial survey or a subsequent survey additional
electrically operated equipment is installed in the Premises by Tenant, or if Tenant shall increase
its hours of operation, or if the charges by the utility company supplying electric current to
Landlord are increased or decreased after the date thereof, then and in any of such events, the
Actual Charge shall be increased or decreased accordingly on account of such additional demand or
usage of electricity by such newly installed electrically operated equipment and/or increase in
Tenant’s hours of operation and/or on account of such increased or decreased Electric Rate. The
amount of such increase or decrease in the Actual Charge shall be determined in the first instance
by Landlord’s consultant. In addition, the Actual Charge will be increased or decreased quarterly
in accordance with calculations by Landlord’s consultant to reflect changes in the fuel adjustment
component of the utility company charge. Tenant shall pay the amount of any increase in the Actual
Charge retroactively (subject to Tenant’s right to contest in the same manner as in Section
2.07(f) hereof) from the date of the installation of all newly installed electrically operated
equipment and/or from the date when the increased charges to Landlord from the utility company
becomes effective and/or from the date of any increase in Tenant’s hours of operation, as the case
may be, such amount to be paid within ten (10) days after being billed therefor.

     (e) All survey determinations (including the first survey made by Landlord’s or Tenant’s
consultant) shall be subject to contest by the other party as

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provided in Section 2.07(f) hereof. Surveys made of Tenant’s electrical demand and
usage shall be based upon the use of electricity during Business Hours, Mondays through Fridays, on
Saturdays and such other days and hours when Tenant, any subtenant(s), and their respective agents,
employees, invitees, licensees and/or contractors uses electricity for lighting and for the
operation of the machinery, appliances and equipment in the Premises; and if cleaning services are
provided by Landlord, such survey shall include Landlord’s normal cleaning hours of five (5) hours
per day (which shall not be subject to reduction) for lighting within the Premises and for
electrical equipment normally used for such cleaning.

     (f) In the event electricity shall be furnished to Tenant as contemplated in Section
2.07(d) hereof, then Tenant or Landlord, within ninety (90) days after notification from the
other of the determination of such party’s utility consultant (in accordance with the provisions of
Section 2.07(d) hereof), shall have the right, at the contesting party’s cost and expense,
to contest such determination by submitting to the other party a like survey determination prepared
by a utility consultant of such contesting party’s selection which will highlight the differences
between Landlord’s survey and Tenant’s survey. If the determination of the contesting party’s
consultant does not vary from the determination of the other party’s consultant by more than five
percent (5%), then the determination of the initial surveying party shall be deemed binding and
conclusive. If the determination of the contesting party’s consultant varies by more than five
percent (5%) and if Landlord’s consultant and Tenant’s consultant shall be unable to reach
agreement within thirty (30) days, then such two consultants shall designate a third consultant to
make the determination, and the determination of such third consultant shall be binding and
conclusive on both Landlord and Tenant. If the determination of such third consultant shall
substantially confirm the finding of Landlord’s consultant (i.e., within five (5%) percent), then
Tenant shall pay the cost of such third consultant. If such third consultant shall substantially
confirm the determination of Tenant’s consultant (i.e., within five percent (5%)), then Landlord
shall pay the cost of such third consultant. If such third consultant shall make a determination
substantially different from that of both Landlord’s and Tenant’s consultants (or is within five
percent (5%) of both such determinations), then the cost of such third consultant shall be borne
equally by Landlord and Tenant. In the event that Landlord’s consultant and Tenant’s consultant
shall be unable to agree upon the designation of a third consultant within thirty (30) days after
Tenant’s consultant shall have made its determination (substantially different from that of
Landlord’s consultant), then either party shall have the right to request The Real Estate Board of
New York, Inc. (or, upon their failure or refusal to act, the AAA) to designate a third consultant
whose decision shall be conclusive and binding upon the parties, and the costs of such third
consultant shall be borne as hereinbefore provided in the case of a third consultant designated by
Landlord’s and Tenant’s consultants. Pending the resolution of any contest pursuant to the terms
hereof, Tenant shall pay the Additional Charge on account of electricity determined by Landlord’s
consultant, and upon the resolution of such contest, appropriate adjustment in accordance with such
resolution of such Additional Charge payable by Tenant on account of electricity shall be made
retroactive to the date of the determination of Landlord’s consultant.

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     (g) If pursuant to any law, ruling, order or regulation the amount which Landlord is permitted
to charge to Tenant for the purchase of electricity pursuant to this Section 2.07 shall be
reduced below that which Landlord would otherwise be entitled to charge Tenant hereunder, then
Tenant shall pay the difference between such amounts, to Landlord as an Additional Charge within
twenty (20) days after being billed therefor by Landlord, as compensation for the use of the
Building’s electric distribution system.

     (h) Subject to Section 9.24, Landlord shall not in any way be liable or responsible to
Tenant for any losses, damages or expenses which Tenant may sustain or incur if (i) the supply of
electric energy to the Premises is temporarily interrupted or (ii) the quantity or character of
electric service is changed or is no longer available or suitable for Tenant’s requirements, except
to the extent resulting from Landlord’s willful misconduct or gross negligence.

     (i) Tenant shall contract with Landlord’s designated contractor who will furnish and install
all replacement lighting, tubes, lamps, bulbs and ballasts required in the Premises, and Tenant
shall pay to Landlord’s designated contractor upon demand its then established charges therefor.

     2.08. Manner of Payment. Tenant shall pay all Rent as the same shall become due and payable
under this Lease (a) in the case of Fixed Rent and recurring Additional Charges, by wire transfer
of immediately available federal funds as directed by Landlord, and (b) in the case of all other
sums, either by wire transfer as aforesaid or by check (subject to collection) drawn on a New York
Clearing House Association member bank, in each case at the limes provided herein without notice or
demand and without setoff deduction or counterclaim. All Rent shall be paid in lawful money of the
United States to Landlord at its office or such other place as Landlord may from time to time
designate. In addition to all other rights and remedies Landlord may have under this Lease, (i) if
any Rent is not paid within five (5) days after the due date therefor, Tenant shall pay to
Landlord, as Additional Charges, interest on all past due Rent from the date when such Rent became
due to the date of Landlord’s receipt thereof at the lesser of (A) 11/2% per month or (B) the maximum
rate permitted by law, and (ii) if any Rent is not paid within five (5) days after the due date
therefor two or more times within any twelve consecutive month period during the Term of this
Lease, including, without limitation, the failure to pay the foregoing interest charge on or before
the first day of the calendar month following the calendar month in which the failure to pay Rent
giving rise to such interest charge occurred, Tenant shall pay to Landlord, as Additional Charges,
In addition to the foregoing interest charge, an amount equal to 2 cents for each dollar overdue,
in each case in order to defray Landlord’s administrative and other costs in connection therewith.
Any Additional Charges for which no due date is specified in this Lease shall be due and payable on
the 20th day after the date of invoice. Except as otherwise provided in Section 2.05(k),
all bills, invoices and statements rendered to Tenant with respect to this Lease shall be binding
and conclusive on Tenant unless, within 90 days after receipt of same, Tenant notifies Landlord
that it is disputing same. Pending the

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resolution of any such dispute, Tenant shall pay Rent based upon Landlord’s determination.

     2.09. Security. (a) Tenant has delivered to Landlord, as security for the performance of
Tenant’s obligations under this Lease, either (i) the sum of $l,326,000.00, in certified or
official bank check (the “Security Deposit”), or (ii) an unconditional, irrevocable letter
of credit in the amount of $1,326,000.00 in a form and issued by a bank satisfactory to Landlord in
Landlord’s sole and absolute discretion (the “Letter of Credit”). The Letter of Credit
shall provide that it is assignable by Landlord without charge and shall either (A) expire on the
date which is 60 days after the expiration or earlier termination of this Lease (the “LC
Date”) or (B) be automatically self-renewing until the LC Date unless the issuing bank provides
Landlord at least 30 days prior written notice of non-renewal. If any Letter of Credit is not
renewed at least 30 days prior to the expiration thereof, Landlord may draw upon the Letter of
Credit and hold the proceeds thereof as security for the performance of Tenant’s obligations under
this Lease. Landlord may draw on the Security Deposit or Letter of Credit (or the proceeds
thereof) to remedy defaults by Tenant in the payment or performance of any of Tenant’s obligations
under this Lease. If Landlord shall have so drawn upon the Security Deposit or the Letter of
Credit (or the proceeds thereof), Tenant shall upon demand deposit with Landlord a sum equal to the
amount so drawn by Landlord.

     (b) Provided Tenant is not in default under this Lease and Tenant has surrendered the Premises
to Landlord in the condition required by the provisions of this Lease: (i) Landlord shall return to
Tenant the Security Deposit or Letter of Credit (or the proceeds thereof) then held by Landlord or
(ii) if Landlord shall have drawn upon such Security Deposit or Letter of Credit (or the proceeds
thereof) to remedy defaults by Tenant in the payment or performance of any of Tenant’s obligations
under this Lease, Landlord shall return to Tenant that portion, if any, of such Security Deposit or
the proceeds of the Letter of Credit remaining in Landlord’s possession and, in either such case,
such return shall be made within thirty (30) days after all defaults have been fully cured and
Tenant shall have so surrendered the Premises.

     (c) (i) Notwithstanding anything to the contrary contained in Section 2.09(a) and
Section 2.09(b), but subject to the provisions of this Section 2.09(c), if, at any
time after the 1st anniversary of Base Space Rent Commencement Date, Tenant has timely paid all
rent required to be paid hereunder for a period of twelve consecutive months (the “Rent
Period”), then Tenant shall be entitled to request, by written notice (a “Security
Reduction Notice”) to Landlord satisfying all of the requirements of Section
2.09(c)(ii), that the Security Deposit or the Letter of Credit be reduced to an amount equal to
three months of the then escalated Fixed Rent payable pursuant to this Lease.

          (ii) The Security Reduction Notice shall (A) refer to this Section 2.09(c), (B) contain
an affirmative statement by Tenant that as of the date of the Security Reduction Notice Tenant has
satisfied all of the conditions required to be satisfied pursuant to this Section 2.09(c),
and (C) be accompanied by Tenant’s audited

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financial statements prepared in accordance with GAAP by Tenant’s independent certified public
accountants for the fiscal year of Tenant which ends immediately prior to the end of the Rent
Period, and showing Tenant’s net worth to be at least $50,000,000.00 and Tenant’s pre-tax net
income to be at least $10,000,000.00. Notwithstanding the foregoing, in connection with a Security
Reduction Notice relating to a Rent Period commencing on the Base Space Rent Commencement Date,
Tenant shall be entitled to use its audited financial statements for the fiscal year ending
December 31, 1999; provided, that such financial statements are accompanied by a statement
by Tenant’s chief financial officer certifying that as of the date of such Security Reduction
Notice there has been no material adverse change in Tenant’s financial condition since December 31,
1999. Within 30 days after Landlord’s receipt of a Security Reduction Notice satisfying all of the
requirements of this Section 2.09(c)(ii), Landlord shall reduce the Security Deposit, or
notify Tenant in writing that the Letter of Credit may reduced, as the case may be, to an amount
equal to three months of the then escalated Fixed Rent set forth in Section 2.02 (the date
on which the Security Deposit or the Letter of Credit may be reduced, a “Reduction Date”).
Landlord shall cooperate with Tenant in all reasonable respects in order to facilitate the
amendment or replacement of the Letter of Credit to reflect such reduction.

          (iii) For each and every fiscal year of Tenant during the Term of this Lease following the
occurrence of any Security Reduction Date, including the year in which any Security Reduction Date
occurs, Tenant shall deliver to Landlord within ninety (90) days following the end of such fiscal
year, Tenant’s audited financial statements prepared in accordance with GAAP by Tenant’s
independent certified public accountants. If (A) Tenant’s net worth as shown on such financial
statements shall be less than $50,000,000, or (B) Tenant’s pre-tax net income as shown on such
financial statements shall be less than $10,000,000, then Tenant shall immediately deposit with
Landlord either (A) cash or (B) a supplemental or a new letter of credit meeting the same
requirements Set forth in Section 2.09(a), each in an amount such that the total amount of
cash or of all letters of credit issued on behalf of Tenant, as the case may be, and then held by
Landlord pursuant to this Section 2.09 shall not be less than an amount equal to eight
months of the then escalated Fixed Rent payable pursuant to this Lease.

          (iv) Notwithstanding the provisions of Section 2.09(c)(ii), if on any Reduction Date,
Tenant shall be in default in the payment of any Rent or any other Event of Default has occurred
and is continuing, then the Security Deposit or Letter of Credit shall not be reduced on such
Reduction Date and shall remain in the amount required immediately prior to such Reduction Date
until Tenant has cured each such default and Event of Default, at which time Tenant shall again
have the right to deliver a Security Reduction Notice as provided herein.

          (v) If at any time the Security Deposit shall be in cash, Landlord shall invest the Security
Deposit in accordance with reasonable investment instructions received from Tenant from time to
time, which investment instructions may only direct the investment of the Security Deposit in cash
equivalent investments or in

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United States Treasury obligations having maturities not longer than three (3) months;
provided that Tenant shall pay to Landlord the amount of any fees charged to Landlord for any such
investment. Provided that no monetary default or Event of Default has occurred and is continuing,
any interest earned on the cash Security Deposit shall be paid annually to Tenant.

ARTICLE 3.

LANDLORD COVENANTS

     3.01. Landlord Services. (a) From and after the Commencement Date (or in the case of
cleaning services, the date that Tenant first occupies the Premises for the conduct of Tenant’s
business), Landlord shall furnish Tenant with the following services (collectively, “Landlord
Services”):

          (i) heat, ventilation and air-conditioning to the Premises during Business Hours on Business
Days and during the hours from 8:00 a.m. to 1:00 p.m. on Saturdays substantially in accordance with
the design specifications set forth in Exhibit D attached hereto, if Tenant shall require
heat, ventilation or air conditioning services at any other times, Landlord shall furnish such
services at the rate of $150 for heat and $200 for ventilation or air-conditioning per hour of
service to Tenant at Tenant’s expense, subject to increase from time to time in amounts equal to
the actual increase in Landlord’s cost of providing such services; provided, that if
Landlord simultaneously furnishes such services to another Building tenant or tenants whose
Premises are in the same zone of the HVAC system as the Premises, the cost thereof shall be
prorated between or among Tenant and such tenant or tenants, based upon the ratio which Tenant and
each such other tenant(s) rentable square footage within such zone bears to the total rentable
square footage within such zone of Tenant and such other tenant(s); within 20 days after receipt of
Landlord, as Additional Charges, any amount due to Landlord pursuant to the terms of this
Section 3.01(a)(i);

          (ii) steam, if required by Tenant for any additional heating or permitted kitchen use, in
which event Tenant shall pay to Landlord the cost of such steam as hereinafter provided as well as
the cost of any additional piping and other equipment or facilities required to supply steam to and
distribute steam within the Premises; Landlord may install and maintain, at Tenant’s expense,
meters to measure Tenant’s consumption of steam and Tenant shall reimburse Landlord for the
quantities of steam shown on such meters and 106% of Landlord’s actual cost from time to time for
the production or purchase of such steam, within 20 days after receipt of Landlord’s demand
therefor;

          (iii) (A) passenger elevator service to each floor of the Premises at all times during
business hours on Business Days, with at least one passenger elevator subject to call at all other
times and (B) freight elevator service to the Premises on a first come-first served basis (i.e., no
advance scheduling) during Business ours on Business Days, and on a reserved basis at all other
times upon the payment, with respect to

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non-business Hours on non-Business Days, at the rate of $161.71 per hour (with a four (4) hour
minimum for weekend service), subject to increase from time to time in an amount equal to the
actual increases in Landlord’s cost of providing such freight elevator service; provided,
that in connection with Tenant’s initial move into the Premises, Landlord shall provide Tenant with
eight (8) hours of freight elevator service free of charge, to be used by Tenant during
non-Business Hours and on non-Business Days and otherwise in accordance with Landlord’s rules and
regulations covering freight elevator service; the use of all elevators shall be on a nonexclusive
basis;

          (iv) reasonable quantities of hot and cold water to the floor(s) on which the Premises are
located for core lavatory and cleaning purposes only; if Tenant requires water for any other
purpose, Landlord shall furnish cold water at the Building core riser through a capped outlet
located on the floor on which the Premises is located (within the core of the Building), and the
cost of heating such water, as well as the actual cost of any additional piping and supplying such
water to the Premises, shall be paid by Tenant; Landlord may install and maintain, at Tenant’s
expense, meters to measure Tenant’s consumption of cold water and/or hot water for such other
purposes (but not with respect to Tenant’s consumption of cold water and/or hot water for the
so-called “convenience areas” referenced in Section 1.04 where the preparation of food or
beverages is limited to the use of microwave ovens and coffee machines) in which event Tenant shall
reimburse Landlord for the quantities of cold water and hot water shown on such meters (including
Landlord’s standard charge for the production of such hot water, if produced by Landlord), on
demand;

          (v) electrical capacity of not less than six (6) watts, demand load, per rentable square foot
contained in the Premises (exclusive of the electrical consumption of the base Building HVAC system
and any other base Building system); such electrica1 capacity shall be supplied via the Building
distribution system and shall be available at the electrical closet on the floor of the Building on
which the Premises is located (it being understood that Tenant shall be responsible for bringing
such electrical capacity from the electrical closet to the Premises); in no event shall Tenant’s
consumption of electricity exceed the capacity of existing feeders to the Building or the risers or
wiring serving the Premises; and

          (vi) cleaning services in accordance with Exhibit E attached hereto. Landlord shall
not be required to perform any (A) cleaning work in the Premises required because of (w)
carelessness, indifference, misuse or neglect on the part of Tenant, its subtenants or their
respective employees or visitors, (x) interior glass partitions or an unusual quantity of interior
glass surfaces, (y) non-building standard materials or finishes installed in the Premises which
require special cleaning and/or (z) the use of the Premises other than during Business Hours on
Business Days and/or (B) removal from the Premises and the Building of any refuse of Tenant (x) in
excess of that ordinarily accumulated in business office occupancy and which is disposed of in a
standard office desk trash receptacle, including, without limitation, kitchen refuse and/or (y) at
times other than Landlord’s standard cleaning times. Notwithstanding the

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foregoing, Landlord shall not be required to clean any portions of the Premises used for
preparation, serving or consumption of food or beverages, training rooms, private lavatories or
toilets or other special purposes requiring greater or more difficult cleaning work than office
areas and Tenant shall (A) retain Landlord’s cleaning contractor, at commercially reasonable rates,
to perform such cleaning at Tenant’s expense or (B) perform such cleaning with its own employees
who are employed for cleaning purposes. Landlord’s cleaning contractor shall have access to the
Premises after 6:00 p.m. and before 8:00 a.m. and shall have the right to use, without charge
therefore, all light, power and water in the Premises reasonably required to clean the Premises.

     (b) Landlord may stop or interrupt any Landlord Service, electricity, or other service and may
stop or interrupt the use of any Building facilities and systems at such times as may be necessary
and for as long as may reasonably be required by reason of accidents, strikes, or the making of
repairs, alterations or improvements, or inability (other than Landlord’s financial inability) to
secure a proper supply of fuel, gas, steam, water, electricity, labor or supplies, or by reason of
any other cause beyond the reasonable control of Landlord. Landlord shall have no liability to
Tenant by reason of any stoppage or interruption of any Landlord Service, electricity or other
service or the use of any Building facilities and systems for any reason. Landlord shall use
reasonable diligence (which, except in the case of an emergency, shall not include incurring
overtime charges, unless Tenant agrees to reimburse Landlord for such overtime charges) to make
such repairs as may be required to machinery or equipment within the Project to provide restoration
of any Landlord Service and, where the cessation or interruption of such Landlord Service has
occurred due to circumstances or conditions beyond the Project boundaries, to cause the same to be
restored by diligent application or request to the provider.

     (c) Without limiting any of Landlord’s other rights and remedies, if Tenant shall be in
default beyond any applicable grace period, Landlord shall not be obligated to furnish to the
Premises any service outside of Business Hours on Business Days, and Landlord shall have no
liability to Tenant by reason of any failure to provide, or discontinuance of, any such service.

     (d) Except as expressly provided in this Article 3, Landlord shall not be required to
provide any services or utilities to the Premises.

     (e) “Business Hours” means 8:00 a.m. to 7:00 p.m. “Business Days” means all
days except Saturday, Sundays, holidays and any other days which are either (i) observed by both
the federal and the state governments as legal holidays or (ii) designated as a holiday by the
applicable Building Service Union Employee Service contract or Operating Engineers contract.

     (f) “Tenant Manual” means the Alteration Rules and Regulations attached hereto as
Exhibit C, as the same may be modified or amended from time to time.

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If there is any conflict between the provisions of the Tenant Manual and the provisions of
this Lease, the provisions of this Lease will control.

     (g) Subject to the terms and provisions of this Lease, Tenant shall have access to the
Premises 24 hours a day, 7 days a week, 52 weeks a year.

     (h) (i) Tenant, at its sole cost and expense, shall have the right to install in the Demised
Premises a water-cooled supplemental air-conditioning unit, and all appurtenant pumps, piping and
equipment, including heating coils (collectively, “Tenant’s Supplemental HVAC Equipment”),
with an aggregate demand limited to 20 tons per floor of the Premises (the “Maximum
Tonnage”) (provided, that only 10 tons per floor of the Premises shall be available to
Tenant during Business Hours on Business Days), to be distributed in the Premises by Tenant, at
Tenant’s sole cost and expense, in such manner as Tenant may elect. Tenant, at its sole cost and
expense, shall obtain and maintain all permits, certificates and approvals from any governmental
authority having jurisdiction which are required in connection with the existence and operation of
Tenant’s Supplemental HVAC Equipment. If (x) applicable law requires that Tenant’s Supplemental
HVAC Equipment be operated in the presence of an operating engineer in addition to any operating
engineer already employed in the Building by Landlord, or (y) from time to time applicable law does
not require the presence of an operating engineer for the operation of the HVAC equipment serving
the Building (including any supplemental HVAC equipment installed and operated by or for any
tenant(s) of the Building) (the “Existing HVAC Equipment”), but the addition of Tenant’s
Supplemental HVAC Equipment to the Existing HVAC Equipment requires that Landlord under then
applicable law retain an operating engineer, then and in any of such events, Tenant, within twenty
(20) days after its receipt of a demand therefor, shall pay the actual cost of any operating
engineer required by applicable law in connection with the operation of Tenant’s Supplemental HVAC
Equipment. In the case of subclause (y) above, if such operating engineer shall simultaneously be
required for the operation of supplemental HVAC equipment servicing other tenants, then the cost of
such operating engineer shall be equitably apportioned between Tenant and such other tenant(s).

          (ii) If Tenant shall install Tenant’s Supplemental HVAC Equipment in the Demised Premises, then
24 hours a day, 7 days a week, Landlord shall supply an amount not to exceed the Maximum Tonnage of
condenser water (depending upon Tenant’s demand therefor at that time) for Tenant’s Supplemental
HVAC Equipment (the “Supplemental Condenser Water”). If Tenant shall install Supplemental
HVAC Equipment in the Demised Premises, Tenant shall pay to Landlord a one-time tap-in fee in an
amount equal to the product of (A) the Maximum Tonnage per floor of the Premises multiplied by (B)
the number of floors in the Premises multiplied by (C) $2,000, as Additional Charges. Tenant shall
pay to Landlord for the Supplemental Condenser Water, as Additional Charges, an amount equal to
$100 per ton hour per annum for each ton of installed capacity available to Tenant pursuant to
Section 3.01(h)(i), as such rate may be increased from time to time in an amount equal to
the actual increases in Landlord’s costs. Landlord shall furnish a bill to Tenant for the

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one-time tap-in fee and once a year for the per tonnage charge, and Tenant shall pay each such
bill within 20 days after its receipt thereof.

     (i) To the extent practicable in Landlord’s reasonable judgment, Tenant may, at Tenant’s sole
cost and expense (including, without limitation, the cost of installing and maintaining additional
meters and other equipment and any engineering costs), in a location in the Building to be
reasonably selected by Landlord and reasonably acceptable to Tenant, install a riser to connect the
Building’s existing electrical service gear to Tenant’s Supplemental HVAC Equipment. Landlord and
Tenant agree to cooperate with each other in connection with the provisions of this Section
3.01(i).

     3.02. Additional Electrical Power and Equipment. (a) If Tenant requests electricity in
addition to that to be supplied by Landlord pursuant to Section 3.01(a)(v), and if and to
the extent such additional electricity is available to the Building for use by Landlord, then,
subject to the provisions of Section 3.02(c) below, as soon as reasonably practicable
following Tenant’s written request therefor, Landlord, at Tenant’s sole cost and expense, shall
provide such additional electricity to the Premises; provided, however, that (i) at
the time of Tenant’s request therefor and at the time of making such additional electricity
available, Tenant shall not be in default in the payment of any Rent and no other Event of Default
shall have occurred and be continuing, (ii) except as set forth in Section 3.02(b),
Landlord shall in all events be entitled to reserve such amounts of existing electrical capacity
available through the existing Building systems for use by Landlord as it shall reasonably deem
necessary to meet the requirements of present and future tenants of the Building (“Basic Tenant
Requirements”), and Landlord need only make available to Tenant any electrical capacity in
excess of the Basic Tenant Requirements and (iii) Landlord shall not be required to allocate to
Tenant more than a commercially reasonable proportion of the electrical capacity available to the
Building for use by Landlord, as determined by Landlord.

     (b) If (i) Tenant requests electricity in addition to that to be supplied by Landlord pursuant
to Section 3.01(a)(v), (ii) Landlord would not be required to provide such additional
electrical capacity due to Landlord’s desire to reserve such amounts of additional electrical
capacity pursuant to Section 3.02(a) and (iii) because of the additional capacity then
available to Landlord which is being reserved as provided in Section 3.02(a), the public
utility company shall not provide additional electricity to the Building to meet Tenant’s
additional requirements, then, provided that Tenant shall not be in default in the payment of any
Rent and no other Event of Default shall have occurred and be continuing and there is no lease
which has been executed or which Landlord reasonably anticipates will be executed in the next
succeeding six (6) month period which would require the use of the additional electric capacity
being requested by Tenant, and subject to the provisions of Section 3.02(c) below, as soon
as reasonably practicable following Tenant’s written request therefor, Landlord shall provide such
additional electricity to the Premises, and Tenant agrees to pay Landlord the costs and expenses
incurred by Landlord in connection therewith; provided, that if Landlord shall thereafter
require all or any portion of such additional electrical capacity so made

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available to Tenant pursuant to this Section 3.02(b) to meet the Basic Tenant
Requirements, then the provisions of Section 3.02(c) shall apply in connection with
Landlord’s installation of Additional Electricity Equipment to meet the Basic Tenant Requirements
and Tenant shall pay the full amount thereof as Additional Charges within 20 days after demand (or,
if additional electrical capacity will not be provided by the public utility or is otherwise not
available for any reason or any of the circumstances described in subclauses (i) through
(v) of Section 3.02(c) would otherwise render Landlord not obligated to provide such
additional electric capacity, Tenant shall cease using the additional electrical capacity so
provided to Tenant pursuant to this Section 3.02(b) and, at Tenant’s sole cost and expense,
make same available to Landlord promptly upon Landlord’s request therefor).

     (c) Notwithstanding anything to the contrary contained in this Section 3.02, if, in
Landlord’s sole but good faith judgment, the additional electricity requested by Tenant pursuant to
this Section 3.02 cannot reasonably be provided to the Premises unless additional risers,
conduits, feeders, wiring, cables, transformers, switches, switchboards and/or other electrical
equipment or installations (collectively, the “Additional Electricity Equipment”) are
installed in the Premises or the Building, then Landlord shall so notify Tenant, and Landlord shall
have no obligation to provide such additional electricity to the Premises unless (x) Tenant agrees
to pay all costs and expenses for the design and installation of the same and (y) the installation
of such Additional Electricity Equipment and the use thereof (i) shall not cause permanent damage
to the Building or the Premises, (ii) shall not create a dangerous condition or entail unreasonable
alterations or unreasonably interfere with or unreasonably disturb other tenants of the Building
(including interference with the distribution of electricity systems in the Building), (iii) shall
not increase the premiums for any casualty insurance policy covering the Building unless Tenant
agrees to pay for such increase, (iv) shall be allowed by the utility company servicing the
Building and (v) shall comply with applicable Laws. Tenant shall pay, as Additional Charges, all
costs and expenses incurred or to be incurred by Landlord in connection with such Additional
Electricity Equipment within 20 days after demand therefor.

ARTICLE 4.

ALTERATIONS; TENANT COVENANTS

     4.01. Alterations. (a) Tenant shall make no improvements, changes or alterations in or to
the Premises (“Alterations”) without Landlord’s prior approval. Landlord shall not
unreasonably withhold its approval to any Alteration.

     (b) Tenant, in connection with any Alteration, shall comply with the Alteration Rules and
Regulations set forth in the Tenant Manual. Other than with respect to purely decorative painting,
wall-covering and finish work which does not require the preparation and filing of plans to obtain
a building permit, Tenant shall not proceed with any Alteration unless and until Landlord approves
Tenant’s plans and specifications therefor. Any review or approval by Landlord of plans and
specifications with respect to

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any Alteration is solely for Landlord’s benefit, and without any representation or warranty to
Tenant with respect to the adequacy, correctness or efficiency thereof, its compliance with Laws or
otherwise. In any instance in which Landlord’s approval shall be required with respect to the
performance of any Alterations, Landlord agrees that Landlord shall, within ten (10) Business Days
following receipt of complete and coordinated final Tenant’s plans for the performance of such
Alterations, advise Tenant of Landlord’s approval or disapproval of such plans or any part thereof.
If Landlord shall fail to approve or disapprove Tenant’s plans or any part thereof within such 10
Business Day period, and such failure shall continue for a period of two (2) Business Days after
notice from Tenant stating in bold typeface that Landlord has failed to so approve or disapprove
Tenant’s plans and that failure to approve or disapprove of Tenant’s plans within such 2-Business
Day period shall be deemed approval thereof. Landlord shall be deemed to have approved such plans.
If Landlord shall disapprove such plans (or any part thereof), Landlord shall set forth its
reasons for such disapproval in writing and in reasonable detail.

     (c) Tenant shall pay to Landlord upon demand Landlord’s out-of-pocket costs and expenses
(including, without limitation, the fees of any architect, engineer, consultant or agent employed
by Landlord or any Superior Lessor or Superior Mortgagee for such purpose) for reviewing plans and
specifications and inspecting Alterations (i) up to a maximum amount of $0.50 per rentable square
foot contained in the Premises in the case of Tenant’s initial Alterations, (ii) up to a maximum
amount of $0.50 per rentable square foot of the affected area of the Premises in the case of any
subsequent Alterations having a cost of $100,000 or more, and (iii) up to a maximum amount of
$1,500 in the case of any such subsequent Alterations having a cost of less than $100,000.

     (d) Before proceeding with any Alteration (other than Tenant’s initial Alterations) that will
cost more than (1) $250,000, if Tenant is then leasing three or more whole floors in the Building
or (2) $100,000, if Tenant Is then leasing less than three whole floors in the Building (in each
case exclusive of the costs of decorating work and items constituting Tenant’s Property), as
estimated by a reputable contractor designated by Landlord, Tenant shall furnish to Landlord one of
the following (as selected by Landlord): (i) a cash deposit, (ii) a performance bond and a labor
and materials payment bond (issued by a corporate surety licensed to do business in New York
reasonably satisfactory to Landlord) or (iii) an irrevocable, unconditional, negotiable letter of
credit, issued by a bank and in a form satisfactory to Landlord; each to be equal to 110% of the
cost of the Alteration, estimated as set forth above. Any such letter of credit shall be for one
year and shall be renewed by Tenant each and every year until the Alteration in question is
completed and shall be delivered to Landlord not less than 30 days prior to the expiration of the
then current letter of credit, failing which Landlord may present the then current letter of credit
for payment and hold the proceeds thereof as a cash deposit. Upon (A) the completion of the
Alteration in accordance with the terms of this Section 4.01 and (B) the submission to
Landlord of (x) proof evidencing the payment in full for said Alteration, (y) written unconditional
lien waivers of mechanics’ liens and other liens on

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the Project from all contractors performing said Alteration and (z) all submissions required
pursuant to Exhibit C attached hereto, the security deposited with Landlord (or the balance
of the proceeds thereof, if Landlord has drawn on the same) shall be returned to Tenant;
provided, that if Tenant shall be diligently prosecuting the resolution of a dispute in
good faith with any contractor who performed any portion of said Alteration, and shall furnish to
Landlord evidence of the same, then, subject to compliance with the other provisions of this
sentence, the security deposited with Landlord (or the balance of the proceeds thereof, if Landlord
has drawn on the same) shall be returned to Tenant less an amount equal to 125% of the
amount in dispute. Upon Tenant’s failure properly to perform, complete and/or fully pay for any
Alteration, as determined by Landlord, Landlord may, upon 5 days prior notice to Tenant (except in
the case of any emergency, in which case Landlord shall not be required to provide such prior
notice to Tenant), draw on the security deposited under this Section 4.01(d) to the extent
Landlord deems necessary in connection with Tenant’s failure to pay for said Alteration, the
restoration and/or protection of the Premises or the Project and the payment of any costs, damages
or expenses resulting therefrom.

     (e) Tenant shall obtain (and furnish copies to Landlord of) all necessary governmental permits
and certificates for the commencement and prosecution of Alterations and for final approval thereof
upon completion, and shall cause Alterations to be performed in compliance therewith, and in
compliance with all Laws and with the plans and specifications approved by Landlord. In connection
with Tenant’s obtaining all such governmental permits and certificates or such final approval,
Landlord shall cooperate with Tenant to the extent reasonably requested by Tenant or to the extent
required by applicable Laws; provided, that Tenant shall reimburse Landlord for any
expenses incurred in such cooperation, as Additional Charges, within twenty (20) days after demand
and Landlord shall have no liability to Tenant or otherwise in connection with Tenant’s failure to
obtain such permits, certificates or approval. Alterations shall be diligently performed in a good
and workmanlike manner, using new materials and equipment at least equal in quality and class to
the then standards for the Building established by Landlord. Alterations shall be performed by
contractors, engineers, architects and consultants approved by Landlord (which approval shall not
be unreasonably withheld or delayed), and who are harmonious and compatible with the contractors
and labor employed by Landlord or otherwise working in the Building; provided, that any
Alterations that would affect the “Class E”, mechanical or electrical systems of the base Building
shall be performed only by the contractor(s) designated by Landlord. The performance of any
Alteration shall not be done in a manner which would violate Landlord’s union contracts affecting
the Project, or create any work stoppage, picketing, labor disruption, disharmony or dispute or any
interference with the business of Landlord or any tenant or occupant of the Building. Tenant shall
immediately stop the performance of any Alteration if Landlord notifies Tenant that continuing such
Alteration would violate Landlord’s union contracts affecting the Project, or create any work
stoppage, picketing, labor disruption, disharmony or dispute or any interference with the business
of Landlord or any tenant or occupant of the Building.

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     (f) Throughout the performance of Alterations, Tenant shall carry worker’s compensation
insurance in statutory limits, “all risk” Builders Risk coverage and general liability insurance,
with completed operation endorsement, for any occurrence in or about the Project, under which
Landlord and its agent and any Superior Lessor and Superior Mortgagee whose name and address have
been furnished to Tenant shall be named as parties insured, in such limits as Landlord may
reasonably require, with insurers reasonably satisfactory to Landlord. Tenant shall furnish
Landlord with evidence that such insurance is in effect at or before the commencement of
Alterations and, on request, at reasonable intervals thereafter during the continuance of
Alterations,

     (g) Should any mechanics’ or other liens be filed against any portion of the Project by reason
of the acts or omissions of, or because of a claim against, Tenant or anyone claiming under or
through Tenant, Tenant shall cause the same to be canceled or discharged of record by bond or
otherwise within 30 days after notice from Landlord. If Tenant shall fail to cancel or discharge
said lien or liens within said 30 day period, Landlord may cancel or discharge the same and, upon
Landlord’s demand, Tenant shall reimburse Landlord for all costs incurred in canceling or
discharging such liens, together with interest thereon at the interest Rate from the date incurred
by Landlord to the date of payment by Tenant, such reimbursement to be made within 20 days after
receipt by Tenant of a written statement from Landlord as to the amount of such costs. Tenant
shall indemnify and hold Landlord harmless from and against all costs (including, without
limitation, reasonable attorneys’ fees and disbursements and costs of suit), losses, liabilities or
causes of action arising out of or relating to any Alteration, including, without limitation, any
mechanics’ or other liens asserted in connection with such Alteration.

     (h) Tenant shall deliver to Landlord, within 30 days alter the completion of an Alteration,
“as-built” drawings thereof. During the Term and for a period of 3 years commencing on the
Expiration Date, Tenant shall keep records of Alterations costing in excess of $5,000 including
plans and specifications, copies of contracts, invoices, evidence of payment and all other records
customarily maintained in the real estate business relating to Alterations and the cost thereof and
shall, within 30 days after demand by Landlord, furnish to Landlord copies of such records.

     (i) All Alterations to and Fixtures installed by Tenant in the Premises shall be fully paid
for by Tenant in cash and shall not be subject to conditional bills of sale, chattel mortgages, or
other title retention agreements.

     4.02. Landlord’s and Tenant’s Property. (a) All fixtures, equipment, improvements and
appurtenances attached to or built into the Premises, whether or not at the expense of Tenant
(collectively, “Fixtures”), shall be and remain a part of the Premises and shall not be
removed by Tenant; provided, that in connection with any Alterations, Tenant may
temporarily remove such equipment or other property so long as Tenant shall perform and complete
such Alteration in accordance with the provisions of this Lease. All Fixtures constituting
Improvements and Betterments shall be the property

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of Tenant during the Term and, upon expiration or earlier termination of this Lease, shall
become the property of Landlord. All Fixtures other than Improvements and Betterments shall, upon
installation, be the property of Landlord. “Improvements and Betterments” means (i) all
Fixtures, if any, installed at the expense of Tenant, whether installed by Tenant or by Landlord
(i.e., excluding any Fixtures paid for by Landlord directly or by way of an allowance) and (ii) all
carpeting in the Premises.

     (b) All movable partitions, business and trade fixtures, machinery and equipment, and all
furniture, furnishings and other articles of movable personal property owned by Tenant and located
in the Premises (collectively, “Tenant’s Property”) shall be and shall remain the property
of Tenant and may be removed by Tenant at any time during the Term; provided, that if any
Tenant’s Property is removed, Tenant shall repair any damage to the Premises or to the Building
resulting from the installation and/or removal thereof. Notwithstanding the foregoing, any
equipment or other property identified in this Lease or in any leasehold improvement agreement as
having been paid for with any allowance or credit granted by Landlord to Tenant shall not be
considered Tenant’s Property and shall be and remain a part of the Premises, shall, upon the
expiration or earlier termination of this Lease, be the property of Landlord and shall not be
removed by Tenant; provided, that in connection with any Alterations, Tenant may
temporarily remove such equipment or other property so long as Tenant shall perform and complete
such Alteration in accordance with the provisions of this Lease.

     (c) At or before the Expiration Date, or within 15 days after any earlier termination of this
Lease, Tenant, at Tenant’s expense, shall remove Tenant’s Property from the Premises (except such
items thereof as Landlord shall have expressly permitted to remain, which shall become the property
of Landlord), and Tenant shall repair any damage to the Premises or the Building resulting from any
installation and/or removal of Tenant’s Property. Any items of Tenant’s Property which remain in
the Premises after the Expiration Date, or more than 15 days after an earlier termination of this
Lease, may, at the option of Landlord, be deemed to have been abandoned, and may be retained by
Landlord as its property or disposed of by Landlord, without accountability, in such manner as
Landlord shall determine, at Tenant’s expense.

     (d) Landlord, by notice given to Tenant at any time prior to the Expiration Date or not later
than 30 days after any earlier termination of this Lease, may require Tenant, notwithstanding
Section 4.02(a), to remove all or any Fixtures that constitute non-customary improvements
for a normal office installation, such as, by way of example only, kitchens, vaults, safes, raised
flooring and stairwells. If Landlord shall give such notice, then Tenant, at Tenant’s expense,
prior to the Expiration Date, or in the case of an earlier termination of this Lease, within 15
days after the giving of such notice by Landlord, shall remove the same from the Premises, shall
repair and restore the Premises to the condition existing prior to installation thereof and shall
repair any damage to the Premises or to the Building due to such removal. Notwithstanding the
foregoing, Tenant, at the time Tenant submits to Landlord Tenant’s plans and specifications for any
Alterations, may request in writing that Landlord specifically identify any

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Fixtures shown on Tenant’s plans and specifications that constitute non-customary improvements
for a normal office installation (such as, by way of example only, kitchens, vaults, safes, raised
flooring and stairwells) and which Landlord requires that Tenant remove at the end of the Term of
this Lease (and restore the Premises to its condition existing prior to the installation of such
Fixtures). If Tenant shall make such request in writing and such request shall specify that the
failure of Landlord to indicate any such Fixtures shall be deemed a wavier of Landlord’s right to
require Tenant to remove same, then, any Fixtures which Landlord fails to designate in Landlord’s
approval of such plans and specifications as Fixtures which Tenant shall be required to remove
shall not be required to be removed by Tenant at the end of the term of this Lease, and such
failure shall constitute a waiver of Landlord’s right to obligate Tenant to remove such Fixtures at
the end of the term of this Lease.

     4.03. Access and Changes to Building. (a) Landlord reserves the right, at any time and from
time to time, to make such changes, alterations, additions, improvements and repairs in or to the
Project as Landlord may deem necessary or desirable, and Landlord shall have no liability to Tenant
therefor; provided, that such changes, alterations, additions, improvements or repairs do
not materially and adversely affect Tenant’s access to the Premises or Landlord’s Services provided
to Tenant, or reduce (other than on a temporary basis) the usable square footage of the Premises.
In addition, Landlord may install and maintain pipes, fans, ducts, wires and conduits within or
through the existing walls, floors or ceilings of the Premises. Tenant shall not have any easement
or other right in or to the use of any door or any passage or any concourse or any plaza connecting
the Building with any subway or any other building or to any public conveniences, and the use of
such doors, passages, concourses, plazas and conveniences may, without notice to Tenant, be
regulated or discontinued at any time by Landlord.

     (b) Except for the space within the inside surfaces of all walls, hung ceilings, floors,
windows and doors bounding the Premises, all of the Building, including, without limitation,
exterior Building walls and facade, core corridor walls and doors and any core corridor entrance,
any terraces or roofs adjacent to the Premises, and any space in or adjacent to the Premises used
for shafts, stacks, pipes, conduits, fan rooms, ducts, electric or other utilities, sinks or other
Building facilities, and the use thereof, as well as access thereto through the Premises, are
reserved to Landlord and are not part of the Premises.

     (c) Landlord reserves the right to name the Building and to change the name or address of the
Building at any time and from time to time. Notwithstanding the foregoing, provided and for so
long as the Named Tenant, any Affiliate of the Named Tenant and/or any Named Tenant Permitted
Assignee, and any Desk Space User permitted pursuant to Section 5.01(d) hereof, is in
actual occupancy of at least six (6) full floors of the Building and no Event of Default has
occurred, Landlord shall not change the name of the Building to the name of any other tenant in the
Building or to the proprietary name of any other person or entity, it being understood and
expressly agreed

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that Landlord shall at all times have the right to change the name of the Building to any name
which is not a person or entity, such as (by way of example only) Park Avenue Plaza and the like.

     (d) Landlord shall have no liability to Tenant if at any time any windows of the Premises are
either temporarily removed, darkened or obstructed by reason of any repairs, improvements,
maintenance and/or cleaning in or about the Building (or permanently darkened or obstructed if
required by Law) or covered by any translucent material for the purpose of energy conservation, or
if any part of the Building, other than the base Building systems (but subject to Section 3.01(c)),
the interior of the Premises and those public areas of the Building that are used by Tenant and
necessary for access to the Premises, are temporarily or permanently closed or inoperable;
provided, that Landlord shall use commercially reasonable efforts to minimize the period of
such removal, obstruction or closure (without obligation to incur overtime labor charges).

     (e) Landlord and persons authorized by Landlord shall have the right, upon prior notice to
Tenant and at reasonable times (except in an emergency), to (i) enter the Premises (together with
any necessary materials and/or equipment), to inspect or perform such work as Landlord may
reasonably deem necessary (provided that Landlord shall thereafter restore the affected area of the
Premises to the condition existing prior to such work) or to exhibit the Premises to prospective
purchasers or lenders or, during the last 18 months of the Term, to prospective tenants, or for any
other purpose as Landlord may deem necessary or desirable or (ii) erect and maintain sidewalk
bridges and/or scaffolding on or about the Building. Landlord agrees to use commercially
reasonable efforts to not unreasonably interfere with Tenant’s business in the Premises (without
obligation to incur overtime labor charges) in connection with any entry into the Premises pursuant
to subclause (i) above. Landlord shall have no liability to Tenant by reason of any action
taken under this Section 4.03(e). Except as provided above or the extent necessitated by
any act of Landlord, Landlord shall not be required to make any improvements or repairs of any kind
or character to the Premises during the Term.

     4.04. Repairs. (a) Tenant shall keep the Premises (including, without limitation, all
Fixtures) in good condition and, upon expiration or earlier termination of the Term, shall
surrender the same to Landlord in the same condition as when first occupied, reasonable wear and
tear, obsolescence and damage by casualty excepted. Tenant’s obligation shall include, without
limitation, the obligation to repair all damage caused by Tenant, its agents, employees, invitees
and licensees to the equipment and other installations in the Premises or anywhere in the Building.
Any repair or replacement to the windows (including, without limitation, any solar film attached
thereto), the Building systems, the Building’s structural components or any areas outside the
Premises, to the extent necessitated by any act or omission of Tenant, shall be performed by
Landlord at Tenant’s expense.

     (b) Landlord, at Landlord’s cost and expense (but subject to recoupment as an Operating
Expense to the extent includable as an Operating Expense in

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accordance with Section 2.05 hereof), shall keep, repair and maintain in a manner
consistent with first-class office buildings in midtown Manhattan (i) structural and public
portions of the Building (including the structural elements within the Premises), and (ii) the
systems and facilities of the Building serving the common and public portions of the Building and
the Premises, except for any repairs arising from the acts or omissions of Tenant or its employees,
agents, contractors, invitees or licensees, with respect to which Tenant shall be responsible.

     4.05. Compliance with Laws. (a) Tenant shall comply with all laws, ordinances, rules, codes,
orders and regulations (present, future, ordinary, extraordinary, foreseen or unforeseen) of any
governmental, public or quasi-public authority and of the New York Board of Underwriters, the New
York Fire Insurance Rating Organization and any other entity performing similar functions, at any
time duly in force (collectively “Laws”), attributable to any work, installation,
occupancy, use or manner of use by Tenant of the Premises or any part thereof. Nothing contained
in this Section 4.05 shall require Tenant to make any structural or other material
Alterations unless the same are necessitated by reason of Tenant’s specific manner of use of the
Premises or the use by Tenant of the Premises for purposes other than normal and customary ordinary
office purposes. Tenant shall procure and maintain all licenses and permits required for its
business.

     (b) Anything contained in this Lease to the contrary notwithstanding, if the Premises is
required to be sprinklered to pursuant to the provisions of Local Law 5 of the New York City
Administrative Code, as approved January 18, 1973, as amended from time to time, then Landlord
shall provide the tie-in to the Building sprinkler system at a single point in the perimeter of
each floor of the Premises, and Tenant shall be responsible to provide the distribution of such
system throughout the Premises, install all sprinkler heads, perform all other work and make all
other installations necessary in order to fully sprinkler the Premises in compliance with the
provisions of such law.

     (c) Notwithstanding the provisions of Section 4.05(a) hereof, Tenant, at its own cost
and expense, may contest, in any manner permitted by Law (including appeals to a court, or
governmental department or authority having jurisdiction in the matter), the validity or the
enforcement of any Laws with which Tenant is required to comply pursuant to this Lease provided
that:

          (i) such non-compliance shall not subject Landlord or any Superior Mortgagee or Superior
Lessor, or any officer, partner, principal (disclosed or undisclosed), agent or employee of
Landlord or any Superior Mortgagee or Superior Lessor to criminal prosecution or civil liability or
subject the Building (or any portion thereof) to lien or sale and shall not cause, or be reasonably
likely to cause, the same to be condemned or vacated;

          (ii) such non-compliance shall not be in violation of any Superior Mortgage or Superior Lease;

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          (iii) Tenant shall first deliver to Landlord a surety bond issued by a surety company of
recognized responsibility, or other security reasonably satisfactory to Landlord, indemnifying and
protecting Landlord and any Superior Mortgagee or Superior Lessor against any loss, cost,
liability, damage or expenses (including, without limitation, interest and penalties and reasonable
attorneys’ fees and disbursements) which could arise by reason
of such non–compliance (which bond
or other security shall be released by Landlord promptly upon resolution of such contest or full
compliance by Tenant with such Laws); and

          (iv) Tenant shall promptly, diligently and continuously prosecute such contest and shall keep
Landlord informed, on a regular basis, of the status of such contest.

     (d) Except to the extent the same is Tenant’s responsibility pursuant to Section
4.05(a) or (b) above or elsewhere in this Lease, Landlord shall comply with all Laws in
effect as of the Commencement Date (or enacted or otherwise made applicable to the Premises or the
Building during the Term) applicable to the Premises and the Building and which affect Tenant’s use
or occupancy of the Premises or the Building, but only if Tenant’s use of the Premises or the
Building shall be materially and adversely affected by non-compliance therewith, subject to
Landlord’s right to contest the applicability or legality of such Laws. Except for violations
which are or will be rendered moot by Landlord’s Initial Work or Tenant’s initial Alterations,
Landlord shall correct or remedy any violations recorded against the Building and which materially
and adversely affect Tenant’s ability to perform Tenant’s initial Alterations or Tenant’s use or
occupancy of the Premises.

     4.06. Tenant Advertising. Tenant shall not use, and shall cause each of its Affiliates not to
use, the name or likeness of the Building or the Project in any advertising (by whatever medium)
without Landlord’s consent (not to be unreasonably withheld or delayed).

     4.07. Right to Perform Tenant Covenants. If Tenant fails to perform any of its obligations
under this Lease, Landlord, any Superior Lessor or any Superior Mortgagee (each, a “Curing
Party”) may perform the same at the expense of Tenant (a) immediately and without notice in the
case of emergency and (b) in any other case if such failure continues beyond any applicable grace
period. If a Curing Party performs any of Tenant’s obligations under this Lease, Tenant shall pay
to Landlord (as Additional Charges) the actual out-of-pocket costs thereof, together with interest
at the Interest Rate from the date incurred by the Curing Party until paid by Tenant, within 20
days after receipt by Tenant of a statement as to the amounts of such costs. If the Curing Party
effects such cure by bonding any lien which Tenant is required to bond or otherwise discharge,
Tenant shall obtain and substitute a bond for the Curing Party’s bond and shall reimburse the
Curing Party for the actual out-of-pocket cost of the Curing Party’s bond. “Interest Rate”
means the lesser of (i) the base rate from time to time announced by Citibank, N.A. (or, if
Citibank, N.A. shall not exist, such other bank in New York, New

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York, as shall be designated by Landlord in a notice to Tenant) to be in effect at its
principal office in New York, New York plus 2% or (ii) the maximum rate permitted by law.

ARTICLE 5.

ASSIGNMENT AND SUBLETTING

     5.01. Assignment; Etc. (a) Except as otherwise provided in this Article 5, neither
this Lease nor the term and estate hereby granted, nor any part hereof or thereof, shall be
assigned, mortgaged, pledged, encumbered or otherwise transferred voluntarily, involuntarily, by
operation of law or otherwise (any of the foregoing being referred to herein as an
“Assignment”; and the assignee or other transferee pursuant to an Assignment being an
“Assignee”), and neither the Premises, nor any part thereof, shall be subleased, licensed,
franchised, used or occupied by any person or entity other than Tenant or be encumbered in any
manner by reason of any act or omission on the part of Tenant, nor shall Tenant directly or
indirectly part with possession of all or any portion of the Premises (any of the foregoing being
referred to herein as a “Sublease”; and the sublessee, licensee, franchisee, occupant or
other party obtaining the right to possession pursuant to a Sublease being a “Sublessee”),
and no rents or other sums receivable by Tenant under any Sublease of all or any part of the
Premises shall be assigned or otherwise encumbered, without the prior consent of Landlord. Except
as otherwise provided in this Article 5, the dissolution or direct or indirect transfer of
control of Tenant (however accomplished including, by way of example, the admission of new partners
or members or withdrawal of existing partners or members, or transfers of interests in
distributions of profits or losses of Tenant, issuance of additional stock, redemption of stock,
stock voting agreement, or change in classes of stock) shall be deemed an assignment of this Lease
regardless of whether the transfer is made by one or more transactions, or whether one or more
persons or entities hold the controlling interest prior to the transfer or afterwards. An
agreement under which another person or entity becomes responsible for all or a portion of Tenant’s
obligations under this Lease shall be deemed an assignment of this Lease. No Assignment of this
Lease and the term and estate hereby granted, and no Sublease of all or any portion of the Premises
shall relieve Tenant of its liability under this Lease or of the obligation to obtain Landlord’s
prior consent to any further Assignment or Sublease. Any attempt to effect and Assignment this
Lease or a Sublease of all or any portion of the Premises in violation of this Article 5
shall be null and void.

     (b) Notwithstanding Section 5.01(a), without the consent of Landlord, this Lease may
be assigned to (i) an entity created by merger, reorganization or recapitalization of or with
Tenant or (ii) a purchaser of all or substantially all of Tenant’s assets or (iii) a purchaser of a
controlling interest in Tenant; provided, in the case of clause (i), clause
(ii), and clause (iii), that (A) Landlord shall have received a notice of such
Assignment from Tenant, (B) the Assignee assumes by written instrument satisfactory to Landlord all
of Tenant’s obligations under this Lease, (C) such Assignment is for a valid business purpose and
not to circumvent the provisions of this

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Article 5, and (D) the Assignee is a reputable entity of good character and shall
have, immediately after giving effect to such Assignment, an aggregate net worth (computed in
accordance with GAAP) at least equal to $50,000,000 and a pre-tax net income of $10,000,000.

     (c) Notwithstanding Section 5.01(a), without the consent of Landlord, Tenant may enter
into an Assignment of this Lease with, or Sublease all or any part of the Premises to, an Affiliate
of Tenant; provided, that (i) Landlord shall have received a notice of such Assignment or
Sublease from Tenant; and (ii) in the case of any such Assignment, (A) the Assignment is for a
valid business purpose and not to circumvent the provisions of this Article 5, and (B) the Assignee
assumes by written instrument satisfactory to Landlord all of
Tenant’s obligations under this Lease.
“Affiliate” means, as to any designated person or entity, any other person or entity which
controls, is controlled by, or is under common control with, such designated person or entity.
“Control” (and with correlative meaning, “controlled by” and “under common control with”)
means ownership or voting control, directly or indirectly, of 51% or more of the voting stock,
partnership interests or other beneficial ownership interests of the entity in question.

     (d) Notwithstanding Section 5.01(a), without the consent of Landlord, Tenant may from
time to time, subject to all of the provisions of this Lease, permit portions of the Premises to be
used or occupied under so-called “desk sharing” arrangements by any Person with whom Tenant has a
significant ongoing business relationship other than as tenants of the Premises (such as, by way of
example, Tenant’s auditors, Tenant’s clients and Tenant’s joint venturers) utilizing space in the
Premises (each such desk or office space user, a “Desk Space User”); provided, that
(i) any such use or occupancy of desk or office space shall be without the installation of demising
walls separating such desk or office space, any separate entrance or any signage identifying such
Desk Space User, (ii) at any time during the Term, the aggregate of the rentable square footage
then used by Desk Space Users pursuant this Section 5.01(d) shall not exceed ten percent
(10%) of the then rentable square footage of the Premises, (iii) each Desk Space User shall use the
Premises in accordance with all of the provisions of this Lease, and only for the use expressly
permitted pursuant to this Lease, (iv) in no event shall the use of any portion of the Premises by
a Desk Space User create or be deemed to create any right, title or interest of such Desk Space
User in any portion of the Premises or this Lease, (v) such “desk sharing” arrangement shall
terminate automatically upon the termination of this Lease, (vi) Tenant shall receive no rent or
other payment or consideration for the use or occupancy of any space in the Premises by any Desk
Space User in excess of an allocable share of the Rent reserved hereunder and (vii) such desk
sharing arrangement is for a valid business purpose and not to circumvent the provisions of this
Article 5. Prior to entering into any such desk sharing arrangement, Tenant shall notify
Landlord in writing of its plan to provide any space in the Premises to a Desk Space User, which
notice shall include (1) a description of the nature and character of the business to be conducted
in the Premises by such Desk Space User and (2) the rentable square feet of the Premises to be
occupied by such Desk Space User, together with a copy

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of the agreement, if any, relating to the use or occupancy of such portion of the Premises by
such Desk Space User.

     5.02. Landlord’s Right of First Offer. (a) If Tenant desires to enter into an Assignment of
this Lease or Sublease all or part of the Premises (other than in accordance with Section
5.01(b), 5.01(c) or 5.01(d)), Tenant shall give to Landlord notice
(“Tenant’s Offer Notice”) thereof, and notice shall be accompanied by (i) a conformed or
photostatic copy of the proposed Assignment or Sublease and all related agreements, or a letter of
intent containing all of the material economic terms of the proposed Assignment or Sublease and
executed by the proposed Assignee or Sublessee and, in either case the effective or commencement
date (the “Effective Date”) of the proposed Assignment or Sublease shall be at least 45
days after the giving of such notice, (ii) a statement setting forth in reasonable detail the
identity of the proposed Assignee or Sublessee, the nature of its business and its proposed use of
the Premises, (iii) current financial information with respect to the proposed Assignee or
Sublessee, including, without limitation, its most recent certified financial statements, if such
financial statements are certified (or, if not, certified by the chief financial officer of the
proposed Assignee or Sublessee as being true and correct) and (iv) if the proposed transaction is
an Assignment or a Sublease of all or a portion of the Premises for a term equal to 7 years or more
or for substantially all of the then remaining balance of the Term (without giving effect to any
unexercised Renewal Option), a good faith estimate of the amount that Landlord would be required to
pay to Tenant pursuant to this Section 5.02 on account of any Unamortized Initial
Alteration Costs and Unamortized Subsequent Alteration Costs, assuming that the applicable
Determination Date was the Effective Date of the proposed Assignment or Sublease, as the case may
be.

     (b) If the proposed transaction is an Assignment or a Sublease of all or a portion of the
Premises for a term equal to 7 years or more or for substantially all of the then remaining balance
of the Term (without giving effect to any unexercised Renewal Option), Tenant’s Offer Notice shall
be deemed an offer from Tenant to Landlord whereby Landlord (or Landlord’s designee) may, at
Landlord’s option, (i) Sublease such space from Tenant (if the proposed transaction is a Sublease
of all or part of the Premises for a term that is equal to 7 years or more or for substantially all
of the then remaining balance of the Term, without giving effect to any unexercised Renewal
Option), (ii) have this Lease assigned to it (if the proposed transaction is an Assignment or a
Sublease of all or substantially all of the Premises or a Sublease of a portion of the Premises
which, when aggregated with other Subleases then in effect, covers all or substantially all of the
Premises; provided, that if the proposed transaction is a Sublease of a portion of the
Premises which, when aggregated with other Subleases then in effect, covers all or substantially
all of the Premises, such assignment to Landlord shall be subject to such other Subleases then in
effect) or terminate this Lease (if the proposed transaction is an Assignment or a Sublease of all
or substantially all of the Premises), or (iii) terminate this Lease with respect to the space
covered by the proposed sublease (if the proposed transaction is a Sublease of part of the Premises
for a term that is equal to all or substantially all of the then remaining balance of the Term of
this Lease, without giving

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effect to any unexercised Renewal Option). Said option may be exercised by Landlord by notice
to Tenant within 30 days after a Tenant’s Offer Notice, together with all information required
pursuant to Section 5.02(a), has been given by Tenant to Landlord. For the purpose hereof;
“substantially all of the then remaining balance of the Term” shall mean that, at the conclusion of
the term of the proposed sublease, less than 18 months shall remain with respect to the Term
(without giving effect to any unexercised Renewal Options).

     (c) If Landlord exercises its option under Section 5.02(b)(ii) to terminate this
Lease, then this Lease shall terminate on the Effective Date of the proposed Assignment or Sublease
specified in the applicable Tenant’s Offer Notice and all Rent shall be paid and apportioned to
such date. Landlord shall pay to Tenant, within 30 days after the Effective Date of the proposed
Assignment or Sublease, an amount equal to seventy percent (70%) of the sum of (1) the excess of
(x) the Unamortized Initial Alteration Costs as of the Effective Date over (y) the aggregate of all
amounts theretofore paid by Landlord to Tenant for the Unamortized Initial Alteration Costs in
connection with any prior proposed Assignments or Subleases, plus (2) the excess of (x) the
Unamortized Subsequent Alteration Costs as of the Effective Date with respect to each subsequent
Alteration over (y) the aggregate of all amounts theretofore paid by Landlord to Tenant for the
Unamortized Subsequent Alteration Costs for each such subsequent Alteration in connection with any
prior proposed Assignments or Subleases; provided, however, in no event shall
Landlord be obligated to pay to Tenant pursuant to this sentence more than the amount of profit to
which Tenant would have been entitled, if any, pursuant to Section 5.05 hereof had Tenant
entered into the proposed Assignment or Sublease in question. Tenant shall not be entitled to any
other consideration or payment from Landlord (or Landlord’s designee) in connection with any such
termination.

     (d) If Landlord exercises its option under Section 5.02(b)(ii) to have this Lease
assigned to it (or its designee), then Tenant shall assign this Lease to Landlord (or Landlord’s
designee) by an Assignment in form and substance reasonably satisfactory to Landlord, effective on
the Effective Date of the proposed Assignment or Sublease specified in the applicable Tenant’s
Offer Notice, and Landlord shall pay to Tenant, within 90 days after the Effective Date of the
proposed Assignment or Sublease, the amount, if any, calculated pursuant to the penultimate
sentence of Section 5.02(c) above. Tenant shall not be entitled to any other consideration
or payment from Landlord (or Landlord’s designee) in connection with any such Assignment. Upon the
consummation of any such Assignment to Landlord or its designee, Tenant shall be released from any
obligations accruing under this Lease from and after the date of such Assignment.

     (e) If Landlord exercises its option under Section 5.02(b)(iii) to terminate this
Lease with respect to the space covered by a proposed Sublease, then (i) this Lease shall terminate
with respect to such part of the Premises on the Effective Date of the proposed Sublease specified
in the applicable Tenant’s Offer Notice; (ii) from and after such date the Rent shall be adjusted,
based upon the proportion that the rentable area of the Premises remaining bears to the total
rentable area of the Premises; (iii) Tenant

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shall pay to Landlord, upon demand, the costs incurred by Landlord in demising separately such
part of the Premises and in complying with any Laws relating to such demise; and (iv) Landlord
shall pay to Tenant, within 30 days after the Effective Date of the proposed Sublease, an amount
equal to seventy percent (70%) of the product of (A) the sum of (1) the excess of (x) the
Unamortized Initial Alteration Costs as of the Effective Date over (y) the aggregate of all amounts
theretofore paid by Landlord to Tenant for the Unamortized Initial Alteration Costs in connection
with any prior proposed Assignments or Subleases, plus (2) the excess of (x) the Unamortized
Subsequent Alteration Costs as of the Effective Date with respect to each subsequent Alteration
over (y) the aggregate of all amounts theretofore paid by Landlord to Tenant for the Unamortized
Subsequent Alteration Costs for each such subsequent Alteration in connection with any prior
proposed Assignments or Subleases, multiplied by (B) a fraction, the numerator of which is the
rentable square footage of the portion of the Premises so terminated, and the denominator of which
is the total rentable square footage of the Premises; provided, however, in no
event shall Landlord be obligated to pay to Tenant pursuant to this sentence more than the amount
of profit to which Tenant would have been entitled, if any, pursuant to Section 5.05 hereof
had Tenant entered into the proposed Sublease in question.

     (f) If Landlord exercises its option under Section 5.02(b)(i) to sublet the space
Tenant desires to Sublease, such Sublease to Landlord or its designee (as subtenant) shall be in
form and substance reasonably satisfactory to Landlord at the lower of (i) the rental rate per
rentable square foot of Fixed Rent and Additional Charges then payable pursuant to this Lease or
(ii) the rental set forth in the applicable Tenant’s Offer Notice with respect to such sublet
space, and shall be for the term set forth in the applicable Tenant’s Offer Notice, and:

          (A) shall provide that Landlord shall pay to Tenant, within 30 days after the Effective Date
of the proposed Sublease, an amount equal to seventy percent (70%) of the product of (A) the sum of
(1) the excess of (x) the Unamortized Initial Alteration Costs as of the Effective Date over (y)
the aggregate of all amounts theretofore paid by Landlord to Tenant for the Unamortized Initial
Alteration Costs in connection with any prior proposed Assignments or Subleases, plus (2) the
excess of (x) the Unamortized Subsequent Alteration Costs as of the Effective Date with respect to
each subsequent Alteration over (y) the aggregate of all amounts theretofore paid by Landlord to
Tenant for the Unamortized Subsequent Alteration Costs for each such subsequent Alteration in
connection with any prior proposed Assignments or Subleases, multiplied by (B) a fraction, the
numerator of which is the rentable square footage of the portion of the Premises so sublet, and the
denominator of which is the total rentable square footage of the Premises, multiplied by (C) a
fraction, the numerator of which is the number of months in the Sublease at issue and the
denominator of which is the number of months in the period from the Effective Date of such Sublease
to the Expiration Date of the initial Term of this Lease; provided, however, in no
event shall Landlord be obligated to pay to Tenant pursuant to this sentence more than the amount
of

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profit to which Tenant would have been entitled, if any, pursuant to Section 5.05
hereof had Tenant entered into the proposed Sublease in question.

          (B) shall be subject to all of the terms and conditions of this Lease except such as are
irrelevant or inapplicable, and except as otherwise expressly set forth to the contrary in this
Section 5.02(f);

          (C) shall be upon the same terms and conditions as those contained in the applicable Tenant’s
Offer Notice and otherwise on the terms and conditions of this Lease, except such as are irrelevant
or inapplicable and except as otherwise expressly set forth to the contrary in this Section
5.02(f);

          (D) shall permit the Sublessee, without Tenant’s consent, freely to enter into an Assignment
of such Sublease or any interest therein or to Sublease all or any part of the space covered by
such Sublease and to make any and all alterations and improvements in the space covered by such
Sublease (it being understood that Tenant shall not be responsible to remove any Fixtures pursuant
to Section 4.02(d) hereof which are installed by, or for any default under this Lease to
the extent directly caused by the act or omission of Landlord or its designee (or the
sub-Sublessee) as the sublessee under such Sublease);

          (E) shall provide that any Assignee or further Sublessee of Landlord or its designee may, at
the election of Landlord, make alterations, decorations and installations in such space or any part
thereof, any or all of which may be removed, in whole or in part, by such Assignee or Sublessee, at
its option, prior to or upon the expiration or other termination of such sublease, provided that
such Assignee or Sublessee, at its expense, shall repair any damage caused by such removal;

          (F) shall provide that (1) the parties to such Sublease expressly negate any intention that
any estate created under such Sublease be merged with any other estate held by either of said
parties, (2) any Assignment or Sublease by Landlord or its designee (as the subtenant) may be for
any purpose or purposes that Landlord shall deem appropriate, (3) Landlord, at Tenant’s expense,
may make such alterations as may be required or deemed necessary by Landlord to demise separately
the Subleased space and to comply with any Laws relating to such demise, and (4) at the expiration
of the term of such Sublease, Tenant shall accept the space covered by such Sublease in its then
existing condition, subject to the obligations of the Sublessee to make such repairs thereto as may
be necessary to preserve such space in good order and condition; and

          (G) The term “Unamoritized Initial Alteration Costs” shall mean, as of a given date
(the “Determination Date”), an amount equal to the product of (1) the cost of Tenant’s
initial Alterations performed to ready the Premises for Tenant’s initial occupancy that was
actually borne by Tenant (i.e., excluding any cost for which Tenant was reimbursed by
Landlord pursuant to Section 8.03), as substantiated by bills, receipts and other proofs of
cost reasonably satisfactory to Landlord), multiplied by (2) a fraction, the numerator of which is
the number of months from such Determination Date

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to the Expiration Date of the initial Term of this Lease, and the denominator of which is the
number of months from the Commencement Date to the Expiration Date of the initial Term of this
Lease. The term “Unamortized Subsequent Alteration Costs” shall mean, as of any
Determination Date with respect to any given Alteration (other than the Alterations to ready any
portion of the Premises for Tenant’s initial occupancy thereof), an amount equal to the product of
(1) the cost thereof (as substantiated by bills, receipts and other proofs of cost reasonably
satisfactory to Landlord) multiplied by (2) a fraction, the numerator of which is the number of
months in the period from such Determination Date to Expiration Date of the initial Term of this
Lease, and the denominator of which is equal to the number of months in the period from the date
such Alteration is completed to the Expiration Date of the initial Term of this Lease.

     (g) In the case of a proposed Sublease, Tenant shall not Sublease any space to a third party
at a net effective rental which is less (on a per rentable square foot basis) than ninety-five
percent (95%) of the net effective rental (on a per rentable square foot basis) specified in
Tenant’s Offer Notice with respect to such space, without complying once again with all of the
provisions of this Section 5.02 and re-offering such space to Landlord at such lower
rental. In the case of a proposed Assignment, Tenant shall not enter into an Assignment of this
Lease to a third party where Tenant pays greater consideration or grants a greater concession to
such third party for such Assignment then the consideration offered to be paid or concession
offered to be granted to Landlord in Tenant’s Offer Notice without complying once again with all of
the provisions of this Section 5.02 and re-offering to enter into an Assignment of this
Lease to Landlord and pay such consideration or grant such concession to Landlord.

     5.03. Assignment and Subletting Procedures. (a) If Tenant delivers to Landlord a Tenant’s
Offer Notice with respect to any proposed Assignment of this Lease or Sublease of all or part of
the Premises and Landlord does not timely exercise any of its options under Section 5.02,
or Landlord does not have the right to exercise any of the options under Section 5.02 with
respect to the proposed Assignment or Sublease in question, and Tenant desires to effect an
Assignment of this Lease or Sublease the space specified in Tenant’s Offer Notice, Tenant shall
notify Landlord (a “Transfer Notice”) of such desire, which notice shall be accompanied by
(i) a certification by Tenant as to any changes in the information submitted to Landlord with the
Tenant’s Offer Notice and (ii) such other information as Landlord may reasonably request, and
Landlord’s consent to the proposed Assignment or Sublease shall not be unreasonably withheld,
provided that:

          (i) such Transfer Notice shall be delivered to Landlord within six months after the delivery
to Landlord of the applicable Tenant’s Offer Notice.

          (ii) In Landlord’s reasonable judgment the proposed Assignee or Sublessee will use the
Premises in a manner that (A) is in keeping with the first-class “Park Avenue” standards of the
Building and (B) is limited to the use expressly permitted under this Lease.

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          (iii) The proposed Assignee or Sublessee is, in Landlord’s judgment, a reputable person or
entity of good character and with sufficient financial worth considering the responsibility
involved.

          (iv) Neither the proposed Assignee or Sublessee, nor any Affiliate of such assignee or
sublessee, is then an occupant of any part of the Building.

          (v) The proposed Assignee or Sublessee is not a person with whom Landlord (A) is then
negotiating to lease space any in the Building or (B) has within the 6 months prior to the
commencement date of the proposed Assignment or Sublease negotiated to lease space in the Building;
provided that Landlord then has, or anticipates having within the next 6 months, comparable space
available in the Building.

          (vi) The form of the proposed Sublease shall be reasonably satisfactory to Landlord and shall
comply with the applicable provisions of this Article 5.

          (vii) There shall not be more than 1 occupant on each floor of the Premises (including
Tenant); provided, that Affiliates of Tenant with respect to which there are no separate
demising walls or entrances and Desk Space Users shall not be considered an occupant in addition to
Tenant for this purpose.

          (viii) Tenant shall reimburse Landlord on demand for any actual out-of-pocket costs reasonably
incurred by Landlord in connection with said Assignment or Sublease, including, without limitation,
the costs of making investigations as to the acceptability of the proposed Assignee or Sublessee,
and reasonable legal costs incurred in connection with the granting of any requested consent.

     (b) If Landlord consents or shall be deemed to have consented to a proposed Assignment or
Sublease and Tenant fails to execute and deliver the Assignment or Sublease to which Landlord
consented within 6 months after the giving of such consent, then Tenant shall again comply with
this Article 5 before effecting an Assigning this Lease or a Sublease all or part of the Premises.

     (c) In any instance in which Landlord’s consent shall be required with respect to a proposed
Assignment or Sublease, Landlord agrees that Landlord shall, within twenty-one (21) days following
receipt of the Transfer Notice and all documentation and information required to be accompanied
therewith (which 21-day period may run concurrently with, but not end before, the period in which
Landlord has to exercise its options pursuant to Section 5.02 hereof), advise Tenant of
whether or not Landlord consents to the proposed Assignment or Sublease. If Landlord shall fail to
grant or deny its consent to the proposed Assignment or Sublease within such 21 day period, and
such failure shall continue for a period of ten (10) days after notice from Tenant stating that
Landlord has failed to so grant or deny such consent, Landlord shall be deemed to have approved
such Assignment or Sublease.

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     5.04. General Provisions. (a) If there is an Assignment of this Lease, whether or not in
violation of this Lease, Landlord may collect rent from the Assignee. If there is a Sublease of
the Premises or any part thereof, whether or not in violation of this Lease, Landlord may, after
default by Tenant, and expiration of Tenant’s time to cure such default, collect rent from the
Sublessee. In either event Landlord may apply the net amount collected against Rent, but no such
Assignment, Sublease or collection shall be deemed a waiver of any of the provisions of Section
5.01, or the acceptance of the Assignee or Sublessee as tenant, or a release of Tenant from the
performance of Tenant’s obligations under this Lease.

     (b) No Assignment to which Landlord shall have consented shall be effective until the Assignee
delivers to Landlord (i) evidence that the Assignee, as Tenant hereunder, has complied with the
requirements of Sections 7.02 and 7.03 and (ii) an agreement in form and substance
satisfactory to Landlord whereby the Assignee assumes Tenant’s obligations under this Lease.

     (c) Notwithstanding any Assignment, whether or not in violation of this Lease, and
notwithstanding the acceptance of any Rent by Landlord from an Assignee or any other party, except
as expressly set forth herein in the case of an assignment of this Lease to Landlord pursuant to
Section 5.02(b) hereof, the original named Tenant and each successor Tenant shall remain
fully liable for the payment of the Rent and the performance of all of Tenant’s other obligations
under this Lease. The joint and several liability of Tenant and any immediate or remote successor
in interest of Tenant shall not be discharged, released or impaired in any respect by any agreement
made by Landlord extending the time to perform, or otherwise modifying, any of the obligations of
Tenant under this Lease, or by any waiver or failure of Landlord to enforce any of the obligations
of Tenant under this Lease; provided, however, that in the case of any modification
of this Lease made after the date of an assignment or other transfer of this Lease by Tenant, to
the extent that such modification increases or enlarges the obligations of Tenant or reduces the
rights of Tenant without the consent of the Named Tenant, then the Named Tenant and each respective
assignor or transferor shall not be liable under or bound by such increase, enlargement or
reduction.

     (d) Each Sublease by Tenant to which Landlord shall have consented shall be subject to the
following:

          (i) No Sublease shall be for a term (including any renewal or extension options contained in
the Sublease) ending later than one day prior to the Expiration Date.

          (ii) No Sublease shall be valid, and no Sublessee shall take possession of the Premises or any
part thereof, until there has been delivered to Landlord, both (A) an executed counterpart of such
Sublease, and (B) a certificate of insurance evidencing that (x) Landlord, its managing agent, and
each Superior Lessor and Superior Mortgagee are an additional insured under the insurance policies
required to be

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maintained by occupants of the Premises pursuant to Section 7.02, and (y) there is in
full force and effect, the insurance otherwise required by Section 7.02.

          (iii) Each Sublease shall provide that it is subject and subordinate to this Lease, and that
in the event of termination, reentry or dispossess by Landlord under this Lease Landlord may, at
its option, take over all of the right, title and interest of Tenant, as sublessor, under such
Sublease, and such Sublessee shall, at Landlord’s option, attorn to Landlord pursuant to the then
executory provisions of such Sublease, except that Landlord shall not be liable for, subject to or
bound by any item of the type that a Successor Landlord is not so liable for, subject to or bound
by in the case of an attornment by Tenant to a Successor Landlord under Section 6.01(a).

     (e) Each Sublease to which Landlord shall have consented shall provide that the Sublessee may
not assign its rights thereunder or further sublet the space demised under the Sublease, in whole
or in part, without Landlord’s consent and without complying with all of the terms and conditions
of this Article 5, including, without limitation, Section 5.05, which for purposes
of this Section 5.04(e) shall be deemed to be appropriately modified to take into account
that the transaction in question is an Assignment of the Sublease or a further Sublease of the
space demised under the Sublease, as the case may be.

     (f) No advertisement for any Assignment or Sublease shall state the proposed rental at a
rental rate less than the Fixed Rent and Additional Charges at which Landlord is then offering to
lease comparable space in the Building. Nothing contained in this Section 5.04(f) shall be
construed to prohibit Tenant from actually entering into a Sublease at a rental less than the
amount described in the preceding sentence.

     5.05. Assignment and Sublease Profits. (a) If the aggregate of the amounts payable as fixed
rent and as additional rent on account of Taxes, Operating Expenses and electricity by a Sublessee
under a Sublease of any part of the Premises and the amount of any Other Sublease Consideration
payable to Tenant by such Sublessee, whether received in a lump-sum payment or otherwise shall be
in excess of Tenant’s Basic Cost therefor at that time, then, promptly after the collection
thereof, Tenant shall pay to Landlord in monthly installments as and when collected, as Additional
Charges, 50% of such excess. Tenant shall deliver to Landlord within 60 days after the end of each
calendar year and within 60 days after the expiration or earlier termination of this Lease a
statement specifying each Sublease in effect during such calendar year or partial calendar year,
the rentable area demised thereby, the term thereof and a computation in reasonable detail showing
the calculation of the amounts paid and payable by the subtenant to Tenant, and by Tenant to
Landlord, with respect to such Sublease for the period covered by such statement. “Tenant’s
Basic Cost” for sublet space at any time means the sum of (i) the portion of the Fixed Rent,
Tax Payments, Operating Payments which is attributable to the space covered by such Sublease, plus
(ii) the amount payable by Tenant on account of electricity in respect of such space, plus (iii)
the amount of any costs reasonably incurred by Tenant in making changes in the layout and finish of
such

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space for the Sublessee (whether actually performed by Tenant or incurred by Tenant in the
form of an improvement allowance) amortized on a straight-line basis over the term of the Sublease,
plus (iv) the amount of any reasonable brokerage commissions, reasonable legal fees and reasonable
advertisement costs paid by Tenant in connection with the Sublease amortized on a straight-line
basis over the term of the Sublease, plus (v) an amount equal to seventy percent (70%) of the
product of (A) the sum of (1) the excess of (x) the Unamortized Initial Alteration Costs as of the
Effective Date over (y) the aggregate of all amounts theretofore paid by Landlord to Tenant or
included in Tenant’s Basic cost for the Unamortized Initial Alteration Costs in connection with any
prior proposed or actual Assignments or Subleases, plus (2) the excess of (x) the Unamortized
Subsequent Alteration Costs as of the Effective Date with respect to each subsequent Alteration
over (y) the aggregate of all amounts theretofore paid by Landlord to Tenant or included in
Tenant’s Basic Cost for the Unamortized Subsequent Alteration Costs for each such subsequent
Alteration in connection with any prior proposed Assignments or Subleases, multiplied by (B) a
fraction, the numerator of which is the rentable square footage of the portion of the Premises so
sublet, and the denominator of which is the total rentable square footage of the Premises,
multiplied by (C) a fraction, the numerator of which is the number of months in the Sublease at
issue and the denominator of which is the number of months in the period from the Effective Date of
such Sublease to the Expiration Date of the initial Term of this Lease. “Other Sublease
Consideration” means all sums paid for the furnishing of services by Tenant and the sale or
rental of Tenant’s fixtures, leasehold improvements, equipment, furniture or other personal
property, less, in the case of the sale thereof, the then net unamortized or undepreciated cost
thereof determined on the basis of Tenant’s federal income tax returns.

     (b) Upon any Assignment of this Lease, Tenant shall pay to Landlord 50% of the Assignment
Consideration received by Tenant for such Assignment, after deducting therefrom (i) customary and
reasonable closing expenses, plus (ii) the amount of any costs reasonably incurred by Tenant in
making changes in the layout and finish of such space for the Assignee (whether actually performed
by Tenant or incurred by Tenant in the form of an improvement allowance), plus (iii) the amount of
any reasonable brokerage commissions, reasonable legal fees and reasonable advertisement costs paid
by Tenant in connection with the Assignment, plus (iv) an amount equal to seventy percent (70%) of
the sum of (1) the excess of (x) the Unamortized Initial Alteration Costs as of the Effective Date
over (y) the aggregate of all amounts theretofore paid by Landlord to Tenant or included in
Tenant’s Basic Cost for the Unamortized Initial Alteration Costs in connection with any prior
proposed or actual Assignments or Subleases, plus (2) the excess of (x) the Unamortized Subsequent
Alteration Costs as of the Effective Date with respect to each subsequent Alteration over (y) the
aggregate of all amounts theretofore paid by Landlord to Tenant or included in Tenant’s Basic Cost
for the Unamortized Subsequent Alteration Costs for each such subsequent Alteration in connection
with any prior proposed or actual Assignments or Subleases. “Assignment Consideration”
means an amount equal to all sums and other considerations paid to Tenant by the Assignee for or by
reason of such Assignment (including, without limitation, sums paid for the

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furnishing of services by Tenant and the sale or rental of Tenant’s fixtures, leasehold
improvements, equipment, furniture, furnishings or other personal property, less, in the case of a
sale thereof, the then net unamortized or undepreciated cost thereof determined on the basis of
Tenant’s federal income tax returns).

ARTICLE 6.

SUBORDINATION; DEFAULT; INDEMN1TY

     6.01. Subordination. (a) This Lease is subject and subordinate to each mortgage (any such
mortgage, as the same may be renewed, extended, modified, consolidated, spread or replaced, a
“Superior Mortgage”) and each underlying lease, including, without limitation, that certain
lease, dated as of December ___, 1998, by and between 390 Tower Associates, LLC and 390 Tower
Associates, as landlord, and Landlord, as tenant (any such underlying lease, as the same may be
renewed, extended, modified or replaced, a “Superior Lease”) which may now or hereafter
affect all or any portion of the Project or any interest therein; provided, that the
Superior Mortgagee under such Superior Mortgage or Superior Lessor under such Superior Lease shall
have executed and delivered a non-disturbance and attornment agreement substantially in the forms
annexed as Exhibit F-1 or Exhibit F-2, as applicable. The lessor under a Superior
Lease is called a “Superior Lessor” and the mortgagee under a Superior Mortgage is called a
“Superior Mortgagee”. Subject to the first sentence of this Section 6.01(a), the
foregoing provisions shall be self-operative and no further instrument of subordination shall be
required. Tenant shall execute, acknowledge and deliver any instrument reasonably requested by
Landlord, a Superior Lessor or Superior Mortgagee to evidence such subordination and
non-disturbance. Notwithstanding anything contained in this Section 6.01 to the contrary,
if any Superior Mortgagee or Superior Lessee executes and delivers a non-disturbance and attornment
agreement either (i) in substantially the form herein described or (ii) in a form which is not in
any material respect less favorable to Tenant as the form herein described, and Tenant either fails
or refuses to execute and deliver such agreement within 10 days after delivery of such agreement to
Tenant, then this Lease shall automatically and without further act be deemed to be subject and
subordinate to such Superior Mortgage or Superior Lease and such non-disturbance and attornment
agreement shall then be deemed to be in effect with respect to such Superior Mortgage or Superior
Lease. Tenant acknowledges and agrees that promptly following the date hereof Landlord shall use
commercially reasonable efforts to deliver to Tenant non-disturbance and attornment agreements
which satisfy the requirements of this Section 6.01. If Landlord shall fail to deliver to
Tenant such non-disturbance and attornment agreements within 30 days following the date hereof,
then Tenant shall have the one-time right, as Tenant’s sole and exclusive remedy, to terminate this
Lease by written notice to Landlord given within ten (10) days following the expiration of such
30-day period. Such termination shall be effective on the date that is 30 days following the date
of such notice, with the same force and effect as if such date were the Expiration Date under this
Lease, and Tenant shall deliver vacant possession of the Swing Space to Landlord on such date in
accordance with all of the terms and provisions of this Lease. If Tenant shall fail to timely
terminate this Lease pursuant to this Section 6.01(a), then

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Tenant shall be deemed to have irrevocably waived its right to so terminate this Lease.
Tenant shall execute any amendment of this Lease requested by a Superior Mortgagee or a Superior
Lessor, provided such amendment shall not result in an increase in Tenant’s monetary obligations
under this Lease or any non-monetary obligations to more than a de minimus extent, or a
reduction in the benefits available to Tenant of more than a de minimus amount or a
decrease in Landlord’s obligations under this Lease to more than a de minimus extent. In
the event of the enforcement by a Superior Mortgagee of the remedies provided for by law or by such
Superior Mortgage, the termination or expiration of a Superior Lease, or any re-entry or dispossess
by any Superior Lessor, Tenant, upon request of such Superior Mortgagee, Superior Lessor or any
person succeeding to the interest of such mortgagee or lessor (each, a “Successor
Landlord”) shall automatically become the tenant of such Successor Landlord without change in
the terms or provisions of this Lease (it being understood that Tenant shall, if requested, enter
into a new lease on terms identical to those in this Lease); provided, that any Successor
Landlord shall not be (i) liable for any act, omission or default of any prior landlord (including,
without limitation, Landlord), except a Successor Landlord shall be obligated to provide such
services and be responsible for such repairs as are required to be provided by Landlord under this
Lease, to the extent such obligation arises or continues after the date of attornment to such
Successor Landlord; (ii) liable for the return of any monies or security paid to or on deposit with
any prior landlord (including, without limitation, Landlord), except to the extent such monies or
deposits are delivered to such Successor Landlord; (iii) subject to any offset, deduction, claims
or defense that Tenant might have against any prior landlord (including, without limitation,
Landlord); (iv) bound by any Rent which Tenant might have paid for more than the current month to
any prior landlord (including, without limitation, Landlord) unless actually received by such
Successor Landlord; (v) bound by any covenant to perform or complete any work or construction in
connection with the Project or the Premises or to pay any sums to Tenant in connection therewith;
(vi) bound by any waiver or forbearance under, or any amendment, modification, abridgment,
cancellation or surrender of, this Lease made without the consent of such Successor Landlord; or
(vii) obligated to repair, replace or restore the improvement of which the Premises forms a part in
the event of damage or destruction beyond such repair, replacement or restoration as can reasonably
be accomplished with the net proceeds of insurance actually received or made available in such
regard, other than as set forth in this Lease. Notwithstanding the foregoing, in the event that
any Superior Mortgagee, Superior Lessor or any other person succeeding to the interest of such
mortgagee or lessor becomes a Superior Landlord as described in the preceding sentence and at such
time Landlord shall have failed to make any payment of Landlord’s Contribution, and provided that
Tenant shall not then be in the default in the payment of any Rent and no other Event of Default
shall have occurred and be continuing, and provided further that Tenant shall have given prior
written notice of such failure to such Superior Mortgagee, Superior Lessor or other person and such
Superior Mortgagee, Superior Lessor or other person shall have not cured such failure within 30
days following such notice, Tenant shall be entitled to an abatement of Fixed Rent in respect of
any amount of Landlord’s Contribution that Landlord shall have failed to pay to Tenant, but only to
the extent that as of such date Tenant would otherwise then be

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entitled to receive such payment pursuant to Section 8.03. Upon request by such
Successor Landlord, Tenant shall execute and deliver an instrument or instruments, reasonably
requested by such Successor Landlord, confirming the attornment provided for herein, but no such
instrument shall be necessary to make such attornment effective.

     (b) Tenant shall give each Superior Mortgagee and each Superior Lessor a copy of any notice of
default served upon Landlord, provided that Tenant has been notified of the address of such
mortgagee or lessor. If Landlord fails to cure any default as to which Tenant is obligated to give
notice pursuant to the preceding sentence within the time provided for in this Lease, then each
such Superior Mortgagee or Superior Lessor shall have an additional 30 days after receipt of such
notice within which to cure such default or if such default cannot be cured within that time, then
such additional time as may be necessary if within such 30 days, any such mortgagee or lessor has
commenced and is diligently pursuing the remedies necessary to cure such default (including,
without limitation, commencement of foreclosure proceedings or eviction proceedings, if necessary
to effect such cure), in which event this Lease shall not be terminated and Tenant shall not
exercise any other rights or remedies under this Lease or otherwise while such remedies are being
so diligently pursued. Nothing herein shall be deemed to imply that Tenant has any right to
terminate this Lease or any other right or remedy, except as may be otherwise expressly provided
for in this Lease.

     6.02. Estoppel Certificate. Each party shall, at any time and from time to time, within 10
days after request by the other party, execute and deliver to the requesting party (or to such
person or entity as the requesting party may designate) a statement 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), certifying the Commencement Date,
Expiration Date and the dates to which the Fixed Rent and Additional Charges have been paid, the
amount of Fixed Rent, the Tax Payment and Operating Payment then payable under this Lease and
whether or not any amount of Rent has been paid more than one (1) month in advance, the amount of
the Security Deposit paid by Tenant, whether or not Tenant is in possession of the Premises,
whether or not all improvements required to be constructed by Landlord have been completed in
accordance with the terms of this Lease, whether or not all allowances or contributions required to
be paid by Landlord toward the cost of improvements constructed by Tenant have been paid, and
whether or not, to the best knowledge of such party, the other party is in default in performance
of any of its obligations under this Lease, and, if so, specifying each such default of which such
party has knowledge, it being intended that any such statement shall be deemed a representation and
warranty to be relied upon by the party to whom such Statement is addressed. Tenant also shall
include or confirm in any such statement such other information concerning this Lease as Landlord
may reasonably request or as may be requested by any lender that may provide a loan secured by the
Project or any interest therein.

     6.03. Default. This Lease and the term and estate hereby granted are subject to the
limitation that:

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     (a) if Tenant defaults in the payment of any Rent, and such default continues for 5 days after
Landlord gives to Tenant a notice specifying such default, or

     (b) if Tenant defaults in the keeping, observance or performance of any covenant or agreement
(other than a default of the character referred to in Section 6.03(a), (c),
(d),(e) or (f), and if such default continues and is not cured within 30
days after Landlord gives to Tenant a notice specifying the same, or, in the case of a default
which for causes beyond Tenant’s reasonable control cannot with due diligence be cured within such
period of 30 days, if Tenant shall not institute and thereafter diligently prosecute to completion
all steps necessary to cure the same (provided, that it shall not be an Event of Default if, during
the two-year period commencing on the Commencement Date and ending on the day preceding the two
year anniversary of the Commencement Date, Tenant shall fail to carry the insurance required to be
carried pursuant to Section 7.02(a)(v) and provided, further, that
notwithstanding the foregoing, during such two-year period such insurance shall be deemed to be
“insurance required to be maintained by Tenant” for purposes of Section 9.24, and Tenant
shall not be entitled to receive any abatement thereunder during such two-year period to the extent
that Tenant would have received insurance proceeds had Tenant maintained such insurance), or

     (c) if this Lease or the estate hereby granted would, by operation of law or otherwise,
devolve upon or pass to any person or entity other than Tenant, except as expressly permitted by
Article 5, or

     (d) if Tenant shall abandon the Premises for a period in excess of 90 days and is not actively
and diligently seeking to assign this Lease or sublet the Premises at all times following such
90-day period (and the fact that any of Tenant’s Property remains in the Premises shall not be
evidence that Tenant has not abandoned the Premises); or

     (e) if a default of the kind set forth in Section 6.03(a) or (b) shall occur
and have been cured, and if a similar default shall occur more than twice within the next 365 days,
whether or not such similar defaults are cured within the applicable grace period, or

     (f) if Tenant fails to deliver to Landlord any Security Deposit or Letter of Credit, or any
amount required to replenish sums drawn or applied by Landlord from any Security Deposit or Letter
of Credit, within the time period required under Section 2.09, or

     (g) if (i) Tenant shall commence a case in bankruptcy, or under any insolvency laws, naming
Tenant as a debtor, or (ii) any other person shall commence a case in bankruptcy, or under any
insolvency laws, naming Tenant as a debtor, and such case shall not have been discharged within
ninety (90) days of the commencement thereof; or (iii) Tenant shall make an assignment for the
benefit of creditors or any other arrangement involving all or substantially all of its assets
under any state statute, or (iv) a receiver or trustee shall be appointed for Tenant or for all or
any portion of the property

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of Tenant in any proceeding, which receivership shall not have been set aside within ninety
(90) days of such appointment.

then, in any of such cases (each of such cases, an “Event of Default”), in addition to any
other remedies available to Landlord at law or in equity, Landlord shall be entitled to give to
Tenant a notice of intention to end the Term at the expiration of 5 days from the date of the
giving of such notice, and, in the event such notice is given, this Lease and the term and estate
hereby granted shall terminate upon the expiration of such 5 days with the same effect as if the
last of such 5 days were the Expiration Date, but Tenant shall remain liable for damages as
provided herein or pursuant to law.

     6.04. Re-entry by Landlord. If this Lease shall terminate as in Section 6.03
provided, Landlord or Landlord’s agents and servants may immediately or at any time thereafter
re-enter into or upon the Premises, or any part thereof, either by summary dispossess proceedings
or by any suitable action or proceeding at law, without being liable to indictment, prosecution or
damages therefor, and may repossess the same, and may remove any persons therefrom, to the end that
Landlord may have, hold and enjoy the Premises. The words “re-enter” and “re-entering” as used in
this Lease are not restricted to their technical legal meanings. Upon such termination or
re-entry, Tenant shall pay to Landlord any Rent then due and owing (in addition to any damages
payable under Section 6.05).

     6.05. Damages. If this Lease is terminated under Section 6.03, or if Landlord
re-enters the Premises under Section 6.04, Tenant shall pay to Landlord as damages, at the
election of Landlord, either:

     (a) a sum which, at the time of such termination, represents the then value of the excess, if
any, of (1) the aggregate of the Rent which, had this Lease not terminated, would have been payable
hereunder by Tenant for the period commencing on the day following the date of such termination or
re-entry to and including the Expiration Date over (2) the aggregate fair rental value of the
Premises for the same period (for the purposes of this clause (a) the amount of Additional
Charges which would have been payable by Tenant under Sections 2.04 and 2.05 shall,
for each calendar year ending after such termination or re-entry, be deemed to be an amount equal
to the amount of such Additional Charges payable by Tenant for the calendar year immediately
preceding the calendar year in which such termination or re-entry shall occur), or

     (b) sums equal to the Rent that would have been payable by Tenant through and including the
Expiration Date had this Lease not terminated or had Landlord not re-entered the Premises, payable
upon the due dates therefor specified in this Lease; provided, that if Landlord shall relet
all or any part of the Premises for all or any part of the period commencing on the day following
the date of such termination or re-entry to and including the Expiration Date, Landlord shall
credit Tenant with the net rents received by Landlord from such reletting, such net rents to be
determined by first deducting from the gross rents as and when received by Landlord from such
reletting the

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expenses actually incurred or paid by Landlord in terminating this Lease and of re-entering
the Premises and of securing possession thereof, as well as the expenses of reletting, including,
without limitation, altering and preparing the Premises for new tenants, brokers’ commissions, and
all other expenses properly chargeable against the Premises and the rental therefrom in connection
with such reletting, it being understood that any such reletting may be for a period equal to or
shorter or longer than said period; 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 under this Lease, (ii) in no event shall Tenant be entitled, in any suit for the
collection of damages pursuant to this Section 6.05(b), to a credit in respect of any net
rents from a reletting except to the extent that such net rents are actually received by Landlord,
(iii) if the Premises or any part thereof should be relet in combination with other space, then
proper apportionment on a square foot rentable area basis shall be made of the rent received from
such reletting and of the expenses of reletting and (iv) Landlord shall have no obligation to so
relet the Premises and Tenant hereby waives any right Tenant may have, at law or in equity, to
require Landlord to so relet the Premises.

Suit or suits for the recovery of any damages payable hereunder by Tenant, or any installments
thereof, may be brought by Landlord from time to time at its election, and nothing contained herein
shall require Landlord to postpone suit until the date when the Term would have expired but for
such termination or re-entry.

     6.06. Other Remedies. Nothing contained in this Lease 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. Anything in this Lease to the contrary notwithstanding, during
the continuation of any default by Tenant, Tenant shall not be entitled to exercise any rights or
options, or to receive any funds or proceeds being held, under or pursuant to this Lease.

     6.07. Right to Injunction. In the event of a breach or threatened breach by Tenant of any of
its obligations under this Lease, Landlord shall also have the right of injunction. The specified
remedies to which Landlord may resort hereunder are cumulative and are not intended to be exclusive
of any other remedies or means of redress to which Landlord may lawfully be entitled, and Landlord
may invoke any remedy allowed at law or in equity as if specific remedies were not herein provided
for.

     6.08. Certain Waivers. To the extent permitted by applicable Law, Tenant waives and
surrenders all right and privilege that Tenant might have under or by reason of any present or
future law to redeem the Premises or to have a continuance of this Lease after Tenant is
dispossessed or ejected therefrom by process of law or under the terms of this Lease or after any
termination of this Lease. To the extent permitted by applicable Law, Tenant also waives the
provisions of any law relating to notice and/or delay in levy of execution in case of any eviction
or dispossession for nonpayment of

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rent, and the provisions of any successor or other law of like import. Landlord and Tenant
each waive trial by jury in any action in connection with this Lease.

     6.09. No Waiver. Failure by either party to declare any default immediately upon its
occurrence or delay in taking any action in connection with such default shall not waive such
default but such party shall have the right to declare any such default at any time thereafter.
Any amounts paid by Tenant to Landlord or by Landlord to Tenant, as the case may be, may be applied
by the recipient thereof, in such party’s discretion, to any items then owing to such party by the
other party under this Lease. Receipt by Landlord or Tenant of a partial payment shall not be
deemed to be an accord and satisfaction (notwithstanding any endorsement or statement on any check
or any letter accompanying any check or payment) nor shall such receipt constitute a waiver by
Landlord or Tenant of the other party’s obligation to make full payment. No act or thing done by
Landlord or its agents shall be deemed an acceptance of a surrender of the Premises, and no
agreement to accept such surrender shall be valid unless in writing and signed by Landlord and by
each Superior Lessor and Superior Mortgagee whose lease or mortgage provides that any such
surrender may not be accepted without its consent.

     6.10. Holding Over. If Tenant holds over without the consent of Landlord after expiration or
termination of this Lease, Tenant shall (a) pay as holdover rental for each month of the holdover
tenancy an amount equal to 150% of the greater of (i) the fair market rental value of the Premises
for such month (as reasonably determined by Landlord) or (ii) the Rent which Tenant was obligated
to pay for the month immediately preceding the end of the Term; and (b) be liable to Landlord for
and indemnify Landlord against (i) any payment or rent concession which Landlord may be required to
make to any tenant obtained by Landlord for all or any part of the Premises (a “New
Tenant”) by reason of the late delivery of space to the New Tenant as a result of Tenant’s
holding over or in order to induce such New Tenant not to terminate its lease by reason of the
holding over by Tenant, (ii) if such holdover shall continue beyond the date which is thirty (30)
days after the date of expiration or sooner termination of this Lease, the loss of the benefit of
the bargain if any New Tenant shall terminate its lease by reason of the holding over by Tenant and
(iii) any claim for damages by any New Tenant. No holding over by Tenant after the Term shall
operate to extend the Term. Notwithstanding the foregoing, the acceptance of any rent paid by
Tenant pursuant to this Section 6.10 shall not preclude Landlord from commencing and
prosecuting a holdover or summary eviction proceeding.

     6.11. Attorneys’ Fees. If Landlord places the enforcement of this Lease or any part thereof,
or the collection of any Rent due or to become due hereunder, or recovery of the possession of the
Premises, in the hands of an attorney, or files suit upon the same, or in the event any bankruptcy,
insolvency or other similar proceeding is commenced involving Tenant, Tenant shall, upon demand,
reimburse Landlord for Landlord’s reasonable attorneys’ fees and disbursements and court costs.

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     6.12. Nonliability and Indemnification. (a) Neither Landlord, any Superior Lessor or any
Superior Mortgagee, nor any partner, member, director, officer, shareholder, principal, agent,
servant or employee of Landlord, any Superior Lessor or any Superior Mortgagee (whether disclosed
or undisclosed), shall be liable to Tenant for (i) any loss, injury or damage to Tenant or to any
other person, or to its or their property, irrespective of the cause of such injury, damage or
loss, nor shall the aforesaid parties be liable for any loss of or damage to property of Tenant or
of others entrusted to employees of Landlord; provided that, except to the extent of the
release of liability and waiver of subrogation provided in Section 7.03 hereof, the
foregoing shall not be deemed to relieve Landlord of any liability to the extent resulting from the
negligence of Landlord, its agents, servants or employees in the operation or maintenance of the
Premises or the Building, (ii) any loss, injury or damage described in clause (i) above
caused by other tenants or persons in, upon or about the Building, or caused by operations in
construction of any private, public or quasi-public work, or (iii) even if negligent, consequential
damages arising out of any loss of use of the Premises or any equipment, facilities or other
Tenant’s Property therein.

     (b) Tenant shall indemnify and hold harmless Landlord, all Superior Lessors and all Superior
Mortgagees and each of their respective partners, members, directors, officers, shareholders,
principals, agents and employees (each, an “Indemnified Party”), from and against any and
all claims arising from or in connection with (i) the conduct of business, or any work or thing
done, or any condition created, in or about the Premises, (ii) any act, omission or negligence of
Tenant or any person claiming through or under Tenant or any of their respective partners, members,
directors, officers, shareholders, principals, agents, employees or contractors in or about the
Project, (iii) any accident, injury or damage occurring in, at or upon the Premises, (iv) any
default by Tenant in the performance of Tenant’s obligations under this Lease and (v) any brokerage
commission or similar compensation claimed to be due by reason of any proposed subletting or
assignment by Tenant (irrespective of the exercise by Landlord of any of the options in Section
5.02(b)) together with all costs, expenses and liabilities incurred in connection with each
such claim or action or proceeding brought thereon, including, without limitation, all attorneys’
fees and disbursements; provided, that the foregoing indemnity shall not apply to the extent such
claim results from the negligence (other than negligence to which the release of liability and
waiver of subrogation provided in Section 7.03 below applies) or willful misconduct of the
Indemnified Party. If any action or proceeding is brought against any Indemnified Party by reason
of any such claim, Tenant, upon notice from such Indemnified Party shall resist and defend such
action or proceeding (by counsel reasonably satisfactory to such Indemnified Party).

     (c) Subject to the provisions of this Lease, including, without limitation, Section
7.03, Landlord agrees to indemnify and hold Tenant and Tenant’s partners, officers, directors,
agents and employees harmless from and against all third-party liability (statutory or otherwise),
claims, suits, demands, damages, judgments, costs, interest and expenses (including reasonable
counsel and other professional fees and disbursements incurred in any action or proceeding), but
only if and to the extent that the

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same shall be caused by (i) the negligence or willful misconduct of Landlord or of Landlord’s
agents in connection with any liability or claim for any injury to, or death of, any person or
persons, or damage to property (other than the property of Tenant) occurring in the public portions
or common areas of the Building or (ii) any default by Landlord in the performance of Landlord’s
obligations under this Lease.

ARTICLE 7.

INSURANCE; CASUALTY; CONDEMNATION

     7.01. Compliance with Insurance Standards. (a) Tenant shall not violate, or permit the
violation of, any condition imposed by any industry standard insurance policy then issued in
respect of the Project and shall not do, or permit anything to be done, or keep or permit anything
to be kept in the Premises, which would subject Landlord, any Superior Lessor or any Superior
Mortgagee to any liability or responsibility for personal injury or death or property damage, or
which would increase any insurance rate in respect of the Project over the rate which would
otherwise then be in effect or which would result in insurance companies of good standing refusing
to insure the Project in amounts reasonably satisfactory to Landlord, or which would result in the
cancellation of, or the assertion of any defense by the insurer in whole or in part to claims
under, any industry standard policy of insurance in respect of the Project.

     (b) If, by reason of any failure of Tenant to comply with this Lease, the premiums on
Landlord’s insurance on the Project shall be higher than they otherwise would be, Tenant shall
reimburse Landlord, on demand, for that part of such premiums attributable to such failure on the
part of Tenant. A schedule or “make up” of rates for the Project or the Premises, as the case may
be, issued by the New York Fire Insurance Rating Organization (or any successor organization
thereto) or other similar body making rates for insurance for the Project or the Premises, as the
case may be, shall be conclusive evidence of the facts therein stated and of the several items and
charges in the insurance rate then applicable to the Project or the Premises, as the case may be.

     7.02. Tenant’s and Landlord’s Insurance. (a) Tenant shall maintain at all times during the
Term (i) “all risk” property insurance covering all present and future Tenant’s Property and
Tenant’s Improvements and Betterments to a limit of not less than the full replacement cost
thereof, and (ii) commercial general liability insurance, including a contractual liability
endorsement, and personal injury liability coverage, in respect of the Premises and the conduct or
operation of business therein, with Landlord and its managing agent, if any, and each Superior
Lessor and Superior Mortgagee whose name and address shall have been furnished to Tenant, as
additional insureds, with limits of not less than $5,000,000 combined single limit for bodily
injury and property damage liability in any one occurrence, (iii) boiler and machinery insurance,
if there is a boiler, supplementary air conditioner or pressure object or similar equipment in the
Premises, with Landlord and its managing agent, if any, and each Superior Lessor and Superior
Mortgagee whose name and address shall have been furnished to Tenant, as additional insureds (but
not loss payees), with limits of not less than $5,000,000, (iv) when

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Alterations are in process, the insurance specified in Section 4.01(f) hereof and (v)
business interruption insurance in such amounts as will reimburse Tenant for direct and indirect
loss of earnings, for a period of twelve (12) months, attributable to all perils and casualties
commonly insured against by prudent tenants or attributable to prevention of access to the Premises
or the building as a result of such perils. The limits of such insurance shall not limit the
liability of Tenant. Tenant shall deliver to Landlord and any additional insureds, on or prior to
the Commencement Date, such fully paid-for policies or certificates of insurance, in form
reasonably satisfactory to Landlord and any Superior Lessor or Superior Mortgagee, issued by the
insurance company or its authorized agent. Tenant shall procure and pay for renewals of such
insurance from time to time before the expiration thereof, and Tenant shall deliver to Landlord and
any additional insureds such renewal policy or a certificate thereof at least 30 days before the
expiration of any existing policy. All such policies shall be issued by companies of recognized
responsibility licensed to do business in New York State and rated by Best’s Insurance Reports or
any successor publication of comparable standing as A-/VIII or better or the then equivalent of
such rating, and all such policies shall contain a provision whereby the same cannot be canceled,
allowed to lapse or modified unless Landlord and any additional insureds are given at least 30
days’ prior written notice of such cancellation, lapse or modification. The proceeds of policies
providing “all risk” property insurance of Tenant’s Property and Improvements and Betterments shall
be payable to Landlord, Tenant and each Superior Lessor and Superior Mortgagee as their interests
may appear. Tenant shall cooperate with Landlord in connection with the collection of any
insurance monies that may be due in the event of loss and Tenant shall execute and deliver to
Landlord such proof of loss and other instruments which may be required to recover any such
insurance monies. Landlord or any Superior Lessor or Superior Mortgagee may from time to time
require that the amount of the insurance to be maintained by Tenant under this Section 7.02
be increased to the amounts as are being customarily required by prudent landlords of first-class
office buildings in New York City.

     (b) Throughout the Term of this Lease, Landlord shall purchase and maintain property damage
insurance covering the Building and other improvements in and about the common areas in which
Landlord may have an insurable interest (but excluding any improvements required to be insured by
tenants, including Tenant, in the Building), providing protection against any peril included within
the classification “all risk” inclusive of standard fire and extended coverage insurance, including
endorsements against vandalism, malicious mischief and other perils, all in amounts not less than
one hundred percent (100%) of their full replacement cost. In addition, Landlord shall maintain
“boiler machinery” coverage (and a joint loss agreement if the boiler machinery coverage is issued
by a different insurance company than the basic property insurance). Landlord shall also maintain
public liability insurance with minimum limits of liability of at least $5,000,000 covering the
Building.

     7.03. Subrogation Waiver. Landlord and Tenant shall each include in each of its insurance
policies (insuring the Building in case of Landlord, and insuring Tenant’s Property and
Improvements and Betterments in the case of Tenant, against loss,

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damage or destruction by fire or other casualty) a waiver of the insurer’s right of
subrogation against the other party during the Term or, if such waiver should be unobtainable or
unenforceable, (a) an express agreement that such policy shall not be invalidated if the assured
waives the right of recovery against any party responsible for a casualty covered by the policy
before the casualty or (b) any other form of permission for the release of the other party. Each
party hereby releases the other party with respect to any claim (including a claim for negligence)
which it might otherwise have against the other party for loss, damage or destruction with respect
to its property occurring during the Term to the extent to which it is, or is required to be,
insured under a policy or policies containing a waiver of subrogation or permission to release
liability. Nothing contained in this Section 7.03 shall be deemed to relieve either party
of any duty imposed elsewhere in this Lease to repair, restore or rebuild or to nullify any
abatement of rents provided for elsewhere in this Lease.

     7.04. Condemnation. (a) If there shall be a total taking of the Building in condemnation
proceedings or by any right of eminent domain, this Lease and the term and estate hereby granted
shall terminate as of the date of taking of possession by the condemning authority and all Rent
shall be prorated and paid as of such termination date. If there shall be a taking of any material
(in Landlord’s reasonable judgment) portion of the Land or the Building (whether or not the
Premises are affected by such taking), then Landlord may terminate this Lease and the term and
estate granted hereby by giving notice to Tenant within 60 days after the date of taking of
possession by the condemning authority. If there shall be a taking of the Premises of such scope
(but in no event less than 20% thereof) that the untaken part of the Premises would in Tenant’s
reasonable judgment be unfit for the operation of Tenant’s business, then Tenant may terminate this
Lease and the term and estate granted hereby by giving notice to Landlord within 60 days after the
date of taking of possession by the condemning authority. If either Landlord or Tenant shall give
a termination notice as aforesaid, then this Lease and the term and estate granted hereby shall
terminate as of the date that is 60 days following the date of such notice and all Rent shall be
prorated and paid as of such termination date. In the event of a taking of the Premises which does
not result in the termination of this Lease (i) the term and estate hereby granted with respect to
the taken part of the Premises shall terminate as of the date of taking of possession by the
condemning authority and all Rent shall be appropriately abated for the period from such date to
the expiration Date and (ii) Landlord shall with reasonable diligence restore the remaining portion
of the Premises (exclusive of Tenant’s Property) as nearly as practicable to its condition prior to
such taking after receipt of the condemnation proceeds therefor.

     (b) In the event of any taking of all or a part of the Building, Landlord shall be entitled to
receive the entire award in the condemnation proceeding, including, without limitation, any award
made for the value of the estate vested by this Lease in Tenant or any value attributable to the
unexpired portion of the Term, and Tenant hereby assigns to Landlord any and all right, title and
interest of Tenant now or hereafter arising in or to any such award or any part thereof, and Tenant
shall be entitled to receive no part of such award; provided, that nothing shall preclude
Tenant from intervening in any such

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condemnation proceeding to claim or receive from the condemning authority any compensation to
which Tenant may otherwise lawfully be entitled in such case in respect of Tenant’s Property or
moving expenses, provided the same do not include any value of the estate vested by this Lease in
Tenant or of the unexpired portion of the Term and do not reduce the amount available to Landlord
or materially delay the payment thereof.

     (c) If all or any part of the Premises shall be taken for a limited period, Tenant shall be
entitled, except as hereinafter set forth, to that portion of the award for such taking which
represents compensation for the use and occupancy of the Premises, for the taking of Tenant’s
Property and for moving expenses, and Landlord shall be entitled to that portion which represents
reimbursement for the cost of restoration of the Premises. This Lease shall remain unaffected by
such taking and Tenant shall continue responsible for all of its obligations under this Lease to
the extent such obligations are not affected by such taking and shall continue to pay in full all
Rent when due. If the period of temporary use or occupancy shall extend beyond the Expiration
Date, that part of the award which represents compensation for the use and occupancy of the
Premises shall be apportioned between Landlord and Tenant as of the Expiration Date. Any award for
temporary use and occupancy for a period beyond the date to which the Rent has been paid shall be
paid to, held and applied by Landlord as a trust fund for payment of the Rent thereafter becoming
due.

     (d) In the event of any taking which does not result in termination of this Lease, (i)
Landlord, provided that the award actually received by Landlord shall be sufficient therefor, shall
proceed with reasonable diligence to repair the remaining parts of the Building and the Premises
(other than those parts of the Premises which constitute Tenant’s Property) to substantially their
former condition to the extent that the same may be feasible (subject to reasonable changes which
Landlord deems desirable) and so as to constitute a complete and rentable Building and Premises and
(ii) Tenant, whether or not any award shall be sufficient therefor, shall proceed with reasonable
diligence to repair the remaining parts of the Premises which constitute Tenant’s Property to
substantially their former condition to the extent that the same may be feasible, subject to
reasonable changes which shall be deemed Alterations.

     7.05. Casualty. (a) If the Building or the Premises shall be partially or totally damaged or
destroyed by fire or other casualty (each, a “Casualty”) and if this Lease is not
terminated as provided below, then (i) Landlord shall repair and restore the Building and the
Premises (including Tenant’s Improvements and Betterments to the extent the proceeds are sufficient
therefor but excluding Tenant’s Property) with reasonable dispatch (but Landlord shall not be
required to perform the same on an overtime or premium pay basis) after notice to Landlord of the
Casualty and the collection of the insurance proceeds attributable to such Casualty and (ii) Tenant
shall repair and restore in accordance with Section 4.01 all Tenant’s Property with
reasonable dispatch after the Casualty. The proceeds of insurance covering Tenant’s Improvements
and Betterments shall be paid to Landlord, and, concurrently with the collection of such insurance
proceeds, Tenant shall pay to Landlord (A) the amount of any deductible under

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the policy insuring Tenant’s Improvements and Betterments and (B) the amount, if any, by which
the cost of repairing and restoring Tenant’s Improvements and Betterments as estimated by a
reputable contractor designated by Landlord exceeds the available insurance proceeds therefor.

     (b) If all or part of the Premises shall be rendered untenantable by reason of a Casualty, the
Fixed Rent and the Additional Charges under Sections 2.04 and 2.05 shall be abated
in the proportion that the untenantable area of the Premises bears to the total area of the
Premises, for the period from the date of the Casualty to the earlier of (i) the date the Premises
is made tenantable (provided that if the Premises would have been tenantable at an earlier
date but for any act, neglect, failure or omission by Tenant, its agents, servants, employees,
contractors or subcontractors, or Tenant having failed to cooperate with Landlord in effecting
repairs or restoration or collecting insurance proceeds (including, without limitation, by reason
of Tenant failing to pay to Landlord the amounts set forth in clauses (A) and (B)
of Section 7.05(a)), then the Premises shall be deemed to have been made tenantable on such
earlier date and the abatement shall cease) or (ii) the date Tenant or any subtenant reoccupies a
portion of the Premises for the conduct of its business (in which case the Fixed Rent and the
Additional Charges allocable to such reoccupied portion shall be payable by Tenant from the date of
such occupancy). Landlord’s determination of the date the Premises is tenantable shall be
controlling unless Tenant disputes same by notice to Landlord within 10 days after such
determination by Landlord, and pending resolution of such dispute, Tenant shall pay Rent in
accordance with Landlord’s determination. If any Casualty shall occur after the Possession Date
but prior to the Base Space Rent Commencement Date which is the sole cause of an actual delay to
the substantial completion of Tenant’s initial Alterations performed to ready the Base Space for
Tenant’s initial occupancy, then the abatement of Fixed Rent and Additional Charges provided for in
this Section 7.05(b) with respect to the Base Space for the period from the date of such
Casualty to the Base Space Rent Commencement Date (which would otherwise be effective but for the
fact that the Base Space Rent Commencement Date has not yet occurred) shall apply with respect to
such Casualty commencing as of the Base Space Rent Commencement Date, but only to the extent of the
actual delay to the substantial completion of Tenant’s initial Alterations performed to ready the
Base Space for Tenant’s initial occupancy. If any such Casualty shall occur after the Swing Space
Possession Date but prior to the Swing Space Rent Commencement Date which is the sole cause of an
actual delay to the substantial completion of Tenant’s initial Alterations performed to ready the
Swing Space for Tenant’s initial occupancy, then the abatement of Fixed Rent and Additional Charges
provided for in this Section 7.05(b) with respect to the Swing Space for the period from
the date of such Casualty to the Swing Space Rent Commencement Date (which would otherwise be
effective but for the fact that the Swing Space Rent Commencement Date has not yet occurred) shall
apply with respect to such Casualty commencing as of the Swing Space Rent Commencement Date, but
only to the extent of the actual delay to the substantial completion of Tenant’s initial
Alterations performed to ready the Swing Space for Tenant’s initial occupancy. Notwithstanding the
foregoing, if by reason of any act or omission by Tenant, any subtenant or any of their respective
partners, directors, officers,

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servants, employees, agents, invitees or contractors, Landlord, any Superior Lessor or any
Superior Mortgagee shall be unable to collect all of the insurance proceeds (including, without
limitation, rent insurance proceeds) applicable to the Casualty, then, without prejudice to any
other remedies which may be available against Tenant, there shall be no abatement of Rent. Nothing
contained in this Section 7.05 shall relieve Tenant from any liability that may exist as a
result of any Casualty.

     (c) If by reason of a Casualty (i) the Building shall be totally damaged or destroyed, (ii)
the Building shall be so damaged or destroyed (whether or not the Premises are damaged or
destroyed) that repair or restoration shall require more than 270 days or the expenditure of more
than 20% percent of the full insurable value of the Building (which, for purposes of this
Section 7.05(c), shall mean replacement cost less the cost of footings, foundations and
other structures below the street and first floors of the Building) immediately prior to the
Casualty or (iii) more than 30% of the Premises shall be damaged or destroyed (as estimated in any
such case by a reputable independent contractor, architect or engineer designated by Landlord), and
in each such case Landlord shall have elected to terminate, or will terminate, leases which, when
combined with this Lease, are for an aggregate of 75% or more of the rentable square feet of the
office space in the Building, then in any such case Landlord may terminate this Lease upon 30 days
notice given to Tenant within 90 days after the Casualty

     (d) (i) As soon as reasonably practicable, but in any event no later than 60 days following
the date of any Casualty rendering any portion of the Premises untenantable, Landlord shall notify
Tenant of Landlord’s good faith best estimate of the date (the “Estimated Date”) by which
the repair and restoration necessary to render the Premises no longer untenantable can be completed
(“Landlord’s Repair Notice”). Notwithstanding anything herein to the contrary, if, by
reason of Casualty, (A) more than 50% of the rentable square footage of the Premises shall be
damaged or destroyed and rendered untenantable (or in the case of damage or destruction to the
public portions of the Building necessary for access to the Premises, more than 50% of the rentable
square footage of the Premises shall be rendered untenantable) and (B) the Estimated Date set forth
in Landlord’s Repair Notice with respect to such Casualty is after the date (the “Outside
Repair Date”) which is the 12 month anniversary of the date of such Casualty (a Casualty
meeting the requirements of the preceding subclauses (A) and (B) being a “Substantial
Casualty”), then, with respect to such Casualty, Tenant shall have a one time only right
(except as set forth in clause (ii) below) to terminate this Lease by notice (the
“Damage Termination Notice”) given to Landlord within 30 days following Landlord’s giving
of Landlord’s Repair Notice. Such termination shall be effective as of the date which is 30 days
after the Damage Termination Notice, and, upon delivery of such notice and the expiration of such
30-day period, this Lease and the Term hereof shall expire as fully and completely as if such date
were the original Expiration Date. Tenant’s failure to deliver the Damage Termination Notice in
the time and manner required by this clause (i) shall be deemed an irrevocable waiver of
Tenant’s right to terminate this lease pursuant to this clause (i) with respect to the
Casualty in question.

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          (ii) In addition, in the event of any Substantial Casualty, if the repair or restoration
necessary to render the Premises no longer untenantable is not substantially completed by the
Outside Repair Date, as such Outside Repair Date shall be extended due to delays caused or
occasioned by Force Majeure (up to a total of 3 months) or by Tenant Delay, then Tenant shall be
entitled to terminate this Lease by a Damage Termination Notice given to Landlord within 30 days
after the Outside Repair Date (as so extended) and, upon the giving of such notice, this Lease and
the term hereof shall expire effective on the 30th day after the giving of such notice (the
“Damage Termination Date”); provided, however, if Tenant delivers a Damage
Termination Notice pursuant to this clause (ii) to Landlord, then Landlord shall have the
right to suspend the occurrence of the Damage Termination Date for a period of 30 days after the
date of the Damage Termination Notice by delivering to Tenant, within 10 Business Days after
Landlord’s receipt of such Damage Termination Notice, a certificate of Landlord’s contractor
responsible for the repairs of such damage certifying that it is such contractor’s good faith
judgment that the repairs shall be substantially completed within 30 days after the date of the
Damage Termination Notice. If the repairs shall be substantially completed prior to the expiration
of such 30-day period, the Damage Termination Notice shall be null and void and of no force or
effect, and this Lease shall continue, but if the repairs shall not be substantially completed
within such 30-day period, then this Lease shall terminate upon the expiration of such 30-day
period. At any time, and from time to time (but not more than once in any 30-day period) after the
date occurring 60 days following the occurrence of any such Casualty, Tenant may request that
Landlord inform Tenant of Landlord’s reasonable opinion of the date of completion of repairs (which
date shall not be binding upon Landlord or give Tenant any right to terminate this Lease), and
Landlord shall respond to such request within ten (10) Business Days following receipt of such
request.

For purposes of this Section 7.05 the term “untenantable” shall mean that the portion of
the Premises to which such term applies is not usable (and is not then being used) by Tenant for
the conduct of the Tenant’s business, Except as expressly set forth in this Section
7.05(d), Tenant shall have no right or option to cancel or terminate this Lease by reason of a
Casualty.

     (e) Landlord shall not be required to carry any insurance on Tenant’s Property or on Tenant’s
Improvements and Betterments and shall not be obligated to repair or replace Tenant’s Property.
Tenant shall look solely to its insurance for recovery of any damage to or loss of Tenant’s
Property or Tenant’s Improvements and Betterments. Tenant shall notify Landlord promptly of any
Casualty in the Premises.

     (f) This Section 7.05 shall be deemed an express agreement governing any damage or
destruction of the Premises by fire or other casualty, and Section 227 of the New York Real
Property Law providing for such a contingency in the absence of an express agreement, and any other
law of like import now or hereafter in force, shall have no application.

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ARTICLE 8.

INITIAL IMPROVEMENTS; RENOVATIONS

     8.01. Landlord’s Work. (a) Landlord, or its designated contractor(s), at Landlord’s expense,
shall perform or cause to be performed the initial work as described on Exhibit G annexed
hereto (“Landlord’s Initial Work”) in the Premises. With respect to the Base Space,
Landlord or its designated contractor(s) shall commence Landlord’s Initial Work promptly after the
Commencement Date and diligently prosecute same to completion. With respect to the Swing Space,
Tenant shall give to Landlord at least 10 Business Days’ prior written notice of the date Tenant
reasonably anticipates that Tenant will vacate the Swing Space pursuant to Section 1.08
hereof. Subject to the receipt of such notice and Tenant actually vacating the Swing Space within
10 Business Days after such notice, Landlord or its designated contractor(s) shall commence
Landlord’s Initial Work in the Swing Space promptly after Tenant vacates the Swing Space in
accordance with Section 1.08 and diligently prosecute same to completion. If Tenant
exercises the Expansion Option pursuant to Section 1.05, Landlord, or its designated
contractor(s), at Landlord’s expense, shall perform or cause to be performed promptly and in a
diligent manner, Landlord’s Initial Work with respect to the Expansion Space.

     (b) During Tenant’s performance of its initial Alterations with respect to each floor of the
Premises, and as part of such Alterations, Tenant shall cause the Building lavatories located on
such floor of the Premises to substantially comply with the relevant requirements of the Americans
with Disabilities Act.

     (c) Tenant shall accept the Premises in its “as is” condition on the Commencement Date,
subject only to Landlord’s performance of Landlord’s Initial Work, and Landlord shall not be
required to perform or cause the performance of any other work to ready the Premises for Tenant’s
occupancy, except that Landlord shall provide fiber optic and high speed Internet access
capabilities to the Swing space as required pursuant to Section 1.08(d) hereof. All
initial improvements which do not constitute Landlord’s Initial Work shall constitute Alterations
and shall be performed by Tenant at Tenant’s expense in accordance with Section 4.01. The
provisions of Sections 1.06 and 1.07 shall supersede the provisions of this Section
8.01 with regard to Landlord’s obligation to perform Landlord’s Initial Work in any Refusal Space
or Offer Space which may become a part of the Premises.

     (d) The “Possession Date” means the earlier to occur of (y) the date on which Landlord
tenders vacant possession of the Base Space to Tenant with Landlord’s Initial Work substantially
completed with respect to the Base Space (but not any other portion of the Premises, including,
without limitation, the Swing Space) and (z) the date Tenant takes possession of any part of the
Base Space for the performance of Alterations or for any other reason. Landlord’s Initial Work
with respect to the Base Space, Swing Space or Expansion Space, as the case may be, shall be deemed
to have been substantially completed on the date on which Landlord’s Initial Work has been
completed

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in the Base Space, Swing Space or Expansion Space, as the case may be, other than (A) minor
details or adjustments, (B) items which, in accordance with good construction practice, should be
performed after completion of Tenant’s initial Alterations and (C) any part of Landlord’s Initial
Work that is not completed due to Tenant Delay.

     8.02. Tenant Delay. The term “Tenant Delay” shall mean any delay that Landlord may
encounter in commencing or performing any of Landlord’s obligations under this Lease, including,
without limitation, Landlord’s Initial Work (or any portion thereof) or Landlord’s other
obligations pursuant to this Article 8 by reason of any act, neglect, failure or omission
by Tenant, its agents, servants, employees, contractors or subcontractors, including, without
limitation, delays due to changes in or additions to Landlord’s Initial Work requested by Tenant,
delays in the submission of information or plans by Tenant to Landlord, delays in the giving of any
authorizations or approvals by Tenant to Landlord and/or delays due to corrections made, or
required to be made, by Landlord due to any information or plans submitted to Landlord.

     8.03. Landlord’s Contribution. (a) Landlord shall reimburse Tenant for the cost of Initial
Tenant Work in an amount (the “Landlord’s Contribution”) equal to the lesser of (i)
$1,101,000.00, or (ii) the actual cost of Initial Tenant Work, upon the following terms and
conditions:

          (A) The cost of the Initial Tenant Work shall be paid by Landlord and Tenant, pro-rata, with
Landlord paying the proportion which the amount of Landlord’s Contribution bears to the cost of the
Initial Tenant Work and Tenant paying the balance, until such time as Landlord has contributed an
amount equal to the Landlord’s Contribution with respect to the Initial Tenant Work. With respect
to each of the Base Space, the Swing Space and, if applicable, the Expansion Space, the Landlord’s
Contribution shall be payable to Tenant in installments as initial Tenant Work progresses in such
space, but in no event more frequently than monthly or more than 5 times in the aggregate (plus a
disbursement for any retainages required hereunder) with respect to the Initial Tenant Work
performed in each such space.

          (B) Prior to the payment of any installment, Tenant shall deliver to Landlord a request for
disbursement which shall be accompanied by (x) paid invoices for the Initial Tenant Work performed
or incurred since the last disbursement of the Landlord’s Contribution, (y) a certificate signed by
Tenant’s architect and an officer of Tenant certifying that the Initial Tenant Work and services
represented by the aforesaid invoices have been satisfactorily completed in accordance with the
plans and specifications therefor approved by Landlord, and (z) partial lien waivers by architects,
contractors, subcontractors and all materialmen for all work and services which were the subject of
previous disbursements from Landlord’s Contribution. Landlord shall be permitted to retain from
the portion of each disbursement required to be paid from Landlord’s Contribution an amount equal
to 10% of such portion of the amount requested to be disbursed by Tenant (except for the final
payment to be made to any contractor who shall have delivered a final lien waiver, with respect to
which Landlord shall not retain

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such 10% portion). The aggregate amount of the retainages shall be paid by Landlord to Tenant
upon the completion of all Initial Tenant Work and upon receipt from Tenant of (1) a certificate
signed by Tenant’s architect and an officer of Tenant certifying that all Initial Tenant Work has
been satisfactorily completed in accordance with the plans and specifications therefor approved by
Landlord, (2) all Building Department sign-offs and inspection certificates and any permits
required to be issued by the Building Department or any other governmental entities having
jurisdiction thereover, and (3) a general release from all contractors and subcontractors
performing initial Tenant Work releasing Landlord and Tenant from all liability for any Initial
Tenant Work. Notwithstanding the foregoing, if at the time of disbursement of the remainder of
Landlord’s Contribution, Tenant has a dispute with one or more contractors, subcontractors or
material suppliers, then Landlord shall disburse the unpaid portion of Landlord’s Contribution to
the extent of the final lien waivers actually received less 25% of the amount remaining due to the
contractors, subcontractors or material suppliers from which such final lien waivers were not
received (Landlord also retaining the amount so remaining due), and shall disburse from the
remainder thereof the amount finally determined to be due when the dispute(s) with the contractors,
subcontractors and/or material suppliers have been resolved and final lien waivers are actually
received from such party or parties. Each installment of Landlord’s Contribution shall be made to
Tenant within 30 days next following the delivery to Landlord of the documentation described above
(the “Documentation”), provided that the Documentation is submitted to Landlord on or
before the 10th day of a month, and in the event the Documentation is submitted at any time after
the 10th day of any given month, Landlord’s payment shall be made on or before the end of the month
following the month in which Tenant submits the Documentation.

          (C) Tenant is not then in default in the payment of Rent and no other Event of Default shall
have occurred and be continuing.

     (b) “Initial Tenant Work” means the installation of fixtures, improvements and
appurtenances attached to or built into the Premises as part of Tenant’s initial Alterations
performed to ready the Premises for Tenant’s initial occupancy thereof and shall not include
movable partitions, business and trade fixtures, machinery, equipment, furniture, furnishings and
other articles of personal property.

     (c) The right to receive reimbursement for the cost of Initial Tenant Work as set forth in
this Section 8.03 shall be for the exclusive benefit of Tenant, it being the express intent
of the parties hereto that in no event shall such right be conferred upon or for the benefit of any
third party, including, without limitation, any contractor, subcontractor, materialman, laborer,
architect, engineer, attorney or any other person, firm or entity.

     8.04. Landlord Performance of Initial Tenant Work. Tenant shall give Landlord the right to
elect to bid, or cause Landlord’s designated contractor to bid, for the performance of the
Alterations to ready the Premises for Tenant’s initial occupancy, on a competitive basis and on the
same terms as any other contractor from

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whom Tenant requests bids for the performance of such Alterations; provided, that
Tenant shall have no obligation to accept Landlord’s bid or the bid of Landlord’s designated
contractor even if such bids are the lowest received by Tenant.

     8.05. Landlord’s Base Building Work. Subject to applicable Laws, Landlord, at Landlord’s
expense, shall perform or cause to be performed the work described on Exhibit J annexed
hereto and made a part hereof (“Landlord’s Base Building Work”). Landlord undertakes to
promptly apply for and diligently seek to obtain all governmental approvals, including, without
limitation, approvals of the Landmarks Preservation Commission, required for the performance of the
Landlord’s Base Building Work and, after obtaining such approvals, to promptly commence and
diligently prosecute Landlord’s Base Building Work to completion. Landlord shall exercise such
diligent efforts to complete the respective aspects of Landlord’s Base Building Work by the
respective dates set forth on Exhibit J, subject to Force Majeure, but the failure to
complete any aspect of Landlord’s Base Building Work by the applicable date set forth on
Exhibit J shall not give Tenant a right to any abatement, credit, deduction or offset
against the Rent payable pursuant to this Lease, or to the imposition of any penalties against
Landlord, and Tenant’s sole remedy for Landlord’s failure to complete any aspect of Landlord’s Base
Building Work shall be to bring an action against Landlord for specific performance of such work.
With respect to the Landlord’s Base Building Work to the facade of the Building as described on
Exhibit J, (a) Landlord shall, to the extent practicable and permitted by applicable Law,
give priority to the facade adjacent to those floors of the Building comprising the Premises, (b)
with respect to any windows removed from a particular office in the Premises, Landlord shall
replace such windows within forty-eight (48) hours after removal, subject to Force Majeure and (c)
Landlord shall perform the facade work in a limited number of offices within the Premises at any
one time. With respect to the Landlord’s Base Building Work to renovate the interior of the
elevator cabs serving the Premises as described on Exhibit J, Landlord agrees that not more
that one elevator at a time shall be taken out of service for the purpose of performing such work.
All Landlord’s Base Building Work shall be of a design, and comprised of materials, determined by
Landlord in its sole and absolute discretion.

ARTICLE 9.

MISCELLANEOUS PROVISIONS

     9.01. Notice. All notices, demands, consents, approvals, advices, waivers or other
communications which may or are required to be given by either party to the other under this Lease
shall be in writing and shall be deemed to have been given one Business Day after deposit in the
United States mail, certified or registered, postage prepaid, return receipt requested, and
addressed to the party to be notified at the address for such party specified in the first
paragraph of this Lease or to such other place as the party to be notified may from time to time
designate by at least 5 days’ notice to the notifying party (and (a), in the case of each notice to
Landlord, to the attention of Mr. Aby Rosen with copies to (i) Landlord’s address specified in the
first paragraph of this

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Lease, Attention: General Counsel, and (ii) Fried, Frank, Harris, Shriver & Jacobson, One New
York Plaza, New York, New York 10004, Attention: Robert J. Sorin, Esq. and (b), in the case of each
notice to Tenant, to the attention of Office Manager with copies to (i) Tenant’s address specified
in the first paragraph of this Lease as Tenant’s address prior to the commencement of the Term,
Attention: Mr. Michael Huaco, and (ii) Proskauer Rose LLP, 1585 Broadway, New York, NY 10036,
Attention: Lawrence J. Lipson, Esq.). Notices from either party may be given by their respective
attorney.

     9.02. Building Rules. Tenant shall comply with, and Tenant shall cause its licensees,
employees, contractors, agents and invitees to comply with, the rules of the Building set forth in
the Tenant Manual, as the same may be reasonably modified or supplemented by Landlord from time to
time for the safety, care and cleanliness of the Premises and the Building and for preservation of
good order therein. Landlord shall not be obligated to enforce the rules of the Building against
Tenant or any other tenant of the Building or any other party, and Landlord shall have no liability
to Tenant by reason of the violation by any tenant or other party of the rules of the Building;
provided, that Landlord shall not enforce the rules of the Building in a manner which
discriminates against Tenant. If any rule of the Building shall conflict with any provision of
this Lease, such provision of this Lease shall govern.

     9.03. Severability. If any term or provision of this Lease, or the application thereof to any
person or circumstances shall to any extent be invalid or unenforceable, the remainder of this
Lease, or the application of such provision to persons or circumstances other than those as to
which it is invalid or unenforceable, shall not be affected, and each provision of this Lease shall
be valid and shall be enforceable to the extent permitted by law.

     9.04. Certain Definitions. (a) “Landlord” means only the owner, at the time in
question, of the Building or that portion of the Building of which the Premises are a part, or of a
lease of the Building or that portion of the Building of which the Premises are a part, so that in
the event of any transfer or transfers of title to the Building or of Landlord’s interest in a
lease of the Building or such portion of the Building, the transferor shall be and hereby is
relieved and freed of all obligations of Landlord under this Lease accruing after such transfer,
and it shall be deemed, without further agreement, that such transferee has assumed all obligations
of Landlord during the period it is the holder of Landlord’s interest under this Lease.

     (b) “Landlord shall have no liability to Tenant” or words of similar import mean that Tenant
is not entitled to terminate this Lease, or to claim actual or constructive eviction, partial, or
total, or to receive any abatement or diminution of Rent (except as expressly set forth in
Section 9.24 hereof), or to be relieved in any manner or any of its other obligations under
this Lease, or to be compensated for loss or injury suffered or to enforce any other right or kind
of liability whatsoever against Landlord under or with respect to this Lease or with respect to
Tenant’s use or occupancy of the Premises.

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     9.05. Quiet Enjoyment. Tenant shall and may peaceably and quietly have, hold and enjoy the
Premises, subject to the other terms of this Lease and to Superior Leases and Superior Mortgages,
provided that this Lease is in full force and effect.

     9.06. Limitation of Landlord’s Personal Liability. Tenant shall look solely to Landlord’s
interest (or the sales proceeds thereof, but not insurance or condemnation proceeds) in the Project
for the recovery of any judgment against Landlord, and no other property or assets of Landlord or
Landlord’s partners, officers, directors, shareholders or principals, direct or indirect, disclosed
or undisclosed, shall be subject to levy, execution or other enforcement procedure for the
satisfaction of Tenant’s remedies under or with respect to this Lease.

     9.07. Counterclaims. If Landlord commences any summary proceeding or action for nonpayment of
Rent or to recover possession of the Premises, Tenant shall not interpose any counterclaim of any
nature or description in any such proceeding or action, unless Tenant’s failure to interpose such
counterclaim in such proceeding or action would result in the waiver of Tenant’s right to bring
such claim in a separate proceeding under applicable law.

     9.08. Survival. All obligations and liabilities of Landlord or Tenant to the other which
accrued before the expiration or other termination of this Lease and all such obligations and
liabilities which by their nature or under the circumstances can only be, or by the provisions of
this Lease may be, performed after such expiration or other termination, shall survive the
expiration or other termination of this Lease. Without limiting the generality of the foregoing,
the rights and obligations of the parties with respect to any indemnity under this Lease, and with
respect to Tax Payments, Operating Payments and any other amounts payable under this Lease, shall
survive the expiration or other termination of this Lease.

     9.09. Certain Remedies. If Tenant requests Landlord’s consent and Landlord fails or refuses
to give such consent, Tenant shall not be entitled to any damages for any withholding by Landlord
of its consent, it being intended that Tenant’s sole remedy shall be an action for specific
performance or injunction or declaratory judgment, and that such remedy shall be available only in
those cases where this Lease provides that Landlord shall not unreasonably withhold its consent
unless Landlord is found by final non-appealable judgment in such action to have withheld its
consent maliciously or in bad faith, in which event Tenant shall be entitled to sue for damages.
No dispute relating to this Lease or the relationship of Landlord and Tenant under this Lease shall
be resolved by arbitration except as expressly provided for in Section 9.22 below.

     9.10. No Offer. The submission by Landlord of this Lease in draft form shall be solely for
Tenant’s consideration and not for acceptance and execution. Such submission shall have no binding
force or effect and shall confer no rights nor impose

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any obligations, including brokerage obligations, on either party unless and until both
Landlord and Tenant shall have executed a lease and duplicate originals thereof shall have been
delivered to the respective parties.

     9.11. Captions; Construction. The table of contents, captions, headings and titles in this
Lease are solely for convenience of reference and shall not affect its interpretation. This Lease
shall be construed without regard to any presumption or other rule requiring construction against
the party causing this Lease to be drafted. Each covenant, agreement, obligation or other
provision of this Lease on Tenant’s part to be performed, shall be deemed and construed as a
separate and independent covenant of Tenant, not dependent on any other provision of this Lease.

     9.12. Amendments. This Lease may not be altered, changed or amended, except by an instrument
in writing signed by the party to be charged.

     9.13. Broker. Each party represents to the other that such party has dealt with no broker
other than Cushman & Wakefield, Inc. (“Broker”) in connection with this Lease or the
Building, and each party shall indemnify and hold the other harmless from and against all loss,
cost, liability and expense (including, without limitation, reasonable attorneys’ fees and
disbursements) arising out of any claim for a commission or other compensation by any broker other
than Broker who alleges that it has dealt with the indemnifying party in connection with this Lease
or the Building. Landlord shall enter into a separate agreement with Broker which provides that,
if this Lease is executed and delivered by both Landlord and Tenant, Landlord shall pay to Broker a
commission to be agreed upon between Landlord and Broker, subject to, and in accordance with, the
terms and conditions of such agreement. Landlord shall indemnify and hold Tenant harmless from and
against all loss, cost, liability and expense (including, without limitation, reasonable attorneys’
fees and disbursements) arising out of the failure of Landlord to pay any commission or other
compensation due Broker in connection with this Lease pursuant to a separate written agreement
between Landlord and Broker.

     9.14. Merger. Tenant acknowledges that neither Landlord, its managing agent nor Broker has
made or is making, and Tenant, in executing and delivering this Lease, is not relying upon, any
warranties, representations, promises or statements, except to the extent that the same are
expressly set forth in this Lease. This Lease embodies the entire understanding between the
parties with respect to the subject matter hereof and all prior agreements, understanding and
statements, oral or written, with respect thereto are merged in this Lease.

     9.15. Successors. This Lease shall be binding upon and inure to the benefit of Landlord, its
successors and assigns, and shall be binding upon and inure to the benefit of Tenant, its
successors, and to the extent that an assignment may be approved by Landlord, Tenant’s assigns.

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     9.16. Applicable Law. This Lease shall be governed by, and construed in accordance with, the
laws of the State of New York, without giving effect to any principles of conflicts of laws.

     9.17. No Development Rights. Tenant acknowledges that it has no rights to any development
rights, air rights or comparable rights appurtenant to the Project, and Tenant consents, without
further consideration, to any utilization of such rights by Landlord. Tenant shall promptly
execute and deliver any instruments which may be requested by Landlord, including instruments
merging zoning lots, evidencing such acknowledgment and consent. The provisions of this
Section 9.17 shall be construed as an express waiver by Tenant of any interest Tenant may
have as a “party in interest” (as such term is defined in Section 12-10 Zoning Lot of the Zoning
Resolution of the City of New York) in the Project.

     9.18. Landmark Notification. Tenant is hereby notified that the Premises are subject to the
jurisdiction of the Landmarks Preservation Commission. In accordance with sections 25-305, 25-306,
25-309 and 25-310 of the Administrative Code of the City of New York and the rules set forth in
Title 63 of the Rules of the City of New York, any demolition, construction, reconstruction,
alteration or minor work as described in such sections and such rules may not be commenced within
or at the Premises without the prior written approval of the Landmarks Preservation Commission.
Tenant is notified that such demolition, construction, reconstruction, alterations or minor work
includes, but is not limited to, (a) work to the exterior of the Premises involving windows, signs,
awnings, flagpoles, banners and storefront alterations and (b) interior work to the Premises that
(i) requires a permit from the Department of Buildings or (ii) changes, destroys or affects an
interior architectural feature of an interior landmark or an exterior architectural feature of an
improvement that is a landmark or located on a landmark site or in a historic district.

     9.19. Roof Equipment. (a) Subject to Landlord’s prior approval, not to be unreasonably
withheld or delayed, Tenant shall have the right, subject to and in accordance with the provisions
of this Section 9.19, to use the portion of the roof of the Building substantially as shown
hatched on Exhibit H to install, maintain and operate, at its sole cost and expense,
communication equipment (collectively, the “Roof Equipment”). Tenant shall pay to
Landlord, as Additional Charges, a fee for the use of such portion of the roof of the Building at
the rate charged by Landlord therefor from time to time, which rate shall be commercially
reasonable for similarly situated first class commercial buildings located in midtown Manhattan.
Tenant shall furnish detailed plans and specifications for the Roof Equipment (or any modification
thereof) to Landlord for its approval. Tenant’s use of the rooftop of the Building shall be a
non-exclusive use and Landlord may permit the use of any other portion of the roof to any other
person for any use including installation of other communication equipment provided that the same
does not materially and adversely affect Tenant’s use of the Roof Equipment. Tenant shall use its
reasonable efforts to insure that its use of the rooftop does not impair such other

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person’s data transmission and reception via its respective communication equipment. If
Tenant’s construction, installation, maintenance, repair, operation or use of the Roof Equipment
shall interfere with the rights of Landlord (including, without limitation, Landlord’s right to use
the remainder of the roof) or other tenants in the Building, Tenant shall reasonably cooperate with
Landlord or such other tenants in eliminating such interference; provided, however,
the cost of remedying such interference shall be borne by the party which is suffering such
interference, unless such party was using the affected equipment prior to the use of the Roof
Equipment by Tenant, in which case the cost of remedying such interference shall be borne by
Tenant; and provided, further that such remedy shall not materially and adversely
affect Tenant’s use of the Roof Equipment. Tenant shall secure and keep in full force and effect,
from and after the time Tenant begins construction and installation of the Roof Equipment, such
supplementary insurance with respect to the Roof Equipment as Landlord may reasonably require.
Tenant shall pay any additional or increased insurance premiums incurred by Landlord with respect
to the Roof Equipment.

     (b) In connection with the installation, maintenance and operation of the Roof Equipment,
Tenant, at Tenant’s sole cost and expense, shall comply with all Laws, including, without
limitation, any requirement to install screening surrounding such installations, and shall procure,
maintain and pay for all permits required therefor, and Landlord makes no warranties whatsoever as
to the permissibility of Roof Equipment under applicable Laws or the suitability of the roof of the
Building for the installation thereof. If Landlord’s structural engineer deems it advisable that
there be structural reinforcement of the roof in connection with the installation of the Roof
Equipment Landlord shall perform same at Tenants’ cost and expense and Tenant shall not perform any
such installation prior to the completion of any such structural
reinforcement. The installation of
the Roof Equipment shall be subject to the provisions of Section 4.01 applicable to
Alterations. For the purpose of installing, servicing or repairing the Roof Equipment, Tenant
shall have access to the rooftop of the Building at reasonable times upon reasonable notice to
Landlord and Landlord shall have the right to require, as a condition to such access, that Tenant
(or its employee, contractor or other representative) at all times be accompanied by a
representative of Landlord. Unless the electricity consumed by the Roof Equipment is included on
Tenant’s submeters, Landlord shall reasonably estimate the electricity consumed by the Roof
Equipment and Tenant shall pay to Landlord on the first day of each month the amount so determined
by Landlord.

     (c) Tenant, at its sole cost and expense, shall promptly repair any and all damage to the
rooftop or to any other part of the Building caused by the installation, maintenance, repair,
operation or removal of the Roof Equipment. Tenant shall be responsible for all costs and expenses
for repairs and maintenance of the roof which result from Tenants use of the roof for the
construction, installation, maintenance, repair, operation and use of the Roof Equipment. All
installations made by Tenant on the rooftop or in any other part of the Building pursuant to the
provisions of this Section 9.19 shall be at the sole risk of Tenant, and neither Landlord,
nor any agent or employee of Landlord, shall be responsible or liable for any injury or damage to,
or arising out of, the

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Roof Equipment. Tenant’s indemnity under Section 6.12 shall apply with respect to the
installation, maintenance, operation, repair, presence or removal of the Roof Equipment.

     (d) Upon the expiration of the Term, the Roof Equipment shall be removed by Tenant at its sole
cost and expense, and Tenant shall repair any damage to and restore the rooftop or any other
portions of the Building to their condition existing immediately prior to Tenant’s installation of
the Roof Equipment.

     (e) Notwithstanding anything to the contrary contained in this Section 9.19, Landlord
shall have the right, at Landlord’s sole cost and expense (which cost and expense shall not
constitute an Operating Expense), to relocate the Roof Equipment to another location on the roof of
the Building, provided that Landlord does not, except on a temporary basis, unreasonably interfere
with Tenant’s use of the Roof Equipment or materially adversely affect the receipt of and/or
transmittal of microwaves or other similar signals, and Tenant shall cooperate in all reasonable
respects with Landlord in any such relocation; provided that if such reallocation is done
pursuant to any Law, the cost thereof shall be borne by Tenant.

     (f) The rights granted in this Section 9.19 are given in connection with, and as part
of the rights created under, this Lease and are not separately transferable or assignable but shall
inure to and benefit Tenant and its permitted successors and assigns. Tenant shall use the Roof
Equipment solely in connection with activities permitted under Section 1.04. Tenant shall
not sell any services arising out of the use of the Roof Equipment (A) to any other tenant or
occupant of the Building (other than subtenants of Tenant) or (B) to the general public.

     (g) If at the time Tenant submits Tenant’s plans and specifications for the Roof Equipment to
Landlord, Tenant specifically requests in writing that Landlord identify any aspects of such Roof
Equipment or the installation thereof which could revoke, negate or in any manner impair or limit
any roof warranty or guaranty obtained by Landlord, then, at the time Landlord responds to such
plans and specifications, Landlord shall so identify such aspects to Tenant. If the installation
of the Roof Equipment or act or omission relating thereto should revoke, negate or in any manner
impair or limit any roof warranty or guaranty obtained by Landlord, then Tenant shall reimburse
Landlord for any loss or damage sustained or costs or expenses incurred by Landlord as a result of
such impairment or limitation, except to the extent that (i) Tenant made the request of Landlord at
the time and in the manner set forth in the first sentence of this Section 9.19(g), (ii)
such revocation, negation, impairment or limitation occurred by reason of a condition depicted on
Tenant’s plans and specifications and (iii) Landlord failed to notify Tenant that such condition
could revoke, negate or in any manner impair or limit any roof warranty or guaranty obtained by
Landlord.

     9.20. Signage. (a) Provided and for so long as the Named Tenant, any Affiliate of the Named
Tenant and/or any Named Tenant Permitted Assignee, and any Desk Space User permitted pursuant to
Section 5.01(d) hereof, is in actual occupancy of

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at least six (6) full floors within the Building and no Event of Default has occurred and is
continuing, the Named Tenant or such Named Tenant Permitted Assignee, as the case may be, may
install and maintain a sign containing the corporate name and/or logo of the Named Tenant (or,
subject to Landlord’s consent not to be unreasonably withheld provided the corporate name and/or
logo of such Named Tenant Permitted Assignee shall conform with the first-class nature and landmark
status of the Building, the corporate name and/or logo of such named Tenant Permitted Assignee)
within the portion of the plaza of the Building substantially shown as hatched on Exhibit
I. The layout, design, size, dimension, materials and exact location of the sign shall be
subject to Landlord’s prior written consent, not to be unreasonably withheld provided the same
shall conform with the first-class nature and landmark status of the Building. In addition, the
signage rights granted to Tenant pursuant to this Section 9.20 shall be subject to Tenant’s
compliance with all applicable Laws and Tenant’s obtaining the consent or approval from any
governmental authority which may be required, including, without limitation, the consent and
approval of the Landmarks Preservation Commission; provided, that if Tenant requests that
Landlord obtain such consents or approvals, Landlord shall obtain such consents or approvals, at
Tenant’s sole Cost and expense, and Tenant shall reimburse Landlord for any costs and expenses
incurred by Landlord within 20 days after Landlord’s demand therefor; and provided,
further, that Landlord shall have no liability to Tenant for any failure of Landlord to
timely obtain such consents or approvals. Once approved by Landlord, Tenant shall not change the
layout, design, size, dimension, materials and exact location of the sign without Landlord’s
consent, not to be unreasonably withheld provided the same shall conform with the first-class
nature and landmark Status of the Building.

     (b) Tenant covenants and agrees that on the expiration or sooner termination of the Term, or
if the Named Tenant, any Affiliate of the Named Tenant and/or any Named Tenant Permitted Assignee,
and any Desk Space User permitted pursuant to Section 5.01(d) hereof, shall not be in
actual occupancy of at least six (6) full floors within the Building, Tenant, at Tenant’s sole cost
and expense, shall promptly (i) remove the sign installed or displayed by or on behalf of Tenant,
(ii) repair, in a good and workmanlike manner in conformity with Laws and all applicable provisions
of this Lease, all damage caused by such removal and (iii) restore the affecting portion of the
plaza of the Building to the condition in which it existed prior to the installation of such sign.

     (c) The rights granted in this Section 9.20 are available only to the Named Tenant
(and subject to Section 9.20(a) hereof, the Named Tenant Permitted Assignee), and are not
available to, and may not be exercised by, any subtenant, assignee or other entity claiming by,
through or under the Named Tenant.

     9.21. Emergency Generator. (a) To the extent permitted by Law, Tenant may, at Tenant’s sole
cost and expense, install an emergency generator, together with all required controls, wiring,
distribution and other ancillary equipment normally associated therewith, including a fuel tank,
and risers to connect such fuel tank to

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Tenant’s emergency generator, all in a location or locations in the Building to be reasonably
selected by Landlord and reasonably acceptable to Tenant, Tenant shall pay to Landlord, as
Additional Charges, a fee for the use of any such space in the Building at the rate charged by
Landlord therefor from time to time, which rate shall be commercially reasonable for similarly
situated first class commercial buildings located in midtown Manhattan. Tenant may replace or
modify such equipment (and modify Tenant’s electrical distribution system connected to such
generator) from time to time during the Term, subject to the provisions of this Lease.

     (b) Any work to install the emergency generator and its related controls, wiring, distribution
and other equipment shall be done as an Alteration. Any installation, maintenance, repair and
replacement of such equipment shall be done at Tenant’s expense, and Landlord shall have no
liability in respect thereof. No installation on a Building setback may be closer than 5 feet to
the parapet wall, and any installation shall provide for adequate drainage and decking and be done
in a manner to provide that such equipment shall not cause unreasonable noise, unreasonable
vibration or other unreasonable interference with any other occupants of the Building or the
operation of the Building. Any reinforcement of the setback area or other reasonable requirements
of Landlord’s structural engineer required as a result of Tenant’s installation shall be performed
by Landlord at Tenant’s reasonable expense. Landlord may at all times use the area in which the
emergency generator is located in connection with any cleaning, maintenance, repair or operation of
the Building, and Landlord shall have no liability to Tenant by reason thereof. Subject to
Section 7.03, Tenant shall be responsible for all damage to persons or property which
results from Tenant’s use of the emergency generator, except to the extent caused by the negligence
or willful misconduct of any Indemnified Party. Landlord makes no warranty to Tenant as to the
permissibility under Laws of using the area designated for the emergency generator for any purpose
permitted under this Lease or as to the suitability of such area for any such purpose. Tenant
shall comply with all Laws applicable to the equipment so installed and Tenant’s use thereof Tenant
shall secure and keep in full force and effect, from and after the time Tenant begins installation
of such equipment, such supplementary insurance with respect to such equipment as Landlord may
reasonably require, provided that the same shall not be in excess of that which would customarily
be required from time to time by landlords of buildings of similar class and character in New York
City with respect to similar installations.

     (c) Landlord shall give Tenant reasonable access to the emergency generator so as to permit
Tenant to install, operate, maintain, repair and replace same and to connect it to the Premises;
provided, that, in any such case, Tenant shall be accompanied by a representative of
Landlord who shall be made available to Tenant at reasonable times upon reasonable advance notice
from Tenant, Landlord may at any time and from time to time during the Term (but only after such
prior notice, if any, as is reasonable under the circumstances) at Tenant’s reasonable expense,
temporarily disconnect and remove Tenant’s emergency generator if reasonably required in order to
access the Building emergency generator or other emergency generators at such location,

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in which event, upon completion of Landlord’s work, Landlord shall, at Tenant’s reasonable
expense, re-install the same in substantially its original location.

     (d) To the extent practicable in Landlord’s reasonable judgment, Tenant may, at Tenant’s sole
cost and expense, in a location or locations in the Building to be reasonably selected by Landlord
and reasonably acceptable to Tenant, connect Tenant’s emergency generator to the Building’s
existing cooling tower fan and condenser water pump so as to be able to provide power on an
emergency or overtime basis to the same. Landlord and Tenant agree to cooperate with each other in
connection with the provisions of this Section 9.21(d).

     9.22. Arbitration. (a) Either party shall have the right to submit a dispute regarding the
reasonableness of Landlord’s withholding of its consent, solely with respect to those matters in
connection with which Landlord has expressly agreed not to unreasonably withhold its consent, to
arbitration under the then prevailing rules of the AAA in accordance with the provisions of this
Section 9.22.

     (b) Either party may submit such dispute to arbitration in the City of New York before a
single arbitrator under the Expedited Procedures provisions of the Commercial Arbitration Rules of
the AAA (presently Rules 53 through 57 and, to the extent applicable, Section 19); provided,
however, that with respect to any such arbitration, (i) the list of arbitrators referred to in Rule
54, consisting of arbitrators who have the qualifications set forth in Section 9.22(c)
below, shall be returned within five (5) days from the date of mailing; (ii) the parties shall
notify the AAA by facsimile within 4 days of any objections to the arbitrator appointed and will
have no right to object if the arbitrator so appointed was on the list submitted by the AAA and was
not objected to in accordance with the second paragraph of Rule 54; (iii) the Notice of Hearing
referred to in Rule 55 shall be 4 days in advance of the hearing; (iv) the hearing shall be held
within 5 days after the appointment of the arbitrator; and (v) the decision and award of the
arbitrator shall be final and conclusive on the parties.

     (c) The arbitrator conducting any arbitration shall be bound by the provisions of this Lease
and shall not have the power to add to, subtract from, or otherwise modify such provisions. The
arbitrator shall consider only the specific issues submitted to it for resolution, Landlord and
Tenant agree to sign all documents and to do all other things necessary to submit any such matter
to arbitration and further agree to, and hereby do, waive any and all rights they or either of them
may at any time have to revoke their agreement hereunder to submit to arbitration and to abide by
the decision rendered thereunder which shall be binding and conclusive on the parties and shall
constitute an “award” by the arbitrator within the meaning of the AAA rules and applicable law.
Judgment may be had on the decision and award of the arbitrators so rendered in any court of
competent jurisdiction. Each arbitrator shall be a qualified, disinterested and impartial person
who shall have had at least 10 years experience in matters relating to the operation of Class A
commercial office buildings in Manhattan. Landlord and Tenant shall each have the right to appear
and be represented by counsel

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before said arbitrators and to submit such data and memoranda in support of their respective
positions in the matter in dispute as may be reasonably necessary or appropriate in the
circumstances. Each party hereunder shall pay its own costs, fees and expenses in connection with
any arbitration or other action or proceeding brought under this Section 9.22 and the
expenses and fees of the arbitrator selected shall be shared equally by Landlord and Tenant.
Notwithstanding any contrary provisions hereof, Landlord and Tenant agree that the arbitrator shall
only have the power to determine whether or not Landlord had the right to grant or deny its consent
to the Alterations, sublease or assignment in question, and shall not have the right or discretion
to award damages, costs, attorney’s fees or interest.

     9.23. Affirmative Waivers. Landlord and Tenant hereby waive trial by jury in any action,
proceeding or counterclaim brought by either against the other on any matter whatsoever arising out
of or in any way connected with this Lease, the relationship of Landlord and Tenant, Tenant’s use
or occupancy of the Premises, including any claim of injury or damage, and any emergency and other
statutory remedy with respect thereto. Tenant shall not interpose any counterclaim of any kind in
any action or proceeding commenced by Landlord to recover possession of the Premises. Tenant
hereby waives any right of redemption or similar right that it may have with respect to this Lease
after the termination hereof.

     9.24. Conditional Abatement. If after Tenant takes occupancy of the Premises for the conduct
of business, Tenant is prevented from using, and does not use, the Premises or any substantial
portion thereof, for ten (10) consecutive Business Days (the “Eligibility Period”) as a result
Landlord’s default in its obligations to perform any repair, maintenance or alteration, or provide
any service, which Landlord is expressly required to perform or provide pursuant to the terms of
this Lease, then Tenant, as its sole and exclusive remedy, shall be entitled to an abatement of the
Fixed Rent payable with respect to the period (including the Eligibility Period) that Tenant is so
prevented from using, and does not use, the Premises or such substantial portion thereof, in the
proportion that the rentable area of the portion of the Premises that Tenant is so prevented from
using, and does not use, bears to the total rentable area of the Premises; provided,
however, Tenant shall not be entitled to any such abatement of Fixed Rent to the extent
that Tenant receives insurance proceeds for the payment of such Fixed Rent (or would have received
such insurance proceeds had Tenant maintained the insurance required to be maintained by Tenant
pursuant to the terms of this Lease).

ARTICLE 10.

RENEWAL RIGHT

     10.01. Renewal Right. (a) As used herein:

     “Renewable Portion” shall mean a portion (i.e., less than all) of the Premises
as constituted on (i) the date of the First Renewal Notice, with respect to the

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First Renewal Term, and (ii) the date of the Second Renewal Notice, with respect to the Second
Renewal Term, consisting solely of a Base Block (as hereinafter defined).

     “First Renewal Premises” shall mean either (i) the entire Premises as of the date of
the First Renewal Notice, if Tenant exercises (or is deemed to have exercised) the First Renewal
Option as to the entire Premises, or (ii) the Renewable Portion described and delineated in the
First Renewal Notice, if Tenant exercises the First Renewal Option as to a Renewable Portion (as
opposed to the entire Premises).

     “Second Renewal Premises” shall mean either (i) the entire Premises as of the date of
the Second Renewal Notice, if Tenant exercises (or is deemed to have exercised) the Second Renewal
Option as to the entire Premises, or (ii) the Renewable Portion described and delineated in the
Second Renewal Notice, if Tenant exercises the Second Renewal Option as to a Renewable Portion (as
opposed to the entire Premises).

     “Premises Floor” shall mean each floor in the Building on which any part of the
Premises is located; such floors, as of the Commencement Date, being the 15th, 16th and 17th floors
of the Building.

     “Full Premises Floor” shall mean any Premises Floor the entire rentable area of which
is within the Premises.

     “Base Block” shall mean all or more than 50% of the rentable area of the Premises as
of the date of the First Renewal Notice or Second Renewal Notice, as the case may be, consisting of
either (x) one or more vertically contiguous Full Premises Floors, the highest of which is the
highest Full Premises Floor of the Building on which any portion of the Premises is located, or (y)
one or more vertically contiguous Full Premises Floors, the lowest of which is the lowest Full
Premises Floor of the Building on which any portion of the Premises is located; thus, by way of
example only, if, at any given point in time, the Premises consists of the entire rentable area of
the 15th, 16th and 17th floors of the Building, and no other space in the Building, then the Base
Block at such given point in time could consist of any combination of at least two of such floors,
other than the 15th and 17th floors.

     (b) Tenant shall have the option (herein called the “First Renewal Option”) to extend
the term of this lease as to the entire Premises as the same is constituted as of the date of the
First Renewal Notice or any Renewable Portion thereof for a five (5) year period (the “First
Renewal Term”) which shall commence on the date immediately succeeding the Expiration Date of
the initial Term and ending on the 5th anniversary of the Expiration Date of the initial Term (the
“First Renewal Expiration Date”); provided, that on the date Tenant exercises the
First Renewal Option and at the commencement of the First Renewal Term (i) this Lease shall not
have been terminated, (ii) Tenant shall not be in default in the payment of any Rent and no other
Event of Default shall have occurred and be continuing and (iii) Tenant and/or any Affiliate of
Tenant, and any Desk Space User permitted pursuant to Section 5.01(d) hereof, shall occupy
the at least 50% or more of the entire Premises. The First Renewal Option shall

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be exercisable only with respect to the entire Premises or any Renewable Portion thereof and
only by Tenant giving Landlord written notice of such exercise (herein called the “First
Renewal Notice”) which notice shall (x) indicate whether Tenant is exercising the First Renewal
Option as to the entire Premises or a Renewable Portion thereof, and, in the latter case, shall
describe and delineate the Renewable Portion and (y) be given by Tenant not later than the date
which is twelve (12) months prior to the Expiration Date (time being of the essence with respect to
Tenant’s giving of the First Renewal Notice). If Tenant timely delivers a First Renewal Notice
which delineates, and exercises the First Renewal Option with respect to, a portion of the Premises
which is not a Renewable Portion, then Landlord shall promptly notify Tenant of such fact, and
Tenant shall have five (5) Business Days (time being of the essence) following notice from Landlord
of such fact in which to revise Tenant’s First Renewal Notice to delineate a Renewal Portion of the
Premises which Tenant intends to be subject to the First Renewal Option. If Tenant fails to timely
so revise the First Renewal Notice, or timely revises the First Renewal Notice but does not
exercise the First Renewal Option with respect to a portion of the Premises which is a Renewable
Portion, Tenant shall conclusively be deemed to have exercised the First Renewal Option as to the
entire Premises. If Tenant timely delivers the First Renewal Notice but fails to indicate whether
Tenant is exercising the First Renewal Option with respect to the entire Premises or a Renewable
Portion, then Landlord shall not be obligated to send Tenant notice of such fact, and Tenant shall
be deemed to have exercised the First Renewal Option as to the entire Premises.

     (c) Tenant shall have the option (herein called the “Second Renewal Option”) to extend
the term of this lease as to the entire Premises as the same is constituted as of the date of the
Second Renewal Notice or any Renewable Portion thereof for an additional five (5) year period (the
“Second Renewal Term”) which shall commence on the date immediately succeeding the First
Renewal Expiration Date and ending on the 5th anniversary of the First Renewal Expiration Date (the
“Second Renewal Expiration Date”); provided that Tenant shall have previously
exercised the First Renewal Option, and, as of the date that Tenant gives Landlord the Second
Renewal Notice (as hereinafter defined) and as of the First Renewal Expiration Date, (i) this Lease
shall not have been terminated, (ii) Tenant shall not be in default in the payment of any Rent and
no other Event of Default shall have occurred and be continuing and (iii) Tenant and/or any
Affiliate of Tenant, and any Desk Space User permitted pursuant to Section 5.01(d) hereof,
shall occupy at least 50% or more of the entire First Renewal Premises. The Second Renewal Option
shall be exercisable only with respect to the entire First Renewal Premises or any Renewable
Portion thereof and only by Tenant giving Landlord written notice of such exercise (herein called
the “Second Renewal Notice”), which notice shall (x) indicate whether Tenant is exercising
the Second Renewal Option as to the entire Premises or a Renewable Portion thereof, and, in the
latter case, shall describe and delineate the Renewable Portion and (y) be given by Tenant not
later than the date which is twelve (12) months prior to the First Renewal Expiration Date (time
being of the essence with respect to Tenant’s giving of the Second Renewal Notice). If Tenant
timely delivers a Second Renewal Notice which delineates, and exercises the Second Renewal Option
with respect to, a portion of the Premises which is not a Renewable Portion, then

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Landlord shall promptly notify Tenant of such fact, and Tenant shall have five (5) Business
Days (time being of the essence) following notice from Landlord of such fact in which to revise
Tenant’s Second Renewal Notice to delineate a Renewal Portion of the Premises which Tenant intends
to be subject to the Second Renewal Option, if Tenant fails to timely so revise the Second Renewal
Notice, or timely revises the Second Renewal Notice but does not exercise the Second Renewal Option
with respect to a portion of the Premises which is a Renewable Portion, Tenant shall conclusively
be deemed to have exercised the Second Renewal Option as to the entire Premises. If Tenant timely
delivers the Second Renewal Notice but fails to indicate whether Tenant is exercising the Second
Renewal Option with respect to the entire Premises or a Renewable Portion, then Landlord shall not
be obligated to send Tenant notice of such fact, and Tenant shall be deemed to have exercised the
Second Renewal Option as to the entire Premises.

     (d) The First Renewal Option and Second Renewal Option are sometimes referred to individually
as a “Renewal Option” and collectively as the “Renewal Options”; the First Renewal
Term and Second Renewal Term are sometimes referred to individually as a “Renewal Term” and
collectively as the “Renewal Terms”; the First Renewal Premises and the Second Renewal
Premises are sometimes referred to individually and collectively as “Renewal Premises”.

     (e) In the event that any Refusal Space or Offer Space shall become a part of the Premises
pursuant to this Lease, the provisions of Sections 1.06 and 1.07 respectively,
shall govern Tenant’s right, if any, to extend the term of this Lease with respect to such Refusal
Space or Offer Space, as the case may be, and not this Article 10. Any such Refusal Space
or Offer Space shall not be considered part of the Premises for purposes of determining the
Renewable Portion, but the Expansion Space shall be so considered if the Expansion Space has become
a part of the Premises pursuant to this Lease.

     (f) Notwithstanding the provisions of Sections 10.01(b) and (c) above, Tenant
shall have the right to deliver a notice exercising the First Renewal Term or Second Renewal Term,
as the case may be, which complies in all respects with the provisions of Sections 10.01(b)
or (c), as the case may be, except that such notice need not describe and delineate the
applicable Renewable Portion (any such Renewal Notice delivered without such description or
delineation being a “Partial Renewal Notice); provided that (i) any Partial Renewal Notice
is given at least eighteen (18) months prior to the applicable Renewal Term and states in bold
capitalized lettering that such notice is a PARTIAL RENEWAL NOTICE and (ii) such Partial Renewal
Notice is given in connection with Tenant’s exercise of its Refusal Space Option pursuant to
Section 1.06(b)(ii) or its Offer Space Option pursuant to Section 1.07(b)(ii) or in
connection with an event which would give rise to Landlord’s options set forth in Section
5.02 hereof with respect to any proposed Assignment or Subletting. Any Partial Renewal Notice
properly and timely given shall be an irrevocable exercise of the Renewal Option in question. If
Tenant shall give a Partial Renewal Notice with respect to any Renewal Option, then

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Tenant shall nevertheless be required to give a First Renewal Notice or Second Renewal Notice,
as the case may be, in accordance with Sections 10.01(b) or (c), as the case may
be, which, among other things, describes and delineates the applicable Renewable Portion, and if
Tenant fails to so give a First Renewal Notice or Second Renewal Notice, then Tenant shall (A) in
the case of the First Renewal Term, be deemed to have exercised the-First Renewal Option with
respect to the entire Premises and (B) in the of the Second Renewal Term, be deemed to have
exercised the Second Renewal Option with respect to the entire First Renewal Premises.

     10.02. Renewal Rent and Other Terms. (a) Each Renewal Term shall be upon all of the terms
and conditions set forth in this Lease, except that (i) the Fixed Rent shall be as determined
pursuant to the further provisions of this Section 10.02; (ii) Tenant shall accept the
Premises in its “as is” condition at the commencement of each Renewal Term, and Landlord shall not
be required to perform Landlord’s Initial Work or any other work, pay the Landlord’s Contribution
or any other amount or render any services to make the Premises ready for Tenant’s use and
occupancy or provide any abatement of Fixed Rent or Additional Charges, in each case with respect
to each Renewal Term; (iii) Tenant shall have no option to renew this Lease beyond the expiration
of the Second Renewal Term; (iv) the Base Tax Amount shall be the Taxes for the Tax Year ending
immediately before the commencement of the applicable Renewal Term and the Base Operating Year
shall be the Operating Year ending immediately before the commencement of the applicable Renewal
Term; and (v) if the Renewal Premises shall consist of less than the entire Premises (as of the
date of each of the First Renewal Notice and the Second Renewal Notice), then Tenant’s Share shall
be four and four tenths percent (4.4%) times the number of floors comprising the Renewal Premises.

     (b) The annual Fixed Rent for the Premises for each Renewal Term shall be the fixed annual
rent that a willing lessee would pay and a willing lessor would accept for a long term lease of the
Premises, taking into account all relevant factors (the “Fair Market Rent”).

     (c) If Tenant timely exercises a Renewal Option, Landlord shall notify Tenant (the “Rent
Notice”) at least 90 days before the last day of the then expiring Term of Landlord’s
determination of the Fair Market Rent (“Landlord’s Determination”). Within 20 days after
Tenant’s receipt of the Rent Notice, Tenant shall notify Landlord (“Tenant’s Notice”),
whether Tenant accepts or disputes Landlord’s Determination, and if Tenant disputes Landlord’s
Determination, Tenant’s Notice shall set forth Tenant’s determination of the Fair Market Rent. If
Tenant fails to give Tenant’s Notice within such 20 day period, Tenant shall be deemed to have
accepted Landlord’s Determination.

     (d) If Tenant disputes Landlord’s Determination and if the final determination of Fair Market
Rent shall not be made on or before the first day of a Renewal Term, then, pending such final
determination, Tenant shall pay, as Fixed Rent for such Renewal Term, an amount equal to Landlord’s
Determination. If, based upon the final determination of the Fair Market Rent, the Fixed Rent
payments made by Tenant

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for such portion of such Renewal Term were (i) less than the Rental Value payable for such
Renewal Term, Tenant shall pay to Landlord the amount of such deficiency within 10 days after
demand therefor, or (ii) greater than the Rental Value payable for such Renewal Term, Landlord
shall credit the amount of such excess against future installments of Fixed Rent and/or Additional
Charges payable by Tenant.

     (e) If Tenant timely disputes Landlord’s Determination and Landlord and Tenant fail to agree
as to the Fair Market Rent within the 20 day period (the “Dispute Period”) after the giving
of Tenant’s Notice, then the Fair Market Rent shall be determined by appraisal as follows.

          (i) Within twenty (20) days following the Dispute Period, each of Landlord and Tenant, by
notice to the other party, shall appoint an appraiser (the two appraisers so appointed being herein
collectively called the “Initial Appraisers”). If either Landlord or Tenant shall fail to
timely appoint an Initial Appraiser within such 20-day period, then the party which appointed an
Initial Appraiser may notify the other party of such failure (which notice shall refer specifically
to this Section 10.02(e)(i)) and if, in such event, the other party does not, within a
period of seven (7) days after its receipt of such notice, appoint the second Initial Appraiser,
then the appointed Initial Appraiser shall independently select and appoint the second Initial
Appraiser, who shall be impartial, within ten (10) days after the expiration of such 7-day period.

          (ii) Within thirty (30) days after the appointment of both Initial Appraisers, (A) Landlord
shall submit to each of the Initial Appraisers, in a sealed envelope, a written statement setting
forth Landlord’s good-faith determination of the Fair Market Rent for the applicable Renewal Term
(such sealed written determination of Landlord being herein called “Landlord’s Fair Market
Determination”), and (B) Tenant shall submit to each of the Initial Appraisers, in a sealed
envelope, a written statement setting forth Tenant’s good-faith determination of the Fair Market
Rent for the applicable Renewal Term (such sealed written determination of Tenant being herein
called “Tenant’s Fair Market Determination”) (Landlord’s Fair Market Determination and
Tenant’s Fair Market Determination are herein collectively called the “Fair Market
Determinations”). Neither of the Fair Market Determinations shall be opened except as and when
hereinafter expressly provided. If either Landlord or Tenant shall fail to submit its Fair Market
Determination in accordance with the provisions of this Section 10.02(e)(ii), then the
party which made a Fair Market Determination may notify the other party of such failure (which
notice shall refer specifically to this Section 10.02(e)(ii), and if, in such event, the
other party does not, within a period of seven (7) days after its receipt of such notice, submit
its Fair Market Determination, then the only Fair Market Determination which was made in accordance
with this Section 10.02(e)(ii) shall promptly thereafter be opened by the Initial
Appraisers, and the Fair Market Rent at issue shall be such Fair Market Determination, which Fair
Market Determination shall be conclusive and binding upon both Landlord and Tenant.

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          (iii) If both Landlord and Tenant submit their respective Fair Market Determinations in
accordance with the provisions of Section 10.02(e)(ii) above, then the Initial Appraisers
shall arrange a meeting (herein called the “Initial Appraiser Meeting”) to be held at the
Building office (or at such other place as is mutually agreeable to the Initial Appraisers and
located in the Borough of Manhattan) during Business Hours within fifteen (15) days after the
receipt by both Initial Appraisers of each of the Fair Market Determinations for the purpose of
opening the Fair Market Determinations. Landlord and Tenant shall have not less than fifteen (15)
days notice of the date, time and location of the Initial Appraiser Meeting and shall have the
right to have its representatives present thereat. At the Initial Appraiser Meeting, (A) the Fair
Market Determinations shall be opened by each of the initial Appraisers and copies thereof shall be
distributed to Landlord and Tenant, and (B) thereafter, each of Landlord and Tenant may submit to
the Initial Appraisers such written evidence in support of its Fair Market Determination as it
deems appropriate.

          (iv) Within twenty (20) days after the Initial Appraiser Meeting, each of the Initial
Appraisers shall independently select the Fair Market Determination (as between Landlord’s Fair
Market Determination and Tenant’s Fair Market Determination which, in his opinion, more accurately
reflects the Fair Market Rent at issue, and shall notify Landlord, Tenant and the other Initial
Appraiser of such selection in writing. If the two Initial Appraisers concur an such selection,
then the Fair Market Rent at issue shall be as set forth in the selected Fair Market Determination,
which Fair Market Determination shall be conclusive and binding upon both Landlord and Tenant.

          (v) If the Initial Appraisers do not concur in such selection, then the two Initial
Appraisers, within ten (10) days after the end of such 20-day period, shall jointly appoint a
mutually agreeable third appraiser who shall be impartial (herein called the “Third
Appraiser”). If the Initial Appraisers fail to agree upon and appoint the Third Appraiser
within such 10-day period, then either Landlord or Tenant may request that the AAA appoint the
Third Appraiser within twenty (20) days after such request, and both parties shall be bound by any
appointment so made within such 20-day period. If the Third Appraiser shall not have been
appointed within such 20-day period, then either Landlord or Tenant may apply to any court having
jurisdiction to make such appointment.

          (vi) The Third Appraiser shall subscribe and swear to an oath to fairly and impartially select
the Fair Market Determination which, in his opinion, more accurately reflects the Fair Market Rent
at issue. The Third Appraiser shall conduct such hearings as he deems appropriate (or such
hearings as either Landlord or Tenant shall request). Within twenty (20) days after the Third
Appraiser has been appointed, the Third Appraiser shall select the Fair Market Determination
(i.e., either Landlord’s Fair Market Determination or Tenant’s Fair Market Determination)
which, in his opinion, more accurately reflects the Fair Market Rent at issue, and shall notify
Landlord. Tenant and each of the Initial Appraisers of such selection in writing. The Fair Market
Rent shall be as set forth in the Fair Market Determination selected by the Third Appraiser,

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which Fair Market Determination shall be conclusive and binding upon both Landlord and Tenant.

          (vii) In connection with any appraisal conducted pursuant to this Section 10.02(e),
Landlord, if required pursuant to the terms of any mortgage affecting portion of Landlord’s
interest in any portion of the Building, may serve a copy of such notice on the holder of each
mortgage, and allow such mortgagee the right to participate in such appraisal. Such right of
participation shall include, without limitation, (A) the right to be represented by counsel, (B)
submit evidence and (C) argument, but all submissions, designations, elections and other actions
shall be made or taken by Landlord.

          (viii) The fees and expenses of any such appraisal shall be borne by the parties equally, but
each party shall bear the expense of the Initial Appraiser appointed by it and its attorneys and
experts as well as any expenses of presenting its own proof.

          (ix) Landlord and Tenant shall each have the right to submit such data and memoranda to each
of the appraisers in support of their respective positions as they may deem necessary or
appropriate.

          (x) Each appraiser shall be a real estate broker having at least ten (10) years’ experience in
leasing or valuation of properties which are similar in character to the Building

          (xi) It is expressly understood, and each appraiser shall acknowledge and agree, that any
determination of the Fair Market Rent for any Renewal Term shall be based solely on the definition
thereof as set forth in Section 10.02(b) such data and memoranda submitted pursuant to
Section 10.02(e)(ix). The appraisers shall not have the power to add to, modify or change
any such definitions or any other provisions of this lease, and the jurisdiction of the appraisers
is accordingly limited.

[REMAINDER OF PAGE INTENTIONALLY LEFT BLANK]

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

	 	 	 	 	 	 	 
	 	 	Landlord:	 	390 PARK AVENUE ASSOCIATES, LLC
	 
	 	 	 	 	 	 
	 

	 	 	 	By:
	 	/s/ Aby Rosen
	 

	 	 	 	 	 	 
	 

	 	 	 	 	 	Name: Aby Rosen
	 

	 	 	 	 	 	Title:
	 
	 	 	 	 	 	 
	 	 	Tenant:	 	THOMAS WEISEL PARTNERS GROUP LLC
	 
	 	 	 	 	 	 
	 

	 	 	 	By:
	 	/s/ Shaugn Stanley
	 

	 	 	 	 	 	 
	 

	 	 	 	 	 	Name: Shaugn Stanley
	 

	 	 	 	 	 	Title: CFO/Partner
	 
	 	 	 	 	 	 
	 	 	Tenant’s Federal Tax I.D. No.: 94-3310171

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THOMAS WEISEL PARTNERS GROUP, LLC

390 Park Avenue

New York, NY 10022

As of June 3, 1999

390 Park Avenue Associates, LLC

c/o RFR Holding LLC

400 Park Avenue

New York, New York 10022

          Re: 390 Park Avenue, New York, New York

Ladies and Gentlemen:

          Reference is made to that certain lease, dated as of May 5, 1999, between 390 Park Avenue
Associates, LLC, as Landlord, and Thomas Weisel Partners Group LLC, as Tenant, for the 15th, 16th
and 17th floors of the building located at 390 Park Avenue, New York, New York (the
“Lease”). Capitalized terms not otherwise defined herein shall have their respective
meanings set forth in the Lease.

          By delivery of this letter to Landlord, Tenant hereby exercises the Expansion Option as of the
date hereof pursuant to Section 1.05 of the Lease, and this letter shall constitute the Expansion
Notice provided for in Section 1.05(a) of the Lease.

          Notwithstanding anything to the contrary contained in the Lease, (i) the ES Inclusion Date
shall be deemed to be the date hereof (i.e., June 3, 1999), (ii) prior to the Expansion
Space Delivery Date (as defined below), Landlord shall have no obligation to perform any Landlord’s
Initial Work or any other work to the Expansion Space and Tenant shall accept the Expansion Space
in its “as is” condition on the date hereof, (iii) the Expansion Space shall become part of the
Premises as of the date hereof with the same force and effect as if such date were the ES Inclusion
Date originally provided for in the Lease, (iv) except as the same may be extended as provided
below, the Expansion Space Rent Commencement Date shall be February 3, 2000 and (v) the provisions
of Section 1.05(d) of the Lease are hereby deemed to be null and void and of no further force and
effect.

          Tenant shall have the right, exercisable by Tenant giving Landlord ten (10) Business Day’s
prior written notice thereof (the “Expansion Space Work Notice”), to elect to have Landlord
perform Landlord’s Initial Work in the Expansion Space. Promptly after the later to occur of (i)
the date that is ten (10) Business Days after the effectiveness of the Expansion Space Work Notice
and (ii) the date on which Tenant actually delivers vacant possession of the Expansion Space to
Landlord (the later of such dates being the “Expansion Space Delivery Date”), Landlord
shall commence the performance of Landlord’s Initial Work in the Expansion Space. If Tenant shall
properly deliver the Expansion Space Work Notice and if the Expansion Space Delivery Date shall
have occurred, for each day during the period commencing on the Expansion Space Delivery Date and
ending on the date on which Landlord delivers vacant possession of the Expansion Space to Tenant
with Landlord’s Initial Work in the Expansion Space substantially completed within the meaning of
the last sentence of Section 8.01(d) of the

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Lease, (a) if the Expansion Space Rent Commencement Date shall not have theretofore occurred, the
Expansion Space Rent Commencement Date shall be extended one (1) day and (b) if the Expansion Space
Rent Commencement Date shall have theretofore occurred, the Fixed Rent payable with respect to the
Expansion Space during such period pursuant to Section 1.05(b)(i) of the Lease shall be abated for
one (1) day.

          During the period commencing on the date hereof and ending on the date on which a meter or
meters and related equipment to measure Tenant’s demand (KW) and usage (KWHR) of electricity
consumed in the Expansion Space have been installed and are operational, Tenant agrees to pay for
its consumtion of electricity in the Expansion Space, as Additional Charges, a sum equal to
$2,550.00 per month, payable on the date hereof and on the first day of each month hereafter.

          Landlord and Tenant hereby confirm that except as modified by this letter agreement, the Lease
continues unmodified and in full force and effect.

          Please indicate your acceptance of and agreement to the foregoing by executing a copy of this
letter agreement in the space provided below, and by returning it to Tenant.

	 	 	 	 	 
	 	 	Very truly yours,
	 
	 	 	 	 
	 	 	THOMAS WEISEL PARTNERS GROUP, LLC
	 
	 	 	 	 
	 

	 	By:
	 	/s/ Charles Brama
	 

	 	 	 	 
	 

	 	 	 	Name: Charles Brama
	 

	 	 	 	Title: Partner

	 	 	 	 	 
	 

	 	 	 	 
	ACCEPTED AND AGREED TO:	 	 
	 
	 	 	 	 
	390 PARK AVENUE ASSOCIATES, LLC	 	 
	 
	 	 	 	 
	By:
	 	 	 	 
	 

	 	 	 	 
	 

	 	Name:	 	 
	 

	 	Title:	 	 

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          LEASE AMENDMENT (this “Lease Amendment"'), dated as of October 1, 1999, between 390
PARK AVENUE ASSOCIATES, LLC, (“Landlord”) a Delaware limited liability company whose
address is c/o RFR Holding LLC, 400 Park Avenue, New York, New York 10022 and THOMAS WEISEL
PARTNERS GROUP LLC (“Tenant”) a Delaware limited liability company having an office at 390
Park Avenue, New York, New York. 10022.

WITNESSETH

          WHEREAS, Landlord and Tenant have entered into that certain lease (the “Lease”) dated
as of May 5, 1999, for the 14th, 15th, 16th and 17th floors (the “Premises”) of the
building located at 390 Park Avenue, New York, New York (the “Building”) all as more
particularly described in the Lease.

          WHEREAS, Landlord and Tenant desire to amend the Lease to provide for the additional leasing
by Landlord and the additional hiring by Tenant of certain storage space in the basement level of
the Building for use by Tenant for storage purposes.

          NOW, THEREFORE, Landlord and Tenant agree as follows:

          1. Defined Terms. All capitalized terms used herein but not defined shall have
the meanings ascribed to them in the Lease.

          2. Demise of Storage Space, (a) Landlord hereby leases to Tenant and Tenant hereby
hires from Landlord, upon and subject to the terms and conditions of the Lease, as amended hereby,
a portion of the space of the basement level of the Building (the “Storage Space”) as shown
hatched on the plan attached hereto as Exhibit A. for a term commencing on the date hereof
(the “Storage Space Commencement Date”) and ending, unless sooner terminated as herein
provided, on the Expiration Date.

               (b) Tenant shall accept the Storage Space in its “as is” condition on the Storage Space
Commencement Date and Landlord shall not be required to perform any work, pay any amount, install
any fixtures or equipment or render any services to make the Storage Space ready or suitable for
Tenant’s use or occupancy thereof.

          3. Use. The Storage Space shall be used and occupied by Tenant (and its
permitted subtenants and occupants) solely for storage purposes ancillary and incidental to its
permitted use and occupancy of the Premises and/or as a battery room for Tenant’s emergency
generator and for no other purpose. Throughout the term of the Lease, Tenant shall not, and
shall not direct, suffer or permit any of its agents, contractors, employees, licensees or invitees to
at any time handle, use, manufacture, store or dispose of (except for such handling, use or storage
as is customary and reasonably necessary for first-class office use in comparable buildings located
in midtown Manhattan) in, on or about the Storage Space, the Premises or the Building any of the
following materials (collectively “Hazardous Materials”) flammables, explosives, radioactive
materials, hazardous wastes or materials, toxic wastes or materials, or other similar substances,
petroleum products or derivatives or any substance subject to regulation by or under any federal,
state and local laws and ordinances relating to the protection of the environment or the
keeping, use or disposition of environmentally hazardous materials, substances, or wastes,
presently in effect or hereafter adopted, all amendments to any of them, and all rules and
regulations issued pursuant to any of such laws or ordinances (collectively “Environmental
Laws”), nor shall Tenant suffer or

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permit any Hazardous Materials to be used in any manner not fully in compliance with all
Environmental Laws, in the Storage Space, the Premises or the Building and appurtenant land or
allow the environment to become contaminated with any Hazardous Materials. Tenant shall protect,
defend, indemnify and hold each and all of Landlord and the other parties indemnified under
Section 6.12(b) of the Lease harmless from and against any and all loss, claims, liability
or costs (including court costs and attorney’s fees) incurred by reason of any failure of Tenant to
fully comply with all applicable Environmental Laws, or the presence, handling, use or disposition
in or from the Storage Space or the Premises of any Hazardous Materials (even though permissible
under all applicable Environmental Laws or the provisions of the Lease, as amended hereby), or by
reason of any failure of Tenant to keep, observe, or perform any provision of this Section
3.

          4. Rent. The Fixed Rent payable under the Lease shall be increased as follows: (a) for
the period commencing on the Storage Space Commencement Date and ending on the day immediately
preceding the 1st anniversary of the Base Space Rent Commencement Date, at the annual rate of
Twenty-Six Thousand One Hundred and 00/100 Dollars ($26,100.00), (b) for the period commencing on
the 1st anniversary of the Base Space Rent Commencement Date and ending on the day immediately
preceding the 2nd anniversary of the Base Space Rent Commencement Date, at the annual rate of
Twenty-Six Thousand Eight Hundred Eighty-Three and 00/100 Dollars ($26,883.00), (c) for the period
commencing on the 2nd anniversary of the Base Space Rent Commencement Date and ending on the day
immediately preceding the 3rd anniversary of the Base Space Rent
Commencement Date, at the annual rate of Twenty-Seven Thousand Six Hundred Eighty-Nine and 49/100 Dollars ($27,689.49), (d) for the
period commencing on the 3rd anniversary of the Base Space Rent Commencement Date and ending on the
day immediately preceding the 4th anniversary of the Base Space Rent Commencement Date, at the
annual rate of Twenty-Eight Thousand Five Hundred Twenty and 17/100 Dollars ($28,520,17), (e) for
the period commencing on the 4th anniversary of the Base Space Rent Commencement Date and ending on
the day immediately preceding the 5th anniversary of the Base Space Rent Commencement Date, at the
annual rate of Twenty-Nine Thousand Three Hundred Seventy-Five and 78/100 Dollars ($29,375.78), (f)
for the period commencing on the 5th anniversary of the Base Space Rent Commencement Date and
ending on the day immediately preceding the 6th anniversary of the Base Space Rent Commencement
Date, at the annual rate of Thirty Thousand Two Hundred Fifty-Seven and 05/100 Dollars
(530,257.05), (g) for the period commencing on the 6th anniversary of the Base Space Rent
Commencement Date and ending on the day immediately preceding the 7th anniversary of the Base Space
Rent Commencement Date, at the annual rate of Thirty-One Thousand One Hundred Sixty-Four and 76/100
Dollars ($31,164.76), (h)for the period commencing on the 7th anniversary of the Base Space Rent
Commencement Date and ending on the day immediately preceding the 8th anniversary of the Base Space
Rent Commencement Date, at the annual rate of Thirty-Two Thousand Ninety-Nine and 70/100 Dollars
($32,099.70), (i) for the period commencing on the 8th anniversary of the Base Space Rent
Commencement Date and ending on the day immediately preceding the 9th anniversary of the Base Space
Rent Commencement Date, at the annual rate of Thirty-Three
Thousand Sixty-Two and 69/100 Dollars ($33,062.69) and (j) for the period commencing on the 9th
anniversary of the Base Space Rent Commencement Date and ending on the Expiration Date of the
initial Term, at the annual rate of Thirty-Four Thousand Fifty-Four and 57/100 Dollars
($34,054.57).

          5. Heating. Ventilation and Electricity. Except as otherwise provided below,

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Landlord shall provide heating, ventilation and electric energy to the Storage Space without
charge to Tenant. Landlord’s agreement to provide heating, ventilation and electric energy to the
Storage Space without charge to Tenant is conditioned upon Tenant’s use of the Storage Space
for storage purposes only and Tenant’s consumption of electric energy in the Storage Space being
solely for lighting storage, and for no other use. Notwithstanding any provision of the Lease to
the contrary, if Tenant shall consume electric energy in the Storage Space for any other purpose,
the provisions of Section 2.07(d) of the Lease shall apply to the charge for electric energy in the
Storage Space. Tenant acknowledges that the heating, ventilation and electric energy provided to
the Storage Space shall be sufficient only for storage purposes and is significantly less than the
services provided to the Premises. Except as provided herein, Landlord shall have no obligation
to provide any Landlord Service, electricity or other service to the Storage Space.

          6. Brokerage. Each party represents to the other that such party has dealt
with no broker other than Cushman & Wakefield, Inc. (“Broker”) in connection with this Lease
Amendment or the Building, and each party shall indemnify and hold the other harmless from and
against all loss, cost, liability and expense (including, without limitation, reasonable attorneys’ fees
and disbursements) arising out of any claim for a commission or other compensation by any
broker other than Broker who alleges that it has dealt with the indemnifying party in connection
with this Lease Amendment or the Building. Landlord shall enter into a separate agreement with
Broker which provides that, if this Lease Amendment is executed and delivered by both Landlord
and Tenant, Landlord shall pay to Broker a commission to be agreed upon between Landlord and
Broker, subject to, and in accordance with, the terms and conditions of such agreement.

          7. No Other Modification. Except as expressly set forth in this Lease
Amendment, the Lease continues and remains unmodified and in full force and effect, and the
Lease as hereby modified is ratified and confirmed. All references in the Lease to “this Lease”
shall hereafter be deemed to refer to the Lease as amended by this Lease Amendment.

[REMAINDER OF PAGE INTENTIONALLY LEFT BLANK]

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

	 	 	 	 	 	 	 	 	 	 	 
	 

	 	 	 	 	 	 	 	 	 	 
	 	 	Landlord:	 	 	 	390 PARK AVENUE ASSOCIATES, LLC	 	 
	 
	 	 	 	 	 	 	 	 	 	 
	 

	 	 	 	 	 	By:
	 	/s/Aby Rosen	 	 
	 

	 	 	 	 	 	 	 	 	 	 
	 

	 	 	 	 	 	 	 	Name: Aby Rosen	 	 
	 

	 	 	 	 	 	 	 	Title:	 	 
	 
	 	 	 	 	 	 	 	 	 	 
	 	 	Tenant:	 	 	 	THOMAS WEISEL PARTNERS GROUP LLC	 	 
	 
	 	 	 	 	 	 	 	 	 	 
	 

	 	 	 	 	 	By:
	 	/s/ David Baylor	 	 
	 

	 	 	 	 	 	 	 	 	 	 
	 

	 	 	 	 	 	 	 	Name: David Baylor	 	 
	 

	 	 	 	 	 	 	 	Title: General Counsel	 	 

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EXECUTION COPY

          THIRD LEASE AMENDMENT (this “Third Lease Amendment”), dated as of May 3, 2000,
between 390 PARK AVENUE ASSOCIATES, LLC, (“Landlord”), a Delaware limited liability
company whose address is c/o RFR Holding LLC, 400 Park Avenue, New York, New York 10022 and
THOMAS WEISEL PARTNERS GROUP LLC (“Tenant”), a Delaware limited liability company having
an office at 390 Park Avenue, New York, New York 10022.

WITNESSETH

          WHEREAS, Landlord and Tenant have entered into that certain lease, dated as of May 5, 1999, as
amended by that certain Letter Agreement dated as of June 3, 1999 and that certain Lease Amendment
dated as of October 1, 1999 (collectively, the ''Lease”), for the 14th, 15th, 16th and 17th
floors and certain storage space in the basement level (the “Premises”) of the building
located at 390 Park Avenue, New York, New York (the “Building”), all as more particularly
described in the Lease.

          WHEREAS, Landlord and Tenant desire to further amend the Lease to provide for the additional
leasing by Landlord and the additional hiring by Tenant of certain space on the second floor of
the Building, all on the terms and conditions hereinafter set forth.

          NOW, THEREFORE, Landlord and Tenant agree as follows:

          1. Defined Terms. All capitalized terms used herein but not defined shall
have the meanings ascribed to them in the Lease.

          2. Demise of Second Floor Space, (a) Landlord hereby leases to Tenant and Tenant
hereby hires from Landlord, upon and subject to the terms and conditions set forth in the Lease, as
amended hereby, the entire rentable space on the second (2nd) floor of the Building substantially
as shown hatched on the plan attached hereto as Exhibit A (the “Second Floor
Space”). Effective as of the Second Floor Commencement Date (as hereinafter defined), the
term “Premises” as used in the Lease shall (except as set forth to the contrary herein) be
deemed to include the Second Floor Space.

          (b) The demise of the Second Floor Space by Landlord and the hiring thereof by Tenant
shall be on all of the terms and conditions set forth in the Lease, except that:

               (i) Term. (A) The term of the Lease with respect to the Second Floor Space (the
“Second Floor Term”) shall commence on the date hereof (the “Second Floor Commencement
Date”) and shall end, unless sooner terminated as provided in the Lease, on the last day of
the calendar month in which occurs the fifteen (15) year, six (6) month anniversary of the day
preceding the Second Floor Possession Date (such date, as the same may be extended pursuant to
Section 2(b)(viii) hereof, is called the “Second Floor Expiration Date”). Promptly after
the occurrence of the Second Floor Possession Date, Landlord and Tenant shall confirm the
occurrence thereof, the Second Floor Rent Commencement Date and the Second Floor Expiration Date
by executing an instrument reasonably satisfactory to Landlord and Tenant;

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provided, that failure by Landlord or Tenant to execute such instrument shall not affect
the occurrence of the Second Floor Possession Date, the Second Floor Rent Commencement Date or the
Second Floor Expiration Date in accordance with the provisions of this Third Lease Amendment.

                    (B) Landlord shall endeavor to cause the Second Floor
Possession Date to occur on July 1, 2000. Except as may be caused by Force Majeure or Tenant Delay,
(x) if the Second Floor Possession Date shall have failed to occur on or prior to August 15, 2000,
then, for each day thereafter until the earlier to occur of the Second Floor Possession Date or
August 31, 2000, the Second Floor Rent Commencement Date shall be extended an additional one-half
(1/2) day for each such day and (y) if the Second Floor Possession Date shall have failed to occur
on or prior to August 31, 2000, then the Second Floor Rent Commencement Date shall be extended one
(1) additional day for each day thereafter until the occurrence of the Second Floor Possession
Date.

                    (C) Except as may be caused by Force Majeure or Tenant
Delay, if the Second Floor Possession Date shall have failed to occur on or prior to December 15,
2000 (the “Second Floor Outside Date”), then Tenant shall have the one-time right, as
Tenant’s sole and exclusive remedy, to terminate the leasing by Tenant of the Second Floor Space
only pursuant to Section 2 of this Third Lease Amendment by written notice (a “Second Floor
Termination Notice”) to Landlord given within ten (10) days following the Second Floor Outside
Date. Such termination shall be effective on the date (the “Second Floor Termination Date”)
that is thirty (30) days following the date of such Second Floor Termination Notice, with the same
force and effect as if the Second Floor Termination Date were the Second Floor Expiration Date. If
Tenant shall fail to deliver timely a Second Floor Termination Notice to Landlord within ten (10)
days following the Second Floor Outside Date, then Tenant shall be deemed to have irrevocably
waived any and all of its rights under this Section 2(b)(i)(C).

                    (D) Except as otherwise provided in this Section 2(b)(i), if for
any reason Landlord shall be unable to deliver possession of the Second Floor Space to Tenant on
any date specified herein for such delivery, Landlord shall have no liability to Tenant therefor,
Tenant shall have no right or remedy against Landlord, and the validity of the Lease shall not be
impaired, nor shall the Term or the Second Floor Term be extended, by reason thereof. The
immediately preceding sentence of this Section 2(b)(i)(D) shall be an express provision to the
contrary for purposes of Section 223-a of the New York Real Property Law and any other law of like
import now or hereafter in effect.

               (ii) Fixed Rent. The Fixed Rent payable under the Lease shall be increased by an
amount equal to (a) for the period commencing on the Second Floor Rent Commencement Date and
ending on the day immediately preceding the 5th anniversary of the Second Floor Rent Commencement
Date, Two Million Four Hundred Thirty-Seven Thousand Five Hundred and 00/100 Dollars
($2,437,500.00) per annum, (b) for the period commencing on the 5th anniversary of the Second
Floor Rent Commencement Date and ending on the day immediately preceding the 10th anniversary of
the Second Floor Rent Commencement Date, Two Million Six Hundred Thousand and 00/100 Dollars
($2,600,000.00) per annum, and (c) for

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the period commencing on the 10th anniversary of the Second Floor Rent Commencement Date and
ending on the expiration date of the initial Second Floor Term, Two Million Seven Hundred Sixty
Two Thousand Five Hundred and 00/100 Dollars ($2,762,500.00) per annum. The “Second Floor Rent
Commencement Date” means the date occurring in the sixth (6th) month after the Second Floor
Possession Date which is the same numerical date in the month as the Second Floor Possession Date
or, if no same numerical date shall exist in such sixth (6th) month, the Second Floor Rent
Commencement Date shall be the last day of such sixth (6th) month.

               (iii) Tenant’s Tax Share. With respect to the Second Floor Space only, ‘Tenant’s Tax
Share” shall be fourteen percent (14%) and the “Base Tax Amount” shall mean the Taxes (excluding
any amounts described in Section 2.04(b)(iii) of the Lease) for the Tax Year commencing on July 1,
2000.

               (iv) Tenant’s Operating Share. Tenant’s Operating Share shall be increased by
fourteen percent (14%) to thirty-one and six tenths percent (31.6%).

               (v) Security. Tenant has delivered to Landlord, as additional security for the
performance of Tenant’s obligations under the Lease, either (A) the sum of $2,437,500.00, in
certified or official bank check, or (B) an unconditional, irrevocable letter of credit in the
amount of $2,437,500.00 in a form and issued by a bank satisfactory to Landlord in Landlord’s sole
and absolute discretion, to be held by Landlord in accordance with the provisions of Section 2.09
of the Lease and such sum shall be added to and deemed a part of the Security Deposit or the Letter
of Credit, as applicable; provided, however, that notwithstanding anything
contained in Section 2.09(c)(i) of the Lease to the contrary, Tenant shall have the right to
deliver the first Security Reduction Notice with respect to the additional security delivered
pursuant to this Section 2(b)(v) only (but not with respect to any other portion of the Security
Deposit or Letter of Credit held by Landlord) at any time on or after the date hereof, and all of
the provisions of Section 2.09(c) of the Lease shall apply mutatis mutandis with respect
thereto (it being understood and agreed that Tenant shall have no right to send any Security
Reduction Notice with respect to any other portion of the Security Deposit or Letter of Credit held
by Landlord until after the 1st anniversary of the Base Space Rent Commencement Date as provided in
Section 2.09(c)(i) of the Lease),

               (vi) Initial Improvements. (A) Landlord’s Work. Landlord, or its designated
contractor(s), at Landlord’s expense, shall perform or cause to be performed the initial work as
described on Exhibit B annexed hereto (“Landlord’s Initial Second Floor Work”) in
the Second Floor Space. Tenant shall accept the Second Floor Space in its “as is” condition on the
Commencement Date, subject only to Landlord’s performance of Landlord’s Initial Second Floor Work,
and Landlord shall not be required to perform or cause the performance of any other work to ready
the Second Floor Space for Tenant’s occupancy. All initial improvements which do not constitute
Landlord’s Initial Second Floor Work shall constitute Alterations and shall be performed by Tenant
at Tenant’s expense in accordance with the provisions of Section 4.01 of the Lease. During Tenant’s
performance of its initial Alterations with respect to the Second Floor Space, and as part of such
Alterations, Tenant shall cause the Building lavatories located on the second floor of the Building
to substantially comply with the relevant requirements of the Americans with Disabilities Act. The
“Second Floor Possession Date” means the earlier to occur of (x) the date on which Landlord
tenders vacant possession of the Second Floor Space to Tenant with

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Landlord’s Initial Second Floor Work substantially completed within the meaning of the last
sentence of Section 8.01(d) of the Lease, which shall apply mutatis mutandis with respect
thereto, and (y) the date on which Tenant takes possession of any part of the Second Floor Space
for the performance of Alterations or for any other reason.

                    (B) Landlord’s Contribution. The Landlord’s Contribution in
respect of the Second Floor Space only shall be the lesser of (x) $1,157,520.00 or (y) the actual
cost of Initial Tenant Work performed in the Second Floor Space, and shall be paid to Tenant in
accordance with the provisions of Section 8.03 of the Lease.

                    (C) Landlord’s Base Building Work. Subject to the provisions
of Section 8.05 of the Lease, Landlord shall exercise diligent efforts to commence the Landlord’s
Base Building Work to renovate the interior of the lobby of the Building and the interior of the
elevator cabs serving the Premises and the Landlord’s Base Building Work to the facade of the
Building, all as described on Exhibit J attached to the Lease, by April 1, 2000, and diligently
prosecute the same to completion, subject to Force Majeure, but the failure of Landlord to commence
or complete any aspect of Landlord’s Base Building Work by the applicable date set forth herein or
on Exhibit J attached to the Lease shall not give Tenant a right to any abatement, credit,
deduction or offset against the Rent payable pursuant to the Lease or this Third Lease Amendment,
or to the imposition of any penalties against Landlord, and Tenant’s sole remedy for Landlord’s
failure to commence or complete any aspect of Landlord’s Base Building Work shall be to bring an
action against Landlord for specific performance of such work.

               (vii) Second Floor HVAC. (A) Supplementing the provisions of Section 3.01 (h) of the
Lease, and notwithstanding anything contained therein to the contrary, the Maximum Tonnage in
respect of the Second Floor Space only shall be 90 tons (provided that only 30 tons thereof shall
be available to Tenant during Business Hours on Business Days).

                    (B) Section 3.01(h)(ii)
of the Lease is hereby amended by
deleting the penultimate (i.e., second to last) sentence thereof in its entirety and inserting the
following language in place thereof: “Tenant shall pay to Landlord for the Supplemental Condenser
Water, as Additional Charges, an amount equal to $500 per ton per annum for each ton of installed
capacity available to Tenant pursuant to Section 3.01 (h)(i), as such amount is Adjusted
by CPI. For purposes hereof, “Adjusted by CPI” shall mean that the amount in question (the
“Base Amount”) shall be adjusted on each anniversary of the Second Floor Rent Commencement
Date (the “Base Date”), by adding to the Base Amount an amount equal to the product of (I)
the Base Amount and (II) the percentage of increase, if any, in the Consumer Price Index for the
month in which the applicable anniversary occurs over the Consumer Price Index for the month in
which the Base Date occurred. “Consumer Price Index” shall mean the Consumer Price Index
for all Urban Consumers published by the Bureau of Labor Statistics of the United States
Department of Labor, New York, New York — Northeastern New Jersey Area (1982-1984 = 100), or any
successor index thereto, appropriately adjusted.”

                    (C) Tenant shall have the right, at Tenant’s sole cost and
expense and subject to all applicable provisions of the Lease (including, without limitation,
Section 3.02 and Section 4.01 thereof), to install and maintain, throughout the Term, in the Second
Floor Space a self-contained heating, ventilating and air conditioning system that is

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separate and independent from Building systems, including, without limitation, the installation of
separate chilled water plants on the roof of the Building (including pumps therefor which Landlord
shall permit Tenant to locate within certain covered storage room(s) on the roof of the Building),
risers to connect such chilled water plants to an air handling unit located in the fan room on the
2nd floor of the Building, and all of the ducts, dampers, registers, grilles, wiring and
appurtenances utilized in connection therewith (collectively, the “Second Floor HVAC
Equipment”), so as to provide heating, ventilation and air conditioning to the Second Floor
Space. The installation of any Second Floor HVAC Equipment shall be an Alteration, subject to all
of the provisions of Article 4 of the Lease. In connection with the installation of the Second
Floor HVAC Equipment, Landlord and Tenant agree to reasonably cooperate with each other to isolate
and disconnect the Second Floor HVAC Equipment from the Building systems, it being understood and
agreed that if Tenant shall install any Second Floor HVAC Equipment, (I) Landlord shall install, at
Tenant’s sole cost and expense, such additional electrical meters and related equipment as shall be
necessary to measure the electricity consumed by Tenant’s Second Floor HVAC Equipment and (II)
Landlord shall have no further obligations under Section 3.01(a)(i) of the Lease with respect to
the Second Floor Space. The Second Floor HVAC Equipment, whether within or outside the Second Floor
Space, shall, upon the installation thereof, become part of the Second Floor Space or the Building,
as applicable, and shall be deemed the property of Landlord. Tenant, at its own risk, may use the
presently existing air handling unit servicing the Second Floor Space and located in the fan room
on the 2nd floor of the Building, but Tenant agrees to accept such presently existing air handling
unit “as is” and “where is”, with all faults, and Landlord makes no representation or warranty,
express or implied, as to the condition of such existing equipment or its fitness for any
particular purpose. The parties hereto acknowledge that the installation by Tenant of the Second
Floor HVAC Equipment shall require the installation of Additional Electricity Equipment and that
such installation of such Additional Electricity Equipment shall be subject to all applicable
provisions of the Lease, including, without limitation, the provisions of Section 3.02(c) thereof.
Provided that Tenant provides to Landlord such information and specifications as Landlord shall
require and otherwise cooperates with Landlord in all reasonable respects, Landlord agrees that,
subject to the provisions of Section 3.02(c) of the Lease, Landlord shall make and pursue an
appropriate application to the utility company servicing the Building to allow the installation of
such Additional Electricity Equipment, it being understood and agreed that Landlord shall have no
liability whatsoever to Tenant or any other party if the utility company servicing the Building
shall not allow the installation of such Additional Electricity Equipment.

               (viii) Renewal Option. Provided that on the date Tenant exercises the Second Floor
Renewal Option and at the commencement of the Second Floor Renewal Term (A) the Lease shall not
have been terminated, (B) Tenant shall not be in default in the payment of any Rent and no other
Event of Default shall have occurred and be continuing and (C) Tenant and/or any Affiliate of
Tenant, and any Desk Space User permitted pursuant to Section 5.01(d) of the Lease, shall occupy at
least 50% or more of the entire Second Floor Space, Tenant shall have the option (the “Second
Floor Renewal Option”) to extend the Second Floor Term in respect of the entire Second Floor
Space for one (1) additional five (5) year period (the “Second Floor Renewal Term”, which
Second Floor Renewal Term shall constitute a “Renewal Term” under the Lease), to commence at the
expiration of the initial Second Floor Term. The Second Floor Renewal Option shall be exercised
with respect to the entire Second Floor Space only and shall be exercisable by Tenant giving notice
to Landlord (the “Second Floor Renewal Notice”) at least 12 months before the last day of
the initial Second

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Floor Term. Time is of the essence with respect to the giving of the Second Floor Renewal
Notice. The Second Floor Renewal Terms shall be upon all of the terms and conditions set forth in
the Lease, including, without limitation, the provisions of Section 10.02 thereof;
provided, that the provisions of Section 10.01 of the Lease shall not apply to the Second
Floor Renewal Option.

               (ix) Certain Subletting. Notwithstanding anything contained in Articles of the Lease
to the contrary, Section 5.02 of the Lease shall not apply, and Landlord hereby consents, to a
Sublease of all or a portion of the Second Floor Space entered into by Tenant before the 3rd
anniversary of the Second Floor Commencement Date for a term that ends not later than such 3rd
anniversary of the Second Floor Commencement Date; provided, that any such Sublease
complies with all of the provisions and conditions set forth in Section 5.03(a)(ii) through Section
5.03(a)(vii) of the Lease, and provided, further, that Tenant shall deliver to
Landlord, at least 10 days prior to the Effective Date thereof, a notice containing an affirmative
representation and warranty by Tenant that such Sublease complies with all of the provisions and
conditions set forth in Section 5.03(a)(ii) through Section 5.03(a)(vii) of the Lease and
accompanied by (A) a conformed or photostatic copy of such Sublease and all related agreements and
(B) a statement setting forth in reasonable detail the identity of the Sublessee thereunder, the
nature of its business and its proposed use of the Premises.

          3.
Expansion Space. (a) Abatement of Fixed Rent. Notwithstanding anything
contained in the Lease to the contrary, provided that the Lease shall be in full force and effect,
Tenant shall be entitled to the following abatements of the Fixed Rent payable under the Lease in
respect of the Expansion Space: (a) $12,750.00 payable for the calendar month of April 2000, (ii)
$12,750.00 payable for the calendar month of May 2000, (iii) $12,750.00 payable for the calendar
month of June 2000, and (iv) $12,750.00 payable for the calendar month of July 2000;
provided, however, that during each such period of abatement, Tenant shall not be
relieved of its obligation to pay any Additional Charges in each case with respect to such period.
Nothing contained herein shall relieve Tenant from its obligation to pay Fixed Rent, Additional
Charges and all other charges in respect of any other portion of the Premises under the Lease and,
except as specifically set forth in this Section 3, Tenant shall not be entitled to any other
abatements or free rent with respect to the Expansion Space,

               (b) Landlord’s Initial Work. Notwithstanding anything contained in the Lease to the
contrary, Landlord shall have no obligation to perform Landlord’s Initial Work in the Expansion
Space until such time as Landlord is prepared to begin Landlord’s Base Building Work to the facade
adjacent to the Expansion Space (such work, the “Expansion Space Facade Work”). Promptly
after the later to occur of (i) the date that is ten (10) Business Days after Landlord delivers to
Tenant a notice (“Landlord’s Expansion Space Notice”) stating that
Landlord is prepared to begin Landlord’s Initial Work in the Expansion Space and the Expansion
Space Facade Work and (ii) the date on which Tenant actually delivers vacant possession of the
Expansion Space to Landlord (the later of such dates being the “Expansion Space Delivery
Date” for all purposes of the Lease), Landlord shall commence the performance; of Landlord’s
Initial Work in the Expansion Space. If Landlord shall deliver Landlord’s Expansion Space Notice to
Tenant and Tenant shall fail to deliver vacant possession of the Expansion Space to Landlord within
10 Business Days after the effectiveness thereof (it being agreed and understood that Tenant shall
have no obligation to so deliver the Expansion Space to Landlord), then Landlord shall have no
liability to Tenant, and Tenant shall not be entitled to any abatement, credit, deduction or offset
against the Rent payable pursuant to the Lease, or to the imposition of any penalties against

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Landlord, for (i) any damage to the Expansion Space or any Fixtures, Improvements and Betterments
or Tenant’s Property contained therein, (ii) any disruption to the conduct of Tenant’s business in
the Expansion Space or (iii) Tenant’s inability to use all or any portion of the Expansion Space,
in each case to the extent caused by Landlord’s performance of the Expansion Space Facade Work.

          4. Signage. Supplementing the provisions of Section 9.20 of the Lease, and
notwithstanding anything contained therein to the contrary, provided
and for so long as the Named
Tenant, any Affiliate of the Named Tenant and/or any Named Tenant Permitted Assignee, and any Desk
Space User permitted pursuant to Section 5.01(d) of the Lease, is in actual occupancy of at least
three (3) full floors within the Building and no Event of Default has occurred and is continuing,
the Named Tenant or such Named Tenant Permitted Assignee, as the case may be, may install and
maintain a sign containing the corporate name and/or logo of the Named Tenant (or, subject to
Landlord’s consent not to be unreasonably withheld provided the corporate name and/or logo of such
Named Tenant Permitted Assignee shall conform with the first-class nature and landmark status of
the Building, the corporate name and/or logo of such Named Tenant Permitted Assignee) in a location
in the lobby of the Building substantially as shown on the plan attached hereto as Exhibit
C. All of the provisions of Section 9.20 of the Lease shall apply mutatis mutandis
with respect to the signage rights granted to Tenant by this Section 4. In addition, Landlord
agrees that it shall not grant to any other tenant of the Building leasing an amount of space in
the Building that is equal to or less than the Premises exterior Building signage rights (i.e., the
right to install and maintain a sign on the exterior of the Building) without offering similar
rights to Tenant.

          5. Interconnecting Conduit Installation. Tenant shall have the right, at Tenant’s
sole cost and expense and subject to the provisions of Section 4.01 of the Lease and the other
provisions of the Lease, to install and maintain, throughout the
Term, (A) one
31/2-inch electrical metallic tubing conduit in order to connect Tenant’s
uninterruptable power supply located on the 2nd floor of the Building to the 14th, 15th, 16th
and/or 17th floors of the Building (the “UPS
Conduit”) and (B) two 4-inch electrical
metallic tubing conduits for Tenant’s telecommunications cabling (the “Telecommunications
Conduits”). The UPS Conduit shall be routed through the electrical closets located on floors 2
through 17 of the Building. The Telecommunications Conduits shall be routed through the
telecommunications closets located on floors 2 through 17 of the Building. Without limiting the
generality of Section 4.01 of the Lease or Landlord’s approval rights contained therein, the
pathways of each of the UPS Conduit and the Telecommunications Conduits shall be offset around
existing floor beams and shall maintain sufficient clearance from existing equipment located in the
respective electrical and telecommunications closets, as applicable. Upon the expiration of the
Term, each of the UPS Conduit and the Telecommunications Conduits and all wiring and cabling
located therein shall be removed by Tenant at its sole cost and expense.

          6. Right of First Offer. Section 1.07 of the Lease is hereby amended by deleting the
phrase “50% of the entire Premises” in each place where such phrase occurs in Sections l.07(b)(i),
1.07(b)(ii), 1.07(c) and l.07(i) of the Lease and inserting the phrase “50% of the Premises
(exclusive of the Second Floor Space)” in lieu thereof in each of said Sections.

          7. Brokerage, Each party represents to the other that such party has dealt with no
broker other than Cushman & Wakefield, Inc. (“Broker”) in connection with this Third Lease

-7-

 

Amendment or the Building, and each party shall indemnify and hold the other harmless from
and against all loss, cost, liability and expense (including, without limitation, reasonable
attorneys’ fees and disbursements) arising out of any claim for a commission or other compensation
by any broker other than Broker who alleges that it has dealt with the indemnifying party in
connection with this Third Lease Amendment or the Building. Landlord shall enter into a separate
agreement with Broker which provides that, if this Third Lease Amendment is executed and delivered
by both Landlord and Tenant, Landlord shall pay to Broker a commission to be agreed upon between
Landlord and Broker, subject to, and in accordance with, the terms and conditions of such
agreement.

          8. No Other Modification. Except as expressly set forth in this Third Lease
Amendment, the Lease continues and remains unmodified and in full force and effect, and the Lease
as hereby amended is ratified and confirmed. All references in the Lease to “this Lease” shall
hereafter be deemed to refer to the Lease as amended by this Third Lease Amendment.

[REMAINDER OF PAGE INTENTIONALLY LEFT BLANK]

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

	 	 	 	 	 	 	 	 	 
	 

	 	 	 	 	 	 	 	 
	 	 	Landlord:	 	390 PARK AVENUE ASSOCIATES, LLC	 	 
	 
	 	 	 	 	 	 	 	 
	 

	 	 	 	By:
	 	/s/ Aby Rosen	 	 
	 

	 	 	 	 	 	 	 	 
	 

	 	 	 	Name:	 	 	 	 
	 

	 	 	 	Title:
	 		 	 
	 
	 	 	 	 	 	 	 	 
	 	 	Tenant:	 	THOMAS WEISEL PARTNERS GROUP LLC	 	 
	 
	 	 	 	 	 	 	 	 
	 

	 	 	 	By:
	 	/s/ Shaugn Stanley	 	 
	 

	 	 	 	 	 	 	 	 
	 

	 	 	 	Name:
	 	 Shaugn Stanley	 	 
	 

	 	 	 	Title:
	 	CFO/Partner	 	 

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